NewzIntel.com

Category: Finance

  • MIL-OSI Security: Bay Roberts — Bay Roberts RCMP investigates stabbing, man charged

    Source: Royal Canadian Mounted Police

    Thirty-six-year-old Kelvin Coombs is charged with aggravated assault by RCMP NL following a disturbance in Bay Roberts that occurred on March 27, 2025.

    At approximately 4:30 p.m. on Thursday, Bay Roberts RCMP received the report of a stabbing that occurred on a residential property in Bay Roberts. A man was transported to Carbonear General Hospital for treatment of injuries sustained.

    RCMP officers from Bay Roberts and Harbour Grace detachments immediately responded and attended the home. The suspect, Coombs, who initially refused to exit the residence for police, eventually exited the home and was arrested without further incident. He was held in police custody overnight.

    RCMP NL’s East District General Investigation Section was engaged and obtained a warrant to search the property. Last evening, a search was conducted with items seized in support of the charges laid.

    Coombs attends court today and is charged with aggravated assault and breach of probation. The victim is recovering from injuries sustained.

    The investigation is continuing.

    MIL Security OSI –

  • MIL-OSI Security: Albuquerque Man Sentenced for Armed Robberies Targeting Ross Stores

    Source: Federal Bureau of Investigation (FBI) State Crime News

    ALBUQUERQUE – An Albuquerque man was sentenced to 20 years in prison for a string of violent armed robberies targeting multiple Ross Dress for Less stores in 2022.

    There is no parole in the federal system.

    According to court records and evidence presented at trial, Jason Pete Roper, 46, committed three armed robberies at Ross Dress for Less stores on August 14, August 15, and September 8, 2022. Each time, Roper would approach the register with a small item for purchase, wait for the cashier to open the till, and then brandish a firearm and demand money from multiple registers. At trial, the victims, most of whom were teenagers, testified to the fear and emotional distress they continue to suffer, with some forced to leave their jobs and withdraw from school due to the psychological impact.

    Evidence further revealed that Roper not only committed these robberies himself but also perpetuated the cycle of violence by involving his 12-year-old nephew in his criminal activities. Surveillance footage, witness testimony, and a CrimeStoppers tip linked Roper to additional robberies committed by his nephew at a Ross store, a Walgreens, and an attempted robbery at a Taco Bell.

    Upon his release, Roper will be subject to three years of supervised release.

    Acting U.S. Attorney Holland S. Kastrin and Raul Bujanda, Special Agent in Charge of the FBI Albuquerque Field Office, made the announcement today.

    The FBI Albuquerque Field Office and Albuquerque Police Department investigated this case with assistance from the Albuquerque Police Department and Bernalillo County Sheriff’s Office. Assistant U.S. Attorneys Jon Stanford and Samuel Hurtado prosecuted the case.

    MIL Security OSI –

  • MIL-OSI Security: Illegal Alien Indicted for Fentanyl, Firearm, and Immigration-Related Crimes

    Source: Office of United States Attorneys

    Greenbelt, Maryland – A federal grand jury has indicted Sarah Maud Jess, 61, of Capitol Heights, Maryland. Jess is charged with conspiracy to distribute fentanyl, two counts of distribution of fentanyl, one count of possession with intent to distribute fentanyl, possession of a firearm and ammunition by an illegal alien, and reentry of an alien removed after conviction for an aggravated felony.

    Kelly O. Hayes, U.S. Attorney for the District of Maryland, announced the plea with Special Agent in Charge Michael McCarthy, Homeland Security Investigations (HSI) Baltimore; Special Agent in Charge Ibrar A. Mian, Drug Enforcement Administration (DEA) – Washington Division; Special Agent in Charge William DelBagno, Federal Bureau of Investigation (FBI) – Baltimore Field Office; Chief Marc R. Yamada, Montgomery County Police Department (MCPD); and Police Chief Malik Aziz, Prince George’s County Police Department (PGCPD).

    According to the indictment, Jess engaged in a conspiracy to distribute at least 40 grams of fentanyl between November 2023 and October 2024. She also distributed 40 grams or more of fentanyl on specific dates in June and September 2024.  Additionally, Jess is charged with possessing with the intent to distribute 40 grams or more of fentanyl on October 2, 2024; illegally possessing a firearm and ammunition on the same date; and as an alien who was previously removed from the United States after being convicted of an aggravated felony.  Jess was found in the United States without receiving permission to reapply for admission into the country as required by law.

    If convicted, Jess faces a mandatory minimum sentence of five years and a maximum of 40 years for the drug charges; up to 15 years for the firearm charge; and up to 20 years for the aggravated illegal reentry charge.  Actual sentences for federal crimes are typically less than the maximum penalties.

    A federal district court judge determines sentencing after considering the U.S. Sentencing Guidelines and other statutory factors. An indictment is not a finding of guilt.  Individuals charged by indictment are presumed innocent until proven guilty at a later criminal proceeding.

    U.S. Attorney Hayes commended HSI, DEA, FBI, MCPD, and PGCPD for their work in the investigation.  Ms. Hayes also thanked Assistant U.S. Attorneys Elizabeth Wright and Nicholas Potter who are prosecuting the federal case.

    For more information about the Maryland U.S. Attorney’s Office, its priorities, and resources available to help the community, please visit www.justice.gov/usao-md and https://www.justice.gov/usao-md/community-outreach.

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    MIL Security OSI –

  • MIL-OSI: Form 8.3 – AXA INVESTMENT MANAGERS: Advanced Medical Solutions Group plc

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: AXA Investment Managers S.A.
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		  
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 Advanced Medical Solutions Group plc
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:  
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 27 March 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 5p ordinary
      Interests Short positions
      Number % Number %
    (1)   Relevant securities owned and/or controlled: 5,594,026 2.57    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL:
             		 5,594,026 2.57    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
           

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
             

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
                   

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit
             

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
           

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
    None

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
    None

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 28 March 2025
    Contact name: Sabrina AID
    Telephone number*: +33 1 44 45 58 79

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    *If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel’s Market Surveillance Unit.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI USA: Dual Pakistani-Canadian National Arrested for Years-Long Scheme to Circumvent U.S. Export Control Laws

    Source: US State Government of Utah

    Defendants Allegedly Smuggled Millions of Dollars’ Worth of U.S. Goods and Technology to Entities Associated with Pakistan’s Military and Weapons Programs

    An indictment was unsealed yesterday charging Mohammad Jawaid Aziz, also known as Jawaid Aziz Siddiqui and Jay Siddiqui, 67, of Pakistan and Canada, with conspiracy to violate U.S. export laws and violating U.S. export laws. Siddiqui was arrested on March 21 in the Western District of Washington while attempting to cross into the United States from Canada. He remains detained, pending transfer to the District of Minnesota.

    As alleged, from as early as 2003 through approximately March 2019, Siddiqui operated an illicit procurement network through his Canada-based company Diversified Technology Services. The purpose of the network was to obtain U.S.-origin goods on behalf of prohibited entities in Pakistan that were associated with the country’s nuclear, missile, and Unmanned Aerial Vehicle (UAV) programs.

    According to the indictment, Siddiqui, while operating through Diversified Technology Services, procured various goods – including sensitive and restricted items subject to export administration regulations (EAR) and those on the Commerce Control List – from U.S. companies on behalf of the restricted entities in Pakistan. As alleged, Siddiqui and his co-conspirators worked to conceal the true end-users of the goods from U.S. companies, often using front companies and transshipping goods through third countries to evade detection.

    Siddiqui is charged with conspiracy to violate the International Emergency Economic Powers Act (IEEPA) and Export Control Reform Act, which carries a maximum statutory penalty of five years in prison; and violating the Export Control Reform Act, which carries a maximum statutory penalty of 20 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Homeland Security Investigations Minneapolis, the FBI Minneapolis Field Office, and the Department of Commerce’s Bureau of Industry and Security (BIS) Chicago Field Office are investigating the case.

    Assistant U.S. Attorney Bradley Endicott for the District of Minnesota and Trial Attorney Nicholas Hunter of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case. They received assistance from Assistant U.S. Attorney Michelle Jensen from the U.S. Attorney’s Office for the Western District of Washington and the Department’s Office of International Affairs.

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

    MIL OSI USA News –

  • MIL-OSI Security: Former Stoughton Water Department Employee Pleads Guilty to Tampering with Drinking Water

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    BOSTON – A former Stoughton Water Department employee pleaded guilty today to tampering with the Stoughton drinking water supply.

    Robert J. Bullock, Sr., 60, of Brockton, pleaded guilty to one count of tampering with a water system. U.S. District Court Judge Denise J. Casper scheduled sentencing for June 25, 2025. Bullock was indicted by a federal grand jury on March 5, 2024, Bullock.

    According to the charging documents, Bullock is a former employee of the Water Department in Stoughton. On the evening of Nov. 29, 2022, Bullock went into one of the Water Department’s pumping stations and turned off the pump that introduces chlorine into drinking water. As a result, insufficiently disinfected water was introduced into the drinking water system.

    The charge of tampering with a water system provides for a sentence of up to 20 years in prison, three years of supervised release and a fine of $250,000. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

    United States Attorney Leah B. Foley; Jodi Cohen, Special Agent in Charge, Federal Bureau of Investigations, Boston Division; and Kathryn Rivera, Acting Assistant Special Agent in Charge of Environmental Protection Agency, Criminal Investigation Division in Boston made the announcement today. Valuable assistance was provided by the Massachusetts State Police and the Stoughton and Brockton Police Departments. Assistant U.S. Attorney Benjamin Tolkoff of the Criminal Division is prosecuting the case.
     

    MIL Security OSI –

  • MIL-OSI Security: Mortgage Broker That Ran a Ponzi Scheme, Fraudulently Acquired CARES Act SBA Loans, and Filed a False Tax Return is Sentenced to Federal Prison

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    PROVIDENCE, RI – A Rhode Island mortgage broker who ran a Ponzi scheme with investors’ monies causing millions of dollars in losses, who fraudulently obtained more than $160,000 in COVID-19 pandemic-related SBA loans, and who failed to pay more than $140,000 in taxes due the IRS was sentenced today to more than four years in federal prison and was ordered to pay restitution to his victims, announced Acting United States Attorney Sara Miron Bloom.

    Joseph Giuttari, owner and operator of Hybrid Capital Group, LLC, THE FENS CO., LLC, and Realty Funding Advisors, LLC, was sentenced by U.S. District Court Judge Melissa R. DuBose to 55 months of incarceration to be followed by three years of supervised release. Additionally, Giuttari was ordered to pay a fine of $20,000 and to pay restitution to victims of his Ponzi scheme, to SBA loan programs, and to the IRS totaling $4,579,130.95.

    Mr. Giuttari pleaded guilty on October 31, 2024, to charges of wire fraud, theft of government property, and filing a false tax return.  The day after his guilty plea he engaged in brokerage activities in violation of his condition of release.  Upon discovery of his activities, the Court revoked its order of release and remanded him to the custody of the U.S. Marshal pending sentencing.

    Court documents reflect that Joseph Giuttari purported to match borrowers seeking short-term loans with private lenders seeking secured investments in real estate. As part of the scheme, Giuttari served as the clearing house for funds between the borrowers and the investors. In executing his scheme, Giuttari directed investors and closing attorneys to send all or a portion of the loan proceeds directly to him through his multiple business entities and business bank accounts. Instead of forwarding these funds to borrowers as represented to the investors, Giuttari used the money personally or to repay earlier investors who were seeking a return on their investments.

    Additionally, Giuttari fraudulently acquired $167,800 in COVID-19 pandemic Economic Injury Disaster Loans (EIDL) for Hybrid Capital Group and THE FENS CO that he was not entitled to receive, and he falsely stated on his 2019 U.S. Individual Income Tax Return that his total income was $22,176, when in fact it was at least $541,000, thus failing to pay $140,102 due the IRS.

    The case was prosecuted by Assistant United States Attorney Sandra R. Hebert.

    The matter was investigated by the FBI, Internal Revenue Service Criminal Investigation, and Federal Deposit Insurance Corporation Office of Inspector General.

    ###

    MIL Security OSI –

  • MIL-OSI Security: Former Avon, New York, Police Trainee Pleads Guilty to Possession of Child Pornography and Cyberstalking

    Source: Federal Bureau of Investigation (FBI) State Crime News

    ROCHESTER, N.Y.-U.S. Attorney Michael DiGiacomo announced today that Casey Medina, 33, of Rochester, NY, pleaded guilty before U.S. District Judge Meredith A. Vacca to possession of child pornography and cyberstalking, which carry a maximum penalty of 10 years in prison.

    Assistant U.S. Attorney Katelyn M. Hartford, who is handling the case, stated that on August 22, 2024, investigators executed a search warrant on Medina’s cellular telephone. During a forensic extraction and a manual review of the phone, approximately 360 images of child pornography the defendant had received over a social media platform were recovered. At least one image involved a prepubescent child being subjected to violence.

    In addition, between May and August 2024, Medina disseminated and posted sexually explicit photographs that had been edited to falsely depict an individual (victim) engaged in sexually explicit activity to various social media platforms and public websites via the internet. The photographs depicted the victim’s face superimposed on pornographic images made to appear as if she was engaged in sexual intercourse. Beginning in May 2024, over the course of approximately 26 days, and again between June 2024 and July 2024, Medina sent, and recruited others via the internet to send, threatening and harassing text messages to the victim. The messages included threats to kidnap, rape, sexually abuse, and kill her, as well as including the sexually explicit images with her face superimposed on them. In many instances, Medina included identifying information while disseminating the victim’s images, including her hometown and place of work.

    The plea is the culmination of an investigation by the Onondaga County, NY, Sheriff’s Office, under the direction of Sheriff Tobias Shelley, and the Federal Bureau of Investigation, under the direction of Special Agent-in-Charge Matthew Miraglia.         

    Sentencing is scheduled for August 4, 2025, at 2:00 p.m., before Judge Vacca.

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    MIL Security OSI –

  • MIL-OSI Security: Former Financial Advisor Sentenced to 12 Years in Federal Prison for Multimillion-Dollar Fraud Scheme

    Source: Federal Bureau of Investigation (FBI) State Crime News

    EL PASO, Texas – A former Morgan Stanley financial advisor in El Paso was sentenced in a federal court today to 144 months in prison for committing a multi-million dollar fraud scheme.

    According to court documents, from May 2018 to August 2021, Jesus Rodriguez de la Cruz, 46, defrauded his financial services employer, Morgan Stanley, and clients of money through materially false pretenses, representations and promises. Rodriguez de la Cruz orchestrated fraudulent transfers of funds from the bank accounts of Morgan Stanley and clients to other bank accounts for his own benefit.

    In one instance, Rodriguez de la Cruz created false communications and documents impersonating a client and submitted them to Morgan Stanley personnel to cause fraudulent transfers on the client’s line of credit account for personal profit. One of these included a form that falsely claimed the client had verbally authorized the transfer of $48,575.36 for the purchase of real estate in El Paso. Relying on the documentation, Morgan Stanley initiated the wire transfer from the client’s account to an account at a separate financial institution belonging to one of Rodriguez de la Cruz’s family members.

    One fraudulent transfer of approximately $125,000 from a client’s account to an account at another financial institution facilitated Rodriguez de la Cruz’s purchase of a Lamborghini.

    Rodriguez de la Cruz committed similar acts using other Morgan Stanley client accounts. In all, Morgan Stanley suffered a total loss of $5,554,968.10 due to Rodriguez de la Cruz’s scheme. Additionally, Rodriguez de la Cruz did not report any of the embezzled funds as income on his tax returns from 2017 through 2021, causing a loss of $408,055 for the IRS.

    Rodriguez de la Cruz was indicted by a federal grand jury in December 2023 and arrested Jan. 12, 2024. He pleaded guilty on Nov. 5, 2024, to one count of wire fraud, one count of engaging in a monetary transaction over $10,000 using criminally derived proceeds, one count of aggravated identity theft, and one count of making and subscribing a false income tax return.

    “This defendant abused the trust of his clients and his responsibilities as a financial advisory to steal millions of dollars in customer funds in order to enrich himself,” said Acting U.S. Attorney Margaret Leachman for the Western District of Texas. “Today’s sentence of more than a decade in federal prison demonstrates that perpetrators of fraud in this district will be investigated and brought to justice.”

    “The defendant exploited his position of trust as a financial advisor to deceive both his clients and employer for personal gain. Today’s sentencing demonstrates the FBI’s unwavering commitment to pursuing those who abuse their positions for financial fraud and ensuring they are held accountable,” said John Morales, FBI El Paso Special Agent in Charge. “We are grateful for the invaluable collaboration of our partners at the Internal Revenue Service, whose continued assistance is vital in protecting our communities from greed and financial crimes.”

    “Rodriguez is the epitome of criminals fueled by greed that destroy the trust we place in those who handle our personal finances. He stole from his employer, his clients, and even personally recruited a victim to trust him as her financial advisor so he could hijack her accounts, after stealing her identity,” said acting Special Agent in Charge Lucy Tan, of IRS Criminal Investigation’s Houston Field Office. “These complex financial schemes are why law enforcement agencies, like IRS-CI and the FBI, team up to help bring justice to victims and deter future criminals, like Rodriguez, from violating your trust.”

    The FBI and IRS-CI investigated the case.

    Assistant U.S. Attorneys William Calve and Adrian Gallegos prosecuted the case.

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    MIL Security OSI –

  • MIL-OSI Security: Ramah Man Faces Federal Charges for Roadside Shooting

    Source: Office of United States Attorneys

    ALBUQUERQUE – A Ramah man is facing charges in federal court for allegedly shooting at a vehicle, injuring one person.

    According to court documents, on March 18, 2025, a vehicle driven by John Doe swerved to avoid a collision with a blue Jeep driven by Leon Garcia, an enrolled member of the Navajo Nation. After the near-miss, John Doe followed Garcia‘s vehicle to a residence on the Ramah Navajo Reservation. There, Garcia allegedly exited his Jeep armed with a rifle and fired multiple shots at John Doe’s car. As John Doe attempted to turn the vehicle around, Garcia allegedly shot at it multiple times. Garcia also fired again as the vehicle drove away.

    Garcia is charged with assault with a dangerous weapon and will remain in custody pending trial, which has not been set. If convicted of the current charges, Garcia faces up to 10 years in prison.

    Acting U.S. Attorney Holland S. Kastrin and Raul Bujanda, Special Agent in Charge of the Federal Bureau of Investigation’s Albuquerque Field Office, made the announcement today.

    The Gallup Resident Agency of the Federal Bureau of Investigation’s Albuquerque Field Office investigated this case with assistance from the Ramah-Navajo Police Department. Assistant U.S. Attorney Brittany DuChaussee is prosecuting the case.

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

    MIL Security OSI –

  • MIL-OSI Security: Deforest Business Owner Sentenced to Nine Years for Cocaine Trafficking

    Source: Federal Bureau of Investigation (FBI) State Crime News

    MADISON, WIS. – Timothy M. O’Shea, United States Attorney for the Western District of Wisconsin announced that Luis Angel Rios, 50, of DeForest, Wisconsin, was sentenced today by Chief U.S. District Judge James D. Peterson to 9 years in federal prison for attempting to distribute a large quantity of cocaine and maintaining a place for storing and distributing cocaine. Rios pleaded guilty to these charges on January 10, 2025.

    In late 2022 and early 2023, investigators with the U.S. Drug Enforcement Administration began investigating a cocaine trafficking organization operating in Dane County. During an investigation that included the interception of communications between Rios and other participants in the trafficking, investigators determined that Rios was obtaining and selling multiple kilograms of cocaine, and at times cooperating with another local kilogram-level cocaine trafficker to assist in maintaining a drug supply. On June 1, 2023, as a result of phone interceptions and surveillance, investigators intercepted a half-kilogram delivery of cocaine intended for one of Rios’s customers.

    Rios was the owner of a cleaning and maintenance business in DeForest. During the sentencing, Judge Peterson credited Rios with being a hard-working family man, with no criminal history, but observed that the investigation demonstrated that he also applied his hard-working efforts to managing his ability to secure and distribute large quantities of cocaine. The court found that Rios brought more than 15 kilograms of cocaine into the community in a short period of time, which exploited those who had addictions and served to feed other crimes created by drug use.

    Rios’s co-defendant, Braulio Martinez Salazar, was sentenced by Judge Peterson on March 11, 2025, to 3 years for his role in the cocaine trafficking operation.   

    The charges against Rios were the result of an investigation conducted by the Drug Enforcement Administration, FBI, Wisconsin Department of Justice Division of Criminal Investigation, Dane County Narcotics Task Force, and Madison Police Department. Assistant U.S. Attorneys Robert Anderson and William M. Levins prosecuted this case.

    The investigation was conducted and funded by the Organized Crime Drug Enforcement Task Force (OCDETF), a multi-agency task force that coordinates long-term narcotics trafficking investigations.

    MIL Security OSI –

  • MIL-OSI Security: Dual Pakistani-Canadian National Arrested for Years-Long Scheme to Circumvent U.S. Export Control Laws

    Source: United States Attorneys General

    Defendants Allegedly Smuggled Millions of Dollars’ Worth of U.S. Goods and Technology to Entities Associated with Pakistan’s Military and Weapons Programs

    An indictment was unsealed yesterday charging Mohammad Jawaid Aziz, also known as Jawaid Aziz Siddiqui and Jay Siddiqui, 67, of Pakistan and Canada, with conspiracy to violate U.S. export laws and violating U.S. export laws. Siddiqui was arrested on March 21 in the Western District of Washington while attempting to cross into the United States from Canada. He remains detained, pending transfer to the District of Minnesota.

    As alleged, from as early as 2003 through approximately March 2019, Siddiqui operated an illicit procurement network through his Canada-based company Diversified Technology Services. The purpose of the network was to obtain U.S.-origin goods on behalf of prohibited entities in Pakistan that were associated with the country’s nuclear, missile, and Unmanned Aerial Vehicle (UAV) programs.

    According to the indictment, Siddiqui, while operating through Diversified Technology Services, procured various goods – including sensitive and restricted items subject to export administration regulations (EAR) and those on the Commerce Control List – from U.S. companies on behalf of the restricted entities in Pakistan. As alleged, Siddiqui and his co-conspirators worked to conceal the true end-users of the goods from U.S. companies, often using front companies and transshipping goods through third countries to evade detection.

    Siddiqui is charged with conspiracy to violate the International Emergency Economic Powers Act (IEEPA) and Export Control Reform Act, which carries a maximum statutory penalty of five years in prison; and violating the Export Control Reform Act, which carries a maximum statutory penalty of 20 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Homeland Security Investigations Minneapolis, the FBI Minneapolis Field Office, and the Department of Commerce’s Bureau of Industry and Security (BIS) Chicago Field Office are investigating the case.

    Assistant U.S. Attorney Bradley Endicott for the District of Minnesota and Trial Attorney Nicholas Hunter of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case. They received assistance from Assistant U.S. Attorney Michelle Jensen from the U.S. Attorney’s Office for the Western District of Washington and the Department’s Office of International Affairs.

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

    MIL Security OSI –

  • MIL-OSI United Kingdom: CMA proposes to accept commitments to protect competition on UK-US passenger routes

    Source: United Kingdom – Executive Government Non-Ministerial Departments

    Press release

    CMA proposes to accept commitments to protect competition on UK-US passenger routes

    Five airlines have offered commitments to resolve the CMA’s competition concerns over their agreement to cooperate on passenger routes between the UK and US.

    iStock

    • Five well-known airlines – British Airways, Iberia, Aer Lingus, American Airlines, and Finnair – together form the Atlantic Joint Business Agreement, where members agree on key business decisions including prices and schedules
    • As part of a CMA investigation, these airlines have offered commitments to give competitors slots for take-off and landing at London airports on 3 key routes: London-Boston, London-Miami, and London-Chicago; and to carrying a minimum number of passengers on London-Dallas
    • The CMA is consulting on the airlines’ commitments, and interested parties can provide feedback ahead of the CMA reaching a decision on whether to accept them

    The Competition and Markets Authority (CMA) is investigating the Atlantic Joint Business Agreement (AJBA), a group of 5 airlines that cooperate, rather than compete, on transatlantic flights. The companies involved – British Airways, Iberia, Aer Lingus, American Airlines, and Finnair – contribute aircraft and flight slots, coordinate routes and selling and distribution, and share revenue, under the agreement.

    The European Commission reviewed the AJBA in 2010, accepting commitments (including the availability of slots on some UK-US routes) which were effective for 10 years.

    The CMA commenced investigating the AJBA in 2018 (in preparation for the end of those commitments) and considered a potential commitments package in early 2020. However, due to the impact of the COVID-19 pandemic, the CMA instead imposed Interim Measures (effectively extending the key terms of commitments which had been accepted by the Commission for 5 years). As the sector is now sufficiently recovered from the pandemic, the CMA has completed its review of the AJBA and has considered a new package of commitments offered by the parties which it provisionally considers will address its competition concerns.

    Commitments under consultation

    The commitments would require American Airlines and British Airways – the only 2 of these airlines to fly directly on these routes – to offer slots to competitors on 3 key UK-US routes: London-Boston, London-Miami, and London-Chicago. Rival airlines would then be able to apply for these slots, available at London’s Heathrow and Gatwick airports, allowing them to offer or increase flights on these routes – ensuring UK-US travelers can get the best deals when choosing which airline to fly with. Remedy slots allowing competitor airlines to operate on US-UK routes have been a core part of the commitments which have been in place since 2010.

    Slots at these two London airports are difficult to obtain. The airlines that have the rights to them are able to keep them provided they meet the minimum use criteria every year. This means these sought-after slots rarely become available – however, the commitments will continue to allow rival airlines to compete on the specific UK-US routes by reducing this key barrier to entry.

    A further aspect of the commitments package is a requirement that British Airways and American Airlines carry a minimum number of ‘local passengers’ (those who do not start or end their journeys elsewhere) on the London-Dallas route each year. This would protect against a reduction in services on the route and help to constrain prices. The commitments also include measures to support competing airlines on the 3 key routes, including giving access to connecting passengers on preferential terms.

    Juliette Enser, Executive Director of Competition Enforcement at the CMA, said:

    Airline alliances can deliver broader economic benefits, such as enhanced connectivity and new services. But the CMA has concerns about the AJBA’s impact on key UK-US routes.

    Accepting these commitments could address those concerns and protect passengers on the routes, including by making it easier for other airlines to compete, and bring our investigation to a close while allowing the AJBA to continue to operate.

    As is standard practice, the CMA is consulting on the commitments offered by the airlines. Interested parties now have the opportunity to provide feedback on the proposed commitments, which will be considered by the CMA before it makes a decision on whether to accept the commitments in their current form.

    More information about the CMA’s investigation can be found on the dedicated web page: Investigation of the Atlantic Joint Business Agreement.

    Notes to editors

    1. British Airways, Iberia and Aer Lingus are owned by International Consolidated Airlines Group SA.
    2. The CMA is today publishing its Notice of Intention to Accept Commitments. Comments from interested parties are invited until 23 April 2025.
    3. Formal acceptance of the commitments would result in the CMA terminating its investigation and not proceeding to a decision on whether the Competition Act 1998 has been infringed. Accordingly, a decision by the CMA accepting binding commitments would not include any statement as to whether or not the conduct of any of the parties has infringed the Competition Act 1998 prior to the acceptance of the commitments or once the commitments are in place.
    4. The CMA has engaged with the US Department of Transportation throughout the investigation to date.
    5. Further details of the CMA’s procedures in Competition Act 1998 cases can be found here.
    6. For media enquiries, please contact the CMA press office on 0203 738 6460 or press@cma.gov.uk

    Updates to this page

    Published 28 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI Security: Ohio Man Found Guilty of Using His Tax Prep Clients’ Identities to Defraud the Federal Government of Pandemic Funding

    Source: Office of United States Attorneys

    CLEVELAND – A federal jury has convicted Mustafa Ayoub Diab, 41, of Ravenna, Ohio, of orchestrating a financial conspiracy that defrauded the U.S. government of pandemic benefits. After an approximately week-long trial, Diab was found guilty on 12 counts of theft of government funds, 12 counts of bank fraud, 11 counts of wire fraud, 6 counts of aggravated identity theft, and 1 count each of conspiracy to commit wire and bank fraud and to launder monetary instruments.

    According to court documents, Diab owned and operated a tax return preparation business in Akron, Ohio. Along with his co-conspirator, Elizabeth Lorraine Robinson, 33, of Ravenna, the couple developed a scheme to take advantage of government programs that expanded unemployment and small business benefits that became available during the COVID-19 pandemic.

    One such program, the Pandemic Unemployment Assistance Program, was expanded to individuals who otherwise did not qualify for regular benefits. Additionally, the Paycheck Protection Program, was administered by the U.S. Small Business Administration and provided resources and assistance to small businesses to cover payroll, utilities, rent/mortgage, accounts payable and other bills incurred which were tied to the COVID-19 pandemic. Diab exploited both of these programs for his benefit.

    From around, June 2020 to August 2021, Diab submitted fraudulent applications for pandemic unemployment benefits and small business assistance for many of his tax preparation business clients. Without their knowledge, he lied about their employment, or about being small business owners, on the applications so they would qualify to receive pandemic funds and benefits.

    Investigators also discovered that Diab opened bank accounts in his clients’ names to receive the pandemic benefit funds via direct deposit, which the clients did not have access to, along with accounts in the names of Robinson and Diab’s sister. When the pandemic relief funds were deposited into these accounts, he immediately withdrew the funds in cash for his personal use. With the cash, Diab bought real estate, cars and took international trips. In evidence presented to the jury at trial, Diab submitted fraudulent applications in the names of nearly 80 victims, causing the federal government to pay out more than $1.2 million in pandemic benefits that were deposited into the various bank accounts that Diab controlled.

    Sentencing is scheduled for July 28, 2025. Diab faces a maximum penalty of 30 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Robinson pleaded guilty to conspiracy, wire fraud, bank fraud, and theft of government funds in February and is currently awaiting sentencing. She also faces up to 30 years in prison.

    The FBI Akron Division investigated this case. Assistant U.S. Attorneys Vanessa V. Healy and Brenna L. Fasko prosecuted that case for the Northern District of Ohio.

    MIL Security OSI –

  • MIL-OSI Security: Leader of Fentanyl Trafficking Organization Sentenced to 10 Years in Prison

    Source: Office of United States Attorneys

    Drug trafficking organization operated in Southeastern Massachusetts and Rhode Island

    BOSTON – A Providence, R.I. man was sentenced yesterday in federal court in Boston for leading a drug trafficking organization (DTO) operating in Southeastern Massachusetts and Rhode Island.

    Estarlin Ortiz-Alcantara, 38, was sentenced by U.S. District Court Judge Allison D. Burroughs to 10 years in prison, to be followed by five years of supervised release. The defendant is subject to deportation upon completion of the imposed sentence. In December 2023, Ortiz-Alcantara pleaded guilty to one count of conspiracy to distribute and to possess with intent to distribute 400 grams or more of fentanyl and one count of possession with intent to distribute 400 grams or more of fentanyl. Ortiz-Alcantara was charged in July 2022 and subsequently indicted by a federal grand jury in August 2022.

    Between approximately February 2021 and July 2022, Ortiz-Alcantara managed a DTO that distributed fentanyl in Southeastern Massachusetts and Rhode Island. As part of his DTO’s operations, Ortiz-Alcantara controlled a stash house in Fall River to store, process and distribute fentanyl and employ numerous individuals who assisted with mixing, packaging and distributing fentanyl. During a search of Ortiz-Alcantara’s stash house in July 2022, more than 12 kilograms of fentanyl, as well as items consistent with running a fentanyl business, including blenders, a hydraulic press and baggies were seized.

    United States Attorney Leah B. Foley; Stephen Belleau, Acting Special Agent in Charge of the Drug Enforcement Administration, New England Division; New Bedford Police Chief Paul Oliveira; and Fairhaven Police Chief Michael J. Myers made the announcement today. Special assistance was provided by the Massachusetts State Police; Homeland Security Investigations; Bristol County Sherriff’s Office; and the Fall River, Taunton, Attleboro, Scituate, Yarmouth, Providence (R.I.) and West Warwick (R.I.) Police Departments. Assistant U.S. Attorney John T. Mulcahy of the Criminal Division prosecuted the case.

    This effort is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF. 
     

    MIL Security OSI –

  • MIL-OSI: Form 8.3 – Highcroft Investments Plc

    Source: GlobeNewswire (MIL-OSI)

    8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: Rathbones Group Plc
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		  
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 Highcroft Investments Plc
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:  
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 27/03/2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 Yes – LondonMetric Property plc

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 25p Ord
      Interests Short positions
      Number % Number %
    (1)   Relevant securities owned and/or controlled: 3,400 0.06%    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        

            TOTAL:

    		 3,400 0.06%    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
           

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
             

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
                   

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit
             

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
           

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
    None

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
    None

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? No
    Date of disclosure: 28/03/2025
    Contact name: Chinwe Enyi – Compliance Department
    Telephone number: 0151 243 7053

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at.

    The MIL Network –

  • MIL-OSI: Urbana Corporation recognized for highest executive gender diversity on The Globe and Mail’s 2025 Women Lead Here list for the third time

    Source: GlobeNewswire (MIL-OSI)

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

    TORONTO, March 28, 2025 (GLOBE NEWSWIRE) — Urbana Corporation (TSX & CSE: URB & URB.A) is pleased to announce it will be recognized on The Globe and Mail’s 2025 Report on Business magazine’s sixth annual Women Lead Here list. This annual editorial benchmark identifies top-level Canadian businesses with the highest executive gender diversity.

    The Women Lead Here benchmark was established in 2020 by Report on Business magazine and applies a proprietary research methodology to provide an overview of the largest Canadian corporations with the highest degree of gender diversity among executive ranks. The ranked companies have made tangible and organizational progress related to executive gender parity.

    “We have an incredible team of highly committed professionals dedicated to building an exceptional company. We are extremely grateful for the contributions of our female executives,” quoted Thomas S. Caldwell, C.M., Chair of Urbana Corporation.

    For the 2025 ranking, Report on Business conducted a journalistic analysis of approximately 500 large publicly-traded Canadian companies based on revenue, evaluating the ratio of female-identifying to male-identifying executives in the top three tiers of executive leadership. The resultant data was applied to a weighted formula that also factored in company performance, diversity and year-to-year change.

    In total, 93 companies earned the 2025 Women Lead Here seal, with a combined average of 46% of executive roles held by female-identifying individuals.

    The 2025 Women Lead Here list is published in the April 2025 issue of Report on Business magazine, distributed with The Globe and Mail on March 29, 2025 and online at tgam.ca/WomenLeadHere

    ABOUT URBANA CORPORATION
    Urbana Corporation is a diversified investment company. Urbana’s strategy is to seek out, and invest in, private investment opportunities for capital appreciation and invest in publicly traded securities to provide growth, income and liquidity.

    ABOUT THE GLOBE AND MAIL
    The Globe and Mail is Canada’s foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With our award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 6.1 million readers every week in our print or digital formats, and Report on Business magazine reaches 2.8 million readers in print and digital every issue. Our investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family.

    For further information contact:

    Elizabeth Naumovski, Investor Relations (416) 595-9106 enaumovski@urbanacorp.com

    The MIL Network –

  • MIL-OSI: EMGS: Disclosure of Large Shareholding (Flagging)

    Source: GlobeNewswire (MIL-OSI)

    On 28 March 2025, Siem Investments S.à r.l., holding 43,327,467 shares in Electromagnetic Geoservices ASA (33.08% of shares and votes), was merged into Momentum S.à r.l.

    Both entities are wholly owned subsidiaries of Siem Industries S.A. The merger did not result in any change in ultimate control.

    This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act

    The MIL Network –

  • MIL-OSI Security: Starkville Man Sentenced to 10 Years for Violating Federal Firearms Laws

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (c)

    Greenville, MS – A Starkville man was sentenced today to 10 years in prison for violation of federal firearms laws.

    According to court documents, Antonio Johnson, 49, pled guilty to possession of one or more firearms by a previously convicted felon as well as possession of firearms in furtherance of a drug trafficking crime. U.S. District Judge Debra M. Brown sentenced Johnson today to 120 months in prison followed by five years of supervised release. Johnson was remanded to the custody of the U.S. Marshals following sentencing.

    “The public has every right to expect repeat offenders to receive significant sentences, and this defendant will now have 10 years in a federal prison to reconsider his actions,” said U.S. Attorney Clay Joyner. “AUSA Robert Mims and our partners at the FBI, ATF and Starkville Police Department worked seamlessly to bring justice to an individual who earned every day of this sentence.”

    “Protecting the safety of our communities is one of the cornerstones of what ATF seeks to accomplish every day,” said ATF New Orleans Special Agent in Charge Joshua Jackson. “To convicted felons and others making our streets unsafe with gun violence and drugs – law enforcement is here. No matter how long it takes, we will investigate, arrest, prosecute and ensure you are held accountable for your actions.”

    “Mr. Johnson’s sentencing demonstrates a steadfast commitment of the FBI and our law enforcement partners to protect the public from those individuals who illegally possess firearms in furtherance of drug trafficking crimes,” stated FBI Jackson Field Office Special Agent in Charge Robert Eikhoff. “Criminals possessing and using firearms in the commission of any crime are threats to our communities, for those who seek to threaten and intimidate Mississippians through these egregious crimes will be aggressively pursued by the FBI and brought to justice.  We will continue our collective efforts through the Project Safe Neighborhoods program, to reduce violent crime and gun violence in our communities across Mississippi.”

    “Strong convictions matter; they have a lasting impact and require hard work,” said Chief Mark Ballard of the Starkville Police Department. “Our community is safer as a result of these agencies’ efforts. On behalf of the Starkville Police Department, we are very thankful for our working relationship with FBI Jackson, the ATF New Orleans, and the U.S. Attorney’s Office for the Northern District of Mississippi.”

    This case was investigated by the FBI, the Starkville Police Department, and the Bureau of Alcohol, Tobacco, Firearms, and Explosives.

    Assistant U.S. Attorney Robert Mims prosecuted the case.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    MIL Security OSI –

  • MIL-OSI United Kingdom: Spring Statement heralds further boost to growth in Scotland

    Source: United Kingdom – Executive Government & Departments

    News story

    Spring Statement heralds further boost to growth in Scotland

    Scottish Secretary welcomes Chancellor’s £2.2billion defence budget boost to create more jobs and opportunities in the sector as part of Plan for Change

    Growth is central to the Spring Statement announcements and Plan for Change, as Sec of State Ian Murray championed at the signing of the Argyll & Bute Growth Deal recently

    Chancellor Rachel Reeves this week pledged a new era of security and national renewal as she delivered a Spring Statement to kickstart economic growth, protect working people and keep Britain safe. 

    Scottish Secretary Ian Murray has welcomed her measures, including a £2.2 billion increase in the UK-wide defence budget for 2025-26, on top of £2.9 billion announced at Autumn Budget.

    Mr Murray said:

    We are living in an increasingly insecure world, and the extra £2.2 billion for defence – on top of the £2.9 billion announced at Autumn Budget – will make Britain stronger and safer. This is a huge boost for Scotland’s world-leading defence sector, which delivers Scottish economic growth and more highly-skilled jobs. The increase will also mean better homes for our military personnel and families, including the thousands based in Scotland. 

    Today’s announcements underpin the great strides being made by the UK Government in achieving stability in our public finances. There have been three interest rate cuts since the general election. Next week the increase in the minimum wage will mean a pay rise for hundreds of thousands of workers in Scotland and our employment rights legislation will deliver the biggest upgrade in workers’ rights in a generation. 

    The Spring Statement also delivered an extra £28 million for the Scottish Government. That is on top of their £4.9 billion extra from the budget, creating a record £47.7 billion settlement for 25/26, announced at the Autumn Budget. This is the biggest budget settlement in the history of devolution and an end to austerity. The Scottish Government must now use that wisely – to improve Scotland’s failing public services.” 

    This latest defence boost builds on the Chancellor’s recent visit to Babcock in Rosyth where she also announced that UK defence exporters would benefit from a £2 billion increase to UK Export Finance lending capacity. 

    Her Spring Statement underlines that growth is at the heart of the UK Government’s Plan for Change with £13 billion of additional capital spend allocated alongside the defence funding boost.

    It follows the Budget in the autumn where it was announced that the Scottish Government will be provided with a £47.7 billion settlement in 2025/26 – the largest in real terms in the history of devolution. This includes an additional £3.4 billion through the Barnett formula, with £2.8 billion for day-to-day spending and £610 million for capital investment.  

    The measures announced this week top up these Barnett consequentials by a further £28 million in 2025/26.

    The Scottish Government continues to receive over 20% more per person than equivalent UK Government spending in the rest of the UK, translating into over £8.5 billion more in 2025-26. Block Grant funding from 2026-27 onwards will be confirmed at Phase 2 of the Spending Review, which concludes on 11 June 2025. The Chief Secretary to the Treasury will meet with his counterparts from the devolved governments to discuss their priorities ahead of its conclusion.

    Updates to this page

    Published 28 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA News: Making the District of Columbia Safe and Beautiful

    Source: The White House

    class=”has-text-align-left”>By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:

    Section 1.  Purpose.  As the Federal capital city, Washington, D.C., is the only city that belongs to all Americans and that all Americans can claim as theirs.  As the capital city of the greatest Nation in the history of the world, it should showcase beautiful, clean, and safe public spaces. 
    America’s capital must be a place in which residents, commuters, and tourists feel safe at all hours, including on public transit.  Its highways, boulevards, and parks should be clean, well-kept, and pleasant.  Its monuments, museums, and buildings should reflect and inspire awe and appreciation for our Nation’s strength, greatness, and heritage.  Our citizens deserve nothing less.

    Sec. 2.  Policy.  It is the policy of the United States to make the District of Columbia safe, beautiful, and prosperous by preventing crime, punishing criminals, preserving order, protecting our revered American monuments, and promoting beautification and the preservation of our history and heritage. 

    Sec. 3.  Making the District of Columbia Safe by Fighting Crime.  (a)  My Administration shall work closely with local officials to share information, develop joint priorities, and maximize resources to make the District of Columbia safe.  Such coordination shall occur through the D.C. Safe and Beautiful Task Force (Task Force), which is hereby established by this order.  The Task Force shall be chaired by the Assistant to the President and Homeland Security Advisor or his designee, and shall otherwise include representatives from the following departments, agencies, or components, selected as such department, agency, or component determines:
     (i)     the Department of the Interior;
    (ii)    the Department of Transportation;
    (iii)   the Department of Homeland Security;
    (iv)    the Federal Bureau of Investigation;
    (v)     the United States Marshals Service;
    (vi)    the Bureau of Alcohol, Tobacco, Firearms and Explosives;
    (vii)   the United States Attorney’s Office for the District of Columbia;
    (viii)  the United States Attorney’s Office for the District of Maryland; and
    (ix)    the United States Attorney’s Office for the Eastern District of Virginia.
    The Chairman of the Task Force may also select other departments, agencies, or components to participate as he deems necessary.  Representatives of such other departments, agencies, or components shall be selected as such department, agency, or component determines.
    (b)  The Task Force may, to the extent permitted by law, request operational assistance from and coordinate with the Metropolitan Police Department of the District of Columbia (MPD), Washington Metropolitan Area Transit Authority, United States Park Police, Amtrak Police, and other Federal and local officials as appropriate. 
    (c)  The Task Force shall coordinate to ensure effective Federal participation in the following tasks:
    (i)     directing maximum enforcement of Federal immigration law and redirecting available Federal, State, or local law enforcement resources to apprehend and deport illegal aliens in the Washington, D.C. metropolitan area;
    (ii)    monitoring the District of Columbia’s sanctuary-city status and compliance with the enforcement of Federal immigration law;
    (iii)   providing assistance to facilitate the prompt and complete accreditation of the District of Columbia’s forensic crime laboratory;
    (iv)    in collaboration with its leadership and union, providing MPD with assistance to facilitate the recruitment, retention, and capabilities of its police officers and to facilitate work with Federal personnel, resources, and expertise to reduce crime; 
    (v)     collaborating with appropriate local government entities to provide assistance to increase the speed and lower the cost of processing concealed carry license requests in the District of Columbia;
    (vi)    reviewing and, as appropriate, revising Federal prosecutorial policies on seeking pretrial detention of criminal defendants to ensure that individuals who pose a genuine threat to public safety are detained to the maximum extent permitted by law;
    (vii)   collaborating with appropriate local government entities to provide assistance to end fare evasion and other crime within the Washington Metropolitan Area Transit Authority system; and
    (viii)  deploying a more robust Federal law enforcement presence and coordinating with local law enforcement to facilitate the deployment of a more robust local law enforcement presence as appropriate in areas in or about the District of Columbia, including in such areas as the National Mall and Memorial Parks, museums, monuments, Lafayette Park, Union Station, Rock Creek Park, Anacostia Park, the George Washington Memorial Parkway, the Suitland Parkway, and the Baltimore-Washington Parkway, and ensuring that all applicable quality of life, nuisance, and public-safety laws are strictly enforced, such as those prohibiting assault, battery, larceny, graffiti and other vandalism, unpermitted disturbances and demonstrations, noise, trespassing, public intoxication, drug possession, sale, and use, and traffic violations, including as prescribed by Executive Order 13933 of June 26, 2020 (Protecting American Monuments, Memorials, and Statues and Combating Recent Criminal Violence), which was reinstated by Executive Order 14189 of January 29, 2025 (Celebrating America’s 250th Birthday).
    (d) The Task Force shall report to me as necessary through the Assistant to the President and Homeland Security Advisor regarding safety in the District of Columbia, and the tasks set forth in subsection (c) of this section.  As part of this reporting, the Attorney General, in consultation with the Task Force, shall assess whether public-safety circumstances in the District of Columbia require additional executive action. 

    Sec. 4.  Making the District of Columbia Beautiful.  (a)  The Secretary of the Interior, in consultation with the Attorney General, the Secretary of Transportation, the United States Attorney for the District of Columbia, the Administrator of General Services, the National Capital Planning Commission, and the heads of such other executive departments or agencies and local officials as the Secretary of the Interior deems appropriate, shall develop and implement a program to beautify and make safe and prosperous the District of Columbia.
    (b)  The program under subsection (a) of this section shall include, at a minimum, the following elements as appropriate and consistent with applicable law:
    (i)    a coordinated beautification plan for Federal and local facilities, monuments, land, parks, and roadways in and around the District of Columbia;
    (ii)   restoration of Federal public monuments, memorials, statues, markers, or similar properties that have been damaged or defaced, or inappropriately removed or changed, in recent years;
    (iii)  removal of graffiti from commonly visited areas, with local assistance;
    (iv)   proposals to ensure Federal buildings or lands adequately uplift and beautify public spaces and generate in the citizenry pride in and respect for our Nation;
    (v)    a coordinated Federal and local approach to ensure the cleanliness of public spaces, sidewalks, parks, highways, roads, and transit systems in and around the District of Columbia; and
    (vi)   the encouragement of private-sector participation in coordinated beautification and clean-up efforts in the District of Columbia. 
    c)  The Secretary of the Interior shall immediately issue a directive to the National Park Service requiring prompt removal and cleanup of all homeless or vagrant encampments and graffiti on Federal land within the District of Columbia subject to the National Park Service’s jurisdiction, to the maximum extent permitted by law.

    Sec. 5.  General Provisions.  (a)  Nothing in this order shall be construed to impair or otherwise affect:
    (i)   the authority granted by law to an executive department or agency, or the head thereof; or
    (ii)  the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
    (b)  This order shall be implemented consistent with applicable law and subject to the availability of appropriations.
    (c)  This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
     

      
                                   DONALD J. TRUMP
     
     
     
     
    THE WHITE HOUSE,
        March 27, 2025.

    MIL OSI USA News –

  • MIL-OSI: Enact Releases 2024 Sustainability Report

    Source: GlobeNewswire (MIL-OSI)

    RALEIGH, N.C., March 28, 2025 (GLOBE NEWSWIRE) — Enact Holdings, Inc. (Nasdaq: ACT) (Enact) today announced the release of its 2024 Sustainability Report covering the calendar year 2024.

    This report continues Enact’s transparency on its progress in areas vital to its sustainability pillars, priorities identified as critical to Enact’s long-term success by internal and external stakeholders. This year’s report provides new insights into Enact’s approach to sustainability with spotlights on additional facets of Enact’s sustainability initiatives, such as our third party risk management program, professional development programs, and Hurricane Helene relief response.

    “On behalf of the Enact team, I am pleased to share our 2024 Sustainability Report,” said Rohit Gupta, President and CEO of Enact. “Enact remains committed to helping build stronger communities through homeownership, philanthropy, and volunteerism and we know that our continued growth and profitability are contingent in part on our continued focus on sustainability. This year’s report shows the areas where we’re focusing and the progress we’re making as we continue to deliver for all of our stakeholders.”

    Enact’s 2024 Sustainability Report is available on Enact’s Investor Relations website at https://ir.enactmi.com/sustainability.

    Safe Harbor Statement
    This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our expected financial and operational results, the related assumptions underlying our expected results, guidance concerning the future return of capital and the quotations of management. These forward-looking statements are distinguished by use of words such as “will,” “may,” “would,” “anticipate,” “expect,” “believe,” “designed,” “plan,” “predict,” “project,” “target,” “could,” “should,” or “intend,” the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. Our forward-looking statements contained herein speak only as of the date of this press release. Factors or events that we cannot predict, including risks related to an economic downturn or a recession in the United States and in other countries around the world; changes in political, business, regulatory, and economic conditions; changes in or to Fannie Mae and Freddie Mac (the “GSEs”), whether through Federal legislation, restructurings or a shift in business practices; failure to continue to meet the mortgage insurer eligibility requirements of the GSEs; competition for customers; lenders or investors seeking alternatives to private mortgage insurance; an increase in the number of loans insured through Federal government mortgage insurance programs, including those offered by the Federal Housing Administration; and other factors described in the risk factors contained in our most recent Annual Report on Form 10-K and other filings with the SEC, may cause our actual results to differ from those expressed in forward-looking statements. Although Enact believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, Enact can give no assurance that its expectations will be achieved and it undertakes no obligation to update publicly any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.

    About Enact Holdings, Inc.
    Enact (Nasdaq: ACT), operating principally through its wholly-owned subsidiary Enact Mortgage Insurance Corporation since 1981, is a leading U.S. private mortgage insurance provider committed to helping more people achieve the dream of homeownership. Building on a deep understanding of lenders’ businesses and a legacy of financial strength, we partner with lenders to bring best-in class service, leading underwriting expertise, and extensive risk and capital management to the mortgage process, helping to put more people in homes and keep them there. By empowering customers and their borrowers, Enact seeks to positively impact the lives of those in the communities in which it serves in a sustainable way. Enact is headquartered in Raleigh, North Carolina.

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

  • MIL-OSI: Liquidia Corporation Announces FDA Acceptance of New Drug Application Resubmission for YUTREPIA™ (treprostinil) Inhalation Powder

    Source: GlobeNewswire (MIL-OSI)

    MORRISVILLE, N.C., March 28, 2025 (GLOBE NEWSWIRE) — Liquidia Corporation (NASDAQ: LQDA), a biopharmaceutical company developing innovative therapies for patients with rare cardiopulmonary disease, today announced that the U.S. Food and Drug Administration (FDA) has accepted its New Drug Application (NDA) resubmission for YUTREPIA™ (treprostinil) inhalation powder to treat pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). The FDA confirmed that the resubmission was a complete, Class 1 response to the previous action letter issued on August 16, 2024, which granted tentative approval of YUTREPIA for both PAH and PH-ILD. The FDA has set a Prescription Drug User Fee Act (PDUFA) goal date of May 24, 2025.

    Dr. Roger Jeffs, Ph.D., Chief Executive Officer of Liquidia, said: “We are pleased that the FDA has responded promptly to the resubmission that we filed on Monday. We look forward to working with the FDA over the coming months as we seek final approval for YUTREPIA and, in the meantime, will continue preparations to support a launch of YUTREPIA as soon as possible.”

    About Liquidia Corporation
    Liquidia Corporation is a biopharmaceutical company developing innovative therapies for patients with rare cardiopulmonary disease. The company’s current focus spans the development and commercialization of products in pulmonary hypertension and other applications of its proprietary PRINT® Technology. PRINT enabled the creation of Liquidia’s lead candidate, YUTREPIA™ (treprostinil) inhalation powder, an investigational drug for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). The company is also developing L606, an investigational sustained-release formulation of treprostinil administered twice-daily with a next-generation nebulizer, and currently markets generic Treprostinil Injection for the treatment of PAH. To learn more about Liquidia, please visit www.liquidia.com.

    Cautionary Statements Regarding Forward-Looking Statements
    This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical facts, including statements regarding our future results of operations and financial position, our strategic and financial initiatives, our business strategy and plans and our objectives for future operations, are forward-looking statements. Such forward-looking statements, including statements regarding clinical trials, clinical studies and other clinical work (including the funding therefor, anticipated patient enrollment, safety data, study data, trial outcomes, timing or associated costs), regulatory applications and related submission contents and timelines, including the potential for final FDA approval of the NDA for YUTREPIA, which may occur after the expiration of the exclusivity period of TYVASO DPI, if at all, the timelines or outcomes related to patent litigation with United Therapeutics in the U.S. District Court for the District of Delaware, litigation with United Therapeutics and FDA in the U.S. District Court for the District of Columbia or other litigation instituted by United Therapeutics or others, including rehearings or appeals of decisions in any such proceedings, the issuance of patents by the USPTO and our ability to execute on our strategic or financial initiatives, our estimates regarding future expenses, capital requirements and needs for additional financing, and potential revenue and profitability of YUTREPIA, if approved, involve significant risks and uncertainties and actual results could differ materially from those expressed or implied herein. The FDA’s final action of the NDA for YUTREPIA could be delayed beyond the assigned PDUFA date. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would,” and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks discussed in our filings with the SEC, as well as a number of uncertainties and assumptions. Moreover, we operate in a very competitive and rapidly changing environment and our industry has inherent risks. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the future events discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Nothing in this press release should be regarded as a representation by any person that these goals will be achieved, and we undertake no duty to update our goals or to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact Information

    Investors:
    Jason Adair
    Chief Business Officer
    919.328.4350
    jason.adair@liquidia.com

    Media:
    Patrick Wallace
    Director, Corporate Communications
    919.328.4383
    patrick.wallace@liquidia.com

    The MIL Network –

  • MIL-OSI: Enlight Announces Filing of Form 20-F For The Year Ended December 31, 2024

    Source: GlobeNewswire (MIL-OSI)

    TEL AVIV, Israel, March 28, 2025 (GLOBE NEWSWIRE) — Enlight Renewable Energy Ltd. (NASDAQ: ENLT, TASE: ENLT) today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the U.S. Securities and Exchange Commission (the “SEC”).

    The annual report on Form 20-F, which contains Enlight’s audited financial statements, can be accessed at the SEC’s website at http://www.sec.gov, as well as via the Company’s investor relations website at http://www.enlightenergy.co.il/info/investors.

    Enlight will provide a hard copy of its annual report on Form 20-F, including its complete audited financial statements, free of charge to its shareholders upon request.

    About Enlight Renewable Energy

    Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, wind and energy storage. A global platform, Enlight operates in the United States, Israel and 10 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT) and completed its U.S. IPO (Nasdaq: ENLT) in 2023. Learn more at www.enlightenergy.co.il.

    Contacts:

    Yonah Weisz
    Director IR
    investors@enlightenergy.co.il

    Erica Mannion or Mike Funari
    Sapphire Investor Relations, LLC
    +1 617 542 6180
    investors@enlightenergy.co.il

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s expectations relating to the Project, the PPA and the related interconnection agreement and lease option, and the completion timeline for the Project, are forward-looking statements. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible,” “forecasts,” “aims” or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; the potential impact of the current conflicts in Israel on our operations and financial condition and Company actions designed to mitigate such impact; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives for, or regulations mandating the use of, renewable energy; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, tariffs, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) and our other documents filed with or furnished to the SEC.

    These statements reflect management’s current expectations regarding future events and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as may be required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

    The MIL Network –

  • MIL-OSI Banking: India’s International Investment Position (IIP), December 2024

    Source: Reserve Bank of India

    Today, the Reserve Bank released data relating to India’s International Investment Position for end-December 2024[1].

    Key Features of IIP in end-December 2024:

    • Net claims of non-residents on India increased by US$ 11 billion during Q3:2024-25 and stood at US$ 364.5 billion in December 2024.

    • Foreign assets of Indian residents declined by US$ 40.1 billion and the claims of non-residents’ in India also declined by US$ 29.1 billion, resulting in increase in the India net foreign liabilities (Table 1).

    • The decline in Indian residents’ foreign assets during October-December 2024 was mainly on account of the decrease of US$ 70.1 billion in reserve assets.

    • Reserve assets, however, recorded an increase of US$ 13.2 billion over December 2023.

    • The fall in India’s foreign liabilities was due to the decline in inward direct and portfolio investments during the quarter, though trade credit, loans and currency & deposits recorded an increase.

    • Reserve assets accounted for 59.0 per cent of India’s total international financial assets in December 2024 (Table 2).

    • Variation in the exchange rate of rupee vis-a-vis other currencies impacted the change in liabilities, when valued in the US dollar terms.

    • The ratio of India’s international assets to international liabilities improved to 74.7 per cent in December 2024 from 73.1 per cent a year ago.

    • The share of debt liabilities in total external liabilities increased to 53.6 per cent in December 2024 from 52.9 per cent a quarter ago and 51.2 per cent a year ago (Table 3).

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2508

    Table 1: Overall International Investment Position of India
    (US$ billion)
    Period Dec-23 (PR) Mar-24 (PR) Jun-24 (PR) Sep-24 (PR) Dec-24 (P)
    Net IIP (A-B) -368.1 -361.2 -367.2 -353.5 -364.5
    A. Assets 999.0 1,033.8 1,051.7 1,118.8 1,078.7
      1. Direct Investment 236.5 242.3 246.4 253.8 260.2
        1.1 Equity and investment fund shares 149.4 153.4 156.4 161.8 165.7
        1.2 Debt instruments 87.1 88.9 90.0 92.0 94.5
      2. Portfolio Investment 11.7 12.4 12.4 12.5 12.2
        2.1 Equity and investment fund shares 9.5 10.9 10.7 11.2 9.4
        2.2 Debt securities 2.2 1.5 1.7 1.3 2.8
      3. Other Investment 128.3 132.7 140.9 146.7 170.6
        3.1 Trade Credits 31.7 33.5 32.9 33.0 33.3
        3.2 Loans 18.5 17.6 20.8 22.1 22.5
        3.3 Currency and Deposits 44.3 53.5 57.7 56.1 68.7
        3.4 Other Assets 33.8 28.1 29.5 35.5 46.1
      4. Reserve Assets 622.5 646.4 652.0 705.8 635.7
    B. Liabilities 1,367.1 1,395.0 1,418.9 1,472.3 1,443.2
      1. Direct Investment 536.9 542.9 553.0 555.7 547.6
        1.1 Equity and investment fund shares 505.6 511.1 520.8 523.2 513.6
        1.2 Debt instruments 31.3 31.8 32.2 32.5 34.0
      2. Portfolio Investment 268.7 276.8 276.9 293.8 276.0
        2.1 Equity and investment fund shares 161.2 162.1 160.9 170.9 155.6
        2.2 Debt securities 107.5 114.7 116.0 122.9 120.4
      3. Other Investment 561.5 575.3 589.0 622.8 619.6
        3.1 Trade Credits 123.3 123.7 125.9 130.9 135.1
        3.2 Loans 215.0 221.9 224.9 239.8 241.0
        3.3 Currency and Deposits 149.3 154.8 160.6 164.1 165.7
        3.4 Other Liabilities 73.9 74.9 77.6 88.0 77.8
    of which:          
    Special drawing rights (Net incurrence of liabilities) 22.2 21.9 21.8 22.4 21.6
    Memo Item: Assets to Liability ratio (%) 73.1 74.1 74.1 76.0 74.7
    Notes (applicable for all tables):
    1. P: Provisional; PR: Partially Revised.
    2. The sum of the constituent items may not add to the total due to rounding off.
    Table 2: Composition of International Financial Assets and Liabilities of India
    (per cent)
    Period Dec-23 (PR) Mar-24 (PR) Jun-24 (PR) Sep-24 (PR) Dec-24 (P)
    A. Assets
        1. Direct Investment 23.7 23.5 23.4 22.7 24.1
        2. Portfolio Investment 1.2 1.2 1.2 1.1 1.1
        3. Other Investment 12.8 12.8 13.4 13.1 15.8
        4. Reserve Assets 62.3 62.5 62.0 63.1 59.0
    Total 100.0 100.0 100.0 100.0 100.0
    B. Liabilities
        1. Direct Investment 39.3 38.9 39.0 37.7 38.0
        2. Portfolio Investment 19.7 19.8 19.5 20.0 19.1
        3. Other Investment 41.0 41.3 41.5 42.3 42.9
    Total 100.0 100.0 100.0 100.0 100.0
    Table 3: Share of External Debt and Non-Debt Liabilities of India
    (per cent)
    Period Dec-23 (PR) Mar-24 (PR) Jun-24 (PR) Sep-24 (PR) Dec-24 (P)
    Non-Debt Liabilities 48.8 48.3 48.0 47.1 46.4
    Debt Liabilities 51.2 51.7 52.0 52.9 53.6
    Total 100.0 100.0 100.0 100.0 100.0

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: Success at the 2025 Local Government Awards!

    Source: Northern Ireland City of Armagh

    Councils throughout Northern Ireland celebrated as the ten award winners of the 2025 Local Government Awards were announced at an event hosted by Barra Best at the Game of Thrones Studio in Banbridge last night (Thursday 27 March).

    Coordinated by the Northern Ireland Local Government Association (NILGA), the awards ceremony also marked the 10th anniversary of the newly established councils and the evolving role of councillors, who are vital in advocating and delivering for their communities and the wider region.

    This year’s awards attracted 69 entries and were designed to celebrate the exceptional efforts of councils in their communities. They highlighted the innovative service provision, new initiatives, and the personal commitment of councillors, local government staff, and local government partners.

    The award categories focused on showcasing the dedication, hard work, and creative approaches that local councils demonstrate daily, while also creating opportunities for local government staff and elected members to shine.

    Armagh City, Banbridge and Craigavon Borough Council collected two awards on the night.

    Food Heartland took home the award for ‘Best Outcome of the Past Decade Award.’ This council-led initiative connects farmers, food producers and chefs across the borough to work collaboratively to foster a vibrant food culture and showcase the region’s exceptional culinary offerings.

    Local Government Awards 2025. Best Outcome of the Past Decade Award. Winner: Food Heartland – Armagh City, Banbridge & Craigavon Borough Council. The award was presented by Jonathon Carr West, CEO, LGiU.

    ABC Place Plans, which helps to empower communities, promotes collaboration and integrates sustainability to strengthen civic pride, enhance wellbeing and ensure long-term prosperity and resilience of our towns and cities, won the ‘Innovative Planning for the Future Award.’

    Local Government Awards 2025. Innovative Planning for the Future Award Winner: ABC Place Plans – Armagh City, Banbridge and Craigavon Borough Council. The award was presented by Stephanie Singer, Director, Quadra Consulting.

    NILGA President, Cllr Alison Bennington stated, “Councils across Northern Ireland are committed to enhancing the communities they serve while also supporting broader government and civic initiatives. Our councils undertake valuable work and dedicate time and resources to modernise and improve their areas for local communities, businesses, and visitors, as well as for wider government and civic society.

    “The Local Government Awards are a testament to these services and provide benchmarks for broader government. They offer fantastic learning tools for councils in an environment where every penny and resource counts.

    “We can improve by learning from the best. This is a passion of NILGA, which is evident in each of our ambitious and resourceful councils. Congratulations to our winners and finalists and thank you to everyone who took the time to nominate and support the 2025 Local Government Awards.”

    Celebrating a “Decade of Achievement” for Northern Ireland’s councils, Communities Minister Gordon Lyons said “Councils play a central role in delivering a wide range of services and in helping to develop and grow the local economy – making life better for all our citizens.

    The Minister continued, “Councils have made significant progress, taking on planning responsibilities, introducing Community Planning, and working in partnership with central government to develop and deliver City and Growth Deals. This has brought decision-making closer to local communities, ensuring services are tailored to meet specific needs. Local councils have also driven economic regeneration by partnering with businesses, investing in infrastructure, and promoting tourism. Initiatives like Labour Market Partnerships and the £1 billion investment in City and Growth Deals are creating jobs, boosting entrepreneurship, and enhancing connectivity.”

    APSE Chief Executive Mo Baines remarked, “Across local government, day in and day out, our unsung frontline heroes go above and beyond to deliver for their local communities. The Local Government Awards highlight their commitment to the goals of continuous improvement and excellence in public services. From maintaining beautiful parks and managing waste collection to attracting businesses and promoting arts, culture, and leisure, it is a privilege to recognise the fantastic work that local councils do on the front lines.”

    The awards cover ten categories, with sponsor partners and support bodies including agendaNi, the Association for Public Service Excellence (APSE), CCLA Good Investment, Greenwich Leisure Limited (GLL), Hays Recruitment, the Local Government Information Unit (LGiU), the Local Government Staff Commission (LGSC), Quadra Consulting, the Small Business Research Initiative (SBRI), and the William Johnston Memorial Trust (WJMT).

    Also shortlisted for the awards were the Inclusive ABC Initiative (Local Government Equality, Diversity and Inclusion Award), Council-wide Quality Management System (Best Use of Data and Technology Award) and ABC Safeguarding Officer, Gary Scott (Employee of the year).

    Click here for a full list of the winners.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Alexander Novak held a meeting on improving the investment climate in the North Caucasus Federal District

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Deputy Prime Minister Alexander Novak held a meeting at the Government Coordination Center on improving the investment climate in the constituent entities of the Russian Federation that are part of the North Caucasus Federal District. The meeting was attended by Minister of Economic Development Maxim Reshetnikov, Minister of Construction and Housing and Utilities Irek Fayzullin, Minister of Energy Sergey Tsivilev, representatives of federal executive bodies, heads and representatives of constituent entities that are part of the North Caucasus Federal District, representatives of development institutions, investment banks, as well as PJSC Gazprom, OOO Gazprom Mezhregiongaz, PJSC Rosseti, JSC Kavkaz.RF, JSC Rosagroleasing, etc.

     

    “One of the tasks set by the President is to achieve the national goal of a sustainable, dynamic economy. A national project has been formed, the goals of which also include ensuring investment growth by 60% by 2030. Of course, the regions will play a decisive role in solving this problem: the quality of work with businesses, the effectiveness of investments and the speed of project implementation depend on them. Let me remind you that, based on the results of last year, very good results were achieved in terms of investment growth rates – plus 7.4%, in 2023 the growth was 9.8%. In total, this is almost 20% of accumulated growth,” said Alexander Novak, opening the meeting.

    The Deputy Prime Minister emphasized the significant role of investment activity in the North Caucasus in achieving the national goal of investment growth. “The Federal District demonstrates historical leadership in core non-resource industries, including light industry and the agricultural sector. The infrastructure and transport and logistics potential of the district serve as the basis for reorienting the country’s foreign economic activity from the West to the South. In the North Caucasus Federal District, as in other regions of Russia, private investment plays a key role – it should become the main driver of growth. The priority task is to create favorable conditions through various formats of investor support, including risk sharing, access to long-term money and improvement of the administrative and legal environment,” said the Deputy Prime Minister.

    He named three main areas of work in the North Caucasus Federal District.

    The first is the creation of institutional conditions at the local level by introducing a regional investment standard. This work needs to be expanded from the federal and regional to municipal levels. The next stage should be a systemic restart of work to improve the investment climate. To this end, on the instructions of the President, the Ministry of Economic Development, together with the Agency for Strategic Initiatives, is forming a national business model.

    The second direction is related to the replication and fine-tuning of federal support instruments. The project financing factory, mechanisms of agreements on the protection and encouragement of capital investments are in demand. An important instrument for attracting investment to the regions are special economic zones and PPP mechanisms, infrastructure instruments and targeted support measures.

    The third block of work should be aimed at increasing the investment attractiveness of the subjects of the North Caucasus Federal District – solving issues related to the specifics of the regions. In this direction, it is necessary to solve the problems of increasing the activity of credit institutions, as well as trust in investors implementing projects in the Caucasus. Regions need to work more actively to bring business out of the shadows.

    Minister of Economic Development Maxim Reshetnikov and Minister of Energy Sergey Tsivilev reported on the achievements in the field of breakthrough investment projects in the Caucasus and on the progress of the implementation of programs for the modernization of the energy infrastructure of the North Caucasus Federal District. In order to ensure sufficient power supply capacity for the population and industry, the task was set to combat illegal cryptocurrency mining in the region.

    According to the Minister of Construction and Housing and Utilities Irek Faizullin, the collection of payments for housing and utilities services in the North Caucasus Federal District remains low: in a number of regions it does not exceed 43%. He also paid special attention to the problems of accidents in heating networks, the need to update the water disposal infrastructure and compliance with the deadlines and quality of construction of infrastructure facilities in the housing and utilities sector, etc.

    Following the meeting, Alexander Novak instructed the authorities of the North Caucasus Federal District regions to actively engage in targeted work with businesses, inform entrepreneurs and SMEs about available opportunities, including new government support measures. The Agency for Strategic Initiatives, together with the Ministry of Economic Development, was instructed to introduce indicators for assessing the use of government support measures in the North Caucasus Federal District, as well as to work out the launch of new programs together with development institutions and investment banks, taking into account the existing experience of applying support measures for breakthrough investment projects.

    The Deputy Prime Minister paid special attention to the need to bring the collection rates for energy supply, gas and housing and communal services to the level of the Russian average. To this end, he instructed to implement the best available practices and tools for improving payment discipline used in the leading regions of Russia, including those subjects of the North Caucasus Federal District where the collection rate exceeds 98%. The regions should exchange information with each other on the use of such practices. Gazprom, together with regional authorities, was instructed to consolidate abandoned networks in order to minimize gas losses in them, and to monitor work to prevent emergency situations. Rosseti will have to analyze the implementation of the Rosseti North Caucasus program of measures to reduce losses in power grids, as well as analyze their investment program to determine measures to develop regional energy systems.

    At the end of the meeting, Alexander Novak invited representatives of federal and regional executive authorities, as well as representatives of development institutions, banks and businesses to take part in the Caucasus Investment Forum, which will be held in the city of Mineralnye Vody in Stavropol Krai on May 25–27. The Deputy Prime Minister called the forum an important discussion platform that helps increase the investment attractiveness of the region. “Last year, 100 agreements worth more than 106 billion rubles were signed at the forum, including 7 agreements with foreign companies. Therefore, I count on your active participation in the forum, as well as companies and partners from your regions,” said Alexander Novak.

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

    MIL OSI Russia News –

  • MIL-OSI: Top Producing Branch Manager Ted Edginton Joins Rate in Bloomfield Hills, MI

    Source: GlobeNewswire (MIL-OSI)

    BIRMINGHAM, Mich., March 28, 2025 (GLOBE NEWSWIRE) — Rate, a leader in fintech mortgage solutions, today announced the addition of Ted Edginton as its new Producing Branch Manager in Bloomfield Hills, Michigan. With over 22 years of career experience as a senior loan officer, Edginton has a track record of success, industry knowledge, and a client-first approach to Rate’s team.

    Edginton joins Rate after over two decades with U.S. Bank, where he built a reputation for top-tier service and consistent production. Recognized for his high volume and unit production year after year, he has been a member of the President’s Circle and Legends of Possible since 2008.

    “My team and I made a strategic move to Rate because of the strength of its product offerings and focus on the client experience,” said Edginton. “With Rate’s platform, I can serve my clients faster, more efficiently, and with more options tailored to their needs with less stress. I’m excited to bring this level of service to even more people in my community.”

    Known for his commitment to service, Edginton prides himself on being accessible to clients, outlining a clear path to the finish line, and treating every borrower like family. His expertise spans a wide range of products, including VA, FHA, Construction-Perm/Rehab, Reverse, Physician, programs for the self employed, and other unique Portfolio Loans.

    “We’re all very excited to welcome Ted to the Rate team,” said Jeff Nelson, Chief Production Officer-East at Rate. “His expertise and success are a wonderful addition to a great Rate family.”

    Beyond his professional accomplishments, Edginton is actively involved in the local community, including the Greater Metropolitan Association of Realtors (GMAR) in Southeast Michigan and the Michigan Realtors Association. He also was the first non-Realtor inducted into the Realtor Hall of Fame in Washinton D.C. and is continually recognized in Hour Magazine as an annual Mortgage All Star. His dedicated engagement reinforces his strong referral network and commitment to supporting local agents and clients.

    With this move, Rate continues to expand its footprint in Michigan, focusing on personalized service, powerful products, and a team of trusted experts like Edginton.

    About Rate

    Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, Rate has over 850 branches across all 50 states and Washington D.C. Since its launch in 2000, Rate has helped more than 2 million homeowners with home purchase loans and refinances. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates, and delivering unparalleled customer service. Honors and awards include: Top 5 Mortgage Lender by Inside Mortgage Finance for 2024; Best Mortgage Lender for First-Time Homebuyers by NerdWallet for 2023; HousingWire’s Tech100 award for the company’s industry-leading FlashClose℠ digital mortgage platform in 2020, MyAccount in 2022, and Language Access Program in 2023; the most Scotsman Guide Top Originators for 11 consecutive years; Chicago Agent Magazine’s Lender of the Year for seven consecutive years; and Chicago Tribune’s Top Workplaces list for seven straight years. Visit rate.com for more information.

    Press Contact

    press@rate.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f5d5241a-e42d-4056-96eb-25926084c7ec

    The MIL Network –

  • MIL-OSI USA: BRADFORD COUNTY – Lt. Gov. Austin Davisto Highlight 2025-26 Proposed Budget Investments in Safer Communities

    Source: US State of Pennsylvania

    March 28, 2025 – Towanda, PA

    ADVISORY – BRADFORD COUNTY – Lt. Gov. Austin Davis
    to Highlight 2025-26 Proposed Budget Investments in Safer Communities

    Lt. Gov. Austin Davis will discuss the Shapiro-Davis Administration’s proposed 2025-26 budget and its investments to make Pennsylvania communities safer Friday, March 28, at 11 a.m. at Supporting Area Families Everyday (SAFE), 861 Golden Mile Rd., Towanda.

    The Pennsylvania Commission on Crime and Delinquency, which Davis leads, recently approved $45 million in Violence Intervention and Prevention (VIP) grants. This program supports a wide range of models focused on reducing community violence and relies on community groups that are most in tune with specific local needs. SAFE is receiving more than $125,000 to expand its Supervised Visitation and Parent Education Program.

    The proposed 2025-26 budget includes a $10 million increase for the VIP program, as well as $10 million more for the Building Opportunity through Out-of-School Time initiative, which provides funding for afterschool programs that help keep kids safe and give them enrichment opportunities.

    WHO:
    Lt. Gov. Austin Davis
    state Rep. Tina Pickett
    Bradford County Commissioner Zachary Gates
    Towanda Mayor Garrett Miller
    Representatives from SAFE and the Abuse and Rape Crisis Center

    WHAT:
    News conference to discuss how the Shapiro-Davis Administration’s proposed state budget will help make Pennsylvania communities safer

    WHEN:
    Friday, March 28, 11 a.m.

    WHERE:
    Supporting Area Families Every day
    61 Golden Mile Rd., Towanda

    RSVP:
    Members of the news media who are interested in attending must RSVP to Kirstin Alvanitakis at kirstinalv@pa.gov.

    MIL OSI USA News –

  • MIL-OSI Africa: KZN champions local economic growth

    Source: South Africa News Agency

    Friday, March 28, 2025

    KwaZulu-Natal Premier, Thamsanqa Ntuli, has reaffirmed the provincial government’s commitment to support initiatives that drive local economic transformation and attract investors to the province.

    Ntuli was speaking at the Nquthu Investment Promotion Breakfast, held at the iNcome Museum, in Inquthu under the uMzinyathi District Municipality, central KwaZulu-Natal.

    Thursday’s breakfast highlighted a wide range of investment opportunities aimed at unlocking the region’s potential in agriculture, tourism, infrastructure, and small business development.

    The engagement also underscored the provincial government’s support for local economic development and investor mobilisation in rural areas. The gathering brought together government leaders, local entrepreneurs, and potential investors for meaningful dialogue and strategic partnerships.

    The Premier commended the initiative, noting its alignment with the 7th Administration’s mission to drive inclusive economic growth, job creation, and sustainable development across KwaZulu-Natal.

    “We are intentional about taking investment conversations to every corner of our province, especially rural areas like iNquthu. By supporting platforms like this, we affirm our commitment to building a thriving, self-reliant economy that benefits all our people.”
    The Premier also emphasised the importance of local investment in transforming communities, reducing unemployment, and creating long-term prosperity.

    He also encouraged stakeholders to seize the opportunities presented by the region’s natural assets and resilient communities.
    The breakfast marked another step forward in the province’s vision of equitable development, where no region is left behind in the journey toward economic transformation.

    The Premier was accompanied by Agriculture and Rural Development MEC, Thembeni Madlopha-Mthethwa. – SAnews.gov.za 
     

    MIL OSI Africa –