NewzIntel.com

Category: Trade

  • MIL-Evening Report: Trump is ignoring the power of nationalism at his own peril

    Source: The Conversation (Au and NZ) – By David Smith, Associate Professor in American Politics and Foreign Policy, US Studies Centre, University of Sydney

    US President Donald Trump has exploited American nationalism as effectively as anyone in living memory. What sets him apart is his use of national humiliation as a political emotion. Any presidential candidate can talk their country up, but Trump knows how to talk his country down.

    Trump’s consistent message has been that American problems – trade deficits, job losses, illegal immigration, crime and even drug addiction – are the result of deliberate acts by other countries. The really humiliating part is that American politicians let it happen.

    Many Americans have welcomed Trump’s message that their country’s problems can be solved by reestablishing international dominance. They see this nationalist approach as an overdue corrective to the “globalist” foreign policies of the post-second world war era.

    But people in other countries also have feelings of national pride and aspire to be free from foreign domination. This should be obvious, but so far Trump is ignoring the power of nationalism in other countries even as he harnesses it in his own. This makes his foreign policy job a lot harder.

    How Canadians have rallied against Trump

    Take the example of Canada.

    When Trump was elected to his second term in November 2024, it seemed certain there would soon be a Canadian prime minister who was more aligned with him than Justin Trudeau. Trudeau’s unpopularity had dragged the Liberal Party down, and the populist Conservative leader Pierre Poilievre looked set to win the this year’s election.

    As he prepared for a trade war with Canada, Trump could have concentrated his fire on his enemies in the doomed Liberal government. Instead, he spent months insulting Canada’s national identity. He repeatedly said Canada should be the “51st state of the US”, calling Trudeau “governor”.

    Trump says ‘Canada was meant to be our 51st state’ in a Fox News interview.

    Americans can dismiss Trump’s talk of annexing Canada as a joke, but Canadians can’t. Regardless of whether Trump would ever follow through with attempting an annexation, his language is an attack on Canadian sovereignty. No one with any sense of national pride would tolerate it.

    An Angus Reid poll found the number of people saying they had a “deep emotional attachment” to Canada rose from 49% to 59% from December 2024 to February 2025. That emotional attachment is visible in everything from “buy Canadian” campaigns to Canadians booing the US national anthem at hockey games.

    The Liberals, under new leader Mark Carney, are also experiencing a remarkable bounce-back in the polls.

    Another Angus Reid poll shows that voting intention for the Liberals has surged from 16% in December to 42% now. They are now leading the Conservatives, who have 37% support. Some are now anticipating a snap election could be called in days.

    Ontario Premier Doug Ford, who has sometimes been likened to Trump, has also led a ferocious pro-Canadian resistance to American tariffs, getting his own re-election boost.

    Trump’s defenders often claim his chaotic bluster is simply a negotiating tactic, a way of spooking others into accepting terms more favourable to him. If so, this tactic is backfiring in Canada.

    Trade wars require sacrifices. Citizens must pay more for the sake of protecting their countries’ industries. Canadians seem a lot more willing to make that sacrifice than Americans, who are mostly confused that their friendly neighbour has suddenly been recast as an enemy.

    The importance of national identity

    Other countries have shown they will not cave easily, either, as Trump puts their national identity at stake.

    Demanding to buy another country’s territory, as Trump keeps doing with Greenland, a self-governing territory under Danish control, may be even more insulting than threatening to take it, as he keeps doing with Panama. Each time Greenlanders, Danes and Panamanians refuse Trump, his credibility erodes further.

    Trump talks about the territory of other countries in terms of “real estate”, even suggesting the United States should “redevelop” Gaza after evicting the Palestinians.

    But sovereign land is not real estate. In a world of nation-states defined by territory, even sparsely inhabited territory has “sacred value”. This is particularly true for peoples seeking statehood on their land.

    “Sacred values” are things people see as non-negotiable because they are linked to their sense of identity and moral order in the world. Researchers warn that offering money in exchange for sacred values is deeply offensive, and likely to harm, rather than help, negotiations.

    There is a reason why governments hardly ever sell their territory to other countries anymore. Empires may have done in this in the past, but not nations. They view their lands, and the people who live on them, as inalienable from the nation.

    Trump clearly doesn’t understand this concept. He has shown no empathy for Ukraine, a country whose territory actually has been invaded. He accused Ukrainian President Volodomyr Zelenskyy of wanting to prolong the war so he could “keep the gravy train going”, as if harvesting US aid dollars was the real reason Ukrainians were fighting for their country’s existence.

    Trump’s contempt for Ukraine, Canada, Greenland, Gaza, Denmark and Panama has reverberations far beyond these places. It signals that his brand of American nationalism has no place for anyone else’s national aspirations or sovereignty.

    This will not promote the deal-making Trump wants because no one trusts an unstable, imperial power to stick to its agreements. It would be painful for many countries to reduce their dependence on the United States, but it would be more painful to give away their national dignity.

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

    – ref. Trump is ignoring the power of nationalism at his own peril – https://theconversation.com/trump-is-ignoring-the-power-of-nationalism-at-his-own-peril-252299

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI New Zealand: Reining in water price increases for Aucklanders

    Source: New Zealand Government

    Increases in water charges for Auckland consumers this year will be halved under the Watercare Charter which has now been passed into law, Local Government Minister Simon Watts and Auckland Minister Simeon Brown say.
    The charter is part of the financial arrangement for Watercare developed last year by Auckland Council with the support of the Government under Local Water Done Well. 
    “Last year, the Government quickly progressed legislation to restore local control of water assets, overturning Labour’s Three Water reforms which were expensive and creating problems across the country. This included putting in place preliminary arrangements for the transition to safe, resilient, reliable, environmentally sound, and customer responsive water services at the least cost,” Mr Watts says.
    “The charter will help keep Auckland’s water services affordable, saving households about $899 million over four years while ensuring improved service quality and record infrastructure investment averaging $1.3 billion a year to unlock housing growth in Auckland.
    “By easing this financial pressure, Aucklanders can keep more money in their household budgets, allowing them to spend it on other essential expenses such as groceries and healthcare.”
    Under Auckland Council’s draft 2024-2034 long-term plan (LTP), Watercare charges for drinking water and wastewater connected residential consumers would have risen by an average of 14.6 percent on 1 July 2025. Under the charter, the increase will be 7.2 percent. This follows last year’s increase, also of 7.2 percent compared with the 25.8 percent increase proposed in the draft LTP for 1 July 2024.
    Auckland Minister Simeon Brown says the Government is committed to delivering affordable water charges for Aucklanders through the Local Water Done Well solution for Watercare, while ensuring that there is ongoing investment in critical infrastructure maintenance and growth. 
    “The high cost of living remains a top concern for Aucklanders, and our Government is committed to reducing unnecessary charges and taxes to provide relief. The Government’s Local Water Done Well solution for Watercare has prevented large increases in Aucklanders’ water rates while ensuring we keep investing in the water infrastructure our city will need,” Mr Brown says.
    Mr Watts says the charter will ensure Watercare faces incentives to invest in replacing and upgrading assets, improve efficiency, and provide water services at a quality that reflects consumer expectations. Importantly, it means that the benefits of efficiency improvement will be shared with consumers,” Mr Watts says
    “The Commission’s regulatory oversight of Watercare means greater transparency and accountability regarding water and wastewater network performance, customer service, and cost to consumers.
    “Infrastructure is vital for our cities to thrive, and because this Government listened and worked with Auckland Council, we delivered a solution that ensures Watercare has the flexibility and revenue certainty to fund future water infrastructure projects.
    “This approach also frees up Auckland Council’s own balance sheet to support it to invest in other critical infrastructure, supporting growth across the city.”

    MIL OSI New Zealand News –

  • MIL-OSI Australia: New pilot program to strengthen regional manufacturing

    Source: New South Wales Premiere

    Published: 20 March 2025

    Released by: Minister for Industry and Trade, Minister for Regional NSW, Minister for Western New South Wales

    The NSW Government is continuing its commitment to rebuild the state’s manufacturing industry with the launch of an $800,000 pilot program aimed at boosting productivity, reducing costs and increasing competitiveness.

    The Lean Manufacturing Pilot Program will provide small-to-medium-sized manufacturers across regional NSW with funding to undertake audits by professional consultants that will identify ways to re-organise their manufacturing operations.

    Lean manufacturing is an internationally recognised business management process that revolves around the principles of continuous improvement, waste elimination, and a customer-centric approach.

    It focuses on creating products more efficiently by eliminating unnecessary steps, saving time and using fewer materials in the production process. This approach helps businesses produce goods with fewer resources, without compromising on quality.

    More efficient processes mean production lines manufacture fewer products with defects, which in turn reduces operating costs related to providing returns and waste disposal.

    For example, a regional food manufacturer might reorganise production lines to improve efficiency, implement preventative maintenance to reduce equipment breakdowns and implement just-in-time inventory management to reduce excess stock and waste.

    The audits, undertaken as part of the program, will offer tailored recommendations to help businesses identify inefficiencies, streamline operations, reduce waste and increase productivity, while also highlighting training opportunities for staff.

    Several major companies have successfully implemented lean manufacturing to improve efficiency, reduce waste, and enhance productivity over the past decades including Toyota, Ford Motor Company, Boeing, General Electric and Nike.

    Many regional NSW companies such as the Bega Group in Bega, Donaldson Australia on the Central Coast, Belmore Engineering at Tamworth, Flavourtech in Griffith and Tyree Transformers at Braemar have also successfully used lean manufacturing principles.

    Manufacturing is a key driver of the NSW economy, contributing nearly 30 per cent of Australia’s total manufacturing output.

    In regional NSW, the sector generates $32 billion in sales and employs 84,000 workers, reinforcing the need for continued support to strengthen and future-proof the industry.

    Industry research by Binder Dijker Otte (BDO) suggests that adopting lean manufacturing can boost small-to-medium-sized businesses’ profit margins by up to three times, depending on their size and turnover.

    The NSW Department of Primary Industries and Regional Development designed the pilot program following in-depth industry consultation, which highlighted the need for more support in adopting lean manufacturing principles to ensure regional manufacturers remain globally competitive.

    The Lean Manufacturing Pilot Program is part of the NSW Government’s ongoing commitment to supporting manufacturing industries across the state as they navigate rising costs and market challenges.

    Expressions of interest for the audits are now open to eligible manufacturers and will close at 4pm on Monday 31 March 2025, with funding allocated on a first-come, first-served basis.

    For more information about the program, including guidelines and Expression of Interest details, go to www.nsw.gov.au/LMPP or email economic.programs@dpird.nsw.gov.au.

    Minister for Regional NSW and Western NSW Tara Moriarty, said:

    “The Lean Manufacturing Pilot Program is an important part of our ongoing support for regional manufacturers across the state, helping them overcome the challenges posed by rising supply chain, energy and labour costs.

    “This program is an important step towards ensuring the long-term success of our regional manufacturers.

    “We know that by supporting regional businesses to improve their operations, we’re strengthening the entire economy of regional NSW, creating more local jobs and enhancing the long-term sustainability of our regions.”

    Minister for Industry and Trade, Anoulack Chanthivong said:

    “NSW manufacturing fell in nine out of 12 years under the previous Liberal-National Government, and the Lean Manufacturing Pilot Program is a prime example of how the Minns Labor Government is working to rebuild local manufacturing right across the state.

    “Support for local manufacturing is also an integral part of the Minns Labor Government’s recently released Industry Policy.

    “Central to the Industry Policy are three new local manufacturing targets, which demonstrate a real commitment to supporting local manufacturing to promote a dynamic, sustainable, and diversified economy.”

    HunterNet Chief Executive Officer Ivan Waterfield said:

    “Lean manufacturing plays a crucial role in the future of the NSW manufacturing sector. By focusing on eliminating waste and improving efficiency, it helps manufacturers reduce costs and enhance productivity.

    “In a time of scarce resources, a strong Lean culture helps manufacturing companies improve their efficiency and their P&L.

    “The Lean Manufacturing Pilot Program by the NSW Government is a significant step towards supporting regional manufacturers in becoming more competitive on a global scale and is something that HunterNet fully supports and endorses.”

    MIL OSI News –

  • MIL-OSI Australia: 81-2025: Transition phase of the Highly compliant importer project

    Source: Australia Government Statements – Agriculture

    20 March 2025

    Who does this notice affect?

    All importers and customs brokers who lodge imported cargo eligible under the Highly Compliant Importer Project (HCIP).

    Background

    The highly compliant importer project (HCIP), implemented in July 2018, is an initiative to reduce intervention for compliant importers and ensure departmental resources are focused on high-risk priorities. The following import industry advice notices have been published in relation to the…

    MIL OSI News –

  • MIL-OSI USA: Shaheen Tours Furniture Manufacturer in Lisbon to Discuss Energy Efficiency Upgrades, Visits Mount Cabot Maple in Lancaster During Maple Month

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen

    (Lancaster, NH) – U.S. Senator Jeanne Shaheen (D-NH), Ranking Member of the U.S. Senate Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration and Related Agencies, toured DCI Furniture in Lisbon to learn more about how the business is using federal funding to make energy efficiency upgrades. Later, Shaheen visited Mount Cabot Maple in Lancaster to celebrate Maple Month and hear about the challenges facing the Granite State’s maple industry. Photos from today’s events can be found here.

    In Lisbon, Shaheen visited DCI Furniture, a family-owned furniture manufacturing company, to learn more about how the business is using federal funding to install a new combined heat and power system that uses wood waste for fuel. The project will improve energy efficiency, decrease costs and reduce emissions at the facility.

    “Efficiency is the cheapest, fastest way to meet our energy needs, and DCI Furniture is a poster child for thinking about energy in a smart way,” said Senator Shaheen. “I was pleased to see firsthand how DCI is using federal funding that I’ve championed to make energy efficiency upgrades that will save money, reduce emissions and benefit the local forest-based economy—it’s just the kind of made-in-New Hampshire project we need to see more of.”

    The project has been awarded funding through programs Shaheen champions, including the U.S. Department of Agriculture’s (USDA) Rural Energy for America Program, the U.S. Forest Service’s Community Wood Grant program and Bipartisan Infrastructure Law funding from the U.S. Department of Energy. Shaheen was a lead negotiator of the Bipartisan Infrastructure Law, which made huge investments in energy efficiency, including $550 million for Industrial Research and Assessment Centers and assistance for small- and medium-sized manufacturers to implement efficiency upgrades based upon her longstanding bipartisan legislation with former U.S. Senator Rob Portman. Shaheen also helped introduce legislation to enhance the Forest Service’s Community Wood  Grant program that is providing funding for this project. 

    Later in Lancaster, Shaheen visited Mount Cabot Maple to hear more about how the farm has benefitted from federal funding from USDA Natural Resources Conservation Service and underscore the challenges facing the Granite State’s maple industry in the wake of the Trump Administration’s tariffs on Canada and Mexico and federal funding freeze.

    “Our maple syrup producers are an integral and delicious part of New Hampshire’s identity,” said Senator Shaheen. “It was great to visit Mount Cabot Maple today during Maple Month to tour the farm and learn more about how this North Country staple is weathering the impacts of Trump’s funding chaos and tariffs on Canada.”

    Shaheen co-leads the Market Access, Promotion and Landowner Education Support for Your Regionally Underserved Producers (MAPLE SYRUP) Act with Senator Chris Murphy (D-CT) to extend and expand the federal maple support program, which supports the U.S. maple syrup industry through research and education, natural resource sustainability and the marketing of maple syrup and maple-sap products.

    Shaheen has also been outspoken against the Trump Administration’s reckless tariffs on Canada and Mexico and chaotic funding freeze and cuts. Recently, Shaheen forced a vote in the Senate on her Protecting Americans from Tax Hikes on Imported Goods Act to limit the President’s ability to levy sweeping tariffs that increase costs for American consumers and families. Shaheen has also hosted a series of roundtables and discussions with Granite Staters to better understand and highlight the direct consequences of the Trump administration’s funding chaos and uncertainty. Following the Trump administration’s decision to freeze grants and loans disbursed by the federal government in January, Shaheen immediately condemned the move and spoke on the Senate floor against the decision to freeze federal grants and loans that families, seniors and small businesses rely on for critical, often life-saving services. 

    MIL OSI USA News –

  • MIL-OSI USA: Leader of Multi-Year ‘Operation Fox Hunt’ Repatriation Campaign Directed by the People’s Republic of China Sentenced to 20 Months in Prison

    Source: US State Government of Utah

    Defendant Repeatedly Harassed U.S. Resident and His Family to Coerce Repatriation to the PRC

    Earlier today, in federal court in Brooklyn, defendant Quanzhong An, 58, of Roslyn Heights, New York, was sentenced to 20 months in prison for acting as an illegal agent of the government of the People’s Republic of China (PRC), for his participation in a scheme to cause the coerced repatriation of a U.S. resident (the U.S. Resident) to the PRC as part of the PRC government’s international extralegal repatriation effort known as “Operation Fox Hunt.” In addition to the term of imprisonment, An was ordered to pay a financial penalty of approximately $5 million, including approximately $1.3 million in restitution to the U.S. Resident and his family, as well as a $50,000 fine. An pleaded guilty in May 2024 and was charged in October 2022.

    As set forth in the government’s sentencing memoranda and other court filings, An was a leading member of an international campaign to threaten, harass, and intimidate the U.S. Resident and his family members, with the goal of coercing the U.S. Resident to repatriate to the PRC. An participated in the multi-year scheme to elevate his status within the PRC government as a means of furthering his own economic interests.

    An’s involvement in the repatriation scheme began in 2017, when he attempted to locate the U.S. Resident by visiting the home of the U.S. Resident’s adult son, without notice or invitation. The following year, An sent his daughter, as well as two PRC government officials, to the home of the U.S. Resident’s son. An subsequently met with the U.S. Resident’s son on numerous occasions, during which time An served as a mouthpiece for the PRC by conveying threatening messages on behalf of the PRC government. For example, An said he did not want to pronounce “ruthless words” from the PRC government but stated that PRC officials would “keep pestering [the U.S. Resident’s son], [and] make [his] daily life uncomfortable” if the son was unable to convince his father to repatriate to the PRC. An’s harassment continued unabated from 2017 until his arrest in 2022. An’s conduct intimidated individuals living in the United States and their loved ones in the PRC – just as it was intended to do – for the benefit of the PRC government.

    At sentencing, Judge Matsumoto considered that An participated in additional criminal conduct. Specifically, he perpetrated a bank fraud and money laundering scheme to defraud U.S. financial institutions so that he could enjoy continued access to U.S.-based bank accounts. As part of this scheme, he moved millions of dollars from the PRC into the United States, deliberately deceiving U.S. financial institutions regarding the source and purpose of the funds.

    The FBI has created a website for victims to report efforts by foreign governments to stalk, intimidate, or assault people in the United States. If you believe that you are or have been a victim of transnational repression, please visit the FBI’s website.

    Supervisory Official Sue Bai, head of the Justice Department’s National Security Division, U.S. Attorney John J. Durham for the Eastern District of New York, and Acting Assistant Director in Charge Leslie R. Backshies of the FBI New York Field Office made the announcement.

    Assistant U.S. Attorneys Alexander Solomon, Meredith A. Arfa, and Antoinette N. Rangel for the Eastern District of New York are prosecuting the case, with assistance from Trial Attorney Scott Claffee of the National Security Division’s Counterintelligence and Export Control Section. Claire S. Kedeshian of the Eastern District of New York’s Asset Recovery Section is handling forfeiture matters and Madeline O’Connor and Daniel Saavedra of the Eastern District of New York’s Financial Litigation Program are assisting with restitution matters. 

    MIL OSI USA News –

  • MIL-OSI Security: Leader of Multi-Year “Operation Fox Hunt” Repatriation Campaign Directed by the People’s Republic of China Sentenced to 20 Months in Prison

    Source: Office of United States Attorneys

    Defendant Repeatedly Harassed U.S. Resident and His Family to Coerce Repatriation to the PRC

    BROOKLYN, NY – Earlier today, in federal court in Brooklyn, defendant Quanzhong An was sentenced by United States District Judge Kiyo A. Matsumoto to 20 months in prison for acting as an illegal agent of the government of the People’s Republic of China (the “PRC”), for his participation in a scheme to cause the coerced repatriation of a U.S. resident (the “U.S. Resident”) to the PRC as part of its international extralegal repatriation effort known as “Operation Fox Hunt.”  In addition to the term of imprisonment, Judge Matsumoto ordered An to pay a financial penalty of approximately $5 million, including approximately $1.3 million in restitution to the U.S. Resident and his family, as well as a $50,000 fine.  An pleaded guilty in May 2024 and was charged in October 2022.

    John J. Durham, United States Attorney for the Eastern District of New York, Sue Bai, Supervisory Official and head of the Justice Department’s National Security Division and Leslie R. Backschies, Acting Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (“FBI”) announced the sentences.

    “Quanzhong An acted at the direction of the PRC government to harass and intimidate individuals living on U.S. soil as part of a pernicious scheme to force their repatriation to the PRC,” stated United States Attorney Durham.  “Thanks to our collective efforts, the scheme failed, and the defendant has been brought to justice.  Our Office remains steadfast in its efforts to protect both U.S. national security interests and individuals living in our District from transnational repression schemes perpetrated by hostile foreign powers.”

    Mr. Durham expressed his appreciation to the Internal Revenue Service, Criminal Investigations for its work on the case.

    “For years, Quanzhong An threatened, harassed, and attempted to intimidate a U.S. resident and his family at the behest of the People’s Republic of China, with the ultimate goal of strong-arming the individual into leaving the United States and returning to China to face an unknown fate.  Today’s sentencing represents justice for this victim and his family, and demonstrates to others that the FBI is committed to protecting all victims of transnational repression,” stated FBI Acting Assistant Director in Charge Backschies.  “Threats, harassment, and intimidation – whether perpetrated by individuals or nation states – will not be tolerated in this country, and the FBI will continue to lead the charge to protect all individuals who are threatened and harassed on U.S. soil.”

    As set forth in the government’s sentencing memoranda and other court filings, An was a leading member of an international campaign to threaten, harass, and intimidate the U.S. Resident and his family members, with the goal of coercing the U.S. Resident to repatriate to the PRC.  An participated in the multi-year scheme to elevate his status within the PRC government as a means of furthering his own economic interests.

    An’s involvement in the repatriation scheme began in 2017, when he attempted to locate the U.S. Resident by visiting the home of the U.S. Resident’s adult son, without notice or invitation.  The following year, An sent his daughter, as well as two PRC government officials, to the home of the U.S. Resident’s son.  An subsequently met with the U.S. Resident’s son on numerous occasions, during which time An served as a mouthpiece for the PRC by conveying threatening messages on behalf of the PRC government.  For example, An said he did not want to pronounce “ruthless words” from the PRC government but stated that PRC officials would “keep pestering [the U.S. Resident’s son], [and] make [his] daily life uncomfortable” if the son was unable to convince his father to repatriate to the PRC.  An’s harassment continued unabated from 2017 until his arrest in 2022.  An’s conduct intimidated individuals living in the United States and their loved ones in the PRC – just as it was intended to do – for the benefit of the PRC government.

    At sentencing, Judge Matsumoto considered that An participated in additional criminal conduct.  Specifically, he perpetrated a bank fraud and money laundering scheme to defraud U.S. financial institutions so that he could enjoy continued access to U.S.-based bank accounts.  As part of this scheme, he moved millions of dollars from the PRC into the United States, deliberately deceiving U.S. financial institutions regarding the source and purpose of the funds.

    The FBI has created a website for victims to report efforts by foreign governments to stalk, intimidate, or assault people in the United States.  If you believe that you are or have been a victim of transnational repression, please visit https://www.fbi.gov/investigate/counterintelligence/transnational-repression.

    The government’s case is being handled by the Office’s National Security and Cybercrime Section. Assistant United States  Attorneys Alexander Solomon, Meredith A. Arfa, and Antoinette N. Rangel are in charge of the prosecution, with assistance from Trial Attorney Scott A. Claffee of the National Security Division’s Counterintelligence and Export Control Section.  Assistant United States Attorney Claire S. Kedeshian of the Office’s Asset Recovery Section is handling forfeiture matters and Assistant United States Attorneys Madeline O’Connor and Daniel Saavedra of the Office’s Financial Litigation Program are assisting with restitution matters.

    The Defendant:

    QUANZHONG AN
    Age: 58
    Roslyn Heights, New York

    E.D.N.Y. Docket No. 22-CR-460 (KAM)

    MIL Security OSI –

  • MIL-OSI Russia: IMF Executive Board Concludes 2023 Article IV Consultation with El Salvador

    Source: IMF – News in Russian

    March 19, 2025

    Washington, DC: On March 20, 2023, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with El Salvador.

    Despite a series of adverse external shocks, the Salvadoran economy has fared relatively well to date, and is estimated to have grown by 2.8 percent in 2022. Annual inflation jumped to 7¼ percent, mainly due to high global food prices while fuel price inflation was moderated by large subsidies. Vulnerabilities mounted, with international reserves falling below 2 months of imports. In the context of limited financing options, the fiscal deficit narrowed to 2½ percent of GDP, but fiscal policy is expected to turn expansionary in 2023. Under current policies, public debt is on an unsustainable path. 

    The economy is expected to grow by 2.4 percent in 2023, but the outlook is fragile, given the macroeconomic imbalances and a less favorable international environment. A comprehensive and credible policy package is urgently needed to put public debt on a firmly declining path and strengthen macroeconomic and financial stability.

    Over a year after the adoption of Bitcoin as legal tender, its use has been minimal but risks for financial and market integrity, financial stability, and consumer protection remain and need to be addressed. 

    Executive Board Assessment[2]

    Executive Directors noted the strong post‑pandemic recovery supported by the authorities’ timely responses to shocks and the improved security situation. Pointing to the fragile outlook amid rising risks and vulnerabilities, Directors urged the authorities to adopt a comprehensive plan to address macroeconomic imbalances, including unsustainable public debt and limited reserve coverage, along with structural reforms to support stronger, inclusive growth.

    Directors welcomed recent fiscal efforts but underscored the urgent need for an ambitious fiscal consolidation plan, based on greater revenue mobilization and efficiency of spending, including better targeting energy subsidies and social safety nets and rightsizing the wage bill. This is critical to put public debt on a firm downward trajectory and allow a gradual return to international capital markets. Restoring and upgrading the Fiscal Responsibility Law would also improve the transparency and credibility of fiscal policy. Directors stressed the importance of ensuring the sustainability of the pension system to limit contingent liabilities.

    Directors noted that the banking system remains healthy but cautioned against rising exposures to the sovereign and the erosion of liquidity buffers. They called for raising banks’ reserve requirements, enacting promptly the Financial Stability Bill, closing regulatory gaps, and continuing to implement the 2020 Safeguards Assessment recommendations.

    Directors underscored the importance of narrowing the scope of the Bitcoin law and removing Bitcoin’s legal tender status. They noted that while Bitcoin has had a minimal impact on financial inclusion, high risks to financial integrity and stability, fiscal sustainability, and consumer protection persist. Directors urged that Bitcoin transactions be transparently disclosed, together with the financial statements of public companies operating in the Bitcoin ecosystem. They also called on the authorities to carefully weigh the implications of the new crypto assets legislation and avoid expanding government exposure to Bitcoin.

    Directors stressed the importance of structural reforms to strengthen governance, the investment climate and productivity. They called for continued efforts to strengthen fiscal transparency, public procurement, AML/CFT legislation, and the independence of the judicial system. Directors also stressed the importance of enhancing human capital, infrastructure, and climate resilience, as well as continuing to upgrade the statistical framework.

    El Salvador: Selected Economic Indicators

    I. Social Indicators

    		  

    Per capita income (U.S. dollars, 2021)

    4,408

    		  

    Population (million, 2021)

    6.5

    		  

    Percent of pop. below poverty line (2021)

    24.6

    		  

    Gini index (2019)

    		  

    39

    		  
                     

    II. Economic Indicators (percent of GDP, unless otherwise indicated)

    		  
     
               

    Proj.

    		  

    2018

    2019

    2020

    2021

    2022

    2023

    2024

    		  
                     

    Income and Prices

    		                

    Real GDP growth (percent)

    2.4

    2.4

    -8.2

    10.3

    2.8

    2.4

    1.9

    		  

    Consumer price inflation (average, percent)

    1.1

    0.1

    -0.4

    3.5

    7.2

    4.1

    2.1

    		  

    Terms of trade (percent change)

    -3.9

    1.7

    4.8

    -7.6

    -1.6

    5.0

    0.7

    		  

    Sovereign bond spread (basis points)

    424

    453

    760

    837

    1,485

    …

    …

    		  
                     

    Money and Credit

    		                

    Credit to the private sector

    57.3

    59.1

    66.3

    61.8

    63.1

    61.2

    60.0

    		  

    Broad money

    54.8

    59.1

    70.4

    61.5

    58.5

    58.5

    60.5

    		  

    Interest rate (time deposits, percent)

    4.2

    4.3

    4.1

    3.9

    …

    …

    …

    		  
                     

    External Sector

    		                

    Current account balance 

    -3.3

    -0.4

    0.8

    -5.1

    -8.3

    -5.4

    -5.3

    		  

    Trade balance

    -21.7

    -21.2

    -21.0

    -28.6

    -31.4

    -27.5

    -27.4

    		  

    Transfers (net)

    20.6

    21.0

    24.4

    25.9

    24.0

    22.9

    22.4

    		  

    Foreign direct investment

    -3.2

    -2.4

    -1.1

    -1.1

    -0.2

    -1.6

    -2.2

    		  

    Gross international reserves (mill. of US$)

    3,569

    4,446

    3,083

    3,426

    2,440

    2,798

    3,382

    		  
                     

    Nonfinancial Public Sector

    		                

    Overall balance

    -2.7

    -3.1

    -8.2

    -5.6

    -2.5

    -3.4

    -3.4

    		  

    Primary balance

    0.9

    0.6

    -3.8

    -1.1

    2.2

    0.3

    0.4

    		  

    Of which: tax revenue

    18.0

    17.7

    18.5

    20.1

    20.3

    19.0

    19.0

    		  

    Public sector debt 1/

    70.4

    71.3

    89.4

    82.4

    77.2

    76.1

    78.3

    		  
                     

    National Savings and Investment

    		                

    Gross domestic investment

    18.4

    18.3

    18.9

    22.2

    20.7

    19.8

    19.4

    		  

    Private sector 2/

    15.7

    15.9

    16.9

    19.6

    18.8

    17.4

    17.1

    		  

    National savings

    15.1

    17.9

    19.8

    17.1

    12.4

    14.5

    14.2

    		  

    Private sector

    14.7

    18.0

    25.4

    19.5

    12.8

    14.9

    14.9

    		  
                     

    Net Foreign Assets of the Financial System

    		                

    Millions of U.S. dollars

    2,655

    3,372

    3,618

    3,022

    1,114

    1,227

    1,400

    		  
                     

    Memorandum Items

    		                

    Nominal GDP (billions of US$)

    26.0

    26.9

    24.6

    28.7

    31.6

    33.7

    35.1

    		  
                     

    Sources: Central Reserve Bank of El Salvador, Ministry of Finance, and IMF staff estimates.

    		  

    1/ Gross debt of the nonfinancial public sector.

    		  

    2/ Includes inventories.

    		  

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summing up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Meera Louis

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

    https://www.imf.org/en/News/Articles/2025/03/19/pr25069-el-salvador-imf-executive-board-concludes-2023-article-iv-consultation-with-el-salvador

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI: Wearable Devices Announces Full Year 2024 Financial Results and Provides Corporate Update

    Source: GlobeNewswire (MIL-OSI)

    YOKNE’AM ILLIT, Israel, March 19, 2025 (GLOBE NEWSWIRE) — Wearable Devices Ltd. (Nasdaq: WLDS, WLDSW) (“Wearable Devices” or the “Company”), a technology growth company specializing in artificial intelligence (“AI”)-powered touchless sensing wearables, today announced its financial results for the year ended December 31, 2024.

    Asher Dahan, Chief Executive Officer and Chairman of the Board of Directors of Wearable Devices, commented, “2024 was characterized by strategic capital allocation and the execution of our growth strategy as we delivered our Mudra Band for Apple Watch, and entered into several collaborations with companies and contractors at the forefront of their respective industries. With a strong focus on technological breakthroughs and innovation, we introduced the Mudra Link, a universal gesture control wearable wristband in September 2024. This launch marked a significant milestone in our neural interface technology, enabling seamless, touch-free interaction with a wide range of digital devices. The Mudra Link is open for orders, and we have started to ship the Mudra Link to customers in the first quarter of 2025. We invested significant resources in pursuit of these milestones, mainly due to strategic investments primarily in sales and marketing and research and development as we continue to innovate and showcase our technology, as well as an enhanced focus on business development on the business-to-business (“B2B”) side of our business.”

    “Collaborations represent a key part of our business, and we expect our B2B offerings to be a significant driver of revenue for us as we grow. At the beginning of 2024, we launched the B2B Mudra Developer Kit (“MDK”), providing our B2B customers with enhanced capabilities and additional features that improve our B2B offering. The MDK allows original equipment manufacturers (“OEMs”) to design new, customized gestures to create a user interface specifically tailored to their needs. At the beginning of 2024, we announced a collaboration agreement with Qualcomm Incorporated (“Qualcomm”), for the development of products using the Qualcomm Snapdragon Spaces XR Developer Platform. In October 2024, we announced an innovative collaboration with TCL-RayNeo™ (“RayNeo”), a leader in augmented reality (“AR”) technology, aiming at bringing mass-market neural interface wristband for AR glasses to life. We anticipate interest in our B2B product to grow as the market for wearable devices and AI-based technology expands, with more and more customers recognizing the value that our products can add to their operations.

    “Our business-to-customer (“B2C”) product, the Mudra Band, is an award-winning aftermarket band for the Apple Watch that enables touchless control of multiple Apple devices. In addition, we’re seeing considerable interest in the Mudra Link, and during the first quarter of 2025 we commenced shipment of our first manufacturing batch to Mudra Link customers. 2024 was characterized by strategic capital allocation and the execution of our growth strategy, with a focus on three key areas: technological breakthroughs and innovation, adoption trends and market outlook, and strategic positioning for future growth.

    First, we continued to lead in innovation with groundbreaking technologies that enable natural, touch-free interaction. Second, we are witnessing an increasing adoption trend in neural interface solutions, with growing interest from both consumers and business partners. Finally, we are well-positioned for future growth, supported by our marketing efforts, strong presence at leading trade shows such as CES and MWC, and the growing recognition of Mudra Link as a market-defining product. We continue to receive orders for the product and see significant growth potential as our technology and capabilities evolve.”

    Mr. Dahan concluded, “We have a comprehensive strategy with innovative B2B and B2C offerings to maximize our presence in what we believe to be a market that is poised for tremendous growth. We are very encouraged by the progress that we made in 2024 and believe that Wearable Devices is positioned for transformation in coming years, as we continue to invest in our operations, bring innovative products to market, and showcase the breadth and depth of our technology.”

    2024 and Recent Business Highlights:

    Strategic Collaborations & Expansion

    • Signed a collaboration agreement with Qualcomm to elevate extended reality (“XR”) experiences using Mudra neural technology.
    • Collaborated with RayNeo to lead the neural control revolution for AR glasses, positioning Mudra ahead of competitors like Meta.
    • Signed a reseller agreement to scale licensing efforts in South Korea and China.

    Product & Technology Innovations

    • Launched Mudra Link, the first AI Neural Interface Wristband for Android and beyond, expanding accessibility of neural gesture control.
    • Released the Mudra Developer Kit (MDK) for B2B customers, enabling OEMs to create tailored user interfaces.
    • Unveiled AI-powered Large MUAP Models to revolutionize gesture control with personalized neural interactions.
    • Showcased future AI-powered gesture personalization technology, advancing next-gen human-computer interaction.

    Market Recognition & Sales Expansion

    • Awarded the CES 2025 Innovation Award in XR Technologies and Accessories for Mudra Link.
    • Chosen as Best Wearable of CES 2024 by SlashGear.com.
    • Featured in Mashable, VentureBeat, and leading tech magazines.

    Strategic Deployments

    • Successfully completed the first-stage deployment testing for a leading XR glasses OEM, meeting key evaluation criteria.
    • Demonstrated Mudra technology integration with Qualcomm Snapdragon Spaces at CES 2025 and AWE 2024.
    • Showed positive results on Lenovo’s XR headset, validating Mudra’s neural technology for next-gen spatial computing.

    Intellectual Property & Regulatory Progress

    • Filed a patent application for touchless pinch-to-zoom technology for AR/VR (virtual reality) applications.
    • Secured a Chinese patent for its AI Gesture-Controlled Interface.
    • Expanded international IP portfolio with a neural wrist technology patent filing in South Korea.

    Full Year 2024 Financial Highlights:

    • Revenues: Revenues increased from $82 thousand in 2023 to $522 thousand in 2024, marking a significant step forward in the Company’s transition toward a commercially driven business. This growth was primarily driven by increased sales of the Mudra Band, demonstrating early market adoption and growing demand for neural interface technology. While revenues are still at an early stage, the upward trend reflects positive momentum and a foundation for future expansion.
    • Research and Development Expenses: Research and development expenses decreased by 11% to $3.0 million in the full year of 2024 compared to $3.3 million in the full year of 2023, reflecting the successful completion of key development phases, particularly Mudra Link, and a transition toward production and sales. The Company continued to focus on creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software and hardware.
    • Sales and Marketing Expenses: Sales and marketing expenses increased by 4% to $2.1 million in the full year of 2024 compared to $2.0 million in the full year of 2023, related to the Company driving awareness of its technology and products across various channels including participation at multiple leading industry conferences.
    • General and administrative expenses: General and administrative expenses decreased by 1.3% to $2.8 million in the full year of 2024 compared to $2.9 million in the full year of 2023.
    • Net Loss: Net loss increased to $(7.9 million), or $(24.2) per diluted share, for the year ended December 31, 2024, as compared to a net loss of $(7.8 million), or $(38.4) per diluted share, for the year ended December 31, 2023.

      The per share information reflects the Company’s 1-for-20 reverse share split, which became effective on October 10, 2024, and an additional 1-for-4 reverse share split, which became effective on March 17, 2025.

    • Cash Position: Cash and deposits as of December 31, 2024 were $4.0 million.
    • Inventory: Inventory increased to $1.2 million at the end of 2024, as part of the completion of the transition phase from research and development to production and to serve our planned B2C and B2B initiatives in 2025.

    About Wearable Devices Ltd.

    Wearable Devices Ltd. is a growth company developing AI-based neural input interface technology for the B2C and B2B markets. The Company’s flagship product, the Mudra Band for Apple Watch, integrates innovative AI-based technology and algorithms into a functional, stylish wristband that utilizes proprietary sensors to identify subtle finger and wrist movements allowing the user to “touchlessly” interact with connected devices. The Company also markets a B2B product, which utilizes the same technology and functions as the Mudra Band and is available to businesses on a licensing basis. Wearable Devices Is committed to creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software, and hardware to set the input standard for the Extended Reality, one of the most rapidly expanding landscapes in the tech industry. The Company’s ordinary shares and warrants trade on the Nasdaq market under the symbol “WLDS” and “WLDSW,” respectively.

    Forward-Looking Statement Disclaimer

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss the benefits, capabilities, advantages and expected demand, an increasing adoption trend in neural interface solutions, with growing interest from both consumers and business partners, momentum and growth of our products and technology, our expectation for the growth of the B2B market and that our B2B offerings will be a significant driver of revenue for us as we grow, our anticipation that interest in our B2B product will grow as the market for wearable devices and AI-based technology expands and our belief that Wearable Devices is positioned for transformation in coming years. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our use of proceeds from the offering; the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2023, filed on March 15, 2024 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Investor Contact:

    Michal Efraty
    IR@wearabledevices.co.il

    WEARABLE DEVICES LTD. AND ITS SUBSIDIARY
    CONSOLIDATED BALANCE SHEETS
     
        December 31  
        2024       2023  
        U.S. dollars
    in thousands    		  
    Assets      
    CURRENT ASSETS:            
    Cash and cash equivalents     3,089         810  
    Short-term bank deposits     862         4,045  
    Governmental grant receivable     17         108  
    Other receivables and prepaid expenses     322         757  
    Inventories     1,226         1,032  
    TOTAL CURRENT ASSETS     5,516         6,752  
                     
    NON-CURRENT ASSETS:                
    Long-term bank deposits     –         54  
    Right-of-use assets     330         592  
    Property and equipment, net     130         194  
    TOTAL NON-CURRENT ASSETS     460         840  
    TOTAL ASSETS     5,976         7,592  
                     
    Liabilities and Shareholders’ Equity                
    CURRENT LIABILITIES:                
    Accounts payable     157         410  
    Advance payments     83         312  
    Convertible promissory note     770         –  
    Accrued payroll and other employment related accruals     402         579  
    Accrued expenses     392         190  
    Lease liabilities     291         297  
    TOTAL CURRENT LIABILITIES     2,095         1,788  
    Lease liabilities     21         278  
    TOTAL LIABILITIES     2,116         2,066  
                     
    SHAREHOLDERS’ EQUITY:                
    Ordinary shares no par value : Authorized 50,000,000 as of December 31, 2024 and December 31, 2023; Issued and outstanding 707,463 shares as of December 31, 2024 and 254,843 shares as of December 31, 2023.     67         57  
    Additional paid-in capital     32,895         26,692  
    Accumulated losses     (29,102 )       (21,223)  
    TOTAL SHAREHOLDERS’ EQUITY     3,860         5,526  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY     5,976         7,592  
    WEARABLE DEVICES LTD. AND ITS SUBSIDIARY
    CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
     
        Year ended December 31  
        2024       2023       2022    
        U.S. dollars in thousands (except per share amounts)  
                       
    Revenues     522         82         45    
    Cost of revenues     437         (62 )       (10 )  
    GROSS PROFIT     85         20         35    
    Research and development, net     (2,964 )       (3,316 )       (2,271 )  
    Sales and marketing expenses, net     (2,096 )       (2,008 )       (1,370 )  
    General and administrative
    expenses    		     (2,845 )       (2,882 )       (1,948 )  
    Initial public offering expenses     –         –         (904 )  
    OPERATING LOSS     (7,820 )       (8,186 )       (6,458 )  
    Financing income (expenses), net     (52 )       372         (38 )  
    LOSS BEFORE TAX EXPENSES     (7,872 )       (7,814 )       (6,496 )  
    Tax expenses     (7 )       –         –    
    NET LOSS AND TOTAL                           
    COMPREHENSIVE LOSS     (7,879 )       (7,814 )       (6,496 )  
                             
    Net loss per ordinary shares,                        
     basic and diluted *     (24.2 )       (38.4 )       (42.4 )  
    Weighted average number of                               
    ordinary shares and pre-
    funded warrants outstanding
    basic and diluted *    		     325,690         202,515         153,465    
      * The share and per share information in these financial statements reflects the 1-for-20 reverse share split became effective on October 10, 2024 and an additional 1-for-4 reverse share split of our issued and outstanding Ordinary Shares became effective on March 17, 2025.
    WEARABLE DEVICES LTD. AND ITS SUBSIDIARY
    CONSOLIDATED STATEMENTS OF CASH FLOWS
     
        Year ended December 31  
        2024       2023     2022    
        U.S. dollars in thousands  
    CASH FLOWS FROM OPERATING ACTIVITIES:                    
    Net loss     (7,879 )       (7,814)       (6,496)    
    Adjustments required to reconcile net loss to net cash used in                           
    operating activities                          
    Depreciation     107         68       23    
    Interest expenses on convertible promissory note     4         –       –    
    Accrued interest on deposits     (3 )       (45)       –    
    Share based compensation expenses     182         241       790    
    Unrealized gain from foreign currency derivative activities     68         (68)       –    
    Marketing expenses paid in ordinary shares     100         –       –    
    Provision for inventory write-off     75         –       –    
                               
    Changes in operating assets and liabilities items:                          
    Decrease in accounts receivable     –         –       8    
    Decrease (increase) in inventories     (269 )       (1,026)       5    
    Decrease (increase) in governmental grants receivables     91         (54)       8    
    Decrease (Increase) in other receivables and prepaid expenses     357         (136)       (496)    
    Increase (decrease) in advance payments     (228 )       (41)       79    
    Increase (decrease) in deferred revenues     –         (12)       (12)    
    Increase (decrease) in accounts payable     (253 )       254       84    
    Increase (decrease) in accrued payroll and other employment
    related accruals    		     (177 )       163       194    
    Increase in accrued expenses     212         36       99    
    Net cash used in operating activities     (7,613 )       (8,434)       (5,714)    
    CASH FLOWS FROM INVESTING ACTIVITIES:                          
    Purchase of property and equipment     (43 )       (194)       (48)    
    Decrease (Increase) in deposits, net     3,240         (4,054)       –    
    Prepayments of leasing     –         –       (18)    
    Net cash provided by (used in) investing activities     3,197         (4,248)       (66)    
    CASH FLOWS FROM FINANCING ACTIVITIES:                          
    Proceeds from issuance of shares issued in the public offering, net
    of issuance cost    		     1,578         1,670       –    
    Proceeds from issuance of units of ordinary shares and warrants in
    connection with the initial public offering, net of issuance
    expenses    		             –       14,319    
    Proceeds from issuance of SAFEs     –         –       500    
    Refund to SAFE investors     –         –       (100)    
    Proceeds from credit line     –         –       800    
    Repayment of credit line     –         –       (800)    
    Proceeds from issuance of ordinary shares as a result of exercise of
    warrants    		     –         1,449       160    
    Proceeds from issuance of ordinary shares associated with the
    SEPA    		     4,353         –       –    
    Proceeds from issuance of convertible promissory note     1,920         –       –    
    Repayment of convertible promissory note     (1,156 )                    
    Net cash provided by financing activities     6,695         3,119       14,879    
                               
    Net increase (decrease) in cash and cash equivalents     2,279         (9,563)       9,099    
    Cash and Cash Equivalents at the beginning of year     810         10,373       1,274    
    Cash and cash equivalents at the end of year     3,089         810       10,373    
    Supplemental Disclosure:                          
    Interest paid     49         –       40    
    Interest received     (144 )       (305)       –    
    Conversion of SAFEs to equity     –         –       400    
    Right-of-use asset recognized against lease liability     –         644       229    

    The MIL Network –

  • MIL-OSI Australia: Automatic Mutual Recognition expanded in NSW

    Source: New South Wales Premiere

    Published: 19 March 2025

    Released by: Minister for Better Regulation and Fair Trading

    The Minns Labor Government has moved to make it easier for more qualified workers from interstate to operate in NSW after the passing of new laws last night expanding Automatic Mutual Recognition (AMR) to more industries.

    From 1 July 2025, conveyancers, real estate and property agents, and automotive industry workers from interstate will be allowed to work in NSW without having to get a separate NSW licence.

    The AMR scheme supports workers and businesses across Australia by facilitating worker movement between states by reducing red tape and removing the need to apply and pay for another licence.

    Under AMR, interstate licensees must also meet relevant mandatory compensation fund obligations while working here.

    The Minns Labor Government has acted carefully to ensure consumers across the state are protected by the same regulatory enforcement as people licenced to work in these industries in NSW.

    The laws passed by the Minns Labor Government allow NSW Fair Trading to calculate and collect compensation fund contributions from conveyancers, property and stock agents, and motor dealers and repairers, ensuring customers can seek compensation as a last resort if they suffer a financial loss caused by an interstate operator.

    From 1 July 2025, conveyancers, real estate and property agents, and automotive occupations will join the range of trades and professions already covered under the AMR scheme, including electrical, tow trucks, some construction trades, and traffic control industries.

    For more information please visit the Browse your occupation webpage.

    Quotes attributable to Minister for Better Regulation and Fair Trading Anoulack Chanthivong:

    “This legislation recognises the licenced interstate workers we need and supports both workers and businesses across Australia by removing red tape and reducing costs, which will allow NSW businesses access to a larger employment market.

    “With more occupations now added since the Automatic Mutual Recognition scheme was introduced in 2021, it now allows more workers greater movement across industries with similar national standards, while still maintaining and protecting consumer rights.”

    MIL OSI News –

  • MIL-OSI Asia-Pac: HKETO holds spring reception in Tokyo to celebrate arrival of spring and flower blossom season (with photos)

    Source: Hong Kong Government special administrative region

    HKETO holds spring reception in Tokyo to celebrate arrival of spring and flower blossom season  
    Speaking to guests from various sectors including Japanese political and business circles, academia, media and community groups, the Principal Hong Kong Economic and Trade Representative (Tokyo), Miss Winsome Au, said that Hong Kong and Japan have strengthened economic and trade relations, flourished through collaborations on different fronts, and made shared achievements together in the past year.
     
    She noted that Hong Kong was the fifth-largest inbound tourist source market for Japan, reaching more than 2.68 million tourists for 2024, and remained the second-largest export market for Japanese agricultural, forestry and fishery products in the year.
     
    “With direct connections to 15 airports in Japan, and soon 18, we are confident that our people-to-people exchanges will continue to grow,” Miss Au added.
     
    On the business front, she noted that over 1 430 Japanese companies operate in Hong Kong, making them the largest group from overseas. Notably, Invest Hong Kong has attracted over 500 enterprises outside Hong Kong to set up in the city in 2024, with more renowned Japanese brands expanding their presence.
     
    She also updated the guests of the latest developments of Hong Kong, and shared with them the Hong Kong Special Administrative Region Government’s measures to fast-track Hong Kong’s economy through reform and innovation in the 2025-26 Budget and the 2024 Policy Address.
     
    The spring reception was organised by the Hong Kong Economic and Trade Office (Tokyo), and supported by Invest Hong Kong, the Hong Kong Trade Development Council and the Hong Kong Tourism Board.
    Issued at HKT 23:09

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Hong Kong Customs detects three dangerous drugs cases at airport with seizure worth about $58.4 million (with photos)

    Source: Hong Kong Government special administrative region

    Hong Kong Customs detects three dangerous drugs cases at airport with seizure worth about $58.4 million  
    In the first case, through risk assessment, Customs on March 17 inspected an air cargo consignment, declared as graphite furnace machine and arriving in Hong Kong from the Netherlands at the airport. Upon inspection, Customs officers found about 25kg of suspected ketamine, with an estimated market value of about $11.8 million, concealed in the consignment. 
     
    After a follow-up investigation, Customs officers conducted a controlled delivery operation yesterday in Tsim Sha Tsui and arrested a male consignee, aged 20. Customs officers later escorted the arrested person to an industrial building unit in Kwai Chung for a search and further seized about 760g of suspected heroin and a batch of drug packaging paraphernalia.
     
    An investigation is ongoing.
     
    In the second case, through risk assessment, Customs yesterday inspected 48 cargoes arriving in Hong Kong from Thailand at the airport. About 152kg of suspected cannabis budswith an estimated market value of about $39 million were found concealed inside. 
     
    After a follow-up investigation, Customs discovered that an overseas company had commissioned a local freight forwarding company to collect the batch of goods and arranged  transshipment of the goods to the UK via air channel. Customs has contacted the overseas law enforcement agencies concerned to conduct follow-up investigations.
     
    In the third case, a 33-year-old female passenger arrived in Hong Kong from Amsterdam, the Netherlands, via Istanbul, Türkiye, yesterday. During customs clearance, Customs officers found about 15kg of suspected ketamine with an estimated market value of about $7.1 million inside her check-in suitcase. The woman was subsequently arrested. She has been charged with one count of trafficking in a dangerous drug. The case will be brought up at the West Kowloon Magistrates’ Courts tomorrow (March 20).
         
    Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not to participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong. They are also reminded not to carry unknown items for other people, nor to release their personal data or home address to others for receiving parcels or goods.
     
    Customs will continue to apply a risk assessment approach and focus on selecting passengers from high-risk regions for clearance to combat transnational drug trafficking activities.
     
    Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.

    Customs also reminds that cannabis and tetrahydro-cannabinol (THC) are classified as dangerous drugs under the Ordinance. Importation of products (including food or drinks) containing cannabis or THC into Hong Kong is prohibited unless the relevant provisions in the Ordinance are complied with. In order to avoid breaching the law inadvertently, special attention should be paid to the packaging labels of food and drinks.
     
    Members of the public may report any suspected drug trafficking activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hkIssued at HKT 23:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: APEDA showcases India’s Agricultural offerings, Processed Foods and alcoholic beverage products at the IFE London 2025

    Source: Government of India (2)

    Posted On: 19 MAR 2025 7:11PM by PIB Delhi

    The Agricultural and Processed Food Products Export Development Authority (APEDA)   commenced participation, showcasing India’s Agricultural offerings, Processed Foods and Alcoholic Beverage Products at the International Food & Drink Event (IFE) London, 2025 on 18 March 2025. A delegation of 16 leading Indian exporters from Gujarat, Punjab, Telangana, Haryana, Maharashtra, Bihar, Himachal Pradesh and Tamil Nadu amongst other states represented by 27 participants are showcasing a wide array of premium  products at the India Pavilion, providing a platform for business opportunities to the UK market.

    India’s pavilion features a diverse selection of homegrown value-added products, including a variety of agricultural produce, processed foods and beverages.

    The Deputy High Commissioner of India in the UK, Mr. Sujit Ghosh and First Secretary (Trade, Tourism and OCI), Mr. Rakesh Dahiya along with officials from APEDA inaugurated the India Pavilion, today. APEDA’s presence at the IFE London 2025 underlines India’s commitment to promoting its agricultural offerings on the global stage.

    Notable highlights of the exhibition include fresh fruits like Mangoes, Pomegranates and Guavas, a premium range of Processed Foods as well as a fine collection of Indian Liquor such as Rampur, Sula, Godawan, Old Monk Coffee Rum, Jamun Gin and Jaisalmer amongst others. Visitors can explore an extensive showcase of offerings such as Basmati rice, Honey, Namkeen, Peanut Butter, Makhana, Sauces, Millets, Soya Chaap, Baby Corn, Masala Soda, dried Petha, Ready-to-Cook (RTC) dishes like Rajma Rice, Samosas, Dal Rice, Sarson Ka Saag, Chana Rice and Coconuts.

    A special emphasis is placed on promoting Organic products, Millets and Indian fruits like mangoes and pomegranates. Sampling sessions are being organized, giving attendees the opportunity to experience authentic Indian flavours with offerings like vegetarian and non-vegetarian Basmati Rice Biryani and Millet Khichdi. As part of its strategic efforts to further enhance the global footprint of Indian agricultural exports, India’s participation in IFE London 2025 serves as a platform for Indian exporters to connect with potential buyers, explore new business collaborations and promote the diverse offerings of India’s agricultural and processed food sectors globally.

    The Agricultural and Processed Food Products Export Development Authority (APEDA) is a Statutory body under the Ministry of Commerce & Industry, Government of India. APEDA’s mission is to develop, facilitate and promote the exports of agricultural and processed food products from India and to enhance the nation’s footprint in the global food and beverage industry.

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    Abhishek Dayal/ Abhijith Narayanan

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  • MIL-OSI Asia-Pac: Four-day Symposium ‘India 2047: Building a Climate Resilient Future’ kick starts in New Delhi

    Source: Government of India

    Four-day Symposium ‘India 2047: Building a Climate Resilient Future’ kick starts in New Delhi

    Important to maintain Growth and Accelerating Welfare while addressing Adaptation Challenges: Vice Chairperson (NITI Aayog), Shri Suman Bery

    Need to scale up South-South and Triangular Cooperation to ensure ‘Climate Resilience for All’: MoS (EFCC) Shri Kirti Vardhan Singh

    Posted On: 19 MAR 2025 6:36PM by PIB Delhi

    The Lakshmi Mittal and Family South Asia Institute and The Salata Institute for Climate and Sustainability at Harvard University, in collaboration with the Ministry of Environment, Forest and Climate Change (MoEFCC), Government of India, are organizing a symposium, ‘India 2047: Building a Climate-Resilient Future’. The four-day symposium started today at Bharat Mandapam, New Delhi, beginning with the convening of stakeholders from Union Government, State Governments, scientists, researchers, industry experts, civil society representatives and other relevant stakeholders to deliberate on India’s climate adaptation and resilience priorities as the Nation aspires to be Viksit Bharat by 2047.

    The Inaugural Session on Day-1 was presided over by Shri Suman Bery, Vice Chairperson of NITI Aayog and Union Minister of State for Environment, Forest and Climate Change, Shri Kirti Vardhan Singh. Other dignitaries gracing the occasion included Shri Tarun Kapoor, Adviser to the Prime Minister of India, Mr. James H. Stock, Vice Provost of Harvard University and Mr. Tarun Khanna, Director of The Lakshmi Mittal and Family South Asia Institute.

    In his address, Shri Suman Bery, emphasized the need for India-centric adaptation strategies. He highlighted the importance of maintaining growth and accelerating welfare while addressing adaptation challenges. He called for flexibility in programme design, particularly in governance dimension, which remains largely unexplored. He stressed the need to empower both the people and the communities. Additionally, he underscored the significance of documenting case studies and fostering intellectual exchange within South Asia.

    Stressing on the critical need for stronger adaptation measures across all sectors, Shri Kirti Vardhan Singh stated, “India has consistently led climate advocacy for the Global South, ensuring at international climate policies are fair and inclusive. As we move forward, it is crucial to scale up adaptation efforts and ensure that the most vulnerable communities have access to the resources and technologies they need to build resilience”. While India has made significant strides in mitigation through ambitious renewable energy goals and emission intensity reduction commitments, he emphasized that adaptation and resilience remains essential to safeguarding livelihoods, ecosystems, and infrastructure from the impacts of climate change.

    The Minister further highlighted the crucial role of climate finance in supporting adaptation initiatives. He stressed that financial resources must be significantly scaled up to meet the needs of vulnerable communities and ensure effective adaptation measures. He underscored the need for innovative financing mechanisms, including blended finance, risk-sharing frameworks, and greater private sector engagement, to complement public finance in driving adaptation efforts. Additionally, the Minister pointed out that adaptation investments must directly benefit those on the frontlines of climate change – farmers, small businesses, and coastal communities. He stated that by strengthening financial instruments such as green bonds, climate-resilient infrastructure funds and concessional financing, India aims to create a sustainable and equitable climate finance ecosystem. “India believes that international climate action must be built on trust, transparency, and equitable growth. We must scale up South-South and Triangular Cooperation to ensure climate resilience for all, accelerate innovation in clean energy transitions, and empower local communities through decentralized governance and ecosystem-based solutions,” the Minister concluded.

    Addressing the gathering, Shri Tarun Kapoor emphasized practical climate change solutions that ensure resource flows to individuals and affordable food security. He stressed the importance of delivering forecasts, technology and knowledge where needed. Earlier, in his welcome remarks, Secretary (MoEFCC), Shri Tanmay Kumar, set the tone for the symposium, emphasizing the need for actionable solutions related to adaptation. He said, “This Symposium is not just about identifying challenges – it is about coming together of experts, policy makers, academia, scientists, civil society and communities in developing adaptation strategies that are grounded in research, responsive to local needs, cost effective and scalable for long-term resilience. He highlighted that India’s adaptation strategy is to be built on a foundation of scientific evidence, cross-sectoral integration, and strong institutional frameworks.

    In a video address, Mr. Alan M. Garber, President of Harvard University, highlighted the role of The Lakshmi Mittal and Family South Asia Institute as a hub connecting Harvard with India. He introduced The Salata Institute for Climate and Sustainability, aimed at developing durable and effective climate solutions. Mr. James H. Stock, Vice Provost of Harvard University, underscored the university’s mission of teaching and research, with interdisciplinary teams working on climate solutions. He emphasized learning from local partners to address climate challenges. Mr. Tarun Khanna, Director of The Lakshmi Mittal and Family South Asia Institute, spoke about the importance of synergizing traditional knowledge and advanced knowledge systems.

    Over the period of four days, the symposium will address four key themes that are central to India’s adaptation priorities – climate science and its implications for agriculture and water security, health risks associated with climate change, labor productivity and workforce adaptation, and resilience in the built environment. High-level plenaries, expert roundtables, and technical sessions will explore sector-specific challenges and identify best practices for mainstreaming adaptation across policies and programmes.

    The intersection of climate resilience and governance remains a crucial area of focus, with an emphasis on ensuring that adaptation measures are effectively implemented across all levels. Strengthening institutional capacity and fostering coordination among stakeholders will play a pivotal role in translating policies into tangible actions that protect communities, economy, and ecosystems from climate risks. The insights from this symposium could also contribute to the India’s first National Adaptation Plan (NAP) which is under preparation, for which the National Level Stakeholder Workshop was organized by the MoEFCC on 18th March, 2025. Deliberations will help shape evidence-based policy recommendations that integrate climate adaptation into development planning, safeguarding livelihoods, critical infrastructure, and economic stability.

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    VM

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  • MIL-OSI Asia-Pac: Bharat Pavilion Makes Historic Debut at Hong Kong FILMART

    Source: Government of India

    Bharat Pavilion Makes Historic Debut at Hong Kong FILMART

    Consul General of India, Hong Kong Inaugurates First-ever Bharat Pavilion at Hong Kong (FILMART)

    “Pavilion represents new era of global partnerships for Indian cinema”: Consul General of India, H.E. Ms. Satwant Khanalia

    Posted On: 19 MAR 2025 6:10PM by PIB Mumbai

    Mumbai, 19th March 2025

    In a landmark moment for Indian cinema on the global stage, the first-ever Bharat Pavilion made its debut at the prestigious Hong Kong International Film & TV Market (FILMART). Consul General of India, Hong Kong & Macau, H.E. Ms. Satwant Khanalia, inaugurated the pavilion, marking a significant step in strengthening India’s presence in the international film and media industry.

    Organised by the Services Export Promotion Council (SEPC), Ministry of Commerce and Industry, and the National Film Development Corporation (NFDC) under the aegis of the Ministry of Information and Broadcasting, the Bharat Pavilion is supported by the Consulate General of India, Hong Kong & Macau. This initiative highlights the growing influence of Indian cinema and its expanding global footprint, promoting international collaborations and showcasing the immense potential of India’s storytelling prowess.

    At the inauguration, H.E. Ms. Satwant Khanalia expressed her pride in India’s dynamic cinematic landscape. “It is an honor to launch the first-ever India Pavilion at FILMART. India’s film industry is one of the largest in the world, and its stories resonate with audiences across cultures. This pavilion represents a new era of global partnerships and opportunities for Indian cinema,” she said.

    Promoting WAVES: India’s Premier Global M&E Summit

    A key focus of the Bharat Pavilion is to promote the World Audio Visual and Entertainment Summit (WAVES), scheduled to take place in Mumbai from 1st to 4th May 2025. WAVES is poised to be a premier platform aimed at bringing the global Media & Entertainment (M&E) industry’s attention to India, fostering trade, innovation, and cross-border collaborations. With a diverse array of industry leaders, innovators, and stakeholders expected to participate, WAVES aims to position India as the Content Hub of the World.

    Driving Collaborations and Expanding Opportunities

    On its first day, the Bharat Pavilion at FILMART buzzed with activity, hosting dialogues, meetings, and networking sessions with international industry representatives. The pavilion facilitated discussions on co-productions, content distribution, and collaborations, opening doors for Indian filmmakers and content creators to explore new markets and expand their global reach.

    About NFDC

    National Film Development Corporation of India is the central agency established to encourage the good cinema movement in the country. Through its participation in key international events such as FILMART, Cannes Film Festival, and Berlinale, NFDC facilitates co-productions, market access, and distribution opportunities for Indian content creators.

    About WAVES

    The first World Audio Visual & Entertainment Summit (WAVES), a milestone event for the Media & Entertainment (M&E) sector, will be hosted by the Government of India in Mumbai, Maharashtra, from May 1 to 4, 2025.

    Whether you’re an industry professional, investor, creator, or innovator, the Summit offers the ultimate global platform to connect, collaborate, innovate and contribute to the M&E landscape.

    WAVES is set to magnify India’s creative strength, amplifying its position as a hub for content creation, intellectual property, and technological innovation. Industries and sectors in focus include Broadcasting, Print Media, Television, Radio, Films, Animation, Visual Effects, Gaming, Comics, Sound and Music, Advertising, Digital Media, Social Media Platforms, Generative AI, Augmented Reality (AR), Virtual Reality (VR), and Extended Reality (XR).

    Have questions? Find answers here  

    Come, Sail with us! Register for WAVES now (Coming soon!).

     

    PIB TEAM WAVES 2025 | Dhanlakshmi/ Preeti Malandkar | 072

     

    Follow us on social media: @PIBMumbai     /PIBMumbai     /pibmumbai   pibmumbai[at]gmail[dot]com   /PIBMumbai     /pibmumbai

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  • MIL-OSI Asia-Pac: Centre for Development of Telematics launches ‘Samarth’- A cutting edge Incubation Program for startups in Telecom & ICT Sector on 19th March’ 2025

    Source: Government of India (2)

    Posted On: 19 MAR 2025 6:06PM by PIB Delhi

    Centre for Development of Telematics (C-DoT), an autonomous Telecom R&D centre of Department of Telecommunication (DoT), Govt. of India launches first cohort of Incubation Program named as “Samarth” with a focus on fostering innovation and promoting technological advancements in India’s telecommunications and IT sectors.

     “Samarth” Incubation Program is designed to provide comprehensive support for startups and innovators engaged in creating next-generation technologies in the fields of Telecom Software Applications, Cyber Security, 5G/6G Technologies, AI, IoT Applications & Quantum Technologies. The program aims to encourage the development of sustainable and scalable business models, offer access to cutting-edge resources, and help startups bridge the gap from ideation to commercialization.

    C-DOT has selected Software Technology Parks of India (STPI) as the Implementation Partner to drive the vision of nurturing high-impact, innovative solutions and start-ups in the tech ecosystem. Software Technology Parks of India (STPI) is a premier S&T organization under Ministry of Electronics and Information Technology (MeitY) engaged in promoting IT/ITES Industry, innovation, R&D, start-ups, product/IP creation in the field of emerging technologies like IoT, Blockchain, Artificial Intelligence (AI), Machine Learning (ML), Computer Vision, Robotics etc.

    ‘Samarth’ represents a dynamic and supportive environment for startups looking to make their mark in the fast-evolving telecom and IT landscape. The program has a maximum cohort size of 18 startups per program, with a total of 36 startups across two cohorts of six months each. The program will be delivered in a hybrid mode. Through world-class infrastructure, expert mentorship, and access to a network of investors and industry leaders, the program is set to empower the next generation of innovators.

    “Samarth” will connect people, support collaboration, attract investors and ultimately strengthen the startups community for creating a pipeline of future job-creating businesses.

    The applications, under ‘Samarth’ are open to DPIIT (Department for Promotion of Industry and Internal Trade) recognized startups. Selected startups will get an opportunity to  grant up to 5 lakh INR each, access to well-furnished office space for a period of 6 months at C-DOT Campus, access to C-DOT Lab facilities, mentorship from C-DOT technical leaders & industry experts. Based on progress the startup will get an opportunity for future collaboration under C-DOT Collaborative Research Program.

    Applications received shall undergo comprehensive screening process for shortlisting the start-ups. Shortlisted startups shall be invited to pitch-in before a selection committee comprising of industry experts, post which the final cohort shall be selected. For more information on problem statements and to apply, visit: https://www.cdot.in OR https://cdot.sayuj.net .

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    Samrat

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  • MIL-OSI Asia-Pac: BCCL Achieves Historic Milestone with Successful Monetization of 2 MTPA Dugda Coal Washery Paving the Way for Energy Self-reliance

    Source: Government of India

    Posted On: 19 MAR 2025 4:47PM by PIB Delhi

    Under the guidance of Ministry of Coal, Bharat Coking Coal Limited (BCCL), a CIL subsidiary has achieved a historic milestone by successfully monetizing the 2 MTPA Dugda Coal Washery located in Bokaro, Jharkhand. This first-ever monetization of a coal washery in India marks a transformative step in coal sector reforms, reinforcing the country’s commitment to enhancing efficiency, asset optimization, and energy security.

    The monetization of the Dugda Coal Washery is expected to have a significant impact on energy sector in India. With improved coal washing capabilities and enhanced beneficiation processes, this initiative will contribute to higher efficiency in domestic coal utilization. More importantly, it will play a crucial role in reducing India’s dependence on imported coking coal, leading to foreign exchange savings and reinforcing the country’s vision of Atmanirbhar Bharat.

    Strategic Importance of the Monetization:

    •           Optimizing Underutilized Assets

    •           Encouraging Private Participation

    •           Enhancing Coal Beneficiation:

    •           Revenue Generation:

    This landmark achievement is part of the broader reforms initiated by the Ministry of Coal to modernize Coal sector in India and ensure the optimal utilization of its vast coal resources. By facilitating the participation of leading industry players, the Ministry is fostering a competitive and transparent ecosystem that encourages technological advancements, operational efficiency, and long-term sustainability in coal processing.

    The successful auction of BCCL’s Dugda Coal Washery represents a significant shift towards a more dynamic and efficient coal sector, aligning with the Government’s policy of asset monetization. By leveraging private sector expertise and investment, the Ministry of Coal aims to drive efficiency, reduce wastage, and maximize the value of coal sector infrastructure.

    Beyond its impact on the coal sector, the monetization of the Dugda Coal Washery is expected to generate significant economic benefits for the region. Involvement of private sector leaders will not only improve supply chain efficiency, enhance coal-washing capabilities but also create employment opportunities, and boost industrial growth in Jharkhand and adjoining areas.

    The Ministry of Coal remains committed to progressive reforms, ensuring India’s coal sector plays a key role in national energy security and sustainability. This historic achievement reaffirms dedication to innovation, efficiency, and sustainable growth. Moving forward, the Ministry will continue optimizing coal assets, expanding domestic coal washing capacity, and reducing import dependency. Coal sector in India is well-positioned to contribute significantly to the nation’s economic progress and energy self-sufficiency.

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    Shuhaib T

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  • MIL-OSI USA: While other states chase Hollywood, California locks in record-breaking film slate

    Source: US State of California 2

    Mar 19, 2025

    What you need to know: 51 projects — including 46 independent features — will generate nearly $580 million in economic activity and employ over 6,490 cast and crew thanks to California’s Film & Television Tax Credit Program.

    HOLLYWOOD — Governor Newsom today announced the California Film Commission selected 51 film projects for the latest round of awards under the California Film & Television Tax Credit Program. This batch represents the most projects ever approved in one application window.

    While other states try to chase California’s on-screen success, everyone knows the Golden State is the entertainment capital of the world – built through decades of innovation and hard work. Today’s awards are vital to keeping production where it belongs – generating thousands of good-paying jobs ‘below the line,’ and supporting the local businesses that rely on a thriving film and television industry.

    Governor Gavin Newsom

    Why this matters

    Collectively, these productions are estimated to spend $346.9 million in wages, generate approximately $577.8 million in qualified expenditures statewide, and are expected to hire 6,490 cast and crew members, with 37,000 background performers hired (measured in days worked).

    This latest allocation round includes an impressive slate of 46 independent and 5 non-independent films, reflecting an unprecedented regional diversity and offering significant economic benefits across the state with 31 projects planning to film in various areas beyond Los Angeles. These projects plan to film more than 360 days in Contra Costa, Oakland, Ojai, Merced, and San Diego Counties, among others.

    “The devastating wildfires in Southern California have presented unprecedented challenges for our film and television community, disrupting more than a dozen productions within our Film & Television Tax Credit Program alone and impacting countless more,” said Colleen Bell, Director of the California Film Commission. “These disruptions have impacted employment for thousands of cast and crew members, affecting everything from production schedules and financing to housing and location access. Now more than ever, this program is a critical tool to help productions recover, keeping jobs and investment here in our state, all while ensuring that California remains the heart of the entertainment industry.”

    Highlights from this round of awards include:
    • Untitled Daniels/Wang Project (NBCUniversal), expected to receive $20.8 million in tax credits, generating estimated wages of $61.9 million and total qualified spending of $106.8 million.
    • Business Women (Twentieth Century Studios), securing $5.7 million in tax credits, estimated wages of $27.6 million, and total qualified spending of $49.4 million.
    • Behemoth! (Dialogue Industries Inc.), projected to bring $36.1 million in total qualified spending and generate $28.9 million in wages, securing $7.4 million in tax credits.
    • Cut Off (Warner Bros. Pictures), receiving $10 million in tax credits, with estimated wages of $28.3 million and total qualified spending of $49.4 million.
    • Untitled Drag Queen Movie (World of Wonder Productions), securing $1.7 million in tax credits, estimated wages of $4.4 million, and total qualified spending of $6.6 million.

    “We are LA filmmakers, with very dear LA friends, who happen to be some of the greatest creative talents we’ve worked with,” said The Daniels and Wang in a joint statement. “On ‘Everything Everywhere All At Once’ we received the California tax credit, and had we not, it would have been utterly impossible to make that film. We were also deeply moved by the CFC’s commitment to supporting local filmmakers and the broader community. We’re thrilled to have the opportunity to film our next project in Los Angeles, creating jobs and opportunities for countless Californians.”

    “Category is: there’s no place like home!” said producer RuPaul Charles. “As someone who’s produced a TV series in Los Angeles for 17 years, I’m thrilled that our feature film, ‘Untitled Drag Queen Movie,’ is receiving tax credits from the California Film Commission. These incentives have been instrumental in supporting our financing. And best of all, we’re getting people back to work in Hollywood.”

    Press Releases, Recent News

    Recent news

    Mar 19, 2025

    News What you need to know: Governor Newsom streamlined a solar and battery storage project in the Fresno area that would provide clean energy to power up to 300,000 homes. SACRAMENTO –  Governor Gavin Newsom today announced he is taking action to streamline a clean…

    Mar 18, 2025

    News Sacramento, California – Governor Gavin Newsom today issued a proclamation declaring March 17, 2025 through March 23, 2025, as Women’s Military History Week. The text of the proclamation and a copy can be found below: PROCLAMATION From the Revolutionary War to…

    Mar 18, 2025

    News What you need to know: California will provide a total of $2.4 billion in utility bill credits this year thanks to the state’s Cap-and-Trade program that funds critical climate action. SACRAMENTO – Today, Governor Gavin Newsom announced millions of Californians…

    MIL OSI USA News –

  • MIL-OSI USA: Governor Newsom cuts red tape to accelerate Fresno clean energy project

    Source: US State of California 2

    Mar 19, 2025

    What you need to know: Governor Newsom streamlined a solar and battery storage project in the Fresno area that would provide clean energy to power up to 300,000 homes.

    SACRAMENTO –  Governor Gavin Newsom today announced he is taking action to streamline a clean energy project in Fresno that would power up to 300,000 homes.

    The Governor certified the Cornucopia Hybrid Project in Fresno County utilizing a law to build more, faster that was extended in the historic infrastructure package passed in 2023 with the support of the Legislature. The certification means a streamlined process for legal challenges that can otherwise cause long delays.

    “In California, we’re in the ‘how’ business – we’re moving fast to achieve our world-leading clean energy goals. By fast-tracking critical projects like this one in Fresno, we’re creating good-paying jobs, cutting pollution, and building a cleaner, more reliable energy grid to serve Californians for generations.”

    Governor Gavin Newsom

    Why it matters

    • Cleaner, more reliable energy. The Cornucopia Hybrid Project is poised to deliver 300 megawatts (MW) of renewable solar energy and 300 MW of battery storage. This combination will enable the facility to dispatch carbon-free electricity to the grid during peak demand times, including evening and nighttime hours when renewable generation is limited. 
    • Advancing clean energy goals. The project would help California achieve its world-leading climate and clean energy goals, including powering the state with 90% clean electricity by 2035 and 100% by 2045.
    • Spurring economic growth and creating jobs. The project will generate essential tax revenues for local schools, infrastructure, and emergency services, while boosting the economy with construction and long-term operational jobs.
    • Prioritizing safety. The project aligns with California efforts focused on proactively addressing safety for battery storage systems through comprehensive state-level collaborations and regulatory updates. Governor Newsom recently convened a state-level collaborative to find opportunities to improve safety as the technology continues to evolve. Key initiatives include an update to the California Fire Code happening this year, expected to include enhanced BESS safety standards. 

    A swift path to clean energy

    • SB 7 (2021) allows the Governor to certify eligible clean energy and green housing projects for judicial streamlining under the California Environmental Quality Act (CEQA). This key tool to cut red tape was extended in 2023’s SB 149.
    • Courts must decide CEQA challenges to certified projects within 270 days to the extent feasible – saving months or even years of litigation delays after a project has already passed environmental review, while still allowing legal challenges to be heard.

    How we got here

    • Governor Newsom signed into law a package of bills to accelerate critical infrastructure projects across California that will help build our 100% clean electric grid, ensure safe drinking water and boost the state’s water supply, and modernize our transportation system.
    • By streamlining permitting, cutting red tape, and allowing state agencies to use new project delivery methods, these new laws will maximize taxpayer dollars and accelerate timelines of projects throughout the state, while ensuring appropriate environmental review and community engagement.
    • Over the next ten years, the package will take full advantage of an unprecedented $180 billion in state, local, and federal infrastructure funds and create an estimated 400,000 good-paying jobs. Already, California has put $109 billion to work, creating over 200,000 jobs.
    • Find projects building your community at build.ca.gov. 

    Press Releases, Recent News

    Recent news

    Mar 18, 2025

    News Sacramento, California – Governor Gavin Newsom today issued a proclamation declaring March 17, 2025 through March 23, 2025, as Women’s Military History Week. The text of the proclamation and a copy can be found below: PROCLAMATION From the Revolutionary War to…

    Mar 18, 2025

    News What you need to know: California will provide a total of $2.4 billion in utility bill credits this year thanks to the state’s Cap-and-Trade program that funds critical climate action. SACRAMENTO – Today, Governor Gavin Newsom announced millions of Californians…

    Mar 18, 2025

    News What you need to know: Governor Newsom and Los Angeles community-based organizations (CBOs) today announced $25 million to advance educational outreach to workers and businesses about vital health, safety, and workplace protections. LOS ANGELES — As rebuilding in…

    MIL OSI USA News –

  • MIL-OSI Economics: Members discuss role of digital industrialization, technology transfer in enhancing e-commerce

    Source: WTO

    Headline: Members discuss role of digital industrialization, technology transfer in enhancing e-commerce

    Members raised various enablers of digital industrialization, including connectivity, the availability of both digital and physical infrastructure, digital skills development, the regulatory environment and capacity building. Members also presented examples of how regional cooperation and partnerships can promote digital trade and technology transfer to developing economies in key areas such as payment services, cybersecurity, capacity building and bridging the digital divide.
    The WTO’s role in collaborating with development partners and international organizations was also discussed. Members recognized the importance of identifying technologies that can help bridge the digital divide as well as exploring financing opportunities that can help small and medium sized enterprises access digital trade.
    Members noted the need for tailored technical assistance to enhance expertise on e-commerce and related policies- They also underlined the importance of examining the impact of artificial intelligence (AI) on e-commerce, with a particular focus on areas such as data protection and intellectual property issues.
    The Facilitator, Ambassador Richard Brown of Jamaica, informed members that consultations will be held in June to gather members’ views on the way forward for the Work Programme, including actionable recommendations for the upcoming 14th Ministerial Conference (MC14). Additionally, he announced that the next dedicated session in April will address the role and impact of AI and frontier technologies on e-commerce.
    In May, members will have the opportunity to discuss the moratorium on imposing customs duties on electronic transmissions, building on discussions held by members late last year.

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  • MIL-OSI Economics: Colombia formally accepts Agreement on Fisheries Subsidies

    Source: World Trade Organization

    DG Okonjo-Iweala said: “I am grateful for Colombia’s formal acceptance of the Agreement on Fisheries Subsidies. As an active participant in fisheries subsidies discussions at the WTO, Colombia has consistently demonstrated its commitment to advancing ocean sustainability and safeguarding the livelihoods of those who depend on it. Colombia’s ratification marks another important step as we work together to implement this historic agreement. I call on those members who have not yet ratified to swiftly follow suit — we only need 18 for the Agreement to enter into force and begin to deliver its benefits for people and the planet.”

    Ambassador Bustamante said: “Colombia’s formal acceptance of the WTO Agreement on Fisheries Subsidies symbolizes the country’s commitment to the conservation of marine resources, and the impetus for more sustainable and equitable fisheries within the framework of clear and predictable multilateral rules. This Agreement, the first in the history of the Organization to have an environmental and sustainability focus, establishes disciplines to limit high-seas subsidies, to intensify efforts to combat illegal, unreported and unregulated (IUU) fishing, and to reduce harmful subsidies that have a negative impact on fish stocks and marine ecosystems. The Agreement also recognizes the importance of preserving the regulatory space necessary to promote sustainable fisheries and support artisanal fishers, whose livelihood is directly dependent on the health of the oceans.”  

    “By depositing the instrument of ratification of the Agreement, Colombia not only reaffirms its commitment to sustainable development and the responsible management of fisheries resources but also contributes to the revitalization of a rules-based multilateral trading system, promoting greater certainty, transparency and fairness in global trade. This action reflects the country’s determination to contribute to the establishment of fairer conditions in the fisheries sector and in the adoption of trade practices aligned with the principles of sustainability and environmental conservation.” Ambassador Bustamente said.

    Colombia’s instrument of acceptance brings to 93 the total number of WTO members that have formally accepted the Agreement. Eighteen more formal acceptances are needed for the Agreement to come into effect. The Agreement will enter into force upon acceptance by two-thirds of the membership.

    Adopted by consensus at the WTO’s 12th Ministerial Conference (MC12), held in Geneva on 12-17 June 2022, the Agreement on Fisheries Subsidies sets new, binding, multilateral rules to curb harmful subsidies, which are a key factor in the widespread depletion of the world’s fish stocks. In addition, the Agreement recognizes the needs of developing economies and least-developed countries and establishes a fund to provide technical assistance and capacity building to help them implement the obligations.

    The Agreement prohibits subsidies for illegal, unreported and unregulated (IUU) fishing, for fishing overfished stocks, and for fishing on the unregulated high seas.

    Members also agreed at MC12 to continue negotiations on outstanding issues, with a view to adopting additional provisions that would further enhance the disciplines of the Agreement.

    The full text of the Agreement can be accessed here. The list of members that have deposited their instruments of acceptance is available here. Information for members on how to accept the Protocol of Amendment is available here.

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    MIL OSI Economics –

  • MIL-OSI Europe: Answer to a written question – Norway-EU electricity link and prices – E-000079/2025(ASW)

    Source: European Parliament

    The Commission notes the new measures related to the electricity prices and the Norwegian power market announced by Prime Minister Jonas Gahr Støre.

    As a member of the European Economic Area (EEA), Norway is part of the single market and Union rules on electricity markets apply in all circumstances.

    The EU expects, in line with their obligations under the EEA Agreement, all EEA EFTA (European Free Trade Association) States to fully incorporate into the EEA Agreement and then implement all energy-related legislation in a timely manner, subject to any agreed adaptations.

    The Commission continues to work closely with the three EEA EFTA States on the full and timely incorporation and implementation of all energy-related legislation.

    Norway is connected with Sweden, Finland, and Denmark in a common synchronous power grid. The Nordic grid is then connected to the rest of Continental Europe bringing mutual economic and social gains stemming from interconnected energy markets, such as enabling decarbonisation and increasing security of supply.

    On 26 February 2025, the Commission adopted an Action Plan for affordable Energy[1] setting actions to lower energy costs for European consumers and businesses.

    As outlined in that plan, a swift and full implementation of the Electricity Market Design reform is crucial to reduce the impact of volatility on consumer bills and reduce the cost of electricity supply.

    As part of this plan, the Commission is also proposing additional actions to promote the uptake of long-term electricity supply and boost flexibility and demand response.

    • [1] Action Plan for Affordable Energy: Unlocking the true value of our Energy Union to secure affordable, efficient and clean energy for all Europeans COM (2025) 79 final.
    Last updated: 19 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – World Trade Organization’s concerns regarding the EU’s F-gas Regulation – E-000401/2025(ASW)

    Source: European Parliament

    Regulation (EU) 2024/573[1] on fluorinated greenhouse gases (F-gases), contains a few restrictions covering all F-gases, i.e. including hydrofluoroolefins (HFOs).

    Such restrictions were only introduced for applications for which alternatives are available and the restrictions have a long transition period, allowing the industry sufficient time to adjust. The Impact Assessment covered such alternatives.

    Some F-gases are per- and polyfluoroalkyl substances (PFAS). PFAS are chemicals which are very persistent and potentially have negative effects on health and the environment.

    Recital (7) of the regulation includes a reference to the full F-gas prohibitions in line with the precautionary principle, to ensure that alternatives which are less harmful for health, the environment and the climate would be used.

    The F-gas Regulation delivers high ambition, while respecting the EU’s international obligations. The Commission is in regular contact with third countries to clarify this, both in the World Trade Organisation and through bilateral contacts.

    The Commission intends to carry out the review of the F-gas Regulation by 2030, in line with the requirements of that regulation.

    As required in Article 35(5)(a) of the regulation, the Commission will in that review evaluate whether cost-effective, technically feasible, energy-efficient, sufficiently available and reliable alternatives exist, which make the replacement of fluorinated greenhouse gases possible in the products and equipment listed in Annex IV covered by prohibitions that have not yet become applicable at the time of the evaluation, especially products and equipment subject to full fluorinated greenhouse gas prohibitions, including ‘split’ air conditioners and heat pumps.

    • [1] https://eur-lex.europa.eu/eli/reg/2024/573/oj/eng

    MIL OSI Europe News –

  • MIL-OSI Global: How Canadian small businesses can expand into Asian markets and reduce their dependence on the U.S.

    Source: The Conversation – Canada – By Michael Joseph Dominic Roberts, Associate Dean & Associate Professor, Faculty of Business and Communications Studies, Mount Royal University

    The recent escalation of trade tensions under United States President Donald Trump has significantly increased uncertainty for Canadian SMEs (small- and medium-sized enterprises), particularly in the high-value service sector.

    Examples of this sector include financial technology and investment services, aerospace and advanced manufacturing, and clean technology sectors focused on renewable energy and sustainable resource management.

    For decades, Canadian businesses have relied on a stable trade relationship with the U.S. But under Trump’s “America First” protectionist policies, that stability has crumbled.

    With tariffs, trade barriers and shifting political dynamics making North American markets increasingly unpredictable, many Canadian businesses are searching for ways to reduce their dependence on the U.S. and expand elsewhere.

    Expanding into Asia

    Asia has emerged as an attractive alternative for businesses due to its rapidly expanding middle class, growing investments in infrastructure and technology, and rising demand for specialized expertise.

    This trend is particularly evident in the energy sector. The Asia-Pacific region — though currently accounting for only eight per cent of the global market — is expected to grow significantly as countries expand energy infrastructure and seek advanced technologies to improve resource extraction for environmental sustainability.



    Read more:
    Trump’s tariff threat is a sign that Canada should be diversifying beyond the U.S.

    This presents promising growth opportunities for Canadian businesses in sectors like engineering consulting, technology, energy and environmental services, where they already have a competitive edge.

    However, entering Asian markets presents unique challenges, requiring businesses to rethink their strategies.

    Breaking into Asian markets

    Expanding into Asian markets is no easy task for SMEs. These businesses face substantial barriers, including significant differences in regulatory environments, business practices and customer expectations.

    For service-based businesses, the challenge is even greater. Unlike physical products, which can be easily displayed and tested, services are harder to quantify and prove to new clients. This makes it more difficult for SMEs to build credibility and demonstrate their value in unfamiliar markets.

    Our recent study explored how Canadian SMEs in the service sector can successfully overcome these barriers when entering Asian markets like China, India and South Korea.

    We brought together industry experts, government officials and senior executives from SMEs already operating successfully in Asia for a two-day workshop. We analyzed their firsthand experiences, challenges and recommendations to develop a clear and actionable framework called the 4P strategy (potential, proposition, presence and policy).

    These four steps offer SMEs a structured approach to understanding local conditions, differentiating offerings, establishing trusted partnerships and gaining government support.

    1. Potential: Understand the local market

    SMEs must understand Asian market regulations, business culture and market structures. Unlike North America’s relatively stable environment, Asian markets often feature rapidly evolving regulations and unpredictable policy changes.

    Businesses should balance these regulatory uncertainties against economic opportunities and be prepared to swiftly adapt when necessary. For example, policy changes in Asian markets, such as shifting foreign investment regulations or evolving environmental standards, can create uncertainty for SMEs operating abroad.

    Companies must remain agile to navigate regulatory shifts while leveraging the relative economic stability of the region.

    Patience and flexibility are also critical. In many Asian markets, business deals take longer to close due to hierarchical, relationship-driven decision-making. SMEs should anticipate these extended timelines and factor them into their planning.

    Our study found that deals that might be finalized quickly in North America can take years to develop in Asia, requiring firms to exercise patience before realizing significant profits. Successful market entry depends on a long-term approach and the ability to adapt to extended gestation periods.

    2. Proposition: Adapt services to fit local needs

    SMEs need to localize their offerings beyond language translation, adapting their branding, marketing and customer-engagement strategies to fit local contexts.

    A clearly defined and differentiated service offering is critical. Businesses must clearly define what sets them apart from local competitors and ensure their services address specific market needs.

    Pricing strategies should also align with local market expectations. Many Asian markets, especially in business-to-business services, are highly price-sensitive. SMEs must balance competitive pricing with value.

    In some cases, businesses may need to use performance-based pricing models — where clients pay based on results rather than a fixed fee — to remain competitive while protecting profit margins.

    3. Presence: Build a local network and partnerships

    A strong local presence is vital for success in Asia. SMEs should invest in trusted local partnerships or regional offices to build credibility, facilitate smoother operations and better understand local customer needs.

    Relationships play a central role in doing business in Asia. Unlike in North America, where successful transactions often lead to partnerships, in Asia, relationships must be built first.

    This relationship-first approach is deeply embedded in business culture, requiring firms to prioritize long-term engagement over immediate gains. Research has shown that trust-building is essential for long-term success in Asian markets, as strong relationships ultimately lead to transactions.

    Canadian SMEs entering these markets should be prepared to shift their approach, recognizing that sustained commitment and relationship-building are key to unlocking business opportunities.

    4. Policy: Take advantage of government support

    Many Canadian SMEs underestimate the extent of available government support and miss out on resources that reduce risks and make it easier to establish a foothold abroad.

    Our study found that SMEs expanding to Asia can access valuable support from government departments and trade commissioners at Canadian embassies. In energy services subsectors, government and non-governmental organizations can assist SMEs in forming partnerships with Asian firms.

    Additionally, agencies like Export Development Canada offer training, financial support and market-entry resources that many SMEs overlook. Taking advantage of these programs can help businesses navigate regulatory challenges and accelerate their international expansion.

    Government-backed programs also support research, development and technology adaptation to help businesses tailor their services to local markets. Our study found that making use of these resources reduces barriers, lowers entry risks and significantly enhances businesses’ likelihood of success in Asia.

    Seizing the opportunity

    Rather than merely serving as an alternative to the increasingly restrictive U.S. market, Asia presents significant growth opportunities for Canadian SMEs but demands strategic patience, adaptability and sustained commitment.

    However, success in Asia won’t come overnight. Unlike the relatively familiar North American market, expanding into Asia requires a patience, adaptability and a willingness to learn a different business culture.

    By adopting the 4P strategies, Canadian businesses can effectively navigate market-entry barriers and position themselves for success in an era of shifting global trade dynamics.

    Etayankara Muralidharan receives funding from Social Sciences and Humanities Research Council (SSHRC).

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

    – ref. How Canadian small businesses can expand into Asian markets and reduce their dependence on the U.S. – https://theconversation.com/how-canadian-small-businesses-can-expand-into-asian-markets-and-reduce-their-dependence-on-the-u-s-251991

    MIL OSI – Global Reports –

  • MIL-OSI USA: MEDIA ADVISORY: House Foreign Affairs Subcommittee on the Western Hemisphere Hearing

    Source: US House Committee on Foreign Affairs

    Media Contact 202-226-8467

    WASHINGTON, D.C. – The House Foreign Affairs Subcommittee on the Western Hemisphere will hold a public hearing titled, “INL Should Fight Crime, Not Fight Conservatives” on Wednesday, March 26, 2025.

    What: House Foreign Affairs Subcommittee on the Western Hemisphere Hearing

    Date: Wednesday, March 26, 2025

    Time: 2:00 p.m. ET

    Location: 2200 Rayburn

    Subject: INL Should Fight Crime, Not Fight Conservatives

    Witnesses:

     

    Ms. Chelsa Kenney

    Director 

    International Affairs and Trade

    U.S. Government Accountability Office

    Mr. Rodrigo Arenas

    Editor in Chief

    Republica.com

    ***Check here for updates. The hearing will be webcast live here and open to the public and press. Members of the media who would like to attend in-person should RSVP with Joe Clark at joseph.clark@mail.house.gov by 5 p.m. Tuesday, March 25, 2025. ***

    MIL OSI USA News –

  • MIL-OSI: BSN Finance Outperforms the Competition—Voted Best Australian Trading Company

    Source: GlobeNewswire (MIL-OSI)

    Singapore, March 19, 2025 (GLOBE NEWSWIRE) — In a defining moment for Australia’s financial sector, BSN Finance has been named the Best Australian Trading Company, solidifying its reputation as a market leader in cutting-edge trading solutions. This recognition comes as BSN Finance continues to outperform competitors, providing investors with powerful analytics, seamless execution, and data-driven market insights.

    As the demand for high-performance trading platforms grows, BSN Finance has emerged as the top choice for traders and investors across Australia, thanks to its advanced technology, real-time stock indicators, and institutional-grade execution speeds.

    A Market Leader in Trading Innovation

    Winning the title of Best Australian Trading Company is a testament to BSN Finance’s commitment to delivering cutting-edge solutions for stock market investors. The platform’s award-winning technology integrates:

    • Real-time stock analytics to help investors identify optimal trade opportunities.
    • High-speed execution capabilities, reducing slippage and maximizing returns.
    • Smart risk management tools for greater portfolio stability.
    • Customizable trading dashboards, tailored for Australian market conditions.

    By leveraging machine learning, advanced data analysis, and automated trading insights, BSN Finance ensures investors gain a competitive edge in stock trading.

    Why Australian Investors Prefer BSN Finance

    With a strong focus on the Australian Securities Exchange (ASX), BSN Finance provides localized insights and market-specific trading tools that help traders navigate the Australian stock market with precision.

    Unlike global platforms that cater to multiple regions, BSN Finance is uniquely designed to meet the needs of Australian investors, ensuring optimized trade execution, relevant stock data, and real-time analysis tailored for the ASX.

    This localized approach has driven a surge in user satisfaction, with traders praising the platform’s efficiency, accuracy, and ease of use.

    What Traders Are Saying About BSN Finance

    The impact of BSN Finance is best reflected in the experiences of its growing community of traders:

    Michael T., Sydney – “I’ve used multiple trading platforms, but BSN Finance is by far the best. The real-time stock indicators have helped me make smarter investment decisions, and the execution speed is unmatched!”

    Samantha L., Melbourne – “As a long-term investor, I rely on accurate market insights. BSN Finance gives me the data I need to analyze trends effectively, and their risk management tools have made my portfolio much more secure.”

    Daniel R., Brisbane – “I was skeptical about switching platforms, but BSN Finance has exceeded my expectations. The depth of market data and seamless interface make trading easier and more efficient than ever!”

    Emily K., Perth – “I love how BSN Finance is built for Australian traders. Their ASX-focused analytics are a game-changer, and I finally feel like I have the tools I need to trade with confidence.”

    Setting the Benchmark for Trading Technology

    As trading technology continues to evolve, BSN Finance remains committed to pushing the boundaries of market intelligence and execution performance. By focusing on data-driven trading solutions, the platform ensures that Australian investors have access to world-class tools and real-time insights to stay ahead of the market.

    The recognition as Best Australian Trading Company is a reflection of BSN Finance’s dedication to continuous improvement, innovation, and investor success.

    About BSN Finance

    BSN Finance is a premier financial technology company, providing advanced trading solutions for Australian investors. With a focus on market analytics, portfolio management tools, and cutting-edge execution technology, the platform is designed to help traders maximize their performance in the stock market.

    The MIL Network –

  • MIL-OSI USA: Senators Coons, colleagues introduce bipartisan bill to strengthen medical supply chains

    US Senate News:

    Source: United States Senator for Delaware Christopher Coons
    WASHINGTON – U.S. Senators Chris Coons (D-Del.), Thom Tillis (R-N.C.), John Cornyn (R-Texas), and Michael Bennet (D-Colo.) introduced the Medical Supply Chain Resiliency Act, bipartisan legislation to jump start trade negotiations to ensure that hospitals, doctors, and patients have access to critical medical goods. U.S. Representatives Brad Schneider (D-Ill.) and Nicole Malliotakis (R-N.Y.) introduced companion legislation in the House. 
    “Life-threatening shortages of testing kits, drugs, and masks during the COVID-19 pandemic showed us just how fragile our medical supply chains are. If we are caught off-guard like we were during COVID once again, more Americans will die,” said Senator Coons. “Working with our most trusted trading partners to make our supply chains more resilient will strengthen our response to future public health emergencies while ensuring that health care providers have access to essential medical products and patients have access to life-saving care.”
    “The Medical Supply Chain Resiliency Act is a critical step toward ensuring that America’s healthcare providers have reliable access to the essential supplies they need,” said Senator Tillis. “By strengthening trade partnerships with our allies and expanding domestic manufacturing, we can enhance our nation’s preparedness for future health challenges. I’m proud to support this bipartisan effort to reinforce our medical supply chains and protect public health.” 
    “America’s medical supply chains rely heavily on China, posing risks to U.S. national security and public health,” said Senator Bennet. “Our bipartisan bill will address this vulnerability by authorizing the president to deepen relationships with our trading partners.”
    “During the pandemic, the U.S. faced severe shortages of medical supplies due to overreliance on foreign adversaries like China,” said Senator Cornyn. “This legislation would allow the U.S. to engage in trade negotiations with trusted allies for medical goods and services, helping ensure we’re better prepared to respond to future global health crises.”
    “The Medical Supply Chain Resiliency Act is the type of positive approach to trade America must embrace to deepen its economic partnerships with key allies,” said Brad Wood, Senior Director for Trade and Innovation Policy, National Foreign Trade Council.“By empowering the United States Trade Representative to negotiate new agreements with trusted trade partners, the United States has the opportunity to strengthen supply chain security, support U.S. innovation and jobs, and, ultimately, improve health outcomes. It is critically important that the United States collaborate with its allies to support the public health demands of our populations and prepare to meet the challenges of the next global health emergency. NFTC applauds Senators Tillis, Coons, Cornyn, and Bennet for championing this legislation, and urges Congress to support its swift passage.”
    “Premier commends Senators Thom Tillis, Chris Coons, John Cornyn and Michael Bennet and Representatives Brad Schneider and Nicole Malliotakis for their bipartisan leadership in reinforcing the resilience of our nation’s healthcare supply chain,” said Soumi Saha, Senior Vice President of Government Affairs, Premier Inc. “Building a stronger, more sustainable, and secure supply chain demands a balanced approach – expanding domestic manufacturing while fostering strategic trade partnerships. The Medical Supply Chain Resiliency Act is a critical step toward this goal by enabling the designation of trusted trade partners to diversify sourcing for medical devices and pharmaceuticals. Ensuring providers have reliable access to the essential supplies needed to deliver quality patient care is a paramount priority for our nation.”
    “The Chamber strongly supports the Medical Supply Chain Resilience Act, which will strengthen supply chains for medical goods and services while bolstering manufacturing in the U.S. and among our close allies and partners,” said John Murphy, Senior Vice President for International Policy, U.S. Chamber of Commerce. “Enhancing the resilience of medical supply chains is important to both our public health and our national security. The bill would direct the U.S. Trade Representative to negotiate trade agreements with trusted allies to eliminate tariffs and other trade barriers that weaken the U.S. medical goods manufacturing base and that of our allies. These agreements would also support intellectual property protection, regulatory cooperation, and collaboration on public and private R&D efforts. Only close allies and partners would qualify for such agreements. Close consultation with the legislative branch would be essential, and Congress would retain a right to disapprove any agreements. This is practical legislation that, if enacted, will apply lessons learned in the COVID-19 pandemic to strengthen America’s health preparedness. The Chamber urges Congress to pass it into law.”
    “Authorizing the administration to negotiate meaningful trade agreements with trusted partners, including the European Union, Japan, Switzerland, and the United Kingdom, would reduce trade barriers and strengthen medical supply chains. The biopharmaceutical industry, whose exports exceeded $101 billion in 2023, welcomes the Medical Supply Chain Resiliency Act and encourages the administration to embrace this pathway to expand trade with allies,” said PhRMA. 
    The COVID-19 pandemic presented significant challenges for supply chains around the world, disproportionately hampering health care providers’ access to medical devices, treatments, and equipment at a time when these products were desperately needed. By expanding U.S. engagement with our allies across the globe, this legislation would combat shortages of medical products and supplies by strengthening supply chain resiliency and safeguarding against future health crises. 
    You can read the full text of the bill here.

    MIL OSI USA News –

  • MIL-OSI: Pushpay Announces Leadership Transition and the Appointment of Kenny Wyatt as New CEO

    Source: GlobeNewswire (MIL-OSI)

    REDMOND, Wash., March 19, 2025 (GLOBE NEWSWIRE) — Pushpay, the leading payments and engagement solutions provider for mission-driven organizations, announces the appointment of Kenny Wyatt as CEO, leading Pushpay into its next chapter of innovation to strengthen connections, enhance generosity, and empower ministries with transformative technology. This planned leadership transition comes as current CEO, Molly Matthews, transitions into a new role as Senior Advisor to the Board on April 1, 2025, which is when Wyatt will take the helm as Pushpay’s CEO.

    “Serving as CEO of Pushpay has been one of the greatest privileges of my career. While this transition marks a new chapter for me personally, my advisory role supports my commitment to the company’s long-term vision and continued success,” said Matthews. “Kenny has already made a tremendous impact since joining Pushpay, and his vision for our company is inspiring and bold. His deep passion for the Church, customer-centric leadership, and commitment to our mission makes him the right leader to propel Pushpay into the future.”

    Currently serving as Pushpay President, Wyatt is an accomplished leader with a diverse background in technology, telecom, and faith-tech industries. He has held leadership roles at major corporations such as Bank of America, Sprint, Vonage, CenturyLink, and was previously CEO at think-cell. More notably, Wyatt previously served as the Chief Operating Officer at Faithlife and has a deep understanding of the needs of the Church. He is eager to weave together his professional expertise with his personal passion for ministry as he steps into the CEO role at Pushpay. He resides in Castle Rock, CO, with his family and is actively involved in their local church, in addition to global ministry programs. Wyatt will be based out of Pushpay’s Colorado Springs office, while maintaining an active presence at the company’s headquarters in Redmond, Wa.

    “I’ve followed the Pushpay journey for quite some time and am honored for the opportunity to lead Pushpay into the future,“ said Wyatt. “Pushpay is undoubtedly the leader in our category, but I truly believe we’re just getting started. As ministry leaders navigate a rapidly evolving digital landscape, it’s a privilege to be at the forefront of technology innovation that enables them to expand their reach, deepen engagement, and serve their communities more effectively.”

    Over the years, Pushpay has played a pivotal role in helping lead the digital transformation of the Church, reshaping how mission-driven organizations connect, give, and engage with their communities. As CEO, Wyatt aims to build on Pushpay’s long-standing foundation, focusing immediate efforts on meeting the evolving needs of the Church through modernized customer support and bold product innovation.

    To support this strategy, today Pushpay is also pleased to announce Gruia Pitigoi-Aron has joined the Company as its Chief Product Officer. Pitigoi-Aron brings more than two decades of experience in product leadership, including a 10-year tenure at The Trade Desk, where he led the product and UX teams to create the leading independent demand side platform in ad-tech. He has dedicated time to serve on nonprofit boards that align with his personal and professional passions including current leadership at Redeem International, Mount Hermon Camp and Conference Center, and is actively involved in his local church as an elder.

    “Pushpay’s mission deeply resonates with me personally and I’m honored to join a team that’s passionate about serving the Church and committed to delivering solutions that empower ministries to grow and thrive,” said Pitigoi-Aron. “As we look to the future, our team has an ambitious vision for the future of our products, rooted in serving the needs of ministry leaders and their community.”

    Gratitude for an Era of Impact
    During Matthews’ tenure, both as CEO and Chief Customer Officer, Pushpay has solidified its position as a market leader in church engagement technology, expanding its ChMS, giving, and engagement solutions through key acquisitions, including Church Community Builder and Resi Media. These strategic additions have enabled churches to seamlessly manage their ministries, enhance digital engagement, and reach their communities through high-quality livestreaming and analytics-driven insights. Today, Pushpay technology facilitates nearly 1.3 million moments of connection each week, helping churches and nonprofits foster deeper relationships and maximize their impact. As she joins Pushpay’s Senior Advisory Board, Matthews will continue to provide strategic guidance, leveraging her expertise to support the ongoing success of Pushpay and its more than 14,000 customers. To learn more about Pushpay and the transition, visit www.pushpay.com.

    About Pushpay
    Pushpay empowers mission-driven organizations to engage their communities by bringing people together and fostering meaningful connections. Through its innovative suite of products, Pushpay helps create cultures of generosity by streamlining donation processes, enhancing communications, and strengthening relationships. Pushpay’s purpose-built ministry solutions include ChurchStaq, ParishStaq, Pushpay Insights, Resi, and more – all designed to simplify operations and provide data-driven insights to support the mission of its customers. Whether managing donations, organizing events, or connecting with community members, Pushpay’s integrated tools enable ministry leaders to focus on what matters most – growing their ministry and deepening engagement. For more information visit www.pushpay.com.

    US Media / PR Contact: Chelsea Looney PR@pushpay.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/680296c6-1a11-47a9-8e08-89e56ff74260

    The MIL Network –

  • MIL-OSI Canada: The CBSA launches investigations into the alleged dumping of polyethylene terephthalate (PET) resin from China and Pakistan and its subsidization by China

    Source: Government of Canada News

    March 19, 2025
    Ottawa, Ontario

    The Canada Border Services Agency (CBSA) announced today that it is initiating investigations to determine whether polyethylene terephthalate (PET) resin originating in or exported from China and Pakistan is being sold at unfair prices in Canada and whether PET resin originating in or exported from China is being subsidized. These practices can harm Canadian industries by undercutting Canadian prices, which undermines fair competition.

    The CBSA is investigating because of a complaint filed with the CBSA by Compagnie Alpek Polyester Canada (Alpek). Alpek alleges that as a result of an increase in the volume of the dumped and subsidized imports, they have suffered material injury in the form of price undercutting, price depression, lost sales, lost market share, reduced net income and profitability, and reduced employment.

    The CBSA and the Canadian International Trade Tribunal (CITT) both play a role in the investigations. The CITT will begin a preliminary inquiry to determine whether the imports are harming Canadian producers and will issue a decision by May 16, 2025. Concurrently, the CBSA will investigate whether the imports are being sold in Canada at unfair prices and/or are being subsidized, and will make a preliminary decision by June 17, 2025.

    Currently, there are 158 special import measures in force in Canada, covering a wide variety of industrial and consumer products. These measures have directly helped to protect approximately 31,000 Canadian jobs and $11.6 billion in Canadian production.

    MIL OSI Canada News –

  • MIL-OSI: Westland Insurance unveils new benefits brand: Westland Benefits

    Source: GlobeNewswire (MIL-OSI)

    Surrey, BC/Territories of the Coast Salish (Kwantlen, Katzie, Semiahmoo, Tsawwassen First Nations), March 19, 2025 (GLOBE NEWSWIRE) — Westland Insurance is proud to announce the launch of its new benefits brand, Westland Benefits, in BC, effective April 1, 2025. This launch marks a significant milestone in Westland’s continued growth, uniting its acquired benefits firms under one powerful national brand to better serve businesses across Canada.  

    Westland Benefits combines the personalized service and deep expertise of a boutique advisory firm with the scale, resources, and market influence of one of Canada’s largest insurance brokerages – offering employers of all sizes tailored, end-to-end benefits solutions.  

    Westland Insurance has appointed Matt Mann as the President of Westland Benefits. With extensive expertise in the benefits space and proven leadership in the insurance industry, Mann will oversee the growth and expansion of Westland Benefits across Canada. 

    “We’re excited to introduce Westland Benefits to BC,” said Jamie Lyons, President & CEO of Westland Insurance. “Over the past few years, we’ve made significant investments to strengthen our Employee Benefits offerings, including acquiring several high-performing advisory firms. Bringing these capabilities together under one unified brand – led by Matt – allows us to better serve our clients, compete more effectively in the market, and drive innovation at scale.”  

    The launch of Westland Benefits positions Westland to deliver a broader suite of benefits solutions – including group life and disability insurance, retirement and savings plans, key person coverage, and holistic wellness programs – to employers across most geographies in Canada. With plans to expand the Westland Benefits brand nationally, the company is poised to become a recognized leader in the Canadian benefits space.  

    “Launching Westland Benefits brand in BC is just the beginning – we’re at a breakthrough stage in terms of developing our national platform,” says Matt Mann, President of Westland Benefits. “I’m excited to lead this next chapter as we expand our operations across Canada. By bringing together our advisory culture, access to national insurance markets, and deep industry expertise, we’re uniquely positioned to help businesses of all sizes build competitive and high impact benefits programs.” 

    As part of this transition, Westland Benefits will bring together the existing operations of Dupuis Langen and Montridge Advisory Group, two highly regarded benefits firms that have played a key role in shaping the company’s success in the space. Clients can expect the same dedicated service and expertise they’ve always received, now under a unified national brand. 

    The introduction of Westland Benefits reinforces Westland Insurance’s commitment to helping Canadian businesses navigate the complex benefits landscape — ensuring organizations have access to innovative, people-focused solutions that drive employee well-being and business success. 

    For more information about Westland Benefits, visit our website.  

    – 30 – 

    About Westland Insurance Group:   

    Westland Insurance Group is one of the largest and fastest growing insurance brokers in Canada. Trading over $4 billion of premium, Westland continues to expand coast to coast. Westland’s brokers provide expertise and advisory-based services across commercial, personal, employee benefits, farm, and specialty insurance segments. The company’s mission is to protect individuals, businesses, and communities across Canada with trusted advice and tailored insurance solutions. As a Canadian-based company, Westland is proud to support local communities, Canadian jobs, and a strong economy. For more information, please visit westlandinsurance.ca.

    The MIL Network –