NewzIntel.com

Category: Taxation

  • MIL-OSI Security: United States seizes assets related to $126 million illegal staffing, money laundering investigation

    Source: Office of United States Attorneys

    DAYTON, Ohio – The U.S. Attorney’s Office for the Southern District of Ohio and U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) announced today that the United States filed a civil forfeiture complaint against assets related to an investigation into a potential $126 million illegal staffing and money laundering operation. 

    In July 2024, U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) special agents, in collaboration with IRS Criminal Investigations and other law enforcement agencies, executed federal search warrants at Fuyao Glass America (“FGA”) in Moraine, Ohio, and 27 other locations in the Dayton area.

    The civil complaint alleges that multiple suspects created roughly 40 entities (the “target entities”) that facilitate the harboring, transportation and employment of illegal aliens at various factories.   The suspects used these target entities to augment the workforces of several factories with individuals who illegally entered the United States, who are unlawfully present in the United States and/or who are working without required employment authorizations. One of these factories is FGA in Moraine. 

    It is alleged that many of the workers were illegally smuggled into the United States, primarily through Mexico, and encouraged to travel to the Dayton area to be employed by one of the target entities and serve as a workforce at the various factories. Most of the workers are of Chinese or Hispanic nationality. Workers allegedly lived at “family style hotels” (boarding houses) owned by the target entities and were driven to and from work in transportation provided by the target entities.

    “We will continue to investigate allegations of unfair labor practices,” said ICE HSI Detroit acting Special Agent in Charge Jared Murphey. “Collaboration across multiple law enforcement agencies helps to ensure accountability for both employers and the workforce.”

    The 74-page complaint details that the target entities allegedly engaged in money laundering to conceal the multi-million-dollar income generated by the workers. Within days of receiving direct payments from FGA, the suspects would extensively wire funds between their various LLCs. In total, FGA has paid more than $126 million to LLCs controlled by the suspects. The money was allegedly used by the suspects for private financial gain and to purchase real estate, vehicles and luxury goods.

    In the civil complaint filed on April 2, the United States alleges that the following property is subject to forfeiture: seven bank accounts, 12 properties in the Dayton area, two properties outside of Ohio, 15 vehicles and luxury goods, including a Cartier watch.

    The related criminal investigation remains ongoing.

    Kelly A. Norris, Acting United States Attorney for the Southern District of Ohio; Jared Murphey, Acting Special Agent in Charge, U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) Detroit; and Karen Wingerd, Special Agent in Charge, Internal Revenue Service (IRS) Criminal Investigations; announced the filing. The FBI, U.S. Border Patrol, U.S. Customs and Border Protection Office of Field Operations, ICE Enforcement and Removal Operations, Air Force Office of Special Investigations, Ohio State Highway Patrol and Montgomery County Sheriff’s Office have assisted in the criminal investigation. Assistant United States Attorneys Adam C. Tieger and Deborah D. Grimes are representing the United States in the civil forfeiture action.

    # # #

    MIL Security OSI –

  • MIL-OSI USA: Bipartisan Delegation Introduces Legislation To Boost Hiring Of Military Spouses

    Source: United States House of Representatives – Representative John R Carter (R-TX-31)

    Today, U.S. Reps. Don Beyer (D-VA), Mike Kelly (R-PA), John Carter (R-TX), and Jimmy Panetta (D-CA) led a bipartisan delegation in introducing the Military Spouse Hiring Act, legislation to amend the tax code to incentivize businesses to hire military spouses.

    Today, U.S. Reps. Don Beyer (D-VA), Mike Kelly (R-PA), John Carter (R-TX), and Jimmy Panetta (D-CA) led a bipartisan delegation in introducing the Military Spouse Hiring Act, legislation to amend the tax code to incentivize businesses to hire military spouses. Beyer, Kelly, and Panetta serve on the House Committee on Ways and Means, which has jurisdiction over tax policy, with Kelly chairing the Tax Subcommittee. Carter chairs the House Appropriations Subcommittee on Military Construction, Veterans Affairs, and Related Agencies, and is co-chair of the Army Caucus.

    “My mother was a military spouse, and I am keenly aware of challenges facing partners of active-duty servicemembers, who often have to relocate their families long distances,” said Rep. Beyer. “Our legislation would make important changes to the tax code to overcome hurdles to employment that disproportionately affect military spouses and show military families that ther service to the nation is valued.”

    “America’s soldiers and military families who support them on the frontlines deserve our nation’s support.” said Rep. Mike Kelly (R-PA), Chairman of the Ways & Means Subcommittee on Tax.  “Unfortunately, military spouses have a higher rate of unemployment and are often underemployed due to frequent relocations and service member deployments.  Our bipartisan, bicameral legislation aims to help active-duty families get a leg up financially by encouraging local businesses to hire more military spouses in their communities.  It’s a win-win for America.”

    “Military spouses do so much to support our servicemembers, but too often, they struggle to find steady jobs because of the unique challenges that face military families,” said Rep. Carter. “The Military Spouse Hiring Act is a simple, commonsense way to help—giving businesses an incentive to hire these hardworking men and women. At the end of the day, supporting military spouses means supporting military families, and that’s something we should all get behind.”

    “Military spouses face high unemployment rates and career instability due to the frequent relocations required by military service,” said Rep. Panetta. “The Military Spouse Hiring Act directly addresses this challenge by making military spouses eligible for the Work Opportunity Tax Credit, encouraging businesses to hire them and providing these families with greater economic stability.  This bipartisan, bicameral legislation is a commonsense step to support our military families and ensure that they have some stability through economic opportunity.”

    A Senate companion is being introduced by Senators Tim Kaine (D-VA), John Boozman (R-AR), and Maggie Hassan (D-NH).

    According to a survey by Blue Star Families, military spouse employment is the top issue impacting active-duty families, and the top contributor to financial stress among military families. Military spouses consistently experience unemployment rates substantially higher than the national rate, and two thirds of employed active duty military spouses report underemployment. Frequent moves often stall military spouses’ upward career progression and force them to find new jobs. This hurts military families and military readiness.

    Today’s legislation would address the issue by expanding the Work Opportunity Tax Credit program—which incentivizes employers to hire individuals who experience unique employment barriers—to include military spouses.

    The Military Spouse Hiring Act is supported by: Air & Space Forces Association (AFA), Air Force Sergeants Association (AFSA), Association of Military Surgeons of the United States (AMSUS), Chief Warrant Officers Association of the US Coast Guard (CWOA), Enlisted Association of the National Guard of the United States (EANGUS), Fleet Reserve Association (FRA), Jewish War Veterans (JWV), Marine Corps League (MCL), Military Chaplains Association (MCA), Military Family Advisory Network (MFAN), Military Officers Association of America (MOAA), Military Order of the Purple Heart (MOPH), Military Spouse Advocacy network (MSAN), National Defense Committee (NDC), National Military Family Association (NMFA), National Military Spouse Network (NMSN), Non Commissioned Officers Association (NCOA), Reserve Organization of America (ROA), Service Women’s Action Network (SWAN), The American Legion (TAL), The Retired Enlisted Association (TREA), Tragedy Assistance Program for Survivors (TAPS), United States Army Warrant Officers Association (USA WOA), Vietnam Veterans of America (VVA), Wounded Warrior Project (WWP)

    “Military spouse unemployment continues to hover at a very troubling 21%, and expanding the Work Opportunity Tax Credit (WOTC) would help bring that number down by incentivizing employers to hire our nation’s military spouses,” said Sue Hoppin, founder and president of the National Military Spouse Network. “Our mission is to support the efforts of spouses to secure viable careers within the military lifestyle and then help them pave the way for a successful transition post military life. This expansion would go a long way. We extend our sincere thanks and gratitude to Congressman Beyer, who has been a tireless champion of the Military Spouse Hiring Act.”

    “Employing military spouses is a strategic issue with direct ties to force readiness and the retention of experienced warfighters.  And in 2025, having two household incomes is a baseline requirement.  This bill eases an employer’s path to hiring from this talented pool of dedicated workers to invest in both military families and the viability of the all-volunteer force,” Lt. Gen. Brian Kelly, USAF (Ret), president and CEO of the Military Officers Association of America, said. “MOAA wants to thank Sens. Kaine, Boozman, Hassan and Rounds and Reps. Beyer, Kelly, Panetta and Carter for their ongoing work to support military spouses and families.”

    “Hiring a military spouse isn’t just good for a business, it’s good for America,” said Besa Pinchotti, CEO of the National Military Family Association. “Expanding the Work Opportunity tax Credit to include military spouses incentivizes businesses to employ military spouses, a highly qualified talent pool. It also supports military family financial security—ensuring our military is always ready. We’re grateful to Senators Boozman and Kaine and Representatives Kelly and Beyer for introducing this important legislation.”

    The bill has a history of robust bipartisan support in both chambers. Full text of the legislation is available here, with a summary here.

    MIL OSI USA News –

  • MIL-OSI USA: Lankford, Steube Protect Charities from Government Overreach

    US Senate News:

    Source: United States Senator for Oklahoma James Lankford

    OKLAHOMA CITY, OK — Senator James Lankford (R-OK) and Congressman Greg Steube (R-FL) introduced the Safeguarding Charity Act to protect the independence of our nation’s tax-exempt organizations. It safeguards churches, nonprofits, and private schools from a perilous line of litigation in federal courts that could subject them to burdensome federal regulations.

    “Tax-exempt organizations should not live in fear of federal control every day because courts want to redefine the meaning of tax-exempt status. Tax-exempt status is not the same as receiving federal funding, and it should not be used as political leverage against the nonprofits in Oklahoma and across the nation,” said Lankford. “We should be focused on enabling the work of these organizations—not burdening them with unnecessary and costly federal requirements.”

    “Radical judges do not have the authority to twist federal law and force religious institutions to choose between their convictions and compliance,” said Steube. “The Safeguarding Charity Act reaffirms that tax-exempt status does not mean an organization is receiving federal financial assistance. This bill is about protecting churches, religious schools, and charities from federal overreach. I’m grateful to Senator Lankford for his leadership on this important effort in the Senate.”

    “Charities and other nonprofits provide invaluable services to their communities,” said Greg Baylor, Alliance Defending Freedom (ADF) Senior Counsel. “In part to recognize their critical work, nonprofits are tax-exempt so that they can devote scarce resources to serving those in need. Until recently, no one really thought that their tax-exempt status was the sort of “federal financial assistance” that triggered the application of several burdensome federal statutes and regulations. But some courts have embraced this unfounded view, and Congress needs to set things straight. Let’s be clear: a nonprofit’s tax-exempt status should not be considered government funding and thus should not trigger multiple burdensome federal laws under which charities and other nonprofits could lose their tax-exempt status. ADF commends Sen. Lankford and Rep. Steube for introducing the Safeguarding Charity Act to protect nonprofits from these financially crushing burdens so that nonprofits can continue to serve their communities free from unfair and unexpected government overreach.” 

    “ACSI commends Senator Lankford and Congressman Steube for their leadership in introducing the Safeguarding Charity Act,” said P. George Tryfiates, VP for Public Policy and Legal Affairs at the Association of Christian Schools International. “This legislation is critical to set the record straight: an organization’s nonprofit status is not the receipt of federal financial assistance. It never has been. It is not now. Politically motivated lawsuits based on this false premise must stop, or else all nonprofits will be at risk. We urge every member of Congress to support the Safeguarding Charity Act.” 

    “Agudath Israel of America is pleased to support the ‘Safeguarding Charity Act (SCA),’ introduced by Senator James Lankford and Representative Greg Steube,” said Rabbi Abba Cohen, VP for Government Affairs of Agudath Israel of America. “This legislation is vitally important to nonprofits across the country, including synagogues, religious schools and charities within the Jewish community.  It will enshrine into law that which has generally been understood that ‘tax-exempt status’ does not constitute ‘federal financial assistance.’” 

    Background

    The legislation is also supported by Philanthropy Roundtable, Seventh-day Adventist Church, ERLC,  American Association of Christian Schools, Association for Biblical Higher Education, Family Research Council, Citygate Network, Christian Employers Alliance, and National Hispanic Christian Leadership Conference.

    Lankford first introduced the legislation with Congressman Steube in 2024.

    In 2023, Lankford also introduced the Charitable Act to incentivize giving to America’s nonprofits. The bill would expand and extend the expired non-itemized deduction for charitable giving that would ensure Americans who donate to charities, houses of worship, religious organizations, and other nonprofits of their choice are able to deduct that donation from their federal taxes at a higher level than the previous $300 deduction.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: UK sends multi-million pound military equipment loan to Ukraine

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK sends multi-million pound military equipment loan to Ukraine

    The UK makes second £752 million payment to Ukraine through the Extraordinary Revenue Acceleration Loans for Ukraine scheme.

    A £752 million payment has today (14 April) been sent to Ukraine through the Extraordinary Revenue Acceleration Loans for Ukraine scheme. The funding will support Ukraine to procure vital military equipment, including urgently needed air defence. This comes as Russia continues its air assault on Ukraine, striking the city of Sumy.

    The loan, which will be paid for through the profits of sanctioned Russian sovereign assets in the EU, forms part of a wider £2.26 billion loan agreed between the Chancellor and Minister Marchenko on 1 March.

    The payment highlights the UK’s steadfast support to Ukraine whilst building on the Chancellor’s Spring Statement pledge to go further and faster to protect our national security and maximise the economic growth potential of the UK defence sector. The equipment support and maintenance elements will be mainly spent in the UK, boosting the UK economy and skilled jobs.

    Rachel Reeves, Chancellor of the Exchequer said:

    The world is changing before our eyes, reshaped by global instability, including Russian aggression in Ukraine. 

    A strong Ukraine is vital to UK national security and this second tranche of funding will help put them in the strongest possible position, and contribute towards our collective security.

    Defence Secretary, John Healey MP said:

    2025 is the critical year for Ukraine and this is the critical moment. This is the moment for our defence industries to step up, and they are; a moment for our militaries to step up, and they are; a moment for our Governments to step up, and we are.

    This new tranche of funds is part of our £4.5 billion of military support this year – more than ever before – and will be used to buy urgently needed air defence, artillery, and parts to help repair vehicles and equipment to get them back into the fight.

    We are stepping up support for Ukraine to deter Russian aggression and bolster Britain’s national security as the foundation of our Plan for Change.

    Today’s payment forms the second part of the UK’s £2.26 billion loan, which has been spaced into three separate tranches to give Ukraine more flexibility and allow them to swiftly adapt to the ever-changing battlefield. The first payment was made on 6 March, with the final payment to follow in 2026.

    The multi-billion payment forms part of the UK’s contribution to the Extraordinary Revenue Acceleration Loans for Ukraine scheme, which is a G7 commitment to collectively support Ukraine through a total of $50 billion.

    It follows a £450 million surge in military support that was announced by the UK last week, which includes £350 million from this year’s record £4.5 billion military support funding for Ukraine. Further funding is being provided by Norway, via the UK-led International Fund for Ukraine.

    In addition to providing financial support, the Ministry of Defence will also support Ukraine to procure the equipment needed to fight Russia’s invasion. This will include a new ‘close fight’ military aid package – with funding for radar systems, anti-tank mines and hundreds of thousands of drones – worth more than £250 million, using funding from the UK and Norway.

    The government’s Plan for Change will see UK defence spending increased to 2.5% of GDP by 2027. The UK’s world-leading defence sector is vital to the economy, supporting 430,000 high-skilled, high-paid jobs across the UK and strengthening our security. 68% of defence spending is outside of London and the South East, benefitting every nation and region of the UK.

    Updates to this page

    Published 14 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Blockgraph and the 4As Partner to Release New Research About the Power of Household Identity in the New TV Era

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 14, 2025 (GLOBE NEWSWIRE) — Blockgraph, the privacy-first data collaboration platform designed to fuel the future of connected TV advertising, and the American Association of Advertising Agencies (“the 4As”) today announced the release of a new research report titled, “Reconvening in the Home: The Power of Household Identity in the New TV Era”. Ahead of this year’s upfronts, the research offers a strategic roadmap, revealing how household identity will increasingly play a central role in shaping upfront negotiations, outcome-based guarantees, multi-screen media planning, and performance-based measurement.

    The television landscape continues to shift and marketers and advertisers are faced with a rapidly evolving macroeconomic environment where more sophisticated audience measurement tools are now required to connect households to outcomes.

    “Household identity is an important strategy for reimagining how advertisers connect real-world behaviors and decision-making dynamics,” asserted Ashwini Karandikar, EVP, Media Tech & Data at the 4As. “The environment has never been more complex with today’s fragmented TV ecosystem, coupled with the inefficiencies in targeting and gaps in measurement. This research informs advertisers, agencies and publishers about how they can optimize their strategies across platforms while prioritizing consumer privacy and data security.”

    Key findings and insights from the research include:

    1. The Importance of Household Strategies: The study details why household-level identity is essential for omnichannel advertisers to optimize their campaigns and measure performance across multiple touchpoints. Household identity enables brands to more precisely understand consumer behavior, ensuring more effective targeting and performance assessment.
    2. Addressing Privacy Regulations and Signal Loss: With increasing privacy regulations and the diminishing availability of traditional signals like IP addresses and cookies, the report explains how household identity can thrive in this new environment. It also highlights why person-based identity is no longer sufficient and how shifting to a household-first approach is essential for privacy-compliant, effective targeting.
    3. Approaches to Household Identity Resolution: The research provides a practical guide to leveraging first-party, second-party, and third-party data for household-level targeting and measurement. By integrating these data sources, marketers can create more comprehensive, accurate audience profiles, driving better campaign outcomes.
    4. Steps to Create and Execute a Household Identity Strategy: The report offers a step-by-step guide for marketers looking to future-proof their identity strategy, outlining how to create a robust, scalable approach that ensures long-term success in the rapidly changing advertising ecosystem.

    “The household is the heartbeat of how TV is experienced today. When marketers can connect media exposure to real world outcomes at the household level it unlocks a true understanding of performance,” commented Jason Manningham, CEO of Blockgraph. “The future of TV is predicated on effective outcome-based measurement and campaign planning, but that only works when grounded in high quality, first party identity.”

    “This report showcases just how valuable, accurate, and dependable household identity can be in shaping future innovations in TV advertising,” said Jason Brown, Senior Vice President, Chief Revenue Officer for Spectrum Reach. “In today’s advertising environment, embracing household identity data is essential for brands to stay competitive. Blockgraph, and the 4A’s are simplifying that task by providing insights that enable advertisers to effectively target, reach, and measure audiences across all platforms–making the most of their ad budgets.”

    “With signal loss and growing fragmentation, it is more and more important to ground your strategy in the ability to distinguish households in order to support more accurate audience identity and measurement and to optimize the effectiveness of media spend,” added Carmela Fournier, VP and GM of Data, Comcast Advertising.

    The full research report is available for download on the 4A’s website here: https://www.aaaa.org/resource/reconvening-in-the-home-the-power-of-household-identity-in-the-new-tv-era.

    About Blockgraph
    Blockgraph is a leading privacy-centric identity and data collaboration platform
    designed to fuel the future of connected TV advertising. By enabling secure, privacy-focused household identity resolution, the world’s leading media, technology, and information services companies rely on Blockgraph to collaborate with trusted partners—empowering brands and agencies to connect with audiences more effectively, maximizing reach and performance while protecting consumer privacy. Blockgraph is owned by Charter Communications Inc., Comcast NBCUniversal, and Paramount.

    About the 4As
    The 4As was established in 1917 to promote, advance, and defend the interests of our member agencies, employees and the advertising and marketing industries overall. We empower and equip our members to confidently navigate the ever-changing ecosystem of the agency world. We ensure they remain relevant, are positioned to compete, and have the resources to thrive and grow. With a focus on advocacy, talent and creating impact, the organization serves 600+ member agencies across 1,200 offices, which help direct more than 85% of total U.S. advertising spend. The 4As includes the 4As Benefits division, which insures more than 160,000 employees; the government relations team, who advocate for policies to support the industry; and the 4As Foundation, which advocates for and connects rising talent to the marketing industry by fostering a culture of curiosity, creativity and craft to fuel a more equitable future for the industry.

    Contact:
    Alexandra Levy
    650-996-5758
    alex@siliconalley-media.com

    The MIL Network –

  • MIL-OSI: Say Hello to the New TaxRise: A Modern Brand for Smarter Tax Relief Solutions

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., April 14, 2025 (GLOBE NEWSWIRE) — Since 2017, TaxRise has resolved tax problems for thousands of clients nationwide, saving its clients millions of dollars.* Spearheaded by founder and CEO Essam Abdullah, the company has been modernizing and streamlining the IRS resolution process.

    A New Enhanced Brand Identity

    Modern times call for innovative thinking – a mentality TaxRise has embraced moving forward into 2025. The tax relief company is setting its gaze toward the future and tackling the whys, whats, and hows: why change now? What are taxpayers’ pain points? How do they better serve their clients?

    “TaxRise is innovating because we see client pain points left unanswered in this unchanged industry. Our company is launching new tools and processes to ease the complicated IRS tax system while being a resourceful hub of information for taxpayers,” explains Abdullah.

    Their new website features simple navigation and digestible information, promising and reassuring taxpayers that TaxRise is here to help no matter how complex their case is. TaxRise has built its entire approach around making tax resolution support accessible, transparent, and helpful.

    With this new launch, TaxRise has also debuted a new brand logo to accompany its tagline, “Every client. Every time.” The lowercase and rounded wordmark artistically conveys approachability and trustworthiness – traits that any taxpayer in turmoil with the IRS would seek.

    TaxRise’s Core Values

    Millions of Americans with growing IRS tax debt are struggling to find solutions in an intimidating industry. TaxRise intends to innovate the tax resolution landscape by transforming a traditionally complex and stressful process into a compassionate, streamlined experience.

    “For the past decade, TaxRise’s journey in the tax relief industry has been driven by a relentless commitment to enhancing the experience for our clients and our team,” recalls Abdullah. “By actively listening to those we serve and those who help us serve, we have reached a pivotal moment of growth and clarity.”

    The tax relief company aims to empower individuals and businesses by providing personalized, cutting-edge solutions that alleviate tax debt burdens. Pushing boundaries in a rigid industry, the team has pioneered a client-centric approach, rebuking the deeply rooted and dishonest practices employed by others in the tax relief space.

    “Through this evolution, we have refined five core pillars that characterize our success and the trust of thousands of taxpayers. As we embrace this new chapter, we are excited to share these principles with the world,” says Abdullah.

    TaxRise’s first core pillar fosters a culture of Humanity. They believe that compassion for every client and employee is essential to what makes them who they are. It is foundational for the success of all valued clients and their cases.

    The second is Transparency. Being consistent in TaxRise processes and prioritizing communication with their clients and team makes them a reliable organization for those involved.

    Third is Leadership. Stepping forward into difficult choices and conversations is how TaxRise redeems the industry.

    Fourth is Intentional Innovation. TaxRise doesn’t believe in innovation for the sake of innovating. The team constantly asks themselves: ‘How can we improve the process?’

    The fifth and final pillar is Simplicity. The company aims for solutions that untangle complex processes, systems, and decisions.

    “These five principles light a beacon in a complicated and confusing industry. With these promises, individuals and business owners can expect efficient service and responsive IRS representation from our team,” explains the CEO of TaxRise.

    About TaxRise

    TaxRise is a national full-service tax resolution company serving individuals, families, and business owners. The company specializes in resolving IRS back taxes and state tax issues, offering a free consultation to educate and help taxpayers explore their options. TaxRise is accredited by the Better Business Bureau (BBB), a recipient of the BBB Torch Award for Ethics, and is a member of the National Association of Enrolled Agents (NAEA) and National Association of Tax Professionals (NATP).

    Learn more at taxrise.com – Every client. Every time.

    *Statements about service performance are based on historical results. Individual results will vary and are not guaranteed.

    Tax Rise Inc. is a tax resolution firm independent from the IRS. We do not assume tax liability, make payments to taxing authorities or creditors, or provide tax, bankruptcy, accounting, or legal advice.

    Photos accompanying this announcement are available at: 

    https://www.globenewswire.com/NewsRoom/AttachmentNg/adabebf0-3791-4e9c-b73c-ca1a08aa9015

    https://www.globenewswire.com/NewsRoom/AttachmentNg/1a62b672-856e-4352-b75b-bd00b2819d52

    The MIL Network –

  • MIL-OSI United Kingdom: UK sanctions Iranian organised crime network

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK sanctions Iranian organised crime network

    The UK has announced further sanctions to tackle the domestic threat posed by the Iranian regime by sanctioning Iranian-backed, Swedish-based Foxtrot criminal Network and its leader, Rawa Majid, for their role in attacks against targets across Europe.

    Foreign Secretary, David Lammy said:

    Today, the UK has announced sanctions against the notorious criminal Foxtrot Network and its leadership.

    The Iranian regime uses criminal gangs across the world to threaten people. The UK has targeted this criminal network and its leader, Rawa Majid, due to their involvement in violence against Jewish and Israeli targets in Europe on behalf of the Iranian regime. The UK will not tolerate these threats.

    This forms part of the UK Government’s ongoing response to Iranian hostilities in Europe. Last month, we announced that Iran will be placed on the enhanced tier of the Foreign Influence Registration Scheme (FIRS) and to date, the UK has sanctioned more than 450 Iranian individuals and entities, in response to the regime’s human rights violations, nuclear weapons programme and malign influence internationally.

    The UK Government will continue to hold the Iranian regime and criminals acting on its behalf to account.

    Background

    The Individual that is subject to a UK travel ban, asset freeze and director disqualification:

    • Rawa Majid, Head of the Foxtrot Network

    The following organisation is also being sanctioned by the UK and is subject to an asset freeze and director disqualification:

    • Foxtrot Network
    • Since the start of 2022, the UK has responded to more than 20 Iran-backed plots, presenting potentially lethal threats to British citizens and UK residents.
    • Today’s designations were made under the 2023 Iran Sanctions Regulations, which came into force in December 2023 : [Iran sanctions: guidance – GOV.UK](Iran sanctions: guidance – GOV.UK
    • On 4 March 2025 the Security Minister’s statement to Parliament confirmed Iran would be specified on the enhanced tier of the Foreign Influence Registration Scheme (FIRS), and that the government will work with our allies to better understand, expose, and condemn Iranian actions; and bring Iranian-linked criminals to justice wherever in the world they may be – Protecting national security – GOV.UK
    • The US designated Majid and the Foxtrot Network in March 2025.

    Definitions:  

    • Asset freeze: an asset freeze prevents any UK citizen, or any business in the UK, from dealing with any funds or economic resources which are owned, held or controlled by the designated person. It also prevents funds or economic resources being provided to or for the benefit of the designated person. UK financial sanctions apply to all persons within the territory and territorial sea of the UK and to all UK persons, wherever they are in the world.
    • Travel ban: a travel ban means that the designated person must be refused leave to enter or to remain in the United Kingdom, as the individual is an excluded person under section 8B of the Immigration Act 1971.
    • Director disqualification: Where director disqualification sanctions apply, it is an offence for a person designated for the purpose of those sanctions to act as a director of a UK company, or a foreign company that is sufficiently-connected to the UK, or to take part in the management, formation or promotion of a company.

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 14 April 2025

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Integrated Rescue System (IRS) security exercise takes place at CNB headquarters

    Source: Czech National Bank

    On Monday 14 April, a planned security exercise of the Integrated Rescue System (IRS) units took place at the Czech National Bank’s headquarters in Prague. Its aim was to test the preparedness and coordination of individual IRS units in dealing with emergencies at a bank. This was one of the exercises regularly organised for the emergency services.

    The IRS security exercise took place from 2.30 p.m. to 4 p.m. at the CNB’s headquarters on Na Příkopě Street. Throughout the exercise, a section of the building was closed to the public and reserved exclusively for exercise participants, which included not only members of the IRS units, but also CNB staff and emergency services personnel who acted as role-players, as well as invited observers.

    The entire exercise was conducted in accordance with a predefined scenario and did not interfere with the bank’s day-to-day operations.

    Petra Vlčková
    CNB spokesperson

    MIL OSI Economics –

  • MIL-OSI Security: Darknet Vendor Sentenced for Conspiracy to Sell Counterfeit Drugs

    Source: Office of United States Attorneys

    LONDON, Ky. – A Lebanese and Italian national, Alessandro Sabbagh, 27, was sentenced on Friday by U.S. District Judge Robert Wier to 78 months in prison, for conspiracy to sell counterfeit drugs and knowingly causing the sale of a counterfeit drug.  

    According to his plea agreement, between January 2017 and October 2021, Sabbagh conspired with others to manufacture and sell counterfeit generic alprazolam pills. Sabbagh and his co-conspirators, without authorization, created pills stamped with manufacturer imprints designed to replicate the appearance of actual alprazolam pills. The benzodiazepine-class drugs used by the co-conspirators in the counterfeit pills have no accepted medical use in the United States. Sabbagh and his co-conspirators then sold these counterfeit pills in the Eastern District of Kentucky and throughout the United States via darknet marketplaces, receiving payment for the sales in cryptocurrencies. Sabbagh managed multiple vendor accounts across several darknet marketplaces and was responsible for sales to customers and providing lists of customer orders to co-conspirators who manufactured and shipped the counterfeit alprazolam pills. Over the course of the conspiracy, Sabbagh and his co-conspirators trafficked counterfeit alprazolam valued at more than $25 million. 

    Under federal law, Sabbagh must serve 85 percent of his prison sentence. Upon his release from prison, he will be under the supervision of the U.S. Probation Office for three years. Sabbagh must also forfeit cryptocurrency seized by the Drug Enforcement Administration, and agreed to the imposition of a $5,055,377 forfeiture money judgment, representing the amount of proceeds he received from the scheme.

    Paul McCaffrey, Acting United States Attorney for the Eastern District of Kentucky; Jim Scott, Special Agent in Charge, DEA, Louisville Field Division; Karen Wingerd, Special Agent in Charge, IRS-Criminal Investigations, Cincinnati Field Division, Quincy Barnett, Acting Special Agent in Charge, FBI, Louisville Field Office; and Chief Jeff Couch, Manchester Police Department, jointly announced the sentence.

    The investigation was conducted by the DEA, IRS, FBI, and Manchester Police Department. Assistant U.S. Attorney Gregory Rosenberg is prosecuting the case on behalf of the United States.

    – END –

     

    MIL Security OSI –

  • MIL-OSI: APA Corporation Announces Executive Leadership Updates; Ben C. Rodgers Promoted to Executive Vice President and Chief Financial Officer, Operational Leaders Added to Support Key Priorities

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, April 14, 2025 (GLOBE NEWSWIRE) — APA Corporation (Nasdaq: APA) today announced key updates to its executive leadership team.

    Ben Rodgers has been named executive vice president and chief financial officer, effective May 12, 2025. In this role, he will oversee all financial activities and departments, including Accounting, Audit, Investor Relations, Planning, Tax and Treasury. Rodgers joined APA in 2018 and previously served as SVP, Finance and Treasurer. He also served as CFO of Altus Midstream and later as a director on the board of Kinetik Holdings Inc. He currently serves on the board of Khalda Petroleum Company, a joint venture between APA subsidiary Apache Corporation and Egypt Petroleum Company.

    Steve Riney will continue in his role as president, overseeing asset development and operations. As part of Steve’s team, the company has added two key executives to help oversee operations.

    Shad Frazier has joined as senior vice president, U.S. Onshore Operations, effective immediately. Shad has nearly 30 years of industry experience, most recently as vice president, Production Operations at Endeavor Energy Resources, LP. Previously, he held various leadership positions at Legacy Reserves and SandRidge Energy. He holds a petroleum engineering degree from Texas Tech University and a master’s degree in business administration from Oklahoma University.

    Donald Martin will also be joining the company as vice president, Decommissioning, effective May 26, 2025. Donald has 20 years of operations and decommissioning portfolio experience, most recently as the head of decommissioning & projects at Spirit Energy E&P. He has also managed decommissioning at Canadian Natural Resources E&P. Donald holds a master’s degree with distinction in major programme management from Oxford University.

    “I am pleased to welcome Ben to our executive leadership team. He has done a tremendous job and will bring valuable expertise to our financial operations,” said John J. Christmann, APA Corporation CEO. “I am also excited to welcome both Shad and Donald to the team. Their extensive experience and leadership will be instrumental in driving our operations forward.”

    About APA

    APA Corporation owns consolidated subsidiaries that explore for and produce oil and natural gas in the United States, Egypt and the United Kingdom and that explore for oil and natural gas offshore Suriname and elsewhere. APA posts announcements, operational updates, investor information and press releases on its website, www.apacorp.com.

    Contacts
    Investor:  (281) 302-2286
    Media: (713) 296-7276  
    Website:  www.apacorp.com 
       

    APA-G

    The MIL Network –

  • MIL-OSI: ARRAY Technologies Appoints Nick Strevel as Senior Vice President of Product Management and Technical Sales

    Source: GlobeNewswire (MIL-OSI)

    ALBUQUERQUE, N.M., April 14, 2025 (GLOBE NEWSWIRE) — ARRAY Technologies (NASDAQ: ARRY) (“ARRAY” or the “Company”), a leading provider of tracker solutions and services for utility-scale solar energy projects, announced the appointment of Nick Strevel as senior vice president of product management and technical sales, effective today.

    In this dual leadership role, Strevel will be responsible for driving ARRAY’s global product strategy and building a high-performing technical sales function that strengthens ARRAY’s relationships with customers and partners worldwide.

    “Nick brings a rare blend of technical depth, commercial acumen, and international experience that will accelerate ARRAY’s innovation and customer engagement,” said Kevin G. Hostetler, chief executive officer at ARRAY. “Nick’s leadership will help ensure our products and solutions are contributing to driving the renewable energy sector and positioned for long-term success.”

    Strevel joins ARRAY from First Solar, where he spent more than a decade in increasingly senior roles across product management, technical sales, and technology development. Most recently, he served as Vice President of Product, responsible for driving the global product roadmap and aligning technology development with customer needs and market opportunities. Prior to that, he led First Solar’s global technical sales team and held multiple engineering and leadership positions in the U.S. and Germany.

    At ARRAY, Strevel will lead the development and execution of the company’s product strategy, promoting cutting-edge innovations and solutions for our customers. He will also oversee the creation of ARRAY’s technical sales function, empowering teams with the tools, knowledge, and processes needed to deliver high-impact, solution-based selling around the globe.

    “I’m thrilled to join ARRAY at such a transformative time for the solar industry,” said Strevel. “ARRAY’s commitment to innovation and customer success will allow us to help shape the next generation of solar tracking solutions that drive value for our customers and accelerate the clean energy transition.”

    With over 15 years of experience in the renewable energy and automotive electrification sectors, Strevel brings deep expertise in thin-film photovoltaics, semiconductor manufacturing, and custom equipment development. He began his career at United Solar Ovonic as a semiconductor process engineer and later served as a senior application engineer based in Frankfurt, Germany.

    Strevel holds a Bachelor of Science in Mechanical Engineering from Michigan State University and studied at RWTH Aachen University in Germany.

    About ARRAY
    ARRAY Technologies (NASDAQ: ARRY) is a leading global provider of solar tracking technology to utility-scale and distributed generation customers who construct, develop, and operate solar PV sites. With solutions engineered to withstand the harshest weather conditions, ARRAY’s high-quality solar trackers, software platforms and field services combine to maximize energy production and deliver value to our customers for the entire lifecycle of a project. Founded and headquartered in the United States, ARRAY is rooted in manufacturing and driven by technology – relying on its domestic manufacturing, diversified global supply chain, and customer-centric approach to design, deliver, commission, train, and support solar energy deployment around the world. For more news and information on ARRAY, please visit arraytechinc.com.

    Forward Looking Statement
    This press release contains forward-looking statements. These statements are not historical facts but rather are based on the Company’s current expectations and projections regarding its business, operations and other factors relating thereto. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors. Forward-looking statements should be evaluated together with the risks and uncertainties that affect our business and operations, particularly those described in more detail in the Company’s most recent Annual Report on Form 10-K and other documents on file with the SEC, each of which can be found on our website www.arraytechinc.com. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.  

    Media Contact
    Nicole Stewart
    505.589.8257
    nicole.stewart@arraytechinc.com

    Investor Relations Contact
    Array Technologies, Inc.
    Investor Relations
    investors@arraytechinc.com

    The MIL Network –

  • MIL-OSI Global: Social Security’s trust fund could run out of money sooner than expected due to changes in taxes and benefits

    Source: The Conversation – USA – By Dennis W. Jansen, Professor of Economics and Director of the Private Enterprise Research Center, Texas A&M University

    A closed entrance to the Social Security Administration headquarters sits empty in Woodlawn, Md., on March 20, 2025. Wesley Lapointe/The Washington Post via Getty Images

    Social Security is one of the federal government’s biggest programs.

    Roughly 67 million Americans, most of whom are 65 or older, received Social Security benefits in 2023. An estimated 183 million workers paid the Social Security payroll taxes that provided the bulk of the nearly US$1.4 trillion in benefits that year, which consumed 21% of the total federal budget.

    But within a decade, Social Security could run short on funds to pay the full benefits Americans are counting on.

    The retirement and disability program has been running a cash-flow deficit since 2010. The $2.7 trillion held in its two trust funds may seem immense, but those reserves are diminishing as the number of Americans getting benefits grows. Social Security’s trustees, a group that includes the secretaries of the departments of Treasury, Labor, and Health and Human Services, as well as the Social Security commissioner, projected in 2024 that both of its trust funds would be completely drained by 2035.

    Under current law, when that trust fund is empty, Social Security can pay benefits only from dedicated tax revenues, which would, by that point, cover only about 79% of promised benefits. Another way to say this is that when that trust fund is depleted, the people who rely on Social Security for some or the bulk of their income would see a sudden 21% cut in their monthly checks in 2036.

    As an economist who studies the Social Security system, I am alarmed that Democratic and Republican administrations alike have failed for more than three decades to take the actions necessary to keep its funding on track, either by raising taxes or cutting benefits. Instead, Congress has only made the program’s funding outlook worse. And now, the Trump administration is reducing the program’s staff, sending confusing signals about changes it intends to make, and undercutting the quality of service for the people who are eligible for these benefits.

    But I do believe there are strategies that could help.

    Taking steps backward

    This gloomy outlook was clear to experts at least 32 years ago. In 1993, the Social Security trustees projected that the assets of the systems’ trust funds would be depleted in 2036.

    Rather than resolve this now more imminent problem, Congress passed a law in December 2024 that could accelerate the crisis.

    Called the Social Security Fairness Act, President Joe Biden signed it into law in early January. This measure ended the government’s prior practice of paying reduced Social Security benefits to retired teachers, firefighters and others who had pensions from their years of public service and who had not paid Social Security tax on much of their income. Now, these retirees will get full Social Security benefits. The Congressional Budget Office estimates that this change will cause the trust fund to be depleted six months earlier than previously expected.

    President Donald Trump, for his part, wants the tax reform legislation Congress is working on to exempt all Social Security benefit payments from federal income taxes. Rep. Thomas Massie, a Kentucky Republican, has reintroduced a bill that would do that.

    The University of Pennsylvania’s Penn Wharton Budget Model finds that should this new exemption take effect, it could make the trust fund run out of money two years earlier than the model currently predicts, hastening the day the Social Security program is forced to cut benefits.

    In addition, Social Security already had record-sized backlogs of what it calls “pending actions,” according to a report from its own inspector general in August 2024.

    And yet, despite this need to process paperwork faster, the agency is now less able to carry out its mission due to staffing cuts attributed to billionaire and Trump adviser Elon Musk’s so-called Department of Government Efficiency.

    Principles for successful reform

    Social Security is funded by a payroll tax of 12.4% on wages, which is split equally between workers and employers. Self-employed people pay the entire 12.4%. This payroll tax only applies to earnings up to $176,100 for 2025. The government increases this cap annually based on wage increases and inflation.

    The program also receives about 5% of its revenue from interest generated by its trust funds and about 4% of its revenue from the tax that Trump wants to repeal.

    The Committee for a Responsible Federal Budget, a nonpartisan nonprofit that focuses on fiscal policy, provides an online interactive tool to help people see for themselves what specific measures might do to shore up Social Security. Examples include increasing the retirement age by one month every two years and increasing the cap on income subject to the payroll tax that funds Social Security so it covers more of the highest-earners’ income.

    The Brookings Institution, a centrist think tank, has presented its own bipartisan blueprint for making the system solvent. The Social Security Administration itself has pooled what it sees as good ideas from outside experts.

    Three main principles characterize the approaches supported by the policy analysts and researchers who have considered which reforms to Social Security might strengthen its finances and long-term continuing viability:

    1. The program should be self-funded in the long run so that its annual revenues match its annual expenses.

    2. The reform burden should be shared across generations. Current retirees can share the burden through a reduction in the cost-of-living adjustment. Today’s workers can share the burden through an increase in the cap on income subjected to Social Security taxes. Gradually increasing the retirement age to keep pace with anticipated longevity gains would also be borne by current workers and young Americans who haven’t gotten their first job yet.

    3. The government should make sure that Social Security benefits will be adequate for lower-income retirees for years to come. That means reforms that slow the benefit growth of future retirees would be designed to affect only payments to higher-income retirees.

    Ideally, in my view, any changes to Social Security should also help constrain the future growth of federal spending, given the current and projected growth in the budget deficit.

    Past reform efforts

    The last time the government made big changes to Social Security was in 1983, during the Reagan administration.

    Back then, the government enacted reforms that slowly reduced benefits over time. These changes included raising the full retirement age, a change that is still being phased in. Because of those changes, workers born in 1960 or later cannot retire with full benefits until age 67 – two years later than the original retirement age.

    The 1983 reforms also gradually increased the Social Security payroll tax rate from 10.4% to 12.4% by 1990, and for the first time levied federal income taxes on higher-income retirees’ benefits. Workers bore the burden of the payroll tax increases, and higher-income retirees bore the burden of the tax on benefits.

    Those changes bolstered the program’s finances. One of those measures could potentially end if Trump manages to end the taxation of retirees’ Social Security benefits.

    Today, about half of the Americans getting Social Security benefits pay some federal income taxes on that income, contributing revenue that helps finance the program as a whole. Taxpayers with annual income of at least $205,000 pay income tax that claws back about 20% of their benefits. That percentage is smaller for taxpayers with lower incomes. Individuals who get Social Security benefits and have incomes of less than $25,000 and couples making no more than $32,000 pay no income taxes on their Social Security benefits at all.

    The most recent bipartisan effort to preserve the system’s solvency was in 2001. The Commission to Strengthen Social Security, during the George W. Bush administration, tried – and failed – to get Congress to enact reforms to shore up the program’s finances.

    More than 20 years later, Americans and their elected representatives still seem unwilling to have a serious debate on these issues.

    I believe waiting any longer is unwise.

    Any solutions that might be introduced gradually today will no longer be viable in 2035 if the trust fund has been completely hollowed out. That would leave millions of older adults with lower incomes than they were counting on, plunging many of them into poverty.

    Portions of this article were included in another piece published on June 1, 2023.

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

    – ref. Social Security’s trust fund could run out of money sooner than expected due to changes in taxes and benefits – https://theconversation.com/social-securitys-trust-fund-could-run-out-of-money-sooner-than-expected-due-to-changes-in-taxes-and-benefits-253508

    MIL OSI – Global Reports –

  • MIL-OSI Global: 401(k) plans and stock market volatility: What you need to know

    Source: The Conversation – USA – By Ronald Premuroso, Accounting Instructor, Western Governors University School of Business

    It’s been a wild ride. iStock/Getty Images Plus

    With stock market charts resembling the contours of a roller-coaster ride in recent days, many Americans could be forgiven for eyeing their 401(k)s with a little concern.

    Retirement savings are crucial to the financial well-being of millions of especially older people in the U.S., so the concern is understandable.

    But just how worried should people be by market fluctuations? And just how big a hit do 401(k)s take when markets fall? The Conversation turned to Western Governors University’s Ronald Premuroso, an expert in this area, for answers.

    What is a 401(k)?

    Simply put, a 401(k) is an employer-sponsored retirement savings plan in which employees contribute a portion of their compensation on a tax-deferred basis.

    The employee is eligible at any age to contribute to a 401(k) plan and has the option to pay into these plans throughout their employment. Many employers match some or all of an employee’s contributions, making the plan even more attractive.

    What about withdrawals?

    Under Internal Revenue Service rules, someone with a 401(k) is required to start making monetary withdrawals from their plan when they reach age 73. Some people start withdrawing at an earlier age.

    Someone with a 401(k) can withdraw funds from the plan early, and at any time. But the money amounts withdrawn will typically be deemed taxable income. In addition, those age 59 and a half and under will likely face a 10% penalty on the withdrawal, unless the employer’s plan allows for hardship distributions, early withdrawals or loans from your plan account.

    The IRS has specific rules for these early withdrawals; if you find yourself in this situation, you should get help from a tax professional.

    All withdrawals starting at age 73, which tax professionals call “RMDs,” are then taxable in retirement – presumably at a lower tax rate than the employee was subject to while employed and working. So these withdrawals starting at age 73 can be a very tax-efficient way of financial planning, including personal income tax planning, for later in life, especially in one’s retirement years.

    Again, it’s important to get help from a tax professional to make sure you meet the IRS’ RMD dollar withdrawal requirements once you start withdrawing.

    In calendar-year 2025, the most that an employee can contribute to a tax-deferred 401(k) plan annually is US$23,500, including the employer’s match. “Super catch-up contributions are allowed for employees over the age of 50 to their employer’s 401(k) plan each year indexed to inflation. In 2025, super catch-up contributions allow individuals age 50 and older to contribute an additional $7,500 beyond the standard limit, bringing their total annual contribution to $31,000. For those turning age 60, 61, 62 or 63 in 2025, the SECURE Act 2.0 allows a higher catch-up contribution limit of $11,250, resulting in a total allowable contribution of $34,750 in 2025.

    When and why did 401(k)s become popular?

    Before 1978, retirement savings options were limited.

    In 1935, Congress created the Social Security Retirement Plan. This was followed by the Employee Retirement Income Security Act of 1974, which created individual retirement accounts, or IRAs, as a way for employees to save tax-deferred money for their retirement.

    401(k) plans became popular with the passage of the Revenue Act of 1978 by Congress.

    Congress saw 401(k) plans at that time as an alternative way to supplement Social Security benefits that all eligible Americans are entitled to receive upon retirement. In 1981, the IRS issued new rules and regulations allowing employees to fund their 401(k)s through payroll deductions. This significantly increased the number of employees contributing to their employers’ 401(k) plans.

    As of September 2024, Americans held $8.9 trillion in 401(k) plans, according to the Investment Company Institute. A study published by the Pension Rights Center toward the end of 2023 using data provided by the Bureau of Labor Statistics concluded that 56% of all workers – including private sector and state and local government workers – participate in a workplace retirement plan. That equates to 145 million full- and part-time workers.

    How are 401(k) plans affected by market rises and falls?

    Contributions to a 401(k) are typically invested in a variety of financial instruments, including in the stock market.

    Most 401(k) plans offer investment options with varying levels of risk, allowing employees to choose based on their personal comfort levels and financial goals.

    Employers typically outsource the management of these 401(k) plans to third parties. Some of the largest companies managing 401(k) funds on behalf of employers and employees include Fidelity Investments, T. Rowe Price and Charles Schwab, to name just a few.

    Because many of these investments are tied to the stock market, 401(k) balances can rise or fall with market fluctuations.

    401(k) plans are a financial lifeline for many American retirees.
    Halfpoint Images/Getty Images

    Should I be worried about the stock market tanking my 401(k)?

    It depends – on when you started making contributions, when you plan to retire and when you expect to start making withdrawals.

    Employees with 401(k) accounts should only be worried about falling stocks if they need the money right now – either for retirement living expenses or for other emergency reasons. If you don’t need to take money out soon, there’s usually no reason to panic. History has shown that markets can rebound quickly; short-term drops often don’t signal long-term trends.

    Over time, the stock market has experienced many periods of falling stock prices: the bursting of the internet bubble of 2000; the period after the events of 9/11; and the U.S. and global banking crisis of 2007-2010, to name but three.

    But overall, over time, stock market returns have averaged 9% from 1994 to 2024, and this includes the periods of falling stock prices mentioned above.

    So even if you are a baby boomer heading for retirement and your 401(k) has taken a hit in recent weeks, don’t panic. Bear in mind the truism that stock markets can always go down as well as up.

    History suggests that in the long run, depending upon your plans and timing for retirement, working together with a trusted financial adviser strategically with regard to your 401(k) retirement savings is a good approach, especially during periods like we have seen in recent weeks in the stock market.

    This article is for informational purposes and does not constitute financial advice. Consult with a qualified financial adviser before making financial decisions.

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

    – ref. 401(k) plans and stock market volatility: What you need to know – https://theconversation.com/401-k-plans-and-stock-market-volatility-what-you-need-to-know-254266

    MIL OSI – Global Reports –

  • MIL-OSI Global: ICE has broad power to detain and arrest noncitizens – but is still bound by constitutional limits

    Source: The Conversation – USA – By Rose Cuison-Villazor, Professor of Law and Chancellor’s Social Justice Scholar, Rutgers University – Newark

    U.S. Immigration and Customs Enforcement officers restrain a detained person on Jan. 27, 2025, in Silver Spring, Md. Associated Press

    News reports of noncitizens unexpectedly being detained by Immigration and Customs Enforcement, or ICE, have dominated headlines in recent weeks. Those being detained include noncitizens who hold lawful permanent residency status.

    One story concerns the March 8, 2025, arrest of Mahmoud Khalil, a lawful permanent resident and recent Columbia University graduate, who was initially detained in New Jersey and transported to Louisiana. He remains there while he challenges his detention and the immigration judge’s April 11 decision that he can be deported

    And on March 25, ICE agents arrested Rumeysa Ozturk, a Turkish national and doctoral student at Tufts University, while she was walking on the streets of Somerville, Massachusetts. She is currently detained in Louisiana.

    ICE agents have also detained and removed, among other people, hundreds of Venezuelan noncitizens to El Salvador since March, resulting in high-profile legal cases that are making their way through the court system. And the U.S. has revoked the visas of at least 300 foreign students this year.

    As a scholar of immigration and citizenship law, I think that it is important to help the public understand the scope and limitations of ICE’s authority.

    At the most basic level, ICE has broad, sweeping powers to question, arrest, detain and process the deportation any noncitizen. But ICE is still bound by certain constitutional and other legal restrictions, including noncitizens’ rights to make their case in court to remain in the U.S.

    In a photo provided by Immigration and Customs Enforcement, ICE agents prepare to make arrests in Atlanta on Feb. 9, 2025.
    Bryan Cox/U.S. Immigration and Customs Enforcement via Getty Images

    ICE’s mission and work

    Created as part of the Department of Homeland Security in 2003, ICE is one of the federal agencies responsible for enforcing immigration laws.

    ICE’s operating budget from Oct. 1, 2024 through Sept. 30, 2025 is approximately US$8 billion, a relatively small portion of Homeland Security’s $107.9 billion total budget for that same time period.

    With more than 20,000 immigration enforcement officers stationed across the country, ICE’s day-to-day work is divided into three main areas – homeland security investigations, enforcement and removal operations, and legal representation for the government in an immigration court.

    The branch focused on homeland security investigations probes transnational crime and terrorism-related activities. ICE’s second area of work focuses on apprehending and removing noncitizens who are in violation of immigration laws. Finally, staff at the Office of the Principal Legal Advisor represent the government in immigration hearings, particularly what is called removal proceedings, or deportation.

    ICE’s power to enforce immigration law is primarily granted through the Immigration and Nationality Act, which Congress passed in 1952 amid the Cold War.

    This act outlines the federal government’s authority to regulate immigration and provides immigration agencies, including those established at a later date, like ICE, broad powers to enforce these restrictions. One key part of the Immigration and Nationality Act allows ICE officers to interrogate any individual they believe to be a noncitizen regarding their right “to be or remain” in the U.S.

    The Immigration and Nationality Act also says that any noncitizen can be deported for engaging in activities that the secretary of state believes “would have potentially serious adverse foreign policy consequences for the United States.”

    Secretary of State Marco Rubio cited this provision when he revoked Ozturk’s visa. Ozturk was co-author on an op-ed in March 2024 calling for Tufts University to recognize genocide against the Palestinian people.

    Rubio used the same provision to claim that Khalil’s involvement in protests at Columbia University had negative U.S. foreign policy consequences.

    Detain and arrest

    ICE officers have broad power to arrest noncitizens in the U.S.

    With a warrant, they may arrest noncitizens who are in the country without legal permission, including foreign students whose visas are revoked. These warrants are administrative warrants signed by an immigration enforcement supervisor – not a judge.

    ICE officers have long been able to carry out these arrests in plain clothes – although using face coverings, as ICE officers who arrested Ozturk and Khalil did, is a new and, I think, startling development.

    Still, ICE’s powers to interrogate, arrest and detain noncitizens are not absolute.

    For one, immigration law requires noncitizens to be notified in writing that they are being processed for a removal proceeding, so they can appear before an immigration judge and have the opportunity to challenge the government’s claim that they should be deported.

    Noncitizens have the right to legal representation – albeit not paid for by the U.S. government – in an immigration court. Ultimately, an immigration judge, and not ICE, determines if a noncitizen should be deported.

    People take part in a protest on March 27, 2025, in Newark, N.J., against the arrest and threatened deportation of Mahmoud Khalil, a lawful permanent resident.
    Kena Betancur/VIEWpress/Corbis via Getty Images

    The Constitutional limits on ICE

    Crucially, ICE is bound by various constitutional provisions that protect individual rights, including the rights of noncitizens who are living in the U.S. without legal authorization.

    Three particular constitutional amendments impose different checks on ICE’s power.

    The First Amendment, for example, protects individuals’ rights to free speech, assembly and religion. Consequently, ICE cannot target individuals – even if they are noncitizens living in the U.S. without legal permission – for simply participating in peaceful protests or writing something for the public. Rubio has said that he revoked Ozturk’s visa not because of her writing, but because she participated in “activities that are counter to our foreign … policy.” He also relied on this provision to support the deportation of Khalil.

    But Ozturk and Khalil’s lawyers contend that their activities were protected speech. Ultimately, a federal district judge has the power to determine whether ICE targeted them for exercising their First Amendment rights.

    The Fourth Amendment safeguards the right of individuals “to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures.” ICE must first obtain a search warrant, signed by a judge, before entering a person’s home or private areas of a workplace.

    The Fourth Amendment’s protection against unreasonable searches and seizures also applies in public spaces. So, law enforcement officers must have reasonable suspicion to stop a person – or have probable cause to not have a warrant when they arrest a person they believe is guilty of a crime or in violation of a law and likely to escape. The Immigration and Nationality Act also requires ICE officers to have an arrest warrant unless they have reason to believe that the noncitizen may flee before they get a warrant.

    It is not clear whether ICE officers presented Khalil and Ozturk with arrest warrants before they were detained outside their home and on the street, respectively.

    The Fifth Amendment guarantees the right of all individuals against self-incrimination. This means that people detained by ICE have the right to remain silent during interrogations.

    It also means that before noncitizens can be deported, they must have the opportunity to go before an immigration judge to challenge the government’s plan to remove them, or may file a case before a federal judge to challenge their detention and deportation.

    ICE’s power is not absolute

    Even with an annual budget of approximately $8 billion, ICE does not have the capacity to pursue all immigration law violations.

    In this context, recent Trump administration initiatives could significantly increase ICE’s reach. For example, an April 2025 memorandum of understanding between the Internal Revenue Service and DHS allows the IRS to share tax information of immigrants living in the U.S. without legal authorization. This could help ICE more easily identify, locate and arrest noncitizens living in the U.S. illegally.

    Despite its considerable power, ICE’s authority is not without checks and balances.

    But as a longtime scholar of immigration law, I believe ICE officers’ recent actions raise serious concerns that it is exceeding the bounds of its legal authority and the constitutional limits that are intended to protect individual rights.

    Rose Cuison-Villazor does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. ICE has broad power to detain and arrest noncitizens – but is still bound by constitutional limits – https://theconversation.com/ice-has-broad-power-to-detain-and-arrest-noncitizens-but-is-still-bound-by-constitutional-limits-253700

    MIL OSI – Global Reports –

  • MIL-OSI: POET Broadens Customer Engagements Following Showcase of Groundbreaking Products

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 14, 2025 (GLOBE NEWSWIRE) — POET Technologies Inc. (“POET” or the “Company“) (TSX Venture: PTK; NASDAQ: POET), a leader in the design and implementation of highly-integrated optical engines and light sources for artificial intelligence networks, today announced significant new customer engagement in response to live demonstrations of the POET Teralight™ line of 1.6T transmit and receive optical engines that broke performance expectations at the 2025 Optical Fiber Communications (OFC) Conference at the Moscone Center in San Francisco, California.

    POET also debuted POET Blazar™, a groundbreaking external light source (ELS) that promises to shrink costs by an order of magnitude with the potential to disrupt the AI connectivity ecosystem at a time when the industry is in need of viable new solutions.

    “Blazar represents a new class of laser and is designed to drive AI connectivity to the next level. It can transform the economics of AI connectivity with an architecture that reduces costs and increases scale and manufacturing efficiency,” said Dr. Suresh Venkatesan, the Company’s Chairman & CEO. “With the massive amount of compute power that AI demands, we believe that Blazar offers an economically superior solution for co-packaged optics (CPO) applications and, more importantly, for chip-to-chip, light-based connectivity in AI clusters.”

    “The period immediately following OFC is a crucial one for POET and we are seeing robust engagement with existing and new customers alike,” commented Raju Kankipati, POET’s Chief Revenue Officer. “We are laser focused on driving revenue this year and preparing for substantial revenue growth in 2026.”

    About POET Technologies Inc.
    POET is a design and development company offering high-speed optical modules, optical engines and light source products to the artificial intelligence systems market and to hyperscale data centers.  POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET’s Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems.  POET’s Optical Interposer platform also solves device integration challenges in 5G networks, machine-to-machine communication, self-contained “Edge” computing applications and sensing applications, such as LIDAR systems for autonomous vehicles.  POET is headquartered in Toronto, Canada, with operations in Allentown, PA, Shenzhen, China, and Singapore.  More information about POET is available on our website at www.poet-technologies.com.

    Forward-Looking Statements
    This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding any potential outcome. Such statements include the Company’s expectations with respect to the success of the Company’s product development efforts, the performance of its products, including its Teralight and Blazar product lines, operations, meeting revenue targets, and the expectation of continued success in the financing efforts, the capability, functionality, performance and cost of the Company’s technology as well as the market acceptance, inclusion and timing of the Company’s technology in current and future products and expectations regarding its successful development of high speed transceiver solutions and its penetration of the Artificial Intelligence hardware markets.

    Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, the completion of its development efforts with its customers, the ability to build working prototypes to the customer’s specifications, and the size, future growth and needs of Artificial Intelligence network suppliers. Actual results could differ materially due to a number of factors, including, without limitation, the failure of its technology to meet performance requirements, the failure to produce optical engines on time and within budget, the failure of Artificial Intelligence networks to continue to grow as expected, the failure of the Company’s products to be included in products aimed at AI and datacom networks, operational risks in the completion of the Company’s projects, the ability of the Company to generate sales for its products, and the ability of its customers to deploy systems that incorporate the Company’s products. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a8eba04a-f0cf-41fc-b1ac-23060775218c

    The MIL Network –

  • MIL-OSI Security: Third Man Guilty of Laundering Funds From Nine-Year Fraud Scheme

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

    HOUSTON – A 62-year-old Houston resident has admitted to laundering proceeds from a large-scale bank fraud scheme, announced U.S. Attorney Nicholas J. Ganjei.

    William Mills admitted that from 2014 to 2023, he conspired with others in a bank fraud scheme involving dozens of loans totaling at least $35 million in fraudulent loan proceeds.  

    As part of the plea, Mills acknowledged opening and maintaining shell companies and bank accounts to collect money from the scheme. He then laundered the fraud proceeds by wiring them to bank accounts other co-conspirators controlled.

    Mills and others accomplished the bank fraud by preparing loan applications that contained false and fraudulent information and documents, including fake equipment sales invoices, income tax returns and financial and bank statements.

    U.S. District Keith Ellison will impose sentencing June 27. At that time, Mills faces up to 10 years in federal prison and a possible $250,000 maximum fine or twice the amount involved in the transaction. 

    He will remain in custody pending that hearing.

    Two other Houston residents charged in the case, Jeremiah Almaguer, 45, Bun Khath, 44, both of Houston, previously pleaded guilty to money laundering in the same scheme and are awaiting sentencing. Another Houston resident charged in the case – Hugo Villanueva, 70, – is considered a fugitive, and a warrant remains outstanding for his arrest. Anyone with information about his whereabouts is asked to contact the FBI at 713-693-5000.

    The Federal Housing Finance Agency-Office of Inspector General (OIG), IRS Criminal Investigation, FBI and Federal Deposit Insurance Corporation-OIG conducted the investigation. Assistant U.S. Attorney Belinda Beek is prosecuting the case.

    MIL Security OSI –

  • MIL-OSI: 180 Degree Capital Corp. Notes Preliminary Net Asset Value per Share of $4.42 as of March 31, 2025, and Portfolio Company Updates From Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    MONTCLAIR, N.J., April 14, 2025 (GLOBE NEWSWIRE) — 180 Degree Capital Corp. (NASDAQ: TURN) (“180 Degree Capital”) provided the following update regarding its portfolio company holdings during the first quarter of 2025.

    “As we mentioned in our press release on March 24, 2025, that noted the filing of our preliminary joint proxy statement/prospectus, Q1 2025 has been positive for a number of portfolio holdings,” said Kevin M. Rendino, Chief Executive Officer of 180 Degree Capital. “Our preliminary net asset value per share (“NAV”) as of March 31, 2025, of $4.42, is the result of strong performance from our public investments that outperformed the Russell Microcap Index by approximately 1900bps offset by expenses related to our proposed all-stock merger with Mount Logan Capital, Inc. (the “Business Combination”). On a relative basis, our gross total return of +4.5% compares favorably to the –14.4% total return for the Russell Microcap Index.1 The difference between our gross total return and our net total return, or change in NAV, of -4.7% was primarily the result of expenses related to our Business Combination and included almost $300,000 in additional professional fees resulting from the public efforts to derail our proposed Business Combination. Our day-to-day operating expenses declined by over 30% from Q1 2024.”

    Mr. Rendino continued, “We are certainly open and interested in the perspectives of our shareholders and are always available to speak with any and every shareholder. That said, we would prefer to allocate our capital to efforts to grow our NAV rather than adding unnecessary expense to this proposed Business Combination. While the direct merger-related expenses incurred in Q1 2025 were material, we continue to believe that this investment will result in significant future value creation for 180 Degree Capital shareholders through their material ownership of the merged company. We believe the capabilities of Mount Logan will greatly advance our ability to provide more comprehensive solutions to public companies, and we remain fully convinced that this is the right path for value creation for 180 Degree Capital’s shareholders.”

    Daniel Wolfe, President of 180 Degree Capital added, “Along with providing this preliminary NAV as of March 31, 2025, we thought it would also be useful to note the performance of our individual portfolio companies in the quarter. Q1 2025 provided a lot of positive momentum, overall, in our efforts on the investment front to build maximum net asset value for 180 Degree Capital shareholders as we head into our proposed Business Combination with Mount Logan Capital. As Kevin noted above, our gross total return during Q1 2025 that was approximately 1900 basis points above the benchmark represents extraordinary gross performance for us. Q2 2025 has started off with significant headwinds resulting from the potential impacts of tariffs and increases in the probability of a recession. While our largest investments have little to no direct exposure to the proposed or implemented tariffs, they are not immune to potential collateral impacts, including a recession and/or material declines in consumer spending. Even with these headwinds, as of the close of the public markets on April 11, 2025, our estimated gross and net total return in 2025 continues to be approximately 1800bps and 1000bps ahead of the Russell Microcap Index.1 As always, we are laser-focused on our resolve to navigate these uncertain times and set a floor for potential future value creation for our collective shareholders.”

    Exited Positions:

    • Intevac, Inc. (IVAC) – On February 13, 2025, IVAC announced it entered into a definitive agreement to be acquired by Seagate Technology Holdings plc. The acquisition closed on March 31, 2025. In addition to the acquisition price of $4.00 per share, IVAC issued aggregate distributions to shareholders of an additional $0.102 per share. The total proceeds of $4.102 per share was a 20.6% premium to the closing price of IVAC on December 31, 2024, and increased NAV by $0.07.
    • Brightcove, Inc. (BCOV) – On February 4, 2025, Bending Spoons completed its acquisition of BCOV for $4.45 per share, or a 2.3% premium to the closing price of BCOV on December 31, 2024, and increased NAV by 0.01.

    Ongoing Positions (Largest to Smallest by Value):

    • Potbelly Corporation (PBPB) – While PBPB reported Q4 2024 results that beat guidance and analyst estimates, Q1 2025 guidance included negative comps that were weaker than analyst estimates due to inclement weather in January and February in key market areas in the Midwest, DC and Texas. Weeks in Q1 2025 with no weather impact showed year-over-year growth in comps, and without inclement weather, PBPB believed comps for Q1 would have been positive. March comps were communicated to be back on track with positive comps. Even with the weather-related headwinds in Q1 2025, PBPB’s full-year 2025 guidance included comps to increase between 1.5-2.5% and EBITDA was in-line with estimates. PBPB expects to open at least 38 stores this year, with about 85% of that number being franchised shops. PBPB’s stock price increased from $9.42 on December 31, 2024, to $9.51 on March 31, 2025, or +1.0%, and increased NAV by $0.01.
    • Synchronoss Technologies, Inc. (SNCR) – SNCR reported results for Q4 2024 that exceeded all analyst estimates. Guidance for 2025 included strong EBITDA and free cash flow generation enabled by increasing gross margins and continued subscriber growth amongst its largest customers. SNCR also reported progress towards the receipt of an expected $28 million plus interest tax refund from the IRS. SNCR’s stock price increased from $9.60 on December 31, 2024, to $10.89 on March 31, 2025, or +13.4%, and increased NAV by $0.12.2
    • Ascent Industries Co. (ACNT) – ACNT’s Q4 2024 results showed continued improvement in operating efficiency led to dramatic improvements in GM, EBITDA and profitability. The unlock of working capital and inventory led to an increase in cash on hand from $8m to $16m. ACNT also renegotiated a major chemical contract that, when combined with other operational improvements is currently expected to more than offset continued soft demand in the chemicals market—the recovery of which ACNT currently expects to H2 2025 or 2026. On March 12, 2025, ACNT announced the sale of its Bristol Metals subsidiary for $45 million as part of its continued effort to become a pure-play chemicals business. ACNT’s stock price increased from $11.18 on December 31, 2024, to $12.66 on March 31, 2025, or +13.2%, and increased NAV by $0.06.
    • comScore, Inc. (SCOR) – SCOR reported Q4 2024 results that included a return to top-line growth and meaningful EBITDA growth. Growth was strongest in its cross-platform and activation businesses at approximately 20%+, and such growth rate is currently expected to continue and potentially expand in 2025. In January 2025, SCOR announced a revised data licensing agreement with Charter that saves a minimum of $35 million over the remaining life of the data contract. Additionally, SCOR secured additional debt capital from Blue Torch to enable investment in growing businesses. SCOR’s stock price increased from $5.84 on December 31, 2024, to $6.87 on March 31, 2025, or +17.6%, and increased NAV by $0.04.
    • RF Industries, Ltd. (RFIL) – RFIL reported strong performance in its fiscal first quarter that ended on January 31, 2025, that exceeded analyst estimates and included strong year-over-year and quarter-over-quarter growth. RFIL’s management noted improving visibility across its customer base along with demand for its higher-gross-margin products. RFIL’s management noted that improvements in its operations to date and further optimization of its manufacturing over the ensuing quarters are expected to enable RFIL to reach its goal of EBITDA margins of at least 10%. RFIL’s stock price increased from $3.91 on December 31, 2024, to $4.69 on March 31, 2025, or +19.9%, and increased NAV by $0.04.
    • Arena Group Holdings, Inc. (AREN) – AREN currently expects to report its Q4 2024 and full year 2024 results on or before April 15, 2025. During Q1 2025, AREN announced the appointment of Paul Edmondson as Chief Executive Officer. AREN’s stock price increased from $1.34 on December 31, 2024, to $1.73 on March 31, 2025, or +29.1%, and increased NAV by $0.04.
    • Lantronix, Inc. (LTRX) – While LTRX’s FYQ2 25 (CYQ4 24) report beat estimates, FYQ3 (CYQ1 25) guidance trailed consensus estimates largely because estimates had revenue from Gridspertise continuing at similar levels to first two fiscal quarters of 2025 and instead no revenue is expected in FYQ3 and Q4 2025. This was the second quarter of beat on prior quarter, but guide down on subsequent quarter, which impacted credibility of management with investors. LTRX’s core out-of-band business is doing well with high margins. Overall margins are expected to improve as low-margin Gridspertise business rolls off. Even with the below consensus guide, LTRX expects to remain adj. EPS positive and cash flow positive. LTRX’s stock price decreased from $4.12 on December 31, 2024, to $2.49 on March 31, 2025, or -39.6%, and decreased NAV by $0.11.
    • Commercial Vehicle Group, Inc. (CVGI) – While CVGI reported results in Q4 2024 and EBTIDA guidance for 2025 that exceeded analyst estimates, revenue guidance for 2025 was materially below analyst estimates due to continued expected softness in construction and agricultural equipment markets. While CVGI expects to be able pass-through tariff costs to its customers, it is possible that such uncertainty may delay or reduce customer demand. CVGI has been able to obtain covenant relief from its lenders and is proactively taking steps to refinance its outstanding term loan and ABL facilities well ahead of the term loan maturity in 2027 and to establish a new set of covenants that better align with the current state of its business. The substantial decline in CVGI’s stock price during 2024 and continuing into 2025 will likely lead to CVGI being removed from the Russell Indices. CVGI’s stock price decreased from $2.48 on December 31, 2024, to $1.15 on March 31, 2025, or -53.6%, and decreased NAV by $0.05.

    New Positions:

    • 180 Degree Capital began building new positions in three publicly traded companies during Q1 2025, that it looks forward to discussing in future communications with investors.

    Mr. Wolfe concluded, “We have used, and plan to continue to actively use, the ongoing volatility in the public markets to identify and take advantage of investment opportunities that we believe can lead to appreciation in 180 Degree Capital’s net asset value ahead of our proposed Business Combination. The timing of the sales of BCOV and IVAC could not have been better as they have provided us with substantial capital to take advantage of these opportunities as they present themselves. Meanwhile, this cash provides a cushion to the impact of the volatility on our current holdings and interest income. With regard to merger-related expenses, we currently believe that a substantial portion of these expenses were front-end loaded, and as such, future merger-related expenses will be materially lower than those incurred to date. We are actively managing these and our day-to-day expenses to minimize the impact to NAV as much as possible. We look forward to further discussions with shareholders including after we update our joint preliminary proxy statement/prospectus to include the U.S. GAAP financials for Mount Logan and to our continued progress toward the planned completion of our proposed Business Combination in the ensuing months.”

    About 180 Degree Capital Corp.

    180 Degree Capital Corp. is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. Our goal is that the result of our constructive activism leads to a reversal in direction for the share price of these investee companies, i.e., a 180-degree turn. Detailed information about 180 Degree Capital and its holdings can be found on its website at www.180degreecapital.com.

    Press Contact:
    Daniel B. Wolfe
    Robert E. Bigelow
    180 Degree Capital Corp.
    973-746-4500
    ir@180degreecapital.com

    Additional Information and Where to Find It

    In connection with the agreement and plan of merger among 180 Degree Capital Corp. (“180 Degree Capital”), Mount Logan Capital Inc. (“Mount Logan”), Yukon New Parent, Inc. (“New Mount Logan”), Polar Merger Sub, Inc., and Moose Merger Sub, LLC, dated January 16, 2025, as it may from time to time be amended, modified or supplemented (the “Merger Agreement”) that details the proposed combination of the businesses of 180 Degree Capital and Mount Logan and any other transactions contemplated by and pursuant to the terms of the Merger Agreement (the “Business Combination”), 180 Degree Capital intends to file with the SEC and mail to its shareholders a proxy statement on Schedule 14A (the “Proxy Statement”), containing a form of WHITE proxy card. In addition, the surviving Delaware corporation, New Mount Logan plans to file with the SEC a registration statement on Form S-4 (the “Registration Statement”) that will register the exchange of New Mount Logan shares in the Business Combination and include the Proxy Statement and a prospectus of New Mount Logan (the “Prospectus”). The Proxy Statement and the Registration Statement (including the Prospectus) will each contain important information about 180 Degree Capital, Mount Logan, New Mount Logan, the Business Combination and related matters. SHAREHOLDERS OF 180 DEGREE CAPITAL AND MOUNT LOGAN ARE URGED TO READ THE PROXY STATEMENT AND PROSPECTUS CONTAINED IN THE REGISTRATION STATEMENT AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE APPLICABLE SECURITIES REGULATORY AUTHORITIES AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT 180 DEGREE CAPITAL, MOUNT LOGAN, NEW MOUNT LOGAN, THE BUSINESS COMBINATION AND RELATED MATTERS. Investors and security holders may obtain copies of these documents and other documents filed with the applicable securities regulatory authorities free of charge through the website maintained by the SEC at https://www.sec.gov and the website maintained by the Canadian securities regulators at www.sedarplus.ca. Copies of the documents filed by 180 Degree Capital are also available free of charge by accessing 180 Degree Capital’s investor relations website at https://ir.180degreecapital.com.

    Certain Information Concerning the Participants

    180 Degree Capital, its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in connection with the Business Combination. Information about 180 Degree Capital’s executive officers and directors is available in 180 Degree Capital’s Annual Report filed on Form N-CSR for the year ended December 31, 2024, which was filed with the SEC on February 13, 2025, and in its proxy statement for the 2024 Annual Meeting of Shareholders (“2024 Annual Meeting”), which was filed with the SEC on March 1, 2024. To the extent holdings by the directors and executive officers of 180 Degree Capital securities reported in the proxy statement for the 2024 Annual Meeting have changed, such changes have been or will be reflected on Statements of Change in Ownership on Forms 3, 4 or 5 filed with the SEC. These documents are or will be available free of charge at the SEC’s website at https://www.sec.gov. Additional information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the 180 Degree Capital shareholders in connection with the Business Combination will be contained in the Proxy Statement when such document becomes available.

    Mount Logan, its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Mount Logan in favor of the approval of the Business Combination. Information about Mount Logan’s executive officers and directors is available in Mount Logan’s annual information form dated March 13, 2025, available on its website at https://mountlogancapital.ca/investor-relations and on SEDAR+ at https://sedarplus.ca. To the extent holdings by the directors and executive officers of Mount Logan securities reported in Mount Logan’s annual information form have changed, such changes have been or will be reflected on insider reports filed on SEDI at https://www.sedi.ca/sedi/. Additional information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the Mount Logan shareholders in connection with the Business Combination will be contained in the Prospectus included in the Registration Statement when such document becomes available.

    Non-Solicitation

    This letter and the materials accompanying it are not intended to be, and shall not constitute, an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

    Forward-Looking Statements

    This press release, and oral statements made from time to time by representatives of 180 Degree Capital and Mount Logan, may contain statements of a forward-looking nature relating to future events within the meaning of federal securities laws. Forward-looking statements may be identified by words such as “anticipates,” “believes,” “could,” “continue,” “estimate,” “expects,” “intends,” “will,” “should,” “may,” “plan,” “predict,” “project,” “would,” “forecasts,” “seeks,” “future,” “proposes,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions). Forward-looking statements are not statements of historical fact and reflect Mount Logan’s and 180 Degree Capital’s current views about future events. Such forward-looking statements include, without limitation, statements about the benefits of the Business Combination involving Mount Logan and 180 Degree Capital, including future financial and operating results, Mount Logan’s and 180 Degree Capital’s plans, objectives, expectations and intentions, the expected timing and likelihood of completion of the Business Combination, and other statements that are not historical facts, including but not limited to future results of operations, projected cash flow and liquidity, business strategy, payment of dividends to shareholders of New Mount Logan, and other plans and objectives for future operations. No assurances can be given that the forward-looking statements contained in this press release will occur as projected, and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, without limitation, the ability to obtain the requisite Mount Logan and 180 Degree Capital shareholder approvals; the risk that Mount Logan or 180 Degree Capital may be unable to obtain governmental and regulatory approvals required for the Business Combination (and the risk that such approvals may result in the imposition of conditions that could adversely affect New Mount Logan or the expected benefits of the Business Combination); the risk that an event, change or other circumstance could give rise to the termination of the Business Combination; the risk that a condition to closing of the Business Combination may not be satisfied; the risk of delays in completing the Business Combination; the risk that the businesses will not be integrated successfully; the risk that synergies from the Business Combination may not be fully realized or may take longer to realize than expected; the risk that any announcement relating to the Business Combination could have adverse effects on the market price of Mount Logan’s common shares or 180 Degree Capital’s common shares; unexpected costs resulting from the Business Combination; the possibility that competing offers or acquisition proposals will be made; the risk of litigation related to the Business Combination; the risk that the credit ratings of New Mount Logan or its subsidiaries may be different from what the companies expect; the diversion of management time from ongoing business operations and opportunities as a result of the Business Combination; the risk of adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the Business Combination; competition, government regulation or other actions; the ability of management to execute its plans to meet its goals; risks associated with the evolving legal, regulatory and tax regimes; changes in economic, financial, political and regulatory conditions; natural and man-made disasters; civil unrest, pandemics, and conditions that may result from legislative, regulatory, trade and policy changes; and other risks inherent in Mount Logan’s and 180 Degree Capital’s businesses. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Readers should carefully review the statements set forth in the reports, which 180 Degree Capital has filed or will file from time to time with the SEC and Mount Logan has filed or will file from time to time on SEDAR+.

    Neither Mount Logan nor 180 Degree Capital undertakes any obligation, and expressly disclaims any obligation, to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Any discussion of past performance is not an indication of future results. Investing in financial markets involves a substantial degree of risk. Investors must be able to withstand a total loss of their investment. The information herein is believed to be reliable and has been obtained from sources believed to be reliable, but no representation or warranty is made, expressed or implied, with respect to the fairness, correctness, accuracy, reasonableness or completeness of the information and opinions. The references and link to the website www.180degreecapital.com and mountlogancapital.ca have been provided as a convenience, and the information contained on such websites are not incorporated by reference into this press release. Neither 180 Degree Capital nor Mount Logan is responsible for the contents of third-party websites.

    1. Past performance is not an indication or guarantee of future performance. Gross unrealized and realized total returns of 180 Degree Capital’s cash and securities of publicly traded companies are compounded on a quarterly basis, and intra-quarter cash flows from investments in or proceeds received from privately held investments are treated as inflows or outflows of cash available to invest or withdrawn, respectively, for the purposes of this calculation. 180 Degree Capital is an internally managed registered closed-end fund that has a portion of its assets in legacy privately held companies that are fair valued on a quarterly basis by the Valuation Committee of its Board of Directors, and 180 Degree Capital does not have an external manager that is paid fees based on assets and/or returns. Please see 180 Degree Capital’s filings with the SEC, including its 2024 Annual Report on Form N-CSR for information on its expenses and expense ratios.

    2. Inclusive of restricted stock units and options for the purchase of restricted stock issued to Kevin Rendino as compensation for service on the board of directors of SNCR. All economic benefit from these securities has been assigned to 180 Degree Capital.

    The MIL Network –

  • MIL-OSI USA: Attorney General Alan Wilson announces SC Human Trafficking Task Force releases new national hotline posters to commemorate 10th anniversary of state lawRead More

    Source: US State of South Carolina

    (COLUMBIA, S.C.) – South Carolina Attorney General Alan Wilson, Chair of the South Carolina Human Trafficking Task Force, announced the release of two new legislatively mandated posters for use across the state. The first version of the poster was released 10 years ago when the General Assembly passed a law requiring hotline posters in certain business establishments.

    South Carolina law (Code 16-3-2100) requires the national human trafficking hotline poster, including the specific language included, to be hung in the following locations:

    • Establishments that have been declared a nuisance for prostitution pursuant to law;
    • An adult business, including a nightclub, bar, restaurant, or another similar establishment in which a person appears in a state of sexually explicit nudity or semi-nudity, as defined by law;
    • Businesses and establishments that offer massage or bodywork services by any person who is not licensed under appropriate laws;
    • Emergency rooms within any hospital;
    • Urgent care centers;
    • Any hotel, motel, room, or accommodation furnished to transients for which fees are charged in this state;
    • All agricultural labor contractors and agricultural labor transporters as defined by law;
    • All airports, train stations, bus stations, rest areas, and truck stops.

    The information must be posted in each public restroom for the business or establishment, and in a prominent location conspicuous to the public at the entrance of the establishment. The Department of Revenue, the State Law Enforcement Division, and the Department of Transportation, depending on regulatory control or authority, are authorized to issue a written warning and assess a fine of not more than fifty dollars. Each day that the poster is not hung in the establishment constitutes a separate and distinct violation, and the establishment may be fined appropriately.

    The new designs were developed in conjunction with the State Task Force Survivor Advisory Subcommittee. The posters can be downloaded on the State Task Force website at humantrafficking.scag.gov. The 11 Regional Human Trafficking Task Forces across the state will also be provided with 1,000 copies to help distribute posters.

    To report an incident or seek victim services, call the National Human Trafficking Hotline at 888-373-7888. The Hotline is confidential and open 24 hours a day, 7 days a week.

    MIL OSI USA News –

  • MIL-OSI: Signing Day Sports Signs Non-Binding Letter of Intent to Acquire All Equity of blockchAIn Digital Infrastructure, a Profitable Data Hosting Company

    Source: GlobeNewswire (MIL-OSI)

    blockchAIn Digital Infrastructure Generated Unaudited Revenue of $26.8 million and Net Income of $4.0 million in 2024

    blockchAIn Digital Infrastructure Focused on Crypto Mining, Artificial Intelligence (“AI”), and High-Performance Computing (“HPC”) Data Hosting Markets

    blockchAIn Digital Infrastructure Expected to Expand into U.S.-based Crypto Mining

    SCOTTSDALE, Ariz., April 14, 2025 (GLOBE NEWSWIRE) — Signing Day Sports, Inc. (“Signing Day Sports” or the “Company”) (NYSE American: SGN), the developer of the Signing Day Sports app and platform to aid high school athletes in the recruitment process, today announced the signing of a non-binding letter of intent (“LOI”) to acquire 100% of the issued and outstanding shares of blockchAIn Digital Infrastructure (collectively together with certain of its affiliates and subsidiaries, “blockchAIn Digital Infrastructure” or “blockchAIn DI”) which will operate a crypto mining, AI and HPC data hosting company with an expected 200MW of properties in South Carolina and Texas. The transaction will be structured as an all-equity exchange in which Signing Day Sports will acquire all of the equity securities of blockchAIn Digital Infrastructure through the issuance of its equity securities to the equity securityholders of blockchAIn DI. Signing Day Sports will not be required to make any cash payment to blockchAIn Digital Infrastructure or the securityholders of blockchAIn DI in connection with the transaction.

    In 2024, blockchAIn Digital Infrastructure generated unaudited revenue of $26.8 million and net income of $4.0 million.

    The market for digital infrastructure—including crypto mining, HPC, and AI-related computing—is evolving rapidly as demand for energy-efficient processing power continues to grow. Amid increasing sustainability standards and renewed emphasis on domestic infrastructure, blockchAIn Digital Infrastructure is positioned to pursue opportunities across a wide range of compute-intensive applications.

    blockchAIn Digital Infrastructure’s current operations include a 40 MW crypto mining hosting facility in South Carolina with expansion capability to 50 MW for third-party crypto miners in South Carolina, subject to utility approval. blockchAIn Digital Infrastructure anticipates transitioning to internally owning and mining crypto currency at their South Carolina facility in late 2025 or early 2026, to facilitate revenue and earnings growth. blockchAIn Digital Infrastructure is also in the process of commissioning a new 150MW crypto mining, AI and HPC data hosting facility in Texas with favorable economics with 34.5kV of interconnectivity to the grid for activation in late 2026. The Texas facility can be modularly built providing flexibility for crypto mining and/or AI and HPC data hosting activities. It is currently anticipated that the first 100MW will be initially focused on internally owned crypto mining operations and the remaining 50MW of capacity used for AI and HPC data hosting. This capital efficient and flexible modular business model will provide blockchAIn DI with optionality to pursue different revenue mixes as the crypto mining, AI and HPC markets continue to develop.

    Signing Day Sports views the proposed transaction as a compelling opportunity to enhance its platform by combining with a technology-driven business with strong fundamentals and scalable infrastructure.

    The transaction between blockchAIn Digital Infrastructure and Signing Day Sports is intended to result in the combined company being traded on the NYSE American. blockchAIn Digital Infrastructure will continue to operate under blockchAIn DI’s management team, and it is intended that blockchAIn Digital Infrastructure will merge with and into a newly-formed subsidiary of Signing Day Sports with blockchAIn Digital Infrastructure, surviving the merger and become a wholly-owned subsidiary of Signing Day Sports.

    “This transaction gives us a highly strategic entry point into the digital infrastructure space—one that is already revenue-generating, cost-efficient, and well-positioned to scale,” said Danny Nelson, Chief Executive Officer of Signing Day Sports. “blockchAIn Digital Infrastructure provides a platform anchored by crypto mining operations, HPC capacity, and a clear roadmap toward AI workload enablement. We are excited about the potential to participate in this growing market through a combined company with proven assets, operational depth, and a strong financial foundation. Our teams will work expeditiously to move the transaction forward and we anticipate completing the due diligence and definitive docs within the next 45 days.”

    The LOI is non-binding, and the transaction’s completion remains subject to customary due diligence, execution of definitive agreements, regulatory and stock exchange approvals, and other standard closing conditions. Signing Day Sports intends to provide further updates as discussions progress.

    Terms of the Transaction

    The business combination is expected to be effectuated through a structure, whereby blockchAIn Digital Infrastructure will merge with and into a newly formed subsidiary of Signing Day Sports with blockchAIn Digital Infrastructure surviving the merger and becoming a wholly-owned subsidiary of Signing Day Sports. The parties may also agree upon a to-be-determined alternative structure based on the appropriate legal, tax and accounting structuring advice of their respective representatives. Under the LOI, the consideration to be paid at closing to blockchAIn Digital Infrastructure or their securityholders will be comprised of shares of Signing Day Sports common stock with a value of approximately $215.0 million, subject to an exchange ratio and other certain adjustments, at an implied value per share for Pubco of $10.04 (including adjustment as applicable for exchange listing purposes). Upon the closing of the business combination, the stockholders of Signing Day Sports are anticipated to collectively own approximately 8.5% of the outstanding common stock of the combined company, and blockchAIn Digital Infrastructure’s equity securityholders are anticipated to collectively own approximately 91.5% of the outstanding common stock of the combined company. The board of directors of Signing Day Sports post-transaction will be comprised of no less than five (5) and no greater than seven (7) directors. At least one director will be designated by the existing directors of Signing Day Sports, and blockchAIn DI will designate the remaining directors. blockchAIn DI will also designate the new Chief Executive Officer and Chairman of the Company.

    It is anticipated that the definitive agreements will contain customary representations, warranties and covenants made by Signing Day Sports and blockchAIn Digital Infrastructure, including covenants relating to both parties using their commercially reasonably efforts to cause the transactions contemplated by the agreement to be satisfied, covenants regarding obtaining the requisite approval of Signing Day Sports’ stockholders, covenants regarding indemnification of directors and officers, and covenants regarding Signing Day Sports’ and blockchAIn Digital Infrastructure’s conduct of their respective businesses between the date of signing of definitive agreements and the closing, and other customary conditions to closing. It is anticipated that definitive agreements will also contain certain termination rights for both Signing Day Sports and blockchAIn Digital Infrastructure, and, in connection with the termination of any such definitive agreements under certain circumstances, Signing Day Sports and blockchAIn Digital Infrastructure may be required to pay the other party a termination fee.

    It is anticipated that any definitive agreements will need to be approved by both of the Board of Directors of Signing Day Sports and blockchAIn Digital Infrastructure respectively. Signing Day Sports anticipates it will receive a fairness opinion in connection with the business combination in the event definitive agreements are executed. Entry into definitive agreement is subject to (i) legal, tax and accounting structuring advice, (ii) the satisfactory completion of due diligence investigation by the parties on all aspects of business, operations, financial condition and other assets and liabilities appropriate for a transaction of this nature, and (iii) the satisfaction of the conditions described in the LOI. 

    Although generally non-binding, the LOI contains certain binding exclusivity and confidentiality terms and other binding terms and provisions. The LOI provides that none of the parties will consider any other similar transaction for a period that will continue until the earlier of 45 days from the date of the LOI (April 11, 2025) or the execution of definitive agreements, subject to certain extension provisions. Following the expiration of such exclusivity period, the LOI may be terminated by any party for any reason by written notice to the other parties.

    Advisors

    Advisors to the transaction include Maxim Group LLC, which is serving as exclusive financial advisor to blockchAIn Digital Infrastructure. Loeb & Loeb LLP is serving as counsel to blockchAIn Digital Infrastructure. Bevilacqua PLLC is serving as counsel to Signing Day Sports.

    Signing Day Sports

    Signing Day Sports’ mission is to help student-athletes achieve their goal of playing college sports. Signing Day Sports’ app allows student-athletes to build their Signing Day Sports’ recruitment profile, which includes information college coaches need to evaluate and verify them through video technology. For more information on Signing Day Sports, go to https://bit.ly/SigningDaySports.

    Forward-Looking Statements

    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, including without limitation, the parties’ ability to enter into definitive agreements and complete the transaction, blockchAIn Digital Infrastructure’s ability to integrate its business into that of a publicly listed company post-merger, the ability of the parties to obtain all necessary consents and approvals in connection with the transaction, obtain NYSE American clearance of a listing application in connection with the transaction, the parties’ ability to obtain their respective equity securityholders’ approval, obtain sufficient funding to maintain operations and develop additional services and offerings, market acceptance of blockchAIn Digital Infrastructure’s current products and services and planned offerings, competition from existing or new offerings that may emerge, impacts from strategic changes to the parties’ business on net sales, revenues, income from continuing operations, or other results of operations, the parties’ ability to attract new users and customers, the parties’ ability to retain or obtain intellectual property rights, the parties’ ability to adequately support future growth, the parties’ ability to comply with user data privacy laws and other current or anticipated legal requirements, and the parties’ ability to attract and retain key personnel to manage their business effectively. These risks, uncertainties and other factors are expected to be further described in a proxy statement/registration statement to be filed with the Securities and Exchange Commission relating to this transaction. See also the section titled “Risk Factors” in the Company’s periodic reports which are filed with the Securities and Exchange Commission. These risks, uncertainties and other factors are, in some cases, beyond the parties’ control and could materially affect results. If one or more of these risks, uncertainties or other factors become applicable, or if these underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. All subsequent written and oral forward-looking statements concerning the Company or other matters and attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

    Investor Contacts:
    Crescendo Communications, LLC
    212-671-1020
    SGN@crescendo-ir.com

    The MIL Network –

  • MIL-OSI: Enlight Raises a Total of $1.5 Billion in Project Finance Following its Third U.S. Financial Close Within Four Months

    Source: GlobeNewswire (MIL-OSI)

    The financial close for Quail Ranch includes $243 million of construction loans; COD is expected towards the end of 2025

    Enlight’s three U.S. projects now under construction have a combined capacity of 1.4 FGW and are projected to generate total annual revenues of $135-140 million

    TEL AVIV, Israel, April 14, 2025 (GLOBE NEWSWIRE) — Enlight Renewable Energy Ltd. (“Enlight”, “the Company”, NASDAQ: ENLT, TASE: ENLT.TA), a leading global renewable energy platform, announces the financial close for project Quail Ranch (“Quail Ranch” or “the Project”), located near Albuquerque, New Mexico, USA. The Company, through its U.S. subsidiary Clenera Holdings LLC, has secured $243 million in construction financing commitments for the Project.

    Combining 128 MW solar generation with 400 MWh of battery storage capacity, Quail Ranch is scheduled for completion towards the end of 2025. Offtake for both generation and storage volumes is secured by a 20-year busbar PPA with the Public Service Company of New Mexico (“PNM”).

    The Project is an expansion of Atrisco, which commenced commercial operation in 2024. The shared infrastructure between the two sites accelerated Quail Ranch’s development and will reduce construction and operating costs. Both projects are situated on a desert plateau at an elevation of 1,800 meters, offering optimal solar generation conditions.

    Quail Ranch’s financial close joins those of Roadrunner and Country Acres, two other projects now under construction in the U.S., which have achieved a total of $1.5 billion in financing over the past four months with the same consortium of lenders. The three projects have a combined capacity of 1.4 FGW and are expected to generate annual revenues of $135-140 million and EBITDA of $100-110 million when commencing operations in 2025-2026.

    The financial close was led by a consortium of four global banks, including BNP Paribas Securities Corp, Crédit Agricole, Natixis Corporate & Investment Banking, and Norddeutsche Landesbank Girozentrale (Nord/LB). Upon the Project’s COD, the construction loan is expected to convert into a $120 million term loan. The Project is expected to be eligible for the Energy Community Tax Credit Bonus, and the Company anticipates finalizing a tax equity transaction during 2025.

    Gilad Yavetz, CEO of Enlight, said, “We are proud to have achieved the exceptional milestone of three significant financial closings within such a short timeframe, completing the funding for the second wave of Enlight’s U.S. projects. When operational, they will join Atrisco and Apex to generate combined annual revenues of approximately $200 million in the U.S. Quail Ranch completed its financial close after the administration announced its new tariff policy, demonstrating the project’s strength and the Company’s preparedness for this scenario.

    “Additionally, Enlight is focused on advancing the development of two additional megaprojects in the western U.S. with a combined capacity of 2.6 FGW, and which are located in areas with some of the highest solar irradiation in the country. The new projects are part of the Company’s third wave in the U.S., and construction is expected to begin in the coming months.”

    “I am very proud to partner with world-leading banks and complete a third major funding package this year,” said Adam Pishl, CEO and President of Clenera. “We continue to demonstrate our ability to bring high-quality projects banks remain excited about, despite market turbulence. Quail Ranch builds on our incredible success in New Mexico and will help meet the high demand for power to fuel American businesses and homes.”

    About Enlight Renewable Energy

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

    Investor Contact

    Yonah Weisz
    Director IR
    investors@enlightenergy.co.il

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

    Cautionary Note Regarding Forward-Looking Statements

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

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

    The MIL Network –

  • MIL-OSI Asia-Pac: AFRICA INDIA KEY MARITIME ENGAGEMENT (AIKEYME) 2025 INAUGURATION

    Source: Government of India

    Posted On: 13 APR 2025 9:40PM by PIB Delhi

    The Africa India Key Maritime Engagement (AIKEYME) 2025 was inaugurated on 13 Apr 25 in Dar-es-Salaam, Tanzania, marking a significant step in strengthening maritime cooperation between India and African nations. The ceremony was graced by the presence of Dr. Stergomena Lawrence Tax, Minister of Defence and National Service of Tanzania, Shri Sanjay Seth, India’s Raksha Rajya Mantri (RRM) and Chief of the Naval Staff Admiral Dinesh K Tripathi. The event also saw the attendance of distinguished military leaders, including the Chief of Defence Force of the Tanzania Peoples’ Defence Force (TPDF).

    Tanzania’s Defence Minister, Dr. Stergomena Lawrence Tax, whilst inaugurating the exercise, stressed the “significance of going along” to tackle maritime threats like piracy and trafficking. She called for “collaborative effort towards Maritime security by like-minded partners” and highlighted the aim of building an “enduring framework of maritime security, including innovation and information sharing.” She also reaffirmed Tanzania’s commitment to hosting future AIKEYME editions and their broader belief in “collaborative regional cooperation” beyond military affairs.

    In his address, RRM Shri Sanjay Seth emphasised the spirit of collaboration by quoting the African proverb, “If you want to go fast, go alone, If you want to go far, go together.” He expressed hope for a “life-long partnership”, invoked India’s maritime vision Mutual and Holistic Advancement for Security and Growth Across Regions (MAHASAGAR) and thanked Tanzania for co-hosting AIKEYME 25 alongside India.

    For AIKEYME, the Indian Navy is represented by INS Chennai and INS Kesari. Indian Ocean Ship SAGAR was also present for the inaugural ceremony. The chief guests interacted with the multinational crew from Friendly Foreign Countries(FFCs) from IOS Sagar.

    AIKEYME 25, meaning ‘Unity’ in Sanskrit, will be conducted over six days with participation from Comoros, Djibouti, Kenya, Madagascar, Mauritius, Mozambique, Seychelles and South Africa, alongside India and Tanzania. The exercise will include a harbour phase with joint training and exercises focused on piracy and information sharing, followed by a sea phase to enhance maritime security cooperation. This initiative aims to develop collaborative solutions to regional maritime challenges, enhance interoperability, and strengthen the friendly relations between India and African nations.

    _____________________________________________________________

    VM/SKS                                                                                                  87/25

     

    (Release ID: 2121521) Visitor Counter : 65

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: Take eggs-tra care on the water

    Source: New South Wales – News

    Back-to-back Easter and Anzac Day long weekends will see officers from South Australia Police (SAPOL) continue working with partner agencies as part of ongoing water safety operations.

    An increase in people enjoying a variety of waterways is egg-spected over the period, with police and Marine Safety Officers ramping up patrols across inland and coastal locations coinciding with school holidays.

    “We encourage the public to make the most of the warm weather and enjoy our waterways, but they must do so safely,” Senior Sergeant Darian Leske from SAPOL’s Water Operations Unit said.

    “Police will be working with our partner agencies to ensure everyone is acting responsibly while on the water, by detecting breaches of the Harbours and Navigation Act.

    “We will be conducting safety equipment checks and random alcohol and drug testing of boat operators, observers and skiers, because as on land, a blood alcohol limit of 0.05 applies.”

    From 27 December 2024 to 3 February 2025, Operation Riversafe saw 205 vessel checks by police alone, 204 alco tests, 115 drug tests, 28 cautions, eight expiations and six reports (four positive drugs, two prescribed concentration of alcohol). Marine Safety Officers also support this operation.

    In addition to having a road safety operation in place, SAPOL is also mindful avoidable water tragedies can occur when risks are taken.

    “While South Australians are being asked to ‘keep it sweet on the road’ this Easter, let’s also keep it sweet on the water,” Senior Sergeant Leske urged.

    “Alcohol or drugs and water don’t mix. An incident at Mannum over the Australia Day long weekend is a prime example of this.”

    Failing to carry appropriate safety equipment, misuse of or not carrying lifejackets, outdated flares, unregistered vessels and exceeding speed limits were the top five non-compliance issues among water users last Easter period.

    “It only takes a moment to put a lifejacket on, but not wearing one on the water when trouble strikes can cost your life in an instant,” Gordon Panton, Manager Marine Safety and Compliance at the Department for Infrastructure and Transport, said.

    “More than one third of the vessels we checked last Easter on coastal waters and at boat ramps were non-compliant, with misuse of or not carrying lifejackets among the most common issues.

    “Boaties and holidaymakers are reminded to check their lifejackets are to standard, fit well, and are in good working condition, that they are operating safely and keeping to speed limits around other water users, and they have the right safety equipment on board.”

    Since 1 January 2025, older standard lifejackets have no longer been acceptable to use, and jackets must now meet the AS 4758 standard.

    Fisheries will also have an on-water and on-land presence across the entire state over the Easter and Anzac Day long weekends, and officers will be especially checking compliance with the no take zones for snapper over the period.

    “We ask that fishers adhere to size and bag limits and fishing gear regulations and are encouraged to access the Rec Fishing App or the PIRSA website for further information,” Gary Darter, acting General Manager Operations Support at PIRSA, said.

    “To combat the spread of the Abalone virus AVG, decontamination protocols apply to fishing devices and boats, especially those operating from the Murray Mouth to the Victorian Border.

    “Remember, Check, Clean and Dry.  Full details are also on the PIRSA website.

    “If you see anything unusual, please report any concerns to Fishwatch on 1800 065 522.”

    Plus, don’t forget:

    * Let someone know where you’re going and when you’ll be back.

    * Slow your vessel to 4 knots when near other boats, ramps, jetties, swimmers, surfaces and the shore.

    * Keep your keys in a safe location. Do not hide them in your car, caravan or boat.

    * Remove fishing rods, tackle boxes and eskies from boats and trailers when not in use.

    * Securely attach trailers and boats to a vehicle or a solid fixture when not in use.

    * Be aware of water safety issues at the beach or at the river including rips and currents, maritime safety and the dangers of marine life.

    * Never leave valuable items unattended or under a beach towel. Use a watertight container or leave your items secured in your holiday home.

    For more information on boating rules and regulations, visit: South Australian boating safety handbook (marinesafety.sa.gov.au)

    Report any suspicious behaviour to SAPOL by calling 131 444.

    Gordon Panton, Manager Marine Safety and Compliance at the Department for Infrastructure and Transport, Senior Sergeant Darian Leske from SAPOL’s Water Operations Unit and Gary Darter, acting General Manager Operations Support at PIRSA at North Haven Marina today, sharing a school holiday water safety message.

    MIL OSI News –

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for April 14, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on April 14, 2025.

    Curious Kids: If you scoop a bucket of water out of the ocean, does it get lower?
    Source: The Conversation (Au and NZ) – By Dylan Irvine, Outstanding Future Researcher – Northern Water Futures, Charles Darwin University Lizzie Lamont/Shutterstock If you scoop a bucket of water out of the ocean, does it get lower? –Ellis, 6 and a half, Hobart This is a great question Ellis! The short answer is yes, but

    The Family Court could better protect Indigenous women and children, but there are barriers in the way
    Source: The Conversation (Au and NZ) – By Heather Douglas, Professor of Law and Deputy Director of the Centre of Excellence for the Elimination of Violence Against Women (CEVAW), The University of Melbourne Shutterstock The family law system is crucial for protecting women and children nationwide. With its combination of judicial oversight, counselling and alternative

    Top unis have imposed new restrictions on campus protests. What does this mean for students, staff and democracy?
    Source: The Conversation (Au and NZ) – By Joo-Cheong Tham, Professor, Melbourne Law School, The University of Melbourne A wave of restrictions on protesting has been rippling through Australia’s top universities. Over the past year, all of Australia’s eight top research universities (the Group of Eight) have individually increased restrictions on campus protests. The changes

    Think your specialist is expensive? Look at what others are paying
    Source: The Conversation (Au and NZ) – By Yuting Zhang, Professor of Health Economics, The University of Melbourne PeopleImages.com – Yuri A/Shutterstock Seeing a medical specialist can leave you with significant out-of-pocket costs. Yet political parties have not adequately addressed this in their pre-election bids. Labor has promised A$7 million to expand the government’s Medical

    Most bike lanes in inner Melbourne have less than 40% tree cover – that’ll get worse, new maps show
    Source: The Conversation (Au and NZ) – By Judy Bush, Senior DECRA Research Fellow, The University of Melbourne Unshaded cycling paths mean heat exposure on hot days, particularly for the afternoon commute. Judy Bush, CC BY Walking and cycling is good for people and the planet. But hot sunny days can make footpaths, bike lanes

    Strongmen, Daggy Dads and State Daddies: how different styles of political masculinity play into Australian elections
    Source: The Conversation (Au and NZ) – By Blair Williams, Lecturer in Australian Politics, Monash University Australian politics has historically been a male domain with an overwhelmingly masculine culture. Manhood and a certain kind of masculinity are still considered integral to a leader’s political legitimacy. Yet leadership masculinity changes along party lines. We are now

    Post-election tax reform is the key to reversing Australia’s growing wealth divide
    Source: The Conversation (Au and NZ) – By Helen Hodgson, Professor, Curtin Law School and Curtin Business School, Curtin University Federal elections always offer the opportunity for a reset. Whoever wins the May 3 election should consider a much needed revamp of the tax system, which is no longer fit for purpose. The biggest challenge

    Productivity reform has been put in the too-hard basket for years. Here’s why leaders leave it alone
    Source: The Conversation (Au and NZ) – By Lachlan Vass, Fellow, Tax and Transfer Policy Institute, Crawford School of Public Policy, Australian National University National licensing of electricians has been one of the few productivity reforms of recent years. Shutterstock The federal election leaders’ and treasurers’ debates last week covered many topics: from Trump’s tariffs

    Newspoll steady but Albanese’s ratings jump; swing to Labor in marginal seats
    Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne A national Newspoll, conducted April 7–10 from a sample of 1,271, gave Labor a 52–48 lead, unchanged since the March 31 to April 4 Newspoll. Primary votes

    Fresh details emerge on Australia’s new climate migration visa for Tuvalu residents
    ANALYSIS: By Jane McAdam, UNSW Sydney The details of a new visa enabling Tuvaluan citizens to permanently migrate to Australia were released this week. The visa was created as part of a bilateral treaty Australia and Tuvalu signed in late 2023, which aims to protect the two countries’ shared interests in security, prosperity and stability,

    Labor and Coalition support for new home buyers welcome but other Australians also struggling with housing affordability
    Source: The Conversation (Au and NZ) – By Michelle Cull, Associate Professor, Western Sydney University doublelee/Shutterstock There is no denying housing reform is urgently needed in Australia to make housing more affordable and accessible to everyday Australians. Both major parties have now announced the incentives they are offering to help first-home buyers. While both Labor

    Voters have a clear choice. Labor’s long term and equitable tax reform or the Coalition’s big but one-off tax cuts
    Source: The Conversation (Au and NZ) – By Isaac Gross, Lecturer in Economics, Monash University Tang Yan Song The election campaign has erupted into a economic battleground as Labor and the Coalition unveiled major new tax policies at their campaign launches. Each policy package is aimed at addressing the mounting cost-of-living pressures facing millions of

    Election Diary: Liberal and Labor launches focus on housing, but who thinks either side can fix that crisis any time soon?
    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra If anyone had any doubts before, Sunday’s Liberal and Labor launches highlighted that this election is an auction for votes, in particular those of the under 40s and people in the outer suburbs. Amid the usual launch hoopla – the

    Accra is a tough city to walk in: how city planners can fix the problem
    Source: The Conversation (Au and NZ) – By Seth Asare Okyere, Visiting lecturer, University of Pittsburg and Adjunct Associate Professor, Osaka University, University of Pittsburgh Humans are walking beings. Walking is intrinsically linked to our physical development from childhood and enables our connections with people and places. We can say it is essential to our

    ER Report: A Roundup of Significant Articles on EveningReport.nz for April 13, 2025
    ER Report: Here is a summary of significant articles published on EveningReport.nz on April 13, 2025.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Australia: Draft Council Plan 2025-2029 released for public comment

    Source: New South Wales Ministerial News

    The draft Council Plan 2025-2029, outlining how Council will guide Greater Bendigo’s growth, development and wellbeing over the next four years, has been released for public comment.

    This important strategic document has been created following extensive consultation with the Greater Bendigo community, City partners, local stakeholder groups, and Greater Bendigo Councillors.

    Public consultation has included a community-wide survey, a series of focus groups, meetings with community representative groups, and information from the City of Greater Bendigo’s online engagement platform Let’s Talk and customer requests.

    In March 2025, the City hosted a community panel with 42 people participating in sessions over three days. The panel included people from over 20 local areas and many different ages, genders and backgrounds.

    Collectively, the panel produced community guidance for Councillors to use when making decisions on behalf of the whole community.

    The draft Council Plan is a comprehensive blueprint for improving and developing Greater Bendigo over the next four years and includes the Municipal Public Health and Wellbeing Plan.

    It outlines the 2025-2029 priorities and guides all detailed complementary documents, including the Revenue and Rating Plan, the Financial Plan, and the Annual Budget.

    The draft Council Plan is structured around four themes, linked to 12 goals and 34 priorities. The themes are:

    • Responsible – Running an effective, fair, and efficient organisation
    • Healthy – Protecting and improving our physical, mental, and environmental health
    • Thriving – Managing our growth, including businesses, housing, heritage, and creativity
    • Welcoming – Celebrating and including everyone in our community

    Mayor Cr Andrea Metcalf encouraged the community to provide feedback on the draft Council Plan.

    “After months of engagement and plan development, it’s now time to check in with the community to make sure the draft Council Plan reflects the feedback received from the community,” Cr Metcalf said.

    “The Council Plan is an important document that will guide the work of Council and City staff over the next four years, investing in our future. It will provide a positive and exciting roadmap for Greater Bendigo.

    “We want to be on the right track before the draft Council Plan is put forward for consideration at a future Council meeting in 2025, so your feedback is important.

    “I wish to thank community members for their time and energy in providing input into this plan. Engagement was extensive, including in-person meetings and a comprehensive survey. A diverse and enthusiastic community panel, with representation from across the region, shared their top priorities on what they value most about living in Greater Bendigo, its challenges and how best to shape its future.”

    MIL OSI News –

  • MIL-OSI Video: Aviation Nation Air Show – Part I (AF Thunderbirds)

    Source: United States Department of Defense (video statements)

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    PRIDE, PROCESSION, PROFESSIONALISM

    The @afthunderbirds take to the sky from their home base at @NellisTV for the 2025 Aviation Nation Air Show in an action-packed display of aerial aerobatics.

    Chapters
    0:00 Preshow Promo
    5:30 Recruits Take Oath of Service
    11:12 Pilots Load Aircrafts
    18:30 Taxi to Runway
    31:44 Inside the Cockpit: Show Time
    33:40 Opening: Thunderbirds Take to the Sky
    36:11 Diamond Pass & Review
    38:34 Calypso Pass
    41:27 Inside the Cockpit: Aileron Rolls
    46:18 Low Bomb Burst
    51:22 Dedication Pass to Military Families
    53:32 Diamond Burner 360
    55:00 Salute to Our Veterans
    1:01:45 Delta Burst
    1:07:50 Closing

    #airforce #military #airshow

    For more on the Department of Defense, visit: http://www.defense.gov
    —————
    Keep up with the Department of Defense on social media!

    Like the DoD on Facebook: http://facebook.com/DeptofDefense
    Follow the DoD on Twitter: http://twitter.com/DeptofDefense
    Follow the DoD on Instagram: http://instagram.com/DeptofDefense
    Follow the DoD on LinkedIn: https://www.linkedin.com/company/DeptofDefense

    https://www.youtube.com/watch?v=Mdvpn3Gp1K4

    MIL OSI Video –

  • MIL-OSI Asia-Pac: DRI thwarts major methamphetamine smuggling operation on outskirts of Mizoram with seizure of 52.67 kg methamphetamine tablets worth Rs. 52.67 crore

    Source: Government of India

    Posted On: 13 APR 2025 2:15PM by PIB Delhi

    In a significant late-night operation on April 11, 2025, the Directorate of Revenue Intelligence (DRI) intercepted a 12-wheeler truck and seized 52.67 kg methamphetamine tablets, valued at Rs. 52.67 crore in the international drug market, on the outskirts of Aizawl, Mizoram.

    The operation uncovered a novel method of concealing and transporting smuggled drugs — 53 meticulously packed, brick-sized packets were found hidden within the folds of the truck’s tarpaulin cover.

     

     

    The packets bore inscriptions such as “3030 Export Only” and “999”, alongside diamond symbols, and contained orange-pink tablets. Tests conducted using the NDPS Field Test Kit confirmed the tablets contained methamphetamine.

     

     

    The truck, registered in Nagaland, had originated from Zokhawthar—a sensitive border town near the Indo-Myanmar frontier—and was enroute to Tripura. DRI intercepted the vehicle before it left Mizoram. Notably, the truck carried no declared goods at the time. Earlier, it had transported cement from Meghalaya to Champhai before continuing to Zokhawthar, where the contraband was loaded.

    The truck’s driver and his assistant were arrested under the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985. Preliminary investigations indicate that the drugs had been smuggled into Mizoram from Myanmar via the Zokhawthar sector.

    The DRI has The DRI has seized 148.50 kg methamphetamine tablets in the North Eastern Region since January 2025 till today, demonstrating its unwavering commitment to combating drug smuggling.

     

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    NB/KMN

    (Release ID: 2121422) Visitor Counter : 47

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Harbour phase of Indian Navy’s maiden initiative ‘Africa-India Key Maritime Engagement exercise’ inaugurated by Minister of Defence and National Service of Tanzania & Raksha Rajya Mantri onboard INS Chennai at Dar es Salaam

    Source: Government of India

    Harbour phase of Indian Navy’s maiden initiative ‘Africa-India Key Maritime Engagement exercise’ inaugurated by Minister of Defence and National Service of Tanzania & Raksha Rajya Mantri onboard INS Chennai at Dar es Salaam

    Oneness & unity of purpose key to overcome maritime challenges and ensure a peaceful & prosperous future: Shri Sanjay Seth

    Posted On: 13 APR 2025 9:26PM by PIB Delhi

    The harbour phase of Indian Navy’s maiden initiative of Africa-India Key Maritime Engagement exercise (AIKEYME) was inaugurated by Minister of Defence and National Service of Tanzania Dr Stergomena Lawrence Tax and Raksha Rajya Mantri Shri Sanjay Seth onboard INS Chennai at Dar es Salaam on April 13, 2025. AIKEYME, co-hosted by India and Tanzania, involves participation from Comoros, Djibouti, Kenya, Madagascar, Mauritius, Mozambique, Seychelles and South Africa.

    Raksha Rajya Mantri also joined the digital inauguration of Weapons Training Simulator facility established at Arusha and inauguration of Defence Expo. In the Defence Expo, 22 companies from India are participating with their key products on display.

    In his address, Raksha Rajya Mantri emphasised on oneness, and unity of purpose to overcome the vast maritime challenges and to ensure a peaceful & prosperous future. He recalled the age-old relations between India & Africa and reiterated the principle of MAHASAGAR (Mutual and Holistic Advancement for Security and Growth Across the Region) for further strengthening the bond with our friends in Africa.

    Shri Sanjay Seth stressed on the African proverb: “If you want to go fast, go alone; if you want to go far, go together,” highlighting the need for enduring partnerships in maritime security. He expressed gratitude to Tanzania for hosting AIKEYME 25, marking a significant step towards long-term collaboration.

    Minister of Defence and National Service of Tanzania thanked India for co-hosting the Exercise and she termed the Exercise a strategic initiative to build strong maritime partnership. She underscored the necessity of a collective approach to address challenges such as piracy and trafficking.

    Dr Stergomena Lawrence Tax reaffirmed Tanzania’s commitment to hosting future editions of AIKEYME and detailed the collaborative framework for regional maritime security, emphasizing innovation and information sharing. Her remarks firmly established that the relationship extends beyond military affairs, advocating for a broader regional cooperation.

    Dignitaries present included the Chief of Defence Force, Tanzania People’s Defence Force, the Chief of Naval Staff of the Indian Navy, and the High Commissioner of India to Tanzania, reinforcing the importance of bilateral defence relationships. The event was punctuated by a parade of a 50-man guard and the stirring performance of the Indian Navy Band, embodying the spirit of maritime cooperation.

    Raksha Rajya Mantri also briefly interacted with the crew of participating countries of the Exercise and IOS SAGAR ship. He did a walkaround of INS Chennai. He gifted 15 sets of Parachutes, books for NDC and a Tri-Services War Gaming Simulator to Tanzania as a token of strong bonds and friendship between the two countries.

    The exercise represents commitment of the participating countries to a free, open and secure Indian Ocean. A new chapter has been added today to the growing relations between India and Africa. AIKEYME 25 and IOS SAGAR symbolize a transformative journey towards enhanced multinational collaboration in securing the seas, forging connections that transcend borders.

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    VK/SR/VM/Savvy

    (Release ID: 2121495) Visitor Counter : 88

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Special traffic and transport arrangements for departure of concert spectators at Kai Tak Sports Park (roundup)

    Source: Hong Kong Government special administrative region

         The Transport Department (TD) today (April 13) said that, following the dispersal of the concert spectators from Kai Tak Stadium of the Kai Tak Sports Park last night (April 12), the overall local and cross-boundary traffic conditions have mostly been smooth.

    The MTR Tuen Ma Line service has been further enhanced during dispersal, which basically met the passenger demand. In response to the passenger queue for taxi service at the Sung Wong Toi Road Taxi Pick-up/Drop-off Area during the peak period, the TD has made all-out efforts to mobilise the taxi trade for picking up passengers and the passenger queue has dissipated. Further, the 11 special bus routes provided services for the outflux of spectators departing for major districts across the territory in an orderly manner.

    In addition, the railway, special bus route, Lok Ma Chau-Huanggang cross-boundary shuttle bus (Yellow Bus), Hong Kong-Zhuhai-Macao Bridge shuttle bus (Gold Bus) and cross-boundary coach services have mostly been normal, providing convenience for cross-boundary travellers.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: India and Nepalhold21st Director-General level talkson Customs cooperation in Kathmandu, Nepal, on 10th-11th April, 2025

    Source: Government of India

    India and Nepalhold21st Director-General level talkson Customs cooperation in Kathmandu, Nepal, on 10th-11th April, 2025

    Both sides emphasised on collaborating in areas to enhance efficiency and effectiveness of trade and Customs operations across the border to deliver significant economic benefits to both countries

    Posted On: 13 APR 2025 11:28AM by PIB Delhi

    The 21st Director-General Level Talks on Customs Cooperation was held between India and Nepal in Kathmandu, Nepal on 10th-11th April, 2025. Both the sides discussed a host of bilateral issues for enhancing Customs Cooperation between the two countries. The Indian delegation was led by Mr. Abhai Kumar Srivastav, Director-General, Directorate of Revenue Intelligence, Central Board of Indirect Taxes & Customs, Department of Revenue, Ministry of Finance, Government of India and Nepali delegation was led by Mr. Mahesh Bhattarai, Director-General, Department of Customs, Ministry of Finance, Government of Nepal.

     

    The agenda items of the meeting covered:

    • Measures to check smuggling 
    • Review progress on MoU on Pre-arrival Exchange of Customs Data and Electronic Origin Data Exchange System (EODES)
    • Finalisation of Customs Mutual Assistance Agreement (CMAA)
    • Facilitation of movement of transit cargo under Electronic Cargo Tracking System (ECTS)
    • Automation and digitisation of transit processes
    • Upgradation of border infrastructure
    • Knowledge sharing program and support for capacity development, among others

     

    Issues related to trans-border criminal activities and smuggling of gold; narcotics; Fake Currency Notes (FCN), prohibited/restricted category of goods, such as e-Cigarettes, e-lighters, certain varieties of garlic and other cases of commercial frauds, including sensitive goods were also deliberated.

    It was acknowledged that smuggling of goods has been a common challenge and both sideslooked forward towards cooperation in preventing smuggling across the borders with active engagement and exchange of intelligence. Both the nations agreed to take necessary measures to control the unauthorised trade and work in tandem.

    Nepal is a priority partner of India under its ‘Neighbourhood First’ Policy. India accounts for two-thirds of Nepal’s exports and is the largest trade partner of Nepal. The bilateral talks on Customs cooperation are an important mechanism to facilitate genuine trade as well as to prevent illicit trade along the border in an interconnected world.

     

     

    The meeting concluded on an optimistic note. The Nepali side expressed their gratitude to the Government of India, particularly the Central Board of Indirect Taxes and Customs (CBIC) for knowledge sharing and capacity enhancement programmes for Nepal Customs officials at different levels.

    Both sides emphasised on collaborating in areas that can enhance the efficiency and effectiveness of trade and Customs operations across the border that deliver significant economic benefits to both the countries. It was mutually agreed to consider new technologies for facilitating trade and preventing smuggling of goods.

     

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    NB/KMN

    (Release ID: 2121393) Visitor Counter : 33

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Kai Tak Sports Park concertgoers should use public transport and stay alert to unstable weather

    Source: Hong Kong Government special administrative region

    Kai Tak Sports Park concertgoers should use public transport and stay alert to unstable weather
    MTR:     Special bus routes:Hong Kong Island: Causeway Bay, Wan Chai, Admiralty, Central, Tai Koo, Shau Kei Wan, Siu Sai Wan;
    Kowloon: Mong Kok, Kwun Tong;
    New Territories East: Tai Po, Fanling, Sheung Shui, Tseung Kwan O;
    New Territories West: Tuen Mun, Yuen Long, Tin Shui Wai, Kwai Chung, Tsuen Wan, Tsing Yi;
          Taxis:     Spectators are advised to take heed of the real-time information via the on-site broadcast and the “Easy Leave” platform (easyleave.police.gov.hkIssued at HKT 19:06

    NNNN

    MIL OSI Asia Pacific News –