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Category: Economy

  • MIL-OSI: ABN AMRO Bank posts net profit of EUR 619 million in Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    ABN AMRO Bank posts net profit of EUR 619 million in Q1 2025

    14 May 2025

    Key messages

    • Solid results: Net profit of EUR 619 million, with a return on equity of around 10%
    • Good business momentum: Mortgage portfolio grew by EUR 1.7 billion and corporate loans by EUR 0.9 billion
    • Resilient net interest income despite impact from lower short-term interest rates
    • Continued fee growth: Increase of 8% compared to Q1 2024, with contributions from all client units
    • Cost discipline: Underlying costs declined 5% compared to Q4 2024; guidance for full-year 2025 unchanged
    • Solid credit quality: Impairments of EUR 5 million, reflecting net additions for individual files offset by model-related releases
    • Strong capital position: Basel IV CET1 ratio of 14.7%
    • Capital Markets Day to be held in November

    Marguerite Bérard, CEO:
    “As we reflect on the first quarter of 2025, I am honoured to address you as the new CEO of ABN AMRO. I value the trust placed in me by the Supervisory Board to lead our bank in the years to come. In the coming period, my priority will be to lead a strategic review of our activities, while building upon our solid foundations and strong market positions. We will focus on enhancing our profitability, optimising our capital position, right-sizing our cost base and achieving meaningful growth. The outcome of this review will be presented at a Capital Markets Day in November this year.

    The Dutch economy continues to demonstrate resilience, with GDP growth in recent years above the Eurozone average, low unemployment and good housing market performance. Thanks to this robust foundation, the economy is well-positioned to navigate the current uncertainties around trade tensions and geopolitical developments. In these challenging times, ABN AMRO performed well, delivering another quarter of solid results and growth in our loan books. This reflects our strategic focus on key growth areas, our credit quality and our ability to adapt to changing market conditions.

    In the first quarter of 2025, we showed solid results with a net profit of EUR 619 million and a return on equity of around 10%. This performance was underpinned by resilient net interest income, continued high fee income and limited net impairments. After a few quarters of rising costs, we managed to reduce our underlying costs in Q1 compared to the previous quarter. To deliver on our guidance of keeping underlying costs broadly flat compared to last year, cost discipline remains a priority. Therefore, we enforced increased controls on consultant expenditures and external hiring.

    Though challenging for colleagues, as we all need to adjust, it will help us reassess capacity needs and optimise our resources. By collaborating and using our creativity and talents, I believe we can deliver on our strategic ambitions while becoming a more agile organisation.

    Our strong capital position, with a Basel IV CET1 ratio of 14.7%, allows us to continue investing in our strategic priorities while maintaining financial stability. In Q1, we submitted the final application to move models to less sophisticated approaches which is now reflected in our capital ratios. The simplification will bring stability and predictability to our capital position. The largest part of our balance sheet remains under advanced models, specifically mortgages, banks and financial institutions. Portfolios that required significant modelling and data efforts will be moved to the standardised approach.

    Our continued efforts to improve customer experience resulted in an increase in our Net Promoter Score for Personal & Business Banking during the first quarter of 2025. Clients especially praise our efficient and good customer services, proactive contact, and the convenience of our digital services. This was also recognised by the 2024 Digital Leaders Study, which ranked ABN AMRO among the top performers. Tikkie, with 10 million active users, is a good example of our innovative offering. During King’s Day this year, Tikkie processed a record number of almost 700,000 transactions. We also introduced the Index Mandate, an actively-managed product that invests in underlying passive instruments. With this product we aim to attract younger clients and help them begin with portfolio management.

    We remain dedicated to sustainability. In the first quarter we launched the free online Green Building Tool which helps provide commercial real estate clients with insights into opportunities to save energy and improve their energy label. We realise that making the switch to a sustainable society is not always straightforward for our clients. A survey among over 350 business clients at our decarbonisation conference revealed challenges in the energy transition, including high capital expenditure, complexity and cost impacts. We aim to support our clients towards a low-carbon future by providing financing and expertise. One example of how we can help them is our recent agreement with the EIB Group to support Dutch SMEs with favourable financing conditions. This collaboration will enhance economic growth and the sustainability efforts of our clients. It includes the largest risk-sharing agreement with the EIB Group to date, totalling EUR 1 billion.

    ABN AMRO believes that everyday represents a new beginning for our customers, and for whom we stand ready to support. I am looking forward to my ‘new beginning’, collaborating with all my colleagues to deliver results for our stakeholders in the years to come.

    This press release is published by ABN AMRO Bank N.V. and contains inside information within the meaning of article 7 (1) to (4) of Regulation (EU) No 596/2014 (Market Abuse Regulation).

    Note to editors, not for publication:
    ABN AMRO Press Office: Jarco de Swart, E-mail: pressrelations@nl.abnamro.com, phone number: +31 (0)20 6288900.
    ABN AMRO Investor Relations: John Heijning, E-mail: investorrelations@nl.abnamro.com, phone number +31 (0)20 6282282.

    Operating results

    (in millions) Q1 2025 Q1 2024 Change Q4 2024 Change
    Net interest income 1,560 1,589 -2% 1,668 -7%
    Net fee and commission income 507 469 8% 500 1%
    Other operating income 79 139 -43% 72 10%
    Operating income 2,145 2,197 -2% 2,240 -4%
    Personnel expenses 725 656 10% 743 -2%
    Other expenses 584 600 -3% 871 -33%
    Operating expenses 1,309 1,257 4% 1,614 -19%
    Operating result 836 940 -11% 626 34%
    Impairment charges on financial instruments 5 3 52% 9 -44%
    Profit/(loss) before taxation 831 937 -11% 618 35%
    Income tax expense 212 263 -19% 220 -4%
    Profit/(loss) for the period 619 674 -8% 397 56%
    Attributable to:          
    Owners of the parent company 619 674 -8% 397 56%
               
    Other indicators          
    Net interest margin (NIM) (in bps) 154 162   167  
    Cost/income ratio 61.0 % 57.2 %   72.0 %  
    Cost of risk (in bps)¹ 1 -1   1  
    Return on average equity² 9.9 % 11.6 %   6.2 %  
    Earnings per share (in EUR)3, 4 0.69 0.76   0.43  
    Client assets (end of period, in billions) 346.9 347.1   344.4  
    Risk-weighted assets (end of period, in billions)5 141.5 144.2   140.9  
    Number of internal employees (end of period, in FTEs) 22,267 20,887   21,976  
    Number of external employees (end of period, in FTEs) 3,312 3,931   3,670  
    1. Annualised impairment charges on loans and advances customers for the period divided by the average loans and advances customers (excluding at fair value through P&L) on the basis of gross carrying amount and excluding fair value adjustments from hedge accounting.
    2. Annualised profit/(loss) for the period, excluding payments attributable to AT1 capital securities and results attributable to non-controlling interests, divided by the average equity attributable to the owners of the company excluding AT1 capital securities.
    3. Profit/(loss) for the period, excluding payments attributable to AT1 capital securities and results attributable to non-controlling interests, divided by the average outstanding and paid-up ordinary shares.
    4. For Q1 2025, the average number of outstanding shares amounted to 833,048,566 (Q4 2024: 833,048,566; Q1 2024: 860,275,379).
    5. As of 1 January 2025, the figures in the table are prepared in accordance with CRR III (Basel IV) regulations. The figures up to 31 December 2024 are prepared in accordance with CRR II (Basel III) regulations.

    Attachments

    The MIL Network –

  • MIL-OSI Russia: China, Brazil sign memorandum of understanding on strategic cooperation in financial field

    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 14 (Xinhua) — The central banks of China and Brazil signed a memorandum of understanding (MOU) on strategic cooperation in the financial field on Tuesday, the People’s Bank of China (PBOC) said.

    The PBOC said the signing of the MOU is intended to deepen cooperation between China and Brazil in areas such as improving the investment environment in the financial market, enhancing financial technical exchange, promoting financial infrastructure connectivity, etc.

    On the same day, the PBOC and the Central Bank of Brazil also extended the term of their bilateral currency swap agreement, worth a total of 190 billion yuan (about $26.39 billion), or 157 billion Brazilian reals. The agreement is for five years and can be extended by mutual agreement. -0-

    MIL OSI Russia News –

  • Anita Anand appointed Canada’s Foreign Minister; will pilot reset with India

    Source: Government of India

    Source: Government of India (4)

    Canada’s Prime Minister Mark Carney has appointed Anita Ananda to the powerful post of Foreign Minister in his new cabinet charged with fulfilling the “mandate for change”.

    He also appointed Maninder Sidhu as the international trade minister, and two others of Indian descent as secretaries of state – the equivalent of ministers of state.

    One of Anand’s missions will be to pilot the reset of the almost ruptured ties with India that Carney signalled, while managing the delicate relations with President Donald Trump’s America.

    Announcing the new cabinet of 28 ministers, he instructed them to “bring new ideas, a clear focus and decisive actions to their work”.

    Ruby Sahota, who was the minister of democratic institutions, has been downgraded to a secretary of state and put in charge of combating crime.

    Randeep Sarai is another of the ten secretaries of state and will deal with international development.

    Anand, who was the transport minister and had earlier held the defence portfolio, said in January that she was leaving politics and returning to academia.

    But Carney persuaded her to return to the cabinet and take the foreign affairs portfolio after she was re-elected in last month’s election.

    Carney, who inherited former Prime Minister Justin Trudeau’s cabinet, now has a chance to put his mark after having led the Liberal Party to victory, beating the odds in last month’s election.

    He cut the number of ministers from 39 in Trudeau’s cabinet to 28, and three politicians of Indian origin in the last cabinet do not find a place now.

    What is probably the most important portfolio during the tariff war with the US has been assigned to Dominic LeBlanc, who will be the minister responsible for Canada-US trade.

    Chrystia Freeland, who had earlier been the deputy prime minister with the finance portfolio and had challenged Carney for the party leadership, industry portfolio.

    Anand replaces Melanie Joly, who has been shunted to the transport and internal trade ministry that she had held

    Carney, who has called relations with India “incredibly important”, said of the ties with India on the eve of the elections that “there is a path forward to address those with mutual respect and to build out.”

    David McGuinty, who was the public safety minister, takes over defence.

    The new cabinet has fewer Canadians of Indian descent.

    Harjit Singh Sajjan, who was a former defence minister and held the Emergency preparedness portfolio in the last cabinet, did not seek re-election to the House of Commons and left.

    From the last cabinet, Arif Virani, who was the justice minister and attorney-general, and Kamal Khera, who held the diversity and inclusion of persons with disabilities portfolio, have been dropped by Carney.

    (IANS)

  • MIL-OSI USA: Beyer Opening Remarks In Ways & Means Markup Of Republican Tax Cut For The Wealthy

    Source: United States House of Representatives – Representative Don Beyer (D-VA)

    Congressman Don Beyer (D-VA) today delivered the following remarks during the opening stages of the House Ways and Means Committee’s markup of Republicans’ legislation to lower taxes for the wealthy while making the largest cut to Medicaid in history:

    Top-heavy tax cuts paid for by low-income benefit cuts.

    President Trump and the Republican majorities in Congress were narrowly elected – by little more than one percent – with the simple hope from the American people that they would lower costs.

    The President himself declared he would “bring prices down on day one.”

    Trump and Republicans are now breaking that promise.

    In fact, thanks in part to the unprecedented taxes Trump has imposed on the American people through his nonsensical tariff plan, prices remain high, and consumer inflation expectations have surged.

    Americans are seeing the evidence of his broken promise everywhere.

    When you buy a cup of coffee, or a used car, or a dozen eggs, we’re paying more now than we did before Trump took office.

    On top of that, under Trump’s reckless leadership, our economy took a nosedive in the first quarter of this year, the first time it’s contracted in years.

    Many other indicators are flashing red. Economic uncertainty is at a [long] time high, and the conversations around the kitchen table and in small businesses are the same: everybody’s scared.

    And that brings us to today.

    My Republican friends are hoping this multi trillion-dollar giveaway to the wealthy will somehow dig them out the hole the President has gotten them into.

    If history is any guide, more tax breaks for the rich won’t do much, if anything, to put the economy on firmer footing or provide lasting assistance for working- and middle-class Americans.

    Their model is the 2017 Tax Cuts and Jobs Act. Trump and the Republicans want to extend it here, but look at it: it failed across the board.

    Wages didn’t rise any faster, the economy didn’t grow any faster, and the bill definitely didn’t pay for itself. It just exploded our national debt.

    And just like last time, dollar for dollar, the benefits in this bill overwhelmingly skew towards the ultra-wealthy.

    It’s nice to have my friends talk about the tax cuts on tips and the tax cuts on overtime, but this is a tiny part of this bill – a distraction from what’s really going on.

    They are trying to pull a fast one on the American people, by delivering massive, long-term benefits to millionaires and billionaires, while throwing a few temporary – temporary – tax breaks to working people, timed to help them get through one election cycle.

    The folks getting the most help in this legislation are the same folks who don’t bat an eye when prices go up at the grocery store or they buy a new car or they go on vacation, or they’re affected by the tariffs that cost average Americans at least $2,800 a year, according to Yale.

    The ultra-wealthy are the very last people that need a boost on their tax returns.

    And yet, my Republican colleagues closely attend to their needs in this bill, ensuring that their rates stay low, and estates worth tens of millions of dollars don’t get taxed, and the folks who manage hedge funds keep their special carried interest tax loophole.

    Making the legislation even worse is how my Republican friends plan on offsetting its eye-watering price tag.

    They want to undermine America’s fastest-growing, most affordable energy sources, and jack up utility bills for working families, and do their friends in Big Oil a big favor in the process.

    They want to cut food assistance programs for the poorest Americans, and they’re planning on ripping health insurance away from 14 million Americans, including kids, seniors, and people with disabilities.

    I have a constituent, Chris McCauley, with spastic quadriplegia, and he uses a wheelchair.

    Medicaid pays for his equipment and support programs during the day.

    Without the help of his dedicated caregivers, and the support Medicaid provides his mother, she wouldn’t have been able to work full-time and support her family as a single mom for the past 20 years.

    These are the kinds of families that this legislation will harm.

    All to help give their rich donors a tax break they don’t need, and that won’t change their lives at all.

    Trump and the Republicans have shown what their priorities are.

    At every turn, they choose to the help the rich, often by taking money directly out of the pockets of working Americans.

    This bill will be a disaster for the American people, and will further divide our society between the thoughtlessly-comfortable and the yearning discouraged.

    Top-heavy tax cuts paid for by low-income benefit cuts.

    I urge all of my colleagues to vote no.

    MIL OSI USA News –

  • MIL-OSI China: Time-honored brands in Shanghai benefit from refined departure tax refund policy

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

    Shanghai’s tax authority has revealed a shopping rush for foreigners during the May Day holiday, with vintage brands showing renewed charm.

    Official data showed the eastern Chinese city’s sales under the departure tax refund policy soared by 150 percent year-on-year, and refund amounts jumped 170 percent from May 1 to 5.

    The surge follows China’s latest revisions to its management measures for tax refunds on shopping by overseas tourists. Notably, the refund eligibility threshold has been more than halved from 500 yuan (about 69 U.S. dollars) to 200 yuan, a move that has galvanized participation from traditional food and retail sectors.

    Century-old Shanghai food brands such as Taikang Foods and Shao Wan Sheng have already registered as refund stores, while time-honored heavyweights like Cantonese cuisine shop Xinghualou, tea house Huang Long Tai, and First Foodhall, a one-stop shop for those looking for Chinese snacks and bites, are fast-tracking their entry into the program.

    “Tax refunds not only offer price advantages to global customers but also bridge our heritage brands with the inbound tourism market. We aim to convert ‘refund opportunities’ into ‘brand loyalty,’ revitalizing these century-old names,” said Lu Yanqing, an executive at Shao Wan Sheng.

    The policy’s impact is palpable in commercial hubs like Nanjing Road, a magnet for international tourists, where Jingdezhen porcelain shops saw holiday sales climb 38.7 percent. Cultural icons such as jade, silk and inkstones are also drawing foreign shoppers, with the Shanghai Silk Department Store Co., Ltd. generating 120,000 yuan in tax-refund sales via 30 transactions since the beginning of the year.

    By blending convenience with cultural appeal, the policy is redefining “Chinese aesthetics” as a portable global commodity.

    Efforts to expand refund-enabled outlets have transformed Nanjing Road into a tax-free shopping corridor, now home to 45 refund stores spanning food, apparel, healthcare, eyewear, jewelry and art. Among them are landmarks like Caitongdetang Pharmacy, Lao Feng Xiang Jewelry, and Duoyunxuan auction house, alongside vintage retailers such as New World City and Shanghai No.1 Department Store.

    In Hongkou District, high-end qipao brand Manloulan has joined the initiative, leveraging the policy to fuse Shanghai’s cultural heritage with global tastes.

    “Our Shanghai-style qipao collections integrate intangible cultural craftsmanship with international aesthetics, resonating strongly with overseas clients. Since becoming a refund store, foreign customers now account for 40 percent of our traffic, partially driving a 35-percent sales growth in first quarter,” shared Qiu Liming, president of the brand.

    Digital upgrades further enhance the experience: shoppers can pre-fill refund forms by scanning QR codes, while electronic invoices can be integrated into the departure tax refund system automatically, slashing the processing time.

    “This efficiency boosts Shanghai’s position as a leader in tourist-friendly tax refund services,” noted Zhang Xiaochun, Manloulan’s financial manager.

    “We’ll continue refining services to ensure overseas travelers benefit from tax refunds and feel the vibrancy of China’s consumer market,” a Shanghai tax bureau official said. 

    MIL OSI China News –

  • MIL-OSI China: A glimpse of low-altitude economy development across China

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

    A drone developed by Phoenix Wings, a cargo Unmaned Aerial Vehicle (UAV) company under China’s express delivery giant SF Group, is pictured at the launching ceremony of the first batch of low-altitude economy (LAE) regulatory sandbox pilot projects held in Hong Kong, south China, March 20, 2025. As an important driving force of new economic momentum, the low-altitude economy is viewed by many as a key strategic emerging industry.

    China has witnessed rapid technological and industrial development in the low-altitude economy in recent years, and the sky below 1,000 meters across the country is becoming more and more “busy”.

    At present, the country’s major information and communication companies, as well as power battery, motor and other companies are actively participating in the low-altitude economy, and innovative elements in various fields are gathering in the low-altitude industries. (Xinhua/Chen Duo)

    1   2   3   4   5   6   7   8   >  

    MIL OSI China News –

  • MIL-OSI: Best Loans For Bad Credit: Upstart’s Guaranteed Personal Loans with No Credit Needed for Scores Below 580

    Source: GlobeNewswire (MIL-OSI)

    SAN CARLOS, Calif., May 14, 2025 (GLOBE NEWSWIRE) — When you’re struggling with bad credit, it can feel like your financial options are extremely limited. The thought of applying for a loan can be intimidating, especially when so many lending institutions seem to turn you down because of your credit history. However, having a bad credit score doesn’t mean you’re out of options.

    In fact, there are specialized loans designed specifically for individuals in situations like yours. These loans can help you get the funds you need for medical emergencies, debt consolidation, home improvements, or even a new car.

    Click here to apply for a personal loan for bad credit and explore your options now!

    Many lenders now offer flexible terms and more accessible criteria to help those with less-than-perfect credit scores. With careful research, you can find trustworthy lenders that provide practical solutions without falling into high-interest traps or predatory lending practices.

    The key is knowing where to look, and understanding the features of the best loans for bad credit. These loans are not necessarily as bad as they may sound; in fact, many of them come with transparent terms, reasonable rates, and, importantly, a chance for you to rebuild your credit over time.

    In this article, we’ll explore the best loans for bad credit in 2025. We’ll break down what makes a loan suitable, how to apply for one, and which lender we recommend based on thorough research.

    Upstart – Our No. 1 Pick for Bad Credit Loans

    After reviewing a wide range of lenders that cater to bad credit borrowers, Upstart stands out as the best choice. Upstart is an innovative online lender that uses AI to evaluate applicants, making it more accessible for people with low credit scores or limited credit histories.

    Unlike traditional lenders, Upstart doesn’t solely rely on your credit score. Instead, it considers additional factors such as your education, employment, and income to assess your loan eligibility.

    While many traditional lenders would reject you based solely on your credit score, Upstart takes a more holistic approach. It offers flexibility and faster approval processes, making it our top pick for individuals looking for loans despite having a bad credit score.

    Click here to apply with Upstart—no credit score requirement and fast approval!

    Loan Amounts, APR Range, and Repayment Terms

    Upstart offers personal loans ranging from $1,000 to $50,000, with APRs varying between 6.70% and 35.99% depending on the borrower’s creditworthiness and the loan terms. These terms are competitive, and the rates are generally lower than many other bad credit loan providers, although higher than standard loans for those with excellent credit.

    Upstart’s repayment terms are fixed at 36 or 60 months. While this may seem limited compared to lenders offering a broader range of terms, it allows borrowers to plan their repayments over manageable time periods. This is particularly helpful for individuals looking for a structured and predictable payment schedule.

    Click here to compare loan terms and find the best rate for you now!

    Why It’s the Top Pick

    There are several reasons why Upstart has earned the top spot for best loans for bad credit in 2025:

    1. Lower Credit Score Requirements: Upstart accepts borrowers with credit scores as low as 300. For college students or recent graduates, there’s no credit score requirement at all.
    2. AI-Driven Loan Decisions: The platform’s AI technology considers multiple factors beyond just credit score, such as education, employment, and income, improving the chances of approval for those with bad credit or thin credit files.
    3. Fast Funding: Upstart provides funds as soon as the next business day after approval, which is ideal for borrowers who need fast access to cash.
    4. No Prepayment Penalty: Borrowers can repay their loans early without incurring any penalties, which is a significant advantage for those looking to reduce the interest paid over the life of the loan.

    Click here for fast, flexible funding—apply now to get the loan you need with no credit score requirement!

    What Is a Bad Credit Score?

    A bad credit score typically refers to a credit score below 580. Scores in the 580-669 range are considered “fair” credit, and scores below 580 are considered poor. A bad credit score indicates that the borrower has a history of financial difficulties, such as missed payments, defaults, or high debt-to-income ratios—all factors that affect the types of loans available to you.

    Understanding your credit score and how it impacts your loan options is key when searching for the best loans for bad credit.

    Credit scores are determined by several factors:

    • Payment History: Whether you’ve paid your bills on time.
    • Credit Utilization: The percentage of your available credit you are using.
    • Length of Credit History: The age of your credit accounts.
    • Recent Inquiries: How often you’ve applied for new credit.
    • Types of Credit Used: The variety of credit accounts you hold.

    While a bad credit score can significantly affect your ability to get approved for loans from traditional lenders, platforms like Upstart are more flexible and are willing to consider other factors beyond just your score.

    Example Scenario: Who This Is Best For

    Consider Sara, who has a credit score of 550 due to missed payments on her credit cards in the past. She needs $8,000 to cover medical bills after a sudden emergency. Sara has been rejected by her bank and a few other lenders due to her credit history.

    However, with Upstart, she was able to complete a simple online application, was matched with a lender that offered her a 36-month loan with an APR of 18.99%, and received the funds the same day. By making timely payments, Sara is not only able to take care of her medical bills but is also improving her credit score.

    What Are Bad Credit Loans?

    Bad credit loans are financial products designed to help individuals with poor credit histories access funds when needed. Traditional banks and financial institutions typically rely heavily on your credit score to approve loans, but bad credit loans offer a more inclusive approach.

    These loans may come with higher interest rates due to the risk involved, but they provide an opportunity for borrowers to obtain financial assistance and rebuild their credit.

    There are several types of bad credit loans:

    • Personal Loans: Unsecured loans typically offered by online lenders, which can be used for various purposes such as consolidating debt or covering emergency expenses.
    • Secured Loans: Loans that require collateral, such as a car, home, or savings account, to secure the loan. These loans may offer lower interest rates compared to unsecured loans.
    • Payday Loans: Short-term loans often offered by payday lenders. These loans can have extremely high-interest rates and should be avoided unless absolutely necessary.
    • Peer-to-Peer Loans: Loans that are funded by individuals rather than traditional financial institutions. These loans may come with more flexible terms and lower interest rates.

    Eligibility & Application Process to Get a Loan with Bad Credit

    One of the significant advantages of applying for a loan with Upstart is its inclusive eligibility criteria. Unlike traditional lenders, Upstart doesn’t require a high credit score or an extensive financial history.

    This makes the application process more accessible for borrowers who may have been rejected by other financial institutions due to bad credit or a thin credit file.

    Click here to start your application and get matched with the best loan offers in minutes!

    Minimum Credit Score

    Upstart is uniquely flexible when it comes to credit score requirements. There is no official minimum credit score to apply for a loan. While Upstart does consider your credit history, it doesn’t make it the sole deciding factor. This is especially beneficial for borrowers who may have a credit score in the lower range or no credit history at all.

    Upstart uses an innovative AI-driven model that considers other important factors, such as income, employment history, education, and debt-to-income ratio. These factors are weighed alongside your credit score to assess your ability to repay the loan, which allows for higher approval rates and more tailored loan offers.

    This broader approach to evaluating loan applications means that borrowers with bad or limited credit histories have a real opportunity to secure the funds they need without the pressure of needing to “fix” their credit first.

    Required Documents

    The application process with Upstart is entirely digital and streamlined for ease. There’s no need for you to visit a branch or upload numerous documents. The entire process can be completed online in just a few minutes. You will need to provide basic information, which typically includes:

    • Full name and contact details
    • Proof of income or employment (self-reported is acceptable)
    • Bank account details (for loan disbursement)
    • Valid identification (to verify your identity)

    In some cases, Upstart may request additional documentation or verification, but this is typically done electronically after the initial application is processed. The platform strives to make the process as hassle-free as possible, ensuring you can apply and potentially receive approval without unnecessary delays.

    Approval Time and Disbursement

    One of the standout features of Upstart is its speed. After submitting your short application, the approval process is often instant, meaning you’ll know within minutes whether you’ve been approved for a loan.

    If you’re approved and matched with a lender, funds are typically disbursed the same day, and in many cases, as quickly as within 1 business day. For borrowers facing urgent financial needs, such as medical bills or car repairs, this fast turnaround is a game-changer.

    Overall, Upstart’s streamlined and efficient application process, along with quick approval and disbursement times, makes it an excellent choice for individuals who need access to funds without the long waiting periods associated with traditional lending methods.

    Click here to apply and get your loan funds within 24 hours!

    How to Apply Online

    Applying for a loan with Upstart is simple:

    1. Visit the Upstart website and select your loan amount.
    2. Fill out the online application with basic personal and financial details.
    3. Review your loan offer, including APR, terms, and repayment schedule.
    4. Accept the loan terms and sign the agreement.
    5. Receive your funds directly into your bank account.

    Pros and Cons

    Pros:

    • Low credit score requirement (as low as 300)
    • AI-driven loan approvals that consider factors beyond credit score
    • Fast approval and funding (as quickly as 1 business day)
    • No prepayment penalties
    • Flexible loan amounts ranging from $1,000 to $50,000

    Cons:

    • Origination fees may be as high as 12%, depending on your credit history
    • Limited repayment terms (only 36 or 60 months)
    • No cosigner option available for better rates

    Why It’s Hard to Get Loans with Bad Credit

    Securing a loan with bad credit is challenging primarily because traditional lenders, such as banks, rely heavily on credit scores to assess the risk of lending money. A low credit score signals to lenders that you have a history of financial instability, such as missed payments, defaults, or high debt-to-income ratios.

    As a result, these lenders consider you a high-risk borrower, which leads to either outright loan rejection or approval under unfavorable terms, such as higher interest rates, shorter repayment periods, and substantial fees. This makes it difficult for individuals with bad credit to access loans that offer fair terms.

    Moreover, even when loans are available, they often come with exorbitant interest rates and fees, making it hard to pay off the loan and ultimately worsening the borrower’s financial situation. Payday loans, for example, offer quick access to cash but often come with annual percentage rates (APRs) that can exceed 400%.

    These high rates trap borrowers in a cycle of debt, forcing them to take out additional loans to repay the original one. Unfortunately, many people with bad credit are stuck in this cycle, as traditional financial institutions continue to prioritize low-risk applicants with good credit scores, leaving those with poor credit without accessible and affordable loan options.

    Fortunately, platforms like Upstart are challenging this model by offering more inclusive loan products that consider factors beyond just credit scores, such as education, employment, and income.

    This innovative approach not only helps borrowers with bad credit gain access to loans but also provides a fairer lending process that avoids the pitfalls of predatory lending. By focusing on a broader range of eligibility criteria, Upstart makes it easier for individuals with bad credit to secure a loan without being punished by high fees or interest rates.

    Click here to see your personalized loan options with Upstart—Get approved with no credit score requirement!

    What to Look for in a Bad Credit Loan

    When applying for a loan with bad credit, it’s important to focus on these key features to ensure you’re getting one of the best loans for bad credit:

    Fair Interest Rates

    Look for loans with reasonable interest rates, ideally below 36% APR, to avoid predatory lending. High rates can make it harder to pay off your debt and lead to financial stress. Compare APRs from multiple lenders to find the best deal.

    No Prepayment Penalties

    Choose a loan that doesn’t penalize you for paying off the loan early. No prepayment penalties give you the flexibility to pay down your debt faster and save on interest if you come into extra money.

    Soft Credit Checks

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    Fast Disbursement

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    Clear Terms

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    How to Find Personal Loans for Bad Credit

    To increase your chances of securing a personal loan with bad credit, follow these steps:

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    5. Understand terms and conditions
    6. Be ready to offer collateral if necessary
    7. Avoid payday lenders
    8. Consider a co-signer for better rates

    Where to Find Bad Credit Loans

    There are several types of lenders that offer bad credit loans:

    1. Online Lenders: Platforms like Upstart offer fast, convenient loan applications.
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    4. Community Banks: Smaller, local banks may have more flexible lending terms.
    5. Nonprofit Lenders: Some nonprofit organizations offer low-interest loans to those with bad credit.

    FAQs About Bad Credit Loans

    Q: Is it possible to get a $3,000 loan with bad credit?
    Yes, many online lenders, like Upstart, can help you secure a $3,000 loan despite bad credit.

    Q: Can I get a loan with a 500 credit score?
    Yes, lenders like Upstart still consider borrowers with scores around 500.

    Q: Who can give me money right now?
    If you need immediate funding, online lenders like Upstart can approve your loan and disburse funds within one business day.

    In Conclusion: The Best Loans for Bad Credit in 2025

    For individuals with bad credit seeking flexibility, quick funding, and a streamlined approval process, Upstart presents a strong option. Whether you need to consolidate debt, cover medical expenses, or manage an emergency, Upstart’s AI-powered platform connects borrowers with lenders offering competitive rates and suitable loan terms—ideal features to look for when searching for the best loans for bad credit.

    For example, if your credit score is around 550 and you’re seeking a larger loan, Upstart’s unique approach could help match you with lenders that understand your financial situation and offer more accessible terms.

    Ultimately, Upstart distinguishes itself as one of the best loans for bad credit, offering a quicker approval process, fairer rates, and a chance to improve your financial standing through responsible borrowing. For those struggling with bad credit, exploring platforms that prioritize more than just your credit score could open doors to better loan opportunities, making Upstart a noteworthy option to consider in 2025.

    Check your loan options today and see how you can get the funds you need. Apply now for a quick and easy process.

    Project name: Upstart
    Full Company address: Upstart Operations Dept.
    P.O. Box 1503
    San Carlos, CA 94070
    Company website: https://www.upstart.com/
    Postal code: 94070
    Contact person: Max Fraser |
    Email: support@upstart.com

    Disclaimer: The information provided in this article is for general informational purposes only. All loan terms, interest rates, and approval criteria mentioned are subject to change and may vary based on individual circumstances. Upstart and other lenders featured may have different eligibility requirements and terms. Always review the full terms and conditions before applying for any loan. We recommend conducting your own research and consulting with a financial advisor to ensure you are making the best decision for your personal financial situation. Loan approvals, rates, and disbursements are not guaranteed and depend on the lender’s assessment of your application.

    Photos accompanying this announcement is available are:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/4d76d325-baad-4314-825d-6171fa9491b2

    https://www.globenewswire.com/NewsRoom/AttachmentNg/79f17a59-e4d8-4160-8e10-44d2e983deb4

    The MIL Network –

  • MIL-OSI United Nations: UN Secretary-General – Remarks to the Ministerial Meeting on the Future of Peacekeeping

    Source: United Nations – Peacekeeping

    [Bilingual, as delivered]

    Dear Ministers of Foreign Affairs and Defence Affairs of the Federal Republic of Germany, our generous hosts.

    Excellencies, ladies and gentlemen,

    My thanks to Germany for bringing us together at this consequential moment.

    This year marks the 80th anniversary of the United Nations.

    Our organization was founded on the conviction that peace is possible if we work as one united human family.

    That is what our peace operations are about. 

    From preventive diplomacy to peacekeeping…

    From negotiating ceasefires to helping to implement them…

    From electoral support and observer missions to de-mining operations and protection of civilians…

    To the focus of today’s Ministerial meeting — peacekeeping.

    Excellencies,

    UN Blue Helmets are the most globally recognized symbol of the world’s ability to come together to help countries move from conflict to peace.

    Peacekeepers hail from every corner of the world.

    But they are united in their commitment to peace.

    As we meet today, UN peacekeepers are hard at work helping to ensure that ceasefires are respected…

    Protecting civilians caught in the line of fire…

    Helping provide the conditions for lifesaving aid to flow to those in need…

    And laying the foundations for long-term recovery.

    In trouble spots around the world, Blue Helmets can mean the difference between life and death.

    And they are also a clear demonstration of the power of multilateral action to maintain, achieve and sustain peace.

    There is a long list of countries that have achieved durable peace with the support of UN Peacekeeping — including Cambodia, Cote d’Ivoire, El Salvador, Liberia, Namibia, Mozambique, Sierra Leone and Timor Leste.  

    Many of these countries now themselves contribute troops. 

    At the same time, we recognize that peace comes at a price.

    Through the decades, 4,400 peacekeepers have fallen in the line of duty.

    Their service and sacrifice will never be forgotten.  

    Please join me in a moment of silence to honour all those who lost their lives in the pursuit of peace.

    [MOMENT OF SILENCE]

    Thank you.

    Excellencies,

    We owe it to peacekeepers — and the populations they protect — to continue strengthening their ability to answer this call to peace.

    And to do so in the face of daunting challenges.

    Complex, intertwined and frequently borderless conflicts…

    Growing polarization and division around the globe…

    Targeting of peacekeepers through deadly misinformation spreading through social media…

    Terrorism and transnational crime, which find fertile ground in instability…

    The ongoing climate crisis that is exacerbating conflict while leaving more of the planet uninhabitable…

    All the continued trampling of international law and international humanitarian law.

    As a result, we are now facing the highest number of conflicts since the foundation of the United Nations, and record numbers of people fleeing across borders in search of safety and refuge.

    We must recognize that peacekeeping operations are only as effective as the mandates directing them, and can struggle in contexts where political support and clearly defined outcomes and solutions are absent or elusive.

    Meanwhile, we see increasing differences of views around how peacekeeping operations should work, under what circumstances, with what mandates they should be deployed, and for how long.

    And we face dramatic financial constraints across the board.

    We’ve worked to adapt in the face of these challenges.

    But we need to do more.

    Today, I want to highlight three areas of focus.

    First — help us shape peacekeeping operations that are fit for the future.     

    The Pact for the Future called for a Review of Peace Operations — including peacekeeping.

    The review will examine how we can make peacekeeping operations more adaptable, flexible and resilient — while recognizing the limitations in situations where there is little or no peace to keep.

    It will also aim to critically examine the tools we have today and propose concrete recommendations to make them fit for the future.  

    Through this review, we must ensure that the United Nations is prepared to deploy peace operations tailored to each individual conflict, while preparing for the challenges of tomorrow.

    We can draw inspiration from our UNIFIL operation, which recently developed an adaptation plan to keep peace along the Blue Line, and ensure lifesaving aid can flow to civilians in southern Lebanon.

    In the Central African Republic, we see MINUSCA protecting civilians and assisting the government to extend its reach beyond the capital where people are in desperate need. 

    In the Democratic Republic of the Congo, despite ongoing fighting, UN Peacekeepers remain in the field, protecting vulnerable populations. 

    We’re also seeking efficiencies through partnerships — from Member States to regional and sub-regional organizations, to local communities.

    Most important among them is our strong partnership with the African Union.

    Security Council resolution 2719 has lifted this partnership to a new level as we work to establish peace enforcement missions under the AU’s responsibility, supported by the United Nations through assessed contributions.

    Today, the Review of Peace Operations will need to be informed — and inspired — by your views.

    Member States make peacekeeping possible.

    They must lead the way as we strengthen it for the future.

    Second — as we make our operations more adaptable and flexible, we need to do the same in the use of our resources.

    Peace operations can only succeed when backed by robust mandates and clear, predictable and sustained contributions, both financial and logistical. 

    But these are tough times for the financing of our work across the board.

    Peacekeeping is no exception.

    It is crucial that we are able to use the increasingly limited resources we have — and use them well.

    That requires more flexible rules and processes.

    This means updating our approach to abolishing or establishing positions, and working with troop-contributing countries to ensure we can deliver.

    It means working with Member States and the UN Security Council to ensure that any new mandates are prioritized and achievable with the resources available and with a clear exit strategy.

    And it means driving efficiencies and improvements across our work in light of the continued funding challenges we face.

    Our Review of Peace Operations will work hand-in-hand with our UN80 initiative, to ensure we maximize efficiencies wherever possible, supported at every step by Member States.

    We look forward to your governments’ support and ideas as we tackle these challenges together.

    Troisièmement, nous avons besoin de votre soutien politique – qui passe notamment par les engagements que vous prendrez demain.

    Sans solution politique, les opérations de paix sont vouées à l’échec.

    Ensemble, nous devons rallier un soutien accru en faveur des solutions politiques pour toutes les missions de maintien de la paix.

    Faire avancer ces solutions politiques nécessite d’avoir les moyens nécessaires pour mener à bien nos opérations – notamment un soutien politique unifié de la part des États Membres, un leadership fort, des troupes bien préparées, du matériel et des technologies.

    Ces éléments peuvent renforcer nos opérations et améliorer sensiblement la vie des gens.

    Cela nécessite aussi un soutien de tous les États membres pour assurer la sécurité des Casques bleus sur le terrain, ainsi que le plein respect des privilèges et immunités pertinentes de notre Organisation et de son personnel.

    Nous sommes profondément reconnaissants de votre soutien et des contributions concrètes que nombre d’entre vous annonceront demain.

    Excellences,

    Le budget des opérations de la paix des Nations Unies, réparti entre les 193 États Membres, ne représente qu’une infime partie des dépenses militaires mondiales – environ 0,5 %. Ces opérations demeurent donc l’un des moyens les plus efficaces et les plus économiques de consolider la paix et la sécurité internationales.

    Toutefois, leur force est tributaire de l’engagement des États Membres à leur égard.

    Malheureusement, les opérations de maintien de la paix sont soumises a un sérieux problème de liquidité. Il est absolument essentiel que tous les Etats Membres respectent leurs obligations financières en payant les contributions intégralement et dans les temps.

    Aujourd’hui plus que jamais, le monde a besoin de l’ONU.

    Et l’ONU a besoin que les opérations de maintien de la paix disposent de tous les moyens nécessaires pour faire face aux réalités d’aujourd’hui et relever les défis de demain.

    Ensemble, faisons en sorte que les opérations de maintien de la paix de l’ONU répondent aux défis du moment, aux attentes des États Membres, et aux besoins légitimes de nos soldates et soldats de la paix – et des personnes à qui ils viennent en aide.

    Je vous remercie.

    Full translation in English.

    Full translation in French.

    MIL OSI United Nations News –

  • MIL-OSI USA: Representatives Cohen, Titus and Scholten Introduce Bill to Reauthorize the Federal-State Partnership for Intercity Passenger Rail Program

    Source: United States House of Representatives – Congressman Steve Cohen (TN-09)

    WASHINGTON – Representatives Steve Cohen (TN-9), a senior member of the Transportation and Infrastructure (T&I) Committee and a passionate advocate of passenger rail service; Dina Titus (NV-1), the Ranking Member of the Subcommittee on Railroads, Pipelines and Hazardous Materials, and Hillary Scholten (MI-3), a member of the T&I Committee, today introduced a bill to reauthorize the Federal-State Partnership for Intercity Passenger Rail (FSP) Program through Fiscal Year 2031. Currently, authorization for FSP is set to expire at the end of Fiscal Year 2026.

    The Infrastructure Investment and Jobs Act (IIJA) funded the FSP to provide competitive grants for improving existing rail corridors and developing emerging corridors. Through December of 2024, $25.7 billion in FSP grants have been awarded for crucial repairs, infrastructure improvements and new intercity rail services across the country.

    Congressman Cohen made the following statement:

    “As a longtime advocate of passenger rail service, I urge my colleagues to support the federal-state partnership that is preparing the United States for a surge in rail travel. I am looking forward to one day taking Amtrak along the recently identified Memphis-Nashville-Chattanooga-Atlanta corridor that is being funded by a Corridor ID grant and, eventually, along a route linking Memphis to Little Rock and beyond. Passenger rail is the future, and this bill ensures its ongoing support.”

    Congresswoman Titus made the following statement:

    “Funding from the Federal-State Partnership for Intercity Passenger Rail grant program is helping Brightline West bring high speed rail to Las Vegas. We need to reauthorize this critical program to improve and bring passenger rail service to more communities across the United States. Expanding service will make traveling safer and more enjoyable and be a boon to local economies.”

    Congresswoman Scholten made the following statement:

    “Connecting people to jobs, schools, and families through safe and reliable rail services are one of the smartest investments we can make to support our economy and our environment. In Michigan, we’ve already seen how programs like the Federal-State Partnership and Corridor ID help improve passenger rail services and help boost local economies. I’m proud to support this reauthorization so we can keep moving forward with better rail options for communities across the country.”

    The bill would reauthorize both the FSP program and the Corridor ID program with $7.5 billion between Fiscal Years 2027 and 2031.

    The bill is endorsed by the following organizations: Rail Passengers Association, SMART Transportation Division, Southern Rail Commission (SRC), Transportation for America (T4A)

    # # #

    MIL OSI USA News –

  • MIL-OSI USA: In Defense of the Courts and the University

    Source: United States House of Representatives – Rep Ro Khanna (CA-17)

    In Defense of the Courts and the University 

    Rep. Ro Khanna | Yale Law School | 4.15.25

    My return today is not one of nostalgia for good pizza or to relive faded dreams. I chose to come to Yale at a serious moment in the life of our Republic because the Woodward Report, issued by this very institution in 1974, defines the paramount duty of the American university: the defense of free expression and free inquiry.

    There are moments in a mature democracy — dating as far back as the prosecution of Socrates — when institutions must stand firm as guardians of free thought against the roar of the crowd.

    This is such a moment.

    In our nation, a mobocratic spirit — fanned by amoral, ambitious men — threatens not only our constitutional way of life but freedom of thought itself. For generations, American power has been checked by the Constitution and the quiet strength of reasoned debate. Politicians have bowed to the courts and stood before the people — not to silence opposition, but to answer it. 

    But today, a great anger grips the public — burned by years of war, wearied by economic stagnation, and fearful that the foreign-born among us now comprise a larger share of our population than at any point in a century. From this disquiet rises not a call to reform, but to dismantle — to cast off the judges in their robes, the scholars in their gowns, and the press with its inconvenient questions. 

    And at the head of this gathering storm stands JD Vance — calling on the President to defy the Supreme Court, and casting universities like Yale, his alma mater and mine, as the enemy.

    He claims that you here at Yale are being corrupted — taught to reject American values — as if he alone possesses the authority to define what it means to be an American, as if the life of the mind is to be excised from our nation’s story. How far we have fallen from the days when Thomas Jefferson chose not to list the presidency on his epitaph, but instead the founding of a university. 

    Jefferson understood that the life of the mind is as vital to liberty as the laws we live by, and that an educated citizenry is essential for democracy to thrive.

    Now, I remember they don’t teach much black letter law at Yale. But the President must obey court orders is about as basic as it gets. Our whole system depends on the idea that the Constitution gives the courts the power to say what the law is in any given case. In Cooper versus Aaron, the Court held that the “Constitution is the supreme law of the land,” and when specific disputes arise, the judiciary gets to decide what the law requires. In Youngstown, the Court made it clear that President Truman was limited by the Constitution and could not seize steel mills for our national defense during the Korean war because Congress did not give him that power.

    This check on executive power has not only kept the President from becoming a king — it is what has made America the most innovative and dynamic free enterprise economy in the world. We saw the fiasco of a President imposing tariffs on a whim. But imagine if he could go further: launch investigations into companies he disliked, void contracts to punish rivals, deport an immigrant business leader for political gain, or pull funding from scientists and scholars who challenge convention. 

    Those who complain that America suffers from too much regulation certainly would not want the system to be replaced with arbitrary decision making by the state. The United States has been successful because the predictability and stability the rule of law provides for long term economic investment. Unlike other nations, our business leaders do not have to worry about capricious rule changes that benefit political elites or worry about their assets being seized.

    And yet, every day that Vance tweets of defying court orders, he chips away at that trust — the invisible thread that binds our economic, social, and political life. Most recently, he defended the deportation of Abrego Garcia to a notorious Salvadoran prison — even after his own administration called it an “administrative error”. When Americans asked for due process, he answered not with reason, but with feigned rage — accusing us of sympathy for a gang member. Nine Supreme Court justices firmly rejected his claim that Abrego had no legal right to be here.

    To stir up public fury by painting due process as weakness is a timeless danger. Lincoln saw it clearly. In his Lyceum Address, he warned against mob vengeance, saying:

    “When men take it in their heads to hang gamblers or burn murderers, they should recollect that… they will be as likely to hang someone who is neither a gambler nor a murderer.”

    Without due process, Vance is as likely to destroy the life of an innocent man as he is to punish the guilty. And he does not seem to care. But Lincoln cared. He warned: 

    “The innocent… fall victims to the ravages of mob law, and thus it goes on, step by step, till all the walls erected for the defense of the persons and property of individuals, are trodden down, and disregarded.”

    We have been fortunate in our history to have leaders — like Lincoln — who appealed not to fury, but to reason. But we’ve also seen leaders, like Vance, who win public adulation by stoking anger and treating legal limits as nuisances to be ignored. Lincoln’s path is harder, slower — but it is truer to our founding, as it defends the sacred right of the individual over the exercise of impulsive power.

    Now, Vance says the President, elected by the people, should tell the Court what the Constitution means — and if the Court disagrees, let them try to enforce their ruling. That the President, as a co-equal, may simply ignore the Court’s judgment of the law. 

    In Vance’s America, the police can knock on any immigrant’s door, deport him to a dictatorship without due process, and then wash their hands of his fate, pretending that America is powerless to free someone outside our border. They did this with Abrego. They did this with Merwil Gutierrez, a 19 year old Venezuelan, who may have had no criminal record and whose heartbroken father is searching for him in vain . JD Vance, your cold indifference to the lives of vulnerable immigrants mocks every principle that this law school was built to uphold.

    Your affiliation with this law school is now a stain on the degree of every Yale graduate. I hope Yalies –alumni, student, faculty and administrators will have the moral clarity to say so plainly.

    But what about Vance’s argument that courts can be wrong?

    Here again, Lincoln teaches us. He did not accept the abhorrent Dred Scott decision as the final word, recognizing that the decision was destined to be overturned, not through blanket defiance of the judiciary, but through a legal crusade for equality. Lincoln’s reverence for the law did not weaken his moral clarity — it deepened it. He showed that his cause was not mere personal conviction, but rooted in the values and documents etched into the nation’s character. He pursued it through argument, elections, legislation, and new judicial appointments. He didn’t trample the Constitution in the name of justice — he worked through the Constitution to achieve justice. 

    And so must we.

    In our system, there is no Executive sovereignty. No Congressional sovereignty. No Judicial sovereignty. There is only popular sovereignty. The people ultimately decide what the Constitution means and what our laws should be. But that power is channeled through a constitutional framework — where the popular will must express itself through an intricate and deliberate system of elections, legislation, court decisions, appointments, and amendments. When Vance urges the President to defy that framework in the name of a false populism, he does not honor the people’s will — he undermines it. Ours is not a system of brute majoritarianism, but of constitutional self-government. To abandon that is a radical rejection of the very design of the American experiment.

    Vance has not only declared war on the courts — but on the universities. And it is no accident. As Stephen Kotkin observed in his study of Stalin, strongmen do not fear recessions or even failed wars as much as they fear the university. The greatest threat to consolidating power is not resistance — it is alternatives. Vance calls the university the enemy because he knows what lives here: historians, economists, law professors, and scientists who threaten him not with force, but with ideas.

    Why else propose raising the endowment tax from 1.4 to 35%, if not from a deep fear that the ideas presented in lecture halls may take root in the hearts of a new generation? That young Americans might see a nation not of grievance, but of promise. That is what Vance fears most—not rebellion, but the birth of new thinking. 

    If ever there were a moment in our nation’s history for the defense of liberalism — as a defense of free thought and the examined life — it is now. Those who sneer at our universities — who mock thinking, learning, and degrees for cheap applause while credentialing themselves — are engaged in rank hypocrisy. They are gatekeepers of privilege, dissuading their fellow citizens from pursuing for their families the very opportunities they seek for their own children.

    I hope university presidents will find their voice, pledging mutual support to each other, by remembering leaders like Yale’s Kingman Brewster, who stood with student protestors even when donors withdrew their support; Harvard’s James Conant, who resisted McCarthyism in the face of pressure from government and alumni; and Chicago’s Robert Hutchins, who defended the independence of scholarship against the demands of powerful business interests. Their place in history was not secured by the size of the endowment they left behind, but by the ideals they refused to abandon.

    President Garber, you’ve shown courage in standing up to the bullies in the White House. I have no doubt that Harvard—with its legacy of liberty predating the founding of our nation—will prevail over the fleeting ignorance of our time. 

    President McInnis, I hope you will follow his lead.

    And let Brewster, Conan, Hutchins, and Garber be an example for each of you. When  a student is snatched from campus and denied due process, speak up. When  a student protestor is harassed for their viewpoint, stand in their defense. When you are told to keep silent about the need for diversity by a potential employer, walk away.

    Each of us must ask: What, in this hour, are we willing to risk? What is needed is not the towering courage of a Socrates, nor even of my grandfather, who spent four years in jail as part of Gandhi’s movement for Indian independence. What is needed now are the small acts of conscience that together shape the soul of a nation.

    We may not have been able to save the deportation of Abrego or Gutierrez, but the louder we speak, the more of us who speak, the longer we speak, the more we become a human shield against an arbitrary state and resist the cold routinization of injustice. This is the time to stand up for a free society. 

    As for me, I have called out the richest man in the world, who responded by declaring on X that my career is over. I have called out J.D. Vance, who said I was a whiny congressman who disgusts him. But I have no regret.

    In speaking out, we can find direction not only from Woodward’s report celebrating free expression but also from his seminal work on the history of segregation, which Dr. King called the “bible of the civil rights movement.” Woodward reminded us that the path to Jim Crow was not inevitable. What was true of the 1890s is true today. To paraphrase Woodward: “There are still real choices to be made, and alternatives to the course that now threatens us are still available”.

    In times of crisis, this nation has often cast aside the old guard and turned to a new generation for new paths. That we were fortunate to witness Lincoln’s unlikely rise in our darkest hour is perhaps the strongest evidence of providence. The fate of liberal democracy now rests not only with those of us in Congress — it rests with you. It rests on whether you will rise to history’s call.

    I believe you will.

    MIL OSI USA News –

  • MIL-OSI USA: Davids Criticizes Administration’s Proposal to Cut Head Start Programs

    Source: United States House of Representatives – Congresswoman Sharice Davids (KS-3)

    Yesterday, Representative Sharice Davids and 89 of her Congressional colleagues criticized the Trump Administration’s efforts to eliminate critical Head Start programs that promote early childhood development and ease the burden of child care on working families. Multiple Head Start programs in the Kansas City area have already closed this year.

     

    In a letter to President Donald Trump and Department of Health and Human Services (HHS) Secretary Robert F. Kennedy, Jr., the lawmakers demanded answers from the administration about how they intend to fill the gap left by the potential elimination of Head Start and support students, teachers, and parents who benefit from these investments. 

     

    “A shutdown of Head Start programming would have devastating, far-reaching impacts for nearly half a million children, families and local communities,” the Members wrote. “Over 800,000 children benefit from attending 17,000 Head Start Centers across the country, strengthening their early education and providing developmental screenings.”

     

    “Additionally, the National Head Start Association estimates that more than one million parents who use Head Start and Early Start centers would lose necessary child care, impacting their ability to attend in-person work, causing further workforce disruptions,” the Members continued. “The impacts of these cuts would be generational and long-lasting.”

     

    The Members concluded, “While we share the administration’s goal of rooting out waste and abuse in government, attempting to defund early education programming and indiscriminately attacking our nation’s most vulnerable families is not the appropriate way to increase government efficiency.”

     

    As a first-generation college student who worked her way from Leavenworth High School to Cornell Law School, Davids understands the value of quality education for student success and our overall economy. She has long fought to protect education and child care in Kansas and has been a fierce critic of the administration’s efforts to defund the Department of Education. She has visited multiple Head Start programs in Kansas including Kansas City Kansas Public School’s Successful Beginnings, Family Conservancy, the University of Kansas Medical Center’s Project Eagle, and Olathe Public Schools Head Start.

       

    Students in early childhood education programs are less likely to repeat grades, are 25 percent more likely to graduate high school, and are four times more likely to complete a bachelor’s degree in comparison to non-Head Start students. But long-term benefits of Head Start programs are not only limited to educational success. Children in Head Start are healthier and have better social and emotional skills. In adulthood, statistics show that former Head Start students experience greater economic stability and earn higher wages.

    You can read the full letter here. 

    MIL OSI USA News –

  • MIL-OSI USA: Davids Continues Farm Bill Listening Tour in Anderson County

    Source: United States House of Representatives – Congresswoman Sharice Davids (KS-3)

    GARNETT, KS – Today, Representative Sharice Davids visited Phelon Farms, a corn grower in Garnett, as part of her ongoing Farm Bill Listening Tour. During her visit, she toured the operation, helped apply fertilizer, and held discussions with farm owners and agribusiness leaders, reaffirming her commitment to crafting a bipartisan Farm Bill that addresses the needs of Kansas agriculture.

    With the Farm Bill extended through September 30, 2025, and negotiations ongoing, Davids is using her tour to reconnect with Kansas farmers, producers, and ranchers and gather input on their priorities. Davids, a member of the U.S. House Agriculture Committee, serves as the Ranking Member of the General Farm Commodities, Risk Management, and Credit Subcommittee.

    “Farmers, ranchers, and producers are the backbone of our economy and communities, and their voices need to be at the center of the Farm Bill debate,” said Davids. “With so many facing uncertainty from tariffs, supply chain issues, and rising costs, we need to have their backs now more than ever. As I continue meeting with ag leaders across the Third District, I’m focused on making sure this bill supports the needs of every operation — from family-owned farms like Phelon Farms to our specialty crop growers and beyond.”

    “As a farmer, I believe it is vital to work with our elected officials on both sides of the aisle to get a comprehensive Farm Bill passed,” said Adam Phelon, local farmer and Kansas Soybean Association board member. “Whether it be trade, tariffs, regulations, or market development, the decisions made in Washington D.C. affect Kansas farmers on a daily basis. And it’s through conversation and continued work that we hope to find common-sense solutions that are sufficient and beneficial to everyone here in the heartland of America. Having elected officials that choose to stay involved and work to find those solutions is necessary. And that’s why, not only having Representative Davids on the House Ag Committee, but also making these stops to talk to local farmers about these issues should be applauded.”

      

    To prepare for the Farm Bill discussion, Davids embarked on a Farm Bill listening tour, where she visited a poultry and livestock operation in Anderson County, a co-op in Franklin County, a goat farm in Miami County, an organic vegetable farm in Johnson County, and an educational community farm in Wyandotte County. Davids also toured a Garnett-based renewable ethanol producer, participated in FFA activities at Spring Hill High School, served a school lunch at Black Bob Elementary in Olathe, spoke with industry leaders on financial support programs for farmers, toured a dairy farm in Garnett, and more.

    Davids has consistently pushed back against President Trump’s reckless trade and agriculture policies that have created uncertainty for Kansas farmers. She spoke out against abrupt tariffs, which could raise costs and disrupt markets, and highlighted the $27 billion in agricultural export losses farmers faced under previous Trump-era tariffs. She also condemned the administration’s elimination of key USDA programs that have destabilized local food systems and left school districts and food banks scrambling.

    “Kansas soybean growers anticipate seeing our priorities advanced in the next Farm Bill, including a robust farm safety net and expanded program access that fits unique grower needs,” said Adam Phelon, local farmer and Kansas Soybean Association board member. “We appreciate the influence Kansas’ elected officials serving on agriculture committees have in directing legislation that works in favor of farmers.”

    MIL OSI USA News –

  • MIL-OSI: Best Tribal Loans for Bad Credit Guaranteed Approval Direct Lenders with No Credit Check – IOnline Payday Loans

    Source: GlobeNewswire (MIL-OSI)

    SHERIDAN, Wyo., May 14, 2025 (GLOBE NEWSWIRE) — Securing stable financial assistance when your credit score is not up to par can be challenging. That is where Best tribal loans for bad credit come into play, providing quick, convenient, and easiest tribal loans to get for individuals with less-than-ideal credit histories. IOnline Payday Loans simplifies it for borrowers to find licensed tribal loans direct lender guaranteed approval services so that funds can be obtained even without a conventional credit check.

    >> Click Here to Apply Tribal Loans >>

    Whether you are looking for tribal payday loans, Tribal installment loans direct lenders no credit check, or easiest tribal loans for bad credit, this guide has all the information you need to get fast approval and instant cash.

    >> Click Here to Apply Tribal Loans >>

    What Are the Best Tribal Loans for Bad Credit?

    Best tribal loans for bad credit are personal loans offered by lenders that are associated with Native American tribes. They are governed by tribal law, which makes them a viable option for borrowers who are having trouble with traditional lenders.

    The most important benefit is their no credit check and direct lender guaranteed approval, which is usually available even with bad credit scores. IOnline Payday Loans provides US borrowers with access to quality providers of tribal loans with no credit check direct lender services, and it is therefore one of the simplest tribal loans to obtain.

    >> Click Here to Apply Tribal Loans >>

    These loans are ideal for emergencies, surprise bills, or urgent expenditures, with speedy online applications and rapid disbursal of funds. Some lenders even offer tribal installment loans for bad credit, direct lenders, offering borrowers flexible repayment terms.

    Types of Tribal Loans: No Credit Check, Instant Approval

    When searching for the Best tribal loans for bad credit, it’s important to be aware of the various types of loans that you can select and choose the one that best meets your personal financial needs. Through IOnline Payday Loans, lenders can get access to a vast range of tribal loans no credit check products, with many providing instant approval and guaranteed approval with direct lenders.

    These loans are specifically formulated to deliver quick monetary assistance for unforeseen circumstances, emergencies, or individual needs without going through the bother of standard credit verification.

    Let us see the most popular forms of tribal loans direct lender guaranteed approval no teletrack available online, in detail:

    1. Tribal Payday Loans No Credit Check

    Tribal payday loans no credit check are quick, short-term, small loans that should be paid back through your next check. They are among the simplest tribal loans to obtain since they do not have many requirements for eligibility and no old credit checks. Perfect for emergencies, they provide guaranteed tribal loans with bad credit options for people in need of immediate financial assistance.

    2. Tribal installment loans for bad credit direct lenders

    For those who want more flexible repayments over time, bad credit tribal installment loans direct lenders offer the best option. They provide the convenience of borrowing more with the relaxed nature of tribal loans no credit check strategies, dividing repayment into easy installments. They’re best suited for larger-than-usual expenses such as medical expenses or repair of a car.

    3. $500 Tribal Installment Loans Direct Lenders Only

    As the name indicates, these loans provide a virtually guaranteed approval rate for borrowers with low credit scores. $500 tribal installment loans direct lenders only are not based on hard credit checks and usually dodge conventional reporting mechanisms like Teletrack. With IOnline Payday Loans, these loans give a guaranteed and quick funding solution.

    4. Tribal loans no credit check direct lender

    These loans involve working directly with a tribal lender, ensuring faster processing and straightforward terms. A popular option for borrowers looking for easy tribal loans for bad credit, these loans eliminate intermediaries, improving approval rates and offering quicker access to funds.

    5. Easy tribal loans for bad credit

    Easy tribal loans for bad credit are designed to be fast and convenient. With straightforward eligibility and instant decisions, these loans are approved and funded within 24 hours. Ideal for paying for sudden or unexpected bills, they are easily accessed through IOnline Payday Loans.

    All these loans work together towards making IOnline Payday Loans one of the Best tribal loans for bad credit lenders in the US today, providing convenient, quick, and affordable financial assistance to those that need it the most.

    How to Apply for Tribal Loans No Credit Check

    It has never been easier to apply for the Best tribal loans for bad credit, thanks to online lending sites like IOnline Payday Loans making the process simple and easy. One of the greatest benefits of tribal loans no credit check is that you do not need to fret about your credit history hurting your chances. Tribal loans are specifically made for fast, easy approvals with little paperwork and convenient online applications.

    Below is a step-by-step guide on how to get tribal loans with direct lender guaranteed approval, no credit check:

    1.   Select the loan amount and repayment period

    First, use the online form to select the amount you require for the loan (up to $5000) and select the payback duration that is suitable for you, between 3 to 12 months. Ensure your repayment schedule is comfortable so as not to complicate matters.

    2.   Organize the necessary information

    Provide the necessary details such as your income, contact information, and banking details. The more accurate the information, the quicker the process will go. Rest assured, your data is confidential and will only be shared with the lender.

    3.   Submit your application

    After filling out your details, submit the application. You’ll receive an approval decision within minutes, usually within 2 minutes, so you won’t be left waiting long.

    4.   Get matched with a lender

    Most applicants are automatically matched with a tribal loans direct lender guaranteed approval. Even with bad credit, you’ll be connected with a third-party lender willing to offer assistance.

    5.   Review loan offer

    Once you have been matched, you will be offered loans with specific terms. Loan offers will state the repayment terms and charges, and you should read them carefully so that they meet your requirements.

    6.   Sign loan agreement

    After you are satisfied with your loan proposal, you will e-sign the loan agreement. The lender will proceed to process all the information and prepare the funds for disbursement.

    7.   Get funds

    In the majority of instances, once your loan has been approved, you can have access to cash as soon as the next working day. Your lender will inform you of all information regarding how money will be paid.

    Why Are IOnline Payday Loans the Best Choice for You?

    IOnline Payday Loans is one of the most dependable sources for tribal loans no credit check available. They offer fast, safe, and easy loans, so they are an ideal option if you need a loan but have bad credit. The following are the reasons you should choose IOnline Payday Loans:

    1.   No credit checks

    Unlike other lenders who always place too much emphasis on your credit score, IOnline Payday Loans offers personal tribal loans no credit check that mean your bad credit will never prevent you from receiving your loan. Bad credit, or NO credit, will never hinder you from the bad credit guaranteed tribal loans approval.

    2.   Fast approvals and quick funding

    The approval process at IOnline Payday Loans is quick and effective. Approval decisions are made in minutes for most applicants and they will receive their funds the same day or perhaps the following business day. This is an excellent option for fast funding when you need cash quickly, such as a medical bill or other unforeseen expense.

    3.   Flexible loan amounts and repayment terms

    With IOnline Payday Loans, you can tailor your loan to your specific needs. Choose a loan amount of up to $5000 and decide on repayment terms between 3 to 12 months. This flexibility ensures that you’re only borrowing what you need, with manageable terms that work with your budget.

    4.   Simple, easy-to-use online application

    The application process is straightforward and quick. With just a few simple steps, you can apply online from the comfort of your own home. There’s no complicated paperwork or long wait times, just a fast and easy way to access tribal payday loans when you need them most.

    5.   Secure and transparent process

    At IOnline Payday Loans, your privacy is very important. The online platform is secure and confidential to ensure that you never have to worry about your personal or financial information being shared with anybody. Additionally, as per the Law of Truth in Lending, all the Loan Terms are explained to you before you sign on the dotted line. There is no deception in the borrowing process offered by IOnline Payday Loans.

    Ultimately, the features offered by IOnline Payday Loans makes it one of the best options for tribal loans no credit check, and guaranteed tribal loans bad credit. If for any reason you need money quickly, whether it is an emergency or a lack of respect or just want the least hassle possible while obtaining a loan, IOnline Payday Loans can offer you exactly what you need with trust.

    IOnline Payday Loans Application Process

    The application process for IOnline Payday Loans is designed to be straightforward, especially for those seeking tribal loans no credit check. Follow these simple steps to get started:

    Step 1: Select loan amount

    The first step is choosing the loan amount that you need. Whether you need a small sum for an emergency or a larger amount for a more significant expense, tribal loans direct lender guaranteed approval ensures you’re matched with the right option based on your needs.

    Step 2: Organize documents

    Prepare the necessary documents such as proof of identity, income, and residency. Since tribal payday loans do not require extensive documentation, this step is simple and quick to complete.

    Step 3: Fill out the application form

    Fill out the easy online application form. The form will ask for personal details and the amount you wish to borrow. This step is quick and designed to minimize your time spent on the process.

    Step 4: Check eligibility

    Once you submit the form, the system will automatically check your eligibility for easy tribal loans for bad credit. Since the approval process is not based on your credit score, you’re likely to be eligible even with a poor credit history.

    Step 5: Get matched with a lender

    If you’re eligible, you’ll be matched with a tribal loans direct lender guaranteed approval no teletrack that fits your loan request. This step ensures that you get the best possible loan terms for your situation.

    Step 6: Sign & receive funds

    Once you’re matched with a lender, review the loan offer, sign the agreement, and receive your funds. With tribal loans no credit check direct lender, you can expect fast processing and immediate disbursement, often the same day.

    Following these steps ensures that applying for Best tribal loans for bad credit is as smooth and hassle-free as possible.

    Eligibility Criteria for IOnline Payday Loans

    To apply for IOnline Payday Loans, certain eligibility criteria must be met to ensure you are a suitable candidate for their tribal loans no credit check. These requirements are designed to make the application process accessible and secure for applicants, regardless of their credit history.

    • Age: You need to be at least 18 years old. This requirement ensures that you are legally able to enter into a loan agreement and pay back the loan throughout the loan term.
    • U.S. Residency: Loan applicants must be legal U.S. residents to be eligible for tribal payday loans. Because the loan is only available to U.S. residents, this is important.
    • Steady Income: You must provide proof of steady income. This can include a paycheck from full-time work, yourself as a business owner, disability payments, or any reliable source of income. Tribal loans direct lender guaranteed approval usually needs this as evidence that you can pay back the loan.
    • Bank Account: You will need a valid checking or savings account to receive your funds through direct deposit and for loan payments to be made. This allows for more accurate and quicker transfer of funds.
    • No Credit Check: One great feature of easy tribal loans for bad credit is that there is no credit check. Even if you have bad credit or do not have credit, qualifying for guaranteed tribal loans bad credit is still available.

    The eligibility requirements for tribal installment loans for bad credit direct lenders are uncomplicated. This makes tribal installment loans an attractive way to borrow for anyone that has trouble getting traditional lenders to work with them and their credit score. The eligibility requirements are straightforward and the process allows for quick and easy access to funding without the long waiting, overwhelming obstacles of application, and blurry lines of a credit check.

    Wrapping up

    To sum up, IOnline Payday Loans is definitely one of the best options for tribal loans no credit check if you need fast and reliable financing. Tribal loans direct lender guaranteed approval supports individuals looking for easy access to funds quickly, even if they have poor credit. The process is simple, ensuring the great chance to get approved for one of the easiest tribal loans to obtain.

    Whether you are looking for tribal payday loans or an easy tribal loan for an emergency or other needs, you can trust you will receive fast and efficient service with IOnline Payday Loans. If you are looking for easy tribal loans for bad credit, it is worth it to look into this option.

    Frequently Asked Questions

    Will I actually be able to get guaranteed tribal loans bad credit?

    Yes, you will be able to get guaranteed tribal loans bad credit with IOnline Payday Loans even if you have bad credit. The process is very simple, and uses a common sense approach to ensure everyone gets a chance; and the best part is that you will not need to submit a credit score, and approval is much faster than traditional loans.

    Will applying for my tribal loan affect my credit score?

    No, your credit score would not be affected by applying for a tribal payday loan with IOnline Payday Loans. Since the decision is based on criteria other than your credit score, you won’t have to be concerned with your score and the loan application and approval.

    Are these loans available in every state?

    IOnline Payday Loans is available in most states, however, loan availability may depend on state regulations. We recommend checking the website or contacting customer support for confirmation on tribal loans no credit check availability.

    Disclaimer: This announcement contains general information about Ionline payday loan services and should not be considered financial advice. Ionline Payday Loans does not guarantee loan approval, and loan terms may vary by applicant and lender requirements. Loans are available to U.S. residents only.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0a448455-0257-4c6f-9380-aed09399ca89

    The MIL Network –

  • MIL-Evening Report: Fiji Indians in NZ ‘not giving up’ on Pasifika classification struggle

    By Susana Suisuiki, RNZ Pacific Waves presenter/producer, and Christina Persico, RNZ Pacific bulletin editor

    The co-founder of Auckland’s Fiji Centre is concerned that Indo-Fijians are not classified as Pacific Islanders in Aotearoa.

    This week marks the 146th anniversary of the arrival of the first indentured labourers from British India to Fiji, who departed from Calcutta.

    On 14 May 1879, the first group of 522 labourers arrived in Fiji aboard the Leonidas, a labour transportation ship.

    That date in 1987 is also the date of the first military coup in Fiji.

    More than 60,000 men, women and children were brought to Fiji under an oppressive system of bonded labour between 1879 and 1916.

    Today, Indo-Fijians make up 33 percent of the population.

    While Fiji is part of the Pacific, Indo-Fijians are not classified as Pacific peoples in New Zealand; instead, they are listed under “Indian” and “Asian” on the Stats NZ website.

    Lasting impact on Fiji
    The Fiji Centre’s Nik Naidu, who is also a co-founder of the Whānau Community Centre and Hub, said that he understood Fiji was the only country in the Pacific where the British implemented the indentured system.

    “It is also a sad legacy and a sad story because it was basically slavery,” he said.

    “The positive was that the Fiji Indian community made a lasting impact on Fiji.

    “They continue to be around 30 percent of the population in Fiji, and I think significantly in Aotearoa, through the migration, the numbers are, according to the community, over 100,000 in New Zealand.”

    Fiji Centre co-founder Nikhil Naidu . . . Girmit Day “is also a sad legacy and a sad story because it was basically slavery.” Image: Asia Pacific Report

    However, he said the discussions on ethnic classification “reached a stalemate” with the previous Pacific Peoples Minister.

    “His basic argument was, well, ethnographically, Fijian Indians do not fit the profile of Pacific Islanders,” he said.

    Then-minister Aupito William Sio said in 2021 that, while he understood the group’s concerns, the classification for Fijian Indians was in line with an ethnographic profile which included people with a common language, customs and traditions.

    Aupito said that profile was different from indigenous Pacific peoples.

    StatsNZ and ethnicity
    “StatsNZ recognises ethnicity as the ethnic group or groups a person self-identifies with or has a sense of belonging to,” Aupito said in a letter at the time.

    It is not the same as race, ancestry, nationality, citizenship or even place of birth, he said.

    “They have identified themselves now that the system of government has not acknowledged them.

    “Those conversations have to be ongoing to figure out how do we capture the data of who they are as Fijian Indians or to develop policies around that to support their aspirations.”

    Girmitiyas – Indentured labourers – in Fiji . . . shedding light on the harsh colonial past in Fiji. Image: RNZ Pacific/Fiji Girmit Foundation

    Naidu believes the ethnographic argument was a misunderstanding of the request.

    “The request is not to say, like Chinese in Samoa, they are not indigenous to Samoa, but they are Samoans, and they are Pacific Chinese.

    “So there is the same thing with Fijian Indians. They are not wanting to be indigenous.

    Different from mainland Indians
    “They do want to be recognised as separate Indians in the Pacific because they are very different from the mainland Indians.

    “In fact, most probably 99 percent of Fijian Indians have never been to India and have no affiliations to India because during the Girmit they lost all connections with their families.”

    However, Naidu told Pacific Waves the community was not giving up.

    “There was a human rights complaint made — again that did not progress in the favour of the Fijian Indians.

    “Currently from . . . Fiji Centre’s perspective, we are still pursuing that.

    “We have also had a discussion with Stats NZ about the numbers and trying to ascertain just why they have not managed to put a separate category, so that we can look at the number of Fijian Indians and also relative to Pacific Islanders.”

    Fijian Prime Minister Sitiveni Rabuka told RNZ Pacific that as far as Fiji is concerned, Fijians of Indian descent are Fijian.

    Question to minister
    Last year, RNZ Pacific asked the current Minister for Pacific Peoples, Dr Shane Reti, on whether Indo-Fijians were included in Ministry of Pacific Peoples as Pacific people.

    In a statement, his office said: “The Ministry for Pacific Peoples is undertaking ongoing policy work to better understand this issue.”

    Meanwhile, the University of Fiji’s vice-chancellor is asking the Australian and British governments to consider paying reparation for the exploitation of the indentured labourers more than a century ago.

    Professor Shaista Shameem told the ABC that they endured harsh conditions, with long hours, social restrictions and low wages.

    She said the Australian government and the Colonial Sugar Refinery of Australia benefitted the most financially and it was time the descendants were compensated.

    While some community leaders have been calling for reparation, Naidu said there were other issues that needed attention.

    He said it had been an ongoing discussion for many decades.

    “It is a very challenging one, because where do you draw the line? And it is a global problem, the indenture system. It is not just unique to Fiji.

    “Personally, yes, I think that is a great idea. Practically, I am not sure if it is feasible and possible.”

    Focus on what unites, says Rabuka
     Fiji is on a path for reconciliation, with leaders from across the political spectrum signing a Forward Fiji Declaration in 2023, hoping to usher in a new era of understanding between indigenous Fijians and Indo-Fijians.

    Rabuka announced a public holiday to commemorate Girmit Day in 2023.

    In his Girmit Day message this year, Rabuka said his government was dedicated to bringing unity and reconciliation between all races living in Fiji.

    “We all know that Fiji has had a troubled past, as it was natural that conflicts would arise when a new group of people would come into another’s space,” he said.

    “This is precisely what transpired when the Indians began to live or decided to live as permanent citizens.

    “There was distrust as the two groups were not used to living together during the colonial days. Indigenous Fijians did not have a say in why, and how many should come and how they should be settled here. Fiji was not given a time to transit.

    “The policy of indenture labour system was dumped on us. Naturally this led to tensions and misunderstandings, reasons that fuelled conflicts that followed after Fiji gained independence.”

    He said 146 years later, Fijians should focus on what unites rather than what divides them.

    “We have together long enough to know that unity and peace will lead us to a good future.”

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

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Murray, Van Hollen, Tillis, Murkowski Lead Bipartisan, Bicameral Letter Calling on DHS to Reinstate Disaster Mitigation Program Critical to Local Communities

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    Washington, D.C. — U.S. Senators Patty Murray (D-Wash.), Chris Van Hollen (D-Md.), Thom Tillis (R-N.C.), and Lisa Murkowski (R-Alaska) led a bipartisan, bicameral letter with over 80 of their colleagues urging Department of Homeland Security (DHS) Secretary Kristi Noem to reinstate the Building Resilient Infrastructure and Communities (BRIC) program, which supports local efforts to protect and harden our communities from natural disaster. The BRIC program provides grants for hazard mitigation planning and projects that reduce risks posed by natural hazards to communities, tribal nations, and territories requesting assistance. The lawmakers’ letter emphasizes the urgent need to continue investing in pre-disaster mitigation and community resilience and calls on the Administration to work with Congress to improve the program’s accessibility and efficiency.
    “We are writing to urge the Administration to reinstate the Building Resilient Infrastructure and Communities Grant (BRIC) program within the Federal Emergency Management Agency (FEMA). BRIC funds are spurring communities across the country to strengthen their resilience to extreme weather, and forgoing these critical investments will only make it harder and more expensive for communities to recover from the next storm,” the lawmakers began.
    “The BRIC program was established by Congress in the 2018 Disaster Recovery Reform Act and signed into law by President Trump with bipartisan support. In the years since, this program has catalyzed community investments in resilient infrastructure, saving federal funds by investing in community preparedness before a disaster strikes,” they continued. “According to research, one dollar invested in disaster mitigation can save up to $18 in response and recovery expenditures.”
    “We urge the Administration to take swift action to reinstate the BRIC program, and to work with Congress to identify and implement reforms to strengthen our nation’s resilience for decades to come,” the lawmakers concluded.
    In addition to Senators Murray, Van Hollen, Tillis, and Murkowski, the letter was led on the House side by U.S. Representatives Chuck Edwards (R-N.C.-11), Sylvia Garcia (D-Texas-29), Brian Fitzpatrick (R-Pa.-01), and Ed Case (D-Hawaii-01). The letter was also signed by Senators Angela Alsobrooks (D-Md.), Tammy Baldwin (D-Wis.), Michael Bennet (D-Colo.), Richard Blumenthal (D-Conn.), Lisa Blunt Rochester (D-Del.), Cory Booker (D-N.J.), Bill Cassidy (R-La.), Ruben Gallego (D-Ariz.), Mark Kelly (D-Ariz.), Ed Markey (D-Mass.), Jeff Merkley (D-Ore.), Jon Ossoff (D-Ga.), Alex Padilla (D-Calif.), Jack Reed (D-R.I.), Jacky Rosen (D-Nev.), Bernie Sanders (I-Vt.), Adam Schiff (D-Calif.), Jeanne Shaheen (D-N.H.), Elissa Slotkin (D-Mich.), Tina Smith (D-Minn.), Mark Warner (D-Va.), Raphael Warnock (D-Ga.), Peter Welch (D-Vt.), Ron Wyden (D-Ore.) and Representatives Alma Adams (D-N.C.-12), Pete Aguilar (D-Calif.-33), Donald Beyer (D-Va.-08), Suzanne Bonamici (D-Ore.-01), Rob Bresnahan (R-Pa.-08), Nikki Budzinski (D-Ill.-13), Greg Casar (D-Texas-35), Sheila Cherfilus-McCormick (D-Fla.-20), Judy Chu (D-Calif.-33), Angie Craig (D-Minn.-02), Sharice Davids (D-Kan.-03), Donald Davis (D-N.C.-01), Sarah Elfreth (D-Md.-03), Lois Frankel (D-Fla.-22), Maxwell Frost (D-Fla.-10), Chuy García (D-Ill.-04), Pramila Jayapal (D-Wash.-07), Hank Johnson (D-Ga.-04), Bill Keating (D-Mass.-09), Ro Khanna (D-Calif.-17), Jen Kiggans (R-Va.-02), Kimberlyn King-Hinds (R-Northern Marina Islands), Stephen Lynch (D-Mass.-08), Doris Matsui (D-Calif.-07), Sarah McBride (D-Del.-01), Jennifer McClellan (D-Va.-04), Kristen McDonald Rivet (D-Mich.-08), Morgan McGarvey (D-Ky.-03), Dave Min (D-Calif-47), Blake Moore (R-Utah-01), James Moylan (R-Va.-09), Kevin Mullin (D-Calif.-15), Richard Neal (D-Mass.-01), Dan Newhouse (R-Wash-04), Chris Pappas (D-N.H.-01), Marie Gluesenkamp Perez (D-Wash.-03), Scott Peters (D-Calif.-50), Chellie Pingree (D-Maine-01), Ayanna Pressley (D-Mass.-07), Mike Quigley (D-Ill.05), Aumua Amata Coleman Radewagen (R-American Samoa), John Rutherford (R-Fla.-05), Linda Sánchez (R-Calif.-38), Mary Gay Scanlon (D-Pa.-05), Kim Schrier (D-Wash.-08), Terri Sewell (D-Ala.-07), Thomas Suozzi (D-N.Y.-03), Jill Tokuda (D-Hawaii-02), Norma Torres (D-Calif-35), David Valadao (R-Calif-22), Nydia Velázquez (D-N.Y.-07), Eugene Simon Vindman (D-Va.-07), Frederica Wilson (D-Fla.-24), and Robert Wittman (R-Va.-01).
    The full letter is available here and below:
    Dear Secretary Noem and Acting Administrator Richardson,
    We are writing to urge the Administration to reinstate the Building Resilient Infrastructure and Communities Grant (BRIC) program within the Federal Emergency Management Agency (FEMA). BRIC funds are spurring communities across the country to strengthen their resilience to extreme weather, and forgoing these critical investments will only make it harder and more expensive for communities to recover from the next storm. We acknowledge that the BRIC program, like all grant funding programs, has room for improvement, and we urge you to couple the reinstatement of the program with an opportunity for Congress and FEMA to improve the application review and funding distribution process to more effectively reduce the costs disasters pose to our communities, economies, and livelihoods.
    The BRIC program was established by Congress in the 2018 Disaster Recovery Reform Act and signed into law by President Trump with bipartisan support. In the years since, this program has catalyzed community investments in resilient infrastructure, saving federal funds by investing in community preparedness before a disaster strikes.
    According to research, one dollar invested in disaster mitigation can save up to $18 in response and recovery expenditures. BRIC funds are making communities safer in the next storm through projects like upgrading and protecting wastewater and drinking water plants after the facilities suffered repeated flooding, or bridge upgrades and road drainage improvements to improve driver safety. Because of its benefits, the demand for BRIC grants continues to increase, and our states and communities benefit from the reliability of the funding cycles.
    The BRIC program also plays an essential role in helping Tribal Nations and rural communities strengthen their defenses against natural disasters and safeguard critical infrastructure. Through BRIC, Tribes and rural communities can access dedicated funding to strengthen community resilience by investing in hazard mitigation projects—such as flood protection, fire prevention, and infrastructure hardening—that are otherwise difficult to finance in rural or remote settings. Importantly, FEMA supports Tribal sovereignty by allowing Tribes to apply directly for funding, reserving a dedicated Tribal set-aside, and providing direct technical assistance—ensuring Tribes can lead their own planning and mitigation efforts. These investments not only strengthen community resilience but also honor the federal trust responsibility to support the safety, self-determination, and well-being of Tribal Nations.
    At the same time, we acknowledge that the BRIC program should be evaluated for opportunities to increase efficiency and reduce the complexities for recipients to access the critical resources. The benefits of the program should not be concentrated in or limited to jurisdictions with dedicated offices and the staff necessary to navigate the grant application requirements. Additionally, the program should be updated with a strategic approach that empowers states and local governments to address degraded and vulnerable infrastructure based on their localized priorities and understanding of risk.
    We urge the Administration to take swift action to reinstate the BRIC program, and to work with Congress to identify and implement reforms to strengthen our nation’s resilience for decades to come.
    Respectfully,

    MIL OSI USA News –

  • MIL-OSI USA: Tuberville Calls Out Democrats for Trying to Distract from President Trump’s Wins

    US Senate News:

    Source: United States Senator Tommy Tuberville (Alabama)
    “To my Democrat colleagues, instead of wasting our time objecting every time President Trump breathes, maybe you should get outside of D.C. and go connect with the American people. I can promise you they don’t give a rip about an airplane.”
    WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) went to the Senate floor to object to Senate Democrats’ attempts to distract from the numerous wins President Trump has delivered for the American people in the past 72 hours.
    Read excerpts from the speech below or watch on YouTube or Rumble.

    “Reserving the right to object. As usual, our Democrat colleagues are losing their minds over this situation. But let’s just talk about the facts.
    First of all, this is not a done deal. It’s not happened yet. It’s all talk. But, if reports are accurate, the government of Qatar is considering gifting the United States Department of Defense with an American-made Boeing 747—I’ll repeat that—an American-made Boeing 747 plane for temporary use as Air Force One. It is not for the President’s personal use and he will not be using it after he leaves office. It is customary and totally normal for foreign countries to give our government gifts. The DOJ has already said that this does not violate any law.
    So, why are my colleagues and the woke media having a full-blown meltdown over this situation? Perhaps this is because in the past 72 hours, President Trump has delivered so many wins you can’t count them all. 
    On Sunday, he negotiated a deal with China, [resulting in China] dropping tariffs [by] 50%. On Monday, he secured the release of the last remaining American hostage in Hamas. Edan Alexander has been through hell the past 584 days, and it took President Trump to bring him home. Today, President Trump just announced hundreds of billions of dollars in new investment from the Middle East. And on Thursday, he is forcing a face-to-face meeting between Putin and Zelensky to end this brutal war in Ukraine.
    You’d think the media would be celebrating all these wins, along with my colleagues, but as usual, the Trump Derangement Syndrome is getting in the way. I’m convinced that the media and some of my colleagues would rather President Trump lose on everything and our country lose on everything than [see President Trump] be successful. 
    Whether you are a Republican or Democrat, we are all Americans. Sometimes I think we forget that. And we should all be able to celebrate any time a president delivers a win for the American taxpayers.
    And by the way, we are $37 trillion dollars in debt. If another country wants to give us a free plane, saving the taxpayers of this country $400 million dollars, the only thing we should say is ‘thank you.’
    Democrats are rudderless right now. They’re looking for something to hang their hats on. They see that President Trump has done more in four months than President Biden did in four years. So, they wanna make a plane gift from Qatar the next so-called ‘perfect phone call.’
    To my Democrat colleagues, instead of wasting our time objecting every time President Trump breathes, maybe you should get outside of D.C. and go connect with the American people. I can promise you they don’t give a rip about an airplane. They care about their lives and this economy and the things that have been destroyed for the past four years that President Trump is trying to put back together.
    For these reasons, Mr. President, I object.”
    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.

    MIL OSI USA News –

  • MIL-OSI Australia: A year and a half of annual real wages growth

    Source: Australian Parliamentary Secretary to the Minister for Industry

    New data released by the Australia Bureau of Statistics shows that annual real wages have grown for 18 months in a row under the Albanese Labor Government.

    Under Labor, more Australians are working, earning more and keeping more of what they earn.

    We’re really pleased with today’s figures which show annual real wages have now grown for six quarters in a row, after going badly backwards under the previous Liberal government and falling for the five quarters in the lead up to the 2022 election.

    Australians voted for higher wages at the election, and that’s what today’s numbers show.

    The wage price index grew 0.9 per cent in the March quarter 2025, to be 3.4 per cent higher through the year.

    Real wages grew 1.0 per cent through the year to the March quarter 2025.

    This is the strongest rate of annual real wage growth in five years.

    Annual real wages have grown by more than 0.8 per cent for three quarters in a row, which is the longest consistent run of real wage growth in almost ten years above that rate.

    Since we’ve come to Government average annualised nominal wages have been growing at 3.7 per cent, much higher than the 2.2 per cent under our predecessors.

    The Government’s policies are driving strong and sustainable wage growth for workers.

    We’re acting to boost wages, close the gender pay gap, deliver workplace relations reforms and secure pay rises for some of the lowest‑paid workers in our community. Our support for the lowest paid workers means minimum wage earners are now earning $143.30 per week more than when we came to government.

    At the same time, we’ve overseen the creation of more than 1 million jobs in our first three years, a record for a Parliamentary term and stronger employment growth than any major advanced economy.

    This means under Labor real wages are up, unemployment is low, inflation is down, interest rates have started to fall, every taxpayer is getting a tax cut and living standards are growing again in our economy.

    This is the result of the remarkable progress Australians have made together in the economy over the past three years.

    We know the job isn’t finished because Australians are still under pressure and we know we will be faced with more global economic volatility and unpredictability over the next three years, not less.

    Getting wages moving again is one of the ways we can help households right around Australia prepare for more uncertainty and instability in the global economy.

    We know that productivity growth is the key for strong and sustainable wages growth in the long term and that’s why our five‑pillar productivity agenda across technology, human capital, energy, care and competition is so important.

    MIL OSI News –

  • Trump says US to lift Syria sanctions, secures $600 billion Saudi deal

    Source: Government of India

    Source: Government of India (4)

    President Donald Trump kicked off his trip to the Gulf on Tuesday with a surprise announcement that the United States will lift long-standing sanctions on Syria, and a $600 billion commitment from Saudi Arabia to invest in the U.S.

    The U.S. agreed to sell Saudi Arabia an arms package worth nearly $142 billion, according to the White House which called it the largest “defense cooperation agreement” Washington has ever done.

    The end of sanctions on Syria would be a huge boost for a country that has been shattered by more than a decade of civil war. Rebels led by current President Ahmed al-Sharaa toppled President Bashar al-Assad last December.

    Speaking at an investment forum in Riyadh at the start of a deals-focused trip that also brought a flurry of diplomacy, Trump said he was acting on a request to scrap the sanctions by Saudi Arabia’s de facto ruler, Prince Mohammed bin Salman.

    “Oh what I do for the crown prince,” Trump said, drawing laughs from the audience. He said the sanctions had served an important function but that it was now time for the country to move forward.

    The move represents a major U.S. policy shift. The U.S. declared Syria a state sponsor of terrorism in 1979, added sanctions in 2004 and imposed further sanctions after the civil war broke out in 2011.

    Syrian Foreign Minister Asaad al-Shibani said on X that the planned move marked a “new start” in Syria’s path to reconstruction. Trump has agreed to briefly greet Sharaa in Saudi Arabia on Wednesday, a White House official said.

    Trump and the Saudi crown prince signed an agreement covering energy, defense, mining and other areas. Trump has sought to strengthen relations with the Saudis to improve regional ties with Israel and act as a bulwark against Iran.

    The agreement covers deals with more than a dozen U.S. defense companies for areas including air and missile defense, air force and space, maritime security and communications, a White House fact sheet said.

    It was not clear whether the deal included Lockheed F-35 jets, which sources say have been discussed. The Saudi prince said the total package could reach $1 trillion when further agreements are reached in the months ahead.

    Saudi Arabia is one of the largest customers for U.S. arms, and the two countries have maintained strong ties for decades based on an arrangement in which the kingdom delivers oil and the superpower provides security.

    But relations were strained after the 2018 murder of U.S.-based Saudi journalist Jamal Khashoggi by Saudi agents in Istanbul caused a global uproar. U.S. intelligence concluded that bin Salman approved an operation to capture or kill Khashoggi, a prominent critic, but the Saudi government has denied any involvement.

    Trump did not mention the incident during his visit and called bin Salman an “incredible man.”

    “I really believe we like each other a lot,” Trump said.

    Trump will go on from Riyadh to Qatar on Wednesday and the United Arab Emirates on Thursday in a trip that is focused on investment rather than security matters in the Middle East.

    Several U.S. business leaders attended the event, including Elon Musk, the Tesla chief who has led a government-downsizing effort for Trump in Washington; OpenAI CEO Sam Altman; BlackRock CEO Larry Fink and Blackstone CEO Stephen Schwarzman.

    Trump was shown speaking with several Saudi officials, including sovereign wealth fund governor Yasir al-Rumayyan, Aramco CEO Amin Nasser and investment minister Khalid al-Falih as he viewed models for the kingdom’s flashy, multi-billion-dollar development projects.

    Bin Salman has focused on diversifying the Saudi economy in a major reform program dubbed Vision 2030 that includes “Giga-projects” such as NEOM, a futuristic city the size of Belgium. Oil generated 62% of Saudi government revenue last year.

    The kingdom has scaled back some of its ambitions as rising costs and falling oil prices weigh.

    NO VISIT TO ISRAEL, WARNING TO IRAN

    Trump has not scheduled a stop in Israel, raising questions about where the close ally stands in Washington’s priorities as Trump presses Israeli Prime Minister Benjamin Netanyahu to agree to a new ceasefire deal in the 19-month-old Gaza war.

    Israel’s military operations against Hamas in Gaza and Hezbollah in Lebanon, and its assassinations of the two Iran-allied groups’ leaders, have at the same time given Trump more leverage by weakening Tehran and its regional allies.

    Trump said it was his “fervent hope” that Saudi Arabia would soon normalize relations with Israel, following other Arab states that did so during his first 2017-2021 term. “But you’ll do it in your own time,” he said.

    Netanyahu’s opposition to the creation of a Palestinian state makes progress with the Saudis unlikely, sources told Reuters.

    Trump on Tuesday called Iran “the most destructive force” in the Middle East and warned that the U.S. will never allow it to obtain a nuclear weapon. He said he was willing to strike a new deal with the Islamic Republic but only if its leaders changed course.

    “I want to make a deal with Iran,” he said. “But if Iran’s leadership rejects this olive branch… we will have no choice but to inflict massive maximum pressure.”

    (Reuters)

  • MIL-OSI USA: VIDEO: In Ways and Means Committee Showdown, Rep. Gomez Fights Republican Tax Scam

    Source: United States House of Representatives – Congressman Jimmy Gomez (CA-34)

    Gomez to Republicans: “Are you for the babies—or the billionaires?”

    Watch Rep. Jimmy Gomez’s remarks blasting the “biggest wealth transfer in American history” HERE.

    WASHINGTON, DC – During a House Ways and Means Committee markup, Rep. Jimmy Gomez (CA-34) delivered a sharp rebuke of the Republican tax plan, which slashes Medicaid and food assistance programs to finance trillions of dollars in tax breaks for the ultra-wealthy.

    “I didn’t think that Republicans could get any worse. But they are. At this very moment… the American people are a witness to the biggest transfer of wealth in the history of our country,” said Rep. Gomez.

    “In the Energy and Commerce Committee, just down the hall, Republicans will vote to slash billions from Medicaid—health care for the working class—in order to hand out trillions in tax breaks to the billionaires, ultra-wealthy, and the largest corporations. It’s literally stealing from the poor to give to the rich,” added the Congressman.

    Rep. Gomez outlined the real-world consequences of the proposed cuts, warning that they would fall hardest on the most vulnerable. He also called out what’s missing from the Republican plan: any meaningful effort to lower the cost of child care, provide paid family leave, or make housing more affordable. “We could be doing all of that right now. But this bill does none of it,” Rep. Gomez said.

    Rep. Gomez wrapped up his remarks forcing his Republican colleagues to reckon with the stakes of their vote. In a series of pointed questions, he laid bare the moral choice at the heart of the debate: “Are you for the babies or the billionaires? The seniors or the billionaires? The working man or woman trying to get by—or the billionaires? Your words are cheap. It’s your vote that matters.”

    MIL OSI USA News –

  • MIL-OSI China: SCIO briefing on financial policy package to stabilize the market and expectations

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

    中文

    Speakers:

    Mr. Pan Gongsheng, governor of the People’s Bank of China (PBC)

    Mr. Li Yunze, minister of the National Financial Regulatory Administration (NFRA)

    Mr. Wu Qing, chairman of the China Securities Regulatory Commission (CSRC)

    Chairperson:

    Ms. Shou Xiaoli, director general of the Press Bureau of the State Council Information Office (SCIO) and spokesperson of the SCIO

    Date:

    May 7, 2025

    Shou Xiaoli:

    Ladies and gentlemen, good morning. Welcome to this press conference held by the State Council Information Office (SCIO). Today, we are glad to have invited Mr. Pan Gongsheng, governor of the People’s Bank of China (PBC); Mr. Li Yunze, minister of the National Financial Regulatory Administration (NFRA); and Mr. Wu Qing, chairman of the China Securities Regulatory Commission (CSRC). They will brief you on the financial policy package to stabilize the market and expectations, and answer your questions.

    Now, let’s give the floor to Mr. Pan for his introduction.

    Pan Gongsheng:

    Good morning. It’s a pleasure to meet with you all again. I would like to sincerely thank you all for your continued interest in and support for the reforms and developments in the financial sector, as well as the work of the PBC.

    Since the beginning of this year, the PBC has earnestly implemented the guiding principles of the Central Economic Work Conference and the deployments of the Government Work Report. We have implemented a moderately loose monetary policy, strengthened counter-cyclical adjustments, comprehensively used various monetary policy tools, served the high-quality development of the real economy, and created a favorable monetary and financial environment for promoting the continuous recovery and improvement of the economy.

    From the perspective of effectiveness, various macro-financial data has been relatively positive since the beginning of this year, and monetary credit has shown the operational characteristics of “increased quantity, decreased price and optimized structure.” At the end of the first quarter, the social financing scale increased by 8.4% year on year, and loans increased by 7.4% year on year. If adjusted to include the impact of local special-purpose bonds that replaced loans from local government financing platforms, the loan growth rate would exceed 8%. The M2, a broad measure of money supply, maintained stable growth of around 7%, significantly higher than the nominal economic growth rate. At the same time, the cost of social financing remained low, and the growth rates of inclusive loans to micro and small businesses, medium- and long-term loans to the manufacturing sector, and loans to sci-tech small and medium enterprises (SMEs) were all faster than the overall loan growth rate, further optimizing the credit structure.

    From the perspective of the financial market, the performance in the first quarter was positive. The stock market operated generally smoothly, trading was relatively active, and the Shanghai Composite Index remained around 3,300 points. The bond market self-corrected, driven by improved economic confidence. The onshore and offshore RMB exchange rates against the U.S. dollar appreciated slightly by about 1% compared to the end of last year, and cross-border capital flows were relatively balanced.

    Since April, despite facing relatively large external shocks, the domestic financial system has remained stable, and the financial market has shown strong resilience. After the Shanghai Composite Index fell on April 7, it quickly rebounded and stabilized. Currently, the 10-year government bond yield is hovering around 1.65%, and the RMB exchange rate against the U.S. dollar depreciated slightly before rebounding to around 7.2 yuan.

    Currently, the global economy is full of uncertainties. Economic fragmentation and trade tensions are intensifying, disrupting global industrial and supply chains, causing turmoil in international financial markets, and weakening global economic growth momentum. Not long ago, I attended the Spring Meetings of the World Bank Group and the International Monetary Fund (IMF) in Washington, where central bank governors and heads of international financial organizations from various countries expressed deep concern about this. The PBC will conscientiously implement the central decisions and deployments, promote high-quality economic development, unswervingly advance high-standard opening up, actively participate in international financial governance and cooperation, and maintain a rules-based international economic and financial order. At the same time, we will coordinate financial opening and security, explore and enhance the central bank’s role of macro-prudential management and financial stability regime, and firmly maintain the stable operation of China’s foreign exchange, bond and stock markets.

    On April 25, the Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting to analyze and study the current economic situation and economic work. In order to implement the guiding principles of the meeting and further implement a moderately loose monetary policy, the PBC will intensify macro regulation and introduce a package of monetary policy measures, mainly consisting of three major categories with a total of 10 specific measures.

    The first category is quantitative policies, aimed at increasing medium- and long-term liquidity supply, through measures such as lowering the reserve requirement ratio, and maintaining ample market liquidity. The second category is price-based policies, which will lower policy rate, reduce the rates of structural monetary policy tools, such as the central bank’s relending rates to commercial banks, and lower interest rates on provident fund loans. The third category is structural policies, which will improve existing structural monetary policy tools and create new policy tools to support such areas as technological innovation, consumption expansion and inclusive finance.

    These three major categories of measures include 10 specific policies:

    First, we will lower the reserve requirement ratio (RRR) by 0.5 percentage point, which is expected to provide about 1 trillion yuan in long-term liquidity to the market.

    Second, we will improve the reserve requirement system by temporarily lowering the reserve requirement ratio for auto finance companies and financial leasing companies from the current 5% to 0%. 

    Third, we will lower the policy rate by 0.1 percentage point, specifically reducing the seven-day reverse repo rate in the open market from the current 1.5% to 1.4%. This adjustment is expected to lead to a corresponding decrease of approximately 0.1 percentage point in the loan prime rate (LPR).

    Fourth, we will reduce the interest rates of structural monetary policy tools by 0.25 percentage point. This includes various special structural tools and relending rates for supporting agriculture and small businesses, all decreasing from the current 1.75% to 1.5%. These rates represent the cost at which the central bank provides relending funds to commercial banks. The interest rates on pledged supplementary lending (PSL) will be reduced from the current 2.25% to 2%. PSL is a tool through which the central bank provides funds to policy banks.

    Fifth, we will lower the interest rates on personal housing provident fund loans by 0.25 percentage point, reducing the rate for first-time homebuyers with loan terms over five years from 2.85% to 2.6%, with rates for other terms adjusted accordingly.

    Sixth, we will increase the relending quota for technological innovation and technological transformation by 300 billion yuan. This will raise the total from the current 500 billion yuan to 800 billion yuan. This relending tool is already in place, and the quota has now been increased by 300 billion yuan, bringing the total to 800 billion yuan. The tool will continue to support the “two new” policies, which refer to large-scale renewal of equipment and the trading-in of consumer goods.

    Seventh, we will establish a 500 billion yuan relending facility dedicated to service consumption and elderly care. This measure aims to encourage commercial banks to increase credit support for these sectors.

    Eighth, we will increase the relending quota for agricultural and small businesses by 300 billion yuan. This complements our relending rate reduction, helping banks expand lending to agricultural enterprises, small and micro businesses, and private enterprises.

    Ninth, we will optimize the two monetary policy tools that support the capital market. We’re merging the 500 billion yuan swap facility for securities firms, funds, and insurance companies with the 300 billion yuan relending facility for stock repurchases and increased holdings, resulting in a total quota of 800 billion yuan.

    Tenth, we will establish a risk-sharing tool for sci-tech innovation bonds. The central bank will provide low-cost relending funds that can be used to purchase these bonds. The central bank will collaborate with local governments and market-based credit enhancement institutions, utilizing diverse credit enhancement measures, such as joint guarantees, to share part of the default risk. This initiative aims to support the issuance of low-cost, long-term sci-tech innovation bonds for technology innovation enterprises and equity investment institutions.

    These 10 specific policy measures across three major categories will be gradually disclosed on the PBC’s website and implemented. Next, the PBC will continue to earnestly implement the various deployments of the CPC Central Committee and the State Council, implement a moderately loose monetary policy, and continuously adjust monetary policy based on domestic and international economic and financial conditions, as well as the operation of financial markets. We will also strengthen coordination with fiscal policy to promote high-quality economic development. Thank you.

    MIL OSI China News –

  • MIL-OSI New Zealand: Names announced for new science organisations

    Source: Ministry of Business Innovation and Employment MBIE (2)

    These new organisations, formed by merging and refocusing New Zealand’s 7 existing Crown Research Institutes, will concentrate on key areas of national importance to deliver a science system that is more connected, more commercially focused, and better aligned with the needs of New Zealand.  

    The new institutes will be:

    • New Zealand Institute for Bioeconomy Science – advancing innovation in agriculture, aquaculture, forestry, biotechnology and manufacturing; protecting ecosystems from biosecurity threats and climate risks; and developing new bio-based technologies and products.
    • New Zealand Institute for Earth Science – supporting energy security and sustainability; developing land, marine and mineral resources; and improving resilience to natural hazards and climate-related risks.
    • New Zealand Institute for Public Health and Forensic Science – strengthening public health through disease detection and response; and supporting public safety through forensic science services.

    To lead this transformation, Barry Harris has been appointed Chair of the Bioeconomy Science Institute, and David Smol has been appointed Chair of the Earth Science Institute. Both bring outstanding leadership and deep sector experience and will be supported by highly capable deputy chairs and directors. 

    Kim Wallace has been appointed Deputy Chair for the Institute for Bioeconomy Science, with Candace Kinser, Andrew Morrison and Gray Baldwin as directors.

    Mary-Anne Macleod will be Deputy Chair for the Earth Science Institute alongside directors Paul Connell, Paul White, Peter Landon-Lane and Professor Chris Bumby.

    Existing governance will remain in place for the Institute of Environmental Science and Research (ESR) as they refocus to become the Institute for Public Health and Forensic Science.

    See existing governance for ESR:

    Our people(external link) — ESR

    Read the Minister’s announcement:

    Bold science reforms to fuel economic growth(external link) — Beehive.govt.nz

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Auckland Council announces first stage of CCO Reform

    Source: Secondary teachers question rationale for changes to relationship education guidelines

    Auckland Council’s Chief Executive, Phil Wilson, has confirmed the final decisions of the Council-Controlled Organisation (CCO) Reform consultation with staff across the Auckland Council Group, aimed at achieving greater strategic alignment, accountability and better outcomes for Auckland.

    Following the Governing Body’s request for CCO reform in December last year, the decisions outline how best to integrate into Auckland Council: Eke Panuku Development Auckland, as well as the economic development functions of Tātaki Auckland Unlimited. 

    From 1 July, there will be three new functions within Auckland Council focused on creating an inclusive, innovative and resilient Auckland economy.

    • An Auckland Urban Development Office responsible for driving integrated implementation and delivery of quality urban development in the council group’s identified growth priority areas and large-scale projects. It will apply an economic and commercial lens. The Auckland Urban Development Office would include urban regeneration and place-based leadership on agreed large-scale projects.

    • Creation of a Property Department within Auckland Council responsible for system leadership, providing centre of excellence advice and the delivery of our customer facing property functions from across Auckland Council and Eke Panuku, including the management of commercial property, Westhaven, Silo and Viaduct Marinas, and the leasing of our community property facilities. The focus of this team will be to optimise value from our property assets across the council group and ensure decisions are made by appropriately experienced staff who will take into account the council’s overall strategic direction.

    • An Economic Development Office focused on economic development for the council group and responsible for business attraction, social and sector innovation, economic transformation and industry development support with a vision of inclusive, innovative, resilient economic growth for a prosperous Auckland.

    Mr Wilson says he is genuinely excited about the establishment of a highly strategic Urban Development Office within Auckland Council that will take the council’s ability to support regeneration and development for Auckland to a new level.

    “The office will be a clear ‘front door’ and single point of contact for our external investor, developer, private sector, iwi, and Crown agency partners. It will streamline and enhance our ability to achieve smart and sustainable urban development outcomes in strategically prioritised regeneration and growth locations. Including greenfield where appropriate.

    “Likewise, I’m delighted to finalise a robust structure to take a systems-leadership role across the council and bring about consistency in the way we manage our considerable property holdings. Property is a key strategic lever to build strong communities, provide council services, and shape or enable good quality growth. Our new structure will set us up for success by bringing the important and interrelated property functions together.

    “Getting both of these areas right is significant because, as Auckland continues to grow and as government planning, funding and infrastructure policy direction evolves, we need to be ready to respond to the increasing opportunities and challenges,” says Mr Wilson.

    Additionally, Mr Wilson has confirmed decisions to improve the programming and delivery of events, placemaking and activations across the group, resulting in a unified group approach with clearer areas of responsibility for teams. Tātaki Auckland Unlimited would lead regional programming and deliver all regional, mega, major and city centre events; Auckland Council Events would deliver local and civic events; and the Auckland Urban Development Office would lead and deliver placemaking and activation activities in priority locations to mitigate the impact of capital delivery works and regeneration programmes.

    In the city centre, Tātaki Auckland Unlimited will lead events, manage Aotea Square and Te Komititanga and be the primary lead for activations in the city centre. The Auckland Urban Development Office will deliver placemaking and will lead activations in the city centre directly related to capital works and development programmes, particularly where needed to support transformation in regeneration areas or mitigate disruption from construction.

    “These important changes will provide our staff with clear areas of responsibility which is the foundation for effective collaboration. We’ll also begin using a single Auckland Council brand across our events and a shared regional calendar so Aucklanders can have complete picture of what’s happening in their region,” he says.

    Recruitment is now underway for the new positions created in the Auckland Urban Development Office and Property Department and enabling functions to bring the new operating model and structure to life.

    About the CCO Reform Transition Programme

    On 12 December 2024, the Governing Body requested Auckland Council proceed with changes to our CCO model to strengthen the Auckland Council Group. 

    The Mayor and Councillors noted the valued contribution made by all kaimahi and reiterated that this isn’t about changing service levels. This is about reviewing how the services are best delivered. It was agreed that the work would seek to align and reinvigorate the CCO model; strengthen council’s ability to support elected members to make integrated decisions; and ensure the Auckland Council Group is set up in the best way to deliver on its Long-term Plan and broader vision for Auckland.

    Lead by experienced kaimahi from across the council group, there are four workstreams to shape recommendations for a new way of working that ensures we are best set up to deliver for Tāmaki Makaurau: the Structural integration of Eke Panuku and the economic development activities of Tātaki Auckland Unlimited; Strengthening the CCO model; and Transport Reform and Auckland Council Group Shared Services.

    MIL OSI New Zealand News –

  • MIL-OSI Economics: Money Market Operations as on May 13, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,88,426.72 5.69 0.01-6.85
         I. Call Money 16,043.27 5.83 4.90-5.90
         II. Triparty Repo 3,72,607.10 5.72 5.00-5.82
         III. Market Repo 1,98,108.35 5.61 0.01-6.00
         IV. Repo in Corporate Bond 1,668.00 5.94 5.90-6.85
    B. Term Segment      
         I. Notice Money** 253.25 5.73 5.50-5.85
         II. Term Money@@ 1,158.50 – 5.75-6.10
         III. Triparty Repo 5,820.15 5.87 5.75-5.95
         IV. Market Repo 0.00 – –
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Tue, 13/05/2025 1 Wed, 14/05/2025 5,401.00 6.01
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Tue, 13/05/2025 1 Wed, 14/05/2025 154.00 6.25
    4. SDFΔ# Tue, 13/05/2025 1 Wed, 14/05/2025 1,94,470.00 5.75
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,88,915.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo Fri, 02/05/2025 14 Fri, 16/05/2025 149.00 6.01
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo Thu, 17/04/2025 43 Fri, 30/05/2025 25,731.00 6.01
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,709.21  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     34,589.21  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -1,54,325.79  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on May 13, 2025 9,56,950.79  
         (ii) Average daily cash reserve requirement for the fortnight ending May 16, 2025 9,41,653.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ May 13, 2025 5,401.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on April 18, 2025 2,02,749.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    ^ As per the Press Release No. 2025-2026/91 dated April 11, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/316

    MIL OSI Economics –

  • MIL-OSI: Prairie Provident Resources Announces Successful Basal Quartz Drilling Program and First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, May 13, 2025 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) is pleased to announce strong production results from its three-well Basal Quartz (“BQ”) horizontal drilling program in the Michichi area of Central Alberta during the first quarter of 2025. The Company also announces financial and operating results for the first quarter ended March 31, 2025.

    SUCCESSFUL RESULTS FROM BASAL QUARTZ DRILLING PROGRAM

    The Company successfully drilled and completed three BQ horizontal wells that are now all on production. The wells were executed within budget and continue to demonstrate the high-quality geological and reservoir characteristics of the Michichi BQ play.

    The following table summarizes the initial production (“IP”) rates and key operational details for the three BQ wells drilled during the first quarter of 2025, which were brought on production in April 2025:

    Well Identifier Days from
    Spud to Rig
    Release    		 Lateral
    Length
    (metres)    		 Fracture
    Stages    		 IP Period Medium
    Crude Oil
    (bbl/d)    (1)    		 Conventional
    Natural Gas
    (Mcf/d)    (1)    		 Total
    (boe/d)    (1)    		 Peak Oil
    Rate
    (bbl/d)    (1)
    100/14-32-029-18W4 7 1,340 49 IP30 275 953 434 357
    102/13-32-029-18W4 7 1,319 48 IP21 328 1,052 503 367
    100/07-19-030-18W4 8 2,154 78 IP21 389 1,080 569 585
    (1)   Initial production rates are based on field estimates at wellhead. See “Advisories – Initial Production Rates” below.
         

    Total Company sales production for the first week of May 2025 averaged 3,467 boe/d (62.9% liquids)1, of which 1,567 boe/d (69.0% liquids)2 was from the three BQ wells drilled during the first quarter of 2025.

    These recent three wells validate Prairie Provident’s excitement with the emerging BQ/Ellerslie play on its Michichi lands. Direct offsetting operational activity continues to be strong. Legacy vertical well control, available 3D/2D seismic data, and offset drilling activity are important factors in de-risking the Michichi BQ play. Prairie Provident has identified more than 40 potential drilling opportunities targeting medium crude oil on its Michichi lands. The Company owns and controls key Michichi infrastructure, which provides a competitive advantage for the future development of this play, and has sizeable tax pools, including approximately $330 million of non-capital losses.

     _________

    1. Comprised of approximately 2,052 bbl/d of medium crude oil, 7,705 Mcf/d of conventional natural gas and 131 bbl/d of NGLs.
    2. Comprised of approximately 1,013 bbl/d of medium crude oil, 2,909 Mcf/d of conventional natural gas and 69 bbl/d of NGLs.


    FIRST QUARTER 2025 FINANCIAL AND OPERATING HIGHLIGHTS

    Prairie Provident’s interim financial statements for the first quarter ended March 31, 2025 and related Management’s Discussion and Analysis (MD&A) are available on our website at www.ppr.ca and filed on SEDAR+ at www.sedarplus.ca. Financial and operating highlights for the period include:

    • In February and March of 2025, the Company completed a brokered equity financing raising aggregate gross proceeds of $8.67 million to facilitate further development in the BQ formation at Michichi.
    • In Q1 2025, the Company drilled three gross (3.0 net) new wells in the BQ formation. These wells were completed and brought on production in April 2025.
    • Production averaged 2,221 boe/d (58% liquids)1 for Q1 2025, which was 16% or 415 boe/d lower than Q1 2024, primarily due to the sale of the Company’s former Evi CGU in Q1 2024 and natural production declines.
    • Q1 2025 operating expenses were $29.64 boe/d, a decrease of 17% or $6.15 per boe/d from Q1 2024, principally due to the sale of the Evi CGU and certain Provost properties in Q1 2024 which experienced higher operational costs and partially offset by increases in workover costs.
    • Q1 2025 operating netback2 before the impact of derivatives was $3.7 million ($18.38/boe), and $3.7 million ($18.38/boe) after realized losses on derivatives, a 74% and a 115% increase, respectively, relative to Q1 2024. The increase was a result of slightly higher realized pricing, lower royalties and operating costs and no realized losses on derivatives.
    • Net loss totaled $6.1 million in Q1 2025, a $1.2 million increase compared to Q1 2024. The increase was due to lower petroleum and natural gas sales, higher G&A expenses, impairment expense and finance costs offset by lower operating expenses.

     _________

    1. Comprised of approximately 1,201 bbl/d of medium crude oil, 5,574 Mcf/d of conventional natural gas and 91 bbl/d of NGLs.
    2. Operating netback is a Non-GAAP financial measure and is defined below under “Advisories – Non-GAAP and Other Financial Measures”.


    FINANCIAL AND OPERATING SUMMARY

    ($000s, except per unit amounts or as indicated)     Q1 2025 Q4 2024 Q1 2024
              (Restated)(1)
    FINANCIAL          
    Revenue          
    Petroleum and natural gas sales     11,073   11,111   12,996  
    Royalties     (1,472 ) (567 ) (1,871 )
    Revenue     9,601   10,544   11,125  
    Realized gain (loss) on derivatives     –   –   (485 )
    Unrealized gain (loss) on derivatives     –   –   416  
    Revenue, net of gains (losses) on derivatives     9,601   10,544   11,056  
    Net loss(1)     (6,137 ) (10,123 ) (4,945 )
    $ per share – Basic     –   (0.01 ) (0.01 )
    $ per share – Diluted     –   (0.01 ) (0.01 )
    Adjusted Funds Flow(2)     1,782   (192 ) 27  
    $ per share – Basic     –   –   –  
    $ per share – Diluted     –   –   –  
    Capital expenditures(2)     8,023   9,083   578  
    Net capital expenditures(2)     8,099   9,023   (23,600 )
    Common Shares outstanding (000s)          
    End of period     1,401,335   1,197,401   716,087  
    Weighted average – Basic     1,273,892   1,170,310   715,861  
    Weighted average – Diluted     1,273,892   1,170,310   715,861  
    OPERATING          
    Production Volumes          
    Crude oil and condensate (bbl/d)     1,201   1,298   1,495  
    Natural gas (Mcf/d)     5,574   6,107   6,498  
    Natural gas liquids (bbl/d)     91   69   58  
    Total (boe/d)(3)     2,221   2,385   2,636  
    % Liquids     58 % 57 % 59 %
    Realized Prices          
    Crude oil and condensate ($/bbl)     86.88   83.16   80.75  
    Natural gas ($/Mcf)     2.43   1.49   2.64  
    Natural gas liquids ($/bbl)     56.53   53.93   85.21  
    Total ($/boe)(3)     55.39   50.65   54.17  
    Operating Netback ($/boe)          
    Realized price     55.39   50.65   54.17  
    Royalties     (7.37 ) (2.58 ) (7.80 )
    Operating costs(1)     (29.64 ) (30.02 ) (35.79 )
    Operating netback(2)     18.38   18.05   10.58  
    Realized gains (losses) on derivatives     –   –   (2.02 )
    Operating netback, after realized gains (losses) on derivatives(1)(2)     18.38   18.05   8.56  
    (1)   Restated. For further information, refer to the “Restatements” section in the MD&A.
    (2)   This is a Non-GAAP financial measure. For further information, refer to “Advisories – Non-GAAP and Other Financial Measures” below.
    (3)   The term barrels of oil equivalent (“boe”) may be misleading, particularly if used in isolation. Per boe amounts have been calculated by using the conversion ratio of six thousand cubic feet (6 Mcf) of natural gas to one barrel (1 bbl) of crude oil. Refer to “Advisories – Barrels of Oil Equivalent” below.
         

    ABOUT PRAIRIE PROVIDENT

    Prairie Provident is a Calgary-based company engaged in the development of oil and natural gas properties in Alberta. The Company’s strategy is to optimize cash flow from its existing assets to fund low-risk development and maintain stable cash flow while limiting its production decline.

    For further information, please contact:

    Dale Miller, Executive Chairman
    Phone: (403) 292-8150
    Email: investor@ppr.ca

    ADVISORIES

    Forward-Looking Statements

    This news release contains certain statements (“forward-looking statements”) that constitute forward- looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future performance, events or circumstances, are based upon internal assumptions, plans, intentions, expectations and beliefs, and are subject to risks and uncertainties that may cause actual results or events to differ materially from those indicated or suggested therein. All statements other than statements of current or historical fact constitute forward-looking statements. Forward- looking statements are typically, but not always, identified by words such as “anticipate”, “believe”, “expect”, “intend”, “plan”, “budget”, “forecast”, “target”, “estimate”, “propose”, “potential”, “project”, “continue”, “may”, “will”, “should” or similar words suggesting future outcomes or events or statements regarding an outlook.

    Without limiting the foregoing, this news release contains forward-looking statements pertaining to Basal Quartz drilling opportunities.

    Forward-looking statements are based on a number of material factors, expectations or assumptions of Prairie Provident which have been used to develop such statements, but which may prove to be incorrect. Although the Company believes that the expectations and assumptions reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements, which are inherently uncertain and depend upon the accuracy of such expectations and assumptions. Prairie Provident can give no assurance that the forward-looking statements contained herein will prove to be correct or that the expectations and assumptions upon which they are based will occur or be realized. Actual results or events will differ, and the differences may be material and adverse to the Company. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: results from drilling and development activities; consistency with past operations; the quality of the reservoirs in which Prairie Provident operates and continued performance from existing wells (including with respect to production profile, decline rate and product type mix); the continued and timely development of infrastructure in areas of new production; the accuracy of the estimates of Prairie Provident’s reserves volumes; future commodity prices; future operating and other costs; future USD/CAD exchange rates; future interest rates; continued availability of external financing and internally generated cash flow to fund Prairie Provident’s current and future plans and expenditures, with external financing on acceptable terms; the impact of competition; the general stability of the economic and political environment in which Prairie Provident operates; the general continuance of current industry conditions; the timely receipt of any required regulatory approvals; the ability of Prairie Provident to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of the operator of the projects in which Prairie Provident has an interest in to operate the field in a safe, efficient and effective manner; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration; the timing and cost of pipeline, storage and facility construction and expansion and the ability of Prairie Provident to secure adequate product transportation; the regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which Prairie Provident operates; and the ability of Prairie Provident to successfully market its oil and natural gas production.

    The forward-looking statements included in this news release are not guarantees of future performance or promises of future outcomes and should not be relied upon. Such statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward- looking statements including, without limitation: reduced access to external debt financing; higher interest costs or other restrictive terms of debt financing; changes in realized commodity prices; changes in the demand for or supply of Prairie Provident’s products; the early stage of development of some of the evaluated areas and zones; the potential for variation in the quality of the geologic formations targeted by Prairie Provident’s operations; unanticipated operating results or production declines; changes in tax or environmental laws, royalty rates or other regulatory matters; the imposition of new or additional tariffs or other restrictive trade measures or countermeasures affecting trade between Canada and the United States; changes in development plans of Prairie Provident or by third party operators; increased debt levels or debt service requirements; inaccurate estimation of Prairie Provident’s oil and reserves volumes; limited, unfavourable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; and such other risks as may be detailed from time-to-time in Prairie Provident’s public disclosure documents (including, without limitation, those risks identified in this news release and Prairie Provident’s current Annual Information Form dated March 31, 2025 as filed with Canadian securities regulators and available from the SEDAR+ website (www.sedarplus.ca) under Prairie Provident’s issuer profile).

    The forward-looking statements contained in this news release speak only as of the date of this news release, and Prairie Provident assumes no obligation to publicly update or revise them to reflect new events or circumstances, or otherwise, except as may be required pursuant to applicable laws. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

    Oil and Gas Reader Advisories

    Barrels of Oil Equivalent

    The oil and gas industry commonly expresses production volumes and reserves on a “barrel of oil equivalent” (“boe”) basis whereby natural gas volumes are converted at the ratio of six thousand cubic feet to one barrel of oil. The intention is to sum oil and natural gas measurement units into one basis for improved analysis of results and comparisons with other industry participants. A boe conversion ratio of six thousand cubic feet to one barrel of oil is based on an energy equivalency conversion method primarily applicable at the burner tip. It does not represent a value equivalency at the wellhead nor at the plant gate, which is where Prairie Provident sells its production volumes. Boes may therefore be a misleading measure, particularly if used in isolation. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency ratio of 6:1, utilizing a 6:1 conversion ratio may be misleading as an indication of value.

    Potential Drilling Opportunities vs Booked Locations

    This news release refers to potential drilling opportunities and booked locations. Unless otherwise indicated, references to booked locations in this news release are references to proved drilling locations or probable drilling locations, being locations to which Trimble Engineering Associates Ltd. (Trimble), the Company’s independent qualified reserves evaluator, attributed proved or probable reserves in its most recent year-end evaluation of Prairie Provident’s reserves data, effective December 31, 2024. Trimble’s year-end evaluation was in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities and, pursuant thereto, the Canadian Oil and Gas Evaluation (COGE) Handbook. References in this news release to potential drilling opportunities are references to locations for which there are no attributed reserves or resources, but which the Company internally estimates can be drilled based on current land holdings, industry practice regarding well density, and internal review of geologic, geophysical, seismic, engineering, production and resource information. There is no certainty that the Company will drill any particular locations, or that drilling activity on any locations will result in additional reserves, resources or production. Locations on which Prairie Provident in fact drills wells will ultimately depend upon the availability of capital, regulatory approvals, seasonal restrictions, commodity prices, costs, actual drilling results, additional reservoir information and other factors. There is a higher level of risk associated with locations that are potential drilling opportunities and not booked locations. Prairie Provident generally has less information about reservoir characteristics associated with locations that are potential drilling opportunities and, accordingly, there is greater uncertainty whether wells will ultimately be drilled in such locations and, if drilled, whether they will result in additional reserves, resources or production.

    Initial Production Rates

    This news release discloses initial production (IP) rates for certain wells as indicated. Initial production rates are not necessarily indicative of long-term well or reservoir performance or of ultimate recovery. Actual results will differ from those realized during an initial short-term production period, and the difference may be material.

    Non-GAAP and Other Financial Measures

    This news release discloses certain financial measures that are ‘non-GAAP financial measures’, ‘non-GAAP ratios’ or ‘supplementary financial measures’ within the meaning of applicable Canadian securities laws. Such measures do not have a standardized or prescribed meaning under International Financial Reporting Standards (IFRS) and, accordingly, may not be comparable to similar financial measures disclosed by other issuers. Non-GAAP and other financial measures are provided as supplementary information by which readers may wish to consider the Company’s performance but should not be relied upon for comparative or investment purposes. Readers must not consider Non-GAAP and other financial measures in isolation or as a substitute for analysis of the Company’s financial results as reported under IFRS. For a reconciliation of each non-GAAP measure to its nearest IFRS measure, please refer to the “Non-GAAP and Other Financial Measures” section of the MD&A.

    This news release also includes reference to certain metrics commonly used in the oil and gas industry but which do not have a standardized or prescribed meanings under the Canadian Oil and Gas Evaluation (COGE) Handbook or applicable law. Such metrics are similarly provided as supplementary information by which readers may wish to consider the Company’s performance but should not be relied upon for comparative or investment purposes.

    Following is additional information on non-GAAP and other financial measures and oil and gas metrics used in this news release.

    Adjusted Funds Flow (“AFF”) – AFF is a Non-GAAP financial measure calculated based on net cash from operating activities before changes in non-cash working capital, transaction costs, restructuring costs and other non-recurring items. The Company believes that AFF provides a useful measure of the Company’s operational performance on a continuing basis by eliminating certain non-cash charges and charges that are non-recurring or discretionary. Management utilizes the measure to assess the Company’s ability to finance capital expenditures and debt repayments. AFF as presented is not intended to represent cash flow from operating activities, net earnings or other measures of financial performance calculated in accordance with IFRS. AFF per share is calculated based on the weighted average number of common shares outstanding consistent with the calculation of earnings per share. AFF per share is a Non-GAAP ratio.

    Operating Netback – Operating netback is a Non-GAAP financial measure commonly used in the oil and gas industry, which the Company believes is a useful measure to assist management and investors to evaluate operating performance. Operating netback included in this report were determined by taking oil and gas revenues less royalties and operating costs. Operating netback, after realized gains (losses) on derivatives, adjusts the operating netback for only the realized portion of gains and losses on derivatives. Operating netback may be expressed in absolute dollar terms or on a per boe basis. Per boe amounts are determined by dividing the absolute value by working interest production. Operating netback per boe and operating netback, after realized gains (losses) on derivatives per boe are Non-GAAP financial ratios.

    Capital Expenditures and Net Capital Expenditures – Capital expenditures and net capital expenditures are Non-GAAP financial measures commonly used in the petroleum and natural gas industry, which the Company believes are useful measures to assist management and investors to assess Prairie Provident’s investment in its existing asset base. Capital expenditures is calculated as the sum of property and equipment expenditures and exploration and evaluation expenditures from the consolidated statements of cash flows that is most directly comparable to cash flows used in investing activities. Net capital expenditures is calculated as capital expenditures, plus acquisitions from business combinations, which is the outflow cash consideration paid to acquire oil and gas properties, less asset dispositions (net of acquisitions), which is the cash proceeds from the disposition of producing properties and undeveloped lands.

    The MIL Network –

  • MIL-OSI New Zealand: ACT invokes “agree to disagree” on firearms registry review

    Source:

    ACT has formally invoked the “agree to disagree” provisions of its coalition agreement in relation to the firearms registry, Nicole McKee says.

    “Earlier this month, I asked Cabinet to consider that the recent review of the firearms registry did not meet the commitment in ACT’s coalition agreement. I also asked that a more thorough and independent review be conducted in the 2025/26 financial year. Unfortunately, these proposals were rejected by National.”

    “I also sought Cabinet agreement to delay the upcoming ‘activating circumstance’ that would apply to ammunition purchases from June 2025.

    “There is currently no clear definition of ammunition in the legislation, creating confusion. Pushing back the date to December 2026 would have provided time to build public trust in the registry and ensure clarity in the law. This recommendation was also rejected.”

    The ACT Party’s coalition agreement includes a commitment to review the firearms registry to determine whether it is effectively improving public safety. However, the review that was conducted fell short of that standard.

    “The purpose of the review was to establish a clear evidence base, covering public safety impacts, government costs, compliance burdens for licensed firearms owners, and international comparisons. In my view, the review failed to deliver on these objectives,” Mrs McKee says.

    “Although the review acknowledged there was limited data available to assess the registry’s impact, it makes only limited use of domestic data, such as enforcement trends prior to the registry, or the experience of the 20 percent of licence holders already registered. Nor did it meaningfully examine international examples that could have provided further insight.

    “These are not gaps in available information but gaps in the analysis which was undertaken.  One of the key conclusions – that the registry is justified if it prevents just two fatalities a year – is speculative and unsupported by evidence. Without a clear model of risk reduction or causal link to public safety outcomes, that claim is difficult to defend.”

     “The review focused narrowly on operational costs to government but gave little weight to future changes, such as the inclusion of a dealers registry – projected to cost an additional $20 million – and the ongoing compliance costs for responsible firearms owners.”

    “Significantly, the review also failed to account for privacy concerns.  Given past breaches of firearms owners’ personal data, it is troubling that the review did not assess the risks associated with centralising sensitive information in the registry. This despite the fact I am aware of six breaches of data since 2019.”

    “Despite these differences on the registry, our coalition partners continue to work constructively together to ensure the rewrite of the Arms Act delivers effective, evidence-based regulation that reflects best practice. As we push ahead with that process public safety remains at the heart of what we are doing.”

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Fiscal fantasyland: Greens’ budget shows why we need financial literacy in schools

    Source:

    “The Greens’ proposal to blow out the national debt to 54 percent of GDP shows why we need financial literacy in schools,” says ACT Leader David Seymour.

    “Anyone with a mortgage understands that when you’re deep in debt, you end up spending so much on the interest that you can’t cover the essentials. We’re already burning through nearly $9 billion a year just to pay the interest on Government debt.

    “At last count, our national debt is growing by almost $2 million an hour, or more than $47 million a day.

    “Now the Greens want to heap on more than $40 billion in new borrowing compared to 2024 – a staggering figure that will fall on the shoulders of young people and children that aren’t yet born. That means billions more in interest payments, siphoned away from the very services the Greens claim to care about.

    “The Greens reckon their numbers will add up by just taxing Kiwis harder – 39% for income above $120,000, 45% at $180,000, a new tax on assets, a higher company tax rate, and an inheritance tax that would force farming families to sell their generational land.

    “Anyone with the financial sense the Greens lack would simply take their career, their business, and their money overseas.

    “A private jet tax isn’t a serious policy proposal; it’s an empty display of the Greens’ eat-the-rich mentality. They want us to believe all our problems are caused by other people’s success, because they can’t be bothered coming up with any ideas that would generate new wealth to meet our country’s challenges.

    “The Left’s ideas are all about telling successful New Zealanders ‘you’re not welcome here’, dividing the wealth we have rather than creating more, and siphoning off more money for the Wellington bureaucracy. It all adds up to a poorer, more miserable New Zealand.

    “ACT says we need to put power back in the hands of people, not bureaucrats. That means choosing freedom over control, responsibility over excuses, and aspiration over resentment.”

    MIL OSI New Zealand News –

  • MIL-Evening Report: Young detainees often have poor mental health. The earlier they’re incarcerated, the worse it gets

    Source: The Conversation (Au and NZ) – By Emaediong I. Akpanekpo, PhD Candidate, School of Population Health, UNSW Sydney

    Populist rhetoric targeting young offenders often leads to kneejerk punitive responses, such as stricter bail laws and lowering the age of criminal responsibility. This, in turn, has led to more young people being held in detention.

    In Australia, the number of young people held in detention facilities increased by 8% (from 784 to 845) between the June quarter of 2023 and the June quarter of 2024.

    But what if some of these young people were treated and helped, rather than incarcerated? A series of recently published studies examining mental health in the youth justice population suggests treatment would be more beneficial than punitive measures – some of which may even promote persistent offending.

    Increased incarceration

    New South Wales saw a 31% increase in young people in detention between 2023 and 2024.

    Increases in youth detention numbers have also been reported in Queensland, the Australian Capital Territory, Tasmania and South Australia over the same period.

    About 60% of young people in detention are First Nations youth.

    Custody as a catalyst

    Young people in the justice system have significantly higher rates of mental ill-health and adverse childhood experiences than their peers in the general population.

    However, less clear is how involvement in the justice system, particularly custody, affects the severity and trajectory of these mental health issues over time.

    Our team examined how exposure to the justice system affected mental health among young people in NSW. We analysed administrative health and justice data over two years post-supervision.

    These data came from more than 1,500 justice-involved youth who participated in the Young People in Custody Health Survey in 2003, 2009 and 2015 and Young People on Community Orders Health Survey between 2003 and 2006.

    We found young people who had spent time in custody faced markedly higher rates of subsequent psychiatric hospitalisation compared with those supervised in the community.

    The risk of psychiatric hospitalisations was higher for those with multiple custody episodes. This demonstrates the significant negative impact of incarceration on the mental health of young people long after they are released.

    We also examined how the impact of custody on psychiatric hospitalisations differed by age.

    We found psychiatric hospitalisation rates were similar among youth aged 14–17 years who had been supervised in the community, compared with those aged 18 and older.

    However, youth aged 14–17 who were placed in custody were hospitalised at significantly higher rates than their older peers aged 18 and above.

    This suggests incarceration is particularly harmful for younger offenders.

    How does this affect crime?

    When we examined the long-term consequences of youth detention on subsequent offending, we found conviction during adolescence, especially before the age of 14, significantly increased the likelihood of later entering the adult prison system.

    Those who were incarcerated during adolescence faced a fivefold increase in the risk of being incarcerated as an adult, compared with young people who’d never been in custody.

    This suggests it may be beneficial to delay the involvement of young people in the justice system to help prevent repeat offending in the future.

    Breaking the cycle

    So what can be done to help?

    In NSW, laws allow young people with mental health conditions to be diverted from judicial processes into treatment. Such laws for young people also exist in other states, although specific models vary.

    While research shows those diverted into treatment have a lower risk of reoffending, less than half of eligible youth receive this option.

    How do we help those who miss out? Our studies examined whether going to mental health services voluntarily (without a court order) could help reduce recidivism.

    Among boys who had been in custody, we found they were 40% less likely to reoffend if they received mental health treatment after release than those who did not receive such treatment.

    A similar, but larger, benefit was observed among boys supervised in the community. There, mental health treatment was associated with a 57% reduction in reoffending risk.

    Evidence-based reform

    Evidence shows punitive measures do not deter youth crime, but instead are likely to perpetuate cycles of offending into adulthood.

    Policymakers should reimagine youth justice to protect young people and create real pathways to rehabilitation.

    Raising the minimum age of criminal responsibility to delay the onset of formal contact with the justice system aligns with developmental science and prevents early criminalisation of young people.



    Read more:
    Locking up young people might make you feel safer but it doesn’t work, now or in the long term

    Enhancing routine mental health screening in the justice system and expanding access to diversion programs is warranted.

    Our findings on the benefits of routine mental health treatment highlight the potential for more integrated approaches. When combined with wraparound services for health and education, they could be even more effective.

    As detaining a young person costs around $1 million annually, mental health treatment-based approaches make sound financial sense too.

    Tony Butler receives funding from the National Health and Medical Research Council.

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

    – ref. Young detainees often have poor mental health. The earlier they’re incarcerated, the worse it gets – https://theconversation.com/young-detainees-often-have-poor-mental-health-the-earlier-theyre-incarcerated-the-worse-it-gets-252376

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: PREPARED REMARKS: Sanders on Trump’s ‘Disastrous’ Reconciliation Bill

    US Senate News:

    Source: United States Senator for Vermont – Bernie Sanders

    WASHINGTON, May 13 – Sen. Bernie Sanders (I-Vt.) today  gave remarks on the floor of the Senate opposing Trump’s “big, beautiful” budget reconciliation bill which will cut Medicaid, nutrition, education, and other programs for working families. 

    Sanders remarks, as prepared for delivery, are below and can be watched HERE:

    The American people, whether they are Democrats, Republicans or Independents, understand that we have a corrupt campaign finance system which allows billionaires and their lobbyists to play an enormously powerful role in electing candidates, defeating candidates and in crafting legislation. This is true of the Democratic Party and it is true of the Republican Party. 

    Today, with Republicans in control of the White House, the U.S. Senate and the U.S. House, we are seeing how this corrupt process plays out for the priorities of the Republican party and for their billionaire campaign contributors.

    M. President: This so-called reconciliation bill, President Trump’s “big, beautiful bill” that the Republicans are rushing through the House right now is a rather extraordinary piece of legislation. In many respects, given the crises facing our country, this legislation does exactly the opposite of what should be done.

    It is no secret that we have more income and wealth inequality in our country today than we have ever had.

    Today, the wealthiest man in the world, Mr. Elon Musk, who is now worth more than $400 billion, owns more wealth than the bottom 52% of American society. The top 1% owns more wealth than the bottom 93%. And CEOs of large corporations now make over 350 times what their workers make.

    Unbelievably, according to the RAND Corporation, over the past 50 years, nearly $80 trillion in wealth has been redistributed from the bottom 90% of the American people to the top 1%.

    What we have seen is the very wealthiest people in America are becoming much richer while at the same time, 60% of Americans are living paycheck to paycheck and many millions of families are struggling to put food on the table. That is the economic reality of today.

    What does President Trump and Republicans’ reconciliation bill do to address this grossly unfair and unstable situation? What are they doing when the very rich are becoming much richer while working families struggle?

    Here’s the answer: this legislation makes the rich and wealthy campaign contributors even richer while making life harder and more stressful for the working families of our country.

    This legislation provides massive tax breaks to the top 1% and large corporations in our country and pays for these tax cuts by cutting Medicaid, the Affordable Care Act, nutrition, education and other programs that are life and death for working families.

    Let me give you one example of how outrageous this legislation is.

    As currently written, this bill provides a $235 billion tax break to the top two-tenths of 1% by increasing the estate tax exemption for couples to $30 million.

    The estate tax is only applicable to the very wealthiest people in this country who inherit substantial sums of money from a relative.

    Under this provision, a couple that inherits $30 million would now pay ZERO tax on that inheritance. Once again, this provision applies only to the top two-tenths of 1% of Americans – the very, very wealthiest people in this country. 99.8% of Americans would not benefit by one nickel under this provision.

    Further, M. President, this legislation would provide a $420 billion tax break to large, profitable corporations that are stashing their profits in the Cayman Islands and other offshore tax havens and who, by the way, are replacing American workers with robots.

    Bottom line: The tax provisions in the reconciliation bill provide huge benefits to the people in our country who need them the least while doing great harm to ordinary Americans. 

    M. President, whether you’re a Democrat, Republican or Independent, you know that our current health care system is broken, it is dysfunctional, it is cruel and it is wildly expensive. 

    Despite spending almost twice as much per capita on health care as any other major nation, some 85 million Americans are uninsured or underinsured. And we remain the only major country on earth not to guarantee healthcare to all as a human right.

    So, given that reality, how does this reconciliation bill address the horrific health care crisis in America? Does it expand health care to more Americans and lower the number of uninsured? Does it take on the greed of the insurance companies and the drug companies who make tens and tens of billions of dollars every year by ripping off the people of our country? Is that what this reconciliation bill does? Not quite.

    What this legislation does do is cut Medicaid and the Affordable Care Act by $715 billion, which the Congressional Budget Office has estimated would eliminate  health insurance for over 13.7 million Americans. In other words, this legislation makes a very bad situation, in terms of our health care crisis, catastrophically worse.

    If we were to pass this bill, the number of Americans who would be uninsured or underinsured would rise to almost 100 million Americans. In other words, instead of lowering the number of uninsured or underinsured people in this country, this bill greatly increases that number. But that’s not all that this legislation does.

    This bill forces millions of Medicaid recipients who make as little as $16,000 a year to pay a co-pay of $35 each time they visit a doctor when they get sick – up to 5% of their annual income. What will be the impact of that?

    According to a study from Yale University some 68,000 Americans die every year because they don’t get to a doctor on time.

    Now, if you’re making a couple of hundred thousand dollars a year, the odds are that a $35 co-payment will not deter you from going to the doctor. You may not like it, but you fork over the $35 to go to the doctor when you are sick.

    But M. President, if you are a low income American and you are struggling to pay the rent, or you’re struggling to buy food for your kids or pay for child care, that $35 co-pay may be just too much – and the result is that you don’t see the doctor when you should.

    M. President: When you throw almost 14 million Americans off the health insurance they have and when you force low-income people to pay a $35 co-payment that they can’t afford to pay, no one can deny that many thousands more Americans will die if this bill is signed into law.

    This bill is a death sentence for many thousands and thousands of people.

    Further, M. President, when Trump and the Republicans in the House make massive cuts to Medicaid, they are also talking about making massive cuts to community health centers which provide primary health care to over 32 million low-income and working class Americans.

    Community health centers rely on Medicaid for 43% of their revenue. When you make massive cuts to Medicaid you are significantly cutting back on the access that millions of low-income and working class Americans will have to primary health care.

    M. President, it is not just community health centers that would be devastated by this legislation. All across this country,  rural hospitals are shutting down and facing enormous financial pressure. This legislation will only accelerate those closures and bring increased hardship to rural America at a time when rural America already has enough problems.

    Here is what Rick Pollack, the president and CEO of the American Hospital Association said: “These proposed cuts will not make the Medicaid program work better for the 72 million Americans who rely on it. Instead, it will lead to millions of hardworking Americans losing access to health care and many of our nation’s hospitals struggling to maintain services and stay open for their communities.”

    Further, M. President, I hope my colleagues will listen to what Bruce Siegel, the president and CEO of America’s Essential Hospitals said in opposition to this bill: “Hospitals, which already operate on thin margins, cannot absorb such losses without reducing services or closing their doors altogether.”

    That is exactly what rural America does not need. We don’t need more hospitals shutting down. M. President, we cannot allow that to happen.

    And let’s be clear: It’s not just hospitals and community health centers that are opposed to this legislation. Physicians throughout this country have also come out in strong opposition to this legislation.

    Let me read from a statement issued today in opposition to this bill from the American Academy of Family Physicians, the American Academy of Pediatrics, the American College of Obstetricians and Gynecologists, the American College of Physicians and the American Psychiatric Association: “Our organizations, representing more than 400,000 physicians who serve millions of patients, are alarmed by proposals to implement cuts or other structural changes to Medicaid during the budget reconciliation process. Cuts to Medicaid will have grave consequences for patients, communities and the entire health care system. With reduced federal funding, it will be harder for patients to access care, states will be forced to drop enrollees from coverage, and it will limit the health care services patients can access and cut payment rates … The impact of cuts to Medicaid funding is significant and wide-reaching, and it must be reconsidered.”

    That’s what medical organizations in our country representing 400,000 doctors are saying about this disastrous piece of legislation.

    Further, M. President, at a time when 22% of our seniors are trying to survive on less than $15,000 a year, this legislation will make it much harder for seniors and people with disabilities to receive the care they desperately need in nursing homes. When Medicaid provides over 60% of the revenue nursing homes rely on, slashing Medicaid will be a disaster for the seniors and disabled who need to live in nursing home care.

    And that’s not all that this legislation is doing.

    For the vast majority of Americans, including myself, who believe that women should have the right to control their own bodies, this bill essentially defunds Planned Parenthood which provides vital health care to millions of women.

    But it is not just our health care system that would be devastated under this legislation.

    While this bill provides massive tax breaks to billionaires, it would cut $290 billion from nutrition programs that would take food away from an estimated 4 million children and about half a million seniors.

    M. President: I don’t know if there is any religion in this world where it would be morally appropriate to take food out of the mouths of hungry kids and frail seniors in order to provide more tax breaks to billionaires?

    Further, M. President: For the many young people in our country struggling with student debt and others who wonder how they will ever be able to afford to go to college, this bill cuts federal funding for education by more than $350 billion.

    What does that mean? Among other things, it means that the average student loan borrower with a bachelor’s degree in America would see his or her loan payments increase by about $3,000 per year – or some $244 a month.

    At a time when college is now unaffordable for millions of young people, at a time when we desperately need a well-educated population and the best educated workforce in the world, this bill moves us in the wrong direction.

    Finally, M. President, at a time when we already spend more on the military than the next nine nations combined and when everyone knows there is massive waste and fraud in the Pentagon, this bill increases defense spending by $150 billion.

    And M. President, this is just some of what’s in this terrible bill. There are many other horrific provisions which are equally damaging that I have not touched upon.

    M. President, it seems to me that this bill reflects exactly what is wrong with our current corrupt political system. When we have massive income and wealth inequality, our job is to demand that the wealthy and large corporations start paying their fair share of taxes, not give huge tax breaks to the very rich.

    When 85 million Americans are uninsured or underinsured, our job should be to guarantee health care to every man, woman and child in this country, not throw 13 million Americans off of the health care they currently have.

    When children and seniors go hungry here in the wealthiest country on Earth, our job should be to make sure that all Americans have the nutrition they need to lead healthy lives, not increase the level of hunger in our country. 

    M. President, in many respects, this bill represents exactly why many Americans are giving up on democracy and  have such contempt for Congress. At a time when the richest people have never had it so good, they see Republican leadership working overtime to make the billionaire class even richer. 

    At a time when a majority of Americans are struggling to put food on the table and pay for health care, they see Republican leadership making life even more difficult for average Americans.

    M. President, this is a disastrous piece of legislation. I urge my colleagues to oppose it.

    MIL OSI USA News –

  • MIL-OSI Australia: ATO warns against websites sharing fake news on superannuation preservation age

    Source: New places to play in Gungahlin

    The Australian Taxation Office (ATO) is warning the community about a proliferation of dodgy websites sharing fake news about changes to the superannuation preservation rules and withdrawal rules starting on 1 June.

    ATO Deputy Commissioner Emma Rosenzweig confirmed the maximum preservation age (the age when you can access your superannuation savings on retirement) is 60 for anyone born from 1 July 1964.

    Taxpayers who have questions about the legitimacy of tax information should refer to the ATO’s website or speak to their registered tax professional if they have one.

    Quotes attributable to ATO Deputy Commissioner Emma Rosenzweig:

    ‘This is classic fake news. Always consider the source of information you see, and if in doubt go to trusted sources such as the ATO website www.ato.gov.au, your super fund website, your registered tax agent or licensed financial adviser.’

    ‘Beware of websites that might be trying to harvest your personal information such as your TFN, identity details or myGov login details.’

    ‘Think twice before acting on information heard from third-party sources, including non-official websites or on social media.’

    ‘Be cautious about ‘free expert’ tax advice. If you are going to approach someone to help you manage your tax affairs, ensure they are a practising lawyer or registered with the Tax Practitioners Board. You can check if a tax professional is registered on the Tax Practitioner’s Board websiteExternal Link.’

    Notes to journalists

    MIL OSI News –

  • MIL-OSI New Zealand: Release: Admin nearly a quarter of entire FamilyBoost spend

    Source: New Zealand Labour Party

    Nearly a quarter of the money spent on the Government’s flagship FamilyBoost policy has gone to administration, not to families to help with childcare.

    So far, the scheme has cost $62 million, $14 million of which is administration costs.  

    “That is taxpayer money that isn’t helping families with childcare, rather going to the administration costs of a scheme that is quickly becoming a farce for parents and an embarrassment for the Finance Minister,” Labour finance and economy spokesperson Barbara Edmonds said.

    “Nicola Willis catastrophically botched the numbers, recently being forced to admit only a few hundred families are getting the full amount for childcare.

    “Of the 130,000 families she claimed would receive some support, a figure she revised to 100,000 upon coming into Government, only half are getting any money at all. Now we find out that nearly a quarter of the cost of the scheme is being spent administering it.

    “This scheme is unnecessarily complicated for time-poor parents, who have to keep invoices for childcare and submit them for a rebate. It’s clearly complicated for officials too given $14 million is being spent on administration.  

    “Costs are piling up on families under this Government and people are not getting what they were promised to help them with the cost of living,” Barbara Edmonds said.

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    MIL OSI New Zealand News –