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Category: Finance

  • MIL-OSI Europe: Almost €80 million in EU investment to modernise Cambodia’s agricultural sector and to boost farmers’ access to domestic and global markets

    Source: European Investment Bank

    • The comprehensive EU investment package – which blends an EIB Global loan, an EU grant, and technical assistance – will strengthen Cambodia’s agricultural sector, improve food security, make selected value chains more competitive and boost exports.
    • This investment will benefit 100 000 smallholder farmers, 25 000 land-poor households and 500 agricultural enterprises, enhancing productivity and competitiveness.
    • It will upgrade the National Agricultural Laboratory, expand key agricultural facilities to enhance the country’s sanitary and phytosanitary capacities, and support the construction of the Kaoh Khsach Tonlea bridge to improve transport and market access.
    • This initiative is in line with the European Union’s Global Gateway strategy, promoting sustainable growth, climate resilience and inclusive economic development.

    EIB Global – the European Investment Bank’s global arm – and the Ministry of Economy and Finance (MEF) of the Kingdom of Cambodia have signed an agreement today for a €15 million EU grant to support the Agriculture Services Programme for an Inclusive Rural Economy and Agricultural Trade (ASPIRE-AT). A key priority for the Cambodian government, ASPIRE-AT aims to modernise the agricultural sector, enhance food security and strengthen export potential. This grant supplements a €60 million loan from EIB Global and €4.5 million of support from the European Union for technical assistance, which will be implemented by the European Investment Bank (EIB). This brings the total of EU-backed investment in the programme to nearly €80 million. The International Fund for Agricultural Development (IFAD), the UN’s rural development agency, is co-financing the programme with $49 million.

    The agreement was signed in Phnom Penh by Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth and EIB Vice-President Nicola Beer during her first visit to Cambodia as the EIB Vice-President responsible for Southeast Asia. The signing took place in the presence of EU Ambassador to Cambodia Igor Driesmans and Country Director for Cambodia at the International Fund for Agricultural Development (IFAD) Frew Behabtu.

    The EU financing will help modernise Cambodia’s agricultural sector, equipping smallholder farmers, agribusinesses and producer organisations with tools and infrastructure to boost production, provide access to new markets, and improve food safety. The project will directly benefit 100 000 smallholder farmers and 25 000 land-poor households, creating new income opportunities – particularly in rural areas – with a strong focus on empowering women, engaging young people and supporting indigenous communities.

    EIB Vice-President Nicola Beer said: “The European Investment Bank is proud to support ASPIRE-AT and Cambodia’s agricultural sector, which plays a vital role in the country’s economy and food security. With this financing, we are helping the government to strengthen food security, increase farmers’ incomes, and open up new market opportunities for Cambodian products. It is a great example of how Team Europe delivers real impact, creating jobs, driving trade, and strengthening Cambodia’s economy.”

    Ambassador of the European Union to the Kingdom of Cambodia Igor Driesmans said: “I am proud to be part of this important agricultural investment project by partnering with our European Investment Bank and IFAD under the European Union Global Gateway and our Team Europe initiatives. Our support of €19.5 million ($21.06 million) in grants will help farmers and their communities improve primary production, processing capabilities and market access through capacity building and access to financing, agricultural laboratory support, and better rural and urban connectivity. Together, we are helping the sector to become more inclusive and resilient, benefiting all Cambodians, and especially those in rural communities.”

    Deputy Prime Minister and Minister of Economy and Finance (MEF) Aun Pornmoniroth expressed his deep appreciation to the EIB, the European Union and to IFAD for their support and cooperation in successfully designing and preparing the ASPIRE-AT programme. He reiterated that the agreement signed today for the ASPIRE-AT programme is a testament to the increased and closer cooperation between the Government of the Kingdom of Cambodia and the EIB, the European Union and IFAD, as well as to the unwavering support of key development partners in the reform agenda of the government’s Pentagonal Strategy (Phase I), as Cambodia aims to achieve its goal of becoming an upper-middle-income country in 2030 and a high-income country in 2050. In this spirit, the Government of the Kingdom of Cambodia reaffirmed its commitment to fostering and strengthening future partnerships with the EIB, the European Union and IFAD across multifaceted sectors.

    International Fund for Agricultural Development (IFAD) Country Director for Cambodia Frew Behabtu said: “This significant EU grant, alongside the EIB loan and IFAD’s co-financing, marks a powerful step towards transforming Cambodia’s agricultural sector. IFAD is proud to be part of this collaborative effort to empower rural communities, enhance food security, and unlock the export potential that drives sustainable economic growth.”

    This investment will strengthen Cambodia’s agricultural infrastructure and market connectivity, supporting collection and handling facilities, warehouses, drying pads, and access roads to improve bulk produce transport. It will also fund the Kaoh Khsach Tonlea bridge, linking the island to the mainland to enhance market access and pilot a new agricultural cooperative model. Additionally, the financing will improve food safety and quality control by supporting laboratories, research and quarantine stations and the expansion of the National Agricultural Laboratory. These investments are strategically distributed across a range of locations in Cambodia, ensuring that they have a broad geographic impact and enable greater integration into regional and global markets.

    Background information

    About EIB Global

    EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices around the world.

    About the EIB in Cambodia

    Since 2018, EIB Global has been a key partner in Cambodia’s sustainable development, investing €310 million across various sectors, including in water and agriculture, as well as to rehabilitate rural roads. In close collaboration with the Delegation of the European Union to the Kingdom of Cambodia, the Royal Government of Cambodia, and other development partners, the EIB supports projects that foster economic growth, enhance environmental sustainability, and improve living standards. The Bank’s investments focus on clean water access, rural infrastructure, climate-resilient agriculture and food security. These initiatives have expanded irrigation systems, upgraded rural roads, and strengthened agricultural value chains, directly benefiting millions of Cambodians by creating new economic opportunities and building resilience in local communities.

    The Agriculture Services Programme for an Inclusive Rural Economy and Agricultural Trade (ASPIRE-AT) is an initiative of the Cambodian government – implemented by the Ministry of Agriculture, Forestry, and Fisheries (MAFF) – that is aimed at reducing rural poverty and enhancing climate resilience in Cambodian households. Building on the success of the previous ASPIRE programme (2015-2022), ASPIRE-AT focuses on sustainable agricultural growth by providing small-scale producers with productive assets, fostering business partnerships, and improving market access. The programme targets 125 000 rural households, emphasising inclusivity with at least 50% of beneficiaries being women, 20% young people and 1.5% indigenous people.

    The International Fund for Agricultural Development (IFAD) is an international financial institution and a United Nations specialized agency. Based in Rome – the United Nations food and agriculture hub – IFAD invests in rural people, empowering them to reduce poverty, increase food security, improve nutrition and strengthen resilience. Since 1978, we have provided more than US$25 billion in grants and low-interest loans to fund projects in developing countries.

    MIL OSI Europe News –

  • MIL-OSI Europe: EIB provides €160 million to support micro, small and medium-sized enterprises in Tuscany

    Source: European Investment Bank

    • Tuscany Region President Eugenio Giani and EIB Vice-President Gelsomina Vigliotti launched the operational phase of the initiative at an event in Florence today.
    • Subsidies will be applied to loans granted to micro, small and medium-sized enterprises by banks selected by the Tuscany region.
    • The funds will be channelled through Banca Monte dei Paschi di Siena, Banca Cambiano, Cambiano Leasing and BCC Banca Iccrea to 12 cooperative banks in Tuscany that are members of BCC Iccrea Group and Federazione Toscana delle BCC.

    The European Investment Bank (EIB) has approved a €160 million financing package for the Tuscany region, aiming to back the investments and the working capital needs of micro, small and medium-sized enterprises in Tuscany. Tuscany Region President Eugenio Giani and EIB Vice-President Gelsomina Vigliotti launched the operational phase of the initiative at the Palazzo Strozzi Sacrati in Florence today.

    In addition to the €160 million already planned, the region will provide a further €10 million to cut the interest paid by micro, small and medium-sized enterprises in Tuscany. The 321 companies selected in the 2023 research and development calls will be able to access the EIB credit line from 17 March by confirming the option exercised in the application to finance their investments in productive activities, research, innovation and working capital.

    Subsidies will be applied to loans granted to micro, small and medium-sized enterprises by banks selected by the Tuscany region in a recently issued public call. It will also be possible to obtain a refund of any guarantees. The banks involved are Banca Monte dei Paschi di Siena, Banca Cambiano, Cambiano Leasing and BCC Banca Iccrea, benefiting 12 cooperative banks in Tuscany that are members of BCC Iccrea Group and Federazione Toscana delle BCC.

    “This agreement confirms the EIB’s support for Italian business, helping to promote the sustainable development and long-term competitiveness of micro, small and medium-sized enterprises in Tuscany,” said EIB Vice-President Gelsomina Vigliotti.

    Tuscany Region President Eugenio Giani and Regional Councillor for Economy and Tourism Leonardo Marras explained: “We want to improve the competitiveness of our micro, small and medium-sized enterprises by backing their productive investment in expansion, diversification, system consolidation and the green, technological and digital transition. Micro, small and medium-sized enterprises are the backbone of the regional productive system in Tuscany. The calls we have just published will enable them to reduce the interest rates and guarantee premiums on bank loans granted from the EIB’s Regione Toscana EU Blending 2023-0118 credit line. We will provide them with an additional €30 million from the European Regional Development Fund, €3 million of which will be reserved for companies based in inner areas.”

     

     

     

    Technical details

    The beneficiaries of this operation are micro, small and medium-sized enterprises in several sectors including manufacturing, tourism and research and development. See here for specific limitations. Subsidy applications must be submitted online via the Sistema Fondi Toscana IT system here and will be assessed by Sviluppo Toscana. Applications can be submitted until the available funds are exhausted. The total cost of the projects presented must not be less than €70 000 (€90 000 for research and development calls) or more than €5 million. Interest rate reduction subsidies are provided in a single instalment covering up to 80% of the amount for financing investment projects and up to 90% for financing projects contributing to climate action.

    The maximum interest rate subsidy for new calls for productive investments may not exceed €300 000 per project. Within five months of submitting the subsidy application, the company must provide documentation certifying the granting of the bank loan and the related guarantee to receive the financing. Guarantees costs can be reimbursed by the Tuscany region up to a maximum of €12 000.

    Once financing is secured, they will have 15 months to complete their investment project.

    Background information

    EIB

    The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. The EIB Group signed 99 operations totalling €10.98 billion in Italy in 2024, unlocking almost €37 billion of investment in the real economy. All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment. Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    • Tuscany Region President Eugenio Giani and EIB Vice-President Gelsomina Vigliotti launched the operational phase of the initiative at an event in Florence today.
    • Subsidies will be applied to loans granted to micro, small and medium-sized enterprises by banks selected by the Tuscany region.
    • The funds will be channelled through Banca Monte dei Paschi di Siena, Banca Cambiano, Cambiano Leasing and BCC Banca Iccrea to 12 cooperative banks in Tuscany that are members of BCC Iccrea Group and Federazione Toscana delle BCC.

    The European Investment Bank (EIB) has approved a €160 million financing package for the Tuscany region, aiming to back the investments and the working capital needs of micro, small and medium-sized enterprises in Tuscany. Tuscany Region President Eugenio Giani and EIB Vice-President Gelsomina Vigliotti launched the operational phase of the initiative at the Palazzo Strozzi Sacrati in Florence today.

    In addition to the €160 million already planned, the region will provide a further €10 million to cut the interest paid by micro, small and medium-sized enterprises in Tuscany. The 321 companies selected in the 2023 research and development calls will be able to access the EIB credit line from 17 March by confirming the option exercised in the application to finance their investments in productive activities, research, innovation and working capital.

    Subsidies will be applied to loans granted to micro, small and medium-sized enterprises by banks selected by the Tuscany region in a recently issued public call. It will also be possible to obtain a refund of any guarantees. The banks involved are Banca Monte dei Paschi di Siena, Banca Cambiano, Cambiano Leasing and BCC Banca Iccrea, benefiting 12 cooperative banks in Tuscany that are members of BCC Iccrea Group and Federazione Toscana delle BCC.

    “This agreement confirms the EIB’s support for Italian business, helping to promote the sustainable development and long-term competitiveness of micro, small and medium-sized enterprises in Tuscany,” said EIB Vice-President Gelsomina Vigliotti.

    Tuscany Region President Eugenio Giani and Regional Councillor for Economy and Tourism Leonardo Marras explained: “We want to improve the competitiveness of our micro, small and medium-sized enterprises by backing their productive investment in expansion, diversification, system consolidation and the green, technological and digital transition. Micro, small and medium-sized enterprises are the backbone of the regional productive system in Tuscany. The calls we have just published will enable them to reduce the interest rates and guarantee premiums on bank loans granted from the EIB’s Regione Toscana EU Blending 2023-0118 credit line. We will provide them with an additional €30 million from the European Regional Development Fund, €3 million of which will be reserved for companies based in inner areas.”

     Technical details

    The beneficiaries of this operation are micro, small and medium-sized enterprises in several sectors including manufacturing, tourism and research and development. See here for specific limitations. Subsidy applications must be submitted online via the Sistema Fondi Toscana IT system here and will be assessed by Sviluppo Toscana. Applications can be submitted until the available funds are exhausted. The total cost of the projects presented must not be less than €70 000 (€90 000 for research and development calls) or more than €5 million. Interest rate reduction subsidies are provided in a single instalment covering up to 80% of the amount for financing investment projects and up to 90% for financing projects contributing to climate action.

    The maximum interest rate subsidy for new calls for productive investments may not exceed €300 000 per project. Within five months of submitting the subsidy application, the company must provide documentation certifying the granting of the bank loan and the related guarantee to receive the financing. Guarantees costs can be reimbursed by the Tuscany region up to a maximum of €12 000.

    Once financing is secured, they will have 15 months to complete their investment project.

    Background information

    EIB

    The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. The EIB Group signed 99 operations totalling €10.98 billion in Italy in 2024, unlocking almost €37 billion of investment in the real economy. All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment. Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    MIL OSI Europe News –

  • MIL-OSI Global: Keir Starmer to abolish NHS England – the pros and cons

    Source: The Conversation – UK – By Peter Sivey, Reader in Health Economics, Centre for Health Economics, University of York

    The UK government has announced the abolition of NHS England, phased over two years. In practice, this will involve merging some functions and staff from NHS England into the Department for Health and Social Care (DHSC). As part of the change, the government has stated that it expects to reduce duplication and save hundreds of millions of pounds.

    NHS England was established under the Health and Social Care Act of 2012 (the Lansley reforms) and is responsible for commissioning care and overseeing the day-to-day running of the NHS. This involves negotiating budgets for local care provision with bodies like integrated care boards and hospitals; performance management such as monitoring waiting times and quality measures; and implementing national initiatives across NHS organisations.

    NHS England was established to provide operational autonomy, shielding the health service from daily political interference. It is an “arm’s-length body”, meaning it operates independently from the government but remains accountable to it. The DHSC sets strategic goals and oversees NHS England activities.

    In practice, NHS England and DHSC have distinct roles, although they overlap in some areas. DHSC staff typically have broader policy expertise – for example, many have worked in other areas of the civil service, whereas NHS England staff often have more detailed knowledge of how the NHS works on the ground.

    Risks

    The loss of expertise within NHS England is probably the largest risk of the abolition. Alongside very experienced NHS managers and analysts, NHS England employs senior doctors and other health care workers who contribute valuable practical knowledge from the NHS frontline into policy roles.

    A major risk of this move is the potential loss of this clinical expertise and operational insight into policymaking. Lord Darzi’s report on the NHS specifically cited the loss in management talent that occurred as a result of the 2012 reforms, and cautioned against further reorganisation that might repeat that disruption.

    Another risk is that bringing NHS England functions directly under ministerial control risks increased politicisation of day-to-day NHS management.

    The government will argue that other policy areas like defence, education and policing do not have such a large arm’s-length body between the department and the frontline. However, health and social care is a uniquely large (11% of GDP) and highly political organisation, with a fast-growing budget and faster-growing challenges.

    NHS policy is already highly politicised, but abolishing NHS England risks the DHSC and the ministers being on the hook for every operational decision. This could lead to operational decisions being made to appease public opinion rather than promoting public health.

    The government faces significant practical challenges in merging two organisations with different cultures, working practices and pay structures. Currently, NHS England (about 16,000 staff) is much larger than DHSC (about 3,000 staff). Many NHS England roles will have to move into the much smaller DHSC.

    The transition itself will require investment, so the promised savings are unlikely to be achieved in the short term.

    Opportunities

    The main opportunity of the abolition is the removal of duplication between DHSC and NHS England.

    Currently, both organisations maintain separate policy teams covering similar areas – for example, elective surgery waiting times or cancer care. And sometimes, it is unclear how well they work together or why both are necessary.

    By consolidating within the DHSC, there is an opportunity to strengthen policy analysis. With one strong policy team in the DHSC, policy advice to ministers (DHSC) and policy implementation on the ground (previously NHS England) could be better coordinated and aligned with the government’s objectives.

    Lord Darzi’s report on the NHS highlighted the growth of regulatory roles within NHS England, questioning whether too much accountability could be counterproductive.

    The abolition of NHS England is also an opportunity to streamline regulation while strengthening local management roles and valuable policy analysis.

    Another opportunity from the abolition of the organisation would be the strengthening of local NHS bodies like integrated care boards. These local bodies, designed to tailor healthcare to local area needs, may sometimes have been stymied by excessive central control.

    The health secretary, Wes Streeting, has already expressed his desire to see more devolution of power and responsibility within the NHS. This process provides the opportunity to enact that promise.

    What will happen next?

    The abolition of NHS England and the transfer of some responsibilities back to the DHSC will take time and incur significant costs and disruption. Any benefits are likely to emerge only in the long term.

    Before the introduction of NHS England, there were larger regional organisations (strategic health authorities) that were responsible for implementing policy at a regional level. Perhaps the re-emergence of similar regional bodies could smooth the transition from a central NHS England to a more decentralised health service.

    Peter Sivey receives funding from the National Institute for Health and Care Research.

    – ref. Keir Starmer to abolish NHS England – the pros and cons – https://theconversation.com/keir-starmer-to-abolish-nhs-england-the-pros-and-cons-252237

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: UK and China restart meaningful climate change dialogue

    Source: United Kingdom – Government Statements

    Press release

    UK and China restart meaningful climate change dialogue

    Energy Secretary calls for action and cooperation from China to tackle the climate emergency.

    • Energy Secretary visits Beijing to urge continued action from China – the world’s biggest emitter – to tackle the climate emergency   
    • Miliband expected to say there is no route to keeping future generations safe from climate threat without engaging China in responsible climate leadership
    • UK and China agree to secure and pragmatic cooperation and lesson sharing on climate and clean energy – delivering on government’s Plan for Change to re-engage with China on issues that matter to the British people

    Pragmatic cooperation with China will help keep British people safe from the climate crisis, as UK and Chinese ministers are set to meet in Beijing for the first formal talks to accelerate climate action in nearly 8 years.  

    As the government pursues its mission to become a clean energy superpower under the Plan for Change, The Energy Secretary will meet with China’s National Energy Administrator Minister Wang Hongzhi and China’s Ecology and Environment Minister Huang Runqiu in Beijing to commit to pragmatic engagement on the climate crisis, cooperating with China to reduce global emissions. 

    The UK is expected to launch a formal Climate Dialogue with Chinese counterparts, inviting Chinese ministers to London later this year, and for the first time institutionalising climate change talks between both countries moving forward. 

    China is the world’s largest investor and supplier of renewable energy but it remains the world’s largest emitter responsible for more emissions than the US, EU, India, and UK combined. China’s contribution to climate action is therefore crucial to tackling one of the biggest global challenges the world faces.   

    The Energy Secretary will also use the visit to engage frankly with China on UK concerns on issues like forced labour in supply chains, human rights and freedoms in Hong Kong, and China’s ongoing support for Russia’s illegal invasion of Ukraine.  

    The climate crisis is an existential threat to our way of life in Britain. Extreme weather is changing the lives of people and communities across country; from thousands of acres of farmland being submerged due to storms like Bert and Daragh, to record numbers of heat-related deaths in recent summers. In turn, China are feeling the effects with temperatures in Beijing remaining above 35°C for a record breaking 28 days last year.  

    The government’s Plan for Change is restoring the UK’s role as a responsible climate leader, and re-engaging with the world’s second largest economy will remain critical in delivering both climate and energy security for Britain and across the world.   

    Energy Secretary Ed Miliband said:  

    We can only keep future generations safe from climate change if all major emitters act. It is simply an act of negligence to today’s and future generations not to engage China on how it can play its part in taking action on climate. 

    That is why I will be meeting Chinese ministers for frank conversations about how both countries can fulfil the aims of the Paris Climate Agreement, to which both countries are signed up.  

    Our Plan for Change and clean energy superpower mission is about energy security, lower bills, good jobs and growth for the British people. It is with this mission that we can also influence climate action on a global stage, fight for our way of life and keep our planet safe for our children and grandchildren.

    The Energy Secretary will refresh an outdated 10-year-old UK Clean Energy Partnership with China – which will now provide clarity on areas where the UK government can securely collaborate with China on areas of mutual benefit – such as new emerging technologies, including hydrogen and carbon capture and storage. The UK will also share expertise on phasing out coal, having closed its last coal-fired power station last year.

    This will establish a formal agreed platform with China to engage with them on potential UK and global energy security concerns, and creating a channel to challenge them on areas where we disagree, such as forced labour in supply chains.

    This further boosts already robust national security controls in our critical infrastructure such as the National Security and Investment Act – providing a strengthened mechanism to protect the UK’s national security, which is the first duty of government.

    This is part of the government’s commitment to a long-term, strategic and pragmatic relationship with China, rooted in UK and global interests – cooperating where we can, competing where we need to, and challenging where we must. 

    As an open economy, the UK welcomes investment from a wide range of countries and investors on the basis is supports the UK’s mission for growth securely and pragmatically. The government will not hesitate to use established powers to protect national security in energy infrastructure whenever concerns are identified. These discussions complement the government’s mission to make Britain a clean energy superpower, delivering energy security and bringing down bills for good. The expected rise in the price cap shows once again the cost of remaining reliant on the unstable global fossil fuel markets that are driving price increases. 

    Three years on from Russia’s invasion of Ukraine, wholesale gas prices have now risen by 15% compared to the previous price cap period, which is directly affecting the cost of generating power and heating of homes. Moving to a power system based on homegrown, clean energy will reduce the UK’s reliance on volatile markets and protect billpayers.  

    To achieve this, government has set out the most ambitious reforms of the UK’s energy system in a generation. Within its first eight months in office, the government has lifted the onshore wind ban, established Great British Energy, approved nearly 3GW of solar, delivered a record-breaking renewables auction and kickstarted the carbon capture and hydrogen industries in the UK – helping to deliver energy security, grow the economy and deliver clean, cheap energy.    

    Notes to editors

    The last time an Energy Secretary visited Beijing for a formal climate and energy dialogue was in 2017. COP26 President Alok Sharma visited Tianjin in 2021 ahead of the COP26 summit in Glasgow.

    However, both our formal partnerships with China on climate and clean energy both date back to 2015. And this visit signals a shift in the dial in re-engaging with China and updating relationships in line with the current global landscape.

    Updates to this page

    Published 14 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Central Winchester Regeneration takes a major step forward

    Source: City of Winchester

    Central Winchester Regeneration (CWR) has taken a major step forward, following approval of the Development Delivery Plan and £4.5million capital grant of Community Infrastructure Levy (CIL).

    The Development Delivery Plan produced by ‘Jigsaw by Partnerships and Places’ – Winchester City Council’s ambitious delivery partner – was approved this week by the council’s Cabinet.

    The Plan sets out the project stages of this exciting regeneration programme and is supported by significant CIL investment to enable initial infrastructure works.

    Cllr Martin Tod, Leader and Cabinet Member for Asset Management, Winchester City Council, said:

    “Central Winchester Regeneration is a vital opportunity to bring new life to the heart of our city – new homes – new jobs – new businesses – and do so in a way that’s true to the city and true to today.  It’s a top priority for the council and the decisions we’ve taken are the last big step before we get to the planning application.

    The plan we’ve agreed lays out all the details of the delivery plan, infrastructure plan, public realm plan and phasing plan needed for Jigsaw to move ahead.  They’ve delivered to the demanding standards we set them.”

    Jigsaw by Partnerships & Places is a partnership between Genr8 Kajima Regeneration Limited (Kajima and Genr8 Developments) and igloo Regeneration with Thriving Investments (part of the Places for People group). The partnership is dedicated to optimising social and economic value by collaborating with local people and businesses throughout and beyond the duration of projects. 

    The Development Delivery Plan sets out how Jigsaw will design and deliver the scheme in line with the council’s development brief as specified in the formal Development Agreement. It also outlines how the Jigsaw team have spent the last year talking to local people and businesses from across the district to hear their views and aspirations for the site. 

    Matt Woolgar, Development Director at Partnerships & Places, said:

    “We are delighted to see the Development Delivery Plan approved and this vital regeneration project moving forward. We are passionate about creating places that truly reflect the needs and aspirations of local communities, and the extensive engagement over the past year has been invaluable in shaping our approach.

    “Together with our Jigsaw partners, working with Winchester City Council and the people of Winchester, we are committed to delivering a vibrant, sustainable, and inclusive development that enhances the city’s rich heritage while supporting its future prosperity.”

    Both Jigsaw and Winchester City Council are committed to engaging local people and businesses throughout the life of the project. The CWR project team has arranged another public information event on Wednesday 2 April 2025 from 6 – 7.30pm in The Wintonian Room at The Guildhall, Winchester. Everyone is welcome to attend.

    This event will give local people an opportunity to watch a brief presentation on the approved Development Delivery Plan, understand what happens next and meet members of the Project Team. To book your place, please complete our online form.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Green, growing and successful: latest numbers add up for Edinburgh

    Source: Scotland – City of Edinburgh

    Edinburgh remains one of the most prosperous and green places to live in the UK, according to findings collated by the City of Edinburgh Council. 

    The 18th annual Edinburgh by Numbers is based on data from a variety of sources including the ONS, National Records of Scotland and the Scottish Household Survey.

    Looked at together, the figures reveal that residents in the Scottish capital are 1.5 times more likely to take up cycling and running – with most (74%) able to enjoy local green spaces within a five minute walk from home.

    With 144 parks making up almost half of the city (49%), 92% of people surveyed are satisfied with local green spaces and Edinburgh has almost halved greenhouse gas emissions over the last decade (by 40.9% since 2012).

    Highlighting the city’s economic resilience, Edinburgh has retained its position as the UK’s most economically productive city outside of London with some of the highest wages, skilled workers and employment.

    Tourism continues to recover from the pandemic, with hotel occupancy rates at their highest in 6 years (81.4%) and 5 million visitors staying overnight in Edinburgh, and air and travel also rebounding.

    The city is growing almost three times faster than the rest of Scotland and house prices are valued at the highest in the country. In 10 years, our population has grown by 8.4% to 523,250 people but for the first time, fewer babies are being born.

    Further statistics reveal:  

    • Edinburgh’s weather is changing, with April to June now the wettest months
    • Finance leads Edinburgh’s local economy, generating £7.2 billion – that’s as much as the next three largest sectors combined
    • Satisfaction with public transport is very high at 86% of those surveyed, well above Scotland’s 64% average
    • There are more university students in Edinburgh than school pupils (together, they make up 161,000 of the population)
    • 75.8% of workers have a degree, which is far higher than other UK cities
    • Audiences are eager to return to top rated visitor attractions and events with visitors flocking to Edinburgh Castle (1.9m visitors) the National Museum of Scotland (2.19 million visitors) and the festivals (4.59 million in person and online attendees).

    Council Leader Jane Meagher said: 

    This edition of Edinburgh by Numbers reminds us of the strength and success of our capital city, which continues to punch far above its weight as a place to live, work, invest in and visit.

    Thanks to our fantastic parks and air quality, ‘Auld Reekie’ is no more. We’re leading the way in climate consciousness and outdoor living – with the data pointing to more of us cycling and running, high satisfaction rates with public transport and positive scores for wellbeing.

    We know that the results of Edinburgh by Numbers are hotly anticipated by professionals from across the tourism sector at home and abroad, and the outlook for hospitality is healthy – people are flocking back to the city’s main attractions and festivals and 5 million visitors are staying overnight. That’s 40% of Scotland’s total overnight tourism with hotel occupancy rates their highest in six years (81.4%).

    So, we’re getting outdoors and we’re enjoying our city and, in this report, there is much to celebrate. That said, these numbers also speak to the challenges Edinburgh faces. Drawn by good jobs and a good quality of life, migration means our population is growing three times faster than other Scottish cities. We’re living longer, but the birth rate has dropped. Many residents are struggling with the cost of living – meaning poverty and homelessness remain two of the biggest challenges of our time.

    All of this leads to unprecedented demand for homes and public services. Initiatives such as our affordable housebuilding programme, Visitor Levy, climate adaptation and better connectivity around the city will give us more resources and solutions for sustainably managing Edinburgh’s continued economic success and growth.

    Denise Hamilton, Head of Communications at Cycling Scotland, commented:

    “It’s really encouraging to see 68% of short trips now being made on foot or by bike in Edinburgh. New dedicated cycle routes, like the City Centre West to East Link and Leith Walk, are showing big increases in the proportion of journeys being cycled, compared with other transport. 

    “As Edinburgh continues to build its planned citywide network of safe, on-street cycle lanes, it’s likely more and more people will choose to get around by bike and benefit from being active, saving money and getting to their destination quickly. And everyone living in or visiting Edinburgh can enjoy cleaner air and less congestion.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New 30km fibre optic network will enhance the Lancaster district’s digital infrastructure Lancaster City Council is marking the activation of a 30km fibre optic network that is set to transform digital connectivity for public sector organisations and businesses across the district.

    Source: City of Lancaster

    Lancaster City Council is marking the activation of a 30km fibre optic network that is set to transform digital connectivity for public sector organisations and businesses across the district.

    Project partners at White Lund Depot, the first Lancaster City Council site to be connected to the full fibre network.

    The network, which consists of a spine of ultra-fast fibre optic cables connecting Lancaster, Morecambe and Heysham, has been developed in collaboration with local network specialists The Networking People (TNP).

    The council is also working with Cooperative Network Infrastructure (CNI), who have helped to develop similar networks in Blackpool and Tameside, to make the network available to other public sector partners including the police, NHS, education institutions, and Lancashire County Council.

    Businesses will also be able to access the network through internet service providers who are co-operative members, helping to stimulate economic growth by providing access to high-speed, reliable, and affordable digital infrastructure.

    Councillor Tim Hamilton-Cox, cabinet member with responsibility for Finance, said: “This fibre network marks a significant step forward in strengthening the district’s digital infrastructure.

    “The city council’s £1.8m capital investment in a high-speed fibre network will reduce the council’s own costs for data transmission but also create new opportunities for businesses – especially the district’s enviable collection of companies which have digital-intensive operations – and ensure that the district remains at the forefront of digital innovation.

    “The project has been delivered on budget and is an exemplar of collaboration between public, private and third-sector organisations. In particular, I would like to thank Tony Doyle of Blackpool Borough Council and the city council’s ICT team for their intensive support to make the project happen.

    “With the bulk of the budget being spent with TNP and B4RN, businesses which are owned and based in the district, it is Community Wealth-Building realised at some scale.”

    The next step is to develop a state-of-the-art hyper-green data centre facility at Salt Ayre Leisure Centre from which waste heat will be transferred to the swimming pool in order to reduce its running costs.

    Last updated: 14 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Coming up next week at the London Assembly W/C 17 March

    Source: Mayor of London

    PUBLICATIONS

    Unlocking Development in London

    Planning and Regeneration Committee

    The Planning and Regeneration Committee will publish a report on how to unlock more housing development in the capital.

    MEDIA CONTACT: Josh Hunt on 07763 252 310 / [email protected]

    Environmental Impact of Heathrow

    Environment Committee

    The Environment Committee will be writing to Heathrow Airport following up on a previous commitment from the airport to provide information on the potential environmental impacts of any runway expansion project.

    MEDIA CONTACT: Tony Smyth on 07763 251 727 / [email protected]

    PUBLIC MEETINGS                                                                     

    Monday 17 March

    Internal Audit Reports

    Audit Panel – The Chamber, City Hall, Kamal Chunchie Way, 2pm

    The Audit Panel will examine a number of recent reports published by the GLA’s audit function.

    The guests are:

    • Fay Hammond – Chief Finance Officer, GLA
    • David Esling – Head of Audit Assurance – Risk Management, MOPAC
    • Mark Woodley – Group Audit Lead, MOPAC;
    • Simon Powell – Assistant Director, Land and Development, GLA
    • Kabir Choudhury – Senior Property Manager, TfL
    • Rory McKenna – Monitoring Officer, GLA

    MEDIA CONTACT: Alison Bell on 07887 832 918 / [email protected]

    Tuesday 18 March

    HMICFRS Inspection and Q&A with the Deputy Mayor for the Fire Service

    Fire Committee – The Chamber, City Hall, Kamal Chunchie Way, 10am

    The Fire Committee will ask the Deputy Mayor responsible for the Fire Service, HM Inspector Lee Freeman KPM, and senior representatives from the London Fire Brigade about issues arising from the recent His Majesty’s Inspectorate of Constabulary and Fire & Rescue Services (HMICFRS) inspection report on LFB.

    A question-and-answer session with the LFB and Deputy Mayor will follow covering diversifying the workforce, training, evacuation of high-rise buildings and the Professional Standards Unit.

    The guests are:

    Panel 1 – HMICFRS Inspection:

    • Jules Pipe CBE, Deputy Mayor for Planning, Regeneration and the Fire Service
    • His Majesty’s Inspector Lee Freeman KPM, HMICFRS.
    • Jonathan Smith, Deputy Commissioner and Operational Director for Preparedness and Response, LFB
    • Charlie Pugsley, Deputy Commissioner and Operational Director for Prevention, Protection and Policy, LFB

    Panel 2 – Q&A:

    • Jules Pipe CBE, Deputy Mayor for Planning, Regeneration and the Fire Service
    • Jonathan Smith, Deputy Commissioner and Operational Director for Preparedness and Response, LFB
    • Charlie Pugsley, Deputy Commissioner and Operational Director for Prevention, Protection and Policy, LFB
    • Sally Hopper, Director for People, LFB

    MEDIA CONTACT: Josh Hunt on 07763 252 310 / [email protected]

    Wednesday 19 March

    Climate Budgeting and Green Financing

    Budget and Performance Committee – The Chamber, City Hall, Kamal Chunchie Way, 10am

    The Budget and Performance Committee will meet to examine the impact of the Mayor’s Climate Budget and Green Finance Fund, and the impact this has had on achieving London’s net zero 2030 target.

    The guests are:

    Panel 1:

    • Heidi Sørensen, Head of the Agency for Climate, City of Oslo
    • Professor Carly McLachlan, the Director of The Tyndall Centre for Climate Change Research at Manchester University
    • Mark Johnson, Public Sector Lead, Association of Chartered Certified Accountants

    Panel 2:

    • Fay Hammond, Chief Finance Officer, GLA
    • Pete Daw, Head of Climate Change, GLA
    • Megan Life, Assistant Director of Environment and Energy, GLA
    • Sam Longman, Head of Sustainability and Corporate Environment, Transport for London
    • Kenroy Quellennec-Reid, Head of Impact Investment and Analysis, London Treasury, GLA

    MEDIA CONTACT: Tony Smyth on 07763 251 727 / [email protected]

    Thursday 20 March

    Mayor’s Question Time

    The Chamber, City Hall, Kamal Chunchie Way, 10am

    The Mayor of London, Sir Sadiq Khan will face questions from London Assembly Members. 

    Topics will include:

    • Europe
    • Supporting an animal-friendly London
    • London’s Theft Epidemic
    • The London Growth Plan

    MEDIA CONTACT: Alison Bell on 07887 832 918 / [email protected]

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Kent taxi driver jailed after inflating turnover to secure three Covid loans

    Source: United Kingdom – Executive Government & Departments

    Press release

    Kent taxi driver jailed after inflating turnover to secure three Covid loans

    Jail for taxi driver who abused Covid Bounce Back Loan Scheme

    • Taxi driver Nelson Clark dishonestly secured three Covid Bounce Back Loans worth a combined £130,000 

    • Clark fraudulently overstated his turnover on the applications and failed to use the money for his businesses as he was required to do 

    • The 34-year-old has been jailed following investigations into his applications by the Insolvency Service 

    A Kent taxi driver has been jailed after exploiting a government-backed Covid loan scheme on three separate occasions during the pandemic. 

    Nelson Clark fraudulently applied for three Bounce Back Loans in 2020 by significantly exaggerating his turnover. 

    He then used the funds for personal use, breaking the rules of the scheme again. 

    Clark, 34, of Silver Birch Close, Dartford, was sentenced to two-and-a-half years in prison when he appeared at Croydon Crown Court on Thursday 13 March. 

    David Snasdell, Chief Investigator at the Insolvency Service, said: 

    Nelson Clark deliberately targeted a scheme which was set up to support genuine small businesses through Covid. 

    Clark made false representations on not just one occasion, but three times within a two-month period. His actions were clearly dishonest and he made matters worse by spending the money he received for his own personal benefit. 

    Five years on from the start of the pandemic, the Insolvency Service remains committed to taking action against the fraudsters who cynically applied for money they were not entitled to during a national emergency.

    Clark first applied to the bank for a £30,000 Bounce Back Loan in May 2020 on behalf of his N Clark Taxis business. 

    In the application, Clark claimed his annual turnover was £120,000. But Insolvency Service analysis revealed this was an over-estimate of around £70,000. 

    Two months later, Clark dishonestly secured a further £100,000 in Bounce Back Loan funds from different banks under the names of Nelson Clark Management and Rosewood Motors. 

    In both applications, Clark obtained £50,000 by falsely claiming his turnover for both businesses was £200,000 each. 

    Significant amounts of the £130,000 Clark fraudulently secured were used for personal purposes, including transfers of £80,000 to a third party. 

    Clark was declared bankrupt in August 2021 and signed a 10-year Bankruptcy Restrictions Undertaking in March 2022, restricting him from being able to borrow more than £500 without disclosing his bankrupt status. 

    The Insolvency Service is seeking to recover the fraudulently obtained funds under the Proceeds of Crime Act 2002. 

    Further information 

    Updates to this page

    Published 14 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: IMF Executive Board Completes the Fifth Review under the Extended Credit Facility Arrangement for Nepal

    Source: IMF – News in Russian

    March 14, 2025

    • The IMF Executive Board completed the fifth review under the Extended Credit Facility (ECF) Arrangement for Nepal, providing the country with access to SDR 31.4 million (about US$ 41.8 million).
    • Nepal has made tangible progress in implementing economic reforms under the program, despite a challenging political environment and disruptions caused by the September 2024 floods.
    • The growth recovery is expected to continue in FY2024/25, supported by increased capital spending including on reconstruction, an accommodative monetary policy stance, and additional hydropower generation.

    Washington, DC: On March 12, 2025, the Executive Board of the International Monetary Fund (IMF) completed the fifth review under the four‑year Extended Credit Facility (ECF) for Nepal, allowing the authorities to withdraw the equivalent of SDR 31.4 million (about US$ 41.8 million) under the ECF. This brings total disbursements under the ECF for budget support thus far to SDR 219.7 million (about US$ 289.1 million).

    The ECF arrangement for Nepal was approved by the Executive Board on January 12, 2022 (see Press Release No. 22/6) for SDR 282.4 million (180 percent of quota). Nepal has made tangible progress in implementing reforms under the program, which has supported early signs of economic recovery while preserving macroeconomic and financial stability and protecting the vulnerable.

    The economy continues to face challenges with subdued domestic demand. Economic activity is expected to pick up moderately in FY2024/25 on account of disruptions caused by the September 2024 floods. Growth is expected to reach 4.2 percent in FY2024/25, supported by a planned increase in capital spending including on reconstruction, an accommodative monetary policy stance, and additional hydropower generation. Post-flood supply-side pressures are expected to be short-lived, and average inflation is projected to remain close to the Nepal Rastra Bank’s target of about 5 percent. Efforts to mobilize revenues will support development spending and fiscal sustainability. The outlook is subject to important downside risks including those related to possible under-execution of capital spending, financial-sector vulnerabilities, and political fragility.

    Following the Executive Board discussion, Mr. Bo Li, Deputy Managing Director, made the following statement:

    “Executive Directors welcomed the continued recovery and the broadly adequate performance under the program, acknowledging the challenges posed by political uncertainty and recent flood-related disruptions. They noted that while the outlook remains broadly favorable, it is subject to downside risks. Accordingly, Directors encouraged continued prudent policies to safeguard macroeconomic stability and steadfast implementation of structural reforms to foster sustainable and inclusive growth. Fund capacity development will also be important to achieve program objectives.

    “Directors recommended continued gradual, growth-friendly fiscal consolidation to stabilize debt. Noting the need to mobilize revenue to support higher capital spending and protect the vulnerable, Directors welcomed the newly adopted Domestic Revenue Mobilization Strategy. They also underscored the need to strengthen public investment management to enhance capital spending execution. Further advancing fiscal transparency would help to contain fiscal risks and strengthen fiscal sustainability. Directors emphasized the importance of supporting the most vulnerable including through expanding child grants.

    “Directors agreed that monetary policy should remain cautious and data-driven to preserve price and external stability. They highlighted the importance of amending the Nepal Rastra Bank Act to strengthen its governance, independence and accountability.

    “Directors underscored that increasing financial sector vulnerabilities warrant a proactive approach. They encouraged steps to further align financial sector regulations with international standards, conduct the planned Loan Portfolio Review, and develop a comprehensive strategy to address problematic savings and credit cooperatives. Noting Nepal’s recent FATF grey listing, Directors stressed the urgency of strengthening the AML/CFT framework through reforms to enhance legal, regulatory, and supervisory frameworks.

    “Directors called for ambitious structural reforms to support more sustainable and inclusive growth. They recommended efforts to reduce the high cost of doing business, enhance the investment climate, improve governance, and strengthen anticorruption institutions. Nepal’s high vulnerability to natural disasters underscores the importance of enhancing resilience to climate shocks.”

                                                                                               Nepal: Selected Economic Indicators 2021/22-2029/30 1/

     

     

    2021/22

    		  

    2022/23

    2023/24

    		    

    2024/25

    2025/26

    2026/27

    2027/28

    2028/29

    2029/30

    Est.

    		    

    Projections
                             

    Output and Prices (annual percent change)

    		                    

    Real GDP

    5.6

    		  

    2.0

    		  

    3.1

    		  

    4.2

    5.4

    5.0

    5.0

    5.0

    5.0

    Headline CPI (period average)

    6.4

    		  

    7.7

    		  

    5.4

    		  

    5.2

    5.4

    5.4

    5.4

    5.4

    5.4

    Headline CPI (end of period)

    8.1

    		  

    7.4

    		  

    3.6

    		  

    5.5

    5.4

    5.4

    5.4

    5.4

    5.4

    Fiscal Indicators: Central Government (in percent of GDP)

    		              

    Total revenue and grants

    22.9

    19.3

    19.2

    19.8

    20.9

    21.5

    22.1

    22.6

    22.6

      of which: Tax revenue

    19.8

    16.2

    16.4

    17.0

    17.8

    18.4

    19.1

    19.6

    19.6

    Expenditure

    26.1

    25.2

    21.9

    24.3

    25.0

    25.4

    25.8

    26.2

    26.2

    Expenses

    21.7

    20.8

    18.6

    19.3

    19.4

    19.5

    19.6

    19.8

    19.8

    Net acquisition of nonfinancial assets

    4.3

    4.4

    3.3

    5.0

    5.6

    5.9

    6.2

    6.4

    6.4

    Operating balance

    1.2

    -1.4

    0.6

    0.5

    1.5

    2.1

    2.5

    2.8

    2.8

    Net lending/borrowing

    -3.1

    -5.8

    -2.7

    -4.5

    -4.1

    -3.8

    -3.7

    -3.6

    -3.6

    Statistical discrepancy

    0.0

    0.0

    0.0

    0.0

    0.0

    0.0

    0.0

    0.0

    0.0

    Net financial transactions

    3.1

    5.8

    2.7

    4.5

    4.1

    3.8

    3.7

    3.6

    3.6

    Net acquisition of financial assets

    2.6

    -0.9

    0.5

    1.3

    1.3

    1.3

    1.3

    1.3

    1.3

    Net incurrence of liabilities

    5.8

    4.9

    3.2

    5.8

    5.4

    5.1

    5.0

    4.9

    4.9

    Foreign

    2.0

    1.7

    1.6

    1.7

    1.5

    1.4

    1.3

    1.3

    1.4

    Domestic

    3.7

    3.3

    1.6

    4.1

    3.9

    3.7

    3.7

    3.5

    3.5
               

    Money and Credit (annual percent change)

    		              

    Broad money

    6.8

    11.4

    13.6

    10.1

    10.1

    10.3

    10.5

    10.7

    10.7

    Domestic credit

    17.9

    8.8

    6.2

    8.2

    9.6

    10.3

    10.5

    10.7

    10.7

    Private sector credit

    13.3

    4.6

    6.1

    7.2

    8.1

    9.1

    10.0

    10.7

    10.7
                           

    Saving and Investment (in percent of nominal GDP)

    		                    

    Gross investment

    37.6

    31.7

    32.9

    37.5

    39.4

    38.3

    37.0

    35.8

    34.7

    Gross fixed investment

    29.0

    25.1

    26.1

    29.7

    31.2

    30.4

    29.3

    28.3

    27.5

    Private

    23.6

    21.7

    22.7

    24.7

    25.6

    24.5

    23.1

    21.9

    21.1

    Central government

    5.3

    3.4

    3.3

    5.0

    5.6

    5.9

    6.2

    6.4

    6.4

    Change in Stock

    8.7

    6.6

    6.8

    7.8

    8.2

    8.0

    7.7

    7.4

    7.2

    Gross national saving

    25.1

    30.8

    36.7

    36.2

    35.5

    34.5

    33.2

    32.2

    31.0

    Private

    24.4

    32.7

    36.5

    36.3

    34.9

    33.3

    31.6

    30.1

    29.1

    Central government

    0.7

    -1.9

    0.2

    -0.1

    0.6

    1.2

    1.7

    2.0

    2.0
                 

    Balance of Payments

     

    		              

    Current account (in millions of U.S. dollars)

    -5,174

    -361

    1,663

    -630

    -1,969

    -2,166

    -2,321

    -2,479

    -2,760

    In percent of GDP

    -12.6

    -0.9

    3.8

    -1.3

    -3.8

    -3.8

    -3.7

    -3.6

    -3.7

    Trade balance (in millions of U.S. dollars)

    -13,759

    -10,699

    -10,431

    -12,481

    -15,053

    -15,957

    -16,797

    -17,678

    -18,664

    In percent of GDP

    -33.4

    -26.2

    -24.0

    -26.7

    -29.2

    -28.2

    -27.0

    -25.8

    -24.8

    Exports of goods (y/y percent change)

    43.9

    -19.9

    -2.5

    8.9

    9.6

    9.1

    9.7

    9.4

    9.4

    Imports of goods (y/y percent change)

    21.9

    -22.0

    -2.5

    18.4

    19.4

    6.3

    5.7

    5.7

    6.0

    Workers’ remittances (in millions of U.S. dollars)

    8,326

    9,485

    10,864

    11,151

    11,680

    12,258

    12,766

    13,283

    13,767

    In percent of GDP

    20.2

    23.2

    25.0

    23.8

    22.7

    21.6

    20.5

    19.4

    18.3

    Gross official reserves (in millions of U.S. dollars)

    8,956

    10,954

    14,547

    15,301

    15,004

    14,821

    14,876

    14,897

    15,289

    In months of prospective imports

    7.6

    9.3

    10.5

    9.4

    8.7

    8.1

    7.7

    7.2

    7.0

    Memorandum Items

    		                  

    Public debt (in percent of GDP)

    42.7

    47.1

    48.2

    50.0

    50.4

    50.6

    50.6

    50.5

    50.5

    Nominal GDP (in billions of U.S. dollars)

    41.2

    40.9

    43.4

    46.8

    51.5

    56.6

    62.3

    68.5

    75.3

    Nominal GDP (in billions of Nepalese Rupees)

    4,977

    5,349

    5,776

    6,333

    7,040

    7,792

    8,623

    9,543

    10,562

    Net International Reserves (in millions of U.S. dollars)

    8,821

    10,507

    14,064

    14,744

    14,451

    14,321

    14,440

    14,541

    15,027

    Primary Deficit (in billions of Nepali Rupees)

    110

    239

    76

    183

    179

    175

    180

    182

    204

    Primary Deficit (in percent of GDP)

    2.2

    4.5

    1.3

    2.9

    2.5

    2.2

    2.1

    1.9

    1.9

    Tax Revenue (in billions of Nepalese Rupees)

    984

    866

    945

    1,074

    1,250

    1,436

    1,648

    1,868

    2,065

    Tax Revenue (In percent of GDP)

    19.8

    16.2

    16.4

    17.0

    17.8

    18.4

    19.1

    19.6

    19.6

    Private sector credit (in percent of GDP)

    94.2

    91.7

    90.1

    88.0

    85.6

    84.3

    83.8

    83.8

    83.9

    Exchange rate (NPR/US$; period average)

    120.8

    130.8

    133.0

    …

    …

    …

    …

    …

    …

    Real effective exchange rate (average, y/y percent change)

    1.6

    1.2

    1.4

    …

    …

    …

    …

    …

    …
                                                                                                                           
             

    1/ Fiscal year ends in mid-July.

    		                      
                                                         

    Note: The NSO adopts a 3 year cycle in its national accounts producing preliminary, revised and final estimates for real GDP growth. In May 2023 growth was revised up in FY2020/21 from 4.2 percent to 4.8 percent and from 5.3 percent to 5.6 percent in FY2021/22 in light of new data.

    Note: Current baseline forecast is as of January 29, 2025.

    		    

    ·      
    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pemba Sherpa

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

    https://www.imf.org/en/News/Articles/2025/03/14/pr25063-nepal-imf-completes-the-fifth-review-under-the-extended-credit-facility-arrangement

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Global: Waiting lists, crumbling buildings, staff burnout: five years on, COVID is still hurting the financial health of the NHS

    Source: The Conversation – UK – By Catia Nicodemo, Professor of Health Economics, Brunel University of London

    The NHS was hit hard by COVID. And no amount of appreciative clapping or painted rainbows could distract from the vulnerabilities which were exposed by the pandemic – or the challenges it created.

    Some of those challenges – like the staggering backlog in patient care, or the huge mental and physical toll experienced by staff – will take years to overcome.

    And anyone compelled to attend a hospital in the UK at the moment can see the evidence at first hand. Wards are very busy and staff are overstretched.

    This is part of the legacy of a fast-spreading virus which killed 232,112 people in the UK and left an estimated 2 million suffering from the effects of long-COVID. It demanded urgent action from hospitals and health workers and brought immediate and widespread disruption to routine care, with appointments for elective surgery, cancer screenings and chronic disease management all delayed.

    One 2024 study I worked on analysed appointment cancellations for cancer patients during the pandemic, and found that they waited an average of 19 days longer than before for rescheduled appointments. (Mortality rates remained stable though, indicating that the NHS effectively prioritised the most urgent cases.)

    This kind of disruption has left the healthcare system facing a monumental backlog, with treatment waiting lists soaring to record levels. According to the British Medical Association, there are over 7.5 million people now on waiting lists (compared to 4.5 million before the pandemic) – and those waiting times are longer.

    Cutting this waiting list is apparently one of the prime ministers’s priorities. But there is no easy fix.

    The basic infrastructure of the NHS – the buildings, IT equipment, offices – is creaking, with outdated facilities, insufficient beds and a lack of specialised equipment. And one study suggests that capital funding – investment in assets that will be used for more than a year – for NHS trusts in England is down by 21% over the past five years.

    This is primarily because the Department of Health and Social Care has been diverting long-term investment funds to cover day-to-day operational costs such as staff salaries and medicines.

    Since 2019, £500 million of capital investment has been cancelled or postponed. And while overall NHS budgets have been growing, the increased spending has often been absorbed by inflation, rising demand and the need to address immediate pressures. This leaves little for infrastructure upgrades, new equipment or technological advancements.

    The Health Foundation has warned that the lack of a long-term capital funding strategy could further jeopardise patient care in the future. Many NHS facilities no longer meet the needs of a modern health service, with some hospitals requiring complete refurbishment or replacement rather than just repairs.

    And of course, treating patients is not just about equipment and buildings. Nurses and doctors are under extreme pressure, facing unprecedented levels of stress, burnout and trauma. A recent survey revealed that one in three NHS doctors are experiencing extreme tiredness, impairing their ability to treat patients effectively.

    NHS key workers wave from inside Chelsea and Westminster Hospital, May 2020.
    Guy William/Shutterstock

    A similar number said their ability to practice medicine may have been negatively affected by fatigue, with some even reporting cases of patient harm or a near-miss incident.

    Stressed NHS

    And although the NHS workforce has actually grown over the past five years, it has not been sufficient to reduce waiting lists, deal with growing demand, or improve staff morale. Anxiety, stress and depression accounted for for over 624,300 working days lost in one month last year.

    Without a healthy and motivated workforce, the NHS’s recovery efforts will remain severely hampered. Other contributing factors include increased demand for healthcare services, partly due to an ageing population and the growing prevalence of chronic conditions.

    To address these challenges, the NHS needs a modernised approach to patient care. Research suggests that technology including telemedicine (online consultations) and AI-driven diagnostics, could streamline services and reduce waiting times.

    Other possible steps include the expansion of community diagnostic centres, to ease access to tests, and screenings, to improve efficiency.

    Overall, the pandemic has underscored the critical importance of a robust and resilient healthcare system. As the NHS navigates its own path to recovery, it must prioritise both immediate solutions to the backlog crisis and long-term strategies. This will require significant investment, but also a commitment to innovation and the wellbeing of healthcare workers.

    The road ahead for the NHS will be tricky, but with the right measures in place, it could emerge stronger and more resilient than ever. The lessons learned from COVID should serve as a catalyst for transformative change, ensuring that the UK’s healthcare system is better prepared to face whatever the future may hold.

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

    – ref. Waiting lists, crumbling buildings, staff burnout: five years on, COVID is still hurting the financial health of the NHS – https://theconversation.com/waiting-lists-crumbling-buildings-staff-burnout-five-years-on-covid-is-still-hurting-the-financial-health-of-the-nhs-251637

    MIL OSI – Global Reports –

  • MIL-OSI Video: Ten Facts About FBI’s Ten Most Wanted Fugitives List

    Source: Federal Bureau of Investigation (FBI) (video statements)

    The following video shows ten facts about the FBI’s Ten Most Wanted list from over the years.

    —————————————————
    Follow us on social media:
    X: https://twitter.com/fbi
    Facebook: https://facebook.com/FBI
    Instagram: https://instagram.com/fbi
    YouTube: youtube.com/user/fbi

    https://www.youtube.com/watch?v=FE02mkToIJg

    MIL OSI Video –

  • MIL-OSI Video: Who Are the Most Notorious FBI Fugitives?

    Source: Federal Bureau of Investigation (FBI) (video statements)

    The FBI’s Ten Most Wanted Fugitives list turns 75 this year. The FBI’s historian, Dr. John Fox, shares stories of some of the most notorious fugitives to appear on the list. The only thing is he doesn’t know which ones he’ll be asked about.

    A reward of at least $250,000 is given for information that leads to the arrest and/or conviction of a Ten Most Wanted Fugitive. If you have information about the location of any fugitive, let us know at tips.fbi.gov.
    Current Ten Most Wanted Fugitives list: https://www.fbi.gov/wanted/topten

    Follow us on social media:
    —————————————————
    X: https://twitter.com/fbi
    Facebook: https://facebook.com/FBI
    Instagram: https://instagram.com/fbi
    YouTube: youtube.com/user/fbi

    https://www.youtube.com/watch?v=DSn_ZCs-Y2g

    MIL OSI Video –

  • MIL-OSI USA: WTAS: Ernst’s INNOVATE Act to Usher in Golden Age of American Innovation

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)
    WASHINGTON – As part of her mission to unleash small businesses and usher in a Golden Age of American innovation, U.S. Senate Committee on Small Business and Entrepreneurship Chair Joni Ernst (R-Iowa) recently unveiled her Investing in National Next-Generation Opportunities for Venture Acceleration and Technological Excellence (INNOVATE) Act to reauthorize and reform the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs that fuel innovation and supply cutting-edge technology to the defense industrial base.
    During a hearing last week, Ernst highlighted how the bill will slash red tape to make way for new applicants, scale the best battle-ready technologies for the warfighter, end corporate welfare for SBIR mills, and strengthen protections against China’s attempts to steal taxpayer-funded intellectual property. Since its introduction, the INNOVATE Act has garnered widespread praise.
    What They Are Saying about the INNOVATE Act:
    Technology Association of Iowa
    “Iowa’s tech-driven small businesses play an essential role in advancing innovation, creating high-quality jobs, and driving economic growth across the state,” said Brian Waller, President. “However, many of these companies face significant barriers when seeking federal funding for research and development. Current SBIR-STTR application processes are complex and time-consuming, limiting participation from new and emerging startups that lack the resources to navigate the challenging process. The INNOVATE Act directly addresses these challenges by introducing a streamlined Phase 1A application process, making it easier for first-time applicants to access funding and contribute to the nation’s technological advancement.”
    Iowa Economic Development Authority
    “I appreciate that the INNOVATE Act makes fundamental changes to encourage more participation, including appropriate standards for the size of participating companies and Phase II awards for entrepreneurs transitioning into the workforce from academia,” said Debi Durham, Director. “Also, the proposal to create Phase 1A awards with a shorter, streamlined application will attract thousands of new small business owners and entrepreneurs, both urban and rural, who may have been discouraged previously by bureaucratic red tape.”
    America First Policy Institute
    “The Chinese Communist Party (CCP) has a history of abusing government programs that provide startup capital and investment to American small businesses,” said Adam Savit, China Policy Initiative Director. “The Innovate Act reforms this process and would safeguard taxpayer-funded programs at the Small Business Administration (SBA) from exploitation by requiring vetting of international affiliations of business applicants and board members for ties to foreign regimes like the CCP. It adds a uniform evaluation baseline for all agencies participating in these programs. Also, it strengthens the ability to claw back investment money if the agency later discovers adversarial or malign influence. These commonsense reforms meet the rising threat of foreign state actors who only want to wreck our economy. These sensible reforms would protect programs like the SBA’s SBIR, STTR, and others from CCP exploitation if passed.”
    New American Industrial Alliance
    “The INNOVATE Act ensures that SBIR and STTR will remain critical components of America’s innovation infrastructure,”said Julius Krein, Chair of the Board of Directors. “The reforms and improvements included in this bill will keep these programs focused on advancing the most promising technologies while addressing efficiency concerns and national security risks.”
    Foundation for American Innovation
    “The INNOVATE Act would improve government efficiency by reforming the SBIR and STTR programs to reduce waste and ensure that more American tax dollars are invested in the most promising technologies to advance American innovation,” said Dan Lips, Senior Fellow. “Importantly, the bill also tightens safeguards in these programs to address fraud and national security risks that government watchdogs have documented.”
    Alliance for Commercial Technology in Government
    “The Alliance for Commercial Technology in Government is delighted to provide our enthusiastic endorsement of, and support for the INNOVATE Act, released March 5th by the Senate Small Business Committee,” said Warren Katz, Chairman. “The Small Business Innovation Research (SBIR) program, known as America’s Seed Fund, is a highly effective research program with commercialization of government funded research by small business its main goal. It should be reauthorized with much-needed reforms included in INNOVATE.”
    Software in Defense Coalition
    “SBIR and STTR programs are an essential part of enabling innovative high-tech companies to advance national security technologies. We strongly urge adoption of these crucial reforms to foster a more competitive and innovative ecosystem in the federal enterprise, protected from adversarial influence. These changes will ensure SBIR and STTR programs continue to drive innovation for the benefit of our nation’s defense and technological leadership.”

    MIL OSI USA News –

  • MIL-OSI USA: Cantwell to Dr. Oz: “Are You Going to Cut Medicaid?”

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    03.14.25
    Cantwell to Dr. Oz: “Are You Going to Cut Medicaid?”
    Dr. Mehmet Oz nominated by Trump to serve in key post overseeing Medicare and Medicaid spending; GOP spending bill would necessitate slashing Medicaid; Cantwell snapshot report shows rural central and eastern WA health care would be devastated by Medicaid cuts
    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), senior member of the Senate Finance Committee and ranking member of the Senate Committee on Commerce, Science, and Transportation, pressed Dr. Mehmet Oz – Trump’s nominee for Administrator of the Centers for Medicare and Medicaid Services – on how he plans to defend Medicaid as Republicans in Congress move to cut billions of dollars from the program.
    During Dr. Oz’s Finance Committee confirmation hearing, Sen. Cantwell asked him: “Do you believe in the Medicaid expansion that was done under the Affordable Care Act?”
    Dr. Oz: “For some states, it made sense. For some it didn’t. I think that’s a good example of how states should pick a path to take care of their most vulnerable. But they have to have a plan.”
    Sen. Cantwell: “Well, wait, but the states that didn’t don’t have a plan. What plan did they have?”
    Dr. Oz: “As we discussed in your office, with the Affordable Care Act, they have an opportunity to expand Medicaid, or they could use other tactics. As you know, 10 states haven’t expanded—”
    Sen. Cantwell: “I know, but you’re saying that’s okay?”
    Dr. Oz: “As long as they have a plan to address their challenges of dealing with the underserved populations.”
    Sen. Cantwell: “What plan?”
    Sen. Cantwell concluded her questioning by calling Dr. Oz out for not saying which elements of Medicaid and the Affordable Care Act he plans to defend from cuts under a Trump administration. She reminded him that in 2009, he told the Seattle Times: “It should be mandatory that everybody in America have health-care coverage. If you can’t afford it, we have to give it to you.”
    “Look — you’re coming with the ability to be an advocate here. So we want to know what you’re going to be an advocate for. And all my colleagues are going to want to know, are you going to cut Medicaid?” Sen. Cantwell asked. “We don’t believe in cutting Medicaid.”
    “The number of people in my state who are getting maternal care from this is exorbitant. The number of kids getting care from this is high — 47% of kids in my state receive insurance from Medicaid. And we have population centers of our entire state that are well above 50% Medicaid, Medicare populations,” she continued. “If you don’t like some aspects of the Affordable Care Act, you should say which ones you don’t like.”
    Last month, Sen. Cantwell released a snapshot report highlighting the impact that slashing Medicaid to fund tax cuts for corporations and the ultra-wealthy would have on Washington state’s health care system — especially in Central and Eastern Washington.
    READ MORE:
    The Spokesman Review: Medicaid could be on chopping block after Northwest Republicans help pass House budget measure
    The Tri-City Herald: Newhouse backs House GOP budget plan that could lead to cuts for Tri-Cities Medicaid users
    The Seattle Times: Cuts to Medicaid would hurt WA’s children, poor
    Medicaid is the federal program that insures many low-income adults and children, pregnant people, seniors, and people with disabilities. Washington state’s Medicaid program, Apple Health, ensures that eligible Washingtonians can afford to seek health care and see providers when they need to. The program also ensures that hospitals — which are required to treat everyone, regardless of their ability to pay — receive reimbursements for the significant number of low-income people they serve. Over 1.9 million Washingtonians are enrolled in Apple Health.
    Late last month, the House of Representatives passed a funding bill that would necessitate $880 billion in cuts from the House Energy and Commerce Committee, which has jurisdiction over Medicaid. Supporters of the bill claim that the text includes no mention of Medicaid — however, the extent of the cuts required by the legislation would mean that the committee has essentially no other options other than to hack away at Medicaid.
    Moreover, this week – after President Trump told Congress that Elon Musk is leading his efforts to cut the government – Musk said the vital Social Security, Medicare, and Medicaid programs are “the big one to eliminate.”
    Video of Sen. Cantwell’s exchange with Dr. Oz is available HERE, audio HERE, and a full transcript is HERE.

    MIL OSI USA News –

  • MIL-OSI USA: Strengthening Our Workforce: Shapiro Administration Visits Rice Fruit Company to Highlight the Governor’s Proposed Investment in Pennsylvania’s Agricultural Workforce

    Source: US State of Pennsylvania

    March 14, 2025 – Gardners, PA

    Strengthening Our Workforce: Shapiro Administration Visits Rice Fruit Company to Highlight the Governor’s Proposed Investment in Pennsylvania’s Agricultural Workforce

    The Department of Community and Economic Development (DCED) Secretary Rick Siger and local leaders visited the Rice Fruit Company in Gardners, Adams County, to highlight the Shapiro Administration’s commitment to investing in Pennsylvania’s workers. Building on that commitment, Governor Josh Shapiro’s 2025-2026 proposed budget invests $12.5 million in the WEDnetPA program.

    Created by DCED more than 25 years ago and made available through the Workforce and Economic Development Network of Pennsylvania, WEDnetPA provides funds to qualified employers to train new and existing employees. The training must be skill-building for an employee’s current job or for an advancement or promotion.

    Governor Shapiro’s proposed investment in the program creates a dedicated funding source for WEDnetPA and increases the program’s funding to ensure more Pennsylvania businesses have access to the tools they need to train their employees. Demand for the WEDnetPA program is at least double what the current $8 million in in funding can provide. While nearly 500 businesses will receive WEDnetPA assistance this year, there are an additional 250 submitted applications requesting funds – demonstrating the need for additional money to support Pennsylvania companies that prioritize upskilling their workforce.

    Speakers in Order:
    Rick Siger – Secretary of the Dept. of the PA Community and Economic Development (DCED)
    Representative Torren Ecker
    Shannon Munro – Executive Program Officer of WEDnetPA
    Ben Rice – President, Rice Fruit Company

    MIL OSI USA News –

  • MIL-OSI Security: Illinois Doctor Pleads Guilty to Evading Approximately $1.6M in Taxes

    Source: United States Department of Justice Criminal Division

    An Illinois doctor pleaded guilty yesterday to tax evasion for hiding assets and lying to the IRS about his ability to pay approximately $1.6 million in taxes, penalties, and interest.

    According to court documents and statements made in court, Krishnaswami Sriram was a medical doctor who resided in Lake Forest. From approximately 2011 to 2017, Sriram evaded payment of approximately $1.6 million he owed to the IRS. Among other steps, Sriram transferred ownership, in name only, of two rental properties from himself to his children without their knowledge, even though he continued to receive income from these properties. He also transferred approximately $600,000 from bank accounts he controlled in the United States to accounts in India. To fraudulently reduce the money he owed the IRS, Sriram submitted documents to the IRS that omitted an investment account in the United States, bank and investment accounts in India, and ownership of the rental properties.

    In total, Sriram caused a tax loss to the IRS of approximately $1.6 million.

    As part of the plea, Sriram also admitted that, between February 2012 and January 2022, he caused false billing to Medicare for episodes of in-home physician care, which he purportedly provided to Medicare beneficiaries on dates when those beneficiaries resided at inpatient facilities other than their homes or were deceased. Sriram’s false statements in medical records relating to these episodes of care resulted in false billing to Medicare in the amount of $136,980.36.

    Sriram is scheduled to be sentenced on June 10. He faces a maximum penalty of five years in prison as well as a period of supervised release, restitution, and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division made the announcement.

    IRS Criminal Investigation is investigating the case.

    Assistant U.S. Attorney Sara E. Henderson for the Northern District of California prosecuted the case, with assistance from Trial Attorney Victor Yanz, of the Criminal Division’s Fraud Section.

    MIL Security OSI –

  • MIL-OSI Security: Virginia Businessman Sentenced for Tax and Investment Fraud

    Source: United States Department of Justice Criminal Division

    A Virginia man was sentenced today to 78 months in prison for tax crimes and his wire fraud scheme.

    According to court documents and statements made in court, Rick Tariq Rahim, of Great Falls, owned and operated several businesses, including laser tag facilities and an Amazon reseller. From 2015 to 2021, Rahim did not pay the IRS the taxes withheld from his employees’ paychecks or file the required quarterly employment tax returns reporting those withholdings.

    Between October 2010 and October 2012, Rahim filed two personal income tax returns on which he reported owing substantial taxes, but did not pay all the taxes due. When the IRS attempted to collect the unpaid taxes, Rahim submitted a false statement that omitted valuable assets he owned, including a helicopter, a Bentley, a Lamborghini, and real estate in Great Falls. Approximately two weeks later, Rahim transferred ownership of the Great Falls property to his wife. He also paid personal expenses from his business bank accounts, including more than $889,000 toward his mortgages and more than $669,000 to purchase or lease cars, including three different Lamborghinis. Rahim withdrew more than $1.1 million in cash in amounts less than $10,000 to avoid triggering currency transaction reports from the bank. Rahim has not filed a personal income tax return since 2012 despite earning more than $34 million in gross income.

    In total, Rahim caused a loss to the IRS of at least $4.4 million.

    Rahim also defrauded customers who invested using his automated trading bots and by “copying” Rahim’s supposed trading activities that he posted to Discord. He marketed his products on websites named BotsforWealth, TradeAutomation, ProChartSignals, OptionCopier, CopyAndWin, SnipeAlgo, and QQQtrade. Rahim charged customers a subscription fee to access his bots and other software, and to copy his supposed trades. Rahim also offered a “lifetime membership” to which customers received access to Rahim’s private Discord channel, some of his products, and his “in-office” trading days. Rahim personally traded stocks for at least two individuals, claiming “We’ll hit home runs and make $500k+ per day very very often.” Instead, Rahim lost over $300,000 of his clients’ funds in eight months. 

    Rahim induced customers to subscribe to his products by using social media tools, including TikTok, YouTube, and Discord. He also sought to induce customers by claiming he was extremely wealthy, boasting about trading millions of dollars and posting about his large home, pool, and luxury cars, including his Lamborghini. He posted false information to his websites and to his social media accounts claiming to “beat the stock market every day” and promising extreme profit margins. His claim of regularly beating the market was exaggerated. In reality, he did not post his trades that lost money. In fact, Rahim realized over $500,000 in losses from February 2021 through December 2022, and did not earn millions in the market during this time period as he had claimed. As part of his fraud scheme, Rahim also created at least 20 Discord user profiles where he posted emojis, likes, and symbols showing agreement and excitement regarding Rahim’s posts. Rahim earned at least $1,397,000 in subscription fees during the course of his schemes.

    In addition to Rahim’s prison sentence, he agreed to forfeit over $1.3 million and must pay restitution to the IRS and to his investment fraud victims.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division and U.S. Attorney Erik S. Siebert for the Eastern District of Virginia made the announcement.

    IRS Criminal Investigation investigated Rahim’s tax fraud and FBI investigated his investment fraud. The case was consolidated for sentencing.

    Trial Attorneys William Montague and Ashley Stein of the Tax Division and Assistant U.S. Attorney Kimberly Shartar for the Eastern District of Virginia prosecuted Rahim for his tax fraud. Assistant U.S. Attorney Shartar prosecuted Rahim for his investment fraud.

    MIL Security OSI –

  • MIL-OSI USA: Accelerated Timeline For Suffolk Reconstruction Project

    Source: US State of New York

    overnor Kathy Hochul and New York State Department of Transportation Commissioner Marie Therese Dominguez today announced that the construction of the bridge at the junction of State Route 347 and Nicolls Road (Suffolk County Route 97) is being accelerated and will now start six years earlier than previously planned. Originally scheduled to start in 2034, the Department of Transportation is now progressing the project to begin construction on the bridge in late 2028 to minimize future construction costs while reducing travel times for motorists. Department engineers are currently engaged in the preliminary design phase for a grade separated interchange to better suit the needs of motorists.

    “Reliable, accessible transportation is the backbone of every society and is a right every community must have, which is why I’m proud to support and celebrate this much-needed project in Suffolk County.” Governor Hochul said. “This overpass will bring a new driving experience to those who live, work and commute in Suffolk County, and I’m looking forward to seeing its completion. By accelerating this project, we are not only improving safety and efficiency for motorists, but we are also strengthening Long Island’s infrastructure to support future growth and economic development.”

    New York State Department of Transportation Commissioner Marie Therese Dominguez said, “Governor Hochul is committed to responding to the needs of the community through investments in transportation infrastructure — and here on Long Island, the community has spoken and the State has listened. The new bridge at Route 347 and Nicolls Road will be coming soon and years ahead of schedule. The State Route 347 corridor is in the process of a major transformation thanks to strong community input coupled with a dedicated Chief Executive, Kathy Hochul, and the team at NYSDOT. This new overpass will bring a whole new driving experience to those who live, work and commute in Suffolk County, and we are excited to move this bridge project forward.”

    The bridge project will also reconstruct State Route 347 beyond Nicolls Road for about one mile east through Mark Tree Road. This will better accommodate motorists and emergency vehicles accessing Nicolls Road on their way to school, work, retail shopping centers and nearby Stony Brook University Hospital.

    Construction is currently expected to be completed in 2031 and estimated to cost between $110 million and $140 million.

    To date, the State Department of Transportation has invested over $200 million towards transforming State Route 347 from an antiquated highway into a 21stCentury boulevard with new travel lanes, a decorative highway median, a shared-use path for multi-modal travel, lush greenery, bus stops with solar powered lighting and enhanced safety features. Six projects have already been completed stretching from State Route 454 (Veterans Memorial Highway) to Hallock Road and at the intersection with State Route 112. A seventh section, which will reconstruct the thoroughfare between Hallock Road and Nicolls Road, is currently expected to begin this summer.

    Nicolls Road is a Suffolk County limited access highway stretching from Montauk Highway in Bayport on the South Shore to State Route 25A in historic Stony Brook on the North Shore. It offers connections to residences, commercial shopping, the Ammerman Campus of Suffolk County Community College and Stony Brook University’s flagship campus and award-winning hospital.

    Following the bridge’s completion, additional improvements on State Route 347 will take place from Mark Tree Road to Old Town Road and from Old Town Road to State Route 25A, all within the Town of Brookhaven.

    State Senator Anthony Palumbo said “Today’s announcement by Governor Hochul and the New York State Department of Transportation to accelerate the overpass project at State Route 347 and Nicolls Road by six years is great news for our region and local residents. These thoroughfares are a gateway to the State’s flagship University at Stony Brook and are important roadways for the area’s businesses, residents and college students. The acceleration of this project underscores the Governor’s understanding of the need to invest in Long Island’s infrastructure projects.”

    State Senator Dean Murray said “I’m very excited that the Route 347 and Nicolls Road bridge project has been expedited and is now targeted for 2028. This is a major project that will impact both commuters and businesses. I very much appreciate the NYSDOT making this a priority.”

    Assemblymember Rebecca Kassay said “We are grateful to Governor Hochul for her commitment to upgrading Brookhaven’s roads and investing in Long Island’s essential infrastructure. The 347 Reconstruction Project is critical to our district: reducing traffic congestion upon completion; improving the look and feel of this state highway; further managing stormwater to mitigate flooding; and helping to make 347 safer for cyclists and pedestrians. I thank the NYSDOT for responding to our district’s residents who have long advocated for Route 347 improvements and an overpass at Nicolls Road. I will continue to collaborate with the Governor, NYSDOT, local government officials, and my constituents to see that this project improves residents’ and visitors’ experience on our roads.”

    Assemblymember Doug Smith said, “The acceleration of this critical infrastructure project is welcome news for Suffolk County residents, businesses, and commuters. The improvements to State Route 347 and Nicolls Road will enhance safety, reduce congestion, and support our local economy. I appreciate Governor Hochul and the Department of Transportation for recognizing the importance of this project and working to deliver these much-needed upgrades years ahead of schedule.”

    Suffolk County Executive Ed Romaine said, “For more than a decade I have advocated for this project to be prioritized. This bridge will help alleviate the traffic congestion that has plagued Route 347, improve the quality of life for the surrounding residents and increase safety in the area. Thank you to DOT for accelerating this project and we hope to see some real progress in the newly designated time frame.”

    Brookhaven Town Supervisor Dan Panico said, “Today’s news is extremely positive, logical and gratifying for all those who have rallied for this proposal. Investments in our infrastructure create good-paying jobs and provide solutions for our collective future. Here we will eliminate a traffic choke point for Brookhaven’s residents to the only Level one Trauma Center in Suffolk County at Stony Brook Hospital. Brookhaven certainly appreciates this news and thanks all those involved in moving this project up.”

    Stony Brook University Interim President Richard McCormack said “On any given day, we have tens of thousands of students, faculty, staff and patients commuting to our university and hospital. An elevated bridge at State Route 347 and Nicolls Road will significantly reduce traffic at this major intersection and we thank the Governor and Commissioner Dominguez for accelerating this critical infrastructure project.”

    About the Department of Transportation
    It is the mission of the New York State Department of Transportation to provide a safe, reliable, equitable, and resilient transportation system that connects communities, enhances quality of life, protects the environment, and supports the economic well-being of New York State.

    Lives are on the line; slow down and move over for highway workers!

    For more information, find us on Facebook, follow us on X or Instagram, or visit our website. Updates from DOT’s Long Island region are also available on X. For up-to-date travel information, call 511, visit www.511NY.org or download the free 511NY mobile app.

    MIL OSI USA News –

  • MIL-OSI USA: Illinois Doctor Pleads Guilty to Evading Approximately $1.6M in Taxes

    Source: US State of North Dakota

    An Illinois doctor pleaded guilty yesterday to tax evasion for hiding assets and lying to the IRS about his ability to pay approximately $1.6 million in taxes, penalties, and interest.

    According to court documents and statements made in court, Krishnaswami Sriram was a medical doctor who resided in Lake Forest. From approximately 2011 to 2017, Sriram evaded payment of approximately $1.6 million he owed to the IRS. Among other steps, Sriram transferred ownership, in name only, of two rental properties from himself to his children without their knowledge, even though he continued to receive income from these properties. He also transferred approximately $600,000 from bank accounts he controlled in the United States to accounts in India. To fraudulently reduce the money he owed the IRS, Sriram submitted documents to the IRS that omitted an investment account in the United States, bank and investment accounts in India, and ownership of the rental properties.

    In total, Sriram caused a tax loss to the IRS of approximately $1.6 million.

    As part of the plea, Sriram also admitted that, between February 2012 and January 2022, he caused false billing to Medicare for episodes of in-home physician care, which he purportedly provided to Medicare beneficiaries on dates when those beneficiaries resided at inpatient facilities other than their homes or were deceased. Sriram’s false statements in medical records relating to these episodes of care resulted in false billing to Medicare in the amount of $136,980.36.

    Sriram is scheduled to be sentenced on June 10. He faces a maximum penalty of five years in prison as well as a period of supervised release, restitution, and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division made the announcement.

    IRS Criminal Investigation is investigating the case.

    Assistant U.S. Attorney Sara E. Henderson for the Northern District of California prosecuted the case, with assistance from Trial Attorney Victor Yanz, of the Criminal Division’s Fraud Section.

    MIL OSI USA News –

  • MIL-OSI USA: Virginia Businessman Sentenced for Tax and Investment Fraud

    Source: US State of North Dakota

    Defendant Caused Nearly $4.5M in Loss to IRS and Caused Significant Losses to Investors

    A Virginia man was sentenced today to 78 months in prison for tax crimes and his wire fraud scheme.

    According to court documents and statements made in court, Rick Tariq Rahim, of Great Falls, owned and operated several businesses, including laser tag facilities and an Amazon reseller. From 2015 to 2021, Rahim did not pay the IRS the taxes withheld from his employees’ paychecks or file the required quarterly employment tax returns reporting those withholdings.

    Between October 2010 and October 2012, Rahim filed two personal income tax returns on which he reported owing substantial taxes, but did not pay all the taxes due. When the IRS attempted to collect the unpaid taxes, Rahim submitted a false statement that omitted valuable assets he owned, including a helicopter, a Bentley, a Lamborghini, and real estate in Great Falls. Approximately two weeks later, Rahim transferred ownership of the Great Falls property to his wife. He also paid personal expenses from his business bank accounts, including more than $889,000 toward his mortgages and more than $669,000 to purchase or lease cars, including three different Lamborghinis. Rahim withdrew more than $1.1 million in cash in amounts less than $10,000 to avoid triggering currency transaction reports from the bank. Rahim has not filed a personal income tax return since 2012 despite earning more than $34 million in gross income.

    In total, Rahim caused a loss to the IRS of at least $4.4 million.

    Rahim also defrauded customers who invested using his automated trading bots and by “copying” Rahim’s supposed trading activities that he posted to Discord. He marketed his products on websites named BotsforWealth, TradeAutomation, ProChartSignals, OptionCopier, CopyAndWin, SnipeAlgo, and QQQtrade. Rahim charged customers a subscription fee to access his bots and other software, and to copy his supposed trades. Rahim also offered a “lifetime membership” to which customers received access to Rahim’s private Discord channel, some of his products, and his “in-office” trading days. Rahim personally traded stocks for at least two individuals, claiming “We’ll hit home runs and make $500k+ per day very very often.” Instead, Rahim lost over $300,000 of his clients’ funds in eight months. 

    Rahim induced customers to subscribe to his products by using social media tools, including TikTok, YouTube, and Discord. He also sought to induce customers by claiming he was extremely wealthy, boasting about trading millions of dollars and posting about his large home, pool, and luxury cars, including his Lamborghini. He posted false information to his websites and to his social media accounts claiming to “beat the stock market every day” and promising extreme profit margins. His claim of regularly beating the market was exaggerated. In reality, he did not post his trades that lost money. In fact, Rahim realized over $500,000 in losses from February 2021 through December 2022, and did not earn millions in the market during this time period as he had claimed. As part of his fraud scheme, Rahim also created at least 20 Discord user profiles where he posted emojis, likes, and symbols showing agreement and excitement regarding Rahim’s posts. Rahim earned at least $1,397,000 in subscription fees during the course of his schemes.

    In addition to Rahim’s prison sentence, he agreed to forfeit over $1.3 million and must pay restitution to the IRS and to his investment fraud victims.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division and U.S. Attorney Erik S. Siebert for the Eastern District of Virginia made the announcement.

    IRS Criminal Investigation investigated Rahim’s tax fraud and FBI investigated his investment fraud. The case was consolidated for sentencing.

    Trial Attorneys William Montague and Ashley Stein of the Tax Division and Assistant U.S. Attorney Kimberly Shartar for the Eastern District of Virginia prosecuted Rahim for his tax fraud. Assistant U.S. Attorney Shartar prosecuted Rahim for his investment fraud.

    MIL OSI USA News –

  • MIL-OSI Security: Security News: Illinois Doctor Pleads Guilty to Evading Approximately $1.6M in Taxes

    Source: United States Department of Justice 2

    An Illinois doctor pleaded guilty yesterday to tax evasion for hiding assets and lying to the IRS about his ability to pay approximately $1.6 million in taxes, penalties, and interest.

    According to court documents and statements made in court, Krishnaswami Sriram was a medical doctor who resided in Lake Forest. From approximately 2011 to 2017, Sriram evaded payment of approximately $1.6 million he owed to the IRS. Among other steps, Sriram transferred ownership, in name only, of two rental properties from himself to his children without their knowledge, even though he continued to receive income from these properties. He also transferred approximately $600,000 from bank accounts he controlled in the United States to accounts in India. To fraudulently reduce the money he owed the IRS, Sriram submitted documents to the IRS that omitted an investment account in the United States, bank and investment accounts in India, and ownership of the rental properties.

    In total, Sriram caused a tax loss to the IRS of approximately $1.6 million.

    As part of the plea, Sriram also admitted that, between February 2012 and January 2022, he caused false billing to Medicare for episodes of in-home physician care, which he purportedly provided to Medicare beneficiaries on dates when those beneficiaries resided at inpatient facilities other than their homes or were deceased. Sriram’s false statements in medical records relating to these episodes of care resulted in false billing to Medicare in the amount of $136,980.36.

    Sriram is scheduled to be sentenced on June 10. He faces a maximum penalty of five years in prison as well as a period of supervised release, restitution, and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division made the announcement.

    IRS Criminal Investigation is investigating the case.

    Assistant U.S. Attorney Sara E. Henderson for the Northern District of California prosecuted the case, with assistance from Trial Attorney Victor Yanz, of the Criminal Division’s Fraud Section.

    MIL Security OSI –

  • MIL-OSI Security: Security News: Virginia Businessman Sentenced for Tax and Investment Fraud

    Source: United States Department of Justice 2

    A Virginia man was sentenced today to 78 months in prison for tax crimes and his wire fraud scheme.

    According to court documents and statements made in court, Rick Tariq Rahim, of Great Falls, owned and operated several businesses, including laser tag facilities and an Amazon reseller. From 2015 to 2021, Rahim did not pay the IRS the taxes withheld from his employees’ paychecks or file the required quarterly employment tax returns reporting those withholdings.

    Between October 2010 and October 2012, Rahim filed two personal income tax returns on which he reported owing substantial taxes, but did not pay all the taxes due. When the IRS attempted to collect the unpaid taxes, Rahim submitted a false statement that omitted valuable assets he owned, including a helicopter, a Bentley, a Lamborghini, and real estate in Great Falls. Approximately two weeks later, Rahim transferred ownership of the Great Falls property to his wife. He also paid personal expenses from his business bank accounts, including more than $889,000 toward his mortgages and more than $669,000 to purchase or lease cars, including three different Lamborghinis. Rahim withdrew more than $1.1 million in cash in amounts less than $10,000 to avoid triggering currency transaction reports from the bank. Rahim has not filed a personal income tax return since 2012 despite earning more than $34 million in gross income.

    In total, Rahim caused a loss to the IRS of at least $4.4 million.

    Rahim also defrauded customers who invested using his automated trading bots and by “copying” Rahim’s supposed trading activities that he posted to Discord. He marketed his products on websites named BotsforWealth, TradeAutomation, ProChartSignals, OptionCopier, CopyAndWin, SnipeAlgo, and QQQtrade. Rahim charged customers a subscription fee to access his bots and other software, and to copy his supposed trades. Rahim also offered a “lifetime membership” to which customers received access to Rahim’s private Discord channel, some of his products, and his “in-office” trading days. Rahim personally traded stocks for at least two individuals, claiming “We’ll hit home runs and make $500k+ per day very very often.” Instead, Rahim lost over $300,000 of his clients’ funds in eight months. 

    Rahim induced customers to subscribe to his products by using social media tools, including TikTok, YouTube, and Discord. He also sought to induce customers by claiming he was extremely wealthy, boasting about trading millions of dollars and posting about his large home, pool, and luxury cars, including his Lamborghini. He posted false information to his websites and to his social media accounts claiming to “beat the stock market every day” and promising extreme profit margins. His claim of regularly beating the market was exaggerated. In reality, he did not post his trades that lost money. In fact, Rahim realized over $500,000 in losses from February 2021 through December 2022, and did not earn millions in the market during this time period as he had claimed. As part of his fraud scheme, Rahim also created at least 20 Discord user profiles where he posted emojis, likes, and symbols showing agreement and excitement regarding Rahim’s posts. Rahim earned at least $1,397,000 in subscription fees during the course of his schemes.

    In addition to Rahim’s prison sentence, he agreed to forfeit over $1.3 million and must pay restitution to the IRS and to his investment fraud victims.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division and U.S. Attorney Erik S. Siebert for the Eastern District of Virginia made the announcement.

    IRS Criminal Investigation investigated Rahim’s tax fraud and FBI investigated his investment fraud. The case was consolidated for sentencing.

    Trial Attorneys William Montague and Ashley Stein of the Tax Division and Assistant U.S. Attorney Kimberly Shartar for the Eastern District of Virginia prosecuted Rahim for his tax fraud. Assistant U.S. Attorney Shartar prosecuted Rahim for his investment fraud.

    MIL Security OSI –

  • MIL-OSI Canada: Investing in infrastructure to support growth

    [. Maintaining and expanding the provincial road and bridge network is vital for growing communities and expanding market access for local industry.  

    If passed, Budget 2025 would invest more than $8.5 billion for the Ministry of Transportation and Economic Corridors’ three-year Capital Plan, a $333.7-million increase compared with Budget 2024. This total includes more than $4 billion over three years for transportation infrastructure projects to benefit rural communities across the province, as well as $2.1 billion over three years for projects in the Calgary region, and $2 billion for projects in the Edmonton region.

    “We are investing in the transportation and water infrastructure our communities need to address rapid growth, promote economic development and support a high quality of life. These investments help ensure our province remains the best place in Canada to live, work and raise a family.”

    Devin Dreeshen, Minister of Transportation and Economic Corridors

    The total capital investment in this year’s budget includes $2.6 billion for planning, design and construction of major highway and bridge projects. This work will create thousands of jobs across Alberta, improve traffic flow, and support the development of major trade corridors through projects such as twinning Highway 3 and Highway 11, and major improvements to Deerfoot Trail and Highway 881. Capital investment funding also includes more than $186 million over three years for more than 50 engineering projects to address future infrastructure needs as the province continues to grow.

    “These investments in Calgary’s roads and bridges are critical to supporting our growing city. Improved infrastructure means safer commutes, better connections for businesses and a stronger foundation for future growth.”

    Myles McDougall, MLA, Calgary-Fish Creek

    If passed, Budget 2025 would also include a $1.7-billion investment over three years for capital maintenance and renewal, which extends the life of the province’s existing road and bridge network, keeping the highway network safe and helping industry create and maintain well-paying jobs.

    “Building and fixing roads and bridges improves the productivity of Alberta’s economy. Budget 2025 continues investing in critical infrastructure using local materials and labour. The ARHCA applauds Alberta’s leadership and commitment to all modes of trade-enabling transportation.”

    Ron Glen, CEO, Roadbuilders and Heavy Construction Association

    In addition to improving and maintaining the provincial highway network, Alberta’s government has allocated $3.9 billion for capital grants to municipalities over the next three years. This includes funding for LRT projects in Edmonton and Calgary, as well as $5 million in new funding to support planning work for a new transit solution connecting the Calgary airport terminal with the future Blue Line LRT extension station.

    “Investing in infrastructure is critical to establishing a solid foundation for economic growth, sustainability and thriving communities. As our population continues to grow, we must make smart investments in roads, bridges, water and transportation infrastructure to ensure our communities and businesses remain vibrant, connected and ready for the future.”

    Deborah Yedlin, president and CEO, Calgary Chamber of Commerce

    If passed, targeted investments in Budget 2025 would also support the growth and prosperity of rural communities by providing $126.8 million over three years to municipalities through the Strategic Transportation Infrastructure Program. This program helps smaller municipalities improve critical local transportation infrastructure.

    Additionally, ongoing capital grants totalling $519.7 million over three years in water and wastewater infrastructure will ensure Albertans in every community have reliable access to clean drinking water and effective wastewater services.

    Finally, Budget 2025 would provide $240.1 million to build and repair water management infrastructure, including dams, spillways, canals and control structures. This investment provides irrigation for the agriculture sector and flood mitigation for Alberta communities.

    Budget 2025 is meeting the challenge faced by Alberta with continued investments in education and health, lower taxes for families and a focus on the economy.

    Quick Facts

    Regional Highlights

    North region

    • Budget 2025, if passed, invests $1.25 billion over three years in road and bridge construction projects to benefit the North region, including:
      • $101 million for Highway 63 twinning, north of Fort McMurray
      • $141 million for Highway 881 safety and road improvements
      • $87 million for construction of the La Crete bridge
      • $69 million for Highway 40 grade widening between Hinton and Grande Cache
      • $7 million for the La Loche Connector road – extending Highway 956 from La Loche, Saskatchewan to Fort McMurray
      • $4 million for twinning Highway 40 south of Grande Prairie
      • $127.5 million for Highway 60 Capital Improvements

    Central region

    • Budget 2025, if passed, invests $1.4 billion over three years in road and bridge construction projects to benefit the Central region, including:
      • $208 million for Highway 11 twinning between Sylvan Lake and Rocky Mountain House
      • $98 million for the Vinca Bridge replacement on Highway 38 (near Redwater) as part of work to enhance the high-load corridor

    South region

    • Budget 2025, if passed, invests $363 million over three years in road and bridge construction projects to benefit the South region, including:
      • $106 million for Highway 3 twinning (between Taber and east of Burdett)
      • $92 million for the Highway 2 Balzac Interchange Replacement
      • $24 million for the Highway 1A upgrade (Stoney First Nation)
      • $9 million for the QEII Highway and 40th Avenue interchange ramp (near Airdrie)

    Calgary

    • Budget 2025, if passed, invests $2.1 billion over three years in road and bridge construction projects, and municipal grants to benefit the Calgary region, including:
      • $173.1 million for the Calgary Rivers District and Event Centre
      • $484.8 million for Deerfoot Trail upgrades
      • $62.4 million for the Springbank Off-stream Reservoir (SR1) project
      • $11.9 million for the Bow River Reservoir (Ghost Reservoir Infrastructure Project)
      • $100 million for the Calgary Ring Road (West Stoney Trail)
      • $8 million for the completion of the Highway 201 Bow River Bridge on the southeast Stoney Trail
      • $26.5 million for the completion of the Stoney Trail and Airport Trail interchange

    Edmonton

    • Budget 2025, if passed, invests $2 billion over three years in road and bridge construction projects to benefit the Edmonton region, including:
      • $31.9 million for the Ray Gibbon Drive expansion
      • $31 million for the Terwillegar Drive widening from Rabbit Hill Road to Windermere Boulevard
      • $52.7 million for the Terwillegar Drive Expansion improvements to the interchange at SW Anthony Henday Drive.
      • $20.3 million for Highway 16A and Range Road 20 Safety Improvements
      • $17.2 million for Highway 19 twinning
      • $40.2 million for the Highway 2 and 65 Avenue Interchange in Leduc

    Multimedia

    • Watch the news conference

    MIL OSI Canada News –

  • MIL-OSI Canada: SIRT Concludes Investigation of Medical Distress Following Arrest in Prince Albert

    Source: Government of Canada regional news

    Released on March 14, 2025

    On April 1, 2023, the Saskatchewan Serious Incident Response Team (SIRT) was notified of an in-custody serious injury during a vehicle stop related to a stolen vehicle investigation in Prince Albert. The Civilian Executive Director accepted the notification as within SIRT’s mandate and directed SIRT to investigate. On April 26, 2023, during the course of SIRT’s investigation, the involved individual, a 40-year-old man, passed away in hospital. 

    SIRT has completed its investigation into this matter and the Civilian Executive Director’s public report can now be accessed online. (https://publications.saskatchewan.ca/#/categories/6145)

    SIRT’s mandate is to independently investigate incidents where an individual has died or suffered serious injury arising from the actions of on and off-duty police officers, or while in the custody of police, as well as allegations of sexual assault or interpersonal violence involving police.

    For additional information: SIRT Investigates Medical Distress Following Arrest in Prince Albert | News and Media | Government of Saskatchewan.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI: MEXC Lists AO (AO), Expanding Support for Decentralized Computing and AI Innovation with a 140,000 USDT Prize Pool

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, March 14, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency trading platform, announces the listing of AO (AO) on both spot and futures markets, scheduled for March 14, 2025, at 06:00 (UTC). To mark the occasion, MEXC is launching an Airdrop+ rewards event with a 140,000 USDT prize pool, providing users with multiple opportunities to engage with AO and explore its potential within the decentralized computing space.

    Unleashing AO: MEXC Supports the Future of Decentralized Computing and AI Agents

    AO is a decentralized ultra-parallel computing network that expands on-chain computation while ensuring all operations remain verifiable and permanently recorded. Built on Arweave’s permanent storage, AO features an actor-oriented architecture, where modular programs (actors) operate independently, select their own virtual machines (VMs), consensus mechanisms, and payment models, and communicate through a standardized messaging layer. With self-triggering execution and autonomous agent capabilities, AO enables efficient DeFi strategies, automated DEX trading, and AI-driven applications, unlocking a new era of decentralized computing.

    By listing AO, MEXC reinforces its commitment to supporting cutting-edge innovations at the intersection of AI, blockchain infrastructure, and decentralized computing. As demand for on-chain processing and AI-powered applications grows, MEXC provides AO with critical market access, deep liquidity, and an engaged global user base to accelerate its adoption and utility. Beyond just a listing, MEXC plays a crucial role in fostering the adoption and development of innovative blockchain projects across AI and DePIN. With a strong trading community, strategic marketing initiatives, and a track record of launching high-potential assets, MEXC provides projects like AO with the tools to gain visibility and traction within the crypto ecosystem. Through this listing, MEXC continues to connect users with the latest blockchain advancements, ensuring accessibility to next-generation decentralized infrastructure.

    Celebrate AO’s Listing with a 140,000 USDT Prize Pool

    MEXC, known for quickly listing trending tokens, expands its offerings with AO (AO). The AO/USDT trading market officially launched in the Innovation Zone on March 14, 2025, at 06:00 (UTC), followed by the introduction of the AO USDT perpetual futures at 06:10 (UTC), offering adjustable leverage from 1x to 50x with both cross and isolated margin modes.

    To celebrate the listing of AO (AO) on MEXC Spot and Futures, MEXC is launching a series of exclusive events from March 13, 2025, at 12:00 (UTC) – March 23, 2025, at 10:00 (UTC), giving both new and existing users the opportunity to earn USDT bonuses and other rewards while engaging with the AO ecosystem.

    • Event 1: Deposit to Share 72,000 USDT (New User Exclusive)

    New users who trade AO spot (≥ $100) or futures (≥ $500) can earn a 30 USDT bonus, with a total of 72,000 USDT up for grabs.

    • Event 2: Futures Challenge — Trade to Share 50,000 USDT in Futures Bonuses (Open to All Users)

    Each user can receive up to 5,000 USDT in Futures bonuses.

    • Event 3: Invite New Users & Share 18,000 USDT (Open to All Users)
    • Event 4: Spread the Word and Win Rewards

    Your Easiest Way to Trending Tokens

    MEXC aims to become the go-to platform offering the widest range of valuable crypto assets. The platform has grown its user base to 34 million by offering a diverse selection of tokens, high-frequency airdrops, competitive fees, and comprehensive liquidity. In 2024, MEXC launched a total of 2,376 new tokens, including 1,716 initial listings and 605 memecoins, with total airdrop rewards exceeding $136 million.

    About MEXC

    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 34 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

    Contact:
    Lucia Hu
    PR Manager
    lucia.hu@mexc.com

    Disclaimer: This content is provided by MEXC. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c978923c-0d40-43a9-a8e5-d3e0d353caba

    The MIL Network –

  • MIL-OSI USA: Welch Blasts Republicans’ Disastrous Budget and Trump’s Trade War: “This charade has to end!”

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)

    WASHINGTON, D.C. – During a Senate Finance Committee hearing today, U.S. Senator Peter Welch (D-Vt.) slammed Republicans’ disastrous Continuing Resolution (CR), which would make significant cuts to vital programs and services Vermonters rely on. In his remarks, Senator Welch criticized Republicans for relinquishing Congress’ constitutional responsibilities in favor of fealty to President Trump and criticized the Trump Trade War, which will raise costs for Vermont farmers, families, and homeowners through punitive tariffs. 
    “These tariffs…they’re a disaster for Vermont. They make no sense. Any economist you talk to says they’re bizarre. Bizarre because of the way they’re being implemented—on-and-off again. And that’s causing real suffering to Vermont farmers, to Vermont families, to Vermont homeowners who are going to be paying higher electricity bills, higher home heating bills, higher gasoline prices—and for what? For the whim of a President,” said Senator Welch. 
    “We have these punitive tariffs that make no sense, that are hurting everyone that we represent. And we pass a law saying that we have to close our eyes, block our ears, and not do anything? I vote no. This charade has to end!” 
    Watch Senator Welch’s remarks below: 

    Read Senator Welch’s remarks: 
    “There is a reality that we’re trying to deny but is inescapable: we have a cabinet of one. His name is Elon Musk. We have cabinet officials who come before us with distinguished records and probably everything in their bones wants them to serve well. But they are under the thumb of a President who demands fealty as opposed to service to this country.  
    “The best example of that is what’s happened with this so-called ‘Continuing Resolution.’ Congress is abdicating its Article I authority. The so-called CR is not on the level. What this CR does is not maintain current spending on the numbers and on the directions of how it will be spent. What it does is make significant cuts, but more importantly, it delegates to the President of the United States flexibility to move money around as he sees fit. That is a total surrender of our responsibility. It’s a disgrace!  
    “Now, on these tariffs that my colleague spoke about—they’re a disaster for Vermont. They make no sense. Any economist you talk to says they’re bizarre. Bizarre because of the way they’re being implemented—on again, off again. And that’s causing real suffering to Vermont farmers, to Vermont families, to Vermont homeowners who are going to be paying higher electricity bills, higher home heating bills, higher gasoline prices—and for what? For the whim of a President. 
    “And every single one of these cabinet officers who comes in here takes the pledge: ‘Mr. President, I know it makes no sense, but you’re the President, and I adore you Mr. President, we’ll do it.’  
    “And, in the CR that we’re going to be voting on, there is a provision that says the United States Congress—in whom the responsibility and authority for imposing tariffs rests— cannot change the tariffs that President Trump is imposing. That is so disgraceful. It’s a total surrender of our responsibility.  
    “We have these punitive tariffs that make no sense, that are hurting everyone that we represent. And we pass a law saying that we have to close our eyes, block our ears, and not do anything? I vote no. This charade has to end.” 

    MIL OSI USA News –

  • MIL-OSI USA: Governor Stein Announces Members of Task Force for Child Care and Early Education

    Source: US State of North Carolina

    Headline: Governor Stein Announces Members of Task Force for Child Care and Early Education

    Governor Stein Announces Members of Task Force for Child Care and Early Education
    lsaito

    Raleigh, NC

    On Monday, Governor Josh Stein announced the new North Carolina Task Force on Child Care and Early Education. The task force seeks to identify solutions to expand access to affordable, high-quality child care and early education across North Carolina and to support and grow the child care workforce.  

    “Access to high-quality child care ensures that North Carolina’s children can learn and thrive during their formative years, which shapes their educational trajectory,” said Governor Josh Stein. “Child care should be affordable and accessible. I am proud to bring together providers, legislators, business leaders, parents, community partners, and industry experts to figure out how we can best support North Carolina’s parents, early childhood educators, and the economy.”

    Click here for a fact sheet on Governor Stein’s task force.

    This week, Governor Stein highlighted gaps in North Carolina’s child care system during his first State of the State address. In North Carolina, there is only 1 child care spot for every 5 families who want one. Child care is also difficult to afford for many families in the state, with four in five families paying more than the recommended 7% of their income for infant care. Furthermore, the poverty rate for early childhood educators is 17.6% higher than the average of all NC workers, contributing to a shortage in the child care workforce.

    Governor Stein remains committed to ensuring that North Carolina’s children are able to learn and thrive in safe, nurturing, and supportive child care and early education settings. These investments will also support parents and employers by reducing the number of people who are pushed out of the workforce due to lack of child care.

    The members of the task force are as follows:

    • Lieutenant Governor Rachel Hunt (co-chair)
    • Senator Jim Burgin (co-chair)
    • Senator Jay Chaudhuri
    • Senator Ralph Hise 
    • Representative Sarah Crawford
    • Representative David Willis, Owner & Operator of Kiddie Academy
    • Mary Elizabeth Wilson, Chief of Staff and General Counsel, North Carolina Department of Commerce 
    • Candace Witherspoon, Division Director, Division of Child Development and Early Education, North Carolina Department of Health and Human Services 
    • Noelle Talley, Deputy Secretary for Advocacy, North Carolina Department of Administration 
    • Amar Majmundar, Policy Director, North Carolina Office of State Human Resources 
    • Amy Rhyne, Senior Director, Office of Early Learning, North Carolina Department of Public Instruction 
    • Dr. Mary Olvera, State Director of Teacher Education, Public Services, and Perkin Special Populations, North Carolina Community College System Offices
    • Rhonda Rivers, North Carolina Child Care Commission Chair; President of the Executive Board, North Carolina Early Education Coalition; Managing Partner/Co-owner of LeafSpring Schools of North Carolina
    • Gary Salamido, President and Chief Executive Officer, NC Chamber 
    • Amy Cubbage, President, North Carolina Partnership for Children
    • Lori Jones-Ruff, Interim Executive Director, Southwestern Child Development Commission, Inc.
    • Dan Rockaway, President, NC Licensed Child Care Association; Co-Founder and Owner of Sounds and Colors Child Care Centers
    • Ellen Pancoast, Vice President People Operations, Cone Health 
    • Michelle Logan, Vice President General Manager, Drug Product North America, Thermo Fisher
    • Ashton Clemmons, Associate Vice President, P12 Strategy and Policy, University of North Carolina System
    • Beth Messersmith, NC Senior Director, MomsRising; North Carolina Child Care Commission member; parent who has navigated the child care system
    • Erica Palmer Smith, Executive Director, NC Child
    • Theresa Roedershimer, Executive Director, North Carolina Early Childhood Foundation 
    • Meka Sales, Director, Special Initiatives, The Duke Endowment; Co-Chair, Invest Early, NC
    • Susan Gale Perry, Chief Executive Officer, Child Care Aware of America

    Read below for coverage of the announcement:

    Mar 14, 2025

    MIL OSI USA News –

  • MIL-OSI: WithSecure Corporation: SHARE REPURCHASE 14.3.2025

    Source: GlobeNewswire (MIL-OSI)

    WithSecure Corporation, STOCK EXCHANGE RELEASE, 14 March 2025 at 6.30 PM (EET)
           
           
    WithSecure Corporation: SHARE REPURCHASE 14.3.2025  
           
    In the Helsinki Stock Exchange      
           
    Trade date           14.3.2025    
    Bourse trade         Buy    
    Share                  WITH    
    Amount             20 000 Shares  
    Average price/ share    0,9139 EUR  
    Total cost            18 278,00 EUR  
           
           
    WithSecure Corporation now holds a total of 151 890 shares  
    including the shares repurchased on 14.3.2025    
           
    The share buybacks are executed in compliance with Regulation   
    No. 596/2014 of the European Parliament and Council (MAR) Article 5
    and the Commission Delegated Regulation (EU) 2016/1052.  
           
           
    On behalf of Withsecure Corporation    
           
    Nordea Bank Oyj      
           
    Janne Sarvikivi           Sami Huttunen    
           
           
    Contact information:      
    Laura Viita      
    Vice President Controlling, Investor relations and Sustainability
    WithSecure Corporation      
    Tel. +358 50 4871044      
    Investor-relations@withsecure.com      

    Attachment

    The MIL Network –

  • MIL-OSI Canada: Swearing-in of the 30th Canadian Ministry

    Source: Government of Canada – Prime Minister

    Today, at a ceremony presided by the Governor General, Her Excellency the Right Honourable Mary Simon, at Rideau Hall, Canada’s new Prime Minister, Mark Carney, was sworn in alongside members of the 30th Canadian Ministry.

    This new, leaner, focused Cabinet includes returning ministers, seasoned leaders, and new voices who will bring fresh ideas and perspectives to the team as it delivers on the things that matter most to Canadians, such as strengthening Canada’s economy and security.

    The new Cabinet is as follows:

    • Mark Carney, Prime Minister
    • Dominic LeBlanc, Minister of International Trade and Intergovernmental Affairs and President of the King’s Privy Council for Canada
    • Mélanie Joly, Minister of Foreign Affairs and International Development
    • François-Philippe Champagne, Minister of Finance
    • Anita Anand, Minister of Innovation, Science and Industry
    • Bill Blair, Minister of National Defence
    • Patty Hajdu, Minister of Indigenous Services
    • Jonathan Wilkinson, Minister of Energy and Natural Resources
    • Ginette Petitpas Taylor, President of the Treasury Board
    • Steven Guilbeault, Minister of Canadian Culture and Identity, Parks Canada and Quebec Lieutenant
    • Chrystia Freeland, Minister of Transport and Internal Trade
    • Kamal Khera, Minister of Health
    • Gary Anandasangaree, Minister of Justice and Attorney General of Canada and Minister of Crown-Indigenous Relations and Northern Affairs
    • Rechie Valdez, Chief Government Whip
    • Steven MacKinnon, Minister of Jobs and Families
    • David J. McGuinty, Minister of Public Safety and Emergency Preparedness
    • Terry Duguid, Minister of Environment and Climate Change
    • Nate Erskine-Smith, Minister of Housing, Infrastructure and Communities
    • Rachel Bendayan, Minister of Immigration, Refugees and Citizenship
    • Élisabeth Brière, Minister of Veterans Affairs and Minister responsible for the Canada Revenue Agency
    • Joanne Thompson, Minister of Fisheries, Oceans and the Canadian Coast Guard
    • Arielle Kayabaga, Leader of the Government in the House of Commons and Minister of Democratic Institutions
    • Kody Blois, Minister of Agriculture and Agri-Food and Rural Economic Development
    • Ali Ehsassi, Minister of Government Transformation, Public Services and Procurement

    This team reflects the ambition that makes Canada strong and it will work each day to protect workers, families, and businesses. It will take action to unite Canadians, defend Canada’s sovereignty in the face of unjustified trade actions by the United States, make Canada an energy superpower in both conventional and clean energy, create new trade corridors with reliable partners, and build one Canadian economy – the strongest economy in the G7.

    Quote

    “This team is built for immediate action and focused on protecting Canadian workers, supporting their families, and growing this great country. We are changing how things work, so our government can deliver to Canadians faster – and we have an experienced team that is made to meet the moment we are in. Our government is united and strong, and we are getting right to work.”

    Quick Facts

    • Mark Carney is Canada’s 24th Prime Minister.
    • The 30th Canadian Ministry consists of a total of 23 ministers, in addition to the Prime Minister.
    • The Cabinet is the central decision-making forum in government, responsible for its administration and the establishment of its policy. Its members are each responsible for individual portfolios or departments.

    Associated Link

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