Category: Finance

  • MIL-OSI Asia-Pac: President Lai welcomes President Hilda C. Heine of Republic of the Marshall Islands with military honors  

    Source: Republic of China Taiwan

    Details
    2025-05-29
    President Lai attends 2025 Europe Day Dinner
    On the evening of May 29, President Lai Ching-te attended the 2025 Europe Day Dinner. In remarks, President Lai stated that Taiwan looks forward to further establishing institutionalized mechanisms with Europe for our trade and investment ties and hopes to take an innovative and diverse approach to sign an economic partnership agreement with the European Union, to provide a more transparent, stable, and predictable business environment for our enterprises. The president said that Taiwan will actively work alongside other democracies, including those in Europe, to jointly build resilient, promising non-red supply chains, and noted that Taiwan and Europe have endless potential for collaboration, whether it is in safeguarding freedom and democracy or advancing our economic and trade relationship. He expressed hope to further strengthen our partnership and work together toward global peace, stability, and prosperity. A transcript of President Lai’s remarks follows: Chairman [Henry] Chang (張瀚書), thank you for the invitation, and congratulations on your second term. I’m confident that under your leadership, the ECCT [European Chamber of Commerce Taiwan] will build even more bridges for cooperation between Taiwan and Europe. I would also like to thank EETO [European Economic and Trade Office] Head [Lutz] Güllner and all the European country representatives stationed in Taiwan. Your hard work over the years has helped deepen Taiwan-Europe relations and brought about such fruitful cooperation. Thank you. This year we celebrate the 75th anniversary of the Schuman Declaration. In 1950, then-French Foreign Minister Robert Schuman proposed to create a European federation dedicated to preserving peace. The declaration symbolized a new flowering in the post-war era of democracy, unity, and cooperation. As we face the geopolitical challenges and drastic economic changes of today’s world, the Schuman Declaration still speaks to us profoundly. This year is also the 80th anniversary of the end of World War II in Europe. Moving forward, Taiwan will continue to advance cooperation with our democratic partners, and will join hands with Europe to build a partnership of even greater resilience and mutual trust. Europe is Taiwan’s third largest trading partner. It is also Taiwan’s largest source of foreign direct investment. Last year, bilateral trade between Taiwan and Europe totaled US$84.7 billion. This demonstrates our vibrant economic and trade ties and reflects the high levels of confidence our businesses have in each other’s markets and systems. We look forward to Taiwan and Europe further establishing institutionalized mechanisms for our trade and investment ties. And we hope to take an innovative and diverse approach to sign an economic partnership agreement with the EU, to provide a more transparent, stable, and predictable business environment for our enterprises. Today’s Taiwan has an internationally recognized democracy and a semiconductor industry vital to global security and prosperity. This enables us to play a key role in restructuring global democratic supply chains and the economic order. In particular, we see supply chains dominated by a new authoritarian bloc expanding their influence through non-market mechanisms, price subsidies, and monopolies on resources, as they seek global control of critical technologies and manufacturing capabilities. Their actions not only distort principles of market fairness, but also threaten the international community’s basic expectations for democracy, the rule of law, and corporate responsibility. In response, Taiwan will actively work alongside other democracies, including those in Europe, to jointly build resilient, promising non-red supply chains. We will also introduce an initiative on semiconductor supply chain partnerships for global democracies. This is more than a proposal for economic cooperation; it is an alliance of shared values and advanced technology. Security in the Taiwan Strait and regional peace and stability have always been issues of mutual interest for Taiwan and Europe. So here today, on behalf of all the people of Taiwan, I would like to thank the EU and European nations for continuing to take concrete actions in public support of peace and stability across the strait. Such actions are vital to regional security and prosperity. Taiwan will continue to bolster itself to achieve real peace through strength, and will work with democratic partners to safeguard freedom and democracy, thereby showing our determination for regional peace. At this critical time, Taiwan and Europe have endless potential for collaboration, whether it’s in safeguarding freedom and democracy or advancing our economic and trade relationship. I look forward to our joining hands at this strategic juncture to further strengthen our partnership and work together toward global peace, stability, and prosperity. Also in attendance at the event was British Office Taipei Representative Ruth Bradley-Jones.

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    2025-05-28
    President Lai meets US delegation led by Senator Tammy Duckworth
    On the afternoon of May 28, President Lai Ching-te met with a delegation led by United States Senator Tammy Duckworth. In remarks, President Lai thanked the US Congress and government for their longstanding and bipartisan support for Taiwan. The president stated that Taiwan will continue to strengthen cooperation with the US and jointly safeguard regional peace and stability. He pointed out that the Taiwan government has already proposed a roadmap for deepening Taiwan-US trade ties and will encourage mutual investment between Taiwanese and US businesses. He then expressed hope of deepening Taiwan-US ties and creating more niches for both sides. A translation of President Lai’s remarks follows: I warmly welcome this delegation led by Senator Duckworth, a dear friend of Taiwan. Senator Duckworth previously visited in May last year to convey congratulations after the inauguration of myself and Vice President Bi-khim Hsiao. Your bipartisan delegation was the first group from the US Senate that I met with as president. Today, you are visiting just after the first anniversary of my taking office, demonstrating the staunch support of the US and our deep friendship. On behalf of the people of Taiwan, I extend my sincere appreciation and greetings. And I invite you to come back and visit next year, the year after that, and every year. Taiwan and the US share the values of democracy and the rule of law and believe in free and open markets. Both sides embrace a common goal of peace, stability, and prosperity in the Indo-Pacific region. I thank the US Congress and government for their longstanding, bipartisan, and steadfast support for Taiwan. In 2021, to help Taiwan overcome the challenges of the COVID-19 pandemic, Senator Duckworth made a special trip here to announce that the US government would be donating vaccines to Taiwan. In recent years, Senator Duckworth has also promoted the TAIWAN Security Act, STAND with Taiwan Act, and Taiwan and America Space Assistance Act in the US Congress, all of which have further deepened Taiwan-US cooperation and steadily advanced our ties. For this, I express my deepest appreciation. I want to emphasize that the people of Taiwan have an unyielding determination to protect their homeland and free and democratic way of life. Over the past year, the government and private sector have been working together to enhance Taiwan’s whole-of-society defense resilience. The government is committed to reforming national defense, and it has proposed prioritizing special budget allocations to ensure that our defense budget exceeds three percent of GDP. This will continue to bolster Taiwan’s self-defense capabilities. Moving forward, Taiwan will continue to strengthen cooperation with the US. In addition to jointly safeguarding regional peace and stability, we also aspire to deepen bilateral trade and economic ties. At the SelectUSA Investment Summit in Washington, DC, earlier this month, Taiwan’s delegation was once again the biggest delegation attending the event – proof positive of our close economic and trade cooperation. We have already proposed a roadmap for deepening Taiwan-US trade ties. We will narrow the trade imbalance through the procurement of energy and agricultural and other industrial products from the US. We will encourage mutual investment between Taiwanese and US businesses to stimulate industrial development on both sides, especially in such industries as national defense and shipbuilding. We therefore look forward to Congress passing the US-Taiwan Expedited Double-Tax Relief Act as soon as possible, as this would deepen Taiwan-US trade ties and create more niches for business. In closing, I once again thank Senator Duckworth for making the trip to Taiwan. Let us continue to work together to elevate Taiwan-US ties. I wish you a pleasant and successful visit. Senator Duckworth then delivered remarks, saying that she is happy to be back in Taiwan and that she wanted to make sure to come back just after President Lai’s one-year anniversary of taking office to show the dedication and the outstanding friendship that we have. She noted that because no matter who is in the White House, no matter which political party is in power in Washington, DC, she has always believed that if America wants to remain a leader on the global stage, it has to show up for friends like Taiwan.  Senator Duckworth mentioned that in the years that she has been coming to Taiwan since pre-COVID times, she has seen a remarkable increase in participation in its defense and the support of the Taiwanese people for defending the homeland. She then thanked Taiwan for making the commitment to its self-defense, and also for being a partner with other nations around the world.  The STAND with Taiwan Act, the senator noted, is so named because the US wants to stand side by side with Taiwan. Pointing out that Taiwan is an important leader in the Indo-Pacific and on the global stage, she reiterated that there is support on both sides of the aisle in Washington for Taiwanese democracy, and added that the people of Taiwan are showing that they are willing to shore up their own readiness. Senator Duckworth said that whether it is delivering vaccines to Taiwan or making sure that the US National Guard works with Taiwan’s reserve forces or even with its civilian emergency response teams, these are all important components to the ongoing partnership between our nations.  Senator Duckworth indicated that there are many great opportunities moving forward beyond our military cooperation with one another. Whether it is in chip manufacturing, agricultural investments, shipbuilding, or in the healthcare field, those investments in both nations will facilitate stability and development in both our nations. She said that is why she wants to continue the Taiwan-US relationship, underlining that they are in it for the long haul. The delegation was accompanied to the Presidential Office by American Institute in Taiwan Taipei Office Director Raymond Greene.

    Details
    2025-05-27
    President Lai meets delegation led by US House Natural Resources Committee Chair Bruce Westerman
    On the afternoon of May 27, President Lai Ching-te met with a delegation led by Chair of the Natural Resources Committee of the United States House of Representatives Bruce Westerman. In remarks, President Lai stated that Taiwan and the US enjoy close industrial exchanges and continue to explore new opportunities for investment and collaboration. The president said that Taiwan will continue to increase purchases from and together build non-red supply chains with the US, expressing hope that economic and trade relations grow even closer and that both work together to jointly safeguard peace and stability throughout the region. A translation of President Lai’s remarks follows: I am delighted to meet and exchange views with members of the US House Committee on Natural Resources today. Chair Westerman, the leader of this delegation, is an old friend of Taiwan. On behalf of the people of Taiwan, I extend a very warm welcome to the delegation. I also want to thank you all for your long-term close attention to Taiwan-related affairs and your strong support for Taiwan. Taiwan and the US enjoy close ties and share ideals and values. There is an excellent foundation for cooperation between us, particularly in such areas as energy, the economy and trade, agriculture and fisheries, environmental protection, and sustainable development. In recent years, Taiwan-US ties have grown closer and closer. The US has become Taiwan’s largest destination for overseas investment, accounting for over 40 percent of Taiwan’s outbound investment. Taiwan is also the seventh largest trading partner of the US and its seventh largest export market for agricultural products. The SelectUSA Investment Summit held in Washington, DC earlier this month was the largest in its history. Taiwan’s delegation, representing 138 enterprises, was once again the biggest delegation attending the event. This shows that Taiwan and the US enjoy close industrial exchanges and continue to explore new opportunities for investment and collaboration. Looking ahead, with the global landscape changing rapidly, Taiwan will continue to increase purchases from the US, including energy resources such as natural gas and petroleum, as well as agricultural products, industrial products, and even military procurement. This will not only help balance our bilateral trade, but also strengthen development for Taiwan in energy autonomy, resilience, the economy, and trade. Taiwan and the US are also well-matched in such areas as high tech and manufacturing. As the US pursues reindustrialization and aims to become a global hub for AI, Taiwan is willing to take part and play an even more important role. We will strengthen Taiwan-US industrial cooperation and together build non-red supply chains. In addition to bringing our economic and trade relations even closer, this will also allow Taiwanese industries to remain rooted in Taiwan while expanding their global presence, helping bolster the US, and marketing worldwide. As for military exchanges, we are grateful to the US government for continuing its military sales to Taiwan and backing our efforts to upgrade our self-defense capabilities. Taiwan will continue to work with the US to jointly safeguard peace and stability throughout the region. In closing, I thank our guests once again for making the long journey here, not only offering warm friendship, but also demonstrating the staunch bipartisan support for Taiwan in the US Congress. Chair Westerman then delivered remarks, saying that it is an honor for him and his colleagues to be in Taiwan to talk about the strong relationship between the US and Taiwan and how that relationship can continue to grow in the future. The chair pointed out that natural resources are foundational to any kind of economic development, whether it is energy, which is key to manufacturing, or whether it is mining, which provides rare earth elements and all the minerals and metals needed for manufacturing. He said that as for natural resources including fish, wildlife, or timber, all are foundational to any society, but this is especially so for agriculture, noting that the US produces a lot of food and fodder and is always looking for more friends to share that with. Chair Westerman indicated that they are excited about opportunities to work with Taiwan, adding that Taiwan’s investments in the US have been greatly appreciated. He said they also are excited about the talks with the Trump administration and the future going forward on how we can have a stronger trade relationship, a stronger bilateral relationship, and how we can work with each other to help both economies grow and prosper. Chair Westerman concluded his remarks by expressing thanks for the opportunity to visit, saying that they treasure Taiwan’s friendship and our long-term relationship, and are very excited to be able to discuss in more detail how our two countries can work together. The delegation also included US House Natural Resources Committee Representatives Sarah Elfreth, Harriet Hageman, Celeste Maloy, and Nick Begich. The delegation was accompanied to the Presidential Office by American Institute in Taiwan Taipei Office Director Raymond Greene.  

    Details
    2025-05-27
    President Lai meets and hosts luncheon for delegation led by Governor Lourdes A. Leon Guerrero of Guam
    On the morning of May 27, President Lai Ching-te met with a delegation led by Governor Lourdes A. Leon Guerrero of Guam and her husband, and hosted a luncheon for the delegation at noon. In remarks, President Lai noted that this is the governor’s first trip to Taiwan, fully demonstrating the Guam government’s support and high regard for Taiwan. The president said that Guam, being the closest United States territory to Taiwan, is an important bridge for collaboration between Taiwan and the US. He stated that aside from promoting tourism, we can also explore even more opportunities for collaboration in other areas to further advance industrial development for both sides. He said that, as we begin a new chapter, we look forward to working together to generate even more momentum in bilateral cooperation and exchanges. A translation of President Lai’s remarks follows: On behalf of the people of Taiwan, I extend a warm welcome to Governor Leon Guerrero and her delegation. Last year, I transited through Guam en route for visits to Taiwan’s diplomatic allies in the Pacific. The enthusiastic reception I received from the government, legislature, people, and members of our overseas community in Guam was very touching and left me with a deep impression. During the morning tea reception hosted by Governor Leon Guerrero, we joined in singing our respective national anthems, as well as the Fanohge CHamoru. I also received at the Guam Legislature a copy of a Taiwan-friendly resolution it passed on behalf of the people of Taiwan. And I still remember to this day the striking scenery of the governor’s house and the warm reception I received there. It is therefore a great pleasure to meet with all of you today here at the Presidential Office. This is Governor Leon Guerrero’s first trip to Taiwan. Your visit fully demonstrates the Guam government’s support and high regard for Taiwan. As we begin a new chapter, we look forward to working with you to generate even more momentum in bilateral cooperation and exchanges. Taiwan and Guam are like family. We share the Austronesian spirit and culture. Our wide-ranging and mutually-beneficial collaboration is very fruitful. And now, we are facing the challenges of climate change, public health and medicine, and regional security together. The world is rapidly changing and tensions in the Indo-Pacific continue to rise. But if we combine our strengths, come together as one, and enhance cooperation, we can maintain regional peace, stability, and prosperity. Last Tuesday, I delivered an address on my first anniversary of taking office. I mentioned that for many years, Taiwan, the US, and our democratic partners have actively engaged in exchange and cooperation. Taking a market-oriented approach, we will promote an economic path of staying firmly rooted in Taiwan and expanding the global presence of our enterprises while strengthening ties with the US. Guam is the closest US territory to Taiwan. It is an important bridge for collaboration between Taiwan and the US. Last month, we were pleased to see United Airlines officially launch direct flights between Taipei and Guam. I believe this will benefit tourism and economic and trade exchanges for both sides. In the area of health care, many hospitals in Taiwan already offer referral services to patients from Guam. Both Governor Leon Guerrero and I have backgrounds in medicine. It is my hope that Taiwan and Guam can continue to work hand in hand to create even more positive outcomes from cooperation in public health and medical services. During the governor’s visit, aside from promoting tourism, we can also explore even more opportunities for collaboration in other areas. There is potential for more exchanges in aquaculture, food processing, hydroculture, manufacturing, pharmaceuticals, and recycling. This will further advance industrial development in Taiwan and Guam. In closing, I thank Governor Leon Guerrero and all our distinguished guests for backing Taiwan. I wish you all a smooth and successful visit.  Governor Leon Guerrero then delivered remarks, saying that she is very happy to come to Taiwan. She said that after learning during President Lai’s visit to Guam last year that he is a medical doctor, she felt more relaxed because healthcare colleagues are one in their endeavor to help enhance the health and well-being of people. She then expressed her heartfelt appreciation for the invitation to Taiwan.  Governor Leon Guerrero said that as they learn more about opportunities for collaboration with Taiwan, they are humbled by the hospitality they have experienced. In both of our islands, she said, hospitality is more than just a custom – it forms a part of our identities. She noted that despite being nearly 2,000 miles apart, we are connected by the Pacific Ocean and common roots, and our ancestors both value family, community, and tradition. That is why being here today, she said, she feels a strong sense of familiarity, like reconnecting with old friends. The governor remarked that Taiwan has evolved so quickly in all areas of essential life, sustenance, economy, and prosperity, adding that Taiwan’s resources in such areas as health, education, data, AI, advanced technology, aquaculture, agriculture, and commerce enhance our economic stability. She stated her belief that in collaboration and support, and working with each other, we can gain prosperity, maintain freedom and democracy, and live in peace.  Governor Leon Guerrero stated that their delegation is here to see how they can partner with Taiwan to help raise the quality of life for both our peoples, mentioning that one special concern of theirs is tourism. Tourism, she said, is the most influential engine and driver for the economy and quality of life in Guam, but they cannot have a vibrant economy and tourism without air connectivity. She added that they are prepared to help in any way to provide incentives and low-cost fees so that they can get more airlines from Taiwan to establish permanent flight schedules to Guam, so as to drive development in Guam’s tourism industry. Governor Leon Guerrero then proceeded to introduce each of the members of her delegation before remarking that while they have been very busy on this visit they are always reminded of the freedom and democracy that the people must protect. She said she looks forward to a great, strong relationship between Taiwan and Guam in cooperation on social and economic issues, in culture, marketing, tourism, and freedom and democracy. Among those in attendance were First Gentleman Jeffrey A. Cook, Chief of Staff Jon Junior Calvo, Director of the Department of Administration Edward Birn, General Manager of the Guam Visitors Bureau Regine Biscoe Lee, Deputy Executive Manager of the Guam International Airport Authority Artemio “Ricky” Hernandez, Board of Directors Chairman of the Guam International Airport Authority Brian J. Bamba, Deputy General Manager of the Guam Economic Development Authority Carlos Bordallo, Director of Landscape Management Systems Guam Bob Salas, Chairperson of the Guam Chamber of Commerce Tae Oh, President of the University of Guam Anita Borja Enriquez, and Director of the Guam Taiwan Office Felix Yen (嚴樹芬). After the meeting, President Lai, accompanied by Vice President Bi-khim Hsiao, hosted a luncheon for Governor Leon Guerrero, her husband, and the delegation.

    Details
    2025-05-27
    President Lai meets delegation from European Parliament
    On the morning of May 27, President Lai Ching-te met with a delegation from the European Parliament. In remarks, President Lai thanked the European Parliament for continuing to pay close attention to peace and stability across the Taiwan Strait and voice support for Taiwan. The president expressed hope for an even closer relationship and diversified cooperation between Taiwan and the European Union. The president said that Taiwan and the EU can work together in such areas as semiconductors, AI, and green energy to create more resilient supply chains for global democracies and contribute to global prosperity and development. A translation of President Lai’s remarks follows: I warmly welcome our guests to the Presidential Office. After being elected last year, MEPs Reinis Pozņaks and Beatrice Timgren are making their first visits to Taiwan, demonstrating support for Taiwan through concrete action. On behalf of the people of Taiwan, I extend my sincerest welcome and appreciation. I would also like to take this opportunity to thank the European Parliament for continuing to pay close attention to peace and stability across the Taiwan Strait. Just last month, the European Parliament adopted resolutions with regard to annual reports on the implementation of the European Union’s Common Foreign and Security Policy and Common Security and Defence Policy. These resolutions reaffirmed the EU’s steadfast commitment to maintaining the status quo across the Taiwan Strait. The European Parliament also condemned China for continuing to take provocative military actions against Taiwan and emphasized that Taiwan is a key democratic partner in the Indo-Pacific region. It called on the EU and its member states to continue working closely with Taiwan to strengthen economic, trade, and investment ties. Once again, I thank the European Parliament for voicing support for Taiwan. Just as MEPs Pozņaks and Timgren are visiting Taiwan to strengthen Taiwan-EU exchanges, our Minister of Economic Affairs Kuo Jyh-huei (郭智輝) also led a delegation to Europe last year, marking the first in-person dialogue between high-ranking economic and trade officials of Taiwan and the EU. Moving ahead, we look forward to bringing Taiwan-EU ties even closer and to diversifying our cooperation. The EU is Taiwan’s largest source of foreign investment. Both sides are highly complementary in such areas as semiconductors, AI, and green energy. Through our joint efforts, we can create more resilient supply chains for global democracies and further contribute to global prosperity and development. Looking ahead, I hope that MEPs Pozņaks and Timgren will continue to make the case in the European Parliament for the signing of a Taiwan-EU economic partnership agreement. This would not only yield mutually beneficial development, but also consolidate economic security and boost international competitiveness for both sides. In closing, I am sure that you will gain a deeper understanding of Taiwan through this visit. Please feel welcome to come back as often as possible as we continue to elevate Taiwan-EU ties.  MEP Pozņaks then delivered remarks, saying that it is a great honor to be here and thanking everybody involved in arranging this trip that allows them the opportunity to better know Taiwan. He added that it is definitely not the last time they will be here, as Taiwan is a very beautiful country. MEP Pozņaks mentioned that he comes from Latvia, and despite their being on the other side of the world, they know how the Taiwanese people feel, because they also have a big neighbor who is claiming that Latvia belongs to them. Unfortunately, he said, there is already war in Europe, but he is confident that their situation is similar to Taiwan’s, adding that they have a neighbor who uses disinformation attacks. MEP Pozņaks said that we live in very challenging times, and that our choices will define the future of the world, asking whether it will be a world where the rule of law prevails or where physical power and aggression succeeds. Coming from a small country, he said he clearly understands that for them there is no other possibility; they must protect the world where the rule of law prevails. That is why now, he emphasized, it is very crucial for all democracies around the world to stick together to protect our freedoms, values, and democracy. MEP Timgren then delivered remarks, thanking President Lai for meeting with them and saying it is a big honor. Noting that they arrived here two days ago and that while she really loves Taiwan, its food, and the good weather, she stated that the reason they are here is because of the values that we share, our good relationships, and solidarity with other democratic countries in the world, which is important for them in Europe and in Sweden. MEP Timgren, referring to MEP Pozņaks’s earlier remarks, said that they face a big threat from Russia that is discernible even in the European Parliament. Actually, she pointed out, there is a war inside Europe that shows us how important it is that we support one another. She said that the Russian people thought it would be easy to take over Ukraine, but it was not, because all European countries stepped up and provided weapons and support. And that is why, MEP Timgren said, it is important that democratic countries maintain good relationships and let China and Russia see that we have good relationships, because a part of defense is solidarity. In closing, she expressed her gratitude for having the honor to be here in this beautiful country.

    Details
    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    MIL OSI Asia Pacific News

  • MIL-OSI: Orange County Bancorp, Inc. Announces Pricing of Public Offering of Common Stock

    Source: GlobeNewswire (MIL-OSI)

    MIDDLETOWN, N.Y., June 03, 2025 (GLOBE NEWSWIRE) — Orange County Bancorp, Inc. (the “Company” – Nasdaq: OBT), parent company of Orange Bank & Trust Company, (the “Bank”) and Hudson Valley Investment Advisors, Inc. (“HVIA”), today announced the pricing of an underwritten public offering of 1,720,430 shares of its common stock at a price of $23.25 per share. The Company also granted the underwriters a 30-day option to purchase up to an additional 258,064 shares of common stock.

    The aggregate gross proceeds of the offering will be approximately $40.0 million before discounts and expenses. Assuming full exercise by the underwriters of their option to purchase additional shares, the aggregate gross proceeds of the offering would be approximately $46.0 million before discounts and expenses. The Company plans to use the net proceeds from the offering for general corporate purposes, which may include investments in the Bank supporting continued growth, augmenting regulatory capital and liquidity and providing for potential strategic acquisitions. The Company has no current plans, arrangements or understandings relating to any specific acquisition or similar transaction. The offering is expected to close on June 5, 2025, subject to customary closing conditions.

    Piper Sandler & Co. and Stephens Inc. are serving as joint book-running managers.

    The Company has filed with the Securities and Exchange Commission (the “SEC”) a shelf registration statement (including a prospectus) on Form S-3 (File No. 333-280793) and a preliminary prospectus supplement for the offering to which this press release relates. Before you invest, you should read the preliminary prospectus supplement and the accompanying prospectus, including the information incorporated by reference therein, and the other documents we have filed and will file with the SEC for more complete information about the Company and this offering. The proposed offering is being made only by means of an effective shelf registration statement, including a preliminary prospectus supplement and final prospectus supplement, copies of which may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. Additionally, electronic copies may be obtained from Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by phone at 1-800-747-3924, or by email at prospectus@psc.com, or Stephens Inc., 111 Center Street, Little Rock, AR 72201, or by phone at 1-800-643-9691.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.   The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement or the shelf registration statement or prospectus relating thereto.

    About Orange County Bancorp, Inc.

    Orange County Bancorp, Inc. is the parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors, Inc. Orange Bank & Trust Company is an independent bank that began with the vision of 14 founders over 125 years ago. It has grown through innovation and an unwavering commitment to its community and business clientele to approximately $2.6 billion in total assets. Hudson Valley Investment Advisors, Inc. is a Registered Investment Advisor in Goshen, NY. It was founded in 1996 and acquired by the Company in 2012.

    Forward-Looking Statements

    The information disclosed in this press release includes various forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words “anticipates,” “projects,” “intends,” “estimates,” “expects,” “believes,” “plans,” “may,” “will,” “should,” “could,” and other similar expressions are intended to identify such forward-looking statements. The Company cautions that these forward-looking statements are necessarily speculative and speak only as of the date made, and are subject to numerous assumptions, risks and uncertainties, all of which may change over time. Actual results could differ materially from such forward-looking statements. Accordingly, you should not place undue reliance on forward-looking statements. In addition to the specific risk factors disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, the following factors, among others, could cause actual results to differ materially and adversely from such forward-looking statements: those related to the real estate and economic environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, inflation, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, tariffs, increased levels of loan delinquencies, problem assets and foreclosures, credit risk management, asset-liability management, cybersecurity risks, geopolitical conflicts, public health issues, the financial and securities markets and the availability of and costs associated with sources of liquidity. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

    For further information:
    Michael Lesler
    EVP & Chief Financial Officer
    mlesler@orangebanktrust.com
    Phone: (845) 341-5111

    The MIL Network

  • MIL-OSI USA: Governor Polis Signs Bills into Law Supporting Service Members, Veterans, and Military Connected Coloradans and Families

    Source: US State of Colorado

    DENVER – Today, Governor Polis bills into law to support members of the military, veterans, and military connected families. 

    Governor Polis signed the following bills into law: 

    • SB25-279 – Colorado Code of Military Justice Updates, sponsored by Senators Matt Ball Byron Pelton, and Representatives Monica Duran and Andrew Hartsook
    • SB25-282 – Protections for Veterans Seeking Benefits, sponsored by Senators Matt Ball and Byron Pelton, and Representatives Lisa Feret and Ryan Armagost
    • HB25-1083 – Vehicle Transactions Deployed Military Families, sponsored by Representatives Eliza Hamrick and Marry Bradfield, and Senators Lisa Frizell and Dafna Michaelson Jenet 

    “Military families and veterans have long called Colorado home, and we are committed to continuing our work to expand resources for military connected Colordans by protecting veterans benefits, creating more transportation options for military families, and ensuring mission readiness for active military personnel,” said Governor Polis. 

    Governor Polis also signed SB25-304 – Measures to Address Sexual Assault Kit Backlog, sponsored by Representatives Willford and Froelich, and Senator Weissman. 

    “Everyone who has experienced sexual assault deserves justice and this new law moves us closer to ensuring that. I thank the bill sponsors for their work to address this urgent situation and help hold perpetrators accountable,” said Governor Polis. 

    Governor Polis also signed the following bills into law administratively: 

    • HB25-1031 – Law Enforcement Whistleblower Protection, sponsored by Representatives Bacon and Clifford, and Senators Roberts and B. Pelton
    • HB25-1198– Regional Planning Roundtable Commission, sponsored by Representatives Froelich and Brown, and Senator Winter
    • HB25-1313 – Modify Laws Within Purview of the Capital Development Committee, sponsored by Representatives Story and Lindsay, and Senators Mullica and Hinrichsen
    • HB25-1322 – Enforce Insurer Compliance Requests Insurance Policy, sponsored by Representatives Carter and Espenoza, and Senators Exum and Roberts
    • HB25-1329 – Foreign Third-Party Litigation Financing, sponsored by Representatives Mabrey and Soper, and Senators Frizell and Gonzales
    • SB25-083 – Limitations on Restrictive Employment Agreements, sponsored by Senators Daugherty and Frizell, and Representatives Brown and Garcia Sander
    • SB25-142 – Changes to Wildfire Resiliency Code Board, sponsored by Senators Baisley and Cutter, and Representative Velasco
    • SB25-145 – Online Cancellation of Automatic Renewal Contracts, sponsored by Senator Kipp, and Representative Lindsay and Zokaie
    • SB25-147 – Modify Board Management Public Employees’ Retirement Association, sponsored by Senators B. Pelton and Kolker, and Representatives Garcia Sander and Lukens
    • SB25-165 – Licensure of Electricians, sponsored by Senators B. Pelton and Daugherty, and Representatives Lindstedt and Woog
    • SB25-193 – Sunset Primary Care Payment Reform Collaborative, sponsored by Senators Ball and Mullica, and Representatives Garcia Sander and McCormick
    • SB25-214 – Healthy School Meals Program For All, sponsored by Senators Bridges and Amabile, and Representatives Sirota and Taggart
    • SB25-262 – Changes to Money in the Capital Construction Fund, sponsored by Senators Amabile and Kirkmeyer, and Representatives Bird and Taggart
    • SB25-268 – Changes to Money in the Marijuana Tax Cash Fund, sponsored by Senators Bridges and Kirkmeyer, and Representatives Bird and Sirota
    • SB25-271 – Repeal Obsolete Family & Medical Leave Study, sponsored by Senators Ball and Rich, and Representatives Espenoza and Luck
    • SB25-274 – Amend Delivery Requirements Wine Direct Shipping, sponsored by Senators Rodriguez and Lundeen, and Representatives Lindstedt and Hartsook
    • SB25-275 – Nonsubstantive Relocation of Definitions in Colorado Revised Statutes, sponsored by Senators Ball and Catlin, and Representatives Luck and Espenoza
    • SB25-287 – Capitol Building Advisory Committee Modifications, sponsored by Senator Michaelson Jenet and Representative Lindstedt
    • SB25-291 Division Criminal Justice Spending Authority Community Corrections, sponsored by Senators Amabile and Kirkmeyer, and Representatives Sirota and Taggart
    • SB25-293 – Transfers from License Plate Cash Fund, sponsored by Senators Bridges and Kirkmeyer, and Representatives Bird and Sirota
    • SB25-307 – Decarbonization Tax Credits Administration Cash Fund, sponsored by Senators Amabile and Bridges, and Representatives Sirota and Bird
    • SB25-311 – Inactive Cash Funds, sponsored by Senators Amabile and Kirkmeyer, and Representatives Bird and Taggart
    • SB25-314 – Recovery Audit Contractor Program, sponsored by Senators Kirkmeyer and Bridges, and Representatives Bird and Sirota
    • SB25-320 – Commercial Motor Vehicle Transportation, sponsored by Senators Bridges and Kirkmeyer, and Representatives Bird and Taggart
    • SB25-321 – Motor Vehicle Emissions Inspection Facilities, sponsored by Senators Kirkmeyer and Rodriguez, and Representatives Joseph and Gonzalez
    • SB25-317 – Transfer Cash Fund Investment Earnings to General Fund, sponsored by Senators Kirkmeyer and Bridges, and Representatives Bird and Taggart
    • HB25-1038 – Postsecondary Credit Transfer Website, sponsored by Representatives Hamrick and Johnson, and Senators Marchman and Baisley
    • HB25-1121 – Permanent Trailer Registration, sponsored by Representatives Suckla and Lukens, and Senators R. Pelton and Marchman
    • HB25-1189 – Motor Vehicle Registration Reform & Fees, sponsored by Representatives Mauro and Weinberg, and Senator Wallace
    • HB25-1014 – Increasing Efficiency Division of Water Resources, sponsored by Representatives Johnson and Lukens, and Senators Roberts and Simpson
    • HB25-1236 – Residential Tenant Screening, sponsored by Representatives Lindsay and Zokaie, and Senators Weissman and Jodeh
    • HB25-1249 – Tenant Security Deposit Protections, sponsored by Representatives Ricks and Bacon, and Senators Exum and Danielson
    • HB25-1289 – Metropolitan District Leases & Property Tax Exemptions, sponsored by Representatives Zokaie and Richardson, and Senators Weissman and Frizell
    • HB25-1333 – Legislative Human Resources Division, sponsored by Speaker McCluskie and Majority Leader Duran, and Senate President Coleman and Majority Leader Rodriguez
    • HB25-1335 – Tax Credit Availability, sponsored by Representatives Sirota and Taggart, and Senators Bridges and Kirkmeyer
    • SB25-018 – Online Search of Sales & Use Tax, sponsored by Senators Bridges and Kipp, and Representative Taggart
    • SB25-026 – Adjusting Certain Tax Expenditures, sponsored by Senator Mullica, and Representatives Marshall and Joseph
    • SB25-027 – Trauma-Informed School Safety Practices, sponsored by Senators Marchman and Representatives Joseph and Gonzalez
    • SB25-037 – Coal Transition Grants, sponsored by Senators Roberts and Kirkmeyer, and Representatives Taggart and Mauro
    • HB25-1149 – Comprehensive Black History & Culture Education in K-12, sponsored by Representative English, and Senator Exum
    • HB25-1117 – Vehicle Immobilization Company Regulation, sponsored by Representatives Joseph and Boesenecker, and Senators Gonzales and Weissman
    • SB25-297 – Implementation of Colorado Natural Medicine Initiative, sponsored by Senator Ball, and Representative Feret
    • HB25-1209 – Marijuana Regulation Streamline, sponsored by Representatives Lindstedt and Willford, and Senator Gonzales and Majority Leader Rodriguez
    • HB25-1245 – Heating Ventilation & Air Conditioning Improvement Projects in Schools, sponsored by Representatives Lieder and Hamrick, and Senators Kipp and Danielson
    • HB25-1130 – Labor Requirements for Government Construction Projects, sponsored by Representative Carter and Majority Leader Monica Duran, and Senators Danielson and Kolker
    • HB25-1284 – Regulating Apprentices in Licensed Trades, sponsored by Majority Leader Duran and Senator Sullivan
    • SB25-048 – Diabetes Prevention & Obesity Treatment Act, sponsored by Senators Michaelson Jenet and Mullica, and Representatives Brown and Mabrey
    • HB25-1208 – Local Governments Tip Offsets for Tipped Employees, sponsored by Representatives Woodrow and Valdez, and Senators Amabile and Daugherty
    • HB25-1330 – Exempting Quantum Computing Equipment Right to Repair, sponsored by Representatives Titone and Soper, and Senators Hinrichsen and Baisley
    • HB25-1274 – Healthy School Meals for All Program, sponsored by Representative Garcia, and Senators Michaelson Jenet and Wallace

    ###

    MIL OSI USA News

  • MIL-OSI: Kayne Anderson Energy Infrastructure Fund Provides Unaudited Balance Sheet Information and Announces Its Net Asset Value and Asset Coverage Ratios as of May 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, June 03, 2025 (GLOBE NEWSWIRE) — Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company”) (NYSE: KYN) today provided a summary unaudited statement of assets and liabilities and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the “1940 Act”) as of May 31, 2025.

    As of May 31, 2025, the Company’s net assets were $2.3 billion, and its net asset value per share was $13.79. As of May 31, 2025, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 740% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 530%.

    STATEMENT OF ASSETS AND LIABILITIES
    MAY 31, 2025   // (UNAUDITED)
     
          (in millions)  
    Investments   $ 3,184.4  
    Cash and cash equivalents     12.1  
    Receivable for securities sold     2.8  
    Accrued income     1.6  
    Other assets     1.0  
    Total assets     3,201.9  
         
    Notes     388.2  
    Unamortized notes issuance costs     (2.5 )
    Preferred stock     153.6  
    Unamortized preferred stock issuance costs     (1.2 )
    Total leverage     538.1  
         
    Payable for capital shares purchased     2.6  
    Other liabilities     19.8  
    Current tax liability, net     12.6  
    Deferred tax liability, net     297.1  
    Total liabilities     332.1  
         
    Net assets   $ 2,331.7  
     

    The Company had 169,126,038 common shares outstanding as of May 31, 2025.

    Long-term investments were comprised of Midstream Energy Companies (94%), Other (4%) and Utility Companies (2%).  

    The Company’s ten largest holdings by issuer at May 31, 2025 were:

        Amount
    (in millions)
      % Long Term
    Investments
    1. The Williams Companies, Inc. (Midstream Energy Company) $ 359.7   11.3%  
    2. Energy Transfer LP (Midstream Energy Company)   319.4   10.0%  
    3. Enterprise Products Partners L.P. (Midstream Energy Company)   313.6   9.8%  
    4. MPLX LP (Midstream Energy Company)   308.6   9.7%  
    5. Cheniere Energy, Inc. (Midstream Energy Company)   266.9   8.4%  
    6. Kinder Morgan, Inc. (Midstream Energy Company)   215.4   6.8%  
    7. ONEOK, Inc. (Midstream Energy Company)   186.4   5.9%  
    8. TC Energy Corporation (Midstream Energy Company)   167.7   5.3%  
    9. Targa Resources Corp. (Midstream Energy Company)   152.5   4.8%  
    10. Western Midstream Partners, LP (Midstream Energy Company)   120.6   3.8%  
             

    Portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation or solicitation for any person to buy, sell or hold any particular security. You can obtain a complete listing of holdings by viewing the Company’s most recent quarterly or annual report.

    Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The Company’s investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. See Glossary of Key Terms in the Company’s most recent quarterly or annual report for a description of these investment categories and the meaning of capitalized terms.

    This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer or sale is not permitted. Nothing contained in this press release is intended to recommend any investment policy or investment strategy or consider any investor’s specific objectives or circumstances. Before investing, please consult with your investment, tax, or legal adviser regarding your individual circumstances.

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions, or beliefs about future events. These and other statements not relating strictly to historical or current facts constitute forward-looking statements as defined under the U.S. federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. These risks include but are not limited to changes in economic and political conditions; regulatory and legal changes; energy industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the Company’s filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events could differ materially from these statements or our present expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company’s investment objectives will be attained.

    Contact investor relations at 877-657-3863 or cef@kayneanderson.com.

    The MIL Network

  • MIL-OSI USA: Cantwell Says Senate Should Dump House Proposal to Force Millions Off Health Coverage & Endanger Struggling Rural Hospitals

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    06.03.25
    Cantwell Says Senate Should Dump House Proposal to Force Millions Off Health Coverage & Endanger Struggling Rural Hospitals
    In WA, Trump’s “Big Beautiful Bill” would compromise health coverage for over 270k people
    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), senior member of the Senate Finance Committee and ranking member of the Senate Committee on Commerce, Science, and Transportation, joined Senate Majority Leader Chuck Schumer (D-NY) and U.S. Senator Amy Klobuchar (D-MN) for a press conference at the Capitol calling on their Republican colleagues to reject the devastating cuts to Medicaid included in the budget bill that barely passed the House of Representatives last month.
    “If this bill is enacted — reversing the gains of the Affordable Care Act — it will increase our uncompensated care cost. One estimate: $42 billion alone in 2026 of uncompensated care, and $278 billion in uncompensated care increases over a 10-year window,” Sen. Cantwell said.
    “The result in declining revenue would have adverse consequences for at-risk hospitals and rural communities. We have all heard from our rural hospitals warning us about this. How is it that our Republican Senate colleagues are not listening to those rural hospitals?”
    She continued: “Do our Republican colleagues not care about delivery of health care in our rural community and the spillover effect it has to their economies? This is not scare tactics. This is a bill, if enacted, [that] will not result in savings. It will result in an increase in the uninsured. It will result in financial stresses on our system, and it will increase costs on all of us. And yes, it will cost lives.”
    Video of today’s press conference is HERE; audio is HERE; and a transcript of Sen. Cantwell’s remarks is HERE.
    Last month, the U.S. House of Representatives passed a reconciliation bill containing over $700 billion in cuts and significant changes to Medicaid, the federal program that insures many low-income adults and children, pregnant people, seniors, and people with disabilities. 
    Medicaid, known as Apple Health in Washington state, covers over 1.9 million Washingtonians. On May 2, Sen. Cantwell released a snapshot report highlighting the impact that Medicaid cuts would have on Washington state’s highly-ranked long-term care system for seniors and people with disabilities. In February, she released a snapshot report that demonstrated how cuts would harm health care access in Washington state, and she followed up with a report in March that dove into impacts on the Puget Sound region.
    Highlights of those snapshot reports include:
    In Washington state, WA-04 (Central Washington) and WA-05 (Eastern Washington) have the highest proportions of adults and total population on Medicaid (Apple Health). In District 4, 70% of children are on Medicaid.
    In the Puget Sound, children in Seattle’s blue-collar strongholds would feel the deepest pain from Medicaid cuts. More than half of children in Burien, SeaTac, Kent, Federal Way, Auburn, Renton, and Rainier Valley depend on Medicaid.
    In an exclusive new survey of 68 WA nursing homes, 67 of 68 would cut services if Medicaid were cut by 5% or more, and 65% would consider closing.
    Over the past three months, Sen. Cantwell also took a tour around the state to hear from folks who would be directly impacted by cuts to Medicare. Doctors, patients, and health care providers in Seattle, Spokane, the Tri-Cities, and Wenatchee warned that such cuts would devastate Washington state’s health care system and limit access to lifesaving care.
    On May 21, Sen. Cantwell joined Washington state health care professionals for a virtual press conference to highlight statewide alarm and opposition to proposed Medicaid cuts. That same day, 23 Republican members of the Washington state legislature sent a letter to the entire Washington state federal Congressional delegation, urging the delegation to “protect Medicaid funding for Washington State.”
    A full timeline of Sen. Cantwell’s actions to defend Medicaid from cuts is HERE.

    MIL OSI USA News

  • MIL-OSI USA: Crapo Statement at Executive Session to Consider IRS Commissioner

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo

    Washington, D.C.–U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) delivered the following remarks at an executive session to consider the nomination of Billy Long to be Internal Revenue Service (IRS) Commissioner.
    As prepared for delivery:
    “We meet today to consider favorably reporting the nomination of Congressman Billy Long to be Commissioner of the Internal Revenue Service (IRS).
    “As we have done with other nominees, the meeting this morning will provide Members with the opportunity to offer remarks on Congressman Long’s nomination.  We will recess briefly following Member statements and then proceed to this morning’s nominations hearing.  We will notify Members of a time and location later today to conduct the vote on Congressman Long’s nomination. 
    “At his hearing, Congressman Long outlined his vision to transform the IRS through systems modernization, a renewed focus on efficiency and a much-needed change in IRS culture. 
    “If confirmed, I look forward to working with him to ensure the IRS focuses on helping American taxpayers to better understand and meet their tax responsibilities, and that it enforces the law with integrity and fairness to all.
    “I was encouraged to hear Congressman Long clearly commit that ‘the IRS will not, [and] should not, be politicized on my watch.’
    “I’d also like to thank Congressman Long for his time working through the Finance Committee’s rigorous nomination process, in addition to responding to a large amount of questions for the record.  At his hearing, and in his written responses, Congressman Long clearly affirmed that all of his tax consulting work was as an independent contractor for Capitol Edge Strategies.  He never performed work for White River or anyone else regarding Native American tribal tax credits.
    “With respect to the contributions to his Senate campaign, Congressman Long stated time and again that he followed Federal Election Commission (FEC) guidelines.
    “In sum, Congressman Long is uniquely suited to instill needed change at the IRS and I will vote in favor of his nomination.  I encourage my colleagues on both sides of the aisle to do the same.”

    MIL OSI USA News

  • MIL-OSI: Leading Independent Proxy Advisory Firms Glass Lewis and ISS Recommend that Shareholders Vote “FOR” the Proposed Merger Between PTMN and LRFC

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 03, 2025 (GLOBE NEWSWIRE) — Portman Ridge Finance Corporation (NASDAQ: PTMN) (“Portman Ridge” or “PTMN”) and Logan Ridge Finance Corporation (NASDAQ: LRFC) (“Logan Ridge” or “LRFC”) (together, the “Companies”) announced today that leading independent proxy advisory firms, Institutional Shareholder Services (“ISS”) and Glass, Lewis & Co. (“Glass Lewis”), have both recommended that LRFC stockholders vote “FOR” the proposed merger of LRFC with and into PTMN at the upcoming LRFC special meeting scheduled for June 6, 2025. In addition, ISS and Glass Lewis have both recommended that PTMN stockholders vote “FOR” the proposals related to the proposed merger at the upcoming PTMN special meeting scheduled for June 6, 2025.

    In its May 30, 2025 report, Glass Lewis noted, “We recognize the transaction would consolidate two entities that are managed by affiliated investment advisers, have overlapping portfolios of investments, and similar strategies and risks. The transaction aims at creating an entity with greater scale, a more diversified portfolio and anticipated greater market liquidity, among other benefits. Overall, we believe the entities have presented a reasonable strategic rationale for the proposed merger.” Similarly, in its report dated May 23, 2025, ISS commented, “The strategic rationale appears sound, as the combined company will have increased scale, structural simplification, and more diversification. On balance, in light of the compelling strategic rationale, support for the proposed share issuance is warranted.”

    Ted Goldthorpe, President and Chief Executive Officer of PTMN and LRFC and Head of the BC Partners Credit Platform, stated, “We’re encouraged by the support from both ISS and Glass Lewis, which reflects their alignment with the LRFC and PTMN Boards’ unanimous recommendations to their shareholders to vote in favor of the proposed merger. With PTMN standing as the surviving entity, we believe the combination will enhance PTMN’s scale, increase trading liquidity, further increase portfolio diversification, and will generate meaningful earnings accretion for shareholders, all which pave the way for our future growth initiatives and strengthen our position as a leader in executing strategic growth transactions amongst publicly traded business development companies.”

    With special meetings scheduled for June 6, 2025, both PTMN and LRFC urge their stockholders to attend the meeting and cast their votes by following the instructions outlined in the joint proxy statement. Stockholders of PTMN can also access the virtual meeting and vote by going to the following website: http://www.virtualshareholdermeeting.com/PTMN2025SM, or by calling 1-833-218-3911 and providing the control number which is listed in the proxy card received. Stockholders of LRFC can access the virtual meeting and vote by going to the following website: http://www.virtualshareholdermeeting.com/LRFC2025SM, or by calling 1-833-218-3962 and providing the control number which is listed in the proxy card received.

    Shareholders can access the joint proxy statement and prospectus by clicking HERE. Shareholders who have questions about the joint proxy statement or about voting their shares should contact the companies’ proxy solicitor, Broadridge, at 1-833-218-3911 for PTMN shareholders and 1-833-218-3962 for LRFC shareholders.

    About Portman Ridge Finance Corporation

    PTMN is a publicly traded, externally managed investment company that has elected to be regulated as a business development company (a “BDC”) under the 1940 Act. PTMN’s middle market investment business originates, structures, finances and manages a portfolio of term loans, mezzanine investments and selected equity securities in middle market companies. PTMN’s investment activities are managed by its investment adviser, Sierra Crest.

    PTMN’s filings with the Securities and Exchange Commission (the “SEC”), earnings releases, press releases and other financial, operational and governance information are available on Portman Ridge’s website at www.portmanridge.com.

    About Logan Ridge Finance Corporation

    LRFC is a BDC that invests primarily in first lien loans and, to a lesser extent, second lien loans and equity securities issued by lower middle-market companies. LRFC invests in performing, well-established middle-market businesses that operate across a wide range of industries. It employs fundamental credit analysis, targeting investments in businesses with relatively low levels of cyclicality and operating risk. For more information, visit www.loganridgefinance.com.

    Cautionary Statement Regarding Forward-Looking Statements

    Some of the statements in this communication constitute forward-looking statements because they relate to future events, future performance or financial condition. The forward-looking statements may include statements as to future operating results of PTMN and LRFC, and distribution projections; business prospects of PTMN and LRFC, and the prospects of their portfolio companies; and the impact of the investments that PTMN and LRFC expect to make. In addition, words such as “anticipate,” “believe,” “expect,” “seek,” “plan,” “should,” “estimate,” “project” and “intend” indicate forward-looking statements, although not all forward-looking statements include these words. The forward-looking statements contained in this communication involve risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with (i) the ability of the parties to consummate the merger on the expected timeline, or at all; (ii) the expected synergies and savings associated with the merger; (iii) the ability to realize the anticipated benefits of the merger, including the expected elimination of certain expenses and costs due to the merger; (iv) the percentage of PTMN shareholders and LRFC shareholders voting in favor of the applicable Proposal (as defined below) submitted for their approval; (v) the possibility that competing offers or acquisition proposals will be made; (vi) the possibility that any or all of the various conditions to the consummation of the merger may not be satisfied or waived; (vii) risks related to diverting management’s attention from ongoing business operations; (viii) the combined company’s plans, expectations, objectives and intentions, as a result of the merger; (ix) any potential termination of the merger agreement; (x) the future operating results and net investment income projections of PTMN, LRFC or, following the closing of the merger, the combined company; (xi) the ability of Sierra Crest to implement its future plans with respect to the combined company; (xii) the ability of Sierra Crest and its affiliates to attract and retain highly talented professionals; (xiii) the business prospects of PTMN, LRFC or, following the closing of the merger, the combined company, and the prospects of their portfolio companies; (xiv) the impact of the investments that PTMN, LRFC or, following the closing of the merger, the combined company expect to make; (xv) the ability of the portfolio companies of PTMN, LRFC or, following the closing of the merger, the combined company to achieve their objectives; (xvi) the expected financings and investments and additional leverage that PTMN, LRFC or, following the closing of the merger, the combined company may seek to incur in the future; (xvii) the adequacy of the cash resources and working capital of PTMN, LRFC or, following the closing of the merger, the combined company; (xviii) the timing of cash flows, if any, from the operations of the portfolio companies of PTMN, LRFC or, following the closing of the merger, the combined company; (xix) the risk that stockholder litigation in connection with the merger may result in significant costs of defense and liability; and (xx) future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities). PTMN and LRFC have based the forward-looking statements included in this document on information available to them on the date hereof, and they assume no obligation to update any such forward-looking statements. Although PTMN and LRFC undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that they may make directly to you or through reports that PTMN and LRFC in the future may file with the SEC, including the Registration Statement and Joint Proxy Statement (in each case, as defined below), annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

    No Offer or Solicitation

    This communication is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication is not, and under no circumstances is it to be construed as, an offer to sell or a solicitation of an offer to purchase any securities in PTMN, LRFC or in any fund or other investment vehicle managed by BC Partners or any of its affiliates.

    Additional Information and Where to Find It

    This communication relates to the proposed merger of PTMN and LRFC and certain related matters (the “Proposals”). In connection with the Proposals, PTMN has filed a registration statement (Registration No. 333-285230) with the SEC (the “Registration Statement”) that contains a combined joint proxy statement for PTMN and LRFC and a prospectus of PTMN (the “Joint Proxy Statement”) and has mailed the Joint Proxy Statement to its and LRFC’s respective shareholders. The Registration Statement and Joint Proxy Statement will contain important information about PTMN, LRFC and the Proposals. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. SHAREHOLDERS OF PTMN AND LRFC ARE URGED TO READ THE REGISTRATION STATEMENT, JOINT PROXY STATEMENT AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT PTMN, LRFC AND THE PROPOSALS. Investors and security holders will be able to obtain the documents filed with the SEC free of charge at the SEC’s website, http://www.sec.gov or, for documents filed by PTMN, from PTMN’s website at https://www.portmanridge.com, and, for documents filed by LRFC, from LRFC’s website at https://www.loganridgefinance.com.

    Participants in the Solicitation

    PTMN, its directors, certain of its executive officers and certain employees and officers of Sierra Crest and its affiliates may be deemed to be participants in the solicitation of proxies in connection with the Proposals. Information about the directors and executive officers of PTMN is set forth in its proxy statement for its 2025 Annual Meeting of Stockholders, which was filed with the SEC on April 29, 2025. LRFC, its directors, certain of its executive officers and certain employees and officers of Mount Logan and its affiliates may be deemed to be participants in the solicitation of proxies in connection with the Proposals. Information about the directors and executive officers of LRFC is set forth in the Annual Report on Form 10-K/A, which was filed with the SEC on April 29, 2025. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the PTMN and LRFC shareholders in connection with the Proposals will be contained in the Registration Statement, including the Joint Proxy Statement included therein, and other relevant materials when such documents become available. These documents may be obtained free of charge from the sources indicated above.

    Contacts:
    Portman Ridge Finance Corporation
    650 Madison Avenue, 3rd floor
    New York, NY 10022

    Logan Ridge Finance Corporation
    650 Madison Avenue, 3rd floor
    New York, NY 10022

    Brandon Satoren
    Chief Financial Officer (PTMN and LRFC)
    Brandon.Satoren@bcpartners.com
    (212) 891-2880

    The Equity Group Inc.
    Lena Cati
    lcati@equityny.com
    (212) 836-9611

    Val Ferraro
    vferraro@equityny.com
    (212) 836-9633

    The MIL Network

  • MIL-OSI Global: Chagos islands: how Mauritius can turn a diplomatic triumph into real economic growth

    Source: The Conversation – Global Perspectives – By Dev K (Roshan) Boojihawon, Associate professor of Strategy and International Business, University of Birmingham

    The decades-long Chagos islands dispute has finally entered a new chapter. The UK officially agreed to return the sovereignty of the archipelago to Mauritius.

    The Indian Ocean islands are strategically situated near key shipping lanes and regional power hubs.

    Mauritius was granted independence from British colonial rule in 1968. But not the Chagos islands, which had been part of Mauritius but became a new colonial territory. The residents of the largest island in the archipelago, Diego Garcia, were forced off the land. This was used as a base to support US military operations.




    Read more:
    Mauritius’ next growth phase: a new plan is needed as the tax haven era fades


    Now Mauritius has regained control over the islands while leasing Diego Garcia to the UK for a 99-year period for US$136 million a year. This gives the UK (and its ally the US) access to a vital maritime corridor for global trade and power projection.

    But now that the deal has been signed, there’s a more pressing question. Can Mauritius use it as the foundation for justice and economic progress?

    As scholars of strategic economic development we often focus on Africa and Mauritius in particular. We believe the agreement marks an important geopolitical moment. It rights a colonial wrong, honours international justice and cements Mauritius’s global standing.

    It also presents an opportunity to fund inclusive development and sustainability initiatives for Mauritius. It could boost investments in education, health and infrastructure. It could also support the resettlement of displaced Chagossians, and advance marine conservation, renewable energy and climate resilience programmes in the archipelago.

    Aerial view of Diego Garcia and the Chagos archipelago.
    NASA/Wikimedia Commons

    The real challenge facing the Mauritian government is how to turn a diplomatic triumph into tangible national progress. We argue that what’s needed is a forward looking and inclusive strategy.

    The development challenge

    Reparations can offer short-term financial relief. But without visionary planning, there’s a risk of these funds being absorbed into recurrent government spending. Or used for symbolic programmes with limited structural and socio-economic impact.

    The real value lies in what Mauritius does next. Investment in strategic sectors such as the blue economy, renewable energy, digital infrastructure and sustainable tourism is the key.

    Investment should strengthen partnerships with regional neighbours, international donors, and strategic allies like the US, China and India. Mauritius must position itself as a forward-looking state with global relevance.




    Read more:
    How the US and UK worked together to recolonise the Chagos Islands and evict Chagossians


    The reparations should be treated as seed funding to invest in its own future. This means using the funds to drive bold, long-term transformation. The country needs to build a more resilient, innovative and globally competitive economy.

    Mauritius is heavily reliant on offshore services and short-term fiscal gains. It is vulnerable to slow diversification, rising youth unemployment, climate-related risks, lagging digital and technological progress, and growing global scrutiny of its financial sector.

    To remain competitive in the current volatile global context, the country must develop more broadly.

    3 steps to take

    1. Investment

    Mauritius has historically relied on external financial inflows like tourism revenue, offshore finance and foreign aid. By channelling funds into capacity-building, skills development and innovation ecosystems, the country can cultivate a self-sustaining economy. This would position it better to seize opportunities in the green economy, digital transformation and knowledge-intensive industries.

    More specifically, it needs to:

    • secure investment in green energy, AI-digital infrastructure and high-tech manufacturing

    • offer tax incentives and streamlined regulatory processes to attract foreign direct investment in these sectors

    • establish public-private partnerships to develop innovation hubs and research centres focused on emerging technologies

    • launch workforce development programmes to upskill the labour force.

    2. Economic diplomacy, alliances and regional leverage

    The government should forge stronger partnerships with the UK and the US. Key areas include defence, cybersecurity, climate and sustainability innovations and regional logistics infrastructure.

    It needs strong ties as power blocs shift and competition over strategic resources and trade routes grows.

    Joint military exercises and intelligence sharing could improve forces’ ability to help each other. Investing in advanced cyber defence capabilities, for instance, can help counter emerging digital threats, such as data breaches affecting financial services and e-governance systems.

    These steps would bolster national security and reinforce Mauritius’ position as a reliable partner.

    The resolution of the Chagos dispute provides an opportunity for Mauritius to use its geopolitical position. It could expand trade, diplomatic influence and strategic partnerships across Africa, Asia and beyond.

    Being located between Africa, the Middle East, South Asia and Southeast Asia places it along major maritime trade routes.

    Mauritius enjoys political stability, democratic governance and strong legal framework. It is well placed to help resolve regional disputes over maritime boundary conflicts, fishing rights, and freedom of navigation. These involve countries like India, Sri Lanka and Madagascar, and even China and the US.

    It can also lead in developing shared logistics and resupply hubs to support regional trade, disaster response and maritime security operations.

    3. Chagossian justice

    Mauritius must make the Chagossian community part of its next national success story. Including them in economic plans is a legal, moral and strategic necessity.

    Steps should include:

    • incorporating Chagos representatives in economic discussions and decision-making processes

    • establishing programmes for Chagossian cultural preservation and economic development

    • giving Chagossians a voice in shaping the future of their ancestral lands.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. Chagos islands: how Mauritius can turn a diplomatic triumph into real economic growth – https://theconversation.com/chagos-islands-how-mauritius-can-turn-a-diplomatic-triumph-into-real-economic-growth-257774

    MIL OSI – Global Reports

  • MIL-OSI United Kingdom: Suspected people-smuggling gang arrested in nationwide crackdown

    Source: United Kingdom – Executive Government & Departments

    News story

    Suspected people-smuggling gang arrested in nationwide crackdown

    Six people have been arrested on suspicion of facilitating illegal entry of hundreds of migrants in dawn strikes by Immigration Enforcement across the UK

    A suspected organised crime boss and his associates have been arrested for allegedly facilitating hundreds of Botswana nationals into the UK illegally, as part of a surge in law enforcement activity to take down people-smuggling gangs.

    In the early hours of Tuesday 3 June, five men and one woman were arrested in strikes across the country in Cheltenham, Manchester, Nottingham, Sheffield and Bradford. The lead suspect, a 37-year-old Botswana national, was arrested in Cheltenham on suspicion of assisting and planning the illegal entry of other migrants from Botswana into the UK.

    The suspected criminal gang is believed to have facilitated the entry of more than 200 Botswana nationals into the UK illegally over a two-year period, leading them into a life of fraud and exploitation. Once in the country, it is believed they assisted in submitting false asylum claims using fake documents in order to fraudulently legalise the migrants stay in the country. They are also believed to have assisted the migrants with illegal employment in care homes, working with the most vulnerable without adequate training or medical expertise.

    Officers acted on intelligence that suggested the lead people smuggler was exploiting the individuals he lured here under false pretences, forcing them to do unpaid work.

    Organised criminal gangs often use cruel tactics to control their beneficiaries, with victims often subject to debt bondage at the hands of the gangs who trap them in unsafe situations in order to fill their pockets.

    The arrests come as part of the latest initiative under this government’s Plan for Change to bear down on the criminal gangs profiting at the expense of vulnerable individuals and restore order to the asylum system. Since the election almost 30,000 people with no right to be here have been returned – a 12% increase compared to the same period 12 months ago. Illegal working visits and arrests are also up by more than 40%

    This government’s Border Security, Asylum and Immigration Bill will go further than ever before to protect the UK’s borders and strengthen the wider immigration and asylum system, including protecting it against abuse from criminal gangs. New counter terror-style powers will be introduced to smash the smuggling gangs before they have a chance to act.

    Security Minister, Dan Jarvis said:

    I want to commend the dedication and professionalism of our criminal investigators and Immigration Enforcement officers for these significant arrests. Their tireless efforts have disrupted criminal networks that profit from exploiting vulnerable individuals and undermining our immigration system.

    This operation demonstrates that we will use the full force of the law against those who facilitate illegal entry into the UK for exploitation. Our enforcement teams work day and night to protect our borders and communities from harm, and this successful operation is testament to their commitment.

    The government remains resolute in our approach to tackle illegal migration and the criminal enterprises that enable it, and through our Plan for Change will continue to restore order to the asylum system that collapsed in recent years.

    Immigration Enforcement Criminal and Financial Investigations lead, Phillip Parr said:

    This is one of our highest priority investigations due to the scale of the threat, the number of people believed to be involved, the immense harm these victims are potentially at risk of, and the amount of financial gain the suspects stand to make.

    I’m immensely proud of my team’s coordinated and targeted approach in this operation. We’ve not only disrupted this criminal network but also safeguarded potentially hundreds of individuals from further exploitation and harm. This operation demonstrates the power of partnership working in tackling complex organised crime.

    There is no place for those who profit from human misery, and we will continue to use all available powers to pursue and prosecute those involved in these despicable crimes.

    This government is tightening UK visa controls and building a more sustainable workforce, reducing reliance on overseas workers, as set out in the immigration white paper in May. The strategy contains new financial measures, penalties or sanctions, including for sponsors of migrant workers or students where there is evidence of abuse. New measures already in effect require care providers in England to prioritise recruiting international care workers who are already in the UK and seeking new employment.

    Updates to this page

    Published 3 June 2025

    MIL OSI United Kingdom

  • MIL-OSI: Western New England Bancorp, Inc. Announces Completion of 2024 Repurchase Plan

    Source: GlobeNewswire (MIL-OSI)

    WESTFIELD, Mass., June 03, 2025 (GLOBE NEWSWIRE) — Western New England Bancorp, Inc. (the “Company” or “WNEB”) (NasdaqGS: WNEB), the holding company for Westfield Bank (the “Bank”), announced that on May 30, 2025, the Company completed all repurchases under its existing stock repurchase plan (the “2024 Repurchase Plan”) at an average price per share of $8.79. The 2024 Repurchase Plan authorized the Company to repurchase a total of 1.0 million shares of the Company’s common stock, or approximately 4.6% of the Company’s then-outstanding shares of common stock. The Board of Directors authorized the 2024 Repurchase Plan on May 21, 2024.

    On April 22, 2025, the Board of Directors of the Company authorized a new stock repurchase plan, pursuant to which the Company may repurchase up to 1.0 million shares, or approximately 4.8% of the Company’s outstanding shares of common stock, upon the completion of the 2024 Repurchase Plan.

    James C. Hagan, President and Chief Executive Officer, commented, “We are pleased to announce the completion of our 2024 Repurchase Plan. We believe that share repurchases are a prudent use of the Company’s capital and demonstrate our commitment to effectively manage the Company’s capital levels, while increasing total shareholder returns through stock repurchases as well as cash dividends.”

    The Company may repurchase shares from time to time in open market transactions or through privately negotiated transactions at the Company’s discretion or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. The amount, timing and nature of any share repurchases will be based on a variety of factors, including the trading price of the Company’s common stock, applicable securities laws restrictions, regulatory limitations and market and economic factors. The repurchase program may be modified, suspended or discontinued at any time, at the Company’s discretion.

    About Western New England Bancorp, Inc.

    Western New England Bancorp, Inc. is a Massachusetts-chartered stock holding company and the parent company of Westfield Bank, CSB Colts, Inc., Elm Street Securities Corporation, WFD Securities, Inc. and WB Real Estate Holdings, LLC. Western New England Bancorp, Inc. and its subsidiaries are headquartered in Westfield, Massachusetts and operate 25 banking offices throughout western Massachusetts and northern Connecticut. To learn more, visit our website at www.westfieldbank.com.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the Company’s financial condition, liquidity, results of operations, future performance, and business. Forward-looking statements may be identified by the use of such words as “believe,” “expect,” “anticipate,” “should,” “planned,” “estimated,” and “potential.” Examples of forward-looking statements include, but are not limited to, estimates with respect to our financial condition, results of operations and business that are subject to various factors which could cause actual results to differ materially from these estimates. 

    Although we believe that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from the results discussed in these forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed under the caption “Risk Factors” in Western New England Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2024 and in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. We do not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except to the extent required by law.

    For further information contact:
    James C. Hagan, President and Chief Executive Officer
    Guida R. Sajdak, Executive Vice President and Chief Financial Officer
    Meghan Hibner, First Vice President and Investor Relations Officer
    413-568-1911

    The MIL Network

  • MIL-OSI: Innventure to Participate in Upcoming Investor Conferences

    Source: GlobeNewswire (MIL-OSI)

    ORLANDO, Fla., June 03, 2025 (GLOBE NEWSWIRE) — Innventure, Inc. (NASDAQ: INV) (“Innventure”), a technology commercialization platform, today announced its participation at the following investor conferences:

    • June 12, 2025 – Lucas Harper, Chief Investment Officer, and Roland Austrup, Chief Growth Officer, will present at Sidoti’s Virtual Small Cap Conference. The presentation will begin at approximately 3:15 p.m. ET and will be webcast live, which can be accessed via Innventure’s Investor Relations website at https://ir.innventure.com/. Management will also be available for 1×1 and small group investor meetings.
    • June 25, 2025 – Bill Haskell, Chief Executive Officer, will attend Northland’s Virtual Growth Conference and be available for 1×1 and small group investor meetings.
    • June 25 and June 26, 2025 – Roland Austrup, Chief Growth Officer, will attend Roth’s 15th Annual London Conference and be available for 1×1 and small group investor meetings.

    About Innventure

    Innventure founds, funds, and operates companies with a focus on transformative, sustainable technology solutions acquired or licensed from multinational corporations. As owner-operators, Innventure takes what it believes to be breakthrough technologies from early evaluation to scaled commercialization utilizing an approach designed to help mitigate risk as it builds disruptive companies it believes have the potential to achieve a target enterprise value of at least $1 billion. Innventure defines ‘‘disruptive’’ as innovations that have the ability to significantly change the way businesses, industries, markets and/or consumers operate.

    Media Contact: Laurie Steinberg, Solebury Strategic Communications
    press@innventure.com

    Investor Relations Contact: Sloan Bohlen, Solebury Strategic Communications
    investorrelations@innventure.com

    The MIL Network

  • MIL-OSI NGOs: Historic Forest Congress ends with pressing demands from Indigenous Peoples and Local Communities

    Source: Greenpeace Statement –

    Brazzaville, Republic of Congo – In a show of unity, Indigenous Peoples and Local Communities (IPLCs) from the world’s largest tropical forest basins, the Amazon, Congo, Borneo-Mekong-Papua and Mesoamerica, have concluded their first-ever global congress with an urgent call for protection, recognition and respect for the forests as well as the provision of direct access funds for the communities.

    These four regions, often described as the lungs of the planet, are home to over two-thirds of the Earth’s remaining tropical forests and serve as critical carbon sinks in the fight against climate change. They also  host immense biodiversity and provide life-sustaining ecosystems for hundreds of millions of people. At the heart of these forests are Indigenous Peoples and local communities who are the custodians of these forests having protected and lived in harmony with these ecosystems for generations.

    Over five days in Brazzaville, the forest custodians from across South America, Central Africa, Southeast Asia, and Mesoamerica came together to share experience and knowledge, place the spotlight on their struggles, and unite their voices. The congress culminated in a joint declaration demanding urgent global actions  to protect their land  rights and traditional knowledge, and their informed consent in decision-making, and  ensure direct access to finance.  .

    Greenpeace proudly stood in solidarity with these communities, calling for concrete measures  to recognize and support  Indigenous people’s leadership in forest protection, biodiversity restoration and the fight against climate change

    “What we witnessed in Brazzaville was more than a gathering, it was a unified awakening,” said Dr. Lamfu Yengong, Forest Campaign Lead at Greenpeace Africa. “This congress laid the ground for an emerging global alliance rooted in ancestral wisdom, justice, and the urgency of climate action. The road to COP30 must now consider those voices that have long been ignored”.

    This Congress was a historic moment for Indigenous Peoples and local communities from the  major forest basins to unite and shape a common vision  for transformative change in national and international policies on forest protection, land rights, and direct access to  finance. We echo their call: Respect, recognize, and protect their rights—not only as a call for justice, but as a condition for the planet’s survival.” said Bonaventure Bondo, Forest Campaigner at Greenpeace Africa. 

    “Our knowledge and stewardship are central to the health of the planet,” added Valentine Engobo, an Indigenous leader from Lokolama in the Congo Basin. “We look forward to seeing these commitments translate into tangible actions, especially at COP30, where our voices must  be heard and our rights recognized.”

    From the Amazon to the Papua, Indigenous leaders echoed a resounding message: protecting forests means respecting the people who protect them.

    “Indigenous peoples are the true custodians of the Amazon rainforest,” said Romulo Batista, Senior Campaigner at Greenpeace Brazil. “We call on world leaders to honour their role in combating climate change and protecting our territories.”

    “This first congress leaves a great legacy, which is the dialogue and articulation at a global level of Indigenous Peoples and Local Communities,” said Mario Nicacio, Member of the supervisory board of the Podaali Indigenous Fund. “While discussing common problems, we discussed solutions, access to natural resources, our territories and access to direct funding for our funds and organisations.”

    “The Borneo-Mekong and Papua’s forests are vital to climate stability,” said Amos Sumbung, Forest Campaigner at Greenpeace Southeast Asia. “But our communities can’t do it alone, We need genuine international backing.”

    “This is just the beginning,” said Troyanus Kalami, an Indigenous leader from Moi, in the Papua region. “Our territories must be respected, and our wisdom must help shape the future of global climate solutions.”

    The Congress culminated in  a historic Declaration, a collective document outlining the priorities, demands, and commitments of these communities in response to the escalating climate and biodiversity crises. The Declaration urgently calls for the legal recognition and protection of Indigenous territories, direct financing for local communities, and full participation in environmental and climate governance. Here are the key outcomes of the final Declaration:

    • Territorial Recognition and Protection – A global call for governments to legally recognise and uphold Indigenous land rights, including for peoples in voluntary isolation;
    • End to Criminalisation and Violence – A strong appeal for an international convention to protect environmental human rights defenders and to stop persecution of Indigenous leaders;
    • Full and Effective Participation – A demand for the inclusion of women, youth, and community representatives in climate and environmental decision-making processes ;
    • Direct and Transparent Financing – A request for at least 40% of climate and biodiversity finance to go directly to Indigenous and local community organisations, without intermediaries. 
    • Moratorium on Destructive Activities – A demand to halt fossil fuel extraction, large-scale agribusiness, and mining projects on Indigenous lands.;
    • Call to Global Action Towards COP30 A formal request for the President of the Republic of Congo to host a high-level dialogue among forest basin countries during COP30.

    Greenpeace Africa affirms that this congress marks a watershed moment, serving as a turning point in the struggles of Indigenous Peoples and Local Communities  not to be any longer sidelined in decision-making but recognised as custodians and leaders of global forest protection and climate action.

    END

    Contacts

    Raphael Mavambu, Media and Communications, [email protected], Greenpeace Africa

    MIL OSI NGO

  • MIL-OSI USA: In first-of-its-kind initiative, California deploys mobile air monitoring to protect underserved communities from pollution

    Source: US State of California Governor

    Jun 3, 2025

    What you need to know: The state will use specially equipped vehicles to collect block-by-block air quality data in 64 communities heavily burdened by pollution. The results will help create local solutions to improve air quality and public health. 

    SACRAMENTO – While the Trump administration rolls back pollution protections across the country, Governor Gavin Newsom today announced the launch of California’s Statewide Mobile Monitoring Initiative (SMMI), a first-of-its-kind program delivering hyper-local air pollution data to guide air quality improvement efforts in California.

    “While the federal government threatens to take us back to the days of smoggy skies and clogged lungs, California continues to lead the way. We’re deploying first-of-their-kind vehicles to monitor pollution levels at a block-by-block level, delivering critical air quality information to communities across the state.”

    Governor Gavin Newsom

    Starting in June, the pilot project will deploy mobile air monitoring equipment to 64 communities throughout the state, with a particular focus on communities that have long faced environmental disparities. The project spearheaded by the California Air Resources Board (CARB) will use sensor-equipped vehicles from Aclima and mobile laboratories operated by researchers from the University of California, Berkeley, University of California, Riverside, and Aerodyne to collect and analyze data on local pollution levels.

    The initiative is part of California Climate Investments, a statewide effort that puts billions of Cap-and-Invest dollars to work reducing greenhouse gas emissions, strengthening the economy, and improving public health and the environment — particularly in disadvantaged communities.

    More than 60% of the mobile monitoring will serve priority populations, including low-income communities and communities facing disproportionate pollution burdens. The 64 communities were consistently nominated for focused action under the Community Air Protection Program, underscoring the state’s commitment to protecting the health of Californians in areas most burdened by air pollution.

    “By meeting communities where they are and listening to their concerns, we’re building an air quality monitoring system that integrates the lived experiences of the people most impacted by air pollution,” said CARB Executive Director Dr. Steven Cliff. “The Statewide Mobile Monitoring Initiative represents an unprecedented opportunity to gather the detailed information we need to better protect public health in neighborhoods that have historically borne the brunt of environmental injustice.”

    Monitoring will take place in the 64 communities over the next year. The project is expected to end in June 2026, when the collected data will become publicly available.  Final results will be shared with the 64 communities, the general public, and the Board. CARB, local air districts, stakeholders, and community stakeholders will use the data to help guide efforts to address existing and emerging pollution concerns. The data is also expected to inform future regulatory programs, academic research, and applications for grants such as the Community Air Grants Program.

    The program is guided by a robust community engagement framework. More than 40 community-based organizations across California have partnered with CARB to identify local air quality concerns and ensure community voices shape monitoring efforts from the ground up. 

    California’s clean air leadership

    Over the last 50 years, the state’s clean air efforts have saved $250 billion in health costs through reduced illness and reduced diesel-related cancer risk by nearly 80 percent.

    The state continues to set clean energy records. Last year, California ran on 100% clean electricity for the equivalent of 51 days – with the grid running on 100% clean energy for some period two out of every three days. Since the beginning of the Newsom Administration, battery storage is up to over 15,000 megawatts – a 1,900%+ increase.

    Press releases, Recent news

    Recent news

    News To the People of California,Recent years have seen a troubling spike in reported hate crimes and manifestations of bigotry. In response, California launched a robust anti-hate agenda that includes significant investments and actions to support and protect all the…

    News SACRAMENTO – Governor Gavin Newsom and Acting Governor Eleni Kounalakis issued the following statement regarding the death of Baldwin Park Police Department Officer Samuel Riveros:“We mourn the tragic loss of one of California’s brave law enforcement officers,…

    News Sacramento, California – Governor Gavin Newsom today issued a proclamation declaring May 2025, as “Mental Health Awareness Month.”The text of the proclamation and a copy can be found below: PROCLAMATIONDuring Mental Health Awareness Month, we recognize the…

    MIL OSI USA News

  • MIL-OSI: Orange County Bancorp, Inc. Launches Public Offering of Common Stock

    Source: GlobeNewswire (MIL-OSI)

    MIDDLETOWN, N.Y., June 03, 2025 (GLOBE NEWSWIRE) — Orange County Bancorp, Inc. (the “Company” – Nasdaq: OBT), parent company of Orange Bank & Trust Company, (the “Bank”) and Hudson Valley Investment Advisors, Inc. (“HVIA”), today announced it launched an underwritten public offering of shares of its common stock. The Company also expects to grant the underwriters a 30-day option to purchase additional shares of its common stock.

    The Company plans to use the net proceeds from the offering for general corporate purposes, which may include investments in the Bank supporting continued growth, augmenting regulatory capital and liquidity and providing for potential strategic acquisitions. The Company has no current plans, arrangements or understandings relating to any specific acquisition or similar transaction.

    Piper Sandler & Co. and Stephens Inc. are serving as joint book-running managers.

    The Company has filed with the Securities and Exchange Commission (the “SEC”) a shelf registration statement (including a prospectus) on Form S-3 (File No. 333-280793) and a preliminary prospectus supplement for the offering to which this press release relates. Before you invest, you should read the preliminary prospectus supplement and the accompanying prospectus, including the information incorporated by reference therein, and the other documents we have filed and will file with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Electronic copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained from Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by phone at 1-800-747-3924, or by email at prospectus@psc.com, or Stephens Inc., 111 Center Street, Little Rock, AR 72201, or by phone at 1-800-643-9691.

    This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.   The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement or the shelf registration statement or prospectus relating thereto.

    About Orange County Bancorp, Inc.

    Orange County Bancorp, Inc. is the parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors, Inc. Orange Bank & Trust Company is an independent bank that began with the vision of 14 founders over 125 years ago. It has grown through innovation and an unwavering commitment to its community and business clientele to approximately $2.6 billion in total assets. Hudson Valley Investment Advisors, Inc. is a Registered Investment Advisor in Goshen, NY. It was founded in 1996 and acquired by the Company in 2012.

    Forward-Looking Statements

    The information disclosed in this press release includes various forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words “anticipates,” “projects,” “intends,” “estimates,” “expects,” “believes,” “plans,” “may,” “will,” “should,” “could,” and other similar expressions are intended to identify such forward-looking statements. The Company cautions that these forward-looking statements are necessarily speculative and speak only as of the date made, and are subject to numerous assumptions, risks and uncertainties, all of which may change over time. Actual results could differ materially from such forward-looking statements. Accordingly, you should not place undue reliance on forward-looking statements. In addition to the specific risk factors disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, the following factors, among others, could cause actual results to differ materially and adversely from such forward-looking statements: those related to the real estate and economic environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, inflation, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, tariffs, increased levels of loan delinquencies, problem assets and foreclosures, credit risk management, asset-liability management, cybersecurity risks, geopolitical conflicts, public health issues, the financial and securities markets and the availability of and costs associated with sources of liquidity. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

    For further information:
    Michael Lesler
    EVP & Chief Financial Officer
    mlesler@orangebanktrust.com
    Phone: (845) 341-5111

    The MIL Network

  • MIL-OSI: PrairieSky Royalty Declares Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, June 03, 2025 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky”) (TSX:PSK) announced today that its Board of Directors has declared a quarterly dividend of CDN $0.26 per common share, payable in cash on July 15, 2025 to shareholders of record on June 30, 2025. This dividend is designated as an “eligible dividend” for Canadian income tax purposes.

    About PrairieSky Royalty Ltd.
    PrairieSky is a royalty-focused company, generating royalty revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating free cash flow and that represent the largest and most concentrated independently-owned fee simple mineral title position in Canada. PrairieSky common shares trade on the Toronto Stock Exchange under the symbol PSK.

    FOR FURTHER INFORMATION PLEASE CONTACT:

    PrairieSky Royalty Ltd.

    Investor Relations
    (587) 293-4000

    www.prairiesky.com

    PDF available: http://ml.globenewswire.com/Resource/Download/ed36038b-776e-41dd-a995-8ee06469cabf

    The MIL Network

  • MIL-OSI: Gevo Promotes Lindsay Fitzgerald to Chief Advocacy and Communications Officer

    Source: GlobeNewswire (MIL-OSI)

    ENGLEWOOD, Colo., June 03, 2025 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) announced today the promotion of Lindsay Fitzgerald to Chief Advocacy and Communications Officer, effective immediately.

    In this expanded leadership role, Ms. Fitzgerald will focus on advancing Gevo’s mission to strengthen American energy and food security by unlocking the full value of U.S. agriculture and rural communities. She continues to drive policy advocacy and public communications that support cost-effective, American-made hydrocarbon fuels and chemicals, while building free-market solutions for carbon abatement and economic growth. Her efforts help bolster U.S. agriculture as the most sustainable in the world, while opening new markets for farmers, innovators, and domestic manufacturing.

    “Lindsay’s leadership is about moving business forward,” said Dr. Patrick R. Gruber, Chief Executive Officer of Gevo. “She understands that real-world solutions require practical policies and clear messaging. Her work supports energy independence, job creation, and market-based carbon strategies that align with American interests.”

    Since joining Gevo in 2021, Ms. Fitzgerald has held key leadership roles, including Executive Vice President of Corporate Affairs and Vice President of Government Relations. Her nearly 20 years of experience span the U.S. Environmental Protection Agency, the Clean Fuels Alliance America, and Renewable Energy Group, where she built and led successful policy strategies to support clean fuels, rural jobs, and domestic energy production. Ms. Fitzgerald also serves as Chair of the Low Carbon Fuels Coalition, where she advocates for market-driven fuel policies that enable private-sector innovation across state and federal jurisdictions.

    With this promotion, Gevo reinforces its commitment to delivering real value through energy innovation, carbon abatement that works for business, and American-grown resources.

    About Gevo

    Gevo is a next-generation diversified energy company committed to fueling America’s future with cost-effective, drop-in fuels that contribute to energy security, abate carbon, and strengthen rural communities to drive economic growth. Gevo’s innovative technology can be used to make a variety of renewable products, including synthetic aviation fuel (“SAF”), motor fuels, chemicals, and other materials that provide U.S.-made solutions. By investing in the backbone of rural America, Gevo’s business model includes developing, financing, and operating production facilities that create jobs and revitalize communities. Gevo owns and operates one of the largest dairy-based renewable natural gas (“RNG”) facilities in the United States, turning by-products into clean, reliable energy. Gevo also operates an ethanol plant with an adjacent carbon capture and sequestration (“CCS”) facility, further solidifying America’s leadership in energy innovation. Additionally, Gevo owns the world’s first production facility for specialty alcohol-to-jet (“ATJ”) fuels and chemicals. Gevo’s market-driven “pay for performance” approach regarding carbon and other sustainability attributes, helps ensure value is delivered to our local economy. Through its Verity subsidiary, Gevo provides transparency, accountability, and efficiency in tracking, measuring and verifying various attributes throughout the supply chain. By strengthening rural economies, Gevo is working to secure a self-sufficient future and to make sure value is brought to the market.

    For more information, see www.gevo.com.

    Forward-Looking Statements
    Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the promotion of Lindsay Fitzgerald, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2024, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

    Media Contact
    Heather L. Manuel
    VP, Stakeholder Engagement & Partnerships
    PR@gevo.com

    IR Contact
    Eric Frey
    VP, Finance & Strategy
    IR@Gevo.com

    The MIL Network

  • MIL-OSI: BIGG Digital Assets to Present at the Blockchain and Digital Assets Virtual Investor Conference on June 5th

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, June 03, 2025 (GLOBE NEWSWIRE) — BIGG Digital Assets (OTCQX: BBKCF, TSXV: BIGG), based in Vancouver, British Columbia, is focused on The Future of Digital Assets and Web3, today announced that Fraser Matthews will present live at the Blockchain and Digital Assets Virtual Investor Conference hosted by VirtualInvestorConferences.com, on June 5th, 2025

    DATE: June 5th
    TIME: 10:30 AM ET
    LINK: REGISTER HERE
    Available for 1×1 meetings: June 5-6, 9-10, 2025

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

    Learn more about the event at www.virtualinvestorconferences.com.

    Recent Company Highlights

    • 2024 Total Revenue of $12.4m
    • Netcoins Canada – 2024 Trading Volume of $830m with ~$200m AUC
    • Released QLUE Express and TokenEyes, which are Industry-Leading Blockchain Forensics Tools powered by Blockchain Intelligence Group
    • Developing proprietary Metaverse technology with TerraZero

    About BIGG Digital Assets
    BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG has three portfolio companies: Netcoins (Netcoins.com), Blockchain Intelligence Group (BlockchainGroup.io), and TerraZero (TerraZero.com).

    About Virtual Investor Conferences®
    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

    Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    CONTACTS:
    BIGG Digital Assets
    Dan Reitzik
    Interim CEO
    ir@biggdigitalassets.com
    778.819.3890

    Virtual Investor Conferences
    John M. Viglotti
    SVP Corporate Services, Investor Access
    OTC Markets Group
    (212) 220-2221
    johnv@otcmarkets.com

    The MIL Network

  • MIL-OSI: Nasdaq Reports May 2025 Volumes

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 03, 2025 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq: NDAQ) today reported monthly volumes for May 2025 on its Investor Relations website. A data sheet showing this information can be found at: http://ir.nasdaq.com/financials/volume-statistics.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Cautionary Note Regarding Forward-Looking Statements
    Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to (i) projections relating to our future financial results, total shareholder returns, growth, trading volumes, products and services, ability to transition to new business models, taxes and achievement of synergy targets, (ii) statements about the closing or implementation dates and benefits of certain acquisitions, divestitures and other strategic, restructuring, technology, de-leveraging and capital allocation initiatives, (iii) statements about our integrations of our recent acquisitions, (iv) statements relating to any litigation or regulatory or government investigation or action to which we are or could become a party, and (v) other statements that are not historical facts. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to, Nasdaq’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

    Media Relations Contacts:

    Nick Jannuzzi
    +1.973.760.1741
    Nicholas.Jannuzzi@Nasdaq.com

    Investor Relations Contact:

    Ato Garrett
    +1.212.401.8737
    Ato.Garrett@Nasdaq.com

    -NDAQF-

    The MIL Network

  • MIL-OSI: AGM Group Holdings Inc. Announces Completion of 50 for 1 Share Consolidation

    Source: GlobeNewswire (MIL-OSI)

    Beijing, June 03, 2025 (GLOBE NEWSWIRE) — AGM Group Holdings Inc. (“AGM Holdings” or the “Company”) (NASDAQ: AGMH), an integrated technology company specializing in the assembling and sales of high-performance hardware and computing equipment, announced that on June 3, 2025 (the “Effective Date”), it completed the consolidation (the “Consolidation”) of the ordinary shares of the Company (the “Shares”) on the basis of 50 pre-Consolidation Shares for every one (1) post-Consolidation Share.

    The Company’s ordinary shares began trading on a post-Consolidation basis at market open on June 3, 2025.

    As a result of the Consolidation, the Company’s total issued and outstanding Class A ordinary shares have been reduced from 98,713,955 Class A ordinary shares with a par value of US$0.001 each to approximately 1,974,279 Class A ordinary shares with a par value of US$0.05 each. The Company’s total issued and outstanding Class B ordinary shares have been reduced from 2,100,000 Class B ordinary shares with a par value of US$0.001 each to approximately 42,000 Class B ordinary shares with a par value of US$0.05 each.

    As stated in the Company’s press release announcing the Consolidation dated May 29, 2025, no fractional shares have been issued to any shareholders in connection with the Consolidation, and any fractional shares which resulted from the Consolidation have been rounded down to the next whole number and the Company has made a cash payment (without interest) to all the holders of Class A Ordinary Shares and Class B Ordinary Shares equal to such fraction multiplied by the average of the closing sales prices of the ordinary shares on Nasdaq during regular trading hours for the five consecutive trading days immediately preceding the first trading day of the Consolidation (with such average closing sales prices being adjusted to give effect to the Consolidation) subject to a de minimums. The Consolidation affected all shareholders uniformly and did not alter any shareholder’s percentage interest in the Company’s ordinary shares, except for adjustments that may result from the treatment of fractional shares.

    Trading in the Class A ordinary shares continues on the Nasdaq Capital Market, under the same symbol “AGMH” but under a new CUSIP Number, G0132V121.

    Registered shareholders who hold physical Share certificates will receive a letter of transmittal requesting that they forward pre-Consolidation Share certificates to the Company’s transfer agent, VStock Transfer, LLC in exchange for new Share certificates representing Shares on a post-Consolidation basis. Shareholders who hold their Shares through a broker or other intermediary and do not have Shares registered in their own name will not be required to complete a letter of transmittal.

    About AGM Group Holdings Inc.

    AGM Group Holdings Inc. (NASDAQ: AGMH) is an integrated technology company specializing in the assembling and sales of high-performance hardware and computing equipment. With a mission to become a key participant and contributor in the global blockchain ecosystem, AGMH focuses on the research and development of blockchain-oriented Application-Specific Integrated Circuit (ASIC) chips, the assembling and sales of high-end crypto miners for Bitcoin and other cryptocurrencies. For more information, please visit www.agmprime.com.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission.

    For more information, please contact:

    AGM Group Holdings Inc.
    Email: ir@agmprime.com
    Website: http://www.agmprime.com

    Ascent Investor Relations LLC
    Tina Xiao
    President
    Phone: +1-646-932-7242
    Email: investors@ascent-ir.com

    The MIL Network

  • MIL-OSI: SPS Commerce to Present at the 1st Annual D.A. Davidson Technology & Consumer Conference

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS, June 03, 2025 (GLOBE NEWSWIRE) — SPS Commerce, Inc. (NASDAQ: SPSC), a leader in retail supply chain cloud services, today announced that management will present at the 1st Annual D.A. Davidson Technology & Consumer Conference on Tuesday, June 10, 2025, at 2:40 PM C.T.

    A webcast of the presentation will be available on the company’s investor relations website at http://investors.spscommerce.com/events.cfm.

    About SPS Commerce

    SPS Commerce is the world’s leading retail network, connecting trading partners around the globe to optimize supply chain operations for all retail partners. We support data-driven partnerships with innovative cloud technology, customer-obsessed service, and accessible experts so our customers can focus on what they do best. Over 50,000 recurring revenue customers in retail, grocery, distribution, supply, manufacturing, and logistics are using SPS as their retail network. SPS has achieved 97 consecutive quarters of revenue growth and is headquartered in Minneapolis. For additional information, contact SPS at 866-245-8100 or visit www.spscommerce.com.

    SPS COMMERCE, SPS, SPS logo and INFINITE RETAIL POWER are marks of SPS Commerce, Inc. and registered in the U.S. Patent and Trademark Office, along with other SPS marks. Such marks may also be registered or otherwise protected in other countries. 

    Contact:
    Investor Relations
    The Blueshirt Group
    Irmina Blaszczyk & Lisa Laukkanen
    SPSC@blueshirtgroup.com
    415-217-4962

    SPS-F

    The MIL Network

  • MIL-OSI USA: c-FIRST Team Sets Sights on Future Fire-observing Satellite Constellations

    Source: NASA

    Two NASA-developed technologies are key components of a new high-resolution sensor for observing wildfires: High Operating Temperature Barrier Infrared Detector (HOT-BIRD), developed with support from NASA’s Earth Science Technology Office (ESTO), and a cutting-edge Digital Readout Integrated Circuit (DROIC), developed with funding from NASA’s Small Business Innovation Research (SBIR) program.

    A novel space-based sensor for observing wildfires could allow first responders to monitor burns at a global scale, paving the way for future small satellite (SmallSat) constellations dedicated entirely to fire management and prevention.
    Developed with support from NASA’s Earth Science Technology Office (ESTO), the “Compact Fire Infrared Radiance Spectral Tracker” (c-FIRST) is a small, mid-wave infrared sensor that collects thermal radiation data across five spectral bands. Most traditional space-based sensors dedicated to observing fires have long revisit times, observing a scene just once over days or even weeks. The compact c-FIRST sensor could be employed in a SmallSat constellation that could observe a scene multiple times a day, providing first responders data with high spatial resolution in under an hour.
    In addition, c-FIRST’s dynamic spectral range covers the entire temperature profile of terrestrial wild fires, making it easier for first-responders to detect everything from smoldering, low-intensity fires to flaming, high intensity fires.
    “Wildfires are becoming more frequent, and not only in California. It’s a worldwide problem, and it generates tons of by-products that create very unhealthy conditions for humans,” said Sarath Gunapala, who is an Engineering Fellow at NASA’s Jet Propulsion Laboratory (JPL) and serves as Principal Investigator for c-FIRST.
    The need for space-based assets dedicated to wildfire management is severe. During the Palisade and Eaton Fires earlier this year, strong winds kept critical observation aircraft from taking to the skies, making it difficult for firefighters to monitor and track massive burns.
    Space-based sensors with high revisit rates and high spatial resolution would give firefighters and first responders a constant source of eye-in-the-sky data.
    “Ground-based assets don’t have far-away vision. They can only see a local area. And airborne assets, they can’t fly all the time. A small constellation of CubeSats could give you that constant coverage,” said Gunapala.
    c-FIRST leverages decades of sensor development at JPL to achieve its compact size and high performance. In particular, the quarter-sized High Operating Temperature Barrier Infrared Detector (HOT-BIRD), a compact infrared detector also developed at JPL with ESTO support, keeps c-FIRST small, eliminating the need for bulky cryocooler subsystems that add mass to traditional infrared sensors.
    With HOT-BIRD alone, c-FIRST could gather high-resolution images and quantitative retrievals of targets between 300°K (about 80°F) to 1000°K (about 1300°F). But when paired with a state-of-the-art Digital Readout Integrated Circuit (DROIC), c-FIRST can observe targets greater than 1600°K (about 2400°F).
    Developed by Copious Imaging LLC. and JPL with funding from NASA’s Small Business Innovation Research (SBIR) program, this DROIC features an in-pixel digital counter to reduce saturation, allowing c-FIRST to capture reliable infrared data across a broader spectral range.
    Artifical intelligence (AI) will also play a role in c-FIRST’s success. Gunapala plans to leverage AI in an onboard smart controller that parses collected data for evidence of hot spots or active burns. This data will be prioritized for downlinking, keeping first responders one step ahead of potential wildfires.
    “We wanted it to be simple, small, low cost, low power, low weight, and low volume, so that it’s ideal for a small satellite constellation,” said Gunapala.
    Gunapala and his team had a unique opportunity to test c-FIRST after the Palisade and Eaton Fires in California. Flying their instrument aboard NASA’s B-200 Super King Air, the scientists identified lingering hot spots in the Palisades and Eaton Canyon area five days after the initial burn had been contained.
    Now, the team is eyeing a path to low Earth orbit. Gunapala explained that their current prototype employs a standard desktop computer that isn’t suited for the rigors of space, and they’re working to incorporate a radiation-tolerant computer into their instrument design.
    But this successful test over Los Angeles demonstrates c-FIRST is fit for fire detection and science applications. As wildfires become increasingly common and more destructive, Gunapala hopes that this tool will help first responders combat nascent wildfires before they become catastrophes.
    “To fight these things, you need to detect them when they’re very small,” said Gunapala.
    A publication about c-FIRST appeared in the journal “Society of Photo-Optical Instrumentation Engineers” (SPIE) in March, 2023.
    For additional details, see the entry for this project on NASA TechPort.
    To learn more about emerging technologies for Earth science, visit ESTO’s open solicitations page.
    Project Lead:  Sarath Gunapala, NASA Jet Propulsion Laboratory (JPL)
    Sponsoring Organization: NASA ESTO

    MIL OSI USA News

  • MIL-OSI Europe: The Netherlands: Leyden Labs lands €20 million EIB investment facilitated by HERA to advance pandemic preparedness activities

    Source: European Investment Bank

    • European Investment Bank and Leyden Labs sign €20 million financing to advance Leyden Labs’ pandemic preparedness activities, guaranteed by European Commission’s InvestEU initiative through its Health Emergency Preparedness and Response (HERA).
    • Funding is part of “HERA Invest,” a €110 million top-up to the European Union’s InvestEU initiative, meant to address pandemic readiness, biodefense and antimicrobial resistance.
    • Leyden Labs will use the funding to advance development of its novel non-vaccine approach, with nasal sprays containing broadly-protective antibodies to defend against seasonal and pandemic viral infections.

    The European Investment Bank (EIB) and Dutch clinical-stage biotechnology company Leyden Laboratories B.V. have signed a €20 million financing deal to advance development of the Company’s broadly-protective antibodies to defend against seasonal and pandemic viral infections. Leyden Labs’ lead program is a pan-influenza nasal spray currently in clinical development (PanFlu), which has the potential to provide first-in-class influenza protection and meaningfully reduce the burden of influenza infection, including in infection from Avian Flu (H5).

    The venture debt financing agreement is supported under the European Commission’s InvestEU programme and specifically falls under “HERA Invest.” This €110 million initiative from the European Health Union is meant to address biodefence, pandemic readiness and antimicrobial resistance in Europe, as a top-up to the European Union’s InvestEU initiative, funded by the EU4Health programme.

    “The COVID-19 pandemic taught us multiple lessons, including that we should strengthen the EU’s preparedness and autonomy in key areas like bio sciences.” stated EIB Vice President Robert de Groot. “With the support of the European Commission, the EIB backs highly innovative EU companies like Leyden Labs with venture debt, enabling them to grow and thrive in Europe. Technological innovations from companies like Leyden Labs are key for European competitiveness and the well-being of our society.” 

    Hadja Lahbib, Commissioner for Equality, Preparedness and Crisis Management, added: “Respiratory viruses are common and affect us all, especially the most medically vulnerable. Today’s agreement reaffirms our commitment to invest in innovation to strengthen preparedness and protection against respiratory viruses. HERA Invest is a prime example of Europe at the forefront of medical advancements in response to serious threats to health.”

    “We are thrilled with this endorsement of our approach and support from HERA and the European Investment Bank. This will accelerate our efforts to provide broad, universal protection against current and future viral outbreaks. We are grateful that HERA and the EIB understand the urgency and significance of investing in initiatives to ensure Europe is prepared for pandemic viruses. This concern is greater than ever given the increasing threat of an avian influenza outbreak,” said Koenraad Wiedhaup, co-founder and CEO of Leyden Labs. 

    Leyden Labs’ product candidates are nasal sprays that administer broadly protective antibodies directly to the respiratory mucosa. Leyden Lab’s solutions are designed to work at the earliest moment, before the virus even reaches systemic circulation. Systemically administered vaccines primarily generate systemic protection against viruses, however, this may be a limitation that contributes to suboptimal efficacy. Airborne viruses, including influenza, do not directly enter systemic circulation, but rather, they enter the body through the nose and mouth. The Company’s antibodies aim to protect against full viral families, so they keep working even when a virus mutates and evolves. This intranasal strategy also has the potential to benefit people with weakened immune systems because it does not rely on the person to be able to mount an immune response in order to be protective.

    The Company’s novel approach has the potential to transform the way the healthcare ecosystem thinks about viral prophylaxis, while also providing an innovative solution for use both in times of seasonal outbreaks as well as pandemic emergencies.

    HERA’s responsibility is to ensure that the EU and Member States are ready to act in the face of cross-border health threats. The €20 million proceeds of this financing will support further development of Leyden Labs’ novel, non-vaccine approach to fighting respiratory viruses to contribute to European pandemic preparedness efforts.

    Background information:

    Health Emergency Preparedness and Response (HERA). The European Commission’s Health Emergency Preparedness and Response Authority (HERA) supports projects that strengthen preparedness and response capacities in the field of health. HERA was established as a direct consequence of the lessons learned from the initial management of the COVID-19 pandemic, to ensure a solid Union response to serious-cross border health threats and secure ready availability and accessibility of medical countermeasures. HERA’s responsibility is to ensure that the EU and Member States are ready to act in the face of cross-border health threats, and its mandate covers both the strengthening of preparedness in advance of future emergencies and the implementation of a swift and efficient response once crisis hits.

    HERA Invest is a €110 million top-up to the InvestEU programme, funded by the EU4Health programme. It is implemented by the EIB and supports projects that focus on pathogens with pandemic potential, chemical, biological, radiological, nuclear threats, and antimicrobial resistance. Together with HERA, the EIB assesses whether an operation meets HERA Invest’s criteria.

    The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments previously available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners who will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

    The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. The Netherlands owns a 5,2% share of the EIB. It makes long-term finance available for sound investment in order to contribute towards EU policy goals and national priorities. More than 90% of its activity is in Europe. Over the last ten years, the EIB has made available more than €27 billion in financing for Dutch projects in various sectors, including research & development, sustainable mobility, drinking water, healthcare and SMEs. In 2024 the EIB Group, which also includes the EIB’s subsidiary, the European Investment Fund (EIF), made available more than €3 billion for Dutch projects.

    Leyden Laboratories B.V. (Leyden Labs), founded in 2020, is a clinical-stage biotechnology company based in the Netherlands. Leyden Labs is working to free people from the threat of respiratory viruses, by leveraging its Mucosal Protection Platform to develop a portfolio of candidates aimed at providing protection against influenza, coronaviruses, and other respiratory viruses through a new class of broadly protective nasal sprays. Leyden Labs is supported by a strong syndicate of investors and ambassadors; VC investors include GV (formerly Google Ventures), Casdin Capital, F-Prime Capital, ClavystBio (a life sciences venture investor established by Temasek), Polaris Partners, Qiming Venture Partners, Invus, SoftBank Vision Fund 2, Byers Capital / Brook Byers and Bluebird Ventures.To learn more, visit www.leydenlabs.com.

    CR9114, Leyden Labs’ lead product candidate for the PanFlu program, is a human monoclonal antibody that protects against influenza in preclinical models. Leyden Labs holds an exclusive license from Janssen Pharmaceuticals Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, to develop and commercialize CR9114.

    MIL OSI Europe News

  • MIL-OSI Asia-Pac: Police National Security Department arrests one man and four women

    Source: Hong Kong Government special administrative region

    The National Security Department of the Hong Kong Police Force yesterday (June 2) arrested a man and four women, aged between 24 and 38, for “conspiracy to commit terrorist activities�.

    Investigation revealed that the arrested persons were allegedly involved in making police reports via telephone, email and instant messaging applications on multiple occasions between April 29 and May 13, including content which claimed to detonate bombs planted within various offices of the Central People’s Government in Hong Kong and Kai Tak Sports Park, as well as seditious message which incited Taiwan independence and Hong Kong independence.

    Police conducted searches at the arrested persons’ residences with court warrants. Some electronic communication devices suspected to be involved in the case were seized.

    The arrested man is being detained for further enquiries. The four arrested women were released on bail pending further investigations.

    MIL OSI Asia Pacific News

  • MIL-OSI USA: Testimony Before the United States Senate Appropriations Subcommittee on Financial Services and General Government

    Source: Securities and Exchange Commission

    Chairman Hagerty, Ranking Member Reed, and members of the Subcommittee. Thank you for inviting me to testify today.[1]

    I am grateful for the opportunity to discuss the Securities and Exchange Commission, including our important mission on behalf of our fellow citizens, investors, and taxpayers. I also appreciate the opportunity as well to speak to some of my priorities as Chairman.

    On April 22, I was sworn in by Secretary of the Treasury Scott Bessent in the Oval Office with President Donald Trump; my family was by my side. I am honored by the trust and confidence that the President and the Senate placed in me to lead the SEC.

    I have returned to the SEC where I was a Commissioner from 2002 to 2008. In that time, I advocated for greater transparency at the agency and emphasized robust cost-benefit analysis when considering new regulations. I also previously served on the staff of two SEC chairmen—Richard Breeden, appointed by President George H.W. Bush, and Arthur Levitt, appointed by President Bill Clinton.

    With my fellow Commissioners, Congress, and SEC staff, I look forward to working to ensure that the United States is well-positioned to seize on the new excitement for investment and economic opportunity that President Trump’s leadership and pro-growth policies have inspired.

    SEC Mission

    First and foremost, it is a new day at the SEC. I am determined that we return to our core mission that Congress set for us more than 90 years ago.

    The SEC’s three-part mission was enunciated by Congress in the Exchange Act: protecting investors; facilitating capital formation; and maintaining fair, orderly, and efficient markets.  

    Investor protection is vital to our mission—holding accountable those who lie, cheat, and steal. The SEC will remain vigilant in our important role to ensure that investors have confidence to participate in the markets.

    Capital formation is also at the root of what we do—fostering a direct, economical route for investors’ capital to find its way to entrepreneurs and industry to create products and services. This engine of growth employs people, helping them to work and save to achieve their dreams.

    The third core part of our mission is maintaining fair, orderly, and efficient markets. Congress calls on the Commission to ensure that our regulations balance costs and benefits, that they do not become too burdensome by adding needless friction to the marketplace, undermining the capital formation that yields so much benefit.

    During my tenure as Chairman, the SEC will not stray from this core three-part mission.

    My time in public service and the private sector, both earlier in my career and more recently, has allowed me to see firsthand how regulations affect markets and investors. They can stoke innovation, facilitate investment goals, and create opportunities—or burdens—on businesses’ ability to compete and serve their customers.

    How we implement regulations at the SEC is crucial; it is one thing to write a regulation, quite another for it to achieve its intended goal. Regulation should be smart, effective, and appropriately tailored within the confines of our statutory authority.

    It takes market experience and focused application to ensure that customers and investors of financial services firms benefit from efficient, effective, and well-designed regulation. Our goal at the SEC must be to facilitate those efforts, analyze their effectiveness, and use our enforcement power to cure and rectify wayward actions.

    In short, clear rules of the road benefit all market participants.

    The SEC is returning rulemaking to regular order. Our comment periods will not be artificially short, and the public will have ample time to provide feedback. The SEC will also be sure to take into consideration how rules overlap and how regulatory burdens build, in keeping with our obligation to consider their costs and benefits. The SEC also looks forward to working with the Office of Information and Regulatory Affairs on our rulemaking.

    I am grateful to Commissioner Mark Uyeda for his stewardship of the agency as acting Chairman of the SEC from January to April, a very productive three months.

    During this transition, he brought clarity to some urgent policy issues that we faced in the courts and some organizational issues as the new Administration came into office.

    He established the Crypto Task Force together with Commissioner Hester Pierce, which has worked with staff to provide necessary guidance to the industry. He normalized the agency’s stance regarding materiality of disclosure requirements to comply with Supreme Court rulings and backed agency actions to extend certain compliance dates and remove personally identifiable information (PII) from the Consolidated Audit Trail (CAT).

    As we look ahead, I am confident in the direction of our work. My experience over the decades will naturally inform my approach as Chairman.

    The Commission will focus on providing meaningful pathways for entrepreneurs to obtain the capital that they need to execute their innovative ideas and grow their companies in both the private and public markets. At the same time, investors that provide such capital must be able to continue to depend on effective enforcement against fraudulent activities.

    Fiscal Year 2026 Budget Request

    On May 30, I submitted to Congress the agency’s fiscal year (FY) 2026 budget request.[2] I am pleased to support President Trump’s request of $2.149 billion for SEC operations. This request reflects the focus on returning to the core mission that Congress set for the agency as well as the resource needs for the Crypto Task Force. This budget level is flat as compared to both the FY 2025 and FY 2024 enacted funding levels.

    The budget request contemplates approximately 4,100 full-time equivalents (FTEs), which is a net reduction of 447 FTEs compared to the FY 2025 level due to attrition following early retirement and buy-out offers in calendar 2025. At this lower FTE level, the budget request actually is approximately $100 million more than the amount that would be required to maintain our current state of operations. There is some uncertainty regarding the FY 2026 budget, including the potential transfer of the functions of the Public Company Accounting Oversight Board (PCAOB) into the SEC.[3] If Congress approves this budget request, we anticipate that this funding could support such a transfer of the PCAOB functions into the SEC in FY 2026.

    SEC Fees

    The SEC’s funding is deficit neutral, as by law any amount appropriated to the agency will be offset by fees on securities transactions under Section 31 of the Securities Exchange Act of 1934 (Exchange Act).

    On April 8, 2025, the SEC announced that starting on May 14, 2025, the fee rates applicable to most covered sales would be set at $0 per million in securities transactions.[4] The Commission determined this new rate in accordance with the Exchange Act.

    The Commission collected its entire FY 2025 appropriation before the new fee rate of $0 per million became effective on May 14. The prior fee rate was $27.80 per million. The Commission is required to set the fee rate to a level that generates fees equal to the Commission’s appropriated amount, so no further collections for fiscal year 2025 are required.

    The Commission will continue to keep this committee, and the public, informed of developments relating to fees on the SEC website.

    SEC Staff Numbers

    The SEC’s Offices and Divisions have decreased headcount by 15% since the beginning of the current fiscal year. Many of our colleagues at the SEC elected to take advantage of the Administration’s Fork in the Road, Voluntary Early Retirement Authority (VERA), or Voluntary Separation Incentive Payments (VSIP). Some left to pursue other opportunities. These departures leave vacancies that in many cases need to be filled. When I left the agency in 2008, we had approximately 3,600 employees. At our height a year ago, we had approximately 5,000 employees plus 2,000 contractors. Today we are at approximately 4,200 employees and 1,700 contractors.

    Digital Assets

    From 2017 until my nomination, I worked to help develop best practices for the digital assets industry and saw firsthand how ambiguous or nonexistent regulations in this space created uncertainty and inhibited innovation. That lack of regulatory framework also invites fraud. 

    A key priority of my Chairmanship will be to develop a rational regulatory framework for crypto asset markets that establishes clear rules of the road for the issuance, custody, and trading of crypto assets while continuing to discourage bad actors from violating the law. Clear rules of the road are necessary for investor protection against fraud—not the least to help them identify scams that do not comport with the law.

    Policymaking will be done through notice and comment rulemaking not through regulation-by-enforcement. The Commission will utilize its existing authorities to set fit-for-purpose standards for market participants. The Commission’s enforcement approach will return to Congress’ original intent, which is to police violations of these established obligations, particularly as they relate to fraud and manipulation.

    This undertaking requires coordination across multiple offices and divisions within the Commission, which is why I am pleased that Commissioner Uyeda and Commissioner Hester Peirce have worked together to establish the Crypto Task Force. For too long, the Commission has been hindered by policymaking silos. The Crypto Task Force exemplifies how our policy divisions can come together to expeditiously provide long-needed clarity and certainty to the American public.

    I am confident that Commissioner Peirce, known for her principled and tireless advocacy for common-sense policy, is the right person to lead the Crypto Task Force’s effort to come up with a rational regulatory framework for crypto asset markets.

    The task force has held four roundtables so far on further defining security status, tailoring regulation for crypto trading, custody considerations, and tokenization. I look forward to the input from industry and additional public feedback during the next roundtable on decentralized finance.

    This is important work. Entrepreneurs across the United States and around the world are harnessing blockchain technology to modernize aspects of our financial system. I anticipate benefits from this market innovation for efficiency, cost reduction, transparency, and risk mitigation.

    SEC Commissioner Roles

    In addition to Commissioner Peirce’s continued leadership of the Crypto Task Force, I have asked Commissioner Uyeda to be our “ambassador” to the International Organization of Securities Commissions (IOSCO). Commissioner Caroline Crenshaw has agreed to take on the SEC’s administrative law proceedings framework and the procedures in adjudications used by our administrative law judges in light of Supreme Court rulings that oblige us to rethink and reform this area.

    Reorganization

    Under Acting Chairman Uyeda, the reporting lines in the Divisions of Enforcement and Examinations were realigned to better reflect each Division’s national programs to improve efficiency, management, and oversight of the Divisions. There will be targeted, common-sense reorganizations to come at the SEC. To start, I am seeking approval from Congress to disband what is known as agency’s Strategic Hub for Innovation and Financial Technology (FinHub). Innovation should be ingrained into the culture SEC-wide and not limited to a relatively small office. Established in 2018, FinHub was created during a critical period of emerging technologies. The rapid development of distributed ledger technology, including digital assets, artificial intelligence, and machine learning, required a centralized effort to build understanding at the SEC. The principles and priorities under which it was established are being integrated into the very fabric of the SEC.

    Technology Review and Optimizing Efficiency

    We have begun a process to review our technology infrastructure and our contractual obligations. This review is long overdue—call it a spring cleaning and reassessment of contracts, especially regarding information technology.

    We publicly announced last month that the Commission determined that certain masked data fields on publicly available reports on Form N-PORT submitted between Feb. 3, 2025, and May 8, 2025, were inadvertently made public on the SEC’s EDGAR system. This was the result of a software update effective Feb. 3. The masking error has been corrected and did not affect Form N-PORT filings made after May 8, 2025.

    This situation is not acceptable. I have directed the initiation of a comprehensive review of the EDGAR system to ensure for data integrity. We need to evaluate what we have, where our vulnerabilities are, and how we can shore up and improve our systems. We will work on optimizing our efficiency and eliminating redundancy.  

    SEC Regional Offices and Leasing

    The SEC has 10 regional offices across the country. In late February, the General Services Administration (GSA) informed the SEC that it would terminate leases utilized by the SEC’s Los Angeles Regional Office and the Philadelphia Regional Office. Discussions with the GSA and the landlords are ongoing, and I will keep this Committee apprised of those developments. In the meantime, the leases are in their “soft term” and are not terminated.

    I firmly believe in the SEC’s regional office concept. We cannot and should not have all of the SEC’s staff in Washington and New York. Risk management, human resource development, and practicality for our examination teams—as one example—provide ample reinforcement for the need to maintain these offices.

    Conclusion

    As I said at the outset of this testimony, it is a new and brighter day for the SEC.

    We will work with our colleagues in the Administration, especially other financial services regulators, and with Congress to bolster the economy and build on U.S. leadership of the global markets.

    This is a pivotal moment for our economy. Entrepreneurs, businesses, and individuals here at home and across the globe are eager to invest in America.

    This SEC will work to protect investors from fraud, keep politics out of how our securities laws and regulations are applied, and advance clear rules of the road that encourage investment in our economy to the benefit of all Americans.

    This SEC will work to ensure that regulations promote capital formation rather than stifle it. We will work together to ensure American investors get disclosures that actually help them understand the true risks of an investment.

    This SEC will make every effort to ensure that the U.S. is the best and most secure place in the world to invest and do business. Americans should always have utmost confidence when investing their hard-earned dollars to save and provide for their future and the future of their families.

    Thank you.

     


    [1] The views expressed in this testimony are those of the Chairman of the U.S. Securities and Exchange Commission and do not necessarily represent the views of the Commission or any Commissioner. 

    MIL OSI USA News

  • MIL-OSI Australia: A new era for Tasmania: Opening of the new Bridgewater Bridge

    Source: Australian Civil Aviation Safety Authority

    The Albanese and Rockliff Governments are proud to mark a historic milestone for Tasmania, with the official opening of the new Bridgewater Bridge – the largest transport infrastructure project in the state’s history.

    The $786 million project represents a significant investment in Tasmania’s future, delivering modern infrastructure that improves connectivity, enhances freight and passenger movement, and supports economic growth across the state.

    The Australian Government contributed $628.8 million to the transformative project, with the Tasmanian Government contributing the remaining $157.2 million. The new bridge has been delivered on time and on budget.

    The new four-lane bridge will deliver faster, more reliable travel times for commuters, freight operators and locals, significantly reducing bottlenecks on this key section of the highway network.

    The new bridge is the fifth to be built across the River Derwent at Bridgewater and symbolises the next chapter in the evolution of this critical transport link.

    It replaces ageing infrastructure with a state-of-the-art structure that will serve the people of Tasmania for decades to come. 

    The 1.2-kilometre-long crossing will improve safety for drivers, pedestrians and cyclists, with new interchanges, a 3-metre-wide shared path and modern safety features.

    The bridge also includes improved access for marine traffic, with a higher clearance and no lift span, reducing delays and improving efficiency for both road and river users.

    It has been designed to support growth throughout the region and has been built with a vision towards the future of the state.

    Since construction began in October 2022, the project has supported around 1000 jobs, more than 25 per cent of which were employees from the local area.   

    Thanks to targeted employment and training programs, the project has created pathways for apprentices, trainees and people new to the civil construction industry to gain real-world experience on a nationally significant construction site.

    This ensures the state’s workforce is equipped for the pipeline of future Tasmanian infrastructure projects.

    The new bridge will open to traffic from tomorrow (Monday, 2 June) with all four lanes operating at 80 km/h.

    Works across the project site will continue over coming weeks, including landscaping, construction of the new roundabout linking Old Main Road and Gunn Street, and removal of the temporary bridge and barges.

    For more information about the project and to see the latest flythrough footage, visit the project website at bridgewaterbridge.tas.gov.au.

    Quotes attributable to Prime Minister of Australia Anthony Albanese:

    “My Government is building Australia’s future by investing in transformative transport infrastructure like the Bridgewater Bridge.

    “We have worked with the Tasmanian Government to deliver a landmark project that will improve safety, deliver a better commuter experience, and boost productivity in this great state.

    “The Bridgewater Bridge is about more than meeting the needs of Tasmanians today – it’s about making sure that Tasmanians have the world class infrastructure they deserve for generations to come.”

    Quotes attributable to Premier of Tasmania Jeremy Rockliff: 

    “This is a bridge built by Tasmanians for Tasmanians, and is something that everyone in the State can be proud of.

    “The Bridgewater Bridge has been talked about for decades, but together with every person involved in this project, we have delivered it.

    “The new Bridge is a testament to what we can achieve in Tasmania when we work together.

    “Major infrastructure projects like this inspire, support our economy, upskill our people, and build a better Tasmania: now and for the future.

    “I want to acknowledge the Federal Government for working with us to deliver this inter-generational infrastructure for Tasmania.”

    Quotes attributable to Federal Minister for Infrastructure, Transport, Regional Development and Local Government Catherine King:

    “The first Bridgewater Bridge opened in 1848, and today we’re opening the fifth, marking a historic milestone in the history of Tasmania.

    “Investing in major infrastructure projects doesn’t just keep people and goods moving, it provides an ongoing boost to local economies through more efficient and effective transport.

    “We are proud to partner with the Tasmanian Government and local industry to deliver this important project which will improve safety, support economic growth and leave a lasting legacy for future generations.”

    Quotes attributable to Tasmanian Minister for Infrastructure Kerry Vincent: 

    “This bridge stands as a testament to what can be achieved when we work together.

    “It is more than just concrete and steel. It is a once-in-a-generation project and a symbol of what the future holds for Tasmania.

    “I want to thank the local community for their patience and understanding during the construction period.

    “The resilience of the local community and the travelling public are what has made this landmark of national significance a success.”

    MIL OSI News

  • MIL-OSI Australia: Brisbane 2032 Games Coordination Commission Visit: A Collective Vision

    Source:

    Thank you Andrew for your kind introduction and welcome.

    It’s a pleasure to be here, and I thank the Brisbane 2032 OCOG for hosting this event. 

    I want to acknowledge the traditional custodians of the land on which we meet the Turrbal and Jagera peoples and pay my respects to Elders past and present.

    Together Australians stand on the shoulders of 1,600 generations of First Nations people, and that is our shared history.

    I also acknowledge to CO-Com, executives and the IOC delegation, particularly President-elect Kirsty Coventry and new Co-Com Chair Mikee Cojuangco Jaworski, who is all but a local… training under own Vicki Roycroft at the Brisbane Showgrounds… Mikee, please know, I view you as my Vicki Roycroft.

    Thank you to my fellow OCOG members, and AOC President Ian Chesterman and new CEO Mark Arbib… Mark’s presence means there are three Federal Sport Ministers in this room – what could go wrong.

    While our Prime Minister Anthony Albanese wishes he could be here this week with you, he has just returned from the Pope’s inauguration in Rome.

    If there is one sentence that resonates long after you leave Brisbane… I hope it is this –

    The re-election of the Albanese Government ensures Australia is absolutely committed to making the Brisbane Games – a great Games, for our athletes, for Queensland, Australia and the Pacific.

    There’s a quote from outgoing President Bach that has stuck with me and lights our path to 2032…

    “Like no other human activity, sport is about bringing people together in the spirit of friendship and respect. Sport always builds bridges, it never erects walls.”

    The Australian government views Brisbane 2032 as an amphitheatre for our athletes to bring people together for greater health and social cohesion from playground to podium. 

    Because sport makes us hug strangers. And we have evidence of that right below us – on that grass.

    I understand there is a tour of this stadium later today but this venue is so much more than turnstiles and corporate boxes.

    You see, for decades that grass behind you was only known for men clashing in violent rugby contests.

    Until we hosted the Women’s Football World Cup in 2023, when just down there, three seconds changed a nation.

    A moment when a young woman called Cortnee Vine, who learned to kick a ball in the outer suburbs of Brisbane, 10 kms north of here, curled a penalty past France’s goalkeeper to send Australia through to the World Cup semi-final. 

    Our greatest World Cup achievement.

    I was sitting just up there. I cried. I launched a ferocious hug on a bewildered Prime Minister that prompted Federal Police to hover.

    Cortnee’s goal speaks to why the 2032 Games must be about sporting Moments not monoliths.

    That moment and significant funding from the Australian government led to a ten per cent increase in women’s football participation post tournament.

    That match is among the top five most watched television programs in Australian history.

    In fact, four of those five are women’s sporting events, including Cathy Freeman’s 400 metre gold in Sydney.

    This September marks 25 years since those Sydney Games transformed Australia.

    Brisbane 2032 must and will drive even greater participation and social cohesion.

    As a key Games Delivery Partner, I want to assure the Games family the Australian Government is a steadfast partner and we thank the IOC for your esteemed leadership.

    Our immediate areas of focus include governance, infrastructure, impact and legacy.

    I know how dedicated the IOC is to fostering sport through the Pacific and note your recent trip to Guam – we share that same passion.

    We will make 2032 a north star for a more inclusive sport environment throughout the region and for our Pacific family.

    From the outset the Australian Government has backed Brisbane 2032.

    We provided more than $8.6 million to the Queensland Government to support its candidature bid and its only grown from there.

    Already, our 2032 funding commitment across infrastructure, transport, high performance, major events and grass roots has exceeded $16 billion dollars. 

    This includes more than $12.4 billion dollars in Games related transport, more than $3.4 billion dollars in Games venues and in the past 18 months alone almost a billion-dollar commitment to grass roots and high-performance sport.

    Crucially, we made a two year $489 million in Olympic and Paralympic sport as we head to LA28.

    This is the largest Olympic and Paralympic sport investment ever.

    This means that 95% of Olympic and Paralympic summer sports are receiving increased funding with an average increase of 64% per year, compared to the period leading up to Paris Games.

    More sports are being supported too, with an increase from 54 to 68 summer Olympic and Paralympic programs funded in the lead-up to LA.

    We have also increased our Direct Athlete Investment Scheme – DAIS – funding, boosting it to $41.4m across two years.

    DAIS is money in the athlete’s pocket so they can spend more time training and less time fundraising.

    This means more than 1000 Australian athletes now receive DAIS funding.

    Crucially we have also doubled the money going towards Paralympic sports with an extra $54.9m over the next two years.

    The is the largest commitment an Australian government has made to Para-Sport and will shift the balance of funding from 85 per cent able bodied and 15 per cent people with a disability, to 75 per cent able bodied and 25 per cent people with a disability.

    And, while it hasn’t been announced yet, the Federal Government will invest an additional $2.1m so our Paralympians can travel to Milan Cortina to chase gold. 

    We are determined to do more – because we know 3 in 4 Australians with a disability want to play sport but only 1 in 4 have the opportunity.

    While as Minister for Sport, I am first and foremost athlete-led.

    We have also made major infrastructure commitments including a record $249m for the Australian Institute of Sport to improve our national centre of excellence where our juniors and elites train. 

    This is the biggest investment in the AIS since the early 80’s – before Kirsty and I were born.

    This is on top of our $200m Play Our Way fund for women’s and girls sport infrastructure and programs – the largest ever sport funding package to build female changerooms and women-specific sporting environments.

    And… since we came to Government Labor has funded more than $80m in Major Events as well including the Canoe World Champs that the IOC’s own Jess Fox will star in later this year.

    The Albanese Government will also invest up to $3.435 billion in Games venues in a 50/50 partnership with the Queensland Government.

    BUT – we are also funding significant Games transport.

    $12.4 billion committed for transport projects in South East Queensland already identified by the Queensland Government as necessary for the Games.

    This includes faster rail, highway upgrades, and major connection pieces that support 2032.

    So this $16 billion commitment will revitalise the AIS, boost high‑performance sport, increase participation, reduce injuries, enhance guardrails and sport safety, fund legacy arenas and the connections that allow people to visit them while improving integrity for the benefit of all Australians.

    And recent news helps us all. Last week I was honoured to be named Minister for Communications, opening greater synergies for the world’s biggest media event.

    Sport and Comms is now in the infrastructure department, and already Sport Integrity Australia have flagged a goal to embed integrity as a design principle of sport infrastructure.

    We are also continuing work on our IOC Guarantees.

    As part of the candidature process to secure hosting rights, the Albanese Government committed to a range of operational support services.

    These include communications, national security, taxation, integrity, safety and safeguarding, and visa handling.

    We are committed to delivering on these guarantees, taking a coordinated approach across all involved departments to create solutions.

    These threads I’m discussing today are hemmed through Australia’s first ever ten-year plan for sport.

    Australia’s National Sport Strategy, Sport Horizon, will capitalise on sport’s power, and outlines my government’s priorities for this sector.

    It affirms our commitment to creating a safe, fair, and sustainable sector that grows participation, drives positive social change, grows our economy and strengthens international relationships.

    It emphasises the pursuit of gender equity.

    For the first time in Australian history, sporting boardrooms across Australia must meet gender equity targets or risk government funding being withdrawn.

    I have mandated our sports sector must achieve the following governance targets by no later than 1 July 2027:

    50% of all board directors are women and/or gender diverse 

    50% of board chairs are women and/or gender diverse 

    50% of specified board sub-committee members are women and/or gender diverse.

    Because we view sport as a transponder for social change. 

    As President Bach says, sport builds bridges, never erects walls.

    And… we must remember this – 

    The Games’ most valuable treasure – is its athletes. 

    It is not about politicians or political point-scoring.

    Our job is to work with Federations to create environments where brilliance thrives, and then… get out of the way.

    Our job is to enable athletic moments to replace monoliths in 2032.

    So that grass right there conjures the next Cortnee Vine.

    So the aquatic centre a kilometre away creates history like Kirsty did in Athens and Beijing. 

    So Victoria Park is an amphitheatre for our next Cathy Freeman gold medal euphoria.

    I was born and raised in this city… 

    I am not just determined, I am obsessed. Brisbane 2032 will be a great Games.

    Thank you.

    MIL OSI News

  • MIL-OSI USA: ICYMI: Small Business Owner Applauds Ernst Leadership in Making Trump Tax Cuts Permanent

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)
    WASHINGTON – In case you missed it, Palo small business owner Jerry Akers authored an op-ed in The Gazette praising Senator Joni Ernst’s (R-Iowa) leadership in the fight to permanently extend the Trump tax cuts and avoid the largest tax hike in American history.
    As chair of the Senate Committee on Small Business and Entrepreneurship, Ernst invited Akers to testify before Congress in April to ensure the voices of Iowa small businesses are represented as Washington debates repealing the punitive death tax, making the pass-through tax deduction permanent, and other key provisions in the Trump tax cuts.
    Read the full editorial below:
    Don’t raise taxes on small businesses
    By: Jerry Akers
    With the headache of Tax Day behind us, small business owners are looking ahead with a new worry — will the Trump tax cuts be extended, or will they be hit with the largest tax hike in our nation’s history in 2026?
    I know this firsthand as a franchise business owner of Great Clips and The Joint Chiropractic. With my wife and two daughters, I own and operate 33 Great Clips and four The Joint Chiropractic locations across Iowa, as well as Nebraska.
    In April, Sen. Joni Ernst invited me to testify before the Senate Committee on Small Business and Entrepreneurship, which she chairs, to detail why making the Trump tax cuts permanent is so critical for small businesses and franchises like mine.
    Dating back to Benjamin Franklin’s printing press, franchising has been perhaps the most important business growth strategy in our history. It has served as a core American model over centuries for opportunity and entrepreneurism, contributing to robust job creation and providing foundational skills development for small businesses. Franchising allows entrepreneurs to go into business for themselves, but not by themselves.
    Passed in 2017, the Trump tax cuts, or the Tax Cuts and Jobs Act (TCJA), significantly overhauled large portions of the tax code for individuals, families, and businesses. While some of these changes for big businesses were permanent, many of the individual and small business provisions are expiring at the end of this year. The looming expiration is creating uncertainty and giving business owners pause.
    Among the key provisions at risk of expiring include several that provide important tax relief to small businesses.
    For example, the Section 199A deduction provides pass-through businesses with a 20% deduction for qualified business income, which helps level the playing field with larger businesses. Notably, more than 95% of franchised businesses are organized as pass-throughs, meaning we pay individual tax rates, not corporate ones.
    The 199A deduction has enabled me to increase investment in new equipment, technology, and facilities, driving growth and innovation, while the extra financial breathing room has allowed me to hire more employees and provide better benefits.
    Investing in new equipment is just as important as investing in employees. The bonus depreciation provision of the Trump tax cuts provides critical relief but is in danger of expiring. Bonus depreciation allows businesses to deduct a large percentage of the cost of capital investments.
    This immediate deduction significantly reduces taxable income, leading to lower tax liabilities and improved cash flow. For our businesses, this influx of cash is crucial for reinvestment, expansion, or managing operational costs.
    These deductions help level the playing field, allowing businesses like mine to compete with larger corporations, and provide valuable financial stability, especially in achieving the dream of fully passing the businesses on to my two daughters.
    But whether that transfer can happen — hopefully many years from now — may depend on whether Congress makes permanent key estate tax provisions. These provisions allow family businesses like mine to be passed down to the next generation without selling or paying even higher taxes.
    Fortunately, Sen. Ernst has led the fight in Washington to permanently repeal the punitive death tax and ensure that grieving families do not lose their livelihood.
    These are just a few provisions critical to the success of small businesses. I was also encouraged that early version of the legislation included provisions on “No Tax On Tips” and overtime, which will put more money back in the pockets of our staff.
    I thank Sen. Ernst for being a voice for Iowans and small business in Washington, and I urge Congress to make the Trump tax cuts permanent.
    Jerry Akers is a multiunit franchisee of Great Clips and The Joint Chiropractic, and serves on the board of the International Franchise Association (IFA). He lives in Palo.

    MIL OSI USA News

  • MIL-OSI USA: Murphy, Colleagues, Advocates Call Out Trump’s Corrupt Meme Coin Dinner, Demand The Release Of Attendees’ Names And What Favors They’re Getting

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    June 03, 2025

    [embedded content]
    WASHINGTON—U.S. Senator Chris Murphy (D-Conn.) on Thursday led a press conference with U.S. Senators Elizabeth Warren (D-Mass.), Jeff Merkley (D-Ore.), and Richard Blumenthal (D-Conn.) and U.S. Representative Sam Liccardo (D-Calif.), Public Citizen, Citizens for Responsibility and Ethics in Washington (CREW), and End Citizens United to call out the blatant corruption behind President Trump’s meme coin dinner — a secretive, high-dollar event where anonymous crypto investors are buying direct access to Trump. The Members demanded full transparency: who’s attending, how much they paid, and what kind of influence they’re expecting in return for the millions of dollars they put in Trump’s meme coin. With no press, no disclosure, and crypto wallets tied to foreign actors, this dinner isn’t just unethical — it’s a national security risk. It’s pay-to-play politics on steroids, and Trump is cashing in. The dinner is scheduled for tonight at Trump National Golf Club in Sterling, Virginia.
    “We’re here today to call on the President and the people who serve him to do something really simple: release the names of the people who are going to be there,” said Murphy. “Even if you release the names, it’s still corrupt. But at least let us see who’s going to be there. At least let the American people know who has bought access to the President. Release the names. If there’s nothing wrong, if you think that this is all above board, then what are you hiding?”
    “Americans sent us to Congress to unrig the economy — not to help the President turn the White House into a crypto cash machine with private dinners for his top meme coin buyers or legislation that supercharges his stablecoin profits,” said Banking Committee Ranking Member Warren. “The GENIUS Act should be written to prohibit the president and his family from profiting—period.”
    “President Trump has put a ‘for sale’ sign on the White House lawn with his cryptocurrency schemes,” said Merkley. “Congress needs to act fast to stop the massive corruption and national security threat that is Trump selling access and influence to the highest bidders. My End Crypto Corruption Act not only cracks down on this corruption but also prevents other federal officials, like Members of Congress, from betraying our ‘We The People’ government.”
    “Donald Trump is selling access. He is selling out America, he is selling it to a foreign power, and he is putting our national security at risk. Trump is becoming beholden to foreign powers—the Emirates that provided $2 billion to World Liberty Financial, the Qataris that have provided him with a plane, and the unknown foreign actors that have invested in his meme coin operation. It’s not just about corruption—it is about corruption that endangers our national security by putting the president in a compromised position in relation to foreign powers,” said Blumenthal. “My hope is that the Trump Administration will give us the list of individuals attending tonight’s dinner as the Permanent Subcommittee on Investigation has asked them to provide.”
    “I was not invited to dine with Donald Trump today. I’m not disappointed.  But you know who should be disappointed? The 746,000 people (probably many of them Americans) who bought small amounts of that Trump coin – maybe some of them bought a little bit more – who didn’t get invited. When I introduced the MEME Act in the House it was because, to borrow from Richard Nixon, those 764,000 Americans needed to know that their president was a crook. And hopefully, we’re going to find some Republicans who have the courage and the spine to say this is corruption regardless of which party is committing it,” said Liccardo.
    “America should not be for sale. With tonight’s prize dinner, our President is using his private golf course to cater to some of the world’s richest people, instead of working on behalf of working families and our country. He claims to be ‘America first,’ but really, he’s ‘Donald Trump first.’ Between his outrageous meme coin grift, his Tesla car show on the White House lawn, the jumbo jet gift from Qatar and his numerous candlelit dinners for tech bros and foreign billionaires, this President is the definition of corruption and personal profit over regular people,” said Lisa Gilbert, co-president of Public Citizen.
    “The President’s corrupt dinner is yet another alarming example of foreign interests opening their wallets to him. By turning the American presidency into a money-making venture, Trump is inviting an unprecedented level of corruption—and putting our national security at risk. End Citizens United proudly stands with Senator Murphy and the other lawmakers who spoke out today to demand transparency and accountability,” said Justin Unga, Vice President of Public Affairs, End Citizens United.
    Earlier this month, Murphy introduced the Modern Emoluments and Malfeasance Enforcement (MEME) Act, legislation to prevent corrupt federal officials from using their position to profit off digital assets such as meme coins. Rep. Liccardo introduced companion legislation in the U.S. House of Representatives.

    MIL OSI USA News

  • MIL-OSI Security: Romanian National Sentenced for Defrauding Banks and Leaving Hundreds of Banking Customers as Victims in His Wake

    Source: Office of United States Attorneys

    PROVIDENCE – A Romanian national illegally present in the United States who is described in court documents as being an “undeterred serial scammer” who left hundreds of victims in his wake after stealing and using their personal banking information has been sentenced to nearly three years in federal prison and will face deportation proceedings, announced Acting United States Attorney Sara Miron Bloom.

    Mario Demarco, a/k/a Marius Lupu a/k/a David Adamec, 30, pleaded guilty in January to a charge of conspiracy to commit bank fraud. He was sentenced today by U.S. District Court Judge Mary S. McElroy to 33 months in federal prison to be followed by two years of supervised release. Additionally, Demarco was ordered to pay restitution totaling $16,567.06.

    An immigration detainer has been lodged by Immigration and Customs Enforcement.

    Court documents reflect that for more than two years, beginning in October 2022, Demarco traveled up and down the Northeast and Mid-Atlantic installing skimming devices on ATMs. These devices intercepted hundreds of customers’ debit card and banking information, which Demarco used to create fraudulent debit cards. The bogus cards were then used to make unauthorized cash withdrawals, attempted withdrawals, and purchases.

    Throughout the course of the conspiracy, Demarco installed skimming devices on at least ten ATMs and compromised at least 952 cards. Demarco owes restitution to fifteen different banks.

    The case was prosecuted by Assistant United States Attorneys Taylor A. Dean and Ly T. Chin.

    The matter was investigated by Homeland Security Investigations, with assistance from the Warwick, RI, Police Department, Cranston, RI, Police Department, East Greenwich, RI, Police Department, North Kingstown, RI,  Police Department, East Providence, RI, Police Department, Boston, MA, Police Department, New York City Police Department, and the Stratford, CT, Police Department.

    ###

    MIL Security OSI

  • MIL-OSI Security: Two Interrelated Drug Rings Taken Down in Series of Arrests Following Wiretap Investigation

    Source: US FBI

    Follows earlier arrests focused on dealers in International District and “the Jungle”

    Seattle – Fourteen people were indicted in late May and eleven were taken into custody in coordinated arrests last week as part of an ongoing investigation of drug traffickers with ties to drug trafficking in Seattle’s International District and homeless encampments, announced Acting U.S. Attorney Teal Luthy Miller. The defendants are charged in two separate indictments with trafficking cocaine, heroin, fentanyl, and methamphetamine from California into the Western District of Washington.  In addition to searches of Washington locations, search warrants were executed in Oregon and Southern California. The defendants have detention hearings over the next few days.

    “The indictment of five defendants in January 2025 was just the first step,” said Acting U.S. Attorney Teal Luthy Miller. “Now we are prosecuting fourteen additional defendants. Law enforcement partners continued to pursue drug traffickers even after the initial arrests in January to address the importation of substances like fentanyl, methamphetamine, and cocaine into western Washington generally and the International District in particular.” 

    “For years, this criminal organization preyed on the homeless and drug addicted. They terrorized people living and working in the Chinatown-International District and South Seattle,” said Seattle Police Chief Shon F. Barnes. “I am proud of the work our detectives and federal partners have done to put these criminals behind bars where they belong.”

    The seven defendants named in the first indictment for conspiracy to distribute cocaine, methamphetamine, fentanyl, and heroin are:

    Octavio Salazar Palma, 33, of Federal Way, Washington, a U.S. citizen

    Luis Soto Lara, 47, of Vancouver, Washington

    Juan Ramirez Recinos, 41, of Burien, Washington, sought by law enforcement

    German Juarez-Otanez, 34, Bothell, Washington, sought by law enforcement

    Alexander Emilio Cozza, 42, of Seattle

    Marco Antonio Bobadilla, 33, Pacific, Washington

    Isai Gamboa Pacheco, 55, of Everett, Washington

    The seven defendants in the second indictment for conspiracy to distribute cocaine and methamphetamine are:

    Daniel Ibarra Loera, 31, of Kent, Washington

    Jose Garcia Corona, 61, of Seattle

    Leonardo Rojas Cruz, 53 of Federal Way, Washington

    Oscar Omar Serrano Serrano, 31, of Algona, Washington

    Juan Lopez Roblero, 43, of Tukwila, Washington

    Giovanni Antonio Garduno Garcia, 46, of Issaquah, Washington

    Sang Su, 44, Seattle, a U.S. citizen, sought by law enforcement

    In this investigation in March 2025 alone, law enforcement seized 100 pounds of methamphetamine, 111 kilos of cocaine, 19 kilos of fentanyl powder, 250,000 fentanyl pills, and four kilos of heroin. The street value of the narcotics is nearly $3 million.

    “Thanks to the sustained investigative efforts of the FBI and our partners, we are continuing the work we began in November 2023 by first intercepting the flow of dose quantities of dangerous drugs into the International District and homeless encampments in Seattle,” said W. Mike Herrington, Special Agent in Charge of the FBI Seattle field office. “Since January 2025, when we arrested five Washington-based members of this organization, we followed the investigation outside of Washington state as the traffickers made frequent trips into Oregon and California. We are now reaching sources of supply, further stopping these poisons—and the violence that accompanies them—from reaching our communities.”

    On May 29, 2025, law enforcement executed 16 search warrants in Federal Way, Vancouver, Everett, Pacific, Tukwila, Kent, Issaquah, Seattle, Woodlake California and Beaverton, Oregon.  Investigators seized more than seven kilograms of cocaine, 18 kilograms of methamphetamine, more than 57,000 fentanyl pills, and 17 firearms. They also seized more than $353,000 in cash

    Due to the quantities involved some of the defendants face mandatory minimum ten-year prison terms. Federal law enforcement is still determining the citizenship status of many of the defendants in this case.

    “This trafficking group was a major supplier of deadly drugs to the International District and other communities throughout the Seattle area,” said David F. Reames.  “The fentanyl powder and pills our team seized in this case could have yielded enough lethal doses to kill everyone in Seattle twice.  I am proud of our team and would like to thank the Seattle Police, the FBI, the IRS and the Washington National Guard Counterdrug program for their amazing partnership.”

    “Illegal drug trafficking devastates lives and affects us all. It is a huge issue that requires a forceful response,” said Acting Special Agent in Charge Carrie Nordyke, IRS Criminal Investigation (IRS-CI), Seattle Field Office. “This investigation draws from the resilience of our communities, which drives the combined efforts of our law enforcement partners and of our agency. Together, we will push back and continue to make a positive, felt impact for all our friends and neighbors.”

    The charges contained in the indictment are only allegations.  A person is presumed innocent unless and until he or she is proven guilty beyond a reasonable doubt in a court of law.

    This investigation is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks.

    The investigation was led by the FBI, Seattle Police Department and Drug Enforcement Administration (DEA) with significant assistance from the Internal Revenue Service – Criminal Investigation (IRS-CI), the High Intensity Drug Trafficking Areas program (HIDTA), Homeland Security Investigations (HSI), and Washington National Guard Counterdrug Program. Investigators also worked with the Oregon State Police and Clark County, Washington Sheriff’s Office.

    The case is being prosecuted by Assistant United States Attorneys Casey Conzatti and Brian Wynne.

    MIL Security OSI