NewzIntel.com

Category: Economy

  • MIL-OSI USA: FACT: One, Big, Beautiful Bill Cuts Spending, Fuels Growth

    US Senate News:

    Source: US Whitehouse
    President Donald J. Trump’s One, Big, Beautiful Bill is a once-in-a-generation opportunity to cut spending, fuel growth, and level the fiscal footing of the American economy.
    Stephen Miller, White House Deputy Chief of Staff, explains the bill’s historic nature:
    “The Big Beautiful Bill is NOT an annual budget bill and does not fund the departments of government. It does not finance our agencies or federal programs. Instead, it includes the single largest welfare reform in American history. Along with the largest tax cut and reform in American history. The most aggressive energy exploration in American history. And the strongest border bill in American history. All while reducing the deficit.”
    Miller goes on to explain how the legislation also reduces the deficit:
    “The bill saves more than 1.6 TRILLION in mandatory spending, including the largest-ever welfare reform. A remarkable achievement. I’ve also seen claims the bill increases the deficit. This lie is based on a CBO accounting gimmick. Income tax rates from the 2017 tax cut are set to expire in September. They were always planned to be permanent. CBO says maintaining *current* rates adds to the deficit, but by definition leaving these income tax rates unchanged cannot add one penny to the deficit. The bill’s spending cuts REDUCE the deficit against the current law baseline, which is the only correct baseline to use.”
    Meanwhile, Peter Navarro, Senior Counselor for Trade and Manufacturing, explains why so-called “forecasts” fail to account for the bill’s contributions to economic growth and debt reduction:
    “In making its projections, the CBO [Congressional Budget Office] has refused to account for — or ‘score’ as they say in CBO lingo — any of the new revenues from the Trump reciprocal tariffs.
    Remember here a key goal of Trump’s fair-trade policies is to shift the U.S. tax base from one primarily reliant on income taxes to one that, with the vision of the new External Revenue Service, is also supported by tariff revenues. Consider, then, the impacts on the CBO’s projected revenue shortfall of just the modest 10 percent global baseline tariff Trump recently put into effect.
    Such a tariff, depending on consumer responses (as measured by demand elasticities) and enforcement efficacy (i.e., how much cheating occurs), should generate between $2.3 trillion and $3.3 trillion in additional revenue over the ten-year forecast period. When this revenue is layered onto the enhanced dynamic growth scenario, the projected budget impact from the One Big Beautiful Bill Act ranges from a modest $300 billion increase in the debt under the 2.2 percent growth assumption to as much as a $2 trillion surplus under the 2.7 percent growth assumption.”

    MIL OSI USA News –

  • MIL-OSI USA: Cornyn Backs Creation of Texas Stock Exchange

    US Senate News:

    Source: United States Senator for Texas John Cornyn

    AUSTIN – U.S. Senator John Cornyn (R-TX) sent a letter to the U.S. Securities and Exchange Commission (SEC) expressing his strong support for the Texas Stock Exchange’s (TXSE) application to operate as a National Securities Exchange:

    “If approved, the TXSE will bolster competition in all areas of the exchange business, including listings, trading technology, market structure, market data, and market connectivity,” wrote Sen. Cornyn.

    “Texas is emerging as a new global business and financial hub. The Lone Star State leads the nation in economic development, job growth, and corporate relocations. I believe that TXSE’s plan to expand the public capital markets beyond New York would complement Texas’ diverse pro-business culture,” he continued.

    “The TXSE has significant potential to take the U.S. economy to new heights, providing entrepreneurs and businesses with new opportunities for advancement and increased investment,” he concluded.

    The full text of the letter is available here and below.

    May 22, 2025

    Ms. Vanessa Countryman

    Secretary 

    Securities and Exchange Commission

    100 F Street NE

    Washington, DC 20549-1091

    Dear Ms. Countryman:

    I am writing to express my support for the Texas Stock Exchange’s (TXSE) application for approval as a National Securities Exchange. 

    As a member of the United States Senate Finance Committee, I recognize the importance of creating a financial environment that fosters economic production, entrepreneurship, and job growth. During my time in the U.S. Senate, I have focused on enacting commonsense policies that enhance our nation’s business climate, strengthen our financial system, and ensure that the U.S. economy remains the strongest in the world.

    Competition is the foundation of America’s capital markets. Unfortunately, the number of publicly traded companies have significantly declined over the past 25 years, limiting public investment opportunities and decreasing competition. Establishing a new exchange will give issuers more options to drive innovation and improve capital formation. If approved, the TXSE will bolster competition in all areas of the exchange business, including listings, trading technology, market structure, market data, and market connectivity.

    Texas is emerging as a new global business and financial hub. The Lone Star State leads the nation in economic development, job growth, and corporate relocations. I believe that TXSE’s plan to expand the public capital markets beyond New York would complement Texas’ diverse pro-business culture. The TXSE has significant potential to take the U.S. economy to new heights, providing entrepreneurs and businesses with new opportunities for advancement and increased investment. 

    I am grateful for this opportunity to express my views on the TXSE’s application and encourage SEC approval.

    Sincerely,

    Senator John Cornyn

    U.S. Senator

    MIL OSI USA News –

  • MIL-OSI United Nations: Extreme heat risk reduction: Towards a common global framework

    Source: UNISDR Disaster Risk Reduction

    This report summarizes the proceedings of the 17-19 December 2024 Expert Consultation ‘Extreme Heat Risk Reduction Towards a common global framework’, convened by the Global Heat Health Information Network, World Meteorological Organization, and the UN Office for Disaster Risk Reduction (UNDRR). 

    The consultation on heat risk governance successfully resulted in three key outputs:

    • Consensus from participants on the need for a common governance framework that can enhance local coordination among sectors, institutions and levels of government, align actors and policies, and guide investment in heat risk reduction.
    • Definition of essential components of heat risk governance including for example cross-sectoral data integration, coordinated decision-making, and investment, financial and technical capacity building, and multi-level policy alignment.
    • Agreement on a roadmap for next steps, including the drafting of a common framework for extreme heat risk governance, consultation, and its planned launch at the Global Platform for Disaster Risk Reduction (GP2025) in June 2025.

    MIL OSI United Nations News –

  • MIL-OSI Europe: Answer to a written question – Request for clarification on the measures weakening the EU fruit-growing sector and benefiting third-country imports – E-000203/2025(ASW)

    Source: European Parliament

    Regulation (EU) 2018/785[1] banned all outdoor uses of plant protection products (PPP) containing thiamethoxam because of unacceptable impacts on bees. Thereafter, the applicant for the renewal of approval of thiamethoxam withdrew its application and the approval expired in 2019.

    Regulation (EU) 2023/334[2] lowered all Maximum Residue Levels for thiamethoxam to the technical zero[3], considering the impact on bees, which is an environmental concern of global nature. These levels also apply to products imported into the EU.

    Decisions on the approval of active substances are always based on a scientific assessment of potential effects on human health or the environment, the consideration of other legitimate factors and the precautionary principle, in accordance with Regulation (EC) No 1107/2009[4] which does not explicitly include socioeconomic factors[5].

    As set out in its Vision for Agriculture and Food[6], the Commission will carefully consider any further ban of pesticides if alternatives are not yet available, unless the pesticide in question represents a threat to human health or to the environment that agriculture relies on for its viability.

    Member States can grant emergency authorisations for PPP containing non-approved active substances, if these are necessary to combat a danger to plants that cannot be controlled by other reasonable means.

    The Common Agricultural Policy supports farmers with, e.g., investments, research, production methods, replanting of orchards after mandatory grubbing.

    If phytosanitary measures require restriction of movement of fruits/vegetables within the EU, exceptional supporting market measures can be adopted. Horizon Europe[7] prioritises plant health research and innovation[8] under its cluster 6[9].

    • [1] http://data.europa.eu/eli/reg_impl/2018/785/oj.
    • [2] Commission Regulation (EU) 2023/334 of 2 February 2023 amending Annexes II and V to Regulation (EC) No 396/2005 of the European Parliament and of the Council as regards maximum residue levels for clothianidin and thiamethoxam in or on certain products. OJ L 47, 15.2.2023, p. 29-45.
    • [3] Technical zero is the limit of determination.
    • [4] Regulation (EC) No 1107/2009 of the European Parliament and of the Council of 21 October 2009 concerning the placing of plant protection products on the market and repealing Council Directives 79/117/EEC and 91/414/EEC (OJ L 309, 24.11.2009, p. 1).
    • [5] Recital 24 of Regulation (EC) No 1107/2009: ‘The provisions governing authorisation must ensure a high standard of protection. In particular, when granting authorisations of plant protection products, the objective of protecting human and animal health and the environment should take priority over the objective of improving plant production. Therefore, it should be demonstrated, before plant protection products are placed on the market, that they present a clear benefit for plant production and do not have any harmful effect on human or animal health, including that of vulnerable groups, or any unacceptable effects on the environment’.
    • [6] Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the committee of the Regions. A Vision for Agriculture and Food Shaping together an attractive farming and agri-food sector for future generations. COM/2025/75.
    • [7] https://research-and-innovation.ec.europa.eu/funding/funding-opportunities/funding-programmes-and-open-calls/horizon-europe_en.
    • [8] AgriFactsheet on Plant Health: https://research-and-innovation.ec.europa.eu/document/e8a5772e-9fca-4583-a81b-649729068f1e_en.
    • [9] https://circular-cities-and-regions.ec.europa.eu/support-materials/funding-and-financing/horizon-europe-cluster-6-food-bioeconomy-natural-resources.

    MIL OSI Europe News –

  • MIL-OSI USA: SCHUMER REVEALS: AS SUMMER SEASON KICKS OFF, TRUMP’S TARIFF WAR SLAMS UPSTATE NY – CANADIAN BORDER CROSSINGS PLUNGE NEARLY 290,000 & PLUMMET A WHOPPING 22% ACROSS ALL NY PORTS OF ENTRY LAST MONTH -…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer

    New Data Shows Border Crossings Across Upstate NY Are Nose-Diving As Trump’s Tariffs And Ludicrous Comments On Annexing Canada Drive Away Tourists, Putting Billions For NY’s Main Streets At Risk, Jeopardizing Jobs, & Restricting The Summer Tourism Economy

    Schumer Says NY House Republicans Must Stand Up For Upstate NY And The Main Street Hotels, Restaurants & Shops Across NY That Rely On Canadian Tourists And Are Seeing Major Hits To Their Bottom Lines – The House Needs To Act On The Senate-Passed Bill To End Tariff War With Canada

    Schumer: Trump Tariff War & Destructive Comments Are Burning Bridges With Canada, And Blowing A Massive Hole In Upstate NY’s Tourism Economy

    With summer tourism season kicking off and Canadians canceling trips to the United States at record rates because of Trump’s mistreatment of our closest ally and trading partner, U.S. Senator Chuck Schumer today revealed new data on how Trump’s reckless tariff war is causing border crossings to plummet across all major land ports of entry in Upstate New York. According to Customs & Border Patrol (CBP), almost 290,000 fewer travelers crossed the Upstate New York-Canadian border last month than over the same period in 2024, a whopping 22% decrease.

    “Burning bridges and ruining relationships with our closest ally and key trading partner, Canada, right when summer tourism season is arriving, is about as destructive as it gets. Upstate NY is on the frontlines of Trump’s destructive tariff war, and this shocking new data shows our tourism economy is paying the price from Buffalo to Ogdensburg,” said Leader Schumer. “Instead of lowering costs, Trump’s tariffs are raising prices for families and driving away tourists who spend billions in our shops, hotels, restaurants, and support thousands of NY jobs. If this trend of depressed tourism continues, this could be a summer in Upstate NY that no small business wants to remember.”

    According to new data from CBP, Upstate NY & Canada saw approximately 1,017,500 border crossings in April, compared to 1,307,381 during the same month in 2024, a nearly 22% decrease across road and bridge crossings frequented by tourists.  A breakdown bridge-by-bridge from the Bridge and Tunnel Operators Association shows just how steeply tourism is declining across all the major land ports of entry between Upstate NY and Canada:

    NY-Canada Bridge

    Region

    April 2024 Auto Crossings

    April 2025 Auto Crossings

    Percentage Decline

    Peace Bridge

    Western NY

    366,159

    309,317

    15.52%

    Rainbow Bridge

    Western NY

    174,395

    119,265

    31.61%

    Lewiston-Queenstown Bridge

    Western NY

    239,645

    204,222

    14.78%

    Whirlpool Rapids Bridge

    Western NY

    32,211

    25,377

    21.22%

    Ogdensburg-Prescott International Bridge

    North Country

    43,945

    31,857

    27.51%

    Thousand Islands Bridge

    North Country

    147,814

    117,953

    20.20%

    Seaway Bridge

    North Country

    209,524

    205,518

    1.91%

    Schumer said this steep drop is alarming and called on NY House Republicans to stand up for their constituents and Main Street small businesses – like hotels, restaurants and shops – and take up the resolution which has already passed the Senate to end this reckless, ill-conceived and harmful trade war with Canada.

    Schumer added, “This should be a bright red alarm for NY House Republicans who have stayed silent as Trump’s reckless trade war has wreaked havoc in their districts. To add insult to injury, he makes absurd declarations on annexing our neighbors to the north, which only depresses travel to the U.S. and the purchase of American products. NY House Republicans need to stand up for Upstate NY and should take up the bill which has already passed the Senate to end this reckless trade war with Canada and restore our cherished, friendly and economically dynamic relationship with our next-door neighbor.”

    Across Upstate NY, businesses are already seeing the impacts of fewer Canadian tourists and are worried that it will get worse, and Upstate New York would feel the impact of this decline first and harder than nearly anywhere else in the country. In Western New York, Canadian tourism is nearly 40% of the overall tourism economy in Buffalo. In Central New York, Visit Syracuse says web traffic from Canadians is down by half this year creating major worry for the summer season, approximately 15% of tourism dollars spent in the Syracuse area come from Canadian visitors.

    According to a recent North Country Chamber of Commerce survey, 66% of businesses are already experiencing a dip in Canadian bookings. Canada is the top source of international visitors to the U.S., with 20.4 million visits in 2024, generating $20.5 billion in spending and supporting 140,000 American jobs. Schumer said if there were even a 10% reduction in Canadian travel, it could mean as much as $2 billion in lost spending and 14,000 job losses across America.

    “The Peace Bridge, as a self-funded agency, is reliant on tolls generated by cross border traffic to provide service to the travelling public. We were just beginning to approach normal traffic volumes following the border restrictions imposed during the Covid-19 Pandemic,” said Ron Rienas, Chief Executive Officer of the Peace Bridge Authority. “The decline of car and truck traffic directly impacts our bottom line and that of every international crossing and hampers the ability to make investments to facilitate  the safe and efficient movement of people and commerce.”

    “As Town Supervisor of Plattsburgh, and through ongoing discussions with leaders from other border communities on both sides, I have witnessed firsthand the devastating impact tariffs are having on our region. The sharp decline in Canadian visitors is hurting families, small businesses, hotels, marinas, golf courses, restaurants, and workers who depend on cross-border tourism to make a living. Beyond the economic toll, these tariffs are eroding the cultural ties that have connected our communities for generations,” said Michael S. Cashman, Plattsburgh Town Supervisor. “This isn’t about politics it’s about real people and the survival of our border region. The harmful rhetoric labeling Canada as a ‘51st state’ only deepens divisions. Canada is our oldest ally and closest friend, and our economies and cultures have long been intertwined for the benefit of us all.”

    Since taking office in January, Trump has damaged the United States’ relationship with Canada by threatening to annex Canada and levying 25% tariffs on Canadian goods. Schumer said this new data on major reductions in bridge crossings shows Trump’s threats to annex Canada and tariff Canadian goods are directly impacting commerce between the two countries, including Canadian tourism across New York State.

    Schumer said he is fighting to end this unnecessary, damaging trade war with Canada and protect tourism, small businesses, and local jobs. Earlier this year, the Senate passed a bipartisan resolution to end tariffs on Canada, and Schumer said this new shocking data shows the urgency for House Republicans to take up and pass it as well. Senate Democrats are also pushing for tariff exemptions for small businesses and putting an end to Trump’s across-the-board tariffs. Schumer said ending this costly trade war is key to protecting American families from price increases and job losses as a result of tariffs on Canada.

    “I am all for addressing trade imbalances, especially with adversaries like China, but these sweeping, ill-conceived tariffs are creating chaos and undermining those goals. Rather than uniting the world against China, Trump has united our allies like Canada against us. The Senate passed a resolution to end this disastrous trade war with Canada, and now it’s time for the House to follow. We need everyone, especially NY House Republicans, to stand up against Trump’s senseless, job-killing trade war that is hurting our tourism industry, New York’s Main Streets, and New Yorkers’ jobs,” concluded Schumer.

    MIL OSI USA News –

  • MIL-OSI Europe: Answer to a written question – GGSC opinion on NGTs – shift of safety assessment and liability risks from biotech companies to the food industry – P-000919/2025(ASW)

    Source: European Parliament

    The Commission recognises that regulatory requirements in general may be more burdensome for small and medium enterprises (SMEs).

    For this reason, the Commission has adopted a number of measures aimed at creating a business-friendly environment[1], facilitating access to finance[2], improving access to markets[3], fostering competitiveness[4], and innovation for SMEs[5].

    As regards novel foods, some Member States are in addition providing financial and technical support for SMEs to prepare and submit novel food applications and others are exploring such possibility.

    Furthermore, the European Food Safety Authority (EFSA) has recently published the second Call for Expression of Interest targeting Novel Food SMEs[6], aiming at raising awareness and facilitating access for SME applicants to the pre-submission advice service by the European Food Safety Authority, specifically in the area of novel foods.

    The Commission carried out an impact assessment[7] prior to adopting its proposal on plants obtained by certain new genomic techniques (NGTs)[8], focusing on the burden and costs for food business operators and developers to bring NGT plants to the market, and not on additional potential requirements that might arise from other existing EU legislation applicable to Category c NGT plants and products .

    According to the proposal, plants verified to be Category c NGT plants would be subject to other regulatory requirements as they apply to comparable plants obtained by conventional breeding.

    The Commission notes that the Novel Foods Regulation[9] requires every operator to verify whether a food it intends to place on the market is novel or not and maintains a catalogue[10] with examples to support companies in this regard.

    • [1] Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions entrepreneurship 2020 action plan reigniting the entrepreneurial spirit in Europe, COM/2012/0795 final (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A52012DC0795).
    • [2] https://europa.eu/youreurope/business/finance-funding/getting-funding/access-finance/index_en.htm.
    • [3] https://ec.europa.eu/growth/access-finance-smes/cosme-financial-instruments_en.
    • [4] https://ec.europa.eu/growth/industry_en#competitiveness .
    • [5] https://ec.europa.eu/growth/industry/policy/innovation_en.
    • [6] https://www.efsa.europa.eu/en/call/call-expressions-interest-efsas-advice-novel-food-smes-2025-edition.
    • [7] SWD(2023) 412.
    • [8] COM(2023) 411.
    • [9] Regulation (EU) 2015/2283 of the European Parliament and of the Council of 25 November 2015 on novel foods, OJ L 327, 11.12.2015, p. 1. See Article 4.
    • [10] https://food.ec.europa.eu/food-safety/novel-food/consultation-process-novel-food-status_en.
    Last updated: 28 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Future of the common agricultural policy – E-001315/2025(ASW)

    Source: European Parliament

    The Commission’s proposal for the next multiannual financial framework will ensure a simpler, more focused and impactful budget aligned with EU priorities.

    Recognising the importance of food security and nature protection for Europe’s quality of life, the Common Agricultural Policy (CAP) will aim to support farmers in a more targeted way, enhance environmental and social outcomes, and foster thriving rural areas in a simpler, more targeted manner, with the right balance between incentives, investment and regulation.

    The Commission is aware of the challenges in Romania’s livestock sector. Several measures already exist and can be used to support the sector.

    Current solutions for this sector under the CAP framework such as coupled income support, sectoral interventions, and investments allow for targeted strategies without causing disproportionate trade distortion.

    Romania and other Member States also offer transitional national aid. Supporting breeding animal purchases is not in line with the current CAP rules.

    Fishing capacity ceilings are vital to prevent overfishing. The Commission recognises the challenges they may pose for fleet modernisation.

    Under the Common Fisheries Policy (CFP), Member States can already address additional capacity needs, as many have a margin between capacity ceilings and actual fishing capacity.

    An evaluation of the CFP Regulation is ongoing, with results expected in early 2026, to assess its suitability in today’s context and emerging challenges.

    MIL OSI Europe News –

  • MIL-OSI Europe: EIB welcomes new UN Protocol to mobilise investment for a sustainable ocean economy

    Source: European Investment Bank

    EIB

    The European Investment Bank (EIB) welcomes the launch of the United Nations Ocean Investment Protocol, a comprehensive new framework to align financial flows and business practices with the transition to a sustainable ocean economy. As a knowledge partner in its development, the EIB recognises the Protocol as a vital guide to scaling finance for a healthy and resilient ocean.

    The United Nations Global Compact and the UN Environment Programme Finance Initiative (UNEP FI) today unveiled the Protocol, which builds on the UN Global Compact Sustainable Ocean Principles and UNEP FI’s Sustainable Blue Economy Finance Principles. The Ocean Investment Protocol offers financial institutions, insurers, ocean industries, governments, and development finance institutions a clear pathway to collectively foster the growth of the Sustainable Ocean Economy and achieve the Sustainable Development Goals (SDGs), including SDG14 (“Life Below Water”).

    As the largest supporter of the blue economy among development finance institutions, the EIB Group has committed €10.6 billion to blue economy projects between 2020 and 2024, mobilising €43 billion in total investments. The EIB was also a co-founder of the Sustainable Blue Economy Finance Principles in 2017, helping to set a global standard for responsible investment.

    The release of the Ocean Investment Protocol comes at a pivotal moment, as global momentum builds around a nature-positive agenda, the urgent need to curb carbon emissions, and accelerating action to tackle plastic and chemical pollution. The Protocol is intended to galvanize multi-stakeholder collaboration in the run-up to major ocean, climate, and biodiversity milestones.

    Key elements include:

    • Holistic Guidance for financial actors to manage environmental risks and pursue growth in sectors such as offshore renewables, sustainable seafood, and climate-resilient infrastructure.
    • Data and Disclosure recommendations, promoting greater transparency on nature-related risks and impacts and aligning with global reporting frameworks, including the Taskforce on Nature-related Financial Disclosures, the Task Force on Climate-related Financial Disclosures, and science-based targets.
    • Sector-Specific Roadmaps outlining responsible financing and operational practices in shipping, tourism, fisheries, renewable energy and other key ocean industries.
    • Policy and Regulation Support to foster investment-ready environments, highlight the importance of marine spatial planning and encourage incentives for sustainable practices.
    • Catalytic Role of Development Finance in advancing pipeline development for the Sustainable Ocean Economy, especially in emerging markets and coastal communities most vulnerable to climate change.

    “The UN Ocean Investment Protocol is a strong complement to the Sustainable Blue Economy Finance Principles, which the EIB co-founded,” said EIB Vice-President Ambroise Fayolle. “It provides governments, financial institutions, insurers, and companies with the clarity and guidance needed to align private investments with the Sustainable Development Goals. By setting clear recommendations for responsible investment, the Protocol will help ensure that growth in ocean industries goes hand in hand with environmental stewardship and social inclusion. At the EIB, we look forward to helping turn these recommendations into concrete action for the benefit of people and planet.”

    Background information  

    A thriving ocean is essential for biodiversity, food security, climate resilience, and global livelihoods. The Sustainable Ocean Economy links ocean health with prosperity—making targeted finance more urgent than ever. It is central to achieving the targets of the SDGs, the Paris Agreement and the Kunming-Montreal Global Biodiversity Framework. With ocean health inseparable from global prosperity, mounting pressures—rising ocean temperatures, overfishing, pollution, biodiversity loss, weak governance, and inequitable access to marine resources—highlight the urgency of dedicated investments and policies that safeguard marine ecosystems and drive equitable economic opportunities.

    The ocean economy is already equivalent in size to the world’s fifth largest economy, and global markets are reliant on the ocean and its industries to support 90 percent of global trade volume. Developing a regenerative and sustainable ocean economy is becoming increasingly central to global transitions in trade, infrastructure, energy, climate resilience, food security and regenerative tourism. The Ocean Investment Protocol responds to the critical need for swift, holistic efforts to preserve ocean ecosystems and foster growth in sustainable ocean-based sectors. It outlines actionable steps to align investments with nature- and climate-positive outcomes, fostering innovation across key ocean sectors. By 2050, the market value of a refocused, sustainable and fairly shared ocean economy is projected to reach USD$5.5 trillion.

    EIB 

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

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

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

    Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    High-quality, up-to-date photos of our headquarters for media use are available here.

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Impact on citizens of the Green Deal, the Clean Industrial Deal and a possible carbon levy – E-000911/2025(ASW)

    Source: European Parliament

    Industry in Europe is under pressure, due to several factors, including high energy prices, international competition amidst rising geopolitical tensions, and overcapacities in third countries[1]. Decarbonising our economies is a global challenge that can be an economic opportunity, as flagged in the Draghi Report[2]. The European Green Deal[3] and the recent Clean Industrial Deal[4] provide the toolbox to strengthen the business case for decarbonisation in Europe .

    The Clean Industrial Deal puts forward concrete actions to turn decarbonisation into a driver of growth for European industries. Specific measures include the Affordable Energy Action Plan[5], aimed at lowering energy bills while promoting the necessary transition to a low-carbon economy, and the upcoming Industrial Decarbonisation Accelerator Act, which will increase demand for EU-made clean products. The Clean Industrial Deal identifies seven indicators to measure progress, such as the annual installation of renewable electricity capacity and investment volumes under InvestEU[6] supporting industrial transition.

    The Commission is not considering the introduction of a direct carbon levy for citizens on top of the EU Emissions Trading System[7].

    • [1] 2025 Annual Single Market and Competitiveness Report: https://single-market-economy.ec.europa.eu/publications/2025-annual-single-market-and-competitiveness-report_en .
    • [2] https://commission.europa.eu/topics/eu-competitiveness/draghi-report_en.
    • [3] https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal_en.
    • [4] https://commission.europa.eu/topics/eu-competitiveness/clean-industrial-deal_en.
    • [5] https://energy.ec.europa.eu/strategy/affordable-energy_en.
    • [6] https://investeu.europa.eu/index_en.
    • [7] https://climate.ec.europa.eu/eu-action/eu-emissions-trading-system-eu-ets_en.
    Last updated: 28 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – The Emilia Romagna Region’s LGBTQ+ tourism initiative’s potential violation of the principle of non-discrimination – E-001022/2025(ASW)

    Source: European Parliament

    The Commission would like to inform the Honourable Member that according to the Emilia Romagna managing authority, this regional initiative is not financed by the European Regional Development Fund nor by the Recovery and Resilience Facility but through regional resources.

    According to its Article 51(1), the Charter of Fundamental Rights of the European Union[1] is addressed to the Member States only when they are implementing EU law. In cases falling outside the scope of EU law, such as the present one, it is for Member States, including their judicial authorities, to ensure that fundamental rights are effectively respected and protected in accordance with their national legislation and international human rights obligations.

    • [1] Charter of Fundamental Rights of the European Union, OJ C 326, 26.10.2012, p. 391-407.
    Last updated: 28 May 2025

    MIL OSI Europe News –

  • MIL-OSI Asia-Pac: Government welcomes passage of Air Passenger Departure Tax (Amendment) Bill 2025

    Source: Hong Kong Government special administrative region

    Government welcomes passage of Air Passenger Departure Tax (Amendment) Bill 2025Issued at HKT 19:54

    The Government welcomed the passage of the Air Passenger Departure Tax (Amendment) Bill 2025 by the Legislative Council today (May 28) to implement the proposal in the 2025-26 Budget to increase the air passenger departure tax (APDT) from $120 to $200 per passenger. It is anticipated that government revenue will increase by about $1.6 billion per year. The new tax rate will be applicable to air tickets purchased on or after October 1, 2025.

    A Government spokesperson said, “The Government has struck a balance between increasing revenue and minimising the impact on passengers when considering increasing the APDT. The impact of the increase on the overall cost of travelling for air passengers (including tourists) is minimal.”

    The Bill also streamlines the Government’s financial arrangement for paying administrative fees to the airlines and helicopter company. It empowers the Financial Secretary to approve their retention of part of the APDT collected for offsetting the administration fees payable by the Government to them, and provides that the retained fees do not form part of the general revenue under the Public Finance Ordinance (Cap. 2).

    The Bill passed will be gazetted on June 6.

    Ends/Wednesday, May 28, 2025
    Issued at HKT 19:54

    MIL OSI Asia Pacific News –

  • MIL-OSI: Matador Technologies Inc. Announces Closing of Final Tranche of Non-Brokered Private Placement to Support Bitcoin Acquisition

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES

    TORONTO, May 28, 2025 (GLOBE NEWSWIRE) — Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA, OTCQB: MATAF), a Bitcoin-focused technology company, is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement (the “Offering”), pursuant to which it has issued an additional aggregate of 2,588,955 units (the “Units”) at a price of $0.55 per Unit, for aggregate gross proceeds of C$1,423,925. In total with the first tranche closing of 2,863,818 Units on May 26, 2025, the Company has issued an aggregate of 5,452,773 Units pursuant to the Offering to raise aggregate gross proceeds of $2,999,025. This is the final tranche for the financing announced by the Company on May 9, 2025.

    Each Unit consists of one common share and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one additional common share of the Company at a price of $0.75 for a period of twelve (12) months from the date of issuance.

    The Warrants are subject to an acceleration clause: in the event that the closing price of the Company’s common shares on the TSX Venture Exchange (the “TSXV”) is equal to or exceeds $1.05 for five (5) consecutive trading days at any time following the date which is four months and one day after the closing date, the Company may accelerate the expiry date of the Warrants to the date that is thirty (30) days following the dissemination of a press release announcing such acceleration (the “Acceleration Provisions“).

    The securities issued in connection with the second tranche of the Offering are subject to a statutory hold period expiring on September 29, 2025. In connection with the second tranche closing, the Company paid aggregate finders fees of $27,588 and issued an aggregate of 50,160 broker warrants to eligible finders, each broker warrant entitling the holder to acquire one common share of the Company at $0.75 for a period of one year, subject to the Acceleration Provisions.

    The net proceeds of the Offering are expected to be allocated approximately one-third to each of the following: (i) the purchase of Bitcoin; (ii) advancing the Company’s gold acquisition and Grammies business initiatives; and (iii) general corporate purposes.

    Insiders of the Company subscribed for an aggregate of 200,000 Units in connection with the second tranche closing. Such participation is considered to be a “related party transaction” within the meaning of Multilateral Instrument 61-101-Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company has relied upon on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of all related party participation in the Offering as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, exceeds 25% of the Company’s market capitalization (as determined under MI 61-101).

    The Offering is subject to the final approval of the TSX Venture Exchange.

    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.

    Learn more at www.matador.network.

    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, receipt of regulatory approvals, and the launch of its 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 Bitcoin 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 –

  • MIL-OSI Russia: Chinese Vice Premier Welcomes US Financial Institutions’ Participation in China’s Capital Market Development

    Translation. Region: Russian Federal

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

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

    BEIJING, May 28 (Xinhua) — Chinese Vice Premier He Lifeng met with Dan Simkowitz, co-president of U.S. investment bank Morgan Stanley, in Beijing on Wednesday.

    He Lifeng, also a member of the Political Bureau of the CPC Central Committee, said China’s commitment to promoting high-quality development through high-level opening up will inject energy and new impetus into the Chinese and global economies.

    The Vice Premier called on more US-invested financial institutions and US long-term capital, including Morgan Stanley, to deepen mutually beneficial cooperation with China and actively participate in the construction and development of China’s capital market.

    D. Simkovitz, for his part, expressed satisfaction with the significant progress made in the trade and economic negotiations between the United States and China. He said that he would continue to pay close attention to the Chinese market and provide high-quality services to promote investment cooperation between American and Chinese enterprises. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: China’s Vice Premier Calls for Healthy Development of Platform Economy

    Translation. Region: Russian Federal

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

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

    SHANGHAI, May 28 (Xinhua) — Chinese Vice Premier Zhang Guoqing has stressed efforts to promote the healthy development of the platform economy and maintain a fair and orderly market environment.

    Zhang Guoqing, also a member of the Political Bureau of the CPC Central Committee, made the remarks during an inspection tour of the east Chinese city of Shanghai from Tuesday to Wednesday.

    During his visit to online retail, live streaming e-commerce and food delivery companies, Zhang Guoqing pointed out that the platform economy plays an important role in stimulating innovation and entrepreneurship and strengthening internal circulation. He called on relevant companies to devote more resources to providing high-quality products and services.

    When developing platform rules, it is necessary to strictly adhere to the principles of openness and honesty, decisively suppressing unfair competition using bargain prices and low-quality goods, the Deputy Prime Minister of the State Council pointed out.

    Zhang Guoqing said all platforms should use positive and beneficial algorithms while ensuring reasonable and transparent pricing standards. He called for stronger measures to crack down on violations, including price manipulation, false advertising and sales inflated prices.

    Zhang Guoqing called for more efforts to eliminate regulations and practices that hinder the establishment of a unified market and fair competition, and stressed the need to crack down on illegal extortion from enterprises to maintain a favorable market environment.

    In addition, the Vice Premier of the State Council called on market regulators to accelerate the implementation of new technologies, particularly in the field of big data and artificial intelligence, in order to improve the quality and effectiveness of regulation. –0–

    MIL OSI Russia News –

  • MIL-OSI USA: SEC Publishes Data on Regulation A, Crowdfunding Offerings, and Private Fund Beneficial Ownership Concentration

    Source: Securities and Exchange Commission

    The Securities and Exchange Commission’s Division of Economic and Risk Analysis has published three new reports that provide the public with information on capital formation and beneficial ownership of qualifying private funds.

    The first two papers—analyses of the Regulations A and Crowdfunding markets—provide valuable information on how capital is being raised in the United States particularly by smaller issuers. During the periods reviewed (2015 to 2024 for Regulation A and 2016 to 2024 for Regulation Crowdfunding) more than $10 billion was raised.

    The third paper—an analysis of beneficial ownership concentration and fund outcomes for qualifying hedge funds (QHFs) and their advisers from 2013 to 2023—provides information on the interaction of beneficial ownership concentration, portfolio liquidity, investor liquidity, fund leverage, performance, and margins.

    “Today’s reports provide key information on the capital markets,” said Robert Fisher, Acting Chief Economist and Director of the SEC’s Division of Economic and Risk Analysis. “Understanding how capital is being raised and the interaction of ownership concentration with fund outcomes for private funds informs not only the Commission but the public about essential parts of our markets.”

    The three reports issued today are:

    • Analysis of the Regulation A Market: A Decade of Regulation A provides statistics on the state of the Regulation A offering exemption over the past decade. It documents the level of offering activity and reported proceeds as well as the characteristics of issuers and offerings relying on this exemption. There were more than 1,400 offerings during this period seeking an aggregate of more than $28 billion in capital. Approximately $9.4 billion in proceeds was reported by more than 800 issuers. A typical Regulation A issuer was relatively small and young, and most issuers had not yet established a record of profitability.
    • Analysis of Crowdfunding Under the JOBS Act provides an analysis of offering activity in the Title III securities-based crowdfunding market between May 16, 2016, (effective date of Regulation Crowdfunding) and December 31, 2024. During this period, there were more than 8,400 offerings initiated by more than 7,100 issuers, excluding withdrawn offerings. The offerings sought a total of approximately $560 million based on the target (minimum) amount. However, almost all offerings had a minimum-maximum format and accepted oversubscriptions up to a higher maximum. In the aggregate, the maximum amount sought in these offerings was approximately $8.4 billion. Based on the analysis of Electronic Data Gathering, Analysis, and Retrieval (EDGAR) filings during this period, there were more than 3,800 offerings where issuers reported proceeds; in total, they reported approximately $1.3 billion in proceeds. The crowdfunding exemption has continued to gain momentum over time and serves small and early-stage companies seeking access to capital, often for the first time. The median issuer had approximately $80,000 in total assets, including $13,000 in cash, $60,000 in debt, and $10,000 in revenue, and three employees.
    • Beneficial Ownership Concentration and Fund Outcomes for Qualifying Hedge Funds  provides statistics describing the relationship between beneficial ownership concentration and fund outcomes for QHFs and their advisers from 2013 to 2023. Over this period, concentrated funds exhibited faster growth than unconcentrated funds. Concentrated funds hold more liquid assets and offer more liquidity to investors relative to unconcentrated funds, though both portfolio and investor liquidity have declined over the sample period. In addition, the gross return of unconcentrated funds is on average 1.2% higher than concentrated funds, but their net return is only 0.1% higher indicating that, on average, the gross performance advantage of unconcentrated funds is offset by higher margins.

    The Division of Economic and Risk Analysis integrates financial economics and rigorous data analytics into the SEC’s core mission. It conducts detailed, high-quality economic and statistical analyses to advise on Commission matters and helps identify and respond to issues, trends, and innovations in the marketplace.

    MIL OSI USA News –

  • MIL-OSI USA: 141-Unit Public Housing Development Completed in Troy

    Source: US State of New York

    overnor Kathy Hochul today announced the completion of the redeveloped John P. Taylor Apartments in the city of Troy. The new $67 million seven-story mixed-use building, developed by Pennrose, features 141 affordable apartments and ground floor retail space, replacing the complex’s two original towers which were demolished in 2022 after having been vacant for more than a decade. Under Governor Hochul’s leadership, New York State Homes and Community Renewal has financed more than 1,300 affordable homes in Rensselaer County. The redevelopment of the John P. Taylor Apartments continues this effort and complements Governor Hochul’s $25 billion five-year housing plan, which is on track to create or preserve 100,000 affordable homes statewide.

    “The completion of the John P. Taylor Apartments is another step forward in our ongoing mission to create and preserve affordable housing opportunities for New Yorkers,” Governor Hochul said. “This complex demonstrates how important our investments are for communities like Troy. This comprehensive project delivers 141 modern, energy-efficient affordable homes and significant infrastructure improvements that support the city’s continued efforts to revitalize its downtown waterfront.”

    The redevelopment of the John P. Taylor Apartments was a priority of the Revitalize Riverside component of Troy’s $10 million Downtown Revitalization Initiative, which was awarded by the State in 2021. The Revitalize Riverside plan was designed to enhance Troy’s South Central neighborhood and is part of a comprehensive strategy to create commercial space, add new housing, restore Troy’s downtown street grid, and improve the Congress Street Bridge which serves as an important artery to several of the region’s major roadways.

    All units are supported by Project-based Section 8 vouchers issued by the Troy Housing Authority. Residents of the original John P. Taylor Apartments were given a preference for placement in the new apartments.

    The new building was constructed to meet EPA Energy Star Multifamily New Construction and Enterprise Green Communities PLUS criteria. The development utilizes advanced energy efficiency features including all-electric HVAC, increased insulation, and an energy recovery ventilation system.

    The John P. Taylor Apartments will offer an array of modern amenities for residents, including free Wi-Fi, washers and dryers in every apartment, and common areas such as a fitness center, community room, and outdoor patio.

    State financing includes Federal Low-Income Housing Tax Credits that generate $30 million in equity and $20 million in subsidy from New York State Homes and Community Renewal. The Department of State’s Downtown Revitalization Initiative provided $1.6 million in support. The Federal Home Loan Bank provided $1.4 million.

    New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Replacing aging public housing stock with modern homes and amenities is one of the most impactful ways to increase quality of life and make housing more affordable for families. This $67 million project, developed by Pennrose in partnership with the Troy Housing Authority, not only provides 141 new apartments but connects people to the city and further revitalizes Troy’s historic waterfront. Under Governor Hochul’s leadership, HCR is proud to work alongside state and local partners to support efforts that are delivering thousands of affordable homes and improving affordability across New York.”

    New York Secretary of State Walter T. Mosley said, “The new Taylor Apartments are a major step towards Governor Hochul’s efforts to make New York more affordable and to create badly needed housing throughout our state. We are incredibly proud of how the Downtown Revitalization Initiative takes a holistic approach in creating opportunities for communities to thrive and for residents to have an affordable place to call home. Congratulations on this successful project completion.”

    U.S. Senator Chuck Schumer said, “Every family in Troy deserves a safe and affordable place to call home. I’m proud that the federal Low-Income Housing Tax Credit that I worked hard to protect and expand has delivered millions to build over 140 new homes at the John P. Taylor Apartments – a redeveloped waterfront building with energy-efficient air conditioning and ventilation systems. High housing costs are a key driver of inflation so we must build more housing for working people to bring down those high prices. I’m proud to have secured federal funding to raze the old, outdated and dilapidated Taylor towers, so that this wonderful new era at the Taylor Apartments could begin. I applaud Governor Hochul’s work increasing access to affordable housing in the Capital Region and across New York, and I will continue working to deliver federal resources to ensure that every New Yorker has a roof over their heads.”

    Assemblymember John McDonald said, “The redevelopment of the John P. Taylor Apartments is a great example of what can be accomplished when state and local partners work together to meet the needs of our communities. This project not only provides high-quality, affordable housing for families in Troy, but it also strengthens the city’s economy through smart, community-focused investment. I’m proud to support initiatives like this that enhance quality of life and create new opportunities for Capital Region residents.”

    Troy Mayor Carmella R. Mantello said, “The completion of the John P. Taylor Apartments marks a major milestone in our continued efforts to move Troy forward. This transformative redevelopment is made possible through the partnership of Pennrose, the Troy Housing Authority, and our city. It not only brings much-needed state of the art affordable housing to our downtown waterfront but also strengthens the connection between our neighborhoods and the Capital Region. Together, we are building a more vibrant, inclusive, and prosperous future for all who call Troy home.”

    Troy City Council President Sue Steele said, “It was a great honor for me to serve as Chair of the Troy Housing Authority Board of Commissioners during the planning, demolition and construction of Taylor 1. This project transformed our city’s downtown while also providing new, modern housing for tenants of the THA. On behalf of the board I want to thank each and everyone involved in making this a reality. I’m grateful for the combined vision of local, state and federal partners and Pennrose to step up and address a critical housing need in our city.”

    Troy Housing Authority Executive Director Deborah Witkowski said, “I want to thank Governor Hochul and our federal and state partners for their investment in the City of Troy and the new Taylor I building which provides 141 units of high-end affordable housing with modern-day amenities that encourage a healthy, sustainable environment for the residents we serve. The Taylor I building is only the beginning of the overall Taylor Apartments revitalization plan that will eventually include other mixed-use, mixed-income buildings with direct access to the riverfront, recreational areas, and a connection to Troy’s downtown district.”

    Pennrose Regional Vice President Dylan Salmons said, “Today’s ribbon cutting is a significant milestone in the years-long effort to revitalize the historic downtown, and we look forward to continuing the momentum with phase II. We’d especially like to thank the local community, neighborhood stakeholders, and residents of Taylor Apartments for their time, feedback, continued trust, and collaboration throughout this process.”

    Governor Hochul’s Housing Agenda
    Governor Hochul is committed to addressing New York’s housing crisis and making the State more affordable and more livable for all New Yorkers. As part of the FY 2025 Enacted Budget, the Governor secured a landmark agreement to increase New York’s housing supply through new tax incentives, capital funding, and new protections for renters and homeowners. Building on this commitment, the FY 2026 Enacted Budget included more than $1.5 billion in new state funding for housing, a Housing Access Voucher pilot program, and new policies to improve affordability for tenants and homebuyers. In addition, as part of the FY 2023 Enacted Budget, the Governor announced a five-year, $25 billion Housing Plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes. Nearly 60,000 homes have been created or preserved to date.

    The FY 2025 Enacted Budget also strengthened the Pro-Housing Community Program which the Governor launched in 2023. Pro-Housing certification is now a requirement for localities to access up to $750 million in discretionary funding. Currently, more than 300 communities have been certified, including Troy.

    MIL OSI USA News –

  • MIL-OSI USA: Launch of New I Love NY Summer Tourism Camapign

    Source: US State of New York

    overnor Kathy Hochul today announced the launch of I LOVE NY’s new integrated summer tourism and travel campaign, highlighted by two new ads running through August across New York State, and in traditional drive markets including Canada. This includes advertising across broadcast, streaming and social platforms, and showcases some of the attractions and activities available. The summer campaign also includes I LOVE NY’s largest mobile marketing tour ever, and additional complementary travel industry efforts to promote visitation to the State’s 11 diverse vacation regions.

    “Tourism is synonymous with New York State, thanks to all of our amazing attractions, from beaches to high peaks, from the Erie Canal to iconic museums and performing arts venues,” Governor Hochul said. “This vital industry is facing challenging new political and economic headwinds. That’s why supporting our tourism industry is more important than ever, and why we are getting out the message that no matter where you’re from, you’re always welcome in New York State.”

    I LOVE NY’s multifaceted summer tourism campaign begins with two new ads featuring a new tagline – “New York State: Everything You Love.” – reflecting the depth and breadth of the world-class attractions and memory-making activities available in communities throughout the state. The new ads can be viewed here and www.iloveny.com/summer.

    Empire State Development President, CEO and Commissioner Hope Knight said, “Tourism is crucial to New York State, supporting jobs and local economies, and we have so many incredible attractions ready to welcome visitors, from Niagara Falls to Montauk Point. This summer, New York wants to extend a special invitation to travelers from across America and all around the world: this is the perfect opportunity to plan a trip to celebrate history, explore our incredible landscapes, and enjoy all that our incredible state has to offer.”

    Empire State Development Division of Tourism Executive Director and Vice President Ross D. Levi said, “In addition to iconic attractions across our state’s eleven beautiful vacation regions, the next few months in New York hold special delights for travelers from near and far. Guests can look forward to special events commemorating the bicentennial of the Erie Canal, a summer of thoroughbred racing at Saratoga Race Course headlined by the Belmont Stakes and Travers races, the Ryder Cup tournament at Bethpage golf course on Long Island, and food and fun at the Great New York State Fair in Syracuse. The endless variety of activities shows that there truly is everything to love in New York State.”

    As part of this new campaign, I LOVE NY is extending a special invitation to international visitors – especially Canada, which represents New York’s largest inbound international market. International visitation is vital to New York State’s tourism economy. Historically, overseas visitors plan longer trips and produce more direct spending during their stays. New for this year’s campaign is a direct-to-consumer international marketing element in the United Kingdom and Australia, which includes digital billboards, plus streaming and digital advertising. I LOVE NY also continues to work with members of the travel trade industry, like tour operators and travel agents in Canada, the United Kingdom, Germany and Australia through trade shows, sales missions and familiarization tours.

    The summer campaign also includes I LOVE NY’s largest-ever mobile marketing tour with more than 40 stops throughout the Northeast. The mobile tour will make stops at popular events such as music festivals, street fairs and sporting events where guests can interact with fun experiences to learn more about the state’s attractions, win special I LOVE NY prizes, and take pictures with a large I LOVE NY logo sculpture.

    Under Governor Hochul, tourism is New York State’s second largest industry, supporting one in 10 jobs. Recently, more than 306.3 million travelers visited New York State, generating $88 billion in direct spending and a record-high economic impact of $137 billion. Each year, tourism spending saves the average New York State household $1,400 in taxes.

    MIL OSI USA News –

  • MIL-OSI Security: Freight Forwarding Company Executive Arrested on Federal Indictment Alleging Massive Scheme to Avoid Customs Duties Payments

    Source: Office of United States Attorneys

    LOS ANGELES – The chief financial officer (CFO) at a Downtown Los Angeles-based shipping company has been arrested 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, the Justice Department announced today.

    Ralph Olarte, 55, of Glendale, the CFO of Sport LA Inc., was arrested late last night at Los Angeles International Airport. He is expected to make his initial appearance and be arraigned this afternoon 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 Tuesday 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 U.S. Customs and Border Protection (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 Tuesday, 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 (CJNG) – 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. 

    Homeland Security Investigations (HSI), CBP, IRS Criminal Investigation, and the Drug Enforcement Administration are investigating this matter. 

    The cases announced today were investigated by HSI’s El Camino Real Financial Crimes Task Force, a multi-agency 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 Security OSI –

  • MIL-OSI Security: Amtrak Employees Admit Participating in $11 Million Health Care Fraud Scheme

    Source: Office of United States Attorneys

    NEWARK, N.J. – Five Amtrak employees recently admitted participating in a health care fraud scheme to defraud Amtrak, U.S. Attorney Alina Habba announced.

    Kevin Frink, 53, of Willingboro, New Jersey, pleaded guilty before U.S. District Judge Madeline Cox Arleo in Newark federal court to an Indictment charging him with conspiracy to commit health care fraud. Michael Toal, 35, of Hazlet, New Jersey, David McBrien, 37, of Levittown, Pennsylvania, Damany Walker, 41, of Irvington, New Jersey, and David Lonergan, 65, of Rockaway Park, New York, in recent weeks also pleaded guilty before Judge Arleo in Newark federal court to the Indictment charging conspiracy to commit health care fraud.

    The Indictment also charges four other co-conspirators in connection with the scheme: Quinton Johnson, 53, of Irvington, New Jersey; Gregory Richardson, 35, of Roosevelt, New York; Timothy Bogen, 59, of Hamden, Connecticut; and Dion Jacob, 50, of Brooklyn, New York.  Defendant Rodolfo Rivera, 41, of Clayton, Delaware, previously pleaded guilty to the Indictment, and co-conspirator Anthony Saloka, 44, of Elizabeth, New Jersey, previously pleaded guilty to an Information.

    “The defendants admitted to colluding with corrupt health care providers in a scheme to defraud Amtrak’s health care plan for personal financial gain.  My office is committed to holding accountable those who profit from health care scams, like this one, that harm the public and the health care system.”

    – U.S. Attorney Alina Habba

    According to documents filed in this case and statements made in court:

    From January 2019 through June 2022, Frink, Toal, McBrien, Walker, Lonergan, and their co-conspirators—who were also Amtrak employees—engaged in a scheme to obtain cash kickbacks from health care providers in return for their agreement to allow their health insurance plan to be billed for services that were never provided and were not medically necessary. In total, as a result of the conspiracy, the Amtrak health care plan paid over $11 million in fraudulent claims associated with providers connected to the scheme.

    Each defendant received thousands of dollars in cash kickbacks from health care providers in return for their participation in the scheme, including from Punson Figueroa, an acupuncturist.  Defendants Frink, McBrien, Walker, and Lonergan also received cash kickbacks from Michael DeNicola, a podiatrist. Figueroa previously pleaded guilty to conspiracy to commit health care fraud and was sentenced on September 24, 2024 to 34 months in prison. DeNicola previously pleaded guilty on June 29, 2022 to conspiracy to commit health care fraud, among other offenses. His sentencing remains pending.

    The health care fraud conspiracy charge carries a maximum potential penalty of 10 years in prison and a $250,000 fine. Walker’s and McBrien’s sentencings are scheduled for July 24, 2025.  Lonergan’s sentencing is scheduled for August 20, 2025.  Toal’s sentencing is scheduled for October 23, 2025. Frink’s sentencing is scheduled for October 9, 2025.

    U.S. Attorney Habba credited special agents of the Amtrak Office of Inspector General, under the direction of Special Agent in Charge Michael J. Waters, the Amtrak Police Department, under the direction of Chief of Police Sam Dotson, and special agents of the Drug Enforcement Administration, under the direction of Special Agent in Charge Frank A. Tarentino III in New York, with the investigation leading to the guilty plea.

    The government is represented by Assistant U.S. Attorneys Jessica R. Ecker and Katherine M. Romano of the Health Care Fraud and Opioid Abuse Prevention Unit, and Senior Trial Counsel Barbara Ward of the Bank Integrity, Recovery, and Money Laundering Unit, in Newark.

    The charge and allegations contained in the Indictment against Johnson, Richardson, Bogen, and Jacob are merely accusations, and they are each presumed innocent unless and until proven guilty.

                                                                           ###

    Defense counsel:  Sarah Sulkowski, Esq. (for Kevin Frink)

        Michael Chazen, Esq. (for Michael Toal)

                                Michael V. Calabro, Esq. (for David McBrien)

                                Michael Rosas, Esq. (for Damany Walker)

                                Bruce S. Rosen, Esq. and Sarah Fehm Stewart, Esq. (for David Lonergan)

    MIL Security OSI –

  • MIL-OSI USA: ICYMI: Mullin to Hannity: Trump Strikes when the Iron is Ripe

    US Senate News:

    Source: United States Senator MarkWayne Mullin (R-Oklahoma)
    “Trump is working all angles on this. This is why Trump makes the ‘Art of the Deal’ right?”
    Washington, D.C. – On Tuesday, U.S. Senator Markwayne Mullin (R-OK) joined Fox News’s Sean Hannity on Hannity to discuss the recent developments in the war in Ukraine and stress that Russia’s President would be a fool to underestimate President Donald J. Trump and America’s return to ‘Peace through Strength’ policies. Highlights below.

    Sen. Mullin’s full interview can be found here.
    On the consequences President Vladimir Putin faces if he continues down this path of killing:
    “He [President Trump] is trying to clean up a mess that he didn’t start. This war would have never taken place if Trump would have been in office, but now it is. He’s been very clear from day one he wanted the killing to stop. He’s tried to work with Putin, his patience is running thin, and you and I know both know President Trump personally. When he’s done with you, he’s done. If Putin continues to push this envelope the way that he is, he’s going to give Zelensky the tools that he needs to fight back with the full-scale, full support of the United States.
    On possible Russian sanctions:
    “Lindsey Graham, myself, and a few other senators led this sanction bill, but we’ve been holding off because President Trump wanted time to negotiate with Russia. Because the negotiations are breaking down, I can see as soon as soon as were ready to move this bill forward, we’ll be able to pass this in the Senate, we’ll be able to pass this in the House, and President Trump will sign it. The sanctions will cripple Russia’s economy. You’ll see the ruble crash. You’ll see the way they’ve been able to benefit from it, this won’t go.”
    On President Trump’s ability to protect American interests:
    “Trump is working all angles on this. This is why Trump makes the ‘Art of the Deal’ right? He’s able to back people in corners and because when he’s ready, and the iron’s ripe, he’s able to strike.”

    MIL OSI USA News –

  • India-Italy relations on upward trajectory; Jaishankar expresses gratitude for support after Pahalgam attack

    Source: Government of India

    Source: Government of India (4)

    Lauding the strengthening ties between India and Italy, External Affairs Minister S. Jaishankar on Wednesday said that the relations between the two nations are on an upward trajectory, marked by renewed momentum in political dialogue, official visits, and growing mutual interest. He reiterated India’s commitment to consolidating the India-Italy Strategic Partnership.

    Speaking at Italy’s National Day celebrations in Delhi on Wednesday, Jaishankar highlighted the shared maritime interests and commitment to freedom of navigation between the two peninsular nations.

    “Whether in the Indo-Pacific or the Indo-Mediterranean, India and Italy share maritime interests and a common commitment to ensuring freedom of navigation and shipping. Italy’s increased presence in the Indo-Pacific, as well as its participation under the Indo-Pacific Oceans Initiative (IPOI) pillar of science and technology, will certainly enhance our cooperation further,” he said.

    “India-Italy relations are undoubtedly progressing positively. There is new momentum in political dialogue, exchanges, and interest in each other’s potential, which I am confident will be fully tapped by stakeholders. Let me reaffirm our government’s commitment to strengthening the India-Italy Strategic Partnership,” he added.

    Jaishankar expressed gratitude to Italy for its support following the terrorist attack in Pahalgam, Jammu and Kashmir. He noted India’s “firm, resolute, and measured response” in targeting terror centers and launch pads.

    “Let me begin by conveying our best wishes to the government and people of Italy on your National Day. We are thankful, Ambassador, for Italy’s solidarity and support following the barbaric terror attack in Pahalgam, Jammu and Kashmir,” he said.

    Referring to Operation Sindoor, launched in response to the attack, Jaishankar said, “India responded firmly and decisively by destroying relevant terror centers and launch pads. The global community has recognized India’s right to defend its people against acts of terror. We believe the world must uphold a zero-tolerance stance against terrorism and cross-border terrorism.”

    The foreign minister noted that the strategic partnership between India and Italy is rooted in shared values and converging interests and recalled the recent meetings between Prime Minister Narendra Modi and his Italian counterpart, Giorgia Meloni, on the sidelines of the G20 and G7 summits.

    “Our strategic partnership is founded on shared values and converging interests, as reflected in multilateral platforms such as the G20. As the Ambassador mentioned, our Prime Ministers met at both the G20 and G7 summits, and our collaboration continues through initiatives like the IMEC (India-Middle East-Europe Economic Corridor), the Global Biofuels Alliance, the Indo-Pacific Oceans Initiative, the International Solar Alliance, and the Coalition for Disaster Resilient Infrastructure.”

    He added, “Our bilateral relations have gained momentum following the adoption of the Joint Strategic Action Plan for 2025–29 by our Prime Ministers last November. We are optimistic that the roadmap outlined in the GASAP will yield concrete and practical outcomes for both our economies and societies.”

    Jaishankar identified trade and economic cooperation as a vital pillar of the partnership and recalled attending the India-Italy Business, Science, and Technology Forum alongside Italy’s Deputy Prime Minister Antonio Tajani and Minister of University and Research Anna Maria Bernini.

    “Trade and economic cooperation are vital elements of our partnership. Last month, I had the opportunity to attend the India-Italy Business, Science and Tech Forum with Deputy Prime Minister and Foreign Minister Tajani and Minister Bernini. The event brought together business leaders and representatives from universities and research centers in both countries to explore collaboration across multiple sectors. This forum also presents an opportunity to boost our bilateral trade, which currently stands at USD 15 billion annually.”

    “As the world’s fastest-growing major economy, India offers numerous opportunities for investment. Italy’s technologies and best practices in clean energy, agri-tech, logistics, and shipbuilding, among other sectors, can significantly contribute to India’s progress toward becoming a developed nation — Viksit Bharat — by 2047,” he said.

    The foreign minister also acknowledged the strong Indian diaspora in Italy and expressed confidence in the future growth of mobility for professionals and academics between the two countries.

    “The Indian diaspora in Italy is among the largest in the European Union. They are well-received and recognized for their contributions across sectors including agriculture, dairy, industry, and healthcare. We are confident that in the future, increased mobility of professionals, academics, and researchers will facilitate a greater exchange of knowledge and talent between our two countries,” Jaishankar said.

  • MIL-OSI Canada: Applications open for 2025 French-language funding

    La Province accepte les demandes de subvention pour des projets visant à améliorer les services en français et à promouvoir la vitalité de la langue.

    Le gouvernement provincial investit 250 000 $ pour subventionner les initiatives d’organismes à but non lucratif qui reflètent les besoins et les priorités des communautés francophones en Colombie-Britannique.

    Administré par les Affaires francophones, ce financement a été annoncé dans le budget 2018. Depuis lors, la Province a octroyé 1,25 million $ pour subventionner 23 projets dans des domaines aussi variés que la santé, les services à la petite enfance, la prévention de la violence, la sauvegarde du patrimoine historique, l’accès aux ressources en français, le soutien des jeunes familles et le renforcement de la fondation et du patrimoine culturels africains.

    « J’encourage les organisations francophones à réfléchir sur la manière d’aider leurs communautés à croître et à prospérer, notamment dans les régions moins peuplées et plus éloignées, conseille le ministre responsable des Affaires francophones, Adrian Dix. Alors que la subvention des projets réalisés dans les grands centres urbains profite aux francophones de toute la province, en 2025, nous avons réservé jusqu’à 50 000 $ pour les projets proposés par les communautés moins grandes. »

    Les organismes à but non lucratif ont jusqu’au 20 juin 2025 pour présenter une demande de subvention.

    Plus d’informations

    Détails du programme, critères d’admissibilité et formulaire de demande : https://www2.gov.bc.ca/gov/content/governments/organizational-structure/office-of-the-premier/intergovernmental-relations-secretariat/en-francais/affaires-francophones/possibilites-de-financement-provincial/financement-provincial-pour-les-services-en-francais

    Applications are being accepted for French-language funding to support projects that enhance services and promote linguistic vitality.

    The Province is investing $250,000 to support non-profit organizations in delivering initiatives that reflect the needs and priorities of B.C.’s francophone communities.

    Administered by Francophone Affairs, the funding was announced in Budget 2018. Since then, $1.25 million has supported 23 projects in areas such as health, early learning and child care, violence prevention, historical preservation, access to French-language resources, support for young families, and strengthening African cultural foundation and heritage.

    “I encourage francophone organizations to consider how they can help their communities grow and thrive, including in smaller and more remote areas,” said Adrian Dix, Minister Responsible for Francophone Affairs. “While funding for projects in large urban centres benefits francophones provincewide, for 2025, we are setting aside up to $50,000 specifically for proposals from smaller hubs to ensure these communities receive dedicated support.”

    Non-profit organizations have until June 20, 2025, to submit their application.

    Learn More:

    To learn more about the program details, including eligibility criteria and the application form, visit: https://www2.gov.bc.ca/gov/content/governments/organizational-structure/office-of-the-premier/intergovernmental-relations-secretariat/francophone/provincial-funding-opportunities/provincial-funding-for-french-language-services

    MIL OSI Canada News –

  • MIL-OSI USA: SBA Offers Relief to Arkansas Private Nonprofits Affected by April Storms

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to private nonprofit (PNP) organizations in Arkansas affected by severe storms, tornadoes, and flooding occurring April 2-22.

    The disaster declaration covers the Arkansas counties of Clark, Clay, Craighead, Cross, Dallas, Desha, Fulton, Greene, Hempstead, Hot Spring, Izard, Jackson, Lafayette, Lawrence, Lee, Little River, Lonoke, Marion, Miller, Monroe, Montgomery, Nevada, Newton, Pike, Poinsett, Prairie, Pulaski, Randolph, Saline, Scott, Searcy, Sevier, Sharp, St. Francis, Stone and Woodruff.

    Under this declaration, PNPs providing non-critical services of a governmental nature impacted by physical damages or financial losses directly related to the disaster are eligible to apply for both business physical damage loans and Economic Injury Disaster Loans (EIDLs) from the SBA. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools, and colleges.

    PNPs may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as verified by the SBA, for mitigation purposes.

    EIDLs are for working capital needs caused by the disaster and are available even if the PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”

    Interest rates are as low as 3.62% for PNPs with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA will set loan amounts and terms based on each applicant’s financial condition.

    The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to return physical damage applications is July 21, 2025. The deadline to return economic injury applications is Feb. 23, 2026.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: SBA Offers Relief to Missouri Private Nonprofits Affected by March Storms

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to private nonprofit (PNP) organizations in Missouri affected by severe storms, straight-line winds, tornadoes and wildfires occurring March 14-15.

    The disaster declaration covers the Missouri counties of Bollinger, Butler, Callaway, Carter, Dunklin, Franklin, Howell, Iron, Madison, New Madrid, Oregon, Ozark, Perry, Phelps, Reynolds, Ripley, Scott, Shannon, Stoddard and Wayne.

    Under this declaration, PNPs providing non-critical services of a governmental nature impacted by physical damages or financial losses directly related to the disaster are eligible to apply for both business physical damage loans and Economic Injury Disaster Loans (EIDLs) from the SBA. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools, and colleges.

    PNPs may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as verified by the SBA, for mitigation purposes.

    EIDLs are for working capital needs caused by the disaster and are available even if the PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    “SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”

    Interest rates are as low as 3.62% for PNPs with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. The SBA will set loan amounts and terms based on each applicant’s financial condition.

    The SBA encourages applicants to submit their loan applications promptly. Applications will be prioritized in the order they are received, and the SBA remains committed to processing them as efficiently as possible.

    To apply online, visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The deadline to return physical damage applications is July 21, 2025. The deadline to return economic injury applications is Feb. 23, 2026.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Norma Torres joins Rep. Nanette Barragán in Urging Trump Administration to Protect Head Start Funding

    Source: United States House of Representatives – Congresswoman Norma Torres (35th District of California)

    May 28, 2025

    WASHINGTON, D.C. — Today, U.S. Representative Norma Torres (CA-35) joined Nanette Diaz Barragán (CA-44) in sending a letter to President Donald Trump and Health and Human Services Secretary Robert F. Kennedy, Jr., urging them to safeguard federal funding for the Head Start program. The letter comes in response to alarming reports that the Trump Administration considered eliminating Head Start funding during recent federal budget discussions.

    “From Los Angeles County to the Central Valley to rural tribal lands, Head Start provides comprehensive early learning, health, nutrition, and family support services to children who are disproportionately impacted by poverty and housing instability,” wrote the members. “These essential services support our state’s economy by allowing parents to work and go to school, while giving our future workforce the strong start that they need to be successful later in life.”

    California is home to one of the largest populations of Head Start children in the nation. In Fiscal Year 2023 alone, Head Start and Early Head Start programs served more than 94,000 children across the state. These programs offer critical support to children by integrating early education with health, nutrition, and family services—providing targeted support to those experiencing poverty, housing insecurity, and systemic inequities.

    “The elimination or reduction of Head Start funding would be catastrophic,” the letter states. “In California, it would shut the doors of 1,835 Head Start and Early Head Start Centers and eliminate access to early education for tens of thousands of children—disproportionately children of color, English learners, children with disabilities, and those living in low-income and rural communities.”

    Since its founding in 1965, Head Start has served over 40 million children and families nationwide. Decades of research confirm that the program improves school readiness, boosts long-term academic and employment outcomes, and helps break the cycle of poverty.

    “Head Start is not optional—it is a national commitment that must be honored,” the members added. “I will continue fighting to protect this vital investment in our children’s futures.”

    The letter was co-signed by each of the 45 Democratic members of the California Congressional Delegation: Senators Alex Padilla and Adam Schiff, and Representatives Pete Aguilar, Nancy Pelosi, Robert Garcia, Linda Sánchez, John Garamendi, Kevin Mullin, Mark Takano, Ted Lieu, Julia Brownley, Maxine Waters, Laura Friedman, J. Luis Correa, Ro Khanna, Mike Thompson, Mark DeSaulnier, Juan Vargas, Gilbert Ray Cisneros, Jr., Judy Chu, Derek Tran, Raul Ruiz, Jared Huffman, Doris Matsui, Salud Carbajal, Brad Sherman, Ami Bera, Jimmy Panetta, Zoe Lofgren, Eric Swalwell, Lateefah Simon, Dave Min, Jimmy Gomez, Sydney Kamlager-Dove, Jim Costa, George Whitesides, Luz Rivas, Sara Jacobs, Scott Peters, Josh Harder, Adam Gray, Mike Levin, and Sam Liccardo.

    The full letter can be found here and below:

    President Trump and Secretary Kennedy:

    We write today to express serious concern over reports that your Administration considered proposals to eliminate federal funding for the Department of Health and Human Services’ Head Start program in recent budget discussions. While we are relieved that the White House Office of Management and Budget’s Fiscal Year 2026 proposal did not include this cut, that such an action was even contemplated underscores the vulnerability of this vital program under your Administration. As members of the California Congressional Delegation, we urge you to safeguard this critical program, which plays an irreplaceable role in supporting California’s children and families, especially those facing economic hardship and systemic barriers.

    California is home to one of the largest populations of Head Start children in the nation. In Fiscal Year 2023 alone, more than 94,000 children and pregnant women in California were served by Head Start and Early Head Start programs.[1] These services are not just beneficial—they are essential. From Los Angeles County to the Central Valley to rural tribal lands, Head Start provides comprehensive early learning, health, nutrition, and family support services to children who are disproportionately impacted by poverty and housing instability. These essential services support our state’s economy by allowing parents to work and go to school, while giving our future workforce the strong start that they need to be successful later in life.

    Since its founding in 1965, Head Start has supported more than 40 million children and their families nationwide—and millions in California alone.[2] Research continues to confirm what educators and parents have long known: Head Start works. It boosts school readiness, improves long-term academic outcomes, increases high school graduation and employment rates, and helps break cycles of generational poverty.

    The elimination or reduction of Head Start funding would be catastrophic. In California, it would shut the doors of 1,835 Head Start and Early Head Start Centers and eliminate access to early education for tens of thousands of children—disproportionately children of color, English learners, children with disabilities, and those living in low-income and rural communities.[3] Thousands of parents would also lose their ability to go to work or school, and otherwise participate in the economy.

    Head Start is not optional—it is a national commitment that must be honored. For these reasons, we urge you to reject any future attempts to weaken or eliminate this program and to ensure its continued success for the children and families who rely on it every day.

    ###

    MIL OSI USA News –

  • MIL-OSI Security: Independence Man Charged with Cocaine Trafficking, Illegal Firearms

    Source: Office of United States Attorneys

    KANSAS CITY, Mo. – An Independence, Mo., man has been charged in federal court with possessing over two kilograms of cocaine and illegally possessing three firearms.

    Jacob N. Dodge, 26, was charged in a criminal complaint filed in the U.S. District Court in Kansas City, Mo. on Tuesday, May 27.  The complaint charges Dodge with participating in a conspiracy to distribute cocaine, possessing cocaine with the intent to distribute, and possessing firearms in furtherance of a drug trafficking crime.

    The complaint alleges investigators attempted to arrest Dodge on May 23, 2025 after a controlled drug evidence purchase. Members of the Kansas City, Mo. Police Department Tactical Unit attempted to initiate a high-risk car stop utilizing a Vehicle Intervention Tactic, also known as a “VIT”.  Dodge maneuvered his vehicle out of the VIT and fled at a high rate of speed.  Three tactical vehicles attempted the VIT maneuver again, and Dodge purposely struck the occupied police vehicles with his vehicle.  Police successfully disabled Dodge’s vehicle in the front yard of a residence and arrested Dodge. Investigators executed a federal search warrant on Dodge’s residence and searched Dodge and his vehicle after he was arrested.

    Investigators found over 2 kilograms of cocaine, 290 kilograms of marijuana, 251 kilograms of THC wax, 852 kilograms of THC vapes, 125 kilograms of THC syrup, 44 kilograms of THC edibles, 24 kilograms of miscellaneous THC items, 35 kilograms of THC resin, 5 kilograms of psilocybin mushrooms, 250 kilograms of psilocybin mushroom bars, and 46 grams of LSD. Investigators also found $78,943 in cash and 6 firearms.

    The charges contained in this complaint are simply accusations, and not evidence of guilt. Evidence supporting the charges must be presented to a federal trial jury, whose duty is to determine guilt or innocence.

    This case is being prosecuted by Special Assistant U.S. Attorney Jessica L. Jennings. It was investigated by the Kansas City, Missouri Police Department, the FBI, IRS-Criminal Investigations, the Independence, Missouri Police Department, and the Johnson County, Kansas Sheriff’s Office.

    KC Metro Strike Force

    This prosecution was brought as a part of the Department of Justice’s Organized Crime Drug Enforcement Task Forces (OCDETF) Co-located Strike Forces Initiative, which provides for the establishment of permanent multi-agency task force teams that work side-by-side in the same location. This co-located model enables agents from different agencies to collaborate on intelligence-driven, multi-jurisdictional operations against a continuum of priority targets and their affiliate illicit financial networks. These prosecutor-led co-located Strike Forces capitalize on the synergy created through the long-term relationships that can be forged by agents, analysts, and prosecutors who remain together over time, and they epitomize the model that has proven most effective in combating organized crime. The principal mission of the OCDETF program is to identify, disrupt, and dismantle the most serious drug trafficking organizations, transnational criminal organizations, and money laundering organizations that present a significant threat to the public safety, economic, or national security of the United States.

    MIL Security OSI –

  • MIL-OSI: Kommunitas Sets New Milestone with $34.87M Raised, Pioneers Safer Token Launch Alternatives

    Source: GlobeNewswire (MIL-OSI)

    Kommunitas, a leading decentralized crowdfunding ecosystem, proudly announces a major achievement in its journey: successfully raising $34.87 million through 236 launched projects with participation from 12,684 unique wallets as part of its flagship IKO (Initial Kommunity Offering) program. This milestone reaffirms Kommunitas’ reputation as a powerful launchpad for early-stage crypto ventures and an inclusive platform empowering global communities.

    Redefining Fair Launch: Kommunitas Gears Up to Rival Pump.fun
    JAKARTA, Indonesia, May 28, 2025 (GLOBE NEWSWIRE) — Kommunitas is preparing to disrupt the DeFi launchpad landscape with its upcoming fair launch platform, a robust and transparent alternative aimed at challenging the dominance of Pump.fun. With a target of capturing 5% of its rival’s market share, the new Kommunitas Fairlaunch platform addresses critical flaws in current models—such as rug pulls, bot manipulation, and a lack of transparency—by introducing investor-centric safeguards and decentralized participation mechanisms.

    Key innovations include a refundable mechanism that returns investor funds if a token fails to reach its pool target within seven days, and anti-whale measures that cap wallet purchases at 1% of the total supply to ensure fairness. KYC-enabled livestreams will foster real-time, accountable engagement between project founders and the community, while a revenue-sharing model rewards KOM stakers with a portion of fees and token supply from successful launches. Together, these features set a new standard for secure, fair, and community-driven token launches in the Web3 space.

    “Our community has propelled us to raise $34.87 million and launch 236 projects, and we’re just getting started,” said Robby Jeo, CEO of Kommunitas. “KOM Fairlaunch is our answer to the demand for safer, fairer token launches. Unlike platforms like Pump.fun, we prioritize security, fairness, and community rewards—setting a new standard for the industry.”

    Empowering the Community with Launchvote: A Zero-Fee Launch Revolution

    To further strengthen its commitment to decentralization and community empowerment,
    Kommunitas has introduced Launchvote—a monthly, zero-fee initiative that gives KOM holders the power to decide which projects get to launch on the platform for free. With the Launch Vote, projects can compete for community votes, and the most-voted project will be able to launch on Kommunitas without paying any platform fees. This zero-cost launch incentive will encourage projects to mobilize their communities, bringing more engagement and organic growth to the Kommunitas ecosystem. From the 15th to 20th of each month, users who stake at least 3,000 KOM receive KOMV tokens, enabling them to vote for the most promising projects vying for a cost-free launch slot.

    This democratic approach promotes full community governance, eliminates platform fees for winning projects, and fuels deeper engagement across the ecosystem. By incentivizing projects to activate and rally their communities for votes, Launchvote not only increases participation but also fosters organic growth and transparency. It stands as a testament to Kommunitas’ mission of building a more inclusive and sustainable Web3 launchpad.

    About Kommunitas:
    Kommunitas is a decentralized and tier-less crowdfunding ecosystem enabling startups and blockchain projects to launch and grow through fair, transparent, and community-governed mechanisms. With innovative programs like IKO, Fairlaunch, and Launchvote, Kommunitas is redefining what it means to build in Web3—openly, collaboratively, and securely.

    For more information, visit kommunitas.net

    Contact Information:
    Robbie Jeo, CEO
    Email: bizdev@kommunitas.net

    Disclaimer: This is a paid post and is provided by Kommunitas. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/7ecf270c-4812-4d51-93b8-d7413e12594a

    https://www.globenewswire.com/NewsRoom/AttachmentNg/2a52398a-0441-4314-9c1f-55531c39721f

    The MIL Network –

  • MIL-OSI: Chillpepe Reinvents the Memecoin Model with Real Utility, DeFi Integration, and AI-Powered Safety Layers

    Source: GlobeNewswire (MIL-OSI)

    With $CEPE at the center, Chillpepe introduces a new standard for memecoins, combining high-yield staking, decentralized tools, and anti-scam mechanisms to earn the trust of the Web3 community.

    MIAMI, May 28, 2025 (GLOBE NEWSWIRE) — Chillpepe, an emerging memecoin project built on Ethereum, is taking bold steps to bridge the gap between fun-driven community tokens and real-world financial tools. By integrating $CEPE with staking mechanisms, AI-powered safety protocols, and practical launchpad governance, Chillpepe aims to deliver a full-stack ecosystem that protects users while empowering creativity and growth.

    While many memecoins have historically been driven by hype and short-term speculation, Chillpepe introduces a structure of trust, utility, and sustainability to the genre. The project’s mission is not just to entertai, but to provide real, accessible tools for token creation, decentralized fundraising, and passive income generation.

    Redefining Memecoin Trust through DeFi Mechanics

    Chillpepe anchors its utility around $CEPE, an ERC-20 token that fuels every feature within its platform. To encourage long-term participation, the project offers a staking mechanism with dynamic APY, calculated monthly and optimized to reward long-term holders. Users who stake their $CEPE can earn yields up to 180% p.a, while also unlocking access to presale events and early-phase listings on Chillpad.

    Unlike many tokens with vague use cases, $CEPE plays a crucial role in three core systems:

    – Staking & Yield Farming: Locking $CEPE earns dynamic returns and enables participation in future token launches.

    – Tool Access Fees: Access to platform tools—such as Pecasso (AI Meme Generator) and Chillpepe Tokenator (no-code token builder)—requires $CEPE as a native payment token.

    – Launchpad Participation: Projects seeking to list on Chillpad must deposit and stake $CEPE, serving as both a financial and reputational commitment to the community.

    This circular token utility model not only increases demand but also creates a strong alignment between developers, early investors, and the broader community.

    Chillpad: A Smarter, Safer Launchpad for New Projects

    At the heart of the Chillpepe ecosystem is Chillpad, a launchpad purpose-built for memecoins and community-driven projects. Unlike traditional launchpads that rely solely on manual reviews or hype, Chillpad introduces AI-assisted vetting tools to evaluate project quality before listing.

    The built-in risk filter assesses code integrity, team transparency, and roadmap viability—ensuring that only trustworthy projects are presented to the Chillpepe community. This system significantly reduces the risk of rug pulls and scams, which have plagued the memecoin space in recent years.

    Furthermore, community members who stake $CEPE can gain early access to vetted projects, participate in fee-sharing mechanisms, and help govern which listings move forward. The result is a launchpad model that prioritizes transparency, fairness, and long-term value creation.

    A Full-Stack Ecosystem, Powered by AI and Community Vibes

    Beyond its launchpad and token utilities, Chillpepe offers a range of decentralized tools tailored for creators and builders in the Web3 space:

    – Pecasso: An AI-powered meme creation tool that helps users generate viral content, avatars, banners, and NFTs — regardless of their design experience.

    – Chillpepe Tokenator: A no-code interface to deploy ERC-20 tokens safely and instantly, complete with anti-rug measures and audit-based templates.
    – Integrated Wallet Access: Seamless connection to wallets such as MetaMask, enabling smooth onboarding and direct participation in staking, purchases, and governance.

    By combining AI innovation with decentralized architecture, Chillpepe offers an experience that is both secure and user-friendly—making it easy for anyone to become a creator, investor, or community contributor.

    Community-Driven, Globally Connected

    Chillpepe recognizes that trust in Web3 begins with transparency and shared values. The project’s ongoing community growth is supported by active engagement across major platforms and international outreach campaigns. Through meme contests, staking incentives, and educational content, Chillpepe is building a global base of holders, builders, and collaborators.

    Explore Chillpepe online:

    Telegram: https://t.me/chillpepediscussion

    Twitter/X: https://x.com/Chill_PEPE2025

    YouTube: https://www.youtube.com/@ChillPepe2025

    Instagram: https://www.instagram.com/chillpe.pe/

    Website: www.chillpepe.ai

    Contact: hi@chillpepe.ai

    Name: Pepper Mintz

    About Chillpepe

    Chillpepe is a decentralized memecoin project built on Ethereum, designed to combine community energy with financial innovation. By leveraging smart contracts, staking rewards, AI-powered tools, and a secure launchpad ecosystem, Chillpepe provides users with a trusted platform for creating, holding, and launching tokens. $CEPE is the native token driving this ecosystem, powering utility access, staking rewards, and launchpad governance.

    Disclaimer: This press release is provided by Chillpepe. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/30eda3e1-ef54-49a9-b053-dc8c3d98f96f

    https://www.globenewswire.com/NewsRoom/AttachmentNg/356734f1-7e14-42f7-a2c4-8289c0457775

    https://www.globenewswire.com/NewsRoom/AttachmentNg/431a1c66-6789-4b7c-be59-bbdc19af850e

    The MIL Network –

  • MIL-OSI United Kingdom: Councillors to review parking changes

    Source: City of York

    Following feedback from local residents and businesses, several changes to car parking charges are being considered at June’s Executive Meeting.

    In April, new pricing for car parking was introduced after being approved at Budget Full Council.

    Since the implementation of the new charges, the council has listened to residents and businesses most affected by the changes who have shared their concerns.  

    As a result,  Executive will review the parking arrangements at the meeting on 3 June 2025 and consider a number of proposed changes. Executive will also be asked to agree to a consultation as part of a review of the impact of carparking charges on the economy and communities, the outcome of which will be taken to a future Executive meeting.

    An initial analysis of the economic impact is very positive, with Parliament Street showing an increase in footfall of 28.7% year on year comparing April figures and an increase in spend of 3.7% year on year, continuing to buck the national trend. 

    Councillor Claire Douglas, Leader of City of York Council said: 

    We have recognised the strength of feeling and feedback from local communities following the implementation of new parking charges and continue to listen to concerns. At the upcoming Executive meeting we will consider a number of options which seek to address the issues raised, while still supporting our ambitions to develop a healthier, more sustainable and better connected city.

    “Setting a budget is never easy and we are very grateful for those who responded to the consultation carried out over several months last year, whether attending a workshop or filling in our survey.  I look forward to having further discussions.”

    Councillor Kate Ravilious, Executive Member for Transport said:

    Money from car parking goes straight back into improving our highways and public transport. This year we have increased investment in our highway maintenance programme to £10M, meaning more potholes are being repaired on York’s roads – with over 9,000 repaired last year alone.

    “We are also investing over £50M in sustainable travel improvements, including ticket concessions for young people, better real time information and in the Station Gateway scheme which includes a bus interchange. This is all focused on making it easier for everyone to get around. To do this we must tackle congestion which residents have told us has a detrimental impact on how they live and work in the city, including their health and wellbeing.

    “In recent weeks I have been listening to local residents and businesses. Everyone’s love and support for our incredible independent businesses has shone through.. One of the great strengths of the city is the vibrant local economies that residents enjoy in their local areas. We continue to listen and as a result we are looking at reviewing some of the parking charges in line with our transport strategy and using a data led and evidence based approach.”

    At the meeting, Executive will consider a range of interim options which could be introduced while a review into the impact of the car parking charges takes place. These include:

    • approving an increase in the discount for the Minster Badge to 30% of the standard parking charge, from the current 24% to reduce the impact of increased parking charges on residents
    • maintaining existing pricing at all city centre car parks
    • introduce an “outside the inner ring road” lower parking rate including Bishopthorpe Road, which it’s proposed is moved in line with charges approved for community car parks at East Parade and Rowntree Park in the council’s 2025-26 Budget. This would mean Bishopthorpe Road car park would become £3 per hour with a maximum stay of three hours, it would be £2.10 per hour for Minster Badge holders. It will also mean no Friday, Saturday or event uplift and no evening charge in these car parks
    • approving the adjustment of charges in the Micklegate and Priory Street area to the ‘outside the inner ring road’ on-street parking rate, rather than its existing higher city centre rate to recognise the anomalously low parking charges in this area previously and to give local businesses time to adjust. This will be reviewed in the future. City centre evening parking rates for this area will still apply.
    • approving that East Parade Car Park should remain matched to the ‘outer’ on-street local parking rate to ensure consistency across out of city centre parking and reflect the different nature of local shopping areas outside of the immediate city centre.
    • removing the proposed charges for dedicated motorcycle bays. to recognise that the motorcycle bays are generally in locations where a car space is not possible. 
    • increase the discount for Low Emission vehicle permits to 20%, from the current 16% discount to set a discount that better reflects the contribution of all types of vehicles to congestion and takes in account the land-use impact of vehicle parking 
    • approve that Contract Parking permits are no longer linked to Season Tickets, and will be set at last year’s prices, plus circa 5% increase, with a 20% discount for low emission vehicles to recognise the unique circumstances of the small number of residents who live within the city walls without access to Resident parking schemes.
    • to undertake a review and develop a policy position around travel to places of worship.
    • accept the challenge to review parking charges under the Traffic Management Act 2004, this will include consultation with businesses and residents and community groups.

    If approved, the new charges will need to be advertised for 21 days in accordance with legislation, meaning those charges implemented will come into effect late June/early July and be subject to a pending review.

    Should Executive approve a change to the amount paid for the low vehicle emission discount, Contract, Season and ResPark permits holders will be refunded the difference with more details of this to follow.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Kyrgyzstan places sovereign Eurobonds on international capital markets for the first time

    Translation. Region: Russian Federal

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

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

    BISHKEK, May 28 (Xinhua) — Kyrgyzstan has successfully completed its debut placement of sovereign Eurobonds on international financial markets in the amount of 700 million US dollars at a coupon rate of 7.75 percent for a period of 5 years, the press service of the Ministry of Finance of Kyrgyzstan reported on Wednesday.

    As noted by the department, the total demand from investors at the peak amounted to over $2.1 billion, which ensured an oversubscription rate three times greater than the final volume of the deal. More than 100 international investors from the US, Europe and Asia took part in the placement process.

    “Kyrgyzstan views the successful entry into the Eurobond market as an important step in strengthening the country’s investment image, attracting long-term resources for the development of infrastructure and energy, and increasing the sustainability of public finances,” the Kyrgyz Ministry of Finance said in a statement. –0–

    MIL OSI Russia News –