Category: Economy

  • MIL-OSI Russia: More than a thousand training programs will be presented at the festival in the Professions of the Future center

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    On June 7, the Professions of the Future center will host a festival of short training programs. Representatives of leading educational platforms and universities will demonstrate more than a thousand in-demand courses to visitors. Interactive trainings and master classes will be held for festival participants. The organizers promise that both adults and children will find it interesting: they will be able to take career guidance tests and immerse themselves in the world of in-demand professions in the first specialized 5D cinema in Russia.

    “The upcoming festival is a great opportunity to choose a short training program, master a new profession over the summer and find employment in your specialty in the fall. The Professions of the Future Center will gather leading educational providers on its site to present over a thousand courses from various industries. The whole family can participate: a children’s workshop with a play city will be open for the youngest visitors. In addition, guests will be able to personally communicate with experts, take part in master classes, try out different professions using VR technologies and enroll in courses they like. The center’s career mentors will help you choose the right option among short training programs in specialties that demonstrate high income growth dynamics and are in demand on the labor market,” said

    Alexandra Alexandrova, First Deputy Head of the Department of Labor and Social Protection of the Population of the City of Moscow.

    The festival of short training programs will take place at the Professions of the Future center on Shchepkina Street (38, building 1) from 11:00 to 15:00. Participation is free, but a pre-registration.

    Popular educational platforms Yandex Praktikum, Netology, Skillbox, Synergy, as well as universities, including the Russian Presidential Academy of National Economy and Public Administration, the Financial University under the Government of the Russian Federation, Plekhanov Russian University of Economics, Moscow Automobile and Road State Technical University, Russian New University and others will present their best courses.

    Guests will be able to choose training programs in working specialties, as well as in such professions as IT recruiter, SEO and SMM specialist, data analyst, chef, graphic designer, filmmaker, and many others. Career mentors will help determine the appropriate direction, and you can sign up for training right during the event.

    The center will feature thematic zones “Design and Technology”, “Health and Nutrition”, “Innovation and Production”, and “Creativity and Psychology”. Participants will hear presentations from leading HR experts.

    Festival guests will be able to take part in a business game and attend master classes on the basics of SMM, sketching, interior collage, art therapy and fashion illustration, as well as go on an immersive journey through the world of in-demand professions in a 5D cinema.

    Children will be offered to undergo career guidance testing, receive an individual consultation with an analysis of the results, test a career guidance neurotracker and try out a specialty using virtual reality technologies.

    As Sergei Sobyanin noted in development strategies for the social protection system of Moscow until 2030, the city offers every Muscovite and residents of other regions to develop their human resources potential and successfully integrate into the largest labor market of our country. To this end, the capital is creating a modern educational infrastructure for adults and children across a wide range of training programs, and such work will continue.

    The Moscow City Employment Service is the largest state personnel operator that helps residents of the capital find work. Its structure includes employment offices, many of which are located in the My Documents government service centers. The flagship centers are open at the following addresses: Kuusinen Street, Building 2, Building 1, and Shabolovka Street, Building 48. The specialized My Career employment center is located on Sergiya Radonezhskogo Street (Building 1, Building 1).

    At the Professions of the Future center (38 Shchepkina Street, Building 1), you can master one of 75 in-demand specialties in various sectors of the economy in a maximum of three and a half months. Career mentors will help you find a job after completing your training. The center’s partners include more than three thousand employers. In addition, a comprehensive career guidance program is being implemented here for ninth-grade students.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/154774073/

    MIL OSI Russia News

  • MIL-OSI Australia: Keep up to date with the taskforce

    Source: New places to play in Gungahlin

    Taskforce results

    The Serious Financial Crime Taskforce (SFCT) started operation on 1 July 2015.

    From this date until 31 March 2025, the Taskforce has progressed cases that have resulted in:

    • completion of 2,526 audits and reviews  
    • conviction and sentencing of 71 people
    • raised over $2.9 billion in liabilities
    • collected more than $1 billion.

    Guidance and resources

    The SFCT has valuable resources to warn taxpayers of the risks of getting involved in these kinds of behaviours, including:

    • GST refund fraud – an Intelligence Bulletin warning businesses against using related-party structuring and false invoicing, and entering into artificial and contrived arrangements to cheat the tax and super systems.
    • False invoicing – an Intelligence Bulletin warning businesses against false invoicing arrangements. These schemes involve issuing invoices where no goods or services are provided.
    • Electronic sales suppression tools (ESSTs) – a new Intelligence Bulletin warning businesses against using ESSTs. Businesses use ESSTs to illegally manipulate transaction records and avoid their tax obligations.
    • Fraud in the precious metals refining industry – The illegal manipulation of the government’s interpretation of precious metals has been a focus for SFCT, which has investigated participants alleged to have been involved in gold bullion fraud.

    Case studies and tax crime prosecution results

    Case studies show that those who deliberately cheat the system will be held to account:

    Read our past SFCT media releases and listen to the audio grabs.

    MIL OSI News

  • MIL-OSI Australia: National Accounts March quarter 2025

    Source: Australian Parliamentary Secretary to the Minister for Industry

    Today’s National Accounts show that our economy continues to grow in the face of substantial economic headwinds at home and abroad.

    While overall growth in the Australian economy remains subdued, the private sector recovery we have planned and prepared for is gradually taking hold.

    With all the uncertainty in the world, any growth is a decent outcome.

    Lower public demand, combined with global economic uncertainty and the impact of natural disasters, meant growth was weaker than expected.

    Even with these challenges, we are seeing private demand and incomes continuing to recover.

    Today’s numbers show the private sector stepping up as public demand steps back.

    The economy grew 0.2 per cent in the March quarter, leaving annual growth steady at 1.3 per cent.

    While growth in the quarter was weaker than expected, the Australian economy remains one of the strongest in the world.

    No major advanced economy has achieved what we have, with unemployment in the low 4s, inflation below 2.5 per cent and continuous growth for three years.

    Public demand has played a role in keeping the economy from going backwards over the past two years, but we know strong and sustainable economic growth is driven by the private sector.

    Our plan has always focused on restoring the private sector to its rightful place as the main driver of growth in our economy.

    While the private sector‑led recovery was always going to be gradual, today’s data shows encouraging signs it is continuing.

    Private demand grew 0.5 per cent, contributing 0.3 of a percentage point to growth in the quarter.

    The contribution from private demand was greater than overall GDP growth.

    Growth in private demand was broad based, with consumption, new business investment and dwelling investment all growing in the quarter.

    These three components have grown at the same time in only around 1 in every 3 quarters since records began.

    Consumption grew 0.4 per cent in the quarter, contributing 0.2 of a percentage point to growth.

    Consumption growth was weighed down by the impact of natural disasters and households continuing to exercise caution in spending, with the saving ratio rising to 5.2 per cent – the highest in more than two and a half years.

    While consumption growth was modest in the quarter, it was encouraging to see solid growth in real incomes per capita.

    Getting real incomes growing again has been central to our Government’s economic strategy after they were going backwards 1.7 per cent when we came to office.

    Real incomes per capita grew 1.1 per cent in the quarter and are up 1.7 per cent through the year. This is the strongest quarterly growth rate for real incomes in more than three years.

    Growth in real incomes reflects a combination of moderating inflation, solid wage and employment growth, the Government’s tax cuts for every taxpayer and lower interest rates. There was also some support from insurance claims related to weather events.

    In the second half of last year real incomes in Australia grew faster than the OECD average and almost twice the G7 average, and we have now recorded a third consecutive quarter of real income growth.

    Private investment was an important contributor to growth in the quarter, driven by dwelling investment and new business investment.

    Dwelling investment grew by a solid 2.6 per cent in the quarter, to be 5.6 per cent higher through the year, well above average quarterly growth over the past ten years of just 0.2 per cent. This is the type of investment the Government’s $43 billion Homes for Australia Plan will continue to encourage as we deliver on our housing agenda.

    New business investment rose 0.4 per cent in the quarter, driven by construction investment, taking the level of business investment to a 12 year high.

    Since we came to office, new business investment has grown by an annualised average of 4.4 per cent, compared to an average decline of 1.3 per cent under our predecessors.

    Public demand fell 0.5 per cent in the quarter, detracting 0.1 of a percentage point from growth. The moderation in public demand growth means that public demand as a share of GDP fell in the quarter by 0.3 of a percentage point.

    The quarterly fall in public demand was driven by a wrap up of a number of large projects in the previous quarter and partly by a moderation in growth of NDIS spending due to the Government’s reforms.

    Net exports detracted 0.1 of a percentage point from growth, reflecting the impact of natural disasters and subdued global economic conditions.

    Extreme weather events had an impact on mining, tourism and shipping activities in the quarter. Coal export volumes declined by 6.4 per cent in the quarter, weighing down overall non‑rural goods exports, which fell 2.3 per cent.

    Despite all the challenges coming at us, Australians are earning more and keeping more of what they earn under Labor.

    Compensation of employees grew by 1.5 per cent in the quarter, to be 6.5 per cent through the year. This has seen the wage share of income rise to 53.7 per cent from the below 50 per cent before we came to office.

    Wages in future quarters will be supported by the Fair Work Commission’s welcome decision to award a real wage increase for award workers.

    Our tax cuts for every taxpayer have contributed to another fall in tax as a share of income. Income tax as a share of income was 15.5 per cent in the quarter, down from 16.3 per cent in the quarter before our tax cuts started rolling out.

    The substantial and sustained progress we’ve made on inflation was confirmed again in today’s data, with the National Accounts consumption deflator moderating to 3.3 per cent in annual terms, the lowest in three years.

    The first of the interest rate cuts saw mortgage interest costs fall in the quarter. As the rate cuts flow through to household mortgages, we expect them to play more of a role in boosting real incomes in future quarters.

    Under Labor, inflation is down, real wages and living standards are rising, unemployment is low, interest rates are falling and the economy is continuing to grow.

    All of this progress Australians have made together means that we are well placed and well prepared for the heightened uncertainty and volatility in the global economy in the period ahead.

    MIL OSI News

  • MIL-OSI: North America high-net-worth individual population surges, while Europe and Middle East shrink

    Source: GlobeNewswire (MIL-OSI)

    Press contact:
    Fahd Pasha
    Tel.: +1 647 860 3777
    E-mail: Fahd.Pasha@capgemini.com

    North America high-net-worth individual population surges, while Europe and Middle East shrink

    • U.S. led the world in growth in its millionaire population, adding 562,000 to reach 7.9 million
    • Ultra-high net worth individual population rises by 6.2% worldwide
    • High-net-worth individuals now allocate 15% of their portfolios to alternative investments, including cryptocurrencies

    Paris, June 4, 2025 – The Capgemini Research Institute’s World Wealth Report 2025, published today, reveals the global high-net-worth individuals1(HNWIs) population rose by 2.6% in 2024. Now in its 29thedition, the report finds this increase was driven by the growth in the population of ultra-high-net-worth individuals (UHNWIs), which grew by 6.2%, as strong stock markets and AI optimism boosted portfolio returns. The data indicates that alternative investments2, such as private equity and cryptocurrencies, are now an established presence in HNWI holdings, representing 15% of their portfolios.

    Bullish stock market performance in the U.S. fuels wealth increase
    A favorable interest rate environment and strong U.S. equity market returns helped boost wealth creation in 2024. North America saw the biggest gains, with the HNWI population rising by 7.3%. In contrast, Europe, Latin America and the Middle East saw declines in their HNWI populations, as macroeconomic challenges weighed.

    At the end of 2024, according to Capgemini’s research: 

    • Europe’s HNWI population declined 2.1% due to economic stagnation in major countries, with United Kingdom, France and Germany losing 14,000, 21,000 and 41,000 millionaires, respectively. In contrast, Europe’s UHNWI population rose 3.5%, reflecting increased wealth concentration.
    • Asia-Pacific’s HNWI population increased 2.7%, with notable variability across the region.
    • Latin America’s HNWI population declined 8.5%, due to currency depreciation and fiscal instability. Brazil (-13.3%) and Mexico (-13.5%) witnessed the biggest population declines.
    • The Middle East’s HNWI population declined 2.1%, driven by lower oil prices.

    Within the largest individual markets, the U.S. was the clear leader, adding 562,000 millionaires as the country’s HNWI population grew by 7.6% to 7.9 million. India and Japan were standouts in the Asia-Pacific region, with both countries registering 5.6% growth, adding 20,000 and 210,000 millionaires, respectively. In contrast, growth in China was negative, with HNWI population declining by 1.0%.

    Next-gen HNWIs seek wealth management firms that align with investment priorities
    Wealth management firms are actively preparing for a new era of wealth transfer in which 83.5 trillion USD3 will change hands over the next two decades, creating the next generation of HNWIs4. According to the report, this handover will unfold in three phases: 30% of HNWIs will receive an inheritance by the end of 2030, 63% will inherit wealth by the end of 2035, and 84% by 2040.

    “The great wealth transfer will be a defining moment for the industry. Despite global wealth on the rise, 81% of inheritors plan to switch firms within one to two years of inheritance. Potentially losing these unsatisfied clients is going to create significant risk for the global wealth management sector,” said Kartik Ramakrishnan, CEO of Capgemini’s Financial Services Strategic Business Unit and Group Executive Board Member. “The next-generation of high-net-worth individuals arrive with vastly different expectations to their parents. This necessitates an urgent shift away from traditional strategies to effectively cater to their evolving needs on this wealth journey. Firms must also prepare to equip advisors with the digital capabilities, potentially augmented with agentic or generative AI, to mitigate the risk of losing both clients and key employees.”

    As of January 2025, HNWI investors parked 15% of their portfolios in alternative investments, including private equity and cryptocurrencies. They are willing to take more risks to expand their wealth – allocating capital to higher growth asset classes and niche product offerings, notably by 61% of millennial and Gen Z HNWIs.

    To attract next-gen HNWIs, wealth management firms must rethink
    The report highlights that wealth management firms need to refresh and revamp their services and offerings to resonate with the next-gen HNWI customer base. Including:

    • Private equity and cryptocurrencies: 88% of advisors observe a greater interest in alternative assets amongst this group of investors over baby boomers
    • New offshore booking centers: 50% of advisors indicate their lack of capabilities in emerging wealth hubs – Singapore, Hong Kong, UAE and Saudi Arabia – will drive these clients to alternate firms, as they seek diversification, better returns and a favorable regulatory environment
    • Tailored services: concierge services such as luxury travel, medical care, and safeguarding against cyber threats, rank as the top non-financial value-added service most sought after
    • Digital interactions: advisors rank a digital platform providing a holistic client view and actionable insights as the most important capability to effectively serve next-gen HNWIs, followed by intelligent automation of operational tasks like meeting summaries and emails

    Insufficient support from wealth management firms makes advisors a flight risk
    According to the report, one-in-three advisors express dissatisfaction with their firms’ lack of digital capabilities, negatively impacting their productivity, and creating a technological divide. In addition, 62% of next-gen HNWIs say they would follow their advisor if they moved to a different firm. Altogether, this directly impacts retention, as advisors struggle to engage these digital-native clients.

    Beyond digital resources, the industry is on the cusp of a talent shortage amid an unprecedented transfer of wealth to Gen X, millennial, and Gen Z inheritors. In the next 12 months, one in four advisors plan to be on the move, with a majority transitioning to a competitor firm and a few starting their own ventures. Additionally, 20% of advisors say they will retire by 2035, with 48% planning to retire by 2040.

    As the great wealth transfer unfolds, the wealth management industry will need to reimagine product offerings through tailored investment options for next-gen HNWIs. Firms must empower and engage advisors with an intuitive digital experience across all channels to secure their loyalty, the report concludes.

    Read the full report: Sailing through the Great Wealth Transfer

    Report Methodology
    The World Wealth Report 2025 market-sizing model covers 71 countries, accounting for more than 98% of global gross national income and 99% of world stock market capitalization. The Capgemini 2025 Global HNW Insights Survey questioned 6,472 HNWIs including 5,473 Next-gen HNWIs across four regions: Americas, Europe, and Asia-Pacific and Middle East. The 2025 Wealth Management Executive Survey includes 141 responses across 10 markets, with representation from pure WM firms, universal banks, independent broker/dealer firms, and family offices. The 2025 Relationship Manager Survey, executed by Phronesis Partners, includes 1,306 responses across twelve markets.

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.

    Get The Future You Want | www.capgemini.com

    About the Capgemini Research Institute
    The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom, and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times – an industry first.
    Visit us at www.capgemini.com/researchinstitute


    1 HNWIs are high-net-worth individuals with investable assets of USD1 million or more, excluding their primary residence, collectibles, consumables, and consumer durables. HNWIs are segmented into three categories based on wealth bands: Ultra-HNWIs (USD30 million or more), Mid-Tier Millionaires (USD5-30M) and Millionaires Next Door (USD1-5M).
    2 Alternative investments include commodities, currencies, private equity, hedge funds, structured products, and digital assets
    3 UBS, “Global Wealth Report 2024”
    4 Gen X (aged 44 to 59 years as of 2025), millennial (aged 28-43 years as of 2025), and Gen Z (12 to 27 years as of 2025) inheritors are referenced as “next-gen HNWIs” to signify the generational shift in HNWI wealth

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    The MIL Network

  • MIL-OSI Australia: ACCC grants interim authorisation to allow Battery Stewardship Scheme to continue with limited levy and rebate adjustments

    Source: Australian Ministers for Regional Development

    ACCC grants interim authorisation to allow Battery Stewardship Scheme to continue with limited levy and rebate adjustments.

    The ACCC has granted interim authorisation with a condition to the Battery Stewardship Council (BSC) to continue operating the Battery Stewardship Scheme with a limited adjustment of the Scheme’s levy and rebates.

    The BSC was formed in 2018 with the primary goal of establishing a Battery Stewardship Scheme to significantly increase battery collections and recycling in Australia.

    In September 2020, the ACCC granted authorisation to the BSC to establish and operate a national scheme which manages end-of-life batteries. Under the Scheme, the BSC imposes a weight-based levy on imported batteries at a rate of 4 cents per equivalent battery unit.

    By granting interim authorisation, the ACCC will allow the BSC to adjust the levy to take account of changes in the Consumer Price Index since the Scheme’s commencement.

    “The Scheme results in significant environmental benefits by diverting the number of batteries headed for landfill, as well as raising public awareness around battery disposal and re-use,” ACCC Deputy Chair Mick Keogh said.

    “This interim authorisation is needed to ensure the Scheme’s financial viability, given that costs have risen since its inception.”

    Under the interim authorisation, the BSC will also be able to progress the development of new levy arrangements involving an eco-modulated levy to be applied based on battery type. This aims to provide sufficient funding to ensure that rebates provided to participants in the Scheme reflect the actual costs of safe collection and sorting, and to reward processing performance.

    “Granting interim authorisation provides the BSC with financial stability, enabling it to maintain the Battery Stewardship Scheme while the ACCC completes its assessment of the proposed broader levy and rebate arrangements,” Mr Keogh said.

    In order to address the continued risk of harm from consumers storing button batteries, the ACCC has imposed a condition that the BSC continue implementing its Button Battery Safety Strategy.

    “We acknowledge the broader issues raised by interested parties in relation to the Scheme’s performance so far as well as the pathway forward,” Mr Keogh said.

    “We will investigate these issues further in our draft determination.”

    The interim authorisation will take effect from 4 June 2025 and will remain in place until the ACCC issues its final determination, unless it is revoked or amended by the ACCC.

    The ACCC is continuing to assess the BSC’s substantive application, which includes proposals to broaden the scope of the Scheme and further develop levy and rebate mechanisms. Stakeholders will have a further opportunity to comment on the ACCC’s draft determination.

    More information, including the ACCC’s reason for decision, is available online on the ACCC’s public register at Battery Stewardship Council.

    Note to editors

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

    Section 91 of the CCA allows the ACCC to grant interim authorisation when it considers it is appropriate and in the public benefit. This allows the parties to engage in proposed conduct while the ACCC is considering the merits of the substantive CCA authorisation application.

    The ACCC may review a decision on interim authorisation at any time, including in response to feedback raised following interim authorisation.

    Background

    Product stewardship is an environmental management strategy that means whoever designs, produces, sells or uses a product takes responsibility for minimising that product’s environmental impact through all of the stages of its life cycle.

    The BSC is a not-for-profit entity established to oversee the Battery Stewardship Scheme, which promotes the safe collection, recycling, and disposal of end-of-life batteries. The scheme does not cover automotive lead-acid batteries or batteries already included in other recycling programs.

    The BSC first sought authorisation in 2020 for a static, weight-based levy which was charged on imported batteries at a rate of 4 cents per equivalent battery unit. The weight-based charge on imported batteries (or equivalent fee to be paid by members of the scheme) is to be passed on to consumers as a visible levy and used to fund the scheme and a rebate system for service providers responsible for the battery’s collection, sorting and processing.

    That authorisation is due to expire on 26 September 2025.

    MIL OSI News

  • MIL-OSI: DMG Blockchain Solutions Announces Preliminary May Operational Results

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, June 03, 2025 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated blockchain and data center technology company, today announces its preliminary operational results for May 2025:

    • Bitcoin mined: 31 BTC (vs 30 BTC in Apr 2025)
    • Hashrate: 1.89 EH/s (vs 1.93 EH/s in Apr 2025)
    • Bitcoin balance: 350 BTC (vs 351 BTC in Apr 2025)

    During May 2025, DMG’s realized hashrate was 1.89 EH/s, approximately flat compared to April’s reported 1.93 EH/s. The Company reached its 2.1 EH/s hashrate target in early May, supported by the deployment of additional Bitmain S21+ Hydro miners. Throughout May, DMG reduced the hashrate of a portion of its fleet—particularly its Bitmain T21 miners—in response to rising ambient temperatures. The Company also continued to experience hydro infrastructure challenges, although its hydro-cooled miners continued to perform well.

    DMG’s bitcoin balance of 350 BTC at the end of May was similar to the prior month end. The Company sold bitcoin during the month to fund operating expenses and further reduce its loan balance with Sygnum Bank, in line with prior guidance.

    DMG’s CEO, Sheldon Bennett, commented, “In May, we mined 31 bitcoin on a hashrate of 1.89 EH/s, even as we incurred seasonal headwinds and infrastructure-related challenges. Our bitcoin balance remained stable as we continued to allocate proceeds toward paying operational costs and reducing debt. While we strive to remain competitive in Bitcoin mining to ensure sustained cash generation, we continue to be encouraged by our progress to secure colocation and off-take agreements for artificial intelligence infrastructure as well as new clients for our Systemic Trust digital asset custody subsidiary.”

    About DMG Blockchain Solutions Inc.

    DMG is a publicly traded and vertically integrated blockchain and data center technology company that manages, operates and develops end-to-end digital solutions to monetize the digital asset and artificial intelligence compute ecosystems. Systemic Trust Company, a wholly owned subsidiary of DMG, is an integral component of DMG’s carbon-neutral Bitcoin ecosystem, which enables financial institutions to move Bitcoin in a sustainable and regulatory-compliant manner.

    For additional information about DMG Blockchain Solutions and its initiatives, please visit www.dmgblockchain.com. Follow @dmgblockchain on X, LinkedIn and Facebook, and subscribe to the DMG YouTube channel to stay updated with the latest developments and insights.

    For further information, please contact:

    On behalf of the Board of Directors,

    Sheldon Bennett, CEO & Director
    Tel: +1 (778) 300-5406
    Email: investors@dmgblockchain.com
    Web: www.dmgblockchain.com

    For Investor Relations:
    investors@dmgblockchain.com

    For Media Inquiries:
    Chantelle Borrelli
    Head of Communications
    chantelle@dmgblockchain.com

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

    Cautionary Note Regarding Forward-Looking Information

    This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding DMG’s strategies and plans, executing on DMG’s broader strategy to shift its data center capacity towards AI, securing high-value AI off-take and colocation agreements, securing new clients for the Systemic Trust digital asset custody subsidiary, the opportunity and plans to monetize bitcoin transactions and provide additional products and services to customers and users, the continued investment in Bitcoin network software infrastructure and applications, the expected allocation of capital, developing and executing on the Company’s products and services, increasing self-mining, increasing hashrate, efforts to improve the operation of its mining fleet, the potential trimming of self-mining due to higher ambient temperature environment, the launch of products and services, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information.

    Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG’s production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hashrate mining difficulty.

    Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoin; the demand and pricing of AI data centers and usage; security threats, including a loss/theft of DMG’s bitcoin; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG’s business. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca. In addition, DMG’s past financial performance may not be a reliable indicator of future performance.

    Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of viruses and diseases on the Company’s ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoin from DMG or its customers, consumer sentiment towards DMG’s products, services and blockchain and AI technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs, increase in equipment and labor costs, equipment failures, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above.

    The MIL Network

  • MIL-Evening Report: Ahead of the Brisbane Olympics, it’s time for Australia to get serious about esports

    Source: The Conversation (Au and NZ) – By Craig McNulty, Senior Lecturer in Exercise Physiology, Queensland University of Technology

    Roman Kosolapov/Shutterstock

    Most of us have heard of esports but many don’t realise the fast-growing world of competitive video gaming features tournaments, university scholarships and billions of dollars in revenue.

    As we approach the 2032 Brisbane Olympic and Paralympic Games, it’s time for Australia to develop esports talent pathways and invest in infrastructure.

    Doing so would create social benefits and economic opportunities, creating jobs in game development, content creation, events and tourism.

    The athletes

    For those unaware, esports refers to the organised, competitive playing of video games. All esports are video games but not all video games are esports.

    Esports players compete in competitions ranging from online ranked play (where you get an Elo rating, like chess) to live, in-person tournaments.

    Popular games include League of Legends, Dota 2 and Counter-Strike.

    Professional players compete in leagues and tournaments, online or in packed stadiums.

    Like most pro athletes, these players often train with their teams daily, and many also train by themselves informally. During training, they are honing reflexes, refining tactics and analysing opponents.

    Some competitions offer prize pools worth millions and global audiences can rival major traditional sports broadcasts.

    Like traditional sports, esports athletes are scouted young, attend development academies and receive university scholarships.

    An Olympic horizon?

    Esports has been around in some form since the 1970s but it’s exploded into the mainstream in the past decade.

    Unlike traditional sports, which depend on TV deals and fixed broadcast schedules, esports live online. Events are streamed on platforms like Twitch and YouTube, letting fans tune in from anywhere in the world.

    Much of the global momentum comes from Asia. South Korea is often credited with legitimising esports through the Starcraft boom of the early 2000s.

    Today, China, Japan and other nations have government-backed esports strategies, dedicated arenas and thriving pro circuits.

    The International Olympic Committee (IOC)’s announcement of the 2027 Esports Games marks a significant step.

    While not part of the main Olympics, this event is a signal esports is valued for its skill, global reach and cultural impact.

    With Brisbane to host the 2032 Olympic and Paralympic Games, this may be Australia’s moment to step up by building talent development pathways and investing in major infrastructure: purpose-built training centres, venues for live competition and streaming and systems to support players from grassroots to elite levels.

    What’s happening in Australia?

    Australia is home to a growing esports community, with thousands of young Australians competing in national and international tournaments.

    Esports have become a central part of youth culture, from local high school leagues to university tournaments.

    Australia has already shown it can host major international esports events. Over the past decade, we’ve hosted qualifiers for titles such as Counter-Strike, Dota 2 and League of Legends.

    Flagship events such as Intel Extreme Masters (IEM), one of the most prestigious esports tournaments globally, continue to highlight Australia’s potential: in 2019, IEM Sydney drew thousands of fans and international teams, filling stadiums and putting Australia on the global esports map.

    More recently, IEM Melbourne in April this year brought Counter-Strike 2 back to local fans.

    If the right infrastructure is developed here, Australia could become a regular destination for international esports tournaments.

    On the education front, universities such as Queensland University of Technology, Swinburne and Southern Cross are leading the way with esports degrees, scholarships and research centres.

    These programs don’t just train players, they prepare students for careers in broadcasting, game development, coaching and performance science.

    Despite limited national support, some states and councils are experimenting with community programs, while broadcasters such as ESL Australia continue to grow local events and coverage.

    Challenges and opportunities

    Australia’s esports industry boasts immense potential, but it still faces significant challenges.

    The biggest hurdle is a lack of national investment and infrastructure.

    Unlike traditional sports, esports have no central body coordinating funding, training or pathways from amateur to professional. While other countries are investing in esports stadiums and elite teams, Australia has largely left the sector to develop on its own.

    Another issue is cultural: esports still struggle for full acceptance from sporting bodies, schools and sections of government.

    Without a coordinated effort to integrate esports into national sporting strategy, Australia risks being left behind.

    Yet the opportunities are clear.

    The IOC’s 2027 Esports Games could be a turning point. Ahead of Brisbane 2032, Australia is uniquely positioned to lead a national commitment to esports infrastructure and player development.

    Brisbane’s organisers could also advocate for esports’ inclusion in the 2032 Olympics, which could position Australia as a leading contender in this emerging field.

    There’s also a chance to combine esports with Australia’s world-class research in sports science and mental health: Australia is leading the way in developing health-focused research and initiatives that address player wellbeing from grassroots to professional levels.

    With the right support, Australia could shift from spectator to serious player.

    Craig is employed as a Senior Lecturer at Queensland University of Technology (QUT). QUT is mentioned within the article in relation to their QUT Esports program.

    Dylan Poulus works for Movember as a Senior Research Fellow in esports and video games and at Southern Cross University as a Senior Lecturer in Psychology. Movember and Southern Cross University are mentioned in the articles in relation to their work in esports. Dylan has received grant funding from the Australian Institute of Sport to investigate esports high-performance.

    ref. Ahead of the Brisbane Olympics, it’s time for Australia to get serious about esports – https://theconversation.com/ahead-of-the-brisbane-olympics-its-time-for-australia-to-get-serious-about-esports-256788

    MIL OSI AnalysisEveningReport.nz

  • South Korea’s new president Lee Jae-myung vows economic revival, judgment on martial law

    Source: Government of India

    Source: Government of India (4)

    South Korea’s new liberal President Lee Jae-myung began his term on Wednesday, vowing to raise the country from the turmoil of a martial law crisis and revive an economy reeling from slowing growth and the threat of global protectionism.

    Lee’s decisive victory in Tuesday’s snap election stands to usher in a sea change in Asia’s fourth-largest economy, after backlash against a botched attempt at military rule brought down Yoon Suk Yeol just three years into his troubled presidency.

    He faces what could be the most daunting set of challenges for a South Korean leader in nearly three decades, ranging from healing a country deeply scarred by the martial law attempt to tackling unpredictable protectionist moves by the United States, a major trading partner and a security ally.

    With 100% of the ballots counted, Lee won 49.42% of the nearly 35 million votes cast while conservative rival Kim Moon-soo took 41.15% in the polls that brought the highest turnout for a presidential election since 1997, according to National Election Commission data.

    The 61-year-old former human rights lawyer called Tuesday’s election “judgment day” against Yoon’s martial law and his People Power Party’s failure to stop the ill-fated move.

    “The first mission is to decisively overcome insurrection and to ensure there will never be another military coup with guns and swords turned against the people,” Lee said in a victory speech outside parliament.

    “We can overcome this temporary difficulty with the combined strength of our people, who have great capabilities,” he said.

    Lee was officially confirmed as president by the National Election Commission on Wednesday and immediately assumed the powers of the presidency and commander in chief.

    An abbreviated inauguration is planned at parliament at 11 a.m. (0200 GMT), an Interior Ministry official said.

    Lee has said he would address urgent economic challenges facing the country on the first day in office with a focus on the cost-of-living concerns affecting middle and low-income families and the struggles of small business owners.

    He also faces a deadline set by the White House on negotiating import duties that Washington has blamed for a large trade imbalance between the countries.

    ‘DEAL WITH TRUMP’

    The government under a caretaker acting president had made little progress in trying to assuage crushing tariffs announced by U.S. President Donald Trump’s administration that would hit some of the country’s major industries, including autos and steel.

    “President Lee will find himself with little to no time to spare before tackling the most important task of his early presidency: reaching a deal with Trump,” the Washington-based Center for Strategic and International Studies said in an analysis.

    U.S. Secretary of State Marco Rubio congratulated Lee on his election win and said the countries “share an ironclad commitment to the Alliance grounded in our Mutual Defense Treaty, shared values, and deep economic ties.”

    He also said that the countries were “modernising the Alliance to meet the demands of today’s strategic environment and address new economic challenges.”

    The White House said the election of Lee was “free and fair” but the United States remained concerned and opposed to Chinese interference and influence in democracies around the world, according to a White House official.

    Lee has expressed more conciliatory plans for ties with China and North Korea, in particular singling out the importance of China as a major trading partner while indicating reluctance to take a firm stance on security tensions in the Taiwan strait.

    Still, Lee has pledged to continue Yoon’s engagement with Japan and said the alliance with the United States is the backbone of South Korea’s global diplomacy.

    The martial law decree and the six months of ensuing turmoil, which saw three different acting presidents and multiple criminal insurrection trials for Yoon and several top officials, marked a stunning political self-destruction for the former leader and a drag on an economy already slowing growth.

    (Reuters)

  • MIL-OSI Asia-Pac: President Lai welcomes President Hilda C. Heine of Republic of the Marshall Islands with military honors  

    Source: Republic of China Taiwan

    Details
    2025-05-29
    President Lai attends 2025 Europe Day Dinner
    On the evening of May 29, President Lai Ching-te attended the 2025 Europe Day Dinner. In remarks, President Lai stated that Taiwan looks forward to further establishing institutionalized mechanisms with Europe for our trade and investment ties and hopes to take an innovative and diverse approach to sign an economic partnership agreement with the European Union, to provide a more transparent, stable, and predictable business environment for our enterprises. The president said that Taiwan will actively work alongside other democracies, including those in Europe, to jointly build resilient, promising non-red supply chains, and noted that Taiwan and Europe have endless potential for collaboration, whether it is in safeguarding freedom and democracy or advancing our economic and trade relationship. He expressed hope to further strengthen our partnership and work together toward global peace, stability, and prosperity. A transcript of President Lai’s remarks follows: Chairman [Henry] Chang (張瀚書), thank you for the invitation, and congratulations on your second term. I’m confident that under your leadership, the ECCT [European Chamber of Commerce Taiwan] will build even more bridges for cooperation between Taiwan and Europe. I would also like to thank EETO [European Economic and Trade Office] Head [Lutz] Güllner and all the European country representatives stationed in Taiwan. Your hard work over the years has helped deepen Taiwan-Europe relations and brought about such fruitful cooperation. Thank you. This year we celebrate the 75th anniversary of the Schuman Declaration. In 1950, then-French Foreign Minister Robert Schuman proposed to create a European federation dedicated to preserving peace. The declaration symbolized a new flowering in the post-war era of democracy, unity, and cooperation. As we face the geopolitical challenges and drastic economic changes of today’s world, the Schuman Declaration still speaks to us profoundly. This year is also the 80th anniversary of the end of World War II in Europe. Moving forward, Taiwan will continue to advance cooperation with our democratic partners, and will join hands with Europe to build a partnership of even greater resilience and mutual trust. Europe is Taiwan’s third largest trading partner. It is also Taiwan’s largest source of foreign direct investment. Last year, bilateral trade between Taiwan and Europe totaled US$84.7 billion. This demonstrates our vibrant economic and trade ties and reflects the high levels of confidence our businesses have in each other’s markets and systems. We look forward to Taiwan and Europe further establishing institutionalized mechanisms for our trade and investment ties. And we hope to take an innovative and diverse approach to sign an economic partnership agreement with the EU, to provide a more transparent, stable, and predictable business environment for our enterprises. Today’s Taiwan has an internationally recognized democracy and a semiconductor industry vital to global security and prosperity. This enables us to play a key role in restructuring global democratic supply chains and the economic order. In particular, we see supply chains dominated by a new authoritarian bloc expanding their influence through non-market mechanisms, price subsidies, and monopolies on resources, as they seek global control of critical technologies and manufacturing capabilities. Their actions not only distort principles of market fairness, but also threaten the international community’s basic expectations for democracy, the rule of law, and corporate responsibility. In response, Taiwan will actively work alongside other democracies, including those in Europe, to jointly build resilient, promising non-red supply chains. We will also introduce an initiative on semiconductor supply chain partnerships for global democracies. This is more than a proposal for economic cooperation; it is an alliance of shared values and advanced technology. Security in the Taiwan Strait and regional peace and stability have always been issues of mutual interest for Taiwan and Europe. So here today, on behalf of all the people of Taiwan, I would like to thank the EU and European nations for continuing to take concrete actions in public support of peace and stability across the strait. Such actions are vital to regional security and prosperity. Taiwan will continue to bolster itself to achieve real peace through strength, and will work with democratic partners to safeguard freedom and democracy, thereby showing our determination for regional peace. At this critical time, Taiwan and Europe have endless potential for collaboration, whether it’s in safeguarding freedom and democracy or advancing our economic and trade relationship. I look forward to our joining hands at this strategic juncture to further strengthen our partnership and work together toward global peace, stability, and prosperity. Also in attendance at the event was British Office Taipei Representative Ruth Bradley-Jones.

    Details
    2025-05-28
    President Lai meets US delegation led by Senator Tammy Duckworth
    On the afternoon of May 28, President Lai Ching-te met with a delegation led by United States Senator Tammy Duckworth. In remarks, President Lai thanked the US Congress and government for their longstanding and bipartisan support for Taiwan. The president stated that Taiwan will continue to strengthen cooperation with the US and jointly safeguard regional peace and stability. He pointed out that the Taiwan government has already proposed a roadmap for deepening Taiwan-US trade ties and will encourage mutual investment between Taiwanese and US businesses. He then expressed hope of deepening Taiwan-US ties and creating more niches for both sides. A translation of President Lai’s remarks follows: I warmly welcome this delegation led by Senator Duckworth, a dear friend of Taiwan. Senator Duckworth previously visited in May last year to convey congratulations after the inauguration of myself and Vice President Bi-khim Hsiao. Your bipartisan delegation was the first group from the US Senate that I met with as president. Today, you are visiting just after the first anniversary of my taking office, demonstrating the staunch support of the US and our deep friendship. On behalf of the people of Taiwan, I extend my sincere appreciation and greetings. And I invite you to come back and visit next year, the year after that, and every year. Taiwan and the US share the values of democracy and the rule of law and believe in free and open markets. Both sides embrace a common goal of peace, stability, and prosperity in the Indo-Pacific region. I thank the US Congress and government for their longstanding, bipartisan, and steadfast support for Taiwan. In 2021, to help Taiwan overcome the challenges of the COVID-19 pandemic, Senator Duckworth made a special trip here to announce that the US government would be donating vaccines to Taiwan. In recent years, Senator Duckworth has also promoted the TAIWAN Security Act, STAND with Taiwan Act, and Taiwan and America Space Assistance Act in the US Congress, all of which have further deepened Taiwan-US cooperation and steadily advanced our ties. For this, I express my deepest appreciation. I want to emphasize that the people of Taiwan have an unyielding determination to protect their homeland and free and democratic way of life. Over the past year, the government and private sector have been working together to enhance Taiwan’s whole-of-society defense resilience. The government is committed to reforming national defense, and it has proposed prioritizing special budget allocations to ensure that our defense budget exceeds three percent of GDP. This will continue to bolster Taiwan’s self-defense capabilities. Moving forward, Taiwan will continue to strengthen cooperation with the US. In addition to jointly safeguarding regional peace and stability, we also aspire to deepen bilateral trade and economic ties. At the SelectUSA Investment Summit in Washington, DC, earlier this month, Taiwan’s delegation was once again the biggest delegation attending the event – proof positive of our close economic and trade cooperation. We have already proposed a roadmap for deepening Taiwan-US trade ties. We will narrow the trade imbalance through the procurement of energy and agricultural and other industrial products from the US. We will encourage mutual investment between Taiwanese and US businesses to stimulate industrial development on both sides, especially in such industries as national defense and shipbuilding. We therefore look forward to Congress passing the US-Taiwan Expedited Double-Tax Relief Act as soon as possible, as this would deepen Taiwan-US trade ties and create more niches for business. In closing, I once again thank Senator Duckworth for making the trip to Taiwan. Let us continue to work together to elevate Taiwan-US ties. I wish you a pleasant and successful visit. Senator Duckworth then delivered remarks, saying that she is happy to be back in Taiwan and that she wanted to make sure to come back just after President Lai’s one-year anniversary of taking office to show the dedication and the outstanding friendship that we have. She noted that because no matter who is in the White House, no matter which political party is in power in Washington, DC, she has always believed that if America wants to remain a leader on the global stage, it has to show up for friends like Taiwan.  Senator Duckworth mentioned that in the years that she has been coming to Taiwan since pre-COVID times, she has seen a remarkable increase in participation in its defense and the support of the Taiwanese people for defending the homeland. She then thanked Taiwan for making the commitment to its self-defense, and also for being a partner with other nations around the world.  The STAND with Taiwan Act, the senator noted, is so named because the US wants to stand side by side with Taiwan. Pointing out that Taiwan is an important leader in the Indo-Pacific and on the global stage, she reiterated that there is support on both sides of the aisle in Washington for Taiwanese democracy, and added that the people of Taiwan are showing that they are willing to shore up their own readiness. Senator Duckworth said that whether it is delivering vaccines to Taiwan or making sure that the US National Guard works with Taiwan’s reserve forces or even with its civilian emergency response teams, these are all important components to the ongoing partnership between our nations.  Senator Duckworth indicated that there are many great opportunities moving forward beyond our military cooperation with one another. Whether it is in chip manufacturing, agricultural investments, shipbuilding, or in the healthcare field, those investments in both nations will facilitate stability and development in both our nations. She said that is why she wants to continue the Taiwan-US relationship, underlining that they are in it for the long haul. The delegation was accompanied to the Presidential Office by American Institute in Taiwan Taipei Office Director Raymond Greene.

    Details
    2025-05-27
    President Lai meets delegation led by US House Natural Resources Committee Chair Bruce Westerman
    On the afternoon of May 27, President Lai Ching-te met with a delegation led by Chair of the Natural Resources Committee of the United States House of Representatives Bruce Westerman. In remarks, President Lai stated that Taiwan and the US enjoy close industrial exchanges and continue to explore new opportunities for investment and collaboration. The president said that Taiwan will continue to increase purchases from and together build non-red supply chains with the US, expressing hope that economic and trade relations grow even closer and that both work together to jointly safeguard peace and stability throughout the region. A translation of President Lai’s remarks follows: I am delighted to meet and exchange views with members of the US House Committee on Natural Resources today. Chair Westerman, the leader of this delegation, is an old friend of Taiwan. On behalf of the people of Taiwan, I extend a very warm welcome to the delegation. I also want to thank you all for your long-term close attention to Taiwan-related affairs and your strong support for Taiwan. Taiwan and the US enjoy close ties and share ideals and values. There is an excellent foundation for cooperation between us, particularly in such areas as energy, the economy and trade, agriculture and fisheries, environmental protection, and sustainable development. In recent years, Taiwan-US ties have grown closer and closer. The US has become Taiwan’s largest destination for overseas investment, accounting for over 40 percent of Taiwan’s outbound investment. Taiwan is also the seventh largest trading partner of the US and its seventh largest export market for agricultural products. The SelectUSA Investment Summit held in Washington, DC earlier this month was the largest in its history. Taiwan’s delegation, representing 138 enterprises, was once again the biggest delegation attending the event. This shows that Taiwan and the US enjoy close industrial exchanges and continue to explore new opportunities for investment and collaboration. Looking ahead, with the global landscape changing rapidly, Taiwan will continue to increase purchases from the US, including energy resources such as natural gas and petroleum, as well as agricultural products, industrial products, and even military procurement. This will not only help balance our bilateral trade, but also strengthen development for Taiwan in energy autonomy, resilience, the economy, and trade. Taiwan and the US are also well-matched in such areas as high tech and manufacturing. As the US pursues reindustrialization and aims to become a global hub for AI, Taiwan is willing to take part and play an even more important role. We will strengthen Taiwan-US industrial cooperation and together build non-red supply chains. In addition to bringing our economic and trade relations even closer, this will also allow Taiwanese industries to remain rooted in Taiwan while expanding their global presence, helping bolster the US, and marketing worldwide. As for military exchanges, we are grateful to the US government for continuing its military sales to Taiwan and backing our efforts to upgrade our self-defense capabilities. Taiwan will continue to work with the US to jointly safeguard peace and stability throughout the region. In closing, I thank our guests once again for making the long journey here, not only offering warm friendship, but also demonstrating the staunch bipartisan support for Taiwan in the US Congress. Chair Westerman then delivered remarks, saying that it is an honor for him and his colleagues to be in Taiwan to talk about the strong relationship between the US and Taiwan and how that relationship can continue to grow in the future. The chair pointed out that natural resources are foundational to any kind of economic development, whether it is energy, which is key to manufacturing, or whether it is mining, which provides rare earth elements and all the minerals and metals needed for manufacturing. He said that as for natural resources including fish, wildlife, or timber, all are foundational to any society, but this is especially so for agriculture, noting that the US produces a lot of food and fodder and is always looking for more friends to share that with. Chair Westerman indicated that they are excited about opportunities to work with Taiwan, adding that Taiwan’s investments in the US have been greatly appreciated. He said they also are excited about the talks with the Trump administration and the future going forward on how we can have a stronger trade relationship, a stronger bilateral relationship, and how we can work with each other to help both economies grow and prosper. Chair Westerman concluded his remarks by expressing thanks for the opportunity to visit, saying that they treasure Taiwan’s friendship and our long-term relationship, and are very excited to be able to discuss in more detail how our two countries can work together. The delegation also included US House Natural Resources Committee Representatives Sarah Elfreth, Harriet Hageman, Celeste Maloy, and Nick Begich. The delegation was accompanied to the Presidential Office by American Institute in Taiwan Taipei Office Director Raymond Greene.  

    Details
    2025-05-27
    President Lai meets and hosts luncheon for delegation led by Governor Lourdes A. Leon Guerrero of Guam
    On the morning of May 27, President Lai Ching-te met with a delegation led by Governor Lourdes A. Leon Guerrero of Guam and her husband, and hosted a luncheon for the delegation at noon. In remarks, President Lai noted that this is the governor’s first trip to Taiwan, fully demonstrating the Guam government’s support and high regard for Taiwan. The president said that Guam, being the closest United States territory to Taiwan, is an important bridge for collaboration between Taiwan and the US. He stated that aside from promoting tourism, we can also explore even more opportunities for collaboration in other areas to further advance industrial development for both sides. He said that, as we begin a new chapter, we look forward to working together to generate even more momentum in bilateral cooperation and exchanges. A translation of President Lai’s remarks follows: On behalf of the people of Taiwan, I extend a warm welcome to Governor Leon Guerrero and her delegation. Last year, I transited through Guam en route for visits to Taiwan’s diplomatic allies in the Pacific. The enthusiastic reception I received from the government, legislature, people, and members of our overseas community in Guam was very touching and left me with a deep impression. During the morning tea reception hosted by Governor Leon Guerrero, we joined in singing our respective national anthems, as well as the Fanohge CHamoru. I also received at the Guam Legislature a copy of a Taiwan-friendly resolution it passed on behalf of the people of Taiwan. And I still remember to this day the striking scenery of the governor’s house and the warm reception I received there. It is therefore a great pleasure to meet with all of you today here at the Presidential Office. This is Governor Leon Guerrero’s first trip to Taiwan. Your visit fully demonstrates the Guam government’s support and high regard for Taiwan. As we begin a new chapter, we look forward to working with you to generate even more momentum in bilateral cooperation and exchanges. Taiwan and Guam are like family. We share the Austronesian spirit and culture. Our wide-ranging and mutually-beneficial collaboration is very fruitful. And now, we are facing the challenges of climate change, public health and medicine, and regional security together. The world is rapidly changing and tensions in the Indo-Pacific continue to rise. But if we combine our strengths, come together as one, and enhance cooperation, we can maintain regional peace, stability, and prosperity. Last Tuesday, I delivered an address on my first anniversary of taking office. I mentioned that for many years, Taiwan, the US, and our democratic partners have actively engaged in exchange and cooperation. Taking a market-oriented approach, we will promote an economic path of staying firmly rooted in Taiwan and expanding the global presence of our enterprises while strengthening ties with the US. Guam is the closest US territory to Taiwan. It is an important bridge for collaboration between Taiwan and the US. Last month, we were pleased to see United Airlines officially launch direct flights between Taipei and Guam. I believe this will benefit tourism and economic and trade exchanges for both sides. In the area of health care, many hospitals in Taiwan already offer referral services to patients from Guam. Both Governor Leon Guerrero and I have backgrounds in medicine. It is my hope that Taiwan and Guam can continue to work hand in hand to create even more positive outcomes from cooperation in public health and medical services. During the governor’s visit, aside from promoting tourism, we can also explore even more opportunities for collaboration in other areas. There is potential for more exchanges in aquaculture, food processing, hydroculture, manufacturing, pharmaceuticals, and recycling. This will further advance industrial development in Taiwan and Guam. In closing, I thank Governor Leon Guerrero and all our distinguished guests for backing Taiwan. I wish you all a smooth and successful visit.  Governor Leon Guerrero then delivered remarks, saying that she is very happy to come to Taiwan. She said that after learning during President Lai’s visit to Guam last year that he is a medical doctor, she felt more relaxed because healthcare colleagues are one in their endeavor to help enhance the health and well-being of people. She then expressed her heartfelt appreciation for the invitation to Taiwan.  Governor Leon Guerrero said that as they learn more about opportunities for collaboration with Taiwan, they are humbled by the hospitality they have experienced. In both of our islands, she said, hospitality is more than just a custom – it forms a part of our identities. She noted that despite being nearly 2,000 miles apart, we are connected by the Pacific Ocean and common roots, and our ancestors both value family, community, and tradition. That is why being here today, she said, she feels a strong sense of familiarity, like reconnecting with old friends. The governor remarked that Taiwan has evolved so quickly in all areas of essential life, sustenance, economy, and prosperity, adding that Taiwan’s resources in such areas as health, education, data, AI, advanced technology, aquaculture, agriculture, and commerce enhance our economic stability. She stated her belief that in collaboration and support, and working with each other, we can gain prosperity, maintain freedom and democracy, and live in peace.  Governor Leon Guerrero stated that their delegation is here to see how they can partner with Taiwan to help raise the quality of life for both our peoples, mentioning that one special concern of theirs is tourism. Tourism, she said, is the most influential engine and driver for the economy and quality of life in Guam, but they cannot have a vibrant economy and tourism without air connectivity. She added that they are prepared to help in any way to provide incentives and low-cost fees so that they can get more airlines from Taiwan to establish permanent flight schedules to Guam, so as to drive development in Guam’s tourism industry. Governor Leon Guerrero then proceeded to introduce each of the members of her delegation before remarking that while they have been very busy on this visit they are always reminded of the freedom and democracy that the people must protect. She said she looks forward to a great, strong relationship between Taiwan and Guam in cooperation on social and economic issues, in culture, marketing, tourism, and freedom and democracy. Among those in attendance were First Gentleman Jeffrey A. Cook, Chief of Staff Jon Junior Calvo, Director of the Department of Administration Edward Birn, General Manager of the Guam Visitors Bureau Regine Biscoe Lee, Deputy Executive Manager of the Guam International Airport Authority Artemio “Ricky” Hernandez, Board of Directors Chairman of the Guam International Airport Authority Brian J. Bamba, Deputy General Manager of the Guam Economic Development Authority Carlos Bordallo, Director of Landscape Management Systems Guam Bob Salas, Chairperson of the Guam Chamber of Commerce Tae Oh, President of the University of Guam Anita Borja Enriquez, and Director of the Guam Taiwan Office Felix Yen (嚴樹芬). After the meeting, President Lai, accompanied by Vice President Bi-khim Hsiao, hosted a luncheon for Governor Leon Guerrero, her husband, and the delegation.

    Details
    2025-05-27
    President Lai meets delegation from European Parliament
    On the morning of May 27, President Lai Ching-te met with a delegation from the European Parliament. In remarks, President Lai thanked the European Parliament for continuing to pay close attention to peace and stability across the Taiwan Strait and voice support for Taiwan. The president expressed hope for an even closer relationship and diversified cooperation between Taiwan and the European Union. The president said that Taiwan and the EU can work together in such areas as semiconductors, AI, and green energy to create more resilient supply chains for global democracies and contribute to global prosperity and development. A translation of President Lai’s remarks follows: I warmly welcome our guests to the Presidential Office. After being elected last year, MEPs Reinis Pozņaks and Beatrice Timgren are making their first visits to Taiwan, demonstrating support for Taiwan through concrete action. On behalf of the people of Taiwan, I extend my sincerest welcome and appreciation. I would also like to take this opportunity to thank the European Parliament for continuing to pay close attention to peace and stability across the Taiwan Strait. Just last month, the European Parliament adopted resolutions with regard to annual reports on the implementation of the European Union’s Common Foreign and Security Policy and Common Security and Defence Policy. These resolutions reaffirmed the EU’s steadfast commitment to maintaining the status quo across the Taiwan Strait. The European Parliament also condemned China for continuing to take provocative military actions against Taiwan and emphasized that Taiwan is a key democratic partner in the Indo-Pacific region. It called on the EU and its member states to continue working closely with Taiwan to strengthen economic, trade, and investment ties. Once again, I thank the European Parliament for voicing support for Taiwan. Just as MEPs Pozņaks and Timgren are visiting Taiwan to strengthen Taiwan-EU exchanges, our Minister of Economic Affairs Kuo Jyh-huei (郭智輝) also led a delegation to Europe last year, marking the first in-person dialogue between high-ranking economic and trade officials of Taiwan and the EU. Moving ahead, we look forward to bringing Taiwan-EU ties even closer and to diversifying our cooperation. The EU is Taiwan’s largest source of foreign investment. Both sides are highly complementary in such areas as semiconductors, AI, and green energy. Through our joint efforts, we can create more resilient supply chains for global democracies and further contribute to global prosperity and development. Looking ahead, I hope that MEPs Pozņaks and Timgren will continue to make the case in the European Parliament for the signing of a Taiwan-EU economic partnership agreement. This would not only yield mutually beneficial development, but also consolidate economic security and boost international competitiveness for both sides. In closing, I am sure that you will gain a deeper understanding of Taiwan through this visit. Please feel welcome to come back as often as possible as we continue to elevate Taiwan-EU ties.  MEP Pozņaks then delivered remarks, saying that it is a great honor to be here and thanking everybody involved in arranging this trip that allows them the opportunity to better know Taiwan. He added that it is definitely not the last time they will be here, as Taiwan is a very beautiful country. MEP Pozņaks mentioned that he comes from Latvia, and despite their being on the other side of the world, they know how the Taiwanese people feel, because they also have a big neighbor who is claiming that Latvia belongs to them. Unfortunately, he said, there is already war in Europe, but he is confident that their situation is similar to Taiwan’s, adding that they have a neighbor who uses disinformation attacks. MEP Pozņaks said that we live in very challenging times, and that our choices will define the future of the world, asking whether it will be a world where the rule of law prevails or where physical power and aggression succeeds. Coming from a small country, he said he clearly understands that for them there is no other possibility; they must protect the world where the rule of law prevails. That is why now, he emphasized, it is very crucial for all democracies around the world to stick together to protect our freedoms, values, and democracy. MEP Timgren then delivered remarks, thanking President Lai for meeting with them and saying it is a big honor. Noting that they arrived here two days ago and that while she really loves Taiwan, its food, and the good weather, she stated that the reason they are here is because of the values that we share, our good relationships, and solidarity with other democratic countries in the world, which is important for them in Europe and in Sweden. MEP Timgren, referring to MEP Pozņaks’s earlier remarks, said that they face a big threat from Russia that is discernible even in the European Parliament. Actually, she pointed out, there is a war inside Europe that shows us how important it is that we support one another. She said that the Russian people thought it would be easy to take over Ukraine, but it was not, because all European countries stepped up and provided weapons and support. And that is why, MEP Timgren said, it is important that democratic countries maintain good relationships and let China and Russia see that we have good relationships, because a part of defense is solidarity. In closing, she expressed her gratitude for having the honor to be here in this beautiful country.

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

    MIL OSI Asia Pacific News

  • MIL-OSI Banking: Money Market Operations as on June 03, 2025

    Source: Reserve Bank of India


    (Amount in ₹ crore, Rate in Per cent)

      Volume
    (One Leg)
    Weighted
    Average Rate
    Range
    A. Overnight Segment (I+II+III+IV) 5,89,368.22 5.63 4.00-6.65
         I. Call Money 14,292.98 5.77 4.85-6.65
         II. Triparty Repo 3,94,520.60 5.59 5.40-5.77
         III. Market Repo 1,79,199.44 5.68 4.00-5.90
         IV. Repo in Corporate Bond 1,355.20 5.92 5.85-6.60
    B. Term Segment      
         I. Notice Money** 122.50 5.66 5.40-5.70
         II. Term Money@@ 278.00 5.70-6.10
         III. Triparty Repo 1,881.50 5.68 5.64-5.80
         IV. Market Repo 0.00
         V. Repo in Corporate Bond 0.00
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Tue, 03/06/2025 1 Wed, 04/06/2025 5,019.00 6.01
         (b) Reverse Repo          
    3. MSF# Tue, 03/06/2025 1 Wed, 04/06/2025 447.00 6.25
    4. SDFΔ# Tue, 03/06/2025 1 Wed, 04/06/2025 3,14,265.00 5.75
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -3,08,799.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,272.43  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     8,272.43  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -3,00,526.57  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on June 03, 2025 9,48,458.20  
         (ii) Average daily cash reserve requirement for the fortnight ending June 13, 2025 9,41,551.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ June 03, 2025 5,019.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on May 16, 2025 3,48,763.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/472

    MIL OSI Global Banks

  • MIL-OSI China: Drones empower China’s medical emergency systems

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

    Shen Jun (C), vice president of Tianjin Medical University Cancer Institute and Hospital, receives emergency blood supply delivered by a drone during a simulated test flight at the hospital’s Binhai branch in Tianjin, north China, May 21, 2025. (Xinhua)

    China is rapidly integrating drone technology into its medical emergency systems, with breakthroughs in multiple cities demonstrating enhanced efficiency in critical care logistics.

    North China’s Tianjin Municipality launched its first medical drone route in late May, marked by a successful simulated emergency blood supply test flight. The flight connected a blood station at the Binhai New Area and the Tianjin Medical University Cancer Hospital’s Binhai branch.

    “The drone route creates an emergency blood lifeline for patients in critical conditions,” said Shen Jun, vice president of the hospital.

    Carrying a 5kg payload, the drone is equipped with a temperature-controlled medical box that allows for temperature, location and flight status monitoring in real-time. Its efficient point-to-point delivery avoids delays caused by road traffic, saving precious time for emergency treatment.

    Amid the rapid growth of China’s low-altitude economy, low-altitude medical services, as a niche sector, are expanding their applications, driving an unprecedented transformation in healthcare.

    In November 2024, the National Healthcare Security Administration added “air medical transport” to the national medical service price catalog, mandating standardized pricing in the country’s provincial areas by the end of May this year. Commercial health insurance providers are also encouraged to explore coverage for these services. The guideline has accelerated the adoption of low-altitude aircraft in medical applications.

    Bolstered by technology and policy support, Chinese provinces like Zhejiang, Guangdong and Fujian are actively exploring the application of drones in their medical systems, transporting test samples, blood, emergency supplies and medicine, which are crucial for saving critical treatment times.

    In the city of Zigong, southwest China’s Sichuan Province, drones have become a routine part of medical services.

    According to the municipal health commission, the city has opened 25 low-altitude routes linking 28 sites for medical transport. As of May 27, drones had completed 5,270 flights for medical use.

    The drones are automated, cloud-controlled models built for urban operations. Cruising at 72km per hour with an 18-km range, they operate 70 percent to 80 percent faster than ground transport.

    “Usually, it takes at least 30 to 40 minutes from the hospital branch of Bancang to the headquarters by ground transportation. Drones cut this to 11 minutes,” said Huang Yuting, transport manager at Zigong First People’s Hospital, referring to a case in which a drone delivered a drug for emergency use last August.

    Hao Jihui, president of Tianjin Medical University Cancer Hospital, said the low-altitude transport system breaks geographical barriers, enhances emergency response, and significantly improves medical resource efficiency by cutting costs and transportation times.

    “We’ll expand drone applications to enhance cross-regional medical resource allocation and meet multi-level health service demands,” Hao added.

    MIL OSI China News

  • MIL-OSI China: China rising in rankings of universities

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

    China Daily | June 4, 2025

    Students take selfies during the 8th International Culture Festival of Tianjin Foreign Studies University in North China’s Tianjin, April 20, 2025. [Photo/Xinhua]

    The global higher education landscape is undergoing a profound transformation, as China shows consistent improvement in academic output while universities in the United States face downward pressure in global rankings amid recent student visa policies, experts said.

    China has surpassed the US for the first time in the number of universities listed in the latest Global 2000 university rankings. Chinese institutions now account for 17 percent of the list, up from 324 last year to 346 this year, while the number of ranked US universities dropped from 329 to 319.

    The World University Rankings 2025, released on Monday by the Center for World University Rankings, revealed that 98 percent of Chinese universities improved their positions — a surge attributed to enhanced research performance and sustained government investment in higher education.

    Tsinghua University rose six places to rank 37th, excelling in employability and research. Peking University advanced three places to the 44th, while the University of Chinese Academy of Sciences jumped four places to 46th — surpassing Shanghai Jiao Tong University in the 61st place and Zhejiang University in the 68th position.

    Nadim Mahassen, president of the Center for World University Rankings, said that China is well represented among the world’s top universities, and further financial backing from the government will allow the country to be more competitive in the rapidly evolving global academic landscape.

    Although the US still has eight of the world’s top 10 universities — led by Harvard, MIT and Stanford — 83 percent of its listed institutions declined in rank. The United Kingdom’s Cambridge and Oxford secured the fourth and fifth places, respectively.

    Mahassen said that while the US still boasts the top universities in the world, the decline in ranking of the vast majority of its higher education institutions on the list is concerning.

    “At a time when Chinese universities are reaping the rewards of years of generous financial support from their government, American institutions are grappling with slashed federal funding and disputes over academic freedom and free speech,” he said.

    Recent controversies, such as the Trump administration’s move to revoke enrollment of international students at Harvard, later blocked by a federal judge, highlight the challenges facing US higher education.

    “For many years, American universities were able to attract a large number of international students, particularly from China. But with China’s extraordinary ascent in the rankings, coupled with the recent visa policies of the US, the situation may change soon,” Mahassen said.

    Liu Wei, senior vice-president of New Channel International Education Group and CEO of its overseas study division, said that China has been gaining ground in multiple international ranking systems — including QS, Times Higher Education and the Academic Ranking of World Universities — showing consistent improvement in academic output and global research influence.

    He emphasized that recent US visa policies toward Chinese students, such as the announcement of revoking the visas of some of those studying in “critical fields”, are also influencing the global higher education landscape and may affect the future rankings of US and Chinese institutions.

    “Stricter visa policies have introduced uncertainty for Chinese students seeking to study in the US, prompting many to consider alternatives,” Liu said.

    Countries such as the UK, Canada, Australia and Singapore, as well as some European countries, have ramped up efforts to attract international students, particularly those diverting from the US.

    Universities in the Hong Kong Special Administrative Region also moved quickly to offer assistance when Harvard’s ability to admit international students was curtailed.

    Chen Zhiwen, a member of the Chinese Society of Educational Development Strategy, said that Chinese students contribute significantly to research productivity and academic exchanges on US campuses, especially in the fields of science, technology, engineering and math, as well as among postgraduate students.

    A decline in the number of Chinese students due to visa policies could have an impact on academic output in US higher education, Chen said. Chinese universities could benefit from this in the long term, as students who planned to study in the US may instead enroll in top domestic institutions, boosting China’s academic and research environment, he added.

    “Since 2018, the proportion of Tsinghua University graduates pursuing overseas studies has shown a declining trend,” he said, adding that the trend could usher in a more multipolar higher education system, reducing the US’ historical dominance.

    MIL OSI China News

  • MIL-OSI USA: VIDEO: On Senate Floor, Rosen Slams Trump Administration’s Plan to Shut Down Sierra Nevada Job Corps, Calls for Bipartisan Action

    US Senate News:

    Source: United States Senator Jacky Rosen (D-NV)

    Senator Rosen Called On Her Colleagues On Both Sides Of The Aisle To Take Action To Push Back On Trump’s Decision To Close Job Training Centers

    Watch Senator Rosen’s Full Remarks HERE.
    WASHINGTON, DC – Today, U.S. Senator Jacky Rosen (D-NV) took to the Senate floor to fiercely condemn the Trump Administration’s reckless decision to gut the Job Corps program and shut down Jobs Corps centers across the country, including the Sierra Nevada Job Corps Center in Reno, a skills training program that provides students an opportunity to learn new skills. Senator Rosen warned that the closure would hurt students who are currently enrolled and leave them without the skills they need to access good-paying jobs and achieve the American Dream. Senator Rosen called the decision short-sighted and cruel, and demanded an immediate reversal of the shutdown order.
    Below are excerpts of Senator Rosen’s floor remarks:
    I rise today to shine a light on Donald Trump’s dismantling of yet another critical program that Nevadans, and young people across our nation, rely on: the Job Corps program. 
    Job Corps was established by Congress to provide young people with the skills training that they need to access good-paying, in-demand jobs. 
    It is the largest residential career training program in the entire country – providing young people, many of whom were previously homeless or at-risk, with housing and skills training in fields like manufacturing, construction, and health care.
    Once they graduate, they enter the workforce and contribute to our communities and our economy.
    They learn the skills necessary to build their lives, to build their futures. 
    It’s truly a great program that has helped more than 3 million people have a chance at the American Dream since 1964.
    Unfortunately, Job Corps centers across the country received a “stop work” order at the end of last week that instructed them to close their doors and send all of their students back home, including Nevada’s Job Corps campus, the Sierra Nevada Job Corps center in Reno, Nevada.
    This is going to be devastating – devastating – for the tens of thousands of young people who are currently enrolled in all 50 states.
    The Trump Administration, well, it claims it supports trade schools and job training.
    But frankly, Mr. President, if this Administration really knew anything about the Job Corps program, they’d know that they are trade schools. 
    They are centers where students go, where they study, where they work hard, and where they earn their certifications that allow them to access good-paying jobs.
    So, why is Donald Trump closing down this program and taking away the opportunity for these students to work? It just doesn’t make any sense.
    Shutting down this program will also immediately evict more than three hundred students at the Nevada campus alone, many of whom have nowhere else to go.

    MIL OSI USA News

  • MIL-OSI: Orange County Bancorp, Inc. Announces Pricing of Public Offering of Common Stock

    Source: GlobeNewswire (MIL-OSI)

    MIDDLETOWN, N.Y., June 03, 2025 (GLOBE NEWSWIRE) — Orange County Bancorp, Inc. (the “Company” – Nasdaq: OBT), parent company of Orange Bank & Trust Company, (the “Bank”) and Hudson Valley Investment Advisors, Inc. (“HVIA”), today announced the pricing of an underwritten public offering of 1,720,430 shares of its common stock at a price of $23.25 per share. The Company also granted the underwriters a 30-day option to purchase up to an additional 258,064 shares of common stock.

    The aggregate gross proceeds of the offering will be approximately $40.0 million before discounts and expenses. Assuming full exercise by the underwriters of their option to purchase additional shares, the aggregate gross proceeds of the offering would be approximately $46.0 million before discounts and expenses. The Company plans to use the net proceeds from the offering for general corporate purposes, which may include investments in the Bank supporting continued growth, augmenting regulatory capital and liquidity and providing for potential strategic acquisitions. The Company has no current plans, arrangements or understandings relating to any specific acquisition or similar transaction. The offering is expected to close on June 5, 2025, subject to customary closing conditions.

    Piper Sandler & Co. and Stephens Inc. are serving as joint book-running managers.

    The Company has filed with the Securities and Exchange Commission (the “SEC”) a shelf registration statement (including a prospectus) on Form S-3 (File No. 333-280793) and a preliminary prospectus supplement for the offering to which this press release relates. Before you invest, you should read the preliminary prospectus supplement and the accompanying prospectus, including the information incorporated by reference therein, and the other documents we have filed and will file with the SEC for more complete information about the Company and this offering. The proposed offering is being made only by means of an effective shelf registration statement, including a preliminary prospectus supplement and final prospectus supplement, copies of which may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. Additionally, electronic copies may be obtained from Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by phone at 1-800-747-3924, or by email at prospectus@psc.com, or Stephens Inc., 111 Center Street, Little Rock, AR 72201, or by phone at 1-800-643-9691.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.   The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement or the shelf registration statement or prospectus relating thereto.

    About Orange County Bancorp, Inc.

    Orange County Bancorp, Inc. is the parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors, Inc. Orange Bank & Trust Company is an independent bank that began with the vision of 14 founders over 125 years ago. It has grown through innovation and an unwavering commitment to its community and business clientele to approximately $2.6 billion in total assets. Hudson Valley Investment Advisors, Inc. is a Registered Investment Advisor in Goshen, NY. It was founded in 1996 and acquired by the Company in 2012.

    Forward-Looking Statements

    The information disclosed in this press release includes various forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words “anticipates,” “projects,” “intends,” “estimates,” “expects,” “believes,” “plans,” “may,” “will,” “should,” “could,” and other similar expressions are intended to identify such forward-looking statements. The Company cautions that these forward-looking statements are necessarily speculative and speak only as of the date made, and are subject to numerous assumptions, risks and uncertainties, all of which may change over time. Actual results could differ materially from such forward-looking statements. Accordingly, you should not place undue reliance on forward-looking statements. In addition to the specific risk factors disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, the following factors, among others, could cause actual results to differ materially and adversely from such forward-looking statements: those related to the real estate and economic environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, inflation, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, tariffs, increased levels of loan delinquencies, problem assets and foreclosures, credit risk management, asset-liability management, cybersecurity risks, geopolitical conflicts, public health issues, the financial and securities markets and the availability of and costs associated with sources of liquidity. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

    For further information:
    Michael Lesler
    EVP & Chief Financial Officer
    mlesler@orangebanktrust.com
    Phone: (845) 341-5111

    The MIL Network

  • MIL-OSI China: China launches service consumption season

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

    A staff member works at an oil-paper umbrella shop in Huangling Village of Wuyuan County, east China’s Jiangxi Province, July 3, 2024. [Photo/Xinhua]

    This year’s national service consumption season was launched on Tuesday in Nanjing, capital city of east China’s Jiangsu Province, marking a major initiative to boost growth in the service sector.

    Co-hosted by the Ministry of Commerce and China Media Group, the initiative aims to cultivate new consumption hotspots while fostering a virtuous cycle between supply and demand in China’s service economy.

    The campaign brings together government departments, industry associations and leading companies to jointly hold more than 160 key events, so as to innovate consumption scenarios, unlock consumer potential, expand high-quality service supply, and meet diversified public demand.

    Jiangsu’s service consumption expenditure accounted for 46.3 percent of its total consumer spending in 2024, 0.2 percentage points higher than the national average. 

    MIL OSI China News

  • MIL-OSI China: US Disney laying off hundreds of employees worldwide

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

    The Walt Disney Co., a U.S. mass media and entertainment conglomerate, is laying off several hundred employees worldwide as it looks to trim some costs and adapt to evolving industry conditions.

    The exact number of jobs being cut is unknown, but layoffs will occur across several divisions, including television and film marketing, TV publicity, casting and development, and corporate financial operations. No entire teams will be eliminated, The Associated Press quoted official source as confirming on Tuesday.

    Last month Disney posted solid profits and revenue in the second quarter as its domestic theme parks thrived and the company added well over a million subscribers to its streaming service. The company also boosted its profit expectations for the year, according to the report.

    Disney has also been riding a wave of box office hits, including “Thunderbolts*” and “Lilo & Stitch,” which is now the second-highest grossing movie of the year with 280.1 million U.S. dollars in domestic ticket sales. 

    MIL OSI China News

  • MIL-OSI: Hong Kong and New Zealand, the easiest jurisdictions for doing business in APAC, says GBCI 2025

    Source: GlobeNewswire (MIL-OSI)

    LONDON, June 04, 2025 (GLOBE NEWSWIRE) — The Global Business Complexity Index (GBCI), recently launched by TMF Group, analyses the business environment of 79 jurisdictions, accounting for 94% of the world’s GDP. It also ranks them based on over 250 indicators of business complexity, with the jurisdiction ranked 1st as the most complex and the jurisdiction ranked 79th, the least.

    Among the world’s 10 least complex jurisdictions for doing business, Hong Kong, SAR remains the 4rth easiest jurisdiction for the second year in a row. The jurisdiction offers a favourable business environment, characterised by a straightforward and low tax regime that appeals to international businesses.

    New Zealand, also included in the 10 easiest jurisdictions worldwide, maintains its reputation as a straightforward place for business operations. This is largely due to the government’s proactive approach in welcoming foreign investments and streamlined administrative processes.

    Meanwhile, business complexity in India (18th) is mainly driven by recent regulatory changes, according to this year’s GBCI report. Over the past year, India has introduced numerous regulatory amendments aimed at boosting transparency and accountability. Although these are expected to bring benefits in the long term, they have added layers of complexity for businesses operating in the country, requiring constant adaptation to new compliance needs.

    Japan is ranked 43rd in this year’s GBCI, showing a decrease in complexity from last year’s position (38th). This decrease in complexity is partly due to recent simplifications and governmental initiatives to provide English-language support to international financial service companies. These measures facilitate easier operations and reduce barriers for foreign businesses, improving investment attractiveness.

    Singapore, ranking 48th, continues to demonstrate resilience and adaptability in its trade corridors. This jurisdiction invests heavily in technology and infrastructure upgrades, reinforcing its status as a regional hub.

    China’s Mainland (10th) enters the top 10 most complex jurisdictions for businesses in 2025. According to the report, the complexity is driven by its frequent regulatory changes and regional disparities. Despite these challenges, the government continues to offer incentives to attract investment and to promote infrastructure development to enhance trade logistics.

    TMF Group’s Head of APAC, Shagun Kumar, commented: “We’re seeing a growing effort by decision-makers and businesses across APAC to reduce unnecessary burdens for doing business in the region — these have in the past delayed development, leading to complex evaluations for investment. Such efforts contribute to unlocking the region’s drive towards economic growth, and we expect businesses to adapt and continue to leverage the potential of APAC as a key contributor for their global strategies.”

    Top and bottom ten (1= most complex, 79= least complex) 
    1. Greece  79. Cayman Islands 
    2. France  78. Denmark 
    3. Mexico  77. New Zealand 
    4. Turkey  76. Hong Kong, SAR 
    5. Colombia  75. Jersey 
    6. Brazil  74. Netherlands 
    7. Italy  73. Jamaica 
    8. Bolivia  72. British Virgin Islands 
    9. Kazakhstan  71. Curaçao 
    10. China’s Mainland  70. Czech Republic 
       

    Media Contacts
    Marina Llibre Martin
    marina.llibremartin@tmf-group.com

    The MIL Network

  • MIL-Evening Report: Just the ticket? The problem with local body candidates aligning with national political parties

    Source: The Conversation (Au and NZ) – By Julienne Molineaux, Senior Lecturer, School of Social Sciences and Humanities, Auckland University of Technology

    Getty Images

    With accusations flying thick and fast last year about supposed “dysfunction” and a “shambles” at Wellington City Council, Local Government Minister Simeon Brown stepped in and appointed a Crown Observer.

    Announcing the move, Brown said the “financial and behavioural challenges” facing the council represented a problem under the Local Government Act. Part of the issue, Prime Minister Christopher Luxon claimed recently, was that there had been “way too much ideology and party politics”.

    With the Green-endorsed current mayor Tory Whanau withdrawing from the next election, and former Labour cabinet minister Andrew Little announcing his mayoralty bid, it remains to be seen whether those partisan perceptions have diminished.

    But at the other end of the political spectrum, the ACT Party is actively recruiting candidates to stand at the 2025 elections using its branding and policy platform. The ACT website states clear policy positions for prospective candidates to campaign on.

    The Local Government Act, on the other hand, requires elected members to consult with people affected by their decisions and to do so with an open mind. Reinforcing this point, the Office of the Auditor-General says those managing public resources must avoid holding pre-determined positions:

    You are not required to approach every decision as though you have given it no prior thought, or have no existing knowledge or opinion. However, you are required to keep an open mind, and you must be prepared to change or adjust your views if the evidence or arguments warrant it.

    If ACT is successful in building a local government ticket nationally, this tension – and the kind of tensions recently at play in Wellington – could be seen in other councils.

    Benefits of party branding

    Political party affiliations in local government are not actually the norm. In 2019, winning councillors around New Zealand mostly left the affiliation section of their nomination forms blank (60%) or stated they were “independent” (18%).

    Only 3% of winning councillors were affiliated with a registered political party, and 4% with a local grouping or ticket.

    But the picture changes in our three largest councils: Auckland Council, Christchurch City Council and Wellington City Council. No winning councillors in those cities left the affiliation section blank in 2019, 38% ran on a local ticket, and 22% for a political party.

    And there are good reasons for local body candidates to run as party-endorsed or on a local ticket, as former local body politician Shirin Brown outlined in her PhD thesis on Local Boards in Auckland: shared costs, shared resources (such as party volunteers to deliver leaflets), shared expertise and brand recognition for voters.

    Importantly, a candidate with low name recognition can coat-tail on higher profile candidates on the same ticket, or the public profile of the ticket overall. Other research suggests the strategy works: in Auckland, at least, those who stand with a group affiliation are more likely to be elected than those who do not.

    In larger urban areas, with high populations and low levels of representation per capita, visible groupings of local government candidates make sense. Research reveals a major obstacle to voting in local elections is a lack of information about candidates and what they stand for.

    Blurred party lines

    Once elected, though, there are questions about the cohesion of groupings. Shirin Brown found the ad-hoc nature of some local tickets for Auckland’s local boards – formed for strategic election reasons but with little coherence or discipline once elected – sometimes collapsed once in office.

    In Auckland, ward councillors and the mayor have run with group branding, but there is little evidence of whipping along party, ticket or broad ideological lines.

    As a councillor for the Manukau ward (2016-2022), the late Efeso Collins stood for election as a Labour Party candidate, but he voted against some initiatives of the Mayor Phil Goff, a former leader of the Labour Party.

    Communities and Residents (C&R) councillors have mostly been aligned with the National Party, but have also included ACT and unaffiliated centre-right candidates.

    While they often voted against Goff, and earlier against Labour Party member Len Brown (mayor from 2010-2016), it wasn’t always as a uniform block. Indeed, Brown’s initiatives were simultaneously opposed by Cathy Casey (City Vision) on the left and Cameron Brewer (C&R) on the right.

    Keeping an open mind

    As this year’s local elections approach, the Crown Observer for Wellington City Council, Lindsay McKenzie, has written candidate guidelines about political affiliations and their legal obligations to avoid predetermined positions.

    These cover the promises they make on the campaign trail as well as how they act once elected. They address the tension between the democratic act of signalling your values and policy positions to voters, and the requirement under the Local Government Act to make decisions based on local concerns rather than political affiliation.

    As McKenzie points out, having an open mind is not just an issue for party members. It also applies to those who stand as independents and adhere rigidly to policy positions they campaigned on.

    Irrespective of their affiliation, candidates in the upcoming local elections have a tightrope to walk – between declaring their values and policy positions, and being receptive to new information and perspectives once elected.

    Voters need to accept elected members may have access to information that was not available when they were campaigning. And the political media needs to give some leeway to councillors and mayors who change their positions.

    Julienne Molineaux 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. Just the ticket? The problem with local body candidates aligning with national political parties – https://theconversation.com/just-the-ticket-the-problem-with-local-body-candidates-aligning-with-national-political-parties-257887

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI New Zealand: Government to protect and enhance Milford Sound Piopiotahi

    Source: New Zealand Government

    The Government will invest $15.2 million into upgrading infrastructure and enhancing conservation at Milford Sound Piopiotahi to sustainably grow tourism while also protecting the jewel in our conservation crown.

    The first tranche of decisions from the Milford Opportunities Project, announced today, also provide certainty to operators by confirming that cruise ships will continue to access the fjord, and Milford Aerodrome will be retained.

    “This iconic UNESCO World Heritage site in Fiordland attracts more than a million visitors a year and pumps about $200 million into the regional economy, creating jobs and boosting incomes,” Conservation Minister Tama Potaka says.

    “For Ngāi Tahu, Piopiotahi holds special significance as the final masterpiece of atua and land-shaper Tū Te Rakiwhānoa.

    “Visitors accessing the fjord via Milford Road will soon enjoy new and enhanced short stops, including an alpine nature walk in Gertrude Valley. Little Tahiti landfill will also be cleaned up and flood protection at Cleddau River will be improved.

    “There will be improved amenities, including much-needed new facilities at Deepwater Basin where we are replacing the recreational boat ramp.”

    Funding for the improvements will come from the International Visitor Levy ($8.2 million) and the Department of Conservation’s capital works programme ($7m).

    Tourism and Hospitality Minister Louise Upston said Milford Sound Piopiotahi had a key role to play in helping the country’s tourism sector bounce back from the Covid hangover.

    “We are supporting the local economy and providing certainty for operators by enabling cruise ships and aircraft to continue to access the fjord, rejecting a previous proposal to ban this.

    “We know Milford Sound Piopiotahi, Mitre Peak Rahotū, the bush, the sea and the wildlife play an integral part in capturing the hearts and minds of millions of tourists dreaming of a visit to this wilderness area.”

    Mr Potaka said the next tranche of work would involve the Department of Conservation – Te Papa Atawhai engaging with Ngāi Tahu, and stakeholders such as local government and the tourism industry on further initiatives.

    “These include collaborating on investment opportunities along Milford corridor, developing a multi-year investment plan for the area, and considering improved planning tools, such as a Special Amenities Area within Fiordland National Park.”

    Note for editor

    The Milford Opportunities Project feasibility business case, supporting reports and Cabinet paper are available on the Department of Conservation – Te Papa Atawhai website: https://www.doc.govt.nz/milford-opportunities

    MIL OSI New Zealand News

  • MIL-OSI USA: MENG HIGHLIGHTS DEVASTATING IMPACTS TRUMP SOCIAL SECURITY CUTS WOULD HAVE ON QUEENS

    Source: United States House of Representatives – Congresswoman Grace Meng (6th District of New York)

    Congresswoman holds listening session with local residents and borough organizations that stand to be affected by the President’s changes

    QUEENS, NY – Today, U.S. Rep. Grace Meng (D-Queens) held a listening session that focused on cuts to Social Security, and the devastating impacts it would have on Queens.

    Taking part in the event were several borough organizations and local residents who stand to be negatively affected by the President’s budget axe. With the President and Congressional Republicans slashing key federal programs, many in Queens – and throughout New York – worry about cuts to the Social Security program. Many are also concerned about receiving their Social Security benefits, specifically questioning the Social Security Administration’s ability to deliver payments in light of cuts to the Social Security workforce and the closing of Social Security offices.

    “Social Security is a financial lifeline for hundreds of thousands of people in Queens, and millions throughout New York,” said Meng. “Any cuts to the program or interruption in recipients receiving the benefits they earned and deserve would be devastating, and totally unacceptable. Social Security is not the government’s money. It is the people’s money, and fighting to protect this vital program will always be a top priority of mine. I stand with everybody in Queens and across New York who depend on their Social Security benefits.”

    Meng noted that many Social Security beneficiaries rely on their Social Security payments for crucial living expenses such as putting food on the table, paying their rent, heating their homes, covering medical expenses and other critical necessities.

    “We cannot overstate the importance of Social Security to Queens residents and the dire consequences of making it harder for beneficiaries to access their earned benefits,” Meng added. 

    The Congresswoman organized the listening session to hear directly from local groups and constituents. It was held at the Elmhurst – J.H. Senior Center in Elmhurst, Queens. Organizations and individuals that participated include:

    • The American Federation of Government Employees (AFGE) which represents Social Security Administration workers and other federal government employees.
    • Legal Services NYC which provides legal services for low-income New Yorkers.
    • Center for Independence of the Disabled, New York which provides advocacy, education and a variety of services for people with disabilities.
    • Queens Community House which provides services and programs for children, young adults, families and older adults.
    • Elmhurst – J.H. Senior Center which provides services to local seniors.
    • Frank Taylor, former Chair of Community Board 3 which encompasses Jackson Heights, North Corona and East Elmhurst.
    • Mr. Tamaine Hamilton, a constituent from Forest Hills who depends on Social Security and recently received $35,331 in back benefits with Meng’s assistance.

    In Queens, approximately 366,000 people receive Social Security benefits which consists of monthly payments to retirees, children, seniors, widows, spouses and disabled workers. This includes more than 126,000 recipients in Meng’s congressional district. Throughout New York, there are some 3.8 million Social Security beneficiaries and over 70 million across the U.S.

    Social Security was created in 1935 when President Franklin Roosevelt signed the Social Security Act into law. The program is primarily funded through payroll taxes and ensures income for retirees, disabled individuals and survivors including children and families. 

    MIL OSI USA News

  • MIL-OSI Canada: Adam Scott to the Canadian Telecom Summit

    Source: Government of Canada News

    Toronto, Ontario
    June 3, 2025

    Adam Scott, Vice-Chairperson, Telecommunications
    Canadian Radio-television and Telecommunications Commission (CRTC)

    Check against delivery

    Thank you for the invitation to speak today and for that warm welcome. Before I begin, I would like to acknowledge that we are on the traditional territory of many nations, including the Mississaugas of the Credit, the Anishnabeg, the Chippewa, the Haudenosaunee and the Wendat peoples. I thank them and pay respect to their Elders.

    I received the invitation to speak at this event the exact same day that I received my Long Service Award for 25 years in the public service. And I thought, “well this is too perfect, I’ll call my speech ‘Looking back on a quarter century of telecommunications policy.’” And I’ll weave together anecdotes from my 25-year career with key moments in telecommunications policy to write a nice little speech that perfectly aligns with the 25-year history of this conference. Then somebody told me it was, in fact, the 24th edition of the Telecom Summit.

    Things don’t always line up quite as perfectly as you had hoped. Nonetheless, I would still like to spend some time looking back on –not quite – a quarter century of telecom policy.

    I have spent my career thinking about Canadian telecommunications and developing public policies to support a competitive and innovative telecommunications industry. I was at the very first Telecom Summit as a junior analyst for what was then Industry Canada – which became Innovation, Science and Economic Development Canada. I was so junior, that I was probably the only person in the room without a Blackberry. Instead, I brought a pocket full of quarters so I could stay in touch with the head office in Ottawa via pay phone, if you can believe that.

    I hearken back to those early days of this conference and my time in government not to make myself feel old – though, believe me, I feel plenty old – but to make the point that the health of Canada’s telecommunications industry and the services it offers Canadians have been top of mind for the Canadian government for a very long time.

    Throughout that time, while the specific circumstances, approaches and tools have varied, the core areas of focus have remained fundamentally the same. In fact, I’ve been explaining telecom policy by drawing the same triangle diagram for 25 years with quality, coverage, and price at the corners.

    Its apt because a triangle is a remarkably stable structure, and one where each of the sides supports, and is supported by, the two others. So I will touch on each corner in turn, describing the work we are doing on each at the CRTC, and show how we are promoting competition and consumer empowerment as foundational blocks that hold up our policy triangle.    

    Ensuring quality services for Canadians

    Let’s start with quality. The CRTC is part of the larger federal government effort to ensure Canadians have high-quality and reliable telecommunications networks. And quality is perhaps where our job has historically been least difficult, as world-class networks have been a hallmark of Canadian telecommunications.

    In terms of the Internet today, this means ongoing investment in fibre, DOCSIS upgrades, next-generation fixed wireless, and investment in LEO satellites. And in terms of cellphones, this means the rollout of modern networks which already cover most of Canada’s urban areas and are quickly becoming available in more and more rural and remote areas as well.

    We are seeing that companies are continuing to make network investments to provide the telecommunications services that Canadians need.

    Hand-in-hand with ensuring that our regulatory regime supports ongoing investment in modern networks, we are also working to ensure our networks are reliable. As the world we live in gets more unpredictable and the impact of service outages on a digital economy more severe, this is more important than ever.

    So we are developing a robust strategy and regulatory framework to help reduce the occurrence of service outages and improve network resiliency and the reliability of services. Because Canadians need to be safe in the knowledge that in an emergency, they will be able to reach out for help.

    To that end, we have already issued an interim decision on outage notification requirements for providers. We also have upcoming consultations aimed at reducing outages, mitigating their impact, and ensuring consumers are treated fairly when they do occur.

    We are committed to ensuring all Canadians have access to reliable Internet and cellphone services.

    Providing coverage for rural, remote and Indigenous communities

    This leads into the second corner of our triangle: coverage. And specifically, the challenge of getting coverage in areas where market forces alone may not meet the need. 

    Meeting this challenge when it comes to Internet coverage has been the focus of the CRTC’s Broadband Fund. The Broadband Fund team works with partners across the industry, governments and municipalities to connect communities that have previously lacked adequate or sufficient access.

    And every day we are getting closer to ensuring all Canadians have it. In 2017, 84% of Canadians had access to Internet services at speeds that meet our 50/10 universal service objective, and the gap between urban and rural parts of our country was vast: just 37% of rural, remote and Indigenous households had access to Internet at target speeds versus 97% of urban homes.

    Eight years later, more than 95% of Canada, 78% of rural households, and around 60% of homes in the Territories and on Reserves have access to 50/10 Internet. And through an array of investments, innovations, and a whole-of-government effort, we are on track to meet our goal of 100% of the country by 2030. But in many ways, the job gets harder the closer we get to our target. There is little, if any, low-hanging fruit remaining. CRTC staff are likely getting sick of hearing me say that the last steps to the finish line are often the hardest.

    As hard as they might be, we are committed to getting there. The Broadband Fund has had three calls for applications at this point, and directed funding to help connect more than 270 communities. We are continuing to deliver funding from our third call.

    In the past year alone, we have committed support across seven provinces and territories, which will improve telecommunications services along approximately 100 kilometres of major roads and help build over 2,700 kilometres of transport fibre.

    These investments will make a profound impact in those communities by improving access to health care services and education, and creating new opportunities for local businesses. And while we are pleased with this progress, we know we can do better. So we launched a review of the Broadband Fund to find ways we can improve the allocation of funding.

    To date, we have announced a number of changes, including making it faster and easier to submit a funding application, cutting down on the time it takes for us to review applications, implementing new ways to help Indigenous applicants, and improving our mapping so we can better identify roads and communities that need more help.

    We are continuing to review other aspects of the Fund so it can help us close the coverage gaps that remain across the country.

    Delivering affordable service plans for Canadians

    As we work to ensure all Canadians have access to telecommunications services, and that Canadian networks are among the highest quality in the world, we also want to make sure everyone has access to affordable choices – the third corner of our triangle.

    We are addressing a common complaint: too often, Canadians feel like they pay more than they can afford for telecommunications services.

    The Government’s February 2023 policy direction instructed the Commission to renew our approach to telecommunications policy in Canada, and to consider how our decisions could promote competition, affordability, reliability, and consumer interests.

    In the two years since that direction, we have taken action promoting those goals in both the cellphone service and Internet service markets in Canada.

    In the cellphone market, our mobile virtual network operator (or MVNO) framework allows competitors to operate on the networks of Canada’s incumbent mobile carriers. Competitors are now offering Canadians service plans in regions of the country where they previously had no presence and the impact on prices is apparent.

    Through this framework, we are fostering greater competition across Canada and creating the conditions for more affordable choices. At the same time, we know that building and maintaining high-quality networks is expensive. So we are simultaneously providing incentives for companies to continue to make facilities-based investments. For example, competitors that take advantage of MVNO access must also build-out their own networks in the new areas they serve within seven years of the framework’s launch. And our ongoing monitoring of compliance with that requirement will ramp up the closer we get to the seven-year sunset for this access in 2030.

    We are similarly focused on seeing more affordable Internet service choices available to Canadians. This is an ongoing file, with several applications before us being considered. So far, for the first time, we have provided competitors with a workable way to sell Internet services using the fibre-to-the-home networks of large telephone companies. The data showed that our previous approach to wholesale fibre didn’t produce the results that we wanted and Canadians deserved, so we pivoted. And more than a dozen companies are already using the new high-speed access framework to increase their competitive footprints.

    Canadians are seeing increased competition in the high-speed Internet marketplace, and we hope that trend will continue. Here, too, it is important to add that we have put in place incentives for continued investment – wholesale rates will be cost-based, providing the network builder the opportunity to recover their investments. And for the first time ever, any new fibre-to-the-home access built by incumbent providers is exempt from competitor access until 2029, giving network builders a head-start on recovering their investments even before cost-based wholesale competition kicks in.

    We expect continued downward pressure on telecom prices as a result of the changes we have made. And indeed, we are encouraged that year-over-year prices for Internet and cellphone services are trending in the right direction. But despite what the numbers say, many Canadians are telling us that they aren’t seeing those savings.

    We are exploring a range of options to determine how we can ensure Canadians are benefitting from greater competition. I am thrilled that increased competition has led to more and better service offerings in the marketplace. But the job isn’t done until Canadians see improvements in the bills on their kitchen tables. This is another phrase that staff will become sick of hearing me repeat.

    In fact, next week we will be holding a public hearing as part of our consultation on making it easier for consumers to shop for Internet services. This includes better labelling for Internet service plans, potentially presented the same way we see nutritional information on cereal boxes at the grocery store. Consumers deserve to have the services on offer presented to them simply and clearly, and we want them to have easy-to-compare information on each plan. This will make it easier to shop, and also make it easier to see whether consumers are getting what they pay for.

    This is one of several consumer-centric consultations we have underway. We are also looking into establishing rules that would require service providers to notify customers when their current plans or discounts are about to expire; examining what fees service providers charge that may impede switching; and seeing what additional tools or portals consumers need to manage their plans with minimal hassle.

    We look forward to finding new and innovative ideas to ensure affordable choices are available to all Canadians.

    Conclusion

    And that, I think, is a good place for me to wrap up today. The CRTC is focused on how we can best set up Canadian communications networks to deliver reliable, affordable and high-quality Internet and cellphone services to all Canadians, from coast to coast to coast. Competition and consumer empowerment are going to be pivotal.

    It’s a goal which, as I stated at the beginning, has not changed since the beginning of my career and that first Telecom Summit almost a quarter century ago. And although the frameworks, assumptions and environment may have changed, the fundamental way in which we work has not. Because at the end of the day, the CRTC relies on all Canadians, and all of you here today, to do our work.

    CRTC decisions are made only after extensive public processes, including consultations, hearings, and outreach. There is ample opportunity for everyone to get involved and help shape our regulatory work. Please do not hesitate to reach out, have your voice heard, and help us to better understand your experience of Canada’s communications systems.

    Because we know that when we work together, we can reach positive solutions for everyone in Canadian telecommunications.

    Thank you.

    MIL OSI Canada News

  • MIL-OSI USA: Feenstra Supports Legislation to Combat SBA Loan Fraud

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

    WASHINGTON, D.C. – Today, U.S. Rep. Randy Feenstra (R-Hull) voted for, and the U.S. House of Representatives passed, the 7(a)Loan Agent Oversight Act, which would require the U.S. Small Business Administration to provide annual reports to Congress on loan agents, which serve as intermediaries, for the SBA 7(a) program.

    “Ensuring that our small businesses have access to reliable, affordable capital is important for economic growth and rural development in Iowa. The SBA’s flagship loan program – the 7(a) loan program – helps facilitate this investment by assisting job creators on Main Street with securing financing. However, a percentage of this program uses loan agents, which have a history of fraud, to disburse small business loans,” said Rep. Feenstra. “It’s why I voted for legislation to conduct vigorous oversight of this program so that small businesses get the financial resources that they need to grow, hire, and invest while protecting taxpayer dollars and combatting fraud. Under President Trump, we are eliminating waste, fraud, and abuse in the federal government, and this legislation will further that mission at the SBA.”

    ###

    MIL OSI USA News

  • MIL-OSI China: Dragon boat races spark rise in tourism spending during ancient Chinese festival

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

    Villagers compete during a dragon boat race at Xixi National Wetland Park in Hangzhou, east China’s Zhejiang Province, on May 31, 2025. [Photo/Xinhua]

    In the watery maze of Diejiao Village in Foshan, south China’s Guangdong Province, dragon boat teams race through S-curves, L-bends and tight C-turns with breathtaking precision. Spectators gasp and cheer as the 25-meter-long boats spin around corners at full speed, water spraying in their wake.

    A popular Cantonese saying captures the spirit of the event: “Ning ho bou laan, bat ho paa maan,” meaning, “It’s better to crash the boat than to paddle slowly.” It’s no surprise, then, that Chinese social media users have dubbed this tradition the “F1 on water,” with thrilling clips of races going viral across the country and beyond during the recent Dragon Boat Festival holiday.

    The festival falls on the fifth day of the fifth lunar month each year, and in 2009, it became the first Chinese holiday to be inscribed on UNESCO’s list of Intangible Cultural Heritage. People throughout China and all over the world celebrate the festival, which has a history stretching more than 2,000 years.

    Festivities vary from region to region but usually share several features: a memorial ceremony offering sacrifices to an ancient Chinese patriotic poet is combined with sporting events such as dragon boat races, zongzi (sticky rice dumplings) feasts, and folk entertainments such as opera performances.

    These rich traditions are increasingly influencing how people choose their travel destinations. Across China, more tourists are seeking out immersive cultural experiences, and the Dragon Boat Festival offers both vibrant celebrations and a focus on deep-rooted heritage.

    This year’s holiday — May 31 to June 2 — turned Foshan into a travel magnet, with its total tourist bookings up 167 percent year on year. Hotel reservations jumped 145 percent, and airline ticket sales rose 110 percent.

    “Chinese dragon boat racing has long gone global,” said Chen Xiaolin, a Chinese-Canadian and the leader of a dragon boat team from Victoria, Canada, that joined an international dragon boat competition in east China’s Suzhou city on May 31.

    Chen originally founded the team in Victoria to connect with the local Chinese community. But over time, more and more local residents joined. “That might be because residents in Victoria really enjoy water sports like kayaking and canoeing, which have similarities to dragon boat racing,” she said.

    Yvonne Christine Ann Sharpe, a 70-year-old team member, had eight years of canoeing experience before she tried her hand at dragon boat racing. Sharpe told Xinhua that canoeing allows paddlers to switch hands, making it a bit easier than dragon boat racing, which has a complex technique and requires full team synchronization to maintain balance and speed.

    “Hard connectivity, soft connectivity and economic ties lay the foundation for tourism, but cultural connectivity is key to sustaining its appeal,” said Tang Jinwen, an associate professor at the Management College of Guangdong Polytechnic Normal University. Tang noted that traditional festivals like the Dragon Boat Festival are becoming cultural events that connect China with the world.

    Traditional Chinese festival experiences are drawing growing numbers of international visitors to explore and connect with Chinese culture firsthand, particularly following the country’s rollout of its visa-free travel policies.

    According to data from the National Immigration Administration, 231,000 foreign nationals entered China during this year’s Dragon Boat Festival holiday under these new policies — a 59.4 percent increase compared to the same period last year.

    Hotel searches for inbound international tourism during the holiday more than doubled this year, according to data from online travel giant Trip.com. The top-10 source countries for related inbound travel were Malaysia, the Republic of Korea, Singapore, Thailand, the United States, Russia, Japan, Britain, Australia and France.

    Beijing, China’s capital city, welcomed 67,000 international tourists during the holiday, a year-on-year increase of 35.8 percent. These visitors spent a total of 720 million yuan (about 100 million U.S. dollars), which was 41.1 percent higher than the same period last year.

    China has been vigorously boosting its domestic consumption, notably in its culture and tourism sectors. Since the beginning of 2025, local governments have rolled out a variety of incentives, ranging from cultural vouchers to ticket discounts, aiming to unlock spending potential.

    These efforts intensified during the 2025 Dragon Boat Festival. In central China’s Hubei Province, more than 160 A-level scenic areas offered ticket discounts, pass bundles and family deals. Shandong Province distributed 50 million yuan in cultural tourism vouchers covering attractions, hotels and cultural products.

    As China’s economy reaches a certain level, a growing emphasis is being placed on exploring traditional culture and, in particular, how it is reflected in consumption, said Wang Qing, who works at a market economy institute under the Development Research Center of the State Council.

    Elements of traditional culture are likely to play increasingly important roles in shaping consumption in China, Wang said. 

    MIL OSI China News

  • MIL-OSI New Zealand: Release: Charter school failures clocking up

    Source: New Zealand Labour Party

    Public schools aren’t converting to charter schools at the rate David Seymour claimed they would.

    Due to low demand over the past year, $4 million was taken out of the money set aside for charter schools to be used on other things. Despite that, the Government is still funding ACT’s failing charter school model.

    “Charter schools are a waste of taxpayer’s money. They cost far more per student than state schools, have very little oversight and are based on ideology, not evidence,” Labour education spokesperson Willow-Jean Prime said.

    “It’s time David Seymour faced reality – ACT’s charter schools experiment is failing again. The Government’s own budget documents state that no state school converted in the last financial year.

    “When the funding was announced last year, he claimed there would be ‘15 new charter schools and the conversion of 35 state schools to charter schools in 2025 and 2026’. Now he’s back-tracking.

    “The Government is wasting money on David Seymour’s vanity project despite knowing it isn’t working. The cost per student is astronomical and there is no evidence it is worth it.

    “A student at a charter school costs the taxpayer around five times as much as a student who attends a state school, with nothing to show for it.

    “David Seymour is cutting funding for school lunches while wasting money on charter schools,” Willow-Jean Prime said.


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    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Release: Reserve Bank predicts more job losses

    Source: New Zealand Labour Party

    The Reserve Bank’s Monetary Policy Statement predicts a sluggish economy with higher inflation and more job losses.

    “Just days after Nicola Willis slashed women’s pay in order to deliver her so-called ‘Growth Budget’, growth is now predicted to slow,” Labour finance and economy spokesperson Barbara Edmonds said.

    “The Reserve Bank cited low growth, higher inflation in the short term, and higher unemployment as key reasons why they cut rates today. Rate cuts are good for mortgage-holders, but there are some real alarm bells in the RBNZ’s statement.

    “Specifically, it projected sluggish economic growth of less than 1% in 2025, and said that inflation will continue to rise in the short term.

    “Most concerning, the Reserve Bank warned about a weakening labour market, with unemployment remaining above 5% and expected to climb further this year. That contradicts National’s promises of thousands of new jobs in their Budget. Thanks to their choices, more than 15,000 construction jobs have been lost.

    “The Government claims to have delivered a ‘Growth Budget’ but the only growth we can see is growing unemployment, growing prices, and a growing pay gap between men and women.

    “Instead of helping people through tough times, the Government has chosen to cut jobs and take money from women’s future pay, all so they can give it to tobacco, fossil fuel, and big tech companies.

    “Labour would make different choices, investing in jobs, health, and homes to grow the economy and lift living standards for everyone,” Barbara Edmonds said.


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    MIL OSI New Zealand News

  • MIL-OSI: Plantro Ltd. Announces Completion of its Tender Offer for Shares of Information Services Corporation

    Source: GlobeNewswire (MIL-OSI)

    ST. HELIER, Jersey, June 03, 2025 (GLOBE NEWSWIRE) — Plantro Ltd. (“Plantro”) today announced the completion of its all-cash tender offer (the “Tender Offer”) to acquire class A limited voting shares (“Class A Shares”) in the capital of Information Services Corporation (TSX: ISC) (“ISC” or the “Company”) at a price of $30 per Class A Share.

    In connection with the completion of the Tender Offer, Plantro will take up and pay for Class A Shares that have been validly tendered and not withdrawn within three business days. Following the take up and payment for such Class A Shares, Plantro will own a total of 580,863 Class A Shares, representing approximately 3.13% of the Company’s issued and outstanding Class A Shares.

    Payment for the purchased Class A Shares will be effected by Odyssey Trust Company, the depositary for the Tender Offer, in accordance with the Tender Offer and applicable law. Shareholders of ISC who have validly deposited and not withdrawn their Class A Shares are not required to take any further action to accept the Tender Offer.

    Plantro is pleased to have provided participating ISC shareholders an opportunity to receive liquidity and certainty of value for their Class A Shares. Plantro intends to remain an engaged shareholder, hold the ISC board of directors to account, and to continue to take actions to unlock value for the benefit of all shareholders.

    About Plantro
    Plantro is a privately held company, with an established track record of making successful investments in undervalued and high quality legal, financial, and information services businesses.

    Shareholder Questions
    Shareholders of ISC who have questions with respect to the completed Tender Offer, please contact the depositary or the information agent for the Tender Offer at the contact details below:

    Depositary: Odyssey Trust Company
    Toll Free (US & Canada): 1-888-290-1175
    Calls (All Regions): 587-885-0960
    Email: corp.actions@odysseytrust.com

    Information Agent: Carson Proxy
    North America Toll Free: 1-800-530-5189
    Local and Text: 416-751-2066
    Email: info@carsonproxy.com

    Cautionary Statement Regarding Forward-Looking Information

    This press release may contain forward-looking information within the meaning of applicable securities laws, which reflects Plantro’s current expectations regarding future events. Specifically, certain statements contained in this press release, including without limitation statements regarding the Tender Offer, and taking up and paying for Class A Shares deposited under the Tender Offer, contain “forward-looking information” and are prospective in nature. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements.

    Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent Plantro’s current beliefs, expectations, estimates and projections regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Plantro’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Plantro does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

    Media Contact: Gagnier Communications
    Riyaz Lalani / Dan Gagnier
    Email: Plantro@gagnierfc.com

    The MIL Network

  • MIL-OSI United Kingdom: Kickstarting economic transformation

    Source: Scottish Government

    £24 million to realise Kishorn Port potential.

    A multi-million pound investment is being made in one of Scotland’s most strategically important ports.

    Highlands and Islands Enterprise (HIE) will invest up to £24 million at Kishorn Port in the west Highlands to enhance its capacity and capabilities, with an expanded dry dock and land reclamation enabling the manufacture of floating offshore wind foundations.

    The expanded facilities are forecast to attract projects with the potential to support up to 1,500 jobs once the port is fully developed.

    The investment forms part a Scottish Government commitment of up to £500 million over five years to develop the country’s ports and offshore wind supply chain. The funding will help ensure businesses and communities secure maximum benefit from the country’s growing renewables capabilities.

    As a strategic location for offshore wind components marshalling and manufacturing, Kishorn Port will play a crucial role in supporting current offshore wind developments and is well positioned to capitalise on future opportunities extending beyond Scotland.

    The port houses one of the largest openings of any dry dock facility in Europe, making it a unique and valuable asset.

    Announcing the award ahead of making an investment-focused speech today at Panmure House in Edinburgh, Deputy First Minister Kate Forbes said:

    “This is one of the most significant public investments in our port infrastructure in decades. It is crucial to ensuring Kishorn Port and the communities it supports can reap the benefits of the global renewables market.

    “It is a clear signal from the Scottish Government and Highlands and Islands Enterprise that will give investors the confidence to invest millions more in the area’s wider infrastructure, economy and people.”

    HIE chief executive Stuart Black said:

    “Offshore wind presents a massive opportunity for the Highlands and Islands and Kishorn is one of several ports that are at the heart of this. The facility has provided skilled jobs in a rural area for many decades and this is likely to grow significantly, which is vital to community resilience in a priority west coast location.

    “The proposed dry dock expansion and land reclamation will greatly enhance the port’s capacity to support offshore wind and the contribution it makes to Scotland’s economy. I’m delighted that we’ve been able to secure this significant additional funding for the region and look forward to continuing to work with Kishorn Port Ltd as the project develops.”

    Kishorn Port Limited (KPL) Directors Alasdair Ferguson said:

    “This is a significant milestone in the continuing development of Kishorn Port. The port expansion will provide the catalyst for the support and creation of jobs within Wester Ross and the wider Highlands, benefiting communities across the area. We’re grateful to Highlands and Islands Enterprise and Scottish Government for their support. 

    “With the quarry on site, Kishorn Port is ideally suited to concrete manufacturing of floating offshore wind sub-structures, with local content, laydown, marshalling, and long-term integration and assembly possible at the port as part of the wider project in the long-term.”

    Background

    Other investments made as part of the Scottish Government’s commitment of up to £500 million include:

    MIL OSI United Kingdom

  • MIL-OSI Global: Ukraine’s drone attacks on Russian airfields could derail Russia’s war efforts

    Source: The Conversation – Canada – By James Horncastle, Assistant Professor and Edward and Emily McWhinney Professor in International Relations, Simon Fraser University

    The drone attacks by Ukrainian Operation Spider’s Web forces on Russian airfields have called into question Russia’s supposed military strength.

    Russian authorities have acknowledged damage from the June 1 attacks — an unusual admission that suggests the strikes were probably effective, given Russia’s usual pattern of downplaying or denying the success of Ukrainian operations.

    The operation’s most significant target was the Belaya air base, north of Mongolia. Belaya, like the other bases targeted, is a critical component in the Russian Air Force’s strategic strike capabilities because it houses planes capable of long-range nuclear and conventional strikes.

    It’s also in Irkutsk, approximately 4,500 kilometres from the front lines in Ukraine.




    Read more:
    Ukraine drone strikes on Russian airbase reveal any country is vulnerable to the same kind of attack


    Ukraine’s ability to successfully strike Belaya — an attempted strike at the even more distant Ukrainka air base failed — probably won’t have much of a military impact on the war. But along with successful attacks on other Russian airfields and the strike at the Kerch Bridge in Crimea, Operation Spider Web’s successes could play a strategic role in the conflict.

    These attacks could shift what has become increasingly negative media coverage and public perception about Ukraine’s chances in the war over the last year. In a war of attrition, which the conflict in Ukraine has become, establishing a belief in victory is a pre-condition for success.

    Explosions hit the Kerch Bridge in Russia on June 3, 2025. (The Independent)

    Increased pessimism

    Policymakers and pundits, instead of recognizing their expectations of a Ukrainian victory in 2023 were unrealistic, have often declared that the war is unwinnable for Ukraine.

    This perspective was even more prevalent following United States President Donald Trump’s resumption of power in January 2025. In the Oval Office spat Trump had with Ukrainian President Volodymyr Zelenskyy in late February, he declared Ukraine did not “have the cards” to defeat Russia.

    This turned out to be false. Ukraine’s army may possess significantly less military hardware and fewer soldiers than Russia’s, but war is often a continuation of politics. Politically, Russia faces several issues that could derail its war efforts.

    Russian vulnerabilities

    Russia’s military capabilities are important to Russian nationalists, who make up Russian leader Vladimir Putin’s core constituency. Russian military forces have advanced along nearly all fronts in Ukraine over the last year.

    These advances, however, have largely been insignificant. Furthermore, they have emphasized Russia’s military weakness, which is an ongoing affront to Russian nationalists.

    Not only have Russian military advances over the last year not changed the war in a strictly military sense, but the pace of advance has been incredibly slow. Over the last year, Russian forces have captured 5,107 square kilometres of Ukrainian territory. This territory represents less than one per cent of Ukraine’s pre-war territory.

    In exchange for what amounts to negligible gains, Russian armed forces have suffered significant casualties.

    Both Russia and Ukraine carefully guard the number of casualties their forces have suffered in the war. The British Ministry of Defence, however, estimates that Russia will have suffered more than a million casualties in the war by the end of this month. The Russian casualty rate is also accelerating, with an estimated 160,000 casualties in the first four months of 2025.

    Russia attempts to compensate for this battlefield devastation in two ways.

    First, it’s isolated Ukraine by manipulating Trump’s desire for political wins and business deals. Russia, in appearing to seek an end to the conflict while offering no concessions, has stoked tensions between Zelenskyy and Trump, where there was little love lost between the two to begin with.

    Second, Russia has increased its attacks on Ukrainian civilian infrastructure. Large-scale bombing does little to help Russia on the battlefield. The attacks, in fact, put its forces at a disadvantage by redirecting munitions from military targets.

    Attacks on civilians

    The attacks on civilian infrastructure, however, are more about instilling fear in the Ukrainian population and demonstrating American impotence to a Russian audience.

    Russia’s attacks on Ukrainian cities also highlight Russia’s trump card: nuclear weapons. Russia, and specifically former Russian president Dimitry Medvedev, has repeatedly threatened nuclear war in an attempt to dissuade Ukraine’s supporters.

    By bombing Ukrainian cities, albeit with conventional munitions, Russia seeks to demonstrate its ability to deploy even more destructive weapons should the situation call for it.

    These Russian military missteps, combined with a Russian economy that is structurally unsound, means that Russia’s war effort is increasingly fragile.

    Weakening Asian alliances

    Ukraine’s attack on Belaya also signals Russian weakness to its nominal allies in Asia.

    Since the start of hostilities, Russia has relied on the tacit consent of China. This support has taken the form of China purchasing Russian crude oil to maintain the Russian economy and Chinese citizens unofficially fighting for Russia.

    Belaya has been a vital element of Russia’s deterrence strategy in Asia, which has come to rely more heavily on the Russian strategic nuclear threat. The inability of Russia to protect one of its key strategic assets from a Ukrainian drone attack, combined with the weakness of Russian conventional forces in Ukraine, erodes its ability to position itself as a key ally to China.

    In fact, some Russian authorities continue to view China as a major threat.

    At the same time, Operation Spider’s Web gives hope to the Ukrainian people. It may also cause Trump — who prefers to back winners — to ponder whether it’s Putin, not Zelenskyy, who lacks the cards to win the war.

    James Horncastle 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. Ukraine’s drone attacks on Russian airfields could derail Russia’s war efforts – https://theconversation.com/ukraines-drone-attacks-on-russian-airfields-could-derail-russias-war-efforts-258049

    MIL OSI – Global Reports

  • MIL-OSI USA: Public Servants Sentenced for COVID-19 Relief Fraud

    Source: United States Small Business Administration

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


    Angelo Stephen, 33, a former Federal Bureau of Prisons Correctional Officer, and George Arestuche, 47, a former Miami-Dade County Aviation Department employee, were sentenced in separate cases after pleading guilty to defrauding COVID-19 relief programs.

    Angelo Stephen

    On May 22, Stephen was sentenced to four months in prison to be followed by three years of supervised release and ordered to pay $75,513 in restitution by Chief U.S. District Judge Cecilia M. Altonaga. Chief Judge Altonaga also entered a forfeiture money judgment against Stephen in the additional amount of $71,166. The sentence follows Stephen’s conviction for wire fraud in connection with his fraudulent applications for two Paycheck Protection Program (PPP) loans and one Economic Injury Disaster Loan (EIDL), as well as his participation in two bank account takeover schemes.

    During his change of plea hearing, Stephen admitted that on August 4, 2020, he submitted a false and fraudulent EIDL application in his own name to the Small Business Administration (SBA), claiming to be an independent contractor and the sole owner of a business that provided event planning and entertainment services with 10 employees.  The EIDL application falsely certified that for the applicable 12-month period, the business had approximately $62,018 in gross revenue and a cost of goods sold of $0. Based on his false and fraudulent application, Stephen received $20,000 in EIDL proceeds from the SBA.

    Stephen additionally admitted to fraudulently obtaining two PPP loans. On April 24, 2021, Stephen submitted a first-draw PPP loan application, claiming to be the sole proprietor of a non-existent business with $106,554 in gross income in 2020. In support of the application, Stephen submitted a fraudulent IRS Form 1040 Schedule C. Based on his false and fraudulent application, Stephen received $20,833 in PPP loan proceeds from an SBA-approved lender.  On May 11, 2021, Stephen submitted a second-draw PPP loan application, making the same false claims about his nonexistent business that was supported by submission of the identical false Schedule C. Based on his false and fraudulent application, Stephen obtained $20,833 in PPP loan proceeds from a different SBA-approved lender.

    Stephen also admitted to taking part in two bank account takeover schemes. On March 30, 2023, Stephen received a $20,000 wire transfer from the account of an unsuspecting victim in Virginia. Stephen quickly withdrew all illegally obtained money through a series of cash withdrawals and Zelle transfers to others. In the second takeover scheme, Stephen and his accomplices obtained new checks from the credit union account of a different unsuspecting victim. Stephen subsequently used one of those checks to obtain $8,500 in cash that he was not entitled to.

    George Arestuche

    On May 28, Arestuche was sentenced by Senior U.S. District Judge Paul C. Huck to five years of probation to include 210 days in home detention and ordered to pay $114,679 in restitution, plus community service. The sentence follows Arestuche’s conviction for conspiracy to commit wire fraud in connection with his fraudulent application for an EIDL.

    According to the facts admitted at the change of plea hearing, Arestuche and a co-conspirator devised a scheme to defraud the SBA by submitting a false and fraudulent application for Arestuche to obtain an EIDL and EIDL advance. As part of the conspiracy, Arestuche agreed to pay the co-conspirator a large fee.

    On July 9, 2020, Arestuche’s co-conspirator submitted a false and fraudulent EIDL application to the SBA on behalf of Arestuche, claiming that Arestuche was an independent contractor and the sole owner of an automotive repair business with 10 employees. The EIDL application falsely certified that for the applicable 12-month period, the business had $600,000 in gross revenue and a cost of goods sold of $184,000. In reality, Arestuche was not an independent contractor and did not own any type of business.  The EIDL application was supported by a fraudulent IRS Form 1040 Schedule C. As a result of this false and fraudulent EIDL application, Arestuche obtained $149,900 in EIDL proceeds and a $10,000 EIDL advance from the SBA. Arestuche subsequently paid his co-conspirator $17,275 for helping him fraudulently obtain the money from the SBA. Since pleading guilty, Arestuche has paid $50,000 in advance restitution payments.

    U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida; acting Special Agent in Charge Amber Howell of the Department of Justice Office of Inspector General’s Fraud Detection Office (DOJ-OIG); Special Agent in Charge Amaleka McCall-Brathwaite, U.S. Small Business Administration Office of Inspector General (SBA OIG), Eastern Region; acting Special Agent in Charge Brett D. Skiles of FBI Miami; and Inspector General Felix Jimenez of the Miami-Dade County Office of Inspector General (MDC-OIG) made the announcement.

    DOJ-OIG and SBA-OIG investigated the Stephen case. SBA-OIG and the FBI’s Miami Area Corruption Task Force, which includes task force officers from the MDC-OIG, investigated the Arestuche case.

    Assistant U.S. Attorney Edward N. Stamm prosecuted both cases.

    Assistant U.S. Attorney Annika Miranda is handling forfeiture matters in the Stephen case.

    In March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted. It was designed to provide emergency financial assistance to the millions of Americans suffering the economic effects caused by the COVID-19 pandemic. Among other sources of relief, the CARES Act authorized and provided funding to the SBA to provide EIDLs to eligible small businesses, including sole proprietorships and independent contractors, experiencing substantial financial disruptions due to the COVID-19 pandemic to allow them to meet financial obligations and operating expenses that could otherwise have been met had the disaster not occurred.  EIDL applications were submitted directly to the SBA via the SBA’s on-line application website, and the applications were processed and the loans funded for qualifying applicants directly by the SBA.

    On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the Department’s response to the pandemic, please visit https://www.justice.gov/coronavirus.

    On September 15, 2022, the Attorney General selected the Southern District of Florida’s U.S. Attorney’s Office to head one of three national COVID-19 Fraud Strike Force Teams. The Department of Justice established the Strike Force to enhance existing efforts to combat and prevent COVID-19 related financial fraud. For more information on the department’s response to the pandemic, please click here.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov, under case numbers 25-cr-20014 (Stephen) and 25-cr-20001 (Arestuche).

    MIL OSI USA News

  • MIL-OSI USA: Reed Smacks Down Trump’s Efforts to Cut Education Funding by Over 15 Percent

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed
    WATCH: During key Appropriations Subcommittee hearing, Sen. Reed takes on Trump’s Education Secretary Linda McMahon, bluntly stating: “You are shrinking educational opportunity in the United States for a whole generation and also shrinking our ability to compete internationally and globally.”
    WASHINGTON, DC – A strong public education system is vital to the success of children, families, communities, and our country.
    That is why U.S. Senator Jack Reed (D-RI) opposed the nomination of U.S. Secretary of Education Linda McMahon, a professional wrestling magnate with no meaningful education policy experience, who was tapped by President Donald Trump to dismantle the U.S. Department of Education and slash funding for public education. 
    Today, during a hearing of the Appropriations Subcommittee on Labor, Health and Human Services, Education and Related Agencies to review the President’s FY2026 Budget Request for the U.S. Department of Education, Senator Reed took Secretary McMahon to task over the Trump Administration’s efforts to slash funding for public education and shift federal education responsibilities to states.
    “From banning books to bullying colleges to cancelling grants and slashing money for K-12 and financial aid, the Trump Administration gets an F when it comes to supporting education.  Donald Trump is the first American president to declare war on education and weaponize major civil rights laws to undermine equal opportunity.  We must fight back to protect public schools and ensure every student – regardless of zip code – has the opportunity to learn, grow, and reach their full potential.  Trump’s budget would shortchange today’s students to pay for a bigger tax windfall for the wealthy.  Congress must oppose this budget and pass a strong education funding bill that prioritizes students, supports teachers, and strengthens communities because our economy and our future depends on it,” said Reed. 
    The Trump Administration is recommending a total of $66.7 billion for all U.S. Department of Education activities, down from $79.6 billion that was allocated last year, which would be a nearly $12 billion cut to education, or about 15 percent less than its current funding level.
    The Trump Administration proposes cutting about $6 billion from programs for K-12 schools, with another $4.3 billion in cuts proposed for higher education, according to the Committee for Education Funding, a nonprofit coalition of education advocates.  It also eliminates funding to support English language learners, grants for education research, and preparation programs for teachers and school leaders.
    At the K-12 level, Trump’s proposed cuts would gut evidence-based reading instruction, professional development for educators, supports for English-language learners as well as music, art, STEM, afterschool, and summer learning programs.  It would completely eliminate adult education, cutting off the pathway for millions of working adults who need to improve their literacy skills or earn a high school credential.
    The Trump budget also takes aim at rewriting special education law and targets programs that offer preschool opportunities for students with disabilities; information centers that help parents navigate special education law and policy; and technology tools that support instruction for students with disabilities and learning challenges.
    Federal funds constitute approximately 14 percent of public school budgets nationwide.
    During the hearing, Reed took aim at the Trump Administration’s destructive, partisan budget which could be used to weaponize the U.S. Department of Education against states.  Reed told McMahon directly: “You are shrinking educational opportunity in the United States for a whole generation and also shrinking our ability to compete internationally and globally.”
    When it comes to higher education, Trump aims to lower the maximum Pell Grant by $1,685 for the 2026–27 academic year and takes aim at Federal Work-Study, which provides part-time jobs to students who need help paying for college. Under the program, the federal government covers up to 75 percent of students’ wages.  Trump’s proposal calls for a $980 million reduction in Work-Study funding for the program, which was appropriated $1.23 billion in fiscal year 2024.  Trump is also trying to eliminate TRIO, which helps students in middle school through college navigate academic and financial barriers; GEAR UP, which helps low-income students prepare for postsecondary education; and the Supplemental Educational Opportunity Grants, which assists undergraduate students who have “exceptional financial need.” The program was allocated $910 million in fiscal 2024 — all of which would be eliminated under Trump’s budget.
    During the hearing, Reed and McMahon had the following exchange about how educations cuts would negatively impact the country:
    Sen. Reed: Well, it is a significant cut. And …
    Sec. McMahon: To be more responsible.
    Sen. Reed: To be more responsible? Your responsibility amounts to just surrendering.
    Sec. McMahon: Sorry, sir?
    Sen. Reed: Surrendering. We have this crisis of education and literacy, all of these factors. What we will do is pull back and let the states do it.
    Sec. McMahon: No, we will spend it more responsibly.
    Sen. Reed: I doubt it seriously.
    Sec. McMahon: Let’s hope we do.
    Sen. Reed: Well, ‘Hope,’ as someone said, is not a plan.

    MIL OSI USA News