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Category: Economy

  • MIL-OSI USA: Hickenlooper, Western Senators Introduce Landmark Bipartisan Wildfire Mitigation Bill

    US Senate News:

    Source: United States Senator John Hickenlooper – Colorado
    Hickenlooper’s Fix Our Forests Act will help reduce wildfire risk for Colorado communities and speed up mitigation projects while maintaining environmental safeguards and encouraging local involvement
    Hickenlooper, Curtis, Padilla, and Sheehy landed a bipartisan deal after months of negotiations
    Legislation is supported by: Environmental Defense Fund, The Nature Conservancy, Alliance for Wildfire Resilience, Colorado Governor Jared Polis, and many more
    WASHINGTON – U.S. Senators John Hickenlooper, John Curtis, Alex Padilla, and Tim Sheehy introduced the Fix Our Forests Act, bipartisan legislation to combat growing catastrophic wildfires across Colorado and the United States. The bill works to strengthen wildfire resilience by improving forest management, supporting fire-safe communities, and streamlining approvals for projects that protect communities and ecosystems from extreme wildfires. 
    The comprehensive bill reflects months of bipartisan negotiations to find consensus on how to accelerate forest management projects, promote safe and responsible prescribed fire treatments, expand public input in assessments of wildfire resilience needs, and enhance collaboration between federal agencies, states, tribes, and stakeholders.
    “The growing wildfire crisis threatens our Colorado communities,” said Hickenlooper. “We need to act NOW with the speed required to mitigate wildfires and make our homes and businesses more resilient to these disasters, and to put in place protections for our communities and the environment.”
    “Utah and the American West are on the front lines of a growing wildfire crisis—and the longer we wait, the more acres will burn, and more families will be impacted,” said Curtis. “After months of bipartisan cooperation and consensus-building, my colleagues and I are introducing comprehensive legislation to support forest health, accelerate restoration, and equip local leaders—from fire chiefs to mayors—with the tools and data they need to protect lives, property, and landscapes. I’m proud of this bill and look forward to receiving additional input from my colleagues as it advances through Committee and the full Senate.”
    “As increasingly frequent and catastrophic wildfires in California make clear, we need durable solutions to confront the growing impacts of the wildfire crisis,” said Padilla. “This bill represents a strong, bipartisan step forward, not just in reducing wildfire risk in and around our national forests, but in protecting urban areas and our efforts to reduce climate emissions. It prioritizes building fire-resilient communities, accelerating the removal of hazardous fuels, and strengthening coordination across federal, state, and tribal agencies, including through the creation of the first-ever National Wildfire Intelligence Center. I look forward to continuing to advance forward-thinking, practical solutions to protect our communities from devastating wildfires—and that includes pushing for sustained funding and staffing for our federal land management agencies to ensure they have the tools to get this critical work done.”
    “Better stewarding our forests is something we can all agree on, regardless of party, because it helps secure a stronger economy, more resilient, healthy forests, and safer communities,” said Sheehy. “I’m proud to join my colleagues on this important legislation to support those on the frontlines protecting communities from catastrophic wildfire, better manage our forests, create more good-paying jobs, and unleash our resource economy.”
    The West has long been prone to wildfires, but climate change, prolonged drought, and the buildup of dry fuels have increasingly intensified these fires and extended fire seasons. Wildfires today are more catastrophic – growing larger, spreading faster, and burning more land than ever before.
    Colorado has seen four of the five largest fires in our state’s history since 2018. The 2021 Marshall fire was Colorado’s most destructive on record, burning over 1,000 homes. The Cameron Peak and East Troublesome fires in 2020 together burned more than 400,000 acres, the two largest fires in the state’s history. Nationwide, total acres burned rose from 2.7 million in 2023 to nearly 9 million in 2024, a 231% increase.
    Forest health challenges are also increasing in frequency and severity due to climate stressors like drought and fire, and biological threats like invasive species – all of which the West is particularly vulnerable to. From 2001 to 2019, total forest area declined by 2.3%, while interior forest area decreased by up to 9.5%. The Intermountain region had the largest area losses, and the Pacific Southwest had the highest annual loss rates.
    To address these challenges, the Fix Our Forests Act would:
    Establish new and updated programs to reduce wildfire risks across large, high-priority “firesheds,” with an emphasis on cross-boundary collaboration.
    Streamline and expand tools for forest health projects (e.g., stewardship contracting, Good Neighbor Agreements) and provide faster processes for certain hazardous fuels treatments.
    Create a single interagency program to help communities in the wildland-urban interface build and retrofit with wildfire-resistant measures, while simplifying and consolidating grant applications.
    Expand research and demonstration initiatives – including biochar projects and the Community Wildfire Defense Research Program – to test and deploy cutting-edge wildfire prevention, detection, and mitigation technologies.
    Enable watershed protection and restoration projects to include adjacent non-federal lands; establish new programs for white oak restoration; and clarify policies to reduce wildfire-related litigation and expedite forest health treatments.
    A one-pager can be found here, and a section-by-section can be found here.
    The Fix Our Forests Act was originally introduced in the House of Representatives by Representatives Bruce Westerman and Scott Peters.
    Hickenlooper has been an active supporter of wildfire resilience, including sponsorship of legislation to restore land management agency staffing and pushback on the firings of the federal employees that support wildfire resilience on our public lands. The Fix Our Forests Act provides the tools necessary to accelerate wildfire resilience, which will work alongside Hickenlooper’s sustained efforts for the funding and staffing necessary for land management efforts.
    The Fix Our Forests Act is supported by Colorado Governor Jared Polis, Colorado Department of Natural Resources, Colorado State Forest Service, The Nature Conservancy, Environmental Defense Fund, National Wildlife Federation, National Audubon Society, Theodore Roosevelt Conservation Partnership, BPC Action, International Association of Fire Chiefs, Alliance for Wildfire Resilience, Utah Governor Spencer Cox, California Governor Gavin Newsom, Citizens’ Climate Lobby, Bipartisan Policy Center Action, Federation of American Scientists, Association of Firetech Innovation (AFI), Hispanics Enjoying Camping, Hunting, and the Outdoors (HECHO), Wildfire Alliance, Tall Timbers, Rural Voices for Conservation Coalition, The Stewardship Project, and Megafire Action.
    “I applaud the bipartisan work and leadership of the Senate sponsors of this bill, including Colorado’s Senator Hickenlooper, in crafting a bill that will make Colorado communities safer amidst the urgent and growing wildfire crisis in the West. From supporting responsible and expedited on-the-ground fuel reductions, to bolstering the use and development of the latest wildfire satellite monitoring technology which compliments Colorado’s national leadership in the aerospace sector, and to investing in stewardship practices for local communities to be better prepared for wildfires and reforestation efforts with the state nursery to improve our ability to recover – this bill makes major strides in addressing the country’s wildfire risk and will support Colorado’s continued leadership in wildfire preparedness, response and recovery,” said Colorado Governor Jared Polis.
    “Extreme risk of catastrophic wildfires across the West demands urgent action,” said California Governor Gavin Newsom. “In California, we’re fast-tracking projects by streamlining state requirements and using more fuel breaks and prescribed fire. The Fix Our Forests Act is a step forward that will build on this progress — enabling good projects to happen faster on federal lands. I’m appreciative of Senator Padilla and the bipartisan team of Senators who crafted a balanced solution that will both protect communities and improve the health of our forests.”
    “A century of fire suppression and decades of reduced forest management have left us with overgrown, unhealthy forests that are more vulnerable to disease and catastrophic wildfire,” said Utah Governor Spencer Cox. “The Fix Our Forest Act, along with the tools provided by President Trump’s executive order, will help us actively manage our forests—protecting our watersheds, improving wildlife habitat, reducing wildfire risk, and providing the timber we need to build strong homes and neighborhoods.”
    “TNC appreciates the serious undertaking of Senators Curtis, Hickenlooper, Sheehy, and Padilla to build on legislation targeted at preventing more catastrophic wildfires through improved forest and fuels management and expanded use of prescribed fire. TNC has been working to restore beneficial fire and improve the resilience of forest systems on the ground for more than 60 years. Every year, wildfires continue to grow deadlier and more devastating to communities and the environment, and we remain concerned that the significant cuts to the Forest Service workforce will impede work to protect people and nature from these wildfire risks.  We support this legislative effort aimed at improving the forest management process to better address catastrophic wildfires,” said Kameran Onley, managing director of North America policy and government relations, The Nature Conservancy.
    “For many Americans, catastrophic wildfires are a very real and growing threat to their homes and lives,” said Environmental Defense Fund Executive Director Amanda Leland. “The U.S. Forest Service needs new tools and more resources now to prevent and control these wildfires, and with the right funding, this bipartisan proposal will help. Protecting people and nature from catastrophic wildfire requires both a robust, science-based plan of forest management and the resources to implement it.” 
    “As the megafire crisis grows larger and more severe with each fire season, we need policy solutions that reflect the urgency and scale of the problem. Senators Curtis, Hickenlooper, Padilla and Sheehy have negotiated a Senate companion to the Fix Our Forests Act that will move the federal government towards a science-based, strategic approach to addressing megafires. We look forward to working with the sponsors to advance this bill and enact the most transformative wildfire and land management law in a generation—since the Healthy Forest Restoration Act of 2003, if not the National Forest Management Act of 1976,” said Matt Weiner, CEO of Megafire Action.
    “We are thrilled to see the Fix Our Forests Act introduced in the Senate through a bipartisan cooperation between Senators Curtis, Hickenlooper, Padilla, and Sheehy. The bill greatly expands upon the version that passed the House, adding critical details to support wildfire risk reduction in the built environment and provisions for mitigating the health impacts of smoke to communities while promoting expanded use of prescribed fire,”said Annie Schmidt and Tyson Bertone-Riggs, Managing Directors, Alliance for Wildfire Resilience. “Covering a third of the recommendations of the Wildland Fire Mitigation and Management Commission, this bill is a significant step forward in wildfire policy and, coupled with sufficient funding and staffing to realize the proposed tools and programs, will make a real difference in our nation’s experience with wildfire.”
    “I thank Senators Hickenlooper, Padilla, Curtis, and Sheehy for introducing this bipartisan legislation,” said Fire Chief Josh Waldo, President and Board Chair of the International Association of Fire Chiefs. “As we saw in January’s fires in Los Angeles, the nation faces a serious and growing risk from fires in the wildland urban interface (WUI). This legislation will enact many of the recommendations of the Wildland Fire Mitigation and Management Commission. It also will improve coordination of federal wildland fire preparedness efforts; promote the use of prescribed fires and other preventative measures to prevent WUI fires; and promote the development of new technologies to help local fire departments. We look forward to working with the bill’s sponsors to pass this legislation.”
    “Our national forests provide essential wildlife habitat, store carbon, and supply communities across the nation with clean air and water. These vital landscapes are under threat and must be proactively stewarded if they are to survive the changing climate, rapidly intensifying wildfires, and past management missteps. The bipartisan Fix Our Forests Act will help increase the pace and scale of evidence-backed forest management, including the use of beneficial prescribed fire and the restoration of white oak forests. But we must have a robust and talented federal workforce in place for it to succeed,” said Abby Tinsley, vice president for conservation policy at the National Wildlife Federation. “We will work with Senators Hickenlooper, Padilla, Sheehy, Curtis, and Chairman Westerman in the House to strengthen and advance this important conversation.”
    “Wildfires grow more intense and destructive each year, leaving behind immense devastation for our forests, wildlife, and communities,” said Marshall Johnson, chief conservation officer at the National Audubon Society.“The bipartisan Fix Our Forests Act represents an important step in reducing wildfire risks across forested landscapes. Audubon thanks Senators Hickenlooper, Curtis, Padilla, and Sheehy for working together to craft a bill that sets the stage for improved forest management, and we urge Congress to dedicate the resources necessary to ensure federal agencies are well-equipped to reduce wildfire risks, steward our forestlands, and protect wildlife habitat.”
    “We applaud the efforts made by Senator Hickenlooper in the Fix Our Forests Act to provide federal, state, and local partners with the tools needed to address wildfire mitigation in the most vulnerable areas in Colorado. Wildfires do not abide by our political boundaries. But here in Colorado we have built strong coordination among federal, state, local land managers and stakeholders to help reduce the impact of wildfires on our critical infrastructure and landscapes,” said Dan Gibbs, Executive Director, Colorado Department of Natural Resources. “We appreciate that this legislation builds upon this important collaboration and draws on existing agreements, such as Shared Stewardship, which will help strengthen our intergovernmental partnerships as we prepare for the next Colorado mega-fire.”
    “Forests are central to our way of life in Colorado. They support world-class outdoor recreation and a vital water supply that more than 40 million Americans rely upon. I am grateful to Senator John Hickenlooper for his work on the bipartisan Fix Our Forests Act,” said Matt McCombs, Colorado State Forester and Director of the Colorado State Forest Service. “This critical legislation will bolster our shared stewardship ethic in Colorado and enhance our ability as a state to improve forest health, protect lives, communities and water supplies from wildfire, and ensure that the forests that define Colorado endure for generations to come.”
    “The growing frequency and severity of wildfires pose a tremendous threat to the health of our forests and the safety of countless communities. The Fix Our Forests Act takes important steps to mitigate wildfires, improve forest health, and protect local communities. We appreciate this thoughtful, bipartisan effort led by Senators Curtis, Hickenlooper, Sheehy, and Padilla to advance this important legislation,” said Jennifer Tyler, VP of Government Affairs at Citizens’ Climate Lobby.
    “The declining health of our National Forests and the fish and wildlife habitat that they provide is a concern for America’s hunters and anglers,”said Joel Pedersen, president and CEO of the Theodore Roosevelt Conservation Partnership. “TRCP applauds the leadership of Senators Curtis, Sheehy, Hickenlooper, and Padilla for introducing the bipartisan Fix Our Forests Act in the Senate and urges Congress to advance these important forest management provisions and to accompany them with adequate resources and capacity to carry out on-the-ground work.”  
    “HECHO enthusiastically applauds the impressive bipartisan leadership behind the Senate’s Fix Our Forests Act. At a time when cooperation is more important than ever, these Senators are putting forward real, thoughtful solutions to reduce wildfire risk while engaging local and rural communities. This legislation is a critical step toward actively managing our forests to protect public lands, watersheds, and the communities that depend on them. By expediting emergency authorities in high-risk firesheds—and through the creation of the Wildfire Intelligence Center—this effort has the potential to significantly reduce catastrophic wildfires and strengthen prediction and response, particularly in fire-prone states like Arizona, New Mexico, Colorado, Nevada, and Utah. It’s a shining example of the kind of balanced, forward-looking leadership we need to protect our natural landscapes and communities,” said Camilla Simon, Executive Director of Hispanics Enjoying Camping, Hunting, and the Outdoors (HECHO).
    “BPC Action applauds the bipartisan leadership of Sens. Curtis (R-UT), Hickenlooper (D-CO), Sheehy (R-MT), and Padilla (D-CA) on the introduction of the Fix Our Forests Act. By streamlining and improving forest and hazardous fuels management activities on public and Tribal lands, this legislation will help reduce wildfire risks, improve forest health, and protect communities in fire-prone areas. The Fix Our Forests Act also delivers substantial economic and environmental benefits by addressing critical needs to enhance the domestic supply chain of seeds and advance biochar commercialization,” said Michele Stockwell, President of Bipartisan Policy Center Action (BPC Action).

    MIL OSI USA News –

  • MIL-OSI Europe: Organized Crime – International Conference Against Environmental Crime (11.04.25)

    Source: Republic of France in English
    The Republic of France has issued the following statement:

    More than 100 of the world’s leading experts and officials on environmental crimes gathered in Paris at the “Security and Development Dialogue for Advancing Multilateral and Multi-Stakeholder Responses to Environmental Crime”, hosted by France and the Global Initiative Against Transnational Organized Crime (GI-TOC), with financial support of the European Union through the ECO-SOLVE project.

    Opening the conference, Mr Thani Mohamed-Soilihi, France’s Minister Delegate for Francophonie and International Partnerships, called for the international community to prioritize action against environmental crimes. Despite the uncertain international context, the minister emphasized the need to keep the issue of environmental crimes at the heart of the international community’s concerns.. He highlighted the need for collective action, including in preparation for the UN Oceans Conference to be held in Nice this June.

    GI-TOC’s Director Mark Shaw called for greater inclusivity and innovation to deal with environmental crimes. He highlighted the global character of illicit flows and emphasized the need for “diverse action across supply chains” to cut the links that enable environmental crime to flourish, not least through licit trade routes and information platforms. “We need more internationally coordinated action across sectors, and we need globally funded and resourced responses”, said Shaw, also highlighting the key roles that can be played by civil society and the private sector.

    The international conference, which took place on 8 and 9 April, took stock of current international responses to environmental crimes, shared best practices and identified opportunities for more effective engagement through upcoming multilateral processes – including a new Expert Group Meeting under the Conference of Parties to the UN Convention against Transnational Organized Crime (UNTOC), the UN Oceans Conference, the Climate COP, the UN General Assembly, and the next UN Congress on Crime Prevention and Criminal Justice taking place in 2026.

    Participants included officials from diverse countries, including Colombia, Peru, Brazil, UAE, UK, Indonesia, Kenya, Gabon and Germany, civil society, academia, law enforcement and criminal justice personnel.

    MIL OSI Europe News –

  • MIL-OSI: SECU Foundation Awards $500,000 to Helpmate for Domestic Violence Shelter in Buncombe County

    Source: GlobeNewswire (MIL-OSI)

    ASHEVILLE, N.C., April 11, 2025 (GLOBE NEWSWIRE) — A $500,000 grant awarded by SECU Foundation will contribute toward the construction of a new shelter for Western North Carolina’s largest service provider for domestic violence survivors, Helpmate, increasing the current space to support 475 adults and children annually.

    Helpmate is the only organization in Buncombe County devoted solely to providing shelter and a full range of survivor services, including a 24-hour crisis hotline, case management, court and child advocacy, counseling, and education. In 2023 the non-profit fielded over 3,500 crisis hotline calls and provided shelter to 246 children and adults.

    “The Foundation is eager to support the important work that Helpmate has been doing in Buncombe County for over 45 years to assist domestic violence survivors,” said SECU Foundation Executive Director Jama Campbell. “This grant will enable them to greatly expand services to the community and provide a safe place for healing and hope for many more who are in need.”

    “Helpmate is grateful for the support of SECU Foundation to enable us to continue to offer safety, shelter, and support to survivors of domestic violence,” said Helpmate Executive Director April Burgess-Johnson. “This award will provide a challenge opportunity to help the organization raise the last $1 million needed to construct a new 43-bed shelter, which will be a safe haven for adults and children who are fleeing abusive homes and creating new and violence-free lives. We invite the community to join SECU Foundation in supporting this important and life-saving endeavor.”

    About SECU and SECU Foundation
    A not-for-profit financial cooperative owned by its members, and federally insured by the National Credit Union Administration (NCUA), SECU has been providing employees of the state of North Carolina and their families with consumer financial services for 87 years. SECU is the second largest credit union in the United States with $53 billion in assets. It serves more than 2.8 million members through 275 branch offices, 1,100 ATMs, Member Services Support via phone, www.ncsecu.org, and the SECU Mobile App. The SECU Foundation, a 501(c)(3) charitable organization funded by the contributions of SECU members, promotes local community development in North Carolina primarily through high-impact projects in the areas of housing, education, healthcare, and human services. Since 2004, SECU Foundation has made a collective financial commitment of over $300 million for initiatives to benefit North Carolinians statewide.

    Contact: Jama Campbell, Executive Director, secufoundation@ncsecu.org

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b66cda08-bf3b-4f75-811c-39ab3335b662

    The MIL Network –

  • MIL-OSI: JA Mining: To cope with the impact of tariffs, use cloud mining to bring stable income opportunities

    Source: GlobeNewswire (MIL-OSI)

    Warwick, England, April 11, 2025 (GLOBE NEWSWIRE) — With the implementation of tariff policies by President Trump’s administration, the global cryptocurrency market is undergoing a profound transformation. The rising costs of mining machines and chips are putting traditional mining models under immense pressure, while cloud mining, as an efficient and low-cost solution, is becoming the preferred choice for more and more investors. In this critical moment, JA Mining has rapidly emerged as a leader in the cloud mining field with its advanced technology and global presence.

    How JA Mining is Changing the Market Environment

    The impact of tariff policies is not only reflected in the rising hardware costs but also in increased market volatility and uncertainty. In such an environment, investors’ demand for cryptocurrency as a safe haven has further increased. Cloud mining, with its advantages of not requiring expensive equipment purchases or bearing high electricity costs, has become the best choice to address this situation. JA Mining has keenly captured market changes, integrated global resources, and optimized cloud mining services to provide users with an efficient and secure mining experience.

    How to Join JA Mining

    1.Register an Account: On the website homepage, users can click “Claim Your $100” to fill in basic information and create a personal account.

    2.Choose a Mining Package: users can browse the various mining packages offered by the platform and choose the one that suits their needs and budget. Here is an example of the potential income you can achieve:

    (For more contracts, please pay attention to the official website of JA MINING platform:   https://jamining.com/)

    3.Start Mining: After purchasing a contract plan, users can start mining immediately. The platform will automatically allocate computing power and update earnings every 24 hours.

    Advantages of JA Mining

    1. Signup Bonus: New users receive a $100 bonus upon registration.

    2.FCA-Regulated: Ensures platform security and compliance under UK regulations.

    3.Efficient Technical Support: Provides efficient and stable mining operations, maximizing user profits.

    4.Flexible Package Options:Offers a variety of mining plans suitable for both small and large investors.

    5.Global Presence: Utilizes worldwide resources to reduce costs and improve efficiency.

    6.Professional Customer Service: Provides 24/7 customer support to ensure users can get help and guidance at any time.

    7.Support for Multiple Currencies: Allows deposits and withdrawals in various cryptocurrencies for global convenience.

    8.Affiliate Program : Offers up to 7% commission, increasing your additional earnings.

    Conclusion

    “The current market environment is full of challenges, but challenges also mean opportunities. Our goal is to make cloud mining the choice for more people and inject new vitality into the cryptocurrency industry,” said the CEO of JA Mining. “We believe that technological innovation and service optimization are key to responding to market changes and driving industry development.”

    Against the backdrop of increasing global economic uncertainty, JA Mining not only provides users with a stable investment channel but also sets a benchmark for the future development of the cryptocurrency industry with its professionalism and foresight. As the impact of tariff policies continues, the potential of cloud mining will be further unleashed, and JA Mining will continue to lead the development of this field, creating more value for users.

    Official website: https://jamining.com/

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. Cryptocurrency mining and staking involve risk. There is potential for loss of funds. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

    The MIL Network –

  • MIL-OSI: Urbana Corporation Announces Additional Investment in Tetra Trust Company

    Source: GlobeNewswire (MIL-OSI)

    /NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./

    TORONTO, April 11, 2025 (GLOBE NEWSWIRE) — Urbana Corporation (“Urbana”) (TSX and CSE: URB, URB.A) is pleased to announce that it has substantially increased its equity stake in Tetra Trust Company (“Tetra”), Canada’s premier trust company licensed for the custody of digital assets, from 19.5% to 55.6% through the acquisition of additional shares from existing shareholders.

    As Canada’s first trust company licensed to custody digital assets in Canada, Tetra has been at the forefront of building innovative and trusted financial infrastructure in the new digital age, keeping billions of digital assets safe and secure within the Canadian jurisdiction.

    Urbana continues to believe strongly in Tetra’s strategy, leadership, and long-term growth potential and commitment to support ongoing initiatives across product innovation, operations, and market expansion. It is excited to have this opportunity to take a much larger position in Tetra.

    “We’re thrilled to see continued support from Urbana,” said Didier Lavallée, CEO of Tetra. “This additional investment is a strong vote of confidence in the direction we’re heading and the value we’re building for our stakeholders.”

    The transaction was completed on April 10, 2025. As part of the transaction, Urbana will propose a nominee for an independent board member.

    About Urbana

    Urbana Corporation is a diversified corporation with a focus on financial services, information services and innovative technologies. The long-term goal of Urbana is to seek and acquire investments for income and capital appreciation through a combination of public and private investments. The portfolio mix of actively managed publicly traded securities with private equity investments has generated significant long-term investment results. For more information, visit www.urbanacorp.com.

    About Tetra

    Founded in 2019, Tetra Trust Company is the first Canadian and leading trust company licensed to custody digital assets. Backed by major players in the industry such as Urbana Corporation, Canadian Securities Exchange and Coinbase Ventures, Tetra delivers the most advanced digital asset storage technology, setting the standard for digital asset custody in the country. For more information, visit www.tetratrust.com.

    For further information contact:
    Elizabeth Naumovski
    Investor Relations
    (416) 595-9106 enaumovski@urbanacorp.com

    Certain statements in this news release constitute “forward-looking” statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Urbana to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Unless required by applicable securities law, Urbana does not assume any obligation to update these forward-looking statements.

    The MIL Network –

  • MIL-OSI United Kingdom: Retired GP completes 88-mile challenge to raise money for Derwent Hill

    Source: City of Sunderland

    A retired GP and celebrated fell runner has successfully completed an 88-mile run from Keswick to Sunderland to raise money for Derwent Hill, the outdoor activity and education centre that profoundly impacted her life during her challenging teenage years.

    Dr. Julie Carter completed her 88-mile, 3-day challenge on Thursday, 10th April, coinciding with her 61st birthday. She crossed the finish line at Sunderland’s Stadium of Light, cheered on by family, friends, colleagues, and young people from local school Dame Dorothy.

    Originally from Sunderland, Julie Carter first visited Derwent Hill over 40 years ago and cites her experiences at the centre as pivotal to her lifelong passion for the great outdoors and giving her the confidence to become a successful GP, champion fell runner, published author and accomplished playwright and actor. 

    Julie is aiming to raise £10,000 to send a class of 30 school children to the centre as a thank you to Derwent Hill for the opportunity she received at just 13 years old and to enable other families who may financially struggle to send their children on residential trips to do so.

    North East businesses are being encouraged to support Julie’s fundraising efforts through donations to the Friends of Derwent Hill. With backing from the registered charity, she aims to raise enough funds to provide a class of young children with a five-day residential stay.

    Speaking of the challenge, Julie said: “For my 60th birthday, I decided to raise money for Derwent Hill and spent months training for this run so to complete it on my 61st birthday is a real milestone for me. Despite the tough terrain, and the long distance testing me, I’m delighted to have completed the challenge. The beautiful scenery and the immeasurable support from the Derwent Hill team, my friends, family, and the local communities in Keswick and Sunderland have really kept me going.

    “Huge thank you to everyone who has donated to my cause already. I am honoured to be able to send some young people to Derwent Hill and give them the change to experience the same activities, views and opportunities as I did. Many children sadly don’t get to take part in such experience due to circumstances and financial limitations but experiences like Derwent Hill can have a profound and lasting impact on young people.  I hope this challenge shows others how much can be achieved and that the young people I am delighted to be able to send to Derwent Hill discover something they didn’t know about themselves like I did.”

    Supported by Together for Children, Julie’s run saw her leave from Derwent Hill in Keswick on Tuesday 8 April, cross moorland and take pathways including the Pennine Way across Teesdale and Weardale before heading towards Chester-le-Street and following the River Wear into Sunderland to complete her challenge.  The 88 miles of the challenge equates to more than three marathons.

    Ray Ross from the Friends of Derwent Hill charity, said: “We’re proud that Derwent Hill has had such a lasting impact on Julie’s life for over 40 years, and honoured that she has taken on this challenge to raise money to send a group of children to the centre. Her resilience and passion are awe-inspiring, and it has been a real privilege to have her support and to watch her complete this journey.

    “The Friends of Derwent Hill have been incredibly supported throughout. We’ve received wonderful comments and donations from local businesses about her efforts, and we’d love to add a bit more to the total. If we can help other children in the same way Derwent Hill helped Julie all those years ago, it will be an amazing legacy for the centre as well as Julie’s efforts. We’re always extremely grateful for donations, large or small so it would be wonderful to hear from anyone else who is interested in donating to The Friends of Derwent Hill.”

    Located on the outskirts of Keswick, Derwent Hill is owned by Sunderland City Council and operated by Together for Children. It welcomes more than 2,600 children each year for residential visits with more than 80% living in and around Sunderland.   The centre also offers a diverse array of development training courses for business of all sizes.

    Simon Marshall, Director of Children’s Services and Chief Executive of Together for Children, added: “Running 88-miles in just three days is a brilliant achievement and I’d like to extend a huge congratulations and thank you to Julie for taking on this challenge on behalf of Derwent Hill. Julie’s story is a very welcome remind about just how much of a difference Derwent Hill can make for young people and her passion and determination is inspiring. We look forward to welcoming the children she has funded to visit the centre in the coming months.”

    Councillor Michael Butler Cabinet Member for Children’s Services, Child Poverty and Skills at Sunderland City Council said:  “Derwent Hill is a wonderful resource to have and one of the only outdoor centres still owned by a local authority in the country and we are particularly proud to welcome over 2,000 children from Sunderland each year to the centre, as well as a whole host of corporate partners. Nothing beats getting out and about in the fresh air and taking on something you didn’t know you could do, and Julie truly epitomises what can be achieved when children are encouraged to try something new and to push themselves.”

    Julie Carter has several writing credits to her name, including Makin a Mackem, Running the Red Line, and The Dreamtime Fell Runner.

    Donations can be made via Friends of Derwent Hill’s JustGiving Page.  For businesses looking to find out more, email derwent.hill@sunderland.gov.uk .

    MIL OSI United Kingdom –

  • MIL-OSI USA: Congresswoman Tenney Introduces the High-Quality Charter Schools Act to Boost School Choice

    Source: United States House of Representatives – Congresswoman Claudia Tenney (NY-22)

    Washington, DC – Congresswoman Claudia Tenney (NY-24) today, alongside Congressman Kevin Kiley (CA-3), Congresswoman Nicole Malliotakis (NY-11), and Congressman Burgess Owens (UT-4), introduced the High-Quality Charter Schools Act to expand school choice by creating a new tax credit for charitable contributions to nonprofit charter school organizations. 

    The demand for high-quality charter schools has increased rapidly, yet the supply cannot keep up due to the initial start-up cost of creating a new charter school, which can be up to $20 million. This legislation would establish a 75% federal tax credit for qualified charitable contributions made to nonprofit charter school organizations with proven success, incentivizing donations to support the development of more high-quality charter schools. To receive contributions, each eligible organization must establish a separate qualified account to use eligible funds exclusively for charter school expansion within five years of receipt, and must also conduct annual independent, certified financial and compliance audits.

    “Charter schools have a proven track record of success, working to ensure every student, regardless of zip code, is given the opportunity to succeed. The High-Quality Charter Schools Act provides a tax credit for charitable donations that will develop and expand the number of charter schools to provide even more students access to affordable school choice options. In fact, this legislation could lead to nearly tripling the number of children who have the option of attending a charter school. Parents know what is best for their children, and by providing parents with options, we can improve educational outcomes across our country, said Congresswoman Tenney. 

    “As a former high school teacher, I understand the important role education plays in our children’s future and the importance of charter school options. The High-Quality Charter Schools Act is a critical measure to expand educational opportunity, uphold rigorous accountability, and foster innovation within our public school system. By supporting this legislation, we are investing in a future where all students can access a high-quality education,” said Congressman Kiley. 

    “School choice is the civil rights issue of our time, and our nation’s future will be determined by whether we win the fight to ensure that every child—no matter their ZIP code—has access to high-quality education. The High-Quality Charter Schools Act will help us reach that bright future, with up to $5 billion a year in tax-credit-driven investment that could help open more than 15,000 new charter schools and unlock life-changing opportunities for millions of students across the country,” said Congressman Owens.

    “Charter schools across the country, especially here in New York, are facing demand that far exceeds their capacity. I’m proud to join Rep. Tenney in introducing this legislation to ensure students and families have greater access to the school of their choice—while also ensuring taxpayers see a strong return on investment in public education,” said Congresswoman Malliotakis.

    “This legislation complements the Education Choice for Children Act, which will provide tax credits for contributions for tuition vouchers and which I strongly support,” said Dr. Eva Moskowitz, who leads the New York City network of 57 schools, enrolling 22,000 mostly low-income students of color. “Together, these policies will demonstrate universal school choice as a national priority. Americans overwhelmingly support school choice but many elected officials have been intimidated by those who seek to preserve the broken status quo. I commend Representatives Tenney, Malliotakis, Owens and Kiley for standing up to the special interests and putting America’s parents first. This is what real leadership looks like.” 

    ###

    MIL OSI USA News –

  • MIL-OSI Australia: Executive Committee

    Source: New places to play in Gungahlin

    ATO Executive Committee

    The ATO Executive Committee focuses on the strategic matters that relate to the direction and positioning of the organisation.

    Our Commissioner and Second Commissioners are statutory appointments. The ATO Executive Committee consists of the Commissioner, 3 Second Commissioners and the leads from the operations and technology sections of the ATO.

    For more information about our organisation, see:

    Commissioner and Registrar

    Commissioner of Taxation and Registrar of the Australian Business Register and the Australian Business Registry Services

    Rob Heferen

    Rob Heferen was appointed as the 13th Commissioner of Taxation on 1 March 2024.

    Rob has had a long career in the Australian Public Service, beginning in 1989 as a graduate at the Australian Customs Service. Over 35 years, he’s accumulated diverse experience across policy development and program delivery in a range of portfolios. Rob has represented Australia in international forums including the United Nations (UN), International Energy Agency (IEA) and Organisation for Economic Co-operation and Development (OECD).

    For almost 20 years, Rob’s interest and expertise in economics and tax policy led him to various roles in the ATO and Commonwealth Treasury. This included leading the Secretariat for the Australia’s Future Tax System Review (the Henry Tax Review) and culminated in his role as Deputy Secretary, Revenue Group at the Commonwealth Treasury between 2011–2016. Here he had responsibility for tax policy, tax legislation and revenue forecasting.

    Rob’s other Senior Executive roles include:

    • Chief Executive Officer of the Australian Institute of Health and Welfare
    • Deputy Secretary of Higher Education, Research and International in the Department of Education, Skills and Employment
    • Deputy Secretary of Energy at the Department of the Environment and Energy (where he served as Australia’s representative on the International Energy Agency’s Governing Board)
    • Deputy Secretary of Indigenous Affairs at the Department of Families, Housing, Community Services and Indigenous Affairs.

    Rob is a proven people leader, with an open, collaborative and authentic style. He has a strong record of achievement in leading organisations to help shape and deliver on Government priorities.

    Rob has a Bachelor of Arts (Hons) and Bachelor of Laws from the University of Tasmania, and a Graduate Diploma of Economics from the Australian National University.

    Second Commissioner – Client Engagement

    Jeremy Hirschhorn

    Jeremy Hirschhorn was appointed to the Second Commissioner role from 16 April 2020. He has overall responsibility for the ATO’s Client Engagement Group, which fosters willing participation in Australia’s tax and super systems through well-designed client experiences.

    Jeremy has more than 20 years’ experience in roles managing complex tax matters.

    As Deputy Commissioner of Public Groups & International from April 2015, Jeremy was responsible for ensuring that the largest Australian and multinational companies were meeting their corporate tax obligations and providing the Australian community with confidence that these large companies were being held to account.

    Jeremy also worked as Chief Tax Counsel, with responsibility for the provision of the ATO’s legal advice in relation to interpretation of the tax and super laws, when he joined the ATO in August 2014.

    Prior to joining the ATO, Jeremy was a senior partner in KPMG’s tax practice.

    Jeremy holds a Bachelor of Commerce and Bachelor of Laws from the University of NSW. He is a Chartered Tax Adviser and Chartered Accountant.

    Second Commissioner Frontline Operations

    David Allen

    David Allen was appointed to the Second Commissioner Frontline Operations role from 1 November 2024. In this role, David leads the Frontline Operations Group which is responsible for a broad range of the ATO’s taxpayer services for all segments of the community.

    These include:

    • processing all payments, activity statements, income tax returns, superannuation lodgments and other forms
    • administering the Tax File Number register, Australian Business Register and Director ID Services.

    David joined the ATO in 2010 as an Assistant Commissioner in Public Groups & Internationals – working in Capital Gains Tax risk, Internationals. In 2016, he was the ATO’s delegate to the Organisation for Economic Co-operation Development (OECD) based in Paris.

    In 2018, David was promoted to Deputy Commissioner and established the Enterprise Strategy and Design (ESD) business line – which takes the leadership role in working with business areas to shape the ATO’s strategic direction, risk management, planning and reporting, as well as internal audit and design.

    Prior to joining the ATO, David held senior roles in different tiers of the public service including Commonwealth, United Kingdom, NSW and local government.

    David has a degree in Engineering and a Masters of Business Administration from Australian Graduate School of Management.

    Second Commissioner for Law Design and Practice

    Kirsten Fish

    Kirsten has overall responsibility for the ATO’s law practice, including law interpretation, public advice and guidance, independent dispute prevention, litigation and resolution, and the ATO’s contribution to policy and law design.

    The Law Design and Practice Group serves the community, government and clients by ensuring the tax and super laws are informed, understood, administered and applied with confidence and integrity and is respected and trusted as the authoritative voice of the Commissioner on matters of law and revenue analysis.

    Kirsten joined the ATO in 2014 and the ATO’s Chief Tax Counsel from 2015, one of the highest legal authorities within the ATO, leading the Tax Counsel Network and providing technical leadership in relation to significant tax issues, cases and rulings. Kirsten was acting Second Commissioner for 12 months before being formally appointed to the role in October 2021.

    Prior to joining the ATO, Kirsten was a tax Partner at Clayton Utz with a focus on the financial services industry and providing finance and investment transaction advice.

    Kirsten holds a Bachelor of Commerce (Accounting), Bachelor of Laws (First Class Honours) and Masters of Law (Tax).

    Chief Operating Officer

    Jacqui Curtis

    The Chief Operating Officer (COO) leads the ATO’s Enterprise Strategy and Corporate Operations functions.

    These functions include Strategic Planning, Governance, Finance, Corporate, Risk Management, People, Integrity, Change Management and Design for the organisation. In this role, Jacqui is a member of the ATO Executive, responsible for shaping and setting strategic direction and oversight implementation.

    The COO position gives greater strength and integration to our corporate positioning, and ensures we are well positioned for Australian Public Service (APS)-wide reforms of corporate and shared services, and that our planning, governance and risk management is strategic and sensible. The COO brings together an integrated picture of our people and resource management and ensure we have the right capability and culture to meet our strategic intent.

    This position has a role in managing the relationship with key stakeholders like our scrutineers.

    All of these underpin our ability to deliver on a better client and staff experience. 

    Prior to the COO role, Jacqui joined the ATO in September 2013 as Deputy Commissioner ATO People and was responsible for delivering an enterprise-wide human resource management service which supports ATO employees in providing a sustainable, open and accountable workplace. Jacqui was also responsible for leading the Reinvention Program Management Office and the change management driving this key reform.

    Before joining the ATO, Jacqui was General Manager of the People Capability Division with Services Australia, where she led the department’s leadership and change, people development, workforce planning and research functions. Jacqui has also worked for the Australian Public Service Commission, where she was responsible for delivering integrated people development, SES and APS-wide leadership and talent, change management, strategic recruitment, communications, and learning and development. She also has extensive international experience.

    Jacqui holds an Executive Masters in Public Administration from the Australian National University and is a Fellow of Australian Human Resource Institute, and was appointed Adjunct Professor University of Canberra in 2018.

    In October 2019, Jacqui was appointed the inaugural Head of the APS HR Professional Stream.

    Chief Information Officer

    Mark Sawade

    Mark Sawade was appointed to the Chief Information Officer role from 11 March 2025.

    In this role Mark has overall responsibility for the ATO’s Enterprise Solutions and Technology Group, who work to ensure we maintain a contemporary, secure and reliable technology environment that supports tax, super and registry systems into the future.

    Mark has nearly 25 years’ experience in the Australian Public Service, primarily in Information and Communication Technology (ICT) leadership roles. Preceding his appointment at the ATO, Mark was the Chief Information Officer at the Department of Agriculture, Fisheries and Forestry, where he led and delivered a range of digital transformation initiatives.

    In 2019, Mark led the School Funding and Data Collection division in the Department of Education, where he delivered significant reform that focused on increased use of government data in the calculation of school funding entitlements.

    Mark has also held ICT senior executive leadership roles in a number of public sector agencies, including at the Department of Education, Australian Bureau of Statistics, ComSuper and the Department of Immigration and Border Protection.

    Mark holds a Bachelor of Computer and Information Science from the University of South Australia.

    MIL OSI News –

  • MIL-OSI: First Federal Savings Bank and ICBA: Powering Local Communities with Community Banks

    Source: GlobeNewswire (MIL-OSI)

    EVANSVILLE, Ind., April 11, 2025 (GLOBE NEWSWIRE) — In honor of Community Banking Month in April, First Federal Savings Bank and the Independent Community Bankers of America (ICBA) are highlighting community bank efforts to power local communities and fuel economic prosperity for Americans nationwide.

    “At First Federal Savings Bank, we apply personalized banking solutions and have a positive impact on the community through contributing to vital causes,” Courtney Schmitt, VP, Marketing Manager at First Federal Savings Bank said. “As a financial provider rooted in the community, we help residents reach their financial goals. We invite you to visit our branches and find out how First Federal Savings Bank can support your unique banking needs no matter what stage of the financial journey you are on.”

    Collectively, community banks give more than 60% of all small-business loans and more than 80% of agriculture loans nationwide and contribute tax dollars that help maintain local municipalities. Community banks:

    • Are favored by small businesses, earning an 81% net satisfaction score compared to 68% for large banks, 62% for finance companies, and 48% for online lenders. 
    • Are committed lenders with loan growth that has outpaced noncommunity banks for a decade.
    • Offer high-touch, high-tech service. This gives consumers access to modern-day conveniences and technical capabilities while maintaining the personal service for which community banks are known.
    • Have a track record in helping under-served Americans by providing greater flexibility to low-income and minority borrowers. Community banks serve 93% of majority-minority communities and 96% of low-income designated counties.
    • Give back to their communities. Civic service is a way of life for community bankers as reflected in ICBA’s National Community Bank Service Awards.

    “Community banks cater to the distinct financing needs of their customers as a cornerstone of their business philosophy, which creates satisfied, life-long relationships,” ICBA President and CEO Rebeca Romero Rainey said. “ICBA takes pride in representing these community-centric servants and prioritizes championing their dedication to empower local communities.”

    For more facts about community banks, click here. Follow the ICBA Community Banking Month conversation on social media with the #BankLocally and #CommunityBankingMonth hashtags.

    About First Federal Savings Bank Member FDIC

    First Federal Savings Bank was established on Evansville, Indiana’s Westside in 1904. A community bank offering eight locations in Posey, Vanderburgh, Warrick, and Henderson County. First Federal Savings Bank is also proud to offer Home Building Savings Bank locations in Daviess and Pike County.

    About ICBA

    The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.

    As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.

    The MIL Network –

  • MIL-OSI Africa: Chris Hani remembered as a martyr whose sacrifice shaped South African democracy

    Source: South Africa News Agency

    Deputy President Paul Mashatile has hailed the late Chris Hani as a revolutionary leader and a revered freedom fighter, whose assassination in April 1993 marked a pivotal moment in South Africa’s transition to democracy.  

    Delivering the keynote address at the 32nd anniversary of Hani’s assassination commemorative event, held in Sabalele Village, Cofimvaba – Hani’s birthplace in the Eastern Cape, Mashatile reflected on Hani’s legacy and the sacrifices he made for South Africa’s democracy. 

    Hani, the former Chief of Staff of Umkhonto weSizwe, was gunned down outside his home in Dawn Park, Boksburg, by radical right-wing Polish immigrant Janusz Waluś, who was released on parole in 2022. 

    Despite attempts by his killers to incite civil war, the Deputy President said Hani’s death united the nation in its pursuit of freedom, culminating in the country’s first non-racial elections on 27 April 1994. 

    “Today, the world has come to know Martin Thembisile as Chris Hani, a revolutionary, a commissar, a leader, a parent, a husband, and a martyr, whose blood and sacrifices cleared the way to the 1994 historic political breakthrough,” he said on Thursday. 

    The Deputy President highlighted Hani’s contributions to the armed struggle, his leadership in the Umkhonto Wesizwe Liberation Movement, and his unwavering commitment to justice and equality. 

    He praised Hani’s bravery, recounting his role in the Luthuli Detachment, where he led soldiers across the crocodile-infested Zambezi River and struck fear into the apartheid regime. 

    Mashatile also emphasised Hani’s vision for a better South Africa, rooted in principles of social justice.  

    “We must never allow the rhetoric which suggests that democracy is the worst form of government, and that apartheid was better than a democratic state. 

    “Nor must we allow some of us as beneficiaries of this huge sacrifice of many fallen martyrs, like Chris Hani, to discredit democracy through shameful deeds like corruption, stealing from the State and the poor, killing for positions, and fighting to access positions for selfish interests.”

    The country’s second-in-command said Hani believed that societal progress should focus on providing basic needs, such as shelter, water, healthcare, and education rather than abstract theories.  

    “Our reality is that we are not exactly where Chris Hani would have liked us to be as a nation,” Mashatile admitted, pointing to persistent poverty, underdevelopment, and inequality in former homeland areas. 

    The Deputy President used his platform to call for urgent action to address issues, such as gender-based violence (GBV), unemployment, and corruption, which he said undermine the sacrifices of struggle heroes like Hani.  

    He urged South Africans to work together to build a more equitable society and economy, while also diversifying trade partnerships to reduce dependence on specific markets. 

    Mashatile announced plans to elevate the annual commemoration of Hani to a national event, focusing on development, heritage, and the values Hani stood for. 

    This year’s initiatives include the construction of a sports facility at a local school in Sabalele and the repatriation and reburial of liberation combatants. 

    “Chris Hani did not die in vain. We must honour his name not only with words but with work, compassion, and bold, urgent action. Let this moment remind us that the struggle is not over,” Mashatile stressed. 

    The commemoration served as a call to action for South Africans to continue fighting corruption, underdevelopment, and inequality and to build a nation that reflects the vision of heroes like Chris Hani. 

    Government of National Unity

    The Deputy President also used his platform to touch on the Government of National Unity (GNU) in South Africa, which faces several challenges. 

    The GNU comprises 10 political parties, each with differing perspectives on various issues, the diversity of which, he said, can lead to disagreements and difficulties in reaching consensus.

    “What we need to understand about the GNU is that we may have different views on issues, but once an agreement has been reached, we must all speak with one voice. This was also the case with Chris Hani; he had a strong view about the armed struggle, and when the ANC was prepared to engage in negotiations, the leadership decided to drop it, which he opposed.” 

    The Deputy President said effective governance in the GNU requires balancing individual viewpoints with collective decision-making. – SAnews.gov.za
     

    MIL OSI Africa –

  • MIL-OSI Africa: Review of White Paper on Local Government published for discussion

    Source: South Africa News Agency

    The Minister of Cooperative Governance and Traditional Affairs (CoGTA), Velenkosini Hlabisa, has officially published a discussion document on the Review of the 1998 White Paper on Local Government. 

    According to the department, this represents a significant and necessary step towards creating a reimagined and results-oriented local government system in South Africa.

    This document, published under Notice No. 6118 (Gazette: 52498) on Thursday, initiates a national discussion aimed at producing a revised White Paper on Local Government by March 2026.

    According to the department, the review aims to incite fresh thinking, honest reflection, and decisive action toward building a fit-for-purpose local government system that truly serves the people of South Africa.

    “This process is not about tweaking the symptoms. It is about confronting the root causes of dysfunction in local governance. We need to ask the hard questions, and more importantly, we need to answer them with the courage to act,” Hlabisa explained. 

    He noted that the discussion document emphasises the interconnectedness and indivisibility of the four essential components of an effective local government system.

    These include governance, institutional arrangements, service delivery and infrastructure, and financial arrangements.

    In addition, the document aims to assess and revise outdated assumptions of the1998 White Paper on Local Government and strengthen cooperative governance among the three spheres of government. 

    The initiative aims to align reforms with related efforts, including amendments to the Municipal Finance Management Act (MFMA), the Municipal Structures Act, and the Spatial Planning and Land Use Management Act (SPLUMA). 

    It also seeks to enhance integration with traditional leadership, improve community participation, and address systemic challenges, such as municipal financial sustainability, over-politicisation, climate risk, and spatial inequality.

    The Minister invites all South Africans, including civic organisations, academics, municipalities, and other arms of government, to participate in the consultation process.

    The public participation is open until 30 June 2025. 

    Submissions must be made in writing and can be emailed to WPLG26@cogta.gov.za; RichardP@cogta.gov.za and MaphutiL@cogta.gov.za  

    Alternatively, comments may be submitted by post: 
    Minister of Cooperative Governance and Traditional Affairs
    Attention: Mr. Thabiso Richard Plank (WPLG26 Policy Review)
    Private Bag X802, Pretoria, 0001

    Physical Address:
    87 Hamilton Street, Arcadia, Pretoria  

    For access to the full discussion document and more information, visit: https://www.cogta.gov.za/index.php/docs/white-paper-on-local-government-1998-review-of-the-white-paper-on-local-government/. – SAnews.gov.za
     
     

    MIL OSI Africa –

  • MIL-OSI Africa: Plans afoot to revitalise Durban’s inner-city precinct

    Source: South Africa News Agency

    The eThekwini Municipality has rolled out an ambitious project to revitalise the inner-city precinct.

    This as the city increased capacity to achieve its ambitious plan to rejuvenate the inner-city precinct and deliver a safer, cleaner, and greener Durban.

    Plans for the rejuvenation are moving swiftly, and the programme involves a comprehensive range of services designed to revitalise the heart of the city. These include the deployment of professional security teams, armed patrol units, and rapid-response squads.

    Complementing these efforts is a team of dedicated street ambassadors that will be introduced to monitor and maintain cleanliness in designated areas, while acting as community liaisons, by reporting suspicious activities directly to a local command centre.

    City Manager, Musa Mbhele, said the introduction of street ambassadors will bring a visible and welcoming presence to the streets of Durban, while the enhanced security measures, will provide peace of mind to residents and businesses operating in the area.
    The enhanced security measures include armed patrols and a coordinated command centre.

    Mbhele said the landmark initiative marks a significant step forward in enhancing the quality of residents’ lives, including businesses, and visitors, while boosting the local economy through the creation of over 100 new jobs.

    “This project is a game-changer for eThekwini. By combining enhanced security measures with proactive facilities management, we are not only addressing immediate safety and cleanliness concerns, but also laying the foundation for a vibrant and sustainable inner-city precinct that residents can take pride in.

    “We are confident that these efforts will have a profound impact on the revitalisation of the Durban inner city, contributing to its transformation into a more attractive, secure, and economically vibrant area,” Mbhele said of the KwaZulu-Natal municipality.

    The initiative aligns with the city’s broader vision to regenerate urban spaces, stimulate economic growth, and improve public safety.

    He highlighted that with over 100 jobs created through this initiative, the project represents a significant investment in the local workforce, empowering communities and fostering economic resilience.

    “[The] eThekwini Municipality is committed to working closely with its partners to ensure the successful implementation of this project, which is expected to serve as a model for urban renewal efforts across the region.” – SAnews.gov.za
     

    MIL OSI Africa –

  • MIL-OSI USA: Kamlager-Dove, Bipartisan Group of Lawmakers Introduce Bicameral Legislation to Help Children Find Permanent Families via Adoption

    Source: United States House of Representatives – Congresswoman Sydney Kamlager California (37th District)

    The bill helps more children join permanent, loving families by removing income as a barrier to adoption.

    WASHINGTON, DC — On Thursday, Congresswoman Sydney Kamlager-Dove (D, CA-37) introduced the bipartisan, bicameral Adoption Tax Credit Refundability Act of 2025 alongside Representatives Robert Aderholt (R, AL-04), Don Bacon (R, NE-02), Danny K. Davis (D, IL-07), Randy Feenstra (R, IA-04), Blake Moore (R, UT-01), and Gwen Moore (D, WI-04). The legislation would help children find permanent, loving families by removing income as a barrier to adoption. Senators Kevin Cramer (R-ND) and Amy Klobuchar (D-MN) will introduce companion legislation in the Senate. 

    The Adoption Tax Credit helps families offset some of the costs of adoption, especially for children with special needs. Currently, the tax credit disadvantages low- and middle-income families, in particular families with annual incomes between $30,000 to $50,000.  This inequity is problematic given that approximately half of youth adopted from foster care live in families with incomes at or below 200 percent of the federal poverty level; thus, the credit inadvertently creates barriers to permanency for a substantial number of families.  During the Great Recession, Congress allowed families to receive the Adoption Tax Credit if the credit exceeded their tax liability recognizing that the economic hardship could prevent families from adopting or exact a heavy financial toll from families choosing adoption.  The Adoption Tax Credit Refundability Act of 2025 would again make this credit refundable to remove income as a barrier to adoption to help more children join permanent, loving families.

    “As a Co-Chair of the Foster Youth Caucus, I am proud to co-lead the reintroduction of the bipartisan Adoption Tax Credit Refundability Act with my colleagues,” said Rep. Sydney Kamlager-Dove. “Each and every one of our foster youth deserves to have a loving home, and reducing the financial barriers to adoption for low and middle-income families will help ensure this reality. We need more commonsense efforts like this to reform our care system and improve outcomes for families and children.”

    “The Adoption Tax Credit Refundability Act reflects common-sense federal policy,” said Rep. Davis. “It strengthens families, removes income as a barrier to adoption, and helps vulnerable children join permanent, loving families.  Former foster youth represent the majority of children adopted by families earning less than 200 percent of the poverty level.  This bill will make a critical difference in the ability of lower and middle-income families to adopt. I am proud to work across the aisle to improve the Adoption Tax Credit to better help more children and families benefit.”

    “Even before joining Congress, I have been committed to supporting and engaging with the adoption community in Utah,” said Rep. Blake Moore (UT). “In learning more about their priorities and challenges, it is clear that many families cannot adopt due to financial barriers. I am proud to co-lead the Adoption Tax Credit Refundability Act as we seek to alleviate these hurdles. This bipartisan bill will make the adoption tax credit fully refundable so that low- and middle-income families can receive the full value of the credit, making it easier for them to open their homes to children in need of forever families.”

    “This bipartisan legislation can offer support that helps transform the lives of countless children and families,” said Rep. Gwen Moore (WI). “By permanently reinstating the refundability of the Adoption Tax Credit, we help lower financial barriers to placing children in loving families permanently and we also ensure that more families, including low and middle-income families, can fully benefit from this credit. With this bill, we can pave the way for more children who have already suffered much to find permanent homes. I am honored to partner with my colleagues, including my fellow-cochairs on the Congressional Caucus on Foster Youth.”

    “As a father of four, I believe that every child deserves a loving home and that we should encourage families to adopt. That means that Iowans who want to adopt but do not have the financial resources to do so should not be prevented from making additions to their families – they should be supported,” said Rep. Feenstra. “I’m glad to work with a bipartisan group of my colleagues to make the Adoption Tax Credit fully refundable so that families can adopt without facing costly financial barriers. To keep our communities strong, we need to invest in our families and help every child find a permanent, loving home.”

    “For years, income has become a roadblock for many families wishing to adopt,” said Rep. Bacon. “As co-chair of the Foster Youth Caucus and an adoptive parent myself, I understand the need to remove this barrier by offsetting these burdensome costs. By making the adoption tax credit fully refundable, this bill makes it easier for families to adopt and gives our nation’s youth a safe, loving, and permanent home. I thank my co-leads for their partnership on this common-sense, bipartisan legislation that is desperately needed today.”

    “Every child deserves the chance to grow up in a loving, permanent home,” said Rep. Aderholt. “One of the biggest concerns I hear from adoptive parents is the high cost of adoption, which can be overwhelming and discouraging. The Adoption Tax Credit Refundability Act helps make adoption more accessible by easing the financial barriers that too often stand in the way. I’m proud to support this bipartisan effort to ensure more families can say yes to adoption and more children can find the forever homes they deserve.”

    “Adoption is a true joy for families, but it is not without significant financial cost,” said Senator Cramer. “Our bill will make the credit refundable to help all adoptive families access the full amount of the adoption tax credit, regardless of their tax burden. Support for adoptive families is essential to ensure more children find the stable, loving home they deserve.”

    “Minnesotans have a long and proud tradition of adoption to welcome children into safe and loving homes,” said Senator Amy Klobuchar. “Our bipartisan legislation will allow more families to access the full adoption tax credit, helping ensure a smooth and successful transition for children and families. As co-chair of the Congressional Coalition on Adoption, I’ll keep working to improve the adoption process and help every child find the permanent home they deserve.”

    The Adoption Tax Credit Refundability Act of 2025 is supported by 98 state, local and national organizations, including:  Academy of Adoption and Assisted Reproduction Attorneys; Child Welfare League of America; Congressional Coalition on Adoption Institute (Secretariat of the Adoption Tax Credit Working Group); Dave Thomas Foundation for Adoption; Families Rising; Generations United; Jewish Children’s Adoption Network; Lutheran Child and Family Services of Illinois; National Council for Adoption; National Foster Parent Association; United States Conference of Catholic Bishops; the Voice for Adoption; and Youth Villages.

     

    Academy of Adoption and Assisted Reproduction Attorneys

    “Restoring refundability to the Adoption Tax Credit will help more families welcome children into loving homes and help secure their futures,” said Deb Guston, Adoption Policy Director of the Academy of Adoption and Assisted Reproduction Attorneys (AAAA). “We applaud the leadership of our Adoption Tax Credit champions in Congress in reintroducing legislation on this important issue for children and families.”

     

    Congressional Coalition on Adoption Institute

    “CCAI is proud to serve as the secretariat of the Adoption Tax Credit Working Group, a national coalition of nearly 100 organizations committed to making adoption more accessible,” said Kate McLean, Executive Director of CCAI. “As the nonprofit partner of the bipartisan, bicameral Adoption Caucus, we’re grateful for the leadership of Caucus Members, especially Co-Chairs Robert Aderholt, Kevin Cramer, Danny K. Davis, and Amy Klobuchar as well as Sen. Ben Ray Luján and Reps. Blake Moore and Don Bacon, in advancing adoption tax credit refundability and helping remove barriers to permanency.”

     

    Families Rising

    “This bipartisan legislation stands as a beacon of hope, leveling the playing field and extending a helping hand to lower-income families on par with their middle-income counterparts. It champions the cause of permanency for children transitioning out of the foster care system, enabling them to find loving homes through adoption,” said Ligia Cushman, Chief Executive Officer of Families Rising. “This transformative legislation addresses the stark reality faced by numerous children adopted from foster care. With the introduction of this legislation, a bright and promising future becomes possible for these vulnerable children, as their families are granted the opportunity to access what they need to thrive.”

     

    National Council For Adoption

    “We are grateful for the bipartisan leadership in making the adoption tax credit available to more families,” said Ryan Hanlon, president and CEO of National Council For Adoption. “The cost of adoption should never be a barrier for children to find permanent, loving families, and this legislation ensures we support all families, including lower-income families.”

     

    Voice for Adoption

    “Many children adopted from foster care are adopted by families at or near the poverty line and they receive little or no assistance under the current tax credit,” said Patrick Lester, Executive Director of Voice for Adoption. “This bipartisan legislation will make adoption possible for many more vulnerable children who need a permanent place to call home.”

     

    A copy of the Adoption Tax Credit Refundability Act is here; a summary of the bill is here.

     

    ###

    Representatives Davis (IL), Moore (UT), Moore (WI), and Feenstra (IA) are Members of the House Ways and Means Committee with broad jurisdiction over Federal revenue measures.  Representatives Bacon (NE), Kamlager-Dove (CA), and Moore (WI)  are co-chairs of the Congressional Caucus on Foster Youth.  Representatives Adherholt and Davis as well as Senators Cramer and Klobuchar co-chair the Congressional Coalition on Adoption.

    MIL OSI USA News –

  • MIL-OSI Global: Good Night, and Good Luck: why AP’s battle for press freedom echoes the theme of George Clooney’s new play

    Source: The Conversation – UK – By Colleen Murrell, Chair of the Editorial Board, and Full Professor in Journalism, Dublin City University

    George Clooney’s role as a veteran TV reporter in the play Good Night, and Good Luck has received general acclaim after the play opened on Broadway last week. A New York Times review proclaimed that it “makes Edward Murrow a saint of sane journalism for a world that still needs one”.

    This theatre production is an adaptation of Clooney and Grant Heslov’s 2005 film of the same name, and it takes the audience back to the 1950s when CBS News journalist Edward Murrow took on populist and high-profile senator, Joseph McCarthy.

    McCarthy had become an influential and feared figure after holding a series of public hearings where people were charged, often on very little evidence, of being communists and infiltrating government departments.

    Many people lost their jobs, and journalists and academics were often targeted. Murrow’s programmes showcased spurious cases of overreach, which earned him McCarthy’s wrath. This courageous TV journalism exposed McCarthy’s methods and helped bring about the senator’s eventual downfall.

    It is impossible not to see the parallels with the current parlous state of press freedom in the US. A week before the play opened, Clooney was interviewed on CBS News and said: “When the other three estates fail, when the judiciary and the executive and the legislative branches fail us, the fourth estate has to succeed.”

    And this feels highly significant as earlier this week a federal judge issued an injunction against a decision by Donald Trump’s government which effectively restricted a news organisation’s ability to operate. Judge Trevor McFadden, a Trump appointee, said that a news organisation (Associated Press) could not be punished for its editorial decisions.

    He declared: “Under the First Amendment, if the Government opens its doors to some journalists – be it the Oval Office, the East Room or elsewhere – it cannot then shut those doors to other journalists because of their viewpoints.” However, the government has already announced it is appealing McFadden’s ruling.

    Ed Murrow’s famous newscast on Joseph McCarthy.

    AP has been barred from the Oval Office and the presidential aircraft Air Force One since February 11, after it said it would continue to use the geographical locator the “Gulf of Mexico” rather than accede to Trump’s executive order that it be renamed the “Gulf of America”. But this was always about more than the Gulf of Mexico, it was about the right for media organisations to choose their own words and content.

    AP then attempted to overturn the exclusion order through an injunction. McFadden initially held off granting this injunction, and a further hearing on March 27 resulted in lengthy testimony from AP staff about the financial and editorial costs caused by its lack of access to the White House.

    Some newspaper coverage is hailing the granting of this injunction as a major victory for media freedom, with the Guardian, in words that echo Edward Murrow, proposing that “standing up for one’s principles may not be just a gesture made in vain”.

    And yet this remains just a temporary injunction and the full court case in which AP is suing three senior members of the White House: press Secretary Karoline Leavitt, chief of staff Susie Wiles and deputy chief of staff Taylor Budowich has yet to play out.

    Judge McFadden even sounded a note of caution regarding his ruling: “It does not bestow special treatment upon the AP. Indeed the AP is not necessarily entitled to the ‘first in line every time’ permanent press pool access it enjoyed under the White House Correspondents’ Association. But it cannot be treated worse than its peer wire services either.”

    Rising challenge for journalism

    Pressures on journalists have definitely ramped up in the past few months. During the hearing on March 27, AP’s White House correspondent Zeke Miller claimed that he had noticed a new “softening of tone and tenor” of the questions posed to the president and was surprised by the increase in off-topic questions at the expense of topical “news of the day” questions.

    George Clooney at the launch of the new Broadway play Good Night, and Good Luck.

    There certainly appears to be an increased number of what Australians call “Dorothy Dixer” questions, where friendly politicians or journalists ask soft questions of the government or questions designed to distract from the difficult news of the day.

    And it is clear that journalists who are considered friendly are getting priority treatment. When Brian Glenn, chief White House correspondent for the cable network Real America’s Voice, was chosen to ask a question of Ukrainian president Volodymyr Zelensky in the now-infamous White House conference on February 28, he served up a question about why the Ukrainian leader was not wearing a suit.

    A query that just happened to be very helpful to the tone that Trump wanted to create in that meeting. A seasoned AP journalist would never have asked such a bizarre and unnecessary question.

    Questions about press freedom will be tackled next at a forum organised by the Columbia Journalism School and the New York Times later this month. The forum, The Fight for Global Press Freedom, proposes that “press freedom stands at a historic crossroads”.

    Holding this forum shows courage in the wake of Columbia University potentially losing federal funding to the tune of US$400 million dollars (£305 milllion). Federal government administrators claim this was in response to pro-Palestinian protests and “the school’s failure to protect Jewish students from discrimination”. Negotiations between the university and funders are ongoing.

    As the world’s trade negotiators, university administrators and journalists decide whether or not to hold the line and stand up to a bullying president, perhaps the words of Edward Murrow might hold the key. In 1954 McCarthy attacked Murrow, accusing him incorrectly of communist sympathies.

    In his reply, Murrow argued that in so doing McCarthy had “proved again that anyone who exposes him, anyone who does not share his historical disregard for decency and human dignity and the rights guaranteed by the constitution must be either a communist or a fellow traveller”.

    AP’s fight back against its White House ban and its consequent chilling effect on media freedom could be the start of a new era of standing up to Trump, and damn the consequences. Let’s hope it’s not just the dying refrain of a once powerful not-for-profit legacy media organisation.

    Colleen Murrell received funding from Irish regulator Coimisiún na Meán (2021-4) for research for the annual Reuters Digital News Report Ireland.

    – ref. Good Night, and Good Luck: why AP’s battle for press freedom echoes the theme of George Clooney’s new play – https://theconversation.com/good-night-and-good-luck-why-aps-battle-for-press-freedom-echoes-the-theme-of-george-clooneys-new-play-254136

    MIL OSI – Global Reports –

  • MIL-OSI Global: Jitters in the US bond market look like the main reason Trump hit pause on higher tariffs

    Source: The Conversation – UK – By Alex Dryden, PhD Student in Economics, Department of Economics, SOAS, University of London

    Bond markets don’t often make front-page news but the recent sharp sell-off in US Treasuries appears to have been enough to prompt US president Donald Trump to pause his plans for new tariffs.

    Traditionally, US Treasuries are seen as one of the world’s safest assets for investors. The United States government has long been regarded as a reliable and responsible borrower. That reputation has allowed the US to borrow at low costs for decades.

    But the turbulence triggered by Trump’s “liberation day” tariff announcement caused wild swings in the US government’s borrowing costs. While some form of trade restrictions were anticipated, the scale and scope of the measures surprised markets and rattled bond investors.

    The yield on the 30-year US Treasury, which moves inversely to the bond’s price, rose 60 basis points, to above 5%, following the tariff announcement. Rising yields for governments effectively mean they pay more interest on their debt. For the US, this was one of the largest moves within a single week since 1981, when the Federal Reserve (the Fed) implemented sharp interest rate hikes to combat inflation.

    The volatility of bond markets and nervousness among investors seems to have been the catalyst for encouraging Trump to pause the higher tariffs for 90 days. Trump himself remarked that bond markets had become “a little bit yippy”.

    So what exactly spooked them? Several forces seem to have combined to drive this sudden shift in sentiment.

    First, bond prices are highly sensitive to inflation expectations. The introduction of broad-based tariffs was widely seen as inflationary. Both the tariffs and the threat of retaliatory measures from trading partners risked pushing up prices on everything from groceries to electronics.

    The possibility of rising inflation pushed bond prices down, because inflation makes the fixed-interest payments from bonds less valuable over time.

    Second, like any financial asset, bond prices are sensitive to investor demand. There are growing concerns that US Treasuries could face a “buyers’ strike” – a scenario where escalating trade tensions and geopolitical uncertainty make investors wary of holding American debt.

    Instead, many are turning to politically neutral safe havens like gold and other precious metals. There are also signs that foreign buyers, particularly from Asia and the Middle East, are pulling back from US debt, a shift that could further weaken demand and raise government borrowing costs even more.

    Finally, the actions (or perhaps more accurately, the inaction) of the Fed also helped to drag bond prices lower. During previous bouts of extreme market volatility, like in March 2020 at the onset of COVID lockdowns in the US, the Fed stepped in with a raft of measures designed to calm markets.

    But this time, with inflation still running above the Fed’s 2% target, its options were far more limited. Any attempt to support bond markets risked fuelling inflation. The Fed’s silence this time around offered little reassurance to bond investors, who have come to expect soothing interventions during times of stress.

    The nerves are here to stay

    Bond market volatility is unlikely to be a one-off event. Instead, it may be a sign of deeper, more persistent worry among investors over the US fiscal outlook.

    For years, the US has been able to borrow cheaply, even as its national debt climbed, because investors saw Treasuries as safe, reliable and backed by a strong and stable economy. Demand was so steady that interest rates stayed low, allowing the government to finance large deficits without much fuss.

    But erratic policy and large fiscal giveaways such as unfunded tax cuts and politically motivated spending increases like massive increases to military spending, mean that confidence is starting to fray. US federal debt currently stands at 100% of GDP and experts expect that figure to rise to 118% over the next decade. This is greater than at any point in the nation’s history.

    What’s more, these forecasts do not yet reflect the budget framework passed by the Senate in early April, which aims at extending and expanding tax cuts introduced in 2017. Senate estimates suggest that these measures will cost an additional US$1.5 trillion (£1.15 trillion) over the next decade.

    However, the nonpartisan Committee for a Responsible Federal Budget (CRFB), projects that the plan could increase the national debt by US$5.8 trillion over the same period.

    Rapidly rising debt levels, combined with higher borrowing costs, are placing increasing pressure on the government’s budget. According to CRFB figures, interest payments have nearly tripled since 2020, rising from US$345 billion to US$949 billion in the 2024 fiscal year.

    It’s this kind of fiscal strain, and the bond market’s reaction to it, that is widely believed to have made Trump jittery enough to pause the latest round of tariffs.

    Debt servicing costs now absorb around 14% of the federal budget, making it the second-largest expense after social security payments. These costs exceed national defence and Medicaid spending.

    The US has long benefited from being able to borrow at a low interest rate, thanks to strong demand for its bonds. However, growing economic uncertainty and a worsening fiscal position mean that bond markets are likely to be more volatile and less forgiving going forward than they have been in the past.

    If Trump remains wedded to tariffs as a key policy tool, this episode has given a clear sense of how bond markets might respond. The pursuit of policies that unsettle inflation expectations or deepen fiscal concerns will likely come at a high price for reckless governments.

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

    – ref. Jitters in the US bond market look like the main reason Trump hit pause on higher tariffs – https://theconversation.com/jitters-in-the-us-bond-market-look-like-the-main-reason-trump-hit-pause-on-higher-tariffs-254410

    MIL OSI – Global Reports –

  • MIL-OSI USA: Bergman, GOP Colleagues, to Pritzker: Stop the Partisan Games – Protect our Great Lakes from Asian Carp

    Source: United States House of Representatives – Congressman Jack Bergman (MI-1)

    Rep. Jack Bergman, joined by Michigan GOP colleagues Rep. John Moolenaar, Rep. Tim Walberg, and Rep. John James sent a letter to Illinois Governor J.B. Pritzker calling for him to reverse course on a recent politically charged decision that would jeopardize efforts to keep invasive Asian Carp out of the Great Lakes. The letter highlights that the delay is both unjustified and dangerous to the continued health of our Great Lakes.

    Recently, Illinois Gov. JB Pritzker halted the Brandon Road Interbasin Project – a critical piece of infrastructure being built to prevent invasive carp from migrating from the Mississippi River basin into Lake Michigan.

    In a hard-hitting letter to Pritzker, the Members of Congress noted, “We write to express our profound dismay at your decision to unilaterally suspend Construction Increment IA of the Brandon Road Interbasin Project (BRIP), administered by the U.S. Army Corps of Engineers (USACE), Rock Island District. As you know, the Brandon Road Lock and Dam near Joliet, Illinois, has been identified as the critical chokepoint for preventing the upstream movement of invasive carp and other nuisance species from the Mississippi River basin into the Great Lakes through the Illinois Waterway. This unnecessary and unfounded obstruction trades responsible governance for partisan grandstanding, putting our Great Lakes, economy, and communities at needless risk.”

    Additionally, the Members noted that Pritzker’s move reflected either a “fundamental misunderstanding or a deliberate disregard” of longstanding federal financial law.

    You can read the full letter here or below:

    Governor Pritzker:

    We write to express our profound dismay at your decision to unilaterally suspend Construction Increment IA of the Brandon Road Interbasin Project (BRIP), administered by the U.S. Army Corps of Engineers (USACE), Rock Island District. As you know, the Brandon Road Lock and Dam near Joliet, Illinois, has been identified as the critical chokepoint for preventing the upstream movement of invasive carp and other nuisance species from the Mississippi River basin into the Great Lakes through the Illinois Waterway. This unnecessary and unfounded obstruction trades responsible governance for partisan grandstanding, putting our Great Lakes, economy, and communities at needless risk.

    On February 10, 2025, the Illinois Department of Natural Resources notified USACE that the State would be postponing the real estate closing agreement required for USACE to commence work on Construction Increment IA. Citing an “anticipated lack of federal funding for the Brandon Road Project,” the State has demanded assurances from the federal government that the funds allocated to BRIP through Pub. L. 117-58 will remain available.

    This demand reflects either a fundamental misunderstanding or a deliberate disregard of longstanding federal financial law. Under 31 U.S.C. § 1501, federal funds can only be considered obligated – and thus legally bound for their designated purpose – once a formal commitment, such as a contract, is executed by an agency.2 However, USACE cannot take this step until the State of Illinois finalizes the real estate closing agreement – a prerequisite that your office is deliberately delaying. As a result, the very funds you claim to be protecting with the pause remain unobligated and at risk of rescission or reprogramming by Congress – an authority that has long rested with Congress concerning unobligated funds still at the U.S. Treasury.

    Of course, you would recognize this if your decision to pause the project were not driven by partisan motives. In a February 7, 2025, memorandum shared with your office, USACE confirmed that $100 million in federal funds was available for the scheduled February 17, 2025, start of Construction Increment IA. Yet, the designated funds now hang in the balance over your insistence on receiving assurances from the Trump administration – assurances that are entirely unnecessary. The reality is that your office has the authority to finalize the real estate closing agreement and allow USACE to proceed, making your delay both unjustified and dangerous to the continued health of our Great Lakes.

    The commercial, recreational, and tribal fisheries of the Great Lakes generate between $5 and $7 billion annually for the economies of the United States and Canada, supporting more than 75,000 jobs.3 These waters sustain a world-class fishery built on native and naturalized species like whitefish, salmon, and lake trout – species that would be devastated by the spread of invasive carp from the Illinois Waterway. Allowing their introduction would be an irreversible economic and ecological disaster, jeopardizing industries, livelihoods, and entire communities that depend on the Great Lakes.

    Safeguarding our lakes demands strong leadership that prioritizes responsible action over political posturing. Years of strategic planning and bipartisan collaboration between USACE Rock Island District and the States of Illinois and Michigan have brought us to the threshold of a historic preservation victory for our region’s economy and environment. Your obstruction not only undermines this progress but signals a reckless disregard for the long-term health of the Great Lakes and the millions of people who rely on them. We urge you, in the strongest terms possible, to abandon this self-serving interest, finalize the real estate closing agreement, and allow USACE to move forward with BRIP without further delay. The Great Lakes – and the future of those who depend on them – deserve nothing less.

    MIL OSI USA News –

  • MIL-OSI USA: Strong Introduces Legislation to Study Viability of Growing Winter Canola

    Source: United States House of Representatives – Representative Dale Strong (Alabama)

    WASHINGTON—Today, Congressman Dale W. Strong (R-AL), alongside his colleagues Congressmen David Kustoff (R-TN) and Tracey Mann (R-KS), introduced the Winter Canola Study Act. This legislation would direct the United States Department of Agriculture (USDA) Risk Management Agency (RMA) to study the gap in crop insurance coverage for double-crop grown winter oilseeds, such as canola.  

    Additionally, the bill recognizes the economic and environmental benefits of double-crop grown canola and emphasizes the importance of investing in these oilseeds to provide a more robust market for our farmers, effectively boosting rural communities, creating jobs, and strengthening our energy security. 

    “The Winter Canola Study Act would give North Alabama farmers crucial new information and broaden the opportunity to plant winter canola as an alternative double crop option,” said Congressman Strong. “I am proud to work on behalf of farmers by joining Representative Kustoff and my colleagues in introducing this legislation. This research would help create a more competitive market for farmers while supporting the hard work they do to provide our food, fiber, and fuel.” 

    “America’s farmers keep our economy going by putting food on the shelves and fuel in our tanks,” said Congressman Kustoff. “By allowing our farmers to plant winter canola in the off season, the Winter Canola Study Act will expand opportunities for growers and producers across the nation.” 

    “Harnessing the potential of American-grown commodities like winter oilseed supports the entire agriculture and energy supply from grower to consumer,” said Congressman Mann. “I am proud to join my colleagues in introducing this legislation to help facilitate the growth of energy-abundant and sustainable fuel feedstocks by supporting access to risk management tools, research into yield improvements, and the environmental benefits of new crop rotations.” 

    ### 
      

    Click here for the full text of the bill. 

    MIL OSI USA News –

  • MIL-OSI USA: Raising A Glass to Craft Breweries

    Source: US State of New York

    overnor Kathy Hochul today celebrated April 11 as the inaugural New York Craft Beer Day in New York State. New York is the second largest craft beer market in the U.S. and has more than 500 independent craft breweries that support 22,000 jobs and generate a $4.8 billion economic impact across the state.

    “Today, we raise a glass to more than 500 craft breweries across New York — small businesses that pour $4.8 billion into our economy and flavor into our communities,” Governor Hochul said. “On this Craft Brewers Day, let’s toast their creativity, their grit and their impact. And remember — if you’re going to celebrate, celebrate responsibly. Cheers!”

    The Governor made this announcement at the recent New York State Craft Brewers Association Conference and competition in Albany where she awarded the 2025 Governor’s Excelsior Craft Beer Cup to Brooklyn’s Grimm Artisanal Ales for their Grimm Weisse wheat beer. A full list of winners can be found here.

    To commemorate New York Craft Beer Day, patrons can download the free Official New York State Craft Beer App, created by the NYS Brewers Association, to find local breweries and is the only app that offers a map of every brewery in the state. To commemorate Craft Beer Day, customers can earn the exclusive “Inaugural New York Craft Beer Day Badge” with any passport stamp on Friday, April 11th.

    Governor Hochul’s Support for Craft Producers

    In 2023, Governor Hochul signed legislation providing breweries the option to renew their licenses every three years instead of annually, saving brewers $800 — or about 30 percent — in fees over three years. This change not only lowers costs but also reduces paperwork, allowing brewers to spend less time on administrative tasks and more time focusing on their craft and growing their businesses.

    Additionally, recognizing the importance of helping craft producers open quickly, Governor Hochul signed legislation that went into effect in 2022 creating new temporary permits for all craft beverage manufacturers — including breweries. For the first time, manufacturers can now begin operating while their full liquor license is pending. These permits, which cost $125 and are valid for six months, allow new producers to begin manufacturing and selling alcoholic beverages while they await final approval. Temporary permits are generally processed in under 30 days, compared to the average six-month timeline for full licenses — significantly accelerating the launch of new craft beverage businesses across the state.

    Continuing to build on New York State’s push to modernize outdated Prohibition alcohol laws, in 2024, Governor Hochul signed landmark legislation that allowed New York’s small craft manufacturers of spirits, cider and mead to ship directly to consumers. The law opens significant opportunities for the state’s growing craft beverage industry by providing a vital market expansion tool — allowing these producers to ship their unique products directly to consumers within New York and across state lines.

    The craft beverage industry also provides a boost to New York agriculture as New York State has seen increased interest in locally produced craft beverages in recent years. This interest in locally produced beverages has increased demand for locally sourced ingredients. To continue to support the research needed to develop crop varietals of hops and barley that are disease resistant and can adapt to the climate in the northeast, the 2024-25 NYS Budget included more than $650,000 in funding to Cornell for the Geneva Barley program and the hops breeding program.

    State Agriculture Commissioner Richard A. Ball said, “New York’s world-class craft brewers are reflective of New York’s long legacy in the craft brewery industry, committed to making the finest beers, using the very best ingredients, including those straight from the farm. I thank Governor Hochul for declaring today Craft Beer Day here in New York State; this celebration provides us all an awesome opportunity to recognize our brewers and their contributions to our local economies, from supporting jobs and tourism to boosting growth in the agricultural industry.”

    State Liquor Authority Chair Lily Fan said, “New York’s craft brewers are among the most innovative and entrepreneurial in the country — constantly pushing boundaries with new flavors, creative branding and a true dedication to quality. In today’s competitive market, that kind of ingenuity deserves our support. Thanks to the leadership of Governor Hochul and the close collaboration with our partners at Empire State Development and the Department of Agriculture and Markets, the State Liquor Authority is proud to play a role in helping brewers across New York produce more, sell more, open quickly and save on overhead. We’re excited to celebrate the inaugural New York Craft Beer Day on April 11th — and we hope it brings new fans, fresh energy and increased foot traffic to taprooms across our state. Cheers to our craft brewers — and as always, drink responsibly and stay safe.”

    Empire State Development President, CEO and Commissioner Hope Knight said, “New York’s community of diverse and creative craft breweries spans the entire state, creating unique libations and destinations that welcome residents and visitors alike. Breweries bring energy into our downtown areas, while supporting jobs and local economies. New York Craft Beer Day is a perfect opportunity to raise a glass and celebrate the New Yorkers who brew the distinctive drafts, and to support the small businesses that keep our communities quenched.”

    Executive Director of the New York State Brewer’s Association Paul Leone said,“Beer has been part of New York’s history since the early 1600’s when the first known brewery was built on the southern tip of New Amsterdam, which is now Manhattan. Today there are over 500 breweries scattered throughout every region of the state, thanks to the passion and dedication of the craft brewers, owners and the customers that keep their small businesses alive. We are so honored that Governor Hochul would proclaim April 11th New York Craft Beer Day starting in 2025, which will give us one day every year to shine an extra bright light on an industry that employs over 22,000 hard working New Yorkers, and will give craft beer fans one more reason to celebrate and raise a glass to New York State craft beer!”

    State Senator Michelle Hinchey said, “New York’s inaugural Craft Beer Day is a well-earned toast to the producers who’ve turned their passion into one of our state’s most beloved agricultural sectors. From grain to glass, craft beer is creating jobs, contributing to the economic resurgence of our upstate communities, and keeping New York ingredients in New York products. Congratulations to all of this year’s winners of the 2025 NYS Craft Beer Awards, including the outstanding brewers representing the Hudson Valley. We’re thrilled to celebrate the care and craftsmanship behind every batch and the pride it brings to so many hometowns across New York State.”

    Assemblymember Donna Lupardo said, “Cheers to New York Craft Beer. A special day devoted to celebrating NY’s amazing craft brewers and their products is very much appreciated. Some of the finest craft beer in the country can be found in every region of the state.”

    In addition, New York State, through its New York State Grown & Certified and Taste NY programs, continues to support New York’s craft beverage industry and its’ breweries through direct marketing, social media and a number of special initiatives and events that spotlight the industry, including at sports arenas and venues across the State. For example, Taste NY is partnering with Minor League Baseball teams across New York State again this year, and in 2024, brought the very best of New York’s local food and beverages, including local craft beverages, to more than 1.2 million fans at stadiums across New York. In 2023 and 2024, Taste NY sponsored a Tasting Yard at the Great New York State Fair, which featured a rotating selection of New York State craft breweries over the course of the Fair, giving visitors a taste of New York’s world-class craft beverage products and giving brewers the opportunity to meet new customers as nearly one million visitors come through the Fair gates.

    MIL OSI USA News –

  • MIL-OSI Europe: World Parkinson’s Day: EU project uses AI to improve diagnosis and care

    Source: European Union 2

    Parkinson’s disease affects more than one million people in the EU and this number is expected to double by 2030, primarily due to an aging population. 

    To mark World Parkinson’s Day, HaDEA interviewed Prof. Leontios Hadjileontiadis, coordinator of AI-PROGNOSIS, a Horizon Europe research and innovation project aiming to advance Parkinson’s disease diagnosis and care through novel predictive models combined with digital biomarkers from everyday devices, such as smartphones and smartwatches. 

    Prof. Hadjileontiadis, tell us more about AI-PROGNOSIS. 

    AI-PROGNOSIS is focused on improving Parkinson’s disease diagnosis and care through predictive models driven by artificial intelligence (AI) and digital biomarkers from everyday devices. The project aims to enhance early detection, predict disease progression and optimise treatment responses, thereby personalising patient care. By leveraging data from smartphones and smartwatches, AI-PROGNOSIS offers valuable insights into individual risk and treatment efficacy, ultimately improving the quality of life for those with Parkinson’s disease. 

    What can you tell us about your project’s use of AI? Have you encountered any challenges in integrating your solutions in broader healthcare systems?  

    The lack of interoperability with legacy electronic health record systems has made integrating AI tools into existing clinical workflows difficult. Many healthcare institutions still use outdated systems not designed to support advanced AI technologies. Building trust and acceptance among healthcare professionals and patients has also been a challenge. There is often scepticism about the accuracy and reliability of AI models and concerns about the potential for AI to replace human roles in healthcare. Overcoming these concerns requires continuous education and demonstration of the AI tools’ benefits and reliability.  

    Navigating the complex regulatory landscape for AI in healthcare has added to the challenges. Ensuring that AI tools meet all legal and ethical standards is essential for their adoption and use. Additionally, accessing existing datasets has been difficult due to data ownership and sharing restrictions, which limit the amount of data available for training AI models. Recruiting patients for studies and trials has also been challenging, as it requires significant time and resources to ensure a diverse and representative sample. 

    These challenges underscore the importance of a collaborative and adaptive approach in developing and implementing AI solutions in healthcare, ensuring they are both effective and widely accepted. 

    Could you elaborate on this collaborative and adaptive approach?  

    AI-PROGNOSIS has adopted a comprehensive and inclusive approach to identify the needs of key stakeholders, including patients, healthcare professionals, and researchers. The project emphasises continuous engagement and collaboration with these groups to ensure the tools developed are user-friendly and meet their needs. 

    This includes: 

    • Multidisciplinary workshops: AI-PROGNOSIS organises workshops bringing together experts from various fields to discuss and refine project goals and methodologies; 
    • Patient involvement: Patients are actively involved in the design and testing phases, providing valuable feedback on usability and functionality; 
    • Input from health professionals: Regular consultations with doctors and therapists help tailor the AI tools to clinical workflows and practical needs; 

    • Input from the external advisory board: Expert guidance on the ethical implementation, strategic integration, industry perspectives and impactful application of AI-PROGNOSIS output in Parkinson’s disease research and care. 

    This collaborative and iterative approach ensures that AI-PROGNOSIS remains aligned with the real-world needs of its stakeholders, enhancing its impact on Parkinson’s diagnosis and care.  

    Having consulted with numerous stakeholders, can you give us an example of how this feedback has been used? 

    For example, in one of the focus groups that we ran, healthcare professionals shared how challenging it was to be informed about their patients’ changing symptoms across the course of the illness. This insight helped us develop the mAI-Insights application, which allows healthcare professionals to receive frequent updates and alerts about their patients’ symptoms.* 

    With the project running until 2027, how important is the EU’s financial support throughout the project life cycle? 

    The support of EU funding is crucial for our project. It provides financial resources for extensive research, developing advanced AI models, and integrating digital biomarkers from everyday devices. EU funding under the Horizon Europe programme also facilitates collaboration among multidisciplinary European teams, ensuring that the project benefits from diverse expertise and perspectives. Additionally, this support helps navigate regulatory challenges and promotes the adoption of innovative solutions in healthcare systems. Without EU funding, achieving the project’s ambitious goals and significantly impacting Parkinson’s diagnosis and care would be much more challenging. 

    *The project also features two other applications: mAI-Health for persons with suspected Parkinson’s to track their personalised risk and mAI-CARE for persons with diganosed Parkinson’s to track symptoms, disease progression and treatment efficacy. 

    Background

    Horizon Europe is the research and innovation programme of the EU for the period 2021-2027. The aims of Cluster 1 ‘Health’ include improving and protecting the health and well-being of citizens of all ages by generating new knowledge, developing innovative solutions and integrating where relevant a gender perspective to prevent, diagnose, monitor, treat and cure diseases. Horizon 2020 (H2020) was the EU’s multiannual funding programme between 2014 and 2020.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Senior councillors in Leeds to consider local community services review report

    Source: City of Leeds

    Executive board meeting to be held on Wednesday 23 April

    Senior councillors in Leeds will consider an update report on ongoing work to enhance local community services and maximise the use of council buildings at a meeting later this month.

    At the meeting of the council’s executive board at Civic Hall on Wednesday 23 April, councillors will discuss the report which forms part of the council’s ongoing commitment to continuously assess and review all services to ensure they are being delivered as effectively as possible in the face of ongoing significant financial challenges.

    The report details the current positions regarding ongoing service reviews concerning mental health hubs for adults, Little Owls nurseries and children’s centres.

    Leeds City Council currently manages three buildings delivering mental health day support and another three buildings for people with complex needs. Due to changes in how services are being delivered across the wider community, especially following the pandemic, there is less need for people to attend these buildings.

    At the mental health hubs, nearly half of those receiving support do not access the building and as a result the hubs only open two or three days a week for groups or support sessions, although even on these days the capacity available is not being fully used.

    At the complex needs centres attendance has also been gradually declining, with an average capacity use of 58 per cent since the pandemic.

    To allow these services to be delivered more efficiently and to make better use of the buildings concerned, the council is proposing to move the three mental health hubs into the complex needs centres to become integrated community hubs for adults. There are no proposed changes to the level of support offered to people.

    The complex needs centres offer greater accessibility and are of a good standard and this change would see the Stocks Hill Mental Health Support Hub move to join the Calverlands Complex Needs Centre in Horsforth, Lovell Park Mental Health Support Hub join the Wykebeck Complex Needs Centre, and Vale Circles Mental Health Support Hub join the Laurel Bank Complex Needs Centre in Middleton.

    Consultation has been carried out with service users and stakeholders. Careful planning has also been undertaken to design individualised support to help people transition to the new sites or to other local community locations where services can be delivered.

    The integration of services from six buildings to three would deliver savings of around £500,000 this year, while the vacated buildings at Lovell Park and Vales Circles would be made available for sale for a capital receipt to help the council meet its savings requirement of over £100million this year.

    If executive board approves the proposed change, the mental health hub day services would relocate from next month with the integrated community hubs in full operation from June.

    The report also gives an update regarding the review of Little Owls nurseries and children’s centres. Following a market-sounding exercise undertaken for 12 Little Owls nurseries, the potential delivery through schools or alternative providers is being progressed. Interested parties are engaging in an assessment process which will include considering the need for, or use of, existing buildings. If alternative provision cannot be secured for any of the 12 nurseries, the council will retain and continue to deliver the service itself. This position will be clarified by the end of July.

    On children’s centres, the report details the timeline for proposals to improve the range, effectiveness and integration of services at the 56 centres managed by Leeds City Council or partners. Consultation will be undertaken in the summer with all interested parties, and a report on future proposals is expected to be considered by the executive board in September.

    The changing role of community centres is also explained in the report, broadening their remit to offer an increasingly wide range of services and support for all ages and becoming multi-use community spaces rather than just buildings, enabling them to be accessed more fully by the wider community.

    Community asset transfers are also being considered as an option for some community buildings where it is considered appropriate and with viable interest in them being run and managed at a local level.

    The council-managed Leeds libraries service continues to offer an increasing range of services, while the report also outlines the potential for leisure centres to also host additional services offering greater flexibility to their local communities.

    Leeds City Council deputy leader and executive member for resources Councillor Debra Coupar said:

    “The council is firmly committed to continuously reviewing all our services, and how and where they are delivered to ensure they are effective and meeting the needs of residents and the communities they serve.

    “Where we can make changes to improve the quality, range and accessibility of our services and to make them more integrated it makes sense to do that, while also helping to make sure our buildings and estate are being well used, maintained and are welcoming environments for people of all ages to want to use and visit.

    “Our proposed change to mental health day support provision will provide a transformative boost, with the integrated community hubs for adults bringing services and people together under one roof and all the associated benefits that synergy entails. We are committed to doing everything we can to make the transition as smooth as possible, while also being able to dispose of underperforming buildings to help with the significant financial challenge we face this year.”

    To see the report being considered by the executive board visit Council and democracy (item 9).

     

    ENDS

     

    For media enquiries please contact:

    Leeds City Council communications and marketing,

    Email: communicationsteam@leeds.gov.uk

    Tel: 0113 378 6007

     

    MIL OSI United Kingdom –

  • MIL-OSI USA: Congresswoman Tenney Reintroduces the Promoting Affordable Childcare for Everyone Act

    Source: United States House of Representatives – Congresswoman Claudia Tenney (NY-22)

    Washington, DC – Congresswoman Claudia Tenney (NY-24), alongside Congressman Brad Schneider (IL-10), reintroduced the Promoting Affordable Childcare for Everyone (PACE) Act to bolster existing federal childcare tax incentives and improve access to affordable and high-quality child care for American families. 

    The PACE Act would update the Child and Dependent Care Tax Credit and enhance Dependent Care Flexible Spending Accounts (DCFSAs) to make the credit refundable and allow for annual updates to keep both incentives effective and provide more financial support for working parents. This legislation increases the amount of pre-tax dollars parents can put into the accounts from $5,000 to $7,500, which indexes the new cap to inflation to allow DCFSAs to keep pace with the cost of childcare.

    “Hardworking families should not have to spend their entire paycheck on affordable, quality child care. The PACE Act supports working families and childcare professionals by increasing the Dependent Care Flexible Spending Accounts cap and expanding the Child and Dependent Care Tax Credit to keep up with today’s economy. This pro-family bill modernizes federal child care incentives, increases accessibility, and ensures lower-income and working families can provide quality care for their children,” said Congresswoman Tenney. 

    “The cost of quality childcare has only gone up while the existing provisions in our tax code that help with these costs haven’t been updated in decades. Childcare costs are crushing too many families across the country — it’s long past time we enhance them to provide substantive financial support for working families and ensure they remain effective going forward. I’m proud to join Rep. Tenney send this lifeline to families struggling to afford care for their kids,” said Congressman Schneider. 

    “Child care costs are continuing to rise, and working parents simply can’t keep up,” said FFYF Executive Director Sarah Rittling. “The Promoting Affordable Childcare for Everyone (PACE) Act takes a significant step towards making care more affordable by updating two important tax provisions: the Child and Dependent Care Tax Credit (CDCTC) and Dependent Care Assistance Plans (DCAP). This legislation is a direct investment in hardworking families who need support as they look to re-enter or stay in the workforce, and we are grateful to Reps. Claudia Tenney and Brad Schneider for their work to provide much-needed relief to parents and caregivers.” 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: To Boost Forest Workforce, King Introduces Bipartisan Legislation

    US Senate News:

    Source: United States Senator for Maine Angus King
    WASHINGTON, D.C. — U.S. Senators Angus King (I-ME) and Jim Risch (R-ID), co-chairs of the Senate Working Forests Caucus, are introducing bipartisan legislation to improve forest industry employment and participation through a grant program aimed at rural and underserved communities. The Jobs in the Woods Act would support developmental programs designed to better equip and train the forest products workforce for careers with the U.S. Forest Service and timber industries. Nationally, the forest products industry employs roughly 925,000 people directly and supports nearly 2 million jobs indirectly. In Maine, the industry supports nearly 14,000 jobs across the state.
    “Maine’s forestry industry has been foundational for our state economy for generations, and we want to sustain it for generations to come,” said Senator King. “As the industry continues to evolve, we must ensure our forestry workforce has the proper training and skills to help responsibly manage our forests while strengthening our local economies. The bipartisan Jobs in the Woods Act is commonsense legislation that will invest in new and innovative workforce programs — helping Maine people get quality, good-paying jobs and securing the future of our state’s iconic timber industry.”
    “A robust and skilled workforce is critical to Idaho’s forest and economic health,” said Senator Risch. “My Jobs in the Woods Act will equip rural communities to build up the timber industry with educational and training programs to ensure Idaho continues to effectively manage our forests and prevent catastrophic wildfires for years to come.”
    “The Professional Logging Contractors of the Northeast applauds Senator King for sponsoring and introducing the Jobs in the Woods Act and we fully support this important legislation at a critical time for the logging industry,” said Dana Doran, Executive Director of the Professional Logging Contractors Northeast. “Our existing logging and forest trucking workforce is aging, and targeted workforce education and training programs are needed to provide pathways to good paying careers in the woods to ensure the industry’s future. Opportunities are strong for the next generation, particularly in the rural areas where this legislation would have the greatest impact.”
     “A strong, economically viable forest products industry depends on a healthy wood supply chain — and that starts with a skilled, supported workforce. The Jobs in the Woods Act invests in workforce development and education in rural, forest-based communities,” said Tim O’Hara, Forest Resources Association President. “By supporting training programs focused on forestry-related careers, this legislation creates pathways for the next generation to pursue meaningful careers in forestry, logging, log transportation, sawmilling, and beyond — right in the communities they call home.”
    The forestry and forest products industry relies on the strength and resilience of our rural communities and the rural economy. We need to ensure that this rural economy can persist and to do so we need a strong workforce with the skillsets that can sustainably support our forest,” said Alexander Ingraham, President of Pinetree Associates. “Workforce development is a critical need for these communities, the forest, and the forest products industry to sustain and thrive. The Jobs in the Woods Act sets a pathway towards a thriving workforce and a sustainable rural economy.
    The Jobs in the Woods Act is cosponsored by Senators Jeff Merkley (D-OR), Jim Crapo (R-ID), Jeanne Shaheen (D-NH), Susan Collins (R-ME), Tina Smith (D-MN) and Amy Klobuchar (D-MN).
    As a member of the Senate Energy and Natural Resources Committee, Senator King is seen as a national leader in efforts to support Maine’s forest products industry. He also introduced the bipartisan Future Logging Careers Act to help train the next generation of Maine loggers. Previously, Senator King introduced the bipartisan Timber Innovation Act for Building Rural Communities Act to improve forest health and support Maine’s rural economy. He also introduced legislation to establish a “Future of Forests” panel tasked with making recommendations to secure the health of America’s forests. Senator King was key in establishing the Forest Opportunity Roadmap Maine (FOR/ME) Initiative, a participant-led initiative that is helping to diversify the state’s wood products businesses, attract investments, support research and development, and develop greater economic prosperity for rural communities impacted by mill closures.

    MIL OSI USA News –

  • MIL-OSI: MYT Netherlands Parent B.V. (“Mytheresa”) receives final regulatory clearance to acquire YOOX NET-A-PORTER (“YNAP”) from Richemont, with closing planned for 23 April 2025

    Source: GlobeNewswire (MIL-OSI)

    MYT Netherlands Parent B.V. (“Mytheresa”) receives final regulatory clearance
    to acquire YOOX NET-A-PORTER (“YNAP”) from Richemont, with closing planned for 23 April 2025 

    11 April 2025 – Today, Mytheresa (NYSE:MYTE) received the unconditional merger control clearance from the European Commission for the acquisition of YNAP from Richemont (SWX:CFR), through its subsidiary Richemont Italia Holding S.P.A.. Mytheresa and Richemont have now received all other necessary approvals from regulatory authorities and plan to close the transaction on 23 April 2025.

    On 7 October 2024, Mytheresa and Richemont signed binding agreements for the acquisition by Mytheresa of 100% of the share capital of YNAP from Richemont, aiming to build a leading global multi-brand digital luxury group. The receipt of all necessary regulatory approvals is the final step for the completion of the transaction. Under the umbrella of “LuxExperience B.V.”, which the combined company will be named following the acquisition, the brands Mytheresa, NET-A-PORTER, MR PORTER, YOOX and THE OUTNET will offer highly curated and strongly differentiated selections of the most prestigious brands for luxury customers with unprecedented reach and relevance.

    Michael Kliger, Chief Executive Officer of Mytheresa, said, “We are truly excited to have received all required regulatory clearances to finalize the acquisition of YOOX NET-A-PORTER. We will become one of the leading global, digital luxury platforms for true luxury enthusiasts through having multiple, highly distinguished storefronts, all under the umbrella of LuxExperience. We will generate significant synergies by using a joint back-of-house platform, but most importantly because we will have one of the most relevant overall value propositions for global luxury shoppers and brands. Today marks a significant milestone in our success story as we enter a new and exciting phase for both Mytheresa and all YNAP brands, which is expected to create significant value for our customers, brand partners and shareholders.”

    Martin Beer, Chief Financial Officer of Mytheresa, added: “The acquisition of YNAP fulfills Mytheresa´s ambition to build a leading online luxury group worth around 3 billion Euros GMV per annum. In the medium term, our goal for LuxExperience will be to grow to a 4 billion Euros GMV per annum business with >8% Adj. EBITDA margin. While the consolidation of YNAP will initially dilute our EBITDA margin at group level we are uniquely prepared to achieve a fundamental transformation and return the YNAP businesses to profitability. The restructuring is expected to take 24 to 36 months and is well funded with a net cash position of 555 million Euros at closing. We will fully leverage Mytheresa’s operational excellence, proprietary technology and proven ability to execute large-scale projects.”

    Johann Rupert, Chairman of Richemont, said: “We look forward to LuxExperience’s future success, as the receipt of this clearance paves the way for both the Mytheresa and YNAP teams, their brand partners and customers alike to fully benefit from the enhanced value propositions and expanded global reach offered by the combined businesses.”

    At transaction closing, Mytheresa will issue new shares to Richemont representing 33% of Mytheresa’s fully diluted share capital after issuance of the consideration shares. At the same time, Richemont will sell YNAP with a cash position of €555m and no financial debt to Mytheresa, which will become YNAP’s sole shareholder. Richemont will also provide a 6-year €100m revolving credit facility to YNAP. Upon transaction closing, Burkhart Grund, Chief Financial Officer of Richemont, will join Mytheresa Supervisory Board as new Board member.

    Mytheresa, NET-A-PORTER and MR PORTER will continue to offer differentiated, but complementary, multi-brand offering for luxury customers. The three individual store brands will maintain their own brand’s identities while sharing central infrastructure resources jointly. At the same time, the off-price division, consisting of YOOX and THE OUTNET, will be separated from the luxury division for a much simpler and more efficient operating model.

    With regulatory clearance received, Mytheresa and Richemont will now move forward with the final steps required to complete the transaction. A further announcement will be made at transaction closing. Further details on integration plans will be shared in due course. 

    Forward-looking statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact or relating to present facts or current conditions included in this press release are forward- looking statements. Forward-looking statements give Mytheresa’s current expectations and projections relating to the proposed transaction and the operation of the combined companies; its financial condition, results of operations, plans, objectives, future performance and business, including statements relating to financing activities, future sales, expenses, and profitability; future development and expected growth of our business and industry; our ability to execute our business model and our business strategy; having available sufficient cash and borrowing capacity to meet working capital, debt service and capital expenditure requirements for the next twelve months; and projected capital spending. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements contained in this press release are based on assumptions that Mytheresa has made in light of its industry experience and perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. As you read and consider this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (many of which are beyond Mytheresa’s control) and assumptions. Although Mytheresa believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual operating and financial performance and cause its performance to differ materially from the performance anticipated in the forward-looking statements. Mytheresa believes these factors include, but are not limited to: the occurrence of any event, change or other circumstances that could give rise to the termination or abandonment of the proposed transaction; the expected timing and likelihood of completion of the proposed transaction with Richemont; the risk that the remaining conditions to closing the proposed transaction may not be satisfied in a timely manner or at all; the risk that the proposed transaction and its announcement could have an adverse effect on the ability of YNAP to retain customers and retain and hire key personnel and maintain relationships with their brand partners and customers and on their operating results and businesses generally; the risk that problems may arise in successfully integrating the businesses of YNAP and Mytheresa, which may result in the combined company not operating as effectively and efficiently as expected; the risk that the combined company may be unable to achieve cost-cutting synergies or that it may take longer than expected to achieve those synergies; Mytheresa’s ability to effectively compete in a highly competitive industry; Mytheresa’s ability to respond to consumer demands, spending and tastes; general economic conditions, including economic conditions resulting from deteriorating geopolitical and macroeconomic conditions, such as the recent global trade war that escalated after the U.S. imposed tariffs on countries across the globe, and the adoption of retaliatory tariffs by those countries, that may adversely impact consumer demand; Mytheresa’s ability to acquire new customers and retain existing customers; consumers of luxury products may not choose to shop online in sufficient numbers; the volatility and difficulty in predicting the luxury fashion industry; Mytheresa’s reliance on consumer discretionary spending; and Mytheresa’s ability to maintain average order levels and other factors. Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove incorrect, Mytheresa’s actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements.

    Mytheresa undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

    The achievement or success of the matters covered by such forward-looking statements involves known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, Mytheresa’s results could differ materially from the results expressed or implied by the forward-looking statements it makes.

    You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent Mytheresa’s management’s beliefs and assumptions only as of the date such statements are made.

    Further information on these and other factors that could affect Mytheresa’s financial results is included in filings it makes with the U.S. Securities and Exchange Commission (“SEC”) from time to time, including the section titled “Risk Factors” in its annual report on Form 20-F and on Form 6-K (reporting its quarterly results). These documents are available on the SEC’s website at www.sec.gov and on the SEC Filings section of the Investor Relations section of our website at: https://investors.mytheresa.com.

      
    About non-IFRS financial measures and operating metrics

    Adjusted EBITDA margin is a non-IFRS financial measure that we calculate as net income before finance expense (net), taxes, and depreciation and amortization, adjusted to exclude Other transaction-related, certain legal and other expenses and Share-based compensation expense. Adjusted EBITDA Margin is a non-IFRS financial measure which is calculated in relation to net sales.

    We are not able to forecast net income (loss) on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect net income (loss), including, but not limited to, Income taxes and Interest expense and, as a result, are unable to provide a reconciliation to forecasted Adjusted EBITDA.

    Gross Merchandise Value (GMV) is an operative measure and means the total Euro value of orders processed, either as principal or as agent. GMV is inclusive of merchandise value, shipping and duty. It is net of returns, value added taxes, applicable sales taxes and cancellations. GMV does not represent revenue earned by us. We use GMV as an indicator for the usage of our platform that is not influenced by the mix of direct sales and commission sales. The indicators we use to monitor usage of our platform include, among others, active customers, total orders shipped and GMV.

    About Mytheresa

    Mytheresa is one of the leading luxury multi-brand digital platforms shipping to over 130 countries. Founded as a boutique in 1987, Mytheresa launched online in 2006 and offers ready-to-wear, shoes, bags and accessories for womenswear, menswear, kidswear as well as lifestyle products and fine jewelry. The highly curated edit of up to 250 brands focuses on true luxury brands such as Bottega Veneta, Brunello Cucinelli, Dolce&Gabbana, Gucci, Loewe, Loro Piana, Moncler, Prada, Saint Laurent, The Row, Valentino, and many more. Mytheresa’s unique digital experience is based on a sharp focus on high-end luxury shoppers, exclusive product and content offerings, leading technology and analytical platforms as well as high quality service operations. The NYSE listed company reported € 913.6 million GMV in fiscal year 2024 (+7% vs. FY23). For more information, please visit https://investors.mytheresa.com/.

    “LuxExperience” will be the trade name for LuxExperience B.V. a Dutch company with limited liability, upon completion of the renaming of MYT Netherlands Parent B.V.

    About Richemont

    At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

    Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian as well as Watchfinder & Co. In addition, Richemont operates NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division. Find out more at https://www.richemont.com/.

    Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. The ‘A’ shares are also traded on the Johannesburg Stock Exchange (JSE), Richemont’s secondary listing.

    About YOOX NET-A-PORTER (YNAP)

    YNAP is a world leading online luxury and fashion retailer, with a distinctive offering including multi-brand in-season online stores NET-A-PORTER and MR PORTER, and multi-brand off-season online stores YOOX and THE OUTNET.

    Uniquely positioned in the high growth online luxury sector, YNAP has a client base of c.4 million high-spending customers and over 900 million visitors worldwide. The Group has offices and operations in the United States, Europe, Middle East, Japan, mainland China and Hong Kong SAR, China. It delivers to over 170 countries around the world. 

    Investor Relations Contacts
    Mytheresa.com GmbH
    Stefanie Muenz
    phone: +49 89 127695-1919
    email: investors@mytheresa.com

    Media Contacts for public relations
    Mytheresa.com GmbH
    Sandra Romano
    mobile: +49 152 54725178
    email: sandra.romano@mytheresa.com

    Media Contacts for business press
    Mytheresa.com GmbH
    Lisa Schulz
    mobile: +49 151 11216490
    email: lisa.schulz@mytheresa.com

    Media Contacts for business press
    BOC Consult GmbH
    Ruediger Assion
    mobile: +49 176 2424 7691
    email: ruediger.assion@boc-consult.com

    Richemont Contacts
    Investor / analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
    Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

    Source: MYT Netherlands Parent B.V.

    Click here for a printer-friendly version in English (PDF)

    The MIL Network –

  • MIL-OSI United Kingdom: Senior councillors set for major update on Elland Road

    Source: City of Leeds

    Senior councillors are to be briefed on a major regeneration vision which could see Leeds United’s iconic Elland Road home become one of the country’s largest football stadiums.

    At a meeting of Leeds City Council’s executive board, members will be updated on a package of ambitious proposals that would transform a key part of south Leeds.

    These include an imminent planning application from Leeds United to increase their famous ground’s capacity to up to 56,500, a move that, if approved, would see it join the ranks of the nation’s elite sporting venues.

    Land immediately surrounding the stadium is owned by Leeds City Council, meaning agreements will need to be in place between the council and the club before any expansion can begin.

    A report to the executive board details the vast potential of the club’s upcoming application in the context of the wider Elland Road area, comprising around 30 acres of council-owned land which could be transformed and regenerated, with billions of pounds of investment then being unlocked.

    With a potential Mass Rapid Transit link for south Leeds, the report outlines a unique opportunity for Elland Road to become a year-round destination, potentially giving a huge boost to the local economy while supporting the council’s broader inclusive growth ambitions.

    As well as the stadium redevelopment, long term plans for the wider south Leeds area include the potential of British Library North at Temple Works, the Holbeck Sports Hub and Heart of Holbeck, which will include the renewal of the local high street, transformation of a local community centre and the delivery of improvements to traditional terraced homes.

    These projects sit alongside existing economic hubs at the White Rose Shopping Centre and White Rose Park.

    At the upcoming meeting, members will be asked to note the huge potential of the Elland Road regeneration project and to approve the start of legal agreements to dispose of council land to Leeds United Football Club, which would be needed for stadium enhancement.

    The executive board will also be asked to approve that the council enter into a Memorandum of Understanding with the Leeds United’s development partner Lowy Family Group.

    Members will be asked to consider an initial period of collaboration with LFG on the wider regeneration potential and strategy for 30 acres of council owned land around the stadium.

    LFG is an investor in the owners of LUFC, 49ers enterprises, and Peter Lowy, one of the principals of LFG, is a board member of the club.

    Members are also being asked to approve steps to refresh the council’s vision for the future regeneration of land adjacent to an expanded stadium, and to prepare for a future public consultation on the proposals, which will enable people in the area to have their say.

    Councillor James Lewis, leader of Leeds City Council, said: “Elland Road and Leeds United are part of the heart and soul of the city, and the club deserves a stadium befitting of its special status and incredible fans.

    “Naturally we’re keen to support this however we can, and to work closely with the club to ensure they are in the best possible position to achieve their ambitions and build a bigger, brighter future for the club, their supporters and sport in the city.

    “From a wider perspective, the regeneration of the Elland Road area also represents one of the city’s most exciting development opportunities for a generation, which would revitalise a huge area of Leeds and potentially bring hundreds of millions of pounds into our local economy.

    “Local residents will be fully consulted throughout the planning process and we’re keen to ensure their voices are heard and that they get the chance to inform the project at each stage.

    “We want to do all that we can to maximise this incredible opportunity and put everything we can in place, including our MoU with the club’s development partner LFG, to facilitate what could represent a genuine game changer for Leeds.”

    The council’s executive board will meet on April 23. For more details and to view a full copy of the report, please visit: South Leeds Regeneration Cover Report 110425.pdf.

    ENDS

    MIL OSI United Kingdom –

  • MIL-OSI Global: China’s new underwater tool cuts deep, exposing vulnerability of vital network of subsea cables

    Source: The Conversation – Global Perspectives – By John Calabrese, Assistant Professor, School of Public Affairs and Non-Resident Senior Fellow, Middle East Institute, American University

    Laying an undersea fiber-optic cable at Arrietara beach near the Spanish village of Sopelana. Ander Gillenea/AFP via Getty Images

    Chinese researchers have unveiled a new deep-sea tool capable of cutting through the world’s most secure subsea cables − and it has many in the West feeling a little jittery.

    The development, first revealed in February 2025 in the Chinese-language journal Mechanical Engineering, was touted as a tool for civilian salvage and seabed mining. But the ability to sever communications lines 13,000 feet (4,000 meters) below the sea’s surface − far beyond the operational range of most existing infrastructure − means that the tool can be used for other purposes with far-reaching implications for global communications and security.

    That is because undersea cables sustain the world’s international internet traffic, financial transactions and diplomatic exchanges. Recent incidents of cable damage near Taiwan and in northern Europe have already raised concerns of these systems’ vulnerabilities − and suspicions about the role of state-linked actors.

    The growing sophistication and openness of underwater technology evidenced by the latest news from China suggest that undersea infrastructure may play a larger role in future strategic competition. Indeed, this development adds a new layer to the broader challenge of securing critical infrastructure amid expanding technological reach and the rise of so called “gray zone” tactics – antagonisms that take place between direct war and peace.

    The backbone of global communication

    Despite their unassuming appearance, undersea cables form the backbone of modern communication systems. Stretching around 870,000 miles (over 1.4 million kilometers) across every ocean, these cables transmit almost 100% of global internet communication.

    Underwater cables unite the world.
    TeleGeography/submarinecablemap.com, CC BY-SA

    These information superhighways are a major engine for the modern economy and are indispensable for things such as almost instantaneous financial transactions and real-time diplomatic and military communications.

    If all these cables were suddenly severed, only a sliver of U.S. communication traffic could be restored using every satellite in orbit.

    The entire system is built, owned, operated and maintained by the private sector. Indeed, approximately 98% of these cables are installed by a handful of firms. As of 2021, the U.S. company SubCom, French firm Alcatel Submarine Networks and Japanese firm Nippon Electric Company collectively held an 87% market share. China’s HMN Tech holds another 11%.

    Tech giants including Amazon, Google, Meta and Microsoft now own or lease roughly half of the undersea bandwidth worldwide, according to analysis by the U.S.-based telecommunications research group TeleGeography.

    Vulnerabilities and sabotage

    The very characteristics that make undersea cables effective also render them highly vulnerable. Built to be lightweight and efficient, they are exposed to a variety of natural hazards, including underwater volcanic eruptions, typhoons and floods.

    But human activity is still the primary cause of cable damage, whether it’s from accidental anchor drags or inadvertent entanglement with trawler nets.

    Now, security experts are increasingly concerned that future human disruptions might be intentional, with nations launching coordinated attacks on undersea cables as part of a hybrid war strategy.

    Such assaults could disrupt not only civilian communications but also critical military networks.

    An adversary, for example, could cut off a nation’s command structures from intelligence feeds, sensor data and communication with deployed forces. The ramifications extend even to nuclear deterrence: Without reliable communication, a nuclear-armed state might lose the ability to control or monitor its strategic weapons.

    The loss of communications, even for a few minutes, could be catastrophic. It could mean the difference between a successful defense and a crippling first strike.

    A technician explains the undersea damage to cables around Taiwan following a 2006 earthquake.
    Sam Yeh/AFP via Getty Images

    Geopolitical threats

    In recent years, Western policymakers have become particularly concerned about the capabilities of Russia and China to exploit the vulnerabilities of undersea cables.

    One particularly illustrative incident occurred in 2023 when Taiwanese authorities accused two Chinese vessels of cutting the only two subsea cables supplying internet to Taiwan’s Matsu Islands.

    The resulting digital isolation of 14,000 residents for six weeks was not an one-off episode. Taiwan’s ruling Democratic Progressive Party has pointed to a pattern, noting that Chinese vessels have disrupted cable operations on 27 occasions since 2018.

    In January 2025, Taiwan’s coast guard blamed a Cameroon- and Tanzania-flagged vessel crewed by seven Chinese nationals and operated by a Hong Kong-based company when an undersea cable was severed off the island’s northeastern coast.

    Such incidents, often described as gray-zone aggression, are designed to wear down an adversary’s resilience and test the limits of response.

    China’s recent push to enhance its cable-cutting capabilities coincides with a surge in its military drills around Taiwan, including a number of recent exercises.

    Similar cable disruptions have occurred in the Baltic Sea. In October 2023, a telecom cable connecting Sweden and Estonia was damaged along with a gas pipeline. In January 2025, a cable linking Latvia and Sweden was breached, triggering NATO patrols and a Swedish seizure of a vessel suspected of sabotage tied to Russian activities.

    Dmitry Medvedev, deputy chairman of Russia’s Security Council, even hinted at the possibility of targeting undersea communication cables as retaliation for actions such as the Nord Stream pipeline explosions in 2023.

    The involvement of state-linked vessels in incidents operating under flags of convenience − that is, registered to another country − further complicates efforts to attribute and deter such attacks.

    It isn’t just security and defense at risk. The modern financial system is predicated on the assumption of continuous, high-speed connectivity; any interruption, however brief, could disrupt markets, halt trading and lead to significant monetary losses.

    The undersea battlefield

    Given the strategic importance of undersea cables and the multifaceted risks they face, Western governments intent on preventing further conflict would be wise to find a comprehensive and internationally coordinated way to secure the infrastructure against threats.

    One clear option would be to bolster repair and maintenance capacities. Currently, a significant vulnerability stems from the overreliance on Chinese repair ships. China’s robust maritime industry and state-supported investments in global telecommunications has contributed to the Asian nation taking a prominent position when it comes to cable repair ships.

    The protection of undersea cables should not, I believe, be viewed as the responsibility of any single nation but as a collective priority for all nations reliant on this infrastructure. As such, international frameworks and agreements could facilitate information sharing, standardize security protocols and establish rapid response mechanisms in the event of a cable breach.

    But such international efforts would be fighting against the tide. The incidents in Taiwan, the Baltic Sea and elsewhere come as great power competition intensifies between the U.S. and China.

    China, in developing deep-water cable-cutting technology, may be sending a message of intent. Meanwhile, the Trump administration’s “America First” approach signals a shift that could complicate efforts to foster partnerships for the general global good.

    The defense of undersea cables reflects the challenges of our hyperconnected world, requiring a balance of innovation, strategy and cooperation. But as nations including China and Russia seemingly test and probe this vital global infrastructure, it appears the systems underpinning the West’s prosperity and security could become one of its greatest vulnerabilities.

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

    – ref. China’s new underwater tool cuts deep, exposing vulnerability of vital network of subsea cables – https://theconversation.com/chinas-new-underwater-tool-cuts-deep-exposing-vulnerability-of-vital-network-of-subsea-cables-251877

    MIL OSI – Global Reports –

  • MIL-OSI China: China raises additional tariffs to 125% on US imports

    Source: China State Council Information Office

    China will raise the additional tariffs on products imported from the United States to 125 percent, effective from Saturday, the Customs Tariff Commission of the State Council announced Friday.

    The announcement follows the U.S. move to raise the “reciprocal tariffs” on Chinese imports to 125 percent. The commission said the U.S. imposition of excessively high tariffs on China seriously violates international economic and trade rules, goes against basic economic laws and common sense, and is nothing but unilateral bullying and coercion.

    Also on Friday, a Chinese commerce ministry spokesperson said that the United States should take full responsibility for its unilateral tariff measures, which have caused significant disruptions and severe turbulence in the world economy, global markets and the multilateral trading system.

    The spokesperson said that the U.S. move to postpone imposing high tariffs on certain trading partners under pressure from China and other parties represents only a symbolic and minimal step, and the nature of using trade coercion by the United States for its own gains has not changed.

    China urges the U.S. side to immediately correct its wrong practices and cancel all unilateral tariff measures imposed on the country, the spokesperson said.

    The Customs Tariff Commission of the State Council said that even if the United States imposes even higher tariffs, it would no longer make economic sense and ultimately go down as a joke in world economic history.

    “Given that it’s already impossible for the Chinese market to accept U.S. imports at the current tariff level, if the United States imposes further tariffs on Chinese products, China will ignore it,” the commission said.

    However, should the United States persist in substantially undermining China’s interests, China will take firm countermeasures and fight to the end, the commission added.

    “China remains open to consultations with the United States, but believes that threats and pressure are not the correct approaches to engage with China,” the commerce ministry spokesperson said, urging the United States to resolve differences with China through dialogue based on mutual respect.

    MIL OSI China News –

  • MIL-OSI Africa: International Monetary Fund (IMF) and Seychelles Reach Staff-Level Agreement on the Fourth Reviews Under the Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF) Arrangements

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

    WASHINGTON D.C., United States of America, April 11, 2025/APO Group/ —

    • IMF staff and the Seychellois authorities have reached a staff-level agreement on the fourth reviews under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF) arrangements. Approval of the reviews by the IMF’s Executive Board would release financing of SDR 10 million, equivalent to $13.4 million.
    • The government has made strong progress in implementing policies under the EFF and RSF programs. All quantitative targets for the fourth reviews have been met. Good progress has been made on a range of macro-structural issues.
    • Seychelles’ economic outlook is generally stable, but downside risks have increased. Given vulnerability to changes in tourist spending, international commodity prices, and transport costs, continued fiscal prudence and close monitoring of economic and financial indicators is recommended.

    An International Monetary Fund (IMF) mission, led by Mr. Todd Schneider, conducted discussions with the Seychellois authorities in Victoria from March 31 to April 11, 2025, and reached a staff-level agreement on the fourth reviews under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF) arrangements. This agreement is subject to approval by the IMF’s Executive Board. Approval would release financing of SDR 10 million, equivalent to $13.4 million.

    At the end of the mission, Mr. Schneider issued the following statement:

    “The authorities continue to make progress in implementing the EFF-supported program. All end-December 2024 quantitative performance criteria under the program were met. Structural reforms related to improving the transparency of tax policy, enhancing monetary policy operations, and strengthening the effectiveness of the anti-money laundering and combatting the financing of terrorism (AML/CFT) regime were completed.

    “Real GDP growth for 2024 is estimated at 2.9 percent. Total tourist arrivals increased by only 0.5 percent, and tourist earnings declined by 6.9 percent. Growth in other sectors of the economy was generally moderate, apart from agriculture, information and communication, and financial services. Real GDP growth is expected to reach 3.2 percent in 2025 but is subject to downside risks given recent global economic developments.

    “Fiscal performance in 2024 was tighter than budgeted. The government’s primary fiscal surplus rose from 1.7 percent of GDP in 2023 to 3.2 percent in 2024. Tax and other revenues were slightly lower than earlier forecasts, but government expenditures were substantially lower than expected. The underspend was spread across budget lines but was highest with respect to capital projects, reflecting diversion of government planning resources to emergency reconstruction in the first part of the year and delays in several projects due to design and procurement issues. For 2025, the government is expected to achieve a primary fiscal surplus of 1.2 percent of GDP as budget execution improves.

    “The 2024 external current account position was stronger than expected due largely to lower than expected imports as some foreign financed projects did not materialize. The Central Bank of Seychelles (CBS) was able to increase gross foreign exchange reserves to $774 million, equivalent to 3.8 months of imports of goods and services. Looking ahead, a modest deterioration of the external account is expected in 2025. Tourist arrivals and earnings are projected to cool in the second half of the year but will be partially offset by lower international oil prices. On balance, this should allow the CBS to maintain central bank foreign exchange reserves over $800 million in 2025, raising import cover to the equivalent of 3.9 months.

    “The CBS has maintained a broadly accommodative monetary policy, facilitating a steady increase in the growth of private credit. Inflation remains low and is projected to remain below 2 percent in 2025. The CBS will need to monitor developments closely in coming months and be ready to adjust policy rates if needed. CBS will also continue to strengthen Seychelles’ monetary policy framework and bolster financial sector supervision.

    “The authorities are committed to bolstering governance. The Public Enterprise Monitoring Commission—through an independent audit firm—will complete governance and performance assessments of six key public enterprises by end-year. The 2025 budget contained an estimate of foregone revenue from tax expenditures (such as exemptions, deductions, and reduced rates). The government also continues to improve the transparency of the beneficial ownership database and ensure the accuracy of collected information.

    “With respect to climate change mitigation and adaptation, the authorities are advancing reform measures agreed under the RSF. Measures related to the current review focused on assessing and reporting on climate related risks in the banking sector, adopting a disaster risk financing strategy, and steps to facilitate the scaling up of renewable energy.

    “The team thanks the Seychellois authorities for the open dialogue and close collaboration. Meetings were held with President Ramkalawan, Vice President Afif, Governor of the Central Bank of Seychelles Abel, and other senior government officials as well as representatives of the private sector.”

    MIL OSI Africa –

  • MIL-OSI: Orange Bank & Trust Company Promotes David Dineen to Executive Vice President, Managing Director of Wealth Management

    Source: GlobeNewswire (MIL-OSI)

    MIDDLETOWN, N.Y., April 11, 2025 (GLOBE NEWSWIRE) — Orange Bank & Trust Company, an economic engine of New York’s business community for more than 132 years, announced that David Dineen has been promoted to Executive Vice President, Senior Managing Director of Wealth Management.

    Dineen joined Orange Bank & Trust in 2022 as Senior Vice President and Director of Wealth Services, successfully overseeing the trust and private banking divisions. As Senior Managing Director of Wealth Management, he is responsible for leading the asset management, trust, and private banking offerings under the umbrella of Orange Wealth Management.

    “David’s deep expertise in the wealth management industry, strategic vision, and commitment to our clients’ financial success is invaluable as we continue to expand our offerings through Orange Wealth Management,” said Michael Gilfeather, Orange Bank & Trust Company President and CEO.

    Dineen has more than 35 years of banking industry experience, including positions with The Bank of New York, Commerce Bank, North Fork Bank, Bankwell Financial, and Capital One Bank. He graduated from Saint Joseph’s College with a B.A. in Business Administration.

    “With Orange Wealth Management, we can offer our entrepreneurial clients a comprehensive solution that integrates investment guidance, estate planning, and personal banking services. I look forward to working with our team to continue to grow this area of our business and meet the evolving needs of our clients,” said Dineen.

    About Orange Bank & Trust Company  
    Orange Bank & Trust Company is the Hudson Valley’s premier financial institution focusing on commercial lending, business banking, and wealth management services. For more than 132 years, Orange Bank & Trust Company has been an economic engine of the community, with approximately $2.5 billion in assets and playing a vital role in increasing opportunities for local businesses, facilitating region-defining developments, and maximizing investments to neighborhood-serving non-profits.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3d5e90d0-9344-4c3b-b332-dc09b6a0651d

    The MIL Network –

  • MIL-OSI: Hanmi Financial Corporation Announces First Quarter 2025 Earnings and Conference Call Date

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, April 11, 2025 (GLOBE NEWSWIRE) — Hanmi Financial Corporation (Nasdaq: HAFC) (“Hanmi”), the holding company for Hanmi Bank, today announced that it will report first quarter 2025 financial results after the market close on Tuesday, April 22, 2025. Management will host a conference call that same day, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the results.

    Investment professionals and all current and prospective shareholders are invited to access the live call on April 22 by dialing 1-877-407-9039 before 2:00 p.m. Pacific Time, using access code “Hanmi Bank”. To listen to the call online visit the investor relations page of Hanmi’s website at www.hanmi.com. The webcast will also be available for replay approximately one hour following the call.

    About Hanmi Financial Corporation
    Headquartered in Los Angeles, California, Hanmi Financial Corporation owns Hanmi Bank, which serves multi-ethnic communities through its network of 32 full-service branches, five loan production offices and three loan centers in California, Colorado, Georgia, Illinois, New Jersey, New York, Texas, Virginia and Washington and Georgia. Hanmi Bank specializes in real estate, commercial, SBA and trade finance lending to small and middle market businesses. Additional information is available at www.hanmi.com.

    Contact
    Romolo (Ron) Santarosa
    Senior Executive Vice President & Chief Financial Officer
    213-427-5636

    Lisa Fortuna
    Investor Relations
    Financial Profiles, Inc.
    310-622-8251

    Source: Hanmi Bank

    The MIL Network –

  • MIL-OSI: QC Holdings, Inc. to be Acquired by Prospect Capital Corporation

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 11, 2025 (GLOBE NEWSWIRE) — A portfolio company of Prospect Capital Corporation (“Prospect”) (NASDAQ: PSEC) and QC Holdings, Inc. (“QC Holdings” or the “Company”) (OTCPK:QCCO) today announced they have entered into a definitive merger agreement pursuant to which, subject to certain conditions and on the terms set forth in the merger agreement, Prospect would acquire QC Holdings in an all-cash transaction, for $2.00 per share, for a total enterprise value of approximately $115 million (the “Merger”).

    The Merger was unanimously approved by the board of directors of QC Holdings and by the holders of a majority of the outstanding shares of the Company’s common stock. No other stockholder approval is required. Completion of the Merger is subject to the receipt of certain required regulatory approvals, as well as certain other closing conditions customary for transactions of this nature. The transaction is expected to close in 40 to 60 days.

    Upon completion of the transaction, QC Holdings’ common stock will no longer be listed on the OTC Pink Market. The Company will remain headquartered in Lenexa, Kansas.

    The QC Holdings management team, led by Darrin Andersen, President and Chief Executive Officer, will continue to lead the Company post-Merger in their current roles.

    “QC Holdings has built a strong foundation based on innovation, customer service, and operational excellence,” said Mr. Andersen. “This Merger provides an excellent premium for our stockholders above our stock price. Our access to greater capital through Prospect will position us for future growth and innovation, ensuring that we will continue to provide increased value to our customers.”

    “Prospect looks forward to supporting the growth of QC Holdings, a strong consumer finance business with a 40-year history,” said Grier Eliasek, President and Chief Operating Officer of Prospect.

    Blank Rome LLP served as legal advisor to Prospect. Stinson LLP served as legal advisor to QC Holdings.

    About QC Holdings, Inc.

    QC Holdings specializes in consumer-focused alternative financial services and credit solutions and, for more than 40 years, has been providing credit options for people underserved by traditional banking institutions. Its core products include a variety of short-term loans and financial services. In the United States, QC Holdings operates as “LendNation” through more than 325 retail locations in 12 states. In Canada, QC Holdings offers loans through 19 retail locations and online.

    About Prospect Capital Corporation

    Prospect is a business development company lending to and investing in private businesses. Prospect’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

    Prospect has elected to be treated as a business development company under the Investment Company Act of 1940. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of safe harbor provisions of the U.S. Private Securities Litigation Reform Act, whose safe harbor for forward-looking statements does not apply to business development companies. Forward-looking statements do not relate strictly to historical or current facts and may be identified by the use of words such as “may,” “will,” “should,” “could,” “would,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “predicts,” “forecasts,” “foresees,” “potential” and other words of similar meaning in conjunction with statements regarding, among other things, (i) plans and objectives of management for the operation of QC Holdings, (ii) statements regarding the timing of completion of the merger and the consummation of the Merger, (iii) the anticipated financing of the transaction, (iv) the anticipated benefits to QC Holdings arising from the completion of the Merger, (v) the impact of the Merger on QC Holdings’ business strategy and future business and operational performance, and (vi) the assumptions underlying or relating to any such statement. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements.

    Additional Information Regarding the Merger

    QC Holdings will mail or otherwise make available to its stockholders an Information Statement (the “Information Statement”), describing the Merger. QC HOLDINGS’ STOCKHOLDERS ARE URGED TO CAREFULLY REVIEW THE INFORMATION STATEMENT AND ANY ACCOMPANYING DOCUMENTS IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER. QC Holdings stockholders may obtain a free copy of the Information Statement and other documents (when available) from Computershare, the Company’s stock transfer agent.  A copy of the Information Statement will also be available on QC Holdings’ website at www.qchi.com.

    For further information, contact:

    Grier Eliasek, President and Chief Operating Officer, Prospect Capital Corporation 
    grier@prospectcap.com 
    (212) 448-0702

    Darrin J. Andersen, President / Chief Executive Officer, QC Holdings Inc. 
    Darrin.andersen@qcholdings.com
    (913) 234-5122

    Joshua C. Ditmore, General Counsel, QC Holdings, Inc.
    Joshua.ditmore@qcholdings.com
    (913) 234-5174

    The MIL Network –