Category: Finance

  • MIL-OSI: WISeKey WISeID Provides Healthcare Security with Decentralized Digital Identities

    Source: GlobeNewswire (MIL-OSI)

    WISeKey WISeID Provides Healthcare Security with Decentralized Digital Identities

    Geneva, Switzerland, March 5, 2025 –WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, today announces that its WISeID.COM introduces a groundbreaking approach to healthcare data security by enabling decentralized consultations through blockchain-secured digital identities, encryption, and self-sovereign identity (SSI) principles. This next-generation platform ensures that patients maintain full control over their medical records, granting access only to authorized healthcare providers through consent-based permissions, eliminating third-party control and significantly reducing risks of data breaches and identity theft.

    Traditional healthcare systems store patient records in centralized databases controlled by hospitals, clinics, and insurers, limiting interoperability while exposing sensitive data to cyber threats. With WISeID.COM, the healthcare industry can shift towards a decentralized, patient-centric model that enhances privacy, security, and accessibility. Patients can securely share specific medical information with healthcare professionals without exposing their entire health history, ensuring seamless telemedicine and cross-border consultations.

    Advanced Security with Post-Quantum Cryptography and Zero-Knowledge Proofs

    WISeID.COM integrates post-quantum cryptography and zero-knowledge proofs to safeguard medical records from emerging cyber threats. This ensures that:

    • Sensitive health data remains encrypted at all times.
    • Patients can selectively share medical records without disclosing unrelated health information.
    • Telemedicine services and cross-border healthcare providers can securely access patient records without manual transfers or centralized intermediaries.
    • Dynamic access controls enable temporary or conditional data sharing, granting permissions for a limited time or specific use cases.
    • Biometric authentication ensures that only the rightful patient can access and manage their health records.

    Addressing the Failures of Centralized Health Systems

    Current electronic health record (EHR) systems create data silos, limiting accessibility and making it difficult for patients to share their information across different providers or jurisdictions. These systems are frequent targets for cyberattacks, often resulting in the hacking, leaking, or unauthorized sale of sensitive medical data. Worse yet, patients typically lack visibility into who accesses their information, creating a lack of trust and control over their own health records.

    By leveraging blockchain-secured digital identities, WISeID.COM provides an alternative that:

    • Empowers patients with full ownership and control of their health data.
    • Reduces bureaucracy by enabling real-time, consent-based access to records.
    • Improves healthcare trust through a transparent and tamper-proof system.
    • Mitigates security risks associated with centralized storage and unauthorized access.

    A New Era for Secure and Interoperable Healthcare

    WISeID.COM represents a paradigm shift for the healthcare industry, bridging the gap between security, privacy, and interoperability. As healthcare increasingly moves towards digitalization, ensuring data sovereignty and patient control is crucial. WISeID.COM enables a future where health information is secure, verifiable, and instantly accessible, without compromising privacy or patient rights.

    About WISeKey

    WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

    Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact: Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com 
    WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611
    lcati@equityny.com

    The MIL Network

  • MIL-OSI: Inbank audited Annual Report for 2024

    Source: GlobeNewswire (MIL-OSI)

    The consolidated Annual Report 2024 has been included in the announcement and will be made available on the Inbank investor website at https://inbank.eu/investors/reporting. Compared to the unaudited Interim Report published on 25 February 2025, there are no differences in the audited results. 

    • In 2024, Inbank’s total net income reached 75.5 million euros, increasing by 26% year-on-year, driven by expanding margins and growing portfolio volumes across both the Baltics and CEE regions.
    • The consolidated normalised net profit for the year grew by 51% year-on-year to 15.4 million euros, resulting in a normalised ROE of 11.3%. Including one-off, the net profit  amounted to 12.2 million euros, growing 20% year-on-year and return on equity (ROE) was 9%. 
    • The loan and rental portfolio reached 1.15 billion euros increasing 11% year-on-year, while the deposit portfolio grew by 8% to 1.17 billion euros. At the end of 2024, Inbank’s total assets stood at 1.44 billion euros growing 9% year-on-year.
    • Gross Merchandise Value (GMV) reached a record 715 million euros, reflecting 4% year-on-year growth.
    • By the end of 2024, Inbank had 872,000 active customer contracts and over 6,000 active retail partners. 

    Key financial indicators as of 31.12.2024 

    Total assets EUR 1.44 billion 
    Loan and rental portfolio EUR 1.15 billion 
    Deposit portfolio EUR 1.17 billion 
    Total equity EUR 148 million
    Net profit EUR 12.2 million
    Return on equity 9.0%

    Inbank is a financial technology company with an EU banking license that connects merchants, consumers and financial institutions on its next generation embedded finance platform. Partnering with more than 6,000 merchants, Inbank has 872,000+ active contracts and collects deposits across 7 markets in Europe. Inbank bonds are listed on the Nasdaq Tallinn Stock Exchange.

    Additional information:
    Styv Solovjov
    AS Inbank
    Head of Investor Relations
    +372 5645 9738
    styv.solovjov@inbank.ee

    Attachments

    The MIL Network

  • MIL-OSI: Tyton Partners and Ufi Ventures Release Q4 2024 VocTech Market Report: Tax Increases, Workforce Policy Reforms, and Investor Sentiment in a Shifting Economy

    Source: GlobeNewswire (MIL-OSI)

    LONDON, March 05, 2025 (GLOBE NEWSWIRE) — Tyton Partners and Ufi Ventures today released their Q4 2024 VocTech Market Activity Report, providing an in-depth analysis of macroeconomic shifts, employment policy changes, and investment trends shaping the future of vocational education and workforce development. The report highlights ongoing economic pressures, policy reforms, and shifting investor confidence, offering insights into how these factors are reshaping the VocTech landscape.

    Key Findings from the Q4 2024 VocTech Market Activity Report

    • The UK budget raised taxes; in the short term, at least, the new burdens on business are negatively affecting hiring plans and morale. Schools received more money.
    • The Employment Rights Bill has been introduced to Parliament, and the Get Britain Working White Paper has been launched. These are significant reforms to the UK’s employment regulations; changes to provision for young people and to apprenticeships are likely the most important for the VocTech investment community.
    • Political turmoil across Europe and the election of Donald Trump are both likely to have a materially negative effect on the green transition and associated jobs and investments.
    • Demographics are becoming a hot topic. Europe – including the UK – is getting older, and this could have a major effect on productivity and living standards. Immigration as an answer will remain controversial.
    • Deal sizes and volumes are at historically low levels, but some deals are still being made; anecdotally, many are more optimistic about 2025.

    “Tax increases and shifting employment policies are reshaping business strategies,” said Nick Kind, Managing Director at Tyton Partners. “Investors and training providers must navigate these changes to support workforce resilience and sustainable growth.”

    “With demographic changes and political uncertainty shaping the future of work, investment in skills development is more crucial than ever,” said Helen Gironi, Director of Ufi Ventures.

    With tax increases, workforce policy changes, and geopolitical uncertainty impacting hiring and investment, the demand for adaptable and resilient skills development remains critical. Tyton Partners and Ufi Ventures will continue to analyse VocTech investment and policy trends, with key insights shaping the upcoming release of The Jobs Frontier 2025 later this year.

    Read Key Learnings from VocTech Market Activity Q4 2024 here.

    About Tyton Partners

    Tyton Partners is the leading provider of strategy consulting and investment banking services to the global knowledge and information services sector. With offices in Boston and New York City, the firm has an experienced team of bankers and consultants who deliver a unique spectrum of services from mergers and acquisitions and capital markets access to strategy development that helps companies, organizations, and investors navigate the complexities of the education, media, and information markets. Tyton Partners leverages a deep foundation of transactional and advisory experience and an unparalleled level of global relationships to make its clients’ aspirations a reality and to catalyze innovation in the sector. Learn more at tytonpartners.com.

    About Ufi Ventures

    Ufi Ventures is the investment arm of Ufi VocTech Trust. Ufi supports the adoption and deployment of technology to improve skills for work and deliver better outcomes for all. By leveraging its depth of experience Ufi Ventures supports its growing portfolio through access to capital, and its wide expert pool and network. Learn more at www.ufi.co.uk/ventures.

    For media inquiries, contact:
    Zoe Wright-Neil
    Tyton Partners, Director of Marketing and Business Development
    zwrightneil@tytonpartners.com

    The MIL Network

  • MIL-OSI USA: Crapo Applauds President’s Vision for Restoring Economic Opportunity

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo
    Washington D.C.–U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) issued the following statement after President Donald Trump’s Joint Address to Congress.
    “Tonight, President Trump detailed his early accomplishments and outlined an ambitious agenda.  In just a few short weeks, this Administration has taken great strides to correct course from the last four years by securing our homeland, re-establishing American strength, unleashing American energy and boldly addressing the size and scope of the federal government in an historically transparent fashion. 
    “Looking forward, one of the President’s top priorities this year–which I share as Chairman of the Senate Finance Committee–is to prevent an over-$4 trillion tax hike on American workers and businesses by permanently extending and building on his signature tax bill from 2017, the Tax Cuts and Jobs Act.
    “If President Trump’s tax cuts are not renewed before the end of this year, average American families will be hit with thousands of dollars in tax increases, millions of small business owners will see their tax rates skyrocket, and millions of jobs will be in jeopardy.  Idahoans alone will see their taxes go up by an average of $2,554 in 2026.  Working class Americans have the most on the line, as the majority of the tax cut’s expiration would fall on those making less than $400,000 per year. 
    “The President has been clear: we must permanently extend the Trump Tax Cuts and prevent a massive tax hike on American workers, families and small businesses.
    “Americans across the board benefited from a roaring economy in the wake of President Trump’s 2017 tax cuts.  Workers got ahead as household incomes increased and every demographic benefitted from a strong labor market.  The unemployment rate plummeted to the lowest levels in 50 years and the largest wage increases were seen by the lowest-earning workers.  Business investment increased productivity and innovation, bringing companies back home and making the U.S. economy the envy of the world.
    “Extending this current, proven tax policy–and building upon it–is the best way to restore economic prosperity and opportunity for Idaho’s hardworking families, many still struggling to recover from the historic inflation of the last four years.
    “Failure to extend the Trump tax cuts is simply not an option.  I am committed to working with the Administration and congressional leadership to make these tax cuts permanent and provide relief and certainty to families and businesses across America.”

    MIL OSI USA News

  • MIL-OSI USA: Crapo Statement on President Trump’s Joint Address to Congress

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo
    Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho) issued the statement below following President Trump’s Joint Address to Congress.

    To view an abbreviated version of Senator Crapo’s remarks, click HERE or the image above.
    “Tonight, President Trump detailed his early accomplishments and outlined an ambitious agenda.  In just a few short weeks, this Administration has taken great strides to correct course from the last four years by securing our homeland, re-establishing American strength, unleashing American energy and boldly addressing the size and scope of the federal government in an historically transparent fashion. 
    “Looking forward, one of the President’s top priorities this year–which I share as Chairman of the Senate Finance Committee–is to prevent an over-$4 trillion tax hike on American workers and businesses by permanently extending and building on his signature tax bill from 2017, the Tax Cuts and Jobs Act.
    “If this popular tax law expires at the end of this year, average American families will be hit with thousands of dollars in tax increases, millions of small business owners will see their tax rates skyrocket, and millions of jobs will be in jeopardy.  Idahoans alone will see their taxes go up by an average of $2,554 in 2026.  Working class Americans have the most on the line, as the majority of the tax cut’s expiration would fall on those making less than $400,000 per year. 
    “The President has been clear–we must permanently extend the Trump Tax Cuts and prevent a massive tax hike on American workers, families and small businesses.
    “Americans across the board benefited from a roaring economy in the wake of President Trump’s 2017 tax cuts.  Workers got ahead as household incomes increased and every demographic benefitted from a strong labor market.  The unemployment rate plummeted to the lowest levels in 50 years and the largest wage increases were seen by the lowest-earning workers.  Business investment increased productivity and innovation, bringing companies back home and making the U.S. economy the envy of the world.
    “Extending this current, proven tax policy–and building upon it–is the best way to restore economic prosperity and opportunity for Idaho’s hardworking families, many still struggling to recover from the historic inflation of the last four years.
    “Failure to extend the Trump tax cuts is simply not an option.  I am committed to working with the Administration and congressional leadership to make these tax cuts permanent and provide relief and certainty to families and businesses across America.”

    MIL OSI USA News

  • MIL-OSI Australia: Interview with Olivia Caisley, Afternoon Briefing, ABC

    Source: Australian Treasurer

    Oliva Caisley:

    To unpack that and much, much more today, let’s bring in our political panel, LNP Senator Paul Scarr and Assistant Minister for Competition Andrew Leigh.

    Welcome to you both to the program. There is plenty of news to get through today. Paul let’s start with you quickly first. You’re in Queensland, which is in the path of Cyclone Alfred.

    Paul Scarr:

    Yep.

    Caisley:

    How prepared is your community?

    Scarr:

    I think the community is as prepared as it can be. There’s very close liaison between all 3 levels of government: the federal government, the state government, the local government authorities. Sandbags are being made available, people are being given warnings and suggestions and recommendations as to how to prepare. And the community’s coming together, as Queenslanders always come together, whether or not it’s in North Queensland or in the southeast corner, we come together at times like this and help each other.

    Caisley:

    And Paul, we just heard there before the WA Premier Roger Cook referring to the American Vice President as a ‘knob’ over that extraordinary argument that took place in the Oval Office over the weekend. Is that an appropriate way for a state leader to be speaking?

    Scarr:

    I don’t believe so. I don’t believe it is. And I don’t believe it’s helpful. And from my perspective, I think our focus here in Australia should be on Australia’s commitment to the people of the Ukraine, and in respect of that commitment, it’s quite bipartisan.

    And before the last election, the Coalition government had a very strong position with respect to assisting the people of Ukraine and Ukraine’s right to its sovereignty, its own secure sovereign borders, and that policy has continued, notwithstanding there was a change in government after the last election. So, I think we should focus on what Australia’s policy is.

    Caisley:

    And Andrew, what did you think?

    Andrew Leigh:

    Well, US politics is endlessly interesting, and it’s always tempting to express your view every time something happens over in the US. But we’re really focused right now on the challenges that Australia faces.

    As Paul said, preparing for Cyclone Alfred, which is looking like making landfall either on Thursday or Friday of this week.

    I would urge any of your viewers who are able‑bodied to consider signing up for EV CREW, a great on‑the‑ground operation which allows you to help out in the local community.

    And as Paul said, there’s bipartisan support for Ukraine. Australia has given $1.5 billion in assistance, of which $1.3 billion is military aid.

    Caisley:

    We have just seen in the past couple of hours the United States announcing that it’s actually going to freeze aid or support to Ukraine. Could I get both of your response to that? Let’s start with you, Paul.

    Scarr:

    Well, again, that’s a matter for the United States government, and again, I think we should focus on what Australia’s position is. And I attended a campaign rally on the third anniversary of the invasion of Ukraine. There were representatives, again, from all levels of government, both major political parties in Australia, and we’re on the same page in terms of continuing to provide our support to the people of Ukraine. And that’s the way it should be.

    Caisley:

    I was watching Donald Trump’s press conference in the early hours of this morning, and in it, he said that Volodymyr Zelenskyy needs to show more appreciation. We then have seen these reports that aid will be paused until Volodymyr Zelenskyy demonstrates a good faith commitment to peace.

    How does this at all, or if at all, Andrew, change the security equation for Australia?

    Leigh:

    Well, you’ve seen in London a range of European powers stepping in and taking important steps towards peace. It is really important that we see peace in Ukraine. This is a war started by Russian aggression. Australia has stood steadfastly with the people of Ukraine.

    I joined with a range of parliamentarians who met with the Ukrainian Ambassador to Australia during the most recent parliamentary sitting to again show the solidarity of Australians for Ukraine.

    We’ve got the Bushmasters there, the Abrams tanks. We have been a strong supporter of the people of Ukraine, as is appropriate for a fellow democracy seeing the brutality that has been waged on the people of Ukraine through an utterly unprovoked war started by Russia.

    Caisley:

    There’s bipartisanship when it comes to support for Ukraine, but we have seen a point of difference emerging between Peter Dutton and Anthony Albanese when it comes to boots on the ground or potential peacekeeping missions. The Prime Minister today not ruling out sending troops over there; this is in contrast to the Opposition Leader.

    Paul, on the politics of this, is Labor outmanoeuvring the Coalition here on an issue that the Coalition usually feels pretty comfortable in?

    Scarr:

    I don’t believe so. And I think the Coalition was in government when Russia launched its illegal invasion of Ukraine, and we were at the forefront in terms of an appropriate policy response to that, including providing humanitarian places for refugees from Ukraine to Queensland, many of whom I met shortly after their first arrival.

    In terms of so‑called boots on the ground, I think the point Peter Dutton has made, and I think he’s correct, the onus should really be on the Europeans in terms of providing boots on the ground as peacekeepers, and they’ve got the capacity to do that. Australia has its own obligations in the Asia‑Pacific region and from my perspective, given the Europeans have the capacity and we have our own obligations in our own region, I think that’s where our focus should be.

    Caisley:

    Okay. Andrew, I just wanted to get a sense from you from the government’s perspective. So, this openness, I guess, to having boots on the ground is a shift or 180 from the Prime Minister’s office position yesterday. They provided the ABC with a statement saying the deployment of troops wasn’t under consideration. Today, there has been a shift in that view. What has, I guess, prompted that change?

    Leigh:

    Well, Olivia, I think we probably don’t want to get ahead of ourselves in this. The Prime Minister has simply said that Australia would consider such a request if it was to come through.

    Paul’s quite right that the primary role is going to be played here by the Europeans, as it has been throughout this terrible conflict.

    Caisley:

    Do you think, Paul, that it’s even possible to get out from under the US security umbrella, given how close we are as allies with the United States? Is it something that should be considered given the, I guess, particularly febrile environment in the Oval Office right now?

    Scarr:

    Well, the United States is one of our closest allies and our most important ally, and I think that will continue for decades and decades to come. And the historical links between the 2 countries and, more recently, developments such as AUKUS just demonstrate the continuity of that relationship. And I just don’t see any change in that relationship, either in the short term, medium term, or even the long term.

    Caisley:

    Andrew, the Coalition today say they want to stop public servants from working from home. The Independent Senator David Pocock has described this as a culture war distraction. What’s your response to that?

    Leigh:

    Well, another day, another attack on the public service from Peter Dutton. First, he’s saying that we should fire one in five public servants and go back to the days of Robodebt and excessive waiting times. Now he’s suggesting that the kind of modern working arrangements that big Australian corporations extend to their workers shouldn’t exist in the public service.

    What that would mean is that women with caring responsibilities, people with disabilities, would be fired in droves from the public service, and the Australian public would lose out from having less capable people working in the public service.

    Just to take one example, the wait time for a parental leave application to be processed when we came to office was 31 days. We’ve got that down to 3 days. We had a backlog of 42,000 veterans claims, and we’ve dealt with 97 per cent of that backlog.

    You can’t fire one in five public servants without dramatically worsening the public services in Australia and going back to Robodebt and long wait times.

    Caisley:

    Paul, I’ll give you an opportunity to defend the Coalition policy. Why is this a good idea to crack down on public servants working from home?

    Scarr:

    I think we’ve seen across the whole economy, both private sector and the public sector, dealing with this phenomenon that during the COVID‑19 pandemic, more and more people were working from home, and there were reasons for that. But there’s been a slow return back to the workplace, and a lot of the private sector businesses I speak to talk about the concern they’ve had in terms of collaboration in the office, in terms of communication, in terms of productivity.

    And I think the obvious point is being made that when you’ve got people working together in the workplace, collaborating, having those hundreds of interactions you have every single day in a workplace, you’re more productive and quite often, you achieve better results.

    So, the other thing to note is all existing agreements and arrangements will be respected. The simple policy point is if you are going to have a working from home policy, it needs to suit the individual, but it also needs to suit the workplace, and that means people need to work collaboratively together and adopt a common‑sense approach.

    Caisley:

    Just on that, though, Paul, can you give me a sense, is this something that’s being brought up with you in your electorate, is this a concern that’s been raised with you by your constituents?

    Scarr:

    I think the concern about the work from home phenomenon has been raised with me ever since we started coming out of the COVID‑19 pandemic. And just to give you one example, in many of the professional services firms, when I was a young lawyer I’d attend the workplace and you’d have the benefit of that interaction with mentors, with leaders, get all that guidance you got on an ad hoc basis, and a lot of young workers, new employees, have missed out on that because of this increase in working from home.

    So, I think this isn’t an issue to be simplified. I note Andrew’s political spin on it, but there are real issues here in terms of how our workplaces function and how they can be the most productive in terms of what they’re doing.

    Leigh:

    Olivia, if I can just come back on that.

    Caisley:

    Yes, please.

    Leigh:

    I mean, you can either have the position that you want to have a reasonable discussion in respect of workplace arrangements, or you can have the announcement that the Coalition made today that all public servants are coming back into the office.

    Either Paul is rejecting the policy that Jane Hume put forward, or else he is supporting that, and that would immediately mean that a whole lot of people would lose their jobs who have disabilities and caring responsibilities.

    The fact is the Coalition want to play these kind of ideological games. They want to pretend that public servants are all in Canberra. Two‑thirds of our public servants are outside Canberra, and tens of thousands are working in the region.

    Public servants are out there processing tax returns, dealing with cyber security, keeping Australians safe from terrorist threats, dealing with biosecurity challenges. You simply cannot manage a 21st‑century Australia by firing one in five public servants, as the ideologically driven Dutton Opposition would do.

    Caisley:

    So, Paul, maybe if I just go back to you quickly there. I mean, clearly, the public service is in the Coalition’s sights if they do form government. Ultimately, we saw Peter Dutton just a couple of weeks ago on making that Medicare announcement that ultimately he’ll help fund that by, I guess, cutting public servant jobs.

    Scarr:

    Well, I just want to come back to some of the points which Andrew made, and I think it’s really important to note that people need to consider what my good friend Jane Hume said in its totality. And in its totality, it referred to the fact that existing working arrangements will of course be respected, will of course be respected. And that’s the way it should be.

    But in terms of moving forward, you need to have work from home arrangements – and it doesn’t matter if you’re the private sector or the public sector – which are in the best interests of both the employer, in this case the public service, the department, and also the employee.

    So, I think what we’re seeing from Labor is a really disappointing scare campaign. A lot of businesses, a lot of workplaces across the world have struggled with this working from home phenomenon which broke out during the COVID‑19 pandemic, or certainly accelerated, and we’re now trying to achieve more balance.

    Caisley:

    Look, we do have some breaking news now. China will impose retaliatory additional tariffs of 10 to 15 per cent on certain US agricultural imports from March 10. That’s according to a statement from the Chinese Finance Ministry. These goods will include soy beans, pork, beef, fruits, vegetables and dairy products and those duties to kick in next week by the looks of things. I know this is just happening now, but Paul, do you have a response to that?

    Scarr:

    Well, I’d just say from an Australian perspective that tariffs, trade barriers are simply not in Australia’s best interests as a general principle. We are a trading nation. We depend upon trade. And free and open trade is so important to Australia’s economy.

    So, it’s up to the Chinese government what its policy is, but from Australia’s perspective, looking at Australia’s perspective, we are a trading nation. And tariffs and other trade barriers are not in our best interests no matter who applies them.

    Caisley:

    I mean, and Andrew, I’d love your thoughts on this too. At the moment, Australia’s waiting to see if we’ll be slapped with 25 per cent tariffs on steel and aluminium. Now we’re hearing that China is slapping its own tariffs, retaliatory ones on the US. Do you have a view on this?

    Leigh:

    Well, economists disagree about a range of issues, but one thing on which there’s near universal consensus is on the benefits of open markets. Paul’s dead right on tariffs. A trade war doesn’t have any winners. Australia has been benefitted from open markets and from our engagement with the rest of the world.

    We’re just 0.3 per cent of the world’s population, a small share of the world’s economy, and trade allows us to specialise in what we do best and enjoy higher living standards than if we were cut off from the rest of the world.

    So, we’ll continue to argue for trade liberalisation, to work with through multilateral organisations for an open trading system, and to engage with like‑minded partners in order to spread the benefits of open markets, which have been such a key driver of prosperity over recent decades.

    Caisley:

    Andrew, Paul, thank you so much for your time this afternoon.

    Leigh:

    Thanks, Olivia. Thanks, Paul.

    Caisley:

    I note that date, the 10th of March, probably no coincidence there because that is when the US tariffs on China are due to take place as well.

    MIL OSI News

  • MIL-OSI: AGM Group Holdings Inc. Announces Closing of $5.4 Million Offering

    Source: GlobeNewswire (MIL-OSI)

    Beijing, March 04, 2025 (GLOBE NEWSWIRE) — AGM Group Holdings Inc. (“AGM Holdings” or the “Company”) (NASDAQ: AGMH), an integrated technology company specializing in the assembling and sales of high-performance hardware and computing equipment, today announced the closing of its offering of 16,390,000 Class A ordinary shares and accompanying warrants to purchase up to an aggregate of 16,390,000 Class A ordinary shares at a combined offering price of $0.33. The warrants will expire on the fifth anniversary from the date of issuance, will be exercisable immediately at an initial exercise price of $0.33 per share, subject to adjustment upon a one-time reset on the Reset Date (as described in the warrants), and subject to a floor price described therein. The warrants may also be exercised on an alternative cashless basis pursuant to which the holder may exchange each warrant for 1.2 Class A ordinary shares.

    Gross proceeds to the Company, before deducting placement agent’s fees and other offering expenses, were approximately $5.4 million. The offering was closed on March 4, 2025.

    Maxim Group LLC acted as sole placement agent in connection with the offering.

    The securities above were offered pursuant to a registration statement on Form F-1, as amended, (File No. 333-282420) which was declared effective by the Securities and Exchange Commission (the “SEC”) on February 28, 2025. The offering was made only by means of a prospectus forming part of the effective registration statement. Electronic copies of the prospectus relating to this offering, when available, may also be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022, Attention: Syndicate Department, by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com. In addition, copies of the final prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

    About AGM Group Holdings Inc.

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

    Forward-Looking Statements

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

    For more information, please contact:

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

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

    The MIL Network

  • MIL-OSI China: Canada announces detailed counter tariff package against US

    Source: China State Council Information Office

    An employee removes U.S. alcohol products from a shelf at a Liquor Control Board of Ontario store in Oakville, Ontario, Canada, on March 4, 2025. [Photo/Xinhua]

    The Canadian federal government on Tuesday announced a detailed tariff package after Prime Minister Justin Trudeau vowed that Canada will not back down from a fight against the trade war initiated by U.S. President Donald Trump.

    According to a news release issued by the Finance Ministry, the first phase of Canada’s response includes tariffs on 30 billion Canadian dollars (about 21 billion U.S. dollars) in goods imported from the United States, effective as of 12:01 a.m., March 4. The list includes products such as orange juice, peanut butter, wine, spirits, beer, coffee, appliances, apparel, footwear, motorcycles, cosmetics, and certain pulp and paper products.

    The additional countermeasures on 125 billion Canadian dollars (about 89 billion U.S. dollars) in imports from the United States would be from a list of goods open for a 21-day comment period which includes products such as electric vehicles, fruits and vegetables, beef, pork, dairy, electronics, steel, aluminum, trucks, and buses, the release said.

    The government is also taking steps to mitigate the impact of these countermeasures on Canadian workers and businesses by establishing a remission process to consider requests for exceptional relief from the tariffs, the release said.

    All options remain on the table as the government considers additional measures, including non-tariff options, the release said.

    Trudeau said during his speech to the nation earlier in the day that Canada will also be challenging the U.S. illegal actions by filing dispute resolution claims at the World Trade Organization and through the Canada-U.S.- Mexico Agreement, or the free trade mechanism in North America that was renegotiated by Trump in his last term.

    The counter tariffs will remain in place until the U.S. tariffs are withdrawn and not a moment sooner, said Trudeau.

    MIL OSI China News

  • MIL-OSI China: EU chief proposes 800B-euro defence plan to rearm Europe

    Source: China State Council Information Office

    European Commission President Ursula von der Leyen speaks during a press conference after a European Council summit in Brussels, Belgium, Dec. 19, 2024. [Photo/Xinhua]

    European Commission President Ursula von der Leyen on Tuesday unveiled an 800-billion-euro (844.6-billion-U.S. dollars) plan to significantly increase defence spending across the bloc.

    She said that in response to escalating security threats across the European Union (EU), Europe had entered “an era of rearmament.”

    In a letter written to EU leaders ahead of Thursday’s European Council, von der Leyen unveiled the “ReArm Europe” plan and emphasised the urgency of strengthening Europe’s defence capabilities, citing mounting geopolitical tensions, particularly in light of Russia-Ukraine military conflict and concerns over the future of U.S. support for the North Atlantic Treaty Organization (NATO).

    “Europe is ready to massively boost its defence spending. Both to respond to the short-term urgency to act and to support Ukraine but also to address the long-term need to take on much more responsibility for our own European security,” she said.

    “The question is no longer whether Europe’s security is threatened in a very real way,” von der Leyen said. “The real question in front of us is whether Europe is prepared to act as decisively as the situation dictates.”

    According to a statement published by the European Commission, the “ReArm Europe” plan is a comprehensive set of proposals aimed at unlocking financial resources to support national defence investments both in the short term and over the next decade.

    The initiative consists of five key measures designed to strengthen Europe’s defence capabilities and bolster military support for Ukraine.

    A core component of the plan involves adjusting EU fiscal rules to allow member states to ramp up defence spending without triggering budgetary penalties.

    Von der Leyen announced that the European Commission will propose activating the national escape clause of the Stability and Growth Pact, enabling governments to expand their military budgets without breaching EU deficit limits.

    “If Member States were to increase their defence spending by 1.5 percent of GDP on average, this could create fiscal space of close to 650 billion euros over four years,” she said.

    Another key element of the plan is the creation of a 150-billion-euro loan program to help EU countries jointly invest in critical military assets. The initiative aims to enhance collective procurement efforts, reduce costs, and improve interoperability across European armed forces.

    “We are talking about pan-European capability domains: air and missile defence, artillery systems, missiles and ammunition, drones and anti-drone systems, as well as cyber defence and military mobility,” von der Leyen said.

    Joint procurement efforts under this scheme would not only reinforce EU security but also allow member states to provide Ukraine with additional military aid, she said.

    Von der Leyen also proposed leveraging the EU budget to support defence-related investments. She announced member states would be given additional incentives to use cohesion policy programmes to boost military spending.

    The final two pillars of the ReArm Europe plan focus on attracting private sector investment in defence through specific initiatives and through increased involvement from the European Investment Bank.

    “We will continue working closely with our partners in NATO,” von der Leyen said. “This is Europe’s moment, and we are ready to step up.” (1 euro = 1.06 U.S. dollar)

    MIL OSI China News

  • MIL-OSI Security: Hollywood Woman Found Guilty of Running Tech-Savvy Drug Delivery Business that Caused Three Near-Fatal Fentanyl Overdoses

    Source: Office of United States Attorneys

    LOS ANGELES – A Hollywood woman was found guilty by a jury today of running a tech-savvy drug delivery business that employed drivers – including a part-time actor – and resulted in three near-fatal fentanyl overdoses.       

    Mirela Todorova, 36, a.k.a. “Mimi,” was found guilty of one count of conspiracy to distribute controlled substances resulting in serious bodily injury, one count of distribution of fentanyl, three counts of distribution of fentanyl resulting in serious bodily injury, one count of possession with intent to distribute methamphetamine, one count of possession with intent to distribute cocaine, one count of possession with intent to distribute MDMA (Ecstasy), and one count of making false statements to federal investigators.

    The jury also found that Todorova must forfeit $498,555 in drug proceeds to the government.

    “This defendant used her knowledge of technology to peddle the poison of fentanyl – despite knowing the pills she sold ran the risk of killing people,” said Acting United States Attorney Joseph McNally. “Investigating and prosecuting these cases saves lives. I commend our local and federal partners for stopping this dangerous criminal organization and bringing justice to the victims here.”

    “This case highlights the importance of looking at every overdose incident,” said Matthew Allen, Special Agent in Charge of the Drug Enforcement Administration’s Los Angeles Field Division. “This case started with a single overdose and led to the identification of the dealer responsible for multiple overdoses. This drug distributor had knowledge of the harm she was creating and didn’t care.”

    According to evidence presented at a nine-day trial, Todorova from June 2020 to March 2021 orchestrated a technology-savvy drug trafficking operation in which she provided cellphones and narcotics – including counterfeit oxycodone pills that contained fentanyl – to drivers to facilitate the delivery of drugs to customers across Los Angeles County and elsewhere. Todorova – who is a citizen of the United States, Canada, and Bulgaria – also delivered drugs herself.

    Several times throughout the drug trafficking conspiracy, Todorova visited Mexico, where she continued to manage her drug operation while tending to her pet jaguar, “Princess.”

    To carry out the scheme, Todorova hired Mucktarr Kather Sei, 39, of Koreatown, as a driver and, later, gave him the keys to her Hollywood drug stash house, allowing him to run the drug ring’s operations while continuing to direct him from abroad.

    Despite warnings from customers that the oxycodone pills she was selling were laced with fentanyl and potentially fatal, Todorova continued to sell them. From November 2020 to January 2021, three customers of Todorova’s drug ring suffered near-fatal overdoses of fentanyl-laced oxycodone pills. Despite knowing their danger, Todorova continued to sell these fentanyl-laced pills until February 2021.

    In March 2021, law enforcement executed search warrants on Todorova’s person, car, and home, seizing numerous drug trafficking materials and narcotics, including lab-confirmed methamphetamine, cocaine, and MDMA, as a well as a single purported oxycodone pill laced with fentanyl.

    In December 2021, Todorova knowingly made series of false statements to federal law enforcement official when she said she thought the drugs seized from her apartment were vitamins, she never instructed anyone how to package or make drugs, and she only met Sei twice.

    United States District Judge André Birotte Jr. scheduled a September 12 sentencing hearing, at which time Todorova will face a mandatory minimum sentence of 20 years in federal prison and a statutory maximum sentence of life imprisonment. She has been in federal custody since April 2021.

    Sei and two other defendants charged in this case – Christopher Y. Moreno Núñez, 29, of Pacific Palisades, and Ashley Alicia Nicole Johnson, 34, of Los Angeles – each pleaded guilty last year to felony narcotics distribution charges and will be sentenced in the coming months. Sei has been in federal custody since February 2022.

    This case is the result of an investigation by the Los Angeles Police Department and the Drug Enforcement Administration’s Overdose Justice Task Force, which was created to address opioid-related deaths in the greater Los Angeles area, most of which are caused by the synthetic opioid fentanyl. Under the Overdose Justice program for the DEA’s Los Angeles Field Division, DEA agents collaborate with local law enforcement to analyze evidence to determine if there are circumstances that might lead to a federal criminal prosecution, and, if so, proactively target the drug trafficker.

    Assistant United States Attorney Patrick Castañeda of the International Narcotics, Money Laundering, and Racketeering Section, Assistant United States Attorneys Jason C. Pang and Suria M. Bahadue of the General Crimes Section, and Assistant United States Attorney James E. Dochterman of the Asset Forfeiture and Recovery Section are prosecuting this case.

    MIL Security OSI

  • MIL-OSI: Matrixport Subsidiary Fly Wing Receives Major Payment Institution License from MAS in Singapore

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, March 04, 2025 (GLOBE NEWSWIRE) — Fly Wing Technologies Pte Ltd (“Fly Wing”), a wholly owned subsidiary of Matrixport, the world’s leading and largest one-stop crypto financial services platform in Asia, today announced that it has been granted the Major Payment Institution (“MPI”) License by the Monetary Authority of Singapore (“MAS”).

    With this license approval, Fly Wing will continue building its role as a trusted Over-the-Counter (“OTC”) desk in Singapore. This license follows the in-principle approval received in October, underscoring Fly Wing’s commitment to regulatory compliance and operational excellence.

    John Ge, Co-founder and CEO of Matrixport, stated, “We are thrilled that Fly Wing has received its license from the MAS. This marks a significant step in our ongoing expansion across the Asia-Pacific region. We look forward to providing high-quality Digital Payment Token services to users in Singapore.”

    Having received its license from the MAS, Fly Wing is well-positioned to build a strong foundation for Fly Wing’s long-term growth, driving continuous innovation in the digital finance sector. Moving forward, Fly Wing will continue to offer innovative Digital Payment Token services securely and transparently and will continue to optimize blockchain-driven Digital Payment Token services, enabling seamless access for users entering the Web 3.0 industry.

    About Fly Wing Technologies Pte Ltd

    Founded in 2019, Fly Wing Technologies Pte. Ltd. (“Fly Wing”) is a wholly owned subsidiary of Matrixport, a leading digital asset financial services platform in Asia. Fly Wing serves a diverse clientele, including crypto miners, trading firms, investment firms, and high-net-worth individuals from both crypto and traditional finance. The company engages in OTC services for customers to on- and off-ramp Digital Payment Tokens, facilitating over $100 million in monthly transactions and providing liquidity for major cryptocurrencies.

    Fly Wing has received the MPI License from MAS to provide Digital Payment Token services for OTC trading in Singapore.

    Fly Wing official website: https://www.flywing.com/

    About Matrixport

    Founded in 2019, Matrixport is the world’s leading all-in-one hub for crypto financial services. The platform is committed to providing every user with a personalized Super Account that integrates crypto trading, investment, loan, custody, RWA, research and more. With $6 billion in AUM (assets under management), Matrixport offers global users diverse crypto-financial solutions designed for optimal capital efficiency and sustainable returns.

    As a Group and through its local subsidiaries, Matrixport has received the Trust or Company Service Provider / Money Lender Licenses in Hong Kong, and the FINMA Asset Management License in Switzerland. The company operates as an Appointed Representative in the UK, is registered as an MSB in the US, and is a member of Switzerland’s FINMA SRO-VFQ. It was recognized by CB Insights as one of the “50 Most Promising Blockchain Companies” and featured in the Hurun “2024 Global Unicorn List.” Additionally, Matrixport’s subsidiary, Fly Wing, has received the MPI License from MAS in Singapore.

    Matrixport official website: https://www.matrixport.com

    Media Contact:
    Matrixport PR Team
    pr@matrixport.com

    Disclaimer: This press release is provided by Matrixport. 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.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/13fe3bd2-9ada-4876-bbf8-5e24acfc1696

    The MIL Network

  • MIL-OSI USA: Durbin: January 6 Insurrectionists Should Have Never Been Pardoned By President Trump

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin
    March 04, 2025
    In a Senate floor speech, Durbin denounced President Trump’s pardon of January 6 insurrectionists and provides update on continued criminal misconduct of pardoned Capitol rioters
    WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, today spoke on the Senate floor, providing another update on the criminal misconduct of January 6th insurrectionists since President Trump’s reckless decision to pardon them for their crimes committed during the storming of the U.S. Capitol.  The events of that day resulted in the death of five law enforcement officers and the injury of more than 140 others.
    Durbin began his remarks by recalling his experience on January 6, 2021, as insurrectionists entered the building, interrupting the constitutional proceeding of certifying the 2020 election results.
    “The Senate chamber was filled with members who were witnessing a meeting required by our Constitution where the Vice President presided over the Senate… We gathered here and counted the electoral votes to determine who was the President as a result of the 2020 election.  It’s a fairly routine undertaking, but there is some solemnity to it because the Constitution requires it… It was the same day that President Trump, leaving the office because he lost that election in 2020, had called a rally down at the end of the [National] Mall.  Thousands of people had showed up, and they decided to march on the Capitol at the President’s urging and invitation,” Durbin began.
    “That’s a day I’ll never forget.  I’ve been coming into this building since I was a college student at Georgetown years ago.  This is a special place to me.  It is not my office building.  It is the United States Capitol.  It carries with it, not only history, but a significance as a symbol.  It means something to have a mob take over the Capitol as happened that day, pushing members of the House and Senate to hide in broom closets and to leave the building for their own personal safety.  I never dreamed that would happen in the United States of America, but I lived it, it happened, and the American people know it happened because the videos are quite graphic.  They tell the story of what was going on that day,” Durbin continued.
    Following the January 6 insurrection, the Department of Justice (DOJ) prosecuted more than 1,500 individuals for their involvement in the riot.  However, on his first day in office, President Trump granted pardons and commutations for those who participated in the insurrection despite the horrific violence they inflicted upon law enforcement officers. 
    “So what happened when this new President came to office?  He [President Trump] decided that isn’t what happened at all on January 6…  He ignored the fact that 140 law enforcement officials were injured on that day protecting this building and the people in it…  He decided the people who needed our sympathy were the rioters and not the police, and so the President, as one of his first acts in office, President Trump signed the pardon of some 1,600 individuals,” Durbin said.
    Durbin continued his speech, describing the heinous acts committed by the insurrectionists since President Trump pardoned them.
    “Last week, body camera video was released depicting a traffic-related felony arrest during which a sheriff’s deputy fatally shot former January 6 defendant Matthew Huttle… The video footage confirmed that there was a struggle during the incident, during which Huttle, a January 6 defendant, raised an object that the sheriff deputy believed to be a firearm.  At the beginning of the traffic stop, Huttle can be seen on video stating, ‘I just want to let you know that I’m a January 6 defendant,’ and ‘I stormed the Capitol. I’m waiting on my pardon.’  Investigators later recovered a loaded 9 mm handgun and ammunition in Huttle’s vehicle.  Huttle was among the 1,500 individuals involved in the January 6 Capitol riot, pardoned by President Trump.  Huttle had pleaded guilty to one count of entering and remaining in a restricted building or grounds for his role in the insurrection and was sentenced to six months in prison,” Durbin said.
    “Peter Schwartz, sentenced to 14 years in prison on charges that included four counts of assaulting police officers during the January 6 attack on the Capitol.  Schwartz was seen on body camera footage spraying officers with pepper spray, wielding a baton, and prosecutors alleged that he threw the first chair at officers, creating an opening that enabled hundreds of rioters to push back the police lines,” Durbin said.  “Prior to January 6, Schwartz had amassed criminal convictions in more than four different states for crimes including domestic violence, threatening his girlfriend, and assaulting security officers.  One of Schwartz’s former girlfriends, Shantelle Holeton, a 43-year old factory worker who has voted for President Trump three times… recently told CBS News that she fears for her safety now that Schwartz has been pardoned and released.”
    Holeton reported that Schwartz persistently beat her during their months-long relationship until she called the police in July 2019, alleging that Schwartz was threatening to kill her and her son.  In reacting to Schwartz’s involvement in the insurrection, Holeton stated, “He found an opportunity to go and be violent. That man thrives on violence. He thrives on people fearing him.”
    Durbin then shared an update on Jeremy Brown, one of the last January 6 defendants remaining behind bars since President Trump’s blanket pardon.
    “Jeremy Brown… was released from the Federal Correctional Institution in Atlanta on Wednesday.  Brown had not yet been released because prosecutors did not consider one of his two criminal cases to be related to January 6 and thus covered by President Trump’s pardon; however, the Justice Department has since reversed course.  In April of 2023, Brown was convicted in Tampa, Florida, of possessing a short-barrel rifle, a shotgun, and explosive grenades, and willful retention of a national defense document, all resulting from a January 6-related law enforcement search of his residence in September 2021.  He was sentenced to 87 months in prison for those charges and released by the pardon of President Trump,” Durbin said.
    Durbin concluded his remarks by firmly denouncing President Trump’s pardons.
    “This is a horrible situation, and sadly, tragically, these are people who never should have been pardoned by the President.  They attacked the police here in this building.  They desecrated this Capitol.  They were not the victims.  They victimized innocent people who were doing their job under the Constitution,” Durbin concluded.
    Video of Durbin’s remarks on the floor is available here.
    Audio of Durbin’s remarks on the floor is available here.
    Footage of Durbin’s remarks on the floor is available here for TV Stations.
    -30-

    MIL OSI USA News

  • MIL-OSI Russia: Asia’s Next Growth Frontier

    Source: IMF – News in Russian

    Opening Remarks by the IMF Managing Director Kristalina Georgieva
    At a conference on Asia and the IMF: Resilience through Cooperation, Tokyo, Japan, March 5, 9AM JST

    March 4, 2025

    (As Prepared for Delivery)

    I would like to thank Finance Minister Kato for welcoming us today and want to express my gratitude to Governor Ueda for joining. I’m very sorry I can’t be with you in person. But thankfully technology allows me to join you virtually.

    Those who have been to Tokyo’s Skytree know that it has the best views of the city. And like so much in Japan, it’s an engineering masterpiece. Gazing across Tokyo’s skyline, it’s hard to imagine just how much the city—and the country—has changed in the 80 years since the Bretton Woods Institutions were established.

    After World War II, Japan invested heavily in infrastructure and manufacturing and introduced sweeping reforms. These set the country on a path to becoming an economic powerhouse.

    Inspired by Japan’s success, other countries in Asia followed suit. Today, the region contributes over 60 percent of global growth, and is home to some of the world’s largest, most innovative companies.

    Of course, Asia is a very diverse continent, with a mix of advanced economies, emerging and frontier markets, and small island states. Demographics and income levels vary too.

    But across the region, openness and deepening economic ties have been crucial to countries’ success.

    The world is changing, however. Many countries face weaker growth prospects and are saddled with high public debt. The COVID-19 pandemic and recent geopolitical developments have brought into focus the importance of security of supplies. Trade is no longer the engine of global growth it used to be. And we are in the midst of massive transformations, from rapid advances in AI to changing patterns of capital flows and trade. 

    Against this background, governments worldwide are shifting their priorities. The new US administration is rapidly reshaping its policies on trade, taxation, public spending, deregulation, and digital assets. And other governments are also recalibrating their approaches and adjusting their policies.

    The future of growth

    How should countries in Asia adapt? Let me highlight three opportunities.

    First, the shift toward services-led growth. While trade in goods has flattened, service flows are surging. In fact, services have already drawn about half of the region’s workers, up from just 22 percent in 1990.

    Economists have traditionally thought of services as less productive than manufacturing. Our research suggests otherwise. Asia’s labor productivity in financial services is four times higher than in manufacturing, and twice as high in business services.

    Second, digitalization and AI. The demand for digital products and services in the region has accelerated quickly and is on track to continue growing faster than the region’s GDP. Japan’s Rakuten, China’s Alibaba Group, and Indonesia’s GoTo Group now rival e-commerce giants Amazon and Walmart.

    In AI development, Japan and China are racing ahead, followed closely by South Korea and Singapore. This could be an important boost for productivity. In Singapore, for example, an estimated 40 percent of jobs could be made more productive by AI. The country has several digital economy agreements now in place, enabling digital companies in the region to connect and share data more easily.

    That brings me to my third point: greaterregional cooperation andtrade. On the surface, it might look as if the world is retreating from integration. But regionally, countries are leaning in.

    Over the past four decades, intra-regional trade in Asia has increased by 43 percent. Today, more than half of Asian trade is regional.

    The trend is the same for foreign direct investment. FDI from Asian countries to Japan, for example has nearly doubled over the past decade, as market opportunities in Japan’s technology sector grow.

    Together, the shift toward services, digitalization and AI, and greater regional integration can lift growth. But to harness these opportunities, the region will need to carefully navigate domestic developments and global changes.

    The IMF’s role

    That is where the IMF comes in. We strive to be trusted partners to our member countries, provide country-specific advice and safeguard the stability of the global economy. Our work spans economic analysis, policy advice, financing and capacity development.

    And as the world economy has changed, we too have evolved. From managing fixed exchange rates in the 1970s, to active surveillance of countries’ economic and financial policies and more systematic coverage of spillovers.

    More recently, our thinking on capital flow management and foreign exchange interventions has changed, and we’ve upgraded our lending toolkit to include more flexible instruments tailored to emerging market economies.

    Thanks in large part to Japan’s support, we are also offering more support to low-income countries, especially in capacity development, and a stronger presence around the world through our regional technical assistance centers.

    We are grateful to Japan for the deep engagement in thinking about the future of the Fund. Today’s discussions are an important part of that. 

    My colleagues and I are keenly interested in ideas and reflections on:

    • how we can best support our members, especially the most vulnerable among them, to grow and build economic resilience;
    • how to tailor more of our advice to support countries’ efforts to deepen regional collaboration, by thinking through our strategic engagement with groups like the ASEAN, the Pacific Island countries, as well as medium sized and larger economies; and
    • how to strengthen the global financial safety net. We’re assessing how IMF facilities can be further improved to support resilience in our member countries. And we are working closely with regional arrangements to enhance crisis prevention and response capabilities.

    We know from experience that reforms are hard, but we also know they can steer countries towards stronger and durable growth and can achieve a more stable and prosperous global economy.

    You can count on the IMF in this journey.

    Deputy Managing Director Nigel Clarke and the rest of our team are excited to be part of today’s productive discussion. I look forward to the outcome.

    Thank you.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER:

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

    https://www.imf.org/en/News/Articles/2025/03/05/sp030525-md-asias-next-growth-frontier

    MIL OSI

    MIL OSI Russia News

  • MIL-OSI USA: Republican Senators Reintroduce Bill to Increase Accountability at Federal Prisons

    US Senate News:

    Source: United States Senator for Kentucky Mitch McConnell
    Washington, D.C. – U.S. Senator Mitch McConnell (R-KY), alongside Senators Rand Paul (R-KY), Chuck Grassley (R-IA), Marsha Blackburn (R-TN), and James Lankford (R-OK) announced the introduction of the Federal Prisons Accountability Act of 2025. This bill would bring greater accountability to our nation’s federal prisons by requiring the Director of the Bureau of Prisons (BOP) to be confirmed by the U.S. Senate.
    Currently, the BOP Director is not subject to Senate confirmation despite having significant authority over taxpayer dollars and federal personnel. Unlike most U.S. Department of Justice (DOJ) administrators and directors, the BOP Director is appointed by the U.S. Attorney General – not the President – without Senate consideration.
    The Federal Prisons Accountability Act of 2025 would require the President to appoint the BOP Director with the advice and consent of the Senate. The legislation would also delineate any newly confirmed BOP Director’s tenure to a single, 10-year term at the head of the Bureau.
    “The Senate plays a vital role in staffing the federal government, evaluating the qualifications of more than a thousand presidential nominees to ensure transparency and accountability. The Director of the Bureau of Prisons oversees thousands of employees and a multi-billion dollar budget, and should be subject to Senate review and confirmation as well,” said Senator McConnell. “Our bill would extend the Senate’s advice and consent role to the Bureau of Prisons Director and expand supervision over this federal agency. The thousands of Americans – and hundreds of Kentuckians – employed by the Bureau of Prisons deserve Senate oversight and an added layer of protection from harm.”
    “No agency as large as the Bureau of Prisons should have so little accountability. Our bill ensures the concerns of those who work in prisons are heard and acted upon and will provide much needed Senate oversight of a taxpayer funded system,” said Dr. Paul.
    “The Director of the Bureau of Prisons oversees a massive budget and thousands of employees, including many Iowans. It’s a significant responsibility that requires serious oversight to protect inmates and employees from mismanagement or abuse. Requiring the BOP Director to face Senate confirmation would bring much needed transparency and accountability to the federal prison system,” Senator Grassley said.
    “Any government agency that has over 30,000 employees, manages a multi-billion dollar budget, and directly impacts thousands of lives should not be exempt from Senate oversight,” said Senator Blackburn. “This bipartisan bill extends the Senate’s duty of advice and consent to the Director of the Bureau of Prisons, fostering greater transparency for employees and further protecting taxpayer dollars in the federal prison system.”
    “The Senate confirmation process ensures that Oklahoman voices are heard. Requiring Senate confirmation will improve transparency and give taxpayers the accountability they deserve,” said Senator Lankford.
    The BOP Director supervises the federal prison employees who serve in over 120 facilities across the country working under hazardous conditions to protect the public from harm. The legislation announced today would subject the Director to the same congressional scrutiny as other top law enforcement agency chiefs within the DOJ, such as the Federal Bureau of Investigation (FBI) and Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) Directors and the Drug Enforcement Administration (DEA) Administrator. By extending Senate consideration to the BOP Director, this legislation would encourage the Bureau to provide greater responsiveness to the safety needs of its dedicated federal corrections workers.

    MIL OSI USA News

  • MIL-OSI USA: Trump Tells Farmers ‘Have Fun’ As He Kicks Off Pointless Trade Wars. Cantwell Tells the Truth: ‘It’s Not Going to Be Fun, It’s Going to Be A Nightmare’

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    03.04.25
    Trump Tells Farmers ‘Have Fun’ As He Kicks Off Pointless Trade Wars. Cantwell Tells the Truth: ‘It’s Not Going to Be Fun, It’s Going to Be A Nightmare’
    Ahead of Presidential address, Cantwell calls on Congress to reclaim its Constitutional authority over tariffs; Cantwell also calls out arbitrary and wasteful layoffs at NOAA, NIH, NSF, USDA: “These kinds of ideas sound great, but they’re not well thought out. It’s literally throwing tax dollars away.”
    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, delivered a Senate floor speech raising concerns about the economic fallout of Trump’s newly announced tariffs, hours before the President is set to deliver remarks before a Joint Session of Congress.
     “Trump said to our farmers yesterday on Truth Social, quote, ‘tariffs will go on external products on April 2. Have fun.’ End quote,” Sen. Cantwell said. “’Have fun?’ ‘Have fun?’ When retaliatory tariffs strike our farmers — just as they did in the first Trump administration — it’s not going to be fun, it’s going to be a nightmare for our farmers. And many of the farmers in my state worry [whether] they will be able to farm at all.”
    “I hope my colleagues will slow down on this tariff tirade. Under Article One, Section Eight of the U.S. Constitution, Congress has the power to set duties and regulate foreign commerce. However, Congress has spent the last 80 years delegating its tariff authority to presidents,” she continued. “This president, I believe, is abusing this authority. He calls it an emergency. He’s using the trade wars to supposedly force countries to do things like changing their border policies. I believe it’s time for Congress to start taking back some of that power and considering how we’re going to protect the family farm.”
    Over the past 24 hours, as President Trump’s long-promised 25% tariffs on goods from Mexico and Canada and 10% tariff increase on goods from China took effect, stock prices in the United States have plummeted. The Dow fell more than 700 points this morning. Today, the Wall Street Journal’s editorial board criticized his decision: “Trump takes the dumbest tariff plunge.”.
    Sen. Cantwell also showed the following graph with the alarming new forecast by the Federal Reserve Bank of Atlanta, which recently began predicting negative real GDP growth for the first quarter of 2025, a rapid reversal of its prior forecast for growth.  “Just last week, when people want to talk about GDP and where this is going, it’s amazing that the Atlanta Fed was forecasting GDP growth over two percent for the first quarter of 2025…. but we can see when we got to February, we fell off a cliff… this drop is the representation of a cliff that President Trump is pushing the American economy over.”

    “We know this — that in my state, families are paying more for groceries. They’re paying more at the gas pump. They’re paying more at electricity bills. And they are seeing the stock market plummet because as businesses grapple with Trump’s unnecessary trade war, businesses are concerned about the long-term impacts of the supply chain and the cost of those tariffs,” Sen. Cantwell said.
    In Washington state, two out of every five jobs are tied to trade and trade-related industries. More information on how President Trump’s tariffs on goods from Mexico, Canada, and China will affect consumers and businesses in the State of Washington can be found HERE. Nationwide:
    A 25% tariff on Canada and Mexico would add an estimated $144 billion a year to the cost of manufacturing in the United States.
    Tariffs on Canada and Mexico could increase U.S. car prices by as much as $12,000.
    According to the Yale Budget Lab, Trump’s proposed tariffs would result in the highest U.S. effective tariff rate in more than 80 years, and depending on the level of retaliation by other trading partners, will result in increased costs of between $1,600 and $2,000 per household. According to their analysis, electronics, clothing, cars, and food will all see above-average price increases.
    Sen. Cantwell has remained a steadfast supporter of free trade to grow the economy in the State of Washington and nationwide. Sen. Cantwell was the leading voice in negotiations to end India’s 20% retaliatory tariff on American apples, which was imposed in response to tariffs on steel and aluminum and devastated Washington state’s apple exports. India had once been the second-largest export market for American apples, but after President Trump imposed tariffs on steel and aluminum in his first term, India imposed retaliatory tariffs in response and U.S. apple exports plummeted. The impact on Washington apple growers was severe: Apple exports from the state dropped from $120 million in 2017 to less than $1 million by 2023.  In September 2023, following several years of Sen. Cantwell’s advocacy, India ended its retaliatory tariffs on apples and pulse crops which was welcome news to the state’s more than 1,400 apple growers and the 68,000-plus workers they support.
    In her speech today, Sen. Cantwell also railed against the Trump Administration’s Department of Government Efficiency’s (DOGE) push to indiscriminately slash federal workers from the payroll, compromising the vital ongoing work at federal agencies.
    “The cuts that these agencies have been facing are really the cuts to some of the most technical jobs the United States government has. Whether you’re talking about NOAA, or the National Weather Service, or the National Institutes of Health, or the National Science Foundation, or the US Department of Agriculture — they’ve all been targeted for reductions. These agencies are critical to our economic growth and to our security. And at a time when we are seeing more extreme weather events, or more floods or more wildfires, why shouldn’t we be investing more in weather forecasting, not less? 
    “And when you look at NOAA workers who support our commercial, and recreation, and tribal fisheries, they employ 1.7 million people, including thousands in the State of Washington. Why would you cut specialized workforce that are helping support the growth of GDP?” Sen. Cantwell said.
    “DOGE wants to cap the overhead expenses of research. University of Washington medicine tells me that this would leave them with shortfalls and that they might have to stop clinical trials that are underway. You can’t just stop medical research like it’s a faucet! Once halted, the research, the data, the clinical trials, the patients, the laboratories, the equipment — all that led to innovation will be lost. You think you just turn that back on? You know, these kinds of ideas sound great, but they’re not well thought out. It’s literally throwing tax dollars away.”
    Since DOGE announced its intent to hack away at federal agencies and programs, Sen. Cantwell has been sounding the alarm and coming to the defense of workers at NOAA, the Small Business Administration, the Department of Housing and Urban Development, the Federal Aviation Administration, the National Institutes of Health, the National Park Service, and more.
    A video of her speech on the Senate floor today can be viewed HERE; audio is HERE; and a transcript is HERE.

    MIL OSI USA News

  • MIL-OSI New Zealand: Minister acknowledges outgoing RBNZ Governor

    Source: New Zealand Government

    Finance Minister Nicola Willis acknowledges the resignation of the Reserve Bank Governor Adrian Orr, and his seven years of service.

    “I wish him well for the future,” Nicola Willis says.

    Mr Orr was appointed as Governor in March 2018.

    Nicola Willis also welcomes Deputy Governor Christian Hawkesby, who will be Acting Governor until March 31.

    Mr Hawkesby has served as Reserve Bank Deputy Governor since 2022.

    From April 1 the Minister of Finance, on recommendation from the RBNZ Board, will appoint a temporary Governor for a period of up to six months.

    MIL OSI New Zealand News

  • MIL-OSI Security: Man from Dominican Republic pleads guilty to illegal reentry

    Source: Office of United States Attorneys

    ROCHESTER, N.Y. – U.S. Attorney Michael DiGiacomo announced today that Rolando Antonio Rosado, 59, of the Dominican Republic, pleaded guilty before Chief U.S. District Judge Elizabeth A. Wolford to illegal re-entry after deportation. Rosado was then sentenced to time served and transferred to the custody of Immigration and Customs Enforcement.

    Assistant U.S. Attorney Meghan K. McGuire, who handled the case, stated that in June 2000, an immigration judge ordered Rosado removed in absentia. However, Rosado did not surrender himself for removal. On October 22, 2003, Rosado was arrested by the Rochester Police Department and charged with Criminal Possession of a Weapon. As a result, in April 2004, Rosado was physically removed from the United States. In 2014, he illegally re-entered the United States near Laredo, Texas. On September 26, 2024, Rosado was found in the Western District of New York.

    The plea and sentencing are the result of an investigation by Homeland Security Investigations, under the direction of Special Agent-in-Charge Erin Keegan.

    # # # #

    MIL Security OSI

  • MIL-OSI Security: Salem Man Sentenced to Federal Prison for Trafficking Fentanyl

    Source: Office of United States Attorneys

    PORTLAND, Ore.—A Mexican national residing in Salem, Oregon, was sentenced to federal prison Monday for his role in trafficking fentanyl and other narcotics in Oregon.

    Leonel Covarrubias Hernandez, 48, was sentenced to 144 months in federal prison and five years’ supervised release.

    According to court documents, as part of a drug trafficking investigation, investigators identified Covarrubias as a narcotics distributer operating in Oregon. Between August and December 2022, investigators conducted several controlled buys in which Covarrubias sold counterfeit oxycodone pills containing fentanyl. 

    On December 27, 2022, investigators conducted a traffic stop on Covarrubias and his co-conspirator near their residence. Investigators searched the vehicle and seized counterfeit pills containing fentanyl, more than $11,000 in cash, and a firearm. On the same day, investigators located and seized more than 29 pounds of methamphetamine, 11 pounds of fentanyl, 12 pounds of cocaine and two pounds of heroin, 24 firearms, a 3D printer, and more than $43,000 in cash from the residence.

    On November 18, 2024, Covarrubias pleaded guilty to possessing fentanyl with the intent to distribute.

    This case was investigated by the FBI and Salem Police Department. It was prosecuted by Bryan Chinwuba, Assistant U.S. Attorney for the District of Oregon.

    MIL Security OSI

  • MIL-OSI Security: Niagara Falls man pleads guilty to drug and gun charges

    Source: Office of United States Attorneys

    BUFFALO, N.Y.-U.S. Attorney Michael DiGiacomo announced today that Edward Rollie, 49, of Niagara Falls, NY, pleaded guilty before U.S. Magistrate Judge Michael J. Roemer to possession with intent to distribute 400 grams or more of fentanyl, and being a felon in possession of a firearm, which carry a mandatory minimum penalty of 10 years in prison and a maximum of life.  

    Assistant U.S. Attorney Timothy C. Lynch, who is handling the case, stated that on August 28, 2024, investigators executed search warrants associated with Rollie at a Spruce Avenue residence in Niagara Falls, where Rollie’s son resides. They recovered approximately 594 grams of fentanyl, approximately 683 grams of cocaine, and a 9mm semi-automatic handgun. In July 2002, Rollie was convicted of a federal felony drug charge in the Western District of Pennsylvania, and is legally prohibited from possessing a firearm. The investigation also included controlled purchases of fentanyl from Rollie.

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

    The plea is the result of an investigation by the Federal Bureau of Investigation, under the direction of Special Agent-in-Charge Matthew Miraglia, the Niagara Falls Police Department, under the direction of Commissioner Nick Ligammari, the Niagara County Sheriff’s Department, under the direction of Sheriff Michael Filicetti, the North Tonawanda Police Department, under the direction of Chief Keith Glass, the New York State Police, under the direction of Major Amie Feroleto, and the Erie County Sheriff’s Department, under the direction of Sheriff John Garcia.

    Sentencing will be scheduled at a later date.    

    # # # #

    MIL Security OSI

  • MIL-OSI Economics: Asia’s Next Growth Frontier

    Source: International Monetary Fund

    Opening Remarks by the IMF Managing Director Kristalina Georgieva
    At a conference on Asia and the IMF: Resilience through Cooperation, Tokyo, Japan, March 5, 9AM JST

    March 4, 2025

    (As Prepared for Delivery)

    I would like to thank Finance Minister Kato for welcoming us today and want to express my gratitude to Governor Ueda for joining. I’m very sorry I can’t be with you in person. But thankfully technology allows me to join you virtually.

    Those who have been to Tokyo’s Skytree know that it has the best views of the city. And like so much in Japan, it’s an engineering masterpiece. Gazing across Tokyo’s skyline, it’s hard to imagine just how much the city—and the country—has changed in the 80 years since the Bretton Woods Institutions were established.

    After World War II, Japan invested heavily in infrastructure and manufacturing and introduced sweeping reforms. These set the country on a path to becoming an economic powerhouse.

    Inspired by Japan’s success, other countries in Asia followed suit. Today, the region contributes over 60 percent of global growth, and is home to some of the world’s largest, most innovative companies.

    Of course, Asia is a very diverse continent, with a mix of advanced economies, emerging and frontier markets, and small island states. Demographics and income levels vary too.

    But across the region, openness and deepening economic ties have been crucial to countries’ success.

    The world is changing, however. Many countries face weaker growth prospects and are saddled with high public debt. The COVID-19 pandemic and recent geopolitical developments have brought into focus the importance of security of supplies. Trade is no longer the engine of global growth it used to be. And we are in the midst of massive transformations, from rapid advances in AI to changing patterns of capital flows and trade. 

    Against this background, governments worldwide are shifting their priorities. The new US administration is rapidly reshaping its policies on trade, taxation, public spending, deregulation, and digital assets. And other governments are also recalibrating their approaches and adjusting their policies.

    The future of growth

    How should countries in Asia adapt? Let me highlight three opportunities.

    First, the shift toward services-led growth. While trade in goods has flattened, service flows are surging. In fact, services have already drawn about half of the region’s workers, up from just 22 percent in 1990.

    Economists have traditionally thought of services as less productive than manufacturing. Our research suggests otherwise. Asia’s labor productivity in financial services is four times higher than in manufacturing, and twice as high in business services.

    Second, digitalization and AI. The demand for digital products and services in the region has accelerated quickly and is on track to continue growing faster than the region’s GDP. Japan’s Rakuten, China’s Alibaba Group, and Indonesia’s GoTo Group now rival e-commerce giants Amazon and Walmart.

    In AI development, Japan and China are racing ahead, followed closely by South Korea and Singapore. This could be an important boost for productivity. In Singapore, for example, an estimated 40 percent of jobs could be made more productive by AI. The country has several digital economy agreements now in place, enabling digital companies in the region to connect and share data more easily.

    That brings me to my third point: greaterregional cooperation andtrade. On the surface, it might look as if the world is retreating from integration. But regionally, countries are leaning in.

    Over the past four decades, intra-regional trade in Asia has increased by 43 percent. Today, more than half of Asian trade is regional.

    The trend is the same for foreign direct investment. FDI from Asian countries to Japan, for example has nearly doubled over the past decade, as market opportunities in Japan’s technology sector grow.

    Together, the shift toward services, digitalization and AI, and greater regional integration can lift growth. But to harness these opportunities, the region will need to carefully navigate domestic developments and global changes.

    The IMF’s role

    That is where the IMF comes in. We strive to be trusted partners to our member countries, provide country-specific advice and safeguard the stability of the global economy. Our work spans economic analysis, policy advice, financing and capacity development.

    And as the world economy has changed, we too have evolved. From managing fixed exchange rates in the 1970s, to active surveillance of countries’ economic and financial policies and more systematic coverage of spillovers.

    More recently, our thinking on capital flow management and foreign exchange interventions has changed, and we’ve upgraded our lending toolkit to include more flexible instruments tailored to emerging market economies.

    Thanks in large part to Japan’s support, we are also offering more support to low-income countries, especially in capacity development, and a stronger presence around the world through our regional technical assistance centers.

    We are grateful to Japan for the deep engagement in thinking about the future of the Fund. Today’s discussions are an important part of that. 

    My colleagues and I are keenly interested in ideas and reflections on:

    • how we can best support our members, especially the most vulnerable among them, to grow and build economic resilience;
    • how to tailor more of our advice to support countries’ efforts to deepen regional collaboration, by thinking through our strategic engagement with groups like the ASEAN, the Pacific Island countries, as well as medium sized and larger economies; and
    • how to strengthen the global financial safety net. We’re assessing how IMF facilities can be further improved to support resilience in our member countries. And we are working closely with regional arrangements to enhance crisis prevention and response capabilities.

    We know from experience that reforms are hard, but we also know they can steer countries towards stronger and durable growth and can achieve a more stable and prosperous global economy.

    You can count on the IMF in this journey.

    Deputy Managing Director Nigel Clarke and the rest of our team are excited to be part of today’s productive discussion. I look forward to the outcome.

    Thank you.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER:

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

    MIL OSI Economics

  • MIL-OSI New Zealand: Reserve Bank NZ Governor Adrian Orr resigns

    Source: Reserve Bank of New Zealand

    05 March 2025 – Reserve Bank of New Zealand Governor Adrian Orr has resigned and will finish in the role on 31 March.

    Mr Orr, who was first appointed as Governor in March 2018, says it has been a privilege to lead an institution that plays a critical role in the economic wellbeing and prosperity of all New Zealanders.

    “Over the last seven years we’ve significantly built our capability and capacity so we can respond to an increasing complex and challenging global environment. We’ve made considerable progress in our approach to monetary and financial policy, alongside driving much-needed maturity uplifts in our balance sheet capital, digital, data and technology.”

    “We’ve advanced many major, multi-year programmes, to modernise and strengthen the RBNZ and the New Zealand financial system and led the implementation of strategies related to the Future of Money and Cash, Future of Payment and Settlements, Financial Inclusion, Climate Change, and Māori Access to Capital,” Mr Orr says.

    “I’m incredibly proud of the RBNZ’s people, our work and the impact of our mahi on all New Zealanders,” Mr Orr says.

    “I leave the role with consumer price inflation at target, and an economy in a cyclical recovery following the long period of COVID-related disruption. The financial system remains sound. However, there is much work left to do on the major multi-year strategies RBNZ is following. Ongoing focus and funding will be critical to these projects’ success.”

    RBNZ Board Chair Professor Neil Quigley thanked Mr Orr for his leadership and commitment to the central bank. “Adrian has been critical to leading the institutional reforms needed to implement the new Reserve Bank Act, Deposit Takers Act, and Depositor Compensation Scheme. In particular, Adrian has demonstrated resilience and fidelity to the Bank in operationalising the changes in governance and decision-making that followed from the creation of a Monetary Policy Committee with external members from 2019 and the Reserve Bank Act coming into force in July 2022.”

    “He has also driven a significant uplift in leadership and capability across the Bank, and modernised its culture to reflect contemporary New Zealand society,” Professor Quigley says.

    Deputy Governor Christian Hawkesby will be Acting Governor until 31 March. From 1 April the Minister of Finance, on recommendation from the RBNZ Board, will appoint a temporary Governor for a period of up to six months. Mr Hawkesby will also chair the Monetary Policy Committee.

    More information

    RBNZ Governor Adrian Orr https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=2cb69240b9&e=f3c68946f8
    RBNZ Deputy Governor Christian Hawkesby https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=9057f58407&e=f3c68946f8
    Reserve Bank Act 2021. https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=8952ed0d47&e=f3c68946f8

    Under the Reserve Bank Act the Minister of Finance can appoint temporary Governor for a period of up to six months, following a recommendation from the RBNZ Board.

    MIL OSI New Zealand News

  • MIL-OSI Canada: Prime Minister Justin Trudeau speaks with premiers to discuss a Team Canada response to unjustified U.S. tariffs against Canada

    Source: Government of Canada – Prime Minister

    Today, Prime Minister Justin Trudeau convened a virtual meeting with Canada’s premiers to discuss the United States’ unjustified tariffs against Canada. The Prime Minister was joined by the Minister of Finance and Intergovernmental Affairs, Dominic LeBlanc, Canada’s Ambassador to the United States, Kirsten Hillman, and Canada’s Fentanyl Czar, Kevin Brosseau.

    The Prime Minister and the premiers denounced the U.S.’ decision to impose unjustified tariffs and committed to stand united against this economic threat. They noted that mutually beneficial trade between Canada and the U.S. has underpinned the world’s closest economic partnership for decades. They underscored that tariffs would weaken both of our countries, put thousands of good paying jobs at risk, and make life less affordable for both Canadians and Americans alike.

    The Prime Minister and the premiers discussed Canada’s robust response to the imposition of tariffs by the U.S., which includes moving forward with 25 per cent tariffs on $155 billion worth of imported goods, beginning immediately with a list of goods worth $30 billion. The scope of the Canadian counter tariffs will be increased to $155 billion if the current U.S. tariffs are maintained, and could also be increased if new tariffs are imposed.

    The Prime Minister emphasized that Canada’s response is designed to minimize negative impacts on Canadians and the economy, while also recognizing that U.S. tariffs will inevitably cause some economic hardship. Minister LeBlanc stated the federal government will soon announce an initial package of supports to mitigate the impact of U.S. tariffs on Canadian workers, families, and businesses. First Ministers also discussed progress to reduce barriers to internal trade and labour mobility within Canada.

    The Prime Minister and the premiers thanked Canadians for their resilience and solidarity in the face of this threat. They noted their response to these challenging times has proven to the world that Canada will always be strong, free, proud, and united. First Ministers agreed to continue working together to defend Canada’s economy and sovereignty in the weeks and months ahead.

    Associated Links

    MIL OSI Canada News

  • MIL-OSI USA: California Department of Justice Investigating Mammoth Lakes Police Department Officer-Involved Shooting Under AB 1506

    Source: US State of California

    Tuesday, March 4, 2025

    Contact: (916) 210-6000, agpressoffice@doj.ca.gov

    **The information provided below is based on preliminary details regarding an ongoing investigation, which may continue to evolve**

    OAKLAND – California Attorney General Rob Bonta today announced that the California Department of Justice (DOJ), pursuant to Assembly Bill 1506 (AB 1506), is investigating and will independently review an officer-involved shooting (OIS) that occurred in Mammoth Lakes, California on Tuesday, March 4, 2025 at approximately 12:00 p.m. The OIS incident resulted in the death of one individual and involved personnel from the Mammoth Lakes Police Department.  

    Following notification by local authorities, DOJ’s California Police Shooting Investigation Team initiated an investigation in accordance with AB 1506 mandates. Upon completion of the investigation, it will be turned over to DOJ’s Special Prosecutions Section within the Criminal Law Division for independent review.

    More information on the California Department of Justice’s role and responsibilities under AB 1506 is available here: https://oag.ca.gov/ois-incidents.

    # # #

    MIL OSI USA News

  • MIL-OSI Security: Former Honolulu City Officials Admit They Conspired to Secretly Pay Corrupt Former Chief of Honolulu Police Department $250,000

    Source: Office of United States Attorneys

    HONOLULU, Hawaii – Former Honolulu City Attorney Donna Leong and former Honolulu Police Commission Chair Max Sword pleaded guilty in federal court today, admitting that they conspired to illegally pay then-Honolulu Police Chief Louis Kealoha $250,000 from city coffers without the approval of the Honolulu City Council while he was under federal investigation for corruption.

    Additionally, former Honolulu City Manager Roy Amemiya entered a deferred prosecution agreement for his role in the same conspiracy.

    The defendants were immediately sentenced to time served and were ordered to pay $250,000 in restitution to the city.

    The resolution of these cases marks the end of a decade-long series of public corruption prosecutions in Honolulu, which began with the investigation and conviction of Chief Kealoha and former Honolulu prosecutor Katherine Kealoha.

    According to court documents, Leong, Sword, and Amemiya admitted that they conspired in their official capacities as Honolulu city officials to reach a settlement agreement for the retirement of then-Police Chief Kealoha while he was under federal investigation for corruption. The defendants also paid Kealoha $250,000 from the city’s purse without first seeking and obtaining the approval of the Honolulu City Council, which was required by city laws. Leong, Sword, and Amemiya admitted that their decision not to seek and obtain City Council approval violated the law and deprived the citizens of Honolulu of their due process rights under the Fifth and Fourteenth Amendments of a hearing before, and approval by, their elected City Council for the use of city funds.

    Following their guilty pleas, Leong and Sword were sentenced by U.S. District Judge Leslie E. Kobayashi to time served and one year of supervised release. During today’s hearing, Judge Kobayashi characterized Leong and Sword’s actions as “truly misguided” and reprimanded them for exercising a “complete disregard for the separation of powers” by not presenting the settlement agreement to City Council. She further stated that their actions caused “serious harm” to the community of Honolulu.

    As part of a deferred prosecution agreement, in addition to admitting his involvement in the criminal conspiracy, Amemiya’s agreement requires him to comply with certain conditions for a period of two years, including completion of 200 hours of community service and restriction from holding public office. Per the terms of his deferred prosecution agreement, if he complies in full for two years, the charges against Amemiya will be dismissed.

    Importantly, all three defendants agreed to pay restitution in the amount of $250,000 to the City and County of Honolulu—the exact amount of taxpayer money paid to then-Chief Kealoha as part of the unlawful settlement agreement.

    The conclusion of the criminal case against Leong, Sword, and Amemiya is the last in a decade-long series of public corruption prosecutions in Hawaii conducted by the United States Attorney’s Office for the Southern District of California, which prosecuted these cases after the District of Hawaii was recused. These prosecutions have charged and convicted over a dozen individuals, most of whom were public officials or persons of prominence in Honolulu, including the Kealohas, Honolulu police officers, and anesthesiologist Rudy Puana, Katherine Kealoha’s brother. The resolution of the charges against Leong, Sword, and Amemiya marks a historic end to this journey of seeking justice for the citizens of Honolulu.

    “After a decade-long battle against public corruption in Hawaii, we have successfully brought numerous cases to a close. This achievement is a testament to the unwavering dedication of our law enforcement partners, the prosecutors, our legal support staff, and the community,” said Acting U.S. Attorney Andrew R. Haden. “Together, we have demonstrated that no one is above the law.  Hopefully, our efforts have also restored some faith in law enforcement and local government for the Hawaiian community.  But let these cases also be a reminder, the fight against corruption must never end. The Department of Justice has a proud history and stands ready to fight for the principles of justice and fairness for all.”

    “The cases against these three defendants are the last among a decade-long series of public corruption prosecutions in Hawaii,” said FBI Honolulu Special Agent in Charge David Porter. “I am proud of the agents and prosecutors who devoted years to these investigations—their tireless efforts reflect our continued commitment to root out corruption in our communities.”

    This case and the series of public corruption cases brought over the last decade were led by Special Attorneys Michael G. Wheat, Joseph J.M. Orabona, Janaki G. Chopra, Colin M. McDonald and Andrew Y. Chiang.

    DEFENDANTS                                             Case Number 21cr00142-LEK                                

    Donna Yuk Lan Leong                                   Age: 69                                   Honolulu, HI

    Max John Sword                                             Age: 73                                   Honolulu, HI

    Roy Keiji Amemiya, Jr.                                  Age: 69                                   Honolulu, HI

    SUMMARY OF CHARGES

    Conspiracy to Deprive Rights under Color of Law – Title 18, U.S.C., Sections 371 and 242

    Maximum penalty: One year in prison and $100,000 fine

    INVESTIGATING AGENCY

    Federal Bureau of Investigation

    Honolulu Division

    MIL Security OSI

  • MIL-OSI Security: Bakery owners indicted for harboring illegal aliens

    Source: Office of United States Attorneys

    BROWNSVILLE, Texas – The two owners of a Los Fresnos establishment have been charged with harboring illegal aliens, announced U.S. Attorney Nicholas J. Ganjei.

    Leonardo Baez, 55, and Alicia Avila-Guel, 46, both legal permanent residents of the United States, were originally charged by criminal complaint following a lawful enforcement action Feb. 12. A federal grand jury has now returned a three-count indictment against them. They are expected to appear before U.S. Magistrate Judge Ignacio Torteya III March 13.

    Baez and Avila-Guel have owned and operated Abby’s Bakery and Dulce’s Café in Los Fresnos since 2012, according to the charges.

    The investigation began after authorities allegedly discovered the pair were potentially employing and housing illegal aliens within their restaurant.

    The charges allege that law enforcement conducted a consensual worksite enforcement action at Abby’s Bakery and Dulce’s Café. There, they allegedly identified several employees and others who were in the United States illegally or in the country under B1/B2 visas without having the right to work.

    The charges allege both Baez and Avila-Guel illegally hired these individuals to work in their restaurant while harboring them.

    According to the criminal complaint, law enforcement identified a room provided for employees in the same shopping plaza as the restaurant. According to the criminal complaint, law enforcement identified a room provided for employees in the same shopping plaza as the restaurant. It was allegedly housing two employees at the time of inspection who were unauthorized to work in the United States. It was a rectangular room with six mattresses on the floor, according to the charges.

    The worksite enforcement action allegedly resulted in the discovery of two illegal aliens unlawfully present in the United States and six B1/B2 Visa holders who did not have the right to work in the United States. Another individual was allegedly taken into custody on an outstanding warrant unrelated to the current enforcement action.

    Authorities executed arrest warrants Feb. 19 for Baez and Avila-Guel. At that time, no one else was taken into custody or detained.

    If convicted, both face up to 10 years in federal prison as well as a fine up to $250,000. 

    Homeland Security Investigations conducted the investigation.

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

    MIL Security OSI

  • MIL-OSI: Brookfield Wealth Solutions announces Group Capital position of over $16 Billion

    Source: GlobeNewswire (MIL-OSI)

    Group capital triples over two-year period

    Financial strength underpins A ratings across life and annuity companies

    BROOKFIELD, NEWS, March 04, 2025 (GLOBE NEWSWIRE) — Brookfield Wealth Solutions (NYSE, TSX: BNT) today announced its year-end 2024 capital position with over $16 billion of group capital across its regulated insurance subsidiaries and holding companies. This strong capital position underpins the A financial strength ratings assigned to Brookfield Wealth Solutions’ life and annuity companies, and the investment grade ratings for its life and annuity holding company.

    Brookfield Wealth Solutions’ group capital has tripled from $5.7 billion in 2022 to an estimated $16.1 billion in 2024 through a combination of retained earnings and capital contributions from Brookfield Corporation. 

    Sachin Shah, CEO, Brookfield Wealth Solutions, said: “With over 5,000 people dedicated every day to serving the needs of policyholders and retirees, we’ve been able to build a world-class wealth business that provides individuals with safe and secure retirement income. This past year has culminated in record levels of group and entity-level capital. This February we participated in the first group Supervisory College, where we had the opportunity to share details of our assets, reserves and capital position with our insurance regulators from eight jurisdictions. With our upcoming entrance into the UK insurance market, we look forward to continued prudent growth and an expanded Supervisory College in 2025.”

    Summary of Group Capital            
    in USD, billions            
                 
    Group / Entity   12/31/2022   12/31/2023   12/31/2024
    Insurance Subsidiaries1   5.1   7.5   13.5
    Group Holding Companies   0.7   1.5   2.6
    Total Brookfield Wealth Solutions   5.7   9.0   16.1
    1. Calculated on an aggregate basis in accordance with applicable insurance regulations.
     

    About Brookfield Wealth Solutions

    Brookfield Wealth Solutions Ltd. (NYSE, TSX: BNT) is focused on securing the financial futures of individuals and institutions through a range of retirement services, wealth protection products and tailored capital solutions. Each class A exchangeable limited voting share of Brookfield Wealth Solutions is exchangeable on a one-for-one basis with a class A limited voting share of Brookfield Corporation (NYSE, TSX: BN). For more information, visit bnt.brookfield.com or contact:

    Media:  Investor Relations:
    Kerrie McHugh Rachel Schneider
    Tel: (212) 618-3469 Tel: (416) 369-3358
    Email: kerrie.mchugh@brookfield.com Email: Rachel.schneider@brookfield.com
       

    Non-GAAP and Performance Measures

    We make reference to Brookfield Wealth Solutions’ group capital in this news release, which is calculated on an aggregate basis in accordance with applicable insurance regulations and is not derived from generally accepted accounting principles in the United States of America (“U.S. GAAP”). These references should not be considered in isolation from, or as a substitute for, financial measures calculated in accordance with U.S. GAAP. We caution readers that these non-GAAP financial measures or other financial metrics are not standardized under U.S. GAAP and may differ from the financial measures or other financial metrics disclosed by other businesses and, as a result, may not be comparable to similar measures presented by other issuers and entities. We provide additional information on key terms and non-GAAP measures in our filings available at bnt.brookfield.com.

    Notice to Readers

    This news release and any related oral statements made by our representatives may contain “forward-looking information” within the meaning of Canadian provincial securities laws, “forward-looking statements” within the meaning of Canadian provincial securities laws, “forward-looking statements” within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, and “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations (collectively, “forward-looking statements”). Forward-looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management’s current estimates, assumptions and expectations regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies, capital management and outlook of Brookfield Wealth Solutions and its subsidiaries, as well as the outlook for international economies for the current fiscal year and subsequent periods.

    In some cases, forward-looking statements can be identified by the use of the words such as “believes,” “thinks,” “expects,” “potential,” “anticipates,” “plans,” “believes,” “estimates,” “seeks,” “intends,” “targets,” “projects,” “foresees,” “forecasts,” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may,” “will,” “should,” “would” and “could.” In particular, the forward-looking statements contained in this news release include statements regarding the growth of our business, the status of regulatory approvals including the anticipated timing thereof, the size of the U.K. pension market and opportunities relating thereto.

    Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable estimates, assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of Brookfield Wealth Solutions or its subsidiaries to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: (i) investment returns that are lower than target; (ii) the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; (iii) the behavior of financial markets, including fluctuations in interest and foreign exchange rates; (iv) global equity and capital markets and the availability of equity and debt financing and refinancing within these markets (v) litigation; (vi) changes in tax laws; (vii) ability to collect amounts owed; (viii) catastrophic events, such as earthquakes, hurricanes and epidemics/pandemics; (ix) the possible impact of international conflicts and other developments including terrorist acts and cyberterrorism; (x) the introduction, withdrawal, success and timing of business initiatives and strategies; (xi) the failure of effective disclosure controls and procedures and internal controls over financial reporting and other risks; (xii) health, safety and environmental risks; (xiii) the maintenance of adequate insurance coverage; (xiv) the existence of information barriers between certain businesses within Brookfield’s asset management operations; (xv) risks specific to our business segments; (xvi) factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States; and (xvii) the failure to obtain and/or maintain required regulatory approvals. We caution that the foregoing list of important factors that may affect future results is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the foregoing risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such forward-looking information. Except as required by law, Brookfield Wealth Solutions undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, whether as a result of new information, future events or otherwise.

    Past performance is not indicative nor a guarantee of future results. There can be no assurance that comparable results will be achieved in the future, that future investments will be similar to the historic investments discussed herein, that targeted returns, growth objectives, diversification or asset allocations will be met or that an investment strategy or investment objectives will be achieved (because of economic conditions, the availability of investment opportunities or otherwise).

    Readers are urged to consider the foregoing risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such forward-looking information.

    The MIL Network

  • MIL-OSI Economics: Global Industry Partners Jointly Release Net5.5G Best Practices & Deployment Guide Whitepaper

    Source: Huawei

    Headline: Global Industry Partners Jointly Release Net5.5G Best Practices & Deployment Guide Whitepaper

    [Barcelona, Spain, March 4, 2025] At MWC Barcelona 2025, the Broadband Development Congress (BDC), hosted by the World Broadband Association (WBBA), was a resounding success. Themed “Smarter Broadband: Investment. Innovation. Intelligence,” the congress attracted over 200 industry leaders from global industry organizations, standards organizations, government agencies, carriers, and device vendors. Attendees exchanged views on key issues, including the Net5.5G evolution path, network technology innovation, and commercial practices.
    Ryan Qiu, Vice President of Huawei’s Data Communication Product Line, delivering a keynote speech titled “Accelerating Net5.5G Innovation, Striding to an Intelligent Era”

    In his keynote speech at the congress, Ryan Qiu, Vice President of Huawei’s Data Communication Product Line, noted that the integration of AI into carriers’ strategies is gaining momentum, with Net5.5G serving as a catalyst for the in-depth convergence of networks and AI. To address this trend, Huawei has introduced AI WAN, a cutting-edge solution that comprehensively empowers IP networks in the Net5.5G era using AI. Featuring a three-layer architecture comprising AI routers, AI new connections, and AI new brain, this solution enables carriers to unlock new network value across diverse scenarios, including individual, home, and enterprise settings.
    Industry Consensus on Net5.5G: Global Leaders Call for Enhanced Cooperation
    At the congress, global industry leaders from organizations such as the WBBA, IPv6 Forum, International Telecommunication Union (ITU-T), and Internet Engineering Task Force (IETF) reached a consensus during the “Fireside Chat: Forward-Looking Dialogue on the Evolution of Next-Gen Networks.” Net5.5G has now become an industry-wide consensus, making significant strides in areas including industry development, policy formulation, and commercial practices. The leaders called for enhanced industry collaboration and continued joint efforts to drive the commercial success of Net5.5G, thereby guiding the sustainable development of the Internet industry.
    Establishment of Net5.5G Industry Cooperation Mechanism and Phased Progress of Global Pioneer Program
    With the advent of the Net5.5G era, the WBBA, IPv6 Forum, ITU-T, IETF, and Network Innovation and Development Alliance (NIDA) have collaborated to establish a next-generation network cooperation mechanism. While the WBBA and IPv6 Forum drive industry consensus, the ITU-T explores future network needs, the IETF spearheads the formulation of network technology standards, and the NIDA defines network construction standards and facilitates technology adoption. This multi-party collaboration marks a new phase of global network upgrades and lays a solid foundation for an intelligent society.
    The Global Net5.5G Pioneer Program has made steady progress. At the congress, industry leaders jointly released the latest progress of the program. To date, a number of outstanding Net5.5G pioneers have emerged globally, including 18 visionary pioneers, 2 region pioneers, and 18 business pioneers.
    Accelerated Net5.5G Commercial Deployment and Release of Best Practices Whitepaper
    Multiple carriers shared their experience and achievements in Net5.5G commercial deployment. As the integrated operator in Spain by user count, MasOrange builds an efficient capacity growth, ultimate experience and intent-based automation Net5.5G converged IP network. 400GE/800GE, SRv6 + slicing meet traffic surging and automatic network scheduling requirements, and supports new services such as edge computing in the future. Based on Network Digital Map,through AI empowerment, MasOrange will stride to AN L4, a new phase of intelligent evolution.Turkcell, a digital carrier in Türkiye, has built a stable, flexible, and experience-centric target network by leveraging key Net5.5G technologies such as 400GE/800GE, SRv6/slicing, and Network Digital Map. This network features ultra-high bandwidth, ultra-low latency, ultra-high reliability, and intelligence, significantly enhancing customer service experience and generating new business value. In addition, the WBBA has released the Net5.5G
    Best Practices & Deployment Guide Whitepaper, showcasing global Net5.5G best practices and providing valuable insights and inspiration for the industry.
    As Net5.5G continues to evolve, the WBBA urges global industry organizations to strengthen industry cooperation and jointly drive industry innovation in technical standards, policies, and commercial practices to foster a thriving data communications ecosystem.
    MWC Barcelona 2025 is held from March 3 to March 6 in Barcelona, Spain. During the event, Huawei will showcase its latest products and solutions at stand 1H50 in Fira Gran Via Hall 1. In 2025, commercial 5G-Advanced deployment will accelerate, and AI will help carriers reshape business, infrastructure, and O&M. Huawei is actively working with carriers and partners around the world to accelerate the transition towards an intelligent world. For more information, please visit: https://carrier.huawei.com/en/events/mwc2025

    MIL OSI Economics

  • MIL-OSI Security: Ex-Girlfriend of Crypto ‘Godfather’ Agrees to Plead Guilty to Tax Charge for Failing to Report More Than $2.6 Million in Illicit Income

    Source: Office of United States Attorneys

    LOS ANGELES – The former girlfriend of a cryptocurrency fraudster who dubbed himself “The Godfather” has agreed to plead guilty to a federal criminal tax charge for failing to report more than $2.6 million in ill-gotten gains she obtained via her then-boyfriend’s criminal activities, the Justice Department announced today.

    Iris Ramaya Au, 35, of Irvine, is charged in a single-count information with subscribing to a false tax return.

    Au has agreed to plead guilty to the felony charge and is expected to make her initial appearance in United States District Court in downtown Los Angeles in the coming days.

    According to Au’s plea agreement, from 2020 to 2024, Iza committed a series of crimes, including fraudulently obtaining access to advertising accounts and lines of credit provided by Facebook Inc. and Meta Platforms Inc. and selling access to those accounts. Iza obtained millions of dollars of unreported income as a result of these schemes.

    Separately, Iza engaged active Los Angeles County Sheriff’s Department (LASD) deputies to provide private security for him and caused the deputies, among other things, to obtain court-authorized search warrants and confidential law enforcement information targeting people with whom Iza had financial and personal disputes.

    At Iza’s direction, Au created shell corporations and opened bank accounts in the names of those entities. She then used the illicit funds placed into those accounts to pay approximately $1 million to the deputies, mostly in cash, purchase or lease luxury real estate, cars, jewelry, and clothing, pay for recreational activity for Iza and herself valued at nearly $10 million, and acquire approximately $16 million in cryptocurrency for Iza.

    Au admitted in her plea agreement that she transferred more than $2.6 million from these various accounts to her personal bank accounts during the period 2020 through 2023, income that she willfully failed to report to the IRS on her federal tax returns.

    After pleading guilty, Au will face up to three years in federal prison.

    On January 30, Iza appeared before a federal judge and pleaded guilty to a first superseding information charging him with conspiracy against rights, wire fraud, and tax evasion. His sentencing hearing is scheduled for June 16, at which time he will face up to 35 years in federal prison. Iza has been in federal custody since September 2024.

    IRS Criminal Investigation and the FBI are investigating this matter.

    Assistant United States Attorneys Daniel J. O’Brien and J. Jamari Buxton of the Public Corruption and Civil Rights Section, and Assistant United States Attorney Maxwell K. Coll of the Cyber and Intellectual Property Crimes Section are prosecuting this case.

    MIL Security OSI

  • MIL-OSI Security: Former Jackson Police Department Officer Sentenced to 24 Months in Prison for Making a False Statement in the Acquisition of a Firearm

    Source: Office of United States Attorneys

    JACKSON, MS – Torrence Donell Mayfield, of Raymond, a former Jackson Police Department officer was sentenced today to 24 months in prison for making a false statement to a firearms dealer in the acquisition of a firearm. Mayfield was also ordered to pay a $5,000 fine.
    According to court documents and statements in open court, Mayfield, 53, purchased a firearm for another person on October 26, 2021. That purchase was made at a pawn shop which is a Federal Firearms Licensee. Mayfield was required to complete a certain written form to purchase the firearm. On that written form, Mayfield indicated that he was purchasing the firearm for himself, not someone else. That statement was false. It is against federal law to make a false statement to a firearm dealer to acquire a firearm.
    Acting U.S. Attorney Patrick A. Lemon of the Southern District of Mississippi; and Federal Bureau of Investigation Special Agent in Charge Robert A. Eikhoff made the announcement.
    The FBI investigated the case.
    Assistant U.S. Attorneys Herbert S. Carraway and Charles W. Kirkham prosecuted the case.
     

    MIL Security OSI

  • MIL-OSI Security: New Jersey Company Sentenced for Clean Water Act Violations that Caused Fish Kill in Cheshire, Will Pay $1 Million

    Source: Office of United States Attorneys

    Marc H. Silverman, Acting United States Attorney for the District of Connecticut, and Kathryn Rivera, Acting Assistant Special Agent in Charge of EPA’s Criminal Investigation Division for New England, announced that NATIONAL WATER MAIN CLEANING COMPANY (“NWMCC”) was sentenced today by U.S. District Judge Kari A. Dooley in Bridgeport for a felony violation of the Clean Water Act (“CWA”) for knowingly discharging a pollutant into Cuff Brook while refurbishing a large culvert pipe in Cheshire, Connecticut, in July 2019.  The company’s unauthorized discharge of uncured geopolymer mortar killed more than 150 fish and contaminated Cuff Brook.

    Judge Dooley sentenced NWMCC to a term of federal probation with environmental conditions for three years, a $500,000 federal penalty, and a payment of $500,000 to the Connecticut Department of Energy and Environmental Protection (“CT DEEP”) to fund aquatic ecosystem enhancement projects in the South Central Coastal Watershed, where both Cheshire and Cuff Brook are located.

    NWMCC is based in New Jersey and owned by Carylon Corporation based in Chicago, Illinois.

    According to court documents and statements made in court, NWMCC had submitted the lowest bid and entered into a contract with the Town of Cheshire (“Cheshire”) to repair a decaying 11-foot culvert pipe underneath Marion Road.  Cheshire’s project specifications required that the work be done under dry conditions along with environmental controls to prevent uncured geopolymer mortar from leaking into Cuff Brook.

    With a Cheshire Department of Public Works (“DPW”) representative present each day, NWMCC began work on July 15, 2019.  However, from July 16 to July 18, 2019, NWMCC sprayed geopolymer mortar onto the culvert pipe without the mandated environmental controls.  On July 17, 2019, NWMCC crews continued to work despite heavy rain, which led to uncured geopolymer mortar seeping into Cuff Brook.  On July 18, 2019, a Cheshire resident with property abutting Cuff Brook observed dead fish and discolored water with an oily sheen in the brook, and smelled a chemical odor similar to lighter fluid.  CT DEEP responded and determined that NWMCC was responsible for the pollutant release, thereby killing more than 150 fish and contaminating the waterway.  CT DEEP estimated that Cuff Brook would not return to its prior state for three to five years.

    The government’s investigation revealed that NWMCC was aware that its environmental controls were deficient, but did not remediate these deficiencies during the project.  Although the company attempted to blame the pollutant release and fish kill on a single employee, the investigation showed that he had been inadequately trained, directed to complete the job in an unrealistic timeframe, and was never informed that the uncured geopolymer mortar was hazardous to the environment.

    The investigation also revealed that NWMCC lacked a meaningful and comprehensive environmental training program for its employees, particularly with respect to the CWA, even though NWMCC’s core business is repairing and rehabilitating infrastructure that interfaces with public waterways.  In addition, NWMCC’s bonus policy incentivized site supervisors and executives to push their work crews to perform projects quickly and maximize the number of jobs completed.  At the time of Cheshire project, NWMCC was operating under a Code of Conduct as part of a 2014 settlement with the Massachusetts Attorney General’s Office to resolve civil allegations involving environmental pollution. 

    NWMCC pleaded guilty to the offense on January 17, 2025.

    This matter was investigated by the U.S. Environmental Protection Agency – Criminal Investigation Division with the assistance of the Connecticut Department of Energy and Environmental Protection and the Connecticut Office of the Attorney General.  The case was prosecuted by Assistant U.S. Attorney Hal Chen with the assistance of EPA Regional Criminal Enforcement Counsel Man Chak Ng.

    MIL Security OSI