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Category: Economy

  • MIL-OSI USA: CBO’s Panel of Health Advisers, 2025

    Source: US Congressional Budget Office

    The Congressional Budget Office’s Panel of Health Advisers consists of widely recognized experts in health policy and the health care sector. Members of the panel have a variety of backgrounds, areas of expertise, and experience. CBO hosts an annual meeting of the panel so that its members can discuss important issues in their areas of expertise and advise the agency on its analysis. In addition, CBO engages with members of the panel throughout the year. The agency may, for example, call on them for advice about how to address analytical questions that arise in the preparation of studies and cost estimates. Through that engagement, CBO and its analysis benefit from the advisers’ understanding of cutting-edge research and the latest real-world developments in health care delivery and financing. Although the advisers provide considerable assistance, they bear no responsibility for CBO’s work; that responsibility rests solely with the agency.

    Today, I would like to announce the members of the Panel of Health Advisers for the coming year:

    • Katherine Baicker
    • Michael Chernew
    • Jeffrey Clemens
    • Heather Dlugolenski
    • Marisa Domino
    • Erin Fraher
    • Craig Garthwaite
    • Darrell Gaskin
    • John Haupert
    • Anne Karl
    • Lisa Lee
    • Thomas Lee
    • Patricia MacTaggart
    • David Meltzer
    • Sergio Santiviago
    • Kosali Simon
    • Neeraj Sood
    • Cori Uccello
    • Melanie Whittington

    Members of CBO’s Panel of Health Advisers are selected to represent a variety of perspectives, enabling the agency to gather information and insights from experts with diverse views and from their interactions at periodic panel meetings. The panelists’ affiliations are shown on CBO’s website. CBO requires panelists to disclose to the agency any substantial political activity in which they may be involved and any significant financial interests that they may have.

    CBO also has a Panel of Economic Advisers.

    Phillip L. Swagel is CBO’s Director.

    MIL OSI USA News –

    May 30, 2025
  • MIL-OSI USA: CBO’s Panel of Economic Advisers, 2025

    Source: US Congressional Budget Office

    The Congressional Budget Office relies on many outside experts. For example, the agency works with its Panel of Economic Advisers to learn about important analytical issues in the advisers’ areas of expertise and to obtain feedback about the agency’s economic forecast. In addition, from time to time during the year, CBO calls on members of the panel for advice about how to address analytical questions that arise when preparing studies and cost estimates. Although such experts provide considerable assistance, CBO is solely responsible for the accuracy of its work.

    Members of the panel generally serve two-year terms and can be reappointed. Today, I would like to announce the current members of the Panel of Economic Advisers:

    • Alan Auerbach
    • Markus Brunnermeier
    • Seth Carpenter
    • Kathryn Dominguez
    • Karen Dynan
    • Robert Hall
    • Glenn Hubbard
    • Donald Kohn
    • Gregory Mankiw
    • Giuseppe Moscarini
    • Emi Nakamura
    • Jonathan Parker
    • James Poterba
    • Valerie Ramey
    • Joshua Rauh
    • Brian Sack
    • Ayșegül Șahin
    • James Stock
    • Kevin Warsh
    • Mark Zandi

    Members of CBO’s Panel of Economic Advisers are selected to represent a variety of perspectives, enabling the agency to gather information and insights from experts with diverse views and from their interactions at periodic panel meetings. The panelists’ affiliations are shown on CBO’s website. CBO requires panelists to disclose to the agency any substantial political activity in which they may be involved and any significant financial interests that they may have.

    CBO also has a Panel of Health Advisers.

    Phillip L. Swagel is CBO’s Director.

    MIL OSI USA News –

    May 30, 2025
  • MIL-OSI USA: Kugler, Opening Remarks

    Source: US State of New York Federal Reserve

    Thank you, Olesya, and thank you for the invitation to speak to you today. It is such a pleasure to contribute to this conference.
    Our profession has increasingly recognized, especially after the Global Financial Crisis, that research in the interdisciplinary topics between macroeconomics and finance is indispensable both for monetary policy and for promoting financial stability. As a researcher myself, and having spent many years in academia, I place great value on the social contribution of research and its potential to improve policymaking.
    I want to express my appreciation for your efforts in using macro-financial data and theoretical models to enlighten us on several critical issues. For instance, let me cite a few topics of the conference that shed light on important issues:

    The work on the transmission of monetary policy to both households and firms provides insights into how policy decisions ripple through the economy, a topic I recently addressed in a speech at the University of Minnesota. In this speech, I discussed my approach to monitoring monetary policy transmission and highlighted some of its key elements, such as the long and variable lags associated with policy effects.
    The exploration of the neutral rate of interest—that which neither slows nor stimulates economic activity—provides another angle to this important concept. This is a topic I have addressed in previous remarks, and I am especially interested in the potential factors that can affect the neutral rate.
    The work on how and why financial conditions faced by firms and households change with data releases and underlying macroeconomic conditions also enhances our grasp of the complex interplay between economic indicators and real-world financial experiences.
    The research on the functioning of the Treasury securities market and how it is affected by regulatory constraints sheds light on a crucial aspect of our financial system.

    I commend you for pushing ahead with a research agenda that furthers our understanding of topics so relevant to our monetary policymaking.
    In the spirit of stimulating your research appetite, I’d like to mention some topics that have captured my attention recently. These represent emerging challenges and opportunities in the field, and I believe they warrant further investigation.
    First, recently, I have been paying attention to the possible interaction between the financial vulnerabilities of firms and their exposure to trade. As global economic tensions rise and supply chains evolve, understanding how a company’s financial health intersects with its international trade exposure becomes increasingly crucial. This research could provide valuable insights for both policymakers and business leaders navigating an uncertain global economic landscape.
    Second, lately, I have been monitoring the financial stability implications of the potential lower desirability of U.S. financial assets in flight-to-safety events. Traditionally, U.S. assets have been seen as a safe haven during times of global economic uncertainty. One notable example of this was during the Global Financial Crisis. However, we recently saw instances in which the VIX went up, stock prices went down, long-term yields from U.S. Treasury securities went up, and the U.S. dollar depreciated against the currencies of advanced foreign economies (AFEs), with a notable role for the euro. Importantly, the historical relationships and the observed moves in the VIX and interest rates of AFEs would have been associated with a decrease in long-term yields from U.S. Treasury securities and an appreciation of the dollar. As the global economic landscape shifts, it is crucial to examine how possible changes in the role of U.S. financial assets as a safe haven might affect financial stability both domestically and internationally.
    Lastly, I have been keenly interested, for some time now, in how stresses in the commercial real estate (CRE) sector could potentially spill over to the rest of the U.S. economy. The CRE sector continues to face challenges from low vacancy rates and valuation losses, especially in urban centers for the office sector. Another challenge is that some banks, insurers, and securitization vehicles continued to have concentrated exposures to CRE. As we have seen in past crises, such as the Global Financial Crisis, vulnerabilities in specific sectors can have far-reaching consequences for the financial system. Understanding potential vulnerabilities and potential domino effects are vital for maintaining overall economic stability and crafting preemptive policies.
    These, I believe, represent some of the most pressing questions facing our field today. They offer rich opportunities for groundbreaking research that could significantly influence future policy decisions.
    In conclusion, I want to reiterate my gratitude for the vital work you are all doing. Your research not only advances our understanding, but it also provides a solid foundation for informed policymaking. As we navigate the complex interplay of macroeconomics and finance in an ever-changing global landscape, the importance of your work cannot be overstated.
    I encourage you to continue pushing the boundaries of our knowledge, to ask the difficult questions, and to pursue the answers with rigor and dedication. Your efforts today will shape the policies of tomorrow, influencing the economic well-being of millions.
    Thank you for your attention, and I look forward to the insightful discussions and presentations that will unfold during this conference.

    MIL OSI USA News –

    May 30, 2025
  • MIL-OSI USA: ICE Los Angeles, multiagency taskforce case results in 14 arrests on complaints alleging more than $25 million in COVID-19 relief, small business loans fraudulently obtained

    Source: US Immigration and Customs Enforcement

    LOS ANGELES — Fourteen defendants — including San Fernando Valley and Glendale residents — were arrested May 28, on two federal criminal complaints alleging they fraudulently obtained more than $25 million in taxpayer-funded COVID-19 relief funds and federally-guaranteed small business loans.

    This case is being investigated by U.S. Immigration and Customs Enforcement, the Department of Homeland Security’s Office of Inspector General and El Camino Real Financial Crimes Task Force, a multiagency task force that includes federal and state investigators who are focused on financial crimes in Southern California.

    “This transnational criminal network sought to defraud the government of millions of dollars and almost succeeded,” said ICE Homeland Security Investigations Los Angeles acting Special Agent in Charge John Pasciucco. “Through the diligent work of the El Camino Real Financial Crimes Task Force and our federal partners, ICE HSI is continuing to identify these criminal groups looking to profit from the pandemic and will use all available resources to hold them accountable, to include removing them from the country when applicable.”

    The 18 total defendants named in the complaints — four defendants are believed to be in Armenia — are charged with conspiracy to defraud the government with respect to claims; false, fictitious, or fraudulent claims; wire fraud and attempted wire fraud; bank fraud and attempted bank fraud; money laundering conspiracy; laundering of monetary instruments; engaging in monetary transactions in property derived from specified unlawful activity; and/or structuring financial transactions to evade reporting requirements.

    The defendants arrested May 28 include:

    • Vahe Margaryan, aka “William McGrayan,” 42, of Tujunga, who allegedly orchestrated a scheme to defraud numerous banks and the Small Business Administration’s Preferred Lender Program, a program designed to help small businesses that otherwise might not obtain financing. McGrayan allegedly directed owners of sham corporations to open bank accounts, make false statements, and concoct documents, including phony resumes and financial statements, to support loan applications to buy other sham corporations. McGrayan allegedly paid for phony tax returns that falsely reported millions in revenue and tens of thousands in tax due and owing. McGrayan, whose alleged criminal activity lasted from 2018 until January 2025, then directed the laundering of millions in fraud proceeds through various bank accounts.
    • Sarkis Gareginovich Sarkisyan, 37, aka “Samuel Shaw,” of Glendale, who allegedly, among other offenses, submitted a false application and bogus documents to obtain a loan under the Paycheck Protection Program which provided low-interest, forgivable loans to help small businesses retain their workforce and cover expenses. Sarkisyan allegedly applied in April 2021 on behalf of a fake business that received more than $700,000 in PPP funds.
    • Mery Babayan, 32, aka “Mery Diamondz,” of Van Nuys, together with co-defendants Margaryan and Hovannes Hovannisyan, 48, aka “John Harvard,” of Panorama City, in May 2021 allegedly defrauded a bank by representing the nonexistent sale of a sham business to another sham company to obtain an approximately $3 million federally guaranteed loan through the SBA’s Preferred Lending Program.
    • Felix Parker, 77, of North Hollywood, who in January 2023 allegedly made false statements and submitted fraudulent documents, including fake tax returns that falsely reported that his shell company, Canmar Promo, earned millions of dollars annually and owed tens of thousands in federal income taxes. Parker allegedly obtained more than $2 million in government-guaranteed funds earmarked to help small businesses.
    • Axsel Markaryan, 47, aka “Axel Mark,” of Pacoima, who in June 2023 allegedly fraudulently obtained more than $5 million in SBA loans via the submission of false statements and the submission of fake documents, including bogus tax returns. After the loans were obtained, Markaryan and his co-schemers in November 2023 laundered the money, including sending at least $100,000 to a co-schemer in Armenia.

    Law enforcement seized approximately $20,000 in cash, two money-counting machines, paper cash bands or currency straps in denominations of $2,000 and $10,000, multiple cell phones, multiple laptops, two loaded semi-automatic 9mm handguns, and boxes of 9mm ammunition.

    “Today’s enforcement action is intended to send a message to all criminals who take advantage of government programs designed to help those who need them most,” said United States Attorney Bill Essayli. “If you took COVID-19 or SBA money you weren’t entitled to, your door could be the next one we visit. Together with our law enforcement partners, my office will aggressively prosecute individuals who cheat the system meant to protect and support law-abiding citizens.”

    “Scheming to fraudulently obtain federal funds that were meant to provide assistance to the nation’s small businesses is unacceptable,” said the U.S. Small Business Administration Office of Inspector General Western Region acting Special Agent in Charge Jonathan Huang. “OIG will continue to ardently investigate fraudulently obtained SBA program funds, including COVID-19 pandemic-related loans, to protect taxpayers from fraud, waste, and abuse. I want to thank the U.S. Attorney’s Office and our law enforcement partners for their dedication and pursuit of justice.”

    “Today, 14 individuals were arrested in connection with a fraudulent loan scheme in which they allegedly obtained in excess of $25 million through the SBA Paycheck Protection Program, Economic Injury Disaster Loan programs, and other federal funding programs,” said IRS Criminal Investigation Special Agent in Charge Tyler Hatcher, Los Angeles Field Office. “These programs were established to assist individuals and businesses in need of financial assistance and instead were pilfered by the named defendants. IRS-CI is dedicated to identifying and dismantling criminal organizations that prey on assistance programs set up for the benefit of our law-abiding citizens.”

    A criminal complaint contains allegations. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    If convicted, each defendant would face a statutory maximum sentence of decades in federal prison.

    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 Hotline at 866-720-5721 or via the NCDF Web Complaint Form.

    Assistant United States Attorneys Mark Aveis and Gregg E. Marmaro of the Major Frauds Section and Maxwell Coll of the Cyber and Intellectual Property Crimes Section are prosecuting these cases.

    Individuals across the world can report suspicious criminal activity to the ICE Tip Line 24 hours a day, seven days a week at 866-DHS-2-ICE. Highly trained specialists take reports from both the public and law enforcement agencies on more than 400 laws enforced by ICE.

    MIL OSI USA News –

    May 30, 2025
  • MIL-OSI USA: ICE Los Angeles, multiagency taskforce case results in freight forwarding company exec arrest on federal indictment alleging massive scheme to avoid customs duties payments

    Source: US Immigration and Customs Enforcement

    LOS ANGELES – The chief financial officer at a downtown Los Angeles-based shipping company was arrested May 27 on a 22-count federal grand jury indictment charging him and the company’s CEO with using fraudulent documents, shell companies, bribes to public officials, and kickbacks to Mexican drug cartels to smuggle billions of dollars’ worth of goods from the United States into Mexico, repeatedly lying to U.S. customs officials and defrauding Mexico out of hundreds of millions of dollars’ worth of duties owed. U.S. Immigration and Customs Enforcement, U.S. Customs and Border Protection, IRS Criminal Investigation and the DEA are investigating this matter.

    Ralph Olarte, 55, of Glendale, the CFO of Sport LA Inc., was arrested May 27 at Los Angeles International Airport. He made his initial appearance and was arraigned May 28 in United States District Court in downtown Los Angeles.

    Also charged in the indictment is Humberto Lopez Belmonte, 53, of Mexico City, who was arrested and arraigned on May 27 in Los Angeles federal court. Lopez pleaded not guilty to the charges against him and a July 21 trial date was scheduled. A federal magistrate judge ordered Lopez released on $100,000 bond.

    Olarte and Lopez are charged with one count of conspiracy to smuggle goods from the United States. Both defendants and their company, Sport LA Inc., also are charged with one count of smuggling goods from the United States, three counts of knowingly submitting false and misleading export information, five counts of wire fraud for false information submitted to CBP, one count of conspiracy to commit wire fraud against Mexico, one count of conspiracy to commit money laundering, and seven counts of international promotional and concealment money laundering.

    Sport LA is charged with three counts of making false statements to a government agency. The other defendant companies — H&R Logistics Inc. and Olarte Transport Service Inc. — are charged with one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering.

    According to the indictment returned on April 30 and unsealed May 27, Olarte and Lopez, from at least 2013 to the present, operated a lucrative international shipping enterprise. Through shipping companies they controlled, Olarte and Lopez smuggled billions of dollars’ worth of goods from and through the United States into Mexico. Many times, they concealed the nature of the shipped goods, some of which contained contraband.

    The companies allegedly submitted millions of false and misleading statements to U.S. customs officials, used shell companies in Mexico to shield their true customers, and created and presented false documents – including sham certificates for paid Mexican import taxes. They also bribed Mexican customs officials, paid kickbacks to drug cartels — including the Jalisco New Generation Cartel — to operate the scheme and smuggled bulk cash into the U.S. to avoid reporting requirements.

    Olarte and Lopez then laundered the proceeds of their scheme back from the true Mexican customers, through the shell companies, and ultimately into the companies’ U.S. bank accounts. As a result of the conspiracy, Olarte and Lopez personally received millions of dollars in illicit proceeds.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    If convicted, Olarte and Lopez would face a statutory maximum sentence of 20 years in federal prison for each count of wire fraud- and money laundering-related count, up to five years in federal prison for each smuggling- and false statements-related count, and up to two years in federal prison for each count of knowingly submitting false and misleading export information.

    This investigation is led by HSI’s El Camino Real Financial Crimes Task Force, a multiagency task force that includes federal and state investigators who are focused on financial crimes in Southern California.

    The Transnational Organized Crime Section is prosecuting this case.

    MIL OSI USA News –

    May 30, 2025
  • MIL-OSI USA: CFTC Awards Approximately $700,000 to Whistleblower

    Source: US Commodity Futures Trading Commission

    Washington, D.C. — The Commodity Futures Trading Commission today announced a whistleblower award of approximately $700,000. The whistleblower information prompted the CFTC to open the investigation and described the misconduct that ultimately appeared in the order. The whistleblower also provided substantial assistance and helped the Commission conserve resources during the investigation. The award was reduced because of an unreasonable delay in reporting the violations and the whistleblower’s culpability.
    “Whistleblowers often provide the most valuable evidence about wrongdoing,” said Brian Young, director of the Division of Enforcement. “Today’s award recognizes the courage it takes to come forward to the CFTC, as well as the critical role whistleblowers play in the CFTC’s enforcement efforts.”
    “We appreciate that the Commission granted this award to a whistleblower who provided key evidence and helped the CFTC interpret it,” said Cynthia Lie, acting director of the CFTC’s Whistleblower Office. “The Whistleblower Office is committed to rewarding whistleblowers for their significant contributions in identifying fraud, manipulation, and abuse in commodity markets.”
    Acting Associate Director Dan Schiffer and Senior Attorney Advisor Laurence Tai of the Whistleblower Office handled this whistleblower award.
    About the CFTC’s Whistleblower Program
    The Whistleblower Program was created under Section 748 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Since issuing its first award in 2014, the CFTC has granted whistleblower awards amounting to approximately $390 million. Those awards are associated with enforcement actions that have resulted in monetary sanctions totaling over $3.2 billion. The CFTC issues awards related not only to the agency’s enforcement actions, but also in connection with related actions brought by other domestic or foreign regulators, if certain conditions are met.
    The Commodity Exchange Act provides confidentiality protections for whistleblowers. Regardless of whether the CFTC grants an award, the CFTC will not disclose any information that could reasonably be expected to reveal a whistleblower’s identity, except in limited circumstances. Consistent with this confidentiality protection, the CFTC will not disclose the name of the enforcement action in which the whistleblower provided information or the exact dollar amount of the award granted.
    Whistleblowers may be eligible to receive between 10 and 30 percent of the monetary sanctions collected. All whistleblower awards are paid from the CFTC’s Customer Protection Fund, which was established by Congress, and is financed entirely through monetary sanctions paid to the CFTC by violators of the CEA. No money is taken or withheld from injured customers to fund the program.
    * * * * *
    Anyone with information related to potential violations of the CEA or the CFTC’s rules and regulations can submit a tip electronically by filing a Form TCR (Tip, Complaint or Referral) online.
    Visit Whistleblower.gov for more information about CFTC’s Whistleblower program.

    MIL OSI USA News –

    May 30, 2025
  • MIL-OSI USA: InnerFrame Launches in La Plata County, Advancing Mental Wellness and Job Creation through Rural Jump-Start Program

    Source: US State of Colorado

    DURANGO — The Business Funding & Incentives Division of the Colorado Office of Economic Development & International Trade (OEDIT) announced today that Durango-based InnerFrame, a media technology company focused on personal development and mental well-being, has been accepted into the Rural Jump-Start Program.

    InnerFrame is an innovative technology company leveraging artificial intelligence to transform digital media into a tool for personal growth and mental wellness. Drawing from neuroscience and behavioral psychology, the company’s proprietary video platform delivers emotionally resonant, highly personalized content designed to support intentional living and self-development. By reimagining screen time as a meaningful, science-backed ritual, InnerFrame helps users align with their goals and reinforce positive daily habits through immersive visual storytelling.

    “Our Rural Jump-Start Program continues to support businesses like InnerFrame and strengthen local economies across Colorado,” said Governor Jared Polis. “InnerFrame will bring good-paying jobs to the region and contribute to the state’s tech industry through its digital innovations.”

    Over the next four years, the company plans to create more than 20 high-quality jobs in La Plata County, with wages exceeding the regional average. As it continues developing its AI-powered tools, InnerFrame plans to support both individual well-being and the region’s growing tech ecosystem.

    “At InnerFrame, we’re redefining screen time as a powerful tool for personal growth,” said Erica Hines, CEO of InnerFrame. “We’re drawing on the science of neuroplasticity and using media more intentionally through content that’s personalized, reflective, and grounded in what matters. We’re also deeply committed to creating meaningful jobs in our region to support local economic growth and give back to the community that has supported us from the start.”

    “We are delighted to see InnerFrame grow in La Plata County,” said Eve Lieberman, Executive Director of OEDIT. “Colorado is a leader in tech innovation, and InnerFrame’s presence in the Southwest will help ensure rural communities benefit from the industry’s expansion and job creation.”

    As the first company in La Plata County to be accepted into the Rural Jump-Start (RJS) Program, InnerFrame is eligible for significant tax benefits, including relief from state business income tax, sales and use tax, and local business personal property taxes. Eligible employees will also receive a state personal income tax exemption. In addition, the company will receive $15,000 in grant funding to support the launch of its operations. These benefits are intended to encourage economic development and job creation in economically distressed, rural counties of Colorado.  

    Regional partners, including the Region 9 Economic Development District and the Southwest Colorado Accelerator Program for Entrepreneurs (SCAPE), played a vital role in identifying InnerFrame as an RJS candidate and will continue supporting its long-term success.

    “As the first RJS business in La Plata County, InnerFrame is a perfect fit for the program, and SCAPE is excited to support their growth,” said Elizabeth Marsh, Executive Director of SCAPE. “We are grateful for state programs that recognize the importance of cultivating new businesses.”

    “Region 9 Economic Development is thrilled to welcome its first RJS business in La Plata County,” added Laura Lewis Marchino, Executive Director of Region 9 EDD. “We look forward to supporting InnerFrame as they develop a truly unique product and service in our region.”

    To learn more about the Rural Jump-Start program, please contact Quina Weber-Shirk at quina.webershirk@state.co.us.

    About the Colorado Office of Economic Development and International Trade

    The Colorado Office of Economic Development and International Trade (OEDIT) works to empower all to thrive in Colorado’s economy. Under the leadership of the Governor and in collaboration with economic development partners across the state, we foster a thriving business environment through funding and financial programs, training, consulting and informational resources across industries and regions. We promote economic growth and long-term job creation by recruiting, retaining, and expanding Colorado businesses and providing programs that support entrepreneurs and businesses of all sizes at every stage of growth. Our goal is to protect what makes our state a great place to live, work, start a business, raise a family, visit and retire—and make it accessible to everyone. Learn more about OEDIT.

    ###

    MIL OSI USA News –

    May 30, 2025
  • MIL-OSI USA: H.R. 2384, Financial Technology Protection Act of 2025

    Source: US Congressional Budget Office

    H.R. 2384 would establish a working group within the Department of the Treasury to research terrorists’ use of new financial technologies, including digital assets, and report on its findings. The working group would comprise 11 senior-level representatives from specified agencies in the federal government and 5 people representing businesses and other interested organizations. The bill would require the working group to report within 180 days of enactment on the evasion of sanctions using digital assets to the Congress and to report annually to the Congress and other executive branch agencies about its findings. Under the bill, the working group would sunset four years after enactment.

    Using information about the costs of similar working groups, CBO estimates that implementing H.R. 2384 would cost less than $500,000 annually, totaling $1 million over the 2025-2030 period for administrative costs; any related spending would be subject to the availability of appropriated funds.

    The CBO staff contact for this estimate is Matthew Pickford. The estimate was reviewed by H. Samuel Papenfuss, Deputy Director of Budget Analysis.

    Phillip L. Swagel

    Director, Congressional Budget Office

    MIL OSI USA News –

    May 30, 2025
  • MIL-OSI USA: Hoeven: USDA Releases First $1 Billion in Livestock Disaster Assistance Targeting Losses from Wildfire & Drought

    US Senate News:

    Source: United States Senator for North Dakota John Hoeven

    05.29.25

    ELRP Using LFP Application Data to Streamline Assistance; Additional Livestock Aid to be Released Later this Summer

    BISMARCK, N.D. – Senator John Hoeven today announced the U.S. Department of Agriculture (USDA) has released $1 billion in disaster relief for livestock producers impacted by wildfire or drought in 2023 or 2024. The Emergency Livestock Relief Program (ELRP) funding comes as part of the $21 billion in weather-related assistance that Hoeven worked to include in the year-end legislation passed by Congress in December. The details of ELRP are as follows:

    • This is the first of two assistance programs addressing losses impacting livestock producers.
      • Additional ELRP assistance for other losses, including flooding, will be released later this summer, bringing the total livestock set-aside to $2 billion.
    • The Farm Service Agency (FSA) will use existing Livestock Forage Disaster Program (LFP) data to streamline payment calculations and expedite relief.
      • This follows Hoeven’s work encouraging Agriculture Secretary Rollins to utilize a streamlined application process to help ensure an efficient and timely process.
    • Emergency relief payments are automatically issued for producers who have an approved LFP application on file for 2023 and/or 2024.
      • Producers do not have to contact USDA to receive payments.
    • Additional information and resources are available to producers on USDA’s website here: https://www.fsa.usda.gov/resources/programs/20232024-supplemental-disaster-assistance.

    “This first round of $1 billion in emergency livestock assistance specifically targets wildfire losses, bringing needed relief to, and aiding the recovery of, ranchers in North Dakota,” said Hoeven. “We appreciate Secretary Rollins for working with us to get this assistance out the door and to streamline the process for our producers, both under today’s ELRP funding and the ongoing market-based assistance program. We look forward to USDA advancing the remaining assistance and delivering all $34 billion in disaster aid to help ensure a resilient farm economy, while we continue working to strengthen the farm safety net on a long-term basis.”

    Hoeven also continues working with USDA to advance the remaining $20 billion in weather-related assistance for losses in 2023 and 2024, following his efforts to advance the $10 billion in market-based assistance. North Dakota producers have since received nearly $565 million under the Emergency Commodity Assistance Program (ECAP).

    MIL OSI USA News –

    May 30, 2025
  • MIL-OSI United Kingdom: Attorney General’s 2025 RUSI Annual Security Lecture

    Source: United Kingdom – Executive Government & Departments

    Speech

    Attorney General’s 2025 RUSI Annual Security Lecture

    On 29 May 2025, the Attorney General Lord Hermer KC delivered the RUSI Annual Security Lecture, reinforcing the government’s commitment to international law.

    INTRODUCTION   

    INTRODUCTION   

    In December of last year, in his Mansion House speech, the Prime Minister recalled the internationalist mindset of the Atlee government of 1945 – that it was only by maintaining our strength abroad that we would be able to succeed at home.  The Prime Minister described Atlee’s approach as hard-headed and patriotic – and made plain that the same values would govern our approach to foreign policy.

    Building on that theme the following month, in his Locarno Speech, the Foreign Secretary labelled this distinctive approach to foreign and security policy – as Progressive Realism, which he said required:

    “Taking the world as it is, not as we wish it to be. Advancing progressive ends by realist means.”

    And I would like to take this opportunity today to set out the legal underpinning for Progressive Realism, which I will argue combines both a pragmatic approach to the UK’s national interests with a principled commitment to a rules-based international order.      

    I am going to start by setting out some of the complexities and challenges of the world that we face, then to address – in order to dismiss – the critique of those I will describe as legal romantic idealists on the one hand, and proponents of what I will call pseudo-realism on the other, before arguing that  British leadership to strengthen and reform the international rules-based system is both the right thing to do and the only truly realistic choice.

    Before I turn to this, let me first thank Lord Parker for his introduction.  Andrew spent his career keeping Britain safe from all manner of threats during a challenging period, before moving on to the Royal Household. So his experience on these security issues has few parallels, and his ability to keep secrets will have been tested in very different ways. 

    Let me also thank our hosts. It is a real privilege to receive this invitation to deliver the prestigious RUSI Annual Security Lecture. RUSI has held a place of real importance in our public debate for over 200 years.  Sitting in government, it is an obvious place to look for expertise, for advice but also for challenge.                                            

    No one in this government is under any illusion of the scale of the threats to global security we presently face. The most devastating war in Europe  since 1945, the  war in Gaza getting ever more bloody and bleak by the day, trade through the Red Sea effectively halted by Houthi attacks, the killing fields of Sudan – we also face profound  threats within our own borders from an increasingly assertive axis of hostile states, engaging in espionage, targeting of critical infrastructure and threatening of UK based dissidents; as well as criminal gangs exploiting the most vulnerable by fuelling irregular migration. 

    As this audience will know better than most, the list of threats goes on. And although some of these threats we have witnessed before, their complexity and unpredictability are unparalleled because they are fuelled synergistically by factors such as how the transformation, of information and disinformation is shared across the globe through social media and increasingly AI – and because we face these threats at this moment in which many are seeking to undermine the multilateral frameworks that have kept us safe since 1945.        

    The challenges we face are truly enormous and as the Foreign Secretary observed in his Locarno speech the world order had irreversibly changed. The Foreign Secretary said:

    “… we have to accept that there is no going back.  We must stop the 1990s clouding our vision. The post-Cold War peace is well and truly over. This is a changed strategic environment. … Europe’s future security is on a knife edge.”

    Allow me to explain how our policy of Progressive Realism meets this moment. And the role the law, and the international rules-based order plays in our approach. Because our approach is a rejection of the siren song, that can sadly, now be heard in the Palace of Westminster, and in some spectrums of the media, that Britain abandons the constraints of international law in favour of raw power.          

    This is not a new song.

    The claim that international law is fine as far as it goes, but can be put aside when conditions change, is a claim that was made in the early 1930s by ‘realist’ jurists in Germany most notably Carl Schmitt, whose central thesis was in essence the claim that state power is all that counts, not law. Because of the experience of what followed in 1933, far-sighted individuals rebuilt and transformed the institutions of international law, as well as internal constitutional law.

    Now part of our pragmatic approach to foreign affairs is to learn from experience – to analyse without preconception or dogma what has been shown to protect British interests in the world and what has not.  Schmitt’s so-called realism has for eighty years been refuted by the fact that these institutions, post 45 institutions, have provided the basis until now for Western and other states, wildly varied in nature, to interact with each other under conditions of peace and stability, all the while pursuing their own strategic interests. Raw, wild power, on its own, in so many different calculi, has rarely been picked as a modus operandi because it was not, is not, a realistic way to advance national interests.               

    Now drawing on historical experience, it is important to stress the role of Britain in the rebuilding of the post war consensus, in the development of international law and multinational institutions – all a rejection of the discredited Schmitt-ian conception of power. Our role then, in Yalta, in San Francisco, in Bretton Woods and beyond helps explain why so many look to us for a leadership role now. There is a temptation among its critics to see international law as something inflicted upon us by others, as something undemocratic and somehow “foreign”. Such assertions frankly smear great the British historic success in providing the international leadership that has established and shaped so much of the rules-based international order. That order was built in the twentieth century on the ideas forged by great British international lawyers, notably Sir Hersch Lauterpacht, the Cambridge Professor of International Law and Britain’s judge on the International Court of Justice. We should not forget that it was a Conservative politician, David Maxwell Fyffe, who was one of the principal drafters of the European Convention on Human Rights.

    Let me return to today, where like many public debates in our age of social media, this important, nuanced and complicated discussion about the import of international law is becoming increasingly polarised between what I have described as romantic idealists and pseudo-realists. 

    Romantic idealists say that international law, conceived as the reign of moral principle, provides a complete answer to any question. To these idealistic champions, British foreign policy is simple. Follow moral principle wherever it takes us. We should always lambast our closest allies regardless of whether or not it is constructive to the politics that we pursue. We should always call out our partners, with different types of governments, regardless of whether the criticism works or whether quiet diplomacy might more effectively produce results. We should always talk to hostile regimes nicely because that will result in them being nicer to us. Such an approach is dangerously naïve – it takes the world as it wants it to be, not as it is. Positioning ourselves as the pious priest, confining ourselves to the comfort of self-righteous declaration, would confine us to irrelevance in global affairs because it focuses myopically on ‘means’ not ‘ends’ – in a manner that ultimately benefits no one. 

    At the other end of the spectrum, pseudo-realists demand that in these volatile times we must abandon our longstanding commitment to international law and to moral principle. 

    They say that we are witnessing the unravelling of the post-war international legal order and that the interests of each nation-state must again be superior to any international norms. They are essentially arguing a return to Bismarckian notions of realpolitik.  Bismarck said, in 1862:

    The great questions of the day will not be decided by speeches and the resolutions of majorities, but by ‘Blut und Eisen’ (blood and iron).

    These pseudo-realists advocate for the UK flexing its muscles to make sure it has a seat at the table in the rooms of the powerful where new rules and norms will be forged in the furnace of raw power, rules which may well apply not to all, but only to states in alliances in permanent conflict with other alliances which have chosen to be bound by different rules. There will no longer be a rules-based international order, but rather the war of one against all that Thomas Hobbes famously portrayed as the international state of nature. 

     [Redacted political content]

    What I hope to do is to start to depolarise this debate by setting out the legal underpinning for the principled pragmatism that guides this Government’s foreign and security policy of Progressive Realism. My argument is that we should reject both the pseudo “realpolitik” and the romantic idealists’ view of international law. Their temptingly simple narratives not only misunderstand our history, not only misunderstand international law, it is also reckless and dangerous, and will make us less prosperous, less safe and less secure in a troubled world.

    Let me give you four reasons why: 

    First, we need to be clear that a selective, or ‘pick and mix’ approach to international law by the United Kingdom will lead to its disintegration.   The cherry picking advocated by the pseudo-realists is fundamentally at odds with the nature of international law as law. The international rules- order soon breaks down when States claim that they can breach international law because it is in their national interests. That is the present argument advanced by Russia.             

    The argument [Redacted political content] that the UK can breach its international obligations when it is in the national interest to do so, is a radical departure from the UK’s constitutional tradition, which has long been that ministers are under a duty to comply with international law.   

    This isn’t Conservatism, this is radicalism, which stands completely at odds with that proud constitutional history in this country. I agree with the views consistently expressed by my, mostly Conservative, predecessors in this role.  Dominic Grieve, for example, told the House of Lords Constitution Committee in 2022:

      “The duty to observe international law is enshrined in our unwritten constitution because it is Her Majesty’s intention that her servants should observe the binding agreements that her previous servants have entered into—unless, of course, you want to resile from an international treaty.”    

    And in this country, I believe that the vast majority of people believe that if you make a promise you should keep it – if you enter a contract you should comply with it. Our decency and reliability are our hallmarks as a nation. To similar effect, we also understand that if you sign a contract then you cannot unilaterally choose to comply with some terms but not others – the deal falls through, and no one would trust you enough to secure advantageous terms in the future.

    Second, in this dangerous world it is instructive to ask yourself this if the international law framework fails, if our multilateral institutions fall, then Cui Bono?  Who benefits?  The answer is obvious – it is our enemies who succeed. It is obvious that Russia and other malign state-actors see the undermining of the legal based framework as a core objective. Putin does not simply apply a Schmitt-ian approach to the rule of law within the boundaries of Russia and its proxies, he recognises the huge strategic advantage that would flow in undermining the post 1945 international law framework. It’s why he invokes exceptionalism to justify his crime of aggression, it is why he devotes so many of his resources to undermining democracies and to seeking to fuel divisions within them. 

    This is why the approach of both romantic idealists and pseudo-realists are not simply wholly naïve but dangerous. There is nothing ‘realistic’ at all about the latter’s views and that is why I label them ‘pseudo-realists’. Their analysis is the precise opposite of realistic – it is deeply unworldly, fit for a university debating chamber perhaps but not the world in which our enemies recognise the strategic benefits of the disintegration of the international rules-based framework and where the stakes for western democracies could not be higher. Let me be crystal clear – I do not for one moment question the good faith let alone patriotism of the pseudo-realists but their arguments if ever adopted would provide succour to Putin.

    Third, international law is a key vehicle by which states can both pursue their strategic interests and at the same time give effect to the norms and values that they hold dear. States can amplify and project their hard power, for example, by entering into legally binding treaties creating powerful military alliances with other states, such as NATO, or beneficial intelligence sharing alliances such as the Five Eyes. At the same time, states can also use international law to protect certain values they hold dear; security of our borders, human rights, equality and the rule of law. There is no inherent contradiction between international law and determined pursuit of national strategic objectives. The school of pseudo- realpolitik critique is wilfully blind to the extent to which international law is itself already a framework for principled, pragmatic, pursuit of national interests.       

    Let me put to bed the notion that international law is somehow an affront to state sovereignty. To the contrary, international law is founded on the idea of state sovereignty. And without international law, there would be no state sovereignty, only the emptiness of that word in a world where hunks could be ripped off borders and every dispute be settled by the force of the strong.                    

    When a state chooses to enter into an international treaty, and it is a choice, that does not involve any surrender of national sovereignty to malevolent international actors or make the state a vassal of international organisations – it is a conscious decision that a state makes in their own interest.        

    International treaties always recognise that States might disagree about their interpretation. This is why we have dispute mechanisms. This is why states can leave the treaties they have signed and agreed on. But the integrity and force of the system requires that once a party, to an agreement, they abide by its rules — they don’t pick and mix.        

    Fourth argument is this, our international obligations are not onerous but manifestly in this country’s national interests. This is at the heart of progressive realism. In addition to safeguarding our national interests, as the tectonic plates of the international order shift dramatically, we as a government are seizing the opportunity to provide global leadership, combining hard-headed British pragmatism with our equally strong and hard-earned global reputation for a commitment to international law. We know from experience that we can best achieve our own goals only within a framework of international law that makes the same possible for others.

    We have real life experience as a nation in experimenting with pseudo-realism.

    [Redacted political content]

    By contrast with the inconsistent, flamboyant and on occasion inflammatory rhetoric, this Government is clear that the national interest is served by the restoration of our reputation not simply as a nation that respects its international law obligation but as a leader in the rules-based international order. Our return as a good faith actor has been greeted with warmth across the globe – I have seen it myself in meetings in Kyiv, in discussions with European partners and the halls of the United Nations. What we can feel is a palpable relief that we are stepping up.  

    Last week, at the press conference marking the historic agreement between the UK and the EU, the Prime Minister said this:

    “Britain is back on the world stage … facing out to the world once again in the great tradition of this nation.  Building the relationships we choose, with the partners we choose, and closing deals in the national interest.”

    The agreement with the EU includes a significant new trade deal with our closest trading partner – it will make a real difference to our economy and the standards of living of our citizens. It is only the recent such trade deal.

    There is also the US Economic Prosperity Deal, with the world’s biggest economy and most powerful democracy, and our closest ally. 

    There is the Free Trade Agreement with India, the world’s largest democracy and our Commonwealth partner which will inject billions of pounds into the economy.

    The first ever Economic 2+2 with Japan, a new economic partnership with the world’s fourth largest economy a strong ally of this country in the Pacific.

    In is not ‘despite’ of our commitment to international law that trade deals are being signed within months where the previous government failed over years – rather it is ‘because’ we are now once again a trusted partner. Our word is once again our bond – not a phrase that could be uttered in good faith by the pseudo-realists. These successes, secured in international agreements, will be felt in the most concrete of ways of the people of this country – in tens of thousands of new jobs, in the raising of living standards and more money in people’s pockets. This economic benefit is a direct consequence of our return as a trusted partner in the rules-based order. 

    Beyond trade, we have led efforts to ensure Europe steps up to meet the security challenges flowing from Russia’s illegal invasion of Ukraine. This means supporting Ukrainian efforts to defend itself, readying Europe to step up for any ceasefire or peace and continue to strengthen efforts to deliver a measure of accountability for those responsible for the atrocities involved in Russia’s actions. 

    More broadly across the European continent, we have concluded a significant new Defence and Security Partnership which substantially strengthens this country’s security. It will upgrade our cooperation on areas ranging from defence industry, mobility of military material and personnel, maritime security and space security. It sets the framework for closer defence industrial collaboration, including potential participation in the EU’s proposed €150bn Security Action for Europe instrument. This on top of the Global Combat Air Programme treaty ratified in December 2024, delivering a next generation combat aircraft for 2035, to keep us ahead of new and evolving threats for decades to come and creating thousands of new jobs, right across this land.

    Our good faith adherence to international law brings together other vital interests. We have strengthened partnerships on border security with our nearest neighbours and built their confidence that we can be trusted to be fair and honest in our dealings and bringing to a decisive end what the Prime Minister has described as “gimmicks” which were proving a barrier to effective collaboration. It is no accident that the previous Government who played so fast and loose with our reputation as a leader in international law, were unable to reach any agreements that effectively addressed unregulated migration – yet within months of office the Home Secretary has reached ground breaking deals with France in respect of patrols of their own waterways to stop boats crossing the channel; Germany has agreed to amend its own domestic laws to stop the transport of boats and parts – agreements which are essential components of attempts to clamp down on the criminal enterprise of boat crossings –which would have been inconceivable, inconceivable, whilst the UK was posturing over support for the ECHR and international law more generally. 

    So, allow me if you will, to channel Reg, the leader of the People’s Front of Judea in Life of Brian and ask rhetorically what has international law ever done for us?  Well, the answer is that it has helped give us peace, security and prosperity. 
    And it will continue to do so – this is just the start – together with other initiatives which the Foreign Secretary and others in the Government are working on right now, they will bring tangible benefits to the people of our country. They are the early fruits of the UK’s clear signal to the international community that it can once again be treated as a trusted international partner. A country which will keep its word when it enters into international agreements. A country that stands up for principle and takes a broad perspective on compliance with the law, recognising of course occasional frustrations in the moment but huge benefits in the longer-term.  

    We are not Progressive Realists because we qualify our realism. We are Progressive Realists because we combine both a commitment to progressive ends with a realistic understanding of how those ends can be achieved in the world as it is. Because a commitment to international law is both the right thing to do and the realistic, rational, cool-headed thing to do. We are Progressive Realists because painstakingly upholding and strengthening the rules that enshrine respect for human dignity, accountability for breaches of international humanitarian law, fair rules permitting free trade, protections of our environment and defence pacts that protect our nation— is not restraining ourselves but pursuing our national interest. And the only truly realistic choice we can make.  And it is truly a patriotic one.              

    We are Progressive Realists because we do not shy away from a belief in the importance of value-based multilateralism as a fundamental force for good in the world – and we recognise the power those ideals both hold and bring us. 

    The late Kofi Annan once said:

    Our enemy now is indifference, the belief that there are many worlds, and that the only one we need to care about is our own.

    We will not be indifferent. The promotion of, and compliance with, these progressive values underpinning international law and the multilateral institutions that have grown up to support them over the past 80 years is a source of immense national pride – it is a great British value to say that we want to make the world a better, safer and more prosperous place. There is no contradiction between approaching the world with a hard head but also a warm heart. This is Progressive Realism. 

    Now, before I conclude, allow me to say something about how international law adapts to the changing challenges we face and the role of nations in shaping it. 

    As progressive realists we recognise that international law cannot stand still and rest on its laurels. It must be critiqued and where necessary reformed and improved. Nothing I have said here is intended to shield international rules or treaties from evidence-based criticism or proposals to reform.  Nor do I argue for one moment that the international law system covers every problem.

    As we look to deal with fresh challenges and changes, we must not stagnate in our approach to international rules and customary norms. We must look to apply and adapt existing obligations to address new situations or technological advances. And we must be ready to reform where necessary.

    We need to recognise that international law is incomplete. It was not intended, as I said to cover every situation or development. Some areas were deliberately left unregulated or only covered at a high degree of general principle. The legal space has not eliminated the political space. They continue to co-exist, and law, including international law, regulate how they interact.

    States agreeing to treaties some time ago did not give an open-ended licence for international rules to be ever more expansively interpreted or for institutions to adopt a position of blindness or indifference to public sentiment in their member states. International rules and institutions should not, without state consent, bend existing rules and obligations to make decisions or trade-offs that are far more effectively and legitimately dealt with through political and diplomatic means. Equally though, states and governments must not use international laws and institutions as a convenient scapegoat to evade taking hard decisions or advocating for reform.

    Again, the tincture for any such ills that the system suffers in this way is I suggest a strong dose of balanced British pragmatism and principle. As we have shown time and again as a nation, one from a position of respect and compliance, we have proven that reform is possible and institutions can be reformed. The UK has provided the international leadership for the renewed focus on subsidiarity in the European Convention on Human Rights – reminding both states and the international institutions that the primary responsibility for upholding human rights rests on national authorities, and that the role of the Court is a supervisory one which only need be invoked when the national system for protecting those rights has failed. That focus on subsidiarity, properly understood as a duty on states to implement, revives the importance of political discussion and debate about human rights which is so vital to preserving their democratic legitimacy. International law cannot and must not replace politics. 

    That’s why Progressive Realism, internationally, is above all the assembling of the necessary coalitions to tackle our current challenges; challenges that appear from AI, climate change and trade, to conflict resolution in places like Ukraine. Because none of these problems can be addressed from the sidelines, where the romantic idealists might relegate us. And all can only be addressed by agreeing and complying with negotiated deals which are then made binding in legal texts – the very power of which the pseudo-realists seek to undermine.        

    Negotiations, driven by politics and diplomacy, and then knitted together in law, are the answer. You cannot have one without the other, at least not in a way that provides sufficient certainty or sustainability.

    Allow me if you will, to end with a personal recollection. In September of last year, I travelled to Ukraine.  As part of my visit, I travelled to the outskirts of Kyiv, first to Babyn Yar to pause at the memorial to the thousands of Jews who were murdered there over two bloody days by the Einsatzegruppe in 1941 and then onwards to the town of Bucha, which in the early days of the current conflict marked the furthest point of Russian advance. Many of you will have been there. Some 40 mins or so from central Kyiv, Bucha is a picturesque town with dachas dotted in the forests. I was taken to the gleaming white St Andrew’s Orthodox Church where I was met by the local priest Father Andiry Halavin. He took me first to a plot of grass behind the church where he and others buried over two hundred residents in a mass grave and then next to it a memorial wall with the names of over 500 civilians, murdered in cold blood by the Russian forces – the names on the wall of entire families murdered, of children, of the elderly. I sat afterwards in the church, quietly with Father Andiry and asked him how as a man of faith he made sense of the intense inhumanity that he had witnessed. In some ways it was an unfair question to ask but his response blew me away – it only makes sense, he said, if you believe in justice, that these crimes have shown the world the inhumanity and illogicality of war, and that those who committed the crimes will be held to account. Father Andiry was not referring to divine justice but to justice under law, including under international law and the return to the stability and sanity that it provides – having witnessed the bloody anarchy of its absence.

    That experience is a small reflection of why this Government’s approach to the grave challenges of our time is not to shrink away from our international responsibilities but through progressive realism to work to uphold the international rules-based order in our vital national interests and to contribute thereby to making this world a safer and more prosperous place now and for future generations. The true realist sees no other choice.  

    Thank you very much.

    Updates to this page

    Published 29 May 2025

    MIL OSI United Kingdom –

    May 30, 2025
  • MIL-OSI: Invest529 Launches Smart Start Giveaway to Celebrate 529 Day with $25 Contribution

    Source: GlobeNewswire (MIL-OSI)

    Richmond, Va., May 29, 2025 (GLOBE NEWSWIRE) — The cost of higher education is on the rise, and Invest529 is helping families across the country take the first step toward saving for their children’s future with its “Smart Start”Giveaway.

    For one day only (May 29), get a $25 contribution when you open a new Invest529 account.

    May 29 is recognized nationally as 529 Day, a chance to remind people of how important it is to plan for a loved one’s higher education costs and to raise awareness of the benefits 529 accounts offer in helping individuals and families save.

    Visit Invest529.com for more information about Invest529 and to read the “Smart Start” Giveaway official terms and conditions. 

    About Invest529℠:
    Invest529 helps make education more accessible and affordable for families and individuals. With more than $107.4 billion in assets under management and 3.1 million accounts as of April 30, 2025, Invest529 is the largest 529 plan in the country. The program includes two flexible, affordable, tax-advantaged options—Invest529 and CollegeAmerica®—as well as the early commitment scholarship program, SOAR Virginia®, all designed to support students of any age in achieving their higher education goals. To learn more about education savings options from Invest529, visit Invest529.com or call 1-888-567-0540 to request program materials. These materials include information about Virginia529 programs, including investment objectives, risks, charges, expenses and other important details. Please read them carefully before investing. All investments involve risk, including the possible loss of principal. Invest529 recommends that prospective participants consult with a financial, tax, or legal advisor regarding the implications of opening an account. For non-Virginia residents: Before investing, consider whether your or your beneficiary’s home state offers state tax or other benefits—such as financial aid, scholarship opportunities, or creditor protection—that may only be available through that state’s qualified tuition program. ©2025 Invest529. All rights reserved.

    The MIL Network –

    May 30, 2025
  • MIL-OSI: Marksmen Energy Inc. Provides Update on the Filing of its 2024 Annual Financial Statements and Q1 Interim Financial Statements

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, ALBERTA, May 29, 2025 (GLOBE NEWSWIRE) — Marksmen Energy Inc. (“Marksmen” or the “Company“) is providing this update further to its news release dated May 15, 2025 with respect to the Alberta Securities Commission (“ASC“), having issued a management cease trade order (“MCTO“) to Marksmen pursuant to its application under National Policy 12-203 Management Cease Trade Orders (“NP 12-203“) in respect of the default regarding the delay of the filing of its annual financial statements, accompanying management’s discussion and analysis and related chief executive officer (“CEO“) and chief financial officer (“CFO“) certifications for the financial year ended December 31, 2024 (collectively, the “Annual Filings“).

    Marksmen continues to work closely with its auditor MNP LLP and is making every effort to submit the Annual Filings in a timely fashion and expects to file no later than June 15, 2025.

    As a result of the delay in filing the Annual Filings, the Company’s interim financial statements for the three months ended March 31, 2025, the accompanying management discussion and analysis and related CEO and CFO certifications (“Q1 Filings“) will not be filed by the prescribed deadline of May 30, 2025. The Company currently anticipates that it will be in a position to file the Q1 Filings by June 30, 2025. The ASC has confirmed that the MCTO will remain in effect until June 30, 2025.

    The Company confirms that, other than as disclosed in its news release dated May 15, 2025, or as set out herein, there is no other material information concerning the affairs of the Company that has not been generally disclosed.

    The MCTO prohibits the CEO and the CFO from trading in securities of Marksmen for two full business days after the Annual Filings and Q1 Filings have been filed. The issuance of the MCTO does not affect the ability of persons other than the CEO and the CFO of the Company to trade in the Company’s securities.

    Until the Annual Filings and Q1 Filings have been filed, the Company confirms that it intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 for so long as it remains in default as a result of the late filing of the Annual Filings and Q1 Filings by issuing biweekly default status reports in the form of further news releases.

    For additional information regarding this news release please contact Archie Nesbitt, Director and CEO of the Company at (403) 265-7270 or e-mail ajnesbitt@marksmenenergy.com.

    Forward Looking Information and Risk Factors

    This news release contains statements and information that may constitute “forward-looking information” within the meaning of applicable securities legislation, including statements identified by the use of words such as “will”, “expects”, “positions”, “believe”, “potential” and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts.

    Such forward-looking information is not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information contained herein may include, but is not limited to, information concerning the estimated filing date of the Annual Filings and Q1 Filings.

    By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. Some of these risks include, but are not limited to, the risk that the Annual Filings and Q1 Filings are filed later than anticipated, the risk that the Company’s MCTO is revoked for any reason, in which case there is a risk that trading in the Company’s securities may halted by the TSX Venture Exchange and/or cease traded temporarily by the Canadian securities commissions until such time as the Annual Filings and Q1 Filings are filed on SEDAR+.

    Additional information regarding risks and uncertainties of the Company’s business are contained under the headings “Financial Risk Management” and “Going Concern” in the Company’s Management’s Discussion & Analysis for the condensed interim consolidated financial statements for the nine months ended September 30, 2024 and the Company’s other public filings which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

    In connection with the forward-looking information contained in this news release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information contained in this news release are made as of the date of this news release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice.

    The MIL Network –

    May 30, 2025
  • MIL-OSI USA: Huizenga Leads 100+ Members of Congress in Bipartisan Effort to Save Family Farms, Enact H-2A Wage Freeze

    Source: United States House of Representatives – Congressman Bill Huizenga (MI-02)

    Today, Congressman Bill Huizenga (R-MI) announced he was joined by over 100 of his colleagues on a letter recently sent to House Appropriations leaders requesting an H-2A visa guestworker wage freeze in upcoming appropriations legislation. This simple policy fix would lower input costs for the agricultural community and save family farms across the nation. The level of support for freezing the H-2A wage rate is significant because it is bipartisan and represents the majority of the House Republican Conference (111). Last Congress, Huizenga led the charge to help family farms and achieved a policy win in legislation that passed the House Appropriations Committee.

    The “Adverse Effect Wage Rate (AEWR),” or the required wage that farm employers must pay H-2A workers, more than doubled since 2005, making agricultural labor and its products more unaffordable. With the nation’s average AEWR reaching $18.12/hr in 2025 (more than a 3% increase year over year) on top of other input costs including fuel, housing, and fertilizer also rising, many farms are in danger of going out of business. In Michigan, the AEWR is a steep $18.15/hr, while our Canadian neighbors pay their agricultural workers closer to $12/hr, or just a few dollars in Mexico. A temporary wage freeze is a reasonable way to alleviate this skyrocketing financial burden and give our farmers a chance to compete, stay in business, and put food on the table for millions of Americans and the world.

    A signed copy of the letter is available here.

    “In Michigan and across our nation, family farms are struggling due in part to soaring H2A labor costs,” said Congressman Bill Huizenga. “Washington should be working to help American farmers lower costs, not crushing them with outdated mandates that balloon their expenses and make it more difficult for these multigenerational farms to keep the lights on. I am proud to lead this bipartisan effort, which includes the majority of House Republicans, to provide the most immediate, practical, and agreed-upon way to enact relief and stop farms here in Michigan and around the country from shutting down their operations.”

    “I have met with fifth and sixth-generation Michigan farmers who are worried they will be the last in their families to farm unless the Labor Department ends the policies making it harder for them to do business. An AEWR freeze, like the one in my Supporting Farm Operations Act, is a common-sense solution widely supported by the agriculture community. Thank you to Congressman Huizenga for leading this letter with dozens of members supporting our efforts. As our state’s only member of the House Appropriations Committee, I will continue to fight for much-needed relief for farmers,” said Congressman John Moolenaar.

    “Michigan farmers are beginning another season filled with the hope of delivering safe, plentiful, and affordable crops for consumers. Nonetheless, the farm families and agricultural guest workers crucial for cultivating these crops find themselves in uncertainty due to unsustainable adverse effect wage rates. It is essential for farmers and workers to have a dependable and sensible method for calculating this mandated wage. The Michigan Farm Bureau commends Congressman Huizenga and Congresswoman Scholten for spearheading this effort, alongside many of their colleagues, to instigate necessary changes that will offer relief to America’s farm families,” said Matt Smego, Director of Public Policy & Commodity Division, Michigan Farm Bureau.

    “Representative Bill Huizenga refuses to turn his back on Michigan and US vegetable and fruit growers.  The AEWR must be paused to continue domestic vegetable and fruit production.  The H-2A guest worker program functions pretty well, but the mandated AEWR no longer functions as envisioned.  There is not enough of a domestic workforce left for the AEWR to prevent guest workers taking employment opportunities from the domestic workforce,” said Greg Bird, Executive Director of Michigan’s Vegetable Council.

    “The bipartisan effort to freeze H-2A wages for farmworkers is encouraging to the Michigan Apple industry, with lawmakers from both parties showing an understanding of the unsustainable increases in costs to growers, as well as support for producers of food here in our state and across the country,” said Diane Smith of the Michigan Apple Association. “With labor costs accounting for approximately 56 percent of total production expenses for Michigan Apple growers, the Adverse Effect Wage Rate increases over the last 10 years threaten to put growers out of business.  Most apple growers are losing money at this point – more than $1,800 per acre, as production costs continue to rise. We are so grateful for the continued support of the Michigan congress members, Representative Huizenga and Representative Scholten, who co-lead the effort, as well as other Michigan congress members from both sides of the aisle who have supported agriculture.”

    “Michigan asparagus growers are facing a breaking point under the weight of the skyrocketing Adverse Effect Wage Rate,” said Jamie Clover Adams, CEO of the Michigan Asparagus Association. “Labor already accounts for nearly 60% of our growers’ total costs, and wage hikes—disconnected from market realities—are putting multi-generational family farms and rural economies at risk. We deeply appreciate Congressman Huizenga’s leadership in rallying bipartisan support for an H-2A wage freeze and urge Congress to act swiftly to support farms that grow hand-harvested fruits and vegetables.”

    “An H-2A wage freeze provides cost predictability for our farmers, allowing them to budget and manage labor resources while ensuring they can continue to employ the necessary labor force for crop planting and harvest while a more permanent solution is investigated,” said Kelly Turner, Ed.D, CAE. Manager, Potato Growers of Michigan.

    “Input costs, including labor, continue to rise as farm families struggle in this troubling farm economy. Without immediate action, these conditions threaten the livelihoods of farmers and their employees. Thankfully, members of Congress are willing to support critical relief until durable reforms are achieved. We are grateful for the consistent leadership of Rep. Huizenga and this bipartisan group of legislators who are standing against the status quo.” John Walt Boatright, American Farm Bureau Federation Director of Government Affairs

    “AmericanHort commends Reps. Bill Huizenga (R-MI-04), for leading this bipartisan letter with over 100 Members of Congress requesting to freeze the Adverse Effect Wage Rate (AEWR),” said Ken Fisher, President and CEO, AmericanHort. “As labor and affiliated costs continue to put pressure on our growers and the horticulture industry, placing a freeze on the AEWR will ease the high cost of labor and aid growers in planning for the future.”

    “International Fresh Produce Association members need Congress to rise to the occasion to prevent crippling cost increases that will put farms out of business and Congressman Bill Huizenga is leading the charge to do just that. By addressing the single biggest complaint from H-2A program users – uncontrollable wage labor costs – Congressman Huizenga’s bipartisan appropriations language will provide the relief we need today, while we work together to seek broader program reforms.” Rebeckah Adcock, Vice President, US Government Relations, International Fresh Produce Association

    “Congress’ failure to modernize the H-2A visa program has led to unsustainable, perpetual annual wage increases that are driving American farmers out of business,” said Kasey Cronquist, president of the North American Blueberry Council. “Congressman Huizenga’s bipartisan effort to pause the Adverse Effect Wage Rate is more critical than ever. On behalf of the many blueberry growers across the country who rely on the H-2A program to harvest their crops, we thank every member of Congress who is standing up for American farmers by supporting this appropriations request,” said Kasey Cronquist, President of The North American Blueberry Council (NABC).

    “We greatly appreciate Rep. Huizenga for leading this bipartisan effort to address the single biggest challenge facing apple growers nationwide. The unsustainable cost of the H-2A program is forcing multi-generational family farms to question whether they can keep going, let alone pass their operations on to the next generation. We urge Congress to enact this freeze and pursue common-sense H-2A reforms so we can continue supplying the world with America’s favorite fruit.” Jim Bair, President & CEO, U.S. Apple Association

    “Out of control AEWR increases have made it nearly impossible for custom harvesters to afford the labor necessary to meet the harvest needs of our farmer customers across the country.  Congress needs to act to provide H-2A wage relief as soon as possible,” said Paul Paplow, President U.S. Custom Harvesters Inc.

    “Texas Farm Bureau (TFB) thanks Congressman Bill Huizenga for working in a bipartisan fashion to raise concerns on the skyrocketing Adverse Effect Wage Rate (AEWR) and its impacts on hardworking farm and ranch families,” said TFB President Russell Boening. “While TFB readily recognizes the need for comprehensive long-term H-2A labor reform, a freeze on the AEWR will provide critical short-term relief. If action is not taken, many farmers and ranchers will be forced out of business, putting our national food security at severe risk. We thank all the members of Congress who signed the letter and recognize the direness of the situation. TFB looks forward to our continued work with Congress on agricultural labor reform.”

    Joining Congressman Huizenga on the letter are Representatives: Hillary Scholten (D-MI)[Co-Lead], Rick Crawford (R-AR)[Co-Lead], Patrick Ryan (D-NY)[Co-Lead], Rick Allen (R-GA), Don Bacon (R-NE), Troy Balderson (R-OH), Andy Barr (R-KY), Tom Barrett (R-MI), Michael Baumgartner (R-WA), Cliff Bentz (R-OR), Jack Bergman (R-MI), Sheri Biggs (R-SC), Gus Bilirakis (R-FL), Lauren Boebert (R-CO), Mike Bost (R-IL), Vern Buchanan (R-FL), Kat Cammack (R-FL), Earl Carter (R-GA), Michael Cloud (R-TX), Andrew Clyde (R-GA), Mike Collins (R-GA), James Comer (R-KY), Monica De La Cruz (R-TX), Scott DesJarlais (R-TN), Byron Donalds (R-FL), Neal Dunn (R-FL), Gabe Evans (R-CO), Mike Ezell (R-MS), Pat Fallon (R-TX), Julie Fedorchak (R-ND), Randy Feenstra (R-IA), Brad Finstad (R-MN), Michelle Fischbach (R-MN), Russell Fry (R-SC), Russ Fulcher (R-ID), Craig Goldman (R-TX), Lance Gooden (R-TX), Glenn Grothman (R-WI), Brett Guthrie (R-KY), Mike Haridopolos (R-FL), Pat Harrigan (R-NC), Mark Harris (R-MD), Diana Harshbarger (R-TN), Kevin Hern (R-OK), Clay Higgins (R-LA), J. Hill (R-AR), Erin Houchin (R-IN), Richard Hudson (R-NC), Jeff Hurd (R-CO), Brian Jack (R-KY), Ronny Jackson (R-TX), John James (R-MI), Dusty Johnson (R-SD), John Joyce (R-PA), Mike Kelly (R-PA), Trent Kelly (R-MS), Mike Kennedy (R-UT), Jennifer Kiggans (R-VA), Brad Knott (R-NC), David Kustoff (R-TN), Darin LaHood (R-IL), Doug LaMalfa (R-CA), Nicholas Langworthy (R-NY), Robert Latta (R-OH), Michael Lawler (R-NY), Laurel Lee (R-FL), Barry Loudermilk (R-GA), Frank Lucas (R-OK), Anna Paulina Luna (R-FL), Morgan Luttrell (R-TX), Nancy Mace (R-SC), John Mannion (D-NY), Michael McCaul (R-TX), Addison McDowell (R-NC), John McGuire (R-VA), Mark Messmer (R-IN), Daniel Meuser (R-PA), Mary Miller (R-IL), Max Miller (R-OH), Mariannette Miller-Meeks (R-IA), Cory Mills (R-FL), Barry Moore (R-AL), Blake Moore (R-UT), Nathaniel Moran (R-TX), Gregory Murphy (R-NC), Troy Nehls (R-TX), Ralph Norman (R-SC), Zachary Nunn (R-IA), Gary Palmer (R-AL), August Pfluger (R-TX), Josh Riley (D-NY), Mike Rogers (R-AL), John Rose (R-TN), David Rouzer (R-NC), Maria Salazar (R-FL), Austin Scott (R-GA), Keith Self (R-TX), Pete Sessions (R-TX), Jefferson Shreve (R-IN), Adrian Smith (R-NE), Pete Stauber (R-MN), Elise Stefanik (R-NY), W. Steube (R-FL), Marlin Stutzman (R-IN), Claudia Tenney (R-NY), Shri Thanedar (D-MI), Glenn Thompson (R-PA), William Timmons (R-SC), Jefferson Van Drew (R-NJ), Randy Weber (R-TX), Daniel Webster (R-FL), Bruce Westerman (R-AR), Roger Williams (R-TX), Joe Wilson (R-SC), and Rudy Yakym (R-IN).

    MIL OSI USA News –

    May 30, 2025
  • MIL-OSI: Matador Technologies Inc. Enters Binding LOI to Partner with Indian Digital Asset Product Strategy Firm

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA, OTCQB: MATAF) is pleased to announce that it has entered into a binding letter of intent (“LOI“) to invest in a publicly traded Indian technology company, tentatively named HODL Systems (“HODL”), that implements a treasury strategy which includes investing into digital assets.

    Under the terms of the LOI, Matador will commit to invest up to USD$3,200,000 (“Investment Amount”) in a share warrant structure that would provide Matador up to 24.95% ownership stake in HODL, assuming full exercise of the warrants. This investment aligns with Matador’s strategy to increase its exposure to the global digital asset ecosystem.

    As part of the transaction, Matador also expects to enter into a licensing agreement with HODL in due course to distribute its proprietary digital gold product and other Ordinals technology in the Indian market. The agreement is intended to support Matador’s expansion into new markets within the digital asset sector. Both the LOI and the licensing agreement remain subject to the approval of the TSX Venture Exchange (the “Exchange”), and the investment is subject to Exchange acceptance of the Change of Business.

    The first tranche of the aforesaid warrant investment is expected to close on or before July 10, 2025, subject to customary conditions and regulatory approvals.

    Key Highlights & Strategic Rationale

    • Expansion into the Indian Market: India is a large and growing market for technology and digital assets. This investment allows Matador to establish a foothold in this dynamic region.
    • Balance Sheet Strategy: HODL’s business model aligns with Matador’s broader investment thesis around the adoption of digital assets and the integration of decentralized financial assets.
    • Licensing Agreement for Digital Gold & Ordinals Technology: By bringing its proprietary digital gold product and Ordinals technology to India through HODL, Matador aims to broaden access to its blockchain-based products through this partnership.
    • Capturing a Digitally Native Gold Market: India is the largest private gold-owning country in the world, with households holding more than 25,000 tonnes of gold (World Gold Council). At the same time, over 65% of India’s population is under the age of 35, with a growing middle class increasingly adopting mobile-first, digital investment platforms (UNDP India). Matador and HODL plan to offer blockchain-based investment products tailored to younger, tech-savvy investors in India.
    • Potential for Long-Term Value Creation: Through this investment and licensing arrangement, Matador may participate in HODL’s future growth and expansion into digital asset markets.

    Additional Information from the Letter of Intent

    • Date of Agreement: May 29, 2025 (“Effective Date”)
    • Investment Timelines: 25% of the Investment Amount on or before July 10, 2025, and the remaining 75% of the Investment Amount on or before 18 months from the date of allotment of the share warrants.
    • Valuation Report: HODL will obtain a valuation report from an independent registered valuer, acceptable to Matador, to ensure compliance with applicable regulations and provide transparency in the transaction.
    • Conversion Terms of Share Warrants: The Share Warrants are convertible into equity shares of HODL at a 1:1 ratio at any time within 18 months from the date of allotment, at Matador’s discretion.
    • Conditions of Offer:
      • The board of directors of HODL are expected to accept the LOI as of the Effective Date.
      • As a pre-requisite to the proposed transaction, shareholders of HODL must approve the proposed subscription.
      • The share warrants must be issued and allotted to Matador in dematerialized form within 15 days of shareholders’ approval, which time period may be extended for receipt of regulatory approvals as permitted under law.
      • The post-issue shareholding of Matador will not exceed 24.95% on a fully diluted basis unless waived in writing.

    Deven Soni, CEO of Matador Technologies Inc., commented: “This strategic investment in HODL underscores our commitment to expanding our footprint in high-growth markets and advancing the adoption of digital asset-centric financial strategies. By partnering with HODL, we are poised to deliver innovative digital asset solutions to the Indian market, aligning with our mission to drive global financial inclusion through decentralized technologies.”

    Mark Moss, Chief Visionary Officer of Matador Technologies Inc., commented: “At Matador, we believe the next wave of global financial infrastructure will be built on digital assets. By aligning with HODL, we’re not just expanding geographically—we’re expanding the reach of the digital assets’ ecosystem into a key innovation hub.”

    For additional information, please contact:

    Media Contact:
    Sunny Ray
    President
    Email: sunny@matador.network
    Phone: 647-496-6282

    About Matador Technologies Inc.
    Matador Technologies Inc. is a publicly traded Bitcoin ecosystem company that holds Bitcoin as its primary treasury asset and builds products to enhance the Bitcoin network. Through a self-reinforcing model that combines strategic Bitcoin accumulation, Bitcoin-native product development, and participation in digital asset infrastructure, Matador aims to grow long-term shareholder value without dilution.

    The Company’s flagship offering, the Digital Gold Platform, allows users to buy, sell, and trade 1-gram gold units inscribed as Bitcoin Ordinals—bridging traditional value with decentralized technology. With a Bitcoin-first strategy, a debt-free balance sheet, and a clear focus on innovation, Matador is helping shape the future of financial infrastructure on Bitcoin.

    Cautionary Statement Regarding Forward-Looking Information

    NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

    Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks associated with the implementation of the Company’s treasury management strategy, risks relating to whether the transaction with HODL will be concluded as currently proposed or at all, risks relating to the receipt of applicable regulatory approvals and the launch of the Company’s mobile application as currently proposed or at all. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including with respect to the potential acquisition of digital assets and/or US dollars, the pricing of such acquisitions and the timing of future operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

    The MIL Network –

    May 30, 2025
  • MIL-OSI Africa: Cabinet welcomes progress at sustainable infrastructure development symposium

    Source: South Africa News Agency

    Cabinet has welcomed the successful conclusion of the Sustainable Infrastructure Development Symposium South Africa (SIDSSA) 2025, held in Cape Town, from 26 to 27 May 2025. 

    The two-day symposium brought together government leaders, infrastructure funding representatives, construction sector representatives and technical experts to discuss and share strategies and best practices for infrastructure development in the country. 

    The Symposium saw the unveiling of the country’s second edition of the construction book: “A Repository Of Funded Infrastructure Projects” for procurement in 2025/2026. 

    During the symposium, the new top seven (7) infrastructure project priorities, stemming from Bid Window 1 for project preparation, were announced, uplifting the nation’s drive to use infrastructure to grow the economy, create jobs and build sustainable communities.

    “The total value of projects currently in construction in the country is over R313.5 billion, while our energy sector infrastructure project pipeline includes R180 billion of embedded generation investment,” Minister in The Presidency, Khumbudzo Ntshavheni, said during a post-Cabinet media briefing on Thursday. 

    The new top seven infrastructure priorities for 2025/26 as announced by Infrastructure South Africa (ISA) are:

    • Boegoebaai Port and Rail Development in the Northern Cape;
    • Project Alpha 300MW Gas to Power Project;
    • City of Ekurhuleni Wastewater Conveyance and Treatment System Regionalisation;
    • Coega SEZ 100MW Solar Farm – ground mount;
    • South Africa Water Reuse Programme (WRP);
    • ⁠Regional Energy Infrastructure, Storage and Distribution Programme by Limpopo Energy User Association; and
    • ⁠Gauteng Urban Upgrade Programme, Johannesburg CBD.

    On Tuesday, SAnews spoke to the Minister of Public Works and Infrastructure, Dean Macpherson who said that South Africa is on a path of accelerated progress with infrastructure development fuelling economic growth and job creation. 

    Macpherson cited the second edition of the Construction Book which showcases 250 fully funded infrastructure projects – worth at least R238 billion – as one example of government’s commitment to turning South Africa into a construction site.

    “We are actively putting our money into those projects to ensure that they are prepared on time and on budget and that they have the best chance of success. We heard from the President and his commitment to driving infrastructure growth in the country, the R1 trillion that’s been committed by Minister [Enoch] Godongwana in the budget, record levels of investment in public infrastructure.

    “You can start to see that this country is on the move, that infrastructure is at the heart of our growing economy and job creation plans,” he said. – SAnews.gov.za

    MIL OSI Africa –

    May 30, 2025
  • MIL-OSI Africa: Cabinet affirms its support for the 2025 National Budget

    Source: South Africa News Agency

    Thursday, May 29, 2025

    Cabinet has affirmed its support for the 2025 National Budget tabled by the Minister of Finance on Wednesday, 21 May 2025, which details key spending priorities over the next three years within the country’s fiscal envelope.

    Speaking during a post-cabinet briefing on Thursday, Minister in The Presidency Khumbudzo Ntshavheni said the National Budget has demonstrated government’s commitment to fiscal discipline. 

    “We have shown that we are steering the economy in a way that looks after the most vulnerable in our society, while investing in economic activity through investment of R1 trillion towards infrastructure over the coming three years.

    “This pro-poor budget, means on every Rand, 61 cents of consolidated, non-interest expenditure funds will be spent on free basic services like electricity, water, education, healthcare, affordable housing, as well as social grants for those in need,” the Minister said in Cape Town.

    Finance Minister, Enoch Godongwana, returned to Parliament last week to re-table the 2025 Budget Review. 

    This decision follows the Minister’s recent announcement and subsequent request to the Speaker of the National Assembly to maintain the Value-Added Tax rate at its current level of 15 percent, reversing the previously proposed 0.5 percentage point increase presented in the 12 March budget.

    The National Treasury previously said that the revised budget will adhere to all established technical processes and consultations as set out in the Money Bills and Related Matters Act.

    This includes formal consultations with the Financial and Fiscal Commission, thorough consultations with all political parties within the Government of National Unity as well as Cabinet approval before presentation to Parliament.  – SAnews.gov.za

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    MIL OSI Africa –

    May 30, 2025
  • MIL-OSI Africa: Deputy President calls for national dialogue to address SA’s challenges

    Source: South Africa News Agency

    South Africa is encountering significant challenges that demand an immediate national dialogue. 

    This is according to the Deputy President Paul Mashatile, who responded to oral questions from Members of Parliament in the National Council of Provinces (NCOP) in Cape Town, on Thursday afternoon. 

    The Deputy President addressed questions regarding issues related to South Africa’s Social Cohesion Index (SASCI) research report, and the planned national dialogue.

    During a question-and-answer session about the 2024 SACSI, the Deputy President highlighted the country’s achievements over 30 years of democracy, while acknowledging significant ongoing challenges.

    The study indicated that the most notable decline was in the cohesion dimension, which pertains to respect for social rules.

    Trust in institutions and perceptions of fairness have weakened, while levels of solidarity and helpfulness have remained stable. 

    However, civic participation and general trust in others have shown slight improvements.

    “SASCI research report offered us a sense of where we stand as a country in our collective journey towards coercion and nation building equally, the index offers valuable insights into the nation’s strength and challenges, highlighting areas of progress and those requiring urgent attention,” he told MPs. 

    Guided by the index, he said, government is now developing targeted strategies and policies that promote inclusivity, equity and tolerance amongst all citizens, thereby enhancing society’s overall wellbeing.

    He also welcomed the report’s observation that South Africa has made significant strides towards building a united, non-racial and non-sexist society and improving the lives of all its people.

    “In this regard, we have worked together to establish a progressive constitutional order, expand access to social infrastructure and services to millions of people and set our economy on a path of reform.” 

    Despite the considerable progress, South Africa has achieved in creating a society that is both non-racial and non-sexist. 

    The Deputy President believes the country is currently at a critical juncture.

    He said the persistent economic challenges, social discontent, and historical inequalities, continue to pose significant obstacles.

    “The political environment is conflictual. The economy is not growing fast enough. Poverty is widespread, and there is a growing sense of social discontent and alienation. It is time to reset and reimagine our country for posterity. This must be done by South African citizens themselves through a process of purpose-directed, [and] courageous conversations.”

    According to the Deputy President, government plans to initiate a comprehensive national dialogue focusing on key areas. 

    “Hence, they envisage a national dialogue that will focus on the following critical areas.”

    The key focus will be economic transformation, inclusion and empowerment, poverty, inequality, and hunger. 

    In addition, the dialogue will zoom in on governance and a capable, ethical developmental state, addressing crime and lawlessness, promoting nation-building and social cohesion, and advancing constitutional rights and principles. 

    The platform will also involve encouraging progressive values, such as moral regeneration, participatory democracy, and active citizenry.

    In addition, addressing land reform and food security is a top priority on the agenda.

    “Honourable Chairperson, in addition to these critical matters, we are also addressing social ills such as gender-based violence and femicide (GBVF), racism, crime, and corruption in support of promoting and strengthening social cohesion.”

    Meanwhile, he said government remains committed to implementing transformative legislation, including Black Economic Empowerment policies and land reform initiatives. 

    The Deputy President stressed that any changes to existing laws, must go through proper parliamentary processes.

    The address signals the government’s intention to address social cohesion through targeted strategies, community dialogues, and a renewed focus on constitutional principles and inclusive development. – SAnews.gov.za
     

    MIL OSI Africa –

    May 30, 2025
  • MIL-OSI Africa: Employment Services Amendment Bill approved for submission to Parliament

    Source: South Africa News Agency

    Thursday, May 29, 2025

    Cabinet has approved the Employment Services Amendment Bill for submission to Parliament, at its meeting held in Cape Town on Wednesday.

    The Bill provides a policy framework and the legal basis to regulate the employment of foreign nationals in businesses while promoting national security and national interests.

    Addressing the media in Cape Town this morning, Minister in the Presidency Khumbudzo Ntshavheni said the purpose of the Bill is to propose the regulation of labour brokers to prevent worker exploitation, such as the provision of cheap labour through undocumented foreign nationals. 

    “It further creates consistency between the provisions of the Immigration Act, (Act 13 of 2002) and the Refugees Act (Act 130 of 1998),” Ntshavheni said.

    She said the Bill proposes a framework that will enable the Minister of Employment and Labour to set quotas for the employment of foreign nationals. 

    “A quota may apply in respect of a sector of the economy, an occupational category or a geographical area. The Minister will establish a quota in a sector after consulting the Employment Services Board and considering public comments.

    “Cabinet directed the Minister of Employment and Labour to speedily finalise the mapping (through consultations) of what constitutes scarce and critical skills in order to develop a domestic skills base to improve absorption of more unemployed South Africans,” Ntshavheni said.

    The Minister said Cabinet has reiterated the need to fast-track the finalisation of the White Paper on Immigration for the effective administration and management of labour migration. – SAnews.gov.za

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    MIL OSI Africa –

    May 30, 2025
  • MIL-OSI Africa: Reserve Bank cuts repo rate by 25 basis points

    Source: South Africa News Agency

    The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) has decided to reduce the repo rate by 25 basis points, with effect from 30 May.

    This reduces the prime lending rate from banks to 10.75 %. 

    Five members favoured this action, while one preferred a cut of 50 basis points.

    “Looking forward, we have revised down our inflation forecasts. This reflects the lower starting point, as well as a stronger exchange rate assumption and lower world oil prices. 

    “These factors offset pressure on fuel costs from the higher fuel levy announced in the Budget. In addition, our previous forecast included VAT increases, which have since been cancelled,” SARB Governor Lesetja Kganyago said on Thursday, while delivering the Monetary Policy Committee statement.

    The inflation was below 3% again in April. The undershoot of the target mainly reflects falling fuel costs, but underlying inflation is also well contained. Core inflation came in at 3%, at the bottom of SARB target range.

    “Now that inflation has slowed, we have a chance to lock in lower inflation at low cost. This scenario illustrates that opportunity,” Kganyago said.

    While the inflation outlook appears benign, the MPC considered an adverse scenario, which illustrates the upside risks. 

    “This was based on a global slowdown, triggered by escalating trade tensions, where the rand depreciates sharply. The scenario showed how a country with some fundamental vulnerabilities, like South Africa, risks stagflation, with growth moving lower while inflation rises due to currency weakness. In these conditions, monetary policy tightens to stabilise the macroeconomy.

    “The threat of rand depreciation that we warned of at our last meeting, given both global and domestic factors, manifested last month, with the currency briefly touching a multi-year low against the US dollar. However, the exchange rate has since recovered, and conditions seem more settled than they did in March, even if the global environment remains uncertain,” he said.

    The Gross Domestic Product (GDP) projections were trimmed and the growth was currently expected at 1.2% this year, rising to 1.8% by 2027.

    “The global environment remains difficult, which makes domestic reform critical for achieving healthy growth. The SARB’s main contribution is to deliver price stability, and we see scope to lock in low inflation and clear the way for sustainably lower interest rates. 

    “Additional measures that would improve economic conditions include reaching a prudent public debt level, further repairing and strengthening network industries, lowering administered price inflation, and keeping real wage growth in line with productivity gains,” Kganyago said. – SAnews.gov.za

    MIL OSI Africa –

    May 30, 2025
  • MIL-OSI Africa: Cabinet approves National Labour Migration Policy 2025 White Paper

    Source: South Africa News Agency

    Cabinet has approved the National Labour Migration Policy (NLMP) White Paper 2025 for implementation, marking a significant step in regulating the movement and employment of foreign nationals in South Africa.

    Speaking during a post-Cabinet media briefing on Thursday, Minister in The Presidency Khumbudzo Ntshavheni explained that the policy seeks to provide a framework to enforce proper and orderly movement and employment of foreign nationals in the country. 

    “It aims to achieve a balance across several areas, including addressing South Africans’ expectations for job prospects, in light of rising unemployment and the perception that foreign nationals restrict labour market access,” the Minister said. 

    The NLMP introduces quotas on the total number of documented foreign nationals with work visas that can be employed in major economic sectors such as agriculture, hospitality and tourism, as well as construction, among others. 

    “The policy complements other interventions such as enforcement of a list of sectors where foreign nationals cannot be allocated business visas and amendments to the National Small Enterprise Act, 1996 (Act 102 of 1996), as amended, to limit foreign nationals establishing small, medium and micro enterprises, and trading in some sectors of the economy,” Cabinet explained.

    What is the policy all about?

    The NLMP is the first comprehensive National Labour Migration Policy aimed at managing labour migration both into and out of the country. 

    The policy is designed to promote a “brain gain” by attracting skilled workers to South Africa, while also addressing the “brain drain” caused by the emigration of skilled professionals.

    The Employment Services Amendment Bill goes hand-in-hand with the NLMP and has been created to make it legal for the government to regulate the employment of immigrants in South African businesses.

    One of the bill’s more contentious features is the potential introduction of employment quotas, which would limit the number of immigrants that businesses can hire and require employers to prioritise the hiring of South African citizens. – SAnews.gov.za

    MIL OSI Africa –

    May 30, 2025
  • MIL-OSI USA: U.S. Energy-Related Carbon Dioxide Emissions, 2024

    Source: US Energy Information Administration

    This report highlights notable trends in energy-related carbon dioxide (CO2) emissions in the United States in 2024, based on preliminary data.

    U.S. energy-related CO2 emissions declined overall by less than 1%, or 23 million metric tons (MMmt), in 2024. Among end-use sectors, the most notable decreases occurred in the residential and industrial sectors. Lower residential sector emissions were mostly due to decreases in consumption of natural gas and petroleum products primarily associated with space heating—mainly propane and distillate fuel oil. Decreases in industrial-sector emissions were associated with reduced manufacturing.

    Emissions from the commercial, transportation, and electric power sectors remained relatively unchanged but are discussed in greater detail in later sections.

    Table 1. Total U.S. energy-related CO2 emissions by sector, 2020–2024
    million metric tons of carbon dioxide
    Sector 2024 2023 2022 2021 2020
    Residential 303 313 340 325 319
    Commercial 247 249 260 245 233
    Industrial 947 962 960 977 953
    Transportation 1,848 1,851 1,842 1,807 1,630
    Electric power 1,427 1,421 1,539 1,553 1,450
    Total 4,772 4,795 4,940 4,906 4,585
    Data source: U.S. Energy Information Administration, Monthly Energy Review, March 2025, Tables 11.1–11.6
    Note: Totals may not equal sum of components due to independent rounding.

    Figure data

    Electric power emissions remained flat as decreasing CO2 from coal generation offset increasing CO2 from natural gas

    CO2 emissions from the electric power sector remained mostly flat in 2024, increasing by less than 1% (6 MMmt). Although overall electricity generation increased by 3%, or 122 terawatthours (TWh), in 2024, changes in generation sources resulted in sectoral CO2 emissions remaining near 2023 levels. Specifically:

    • CO2 emissions from coal-fired generation decreased by 3% (24 MMmt), but:
      • CO2 emissions from natural gas-fired generation increased by 4% (31 MMmt)
    • Coal-fired electricity generation fell by 3% (22 TWh), but:
      • Natural gas generation increased by 3% (59 TWh)
      • Solar generation increased by 32% (53 TWh)
      • Wind generation increased by 8% (32 TWh)

    Although growth in natural gas-fired generation exceeded reductions in coal-fired generation, CO2 emissions did not increase as much because natural gas emits less CO2 per kilowatthour than coal when combusted.

    Figure data

    Warmer late-winter and early-spring weather led to lower residential sector emissions

    Residential sector CO2 emissions declined 3% (10 MMmt) in 2024, as demand for heating decreased with relatively warm weather during late-winter and early-spring months. U.S. population-weighted heating degree days (HDDs), a measure of how cold a location is, decreased by 3% last year. Consequently, consumption of natural gas, propane, and distillate fuel oil declined, which are all key fuels in residential space heating.

    Warmer weather also led to increased demand for space cooling during warmer months. Cooling degree days (CDDs), a measure of how hot a location is, increased by 10% in 2024. However, unlike space heating, space cooling relies on electricity rather than direct use of fuels. As summer temperatures increased relative to 2023, residential sector electricity use rose. Annual purchases of electricity increased by 3%, and emissions associated with residential electricity consumption increased by 1% (5 MMmt). Overall, total residential sector emissions were lower because the decline in CO2 emissions from lower heating fuel consumption outweighed increases associated with cooling demand.

    Weather-related impacts on energy consumption and CO2 emissions in the commercial sector mirrored the residential sector but to a lesser extent. Commercial sector emissions remained effectively flat in 2024, decreasing by only 2 MMmt, as a result of lower natural gas and petroleum consumption.

    Figure data

    Industrial CO2 emissions decreased in 2024 as industrial production growth slowed

    CO2 emissions from the U.S. industrial sector decreased by 1% (14 MMmt) in 2024. Decreased emissions were mostly related to a 15% (7 MMmt) decrease in petroleum coke consumption and a 6% (5 MMmt) decrease in coal consumption. Declining emissions from these fuels is associated with minor declines in industrial activity, such as manufacturing of primary metals.

    Figure data

    Transportation sector emissions remain unchanged as increased consumption of some petroleum products offset decreases in others

    U.S. transportation sector emissions remained virtually unchanged in 2024. CO2 emissions from motor gasoline and jet fuel increased slightly, following the trend from 2023, but were more than offset by decreases in CO2 emissions from distillate fuel oil.

    CO2 emissions from motor gasoline increased by less than 1% (3 MMmt) in 2024. Despite steady increases in vehicle miles traveled, motor gasoline emissions have generally declined modestly over the last 20 years (Figure 5). These decreases in motor gasoline emissions are mostly due to higher vehicle fuel economy standards and, to a lesser extent, increased deployment of electric vehicles. Jet fuel emissions increased by 3% (7 MMmt) in 2024, mostly associated with increased air travel.

    Higher motor gasoline and jet fuel emissions were more than offset by declining emissions from distillate fuel oil, which fell by 3% (15 MMmt) in 2024. Distillate consumption declined because on-road diesel vehicles consumed less and, to a lesser extent, conventional diesel fuel was substituted for renewable diesel.

    Figure data

    We based our analysis of U.S. energy-related CO2 emissions in this report on data published in our Monthly Energy Review (MER). This initial analysis is based on preliminary 2024 data first published in the March 2025 edition of the MER. These values are subject to change as final data are published from underlying sources, according to source data revision policies and publication schedules. We expect relatively minor differences between the preliminary and revised estimates based on past years (Table 2). Supplemental analysis, figures from past reports, and a discussion of the methodology and terminology used in this report are available in the Appendix.

    Table 2. Preliminary and revised U.S. energy-related CO2 emissions estimates, 2018–2023
    Year Preliminary CO2 estimates
    (million metric tons)
    Revised CO2 estimates
    (million metric tons)
    Difference
    (million metric tons)
    Percentage difference
    2018 5,274 5,269 -5 -0.1%
    2019 5,138 5,149 11 0.2%
    2020 4,571 4,575 4 0.1%
    2021 4,870 4,904 34 0.7%
    2022 4,970 4,941 -29 -0.6%
    2023 4,807 4,791 -16 -0.3%
    Data source: U.S. Energy Information Administration, Monthly Energy Review, Tables 11.1–11.6, March and September editions, 2019–2024

    Emissions values and analysis presented in this report pertain only to U.S. CO2 emissions associated with fossil-fuel combustion and non-combustion applications of energy products (for example, as industrial feedstocks). We do not include estimates of CO2 emissions outside this scope or other greenhouse gas emissions burned or released in production, extraction, or distribution of energy products. Our approach may result in discrepancies between our emissions estimates and those of other organizations, including other U.S. government agencies.

    In addition to historical estimates, we also offer short-term forecasts and long-term projections of U.S. energy-related CO2 emissions in several other data products. You can find a short-term forecast of U.S. energy-related CO2 emissions and key drivers in our monthly Short-Term Energy Outlook, which includes monthly forecasts by fuel source currently through the end of 2026 and the latest estimates of the effects of recent events on energy markets and energy-related CO2 emissions. We publish long-term U.S. emissions projections in our Annual Energy Outlook, which provides annual projections of energy-related CO2 emissions by fuel source, sector, and end use through 2050. Projections of international energy-related CO2 emissions through 2050 are available in our International Energy Outlook.

    MIL OSI USA News –

    May 30, 2025
  • MIL-OSI USA: CFTC Adds 43 Unregistered Foreign Entities to RED List

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — As part of the Commodity Futures Trading Commission’s ongoing efforts to help protect Americans from fraud, today the CFTC added 43 unregistered foreign entities to its Red List, a tool that provides information to U.S. market participants about foreign entities that are acting in an unregistered capacity and to help them make more informed decisions about trading. The Red List, which stands for Registration Deficient List, launched in 2015 [See CFTC Press Release No. 7224-15], and now contains almost 300 entities.
    A firm is added to the RED List when the CFTC determines, from investigative leads and questions from the public, that it is not registered with the Commission and appears to be acting in a capacity that requires registration, such as trading binary options, foreign currency (forex), or other products. The Commodity Exchange Act generally requires intermediaries in the derivatives industry to register with the CFTC. An “intermediary” is a person or firm that acts on behalf of another person in connection with trading futures, swaps, or options. Depending on the nature of its activities, an intermediary may also be subject to various financial, disclosure, reporting, and recordkeeping requirements. There are some exceptions or exemptions where an intermediary does not require registration.
    The RED List is circulated to financial industry partners, including other regulators, consumer groups, industry participants, self-regulatory organizations, exchanges, and industry associations. It complements registration information provided by the National Futures Association. 

    Abnas Global Corp.
    Abnas Global Securities Co. Ltd. 
    Abnas Global PLC
    abnasglobal.cc
     

    OX Securities Pty LtdOX Securities Limited (SV) 
    oxsecurities.com
     

    Apex Number 
    apexnumber.com

    PO Trade Ltd
    m.po.life
     

    BF Traders
    G-P Ltd.
    bftraders.com
     
     

    Prowins Binary
    www.prowins.live

    Binary Golden Options 
    bnrygoldenopts.com
     

    Smart Magnetic Ltd.
    smartmagnetic.net [email protected]
     

    Blueberry Markets 
    blueberrymarkets.com
     

    Stealth Finex
    stealthfinex.com [email protected]
     

    ElixirVest Ltd. 
    elixirvest.com

    StocktrademarketX
    Stocktrademarketx.com
     

    Equity Price Ltd. 
    equityprice.live
     

    SublimeFX
    sublimefx.comsublimefx.ca
     

    Firephoenix.com 
    [email protected]
     

    SunFX Investment Company 
    sunfx.org

    Forex4Money Trading Ltd.Forex International Gain
    forex4money.com
     

    Sway Markets
    swaymarkets.com

    ForexcellForexcellsForeXcells MKT LimitedForexcells M Group LLCForexcells Markets Ltd.AbileXAG
    forcexcells.com
     

    SwipeCoin
    swipecoin.live

    Global Buck Invest 
    globalbuckinvest.com
     

    Trade Xtix Coins Ltd. 
    tradextixcoins.com

    Global Official Trade 
    Globalofficialtrade.com

    TradeplugxTradeplugx Capital Group 
    trustplusfx.com
     

    Hotbglobal Finance Limited
    www.hotbgl.io
     

    TruBlueFX
    TruBlue FX
    Ares Global Ltd.  
    trubluefx.biz
     

    NASDAQK Limited
    nasdaqkfx.com
     

    trustplusfx.net  
    trustplusfx.net

    Optimaltradeinfo
    optimaltradeinfo

    UltimateStock
    ultimatestock.org

    See the complete list at https://www.cftc.gov/LearnAndProtect.
    The following CFTC staff members are responsible for the RED List: the Office of Customer Education and Outreach staff, and Division of Enforcement staff Michelle Bougas, and Rick Glaser, as well as former staff Erica Bodin.
    *  *  * *  *  *  *
    See CFTC’s Binary Options Customer Fraud Advisory
    The CFTC has issued a Consumer Alert to warn about fraudulent schemes involving binary options and their trading platforms.  The Alert warns customers that the perpetrators of these unlawful schemes typically refuse to credit customer accounts, deny fund reimbursement, commit identity theft, and manipulate software to generate losing trades.
    Customers can report suspicious activities or information, such as possible violations of commodity trading laws, to the CFTC Division of Enforcement via a Toll-Free Hotline 866-FON-CFTC (866-366-2382) or file a tip or complaint online.

    MIL OSI USA News –

    May 30, 2025
  • MIL-OSI Africa: International Islamic Trade Finance Corporation (ITFC) and Société Internationale des Hydrocarbures de Djibouti (SIHD) Strengthen Djibouti’s Hydrocarbon Sector through Capacity-Building Training Workshops

    Source: Africa Press Organisation – English (2) – Report:

    DJIBOUTI CITY, Djibouti, May 29, 2025/APO Group/ —

    The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), the trade finance arm of the Islamic Development Bank (IsDB) Group, in collaboration with its longstanding partner, the Société Internationale des Hydrocarbures de Djibouti (SIHD), has successfully conducted two back-to-back training workshops aimed at strengthening operational efficiency within Djibouti’s hydrocarbon sector. In total, 20 participants benefited from this initiative, demonstrating a commitment to both technical excellence and gender inclusion

    The first workshop, themed “Sales and Supply Chain Management”, took place from 8th to 10th April 2025 and addressed key issues including the optimization of procurement strategies and the development of competitive pricing models. The second workshop, held from 15th to 17th April 2025, focused on “Profitability Study and Risk Analysis of Downstream Oil Projects”, covering investment evaluation and corporate purchasing processes. These sessions were conducted by IFP Training, experts in the provision of professional development and capacity-building in energy and process industries. 

    Through this partnership, ITFC and SIHD aim to empower professionals with the essential skills and tools to strengthen procurement strategies in the petroleum sector, implement competitive export pricing, effectively evaluate investments and manage large-scale projects, enhance leadership and team supervision, and improve compliance and efficiency within public procurement processes. These training workshops form part of broader efforts to align with Djibouti Vision 2035, the nation’s long-term development strategy aimed at positioning Djibouti as Africa’s leading trade and logistics hub. 

    Over the years, ITFC has maintained a strong and prevailing partnership with the Republic of Djibouti, approving a total of US$1.6 billion across 33 operations, primarily focused on the energy and health sectors. This program is in line with ITFC’s integrated approach to Trade Finance and Development which reaffirms ITFC’s vision of a leading trade solutions provider for its member countries. 

    MIL OSI Africa –

    May 30, 2025
  • MIL-OSI USA: Warren, MA Delegation Sound Alarm on Trump Admin Attacks on International Students at Harvard and Nationwide

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    May 29, 2025
    Letter follows recent DHS attempts to terminate Harvard’s ability to enroll international students on F-1 and J-1 visas
    Massachusetts hosts over 80,000 international students, who contribute almost $4 billion to state economy and support over 35,000 jobs in the state
    “The Administration’s apparent hostility to international students contributes to an overall climate of fear on campuses. This trend creates a chilling effect that discourages the best and brightest students from around the world from coming to study in the United States…” 
    Text of Letter (PDF)
    Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.) led Massachusetts’ Congressional delegation in pressing Secretary of Homeland Security Kristi Noem, Secretary of State Marco Rubio, and U.S. Immigration and Customs Enforcement (ICE) Acting Director Todd Lyons on the Trump Administration’s attacks on international students, particularly last week’s attempt to terminate Harvard University’s ability to enroll international students on F-1 and J-1 visas. 
    The letter was signed by U.S. Senator Ed Markey (D-Mass.), along with Representatives Richard Neal (D-Mass.), Jim McGovern (D-Mass.), Lori Trahan (D-Mass.), Jake Auchincloss (D-Mass.), Katherine Clark (D-Mass.), Seth Moulton (D-Mass.), Ayanna Pressley (D-Mass.), Stephen Lynch (D-Mass.), and Bill Keating (D-Mass.).
    “As members of the Massachusetts congressional delegation, we are gravely concerned about the Trump Administration’s attacks on international students,” wrote the lawmakers. “This trend has been particularly damaging for Massachusetts, which is home to one of largest concentrations of higher education institutions and hosts over 80,000 international students, who contribute almost $4 billion to the state’s economy and support over 35,000 jobs in the state.”
    Last week, the Department of Homeland Security (DHS) revoked Harvard’s certification in the Student and Exchange Visitor Program (SEVP), the system that allows the university to admit international students — not only blocking Harvard’s ability to enroll new international students, but also interfering with current international students’ ability to legally remain. In effect, this action would allow DHS to arrest, detain, and deport international students who remain at Harvard. Shortly thereafter, a federal judge temporarily enjoined DHS from enforcing the revocation.
    “This attack on Harvard and its international students appears to be an attempt to punish the university for not agreeing to the Trump Administration’s April 2025 demands,” wrote the lawmakers.
    This is the latest in the Trump Administration’s long pattern of attacks on international students nationwide. Starting in March, the Administration effectively terminated the legal status of over 4,700 international students across at least 48 states and 160 colleges. Often without notice to students or their universities, ICE terminated students’ records in the Student and Exchange Visitor Information System (SEVIS) — records that are “functionally equivalent to having lawful student status” — which exposed students to the “risk of arrest, detention, or removal.” The State Department also revoked many visas, adding to widespread confusion about students’ legal status.
    “While DHS and the State Department claimed to target those with a criminal history or history of engaging in campus protests,  some of the impacted students had neither, and in many cases, there was ‘no obvious cause for the revocations,’” wrote the lawmakers.
    International students in Massachusetts and nationwide continue to face serious threats, even beyond Harvard’s campus, including: ICE expanding its authority for terminating SEVIS records; not restoring — or re-terminating — students’ legal status; and leaving problematic gaps in records of students’ legal status. Some students who left the country after their visas or records were suspended face significant hurdles to returning. This week, the State Department reportedly ordered its overseas embassies and consulates to stop scheduling any international student visa interviews, causing serious delays.
    “The Administration’s apparent hostility to international students contributes to an overall climate of fear on campuses. This trend creates a chilling effect that discourages the best and brightest students from around the world from coming to study in the United States — which harms not only current and prospective international students, but also American universities, U.S. citizen students on campuses, and, in the long term, the nation’s prosperity and economic growth,” concluded the lawmakers.

    MIL OSI USA News –

    May 30, 2025
  • MIL-OSI USA: ICYMI: Warren Presses Trump Trade Officials’ Prioritizing Big Tech-Friendly Trade Deals at Expense of Everyday Americans

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    May 29, 2025
    “The White House’s negotiations so far appear to be focused on securing advantages for Trump and his tech billionaire friends, rather than for American families.”
    “I am gravely concerned renegotiated trade deals will be used to advance Big Tech’s anti-consumer agenda while doing nothing to promote U.S. manufacturing or help American workers.”
    Text of Letter (PDF)
    Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.) wrote to Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and United States Trade Representative (USTR) Jamieson Greer, raising concerns that the Trump Administration is using bilateral trade negotiations to advance the interests of Big Tech monopolists at the expense of everyday Americans.
    “Big Tech firms have long sought to use trade deals to undermine pro-consumer, pro-competition policies,” wrote Senator Warren. “And now, given their massive donations to President Trump’s inauguration committee, the prime seats given to their CEOs at his inaugural address, and their success in lobbying for exemptions from the Administration’s chaotic tariff policy, I am gravely concerned renegotiated trade deals will be used to advance Big Tech’s anti-consumer agenda while doing nothing to promote U.S. manufacturing or help American workers.
    Last month, the Trump Administration announced indiscriminate “reciprocal” tariffs on most countries, causing consumer confidence to plummet and the U.S. economy to shrink for the first time in three years. To deflect from this economic chaos, President Trump temporarily reduced the tariff rates and claimed that the unprecedented tariffs were a bargaining chip to bring other nations to the negotiating table — where the United States could renegotiate deals to eliminate “tariff rates and non-tariff barriers.” As a result, the Administration is engaged in new trade negotiations with dozens of countries around the world.
    Big Tech appears to be continuing its years-long campaign to use trade negotiations to advance its own interests — now with a boost from the Trump Administration. During his announcement of the reciprocal tariff regime, President Trump held up the 2025 National Trade Estimates report as his “special book” on non-tariff trade barriers. The 2025 report included as targets — potentially at Big Tech’s behest — several tech-related pro-consumer and pro-competition policies. Last month, USTR tweeted a list of “10 unfair digital trade practices” to target for elimination, including the European Union’s Digital Markets Act and Digital Services Act and other policies that Big Tech had urged USTR to target. The State Department is also pressing the European Union to roll back tech regulations.
    “The White House’s negotiations so far appear to be focused on securing advantages for Trump and his tech billionaire friends, rather than for American families,” wrote Senator Warren. 
    Big Tech has long tried to shape international trade agreements to include provisions that could threaten American laws and regulations that protect workers, consumers, and small businesses. Sen. Warren previously pressed the issue with the Biden administration.
    “Big Tech companies have already successfully used their influence to secure special exemptions from tariffs and hide the true cost of President Trump’s chaotic trade policies,” wrote Senator Warren. “Now, these same companies are poised to exploit trade negotiations to thwart much-needed regulations at home and abroad. While small businesses and households continue to bear the brunt of the Administration’s punishing trade policy, the wealthiest Americans and largest corporations stand to benefit.”

    MIL OSI USA News –

    May 30, 2025
  • MIL-OSI USA: Sherrill Attends Ribbon Cutting for Green Affordable Housing Development, After Securing Millions In Federal Funding for the Project

    Source: United States House of Representatives – Congresswoman Mikie Sherrill (NJ-11)

    LIVINGSTON, NJ — Yesterday, Representative Mikie Sherrill attended the ribbon cutting ceremony for The Forum at Madison, a first-of-its-kind energy-efficient affordable housing project in New Jersey—which received over $2 million in Community Project Funding in FY2023.

    These 44 rental apartments are not only affordable, they are also a landmark for clean energy in the Garden State. This is the first multi-family affordable housing development in New Jersey to meet Passive House and Net Zero Energy standards. That means lower utility bills for families, reduced carbon emissions, and a healthier, more resilient community.

    “Projects like this don’t happen in a vacuum. They happen because of strong local leadership, deep collaboration, and a shared commitment to ensure families in our community have a place to call home,” said Rep. Sherrill. “’I’m proud that we were able to bring back New Jerseyans’ hard-earned tax dollars to secure funding for this Community Project. Housing that is affordable plays a crucial role in easing the financial burden on middle-class families, making it possible for them to keep more of what they’ve earned and invest in their futures.”

    ###

    MIL OSI USA News –

    May 30, 2025
  • MIL-OSI Economics: App Store in the U.S. facilitated $406B in developer billings and sales in 2024

    Source: Apple

    Headline: App Store in the U.S. facilitated $406B in developer billings and sales in 2024

    May 29, 2025

    UPDATE

    App Store in the U.S. facilitated over $400 billion in developer billings and sales in 2024

    For more than 90 percent of billings and sales facilitated by the App Store, developers did not pay any commission to Apple

    Earnings of U.S. developers more than doubled in the last five years

    Apple today announced the App Store ecosystem in the U.S. facilitated $406 billion in developer billings and sales in 2024, according to a study conducted by Professor Andrey Fradkin from Boston University Questrom School of Business and economist Dr. Jessica Burley from Analysis Group. Importantly, for more than 90 percent of the billings and sales facilitated by the App Store, developers did not pay any commission to Apple.

    Over the last five years, the size of the App Store ecosystem has nearly tripled from $142 billion in 2019 to $406 billion last year, and earnings for U.S.-based developers also more than doubled. Small developers in particular have done exceptionally well as their earnings increased by 76 percent between 2021 and 2024.

    “For more than 15 years, the App Store has created incredible opportunity for app developers, entrepreneurs, and businesses of all sizes,” said Tim Cook, Apple’s CEO. “That includes the many U.S. developers who are innovating, building their businesses, and finding exceptional success on the App Store. We’ll continue to invest in powerful tools, technology, and resources to help developers in the U.S. and around the world take their apps to new heights and create transformative experiences for users.”

    Strong Growth Across App Categories

    Since its launch in 2008, the App Store has been a great business opportunity for developers. The new study estimates that in 2024 the App Store ecosystem facilitated $277 billion in total billings and sales from physical goods and services, $75 billion from in-app advertising, and $53 billion from digital goods and services. Key drivers included growth in food and grocery delivery, entertainment, and enterprise apps. And the App Store continues to be a global launchpad for innovation, with AI-powered apps increasingly shaping users’ daily lives.

    Since 2019, spending on physical goods and services has more than tripled, while in-app spending on digital goods and services and in-app advertising more than doubled. In the physical goods and services category, general retail spending and grocery delivery increased more than fourfold. By 2024, spending on travel and food delivery and pickup both surpassed ride hailing, with users increasingly turning to apps to book travel, and restaurants increasingly offering delivery options through apps. U.S. developers also saw their earnings grow across top categories like productivity, education, and business, with the games category seeing the highest earnings in 2024.

    Global Reach for U.S. Developers

    U.S. developers have also found tremendous success globally, with the ability to list their apps on storefronts in 175 countries and regions. The support of the App Store’s seamless payment and commerce system has made it easy for these developers to monetize their apps in the U.S. and around the world. Many apps from U.S. developers have also appeared on the most-downloaded app charts in storefronts outside of the U.S. and ranked among the Top 5 most-downloaded apps in 170 out of 175 App Store storefronts.

    The App Store remains a safe and trusted marketplace for users, thanks to Apple’s rigorous App Review process and robust privacy and security protections. In a recent report, Apple found that the App Store prevented more than $9 billion in fraudulent transactions over the last five years, and it also rejected 1.9 million app submissions in 2024 for failing to meet Apple’s standards for security, reliability, and user experience.

    Developers in the U.S. Have an Increasing Number of Incredible Resources Available from Apple

    Apple continues to invest in App Store features that make it easier for developers to distribute their apps and games and get discovered across the storefront. This includes continued investments to App Store Connect, which provides developers with tools and technologies to track app performance and engagement through App Analytics, enhancements to StoreKit, custom product pages, and new features like App Store Accessibility Nutrition Labels, available to developers later this year.

    Designed to accelerate innovation and help propel app businesses forward, initiatives like the App Store Small Business Program support the next generation of groundbreaking apps by small developers like Slopes. Originally launched as a passion project by a solo developer, Slopes has now achieved international success and is trusted by over 5 million skiers and snowboarders. This app is designed for winter sports enthusiasts, enabling them to track and record their personal stats, locate friends on the mountain, and explore interactive resort maps. The team behind Slopes has integrated with many Apple technologies, including HealthKit, Live Activities, and ARKit, as well as expanding to Apple Watch.

    Apple also offers developers a variety of online and in-person programs to support them in elevating their apps, including Meet with Apple. The Apple Developer Center in Cupertino also serves as home to year-round activities, and offers a supportive environment for developers to improve their apps through more than 250,000 APIs including as part of frameworks such as HealthKit, Metal, Core ML, MapKit, and SwiftUI. Resources like Pathways and Apple Developer Forums are available to better connect developers within the community and help them easily access tools, documentation, and videos to create their best products on Apple’s platforms.

    Apple launched its first U.S.-based Apple Developer Academy in Detroit in 2021 in collaboration with Michigan State University to help students build foundational skills in coding, AI, design, and marketing. Since its launch, the academy has trained over 1,200 students. Separately, more than 900 students have also participated in the Apple Foundation Program, an intensive four-week course that teaches students the fundamentals of app development at the academy and Henry Ford College.

    Apple supports more than 2.9 million jobs across the U.S. through direct employment, work with U.S.-based suppliers and manufacturers, and developer jobs in the thriving iOS app economy.

    Press Contacts

    Apple Media Helpline

    media.help@apple.com

    MIL OSI Economics –

    May 30, 2025
  • MIL-OSI Russia: Vladimir Stroyev joined the presidium of the International Movement for Financial Security

    Translation. Region: Russian Federal

    Source: State University of Management – Official website of the State –

    On May 27, 2025, within the framework of the 42nd Plenary Week of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG), the 22nd meeting of the Council of the International Network Institute in the field of AML/CFT and the conference of the International Movement for Financial Security were held with the participation of the management, teachers and students of the State University of Management, headed by Vice-Rector Dmitry Bryukhanov.

    In 2025, GUU officially joined the International Movement for Financial Security, created on the initiative of a student from Brazil, Augusto Lemmertz, during a meeting between Russian President Vladimir Putin and the finalists of the III International Financial Security Olympiad in 2023. And on May 27, as part of the next conference of the International Movement for Financial Security, GUU Rector Vladimir Stroyev joined the Presidium of the movement. The Chairman of the Presidium of the movement is Deputy Prime Minister of the Russian Federation Dmitry Chernyshenko, and the Deputy Chairman is Director of Rosfinmonitoring Yuri Chikhanchin.

    Let us recall that the State University of Management has been a member of the ISI in the field of AML/CFT since 2014, and has been actively participating in the Olympiad movement since the selection events of the 1st International Financial Security Olympiad in 2021. Since 2023, it has been actively working in the field of promoting the financial security Olympiad movement in historical territories, in particular, in 2023 it organized the selection of participants in the Olympiad finals among students and schoolchildren from the DPR, LPR, Zaporizhia and Kherson regions, in the same year it organized a summer school for finalists from historical territories and annually participates in the training of teachers of historical territories to conduct a thematic lesson on financial security.

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

    MIL OSI Russia News –

    May 30, 2025
  • MIL-OSI: Surgent Income Tax School Launches 2025 Comprehensive Tax Course for Aspiring Tax Professionals

    Source: GlobeNewswire (MIL-OSI)

    RADNOR, Pa., May 29, 2025 (GLOBE NEWSWIRE) — Surgent Income Tax School, a division of Surgent Accounting and Financial Education, today announced the release of its 2025 Comprehensive Tax Course, the nation’s leading beginner tax preparer training program.

    Designed for individuals looking to start a career in tax preparation and for firms seeking to train new staff, the updated Comprehensive Tax Course combines real-world application, expert instruction and flexible delivery in one online platform.

    The 2025 edition includes refreshed content aligned with the latest IRS tax law updates, along with bonus resources that support new preparers in launching their career or growing their tax business. The course provides in-depth instruction on preparing individual tax returns for most U.S. taxpayers and now features updated content aligned with 2024 tax law changes, including adjustments to filing thresholds, deductions, credits and federal forms.

    “Our Comprehensive Tax Course remains the industry standard for aspiring tax preparers,” said Elizabeth Kolar, executive vice president at Surgent. “We’ve updated the course for 2025 to ensure learners are gaining relevant, applicable skills that help them start earning income quickly, whether they want to work seasonally or build a long-term business.”

    Available entirely online, the course allows learners to progress at their own pace with instructor support, graded exams and hands-on exercises. Students earn a certificate of completion and a digital badge, validating their credentials to clients and employers. The course also provides a strong foundation for further advancement, including pursuit of the IRS Enrolled Agent credential.

    “This course isn’t just about teaching tax law; it’s about helping people build sustainable careers,” said Nick Spoltore, vice president of tax and advisory content at Surgent. “We break down complex topics into manageable, real-life scenarios so learners feel confident applying what they’ve learned.”

    Training Staff with the 2025 Comprehensive Tax Course
    For tax business owners, the 2025 Comprehensive Tax Course also serves as a scalable training solution for new hires. Employers can purchase the course for multiple staff members and receive access to instructor tools for lesson plans, tracking student progress, providing feedback and maintaining compliance. This cost-effective solution helps firms expand their workforce while maintaining quality and consistency.

    A Unified Platform for Tax Professional Development
    Surgent recently consolidated its Income Tax School offerings at Surgent.com, giving students a single destination to begin and advance their careers. Aspiring tax professionals can now train to become a preparer, pursue the Enrolled Agent credential and meet annual continuing education requirements — all from one platform.

    “Bringing everything together on Surgent.com makes it easier than ever for learners to take control of their future,” said Kolar.

    About Surgent Accounting and Financial Education
    Surgent Accounting and Financial Education, a division of KnowFully Learning Group, delivers high-impact learning solutions for accounting, finance and tax professionals. Its offerings include Surgent CPE for continuing education, Surgent Exam Review for certification prep, and Surgent Income Tax School, which provides online training for aspiring and experienced tax preparers. Through flexible, expert-designed courses and real-world application, Surgent equips professionals with the skills and credentials to succeed at every career stage. Learn more at Surgent.com.

    About KnowFully Learning Group
    The KnowFully Learning Group provides continuing professional education, exam preparation courses and education resources to the accounting, finance and healthcare sectors. KnowFully’s suite of learning solutions helps learners become credentialed, satisfy required credit hours to maintain credentials and stay informed on the latest trends and critical changes in their industries over the course of their careers. The company provides exam preparation and continuing education for accounting, finance and tax professionals headlined by the Surgent Accounting & Financial Education brand. KnowFully’s healthcare education brands include American Fitness Professionals & Associates, ChiroCredit, freeCE, Impact EMS Training, Online CE, PharmCon, Rx Consultant and Psychotherapy.net. For more information, please visit KnowFully.com.

    Contact:
    Surgent Accounting and Financial Education
    marketing@surgent.com

    A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a6f91770-8662-4a5d-b9db-878b6b7229b8

    The MIL Network –

    May 30, 2025
  • MIL-OSI: FirstBank’s First Quarter Results Reflect Community Engagement and Stability

    Source: GlobeNewswire (MIL-OSI)

    LAKEWOOD, Colo., May 29, 2025 (GLOBE NEWSWIRE) — FirstBank, one of the nation’s largest privately held and top-performing banks with a focus on “banking for good,” announced its 2025 first-quarter summary of the company’s holdings and activities. The bank reported the following quarter-end results:

    • Net income in the first quarter of 2025 was $82.8 million
    • Total deposits were $23.8 billion 
    • Net loans were $15.8 billion  
    • Total assets were $27.1 billion 

    Near the end of the quarter, FirstBank closed the sale of its California Market and four branch locations, successfully transitioning all California accounts and branches to California Bank and Trust (CB&T), a division of Zions Bancorporation. The sale was an important move for the bank, allowing it to focus more on strategic growth opportunities in Colorado and Arizona.

    “The decisions FirstBank makes are strategically aimed at long-term growth,” said Kevin Classen, CEO of FirstBank. “We will continue to invest in small businesses and local initiatives that drive progress and create a lasting impact.”

    Moreover, the bank continues to support small businesses with its “It Takes Courage” video series, which highlights small businesses taking a leap of faith to make their big business dreams come true. 

    About FirstBank

    FirstBank began providing banking services in 1963. Today, it’s known as an industry leader in digital banking. It has grown to be one of the top-performing and largest privately held banks in the United States. FirstBank offers a variety of consumer deposit accounts, home equity loans, mortgages, rental property loans, and a full range of commercial banking services, including business financing, commercial real estate loans, treasury management, and more. Since 2000, FirstBank has been recognized as a top corporate philanthropist, contributing more than $90 million and thousands of volunteer hours to charitable organizations. The company is also unique in that a large portion of its stock is owned by management and employees, giving employees a financial stake in the bank’s success through its Employee Stock Ownership Program. For more information, visit www.efirstbank.com. Member FDIC.

    The MIL Network –

    May 30, 2025
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