NewzIntel.com

Category: Taxation

  • MIL-OSI Security: Dedham Man Pleads Guilty to Submitting Multiple Fraudulent Bank Loan Applications

    Source: Office of United States Attorneys

    BOSTON – A Dedham man pleaded guilty today in federal court in Boston to bank fraud and money laundering.

    Wyoming Killingbarrows, 30, who was born with the name Patricio Junio Brito Pontes Barros, pleaded guilty to four counts of bank fraud and one count of money laundering. U.S. District Court Judge Allison D. Burroughs scheduled sentencing for Oct. 2, 2025. Killingbarrows was charged by Information in April 2025.

    Between June 2, 2021 and July 17, 2021, Killingbarrows submitted 18 fraudulent bank loan applications. In the various loan applications, Killingbarrows used his birth name of Patricio Barros, misrepresented his income, and submitted fraudulent paystubs from a company in support of his applications. Based on these misrepresentations, various banks issued loans to Killingbarrows totaling $329,002. Killingbarrows failed to pay back any of the loans and used the money for various personal expenses, including investments.

    The charges of bank fraud each provide for a sentence of up to 30 years in prison, five years of supervised release and a fine of up to $1 million. The money laundering charge provides for a sentence of up to 10 years in prison, three years of supervised release and a fine of up to $250,000 or twice the amount of the criminally derived property involved in the transaction. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.  

    United States Attorney Leah B. Foley; Randy Maloney, Special Agent in Charge of the U.S. Secret Service, Boston Field Office; and Thomas Demeo, Acting Special Agent in Charge of the Internal Revenue Service Criminal Investigation, Boston Field Office made the announcement today. Assistant U.S. Attorney Brian J. Sullivan of the Narcotics & Money Laundering Unit is prosecuting the case. 

    MIL Security OSI –

  • MIL-OSI Security: Owings Mills Couple Sentenced for Roles in $20-Million Insurance Fraud Scheme

    Source: Office of United States Attorneys

    Baltimore, Maryland – U.S. District Judge Deborah K. Chasanow sentenced James William Wilson, Jr., 78, and his wife, Maureen Ann Wilson, 77, both of Owings Mills, Maryland, to federal prison for their roles in connection with an insurance fraud scheme.

    James Wilson received 12 years for 13 counts of fraud, three counts of money laundering, two counts of filing false tax returns, and one count of aggravated identity theft. Maureen Wilson was sentenced to four years for one count of conspiracy to commit mail and wire fraud, four counts of mail fraud, two counts of wire fraud, one count of conspiracy to commit money laundering, one count of money laundering, and two counts of filing a false return.  Both were ordered to pay restitution in the amount of $18,705,520.30 and the Court entered a forfeiture order including over $14.8 million in seized funds.

    Kelly O. Hayes, U.S. Attorney for the District of Maryland, announced the sentence with Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division, and Special Agent in Charge Kareem A. Carter, IRS Criminal Investigation – Washington, D.C. Field Office.

    According to court documents and evidence presented at trial, the Wilsons conspired to defraud life-insurance companies by securing more than 40 life-insurance policies. The scheme included mispresenting policy applicants’ health, wealth, and existing life-insurance coverage. Total death benefits from these policies exceeded $20 million.

    Additionally, James Wilson, a former Maryland life insurance broker, defrauded individual investors to receive funds that he used to pay premiums on the fraudulently obtained life-insurance policies. The Wilsons concealed the fraud by transferring the proceeds to multiple bank accounts, including accounts in the name of trusts. Then the Wilsons filed false individual income-tax returns for 2018 and 2019, which concealed the fraudulent proceeds from each year, approximately $5.7 million and $2 million, respectively.

    After obtaining the policies, the Wilsons used forged signatures to make themselves, and other nominees they controlled, the owners and beneficiaries of the life insurance policies.  Maureen Wilson also impersonated other people when speaking with the life insurance companies.

    The IRS-CI investigated the case, with assistance from the Maryland Insurance Administration and the Maryland Office of The Attorney General.

    U.S. Attorney Hayes commended the IRS-Criminal Investigation Division for its work in the investigation. Ms. Hayes also thanked Assistant U.S. Attorneys Matthew P. Phelps and Philip Motsay and Trial Attorneys Shawn Noud and Richard Kelley, who prosecuted the federal case.  Ms. Hayes also thanks Trial Attorney Stephanie Williamson, from the Department of Justice’s Money Laundering and Asset Recovery Section, who assisted with the forfeiture proceedings.

    For more information about the Maryland U.S. Attorney’s Office, its priorities, and resources available to report fraud, please visit justice.gov/usao-md and justice.gov/usao-md/report-fraud.

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    MIL Security OSI –

  • MIL-OSI USA: Padilla, Schiff Announce Over $81 Million to Upgrade California Airport Infrastructure

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla, Schiff Announce Over $81 Million to Upgrade California Airport Infrastructure

    WASHINGTON, D.C. — Today, U.S. Senators Alex Padilla and Adam Schiff (both D-Calif.) announced that 18 California airports were awarded a combined $81.3 million in grant funding from the Federal Aviation Administration (FAA) to bolster aviation infrastructure. The funding comes through the Airport Improvement Program (AIP), which invests in airport infrastructure projects such as runways, taxiways, noise cancellation, airport signage, airport lighting, and airport markings.

    “Californians and the millions of people who visit our state each year deserve a safe and easy airport travel experience,” said Senator Padilla. “That starts with modernizing and rehabilitating outdated airport infrastructure. These critical investments will not just make travel smoother for passengers, but will reduce noise pollution in neighboring communities.”

    “These grants will allow us to make critical investments in our airport infrastructure that will enhance the travel experience for millions of visitors and travelers, improve safety, create more jobs, and boost our local economies,” said Senator Schiff.

    California airports receiving funding include:

    • Los Angeles International Airport — $22.80 million: This project acquires and installs full noise mitigation measures for 400 residences affected by airport noise exposure.
    • Van Nuys Airport — $19.45 million: This project reconstructs 3,138 feet of existing paved Taxiway connectors C, D, E, F, H, M, N, P, and Q pavement that have reached the end of their useful lives. This grant is associated with an Airports Infrastructure Grant which funds the remaining eligible portion of the project. This grant funds a portion of the final phase, which consists of reconstruction of 1,788 feet.
    • San Diego International Airport — $15 million: This project acquires and installs full noise mitigation measures for 250 residences affected by airport noise exposure.
    • San Luis Obispo County Regional Airport — $8.71 million: This project rehabilitates 6,101 feet of existing paved Taxiway A to maintain the structural integrity of the pavement and to minimize foreign object debris to extend its useful life. This grant is associated with an Airport Infrastructure Grant that funds the remaining eligible portion of the project. This grant funds a portion of the total project.
    • Hollywood-Burbank/Bob Hope Airport — $7.92 million: This project constructs a new 105,816 square yard Terminal Apron to bring the airport into conformity with current standards. This grant funds the final phase, which consists of construction of 74,071 square yards.
    • March Air Reserve Base — $3.27 million: This project reconstructs 13,950 square yards of the existing Golf Apron pavement that has reached the end of its useful life. This grant is associated with an Airport Infrastructure Grant that funds the remaining eligible portion of the project. This grant funds a portion of phase 2, which consists of construction.
    • Chino Airport — $1.05 million: This project rehabilitates 500 feet of existing paved Taxiway G to maintain the structural integrity of the pavement to extend its useful life. It also extends existing Taxiways H and L an additional 1,800 feet in length to bring the airport into conformity with current standards, while constructing new 1,800-foot Taxiways K, S, and T to bring the airport into conformity with current standards. This grant funds phase 1, which consists of design.

    A complete list of AIP awards for California airports is available here. Last year, Senator Padilla announced $219.5 million in grant funding from the FAA through the AIP to upgrade aviation infrastructure. He also announced $89.3 million from the FAA’s Airport Terminal Program, made possible by the Bipartisan Infrastructure Law. Padilla and the late Senator Dianne Feinstein previously announced a combined $528 million from the Bipartisan Infrastructure Law for airport upgrades and modernizations across California.

    MIL OSI USA News –

  • MIL-OSI Security: Columbus man sentenced to life in prison for drug, firearm, sex trafficking crimes

    Source: United States Department of Justice (Human Trafficking)

    Defendant used violence & drug withdrawals to sex traffic women, caused overdose death

    COLUMBUS, Ohio – David Price, 56, of Columbus, was sentenced in U.S. District Court today to life plus a consecutive 65 years in prison for his role in a narcotics distribution ring involving bulk amounts of fentanyl, crack cocaine, cocaine, methamphetamine and other narcotics. The defendant purposefully provided a narcotics mix to cause the overdose death of an adult female because she was talking to the police about his drug trafficking. Price also sex-trafficked victims through drug withdrawals and violence.

    A federal jury found Price guilty on all counts following a trial in January and February before U.S. District Judge Edmund A. Sargus, Jr.

    As part of this case, which charged 25 total defendants, the government seized more than $1.7 million, 50 firearms and nine vehicles, including a motorcycle.

    A multi-agency law enforcement task force initially announced the case in July 2022 after a federal grand jury initially indicted 11 defendants for distributing bulk amounts of fentanyl, cocaine and crack cocaine in central Ohio within 1,000 feet of a Columbus elementary school.

    A superseding indictment returned in October 2022 charged additional co-conspirators with distributing those same drugs in addition to methamphetamine, heroin, marijuana, Xanax and Oxycodone.

    Price, who is also known as “DP,” was charged in a third superseding indictment in December 2024 with 11 drug, firearm and sex trafficking crimes.

    According to court documents and trial testimony, Price was part of a conspiracy to distribute and possess to distribute 400 grams or more of fentanyl, five kilograms or more of cocaine, 280 grams or more of “crack” cocaine and 100 grams or more of heroin, as well as marijuana, oxycodone and alprazolam. The drug trafficking organization operated from January 2008 until it was dismantled by law enforcement in 2022.

    Drug offenses took place at residences on Burgess and Harris avenues, which are within 1,000 feet of Burroughs Elementary School.

    In July 2021, Price distributed fentanyl, methamphetamine and cocaine that resulted in the overdose death of an adult female. The testimony at trial indicated he purposefully killed her because she was talking to the police about his drug business.

    The government also proved beyond a reasonable doubt at trial that Price conspired to commit sex trafficking. From 2016 until 2022, Price and other members of the conspiracy would force and/or coerce adult female drug addicts into performing commercial sex acts by providing, withholding, or threatening to withhold controlled substances and lodging. Investigation showed that various women would be allowed to stay at a drug residence associated with Price, receive a front of drugs so they were not in active withdrawal, go to Sullivant Avenue and have sex for money, pay the debt from the front drugs, and then be allowed to remain at the house.

    Price was also found guilty of three counts of sex trafficking related to his violence and coercion of three adult females. The testimony at trial indicated that he would lock the females inside his residence for days or weeks at a time and refuse to let them leave, forcing them to engage in sex acts. One victim was locked in a dog cage, shot and stabbed by Price. Another was restrained. A third was beaten and choked and left with a black eye. Price would refuse to provide them drugs unless or until they engaged in the sex acts, forcing them into withdrawal if they did not comply.

    Acting U.S. Attorney Kelly A. Norris commended the investigation coordinated by Ohio Attorney General Dave Yost’s Ohio Organized Crime Investigations Commission task force, which includes Columbus Division of Police Chief Elaine Bryant; Jared Murphey, Acting Special Agent in Charge, Homeland Security Investigations (HSI) Detroit; and Andrew Lawton, Acting Special Agent in Charge, U.S. Drug Enforcement Administration (DEA). Other agencies that have assisted the task force with the investigation include the Franklin County Sheriff’s Office, HIDTA Task Force, IRS-Criminal Investigation, FBI, Ohio Bureau of Criminal Investigations (BCI), Ohio National Guard Counter Drug Task Force, Pickerington Police Department, New Albany Police Department, and the Fairfield County Sheriff’s Office SWAT Team.

    Assistant United States Attorneys Timothy Prichard and Emily Czerniejewski are representing the United States in this case.

    This case was part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation, which is now part of Operation Take Back America. Operation Take Back America is a nationwide federal initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

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    MIL Security OSI –

  • MIL-OSI Economics: Amanda Serrano and Total Wireless champion the everyday fighters who don’t fight in rings

    Source: Verizon

    Headline: Amanda Serrano and Total Wireless champion the everyday fighters who don’t fight in rings

    NEW YORK – Three days before Amanda Serrano steps back into the ring with Katie Taylor at Madison Square Garden, she knows what it means to be underestimated. The boxer has spent her career proving doubters wrong – moving between seven different weight classes, and elevating women’s boxing with Most Valuable Promotions. Now, just as Serrano prepares for what many consider the biggest fight of her career, she recognizes that the same fighting spirit exists in people everywhere – far beyond the boxing ring.

    Punch Your Way In

    Total Wireless, a leading prepaid brand powered by Verizon’s 5G network, announced its partnership with Amanda Serrano for “Punch Your Way In,” transforming Church Street Boxing Gym in Midtown Manhattan (153 W 29th St) into a fun, interactive boxing experience. On Wednesday, July 9 starting at 11:00 AM ET, fans can test their power on professional-grade boxing equipment for the chance to witness Serrano’s July 11 rematch with Katie Taylor. Seven participants will score VIP suite tickets to the fight at Madison Square Garden.

    Punch Your Way In embodies the spirit of Total Wireless, as we stand in the corner of those who fight for better every single day. By choosing Total Wireless, our customers are stepping back into the ring with a partner who always stands in their corner, providing them with more value and more unforgettable exclusive experiences.

    “When we looked at the prepaid space, we saw the same things Amanda saw in boxing – people being told to settle for less because that’s just how it’s always been,” said David Kim, Chief Revenue Officer at Verizon. “Our customers work multiple jobs, support families and chase dreams despite long odds. Amanda represents the same grit and resilience we see in our customers every day. They deserve a wireless provider that’s committed to supporting them at every step.” 

    In Your Corner When It Counts

    Amanda Serrano has faced top opponents and built a career in women’s boxing before the sport had the attention it does today. That persistence paid off when she faced Katie Taylor for the first time in April 2022 at Madison Square Garden and then again in November 2024, in what became the most-streamed women’s sporting event in U.S. history. Amanda narrowly lost the first two matches, each ending in a controversial decision. Now, three years later, she gets her shot at redemption.

    “I’ve spent my career proving that showing up every day matters just as much as talent,” said Amanda Serrano. “That mindset makes you unstoppable. These everyday fighters – the parents working multiple jobs, the strivers pushing through setbacks – they all have the same unstoppable spirit. Total Wireless gets that. They’re not just offering a service; they’re standing in your corner.”

    The collaboration builds on Serrano’s personal experience with Total Wireless, having chosen them as her first phone provider last year at age 36. Since then, Total Wireless has been in her corner, supporting her journey both in and out of the ring.

    As Serrano prepares for a fight that could define her legacy, Total Wireless continues to demonstrate that value and quality can go hand in hand – without compromise.

    To learn more, visit totalwireless.com or visit your nearest Total Wireless store.

    About Total Wireless

    Total Wireless is a fast-growing, no-contract wireless provider covered by the Verizon 5G network, with over 1,500 exclusive stores across the country, and counting. On a mission to raise the bar in prepaid wireless, Total Wireless disrupts the status quo by offering more value than any other no-contract provider. Total Wireless offers plans with unlimited data and access to Verizon’s 5G Ultra-Wideband network, prices guaranteed for five years (taxes and fees included), select free 5G phones with qualifying purchase plans, and more.

    Total Wireless is part of the Verizon Value portfolio of prepaid brands, which includes Straight Talk, Visible, Tracfone, Simple Mobile, SafeLink, Walmart Family Mobile, and Verizon Prepaid. Verizon Communications Inc. (NYSE, Nasdaq: VZ) is one of the world’s leading providers of technology, communications, information and entertainment products and services.

    For more information on Total Wireless, visit one of its exclusive storefronts across the country, or check out TotalWireless.com.

    MIL OSI Economics –

  • MIL-OSI USA: Monthly Budget Review: June 2025

    Source: US Congressional Budget Office

    The federal budget deficit totaled $1.3 trillion in the first nine months of fiscal year 2025, the Congressional Budget Office estimates. That amount is $65 billion more than the deficit recorded during the same period last fiscal year. Revenues increased by $254 billion (or 7 percent), and outlays rose by $320 billion (or 6 percent).

    The change in the deficit was influenced by the timing of outlays. Fiscal year 2024 outlays were reduced because payments that were due on October 1, 2023, a Sunday, were shifted into the prior fiscal year. (Those payments were made in September 2023.) If not for that shift, the deficit so far this fiscal year would have been $7 billion (or 1 percent) less than the shortfall at this point last year.

    H.R. 1, the 2025 reconciliation legislation signed by the President on July 4, 2025, increased the debt limit by $5 trillion. CBO will discuss its estimates of the budget and economic effects of that law in the next edition of The Budget and Economic Outlook.

    MIL OSI USA News –

  • MIL-OSI: Matrixport Establishes Strategy XAUm Reserve, Remains Bullish on the Future of Tokenized Real-World Assets

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, July 09, 2025 (GLOBE NEWSWIRE) — Matrixport, the world’s leading all-in-one hub for crypto financial services, announced that Matrixport Ventures, the investment arm of Matrixport, has completed a strategic reserve of XAUm equivalent to US$3 million, and plans to continue to increase its holdings of XAUm in stages. Matrixport will strengthen the stability of its financial reserves through the strategic reserve of XAUm, expand the depth of gold’s application in the on-chain financial ecosystem, and comprehensively improve its product and service capabilities.

    XAUm is a tokenized gold issued by Matrixdock, a RWA tokenization platform under Matrixport, at the end of 2024. It is 1:1 anchored to 99.99% pure physical gold certified by LBMA, hosted by the world’s top gold vaults, Brink’s and Malca-Amit. XAUm supports offline redemption of physical gold in Singapore and Hong Kong. With high-standard casting, strict auditing, and leading multi-chain deployment (compatibility support for Ethereum, BNB Chain, Plume, HashKey, etc.), XAUm has reached cooperation with well-known protocols such as UniSwap, PancakeSwap, Kinza Finance, and is ranked among the Top 3 gold tokens on-chain adoption rates.

    “Against the backdrop of intensifying global macro uncertainties and rising demand for risk aversion, XAUm, as the cornerstone asset of on-chain gold, possesses the long-term strategic value of hedging against cyclical fluctuations and inflation risks, and becomes an indispensable high-quality asset anchor for on-chain finance. Strategic holding of XAUm has become an important allocation for institutions to optimize their financial reserves and enhance their risk resistance.” John Ge, CEO of Matrixport, stated, “Matrixport will focus on expanding on-chain applications for XAUm to build a tokenized gold financial system covering the whole ecosystem of trading, lending, and investing, enhance the liquidity and availability of on-chain assets, and help global investors efficiently allocate high-quality assets. ”

    Tokenized Gold, as a cross-cycle and cross-market stateless asset, has become the preferred choice for global risk avoidance. Following the international spot gold prices rise, institutions continue to increase their gold holdings, and global central banks have purchased more than 1,000 tons of gold for the third consecutive year. XAUm, as a deep fusion of blockchain and physical gold, breaks through the geographic and liquidity limitations of traditional gold, reshapes its financial attributes and trading paradigm, and is an important choice for on-chain financial asset allocation. With the continuous increase of XAUm’s financial use scenarios, XAUm will further broaden the boundaries of tokenized gold’s stable income, unleash the capital efficiency of RWA, and help global investors rebuild their asset security and sovereignty in the new era of digital finance. Matrixport’s strategic reserve of XAUm may pave the way for institutional allocations in XAUm, allowing for effective hedging against cyclical risks and optimizing debt management.

    About Matrixport

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

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

    About Matrixdock

    Matrixdock is a premier platform under Matrixport Group that offers access to high-quality Real World Assets (RWA) through advanced tokenization technology. As the first in Asia to introduce a tokenized short-term treasury bill product, STBT, Matrixdock earned the Ecosystem Excellence TADS Award in 2023 for Trading & Liquidity Solutions.In 2024, Matrixdock launched XAUm, a tokenized gold asset fully backed by 99.99% purity gold, providing investors with a trusted and transparent digital asset linked to LBMA-accredited gold.

    With a steadfast focus on building a trusted and secure RWA ecosystem for on-chain finance, Matrixdock aims to provide diversified investment opportunities while setting new standards for trust and governance in the digital asset space.

    Matrixdock official website: https://www.matrixdock.com/

    Media Contact: pr@matrixport.com

    Disclaimer: This content is provided by Matrixport. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d45144f9-c42e-45d2-ab99-b7865f7c9196

    The MIL Network –

  • MIL-OSI USA: Hoeven: One Big Beautiful Bill Will Help Make U.S. Energy Dominant

    US Senate News:

    Source: United States Senator for North Dakota John Hoeven

    07.07.25

    Senator Outlines OBBB Policies to Help Stabilize the Grid, Secure the Future of American Energy

    BISMARCK, N.D. – Senator John Hoeven today held a press conference with Representative Julie Fedorchak and Senator Kevin Cramer, where Hoeven outlined how the One Big Beautiful Bill (OBBB) will help make the U.S. energy dominant. The senator discussed how the legislation incentivizes the coal and oil and gas industries to work together to help stabilize the electrical grid and produce more energy from America’s abundant resources. The bill:

    • Unlocks access to taxpayer-owned oil, gas and coal reserves. To this end, the legislation requires the Interior Department to:
      • Hold quarterly lease sales for oil and gas.
      • Take prompt action on new coal lease applications.
      • Open for leasing an additional 4 million acres of known recoverable federal coal reserves.
    • Rolls back Green New Deal policies imposed under the Biden administration, including:
      • Stopping the Inflation Reduction Act (IRA) fee on oil and gas production, also known as the Natural Gas Tax, for 10 years. Hoeven led the effort in the Senate to block implementation of President Biden’s Natural Gas Tax.
      • Reducing federal royalty rates for oil, gas and coal production to their pre-IRA levels.
      • Aligning incentives to encourage partnerships between coal and oil producers, helping coal-fired power plants to stay online longer, while maximizing the potential of oil and gas wells, including in the Bakken.

    “Between the regulatory and tax relief we’ve provided in President Trump’s One Big Beautiful Bill, we’re securing the future of energy production in North Dakota, supporting the stability of our electrical grid by keeping our coal plants online and helping make the U.S. truly energy dominant,” said Hoeven. “Importantly, we’re stopping the Green New Deal policies from the last administration and taking the handcuffs off of energy production on federal lands. At the same time, we’re supporting partnerships between coal, oil and gas producers that will secure the future of energy production in North Dakota and across the nation. That’s how you ensure we can meet the demands of emerging industries, like AI, while ensuring affordable and reliable energy for American consumers and businesses.”

    MIL OSI USA News –

  • MIL-OSI Security: Leader Of Multimillion-Dollar Bank Fraud Scheme Is Sentenced To 15 Years In Prison

    Source: Office of United States Attorneys

    CHARLOTTE, N.C. – The leader of a multimillion-dollar bank fraud scheme and one of his co-conspirators were sentenced to prison today, announced Russ Ferguson, U.S. Attorney for the Western District of North Carolina. Kotto Yaphet Paul, 50 of Waxhaw, N.C., was ordered to serve 15 years in prison followed by five years of supervised release. Latoya Tameika Ford, 50, of Covington, Georgia, was sentenced to 27 months in prison followed by three years of supervised release. Both Paul and Ford pleaded guilty to conspiracy to commit wire fraud and bank fraud. Paul also pleaded guilty to money laundering and aiding and abetting.

    A third co-conspirator, Bruce Howard Marko, 66, of Charlotte, was sentenced in April to 12 months and a day in prison followed by two years of supervised release and was ordered to pay restitution in the amount of $1.5 million for his role in the scheme. A fourth individual charged in this case, Love Norman, of West Palm Beach, Florida, has pleaded guilty to conspiracy to commit wire fraud and bank fraud and is awaiting sentencing.

    Four additional defendants were previously convicted of bank fraud conspiracy for their involvement in the scheme. Amrish D. Patel was sentenced to 15 months in prison. Dwight A. Peebles, Jr. was sentenced to 18 months in prison. Denise Woodard was ordered to serve 36 months in prison, and Derrick L. Harrison, was sentenced to a year and a day in prison. The defendants were also ordered to pay restitution ranging from $620,000 to more than $3.1 million.

    According to filed court documents and court proceedings, beginning in 2018, the co-conspirators executed a scheme that defrauded at least 17 federally insured financial institutions of more than $17 million in fraudulent loans. Paul, who was the organizer and leader of the scheme and the primary beneficiary of the fraud conspiracy, relied on a network of co-conspirators that included Ford, to prepare and submit the fraudulent loan applications to financial institutions and facilitate the fraud. The fraudulent loans were of several types, including business loans purportedly for the purchase of equipment, land development loans, and residential mortgage loans. To secure the loans from the financial institutions, Paul and his co-conspirators made material misrepresentations on the loan applications and provided fraudulent documentation, including false income and employment information; financial statements; bank statements; and tax returns. The loan applications also contained misrepresentations about the purpose of the loans and the operations of the relevant businesses.

    Based on the fraudulent loan applications, Paul and his co-conspirators secured at least 42 loans from the victim financial institutions. Contrary to information provided on the loan applications about the purposes of the loans, the defendants used the loan proceeds to purchase real estate, cover unrelated business expenses, make investments, make payments toward earlier loans, and pay for personal expenditures.

    According to court documents, Paul engaged in money laundering in furtherance of the fraud and executed monetary transactions using funds derived from the criminal scheme. For example, in 2020, Paul wired nearly $400,000 to a title insurance company that Norman used to purchase a home in Florida.

    Court documents show that the defendants defaulted on most of the loans, causing substantial losses to the victim financial institutions that issued the loans.

    In making today’s announcement, U.S. Attorney Ferguson credited the Office of the Inspector General of the Board of Governors of the Federal Reserve System, the Office of the Inspector General for the Federal Housing Finance Agency, the Office of the Inspector General for the Federal Deposit Insurance Corporation, the Federal Bureau of Investigation in Charlotte, and the Charlotte Field Office of the Internal Revenue Service’s Criminal Investigation, for the investigation of this case.

    Assistant U.S. Attorney Don Gast with the U.S. Attorney’s Office in Asheville is prosecuting the case. 

    MIL Security OSI –

  • MIL-OSI Security: Scott County Cattle Farmer Pleads Guilty to COVID-19 Fraud

    Source: Office of United States Attorneys

    LEXINGTON, Ky.— A Georgetown, Ky., man, Robert Conley, 71, has pleaded guilty before U.S. District Judge Karen Caldwell to providing a criminally false claim in order to obtain COVID relief funds. 

    In 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed in response to the COVID-19 pandemic, established many programs that were funded primarily by the federal government and administered by state workforce agencies. One of the programs provided support to farmers and ranchers through the Coronavirus Food Assistance Program (CFAP). CFAP provided financial assistance to producers of agricultural commodities with financial assistance for sales losses associated with the COVID-19 pandemic. The USDA’s Farm Service Agency administered the program. CFAP applicants electronically certified that the information provided was accurate and were warned that any false statement or misrepresentation to the USDA or any misapplication of loan proceeds could result in sanctions, including criminal penalties.

    Conley is a buyer and seller of cattle in Georgetown and is also part owner of Paris Stockyards in Paris, Ky. According to Conley’s plea agreement, on May 26, 2020 and on September 29, 2020, he filed two CFAP applications. In additional to the two legitimate applications, Conley directed and caused four individuals to unwittingly submit false CFAP applications claiming they owned 20% of Conley’s cattle. At Conley’s direction, the four individuals received a total of $1,206,539.80 in CFAP funds, which they remitted back to Conley.   

    Additionally, Conley caused the submission of three false applications under the Small Business Administration’s Paycheck Protection Program (PPP), claiming three of the individuals had payroll expenses associated with Conley’s cattle operation.  As a result of those false PPP applications, another $72,660 was fraudulently obtained.

    Paul McCaffrey, Acting United States Attorney for the Eastern District of Kentucky; Janet M. Sorensen, Acting Special Agent in Charge, United States Department of Agriculture Office of Inspector General; and Karen Wingerd, Special Agent in Charge, IRS-Criminal Investigations, Cincinnati Field Division, jointly announced the guilty plea.

    The investigation was conducted by the USDA-OIG and IRS. Assistant U.S. Attorney Kate Smith is prosecuting the matter on behalf of the United States.

    Conley is scheduled to appear for sentencing on October 9, 2025.  He faces a maximum of 5 years in prison. However, the Court must consider the U.S. Sentencing Guidelines and the applicable federal sentencing statutes before imposing its sentence.

    On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud.  The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts.  For more information on the Department’s response to the pandemic, please visit https://www.justice.gov/coronavirus.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    — END —

    MIL Security OSI –

  • MIL-OSI Security: Two South Florida Men Sentenced to Federal Prison for Bank Fraud

    Source: Office of United States Attorneys

    MIAMI – On June 13, Jeremiah Wolliston, 23, and Keith Patrick, 38, of West Palm Beach, Florida, were sentenced to 168 months and 72 months in federal prison, respectively, after pleading guilty to their involvement in a scheme to buy stolen business checks from the mail and commit bank fraud.

    According to court documents, between December 2022 and May 2024, Wolliston and Patrick were involved in a conspiracy with others to buy stolen business checks from the mail, which were then altered and deposited into fraudulently opened bank accounts. As part of the scheme, Wolliston and Patrick set up fictitious corporations in Florida and Georgia using the names of their corporate victims and opened fraudulent bank accounts. Wolliston and Patrick deposited the checks before making ATM and counter withdrawals, wire transfers, and drafting checks to transfer the money to other members of the conspiracy. Total losses related to the scheme exceeded $4.5 million.

    U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida and acting Inspector in Charge Bladismir Rojo of the U.S. Postal Inspection Service (USPIS) made the announcement.

    USPIS, Homeland Security Investigations, USPS Office of the Inspector General, Treasury Inspector General for Tax Administration, West Palm Beach Police Department, and the Palm Beach Sherriff’s Office jointly investigated the case.

    Assistant U.S. Attorney Daniel Rosenfeld prosecuted the case.

    Assistant U.S. Attorney Mitch Hyman is handling asset forfeiture.

    You may find a copy of this press release (and any updates) on the website of the United States Attorney’s Office for the Southern District of Florida at www.usdoj.gov/usao/fls.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov,under case number  24-CR-20440.

    ###

    MIL Security OSI –

  • MIL-OSI: The first choice for BNB staking mining in 2025: BSC Miner intelligent compound interest system earns $500+ a day

    Source: GlobeNewswire (MIL-OSI)

    London, UK, July 09, 2025 (GLOBE NEWSWIRE) —

    With the explosive growth of the Binance Smart Chain ecosystem, BNB staking income has become the hottest passive income channel in 2025. BSC Miner (https://bscminer.cc), as a pure on-chain smart contract platform, pushes the annualized income to 247.38% (platform real-time data) through the innovative “compound interest acceleration engine”, completely subverting the traditional cloud mining model!

    1. Core Mechanism: This is the real DeFi mining
    ✅ 100% transparent operation on the chain

    All funds are stored in the user’s personal wallet (such as MetaMask/Trust Wallet)

    The contract is audited by a third party (verification code can be checked on the official website)

    Income is calculated by seconds, and BNB is automatically credited to the account every day

    ✅ Intelligent compound interest acceleration model

    Stage Traditional staking APY BSC Miner compound APY

    Stage Traditional staking APY BSC Miner compound APY
    Day 7 120% 136%
    Day 30 120% 247%
    Day 60 120% 518%

    Note: Automatically generated based on daily income reinvestment

    2. Operation test: Open the wealth channel in 3 minutes
    1. Minimum 0.05 BNB to start (about $15 USD)
    2. Four-step operation process:

    ① Connect wallet → ② Join mining pool → ③ Smart contract → ④ Receive daily income
    3. Revenue visualization dashboard:

    Real-time display of hourly revenue growth curve

    Automatic compound interest reinvestment window

    3. Real user revenue case (2025.7.5 data)
    Investment amount Operation days Total revenue Current daily revenue

    Investment Amount Number of Days in Operation Total Return Current Daily Return
    $500 15 days $217.6 $19.2
    $2,000 42 days $5,380 $163.5
    $8,000 68 days $31,200 $538.7

    Log in to the official website to verify the data in real time

    4. Double insurance for security

    • Contract risk control mechanism

    The maximum pledge limit for a single address is $20,000 (to prevent giant whale manipulation)
    Real-time revenue distribution

    • Absolute autonomy of funds

    Terminate the contract at any time to retrieve the principal (minus 10% handling fee)

    The revenue BNB is directly deposited into the personal wallet

    • Limited time event (July 2025)

    1.New users register to get $5 BNB Experience Fund
    2.Get a 3-day income acceleration card for the first staking of 0.5 BNB
    3.Invite friends to get a lifetime 12% income share

    Go to BSC Miner official website immediately

    User testimony

    “Stake 12 BNB in BSC Miner, and the daily income on the 30th day exceeded 1.2 BNB. This is the most powerful compound interest model I have ever seen!”
    – Canadian user @CryptoMax (available on the chain on June 29, 2025)

    Why do millions of users choose BSC Miner?

    ✦ Pure on-chain contract 0 physical mine risk
    ✦ Income data 100% verifiable on the chain
    ✦ Compound income model mathematically verified
    ✦ Global average daily processing of $3.7 million in pledges

    In an era where income is king, let the code make money for you!
    Website: https://bscminer.cc

    MEDIA CONTACT
    Full Name: Jenner Kevin
    Email: info@bscminer.cc
    City:  Derry, North Orland
    Country:  UK

    Attachment

    The MIL Network –

  • MIL-OSI: Element to Announce Q2 2025 Results and Host Conference Call on August 7, 2025

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, July 09, 2025 (GLOBE NEWSWIRE) — Element Fleet Management Corp. (TSX: EFN) (“Element” or the “Company”), the largest publicly traded, pure-play automotive fleet manager in the world, will hold its Q2 2025 results conference call and webcast for investors and analysts on Thursday, August 7, 2025, at 8:00 a.m. Eastern Time. Element’s financial results for the period will be issued after market close on Wednesday, August 6, 2025 and will be available on the Company’s website at elementfleet.com/investor-relations/public-disclosures.

    The conference call and webcast can be accessed as follows:

    Call Date: Thursday, August 7, 2025
    Call Time: 8:00 a.m. (Eastern Time)

    A taped recording of the conference call may be accessed through September 7, 2025, by dialing 1-855-669-9658 (Canada/U.S. Toll Free) or 1-412-317-0088 (International Toll) and entering the access code 3828575.

    About Element Fleet Management Corp.

    Element Fleet Management (TSX: EFN) is the largest publicly traded pure-play automotive fleet manager in the world. As a Purpose-driven company, we provide a full range of sustainable and intelligent mobility solutions to optimize and enhance fleet performance for our clients across North America, Australia, and New Zealand. Our services address every aspect of our clients’ fleet requirements, from vehicle acquisition, maintenance, route optimization, risk management, and remarketing, to advising on decarbonization efforts, integration of electric vehicles and managing the complexity of gradual fleet electrification. Clients benefit from Element’s expertise as one of the largest fleet solutions providers in its markets, offering economies of scale and insight used to reduce operating costs and enhance efficiency and performance. At Element, we maximize our clients’ fleet so they can focus on growing their business. For more information, please visit: https://www.elementfleet.com

    The MIL Network –

  • MIL-OSI Submissions: ‘Big Beautiful Bill’ will have Americans paying higher prices for dirtier energy

    Source: The Conversation – USA (2) – By Daniel Cohan, Professor of Civil and Environmental Engineering, Rice University

    Congress passed Donald Trump’s tax and spending bill on July 3, 2025. Kevin Carter/Getty Images

    When congressional Republicans decided to cut some Biden-era energy subsidies to help fund their One Big Beautiful Bill Act, they could have pruned wasteful subsidies while sparing the rest. Instead, they did the reverse. Americans will pay the price with higher costs for dirtier energy.

    The nearly 900-page bill that President Donald Trump signed on July 4, 2025, slashes incentives for wind and solar energy, batteries, electric cars and home efficiency while expanding subsidies for fossil fuels and biofuels. That will leave Americans burning more fossil fuels despite strong public and scientific support for shifting to renewable energy.

    As an environmental engineering professor who studies ways to confront climate change, I think it is important to distinguish which energy technologies could rapidly cut emissions or need a financial boost to become viable from those that are already profitable but harm the environment. Unfortunately, the Republican bill favors the latter while stifling the former.

    The Spring Creek Mine in Decker, Mont., is just one mine in the Powder River Basin, the most productive coal-producing region in the U.S.
    AP Photo/Matthew Brown

    Cuts to renewable electricity

    Wind and solar power, often paired with batteries, provide over 90% of the new electricity added nationally and around the world in recent years. Natural gas turbines are in short supply, and there are long lead times to build nuclear power plants. Wind and solar energy projects – with batteries to store excess power until it’s needed – offer the fastest way to satisfy growing demand for power. Recent technological breakthroughs put geothermal power on the verge of rapid growth.

    However, the One Big Beautiful Bill Act rescinds billions of dollars that the Inflation Reduction Act, enacted in 2022, devoted to boosting domestic manufacturing and deployments of renewable energy and batteries.

    It accelerates the phaseout of tax credits for factories that manufacture equipment needed for renewable energy and electric vehicles. That would disrupt the boom in domestic manufacturing projects that had been stimulated by the Inflation Reduction Act.

    Efforts to build new wind and solar farms will be hit even harder. To receive any tax credits, those projects will need to commence construction by mid-2026 or come online by the end of 2027. The act preserves a slower timeline for phasing out subsidies for nuclear, geothermal and hydrogen projects, which take far longer to build than wind and solar farms.

    However, even projects that could be built soon enough will struggle to comply with the bill’s restrictions on using Chinese-made components. Tax law experts have called those provisions “unworkable,” since some Chinese materials may be necessary even for projects built with as much domestic content as possible. For example, even American-made solar panels may rely on components sourced from China or Chinese-owned companies.

    Princeton University professor Jesse Jenkins estimates that the bill will mean wind and solar power generate 820 fewer terawatt-hours in 2035 than under previous policies. That’s more power than all U.S. coal-fired power plants generated in 2023.

    That’s why BloombergNEF, an energy research firm, called the bill a “nightmare scenario” for clean energy proponents.

    However, one person’s nightmare may be another man’s dream. “We’re constraining the hell out of wind and solar, which is good,” said U.S. Rep. Chip Roy, a Texas Republican who is backed by the oil and gas industry.

    Federal tax credits for homeowners who install solar panels will now expire at the end of 2025.
    AP Photo/Michael Conroy

    Electric cars and efficiency

    Cuts fall even harder on Americans who are trying to reduce their carbon footprints and energy costs. The quickest phaseout comes for tax credits for electric vehicles, which will end on Sept. 30, 2025. And since the bill eliminates fines on car companies that fail to meet fuel economy standards, other new cars are likely to guzzle more gas.

    Tax credits for home efficiency improvements such as heat pumps, efficient windows and energy audits will end at the end of 2025. Homeowners will also lose tax credits for installing solar panels at the end of the year, seven years earlier than under the previous law.

    The bill also rescinds funding that would have helped cut diesel emissions and finance clean energy projects in underserved communities.

    Federal tax credits for buying electric vehicles will end on Sept. 30, 2025.
    AP Photo/Jae C. Hong

    Support for biofuels and fossil fuels

    Biofuels and fossil fuels fared far better under the bill. Tens of billions of dollars will be spent to extend tax credits for biofuels such as ethanol and biodiesel.

    Food-based biofuels do little good for the climate because growing, harvesting and processing crops requires fertilizers, pesticides and fuel. The bill would allow forests to be cut to make room for crops because it directs agencies to ignore the effects of biofuels on land use.

    Meanwhile, the bill opens more federal lands and waters to leasing for oil and gas drilling and coal mining. It also slashes the royalties that companies pay to the federal government for fuels extracted from publicly owned land. And a new tax credit will subsidize metallurgical coal, which is mainly exported to steelmakers overseas.

    The bill also increases subsidies for using captured carbon dioxide to extract more oil and gas from the ground. That makes it less likely that captured emissions will only be sequestered to combat climate change.

    Summing it up

    With fewer efficiency improvements, fewer electric vehicles and less clean power on the grid, Princeton’s Jenkins projects that the law will increase household energy costs by over $280 per year by 2035 above what they would have been without the bill. The extra fossil fuel-burning will negate 470 million tons of anticipated emissions reductions that year, a 7% bump.

    The bill will also leave America’s clean energy transition further behind China, which is deploying more solar and wind power and electric vehicles than the rest of the world combined.

    No one expected President Joe Biden’s Inflation Reduction Act to escape unscathed with Republicans in the White House and dominating both houses of Congress, even though many of its projects were in Republican-voting districts. Still, pairing cuts to clean energy with support for fossil fuels makes Trump’s bill uniquely harmful to the world’s climate and to Americans’ wallets.

    This article includes some material previously published on June 10, 2025.

    Daniel Cohan receives research funding from the Carbon Hub at Rice University. He previously received research funding from Project InnerSpace, the Mitchell Foundation, the National Science Foundation, NASA, and the Environmental Protection Agency.

    – ref. ‘Big Beautiful Bill’ will have Americans paying higher prices for dirtier energy – https://theconversation.com/big-beautiful-bill-will-have-americans-paying-higher-prices-for-dirtier-energy-260588

    MIL OSI –

  • MIL-OSI Submissions: ‘Big Beautiful Bill’ will have Americans paying higher prices for dirtier energy

    Source: The Conversation – USA (2) – By Daniel Cohan, Professor of Civil and Environmental Engineering, Rice University

    Congress passed Donald Trump’s tax and spending bill on July 3, 2025. Kevin Carter/Getty Images

    When congressional Republicans decided to cut some Biden-era energy subsidies to help fund their One Big Beautiful Bill Act, they could have pruned wasteful subsidies while sparing the rest. Instead, they did the reverse. Americans will pay the price with higher costs for dirtier energy.

    The nearly 900-page bill that President Donald Trump signed on July 4, 2025, slashes incentives for wind and solar energy, batteries, electric cars and home efficiency while expanding subsidies for fossil fuels and biofuels. That will leave Americans burning more fossil fuels despite strong public and scientific support for shifting to renewable energy.

    As an environmental engineering professor who studies ways to confront climate change, I think it is important to distinguish which energy technologies could rapidly cut emissions or need a financial boost to become viable from those that are already profitable but harm the environment. Unfortunately, the Republican bill favors the latter while stifling the former.

    The Spring Creek Mine in Decker, Mont., is just one mine in the Powder River Basin, the most productive coal-producing region in the U.S.
    AP Photo/Matthew Brown

    Cuts to renewable electricity

    Wind and solar power, often paired with batteries, provide over 90% of the new electricity added nationally and around the world in recent years. Natural gas turbines are in short supply, and there are long lead times to build nuclear power plants. Wind and solar energy projects – with batteries to store excess power until it’s needed – offer the fastest way to satisfy growing demand for power. Recent technological breakthroughs put geothermal power on the verge of rapid growth.

    However, the One Big Beautiful Bill Act rescinds billions of dollars that the Inflation Reduction Act, enacted in 2022, devoted to boosting domestic manufacturing and deployments of renewable energy and batteries.

    It accelerates the phaseout of tax credits for factories that manufacture equipment needed for renewable energy and electric vehicles. That would disrupt the boom in domestic manufacturing projects that had been stimulated by the Inflation Reduction Act.

    Efforts to build new wind and solar farms will be hit even harder. To receive any tax credits, those projects will need to commence construction by mid-2026 or come online by the end of 2027. The act preserves a slower timeline for phasing out subsidies for nuclear, geothermal and hydrogen projects, which take far longer to build than wind and solar farms.

    However, even projects that could be built soon enough will struggle to comply with the bill’s restrictions on using Chinese-made components. Tax law experts have called those provisions “unworkable,” since some Chinese materials may be necessary even for projects built with as much domestic content as possible. For example, even American-made solar panels may rely on components sourced from China or Chinese-owned companies.

    Princeton University professor Jesse Jenkins estimates that the bill will mean wind and solar power generate 820 fewer terawatt-hours in 2035 than under previous policies. That’s more power than all U.S. coal-fired power plants generated in 2023.

    That’s why BloombergNEF, an energy research firm, called the bill a “nightmare scenario” for clean energy proponents.

    However, one person’s nightmare may be another man’s dream. “We’re constraining the hell out of wind and solar, which is good,” said U.S. Rep. Chip Roy, a Texas Republican who is backed by the oil and gas industry.

    Federal tax credits for homeowners who install solar panels will now expire at the end of 2025.
    AP Photo/Michael Conroy

    Electric cars and efficiency

    Cuts fall even harder on Americans who are trying to reduce their carbon footprints and energy costs. The quickest phaseout comes for tax credits for electric vehicles, which will end on Sept. 30, 2025. And since the bill eliminates fines on car companies that fail to meet fuel economy standards, other new cars are likely to guzzle more gas.

    Tax credits for home efficiency improvements such as heat pumps, efficient windows and energy audits will end at the end of 2025. Homeowners will also lose tax credits for installing solar panels at the end of the year, seven years earlier than under the previous law.

    The bill also rescinds funding that would have helped cut diesel emissions and finance clean energy projects in underserved communities.

    Federal tax credits for buying electric vehicles will end on Sept. 30, 2025.
    AP Photo/Jae C. Hong

    Support for biofuels and fossil fuels

    Biofuels and fossil fuels fared far better under the bill. Tens of billions of dollars will be spent to extend tax credits for biofuels such as ethanol and biodiesel.

    Food-based biofuels do little good for the climate because growing, harvesting and processing crops requires fertilizers, pesticides and fuel. The bill would allow forests to be cut to make room for crops because it directs agencies to ignore the effects of biofuels on land use.

    Meanwhile, the bill opens more federal lands and waters to leasing for oil and gas drilling and coal mining. It also slashes the royalties that companies pay to the federal government for fuels extracted from publicly owned land. And a new tax credit will subsidize metallurgical coal, which is mainly exported to steelmakers overseas.

    The bill also increases subsidies for using captured carbon dioxide to extract more oil and gas from the ground. That makes it less likely that captured emissions will only be sequestered to combat climate change.

    Summing it up

    With fewer efficiency improvements, fewer electric vehicles and less clean power on the grid, Princeton’s Jenkins projects that the law will increase household energy costs by over $280 per year by 2035 above what they would have been without the bill. The extra fossil fuel-burning will negate 470 million tons of anticipated emissions reductions that year, a 7% bump.

    The bill will also leave America’s clean energy transition further behind China, which is deploying more solar and wind power and electric vehicles than the rest of the world combined.

    No one expected President Joe Biden’s Inflation Reduction Act to escape unscathed with Republicans in the White House and dominating both houses of Congress, even though many of its projects were in Republican-voting districts. Still, pairing cuts to clean energy with support for fossil fuels makes Trump’s bill uniquely harmful to the world’s climate and to Americans’ wallets.

    This article includes some material previously published on June 10, 2025.

    Daniel Cohan receives research funding from the Carbon Hub at Rice University. He previously received research funding from Project InnerSpace, the Mitchell Foundation, the National Science Foundation, NASA, and the Environmental Protection Agency.

    – ref. ‘Big Beautiful Bill’ will have Americans paying higher prices for dirtier energy – https://theconversation.com/big-beautiful-bill-will-have-americans-paying-higher-prices-for-dirtier-energy-260588

    MIL OSI –

  • MIL-OSI Africa: Government to publish strategy for planned disaster risk management

    Source: Government of South Africa

    With the Southern African region experiencing a growing number of climate-related disasters, government says it will increase its focus on reducing the fiscal and human cost of disasters by planning for them instead of reacting to them.

    “When disasters strike, government is forced to reallocate funds from other priorities to respond, often at the cost of long-term development. This cycle of crisis and reallocation is unsustainable,” the Deputy Minister of Finance, Ashor Sarupen, said on Tuesday in Parliament. 

    Through the finalisation and publishing of a National Disaster Risk Financing Strategy in the 2025/26 financial year, government’s strategy will shift from reactive funding to proactive, planned disaster risk management.

    The strategy will:

    • Introduce disaster risk financing instruments, including climate insurance products, to improve response time and predictability of funding;
    • Embed disaster risk management in grant frameworks, particularly those for infrastructure and local government, and
    • Support line departments and municipalities in mainstreaming climate risk into their financial planning and investment decisions.

    “Climate change is not a future threat. It is a present reality, and our budget frameworks must reflect that,” Sarupen said while tabling the National Treasury’s Budget Vote.

    Spending for Growth

    As part of National Treasury’s broader macroeconomic framework reforms to drive structural economic transformation and attract investment, public infrastructure spending will exceed R1 trillion over three years. 

    “This represents the fastest-growing area of government expenditure and is aimed at easing supply-side economic constraints and improving social service access. 

    “The Budget Facility for Infrastructure (BFI) is being reconfigured to attract private sector participation through multiple appraisal windows, separated investment and financing decisions, and diversified financing instruments including guarantees, build-operate-transfer structures, and concessional loans,” the Deputy Minister said. 

    New public-private partnership (PPP) regulations, effective 1 June 2025, have reduced procedural complexity, with supporting frameworks for unsolicited proposals and fiscal commitments to be published soon, while municipal PPP regulations will be finalised before the Medium-Term Budget Policy Statement.

    “A single National Treasury-overseen structure will be established this year to systematically crowd-in private sector finance and expertise, consolidating large-scale project preparation, providing PPP technical support, improving data management, and enhancing private sector engagement,” he said.

    Rebuilding local government finances

    In an effort to address service delivery breakdowns, fiscal mismanagement, and governance failures at municipalities, National Treasury is responding with targeted support and structural financial reforms.

    National Treasury’s approach focuses on the following key areas:

    • Adoption of Funded Budgets: Municipalities can no longer adopt unfunded budgets based on wishful projections. Treasury is enforcing the requirement for credible, funded budgets as the basis of municipal financial planning.
    • Revenue Value Chain Reforms: Treasury is supporting municipalities to improve billing systems, strengthen collection rates, and protect revenue integrity. Without this, no budget can be sustainable.
    • Capacity Building: Through direct technical support, Treasury is building the financial management skills of municipal officials, particularly CFOs and budget managers.
    • Financial Recovery Plans: For municipalities in financial distress, Municipal Financial Recovery Services (MFRS) provide tailored recovery plans. These are not generic interventions, they are grounded in the real financial position of each municipality.
    • mSCOA Implementation: The Municipal Standard Chart of Accounts (mSCOA) brings transparency and uniformity to local government finances. It allows us to compare apples with apples — across municipalities, across provinces, and across time.
    • Consequence Management: Treasury is working closely with the Department of Co-operative Governance and Traditional Affairs (CoGTA) and the Auditor-General South Africa (AGSA) to ensure that financial misconduct is addressed swiftly. Public money must be protected. Where there is wrongdoing, there must be consequences.

    Reforming the auditing profession

    After years of audit failures in both the public and private sectors, National Treasury is currently reviewing the Auditing Profession Act.

    The Act provides for the establishment of the Independent Regulatory Board for Auditors; the education, training and professional development of registered auditors; the accreditation of professional bodies; the registration of auditors, and the regulation of the conduct of registered auditors.

    “The proposed amendments are designed to strengthen the Independent Regulatory Board for Auditors (IRBA) and align our regulatory framework with international best practice. These reforms are not just technical changes; they are about fostering trust, integrity, and public confidence in the profession. The auditing profession plays a critical role in financial markets and public accountability,” the Deputy Minister said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Woman prosecuted for illegally subletting Birmingham council home

    Source: City of Birmingham

    A former Birmingham City Council tenant has been fined and lost her council home after pleading guilty to unlawfully subletting.

    Ms Strauja advertised her council home to rent on social media; she told her sub-tenant that she owned the council property and was moving out to live with her partner.

    Birmingham City Council was alerted to the situation when Ms Strauja gave her sub-tenant notice to leave, and the tenant reported themselves as homeless.

    On 24 August 2023, Ms Strauja pleaded guilty at Birmingham Magistrates’ Court to one offence of unlawfully subletting a council property and one associated Council Tax fraud offence.

    Ms Strauja was fined £100 for the sub-letting offence, was ordered to pay £900 in unlawfully obtained profits as a result of sub-letting the property and a £40 victim surcharge.

    At a hearing on 20 May 2025, at Birmingham County Court, Ms Strauja stated that she regretted her actions and understood that she had broken the terms and conditions of her tenancy agreement, but wanted to remain in the property as private rental prices were high. 

    It was pointed out that by unlawfully subletting the property, Ms Strauja had automatically broken the security of her tenancy and that this cannot be restored. The District Judge therefore granted a possession order for the property and a payment plan to recover the outstanding occupancy charges. Ms Strauja’s tenancy ended on 8 June 2025.

    Councillor Nicky Brennan, cabinet member for housing and homelessness, said: 

    “The fabric of our society is based on having a good home. It is fundamental to people’s sense of place, health and wellbeing.

    “To sublet one of our homes deprives people of a much-needed home – we will not tolerate it and will use the full extent of the law to root out people abusing the system.

    “There are 25,000 people on the housing register in Birmingham waiting for a good and safe home.

    “We hope this acts as a warning for tenants considering subletting a council property. If you sublet a property, you can receive a criminal record, potentially face imprisonment, be fined, and be ordered to repay the money you earned.

    “Once you’ve sublet a council property, you’ve automatically broken the security of tenure, and that cannot be restored – you will lose the property.

    “We urge all residents to respect council homes and report suspected fraud. Together, we can ensure fair provision of social housing.”

    People who suspect someone of unlawfully subletting a council home can report this online via report a fraud.

    MIL OSI United Kingdom –

  • MIL-OSI: Debt Financing in USA for Venture, Business, and Real Estate Loan Options Explained

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, July 09, 2025 (GLOBE NEWSWIRE) — 50KLoans, a leading US based loan comparison and matchmaking platform, has announced the official launch of its nationwide debt financing service, providing individuals, startups, and real estate investors with fast access to capital while retaining full ownership of their assets.

    In today’s economic climate, securing funding without giving up equity is critical. Through this new offering, 50KLoans connects borrowers with vetted lenders offering various types of debt financing, including real estate debt financing, venture debt financing, and small business term loans. Applicants can secure funding ranging from $5,000 to $500,000 with flexible terms and competitive interest rates.

    Check Your Eligibility for Debt Financing >>

    What Is Debt Financing and Who Is It For?

    For those unfamiliar, what is debt financing? Simply put, it refers to borrowing money that must be repaid over time with interest. According to the debt financing definition, this model allows businesses and individuals to raise capital without selling ownership stakes.

    • Real estate developers seeking property funding
    • Entrepreneurs avoiding early equity dilution
    • Businesses needing expansion capital or equipment loans
    • High-growth startups seeking venture debt financing to extend runway between equity rounds

    Types of Debt Financing Offered via 50KLoans

    50KLoans helps users explore different types of debt financing through its streamlined platform:

    • Real Estate Debt Financing – Funding for residential, commercial, or fix-and-flip property purchases.
    • Venture Debt Financing – Designed for startups with venture backing, without giving up more equity.
    • Short-Term Loans – Quick funding for temporary cash flow issues.
    • Installment Business Loans – Fixed monthly repayment plans from 6 to 60 months.
    • Line of Credit – Flexible access to revolving funds for ongoing operational needs.

    Check Your Eligibility for Debt Financing >>

    Advantages and Disadvantages of Debt Financing

    Before applying, it’s crucial to understand the advantages and disadvantages of debt financing:

    Advantages:

    • Retain full business ownership
    • Tax-deductible interest payments
    • Fixed repayment terms provide financial clarity

    Disadvantages:

    • Requires consistent cash flow for repayment
    • Missed payments can impact credit or lead to collateral loss

    Real Estate and Commercial Debt Financing Options

    With the surge in property investments and developments, commercial real estate debt financing has become a major segment. 50KLoans helps users connect with lenders for:

    • Fix-and-flip loans
    • Multi-family and commercial property loans
    • Bridge financing for property transitions

    How to Apply for Debt Financing with 50KLoans

    1. Visit 50KLoans and select the “Debt Financing” option from the homepage.
    2. Complete a short 2-minute application with basic business or personal financial details, no credit check required.
    3. Get instantly matched with trusted lenders offering various types of debt financing, including real estate and venture debt financing.
    4. Compare personalized loan offers, repayment terms, and interest rates—all in one place.
    5. Select the best offer for your needs and receive funds, often within 24 hours of approval.

    FAQs

    What is debt financing and how does it differ from equity?
    Debt financing means borrowing money with a promise to repay, while equity financing involves selling shares in your company.

    Is real estate debt financing available nationwide?
    Yes, applicants across the USA can access real estate loans through partnered lenders.

    Are there risks to debt financing?
    Like any loan, repayment is mandatory. It’s important to assess your repayment capacity before applying.

    Media Contact:
    Mukesh Bhardwaj
    Email: mukesh@paydayventures.com

    Disclaimer: 50KLoans is not a lender and does not make credit decisions. Loan approvals, rates, and terms are set by third-party lenders based on individual eligibility and underwriting criteria.

    The MIL Network –

  • MIL-OSI United Kingdom: Young People Encouraged to be Career Ready

    Source: Scotland – City of Dundee

    09/07/25

    Dundee City Council is continuing to support the Career Ready initiative by giving young people paid internships to help them experience the potential work opportunities in a local authority.  

    Over four weeks this summer, seven senior secondary pupils are experiencing different aspects of services during their internships across council and Leisure & Culture Dundee teams.  

    The young people are benefiting from one-to-one support and guidance from a volunteer council mentor over the 17-month total period of the programme.  

    In addition to the work experience itself the students benefited from their involvement in several other joint activities. The students are gaining certification for attending a life-saving training course provided by Heartstart Discovery. They also accompanied city centre ambassadors to see their work behind the scenes and were also given a tour of the City Chambers and met the Lord Provost. 

    Young people taking part in 2025 are: 

    • Alesha Robertson, Craigie High School, wants to become a primary school teacher. She is undertaking a varied internship at Craigiebarns Primary School and Claypotts Castle Early Years Centre, both of which have provided her with hands-on experience of working with young children. She is also keen to find out what it would be like to work in a business setting and spent time with the Tay Cities Region Deal team.  

    • Charley Byrne, Baldragon Academy, is being mentored by the Customer Services & Benefit Delivery Team. Charley is interested in finance and economics, and it is her intention to apply for a relevant university course in this subject area when she leaves school. 

    • Georgia Locke, St Paul’s RC Academy, is receiving an insight into the variety of services offered to the citizens of Dundee during her 4-week internship with the Customer Services, Council Tax & Benefit Delivery team. She gained skills in teamwork, communication and resilience. 

    • Dominic Nelson, Harris Academy, is working with Community Learning & Development. He focused on digital projects and is also worked in the cafe at Douglas Community Centre which is providing him with additional skills supporting a larger team to deliver a customer service at a fast pace. 

    • Ellis Milne, Braeview Academy, would like to pursue a career in child psychology. She is working with the Learning & Organisational Development team as well as the Tay Cities Region Deal team. This varied internship will help Ellis to develop further her skills in communication and teamwork and provide her with some valuable insight to working in a business environment. 

    • Lohgan Ramsay, Braeview Academy, is being mentored by Leisure & Culture Dundee. Lohgan is keen to explore a career with children who have additional support needs. Her internship is being carried out at Kingspark School and Ballumbie Early Years Centre, where she is gaining an understanding of the variety of roles in the different settings. 

    • Lucas McKenzie, Morgan Academy, is working worked with the Employability Service. Lucas is gaining skills and experience which will help him when he leaves school. These included communication, teamwork, I.T. skills and business partnering. 

    The internships will culminate in the young people providing a presentation, which gives them an opportunity for them to speak about their experience to a number of interested parties such as Mhairi Prendergast, the Career Ready Regional Manager, their school coordinator, their mentors and workplace supervisors. 

    Fair Work, Economic Growth and Infrastructure depute convener Cllr Siobhan Tolland said: “As an employer trying to encourage opportunities for young people, it is important that the council supports the Career Ready initiative.  

    “This gives them invaluable insights into the work of the council, lets them understand what qualifications they will need and arms them with skills that will help in writing CVs and for interviews.]

    “I wish them all well for their future and hope that their time being mentored in the council will inspire them to achieve their goals.”  

    Council leader sends message of condolences

    Council leader sends message of condolences

    Dundee City Council Leader Cllr Mark Flynn has expressed his heartfelt condolences to the family and friends of Dr Fortune Gomo following the recent news of her death in the city.Council Leader Cllr…

    07/07/25

    Dundee Gift Card to Power Local Spending Across the City

    Dundee Gift Card to Power Local Spending Across the City

    A new local gift card has been backed to lead a renewed push to keep more spending local, secure jobs and support businesses across the city.The Dundee Gift Card has relaunched today (Friday 4 July)…

    04/07/25

    MIL OSI United Kingdom –

  • Indian Navy inducts ‘Nistar’, first indigenous diving support vessel

    Source: Government of India

    Source: Government of India (4)

    The Indian Navy on Tuesday marked the induction of its first indigenously designed and built Diving Support Vessel (DSV), Nistar. The vessel was formally handed over by Hindustan Shipyard Limited during a ceremony held in Visakhapatnam.

    Built in accordance with the classification rules of the Indian Register of Shipping (IRS), Nistar is a highly specialized warship equipped to conduct Deep Sea Diving and Rescue Operations—an advanced capability possessed by only a select few navies globally.

    The name Nistar, derived from Sanskrit, means liberation, rescue, or salvation. The ship stretches 118 meters in length and displaces nearly 10,000 tons. Designed with cutting-edge diving equipment, Nistar can perform deep sea saturation diving operations up to a depth of 300 meters. Additionally, it features a side diving stage that supports diving missions up to 75 meters deep.

    One of the ship’s critical roles will be to act as the “Mother Ship” for the Deep Submergence Rescue Vessel (DSRV), which is responsible for rescuing and evacuating personnel in case of a submarine emergency. The vessel is also equipped with advanced Remotely Operated Vehicles (ROVs), allowing diver monitoring and salvage operations up to 1000 meters below sea level.

    With approximately 75% indigenous content, the successful delivery of Nistar marks a notable achievement in the Indian Navy’s journey towards self-reliance in defence manufacturing.

  • MIL-OSI Africa: SARS gets largest chunk of Treasury Budget transfers

    Source: Government of South Africa

    SARS gets largest chunk of Treasury Budget transfers

    National Treasury has been allocated R91.835 billion over the medium-term, with the South African Revenue Service (SARS) receiving the largest component of the transfers.

    Tabling National Treasury’s Budget Vote in Parliament, Finance Minister Enoch Godongwana said the department’s budget (excluding direct charges) over the medium-term is R91.835 billion, which is an average growth rate of 6.2% from 2024/25 – 2027/28.

    “The largest component is for transfers to SARS, which is allocated R45.760 billion (or 49.8%) of the department’s budget for operations and capital projects over the medium-term.

    “This is an increase of R8 billion of the SARS baseline compared to the 2024 Estimate of Expenditure. Part of this increase is to improve effectiveness in revenue collection by enhancing their ability to collect debt through better systems, increasing staff capacity and modernising their processes to establish e-invoicing for VAT, instant payment systems and upgrades of customs infrastructure,” Godongwana said on Tuesday.

    Last week, National Treasury published monthly debt collection data from SARS for the first time to monitor progress and improve transparency.

    The budget allocation per economic classification over the medium-term is as follows:

    • R3.422 billion on compensation of employees;
    • R6.983 billion on goods and services;
    • R78.554 billion on transfers and subsidies;
    • R89 million on payment of capital assets, and
    • and R2.786 billion on payment for financial assets.

    Sustainable public finances

    National Treasury’s Annual Performance Plan 2025/26 sets out clear and ambitious programmes to realise its goals of job creation, lowering poverty and greater inclusion. 

    “In terms of restoring sustainability and the impact of our public finances, a review of how the government spends money has been central to our policy efforts. To achieve all of our national priorities we need to realise much greater efficiencies on the spending side,” the Minister said.

    As such there are new reviews that government plans to conduct, namely:

    • An audit of ghost workers in the public service using a data-driven approach that links administrative and financial databases to identify bogus and non-existent employees and immediately remove them from the system.
    • An infrastructure conditional grant review. This will assess why provinces and municipalities underspend, why projects are not delivered on time and within budget, and where relevant, why the quality of the deliverables is poor; and
    • A review of the remuneration of executives and board members of public entities. The aim is to develop a standardised framework for all schedule three public entities, based on their mandates, areas of influence, and the complexity of a given organisation.

    Financial Action Task Force grey list

    With South Africa completing all 22 recommended action items outlined by the Financial Action Task Force (FATF), the Minister stressed that the country must continue to strengthen the laws to fight illicit and corrupt financing.

    “Lastly, I am happy to say that our endeavors, not just the National Treasury’s but the government’s as a whole, to remove South Africa from the Financial Action Task Force grey list, are succeeding,” he said.

    South Africa was placed on the FATF grey list due to deficiencies in its anti-money laundering and counter-terrorism financing (AML/CFT) regime.

    The FATF recently confirmed that South Africa has substantially completed its action plan and warrants an on-site assessment. 

    The on-site assessment will be to verify that the implementation of AML/CFT reforms has begun and is being sustained, and that the necessary political commitment remains in place to sustain implementation in the future.

    The on-site visit will take place before the next FATF Plenary, and, if the outcome of the visit is positive, the FATF will delist South Africa from the greylist at its next Plenary in October 2025. Preparations for the on-site visit have commenced.

    “A General Laws Anti-Money Laundering and Combating Terrorism Financing Bill, to further improve our ability to combat money laundering, terrorism financing and proliferation financing, is being finalised for another round of public comment, and tabling in Parliament in the third quarter of 2025.

    “Similarly, the National Treasury has made substantial progress implementing the State Capture Commission recommendations through multiple concrete actions. SARS investigations have recovered R4.8 billion in unpaid taxes, while professional bodies like the South African Institute of Chartered Accountants (SAICA) have imposed consequence management including disbarment,” the Minister said.

    The Financial Intelligence Centre launched the ‘Enablers Project’ with law enforcement to trace state capture fund flows, and a 10-year ban was imposed on Bain & Co (currently under litigation).

    “Critically, a central register now tracks dismissed officials and those who have resigned during their disciplinary processes across all government spheres,” Godongwana said. – SAnews.gov.za

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    MIL OSI Africa –

  • MIL-OSI Africa: SARS extends due date for filing EMP201

    Source: Government of South Africa

    SARS extends due date for filing EMP201

    South African Revenue Service (SARS) Commissioner, Edward Kieswetter, has extended the due date for EMP201 filing and payment to 14 July 2025.

    EMP201 is a tax return that is submitted by an employer to SARS on a monthly basis.

    The extension was granted following the higher than expected volumes that were experienced on Monday which caused SARS systems to take longer to respond than expected. 

    “We recognise that some employers experienced delays in submitting their monthly EMP201’s and as a result we will consider not imposing penalties and interest in relation to employers who would otherwise have been compliant.

    “This process of payment is governed by paragraphs 2(1) and 14(2) of the Fourth Schedule to the Income Tax Act 58 of 1962, which provides for the payment of Pay As You Earn (PAYE), Unemployment Insurance Fund (UIF) and Skills Development Levy (SDL), and the submission of the EMP201 form within a period of seven days after the end of the month during which the amounts that were withheld from remuneration paid to employees,” SARS said.

    In terms of section 3 of the Income Tax Act, the Commissioner for SARS has the discretionary power to extend the respective due dates. 

    “In the exercise of that discretionary authority, SARS Commissioner has extended the due date for filing and payment be extended to Monday, 14 July 2025.

    “The practical implication of this decision is that SARS will not impose penalties and interest in relation to employers who would otherwise have been compliant. Taxpayers are encouraged to submit their EMP201 returns before 14 July to avoid late penalties,” the revenue service said. – SAnews.gov.za

    nosihle

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: LCQ10: Home ownership by public

    Source: Hong Kong Government special administrative region

    (2) whether it has compiled statistics for each year over the past 10 years on the median monthly income and the median value of monthly mortgage repayment of local owner-occupied households; if so, of the details; if not, the reasons for that;

    (3) as there are views that home ownership can enhance people’s sense of belonging to community and foster strong work values, but according to a research brief published by the Legislative Council Secretariat in March 2021 and data from the Census and Statistics Department, the overall local home ownership rate and the home ownership rate among young people aged below 35 have both declined in recent years, whether the authorities will consider setting a home ownership rate afresh in LTHS in the future; if not, of the reasons for that; and 
    Reply:
     
    President,
     
         Hong Kong’s housing policy has all along been an important cornerstone of social development. The current-term Government put in place measures to enhance quantity, speed, efficiency and quality in land production. With our unremitting efforts in the past three years, the problem of back-loaded public housing supply (including public rental housing (PRH) and subsidised sale flats (SSF)) has completely turned around. Coupled with Light Public Housing (LPH), the total public housing supply (including also PRH and SSF) in the coming five years (i.e. 2025-26 to 2029-30) will reach 197 000 units, which is a significant increase of 85 per cent as compared with the first five year period since the current-term Government took office (i.e. 2022-23 to 2026-27). In addition, we have successfully capped the waiting time for PRH, which has reduced from the peak of 6.1 years to 5.3 years. The oversubscription rate of Home Ownership Scheme (HOS) has also dropped from the peak of 62 times in HOS 2019 to 14 times in HOS 2024. Looking ahead, with the completion of various public housing (including PRH and SSF) as well as LPH projects, the Composite Waiting Time for Subsidised Rental Housing will gradually decline. Therefore, we have more confidence to provide more SSF to further meet the home ownership aspiration of the public.
     
         Currently, about half of the households are residing in accommodations that they own. For most people, buying a property is a major life decision involving many considerations, such as family and childbearing plans as well as the pursuit of a more independent and modern lifestyle, etc. For low- to middle-income persons who cannot afford private housing, SSF is a very suitable first step in realising their dream of home ownership. In this regard, we have all along been striving to enhance the housing ladder through the provision of various types of SSF in response to the home ownership aspiration of households with different income and encourage citizens from all walks of life to move up the social ladder according to their abilities.
     
         In consultation with the Financial Services and the Treasury Bureau and the Census and Statistics Department (C&SD), our reply to the questions raised by Dr the Hon Wendy Hong is as follows:
     
    (1) and (2) Results of the 2016 Population By-census and the 2021 Population Census conducted by C&SD provide statistics regarding home ownership and related demographic and socio-economic characteristics of Hong Kong’s domestic households in the past decade. The number of owner-occupier domestic households by age group of household head and type of housing are listed in Annex 1. Over the past five years, the number of owner-occupier households and households owning SSF increased by over 80 000 and nearly 30 000 respectively, representing growth rates of 6 per cent and 7 per cent. This reflects a rising trend of homeownership among families. The median monthly income and the median mortgage payment and loan repayment of owner-occupier domestic households are listed in Annex 2.
     
         It is worth noting that between 2016 and 2021, only an average of about 4 200 flats were put up for sale under each HOS sale exercise, and the oversubscription rate was as high as about 43 times on average. However, the current-term Government is very determined to tackle the housing problem in Hong Kong. As a result, in the coming five years (i.e. 2025-26 to 2029-30), in addition to PRH/Green Form Subsidised Home Ownership Scheme (GSH) flats, the Hong Kong Housing Authority (HA) and the Hong Kong Housing Society (HS) will have a completion of about 56 500 SSF, averaging about 11 000 units annually. This is 2.6 times of the annual output before the current-term Government took office.
     
    (3) and (4) As stated above, the current-term Government is very determined to resolve housing problem in Hong Kong and we also care about our young people. Therefore, we have introduced a number of policy measures to assist citizens (especially young people) in realising their home ownership aspiration through various aspects, such as supply, allocation and financial arrangements. Since the current-term Government took office, more than 33 000 applicants have purchased SSF, and the difficulties faced by low- and middle-income families in acquiring their own properties over the past decade or so have been clearly reversed by the concerted efforts of the various teams of the current-term Government in providing more land and housing. With the increasing supply of SSF in the coming years, more residents will experience the happiness and sense of fulfillment brought by homeownership over the next decade, enabling more families to settle securely and thrive in our city.
     
         In addition, in terms of supply, the Chief Executive announced in the 2024 Policy Address that the HA would adjust the ratio between PRH (including GSH units) and SSF to gradually adjust the ratio from 7:3 to 6:4 in order to increase the supply of SSF. In the next five years (i.e. 2025-26 to 2029-30), the HA and the HS will complete about 56 500 SSF. As stated above, we believe that a continuous and stable supply of SSF led by the Government is conducive to the upward mobility along the housing ladder and it will help those in need realise their dream of owning a home according to their respective needs and abilities.
     
         At the same time, we have also proposed a series of policy measures to meet the housing needs and demands of different citizens, including revising the ratio between Green Form and White Form in respect of HOS flats from the current 4:6 to 5:5 so as to allow more PRH tenants who would like to purchase HOS flats to move upwards; and increasing the chance of young people and applicants who have made repeated attempts to purchase SSF by optimising the sales arrangements.
     
         Starting from HOS 2024, the HA has implemented the Families with Newborns Flat Selection Priority Scheme which was announced in the 2023 Policy Address. A quota of about 40 per cent of the new flats for sale (i.e. 2 900 flats) under HOS 2024 were set aside for eligible applicants under the Families with Newborns Flat Selection Priority Scheme and the Priority Scheme for Families with Elderly Members for balloting and priority flat selection. During the application period of HOS 2024, the HA received a total of around 106 000 applications. Among them, around 50 000 came from family applicants, in which around 19 000 applied under the Priority Scheme for Families with Elderly Members and Families with Newborns Flat Selection Priority Scheme, representing around 40 per cent of family applicants. If eligible families applying under the Families with Newborns Flat Selection Priority Scheme fail to purchase a flat under HOS 2024, they may still apply under the Scheme for priority flat selection as long as their children are aged three or below on the closing day of the application of subsequent SSF sale exercises. In addition, following GSH 2024, the HA will allocate an extra ballot number to applicants who had failed to purchase a flat in the last two consecutive sale exercises starting from the next HOS exercise, so as to increase their chances of success in purchasing SSF. Based on the figures of HOS 2024, assuming all factors remain constant (including the number of applicants, their age, etc), the success rate of eligible families applying under the of Families with Newborns Flat Selection Priority Scheme in purchasing a flat will increase by about 60 per cent, after obtaining an extra ballot number.
     
         The HA has also been assisting low- to middle-income families in purchasing homes through pricing and financial arrangements. First of all, the Government revised the pricing mechanism of SSF in 2018. The pricing of SSF is calculated on the basis of applicants’ affordability, which is delinked from the private housing market. Under the current pricing mechanism, at least 75 per cent of the flats for sale can allow non-owner occupier households earning the median monthly household income to spend no more than 40 per cent of their monthly income on mortgage payment. Based on affordability calculations, the selling prices of the flats offered under latest GSH and HOS sale exercises were set at 60 per cent and 70 per cent of their assessed market value respectively.
     
         On top of this, the HA relaxed mortgage arrangements for SSF in 2024, including extending the maximum mortgage default guarantee from 30 years to 50 years and extending the maximum mortgage repayment period from 25 years to 30 years to enable purchasers of first-hand and second-hand SSF to obtain mortgage loans from banks and authorised financial institutions participating in the provision of mortgage loans for such flats. After the implementation of relevant arrangements, the number of HOS/GSH flats with a residual guarantee period of more than 10 years increased substantially from about 14 per cent to about 98 per cent. As at May 2025, the average number of transactions of second-hand SSF was about 360 per month, which was about 60 per cent higher than the average number of transactions of about 230 per month in the 12 months before the implementation. Besides, after extending the maximum mortgage repayment period for flats sold under the secondary market from 25 years to 30 years, among buyers who applied for mortgages to purchase SSF in the secondary market, more than half of the cases have a repayment period of 25 years or more. This shows that the above measures have successfully revitalised the secondary market and facilitated the turnover of SSF in the secondary market.
     
         For the secondary market, starting from White Form Secondary Market Scheme (WSM) 2024, the HA has also significantly increased the quota by 1 500 to 6 000, all of which will be allocated to young family applicants and one-person applicants aged below 40. Of all the applications for WSM 2024, more than 80 per cent (i.e. about 28 000 applications) were from young applicants who chose to participate in Youth Scheme (WSM), reflecting that the scheme is well received by young people.
     
         In addition, the Government also responds to the home ownership aspirations of higher-income persons who are not eligible for the HOS and yet cannot afford private housing through Starter Homes for Hong Kong Residents (SH) projects. Apart from the first two SH projects offered for sale by the Urban Renewal Authority (i.e. eResidence Towers 1 and 2, as well as eResidence Tower 3) with a total of over 600 SH units sold, the Government is also taking forward a few other SH projects, which will provide a total of around 5 000 SH units from the next few years onwards. Amongst applicants and final purchasers of SH units offered for sale in the past, around 85 per cent were youth aged 40 or below. We believe that this initiative may help another batch of youngsters from the middle class with higher income yet still cannot afford private housing achieve home ownership with more available options.
     
         Having regard to changes in the overall situation of the property market, the current-term Government has since February 2024 abolished all demand-side management measures for residential properties. The Hong Kong Monetary Authority has also since October 2024 adjusted the countercyclical macroprudential measures for property mortgage loans. The maximum loan-to-value (LTV) ratio and debt servicing ratio (DSR) limit were reverted to the pre-2009 levels before the countercyclical macroprudential measures were first introduced, with the maximum LTV ratio for all residential properties adjusted to 70 per cent, regardless of the value of the property, and the DSR limit adjusted to 50 per cent, providing facilitation to persons with different needs for property purchase. Individuals may also obtain high LTV ratio mortgage loans through the Mortgage Insurance Programme according to their own needs. In particular, for first-time homebuyers with regular income purchasing properties priced at $10 million or below, the LTV ratio can be up to 90 per cent, which greatly reduces their down payment burden.
     
         Furthermore, to ease the burden on buyers of properties at lower values, the Government has since 26 February 2025 adjusted the value bands of Ad Valorem Stamp Duty payable for sale and purchase or transfer of residential and non-residential properties, raising the maximum value of properties chargeable to $100 stamp duty from $3 million and $4 million, facilitating those who wish to purchase flats. As most SSF units are priced below $4 million, buyers may benefit from the aforementioned reduction in stamp duty to $100, with savings up to over $59 000. According to the information from the Inland Revenue Department, there were 3 780 duly stamped sale and purchase agreements for residential properties valued between $3 million and $4 million from March to May 2025, which represents a significant increase of over 70 per cent as compared to the same period last year (March to May 2024) where 2 183 sale and purchase agreements were duly stamped.
     
         We will continue to review whether there is room to optimise various relevant arrangements having regard to factors including developments of the property market, the home ownership needs of different citizens, etc.

    MIL OSI Asia Pacific News –

  • Broadband subscribers in India cross 944 million, up 2.17% in FY 25: TRAI

    Source: Government of India

    Source: Government of India (4)

    The number of broadband subscribers rose to 944.12 million in India, the Telecom Regulatory Authority of India (TRAI) data showed on Tuesday.

    TRAI released its “Indian Telecom Services – Yearly Performance Indicators Report” for 2024–25, offering a detailed overview of India’s telecom and broadcasting sectors from April 1, 2024, to March 31, 2025.

    India’s internet subscribers rose to 969.10 million from 954.40 million at the end of March 2025, the Ministry of Communications said in a statement. Broadband connections accounted for 944.12 million, registering a 2.17% growth, while narrowband users declined sharply by 17.66% to 24.98 million.

    Mobile Average Revenue Per User (ARPU) saw a notable increase of 16.89%, rising from ₹149.25 to Rs 174.46. Prepaid ARPU rose, while postpaid ARPU marginally declined.

    Total wireless data usage jumped 17.46% to 2,28,779 Petabytes (PB), and data revenue grew 15.49% to Rs 2.15 lakh crore. The number of wireless data users also rose to 939.51 million.

    India’s total telephone subscriber base grew marginally by 0.13% to 1,200.80 million. However, overall teledensity slipped from 85.69% to 85.04%. While urban subscriptions increased slightly, urban teledensity declined by 1.70%. Rural subscriptions also rose, but rural teledensity saw a minor dip.

    Wireless subscribers fell by 0.73%, with a net loss of 8.5 million users. Wireline connections, however, surged by 9.62% to 37.04 million, boosting wireline teledensity from 2.41% to 2.62%.

    The sector’s Gross Revenue (GR) grew by 10.72% to Rs 3.72 lakh crore, while Adjusted Gross Revenue (AGR) rose 12.02% to Rs 3.03 lakh crore. Spectrum Usage Charges and license fees also recorded significant increases.

    In the broadcasting sector, India had 918 permitted private satellite TV channels as of March 2025, with 333 pay channels (232 SD and 101 HD). Pay DTH subscribers declined to 56.92 million, down from 61.97 million the previous year.

    There were 388 operational private FM radio stations across 113 cities, operated by 33 broadcasters after a recent merger. Community Radio Stations also saw growth, increasing from 494 to 531.

    The full report is available on TRAI’s website (www.trai.gov.in).

  • India’s internet subscribers cross 969 million in FY25, driven by broadband growth: TRAI

    Source: Government of India

    Source: Government of India (4)

    India’s internet subscriber base grew by 1.54% in the financial year 2024–25, rising from 954.40 million in March 2024 to 969.10 million in March 2025, according to data released by the Telecom Regulatory Authority of India (TRAI) on Tuesday.

    The growth was primarily driven by an increase in broadband subscribers, which rose from 924.07 million to 944.12 million, marking a 2.17% year-on-year gain.

    In contrast, narrowband subscriptions declined by 17.66%, falling from 30.34 million to 24.98 million during the same period.

    The report, titled Indian Telecom Services – Yearly Performance Indicators, also noted a 16.89% increase in mobile Average Revenue Per User (ARPU), which climbed from ₹149.25 to ₹174.46. While prepaid ARPU saw a notable rise, postpaid ARPU recorded a slight decline.

    Total wireless data usage jumped 17.46% to 2,28,779 Petabytes (PB), and data revenue grew 15.49% to Rs 2.15 lakh crore. The number of wireless data users also rose to 939.51 million.

    India’s total telephone subscriber base grew marginally by 0.13% to 1,200.80 million. However, overall teledensity slipped from 85.69% to 85.04%. While urban subscriptions increased slightly, urban teledensity declined by 1.70%. Rural subscriptions also rose, but rural teledensity saw a minor dip.

    Wireless subscribers fell by 0.73%, with a net loss of 8.5 million users. Wireline connections, however, surged by 9.62% to 37.04 million, boosting wireline teledensity from 2.41% to 2.62%.

    The sector’s Gross Revenue (GR) grew by 10.72% to Rs 3.72 lakh crore, while Adjusted Gross Revenue (AGR) rose 12.02% to Rs 3.03 lakh crore. Spectrum Usage Charges and license fees also recorded significant increases.

    In the broadcasting sector, India had 918 permitted private satellite TV channels as of March 2025, with 333 pay channels (232 SD and 101 HD). Pay DTH subscribers declined to 56.92 million, down from 61.97 million the previous year.

    There were 388 operational private FM radio stations across 113 cities, operated by 33 broadcasters after a recent merger. Community Radio Stations also saw growth, increasing from 494 to 531.

    The full report is available on TRAI’s website (www.trai.gov.in).

     

  • India set to explore over 2.5 lakh sq km in one of the largest offshore energy efforts

    Source: Government of India

    Source: Government of India (4)

    In one of the world’s largest offshore energy exploration initiatives, India is set to explore more than 2.5 lakh square kilometres under the Open Acreage Licensing Programme (OALP) Round X, Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Wednesday.

    “We are ready to enter a new era of energy… In the field of oil and gas exploration and production, there are no longer obstacles, only possibilities,” the minister said in a post on X.

    Hardeep Singh Puri is currently attending a meeting of the Offshore Energy Cluster in Bergen, Norway.

    “The bold decision taken by Prime Minister Narendra Modi on the ‘no-go’ area is not only strengthening the country’s energy security but also preparing India to lead a major transformation in the energy sector,” he added.

    The Union Minister also met Kristian Sorensen, CEO of BW LPG, the world’s leading owner and operator of LPG vessels, which owns and operates Very Large Gas Carriers (VLGCs) with a total carrying capacity of over 4 million CBM.

    “The company is among the leaders in LPG shipping, accounting for 20 per cent of LPG imports into India. During our meeting in Oslo, we discussed ways to further strengthen the collaboration between BW LPG and Indian energy companies,” Puri said.

    Meanwhile, the oil and gas blocks being offered under the OALP have already attracted interest from both global and domestic energy players. Round X is expected to set new benchmarks for participation and investment.

    The Petroleum Ministry has also invited feedback and suggestions on the Draft Petroleum and Natural Gas Rules, the Model Revenue Sharing Contract (MRSC), and the Petroleum Lease by July 17, 2025, as part of India’s push to accelerate the oil and gas sector.

    Hardeep Puri is scheduled to engage with ministers, officials and industry leaders at ‘Urja Varta 2025’ at Bharat Mandapam on July 17, ahead of India’s Round X of exploration and production bidding for oil and gas blocks, which is among the largest globally.

    —IANS

  • India and Brazil reaffirm strategic partnership with roadmap for next decade

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi paid a State Visit to Brazil on Tuesday at the invitation of President Luiz Inácio Lula da Silva, with both leaders pledging to deepen ties across a wide range of strategic areas.

    In a joint statement, the two nations reaffirmed their commitment to bolster the India-Brazil Strategic Partnership, describing their shared vision as rooted in common values and aimed at advancing peace, prosperity and sustainable development.

    Defence and Security

    PM Modi and President Lula welcomed growing military collaboration, including joint exercises and senior‐level visits. They noted the recent Agreement on the Exchange and Mutual Protection of Classified Information, and established a Bilateral Cybersecurity Dialogue to share expertise on cyber threats. Both condemned the Pahalgam terror attack and voiced Brazil’s solidarity with India. They condemned all forms of terrorism and agreed to deepen action against UN-designated groups such as Lashkar-e-Tayyiba and Jaish-e-Mohammad, including measures at the UN and FATF. An agreement to combat international terrorism and organized crime was also signed, and both leaders pledged support for the UN Convention on Cybercrime at its signing in Hanoi next year.

    They called for UN Security Council reform, backing expansion in permanent and non-permanent seats with fair representation for Asia, Africa and Latin America. Brazil reaffirmed support for India’s bid for a non-permanent Council seat in 2028–29, while India endorsed Brazil’s aspiration for permanent membership. The two urged a UN Charter review conference in 2025, marking the Organization’s 80th anniversary.

    On Middle East peace, both leaders urged a return to diplomacy, endorsing a two-state solution alongside safe humanitarian access in Gaza and backing UNRWA’s mandate. They also called for renewed dialogue to end hostilities in Ukraine.

    Food and Nutritional Security

    As leading agricultural producers, India and Brazil agreed to advance sustainable farming, fair trade and public stockholding for food security. They reaffirmed the goal of eradicating hunger by 2030 and pledged support for the Global Alliance Against Hunger and Poverty. Joint research on crop productivity, animal genetics and biotechnology will be encouraged through collaboration between national R&D bodies.

    Energy Transition and Climate Action

    The leaders underscored strong collaboration on bioenergy and biofuels, reaffirming their commitment to the Global Biofuels Alliance and exploring sustainable aviation fuel. PM Modi welcomed Brazil’s ‘Tropical Forests Forever Fund’ and India confirmed its support for Brazil’s presidency of COP30 in Belém next year.

    Both sides agreed to step up collaboration on climate finance, sustainable development, and a stronger, fairer international financial system, while urging developed countries to meet their Official Development Assistance commitments.

    Digital Cooperation and Emerging Tech

    Acknowledging the transformative potential of digital public infrastructure, artificial intelligence, and quantum technologies, the two countries signed an MoU to deepen cooperation. India and Brazil pledged to work together on global digital governance and boost direct ties between their innovation ecosystems.

    Industrial Partnerships

    Both leaders noted growing bilateral investment flows and agreed to streamline visa processes to boost business and tourism. They invited closer ties in pharmaceuticals- highlighting Indian API firms in Brazil-aviation, defence equipment, mining, and oil and gas, including carbon capture technologies. A ministerial Commerce and Trade Review Mechanism will oversee the implementation of the 2020 Bilateral Investment Cooperation and Facilitation Treaty and the 2022 Double Taxation Protocol.

  • MIL-OSI Australia: Deductible gift recipient reforms

    Source: New places to play in Gungahlin

    Why DGR reforms were made

    The government has announced several reforms to the administration and oversight of organisations with deductible gift recipient (DGR) status.

    These changes are designed to:

    • strengthen governance arrangements
    • reduce administrative complexity
    • ensure continued trust and confidence in the not-for-profit sector.

    DGRs to be registered as a charity

    On 13 September 2021, the Treasury Laws Amendment (2021 Measures No. 2) Act 2021External Link became law.

    As a precondition for DGR endorsement, this Act amends the Income Tax Assessment Act 1997 to require a fund, authority or institution to be either:

    • a registered charity
    • an Australian Government agency
    • operated by a registered charity or an Australian Government agency.

    Before the amendments, a majority of DGR categories required non-government organisations to be registered as charities. The amendments extended this requirement to 11 general DGR categories. This measure doesn’t apply to ancillary funds or DGRs specifically listed in the tax law.

    For more information, see:

    DGR registers reform

    On 28 June 2023, the Treasury Laws Amendment (Refining and Improving our Tax System) Act 2023 became law.

    This Act amends the Income Tax Assessment Act 1997 to transfer administrative responsibility of 4 unique DGR categories from other government departments to the ATO.

    These changes started on 1 January 2024 and repealed provisions that required each of the 4 departments to maintain a separate register.

    From 1 January 2024, transitional provisions apply to those organisations that were already DGR endorsed in one of the 4 unique DGR categories before 1 January 2024. These organisations remain endorsed if they continue to meet eligibility criteria.

    Transitional provisions also apply to those organisations that had an in-progress application with one of the 4 government departments before 1 January 2024. These applications were transferred to us from 1 January 2024.

    For more information, see DGR registers reform transitional provisions.

    Before the transition

    Before 1 January 2024, the 4 unique DGR categories were administered by other Australian Government departments as follows:

    • Register of Cultural Organisations – Department of Infrastructure, Transport, Regional Development, Communications and the Arts
    • Register of Environmental Organisations – Department of Climate Change, Energy, the Environment and Water
    • Register of Harm Prevention Charities – Department of Social Services
    • Overseas Aid Gift Deductibility Scheme – Department of Foreign Affairs and Trade.

    After the transition

    From 1 January 2024, the ATO started assessing eligibility for DGR endorsement for:

    These changes mean we now administer all 52 DGR categories set out in Division 30 of the Income Tax Assessment Act 1997.

    For more information on the transition, see:

    On 28 June 2024, the Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Act 2024External Link became law.

    This Act amends the Income Tax Assessment Act 1997 and Taxation Administration Act 1953 to establish:

    • 2 new general DGR categories for
      • community charity trust
      • community charity corporations
    • a requirement for a Treasury Minister to formulate guidelines for the 2 new DGR categories.

    These amendments started on 29 June 2024.

    To be eligible for DGR endorsement as a community charity trust or corporation, a trust or company must, among other requirements, be specified in a ministerial declaration in force. Entities seeking to be specified in a ministerial declaration should contact Treasury at dgr@treasury.gov.au.

    Guidelines

    Treasury opened public consultation on the exposure draft guidelines and accompanying explanatory material on 5 November 2024. The consultation period ended on 3 December 2024. You can refer to the outcomes of Treasury’s consultation at Building Community – ministerial guidelines for community foundationsExternal Link.

    The finalised guidelines were registered on 24 February 2025 and are accessible on the Federal Register of Legislation websiteExternal Link.

    Background

    Originally announced by the previous government in the Budget March 2022–23 – Budget Paper No. 2: Budget MeasuresExternal Link, it was proposed that the tax law be amended to specifically list up to 28 community foundations affiliated with the peak body Community Foundations Australia. The specific listing would be time-limited for 5 years, from 1 July 2022 to 30 June 2027.

    A refined model was proposed in the Budget 2023–24– Budget Paper No. 2: Budget MeasuresExternal Link which includes:

    • the removal of the 5-year time limit requirement
    • DGR endorsement by the Commissioner of Taxation under new ministerial guidelines.

    More information

    For more information, see:

    Subscribe to our newsletter for updates

    Subscribe to our monthly not-for-profit newsletter to keep up-to-date with:

    • our new and refreshed guidance
    • the progress of the proposed amendments
    • how to meet your not-for-profit’s tax and super obligations.

    MIL OSI News –

  • MIL-OSI Asia-Pac: Fun Food Taiwan 2.0: Let the FUN Begin! 2025 Fun Food Taiwan Awards Ceremony Grandly Held at Taipei International Food Show

    Source: Republic of China Taiwan

    The 2025 Fun Food Taiwan Awards Ceremony, hosted by the Industrial Development Administration (IDA), Ministry of Economic Affairs (MOEA), and organized by the Food Industry Research and Development Institute (FIRDI), took place on June 25 at the 7th floor of Hall 2, Nangang Exhibition Center, in conjunction with the Taipei International Food Show. The grand event drew enthusiastic participation from industry, government, academia, and media representatives.

    During the ceremony, Secretary-General Mr. Kuo-Hsuan Chen of the Industrial Development Administration (IDA), MOEA, emphasized the vitality of innovation and transformation displayed by Taiwan’s food industry. The awarded entries reflect major trends, including health-focused processing, environmental sustainability, innovative packaging, the use of local ingredients, and lively demonstrating the diversity and competitiveness of Taiwan’s food industry. He expressed confidence that this award will serve as a launching point for enterprises to pursue excellence and strengthen their brands, opening up broader opportunities for Taiwan’s quality food products in global markets. IDA pledged continued collaboration across sectors to guide Taiwan’s food industry toward greater value creation, intelligence, and sustainability-allowing Taiwan’s food brands to shine internationally.

    Launched in 2020, “Fun Food Taiwan” has focused on value-driven food innovation and international connections. Entering its 2.0 phase in 2025, the program introduces three new evaluation pillars: Evolution, Decarbonization, and Experience, supporting food companies in enhancing competitiveness and branding. Under the theme “Trend 2.0, Let the FUN Begin”, this year’s award attracted 119 companies and 264 product entries. Following a rigorous multi-stage review process-including qualification review, requirement checks, preliminary, semi-final, and final evaluations-90 products from 63 companies were recognized with the Fun Food Taiwan Award. Among them, 17 products received top honors including Gold Awards, Silver Awards, and Special Prizes under the three new pillars.

    Award Highlights
    Baked Goods:

    1.Gold Award: SHI FENG SHIANG 40th Anniversary Gift Box by SHI FENG SHIANG 1985 TAIWAN PASTRY.
    Merging artistic aesthetics with traditional cake molds; low-sugar, additive-free, trans-fat-free; recyclable and minimalist packaging showcasing sustainability.

    2.Silver Award: Pineapple Financier by Cheese Duke Co., Ltd.
    Low-oil, low-sugar, additive-free; carbon footprint certified.

    3.Silver Award: Jiachuan rice snack gift box by TONG BAE FOOD CO., LTD.
    Made with 100% Taiwanese rice; additive-free, trans-fat-free with rich texture.

    4.Special Prize – Evolution: Layered Tofu Rock Handmade Pancakes by TSAI JI ENTERPRISE CO., LTD.
    Represents Keelung’s local spirit, blends cultural depth with eco-conscious design.

    5.Special Prize – Decarbonization: red dragon fruit pastryby County Specialty Industry Co., Ltd.
    Targets carbon reductions in electricity and fuel use by 2026; implements green energy and energy-saving equipment.

    6.Special Prize – Experience: Lace Rice Crisp-Hand Carved Wooden Gift Box by Joy Joy Golden
    Infuses marine flavors and culture, with traditional Taiwanese window frame wood boxes and floral tile designs.

    Prepared Foods:

    7.Gold Award: Fermented Pineapple Chili Sauce by Leezen Company Limited.
    Made with native Taiwanese pineapple and naturally fermented chili; additive-free, low-carbon processing.

    8.Silver Award: Taro Pork Meatball (Additive Free) by ZHEN FANG CO., LTD.
    Made with contract-farmed pork and rich taro; 100% additive-free, user-friendly, aligned with modern health trends.

    9.Special Prize – Evolution: Cold-Smoked Albacore Tuna Slices by Zheng Cheng Aquatic Products Co., Ltd.
    Rare cold-smoke technique with distinctive packaging conveying ocean identity and brand strength.

    10.Special Prize – Decarbonization: Creamy Pumpkin Calendula Noodles by Yuan Yung Fong Foods. Co., Ltd.
    Clear decarbonization targets: 15-20% carbon emission reduction, over 15% energy savings.

    11.Special Prize – Experience: Signature Collection – Black Truffle Tuna by Blaire & Claire Company.
    Rich truffle flavor with elegant minimal packaging and golden spoon detail creating a surprising unboxing moment.

    Other Food Categories:

    12.Gold Award: Mesona Tea by Yuanlin Food Co., Ltd.
    Uses local Taiwanese ingredients; reduced sugar, additive-free; chic packaging blends youthful visuals for market expansion.

    13.Silver Award: Three-Time Roasted Bamboo Salt by DUO LI DUO FOODS CORPORATION.
    Pure, natural, sodium-reduced; artistic floral packaging conveys premium image, adheres to ISO 14067.

    14.Silver Award: Amazake by RUHN CHAN INTERNATIONAL CO., LTD.
    Alcohol-free, sugar-free, additive-free formula with multiple functional ingredients and eco-friendly Japanese minimal packaging.

    15.Special Prize – Evolution: Fragrant Bloom – Taiwanese Blossom Tea by LuYuan Tea
    Rich flavor and layered taste using local spices; block print-style packaging tells tea-making stories.

    16.Special Prize – Decarbonization: Taiwan Corn Snacksby Djulis International Food Company Limited.
    Made with local sweet corn; additive-free, low-burden; reusable packaging and clear decarbonization plan targeting 10% annual carbon reduction.

    17.Special Prize – Experience: BalsaUme by BALSALIA INC.
    De-seeded aged plum blended with balsamic vinegar for a unique aroma; distinctive bottle shape with memorable minimalist packaging aligns with premium brand identity.

    Award Showcase During the Taipei International Food Show
    During the Taipei International Food Show (June 25-28), a dedicated “Fun Food Taiwan” display area (Booth S0123) is set up on the 4th floor of Hall 2, Nangang Exhibition Center. It features physical exhibits of the award-winning products and invites both domestic and international visitors to experience the new charm and high quality of Taiwanese food-paving the way for future global collaboration.

    Spokesperson:
    Deputy Director-General Pei-Li Chen
    Industrial Development Administration
    Tel: +886-2-2754-1255 ext. 2903
    Mobile: +886-925-775-150
    Email: plchen@ida.gov.tw

    Business Contact:
    Section Chief Ku-Sung Weng
    Livelihood Chemical Industry Division
    Industrial Development Administration
    Tel: +886-2-2754-1255 ext. 2301
    Mobile: +886-926-002-537
    Email: ksweng@ida.gov.tw

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Durbin Slams Republicans’ So-Called “One Big, Beautiful Bill” Which Slashes Health Care Coverage For 17 Million Americans To Provide Massive Tax Breaks For Billionaires

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin

    July 08, 2025

    Durbin voted against final passage of the bill last week

    WASHINGTON – In a speech on the Senate floor, U.S. Senate Democratic Whip Dick Durbin (D-IL) today slammed the Republicans’ so-called One Big Beautiful Bill Act, which will slash Medicaid, Affordable Care Act, and Medicare coverage for 17 million Americans to provide massive tax breaks for millionaires and billionaires. During his speech, Durbin underscored the dangers of this Republican bill, which was signed into law by President Trump on the Fourth of July.

    “Americans across this nation overwhelmingly opposed this bill—and for good reason. This bill signed by the President on the Fourth of July was the largest cut to health care and the largest cut to nutrition assistance in history, slashing more than $1 trillion from health care programs like Medicaid and $200 billion from SNAP. Seventeen million Americans will lose their health insurance, health insurance premiums will rise for another 20 million families, and three million people will have food taken off the table, including kids, seniors, and veterans… Why would the government do these things to so many innocent people? In this case, very simply, to give tax breaks to the wealthiest Americans and big corporations with the richest Americans seeing $400,000 back in their pockets every year because of this legislation,” said Durbin.

    More than 300 rural hospitals may be forced to close because the Republican bill cripples the Medicaid program that keep our rural hospitals and their communities afloat. Illinois hospitals at risk of closing includes HSHS St. Francis Hospital in Litchfield, Illinois, where Medicaid pays for 53 percent of hospitalizations; St. Mary’s Hospital in Centralia, Illinois, where Medicaid pays for 42 percent of hospitalizations; and OSF St. Clare Hospital in Princeton, Illinois, where Medicaid covers 45 percent of hospitalizations.

    Durbin continued, “Aside from hospitals, this bill will also have major consequences on American energy… This bill kills solar, wind, and EV tax credits enjoyed by companies and consumers alike, all but ceding the future of electricity to China and risking billions of dollars of investments in renewable energy, ironically mostly in Republican states. And while working families grapple with the consequences of these cuts, they’ll also see their family home expenses increase by $1,000 a year—utility bills are going up because of this bill.”

    During his floor speech, Durbin highlighted a constituent, Isaiah Rogers, who will be impacted by the Republican bill. Isaiah is a 61-year-old man who was diagnosed with Type 2 diabetes. As a result of his diagnosis, he has not been able to return to his job trimming trees and has been working small side jobs. Medicaid pays for Isaiah’s doctors’ visits and insulin. A single father without a high school degree, he’s concerned the bill’s cuts and changes to Medicaid will result in him losing his health coverage.

    Durbin continued, “And if Isaiah loses Medicaid, he’ll no longer be able to afford his insulin and other medications, and he may face a diabetic complication or even suffer a stroke. What would that mean for his 12-year-old son? It’s unconscionable to think the other party would pull-the-plug on life-saving health coverage and deny food from our most needy children—but that’s exactly what they voted for.”

    Durbin then highlighted Democrats’ efforts to push back on the bill. Over the course of 27 hours, Senate Democrats forced votes on a slew of amendments to put Republicans on-notice and show their constituents how they’re betraying them. It was the longest vote-a-rama in Senate history.

    “It [the amendments] included Republicans voting against: Nursing home care and home health aides, food assistance for children and veterans, protections for Medicaid, clean energy jobs… and an expansion of the Child Tax Credit… all to give billionaires another tax cut instead. In the end, three sensible Senate Republicans looked at this ugly betrayal of a bill and agreed that they couldn’t be part of the process. I commend them, but sadly, it wasn’t enough. And who swooped in to cast the decisive vote? Vice President Vance… This Vice President cast the deciding vote that will be painful for so many families across America.”

    Durbin concluded, “As the effects of this bill take shape and slither their way through our communities, my Republican colleagues will have to look their constituents in the eye and explain their votes. They will have to explain to the farmer who now must drive 50 miles to the nearest hospital why they voted to shut his community’s hospital doors. They will have to explain to the grandmother in a nursing home why her care is being slimmed down because of cuts to Medicaid, and they will have to explain to the young mother who is preparing to have a baby why there is no longer a maternity ward in her county. This bill flies in the face of American values that we celebrate on the Fourth of July. The other party has a lot of explaining to do and the American people are going to face the consequences.”

    The Joint Committee on Taxation estimates that Senate Republicans’ proposal will cost $4.45 trillion, but despite the price tag, the legislation primarily helps billionaires at the expense of American working families. In fact, this legislation provides a huge, permanent tax cut of nearly $350,000 for multimillionaires and billionaires while people earning $40,000 a year will see a comparatively meager average tax decrease of $442 per year.

    Video of Durbin’s remarks on the Senate floor is available here.

    Audio of Durbin’s remarks on the Senate floor is available here.

    Footage of Durbin’s remarks on the Senate floor is available here for TV Stations.

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    MIL OSI USA News –