NewzIntel.com

Category: Economy

  • MIL-Evening Report: Hackers have hit major super funds. A cyber expert explains how to stop it happening again

    Source: The Conversation (Au and NZ) – By Toby Murray, Professor of Cybersecurity, School of Computing and Information Systems, The University of Melbourne

    Several of Australia’s biggest superannuation funds have suffered a suspected coordinated cyberattack, with scammers stealing hundreds of thousands of dollars of members’ retirement savings.

    Superannuation funds including Rest, HostPlus, Insignia, Australian Retirement and AustralianSuper have all reportedly been targeted. However, so far AustralianSuper appears to be the worst affected.

    It is Australia’s largest superannuation fund. It has roughly 3.5 million members and manages more than $365 billion in retirement savings. In this cyberattack, a handful of its members have lost about A$500,000 in combined savings.

    AustralianSuper is reportedly assisting authorities recover the money. It has not yet confirmed if any remediation will occur.

    It’s not yet clear whether the affected accounts had mandatory multi-factor authentication for login or money transfers. But this is a crucial measure to reduce the risk of a similar cyberattack happening in the future.

    Strategic timing, stolen passwords

    Details of the cyberattack are still sparse. But we do know that it began in the early hours of last weekend. This timing was likely strategic: account holders wouldn’t have noticed anything suspicious as they would have most likely been sleeping.

    Cyber criminals are believed to have obtained stolen passwords – either from the dark web or other hacked websites. They then used these passwords to try to access people’s superannuation accounts.

    In a statement, AustralianSuper’s Chief Member Officer Rose Kerlin said scammers had accessed up to 600 customer passwords to log into accounts.

    So far only four accounts have actually been breached. In those cases, the scammers changed login details and transferred out lump sums of money.

    Although members of other superannuation funds do not seem to have lost any money, their personal information may have been compromised.

    Different to other attacks

    There have been cases in the past of people being scammed out of their retirement savings.

    For example, in 2020, Australian man Lee Braz lost all of his retirement savings, worth $180,000, to scammers. The scammers used fraudulent documents to trick his fund, Intrust Super (now owned by HostPlus), into authorising the transfer.

    After a four-year legal battle with the fund, Braz retrieved one-third of the money he had lost. However, this amount didn’t cover his legal fees.

    But this recent scam seems very different in nature. It didn’t involve scammers using any fraudulent documents or elaborate trickery. Instead, the perpetrators appear to have pulled it off simply by using stolen passwords to access accounts.

    Tighter security is crucial

    Australian Taxation Office data indicates the average super balance for men is roughly A$180,000, while for women it is roughly A$146,000.

    To ensure all of this money is properly protected, financial organisations should implement mandatory multi-factor authentication for user accounts. This would require people to prove who they are with something in addition to a password.

    This could include, for example, using a one-time code or an authenticator app on their smartphone. This makes it much harder for criminals who obtain user passwords to take over their accounts.

    Other financial organisations, including banks and some superannuation funds, already use multi-factor authentication. But it’s especially important for all superannuation funds to implement it, given many people don’t check their retirement savings for months at a time and are less likely to notice straight away if they’ve been hacked.

    In the wake of this cyberattack, the Association of Superannuations Funds of Australia says it is working to improve security across the industry, but it is unclear exactly what this will involve.

    Consumers also need to do their part by making sure they do not reuse passwords between websites. This is especially important for passwords used to protect accounts on financial organisations such as their super fund or online banking.

    Using a password manager is a great way to make it easy to have unique passwords for each website you visit.

    Finally, customers should be on the lookout for potential scams that may target them in the coming days. Scammers have been known to exploit fear and confusion in the wake of data breaches to try to lure victims into giving away personal information or money.

    Anyone receiving messages purporting to be from their super fund and who wants to respond to them should call up their super provider directly, using a phone number from their website. Avoid clicking links or phoning numbers listed in messages that purport to be from your super fund.

    Anyone receiving messages they suspect are scams can report them to Scamwatch.

    Toby Murray receives funding from the Department of Defence and Google. He is Director of the Defence Science Institute, wich receives funding from the Commonwealth and State governments.

    – ref. Hackers have hit major super funds. A cyber expert explains how to stop it happening again – https://theconversation.com/hackers-have-hit-major-super-funds-a-cyber-expert-explains-how-to-stop-it-happening-again-253835

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: Why was South Africa’s ambassador to the US expelled? A view of the Ebrahim Rasool affair

    Source: The Conversation – Africa – By Peter Vale, Senior Research Fellow, Centre for the Advancement of Scholarship, University of Pretoria., University of Pretoria

    In a rare move, the Trump administration expelled Ebrahim Rasool, South Africa’s ambassador to Washington, in mid-March 2025. In a post on X, US secretary of state Marco Rubio accused Rasool of hating the US and President Donald Trump, and said the ambassador was “no longer welcome in our great country”. The expulsion came after comments Rasool had made during a webinar organised by a South African think-tank, the Mapungubwe Institute for Strategic Studies. Rasool had said he thought that Trump was “mobilising a supremacism” and trying to “project white victimhood as a dog whistle” as the white population faced becoming a minority in the US.

    Relations between the two countries had reached a new low in the first weeks of the Trump administration. Trump had lashed out at South Africa for taking Israel to the International Court of Justice on accusations of genocide in Gaza; frozen all funding to South Africa; and offered asylum to white Afrikaners from South Africa, emboldening fringe far-right groups in the country. Peter Vale, regarded as an authority on South Africa’s place in the world, answers questions about the ambassador’s expulsion.

    What was your initial reaction to the Rasool appointment?

    I know and respect Ebrahim Rasool – we worked together at the University of the Western Cape 30 years ago – and I also thought he had done a fine job as ambassador to the US during the Obama years.

    Remember, his appointment under the Trump administration was announced a week after the November poll. Preparations for this would have been months in the making. So, one question was, did the South African government think Joe Biden would win? If so, they were not following the polls very closely. South Africa’s relations with the US under Biden, although at times testy, were managable and Rasool was familiar with the individuals responsible for their making.

    More importantly, both Rasool and the Department of International Relations and Cooperation seemed to ignore the ancient Greek philosopher Heraclitus’ warning:

    Never step into the same river twice, for it is not the same river, and he is not the same man.

    Politics in the US has changed in paradigmatic proportions since Obama.

    Then there was the fact that Rasool’s politics are rooted at the sharpest edge of the African National Congress: the United Democratic Front faction. Speaking plainly in the language of the country’s streets was the gift the United Democratic Front gave national politics. It was the most important internal anti-apartheid movement in the 1980s, bringing together youth, student and civic organisations.

    Nevertheless, this, the language of the heart (as we might call it), has been eclipsed by the rise of techno-speak of the 2020s – a language that consists of buzzwords, esoteric language, or technical jargon and has become a kind of diplo-speak: diplomatic language in which the careful use of euphemism and noncontroversial language obscures points that might cause contention. Both bedevil South Africa’s domestic politics and mute the country’s foreign policy because racial justice, gender equality and compensation for colonialism seemingly have no place in everyday political discourse.

    What happened at the Mapungubwe seminar?

    The fracas arose during a virtual seminar organised by a leading South African think-tank which discussed the deepening tension in the relations between Pretoria and Washington.

    The late South African politician Frederik van Zyl Slabbert, who was brilliant with words, used to distinguish between (what he called) a conspiracy and a cock-up. Sometimes, however, it can be a mix of both.

    I think that Rasool was confounded by the audience to which he spoke – was it local or was it local and foreign?

    If there was deceit in the gathering itself, this was not to Rasool’s account. This points instead to a journalist looking to trip up any position South Africa took in the matter seemingly to advance his career. This is said to be the Breitbart journalist Joel Pollack, who made no secret of his desire to be the US ambassador in South Africa. He was registered as “Anonymous” on the webinar call. He did not disclose his name, or profession, when he asked Rasool a question.

    In my opinion, disclosure is a professional responsibility.

    Interestingly, there is no indication that the meeting was operating under the well-known Chatham House Rule by which

    participants are free to use the information received, but neither the identity nor the affiliation of the speaker(s), nor any other participant, may be revealed.

    Although not without its critics, myself included, this rule binds participants to non-disclosure by creating a safe space for candid and honest discussion.

    Where does the responsibility of an ambassador lie?

    The consensus among observers and commentators that’s emerged since the expulsion is that it was Rasool’s responsibility to hold his tongue – a kind of golden rule in diplomacy.

    There is another way of thinking about this.

    There have been many cases where the professional responsibility of diplomatic representation should follow a higher standard than that set by the incumbent government.

    This choice faced diplomats in the country during apartheid. So, for instance, in 1986, the apartheid government expelled the Swedish ambassador following that country’s strong opposition to apartheid. There were other expulsions, too. These moves were part of the broader international pressure surrounding apartheid, where responsibility of the diplomats shifted from the minority incumbent government to the country’s people.

    However, most famously, this understanding emerged in the writing of Thomas Paine, the American pamphleteer, that Benjamin Franklin (then the ambassador of the fledgling United States to Paris) was “not the diplomat of a Court, but (that the Ambassador) represented MAN (KIND)”.

    This intervention is regarded as the first recognition that human – as opposed to state – rights enjoyed currency in international relations.

    The age of turbulence through which we live has further muddied this water.

    What do you make of the reaction to Rasool’s explusion?

    A cacophony of voices, both within and without the country, have debated the pros and cons of the American decision.

    Much has been predictable in content and source. Some garbled. Former South African president Thabo Mbeki was schoolmasterish during a lecture he gave following Rasool’s expulsion, but he reminded the country of the tremendous power that ambassadors had at hand.

    Of concern to those with an ethical interest in international relations was that the trope “the national interest” appeared again and again and that, as it did so, the form it took was economic. So, it is in the national interest that South Africa “grow the economy”, “create jobs” and “fight HIV” with American money.

    Nevertheless, le affaire Rasool has reminded South Africans that the country also has other “national interests” like fighting climate change and defending human rights worldwide.

    Peter Vale 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. Why was South Africa’s ambassador to the US expelled? A view of the Ebrahim Rasool affair – https://theconversation.com/why-was-south-africas-ambassador-to-the-us-expelled-a-view-of-the-ebrahim-rasool-affair-253640

    MIL OSI – Global Reports –

  • MIL-OSI: NOTICE OF DIGITALIST GROUP PLC’S ANNUAL GENERAL MEETING

    Source: GlobeNewswire (MIL-OSI)

    Digitalist Group Plc                                                                 4 April 2025 at 09:00

    NOTICE OF DIGITALIST GROUP PLC’S ANNUAL GENERAL MEETING

    Notice is given to the shareholders of Digitalist Group Plc (“Company”) of the Annual General Meeting to be held on Tuesday 29 April 2025 at 4 p.m. at the address Siltasaarenkatu 18-20 C, 00530 Helsinki, Finland. The reception of persons who have registered for the meeting and the distribution of voting tickets will commence at 3.15 p.m. Coffee will be served before the meeting to participants in the meeting.

    A. MATTERS ON THE AGENDA OF THE GENERAL MEETING

    The following matters will be considered at the General Meeting:

    1. Opening of the meeting
    1. Calling the meeting to order
    1. Election of persons to scrutinise the minutes and to supervise the counting of votes
    1. Recording the legality of the meeting
    1. Recording the attendance at the meeting and adoption of the list of votes
    1. Presentation of the financial statements, the report of the Board of Directors and the auditor’s report for 2024
    1. Adoption of the financial statements
    1. Resolution on the use of the loss shown on the balance sheet and on the distribution of assets

    The Board of Directors proposes that the loss EUR −5,520,249.94 indicated by the financial statements for 2024 be recorded in the Company’s profit and loss account, and that no dividend be paid to shareholders for the financial period 2024.

    1. Resolution on the discharge of the members of the Board of Directors and the CEO from liability for the financial period 1 January 2024 to 31 December 2024
    1. Consideration of the remuneration report for governing bodies

    The Board of Directors proposes that the remuneration report for the Company’s governing bodies for 2024 be approved. Pursuant to the Finnish Limited Liability Companies Act, the resolution on the remuneration report is advisory.

    The remuneration report is available on Digitalist Group Plc’s website at https://digitalistgroup.com/agm.

    1. Resolution on the remuneration of the members of the Board of Directors and the grounds for compensation of travel expenses

    The Company’s largest shareholder, Turret Oy Ab, whose total share of the Company’s shares and votes is approximately 48.55 per cent, proposes that the fees paid to the members of the Board of Directors to be elected remain unchanged and would thus be as follows:

    • Chair of the Board: EUR 40,000/year and EUR 500/meeting
    • Deputy Chair of the Board: EUR 30,000/year and EUR 250/meeting
    • Other members of the Board of Directors: EUR 20,000/year and EUR 250/meeting
    • For the meetings of possible Board committees, EUR 500/meeting to the Chair and EUR 250/meeting to a member

    It is proposed that travel expenses be reimbursed in accordance with the Company’s regulations concerning travel reimbursements.

    1. Resolution on the number of Members of the Board of Directors

    According to the Articles of Association, the Company’s Board of Directors shall have at least five (5) and at most nine (9) members.

    The Company does not have a Nomination Committee. The Company’s largest shareholder Turret Oy Ab, whose total share of the Company’s shares and votes is approximately 48.55 per cent, proposes that six (6) ordinary members be elected to the Board of Directors.

    1. Election of the Members of the Board of Directors

    The Company does not have a Nomination Committee. The Company’s largest shareholder Turret Oy Ab, whose total share of the Company’s shares and votes is approximately 48.55 per cent, proposes that the current members of the Company’s Board of Directors, Paul Ehrnrooth, Andreas Rosenlew, Esa Matikainen, Peter Eriksson, Johan Almquist and Magnus Wetter be re-elected as members of the Board.

    More detailed personal information and the evaluation of the independence of the proposed members of the Board are available on the Company’s website at https://investor.digitalistgroup.com/fi/investor/governance/board-of-directors. If the proposal is accepted, the Company would not follow the recommendation number 8 of the Securities Market Association’s Finnish Corporate Governance Code 2020 applicable during the transition period, which states that the board must include both genders, with the rationale being overall consideration.

    1. Resolution on the remuneration of the auditor

    The Board of Directors proposes that remuneration for the auditor be paid against the auditor’s invoice approved by the Company.

    1. Election of the auditor

    The Board of Directors proposes that KPMG Oy Ab, who have named Authorized Public Accountant Miika Karkulahti as the principal auditor, be re-elected as the Company’s auditor.

    1. Authorisation of the Board of Directors to decide on share issues and on granting special rights entitling to shares

    The Board of Directors proposes that the General Meeting authorise the Board to decide on a paid share issue and on granting option rights and other special rights entitling to shares that are set out in Chapter 10 Section 1 of the Finnish Limited Liability Companies Act, or on the combination of all or some of the aforementioned instruments in one or more tranches on the following terms and conditions:

    The total number of the Company’s treasury shares and new shares to be issued under the authorisation may not exceed 346,715,227, which corresponds to approximately 50 per cent of all the Company’s shares at the time of convening the Annual General Meeting.

    Within the limits of the aforementioned authorisation, the Board of Directors may decide on all terms and conditions applied to the share issue and to the special rights entitling to shares, such as that the payment of the subscription price may take place not only by cash but also by setting off receivables that the subscriber has from the Company.

    The Board of Directors shall be entitled to decide on crediting the subscription price either to the Company’s share capital or, entirely or in part, to the invested unrestricted equity fund.

    The share issue and the issuance of special rights entitling to shares may also take place in a directed manner in deviation from the pre-emptive rights of shareholders if there is a weighty financial reason for the Company to do so, as set out the Limited Liability Companies Act. In such a case, the authorisation may be used to finance corporate acquisitions or other investments related to the operations of the Company as well as to maintain and improve the solvency of the Group and to carry out an incentive scheme.

    The authorisation is proposed to be effective until the Annual General Meeting held in 2026, yet no further than until 30 June 2026.

    The decision concerning the authorisation requires a qualified majority of at least two thirds of the votes cast and shares represented at the meeting.

    1. Authorising the Board of Directors to decide on the acquisition and/or on the acceptance as pledge of the Company’s treasury shares

    The Board of Directors proposes that the Annual General Meeting authorise the Board to decide on acquiring or accepting as pledge, using the Company’s distributable funds, a maximum of 69,343,000 treasury shares, which corresponds to approximately 10 per cent of the Company’s total shares at the time of convening the Annual General Meeting. The acquisition may take place in one or more tranches. The acquisition price shall not exceed the highest market price of the share in public trading at the time of the acquisition.

    In executing the acquisition of treasury shares, the Company may enter into derivative, share lending or other contracts customary in the capital market, within the limits set out in laws and regulations. The authorisation entitles the Board to decide on an acquisition in a manner other than in a proportion to the shares held by the shareholders (directed acquisition).

    The Company may acquire the shares to execute corporate acquisitions or other business arrangements related to the Company’s operations, to improve its capital structure, or to otherwise further transfer the shares or cancel them.

    The authorisation is proposed to include the right for the Board of Directors to decide on all other matters related to the acquisition of shares. The authorisation is proposed to be effective until the Annual General Meeting held in 2026, yet no further than until 30 June 2026.

    The decision concerning the authorisation requires a qualified majority of at least two thirds of the votes cast and shares represented at the meeting.

    1. Resolution on possible measures for improving the Company’s financial situation

    According to Chapter 20 Section 23(3) of the Limited Liability Companies Act, if the Board of Directors of a public limited company notices that the company’s equity is less than half of the share capital, the Board of Directors shall, without delay, draw up financial statements and the report of the Board of Directors to ascertain the financial position of the company. If, according to the balance sheet, the equity of the company is less than half of the share capital, the Board of Directors shall, without delay, convene a general meeting to consider measures to remedy the financial position of the company.

    According to section 7 of the notice of the General Meeting, the financial statements for the financial period 1 January 2024-31 December 2024 to be presented to the General Meeting show that the Company’s equity is less than half of the Company’s share capital provided that subordinated capital loans are disregarded in the assessment.

    From the Report of the Board of Directors in the financial statements of the Company appears the conversion of the entire principal and interest of Convertible Bonds 2021/1, 2021/2, 2021/3 and 2021/4, announced by the Company on 30 December 2024, into subordinated loans in accordance with Chapter 12 of the Limited Liability Companies Act, measures that have supported and will continue to support the Company’s balance sheet and solvency.

    The Board of Directors of the Company does not immediately propose any other measures to remedy the Company’s financial position, but the Company actively evaluates other possibilities and means to support the Company’s financial position.

    1. Closing of the Meeting

    B. DOCUMENTS OF THE GENERAL MEETING

    The following documents will be made available to the shareholders on Digitalist Group Plc’s website at https://digitalistgroup.com/agm no later than three weeks prior to the General Meeting: the aforementioned proposals on the agenda for the meeting, Digitalist Group Plc’s financial statements, the report of the Board of Directors, the auditor’s report, the remuneration report for 2024 and this notice. The said documents will also be available at the General Meeting. In addition, copies of the said documents and of this notice will be mailed to shareholders on request. Otherwise, no separate notice of the General Meeting will be sent to the shareholders. The minutes of the General Meeting will be available on the above-mentioned website at the latest on 13 May 2025.

    C. INSTRUCTIONS FOR THE PARTICIPANTS IN THE GENERAL MEETING

    1. Right to participate and registration

    Shareholders who are on the record date of the General Meeting, 15 April 2025, registered in the Company’s shareholders’ register, maintained by Euroclear Finland Ltd, are entitled to attend the meeting. Shareholders whose shares are registered on their personal Finnish book-entry accounts are registered in the shareholders’ register of the Company.

    Shareholders who wish to attend the General Meeting must give advance notice of their attendance, and the Company must receive such notice, no later than by 4 p.m. on 24 April 2025. Registration for the General Meeting takes place:

    1. Via Company’s website at https://digitalistgroup.com/agm in accordance with the instructions provided therein;
    2. by email to yhtiokokous@digitalistgroup.com;
    3. by mail to Digitalist Group Plc/General Meeting, Siltasaarenkatu 18-20, 00530 Helsinki, Finland;
    4. by telephone between 9:00 and 16:00 to Aila Mettälä at +358 40 531 0678;

    When giving an advance notice of attendance, please state the shareholder’s name, date of birth / business ID, address, telephone number and the name of any assistant or proxy representative and date of birth of the proxy representative. Personal data provided to the Company by its shareholders is used only in connection with the General Meeting and with processing the necessary registrations related to the meeting.

    1. Proxy representative and proxy documents

    A shareholder may participate in the General Meeting, and exercise their rights at the General Meeting, by way of proxy representation.

    The shareholder’s proxy representative must produce a dated proxy document or otherwise in a reliable manner demonstrate their right to represent the shareholder. If a shareholder participates in the General Meeting through several proxy representatives representing the shareholder with shares on different securities accounts, the shares by which each proxy representative represents the shareholder shall be identified in connection with the registration for the General Meeting.

    Please furnish the Company with any proxy documents as an email attachment (e.g. in PDF) or by mail, using the above-mentioned contact information for registration, before the last date for registration. In addition to submitting proxy documents, shareholders or their proxy representatives must ensure that they have registered for the General Meeting in the manner described above in this notice.

    Shareholders can also use the electronic Suomi.fi authorization service instead of a traditional proxy document. In this case, the shareholder authorizes a proxy that he/she/it nominates in the Suomi.fi authorization service on the website suomi.fi/e-authorizations (using the mandate theme “Representation at the General Meeting”). In connection with the General Meeting service, any person so authorized must identify themselves with strong electronic identification in connection with the registration, after which the electronic authorization will be checked automatically. Strong electronic identification works with online banking credentials or Mobile ID. More information on the electronic authorization service is available on the website suomi.fi/e-authorizations.

    1. Holders of nominee-registered shares

    A holder of nominee registered shares has the right to participate in the General Meeting by virtue of such shares based on which they would be entitled to be registered in the shareholders’ register of the Company, maintained by Euroclear Finland Ltd, on 15 April 2025.

    Holders of nominee-registered shares are advised to contact their asset managers for information on how to enter the shareholders’ register, on the issuance of proxies and on submitting their notice of attendance in the General Meeting well before the meeting. The account management organisation of the custodian bank must register any holder of nominee-registered shares who wishes to participate in the General Meeting into the temporary shareholders’ register of the Company by 10 a.m. on 24 April 2025 at the latest.

    1. Other instructions and information

    The language of the meeting is mainly Finnish.

    Pursuant to Chapter 5 Section 25 of the Finnish Limited Liability Companies Act, a shareholder who is present at the General Meeting has the right to request information with respect to the matters to be considered at the meeting.

    Changes in shareholding after the record date of the General Meeting will not affect the right to participate in the General Meeting or the number of voting rights held by a shareholder in the meeting.

    On the date of this notice of the General Meeting the total number of shares in Digitalist Group Plc, and votes represented by such shares, is 693,430,455.

    In Helsinki on 4 April 2025

    DIGITALIST GROUP PLC
    Board of Directors

    For further information, please contact:

    CEO Magnus Leijonborg, tel. +46 76 315 8422, magnus.leijonborg@digitalistgroup.com

    Chair of the Board: Esa Matikainen, tel. +358 40 506 0080, esa.matikainen@digitalistgroup.com

    Distribution:

    Nasdaq Helsinki Ltd
    Main media
    https://digitalist.global

    The MIL Network –

  • MIL-OSI: Quadient Recognized in Inaugural 2025 Gartner® Magic Quadrant™ for Accounts Payable Applications

    Source: GlobeNewswire (MIL-OSI)

    Paris

    Quadient (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, announces it has been recognized in the first ever 2025 Gartner Magic Quadrant for Accounts Payable Applications. A Gartner Magic Quadrant is a culmination of research in a specific market, giving a wide-angle view of the relative positions of the market’s competitors.1

    The cloud-based Quadient AP solution automates and streamlines accounts payable (AP) processes, eliminating tedious manual data entry and reducing errors and processing time through the power of AI and automation. Additionally, it enhances visibility into financial workflows, enabling better decision-making and improved cash flow management, as well as ensuring compliance and strengthening security.

    “We believe our inclusion in the inaugural Gartner Magic Quadrant for Accounts Payable Applications reflects Quadient’s commitment to transforming AP with AI-driven automation that eliminates labor-intensive manual workflows, accelerates processes and strengthens compliance,” said Chris Hartigan, chief solution officer, Digital, Quadient. “Quadient’s digital automation SaaS offering, including Quadient AP, delivers unquestionable customer benefits—from cost savings to greater user experience and data security—empowering financial teams in highly regulated industries to make AP faster, easier and more collaborative.”

    Beyond accounts payables, Quadient’s SaaS digital automation platform also streamlines accounts receivable, e-invoicing, customer communications and document automation management. For more information about Quadient AP, visit www.quadient.com/en/ap-automation.

    Gartner Disclaimer
    Gartner, Magic Quadrant for Accounts Payable Applications,  Mike Helsel, Miles Onafowora, et al., 19 March 2025. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

    About Quadient®
    Quadient is a global automation platform powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing. For more information about Quadient, visit http://www.quadient.com/en/.

    Contacts

    Sandy Armstrong, Sterling Kilgore   Joe Scolaro, Quadient         
    VP of Media & Communications   Global Press Relations Manager
    +1-630-699-8979   +1 203-301-3673
    sarmstrong@sterlingkilgore.com   j.scolaro@quadient.com

    1 Gartner Research Methodologies, Gartner Magic Quadrant, 28 March 2025
    www.gartner.com/en/research/methodologies/magic-quadrants-research

    Attachment

    The MIL Network –

  • MIL-OSI: Subsea7 awarded contract in the US

    Source: GlobeNewswire (MIL-OSI)

    Luxembourg – 4 April 2025 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announced today the award of a sizeable1 contract by Shell Offshore Inc. for the Sparta deepwater development in the US.

    The project involves the transportation and installation of a floating production system (FPS) at Garden Banks block 959, which is located off the southeastern coast of Louisiana at water depths of up to 1,635 metres. 

    Project management and engineering activities will begin immediately at Subsea7’s office in Houston, Texas, with offshore operations expected to start in 2027.

    Craig Broussard, Senior Vice President for Subsea7 Gulf of Mexico, said, “We are proud to continue our collaboration with Shell in the US, building on past projects, including the recent Vito development. We look forward to playing a key role in the successful delivery of the Sparta project.” 

    1. Subsea7 defines a sizeable contract as being between $50 million and $150 million.

    *******************************************************************************
    Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.

    Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.

    *******************************************************************************

    Contact for investment community enquiries:
    Katherine Tonks
    Investor Relations Director
    Tel +44 20 8210 5568
    ir@subsea7.com

    Contact for media enquiries:
    Ashley Shearer
    Communications Manager
    Tel +1 713 300 6792
    ashley.shearer@subsea7.com

    Forward-Looking Statements: This document may contain ‘forward-looking statements’ (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘future’, ‘goal’, ‘intend’, ‘likely’ ‘may’, ‘plan’, ‘project’, ‘seek’, ‘should’, ‘strategy’ ‘will’, and similar expressions. The principal risks which could affect future operations of the Group are described in the ‘Risk Management’ section of the Group’s Annual Report and Consolidated Financial Statements. Factors that may cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limited to): (i) our ability to deliver fixed price projects in accordance with client expectations and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (iii) our ability to recover costs on significant projects; (iv) capital expenditure by oil and gas companies, which is affected by fluctuations in the price of, and demand for, crude oil and natural gas; (v) unanticipated delays or cancellation of projects included in our backlog; (vi) competition and price fluctuations in the markets and businesses in which we operate; (vii) the loss of, or deterioration in our relationship with, any significant clients; (viii) the outcome of legal proceedings or governmental inquiries; (ix) uncertainties inherent in operating internationally, including economic, political and social instability, boycotts or embargoes, labour unrest, changes in foreign governmental regulations, corruption and currency fluctuations; (x) the effects of a pandemic or epidemic or a natural disaster; (xi) liability to third parties for the failure of our joint venture partners to fulfil their obligations; (xii) changes in, or our failure to comply with, applicable laws and regulations (including regulatory measures addressing climate change); (xiii) operating hazards, including spills, environmental damage, personal or property damage and business interruptions caused by adverse weather; (xiv) equipment or mechanical failures, which could increase costs, impair revenue and result in penalties for failure to meet project completion requirements; (xv) the timely delivery of vessels on order and the timely completion of ship conversion programmes; (xvi) our ability to keep pace with technological changes and the impact of potential information technology, cyber security or data security breaches; (xvii) global availability at scale and commercially viability of suitable alternative vessel fuels; and (xviii) the effectiveness of our disclosure controls and procedures and internal control over financial reporting. Many of these factors are beyond our ability to control or predict. Given these uncertainties, you should not place undue reliance on the forward-looking statements. Each forward-looking statement speaks only as of the date of this document. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 4 April 2025 at 08:00 CET.

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  • MIL-OSI: NOTICE OF ANNUAL GENERAL MEETING OF JLT MOBILE COMPUTERS

    Source: GlobeNewswire (MIL-OSI)

    The shareholders of JLT Mobile Computers AB (publ) are hereby invited to the Annual General Meeting on Wednesday, May 7, 2025, at 4:00 pm at PM & Vänner Hotel, Västergatan 10 in Växjö, Sweden.

    RIGHT TO PARTICIPATE 

    The right to participate in the meeting is granted to those who are registered as shareholders in the share register maintained by Euroclear Sweden AB as of Monday, April 28, 2025, and who have notified their intention to participate no later than Wednesday, April 30, 2025.

    Shareholders who have their shares registered in the name of a nominee, through a bank or other nominee, must re-register the shares in their own name to have the right to participate in the meeting. Such re-registration (so-called voting rights registration), which may be temporary, must be completed by Monday, April 28, 2025, which means that shareholders wishing such re-registration must notify the nominee well in advance of this date. Voting rights registrations completed no later than April 30, 2025, will be considered in the preparation of the share register.

    The company has a total of 28,712,000 shares and votes. The company holds no own shares.

    NOTIFICATION OF PARTICIPATION

    Notification can be made in writing to JLT Mobile Computers AB (publ), Isbjörnsvägen 3, 352 45 Växjö (mark the envelope “Annual General Meeting”), via email to rebecka.johansson@jltmobile.com, or by phone at 0470-53 03 00 (weekdays 9:00–16:00). The notification should include the name, personal ID number or organization number, number of shares, daytime phone number, and, if applicable, the number of assistants (maximum two) intended to accompany the shareholder at the meeting. If a shareholder intends to be represented by a proxy, the power of attorney and other authorization documents should be attached to the notification. Proxy forms are available on the company’s website, www.jltmobile.com/investor-relations, and can also be ordered from the company at the above address.

    PROPOSED AGENDA

    1. Opening of the meeting
    2. Election of chairman of the meeting
    3. Preparation and approval of the voting list
    4. Approval of the agenda for the meeting
    5. Election of one or two adjusters
    6. Determination of whether the meeting has been duly convened
    7. Presentation of the annual report and auditor’s report as well as the consolidated financial statements and consolidated auditor’s report
    8. Resolutions on:
      a) Adoption of the income statement and balance sheet as well as the consolidated income statement and consolidated balance sheet
      b) Appropriation of the company’s profit according to the adopted balance sheet
      c) Discharge from liability for the board members and the CEO
    9. Determination of the number of board members and deputy board members as well as auditors and deputy auditors
    10. Determination of fees for the board and the auditor
    11. Election of the board and auditor
    12. Proposal for resolution on the nomination committee
    13. The board’s proposal for resolution on authorization to issue shares
    14. Closing of the meeting

    DIVIDEND (ITEM 8b)

    The board proposes that no dividend be paid for the financial year 2024 and that the company’s profit be carried forward.

    BOARD OF DIRECTORS AND AUDITOR ETC. (ITEMS 2, 9-11) 

    The company’s nomination committee, consisting of Emil Hjalmarsson (AB Grenspecialisten), chairman, Jan Olofsson (own holding), and Wilhelm Gruvberg (Alcur Fonder), proposes:

    • that Ola Blomberg be elected chairman of the meeting,
    • that the board consists of six members without deputies,
    • that the company has one auditor without deputies,
    • that the board’s remuneration be set at a total of SEK 700,000, of which SEK 200,000 to the chairman of the board and SEK 100,000 each to the other members,
    • that the auditor’s fee be paid according to an approved invoice,
    • that the board members Ola Blomberg, Jan Sjöwall, Jessica Svenmar, Per Ädelroth, and Karl Hill be re-elected and that Tommy Svensson be newly elected as a board member for the period until the end of the next annual general meeting,
    • that Ola Blomberg be re-elected as chairman of the board, and
    • that Luminor Revision AB be elected as the company’s auditor for the period until the end of the next annual general meeting, with Tommy Jonasson intended to be the principal auditor.

    Information about the board member proposed for new election

    Tommy Svensson has extensive experience in board work and corporate management through strategic work, corporate governance, and leadership in both international and national environments. Tommy Svensson has solid business and financial knowledge through his background as CFO for companies in both private equity and public environments. Tommy is currently the CEO of TSS Consult & Invest AB and holds a bachelor’s degree in Business Administration and Auditing.

    Tommy Svensson’s previous experience includes roles such as CFO for Johbeco AB, Hemtex AB, KappAhl AB, Vårdapoteket i Norden AB, Jetshop AB, among others. Additionally, he has acted as an advisor to several companies and in acquisitions and mergers in the Nordic market. Tommy Svensson has completed board training and has held several board assignments over the past 20 years.

    Tommy Svensson holds 1,516,000 shares in the company.

    NOMINATION COMMITTEE (ITEM 12) 
    The company’s major shareholders propose that the company have a nomination committee consisting of three members, with one member appointed by each of the three largest shareholders in the company. The chairman of the nomination committee shall, unless the members agree otherwise, be the member appointed by the largest shareholder. The nomination committee shall have the opportunity to co-opt the chairman of the company’s board.

    The nomination committee shall, ahead of the Annual General Meeting 2026, be constituted based on shareholder statistics as of the last banking day in September 2025 and other shareholder information available to the company at that time. The chairman of the company’s board shall convene an inaugural meeting for the nomination committee when shareholder statistics are available. If, during the nomination committee’s mandate period, one or more of the shareholders who appointed members to the nomination committee no longer belong to the three largest shareholders, the members appointed by these shareholders shall resign, and new shareholders in order of size shall be offered the opportunity to appoint members, however, only three shareholders in order of size need to be consulted.

    Unless special reasons exist, no changes shall be made to the composition of the nomination committee if only marginal changes in voting rights have occurred or if the change occurs later than three months before the Annual General Meeting.

    The majority of the nomination committee members shall be independent in relation to the company and the company management. The CEO or other person from the company management shall not be a member of the nomination committee. At least one of the nomination committee members shall be independent in relation to the largest shareholder or group of shareholders acting in concert regarding the company’s management. Board members shall not constitute a majority of the nomination committee members. If more than one board member is included in the nomination committee, at most one of them may be dependent in relation to the company’s major shareholders.

    No remuneration shall be paid to the nomination committee members. If necessary, the company shall cover reasonable costs for external consultants deemed necessary by the nomination committee to fulfill its assignment.

    The composition of the nomination committee shall be announced through a separate press release as soon as the nomination committee is appointed and no later than six months before the Annual General Meeting. The information shall also be available on the company’s website, where it shall also be stated how shareholders can submit proposals to the nomination committee. The nomination committee shall prepare proposals on the following matters to be presented to the Annual General Meeting 2025 for resolution:

    • proposal for chairman of the meeting;
    • proposal for the board;
    • proposal for chairman of the board;
    • proposal for remuneration and other compensation for board assignments to each of the board members and compensation for committee work;
    • proposal for auditor;
    • proposal for remuneration to the company’s auditor; and
    • proposal for instructions for the nomination committee ahead of the Annual General Meeting 2027.

    AUTHORIZATION TO ISSUE SHARES (ITEM 13)

    The board proposes that the board be authorized, until the next Annual General Meeting, on one or more occasions, to decide on the issuance of up to 2,871,200 shares, which corresponds to 10 percent of the number of shares in the company as of the date of the Annual General Meeting. The board shall have the right to decide on deviations from the shareholders’ preferential rights and provisions regarding non-cash issues, set-off issues, or other conditions. The issue price for the new shares shall be determined based on the market price of the share at the respective issue occasion.

    The purpose of the authorization and the reason for the possible deviation from the shareholders’ preferential rights is to enable the company to appropriately raise capital for financing its operations and for carrying out corporate acquisitions. The CEO is authorized to make formal adjustments to the decision that may be necessary in connection with its registration.

    DOCUMENTATION ETC. 

    The annual report and other decision-making materials are available at the company and on the company’s website, www.jltmobile.com, no later than three weeks before the meeting and will be sent to shareholders who request it and provide their postal address.

    Shareholders are reminded of their right to request information according to Chapter 7, Section 32 of the Swedish Companies Act.

    For information on how your personal data is processed, see Euroclear’s Privacy Policy.
    Privacy-notice-bolagsstammor-engelska.pdf If you have any questions regarding our processing of personal data, you can contact us via email at info@jltmobile.com

    The company’s organization number is 556239-4071 and headquarter is based in Växjö, Sweden.

    Växjö April 2025
    The board directors of JLT Mobile computers AB (publ)

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  • MIL-OSI: Indosuez Wealth Management plans to acquire Banque Thaler

    Source: GlobeNewswire (MIL-OSI)

    Press release

    Geneva / Paris / Brussels, 4 April 2025

    Indosuez Wealth Management plans to acquire Banque Thaler

    Indosuez Wealth Management, a subsidiary of the Crédit Agricole Group, has announced that its entity in Switzerland has signed an agreement to purchase the entire capital of Banque Thaler, a Swiss banking institution recognised for the excellence of its services and its long-term expertise in wealth management.

    This acquisition is fully in line with Indosuez Wealth Management’s development strategy, strengthening its position in the Swiss market, the global hub for wealth management, where Indosuez has been present since 1876. Banque Thaler, founded in 1982, is renowned for the excellence of its services and its long-term expertise in wealth management.

    With this acquisition, Banque Thaler and Indosuez clients will have access to a broader range of products and expertise. In particular, Banque Thaler’s clients will be able to benefit from the Group’s solidity, its international network and its multiple capabilities in financing, corporate finance, fund servicing and asset management.

    For Jacques Prost, Chief Executive Officer of Indosuez Wealth Management: “This acquisition strengthens our position in Switzerland and illustrates our determination to provide our clients with solutions that are increasingly tailored to their needs. Indosuez is pursuing its growth strategy in a sector undergoing consolidation and is now a major stakeholder in wealth management in Europe.” Marc-André Poirier, Chief Executive Officer of Indosuez in Switzerland, adds: “We are delighted to welcome Banque Thaler. Following record revenue in 2024, this acquisition will bring our assets under management to nearly €50 billion1. We will work with Banque Thaler’s teams to make this acquisition a success for both clients and employees.”

    Dirk Eelbode, Chief Executive Officer of Banque Thaler: “Indosuez Wealth Management in Switzerland is the ideal partner for Banque Thaler. What our management can offer will not only be maintained but enhanced thanks to the substantial resources made available by a major banking group with exceptional financial strength. This can only benefit our clients. At Indosuez we also find the entrepreneurial spirit that characterises Banque Thaler, and this is a great opportunity for all our employees to join an ambitious growth project. These are all positives that will contribute to our continued goal of being the leading player in Switzerland for our clients.”

    The finalisation of the transaction remains subject to the prior approval of the relevant supervisory authorities, and is expected to be completed in the second half of 2025. This acquisition would bring Indosuez Wealth Management’s total assets under management to nearly €220 billion.
    The impact on Crédit Agricole S.A.’s CET1 ratio would be limited.

    ****

    Indosuez Wealth Management contacts

    Indosuez Wealth Management: Jenny Sensiau I jenny.sensiau@ca-indosuez.com I +33 7 86 22 15 24 
    Indosuez Wealth Management: Melinda Raverdy | melinda.raverdy@ca-indosuez.ch | +41 79 258 7829

    About Indosuez Wealth Management

    Indosuez Wealth Management is the global wealth management brand of the Crédit Agricole Group, the world’s 9th largest bank by balance sheet (The Banker 2024).

    For over 150 years, Indosuez Wealth Management has been helping major private clients, families, entrepreneurs and professional investors to manage their private and professional assets. The bank offers a customised approach enabling each of its clients to preserve and develop their wealth in line with their aspirations. Its teams offer a continuum of services and products including Advisory & Financing, Investment Solutions, Fund Servicing & Technology and Banking Solutions.

    Indosuez Wealth Management employs more than 4,500 people in 16 territories around the world: in Europe (Belgium, France, Germany, Italy, Luxembourg, Netherlands, Portugal, Monaco, Spain and Switzerland), Asia-Pacific (Hong Kong SAR, New Caledonia and Singapore), the Middle East (Dubai, Abu Dhabi) and Canada (representative office).

    With €215 billion in client assets at the end of December 2024, Indosuez Wealth Management is one of Europe’s leading wealth management companies.

    Find out more at https://ca-indosuez.com/.

    About Indosuez in Switzerland

    Indosuez Wealth Management is one of Switzerland’s leading financial institutions, and is now one of the country’s top three foreign banks.
    The bank in Switzerland handles wealth management, transactional commodity financing and commercial banking. Its roots date back to 1876, when it was established in Geneva. Its teams include more than 800 specialists based in Geneva, Lugano and Zurich, as well as in Asia (Hong Kong and Singapore) and in the Middle East (Abu Dhabi and Dubai). They combine their knowledge of the local environment with the extensive expertise and scope for action of the global network of Indosuez, Crédit Agricole CIB and the Crédit Agricole Group.

    The Swiss platform is in charge of developing Indosuez Wealth Management’s activities in Switzerland, the Middle East and Asia.

    Find out more at www.ca-indosuez.com and at https://switzerland.ca-indosuez.com/

    About Banque Thaler
    Banque Thaler is a Swiss wealth management bank that became independent in 1999 and is mainly owned by its directors. Throughout its existence, it has stood out for its focus on a targeted client base and on its discretionary management services. Serving families and entrepreneurs, its management is based on dynamic asset allocation by integrating solid expertise in selecting alternative funds and private equity. The bank has offices in Geneva and Zurich.

    https://banquethaler.ch/

    1 For CA Indosuez (Switzerland) SA – Pro forma to date

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    The MIL Network –

  • MIL-OSI: SCOR SE placed under examination for facts alleged against its former chairman

    Source: GlobeNewswire (MIL-OSI)

    Press release
    4 April 2025 – N° 06

    SCOR SE placed under examination for facts alleged against its former chairman 

    SCOR SE has been placed under examination as a legal entity in connection with a judicial investigation in France related to facts attributed to an association which allegedly attempted to obstruct the acquisition of Partner Re by the Covéa group in 2022.

    SCOR SE has been placed under examination because of the alleged personal involvement of Denis Kessler in some of these facts, at a time when he was no longer SCOR SE’s legal representative, but the non-executive chairman of its board of directors.

    SCOR SE firmly denies having had any direct or indirect involvement in the acts of which this association is accused.

    This placement under examination in no way affects the Group’s ability to pursue its activities in the normal course of business.

    In any event, SCOR SE is presumed innocent, and vigorously denies any responsibility in connection with this matter.

    *

    *        *

    SCOR, a leading global reinsurer

    As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk,” SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society.

    The Group generated premiums of EUR 20.1 billion in 2024 and serves clients in more than 150 countries from its 37 offices worldwide.

    For more information, visit: www.scor.com

    		 Media Relations
    Alexandre Garcia
    media@scor.com

    Investor Relations
    Thomas Fossard
    InvestorRelations@scor.com

    Follow us on LinkedIn
     

    All content published by the SCOR group since January 1, 2024, is certified with Wiztrust. You can check the authenticity of this content at wiztrust.com.

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    The MIL Network –

  • MIL-OSI Russia: The Tenth Conference of the Digital Industry of Industrial Russia (CIPR)

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    The tenth conference of the Digital Industry of Industrial Russia (CIPR) will be held on June 3-6, 2025 – the main business event on the digital economy and technologies in Russia.

    All events within the framework of the 10th anniversary of the conference will be held in Nizhny Novgorod on the territory of the Nizhny Novgorod Fair and the youth center “Vysota”. The halls of the Main Fair House will also be used for the business program sessions. The exhibition with Russian IT solutions will be located in mirror pavilions, and a separate pavilion will be built for international participants; negotiations are underway on the participation of foreign companies from China, India, and the Middle East. A large-scale festival for participants and city residents will unfold on the street territory of the Nizhny Novgorod Fair.

    Since 2016, the topic of digital development has been on the periphery of the state and business agenda. At that time, interest in the digitalization of Russian industrial organizations was just emerging, and a platform was needed to unite representatives of government agencies, industry and IT – this is how the conference “Digital Industry of Industrial Russia” was born. Over 10 years, CIPR has grown from an industry project to an international event. The conference is attended by guests and market leaders from all regions of Russia and the countries of the EAEU, SCO and BRICS.

    Since 2022, the CIPR has been hosting a large technology festival, CIPR Tech Week, for young people, the DECIPRALAND art exhibition with the participation of digital artists from all over the world, cyber championships and phygital games that combine real and virtual competitions, and on the last day of the event, the CIPR exhibition opens its doors to guests and residents of the city.

    Today, CIPR is the main event on the digital economy in Russia, where strategically important government decisions are made, initiatives for the development of the IT industry are discussed, and ways to achieve the country’s technological sovereignty in systemically important areas of the economy are determined.

    CIPR promotes the formation of a global digital business environment and opens up broad opportunities for finding partners in the Russian and foreign high-tech markets. Traditionally, CIPR hosts international agreements, investment deals, and an exhibition of digital solutions and high-tech equipment for key industries, where companies demonstrate innovations in AI, cloud technologies, cybersecurity, smart city technologies, etc. The conference also promotes export support for Russian technological solutions.

    — For 10 years, CIPR has been creating a platform for effective dialogue between regulators and key market experts, and has also united the best intellectual IT resources of the country under its leadership. Now we have a responsible task – not only to present the anniversary conference as a reflection and systematization of valuable long-term experience in the digital environment, but also to form a vector for further development of the industry taking into account strategic initiatives and adaptation to changed scenarios of the global economic landscape, including ensuring dialogue with partner countries in the international market, — noted Olga Piven, director of the conference.

    Employees Research Center in the Field of Artificial Intelligence of NSU will take part in the upcoming conference. They also took part in the conference last year. The center has existed since 2023. The main goal of the Center is to develop and prepare for implementation a set of “smart city” technologies using artificial intelligence that would improve the quality of life of citizens and the efficiency of urban economy.

    The event is held with the support of the Government of the Russian Federation, the Ministry of Digital Development, Communications and Mass Media of the Russian Federation and the Government of the Nizhny Novgorod Region.

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

    MIL OSI Russia News –

  • MIL-OSI Security: 16 charged in sweeping Houston-based multimillion-dollar illegal gambling and money laundering conspiracy

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    “Operation Double Down” leads to seizure of over $16 million in currency, accounts, and assets, as well as arrest of illegal aliens

    HOUSTON – Several Houston-area residents are now in custody on various charges including conspiracy, operating illegal game rooms, bribery and money laundering in one of the largest ever law enforcement operations in the Southern District of Texas, announced U.S. Attorney Nicholas J. Ganjei.

    They are expected to make their initial appearances before U.S. Magistrate Judge Christina Bryan at 2 p.m.

    In addition to those indicted in the scheme, authorities also arrested 31 illegal aliens on various immigration and firearms charges during the operation April 2. One of those included an illegal alien who allegedly assaulted a law enforcement officer.

    The indictment, returned March 26 and unsealed upon the arrests, alleges Nizar Ali, 61, Richmond, and others allegedly conspired to own, operate or assist in the operation of illegal game rooms. All also conspired to conduct financial transactions to conceal and disguise the nature and source of the proceeds of the illegal gambling business, which totaled more than $22 million, according to the charges.

    More than 700 law enforcement officers from 18 agencies served a total of 45 search and 40 seizure warrants at locations throughout Houston and the surrounding area. The locations included 30 illegal game rooms with names such as El Portal and Yellow Building.

    During the operation, authorities recovered more than $4.5 million in cash as well as $5 million in property and vehicles, 2000 slot machines, 100 Rolex watches and eight firearms. Law enforcement also seized approximately $6.5 million from bank accounts and other financial institutions pursuant to the court-issued warrants.

    In addition to Ali, others taken into custody include Naeem Ali, 33, and Amer Khan, 68, both of Richmond; Ishan Dhuka, 33, and Sahil Karovalia, 32, both of Rosenberg; Sarfarez Maredia, 38, and Shoaib Maredia, 40, both of Sugar Land; Yolanda Figueroa, 40, Pasadena; Viviana Alvarado, 45, LaPorte; and Anabel Eloisa Guevarra, 46, Precela Solis, 27, Maria Delarosa, 53, Claudia Calderon, 37, and Lucia Hernandez, 34, all of Houston.

    Two others – Sayed Ali, 59, Richmond, and Stephanie Huerta, 35, Houston – are considered fugitives and warrants remain outstanding for their arrests.

    All are charged with conspiracy, operating an illegal gambling business and interstate travel in aid of racketeering which each carry possible prison terms of five years as well as conspiracy to commit money laundering which has a maximum 20-year possible prison term.

    Ali is also charged with 32 counts of federal program bribery for allegedly paying more than $500,000 to an undercover officer in an attempt to protect the illicit game rooms from law enforcement intervention. If convicted, he faces up to 10 more years in prison on each count.

    With the exception of the money laundering charge which has the possibility of a $500,000 maximum fine or twice the value of the property involved, the remaining counts carry a maximum $250,000 potential fine.

    Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) led the investigation along with IRS Criminal Investigation (CI) and the assistance of Houston Police Department (HPD); FBI; High Intensity Drug Trafficking Areas Program; Harris County Constable’s Office – Precinct One; Harris County District Attorney’s Office; Bureau of Alcohol, Tobacco, Firearms and Explosives; and Drug Enforcement Administration. Other agencies providing support include ICE – Enforcement and Removal Operations, Customs and Border Protection, sheriff’s offices in Harris and Montgomery Counties, Houston Fire Department, Texas Attorney General’s Office, Texas Department of Public Safety and police departments in Baytown and Pasadena.

    Assistant U.S. Attorneys S. Mark McIntyre, John Marck and Carolyn Ferko are prosecuting the case. Assistant U.S. Attorneys Brandon Fyffe and Tyler Foster are handling the seizure and forfeiture of assets.

    An indictment is a formal accusation of criminal conduct, not evidence. A defendant is presumed innocent unless convicted through due process of law.

    MIL Security OSI –

  • MIL-OSI China: Hungary set for economic leap with launch of Chinese megaprojects: FM

    Source: China State Council Information Office

    Hungary is poised for a major economic leap in 2025, driven by the start of production at multiple Chinese industrial megaprojects across the country, Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto said on Thursday.

    “Several world-leading Chinese giants will begin production this year or early next, giving a serious boost to our economy and turning 2025 into a breakthrough year,” he said at a press conference in Budapest, noting that the arrival of tech leaders like BYD and CATL marks a new chapter in Hungary’s economic transformation.

    “These major Chinese investments have made it possible for Hungary to move from being a follower to becoming a global frontrunner in the technological revolution transforming the automotive industry,” Szijjarto said.

    In the past decade, large-scale Chinese business projects have created more than 30,000 direct jobs, he said, reaffirming Hungary’s ambition to attract not only large-scale manufacturing, but also Chinese R&D and service investments in the years ahead. 

    MIL OSI China News –

  • MIL-OSI China: Australian PM: Nowhere ‘safe’ after remote islands hit by US tariffs

    Source: China State Council Information Office

    Australian Prime Minister Anthony Albanese said that “nowhere on Earth is safe” after remote island territories belonging to Australia were singled out for new U.S. tariffs.

    Among countries and territories listed in U.S. President Donald Trump’s announcement of sweeping new tariffs in Washington on Wednesday local time were the Australian territories of the Heard and McDonald Islands, and Norfolk Island.

    The Heard and McDonald Islands — an uninhabited territory in the Indian Ocean, around 6,000 km southwest of Australian capital Canberra and some 1,500 km to the Antarctica — was specified as being subject to Trump’s baseline 10 percent tariffs.

    Norfolk Island — about 1,900 km northeast of Canberra in the South Pacific Ocean with a population of about 2,000 — was hit with a 29 percent tariff, which the U.S. administration said was in response to a 58 percent tariff it faced from the island.

    Responding to the tariffs on Thursday, Albanese said he was “not sure” why Norfolk Island had been singled out.

    “I’m not quite sure that Norfolk Island, with respect to it, is a trade competitor with the giant economy of the United States,” he said.

    “But that just shows and exemplifies the fact that nowhere on earth is safe from this.”

    Authorities on Thursday night confirmed that Norfolk Island had no known exports to the U.S., with tourism its main industry.

    “I’ve got no idea why Trump has given us a tariff,” Leah Honeywood, Norfolk Island’s Chief Magistrate, told the Australian Financial Review.

    “If any export is done, it’s been on a personal level. Our industry is tourism — there’s no industry that exports to the U.S.,” he added.

    Norfolk Island has been an Australian territory since 1914 and the Heard and McDonald Islands since 1947.

    Christmas Island, another Australian territory in the Indian Ocean near Indonesia with a population of about 1,600, was also singled out for a baseline 10 percent tariff, as was the nearby small archipelago of the Cocos, or Keeling, Islands, which has been an Australian territory since 1955. 

    MIL OSI China News –

  • MIL-OSI China: Japan PM calls U.S. tariffs ‘national crisis’

    Source: China State Council Information Office

    Japanese Prime Minister Shigeru Ishiba said Friday that tariffs imposed on Japanese goods by the U.S. administration are a “national crisis.”

    Speaking in a parliamentary session, Ishiba said the slap of a 24-percent levy on Japanese imports “can be called a national crisis and the government is doing its best with all parties.”

    On Thursday, Ishiba told reporters that U.S. President Donald Trump’s announcement to impose the “reciprocal tariffs” is extremely regrettable and disappointing despite calls from Tokyo at various levels not to take the unilateral measure.

    The prime minister argued that his export-oriented country has been the world’s largest investor in the U.S. since 2019, noting Japanese carmakers have made direct investments worth about 418 million U.S. dollars and created 2.3 million jobs in the United States.

    Ishiba said that U.S. tariff hikes will have a significant impact not only on bilateral economic relations, but also on the global economy and the multilateral trade system.

    He said he is seriously concerned about whether the tariff plan is consistent with World Trade Organization rules and the Japan-U.S. trade agreement.

    Ishiba signaled that the government will closely examine how domestic industries will be impacted and provide full-fledged assistance measures. 

    MIL OSI China News –

  • MIL-OSI China: US announcement of reciprocal tariffs causes worldwide backlash

    Source: China State Council Information Office

    U.S. President Donald Trump’s announcement of new reciprocal tariffs on imports from all trading partners has drawn backlash from countries around the world, with countermeasures already pledged by some.

    The universal tariffs imposed by the United States — a 10-percent “minimum baseline tariff” to be imposed on all imports — will take effect on April 5, and the “individualized reciprocal higher tariff” on the countries and regions with which the United States “has the largest trade deficits” will take effect on April 9, according to a White House document.

    “Resentment Day”

    On social media platform X, Czech Minister of Industry and Trade Lukas Vlcek called Trump’s new tariffs a “mistake.” Also, Manfred Weber, the leader of the European People’s Party and a member of the European Parliament, called April 2 — the new tariff announcement day dubbed by Trump as “liberation day” for the United States — as “resentment day.”

    “Donald Trump’s tariffs don’t defend fair trade: They attack it out of fear and hurt both sides of the Atlantic,” he said.

    European Commission President Ursula von der Leyen on Wednesday expressed deep regret over the U.S. move in a statement, calling it “a major blow to the world economy,” and warned against a devastating impact. “The global economy will massively suffer,” she said. “Uncertainty will spiral and trigger the rise of further protectionism. The consequences will be dire for millions of people around the globe.”

    Spanish Economy Minister Carlos Cuerpo on Thursday said the United States’ new tariffs are “unfair and unjustified” in an interview with radio station RNE, adding that the Spanish government will take action to protect companies and consumers from the effects of the tariffs.

    Speaking to local media on Thursday morning, British Business and Trade Secretary Jonathan Reynolds said he is “disappointed” by the additional tariffs imposed on Britain, noting the 10-percent tariff is not a “fair reflection of how we currently trade.”

    In Asia, Japan’s Chief Cabinet Secretary Yoshimasa Hayashi on Thursday expressed “serious concern” about the U.S. decision to impose reciprocal tariffs, saying the new tariffs could have a “big negative impact” on the global economy and the multilateral trade system.

    South Korean Prime Minister Han Duck-soo, who is serving as acting president following the impeachment of President Yoon Suk-yeol, told an emergency meeting on economic security in Seoul: “As the global tariff war is coming to a reality, the government should pour out all of its capabilities to overcome a trade crisis.”

    The German Institute for Economic Research in a statement issued on Wednesday ahead of Trump’s new tariffs announcement warned that the United States has made a significant departure from multilateralism in its trade policy. The introduction of new, extensive tariffs poses a serious threat to global supply chains.

    Grave concerns among businesses

    Business leaders in Britain voiced concerns on Wednesday that the new tariffs on their exports, even at 10 percent, could weigh heavily on British industries. Rain Newton-Smith, chief executive of the Confederation of British Industry (CBI), said: “There are no winners in a trade war. Today’s announcements are deeply troubling for businesses and will have significant ramifications around the world.”

    The Federation of Small Businesses (FSB) believed small exporters in the country would be hard hit, as 59 percent of them trade with the United States. “Tariffs will cause untold damage to small businesses trying to trade their way into profit,” said Tina McKenzie, the FSB’s policy chair.

    The Manufacturers Association of Israel (MAI) said in a statement Thursday that the United States imposing a 17-percent tariff on imports from Israel is worrying. “The decision of the U.S. President to apply the tariff policy to Israel could harm Israel’s economic stability, deter foreign investment in the economy, and weaken the competitiveness of Israeli companies in the U.S. market,” it said in a statement.

    On Tuesday, Israel announced the lifting of all tariffs imposed on imports from the United States, but the move failed to avert the new tariffs imposed by the United States.

    Countermeasures pledged

    In Paris, French government spokesperson Sophie Primas said on Thursday the European Union (EU) is ready for a trade war, with retaliatory tariffs to be imposed on all goods and service products from the United States by the end of April.

    The initial levies in retaliation to the U.S. tariffs on EU steel and aluminum products would be put in place around mid-April, and the tariffs targeting all American imports are expected to be ready probably by the end of April, she said when speaking to the broadcaster RTL on Wednesday.

    In response to the U.S. tariffs, Britain’s Prime Minister Keir Starmer told business leaders gathering at 10 Downing Street on Thursday morning that the close ally of the United States is “prepared.” “Decisions we take in the coming days and weeks will be guided only by our national interest. In the interest of our economy,” Starmer said.

    On Wednesday before Trump’s announcement of the new tariffs, Italian Prime Minister Giorgia Meloni reiterated her call for negotiations to avoid a trade war with the United States, while signaling a shift away from her previous opposition to European retaliatory tariffs.

    “We must work in every way to avert a trade war,” she said during a cultural event. “But this obviously does not rule out considering appropriate responses to defend our industries if necessary.”

    In Brazil, the National Congress passed legislation allowing the South American country to impose reciprocal trade and environmental measures in response to foreign restrictions, on Wednesday just hours after Trump’s announcement of the sweeping tariffs.

    MIL OSI China News –

  • MIL-OSI: Dividend Payment Ex-date of AS LHV Group

    Source: GlobeNewswire (MIL-OSI)

    For the financial year 2024 AS LHV Group will pay dividends in the net amount of 9 euro cents per share. The list of shareholders entitled to receive dividends will be established as at on 9 April 2025 EOD of Nasdaq CSD settlement system. Consequently, the day of change of the rights related to the shares (ex-dividend date) is set to 8 April 2025. From this day onwards, the person acquiring the shares will not have the right to receive dividends for the financial year 2024. Dividends shall be disbursed to the shareholders on 10 April 2025. 

    Priit Rum
    Communications Manager
    Phone: +372 502 0786
    Email: priit.rum@lhv.ee 

    The MIL Network –

  • MIL-OSI USA: THOMPSON, KELLY INTRODUCE BIPARTISAN MENTAL HEALTH RESEARCH ACCELERATOR ACT

    Source: United States House of Representatives – Congressman Mike Thompson Representing the 5th District of CALIFORNIA

    Washington – Ways and Means Tax Subcommittee Ranking Member Rep. Mike Thompson (CA-04) and Subcommittee Chairman Rep. Mike Kelly (PA-16) re-introduced the bipartisan Mental Health Research Accelerator Act to incentivize private companies with financial resources to collaborate with academic or nonprofit research institutions on neurological and mental health research to tackle the root causes of mental health conditions.

    “Investing in brain research is key to addressing the root causes of mental health conditions, not just managing the symptoms,” said Rep. Thompson. “Mental illness is often at the core of challenges like homelessness, substance abuse, and workplace struggles. Simply funding symptom management isn’t enough—we must get ahead of the problem by advancing research that can prevent these issues from arising in the first place. I’m proud to partner with Rep. Kelly to support this critical work and help drive meaningful progress.”

    “When it comes to addressing mental health access and care, we must utilize every tool in our toolbox,” Rep. Kelly said. “This new legislation allows us to make America’s tax system work for the American people by incentivizing research partnerships into brain health. I’m proud to work with my Ways and Means Committee colleague, Rep. Mike Thompson, on this vital legislation.”

    “Today, more than 60 million Americans suffer from a mental illness. Recent work by Price Water House Coopers estimated that the economic burden of mental illness was more than $1 trillion annually, not counting the value of human life associated with the almost 50,000 deaths by suicide. Research from the pharmaceutical industry has moved away from mental illness drugs because of the cost and risks involved. H.R. 2085 will provide necessary economic incentives for industry to partner with research universities across our country to engage in public-private partnerships that will have the potential to find new drugs and treatments but also to provide new jobs. This is a non-partisan issue and merits the support of everyone,” said Garen Staglin, Founder of the One Mind Foundation.

    BACKGROUND

    The Mental Health Research Accelerator Act provides $10 billion in allocable tax credits over a six-year period. The credits are available to nonprofits, state and local agencies, and private companies who collaborate on neurological research.

    Because of the high cost of neurological research, and the challenges in producing market-viable products, there is not enough investment in cutting edge neurological research. The credit is capped at 25 percent of allowable expenses and is a competitive credit to be allocated based on merit, as determined by the Treasury Department. Any credits not allocated by the end of the window are simply deemed moot and returned to Treasury unless the credit is extended by Congress.

    Read the full text of the bill here.

    MIL OSI USA News –

  • MIL-OSI USA: THOMPSON RELEASES STATEMENT ON PRESIDENT’S TRADE WAR

    Source: United States House of Representatives – Congressman Mike Thompson Representing the 5th District of CALIFORNIA

    Washington – Today, Rep. Mike Thompson (CA-04) released the following statement in response to the President’s new tariffs:  

    “Make no mistake: The American people will pay the price for the President’s trade war. The tariffs the President announced today will raise prices on groceries and electronics, cars and homes, and just about every other good on which we rely. 

    “Our economy is the envy of the world. In a sweeping move, President Trump is undoing our progress. Thanks to President Trump’s trade war, people will lose their jobs, seniors’ retirement savings will go down, medical costs will go up, and families will struggle to afford basic goods.  

    “Yet the President has gone on the record to make his stance clear, stating he ‘couldn’t care less’ if his tariffs raise prices on American families. It’s time Congressional Republicans join Democrats to stand up against the President’s attempt to tank our economy.” 

    MIL OSI USA News –

  • MIL-OSI USA: Davids Speaks with Terminated Federal Workers Amidst Reckless Government Downsizing by DOGE

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

    KANSAS CITY, KS — Today, Representative Sharice Davids convened a roundtable discussion with five federal workers recently laid off due to the Trump administration’s Department of Government Efficiency (DOGE) initiatives, led by Elon Musk. The event shed light on the personal and community impacts of the substantial federal workforce reductions currently underway. Davids distributed her Job Seekers Guide, which provides valuable resources for finding new employment and support during periods of unemployment.

    “The mass layoffs pushed by the current administration and DOGE are not just uprooting the lives of dedicated federal workers — they are putting at risk the essential services our communities rely on every day,” said Davids. “In Kansas, where federal jobs are a vital part of our economy, these cuts threaten not only public trust but public safety. While I support efforts to make government more efficient, this reckless approach will have far-reaching consequences. I am committed to standing up against these harmful cuts, holding those responsible accountable, and ensuring that these workers and the services they provide are protected.”

    The roundtable featured a diverse group of federal workers impacted by the recent DOGE job cuts. Participants included:

    • Jasper Hudgins-Bradley, Overland Park, KS: Former Internal Revenue Service (IRS) contact representative, helping people navigate IRS issues, who was laid off after less than a month of service.
    • Selina Bur, Kansas City, MO: Former Transportation Specialist with the U.S. Department of Transportation (DOT) Office of the Secretary, facilitating infrastructure projects and helping federal funds reach American communities.
    • Scott Curtis, Overland Park, KS: Former Federal Emergency Management Agency (FEMA) Region 7 Chief of Staff, initially laid off, then told it was a mistake and asked to return — yet has not received any rehiring details.
    • Donny Newsom, Leawood, KS: Navy veteran and former Senior Project Manager at National Oceanic and Atmospheric Administration (NOAA), overseeing national laboratories and ensuring they met operational needs.
    • Garth Stocking, Kansas City, MO: Technical expert at the Social Security Administration (SSA) and American Federation of Government Employees (AFGE) union leader, who, while not personally laid off, provided insight into the broader impacts of looming cuts within the Social Security workforce.

    Kansas City, a major hub for federal employment, is experiencing widespread impacts from these layoffs. The federal government is the metro’s largest employer, with approximately 30,000 federal workers — accounting for about 3 percent of the region’s total workforce. These cuts are already affecting Kansas City families, local economies, and the critical services federal employees provide to the public. Specific agencies affected include:

    • IRS: About 1,000 layoffs have already taken place at Kansas City locations, with more expected.
    • Department of Veterans Affairs (VA): Under DOGE directives, the VA announced plans to lay off up to 83,000 employees nationwide by the end of 2025.
      • Davids previously demanded answers from the VA following the abrupt termination of employees, including service-disabled veterans, military spouses, and medical researchers.
    • Federal Aviation Administration (FAA): Aviation safety professionals at regional FAA offices are among those impacted, with the FAA union president saying they were let go “without assessment.”
      • Davids previously warned that the Administration’s FAA firings “undermine aviation safety,” just weeks after the fatal midair collision of AA5342, which took off from Wichita, Kansas.
    • SSA: The administration is planning to cut at least 7,000 employees, a cut of more than 12 percent. The acting SSA commissioner said DOGE officials are “outsiders who are unfamiliar with nuances of SSA programs.”
    • U.S. Department of Agriculture (USDA): In February, the National Bio and Agro-Defense Facility (NBAF) in Manhattan, Kansas, laid off at least a dozen administrative employees. Some were later rehired to assist with the avian influenza response.
    • NOAA: Local weather professionals are also seeing cuts, which could impact forecasting and emergency preparedness.
    • And others.

    WATCH: Davids spoke last week on the consequences of mass federal worker layoffs 

    “I am just one of so many federal employees in Kansas and around the country who have been fired with disregard for our livelihood or the essential services we provide to the American people,” said Scott Curtis, former FEMA employee. “After 32 years in the U.S. Navy, I chose federal service to continue helping others, but like many probationary employees, I was among the first to go — not because of performance, but because of reckless policy. This is not just about jobs; it’s about losing dedicated public servants who quietly support millions of Americans in ways they may never realize. The irony is that if the goal was true efficiency, we should be keeping these new, innovative workers — not cutting them first.”

    “Many current and former government employees are now vulnerable to the actions of President Trump, his appointee Elon Musk, and others in positions of power, and we find ourselves in crisis,” said Jasper Hudgins-Bradley, former IRS employee. “It is both encouraging and reassuring to have elected officials like Representative Sharice Davids listening to our concerns and amplifying our voices, supporting us from above as we work to address these issues on the ground. Public servants are often easy targets, but the President has demonstrated over the course of his terms that he will remove anyone who stands in his way. What has happened to us could happen to anyone who does not push back.”

    “The termination of my position at U.S. DOT, carried out by the Trump Administration, not only violates the laws of the United States, but was done recklessly, without regard for my performance or what the impact would be to the communities I served across the country,” said Selina Bur, former DOT employee. “The ripple effects of these unlawful mass terminations will be far-reaching.”

    “I served my country for 22 years in the Navy and continued that service at NOAA, ensuring scientists had the facilities they need to support critical research — including weather forecasting that helps Kansas farmers and communities plan for storms,” said Donny Newsom, former NOAA employee. “But after just 15 months, I was abruptly terminated along with 200 others, not for poor performance, but because we were easy targets in the new administration’s push to gut the federal workforce. These mass firings don’t just hurt public servants — they create chaos, weaken our national security, and cost taxpayers. Thank you, Sharice, for standing up against these reckless cuts and fighting for Kansans.”

    “DOGE and the whole Trump administration has been an avalanche of woe for federal workers and a mounting disaster for our country,” said Garth Stocking, former SAA employee. “Mine is a household of two federal workers and a trans teen — you bet we are angry, frightened and in constant turmoil about the prospects of years of these vicious, thoughtless policies. Beyond my personal situation, the community needs to be absolutely clear about how this dismantling of the civil service will harm them in so many ways. They are burning it all down only to deliver more money to the rich. Sharice Davids has proven herself a hero to federal workers, because she is with us, talking to us at every step — really standing up, and we appreciate it.”

    Davids has always prioritized what’s best for Kansans, working across the aisle when it leads to real benefits — like collaborating with the new EPA director to lower gas prices. But she won’t hesitate to push back against extreme policies that hurt Kansas families. She condemned President Trump’s new tariffs, warning they “could raise costs for hardworking folks and put even more pressure on our agricultural sector.” She also fought against threats to Medicaid — critical for 61,000 people in Kansas’ Third District — after House Republicans pushed a partisan budget that slashed health care to give billionaires tax breaks.

    MIL OSI USA News –

  • MIL-OSI USA: Davids Helps Lead Bipartisan, Bicameral Proposal to Make Child Care More Affordable

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

    This week, Representative Sharice Davids helped lead a bipartisan, bicameral legislative package to make child care more affordable and accessible. The two bipartisan bills, known as the Child Care Availability and Affordability Act and the Child Care Workforce Act, would strengthen existing tax credits that lower child care costs and increase the supply of child care providers.

    “Child care costs are skyrocketing, and too many families are struggling to find affordable, quality options,” said Davids. “That’s why I’m proud to be leading this bipartisan, bicameral child care package that will directly address these challenges. By modernizing tax incentives and creating new opportunities for the child care workforce, this legislation will ease the financial burden on parents and strengthen our local child care centers. This is a clear example of both parties coming together to prioritize working families and build stronger communities.”

     

    To introduce the package, Davids was joined by Representatives Salud Carbajal (D-CA-24), Mike Lawler (R-NY-17), and Juan Ciscomani (R-AZ-06), as well as U.S. Senators Katie Britt (R-AL) and Tim Kaine (D-VA). To make child care more affordable and boost the sector’s workforce, this package would:

    • give businesses a bigger tax break for helping their employees pay for child care;
    • let workers set aside more money from their paychecks, tax-free, to cover child care costs;
    • help create more good child care programs by making sure child care workers get better pay.

    Davids has worked diligently to bring down child care costs and improve child care access in Kansas. Earlier this year, she introduced the bipartisan Affordable Child Care Act, which doubles three different tax credits, putting money directly in parents’ pockets. Last year, she voted for legislation that would expand the Child Tax Credit, which benefits 136,000 children in Kansas. She also toured a local child care facility and visited multiple Head Start programs to highlight how federal investments have supported the workforce and daily operations of local child care small businesses and education centers.

    Additional Member quotes:

    “Families on the Central Coast share a common concern: the high cost and limited availability of child care. Many families either can’t find the care they need or simply can’t afford it. At the same time, businesses are facing hiring challenges due to the shortage of child care options. The lack of affordable child care is holding back both families and local economies,” said Representative Salud Carbajal (D-CA-24). “That’s why I’m proud to introduce the Child Care Availability and Affordability Act and the Child Care Workforce Act, a bipartisan, bicameral child care package aimed at both modernizing tax programs to help families afford child care and strengthening the workforce.”

    “I’m proud to be working in a bipartisan, bicameral way with Senators Kaine and Britt and Rep. Carbajal to expand the child and dependent care tax credit,” said Representative Mike Lawler (R-NY-17). “Putting more money back in the pockets of young working and middle-class families will help them achieve their financial goals, care for their kids, and provide a better future for all Americans.”

    “This commonsense proposal is about more than just addressing our child care crisis – it is a direct investment in the hardworking families and local small businesses striving to achieve their American Dream across our nation. I’m proud of this effort to empower parents, which ultimately opens the door to more opportunities for their children and tackles our nation’s urgent workforce needs to help unleash a new era of American prosperity,” said Senator Katie Britt (R-AL). “Our legislation is pro-family, pro-Main Street, and pro-growth. We are sending a strong message to the American people that we can and will get the job done to improve the affordability and accessibility of quality child care.”

    “The child care crisis is holding our families and economy back. I hear from Virginia parents all the time about how hard it is to find affordable child care, from child care providers who are forced to leave their jobs because of low wages, and from businesses who are having trouble finding the employees they need,” said Senator Tim Kaine (D-VA). “I’m proud to join my colleagues in introducing this bipartisan legislation, and I hope more of my colleagues will join us in passing this comprehensive proposal to support child care providers, make it easier for families to access the care they need, and boost economic growth by providing parents with the opportunity to get back into the workforce.”

    “As a father of six, I know firsthand how difficult it can be to find convenient and affordable child care,” said Representative Juan Ciscomani (R-AZ-06). “The high cost of care and an ongoing workforce shortage is leading to a crisis in child care that is affecting families in southern Arizona, and across the U.S. I’m proud to join Rep. Carbajal in this bold, bipartisan solution that makes child care more accessible by strengthening existing tax credits to lower costs as well as addressing the workforce shortage.”

    MIL OSI USA News –

  • MIL-OSI China: Canada launches counter auto tariffs against US

    Source: China State Council Information Office 3

    New vehicles are on display at a Ford dealership in Vancouver, British Columbia, Canada, on April 3, 2025. Canadian Prime Minister Mark Carney announced on Thursday Canada will be responding by matching the U.S. approach with 25 percent tariffs on all vehicles imported from the United States that are not compliant with the Canada-U.S.-Mexico Agreement (CUSMA). (Photo by Liang Sen/Xinhua)

    Canadian Prime Minister Mark Carney announced on Thursday Canada will be responding by matching the U.S. approach with 25 percent tariffs on all vehicles imported from the United States that are not compliant with the Canada-U.S.-Mexico Agreement (CUSMA).

    The prime minister said his government will also impose the tariff on non-Canadian content of any CUSMA-compliant vehicles from the U.S., adding that Mexico won’t be impacted.

    Carney said that the global economy “is fundamentally different today than it was yesterday.”

    “Yesterday’s actions by the U.S. administration, while not specifically targeting Canada, will rupture the global economy and adversely impact global economic growth,” he said.

    “Our old relationship of steadily deepening integration with the United States is over. The 80-year period when the United States embraced the mantle of global economic leadership is over,” said Carney.

    Carney also said his government has gone to the World Trade Organization to argue the tariffs violate international trade law.

    Canada was spared from the 10 percent baseline tariffs, but a 25 per cent U.S. tariff on imported autos went into effect at midnight. 

    MIL OSI China News –

  • MIL-OSI Economics: Money Market Operations as on April 03, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,85,663.18 5.67 0.01-6.90
         I. Call Money 16,939.32 5.99 5.00-6.10
         II. Triparty Repo 3,88,306.40 5.61 5.02-6.00
         III. Market Repo 1,78,887.56 5.76 0.01-6.90
         IV. Repo in Corporate Bond 1,529.90 6.04 6.00-6.10
    B. Term Segment      
         I. Notice Money** 197.00 5.79 5.75-6.05
         II. Term Money@@ 617.00 – 6.10-6.30
         III. Triparty Repo 3,917.95 5.77 5.50-6.10
         IV. Market Repo 2,557.85 6.27 6.20-6.30
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Thu, 03/04/2025 1 Fri, 04/04/2025 6,012.00 6.26
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Thu, 03/04/2025 1 Fri, 04/04/2025 1,494.00 6.50
    4. SDFΔ# Thu, 03/04/2025 1 Fri, 04/04/2025 4,13,054.00 6.00
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -4,05,548.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo Fri, 21/02/2025 45 Mon, 07/04/2025 57,951.00 6.26
      Fri, 14/02/2025 49 Fri, 04/04/2025 75,003.00 6.28
      Fri, 07/02/2025 56 Fri, 04/04/2025 50,010.00 6.31
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       6,465.93  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     1,89,429.93  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -2,16,118.07  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on April 03, 2025 8,85,497.50  
         (ii) Average daily cash reserve requirement for the fortnight ending April 04, 2025 9,28,983.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ April 03, 2025 6,012.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on March 07, 2025 54,323.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    ^ As per the Press Release No. 2024-2025/2082 dated February 05, 2025, Press Release No. 2024-2025/2138 dated February 12, 2025, and Press Release No. 2024-2025/2209 dated February 20, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/31

    MIL OSI Economics –

  • MIL-OSI USA: Grassley Honored by National Foreign Trade Council for Longtime Commitment to Pro-Growth Policies

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    WASHINGTON – Sen. Chuck Grassley (R-Iowa), a senior member and former chairman of the tax-writing Senate Finance Committee, accepted the National Foreign Trade Council Foundation’s (NFTC) International Tax Award for his decades-long commitment to pro-growth tax policies.
    “I’m honored to be recognized for my work to grow our nation’s economy through international tax reform,” Grassley said. “During my time as chairman of the Senate Finance Committee, and still today as a senior member of the committee, I’ve approached tax writing as a way to bolster American businesses, increase wages and reinvest foreign earnings. I look forward to continuing my work to advance America-first tax policies, first and foremost by extending the 2017 Tax Cuts and Jobs Act.”
    “During Senator Grassley’s long career in the Senate, he has always been a champion of tax policies that drive economic growth,” said Anne Gordon, NFTC Vice President for International Tax Policy. “As Chairman of Senate Finance, he led efforts to simplify the tax code, reducing the Foreign Tax Credit baskets and creating a look-thru provision for U.S. subsidiaries, efforts which help streamline compliance and mitigate double taxation.”
    Grassley played a leading role in the 2017 Tax Cuts and Jobs Act and spearheaded the American Jobs Creation Act to simplify Foreign Tax Credits and increase American businesses’ competitiveness overseas. 
    Photos and a transcript of Grassley’s remarks upon accepting the award follow.

    Download photos HERE.
    Prepared Remarks by Senator Chuck Grassley of Iowa “National Foreign Trade Council Foundation’s International Tax Award” Wednesday, April 2, 2025
    It’s good to join you this evening. I’m honored to accept this award from a group of innovators and entrepreneurs who take risks everyday to grow our economy and prosperity for hard-working Americans.
    Around this time of year, a five-letter word in the English language strikes a chord among all Americans. And that word is TAXES. 
    One reason President Trump won re-election was his promise to renew the 2017 tax cuts. So, you’d think getting a bill to his desk to prevent the largest tax increase in U.S. history would be a no-brainer. 
    Unfortunately, this town is famous for gumming up the works, especially when it comes to taxes. 
    As a former chairman of the Senate Finance Committee, this isn’t my first tax rodeo. 
    Two decades ago, I worked with my friend Senator Baucus to enact the American Jobs Creation Act, which included the most significant reforms to our international tax rules in decades. We hammered out provisions to simplify Foreign Tax Credits and increase the competitiveness of American businesses overseas. 
    Corporate inversions were a hot topic at the time and gaining prevalence. Provisions were added to stem the tide. However, I always saw corporate inversions as a symptom of our outdated and uncompetitive corporate tax structure. What we needed was comprehensive tax reform.   
    That finally came with the enactment of the Tax Cuts and Jobs Act. 
    Our corporate tax rate, which had become the highest in the developed world, was lowered to bring it in-line with that of our major trading partners. Moreover, our international tax system was modernized to unlock offshore earnings and allow trillions to be brought back and invested here at home.  
    And you know how many corporate inversions we’ve seen since enactment of these reforms? 
    Zero! 
    So, as Congress buckles down to renew the Trump tax cuts, let’s learn from history. Increasing corporate taxes reduces our international competitiveness, incentivizes profit-shifting and stretches the tax gap. 
    During his first week back in office, I’m glad President Trump put out a fire the Biden administration started by surrendering U.S. taxing rights to global interests. You can be sure I’m working against discriminatory and unfair taxes on U.S. businesses and American workers.
    Now Congress must get to work and renew the 2017 tax cuts. Failure is not an option.  
    Thank you.
    -30-

    MIL OSI USA News –

  • MIL-OSI USA: Crapo Statement on Analysis Showing Economic Impact of Permanently Extending Trump’s Tax Cuts

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo

    Analysis shows pro-growth agenda fuels 3 percent GDP growth, $4 trillion in revenue

    Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Chairman of the Senate Finance Committee, issued the following statement on an analysis from the Council of Economic Advisors (CEA) projecting that making the Trump Tax Cuts permanent—combined with other Trump Administration pro-growth policies—will yield an average growth of at least 3 percent per year over the next 10 years, resulting in more than $4 trillion of additional revenue during that period.

    “Certainty and stability in our tax code are critical for economic growth and activity,” said Crapo.  “This analysis correctly recognizes the full economic impact of permanently extending the Tax Cuts and Jobs Act (TCJA), implementing commonsense regulatory reform and reducing wasteful government spending.  President Trump’s pro-growth agenda will raise trillions of dollars in revenue, increasing prosperity and opportunity across all segments of the economy.”

    Key numbers from the CEA analysis (TCJA extension combined with other pro-growth policies):

    • 3.0 percent – annual real GDP growth rates over the next 10 years.
    • $4.1 trillion – additional revenue over the next 10 years relative to CBO projects that assume TCJA expires.
    • 3.3 to 3.8 percent – boost in short-run real GDP.
    • 2.6 to 3.2 percent – increase in long-run real GDP.
    • $2,100 to $3,300 – annual real wage increase per worker.
    • $4,000 to $5,000 – increase in median-income household take-home pay.
    • 4 million – full-time equivalent jobs saved.
    • $100 billion – investment in distressed communities.

    READ: CEA: The Economic Impact Of Extending Expiring Provisions Of The Tax Cuts And Jobs Act

    READ: FY 2025 Budget Resolution will Deliver Permanent Tax Relief, Spur Economic Growth and Restore Fiscal Order

    MIL OSI USA News –

  • MIL-Evening Report: ‘Not an extension of Australia’ – Trump’s tariffs ‘reinforces’ Norfolk Island’s independence hopes

    By Caleb Fotheringham, RNZ Pacific journalist

    Norfolk Island sees its United States tariff as an acknowledgment of independence from Australia.

    Norfolk Island, despite being an Australian territory, has been included on Trump’s tariff list.

    The territory has been given a 29 percent tariff, despite Australia getting only 10 percent.

    It is home to just over 2000 people, sitting between New Zealand and Australia in the South Pacific

    The islands’ Chamber of Commerce said the decision by the US “raises critical questions about Norfolk Island’s international recognition as an independent sovereign nation” and Norfolk Island not being part of Australia.

    “The classification of Norfolk Island as distinct from Australia in this tariff decision reinforces what the Norfolk Island community has long asserted: Norfolk Island is not an extension of Australia.”

    Norfolk Island previously had a significant level of autonomy from Australia, but was absorbed directly into the country’s local government system in 2015.

    Norfolk Islanders angered
    The move angered many Norfolk Island people and inspired a number of campaigns, including appeals to the United Nations and the International Court of Justice, by groups wishing to re-establish a measure of their autonomy, or to sue for independence.

    The Chamber of Commerce has taken the tariff as a chance to reemphasis the islands’ call for independence, including, “restoration of economic rights” and exclusive access to its exclusive economic zone.

    The statement said Norfolk Island is a “sovereign nation [and] must have the ability to engage directly with international trade partners rather than through Australian officials who do not represent Norfolk Island’s interests”.

    Australian Prime Minister Anthony Albanese told reporters yesterday: “Norfolk Island has got a 29 percent tariff. I’m not quite sure that Norfolk Island, with respect to it, is a trade competitor with the giant economy of the United States.”

    “But that just shows and exemplifies the fact that nowhere on Earth is safe from this.”

    The base tariff of 10 percent is also included for Tokelau, a non-self-governing territory of New Zealand, with a population of only about 1500 people living on the atoll islands.

    US President Donald Trump’s global tariffs . . . “raises critical questions about Norfolk Island’s international recognition as an independent sovereign nation.” Image: Getty/The Conversation

    US ‘don’t really understand’, says PANG
     Pacific Network on Globalisation (PANG) deputy coordinator Adam Wolfenden said he did not understand why Norfolk Island and Tokelau were added to the tariff list.

    “I think this reflects the approach that’s been taken, which seems very rushed and very divorced from a common sense approach,” Wolfenden said.

    “The inclusion of these territories, to me, is indicative that they don’t really understand what they’re doing.”

    In the Pacific, Fiji is set to be charged the most at 32 percent.

    Nauru has been slapped with a 30 percent tariff, Vanuatu 22 percent, and other Pacific nations were given the 10 percent base tariff.

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

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Hagerty Gets Commitment from Nominee Perdue to Hold China Accountable for Unfair Treatment of U.S. Diplomats, Financing of Iran’s Terror Regime

    US Senate News:

    Source: United States Senator for Tennessee Bill Hagerty

    The Biden Administration failed to protect U.S. diplomats, stop China from financing Iran’s terror regime

    WASHINGTON—United States Senator Bill Hagerty (R-TN), a member of the Senate Foreign Relations Committee and former U.S. Ambassador to Japan, today received a commitment from former Senator David Perdue (R-GA), nominee to be U.S. Ambassador to China, to hold the Chinese Communist Party (CCP) accountable for unfair treatment of U.S. diplomats, and work to stop the CCP from financing Iran’s terror regime and its proxies.

    “When I served as U.S. Ambassador to Japan, one of my top priorities was taking care of my staff and their families,” Hagerty said.

    “If I think about what happened during Covid [in China], they put some of our [diplomatic] staff in containers, held them in isolation in moldy hotel rooms,” Hagerty continued. “They took stool samples from them, blood tests for them. I just think it’s totally egregious what took place.”

    “If you receive reports of harassment or abuse, will you immediately report those not only to the Trump Administration, but to this committee, so that we can act upon it?” Hagerty asked.

    “Absolutely,” Perdue confirmed.

    Hagerty also questioned nominee Perdue about preventing the CCP from funding Iran’s terror regime, which the Biden Administration failed to do.

    “As I’ve discussed many times in this committee, the Biden Administration’s non-enforcement of sanctions against Iran has provided that regime with over $100 billion that they have used, therefore, to go out into the Middle East and foment terror and insecurity,” Hagerty said. “President Trump intends to actually enforce sanctions against Iran, and last month, his Administration announced sanctions against the Chinese teapot oil refinery. That refinery was buying and refining hundreds of millions of dollars’ worth of Iranian crude oil.”

    “Some of this oil was even imported to China by ships linked to the Iranian-backed Houthi regime, the same terrorists that are attacking U.S. personnel, commercial vessels, and certainly our ally Israel,” Hagerty added. “This is yet another example of how Biden’s non-enforcement of sanctions funded the very problems we are spending billions to address right now.”

    “Do you commit to conveying to the Chinese government, in the strongest possible terms, that the United States will not tolerate Chinese activities that finance Iran and its terrorist proxy groups, especially those terrorist groups that attacked the United States and its allies?” Hagerty asked.

    “Of course,” Perdue answered.

    *Click the photo above or here to watch*

    MIL OSI USA News –

  • MIL-OSI New Zealand: Minister to speak at global Space Symposium

    Source: New Zealand Government

    Space Minister Judith Collins will travel to the United States next week to attend the 40th Space Symposium.
    “I’m looking forward to returning to the Space Symposium to continue championing New Zealand as the place to do space-related business,” Ms Collins says.
    “The Symposium draws companies and government representatives from around the world, and it’s an excellent opportunity to show that we’re open for business.
    “I’ll be promoting New Zealand’s rapidly growing place in the space and advanced aviation sectors.
    “Last year we conducted the third highest number of launches in the world. This is an achievement we want to build on as we seek to grow the economy and ease the cost of living for New Zealanders.”
    Ms Collins will deliver a speech about New Zealand’s space and advanced aviation sectors, sign a Memorandum of Cooperation between New Zealand and the State of Colorado, host a reception to showcase New Zealand’s space sector, and undertake a range of meetings across her space portfolio.  
    “I’m looking forward to meeting Colorado Governor Jared Polis again, and following through on an agreement we discussed when we last met. This Memorandum of Cooperation will deepen our relationship and offer opportunities for our aerospace, tech, science and geothermal sectors.” 
     Ms Collins is away from April 8-12.  

    MIL OSI New Zealand News –

  • MIL-OSI Australia: CFMEU asks for more powers on building sites – Australian Financial Review

    Source:

    A move to expand delegates’ rights aims to turn workers into defacto union organisers, AREEA CEO Steve Knott tells The Australian Financial Review. 

    The post CFMEU asks for more powers on building sites – Australian Financial Review appeared first on AREEA.

    MIL OSI News –

  • MIL-OSI: Lianhe Sowell Debuts on Nasdaq, Accelerating Business Growth Ambitions and Industry Revolution

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, April 03, 2025 (GLOBE NEWSWIRE) — Lianhe Sowell International Group Ltd (NASDAQ: LHSW), a company providing machine vision solutions, officially went public on the Nasdaq stock exchange on April 3, 2025, raising total gross proceeds of $8 million. Leveraging its proprietary industrial machine vision technologies, coupled with a clear strategic roadmap, the company hopes to accelerate its expansion into the burgeoning upgrade of equipment across key industries, such as automotive, biopharmaceutical, logistics, aerospace, and shipbuilding.

    Technological Excellence Anchored in Innovation

    Serving industrial clients for more than 17 years, Lianhe Sowell’s achievements in the industrial machine vision sector is rooted in its nine foundational technologies, which integrate advanced algorithms and hardware-software synergies to deliver precision-driven solutions. The company’s core expertise spans:

    • Image Processing Technology: Enabling micron-level defect detection in electronics manufacturing through real-time analysis of surface imperfections, achieving accuracy down to 0.1mm with inspection speeds as rapid as 0.5 second.
    • Sound Imaging Technology: Deploying phased-array principles to map spatial sound fields, enhancing safety monitoring in industrial settings by detecting anomalies like equipment malfunctions or hazardous noises.
    • Video Analysis and Recognition Technology: Utilizing neural networks for real-time behavior analysis in high-risk environments, such as identifying safety violations in chemical plants or optimizing traffic flow via intelligent transportation systems.
    • Nine-Axis Robotic Integration: Combining machine vision with agile 6-axis robotics for applications like automotive spray painting, the company’s flagship Nine-Axis Linkage Spray Painting Robots achieve great precision. The technology’s versatile capabilities can potentially be applied to various industrial spray-painting scenarios, enabling automation across multiple production processes.

    Strategic Growth Fueled by US IPO Proceeds

    The company’s recent US IPO has injected critical capital to accelerate its growth roadmap. A significant portion of the proceeds is earmarked for scaling production of its Nine-Axis robots, which will contribute to the plan to complete the set-up and assembling of the robot production line. This planned facility aims to produce 4,000 – 8,000 robotic units annually by 2028, targeting the automotive repair industry and adjacent sectors like welding and polishing.

    In addition, Lianhe Sowell also plans to use proceeds raised from the IPO to invest in its machine vision business including industrial machine vision, face recognition, AI behavior analysis, weak current intelligence and electronic customs clearance, in order to fund research and development of new products and market expansion, according to its filing.

    Financial Strengths and Future Expansion

    Lianhe Sowell’s IPO marks a pivotal step in its development. The company has demonstrated robust financial performance, sustaining rapid growth during the fiscal year ended March 31, 2024. From March 2023 to March 2024, it achieved revenue of $36.6 million, reflecting a 180% year-over-year increase, while net income grew by 75% over the same period.

    Post-IPO, Lianhe Sowell plans to allocate 45% of the offering proceeds to expand its spray-painting robot business, including the preliminary installation of production equipment and machineries of an in-house production and assembly line for production of Nine-Axis Linkage Spray Painting Robots. The company will also expand its technical and commercial teams to maintain its leadership in China’s industrial vision robotics and meet the surging demand in the automotive aftermarket for automation solutions.

    Company: Lianhe Sowell International Limited
    Contact Person: Iris Wu
    Email: sowellrobot@sowellrobot.com
    Website: http://www.sowellrobot.com/
    Telephone: +86 19154951787
    City: Shenzhen, China

    Photos accompanying this announcement are available at : 
    https://www.globenewswire.com/NewsRoom/AttachmentNg/96234652-530e-4c47-b398-10a630316c24

    https://www.globenewswire.com/NewsRoom/AttachmentNg/f83e5629-cc2c-46c4-ba70-8f73073c5f60

    The MIL Network –

  • MIL-OSI New Zealand: Otago Tourism School – Public lecture

    Source: Department of Conservation

    Date:  04 April 2025

    Tēnā koutou katoa

    It’s great to see so many people here interested in tourism that’s sustainable for the environment and the communities we live in.

    The Government is focused on economic growth – tourism on the land that DOC manages is a key part of that.

    I know that healthy nature and being able to operate on public conservation land with certainty, is important to many tourism operators.

    I also know you’re eagerly awaiting Ministerial decisions on the work to manage visitors better at Milford Sound.

    It’s coming – the Ministers of Tourism and Conservation are working on a paper and will be talking to their colleagues on it – and we can expect some announcements soon.

    I want to use this opportunity to take you through what DOC is doing to make sure people can get out, enjoy their time on conservation land and contribute to the economy.

    DOC’s role

    For those of you who don’t know us well, DOC manages more than a third of New Zealand’s land area, as well as hundreds of offshore islands, marine reserves, and national parks.

    We are responsible for 14,000 native species and we put a lot of effort into managing threats from predators, disease and human-related impacts.

    We also provide a huge range of visitor assets, including huts, campsites, picnic areas, shelters, bridges, toilets, and so many kilometres of tracks that, if you laid them out in a line, they would stretch from here to New York.

    We have the largest number of Treaty settlements to implement of any Crown agency – with more than 3 thousand specific obligations and commitments to working with iwi at culturally significant places.

    We operate under 25 different pieces of legislation, some of it really old and hard to navigate – for example the Wildlife Act was written 70 years ago, long before climate change was understood and before international visitor growth was a thing.

    We are also neighbours across 57,000 kilometres of land boundaries and have 17,000 kilometres of fences in our asset management system.

    So in a snapshot, we have very broad responsibilities – and we are doing it with 5% of the Government’s budget.

    We have to prioritise our work carefully because we can’t afford to do it all.

    Permissions at pace

    Many of you in this room will be interested in what we’re doing to make it easier for businesses to operate on public conservation land.

    You’re frustrated at the length of time it takes to get your permissions and concessions processed.

    I want to assure you we’re working on this at pace. It’s a major priority for our Minister; we’ve got targets we have to meet, and we are surging our effort on this.

    We need to clear the applications that are more than a year old by June this year.

    As soon as we close applications more come in, so we are also improving our systems. We don’t want numbers to creep back up and create more of a problem.

    We’re going at it hammer and tongs – we’ve got new technology coming to help us triage and track applications. So you can apply for a permit or concession online and track it in real time.

    We’re also batching up types of applications for processing and setting up panels to assess applications – so it’s faster.

    We found that processing drone applications was eating up a huge amount of our time – now we’ve worked with iwi and with our technical staff to determine in advance where drones are allowed and where the no-fly zones are.

    We now process all drone permits within a week and it’s cut down our admin time immensely.

    We’re looking to do similar things with other categories of permits.

    Part of the backlog is caused by all the layers of rules we are obliged to follow, so streamlining our legislation will be a big help – we’ve gone out for public consultation on that and advice will go to Ministers shortly.

    This is a big deal for DOC – we’re doing everything we can to shift this, to make it easier for you to work with us. It will help to grow local businesses, and we can free up time and resources to push back into conservation.

    DOC is New Zealand’s biggest tourism provider

    It’s important we get concessions right because concessionaires play an important role in the tourism system – DOC enables 1,000 tourism businesses to operate on conservation land and water.

    DOC is also the largest provider of visitor experiences in New Zealand, with over 16,000 hut beds. We enjoy hosting 64,000 walkers on the Great Walks each year.

    Conservation-related tourism is worth around $3.4 billion a year – that’s still down about $900m since before Covid, but numbers are starting to bounce back.

    Most visitors come here for our mountains, open landscapes, quirky wildlife, and unique cultural heritage.

    50% of international tourists visit national parks – a quarter of them deliberately seek out places of significance to Māori.

    80% of New Zealanders visit public conservation land each year.

    Visitor satisfaction is high, but we still have a lot to do to protect the experiences we’re promising, and make sure the environment is looked after.

    NZ’s economy needs nature

    Nature is key to the economy and if we don’t look after it, people will stop buying our products and they won’t visit.

    70% of NZ’s export earnings are from sectors that rely directly on natural resources.

    The clean air, quality soil, and fresh water that public conservation land provides are worth around $11 billion per year. [1]

    Natural and physical capital on public conservation land is worth $134 billion, and National Parks are worth $12.6 billion to New Zealanders.

    When storms take out DOC assets, your communities suffer.

    I know there’s huge frustration when tracks like Rob Roy and Blue Pools close at short notice.

    The torrential rain and floods in February 2020 which damaged more than 30 bridges and hundreds of kilometres of track, on the Routeburn and Milford tracks had a massive impact. That event, along with COVID hard on its heels, saw visitor spending in the region cut by half. [2]

    We’ve been working over the past five years to deliver a $14m flood recovery programme to restore these important visitor experiences.

    On the other hand there’s huge opportunity for conservation tourism – I know Real Journeys offers this – where people get involved while they’re out enjoying nature.

    Another opportunity is film tourism – the Lord of the Rings series has really helped send a postcard from New Zealand to the world and we should be exploring this further.

    Our economy depends on nature – but nature is in trouble.

    We have the highest proportion of threatened native species in the world – with more than 4,000 currently threatened or at risk of extinction.

    Climate change – more fires, floods and severe storms – are making the problem worse.

    We estimate it would cost around $2.3 billion per year to look after all threatened species properly and maintain healthy ecosystems to ensure their security.

    Our biodiversity budget is around $300 million – which puts us just in the ‘preventing losses’ space.

    Visitor network challenges

    When it comes to recreation – DOC has a few challenges.

    Our visitor network is large – we can only afford about 70% of it.

    We can’t replace all our existing assets as they reach the end of their useful life because we will run out of depreciation funding to replace them.

    And our construction costs are going up – in recent years we spent over $3m on the Mintaro hut and surrounding structures. It costs us 30% more now to build swing bridges in the back country than it did four years ago.

    Another challenge is to meet the growing and changing visitor demand. New Zealanders and international visitors want more accessible, shorter walks.

    Longer tramps are no longer in the top 20 activities.

    Severe weather is damaging the assets that we’ve got.

    Our spending on storm repairs has quadrupled in the past five years and 300 of our coastal assets are in the danger zone from rising sea levels.

    I know closures of key sites on the Milford Corridor like The Chasm have been frustrating for some operators and visitors.

    It’s in an area subject to extreme rainfall. We need to be confident we’re making the appropriate level of investment for the site.

    We’ve completed the geotech work and are progressing the design – but with tight resources we have to be careful.

    Likewise Tunnel Beach walkway in Dunedin suffered serious damage last year from torrential rain, and we’ve got similar issues there. Similarly Lake Sylvan near Glenorchy.

    Another emerging challenge is with social media influencers – whose photos are encouraging people to go beyond their capabilities to get that perfect insta shot.

    We’ve also seen some appalling and dangerous visitor behaviour this summer with people driving over birds nesting on beaches, and harassing sea lions to get a better photo or video.

    We’ve also had 5 fatalities this year where people have gone beyond track ends, including two recent ones in Otago.

    Responsible camping is another hot topic – the Valley of the Trolls and Brewster Glacier are the two local examples where the volume of people camping are having an impact on the sites, so we are encouraging people to camp responsibly.

    I applaud the actions being taken by the station owner at Earnslaw Station to keep the area pristine and reminding people to be respectful.

    Another issue DOC is seeing is the uneven distribution of visitors.

    Some assets are under-used with plenty having fewer than 200 visitors per year in places.

    On the other hand, some iconic locations such as Piopiotahi Milford Sound or Aoraki Mt Cook, are becoming increasingly popular, car parks are overflowing and this is negatively affecting the environment.

    We are working on how we manage numbers so the experience is safe and sustainable.

    So what are we doing about it?

    Here’s our plan for resolving some of these issues.

    There are things we can do under existing frameworks, so we’ve started.

    We’re taking a strategic approach to funding from the International Visitor Levy and investing it in ways that improves the visitor experience at our most popular places.

    For example, national parks – people come here for nature so we need to make sure nature’s sustained in those areas.

    We’re also investing in short walks – bringing tracks back up to standard, removing graffiti, re-gravelling tracks.

    We’re looking at charging for carparks and more of our huts – this improves the proportion of charges to the user, reducing the cost to all New Zealanders.

    From next summer we will pilot carparking charges at Aoraki/Mt Cook, Punakaiki and Franz Josef Glacier to help manage visitor numbers and cover upkeep costs – like other countries do.

    I’ve already told you the work we’re doing at pace to fix our permissions system.

    What’s coming

    In future we’re exploring charges to access some high-volume areas, like they do overseas, to help pay toward the upkeep of the visitor network.

    Currently we can only charge people who stay in a hut, or businesses who operate on conservation land.

    Visitors who do short walks – the most popular activity – don’t pay anything.

    We’ve been out for public consultation and overall the feedback was supportive – especially for charging international visitors more.

    On law reform, we want to prune back all the layers of regulation that are paralysing us. Modernising legislation will help fix this by cutting processing times and reducing costs for businesses.

    We’re also looking at our visitor network and trying different things. We want to realign our network to make sure it’s affordable and we can better meet the changing demand for experiences.

    We need to build in resilience so we’re not just building back assets which will get washed away in the next flood.

    We’re thinking of different categories like ‘buckets’, being really clear about what’s special to New Zealanders and keeping visitor risk and safety top of mind.

    The first bucket would be the things that DOC will absolutely continue to own and maintain, things like Great Walks, highly visited tracks, huts, and campsites.

    There might be some experiences that DOC wants to move away from.

    Like a hut at a road end where people regularly load up with lots of alcohol and then trash it. Or parts of tracks that are continually being washed out.

    And then we need to work out the things DOC would still own, but others might manage.

    Like halls, pools and some camp sites.

    We are also looking at how we partner with others to provide experiences – we’ve just done this on the new Hump Ridge track Great Walk – with the Charitable Trust operating it under a licensing agreement.

    The Backcountry Trust is doing an amazing job of maintaining our low use, backcountry huts – and we’re partnering with them through the Community Hut Programme and funding from the visitor levy.

    I want to be clear that no decisions have been made by Ministers yet – there is still a way to go. It will also be phased in over time.

    We’re preparing advice on this now and hope to get that to Ministers by the middle of this year.

    Ministers will need to make some tough calls on doing things differently – Minister Potaka has said publicly he wants us to sharpen our focus so we’re putting our resources into the things that matter most.

    That means concentrating on high value conservation areas and species, and key visitor destinations – and working out where we should divest, co-fund or partner with others on.

    Tongariro Alpine Crossing – case study

    We’re already testing ideas on managing visitors at our busiest spots – like the Tongariro Alpine Crossing.

    We’ve had a lot of problems in the past with high visitor numbers, people not properly prepared, and visitors not respecting the track or the mountain – in fact some would go to the toilet on the track.

    We’ve been working in partnership with Ngāti Hikairo and local tourism operators and come up with some innovative solutions.

    We’ve introduced the first booking system for a day walk in NZ.

    We’ve got Manaaki Rangers on site during peak times to explain the cultural heritage and why it’s important to respect the mountain.

    We have done a lot of research to understand the impacts of visitors, including what the carrying capacity is and what the environmental impacts are.

    We’ve also added a climate station to help support concessionaries with better weather forecasts.

    And we’re running behaviour change campaigns.

    We’re getting results – 80 – 90% of visitors are complying with the booking system, which has given us the ability to directly contact walkers before they head out and give them the safety and cultural messages.

    As a result visitors are now a lot more aware and respectful of the environment they’re heading into.

    Working with Ngāti Hikairo has also helped us connect with concessionaires, so they understand the cultural importance of the landscape – hosting hui with operators has helped work through issues and opportunities.

    This work is not easy, but this case study shows it can be done. We need to work out how to scale up this model and apply it elsewhere.

    Again – it’s not perfect, but we’re making progress and we will test and adapt.

    Cathedral Cove – case study

    Another example of where we’re working with manawhenua and local businesses to manage visitors is at Mautohe / Cathedral Cove in Coromandel.

    The walking track was closed for an extended period because of damage from Cyclone Gabrielle, and we had concerns about visitor safety – falling rocks, track washed away.

    Funding from the International Visitor Conservation and Tourism Levy meant we could reinstate walking access by re-routing the track temporarily.

    We’re pleased to see visitors enjoying the cove again – with hundreds of people a day back over summer.

    We’re doing intensive monitoring of numbers – we’ve looked at how to manage visitors through car parking and shuttles.

    And we had our staff and ambassadors on site over summer to ensure people have a great time and the place is well looked after.

    Ongoing geological risk is one of the main challenges we have at this site. The response plan gives us a good process and guidelines to manage visitor safety and minimising risk for visitors.

    The plan involves monitoring the weather – in particular heavy rain, and seismic information – if there are concerns we trigger inspections of the track and decide whether we need to take action to minimise the risk to visitors.

    Mobilising for Nature 

    We also want people to fall in love with nature and mobilise them into action.

    We want to create a nationwide movement where action for nature is something we all do, because we are proud of our unique species and landscapes.  

    But so many New Zealanders don’t see the scale of the challenge or fully appreciate the consequences of losing what we have. 

    And if they do want to get involved, they don’t know how.

    We’re focusing on raising awareness at scale and attracting more funding from other parties to sustain our important conservation delivery work. 

    DOC and New Zealand Nature Fund are piloting a Nature Prospectus – so the public can donate directly to, or corporates can fund, three priority projects.

    We’ve also signed up to the International Island Ocean Connection Challenge – to rewild three of our biggest islands – Auckland Island, Chatham Islands and Rakiura – to bring more revenue from international philanthropists.

    Tourism needs nature – making Rakiura predator free will be a big part of this and I encourage you to get behind it – you only need to see how Ulva Island draws the tourists.

    We’re aiming to connect people with nature – including encouraging people to get out into nature.

    We will also be developing a range of actions that are easily available for people and businesses to take, including donating or investing.

    Close

    So you can see DOC has many roles and challenges.

    We are working at pace on them.

    I appreciate those of you who’ve provided feedback on our proposals to modernise our legislation and explore access charging.

    I’m looking forward to hearing your feedback and having a discussion with you.

    Kia ora

    Related links

    1. Assessing the value of public conservation land: Managing conservation
    2. Report from Great South, outlines the serious economic and social impact on Te Anau and Fiordland from the twin disasters of unprecedented floods in February and border closures due to COVID-19. Fiordland counts the cost post floods and COVID-19

    Contact

    For media enquiries contact:

    Email: media@doc.govt.nz

    MIL OSI New Zealand News –

  • MIL-OSI USA: Senator Marshall Pens Op-Ed in The Daily Signal: Dr. Oz Will Save Medicare, Strengthen Medicaid, Secure a Healthier America

    US Senate News:

    Source: United States Senator for Kansas Roger Marshall

    Washington – U.S. Senator Roger Marshall, M.D. (R-Kansas) penned an op-ed in The Daily Signal in support of President Donald Trump’s nominee for the Centers for Medicare and Medicaid Services, Dr. Mehmet Oz.

    You may click HERE.
    Highlights from Senator Marshall’s op-ed include:  
    “Medicaid and Medicare are on a path that should concern all Americans, but with the right leadership, we can turn their trajectory around.
    On its current course, Medicare, the government-run health insurance program for seniors, will fall off a financial cliff in as little as a decade – maybe even sooner. Meanwhile, Medicaid, the program that pays for health care for the poor, now covers more people than Medicare, placing an enormous strain on both state and federal budgets. 
    As a nation, we face a chronic disease epidemic, and along with it, a crisis of unsustainable rising costs, high demand, and worsening patient outcomes. Over the past five years, Medicaid spending has surged by some 50% – another unsustainable trend that diverts funds from schools, roads, bridges, and high-speed internet.
    Together, Medicare and Medicaid will each spend roughly a trillion dollars this year. That’s why we urgently need a Centers for Medicare and Medicaid Services administrator who can rescue Medicare and fortify Medicaid.
    As both programs fall under the Centers for Medicare and Medicaid Services, we need a leader with a fresh perspective – one who prioritizes patient care while ensuring financial stability. This role demands someone who has experienced these programs at the grassroots level, where patients, doctors, and hospitals intersect. 
    This person must be an exceptional communicator, capable of managing a $2 trillion budget and transforming an organization of 6,000 employees who oversee the health needs of 140 million Americans. This budget accounts for nearly a quarter of federal spending in a system that already overspends by $2 trillion annually. 
    Above all, we need someone who can help us in our mission to Make America Healthy Again.
    Thankfully, we have just the person for the job: Dr. Mehmet Oz.”

    MIL OSI USA News –