Category: Economy

MIL-OSI China: Strong Chinese economy in Q1 demonstrates resilience, say pundits

Source: China State Council Information Office

China’s economy delivered a strong start in the first quarter, demonstrating steady performance and resilience, economists and observers have said.

The country’s gross domestic product (GDP) grew 5.4 percent year on year to 31.8758 trillion yuan (about 4.42 trillion U.S. dollars) in the first quarter of 2025, data from the National Bureau of Statistics (NBS) showed Wednesday.

Describing China’s improved GDP as “excellent news,” Professor John Bryson from the University of Birmingham in Britain, told Xinhua that China has been shifting away from a focus on exports combined with infrastructure investment to a more balanced approach that includes an increase in consumer demand within China.

“This process of rebalancing means that some of the drivers of national economic growth are being localized,” Bryson said, adding that the outcome of this rebalancing exercise is seen with the release of the latest GDP figures.

A rebalanced Chinese economy with more local consumer demand represents one approach to ensuring national economic sustainability, Bryson said.

China’s GDP grew 5 percent year on year in 2024 and the country has targeted its full-year economic growth at around 5 percent for this year. The strong performance of the Chinese economy in the first quarter of 2025 shows its resilience, positioning the country to better weather global uncertainties.

Despite the ongoing global economic headwinds and U.S. tariff pressures, China’s focus on domestic demand expansion and consumption promotion through policies like trade-in programs appears to be bolstering its economic resilience and stability, said Moteb Alshammary, chief of staff of Hisense Electronics in Saudi Arabia.

“The Chinese economy possesses significant internal strength, capable of navigating external uncertainties,” Alshammary added.

A series of measures taken by the Chinese government have enabled China’s economy to maintain rapid and stable growth, said Irfan Karsli, head of the Istanbul-based tourism agency Ligarba Travel. “In the field of consumption, the Chinese government has implemented many preferential policies, which have brought real benefits to the people and also driven the production and sales of various industries in China.”

Seeing the Chinese economy as a “stabilizer” of global economic growth, experts believe that China’s sustained economic growth has a profound impact on the world economy.

James Shikwati, a Kenyan economist, said that in the context of international trade friction and the U.S. tariffs, China’s economic growth is of great significance in boosting world confidence and promoting the world economy.

The Chinese economy is important to the rest of the world, said Dawie Roodt, a senior economist at South African wealth management company Efficient Group, adding that China will help maintain global economic growth by continuing to expand domestic demand and boost consumption.

In the views of Abu Bakr al-Deeb, advisor to the Cairo-based Arab Center for Research and Studies, China’s sustained economic expansion and its persistent efforts to integrate itself into the global economy have generated opportunities for nations worldwide.

“The size of China’s domestic market presents a matchless consumer base as this vast market translates into substantial potential for companies across many industries,” the expert noted.

By maintaining policy stability and action predictability, China has emerged as a pivotal force in overcoming global turbulence, said Marcos Pires, a professor at the Department of Political and Economic Sciences at Sao Paulo State University in Brazil, adding that amid a landscape of global uncertainties, China serves as a safe harbor and predictable anchor for nations and businesses alike.

MIL OSI China News –

April 18, 2025
MIL-OSI USA: Cantwell, Baldwin, Blunt Rochester Demand Answers on Lutnick’s Failure to Protect Minority Business Development Agency
US Senate News:
Source: United States Senator for Washington Maria Cantwell

04.17.25

Cantwell, Baldwin, Blunt Rochester Demand Answers on Lutnick’s Failure to Protect Minority Business Development Agency

As Trump tariffs batter U.S. economy, Lutnick RIFs entire agency that helps boost minority entrepreneurship, ignite economic opportunity & create jobs in rural, suburban & urban communities across the country

WASHINGTON, D.C. – U.S. Senators Maria Cantwell, Ranking Member of the Senate Committee on Commerce, Science and Transportation, Tammy Baldwin (D-Wis.) and Lisa Blunt Rochester (D-Del.) wrote to Trump Commerce Secretary Howard Lutnick demanding documents and full accounting of his actions to shutter the Minority Business Development Agency (MBDA) despite vowing not to support efforts to dismantle it. Today’s letter follows a March 24 letter from Sens. Cantwell and Blunt Rochester, warning Lutnick of the devastating impacts a reduction in force would have on small businesses and the nation’s economy.

“Since sending that letter, our offices have received information indicating the Trump Administration sent reduction-in-force (RIF) notices to every MBDA employee—effectively shuttering an agency that Congress has authorized,” the senators wrote today. “If true, this action would not only prevent MBDA from successfully carrying out its congressionally mandated programs and duties; it would appear to contradict the testimony you provided during your confirmation hearing.”

During his confirmation hearing before the Commerce Committee, Lutnick said he did not support dismantling the agency which was created by President Nixon in 1969 and codified into law by Congress with bipartisan support in 2021. The MBDA is responsible for promoting the growth and global competitiveness of minority owned businesses, including by assisting these businesses with access to capital, contracts, markets and business networks through partnerships with private and public entities. In Fiscal Year 2024 alone, the MBDA helped the country’s more than 12 million minority businesses access over $1.5 billion in capital and create or retain approximately 23,000 jobs.

The full letter is below and here.

Secretary Lutnick:

In a letter sent on March 25, 2025, you were urged to honor your testimony before the Senate Committee on Commerce, Science, and Transportation affirming you do not support efforts to dismantle the Minority Business Development Agency (MBDA).^[1] Since sending that letter, our offices have received information indicating the Trump Administration sent reduction-in-force (RIF) notices to every MBDA employee—effectively shuttering an agency that Congress has authorized. If true, this action would not only prevent MBDA from successfully carrying out its congressionally mandated programs and duties; it would appear to contradict the testimony you provided during your confirmation hearing. Accordingly, we demand a clear and complete explanation of your Department’s actions regarding the MBDA.

As explained in the March 25, 2025, letter, the MBDA is a vital driver of economic growth for America’s minority-owned businesses.^[2] Congress statutorily authorized the agency in a bipartisan manner in 2021 to ensure American entrepreneurs facing historical barriers to business ownership had access to key tools and resources to spur innovation, open new businesses, and create good-paying jobs. In Fiscal Year 2024 alone, the MBDA helped the country’s more than 12 million minority businesses access over $1.5 billion in capital and create or retain approximately 23,000 jobs.^[3] Mindful of the MBDA’s record of success and congressional mandate, we urged you not to move forward with a RIF that would reduce MBDA’s personnel to as few as 3 full-time equivalent (FTE) employees.

Alarmingly, information provided to our offices makes clear the RIF your Department initiated at the MBDA was even more sweeping than we had feared, leaving the agency with effectively no staff. As a result, it is unclear to whom, if anyone, MBDA Business Centers are reporting or who is currently implementing MBDA’s congressionally mandated programs and duties. Your Department appears to have dismantled the MBDA without any act of Congress—disregarding the programs and initiatives the Administration is directed by statute to implement.

The Commerce Committee has a duty to conduct oversight of the agencies and programs under its jurisdiction to ensure they are implemented and operating as Congress intended. Accordingly, please provide the following documents and information no later than May 1, 2025:
- A complete description of the current staffing at MBDA, including the number of FTE employees presently working at the agency (if any), how many FTE employees are presently on administrative leave, and how many MBDA FTE employees have been sent RIF notices since January 20, 2025.
- Copies of all RIF notices sent to MBDA FTE employees since January 20, 2025.
- A complete description of all actions taken by the Department to comply with President Trump’s March 14, 2025, executive order, “Continuing the Reduction of the Federal Bureaucracy.”
- A copy of the report required in the above-referenced March 14, 2025, Executive Order from MBDA to the Director of the Office of Management and Budget confirming compliance with the Executive Order and explaining which of its components or functions are statutorily required and to what extent.
- An explanation of how the Department’s actions regarding the MBDA are consistent with the Administration’s statutory obligations under the Minority Business Development Act of 2021 (Division K of the Infrastructure Investment and Jobs Act, P.L. 117-58).
- An explanation of how the Department’s actions regarding the MBDA during your tenure as Commerce Secretary are consistent with your testimony to the Commerce Committee on January 29, 2025, and in your responses to the corresponding questions for the record. In your response, please specifically address the testimony you provided when asked if you support dismantling the MBDA, to which you responded, “I do not.”
Sincerely,

[1] Hearing, “Nomination Hearing – U.S. Secretary of Commerce”, U.S. Senate Committee on Commerce, Science, and Transportation, (Jan. 29, 2025); https://www.commerce.senate.gov/2025/1/full-committee-nomination-hearing_2_3.

[2] Press Release, “Cantwell, Blunt Rochester Demand Commerce Secretary Lutnick Protect Minority Business Development Agency from Trump’s Overreach”, U.S. Senate Committee on Commerce, Science, and Transportation, (Mar. 24, 2025); https://www.commerce.senate.gov/2025/3/cantwell-blunt-rochester-demand-commerce-secretary-lutnick-protect-minority-business-development-agency-from-trump-s-overreach.

[3] “Annual Performance Summary, Fiscal Year 2024,” Minority Business Development Agency, (accessed Mar. 24, 2025); https://www.mbda.gov/sites/default/files/2025-03/fy-2024-annual-performance-report.pdf.
MIL OSI USA News –
April 18, 2025
MIL-OSI USA: SBA Offers Disaster Relief to Michigan Small Businesses and Private Nonprofits Affected by Excessive Rain

Source: United States Small Business Administration

TLANTA – The U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans to small businesses and private nonprofit (PNP) organizations in Michigan who sustained economic losses caused by the excessive rain occurring May 1, 2024 through Sept. 15, 2024.

The disaster declaration covers the primary counties of Macomb and St. Clair, and the adjacent counties of Lapeer, Oakland, Sanilac, and Wayne.

Under this declaration, the SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries, and PNPs with financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

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

“Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.” 

The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.250% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

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

The deadline to return economic injury applications is November 28, 2025.

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About the U.S. Small Business Administration

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

MIL OSI USA News –

April 18, 2025
MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for April 18, 2025

ER Report: Here is a summary of significant articles published on EveningReport.nz on April 18, 2025.

Labor’s poll surge continues in YouGov, but they’re barely ahead in Freshwater
Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne Labor increased their lead again in a YouGov poll, but Freshwater put them ahead by just 50.3–49.7. This article also covers the final WA upper house results

Why Kinshasa keeps flooding – and why it’s not just about the rain
Source: The Conversation (Au and NZ) – By Gode Bola, Lecturer in Hydrology, University of Kinshasa The April 2025 flooding disaster in Kinshasa, the capital of the Democratic Republic of Congo, wasn’t just about intense rainfall. It was a symptom of recent land use change which has occurred rapidly in the city, turning it into

Grattan on Friday: Peter Dutton’s tax indexation ‘aspiration’ has merit – so why didn’t we hear about it before?
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Peter Dutton, now seriously on the back foot, has made an extraordinarily big “aspirational” commitment at the back end of this campaign. He says he wants to see a move to indexing personal income tax – an assault on the

Keith Rankin Essay – Barbecued Hamburgers and Churchill’s Bestie
Essay by Keith Rankin. Operation Gomorrah may have been the most cynical event of World War Two (WW2). Not only did the name fully convey the intent of the war crimes about to be committed, it, also represented the single biggest 24-hour murder toll for the European war that I have come across. On the

Public toilets could be the jewels in our cities’ crowns – if only governments would listen
Source: The Conversation (Au and NZ) – By Christian Tietz, Senior Lecturer in Industrial Design, UNSW Sydney A New South Wales Senate inquiry into public toilets is underway, looking into the provision, design and maintenance of public toilets across the state. Whenever I mention this inquiry, however, everyone nervously laughs and the conversation moves on.

Bad news – why Australia is losing a generation of journalists
Shrinking budgets and job insecurity means there are fewer opportunities for young journalists, and that’s bad news, especially in regional Australia, reports 360info ANALYSIS: By Jee Young Lee of the University of Canberra Australia risks losing a generation of young journalists, particularly in the regions where they face the closure of news outlets, job insecurity,

Why do scientists want to spend billions on a 70-year project in an enormous tunnel under the Swiss Alps?
Source: The Conversation (Au and NZ) – By Tessa Charles, Accelerator Physicist, Monash University An artist’s impression of the tunnel of the proposed Future Circular Collider. CERN The Large Hadron Collider has been responsible for astounding advances in physics: the discovery of the elusive, long-sought Higgs boson as well as other new exotic particles, possible

Could you accidentally sign a contract by texting an emoji? Here’s what the law says
Source: The Conversation (Au and NZ) – By Jennifer McKay, Professor in Business Law, University of South Australia Parkova/Shutterstock Could someone take you to court over an agreement you made – or at least appeared to make – by sending a “👍”? Emojis can have more legal weight than many people realise. A search of

Why healthy eating may be the best way to reduce food waste
Source: The Conversation (Au and NZ) – By Trang Nguyen, Postdoctoral Research Fellow, Centre for Global Food and Resources, University of Adelaide Stokkete, Shutterstock Australians waste around 7.68 million tonnes of food a year. This costs the economy an estimated A$36.6 billion and households up to $2,500 annually. Much of this food is wasted at

Why can’t I keep still after intense exercise?
Source: The Conversation (Au and NZ) – By Ken Nosaka, Professor of Exercise and Sports Science, Edith Cowan University Drazen Zigic/Shutterstock Do you ever feel like you can’t stop moving after you’ve pushed yourself exercising? Maybe you find yourself walking around in circles when you come off the pitch, or squatting and standing and squatting

‘We get bucketloads of homework’: young people speak about what it’s like to start high school
Source: The Conversation (Au and NZ) – By Katherine Stevens, PhD Candidate, Education, Murdoch University Rawpixel.com Starting high school is one of the most significant transitions young people make in their education. Many different changes happen at once – from making new friends to getting used to a new school environment and different behaviour and

How to tackle the ‘gender play gap’: 4 ways to encourage young women back into sport
Source: The Conversation (Au and NZ) – By James Kay, PhD Candidate at the College of Education, Psychology and Social Work, Flinders University matimix/Shutterstock Women’s sport has recently enjoyed unprecedented success in Australia. We have seen the Matildas sell out 16 successive home games, a world-record attendance for a women’s Test cricket match at the

Want straighter teeth or a gap between? Don’t believe TikTok – filing them isn’t the answer
Source: The Conversation (Au and NZ) – By Arosha Weerakoon, Senior Lecturer and General Dentist, School of Dentistry, The University of Queensland After decades of Hollywood showcasing white-picket-fence celebrity smiles, the world has fallen for White Lotus actor Aimee Lou Wood’s teeth. Wood was bullied for her looks in her youth and expressed gratitude for

1 in 6 New Zealanders is disabled. Why does so much health research still exclude them?
Source: The Conversation (Au and NZ) – By Rachelle Martin, Senior Lecturer in Rehabilitation & Disability, University of Otago Getty Images Disabled people encounter all kinds of barriers to accessing healthcare – and not simply because some face significant mobility challenges. Others will see their symptoms not investigated properly because it’s assumed a problem is

MIL OSI Analysis – EveningReport.nz –

April 18, 2025
MIL-OSI USA: DOGE’s Data Dive Denied: Court Grants Preliminary Injunction and Blocks Access to SSA System

Source: American Federation of State, County and Municipal Employees Union

Baltimore, MD — A federal court has granted a preliminary injunction blocking Elon Musk’s so-called “Department of Government Efficiency” (DOGE) from further accessing sensitive personal data stored within the Social Security Administration’s (SSA) systems. The ruling comes in response to a motion filed by the American Federation of State, County, and Municipal Employees (AFSCME), AFL-CIO; the American Federation of Teachers (AFT); and the Alliance for Retired Americans, all represented by Democracy Forward.

Today’s decision provides significant relief and is essential in halting DOGE’s unlawful and dangerous overreach. The court recognized that Musk’s operatives’ unprecedented access to private Social Security data, ranging from immigration records to health and financial information, violated critical privacy protections and would cause irreparable harm.

This decision sends a clear message to Elon Musk and his DOGE minions to keep their hands off Social Security,” said AFSCME President Lee Saunders. This regime of billionaires is wreaking havoc on the Social Security Administration – rolling out plans to cut services, sowing confusion, disregarding court orders and then denying how their actions will hurt those most vulnerable. We won’t stand for it. Working people spend their entire careers paying into Social Security so they can one day retire with dignity. AFSCME and our partners will keep working to protect that promise for all.

This is an important ruling that upholds our grave concern that millions of Americans have had their private information and retirement security violated by Elon Musk’s illegal actions. It stops, for now, the exploitation of data by an unelected billionaire who wants to weaponize it or use it for his and others’ personal ends. The promise of Social Security is that if you work hard and play by the rules, you can retire with dignity and grace. Elon Musk broke that basic bond of trust and today, the judge agreed that he must be held accountable,” said AFT President Randi Weingarten.

Older Americans can breathe easier knowing that Elon Musk and his DOGE team have been clearly ordered to stay away from their most personal financial and health information,” said Richard Fiesta, Executive Director of the Alliance for Retired Americans. We will always fight to ensure that every American after a lifetime of work receives the Social Security benefits they have earned and that their most sensitive information remains protected.

This is a significant relief for the millions of people who depend on the Social Security Administration to safeguard their most personal and sensitive information, said Skye Perryman, President and CEO of Democracy Forward. The court’s ruling sends a clear message: no one can bypass the law to raid government data systems for their own purposes. We will continue working with our partners to ensure that DOGE’s overreach is permanently stopped and that people’s rights are protected.

The preliminary injunction halts DOGE personnel from accessing SSA data without complying with certain legal requirements while the broader lawsuit moves forward. Plaintiffs argue that DOGE’s access violates the Privacy Act, the Social Security Act, the Internal Revenue Code, and the Administrative Procedure Act.

This decision follows a first-of-its-kind order requiring Musk and DOGE to “disgorge” and “delete” any personal data and highlighting that DOGE affiliates have been concerned that the disclosure of even their names would expose them to harassment and thus invade their privacy. However, DOGE does not appear to share a privacy concern for the millions of people whose SSA records were made available to its affiliates without their consent.

Read the complaint, the motion for temporary restraining order, the motion for preliminary injunction, and today’s ruling.

MIL OSI USA News –

April 18, 2025
MIL-OSI USA: Sullivan Welcomes Executive Order on Enhancing American Seafood Competitiveness
US Senate News:
Source: United States Senator for Alaska Dan Sullivan
04.17.25

WASHINGTON—U.S. Senator Dan Sullivan (R-Alaska) today praised an executive order issued by President Donald Trump to strengthen U.S. and Alaska fisheries. As the chair of the Senate Commerce Subcommittee on Coast Guard, Maritime, and Fisheries, Sen. Sullivan has been working with the Trump administration and introducing legislation to address challenges facing Alaska’s fishermen, including global trading practices that disadvantage Alaska fisheries, and regulations that burden Alaska fishermen.

“Last month in my speech to the Alaska Legislature, I issued a clarion call about the need to go on offense for our fishermen,” said Sen. Sullivan. “These great Alaskans have endured a perfect storm of challenges, which include unfair seafood trade practices by dictatorships like Russia and China, and onerous regulatory burdens from our own federal government. I have been working relentlessly with the Trump administration, including with the Commerce and Agriculture Departments, and the U.S. Trade Representative, to get relief for our fisherman. They listened. Today, President Trump gave our fishermen a major shot in the arm, ordering his administration to remove unnecessary federal red tape and develop an America First Seafood Strategy with measures to enhance the competitiveness of our seafood in global markets and hold bad actors in seafood trade accountable. I appreciate the Trump administration’s continued strong focus on advancing the interests and priorities of Alaska across a range of economic sectors, including our fishermen and coastal communities. I thank President Trump, Secretary Lutnick, and Ambassador Greer for taking decisive action on behalf of our hard-working fishermen, and fighting to ensure more Americans and our trading partners around the world are eating ‘freedom fish’ from Alaska—not ‘communist fish’ from the likes of Russia and China.”

Below is a timeline of Sen. Sullivan’s recent efforts to advocate on behalf of the competitiveness of Alaska’s seafood industry:

On March 11, 2022, as a result of Sen. Sullivan’s advocacy, the Biden administration announced it would prohibit the importation of Russian seafood into the United States, in addition to banning goods from several other signature sectors of Russia’s economy.

On December 22, 2023, Sen. Sullivan welcomed a new Executive Order and resulting U.S. Department of the Treasury determination to revise existing guidance that allowed all Russian-origin seafood to bypass an earlier Executive Order banning its import into the United States.

On January 29, 2025, Sen. Sullivan received Commerce Secretary Howard Lutnick’scommitment to champion the interests of Alaska’s fishermen and seafood industry.

On February 24, 2025, Sen. Sullivan reintroduced his Fighting Foreign Illegal Seafood Harvest (FISH) Act to combat foreign illegal, unreported and unregulated (IUU) fishing by blacklisting offending vessels from U.S. ports and waters, bolstering the U.S. Coast Guard’s enforcement capabilities, and advancing international and bilateral negotiations to achieve enforceable agreements and treaties.

On March 13, 2025, Sen. Sullivan wrote a letter to Ambassador Jamieson Greer, the United States Trade Representative, urging him to initiate an investigation under Section 301 of theTrade Act of 1974 into Russian and Chinese seafood trade practices.
MIL OSI USA News –
April 18, 2025
MIL-OSI China: IMF chief warns of ‘costly’ uncertainty amid recent tariff increases

Source: China State Council Information Office

International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Thursday warned that uncertainty is “costly” amid recent tariff increases, noting that rising trade barriers have an immediate impact on growth.

“Putting together all the recent tariff increases, pauses, escalations, and exemptions, it seems clear that the U.S. effective tariff rate has jumped to levels last seen several lifetimes ago,” Georgieva said in a speech before the IMF-World Bank Spring Meetings scheduled for next week.

“The complexity of modern supply chains means imported inputs feed into a broad range of domestic products. The cost of one item can be affected by tariffs in dozens of countries. In a world of bilateral tariff rates, each of which may be moving up or down, planning becomes difficult,” Georgieva said.

“The result? Ships at sea not knowing which port to sail to; investment decisions postponed; financial markets volatile; precautionary savings up. The longer uncertainty persists, the larger the cost,” she continued.

The IMF chief noted that rising trade barriers hit growth “upfront,” and protectionism erodes productivity over the long run, especially in smaller economies.

The IMF will quantify these costs in its new World Economic Outlook, to be released early next week.

“In it, our new growth projections will include notable markdowns, but not recession. We will also see markups to the inflation forecasts for some countries,” Georgieva said.

The IMF chief urged policymakers to redouble efforts to “put their own houses in order,” noting that most countries must “take resolute fiscal action to rebuild policy space,” setting out gradual adjustment paths that respect fiscal frameworks.

She also called for “agile and credible” monetary policy, along with strong financial regulation and supervision.

Highlighting the importance of “cooperation in a multi-polar world,” the IMF chief emphasized that trade policy must aim for a settlement among the largest players that preserves openness and delivers a more-level playing field – “to restart a global trend toward lower tariff rates while also reducing nontariff barriers and distortions.”

MIL OSI China News –

April 18, 2025
MIL-OSI: RBB Bancorp Declares Quarterly Cash Dividend of $0.16 Per Common Share

Source: GlobeNewswire (MIL-OSI)

LOS ANGELES, April 17, 2025 (GLOBE NEWSWIRE) — RBB Bancorp (NASDAQ: RBB) and its subsidiaries, Royal Business Bank (“the Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as “the Company”, announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per common share. The dividend is payable on May 12, 2025 to common shareholders of record as of April 30, 2025.

Corporate Overview

RBB Bancorp is a bank holding company headquartered in Los Angeles, California. As of December 31, 2024, the Company had total assets of $4.0 billion. Its wholly-owned subsidiary, Royal Business Bank, is a full service commercial bank, which provides consumer and business banking services predominantly to the Asian-centric communities in Los Angeles County, Orange County, and Ventura County in California, in Las Vegas, Nevada, in Brooklyn, Queens, and Manhattan in New York, in Edison, New Jersey, in the Chicago neighborhoods of Chinatown and Bridgeport, Illinois, and on Oahu, Hawaii. Bank services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance, a full range of depository account products and wealth management services. The Bank has nine branches in Los Angeles County, two branches in Ventura County, one branch in Orange County, California, one branch in Las Vegas, Nevada, three branches and one loan operation center in Brooklyn, three branches in Queens, one branch in Manhattan in New York, one branch in Edison, New Jersey, two branches in Chicago, Illinois, and one branch in Honolulu, Hawaii. The Company’s administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its finance and operations center is located at 7025 Orangethorpe Ave., Buena Park, California 90621. The Company’s website address is www.royalbusinessbankusa.com.

Contacts

Lynn Hopkins, EVP/Chief Financial Officer, (657) 255-3282

Safe Harbor

Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements relating to the Company’s current business plans and expectations and our future financial position and operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, the effectiveness of the Company’s internal control over financial reporting and disclosure controls and procedures; the potential for additional material weaknesses in the Company’s internal controls over financial reporting or other potential control deficiencies of which the Company is not currently aware or which have not been detected; business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the U.S. federal budget or debt or turbulence or uncertainly in domestic of foreign financial markets; the strength of the United States economy in general and the strength of the local economies in which we conduct operations; adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments; our ability to attract and retain deposits and access other sources of liquidity; possible additional provisions for credit losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to, including potential supervisory action by bank supervisory authorities; increased costs of compliance and other risks associated with changes in regulation, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; the effects of having concentrations in our loan portfolio, including commercial real estate and the risks of geographic and industry concentrations; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; severe weather, natural disasters, earthquakes, fires, such as the recent California wildfires; or other adverse external events could harm our business; geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism and/or military conflicts, including the conflicts between Russia and Ukraine, in the Middle East and increasing tensions between China and Taiwan, which could impact business and economic conditions in the United States and abroad; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including our credit quality and business operations, as well as the impact on general economic and financial market conditions; general economic or business conditions in Asia, and other regions where the Bank has operations; failures, interruptions, or security breaches of our information systems; climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs; cybersecurity threats and the cost of defending against them; our ability to adapt our systems to the expanding use of technology in banking; risk management processes and strategies; adverse results in legal proceedings; the impact of regulatory enforcement actions, if any; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in tax laws and regulations; the impact of governmental efforts to restructure the U.S. financial regulatory system; the impact of future or recent changes in Federal Deposit Insurance Corporation (“FDIC”) insurance assessment rate of the rules and regulations related to the calculation of the FDIC insurance assessment amount; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the SEC, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters, including Accounting Standards Update 2016-13 (Topic 326, “Measurement of Current Losses on Financial Instruments, commonly referenced as the Current Expected Credit Losses Model, which changed how we estimate credit losses and may further increase the required level of our allowance for credit losses in future periods; market disruption and volatility; fluctuations in the Company’s stock price; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; issuances of preferred stock; our ability to raise additional capital, if needed, and the potential resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; our ongoing relations with our various federal and state regulators, including the SEC, FDIC, FRB and California Department of Financial Protection and Innovation (“DFPI”); our success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s public reports, including its Annual Report as filed under Form 10-K for the year ended December 31, 2024, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.

The MIL Network –

April 18, 2025
MIL-OSI USA: Senator Murray Tours WSU-Vancouver Life Sciences Building, Filling Workforce Gaps in Southwest WA

US Senate News:

Source: United States Senator for Washington State Patty Murray
***PHOTOS, B-ROLL HERE***
Vancouver, WA — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, toured Washington State University’s Vancouver campus to see their recently-completed Life Sciences Building, which has been in the works for nearly a decade and specifically works to fill workforce gaps in Southwest Washington, particularly in medicine and nursing. During the visit, Senator Murray heard from students and educators about how the new building allows WSU-Vancouver to expand biology offerings—which were previously limited by a lack of lab space—and provide a new undergraduate degree in chemistry. The Life Sciences Building houses classrooms, lab space for biology and chemistry, and clinical health programs, including biology, chemistry, neuroscience, and nursing.
The opening of the Life Sciences Building also freed up space in the existing Science and Engineering Building for a new five-year partnership between the U.S. Forest Service’s Office of International Programs (USFS IP) and WSU Vancouver to combat illegal logging—where students will use state-of-the-art equipment purchased by the USFS IP to assist the Forest Service in detecting illegal timber imports and support the U.S. timber industry by ensuring legitimate trade practices. Right now, U.S. industries lose an estimated $4 billion each year as a direct result of illegal logging. Space in the Science and Engineering Building is currently being renovated for this work, and Forest Service staff will work out of these offices and labs on WSU Vancouver’s campus. This new partnership is expected to create several new educational opportunities and research outcomes for undergraduate and graduate students and allow WSU to hire new staff. WSU is also a key partner in USFS IP’s Invasive Species Program, which funds research to manage non-native forest pests and pathogens that threaten the health of U.S. forests and grasslands.
However, Trump and Elon Musk’s mass firings and steep cuts to critical services across the federal government are putting this work in jeopardy—Trump and Musk have already pushed out more than 3,000 U.S. Forest Service employees and their upcoming Reduction In Force (RIF) plans are likely to gut USFS IP and could put the agency’s partnerships with WSU at risk.
“As a proud Coug, it was great getting to see firsthand how WSU is advancing life science programs for students in Vancouver and filling workforce needs for greater Southwest Washington. Thanks to these new resources and programs, more students will be equipped to become nurses, doctors, and scientists ensuring Washington state continues to lead the way on everything from medical research to preventing invasive species from threatening our forests,” said Senator Murray. “Right now, President Trump is doing everything he can to attack education across the country and abolish the Department of Education that provides really critical support for students at WSU and all over Washington state. Trump’s attacks on the Forest Service also threaten critical partnerships with WSU on everything from combating illegal logging to managing invasive species. I will continue fighting as hard as I can to protect the funding and resources our students and schools like WSU need to thrive.”
Last year, the Department of Education distributed over $100 million in federal financial aid and support to help students across Washington attend and complete college.
“Senator Murray’s visit provided an opportunity to showcase the vital role federally funded research plays in advancing our mission—from driving cutting-edge discoveries that promote health, innovation and economic vitality in our region to expanding access and supporting student success,” said Vice Chancellor for Research and Graduate Education Christine Portfors.
A senior member and former chair of the HELP Committee, Senator Murray has championed students and families at every stage of her career—fighting to help ensure every child in America can get a high-quality public education. Among other things, Senator Murray negotiated the bipartisan Every Student Succeeds Act (ESSA), landmark legislation that she got signed into law, replacing the broken No Child Left Behind Act. As a longtime appropriator, she has successfully fought to boost funding to support students and invest in our nation’s K-12 schools, and she has secured significant increases to the Pell Grant so that it goes further for students pursuing a higher education. Senator Murray also successfully negotiated the FAFSA Simplification Act, bipartisan legislation to reform the financial aid application process, simplify the FAFSA form for students and parents, and significantly expand eligibility for federal aid.
Earlier this month, Senator Murray led a letter to Secretary Linda McMahon demanding a reversal of a new policy the Department of Education announced recently that suddenly upended departmental policy and imposed new red tape on states, which will prevent them from accessing pandemic relief funds they are counting on to support students’ learning. Senator Murray also led a letter demanding detailed answers from the Department of Education about the mass firings and other detrimental actions which risk major reductions in support for and oversight of federal investments in our nation’s K-12 schools and institutions of higher education and threaten vital support for students with disabilities, access to Pell Grants and other financial aid, oversight of student loan servicers, scrutiny of for-profit colleges, and more. The letter follows an earlier March 6 letter Senator Murray sent alongside colleagues demanding answers about the chaotic, harmful actions taken by ED since January—which the Department has yet to respond to.
During Secretary Linda McMahon’s confirmation hearing, Senator Murray pressed McMahon on whether she will ensure approved funding gets out to serve students as the law requires and whether she would protect students’ data from DOGE. She also asked McMahon to name a single requirement of ESSA—and McMahon couldn’t name any. Ahead of McMahon’s confirmation, Senator Murray spoke out on the Senate floor against her nomination and sounded the alarm over President Trump and Elon Musk’s plans to dismantle the U.S. Department of Education.
A fact sheet outlining how the Department of Education supports students in Washington state is HERE.

MIL OSI USA News –

April 18, 2025
MIL-OSI USA: In Vancouver, Senator Murray Meets with Local Businesses, ILWU, Port of Kalama to Discuss How Trump’s Chaotic Trade War is Hurting Washington State

US Senate News:

Source: United States Senator for Washington State Patty Murray
ICYMI: In Tacoma, Senator Murray Meets with Local Businesses, Port Commissioners to Discuss How Trump’s Chaotic Trade War is Hurting Washington State
ICYMI: In Senate Floor Speech, Senator Murray Hammers Trump and Republicans on Chaotic, Painful Trade War and Steep Tariffs Raising Costs on Families and Small Businesses in WA
***PHOTOS and B-ROLL HERE***
Vancouver, WA— Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, held a roundtable discussion in Vancouver highlighting how local businesses, ports, and the overall economy in Washington state is suffering from President Trump’s senseless and chaotic trade war. Senator Murray was joined for the discussion by John Rudi, CEO of Thompson Metal Fab in Vancouver; Miriam Halliday, CEO of Workforce Southwest Washington; Jared Moultrie, Vice President of the International Longshore & Warehouse Workers’ Union (ILWU) Local 4 in Vancouver; Augusto Bassanini, CEO of United Grain; and Mark Wilson, Executive Director of the Port of Kalama.
On April 2nd, President Trump announced sweeping new tariffs on nearly every country, including a 10 percent baseline tariff on all imported goods, and country-specific so-called reciprocal tariffs. Just hours after the reciprocal tariff rates took effect last Wednesday, Trump abruptly changed his mind and put a 90-day pause on reciprocal tariffs. But Trump is still taxing goods from every country, across the board, at 10 percent at least, and he is escalating his trade war with China, with 145 percent tariffs on Chinese goods—which is already leading to higher prices and serious pain for families and small business across Washington state. Senator Murray has always been vocal about the need to out-compete China, but warned that waging an all-out trade war with China on a whim will cause serious economic pain for consumers and small businesses across the country.
Even with his “pause,” Trump’s new tariff rates are still the highest in decades, and are estimated to cost American families more than $4,000 per year—the largest tax increase since 1968.
“Trump’s tariffs are a tax—a tax that will hit hardworking Americans the most. Families will be paying higher prices, small businesses will have to lay off workers, and Washington’s ports will be gutted as trade drops. That’s a lot of jobs on the line in our ports like Kalama and Vancouver along the Columbia River,” said Senator Murray. “Congress has the power to step in and put a stop to these senseless tariffs, we can bring back certainty to protect American businesses and the economy.”
“Businesses can’t function when they are waiting to see if Trump will change his mind again about what countries will have tariffs, and at what rate, as if this should be something decided on a whim,” Senator Murray continued. “Every morning small business owners, port longshoremen, warehouse workers, and families wake up wondering if today will be the day they have to close up shop or will lose their job. Congress needs to step up and put an end to these tariffs—but we need Republicans to join us in order to do that. I will keep shining a light on the consequences of Trump’s painful trade war will bring and amplifying the voices and concerns of people in Washington state.”
Washington state has one of the most trade-dependent economies of any state in the country, with 40 percent of jobs tied to international commerce. Washington state is the top U.S. producer of apples, blueberries, hops, pears, spearmint oil, and sweet cherries—all of which risk losing vital export markets due to retaliatory tariffs from key trading partners including Canada. Additionally, more than 12,000 small and medium-sized companies in Washington state export goods and will struggle to absorb the impact of retaliatory tariffs.
Canada is Washington’s largest overall trading partner, accounting for nearly $20 billion in imports and $10 billion in exports. China is the world’s second-largest economy and Washington state exported over $12 billion in goods to China last year—making China Washington state’s top export partner—and imported $11.2 billion in goods, the second-most in imports from any country aside from Canada. Trump’s tariffs during his first term were extremely costly for Washington state—for example, India imposed a 20 percent retaliatory tariff on U.S. apples, causing Washington apple shipments to India to fall by 99 percent and growers to lose hundreds of millions of dollars in exports.
“Tariffs simply add cost to major infrastructure projects, and there are very few ways the additional cost impacts of tariffs can be reduced or mitigated,” said John Rudi, CEO of Thompson Metal Fab, a veteran-owned, Vancouver-based metal fabrication company that makes products for the gas and oil industries, and is entering new markets creating products for nuclear, high-tech, and renewable energies. “There are serious concerns about the impact of tariffs on projects that have already been contracted or bid—and an even larger concern than the direct financial impact of tariffs is the uncertainty it creates. Uncertainly only delays, and possibly freezes, major industrial projects. When work is delayed, highly-skilled workers are lost, resulting in long-term impacts to industrial capacity. And once industrial demand stabilizes and returns to normal, the surge in business can result in inflationary costs due to increased competition for workers and resources… Senator Murray has been a strong and consistent advocate for job creation and infrastructure projects in our region and we are pleased to have her visit today to discuss how businesses and the local workforce are impacted by tariffs.”
“The continued volatility in international tariff strategies is creating significant challenges for workforce development across industries in Southwest Washington,” said Miriam Halliday, CEO of Workforce Southwest, the Local Workforce Development Board designated as the policy, planning and oversight body for the public workforce system in Clark, Cowlitz, and Wahkiakum counties. “Companies are increasingly hesitant to expand or invest in talent due to rising costs and economic uncertainty. For instance, a mid-sized IT Managed Service Provider located in Vancouver WA is facing a 15% increase in order costs, making it difficult to forecast budgets and commit to workforce growth. Similarly, a mid-sized die casting manufacturer located in Vancouver WA has paused its expansion this quarter—not due to lack of demand, but because financial institutions are withholding loans for new equipment out of recession fears. As a result, plans to hire and upskill workers have been deferred, highlighting how external economic pressures are directly stalling local and regional workforce development.”
“Our ports face significant challenges and uncertainties in light of potential trade wars,” said Jared Moultrie, Vice President of the International Longshore & Warehouse Workers’ Union (ILWU) Local 4 in Vancouver, representing dock workers in the region. “In 2024, the Port of Vancouver supported nearly 20,000 jobs and generated $2.9 billion in regional economic benefits. United Grain Corporation, Longshoremen, Railroad workers, Tugboat crews, Truck operators, and Farmers from the American West and Midwest facilitated the movement of 5.9 million metric tons of agricultural commodities through the Port of Vancouver. The retaliatory tariffs imposed by China have the potential to significantly reduce employment opportunities for these men and women and diminish the economic benefits within our regionThe Port of Vancouver operates as a breakbulk port, and proposed tariffs would heavily impact everything we handle. Steel is projected to experience an estimated 30 percent decrease, having never recovered from the previous set of tariffs. Currently, we service two aluminum ships per month and conduct weekly aluminum loadouts onto trucks or railcars. The aluminum sector would be seriously jeopardized if tariffs were to deepen. As the number one importer of Subaru vehicles, we are already anticipating around a 20 percent decrease in cars arriving at our dock.”
“At Local 4, our workers are concerned about job security due to the proposed tariffs. We are already contending with rising car payments, mortgage payments, and costs of goods and services. We worry about whether we will be able to afford our children’s tuition, take planned vacations, make substantial purchases, or even dine out. The trickle-down effect on regional companies, truck drivers, farmers, small businesses, and everyone in between could be devastating,” Moultrie continued. “We extend our gratitude to Senator Murray for her dedication and continued commitment to supporting the ILWU and our ports, working-class individuals, our region, our state, and the United States of America.”
“We greatly appreciate Senator Murray’s engagement and efforts to understand how the proposed tariffs are impacting American grain exports,” said Augusto Bassanini, CEO of United Grain Corporation, which sources grain and oilseeds from more than 2,000 suppliers in the Pacific Northwest and Northern Plains. “To help the 2,000 American farmers we work with remain competitive in the global market, we need certainty to navigate a global marketplace so we can continue to create jobs, domestic economic development opportunities and feed the world.”
Senator Murray has been a vocal opponent of Trump’s chaotic trade war and has been lifting up the voices of people in Washington state harmed by this administration’s approach to trade. Senator Murray continues to call on Republicans to end Trump’s trade war—which Congress has the power to do—and take back Congress’ Constitutionally-granted power to impose tariffs. Earlier this month, Senator Murray brought together leaders across Washington state who highlighted how Trump’s ongoing trade war is already a devastating hit to Washington state’s economy, businesses, and our agriculture sector. Senator Murray also took to the Senate floor to lay out how Trump’s chaotic trade war is seriously threatening our economy, American businesses, families’ retirement savings, and so much else. Earlier this week, Senator Murray joined her colleagues in pressing U.S. Trade Representative Ambassador Jamieson Greer on how the Trump administration’s tariffs are affecting farmers across the country.

MIL OSI USA News –

April 18, 2025
MIL-OSI USA: Senator Murray Visits Downtown Vancouver, Highlights Importance of Federal Investment Amid Local Concerns Over Trump Funding Freezes, Tariff Chaos

US Senate News:

Source: United States Senator for Washington State Patty Murray
ICYMI: In Vancouver, Senator Murray Meets with Local Businesses, ILWU, Port Commissioner to Discuss How Trump’s Chaotic Trade War is Hurting Washington State
***PHOTOS and B-ROLL HERE***
Vancouver, WA— Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, toured businesses in downtown Vancouver, as part of the Main Street Promise project, to see how federal investment has supported their growth and how Trump’s chaotic trade war and federal funding freezes are harming the local economy. Senator Murray was joined for the tour by Vancouver Mayor Anne McEnerny-Ogle; Michael Walker, Executive Director of the Vancouver Downtown Association; Chris Harder, Deputy Economic Development Director for the City of Vancouver; Julie Arenz, Small Business Connector and Advocate for the City of Vancouver; Ryan Hart, Chair of Visit Vancouver and Chief External Affairs Officer for the Port of Vancouver; Kelsey Jennings, Owner of Ronald Records in downtown Vancouver; and Crystal Lary, Owner of Eryngium Papeterie in downtown Vancouver.
During the visit, Senator Murray heard from business owners and leaders at the City of Vancouver about how federal investment in Vancouver has helped lay the groundwork for thriving small businesses and spurred other construction and renovation projects in the downtown core. The City of Vancouver has been working on a 20-year revitalization effort that Senator Murray helped kickstart by securing initial federal funding for the Waterfront Redevelopment Project in 2009. The Main Street Promise Project is one of the last phases of the revitalization effort and was funded through the American Rescue Plan Act Senator Murray played a leading role in crafting as then-Chair of the Senate Health, Education, Labor and Pensions (HELP) Committee. The major reconstruction project on Main Street broke ground in December 2024—with original planning work done in 1993 with the goal of improving the heart of Vancouver. The Main Street Promise Project will reconstruct Main Street to provide a safe, accessible, and connected transportation system to support existing small businesses along Main Street and attract more visitors to Downtown Vancouver.
Senator Murray also heard from small business owners and local leaders about how the Trump administration’s illegal withholding of federal funding owed to communities across the country and his reckless trade war is leading to serious uncertainty for businesses, consumers, and communities across Southwest Washington. Trump is currently taxing goods from every country—including close allies like Canada—at a minimum 10 percent tariff rate across-the-board, and he has significantly escalated his trade war with China, with 145 percent tariffs on Chinese goods—meaning higher prices and serious pain for families and small businesses across the country. Even with his 90-day “pause” on reciprocal tariffs, Trump’s new tariffs are still the highest tariff rates in decades, and are estimated to cost American families more than $4,000 per year—the largest tax increase since 1968.
“It’s wonderful to see how the federal investment I’ve fought to bring to Southwest Washington over the years has helped downtown Vancouver thrive—with so many great small businesses and new infrastructure and renovation projects that are making the heart of Vancouver a destination for shopping, eating, nightlife, and more,” said Senator Murray. “Trump is putting all the progress our communities have made at risk by illegally canceling and holding up federal funding our communities are owed, and he is putting businesses in constant turmoil with his pointless and destructive trade war. I will continue to sound the alarm on the consequences Trump’s illegal funding freezes and his ham-fisted trade war will have for American families, and I will always lift up the voices and concerns of people in Washington state.”
“The transformation of Vancouver’s downtown into a regional and national destination is years in the making,” said Vancouver Mayor Anne McEnerny-Ogle. “The current reconstruction of Main Street into a pedestrian-centered and vibrant commercial corridor represents downtown Vancouver’s most recent evolution. Over the past 20+ years, Senator Murray has been one of Vancouver’s biggest champions, helping to steer critical federal funds, such as American Rescue Plan Act dollars, to our community to help fund placemaking and infrastructure investments. The City of Vancouver would like to thank Senator Murray for her leadership and we are grateful for her willingness to partner on important local projects like Main Street Promise.”
“The Main Street Promise is a realization of a vision that’s been decades in the making. This is the third time our community has tried to bring this project to life, and now—thanks to Senator Patty Murray and the American Rescue Plan—we finally have what we need to get it done,” said Michael Walker, Executive Director of Vancouver’s Downtown Association. “This is the largest investment in Main Street in 116 years, and it’s going to reshape the heart of our downtown into a safer, more connected, and more accessible place for everyone. This project is about building a strong foundation for the future of our downtown—leaving something great for the next generation and beyond. Senator Patty Murray’s steadfast advocacy on behalf of Vancouver has helped us achieve real outcomes in the heart of our community—improving quality of life, supporting local businesses, and strengthening our downtown economy for the long term.”
“In addition, thanks to the unique opportunity provided by ARPA dollars, we’re able to go beyond traditional infrastructure work,” Walker continued. “We have staff on the ground every day and thoughtful mitigation efforts in place—like block-by-block construction—to help minimize disruption. Businesses are staying open, sidewalks remain accessible, and we’ve built a strong network of peer support to help keep our business community resilient and thriving throughout the process. For a project of this scale, we’re doing everything we can to make sure it’s as smooth and supportive as possible.
Washington state has one of the most trade-dependent economies of any state in the country, with 40 percent of jobs tied to international commerce. Washington state is the top U.S. producer of apples, blueberries, hops, pears, spearmint oil, and sweet cherries—all of which risk losing vital export markets due to retaliatory tariffs from key trading partners including Canada. Additionally, more than 12,000 small and medium-sized companies in Washington state export goods and will be unlikely to be able to absorb the impact of retaliatory tariffs. Canada is Washington’s largest trading partner, accounting for nearly $20 billion in imports and $10 billion in exports. China is the world’s second-largest economy and Washington state exported over $12 billion in goods to China last year—making China Washington state’s top export partner—and imported $11.2 billion in goods, the most in imports from any country aside from Canada. Trump’s tariffs during his first term were extremely costly for Washington state—for example, India imposed a 20 percent retaliatory tariff on U.S. apples, causing Washington apple shipments to India to fall by 99 percent and growers to lose hundreds of millions of dollars in exports.
Senator Murray has been a vocal opponent of Trump’s chaotic trade war and has been lifting up the voices of people in Washington state harmed by this administration’s approach to trade and calling on Republicans to end Trump’s trade war—which Congress has the power to do—and take back Congress’ Constitutionally-granted power to impose tariffs. Earlier this month, Senator Murray brought together leaders across Washington state who highlighted how Trump’s ongoing trade war is already a devastating hit to Washington state’s economy, businesses, and our agriculture sector. Senator Murray also took to the Senate floor to lay out how Trump’s chaotic trade war is seriously threatening our economy, American businesses, families’ retirement savings, and so much else. Earlier this week, Senator Murray joined her colleagues in pressing U.S. Trade Representative Jamieson Greer on how the Trump administration’s tariffs are affecting farmers across the country.

MIL OSI USA News –

April 18, 2025
MIL-OSI Submissions: Renewable Energy – Equinor suspends offshore construction activities for the Empire Wind project

Source: Equinor

18 APRIL 2025 – In accordance with a halt work order issued by the US government, Empire Offshore Wind LLC (Empire) will safely halt the offshore construction in waters of the outer continental shelf for the Empire Wind project.

On 16 April, Empire received notice from the Bureau of Ocean Energy Management (BOEM), ordering Empire to halt all activities on the outer continental shelf until BOEM has completed its review.

Empire is engaging with relevant authorities to clarify this matter and is considering its legal remedies, including appealing the order.

The federal lease for Empire Wind was signed with the US Administration in 2017. Empire Wind 1 has validly secured all necessary federal and state permits and is currently under construction. The project is being developed under contract with New York State Energy Research and Development Authority (NYSERDA) to provide an important new source of electricity for the State of New York. The construction phase has put more than 1,500 people to work in the US. Empire wind 1 has the potential to power 500,000 New York homes.

Empire is complying with the order affecting project activities for Empire Wind. Upon receipt of the order, immediate steps were taken by Empire and its contractors to initiate suspension of relevant marine activities, ensuring the safety of workers and the environment.

Empire Wind has per 31 March 2025 a gross book value of around USD 2.5 billion, including South Brooklyn Marine Terminal.

Equinor’s ownership to Empire is held through the Equinor Wind US LLC.

Total amount drawn under the project finance term loan facility per 31 March 2025 was around USD 1.5 billion. Empire is in the process of ascertaining the impact on the project and project financing. Equinor US Holdings Inc has provided guarantees for the equity commitment in the project financing. In a full stop scenario, the USD 1.5 billion will be repaid from the equity commitment to the project finance lenders and Empire Offshore Wind LLC will be exposed to termination fees towards its suppliers.

The halt work order will be disclosed as a subsequent event in the first quarter 2025 report.

Equinor is a broad energy company with more than 35 years of history in the US. Equinor has invested more than 60 billion USD in the US to date, including in oil, gas and renewables.

MIL OSI – Submitted News –

April 18, 2025
MIL-OSI USA: DelBene Underscores Impact of Republican Cuts to Medicaid in Washington

Source: United States House of Representatives – Congresswoman Suzan DelBene (1st District of Washington)

Today, Congresswoman Suzan DelBene (WA-01) hosted a roundtable at EvergreenHealth Monroe with Medicaid recipients, providers, and health systems to highlight the impact of the cuts Trump and Congressional Republicans are advancing to Apple Health, Washington state’s Medicaid Program.

Earlier this month, House and Senate Republicans advanced legislation that would cut hundreds of billions of dollars from Medicaid to pay for tax cuts for wealthy people and big corporations. This would amount to the largest cut in Medicaid’s history and leave states like Washington with the painful choice of cutting people from the program and reducing what services it covers. When Medicaid is cut, providers are forced to scale back services and health care costs rise for everyone.

1.8 million Washingtonians are enrolled in Apple Health. This includes children, pregnant women, parents, seniors, and people with disabilities. Approximately half of Apple Health’s budget comes from the federal government. The other half is provided by the state government.

“President Trump and Congressional Republicans promised to lower the cost of living for American families. Instead, they are trying to make the biggest cut to Medicaid in the program’s history so they can pay for tax breaks for the wealthy,” said DelBene. “Medicaid covers nearly 2 million Washington children, seniors, and others in our state. I hear from constituents daily who are worried about what these cuts would mean for them and their families. Cuts to Medicaid hurt everyone in our community because they force providers to scale back the services and health care costs go up for everyone. I will continue to stand up for Medicaid access and against these drastic cuts.”

“As a community-owned hospital, EvergreenHealth is an advocate for ensuring everyone has unhindered access to affordable care and services that they need close to home,” said EvergreenHealth CEO Ettore Palazzo, MD, FACP. “The proposed reductions could lead to significant coverage losses and financial strain on health care providers, potentially affecting millions of Americans, including more than one hundred thousand residents of King and Snohomish counties, who rely on Medicaid for essential health services.”

“Apple Health (Medicaid) provides access to health care and behavioral health services for nearly 2 million people in Washington state, including children, older adults, people with disabilities, and working families. When funding is at risk, it puts real pressure on the services for our state’s most vulnerable residents,” said Dr. Charissa Fotinos, Medical Director, State Medicaid and Behavioral Health, Washington State Health Care Authority.

Organizations participating in the event and supporting Medicaid patients include EvergreenHealth, Compass Health, Sea Mar, SEIU 775, Full Life Care, and the Washington State Health Care Authority.

More information about Medicaid’s role in Washington and the impacts of Republicans’ cuts can be found here.

MIL OSI USA News –

April 18, 2025
MIL-OSI China: China improves cross-border flow of financial data

Source: China State Council Information Office

China has issued a guideline to facilitate and regulate cross-border flow of financial data amid efforts to boost high-standard opening up of the financial sector, the central bank said Thursday.

The guideline, released by six departments, including the People’s Bank of China and the National Financial Regulatory Administration, aims to improve efficiency and compliance of cross-border flow of financial data.

It further clarifies the conditions for data export and specifies the list of data items permitted for cross-border transfer to facilitate smoother data flow.

Regarding areas such as cross-border payments, remittances, account openings, and shopping, the guideline specifies scenarios where data export is exempt from security assessments for outbound data transfers, where personal information export standard contracts can be signed, or where data export is permitted through personal information protection certification.

For cases where data cross-border compliance obligations cannot be exempted but practical needs require data export, the guideline has categorized over 60 common financial business scenarios.

Financial institutions should adopt effective data security protection efforts and technical measures to safeguard data security, according to the guideline.

Industry experts believe that providing financial institutions with clear regulatory guidance will facilitate safer, more orderly, and efficient cross-border data flow in the financial sector. This will help create a more business-friendly and inclusive environment, further enhancing international competitiveness, as well as influence in rule-making.

MIL OSI China News –

April 18, 2025
MIL-OSI Security: Owner of Money Service Business Faces Federal Charges for Laundering Drug Proceeds

Source: Office of United States Attorneys

PORTLAND, Ore.—The owner and operator of La Popular, a money service business with locations in Oregon and Washington, was arraigned in federal court today after she was charged with laundering drug proceeds.

Brenda Lili Barrera Orantes, 39, a Guatemalan national residing in Beaverton, Oregon, has been charged by criminal complaint with money laundering.

According to court documents, between 2021 and 2024, Barrera Orantes is alleged to have accepted cash from drug proceeds and wired the funds through La Popular stores in Oregon and Washington. In return, Barrera Orantes charged a ten percent commission. Barrera Orantes is further alleged to have worked with others to divide large sums of money into several smaller transactions and used fictitious sender information to conceal her money laundering activities. Financial records indicate that Barrera Orantes transferred more than $89 million through her La Popular stores, including $18.5 million to regions in Mexico and Honduras that are associated with drug trafficking organizations.

“This investigation has revealed the pivotal role that money service businesses play in laundering the enormous proceeds of trafficking illegal drugs in our community,” said Katie de Villiers, Chief of the Asset Recovery and Money Laundering Division for the District of Oregon. “The amount of dirty money allegedly flowing through these small businesses and back to Mexico and Honduras is truly staggering. We intend to hold accountable the operators of these businesses who profit by assisting drug trafficking organizations in laundering their proceeds.”

“Because crime is such a coordinated effort, it is critical that we respond in kind,” said Special Agent in Charge Adam Jobes, IRS Criminal Investigation (IRS-CI), Seattle Field Office. “IRS-CI specializes in fighting illicit financial activity, and we are proud to partner closely with our law enforcement partners to keep our communities safe.”

“Money laundering allows drug traffickers to thrive in the shadows, and by severing their cash flow we are striking at the very thing that incentivizes their illicit pursuits,” said ICE Homeland Security Investigations Seattle acting Special Agent in Charge Matthew Murphy. “By stopping those that try to conceal criminal profits, communities are protected from the violence, addiction, and instability caused by the drug trade.”

“The defendant in this case is suspected of providing financial support to overseas drug organizations under the guise of business transactions,” said FBI Portland Special Agent in Charge Doug Olson. “These are serious allegations that cause significant harm to our communities. We will never tolerate individuals who profit from activities that support a drug epidemic that harms our citizens.”

On April 16, 2025, investigators executed federal search warrants at Barrera Orantes’ residence and three La Popular stores located in Beaverton, Hillsboro, Oregon, and Vancouver, Washington. Barrera Orantes was arrested in Beaverton without incident.

Barrera Orantes made her first appearance in federal court today before a U.S. Magistrate Judge. She was ordered detained pending further court proceedings.

If convicted, Barrera Orantes faces a maximum sentence of 20 years in federal prison, five years’ supervised release, and a fine of $500,000 or twice the value of the money laundered.

This case is being investigated by the IRS-CI, Homeland Security Investigations (HSI), FBI, and the Westside Interagency Narcotics team. It is being prosecuted by Christopher L. Cardani and Julia Jarrett, Assistant U.S. Attorneys for the District of Oregon.

The Westside Interagency Narcotics team is a High Intensity Drug Trafficking Area (HIDTA) Task Force and is composed of members from the Washington County Sheriff’s Office, Beaverton Police Department, Hillsboro Police Department, FBI, HSI, and the Oregon National Guard. The Oregon-Idaho HIDTA program is an Office of National Drug Control Policy (ONDCP) sponsored counterdrug grant program that coordinates with and provides funding resources to multi-agency drug enforcement initiatives.

A criminal complaint is only an accusation of a crime, and a defendant is presumed innocent unless and until proven guilty.

This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETF) and Project Safe Neighborhoods (PSN).

The case was investigated under the Organized Crime Drug Enforcement Task Forces (OCDETF). OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. For more information about Organized Crime Drug Enforcement Task Forces, please visit Justice.gov/OCDETF.

Since 2018, IRS-CI has maintained a Third Party Money Laundering (3PML) Project. This project focuses on Complicit Money Service Businesses (MSB) working for Mexican Drug Trafficking Organizations. The purpose of this project is to develop high-impact 3PML cases for IRS-CI and other agencies across the United States, by utilizing data analytics.

MIL Security OSI –

April 18, 2025
MIL-OSI USA: Cantwell Celebrates Wenatchee Confluence Parkway Groundbreaking, Made Possible by Her Freight-Focused Grant Program

US Senate News:

Source: United States Senator for Washington Maria Cantwell
04.17.25
Cantwell Celebrates Wenatchee Confluence Parkway Groundbreaking, Made Possible by Her Freight-Focused Grant Program
Project is part of the Apple Capital Loop, which received $92M from Cantwell-led program & will help Central WA’s tree fruit growers get their products to market faster; Cantwell: “I can tell you one thing: Wenatchee is on the move”
WENATCHEE – Today, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, joined local leaders in a groundbreaking celebration for the Confluence Parkway Phase I project, the next step of the Wenatchee Valley’s 15-year effort to expand its transportation network.
“When you’re making infrastructure investment, you should try to prioritize projects that move freight – and that is because they grow jobs, they grow the economy, they help us get products to market,” Sen. Cantwell said. “I just want to give my congratulations today to everybody that’s been working hard on this. I know that the Confluence project obviously is going to solve some of those transportation challenges by reducing that congestion – 4,000 trucks travel through the area each day, as well as 24 trains […] all of this is going to make Wenatchee a little bit better, from this transportation infrastructure investment.”
“What a great day for the Confluence Project. What a great day for Wenatchee,” she continued. “I can tell you one thing: Wenatchee is on the move.”
Phase I of the Confluence Parkway Project will include:
Elimination of two highway rail grade crossings by constructing an underpass at McKittrick Street and an overpass North Miller Street
1.25 miles of new street for motorists, pedestrians, and bicyclists
Extension of McKittrick Street from North Wenatchee Ave to the waterfront
New signalized intersection at Maple Street
New roundabout intersection
Direct access to parks and trails
The Confluence Parkway project is part of the Wenatchee’s transformative Apple Capital Loop, a network of projects that make up the transportation backbone for Chelan and Douglas Counties and includes several key components that provide connectivity for freight, vehicles, bicycles, and pedestrians. Planning for the Apple Capital Loop began 15 years ago when the City of Wenatchee and regional partners started working on a transportation solution to meet the demands of the local Wenatchee Valley, which is the economic, government, medical, and services center of the region. Overall, Apple Capital Loop project will increase the traffic capacity of the Loop by about 60,000 vehicles per day, saving freight and motorists 32 million hours over the next 20 years – that’s 4,000 fewer hours spent in traffic, every day, for the next two decades. The project will also significantly improve wildfire safety for the region by adding two new evacuation routes out of Wenatchee.
In 2021, the project received a $92 million federal grant from the Infrastructure for Rebuilding America (INFRA) program, $80 million of which is being used by this Phase I of the Confluence Parkway project. The reminder will be used to support future phases. The INFRA grant program was imagined, developed, and pushed through Congress by Sen. Cantwell as part of the FAST Act of 2015 and received a 78% funding increase in the 2021 Bipartisan Infrastructure Law, bringing the program’s total funding $8 billion. The INFRA Program provides financial support to nationally and regionally significant freight and highway projects. In 2022, Sen. Cantwell joined then-Department of Transportation Secretary Pete Buttigieg in Wenatchee to celebrate the $92 million INFRA grant award.
The Wenatchee Valley is a key transportation hub for Washington state’s $2.6 billion tree fruit industry. According to the City, $1 billion worth of tree fruit travels through Wenatchee’s transportation network annually in order to reach terminals around the Puget Sound for distribution. This activity has resulted in increased congestion and delayed freight access to nearby cold storage facilities and fruit packing warehouses on North Wenatchee Avenue.
Video of the press conference is available HERE; audio is HERE; and a transcript of Sen. Cantwell’s speech is HERE.

MIL OSI USA News –

April 18, 2025
MIL-OSI China: China, Cambodia agree to build all-weather community with shared future in new era

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

China, Cambodia agree to build all-weather community with shared future in new era

Chinese President Xi Jinping holds talks with Cambodian Prime Minister Hun Manet at the Peace Palace in Phnom Penh, Cambodia, April 17, 2025. [Photo/Xinhua]

PHNOM PENH, April 17 — Chinese President Xi Jinping and Cambodian Prime Minister Hun Manet on Thursday agreed to build an all-weather China-Cambodia community with a shared future in the new era, and designated 2025 the China-Cambodia Year of Tourism.

Xi said the ironclad friendship between China and Cambodia enjoys a profound history, a solid political foundation and a strong internal driving force, adding that no matter how the international situation changes, the two countries have always been at the forefront of building a community with a shared future for mankind.

Xi noted that at present, changes unseen in a century are accelerating, saying that deepening the building of the China-Cambodia community with a shared future is fully in line with the fundamental interests of the two peoples.

China will, as always, support Cambodia in following a development path that suits its national conditions, support the Cambodian government’s successful governance of the country, and back Cambodia in playing a more important role in international and regional affairs, he added.

Xi called on both sides to take the building of an all-weather China-Cambodia community with a shared future in the new era as a new starting point, build on the momentum, continue to implement a new action plan on building the China-Cambodia community with a shared future, strengthen unity and cooperation, and speed up the implementation of the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative.

He also urged the two sides to deepen political mutual trust at a higher level, expand mutually beneficial cooperation of higher quality, consolidate security guarantees of a higher level, carry out people-to-people and cultural exchanges at a higher frequency, and strengthen strategic coordination of higher standards, so as to bring greater benefits to the two peoples.

The Chinese president called for maximizing the role of the China-Cambodia Intergovernmental Coordination Committee, ensuring the strategic dialogues between the foreign and defense ministers of the two countries a success, strengthening exchanges through such channels as political parties and legislative bodies, jointly addressing risks and challenges, and safeguarding the common interests of both sides.

The Chinese side, Xi said, is ready to share opportunities and seek common development with Cambodia.

He called on both sides to vigorously promote high-quality Belt and Road cooperation, and continuously enrich the “Diamond Hexagon” cooperation framework, so as to inject new impetus into their respective modernization efforts.

China, Xi said, encourages more Chinese enterprises to invest in Cambodia, adding that it will open its mega-market to Cambodia and import more high-quality agricultural products from the country.

The people of the two countries should enhance mutual understanding and friendly feelings for each other, and promote exchanges and mutual learning between Chinese and Cambodian civilizations, he added.

China will continue to offer government scholarships to Cambodia, support the establishment of a dialogue and exchange mechanism for youths between the two countries, and encourage more exchanges at the local level, as well as between media outlets and think tanks, so as to bring the people of the two countries closer and closer, he said.

He called on the two countries to take stronger and more effective measures to resolutely crack down on online gambling and telecom fraud, and to maintain social stability and the normal order of exchanges among regional countries.

Xi said China and Cambodia, important forces in the Global South, should stick to the common values of peace, unity and cooperation.

He called on both sides to oppose unilateral bullying, practice true multilateralism, firmly oppose bloc confrontation, strengthen coordination and cooperation within the frameworks of ASEAN and Lancang-Mekong Cooperation, and jointly safeguard hard-won regional peace and development, so as to contribute to promoting the building of a community with a shared future for mankind.

For his part, Hun Manet said Cambodia and China have long respected each other and treated each other as equals, hailing China as Cambodia’s most reliable and trustworthy friend.

He said Xi’s visit is of great significance, which will deepen political mutual trust between the two countries and effectively promote the building of an all-weather Cambodia-China community with a shared future in the new era.

Hailing China’s achievements in economic and social development, Hun Manet said he firmly believes that under Xi’s strong leadership, China will achieve the Second Centenary Goal as scheduled. He thanked China for its strong support for Cambodia’s economic development and for safeguarding its independence.

The prime minister said Cambodia firmly adheres to the one-China policy and supports China in safeguarding its sovereignty and territorial integrity, noting that Cambodia is firmly committed to its friendship with China and is willing to maintain high-level exchanges, strengthen strategic and security cooperation, and deepen the ironclad friendship.

Noting that China is Cambodia’s largest trading partner and the top source of investment, Hun Manet said Cambodia is ready to strengthen cooperation with China in such areas as economy and trade, investment, industrial and supply chains, agriculture and infrastructure, jointly combat online gambling and telecom fraud, strengthen people-to-people exchanges in such fields as education and culture, and ensure the Cambodia-China Year of Tourism a success.

He said Cambodia highly appreciates China’s active role in international and regional affairs, and supports Xi’s vision of building a community with a shared future for mankind, as well as the three major global initiatives and the Belt and Road cooperation proposed by Xi.

Amid global turbulence caused by unilateralism and shocks to the multilateral trading system, China has played a leading role and provided valuable stability to the world, Hun Manet said, adding that Cambodia is willing to strengthen coordination and cooperation with China to safeguard their common interests.

After the meeting, leaders of the two countries witnessed the exchange of more than 30 bilateral cooperation documents covering fields including production and supply chain cooperation, artificial intelligence, development assistance, customs inspection and quarantine, as well as health and news.

Chinese President Xi Jinping holds talks with Cambodian Prime Minister Hun Manet at the Peace Palace in Phnom Penh, Cambodia, April 17, 2025. [Photo/Xinhua]

Chinese President Xi Jinping and Cambodian Prime Minister Hun Manet jointly witness the exchange of bilateral cooperation documents after their talks in Phnom Penh, Cambodia, April 17, 2025. Xi held talks with Cambodian Prime Minister Hun Manet at the Peace Palace in Phnom Penh on Thursday. [Photo/Xinhua]

MIL OSI China News –

April 18, 2025

MIL-OSI: Purpose Investments Inc. Announces April 2025 Distributions

Source: GlobeNewswire (MIL-OSI)

TORONTO, April 17, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) is pleased to announce distributions for the month of April 2025 for its open-end exchange-traded funds and closed-end funds (“the Funds”).

The ex-distribution date for all Open-End Funds is April 28, 2025. The ex-distribution date for all closed-end funds is April 30, 2025.

Open-End Funds	Ticker Symbol	Distribution per share/unit	Record Date	Payable Date	Distribution Frequency
Apple (AAPL) Yield Shares Purpose ETF – ETF Units	APLY	$0.1667	04/28/2025	05/02/2025	Monthly
Purpose Canadian Financial Income Fund – ETF Series	BNC	$0.1225¹	04/28/2025	05/02/2025	Monthly
Purpose Global Bond Fund – ETF Units	BND	$0.0840	04/28/2025	05/02/2025	Monthly
Berkshire Hathaway (BRK) Yield Shares Purpose ETF – ETF Units	BRKY	$0.1000	04/28/2025	05/02/2025	Monthly
Purpose Bitcoin Yield ETF – ETF Units	BTCY	$0.0850	04/28/2025	05/02/2025	Monthly
Purpose Bitcoin Yield ETF – ETF Non-Currency Hedged Units	BTCY.B	$0.0970	04/28/2025	05/02/2025	Monthly
Purpose Bitcoin Yield ETF – ETF USD Units	BTCY.U	US $0.0815	04/28/2025	05/02/2025	Monthly
Purpose Credit Opportunities Fund – ETF Units	CROP	$0.0875	04/28/2025	05/02/2025	Monthly
Purpose Credit Opportunities Fund – ETF USD Units	CROP.U	US $0.0975	04/28/2025	05/02/2025	Monthly
Purpose Ether Yield – ETF Units	ETHY	$0.0405	04/28/2025	05/02/2025	Monthly
Purpose Ether Yield ETF – ETF Non-Currency Hedged Units	ETHY.B	$0.0500	04/28/2025	05/02/2025	Monthly
Purpose Ether Yield ETF – ETF Units Non-Currency Hedged USD Units	ETHY.U	US $0.0395	04/28/2025	05/02/2025	Monthly
Purpose Global Flexible Credit Fund – ETF Units	FLX	$0.0461	04/28/2025	05/02/2025	Monthly
Purpose Global Flexible Credit Fund – Non-Currency Hedged – ETF Units	FLX.B	$0.0551	04/28/2025	05/02/2025	Monthly
Purpose Global Flexible Credit Fund – Non-Currency Hedged USD – ETF Units	FLX.U	US $0.0385	04/28/2025	05/02/2025	Monthly
Purpose Global Bond Class – ETF Units	IGB	$0.0860¹	04/28/2025	05/02/2025	Monthly
Microsoft (MSFT) Yield Shares Purpose ETF – ETF units	MSFY	$0.1100	04/28/2025	05/02/2025	Monthly
Purpose Enhanced Premium Yield Fund – ETF Series	PAYF	$0.1375¹	04/28/2025	05/02/2025	Monthly
Purpose Total Return Bond Fund – ETF Series	PBD	$0.0590¹	04/28/2025	05/02/2025	Monthly
Purpose Core Dividend Fund – ETF Series	PDF	$0.1050¹	04/28/2025	05/02/2025	Monthly
Purpose Enhanced Dividend Fund – ETF Series	PDIV	$0.0950¹	04/28/2025	05/02/2025	Monthly
Purpose Real Estate Income Fund – ETF Series	PHR	$0.0720¹	04/28/2025	05/02/2025	Monthly
Purpose International Dividend Fund – ETF Series	PID	$0.0780	04/28/2025	05/02/2025	Monthly
Purpose Monthly Income Fund – ETF Series	PIN	$0.0830¹	04/28/2025	05/02/2025	Monthly
Purpose Multi-Asset Income Fund – ETF Units	PINC	$0.0840	04/28/2025	05/02/2025	Monthly
Purpose Conservative Income Fund – ETF Series	PRP	$0.0600¹	04/28/2025	05/02/2025	Monthly
Purpose Premium Yield Fund – ETF Series	PYF	$0.1100¹	04/28/2025	05/02/2025	Monthly
Purpose Premium Yield Fund Non-Currency Hedged – ETF Series	PYF.B	$0.1230¹	04/28/2025	05/02/2025	Monthly
Purpose Premium Yield Fund Non-Currency Hedged – ETF USD Series	PYF.U	US $0.1200¹	04/28/2025	05/02/2025	Monthly
Purpose Core Equity Income Fund – ETF Series	RDE	$0.0875¹	04/28/2025	05/02/2025	Monthly
Purpose Emerging Markets Dividend Fund – ETF Units	REM	$0.0950	04/28/2025	05/02/2025	Monthly
Purpose Canadian Preferred Share Fund – ETF Units	RPS	$0.0950	04/28/2025	05/02/2025	Monthly
Purpose US Preferred Share Fund – ETF Series	RPU	$0.0940	04/28/2025	05/02/2025	Monthly
Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units2	RPU.B / RPU.U	$0.0940	04/28/2025	05/02/2025	Monthly
Purpose Strategic Yield Fund – ETF Units	SYLD	$0.0970	04/28/2025	05/02/2025	Monthly
AMD (AMD) Yield Shares Purpose ETF – ETF Series	YAMD	$0.2000	04/28/2025	05/02/2025	Monthly
Amazon (AMZN) Yield Shares Purpose ETF- ETF Units	YAMZ	$0.4000	04/28/2025	05/02/2025	Monthly
Broadcom (AVGO) Yield Shares Purpose ETF – ETF Series	YAVG	$0.1500	04/28/2025	05/02/2025	Monthly
Coinbase (COIN) Yield Shares Purpose ETF – ETF Series	YCON	$0.3000	04/28/2025	05/02/2025	Monthly
Costco (COST) Yield Shares Purpose ETF – ETF Series	YCST	$0.1000	04/28/2025	05/02/2025	Monthly
Alphabet (GOOGL) Yield Shares Purpose ETF – ETF Units	YGOG	$0.2500	04/28/2025	05/02/2025	Monthly
Tech Innovators Yield Shares Purpose ETF – ETF Series	YMAG	$0.2000	04/28/2025	05/02/2025	Monthly
META (META) Yield Shares Purpose ETF – ETF Series	YMET	$0.1600	04/28/2025	05/02/2025	Monthly
Netflix (NFLX) Yield Shares Purpose ETF – ETF Series	YNET	$0.1100	04/28/2025	05/02/2025	Monthly
NVIDIA (NVDA) Yield Shares Purpose ETF – ETF Units	YNVD	$0.7500	04/28/2025	05/02/2025	Monthly
Palantir (PLTR) Yield Shares Purpose ETF – ETF Series	YPLT	$0.2500	04/28/2025	05/02/2025	Monthly
Tesla (TSLA) Yield Shares Purpose ETF – ETF Units	YTSL	$0.5500	04/28/2025	05/02/2025	Monthly
UnitedHealth Group (UHN) Yield Shares Purpose ETF – ETF Series	YUNH	$0.1100	04/28/2025	05/02/2025	Monthly

Closed-End Funds	Ticker Symbol	Distribution per share/unit	Record Date	Payable Date	Distribution Frequency
Big Banc Split Corp, Class A	BNK	$0.1200¹	04/30/2025	05/14/2025	Monthly
Big Banc Split Corp – Preferred Shares	BNK.PR.A	$0.0700¹	04/30/2025	05/14/2025	Monthly

Estimated April 2025 Distributions for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund

The April 2025 distribution rates for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund are estimated to be as follows:

Fund Name	Ticker Symbol	Estimated Distribution per unit	Record Date	Payable Date	Distribution Frequency
Purpose USD Cash Management Fund – ETF Units	MNU.U	US $ 0.3785	04/28/2025	05/02/2025	Monthly
Purpose Cash Management Fund – ETF Units	MNY	$0.2705	04/28/2025	05/02/2025	Monthly
Purpose High Interest Savings Fund – ETF Units	PSA	$0.1146	04/28/2025	05/02/2025	Monthly
Purpose US Cash Fund – ETF Units	PSU.U	US $ 0.3720	04/28/2025	05/02/2025	Monthly

Purpose expects to issue a press release on or about April 25, 2025 , which will provide the final distribution rate for Purpose USD Cash Management Fund, Purpose Cash Management Fund, Purpose High Interest Savings Fund, and Purpose US Cash Fund. The ex-distribution date will be April 28, 2025.

(1) Dividend is designated as an “eligible” Canadian dividend for purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
(2) Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units have both a CAD and USD purchase option. Distribution per unit is declared in CAD, however, the USD purchase option (RPU.U) distribution will be made in the USD equivalent. Conversion into USD will use the end-of-day foreign exchange rate prevailing on the ex-distribution date.

About Purpose Investments Inc.

Purpose Investments is an asset management company with more than $21 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

For further information please contact:
Keera Hart
Keera.Hart@kaiserpartners.com
905-580-1257

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

The MIL Network –

April 18, 2025

MIL-OSI United Kingdom: Homes fit for heroes: Raft of news measures to improve military family housing
Source: United Kingdom – Government Statements

Press release

Homes fit for heroes: Raft of news measures to improve military family housing

Living conditions for families in military housing will be transformed under a new Consumer Charter, as Defence Secretary John Healey promised to “stop the rot” in military housing.
Defence Secretary John Healey visits military housing

New Consumer Charter for families in military homes, delivering on the government’s Plan for Change.

Measures will include higher move-in standards, more reliable repairs, renovation of the worst homes, and a named housing officer for every family – all in place before the one-year anniversary of 36,000 military homes being brought back into public ownership.

Pledge comes alongside the announcement of an independent, expert team appointed to help deliver a rapid Defence Housing Strategy – with work already underway.

The Charter will be part of a new Defence Housing Strategy, to be published later this year, which will set out further plans to improve the standard of service family homes across the country.

Under the Charter, basic consumer rights, from essential property information and predictable property standards, to access to a robust complaints system, will be rapidly introduced. These will be underpinned by new, published satisfaction figures, putting forces families front and centre.

The wider Defence Housing Strategy – overseen by the Defence Secretary and the Minister for Veterans and People, Al Carns – will also turbocharge the development of surplus military land, creating opportunities for Armed Forces homeownership. It will further support the delivery of affordable homes for families across Britain as part of the government’s Plan for Change.

It follows the Government’s landmark deal, completed in January, to bring back 36,000 military homes into public ownership, reversing a 1996 sale described by the Public Accounts Committee as “disastrous”, and saving the taxpayer £600,000 per day by eliminating rental payments to a private company.

The announcement follows the Prime Minister Sir Keir Starmer’s pledge to deliver “homes for heroes” and means that under this government, support will be there for veterans at risk of homelessness. This included removing local connection tests for veterans seeking social housing, meaning as of November, veterans will have access to the housing support they need.

Defence Secretary, John Healey MP, said:

Our Armed Forces serve with extraordinary dedication and courage to keep us safe. It is only right that they and their families live in the homes they deserve.

For too long, military families have endured substandard housing without the basic consumer rights that any of us should expect in our homes. That must end and our new Consumer Charter will begin to stop the rot and put families at the heart of that transformation.

We cannot turn around years of failure on forces housing overnight, but by bringing 36,000 military homes back into public ownership, we’ve already taken greater control and are working at pace to drive up standards. This is about providing homes fit for the heroes who serve our nation, and I’m determined to deliver the decent, affordable housing that our forces families have every right to expect.

The new Consumer Charter will include the following commitments:

A strengthened move-in standard so families can have confidence that the home they are moving into will be ready on time and will be clean and functional.

Improved, clearer information for families ahead of a move, including photographs and floor plans of all homes when a family applies for housing.

More reliable repairs, including an undertaking to complete urgent repairs within a set timeline consistent with Awaab’s Law, and a new online portal for service personnel to manage repairs.

Raising the minimum standard of forces family housing with a new programme of works targeted at the worst homes, with up to 1,000 refurbished as a downpayment on the broader programme of renewal to be set out in the Defence Housing Strategy.

Better and clearer communication for families, including a named housing officer for every service family who they can contact for specific housing related queries.

A new, simpler complaints process that will shorten the process to two stages in line with industry best practice, so that service personnel and families have a quicker resolution, backed up by the new Armed Forces Commissioner.

Modernising policies to allow more freedom for families to make improvements, giving them a greater sense of pride in their homes.

These improvements will be in place by the one-year anniversary of the announcement to buy back military homes last December, with final detail to be set out in the Defence Housing Strategy following consultation with military personnel and their families.

Many of the commitments in the Charter will be achieved by driving better performance – and better value for the taxpayer – from existing suppliers of maintenance and support for service family housing.

The new standards will be underpinned by new published customer satisfaction measures and enhanced accountability so families can have confidence in the improvements being made. This will sit alongside an independently conducted stock survey, as recommended by the Kerslake review of military housing which was published last year.

The Defence Housing Strategy will be driven by an independent review team whose members have been announced today, and which will be chaired by former Member of Parliament and housing expert Natalie Elphicke Ross OBE, drawing on expertise from industry and forces families.

In the meantime, the Defence Secretary and the Minister for Veterans and People have instructed the MOD to immediately plan improvements for the new Consumer Charter, as part of a short-term action plan to enhance the family homes after years of neglect.

Natalie Elphicke Ross, Chair of the Defence Housing Strategy Review said:

Our pride in our armed forces must include pride in our military homes. Delivering better housing, boosting home ownership opportunities for service personnel and improving the experiences of service families will be at the heart of our work.

David Brewer, Chief Operating Officer of the Defence Infrastructure Organisation, said:

We are dedicated to making changes that will bring real improvements to the lives of families living in military homes and the plans set out in the new charter are an important step towards doing this.

The advisory team, announced today, brings together an exceptional group of individuals, who through their expertise and experience will help ensure our housing strategy maximises benefits, not just to families living in military homes, but to communities and industry more widely.

Antony Cotton MBE said:

Our Armed Forces community are the backbone of our society, so improving the standard of service family housing is essential if we are to continue to retain and recruit the soldiers, sailors and aviators that protect us selflessly, every day. I welcome this consumer charter as a starting point to give our military families an improved service, and homes they deserve.

Background

The members appointed to the Defence Housing Strategy review team are:

Chair, Natalie Elphicke Ross OBE, Director and Head of Housing at The Housing & Finance Institute. Previously Natalie chaired the New Homes Quality Board on standards and redress for customers of new build homes, co-chaired the Elphicke-House Report 2015 on the role of local authorities in housing supply and served as an expert adviser on the development of the national strategy for estate regeneration. A former law firm partner specialising in housing finance, Natalie’s experience includes advising central and local governments, lenders, developers and housing associations on financing, structuring and delivering homes across all tenures.

Bill Yardley, Chair of McCarthy Stone Shared Ownership Limited. Bill serves as Chair of a regulated residential development company and is a Non- Executive Director at the Defence Infrastructure Organisation, in the Houses of Parliament and at the Surrey Property Group Limited. He has previously worked at board level in the public and private sectors in residential development, regulated housing, property investment, education and the NHS and has been a public member of Network Rail and chaired a charity. Bill has also served as a Crown Representative and on the Government Construction Board.

Cat Calder, Housing Specialist, Army Families Federation. Cat is a housing professional with over 13 years of experience advocating for improved living conditions for families in military accommodation. She has held key positions within the Army Families Federation and has direct experience of military housing, having previously lived in service family accommodation for a number of years.

Nigel Holland, former Divisional Chair, Taylor Wimpey and Non-Executive Director of The Riverside Group. Formerly a Divisional Chair of Taylor Wimpey, one of the UK’s largest residential developers. Nigel is also a Non-Executive Director of The Riverside Group, a major provider of affordable housing, care and support services in England and Scotland, with more than 75,000 homes in management. He has a wealth of experience in the homebuilding industry, leading large-scale developments in the UK and overseas.

Alex Notay, Chair and Commissioner, Radix Big Tent Housing Commission. Alexandra is an internationally recognised expert on housing, placemaking and ESG. She has 20 years’ strategic advisory and investment experience across four continents and in August 2024 took over as Chair of the Radix Big Tent Housing Commission. Until July 2024 she was Placemaking and Investment Director at Thriving Investments, the fund and asset management arm of Places for People Group, overseeing a UK-wide residential strategy.

James Hall, Housing and Land, Greater London Authority. James has over a decade’s experience in housing and development, working with the public, private and not-for-profit sectors. He worked extensively on strategy, policy and communications in Westminster and Whitehall, and most recently worked at the Greater London Authority on housing policy and delivery.

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Published 18 April 2025
MIL OSI United Kingdom –
April 18, 2025
MIL-OSI: Bigstack Opportunities I Inc. Announces Receipt of TSXV Conditional Approval and Filing of Filing Statement

Source: GlobeNewswire (MIL-OSI)

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

TORONTO, April 17, 2025 (GLOBE NEWSWIRE) — Bigstack Opportunities I Inc. (“Bigstack”) (TSXV: STAK.P), a capital pool company as defined under the policies of the TSX Venture Exchange (the “TSXV” or the “Exchange”), is pleased to announce that the TSXV has conditionally approved the previously announced business combination with Reeflex Coil Solutions Inc. (“Reeflex”), as described in Bigstack’s press releases dated November 4, 2024, January 17, 2025 and April 16, 2025 (the “Transaction”), which will constitute Bigstack’s Qualifying Transaction (as such term is defined in Policy 2.4 – Capital Pool Companies of the Corporate Finance Manual of the Exchange).

In connection with the Transaction, Bigstack has filed its filing statement dated April 14, 2025 (the “Filing Statement”) on its SEDAR+ profile. Investors are encouraged to review the Filing Statement on Bigstack’s SEDAR+ profile at www.sedarplus.ca, as well as Bigstack’s press releases dated November 4, 2024, January 17, 2025 and April 16, 2025. The Filing Statement provides detailed information about, among other things, the Transaction, Reeflex, Coil Solutions Inc. (“Coil”), Reeflex’s expected acquisition of Coil pursuant to a share purchase agreement dated April 14, 2025 (the “Share Purchase Agreement”) between Reeflex and all of the shareholders of Coil (the “Coil Acquisition”), and the resulting company following completion of the Transaction (the “Resulting Issuer”).

Assuming all conditions are satisfied, Bigstack and Reeflex anticipate closing of the Transaction to occur on or around May 1, 2025, or such other date as may be agreed to between the parties, and that trading of the Resulting Issuer’s common shares will commence shortly thereafter. Bigstack will issue a further press release once the Exchange issues its bulletin announcing its final approval of the Transaction and the date that trading of the common shares of the Resulting Issuer is expected to commence on the Exchange. The Resulting Issuer’s trading symbol will be “RFX”.

In connection with the Transaction, Bigstack is expected to change its name to “Reeflex Solutions Inc.”

Completion of the Transaction is subject to a number of conditions, including but not limited to, the satisfaction of all conditions provided for in the agreements governing the Transaction, which include representations, warranties, covenants and conditions customary for a transaction of this nature, the receipt of all necessary regulatory, corporate and third party approvals, including final TSXV acceptance, the release of the escrowed proceeds to Reeflex pursuant to the concurrent financing of the Reeflex, as described in Bigstack’s press release dated April 16, 2025, the closing of the Coil Acquisition, and the receipt of approval for the listing of the common shares of the Resulting Issuer by the Exchange, all subject to the completion of the Transaction. There can, however, be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. Shares of Bigstack are currently halted from trading on the Exchange, and trading is not expected to resume until after closing of the Transaction. The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Business and History of Reeflex

Reeflex is a privately-held corporation incorporated under the Business Corporations Act (Alberta) on June 14, 2024. Its head and registered offices are located in Calgary. Reeflex currently has no business operations or assets other than cash and a management team that has been working on the Transaction and the proposed going public structure for the past year. On April 14, 2025, Reeflex entered into the Share Purchase Agreement.

Business and History of Coil

Founded in 2007 in Redcliff, Alberta, Coil specializes in innovative drilling products and services for the global oil and gas industry. In 2010, Coil expanded its operations, opening a second facility in Calgary, Alberta, introducing a line of downhole fracking tools and venturing into custom tool design. In 2012, Coil launched its coil tubing injector line. In 2013, Coil opened a third facility in Red Deer, Alberta. In 2014, Coil developed two distinct models of, and manufactured, its first full coil tubing units. In 2016, Coil expanded sales to Asia, Africa, Australia, North America, South America and Europe. In 2017, Coil designed and built the largest free-standing mast unit in the world. In 2022, Coil established a dedicated manufacturing division in Calgary, Alberta, operating under its tradename, Ranglar, for injectors and mobile equipment. In 2024, Coil completed a reorganization with its shareholders, which resulted in the conversion of preferred shares and debt into common shares. Today, Coil continues to focus on coiled tubing solutions and downhole tools, offering a comprehensive range of services including rentals, sales, training, testing and consulting. With 41 employees, Coil has developed patented products that are distributed worldwide, including a key distributor in Germany and more than 60 active clients. On April 14, 2025, Coil entered into the Share Purchase Agreement.

Overview of Bigstack

Bigstack is a “capital pool company” under the policies of the Exchange and it is intended that the Transaction will constitute the “Qualifying Transaction” of Bigstack, as such term is defined in CPC Policy. The Bigstack Shares are currently listed on the Exchange and Bigstack is a reporting issuer in the provinces of Alberta, British Columbia and Ontario. Bigstack was incorporated under the Business Corporations Act (Ontario) on November 25, 2020.

Additional Information

All information contained in this press release with respect to Reeflex and Coil was provided by Reeflex and Coil, respectively, to Bigstack for inclusion herein. Bigstack and its directors and officers have not independently verified such information and have relied exclusively on Reeflex and Coil for any information concerning Reeflex and Coil.

Forward Looking Information

This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this press release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “anticipate”, “believe”, “estimate”, “expect”, “intend” or variations of such words and phrases or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

More particularly and without limitation, this press release contains forward-looking statements concerning the Transaction and its constituents steps, including the Coil Acquisition and the Transaction (including the completion, structure, terms and timing thereof), the expected corporate structure of the Resulting Issuer and its subsidiaries, if any, the future financial performance of the Resulting Issuer or any of the parties, the concurrent financing of Reeflex and the potential release of escrowed proceeds therefrom, and the trading of Bigstack’s securities and any securities of the Resulting Issuer on the TSXV. Although Bigstack believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: delay or failure to receive regulatory approvals; inability to complete the Concurrent Financing on the terms described herein or at all; and general business, economic, competitive, political and social uncertainties. There can be no certainty that the Transaction and related transactions will be completed on the terms set out in the agreements among the parties and described in press releases of Bigstack or at all. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, Bigstack disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

Bigstack Opportunities I Inc.

For further information, please contact Eric Szustak, the President, Chief Executive Officer, Chief Financial Officer, Corporate Secretary and a director of Bigstack.

Eric Szustak
President, CEO, CFO, Corporate Secretary and Director
Email: eszustak@jbrlimited.com
Telephone: (905) 330-7948

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

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The MIL Network –

April 18, 2025
MIL-OSI Security: Iranian National Indicted for Operating Online Marketplace Offering Fentanyl, Other Drugs, and Money Laundering Services

Source: Office of United States Attorneys

CLEVELAND – A federal grand jury has charged Behrouz Parsarad, an Iranian national, for his role as the creator and operator of Nemesis Market, a dark web marketplace designed to enable users to buy and sell illegal drugs and other illicit goods and criminal cyber-services, such as obtaining stolen financial information, fraudulent identification documents, counterfeit currencies, and computer malware.

According to the indictment, Parsarad, 36, of Tehran, Iran, launched Nemesis Market in or around March 2021. Nemesis Market operated on the dark web, a network that uses The Onion Router (TOR) to encrypt traffic and hide users’ Internet Protocol (IP) address. At its peak, Nemesis Market had over 150,000 users and more than 1,100 vendor accounts registered worldwide. Between 2021 and 2024, Nemesis Market processed more than 400,000 orders, including more than 60,000 orders in 2022 and more than 250,000 orders in 2023. Of these, more than 55,000 orders were categorized as stimulants, which included sub-categories for methamphetamine, cocaine, cocaine base (crack), and other controlled substances. More than 17,000 orders were categorized as opioids, which included sub-categories for fentanyl, heroin, and oxycodone. All of the substances covertly purchased by the government and marketed on Nemesis as “isotonitazene,” “M30s” (purporting to be oxycodone), and “Percs” (purporting to be Percocet) were confirmed by laboratory reports to be mixtures and substances containing fentanyl, a Schedule II controlled substance and/or acetylfentanyl, heroin, and/or protonitazene, each a Schedule I controlled substance.

“The allegations in this indictment span over four hundred thousand transactions involving fentanyl, other dangerous drugs, and a wide range of contraband made accessible on the darknet for more than three years,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “Through cooperation with German and Lithuanian partners, the alleged administrator of this marketplace has been charged, servers and other infrastructure have been seized, and dangerous drugs and other contraband have been stopped from entering the United States. This case demonstrates the Department’s tireless commitment to protecting U.S. communities from the harms caused by fentanyl and darknet marketplaces and pursuing accountability for those who would endanger our communities no matter where they are located.”

“Anyone who tries to profit from the sale of illegal drugs – whether it’s on the streets or online – will face consequences. Whether you sell or help others sell these dangerous drugs, you will be held accountable,” said Acting U.S. Attorney Carol M. Skutnik for the Northern District of Ohio. “I want to acknowledge the excellent investigative work of our federal agency partners here in Ohio who helped us to bring the charges in this case. Together, we remain committed to keeping our neighborhoods safe and our streets free from illegal narcotics.”

“This indictment, made possible by the assistance of our German and Lithuanian allies, underscores the importance of global partnerships and international collaboration,” said FBI Cleveland Acting Special Agent in Charge Charles Johnston. “Nemesis Market, through the darknet, was a borderless powerhouse of criminal activity that not only fueled the drug epidemic, but also a multitude of illegal acts with the capacity to harm our citizens and destroy our communities. The FBI stands firm in its commitment to identify and investigate unlawful individuals and dismantle their networks operating with criminal intent.”

Parsarad is charged with conspiracy to distribute controlled substances and distribution of controlled substances in the Northern District of Ohio and elsewhere. In addition, Parsarad is also charged with money laundering conspiracy for both using proceeds to promote illegal drug dealing and for offering money laundering services through Nemesis Market by mixing cryptocurrencies used to pay for goods and services to obscure their origins. Nemesis users were not allowed to conduct transactions in official, government-backed currencies.

On March 20, 2024, U.S. law enforcement, in cooperation with German and Lithuanian authorities, seized Nemesis Market and stemmed the flow of these drugs into the United States and elsewhere. In March 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against Parsarad for his role as the administrator of Nemesis Market. According to OFAC, Nemesis Market facilitated the sale of nearly $30 million worth of drugs between 2021 and 2024.

If convicted, Parsarad faces a mandatory minimum of 10 years in federal prison and a maximum penalty of life.

The FBI Cleveland Division is investigating the case with assistance from the DEA and IRS-CI. The Justice Department’s Office of International Affairs and Cybercrime Liaison Prosecutor to Eurojust provided significant assistance.

Assistant U.S. Attorney Segev Phillips for the Northern District of Ohio and Trial Attorney Gaelin Bernstein of the Criminal Division’s Computer Crime and Intellectual Property Section are prosecuting the case, with substantial assistance from the U.S. Attorneys Offices for the Northern District of Illinois and District of Massachusetts.

This case was investigated as part of an FBI-led interagency Joint Criminal Opioid and Darknet Enforcement (J-CODE) operation. J-CODE brings together experts from the DEA, the Postal Inspection Service, Homeland Security Investigations, as well as the Department of Defense and the Customs and Border Protection, along with the FBI. The Justice Department appreciates the cooperation and significant assistance provided by law enforcement partners in the British Virgin Islands, Germany, Lithuania, and Türkiye.

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

MIL Security OSI –

April 18, 2025
MIL-OSI: Purpose Investments Clarifies that It Has Debuted One of the World’s First Solana ETFs with Staking Rewards Accruing Directly to the Fund – Continuing Its Leadership in Global Crypto Innovation
Source: GlobeNewswire (MIL-OSI)

TORONTO, April 17, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”), the firm behind the world’s first spot Bitcoin ETF and spot Ether ETF, is expanding its digital asset suite with the launch of the Purpose Solana ETF (ticker: SOLL). SOLL is one of the first ETFs worldwide to provide direct physical exposure to Solana while delivering staking rewards accruing directly to the fund. With native staking powered by Purpose’s proprietary in-house staking infrastructure, SOLL is designed to deliver the highest staking rewards currently available through spot Solana ETFs in Canada.

Now trading on the TSX, the Purpose Solana ETF reinforces Purpose’s position as a global leader in digital asset ETF innovation and Canada’s largest digital asset ETF manager. Backed by deep expertise and a proven track record, Purpose continues to make digital assets safer and easier for investors to access.

Canada’s Crypto Leader Setting the Standard for Global Innovation

“Solana is pushing the boundaries of blockchain innovation from speed and scalability to real-world decentralized applications,” said Vlad Tasevski, Chief Innovation Officer. “With the Purpose Solana ETF, we’re giving investors efficient, regulated access to this rapidly growing digital ecosystem, with the added benefit of native staking. As the only fund manager operating key aspects of the fund in-house through our technology infrastructure, we’re able to deliver a secure and seamless investment experience, along with more efficient returns and higher yields. This launch builds on the broadest suite of crypto ETFs in the country – and our mission to lead digital asset investing both here in Canada and globally with thoughtful, purpose-built solutions that meet investors where they are and help them move forward with confidence.”

Purpose Solana ETF Key Benefits
- Direct Exposure to Solana: Gain direct exposure to SOL, the native asset of a high-performance platform known for its speed, scalability, and growing developer ecosystem.
- Native Staking Yield: Capture Solana’s staking yield through a regulated ETF structure – without the complexity of setting up wallets or managing on-chain assets.
- Crypto-Native Advantage: Purpose’s in-house validator infrastructure and deep involvement in the Solana ecosystem will help to reduce cost and improve investor staking yield – offering one of the most efficient Solana staking programs on the market.
- Secure, Portfolio-Ready Structure: Held in cold storage with institutional-grade custodians, the ETF trades on the TSX and can be held in registered accounts like RRSPs and TFSAs – no wallets, keys, or crypto exchanges required.
- Uniquely Available With Three Currency Exposures: The ETF is available in CAD hedged units (ticker: SOLL), CAD non-hedged units (ticker: SOLL.B), and USD non-hedged units (ticker: SOLL.U).
“The Purpose Solana ETF provides direct access to Solana’s high-throughput network, with staking integrated through our proprietary validator infrastructure,” said Paul Pincente, VP of Digital Assets. “By internalizing key operational components – including staking and reward management – we reduce counterparty risk, improve net yield capture, and create a more efficient, institutional-grade investment structure. This level of control helps us support a more consistent and streamlined investment experience as the digital asset space continues to evolve.”

Leading Crypto-Native Capability and Unmatched In-House Staking Expertise

At the core of its platform is true crypto-native capability, supported by Purpose Unlimited’s in-house staking infrastructure. Having deep control over the technology will enable greater operational efficiency and the ability to deliver higher yields to investors. This integrated approach is designed to enhance performance and security and positions Purpose as a leader in bringing institutional-grade crypto ETF solutions.

The Broadest Suite of Crypto ETFs in Canada

Purpose offers the most comprehensive suite of digital asset ETFs in Canada, designed to meet the needs of every investor profile, from active traders to long-term allocators and income-focused investors.

Purpose Digital Assets lineup includes:
- Purpose Bitcoin ETF (BTCC) and Purpose Ether ETF (ETHH): The world’s first spot Bitcoin and Ether ETFs, offering regulated access, high liquidity, and a strong track record – backed by advanced features for active traders and tactical allocators.
- Purpose Bitcoin Yield ETF (BTCY) and Purpose Ether Yield ETF (ETHY): Yield-generating ETFs that use covered call strategies to help investors earn income from their Bitcoin and Ether holdings.
- Purpose Ether Staking Corp. ETF (ETHC.B): A staking-focused Ether ETF, giving investors access to Ethereum’s proof-of-stake rewards in a regulated structure.
- Purpose Solana ETF (SOLL): Unlocking direct exposure to a high-speed, low-fee blockchain known for its lightning-fast transactions, developer momentum, and real-world potential with staking rewards accruing directly to the fund.
With the launch of the Purpose Solana ETF, Purpose Investments continues to expand its industry-leading digital asset lineup, providing investors with secure and simple access to blockchain innovation. This new ETF complements Purpose’s existing crypto suite, which includes the world’s first spot Bitcoin ETF and first Ether ETF, offering investors a comprehensive range of digital asset solutions. As blockchain technology transforms financial markets, Purpose remains committed to bridging traditional finance with the future of decentralized and emerging financial technology, helping investors navigate the evolving digital economy with confidence.

To explore the full suite of crypto ETFs, visit the Purpose Digital Assets Suite.

About Purpose Investments

Purpose Investments Inc. is an asset management company with over $22 billion in assets under management, focused on client-centric innovation across ETFs and investment funds. Purpose Investments is a division of Purpose Unlimited, an independent financial technology company led by entrepreneur Som Seif.

For further information, please email us at info@purposeinvest.com.

Media inquiries:
Keera Hart
keera.hart@kaiserpartners.com
905-580-1257

The content of this document is for informational purposes only and is not being provided in the context of an offering of any securities described herein, nor is it a recommendation or solicitation to buy, hold or sell any security. Information contained in this document is not, and under no circumstances is it to be construed as, an offering memorandum, prospectus, advertisement or public offering of securities. No securities commission or similar regulatory authority has reviewed this information, and any representation to the contrary is an offence. The information contained in this document is believed to be accurate and reliable; however, we cannot guarantee that it is complete or current at all times. The information provided is subject to change without notice.

Commissions, trailing commissions, management fees and expenses may all be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Crypto assets can be extremely volatile, and there can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated. Fund distribution levels and frequencies are not guaranteed and may vary at Purpose Investments’ sole discretion.

Certain statements in this document may be forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend on or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are, by their nature, based on numerous assumptions. Although the FLS contained in this document are based upon what Purpose Investments believes to be reasonable assumptions, Purpose Investments cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed, that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.

The MIL Network –
April 18, 2025
MIL-OSI Russia: Jordan — IMF Staff Reach Staff Level Agreement on the Third Review under the Extended Fund Facility and Make Progress Toward a Program Supported under the Resilience and Sustainability Facility
Source: IMF – News in Russian

April 17, 2025

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.
- Jordan’s economic program supported by an Extended Fund Facility (EFF) arrangement is firmly on track despite considerable external headwinds. The authorities continue to demonstrate strong commitment to sound macro-economic policies and structural reforms to strengthen Jordan’s resilience, confront uncertainty, and accelerate growth.
- After a slowdown in 2024, affected by the spillovers from the conflicts in the region, domestic demand and tourism show signs of recovery. This combined with steadfast implementation of structural reforms to create a more dynamic private sector is expected to bring growth to 2.7 percent in 2025. Inflation is expected to remain around 2 percent, as the CBJ continues to successfully safeguard monetary stability and the peg to the US dollar.
- Substantial progress was made toward agreement on an arrangement under the Resilience and Sustainability Facility to address Jordan’s long-term vulnerabilities in the water and electricity sectors and to enhance its ability to address health emergencies, including future pandemics. Discussions are expected to be continued with the aim to reach agreement soon.
Amman: A staff team from the International Monetary Fund (IMF), led by Ron van Rooden, visited Amman during April 6–17, 2025, for discussions on the third review under the arrangement under the IMF’s Extended Fund Facility (EFF), which was approved by the IMF’s Executive Board on January 10, 2024 (Press Release). Discussions were also held on an arrangement under the Resilience and Sustainability Facility (RSF). At the conclusion of the mission, Mr. van Rooden issued the following statement:

“We are pleased to announce that the IMF team and the Jordanian authorities reached a staff-level agreement on the third review of the authorities’ economic reform program supported by the EFF arrangement, approved in January 2024. Program performance continues to be strong, despite a challenging external environment. All quantitative performance criteria for the third review were met and steady progress is being made toward achieving the program’s overall objectives, including strong progress toward meeting the structural benchmarks for this and future reviews. The agreement is subject to approval by the IMF’s management and the Executive Board. The completion of this review will make SDR 97.784 million (about US$130 million) available, out of the approved program size of SDR 926.370 million (about US$1.2 billion).

“Jordan’s economy continues to show resilience and macro-economic stability has been maintained, despite considerable external headwinds from the conflicts in Gaza and Lebanon and heightened uncertainty, thanks to authorities’ steady pursuit of sound macro-economic policies and international support. Growth slowed somewhat, but still reached 2.5 percent and inflation remained low, at less than 2 percent in 2024. The budget deficit target was met, as strong measures offset the loss in revenues due to lower domestic demand and lower prices of key export commodities. The current account deficit widened somewhat to 5.9 percent of GDP, in part reflecting lower tourism receipts.

“Despite increased global uncertainty, including as a result of higher trade tensions and continued conflicts in the region, growth in Jordan has started to pick up pace and is projected to reach 2.7 percent in 2025, as domestic activity and tourism are recovering and investment inflows have increased. The current account deficit is expected to be contained at 5.5 percent of GDP, with higher tourism receipts offsetting higher imports and possible adverse effects on exports from higher trade barriers. Inflation is expected to remain low, at just over 2 percent, reflecting the CBJ’s unwavering commitment to maintaining monetary stability. The CBJ remains firmly committed to the exchange rate peg to the U.S. dollar, which is supported by strong international reserves. Meanwhile, the banking sector continues to demonstrate resilience, with strong capitalization and sound financial health. Barring additional shocks, growth is expected to pick up pace further in the coming years, to over 3 percent, fueled by several large investment projects, including the Aqaba Amman Conveyor project, while deeper regional economic integration, notably with Syria, Lebanon, and Iraq, could further enhance growth prospects.

“The authorities remain committed to their fiscal policy anchor of placing public debt on a steady downward path, while protecting priority social and development spending. To achieve this, and to cement the progress made in the last few years, the authorities are committed to continuing efforts at mobilizing revenues, improving spending efficiency, and ensuring the financial viability and efficiency of public utilities and the social security corporation (SSC). Steady fiscal consolidation will continue in 2025–28, aiming to bring public debt to 80 percent of GDP by 2028.

“The authorities are determined to step up the pace of structural reforms to achieve stronger growth and generate more jobs, which is particularly important given that unemployment remains high, particularly among the youth and women. Reforms will focus on improving the business environment, to attract more investment, by enhancing competition and labor market flexibility, while further strengthening the social safety net. Efforts will also focus on streamlining regulation and digitalization of government services, including tax and customs administration.

“Substantial progress was made in discussing policies to address Jordan’s long-term vulnerabilities in the water and electricity sectors and to enhance its ability to address health emergencies, including future pandemics, and which could be supported by an arrangement under the Resilience and Sustainability Facility. Discussions are expected to be continued in the coming days aiming to be concluded in Washington DC.

“The staff team is grateful to the authorities for the candid and constructive discussions. The team met with Prime Minister Hassan, Minister of Finance Shibli, Minister of Planning and International Cooperation Toukan, Minister of Economic Affairs Shehadeh, Governor of the Central Bank of Jordan Al-Sharkas; and other Ministers and senior government and CBJ officials.”

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Angham Al Shami

Phone: +1 202 623-7100Email: MEDIA@IMF.org

@IMFSpokesperson

https://www.imf.org/en/News/Articles/2025/04/17/pr25113-jordan-imf-staff-reach-sla-3rd-rev-under-eff-make-prog-toward-program-supp-under-rsf

MIL OSI
MIL OSI Russia News –
April 18, 2025
MIL-OSI USA: Iranian National Indicted for Operating Online Marketplace Offering Fentanyl and Money Laundering Services

Source: US State of California

A federal grand jury has charged Behrouz Parsarad, an Iranian national, for his role as the founder and operator of Nemesis Market, a dark web marketplace for illegal drugs and criminal cyber-services, such as stolen financial information, fraudulent identification documents, counterfeit currencies, and computer malware.

According to the indictment, Parsarad, 36, of Tehran, launched Nemesis Market on the dark web in March 2021. At its peak, Nemesis Market had over 150,000 users and more than 1,100 vendor accounts registered worldwide. Between 2021 and 2024, Nemesis Market processed more than 400,000 orders. Of these, more than 55,000 orders were categorized as orders for stimulants, including methamphetamine, cocaine, cocaine base (crack cocaine), and other controlled substances. An additional 17,000 orders were categorized as orders for opioids, including fentanyl, heroin, and oxycodone. Certain substances covertly purchased by the government from Nemesis were confirmed by laboratory reports to be mixtures and substances containing fentanyl, a Schedule II controlled substance, and/or acetylfentanyl, heroin, and/or protonitazene, each a Schedule I controlled substance.

“The allegations in this indictment span over four hundred thousand transactions involving fentanyl, other dangerous drugs, and a wide range of contraband made accessible on the darknet for more than three years,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “Through cooperation with German and Lithuanian partners, the alleged administrator of this marketplace has been charged, servers and other infrastructure have been seized, and dangerous drugs and other contraband have been stopped from entering the United States. This case demonstrates the Department’s tireless commitment to protecting U.S. communities from the harms caused by fentanyl and darknet marketplaces and pursuing accountability for those who would endanger our communities no matter where they are located.”

“Anyone who tries to profit from the sale of illegal drugs – whether it’s on the streets or online – will face consequences. Whether you sell or help others sell these dangerous drugs, you will be held accountable,” said Acting U.S. Attorney Carol M. Skutnik for the Northern District of Ohio. “I want to acknowledge the excellent investigative work of our federal agency partners here in Ohio who helped us to bring the charges in this case. Together, we remain committed to keeping our neighborhoods safe and our streets free from illegal narcotics.”

“This indictment, made possible by the assistance of our German and Lithuanian allies, underscores the importance of global partnerships and international collaboration,” said FBI Cleveland Acting Special Agent in Charge Charles Johnston. “Nemesis Market, through the darknet, was a borderless powerhouse of criminal activity that not only fueled the drug epidemic, but also a multitude of illegal acts with the capacity to harm our citizens and destroy our communities. The FBI stands firm in its commitment to identify and investigate unlawful individuals and dismantle their networks operating with criminal intent.”

Parsarad is charged with conspiracy to distribute controlled substances and distribution of controlled substances in the Northern District of Ohio and elsewhere. In addition, Parsarad is also charged with money laundering conspiracy for both using proceeds to promote illegal drug dealing and for offering money laundering services through Nemesis Market by mixing cryptocurrencies used to pay for goods and services to obscure their origins. Nemesis users were not allowed to conduct transactions in official, government-backed currencies.

On March 20, 2024, U.S. law enforcement, in cooperation with German and Lithuanian authorities, seized Nemesis Market and blocked the flow of these drugs into the United States and elsewhere. In March 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against Parsarad for his role as the administrator of Nemesis Market. According to OFAC, Nemesis Market facilitated the sale of nearly $30 million worth of drugs between 2021 and 2024.

If convicted, Parsarad faces a mandatory minimum penalty of 10 years in federal prison and a maximum penalty of life.

The FBI Cleveland Division is investigating the case with assistance from the DEA and IRS-CI. The Justice Department’s Office of International Affairs and Cybercrime Liaison Prosecutor to Eurojust provided significant assistance.

Trial Attorney Gaelin Bernstein of the Criminal Division’s Computer Crime and Intellectual Property Section and Assistant U.S. Attorney Segev Phillips for the Northern District of Ohio are prosecuting the case, with substantial assistance from the U.S. Attorneys Offices for the Northern District of Illinois and District of Massachusetts.

This case was investigated as part of an FBI-led interagency Joint Criminal Opioid and Darknet Enforcement (J-CODE) operation. J-CODE brings together experts from the DEA, the Postal Inspection Service, Homeland Security Investigations, as well as the Department of Defense and the Customs and Border Protection, along with the FBI. The Justice Department appreciates the cooperation and significant assistance provided by law enforcement partners in the British Virgin Islands, Germany, Lithuania, and Türkiye.

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

MIL OSI USA News –

April 18, 2025
MIL-OSI USA: Unleashing American Commercial Fishing in the Pacific

US Senate News:

Source: The White House
class=”has-text-align-center”>BY THE PRESIDENT OF THE UNITED STATES OF AMERICA
A PROCLAMATION
The Pacific Remote Islands Marine National Monument (PRIMNM) was established by Proclamation 8336 of January 6, 2009 (Establishment of the Pacific Remote Islands Marine National Monument), and then further expanded by Proclamation 9173 of September 25, 2014 (Pacific Remote Islands Marine National Monument Expansion). Under these monument proclamations, over 400,000 square miles in the Pacific Ocean were appropriated and withdrawn from all forms of entry, location, selection, sale, leasing, or other disposition under the public land laws for care and management by the Federal Government.The PRIMNM was established to protect and preserve the lands and marine environment around Wake, Baker, Howland, and Jarvis Islands; Johnston and Palmyra Atolls; Kingman Reef; and the historic and scientific objects therein. These objects include fish, birds, marine mammals, coral, and the general biodiversity of the ecosystems encompassed by the PRIMNM.As part of the management of the PRIMNM, commercial fishing is currently prohibited within its boundaries. As explained herein, following further consideration of the nature of the objects identified in Proclamations 8336 and 9173 and the protection of those objects already provided by relevant law, I find that appropriately managed commercial fishing would not put the objects of scientific and historic interest that the PRIMNM protects at risk.With respect to fish in particular, fisheries in the region are effectively managed by the National Marine Fisheries Service and the Western Pacific Regional Fishery Management Council. Management of the PRIMNM is doing little to guard fish populations against overfishing as tunas and other pelagic species found within the boundaries of the PRIMNM are migratory in nature, and do not permanently reside within the PRIMNM.As a result of the prohibitions on commercial fishing, American fishing fleets have lost access to nearly half of the United States’ Exclusive Economic Zone in the Pacific Islands. This has driven American fishermen to fish further offshore in international waters to compete against poorly regulated and highly subsidized foreign fleets. This disadvantages honest United States commercial fishermen and is detrimental for United States territories like American Samoa, whose private sector economy is over 80 percent dependent on the fishing industry.Proclamations 8336 and 9173 do not list recreational fishing as a threat to local fish populations within the PRIMNM. A host of Federal protections exist under current laws and agency management designations to protect the area’s natural resources, vulnerable marine species, and unique habitats, such as coral and seamount ecosystems.These laws include the Magnuson–Stevens Fishery Conservation and Management Act (16 U.S.C. 1801 et seq.), the Endangered Species Act of 1973 (Endangered Species Act) (16 U.S.C. 1531 et seq.), the Migratory Bird Treaty Act (16 U.S.C. 703-712), the National Wildlife Refuge System Administration Act of 1966 (16 U.S.C. 668dd-668ee), the Refuge Recreation Act (16 U.S.C. 460k et seq.), the Marine Mammal Protection Act (16 U.S.C. 1361 et seq.), the Clean Water Act (33 U.S.C. 1251 et seq.), the Oil Pollution Act of 1990 (Oil Pollution Act) (33 U.S.C. 2701et seq.), and Title I of the Marine Protection, Research, and Sanctuaries Act (Ocean Dumping Act), 33 U.S.C. 1401 et seq. For example, the Endangered Species Act generally prohibits the taking of listed fish and wildlife species, and also generally ensures that Federal actions, including fisheries management, are not likely to jeopardize the continued existence of any such species nor adversely modify designated critical habitats. Numerous other statutes, including the Clean Water Act, the Oil Pollution Act, and the Ocean Dumping Act, address both land-based and ocean-based sources of pollution and help ensure that water quality conditions support the conservation values of the Pacific Remote Island ecosystems.Therefore, I find that appropriately managed commercial fishing would not put objects of scientific and historic interest within the PRIMNM at risk.After further consideration of the nature of the objects identified in Proclamations 8336 and 9173 and the protection of those objects already provided by the Magnuson-Stevens Fishery Conservation and Management Act and other relevant laws, I find that a prohibition on commercial fishing is not, at this time, necessary for the proper care and management of the PRIMNM or the objects of historic or scientific interest therein.NOW, THEREFORE, I, DONALD J. TRUMP, President of the United States of America, by the authority vested in me by the Constitution and the laws of the United States, including section 320301 of title 54, United States Code (Antiquities Act), hereby proclaim that:(a) All language under the section entitled “Management of the Marine National Monument” in Proclamation 9173 is deleted and replaced with the following:“Nothing in this proclamation shall change the management of the Pacific Remote Islands Marine National Monument as specified in Proclamation 8336. The Secretary of the Interior, in consultation with the Secretary of Commerce, shall have primary responsibility for management of the Monument Expansion pursuant to applicable legal authorities. The Secretary of Commerce, through the Administrator of the National Oceanic and Atmospheric Administration, and in consultation with the Secretary of the Interior, shall within the Monument Expansion have primary responsibility with respect to fishery-related activities regulated pursuant to the Magnuson-Stevens Fishery Conservation and Management Act (16 U.S.C. 1801 et seq.), and any other applicable legal authorities. The Secretary of Commerce and the Secretary of the Interior shall not allow or permit any appropriation, injury, destruction, or removal of any object of the Monument Expansion except as provided for by this proclamation as modified by the Proclamation of April 17, 2025 (Unleashing American Commercial Fishing in the Pacific).Between 50 to 200 nautical miles from the landward boundaries of the Monument, the Secretary of Commerce shall not prohibit commercial fishing within the boundaries of the Monument and the Monument Expansion in those areas where the Monument and Monument Expansion is coterminous with the Exclusive Economic Zone of the United States. The implementation of any regulation of commercial fishing within the Monument and the Monument Expansion shall be done in coordination with the Secretary of Defense. Only United States flagged vessels shall be allowed to commercially fish within the boundaries of the Monument and the Monument Expansion, except that permits may be issued to foreign flagged vessels to transship fish harvested by United States fishermen.The Secretary of Commerce and the Secretary of the Interior shall take appropriate action pursuant to their respective authorities under the Antiquities Act; the Magnuson-Stevens Fishery Conservation and Management Act; and such other authorities as may be available to implement this proclamation, to regulate fisheries, and to ensure proper care and management of the Monument Expansion.The United States shall continue to preserve the freedom of the seas (i.e., all of the rights, freedoms, and lawful uses of the sea recognized in international law and enjoyed by all nations, including the conduct of military activities, exercises, and surveys in or over the Exclusive Economic Zone of the United States), and to protect the training, readiness, and global mobility of the United States Armed Forces as United States national interests that are essential to the peace and prosperity of civilized nations.The Secretary of Defense shall continue to manage Wake Island and Johnston Atoll as specified in Proclamation 8336.”.(b) The Secretary of Commerce, through the Administrator of the National Oceanic and Atmospheric Administration, shall expeditiously publish new proposed rules in the Federal Register to amend or repeal all burdensome regulations that restrict commercial fishing in the PRIMNM.Nothing in this proclamation shall be construed to revoke, modify, or affect any withdrawal, reservation, or appropriation, other than the one created by Proclamations 8336 and 9173.Nothing in this proclamation shall change the management of the areas designated and reserved by Proclamations 8336 and 9173, except as explicitly provided in this proclamation.If any provision of this proclamation, including its application to a particular parcel of land, is held to be invalid, the remainder of this proclamation and its application to other parcels of land shall not be affected thereby.IN WITNESS WHEREOF, I have hereunto set my hand thisseventeenth day of April, in the year of our Lord two thousand twenty-five, and of the Independence of the United States of America the two hundred and forty-ninth.
DONALD J. TRUMP

MIL OSI USA News –

April 18, 2025
MIL-OSI USA: Senator Coons statement on Trump’s attack on AmeriCorps

US Senate News:

Source: United States Senator for Delaware Christopher Coons

WASHINGTON – U.S. Senator Chris Coons (D-Del.) issued the following statement in response to reports that President Donald Trump has placed a majority of AmeriCorps agency staff on administrative leave. Trump had already recalled hundreds of AmeriCorps NCCC members trained to respond to emergencies from the field:

“President Trump’s attempted destruction of AmeriCorps is alarming and will damage communities across the nation. For more than 30 years, in more than 50,000 communities, AmeriCorps members and volunteers have made our country stronger, healthier, and more resilient. AmeriCorps members are relief workers on the front lines of natural disasters, teachers improving literacy in schools, and health care workers in underserved communities. There are few better examples of government working strategically and efficiently to improve the lives of those they serve.

“The men and women who serve AmeriCorps as volunteers, members, and staff deserve our thanks. Instead, Donald Trump and Elon Musk are once again turning their backs on the very people who make our country great. I am working with colleagues on both sides of the aisle to press the Trump Administration to reverse these unjustified cuts and restore a valued program.”

A 2020 non-partisan study found that for every $1 Congress appropriates to AmeriCorps and Senior Corps, the programs return more than $17 to the government and economy.

Senator Coons is co-Chair of the Senate National Service Caucus.

MIL OSI USA News –

April 18, 2025

MIL-OSI Russia: Financial news: Deposit auction of JSC “KAVKAZ.RF” will be held on 17.04.2025

Translartion. Region: Russians Fedetion –

Source: Moscow Exchange – Moscow Exchange –

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

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

HTTPS: //VVV. MOEX.K.MO/N89567

Categoris24-7, Miles, Moscow, Moscow Stotsk Exchang, Russians savings, Russians Federal, Russians Language, Russian economy

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Parameters
Date of the deposit auction	04/17/2025
Placement currency	Rub
Maximum amount of funds placed (in placement currency)	120,000,000.00
Placement period, days	52
Date of deposit	04/18/2025
Refund date	06.06.2025
Minimum placement interest rate, % per annum	20.90
Conditions of imprisonment, urgent or special	Urgent
Minimum amount of funds placed for one application (in placement currency)	120,000,000.00
Maximum number of applications from one Participant, pcs.	1
Auction form, open or closed	Open
Basis of the Treaty	General Agreement

Schedule (Moscow time)
Preliminary applications	from 10:30 to 10:40
Applications in competition mode	from 10:40 to 10:45
Setting a cut-off percentage or declaring the auction invalid	until 10:55

Additional terms

MIL OSI Russia News –

April 18, 2025

MIL-OSI Security: Iranian National Indicted for Operating Online Marketplace Offering Fentanyl and Money Laundering Services

Source: United States Department of Justice

A federal grand jury has charged Behrouz Parsarad, an Iranian national, for his role as the founder and operator of Nemesis Market, a dark web marketplace for illegal drugs and criminal cyber-services, such as stolen financial information, fraudulent identification documents, counterfeit currencies, and computer malware.

According to the indictment, Parsarad, 36, of Tehran, launched Nemesis Market on the dark web in March 2021. At its peak, Nemesis Market had over 150,000 users and more than 1,100 vendor accounts registered worldwide. Between 2021 and 2024, Nemesis Market processed more than 400,000 orders. Of these, more than 55,000 orders were categorized as orders for stimulants, including methamphetamine, cocaine, cocaine base (crack cocaine), and other controlled substances. An additional 17,000 orders were categorized as orders for opioids, including fentanyl, heroin, and oxycodone. Certain substances covertly purchased by the government from Nemesis were confirmed by laboratory reports to be mixtures and substances containing fentanyl, a Schedule II controlled substance, and/or acetylfentanyl, heroin, and/or protonitazene, each a Schedule I controlled substance.

“The allegations in this indictment span over four hundred thousand transactions involving fentanyl, other dangerous drugs, and a wide range of contraband made accessible on the darknet for more than three years,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “Through cooperation with German and Lithuanian partners, the alleged administrator of this marketplace has been charged, servers and other infrastructure have been seized, and dangerous drugs and other contraband have been stopped from entering the United States. This case demonstrates the Department’s tireless commitment to protecting U.S. communities from the harms caused by fentanyl and darknet marketplaces and pursuing accountability for those who would endanger our communities no matter where they are located.”

“Anyone who tries to profit from the sale of illegal drugs – whether it’s on the streets or online – will face consequences. Whether you sell or help others sell these dangerous drugs, you will be held accountable,” said Acting U.S. Attorney Carol M. Skutnik for the Northern District of Ohio. “I want to acknowledge the excellent investigative work of our federal agency partners here in Ohio who helped us to bring the charges in this case. Together, we remain committed to keeping our neighborhoods safe and our streets free from illegal narcotics.”

“This indictment, made possible by the assistance of our German and Lithuanian allies, underscores the importance of global partnerships and international collaboration,” said FBI Cleveland Acting Special Agent in Charge Charles Johnston. “Nemesis Market, through the darknet, was a borderless powerhouse of criminal activity that not only fueled the drug epidemic, but also a multitude of illegal acts with the capacity to harm our citizens and destroy our communities. The FBI stands firm in its commitment to identify and investigate unlawful individuals and dismantle their networks operating with criminal intent.”

Parsarad is charged with conspiracy to distribute controlled substances and distribution of controlled substances in the Northern District of Ohio and elsewhere. In addition, Parsarad is also charged with money laundering conspiracy for both using proceeds to promote illegal drug dealing and for offering money laundering services through Nemesis Market by mixing cryptocurrencies used to pay for goods and services to obscure their origins. Nemesis users were not allowed to conduct transactions in official, government-backed currencies.

On March 20, 2024, U.S. law enforcement, in cooperation with German and Lithuanian authorities, seized Nemesis Market and blocked the flow of these drugs into the United States and elsewhere. In March 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against Parsarad for his role as the administrator of Nemesis Market. According to OFAC, Nemesis Market facilitated the sale of nearly $30 million worth of drugs between 2021 and 2024.

If convicted, Parsarad faces a mandatory minimum penalty of 10 years in federal prison and a maximum penalty of life.

The FBI Cleveland Division is investigating the case with assistance from the DEA and IRS-CI. The Justice Department’s Office of International Affairs and Cybercrime Liaison Prosecutor to Eurojust provided significant assistance.

Trial Attorney Gaelin Bernstein of the Criminal Division’s Computer Crime and Intellectual Property Section and Assistant U.S. Attorney Segev Phillips for the Northern District of Ohio are prosecuting the case, with substantial assistance from the U.S. Attorneys Offices for the Northern District of Illinois and District of Massachusetts.

This case was investigated as part of an FBI-led interagency Joint Criminal Opioid and Darknet Enforcement (J-CODE) operation. J-CODE brings together experts from the DEA, the Postal Inspection Service, Homeland Security Investigations, as well as the Department of Defense and the Customs and Border Protection, along with the FBI. The Justice Department appreciates the cooperation and significant assistance provided by law enforcement partners in the British Virgin Islands, Germany, Lithuania, and Türkiye.

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

MIL Security OSI –

April 18, 2025

MIL-OSI Russia: Financial news: On 18.04.2025, the deposit auction of JSC “SME Corporation” will take place

Translartion. Region: Russians Fedetion –

Source: Moscow Exchange – Moscow Exchange –

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

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

HTTPS: //VVV. MOEX.K.MO/N89591

Categoris24-7, Miles, Moscow, Moscow Stotsk Exchang, Russians savings, Russians Federal, Russians Language, Russian economy

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Parameters
Date of the deposit auction	04/18/2025
Placement currency	Rub
Maximum amount of funds placed (in placement currency)	1 100 000 000.00
Placement period, days	32
Date of deposit	04/18/2025
Refund date	05/20/2025
Minimum placement interest rate, % per annum	20.00
Conditions of imprisonment, urgent or special	Urgent
Minimum amount of funds placed for one application (in placement currency)	1 100 000 000.00
Maximum number of applications from one Participant, pcs.	1
Auction form, open or closed	Open
Basis of the Treaty	General Agreement

Schedule (Moscow time)
Preliminary applications	from 10:30 to 10:40
Applications in competition mode	from 10:40 to 10:50
Setting a cut-off percentage or declaring the auction invalid	until 11:30

Additional terms

MIL OSI Russia News –

April 18, 2025

MIL-OSI Russia: Financial news: Self-prohibition on concluding consumer credit agreements (loans): user profile

Translartion. Region: Russians Fedetion –

Source: Central Bank of Russia (2) –

March 1, 2025 successfully launched new mechanismcombating fraud, which allows citizens to establish in their credit history a self-prohibition on banks and microfinance organizations concluding consumer credit (loan) agreements with them.

Number of citizens who have established self-prohibition

more than 8.1 million citizens

used the service to establish a self-prohibition for the first month

Every citizen with a TIN is given the opportunity to set (remove) a self-prohibition free of charge and any number of times, and to obtain information about whether he has a self-prohibition by submitting an application to qualified credit history bureaus through State Services.

The most popular type of self-prohibition

Total ban

92% of citizens who established a self-prohibition chose a complete ban

By type of prohibition

Age of citizens who showed the greatest interest in self-prohibition

over 40 years old

age of 70% of citizens who have established self-prohibition

By age

Credit obligations of citizens who have established a self-prohibition

74%

citizens who have established self-prohibition have or had credit obligations

By type of obligations

By type of prohibition (there are no and were no obligations)

By type of prohibition (having/had obligations)

It should be noted that 44% of citizens who set a self-prohibition did not have any current credit obligations at the time of its setting.

26% of citizens who set up a self-prohibition never had any credit obligations. Mostly, such citizens set up a complete self-prohibition.

Clients who only have active loans in microfinance organizations practically did not use the new instrument (less than 1% of citizens who set a self-prohibition).

90% of citizens who previously had microloans and took advantage of the new mechanism have established a complete ban.

Credit activity of citizens who have established self-prohibition (taking into account repaid obligations)

Among citizens who have established self-prohibition, 31% had or currently have from 2 to 5 obligations, 27% have more than 6 obligations.

Popularity of self-prohibition in the subjects of the Russian Federation

19%

citizens who have established self-prohibition live in Moscow and the Moscow region

The leaders in the number of self-prohibitions established in the Russian Federation in the first month of the launch of the self-prohibition mechanism were residents of:

* In each of the subjects of the Russian Federation.

Moscow and Moscow region more than 19%

Saint Petersburg more than 5%

Rostov region, Sverdlovsk region, Republic of Bashkortostan and Krasnodar region* more than 3%

Subjects of the Russian Federation in which the service of establishing a self-prohibition, based on the results of the first month of operation of such a mechanism, became the most in demand by citizens (more than 7% of the total population of each of the specified subjects of the Russian Federation):

Nenets Autonomous Okrug; Yamalo-Nenets Autonomous Okrug; Komi Republic; Saint Petersburg; Republic of Karelia; Moscow Region; Kamchatka Krai; Moscow; Murmansk Region; Khanty-Mansi Autonomous Okrug – Yugra.

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

MIL OSI Russia News –

April 18, 2025


Moscow and Moscow region	more than 19%
Saint Petersburg	more than 5%
Rostov region, Sverdlovsk region, Republic of Bashkortostan and Krasnodar region*	more than 3%

Category: Economy

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Homes fit for heroes: Raft of news measures to improve military family housing

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Antony Cotton MBE said:

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Number of citizens who have established self-prohibition

The most popular type of self-prohibition

By type of prohibition

Age of citizens who showed the greatest interest in self-prohibition

By age

Credit obligations of citizens who have established a self-prohibition

By type of obligations

By type of prohibition (there are no and were no obligations)

By type of prohibition (having/had obligations)

Credit activity of citizens who have established self-prohibition (taking into account repaid obligations)

Popularity of self-prohibition in the subjects of the Russian Federation