NewzIntel.com

Category: Transport

  • PM Modi holds wide-ranging talks with Ghana President, signs key MoUs

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Wednesday met Ghanaian President Dr. John Dramani Mahama in Accra, marking the first state visit by an Indian Prime Minister to Ghana in three decades.

    PM Modi was received by President Mahama at Jubilee House, the official residence and office of the Ghanaian President. The two leaders held detailed discussions in restricted and delegation-level formats, agreeing to elevate the bilateral relationship to a Comprehensive Partnership.

    During the talks, both sides reaffirmed the longstanding and cordial ties between India and Ghana and explored ways to deepen cooperation in areas including trade and investment, agriculture, capacity building, digital technology, infrastructure, and people-to-people exchanges.

    PM Modi welcomed the steady growth in bilateral trade and the increasing presence of Indian investments in Ghana. The leaders also discussed steps to strengthen defence and security collaboration, as well as development cooperation through India-supported infrastructure and capacity-building projects.

    India also offered to share its expertise in health, pharmaceuticals, digital public infrastructure, the Unified Payments Interface (UPI), and skill development. PM Modi reiterated India’s commitment to voicing the concerns of the Global South and thanked Ghana for its continued support on this front. He also expressed gratitude to President Mahama for the care extended to the Indian community of around 15,000 people living in Ghana.

    Both leaders exchanged views on global and regional issues of mutual interest, including the need for reforms at the United Nations. The Prime Minister thanked President Mahama for his support and solidarity following the recent Pahalgam attack. The two sides agreed to work together to strengthen the global fight against terrorism.

    PM Modi also congratulated Ghana on its increasing international profile, including its current term on the UN Human Rights Council and the election of Ghana’s Foreign Minister as the Commonwealth Secretary-General. The leaders reiterated their commitment to democratic values, South-South cooperation, and a shared vision for sustainable development and global peace.

    Following the talks, India and Ghana exchanged four Memoranda of Understanding (MoUs) covering Culture, Standards, Ayurveda and Traditional Medicine, and the establishment of a Joint Commission Mechanism to enhance engagement between the two countries’ Foreign Ministries.

    President Mahama hosted a State Banquet in honour of Prime Minister Modi. Thanking him for the warm hospitality, Prime Minister Modi invited President Mahama to visit India at a mutually convenient time.

  • MIL-OSI United Kingdom: PM launches new era for NHS with easier care in neighbourhoods

    Source: United Kingdom – Executive Government & Departments

    Press release

    PM launches new era for NHS with easier care in neighbourhoods

    The Prime Minister launches a new era for the NHS, bringing more easily accessible care closer to home.

    • Prime Minister launches government’s 10 Year Health Plan to bring the NHS closer to home
    • Neighbourhood Health Services to be rolled out across the country, bringing diagnostics, mental health, post-op, rehab, and nursing to people’s doorsteps
    • Neighbourhood health centres will house services under one roof, open at evenings and weekends
    • Plan for Change will rebuild the NHS to train thousands more family doctors, transform hospital outpatient appointments, and provide personalised care plans for complex needs

    Millions of patients will be treated and cared for closer to their home by new teams of health professionals, Prime Minister Keir Starmer will set out today, as the Government’s Plan for Change delivers a brand-new era for the NHS and delivers one of the most seismic shifts in care in the history of the health service.

    The launch of a Neighbourhood Health Service will see pioneering teams, some based entirely under one roof, set up in local communities across the country, to dramatically improve access to the NHS. As part of the Government’s aim to shift care out of hospitals and into the community, they will free up overstrained hospitals from perpetual firefighting so they can focus on delivering only the best, most cutting-edge, and personalised care.

    These neighbourhood health centres will provide easier, more convenient access to a full range of healthcare services right on people’s doorsteps – stopping them from having to make lengthy trip to hospitals. Neighbourhood teams will include staff like nurses, doctors, social care workers, pharmacists, health visitors, palliative care staff, and paramedics. Community health workers and volunteers will play a pivotal role in these teams, and local areas will be encouraged to trial innovative schemes like community outreach door-to-door – to detect early signs of illness and reduce pressure on GPs and A&E.

    Launching the government’s 10 Year Health Plan today, the Prime Minister will set out how moving care from hospitals to the community is one of the three key shifts required to tackle the inherited challenges and neglect of the NHS, make sure it is equipped to look after a modern society, and ensure people feel the change and improvements in healthcare that they voted for.

    Prime Minister Keir Starmer said:

    The NHS should be there for everyone, whenever they need it.

    But we inherited a health system in crisis, addicted to a sticking plaster approach, and unable to face up to the challenges we face now, let alone in the future.

    That ends now. Because it’s reform or die. Our 10 Year Health Plan will fundamentally rewire and future-proof our NHS so that it puts care on people’s doorsteps, harnesses game-changing tech and prevents illness in the first place.

    That means giving everyone access to GPs, nurses, and wider support all under one roof in their neighbourhood – rebalancing our health system so that it fits around patients’ lives, not the other way round.

    This is not an overnight fix, but our Plan for Change is already turning the tide on years of decline with over four million extra appointments, 1,900 more GPs and waiting lists at their lowest level for two years.

    But there’s more to come. This government is giving patients easier, quicker and more convenient care, wherever they live.

    The plan follows Lord Darzi’s diagnosis of the challenges facing the NHS last year where he assessed it was in a ‘critical condition’ as a result of deep rooted issues including low productivity, poor staff morale, a failure to keep up with new technology, rising waiting times, and a deterioration in the health of the nation.

    The PM will set out how the plan will deliver three key shifts to get the NHS back on its feet: hospital to community; analogue to digital; and sickness to prevention. Built around these three principles, the reforms within the plan will deliver the government’s promise to stop rising waiting lists, deliver more convenient care, and tackle inequalities across the country.

    New health centres will house the neighbourhood teams, which will eventually be open 12 hours a day, six days a week within local communities. They will not only bring historically hospital-based services into the community – diagnostics, post-operative care, and rehab – but will also offer services like debt advice, employment support and stop smoking or weight management, all of which will help tackle issues which we know affect people’s health.

    Health and Social Care Secretary Wes Streeting said:

    Our 10 Year Health Plan will turn the NHS on its head, delivering one of the most fundamental changes in the way we receive our healthcare in history.

    By shifting from hospital to community, we will finally bring down devastating hospital waiting lists and stop patients going from pillar to post to get treated.

    This Government’s Plan for Change is creating an NHS truly fit for the future, keeping patients healthy and out of hospital, with care closer to home and in the home.

    The status quo of ‘hospital by default’ will end, with a new preventative principle that care should happen as locally as it can: digital-by-default, in a patient’s home where possible, in a neighbourhood health centre when needed, in a hospital if necessary. This approach will make access to healthcare more convenient for patients and easier to fit around their day to day lives, rather than disrupting people’s work and personal lives.

    Thousands more GPs will be trained under the 10 Year Health Plan, as the Government lays the groundwork to bring back the family doctor, end the 8am scramble and make it easier to see your GP when you need to instead of having to turn to A&E.

    The government inherited an analogue NHS, reliant on paper and fax machines and out of step with modern technology. The government’s plan will bring it into the digital age, making sure staff benefit from the advantages and efficiencies available from new technology. This includes rolling out groundbreaking new tools over the next two years to support GPs. AI scribes will end the need for clinical notetaking, letter drafting, and manual data entry to free up clinicians’ time to focus on treating patients. Saving just 90 seconds on each GP appointment can save the same time as adding 2,000 more doctors into general practice.

    The Government will also use digital telephony so all phone calls to GP practices are answered quickly. For those who need it, they will get a digital or telephone consultation the same day they request it.

    As it stands, some practices are struggling to keep up with an ageing population and 21st century health needs. New contracts will be introduced which encourage and allow practices to cover a wider geographical area. It means smaller practices in the catchment area will get more support to ensure the right access is in place so that everyone can access their GP when they need to.

    Sir James Mackey, Chief Executive, NHS England said:

    The Neighbourhood Health Service is a huge opportunity for us to transform how we deliver care over the next decade – starting right on people’s doorsteps.

    By bringing together a full range of clinicians as one team, we can deliver care that’s more accessible, convenient and better for patients, as well as reducing pressures on hospitals.

    The plan will also deliver on the government’s promise to tackle the current lottery of access to dentists. Dental care professionals will work as part of neighbourhood teams, where Dental therapists could undertake check-ups, treatment, and referrals, while dental nurses could give education and advice to parents or work with schools and community groups. The work therapists cannot do would be safely directed to dentists.

    Under the plan, it will also be a requirement for newly qualified dentists to practice in the NHS for a minimum period, intended to be 3 years.

    Following the government’s work already to roll out supervised toothbrushing for kids, the plan will also improve access to dental care for children, making better use of the wider dental workforce, especially dental therapists, including through a new approach to upskilling professionals to work at the top of their clinical potential beginning in 2026 to 2027. This includes proposals to allow dental nurses to administer fluoride varnish for children in between check-ups, and the greater use of fissure sealants for children – covering back teeth with thin plastic coating to keep germs and food particles out the grooves.

    Matthew Taylor, Chief Executive of the NHS Confederation, said:

    This is a vital step towards a more preventative, community-based NHS. Bringing care closer to people’s homes through blended neighbourhood health teams recognises the complex and interconnected challenges many patients face, and it is the right direction for both improving outcomes and alleviating pressure on hospitals.   

    In many areas of the country, general practices working at scale through primary care networks and GP Federations, are already partnering alongside other organisations to deliver joined up care. It will be important to build on these positive successes.  

    Delivering on this ambition will require sustained investment in digital and estates, support for the NHS’s workforce, and a commitment to decentralise national control by empowering local leaders to do what is best for their populations. On behalf of our members, we are eager to work with the government to help turn this bold vision into lasting change.

    With the 10 Year Health plan the majority of outpatient care will happen outside of hospitals by 2035, by transforming care in the community. New digital tools will allow GPs to refer patients quicker, and a wider range of services available on people’s doorsteps will mean less need to attend appointments in hospital for ophthalmology, cardiology, respiratory medicine, and mental health.

    As a result of this shift to community, hospitals will be able to focus on patients who need hospital care, and get them seen on time again.

    The government’s Plan for Change is already delivering action to cut waiting lists and fix the foundations of the NHS. Waiting lists are at their lowest level in two years, including the first drop in April for 17 years. An extra 4.2million appointments have been delivered since July – over double the government’s target. 10 new surgical hubs have opened since January, and 1,900 more GPs have been recruited since October.

    ENDS

    Further details:

    • Where neighbourhood health teams have been trialled in England, they have significantly reduced hospital use. In Derby, integrated teams led to 2,300 fewer Category 3 ambulance callouts and 1,400 fewer short hospital stays among the over 65 population within a year.
    • The Institute For Public Policy Research has already called for a neighbourhood NHS – arguing a strong primary care sector has been shown to deliver better health outcomes, fewer hospital and emergency department trips, and more efficient healthcare spending.
    • As well as improving access to care for patients, The move to more care in the community will put the NHS back on the path to long-term financial sustainability. A recent study found that £100 spent on community care could achieve, on average, £131 in hospital savings.
    • Care plans are vital to seamless care within the community, but only 20% of people with a long-term condition have one. Through the 10 Year Health Plan, the Government will set a new standard that, by 2027, 95% of people with complex needs have an agreed personal care plan. All care plans should be co-created with patients. This means neighbourhood teams can tailor care for specific patients, working with them and their loved ones to proactively manage their conditions instead of simply reacting and treating emerging issues as is the case under the current system. This is especially important for people with complex needs who are likely to be managing multiple conditions.
    • Unpaid carers will be actively involved in care planning, with family, friends and carers agreeing decisions about care together where appropriate.

    STAKEHOLDER REACTION

    Caroline Abrahams, Charity Director at Age UK said.  

    A Neighbourhood Health Service is at the heart of the NHS 10 Year Plan and it could be a game-changer for our older population if we get it right.

    For far too long healthcare in the community has been fragmented and hard to access and navigate for older people, so crucial opportunities to nip their emerging health problems in the bud get missed.

    At Age UK we aspire to an NHS that proactively supports older people to stay as well as is possible for as long as possible, and if delivered well the Neighbourhood Health Service really could help achieve it.

    Daniel Elkeles, Chief Executive of NHS Providers, said: 

    This plan brings together three key ingredients for success. It provides a renewed focus on what good care will look like for people who depend on the NHS most by investing in GP and new neighbourhood services. 

    It’s a win for patients who will be better informed and empowered to direct their care as never before. 

    And it makes the NHS simpler, ensuring quicker decisions and innovations get to frontline services faster. 

    This is a recipe that offers the prospect of progress where previous plans have faltered. 

    That is a great starting point and all NHS providers will be keen to seize this opportunity to build a better health service that staff, patients and the public are once again proud of.

    Jacob Lant, Chief Executive of National Voices said: 

    The message in today’s plan is clear, for the NHS to thrive services must start to organise themselves around how people and communities actually live their lives.   

    Whether it be through shifting services out of hospitals, making innovative and inclusive use of tech or simply doubling down on getting the basics right, like communicating better with patients, this drive towards user-centred care offers hope for a more efficient and sustainable health service that focuses on patient need and outcomes.   > To ensure no communities are left behind, it is vital that Neighbourhood Health Services look to develop this new offer in partnership with the voluntary sector and the full diversity of citizens that make up the communities they serve.

    Gemma Peters, Chief Executive at Macmillan Cancer Support, said:

    This vision to bring care closer to home is what both the public and the NHS need. 

    3.5 million people are living with cancer today, rising to 4 million by 2030. Without radical change, the NHS cannot meet this growing demand, or ensure that – whoever you are, wherever you live – you can access the care, support and treatment you need when you need it.

    We welcome the Government’s recognition that we now need to mobilise every part of the NHS, communities and the voluntary sector to make sure this Plan succeeds.

    Macmillan is ready to play our part in delivering this vision and the forthcoming National Cancer Plan to ensure everyone has the world class healthcare they deserve.

    Rachel Power, Chief Executive, the Patients Association said:

    We welcome this ambitious transformation set out in the 10 Year Health Plan that delivers on what we called for: integrated, accessible care that is centred on patients’ real lives. Having new neighbourhood health centres open 12 hours a day, six days a week with multidisciplinary teams and clinical and support services under one roof addresses the reality that health challenges don’t exist in isolation.  

    We’re pleased to see the commitment to training thousands more GPs and look forward to a sustainable workforce strategy to support the delivery of these expanded services, along with clarity on how quickly these centres will be rolled out. We remain committed to ensuring genuine patient partnership underpins the design and delivery of these services, so they truly reflect what patients need in their local communities.

    Dr Jeanette Dickson, Chair of the Academy of Medical Royal Colleges said:

    The ambition, scale and innovative approaches set out in the 10 Year Health Plan can only be applauded. It promises a lot and properly implemented, offers an opportunity to revolutionise healthcare.

    It’s clearly not just about getting the NHS back on track, but designing a new healthcare system that’s fit for the challenges of today and tomorrow and one that can work for patients, staff and taxpayers alike. The sheer breadth and scale of what’s been set out will take time to fully digest, but the medical royal colleges are keen and ready to help implement the necessary changes to make this bold vision a reality.

    Katharine Jenner, Director, Obesity Health Alliance said:

    This is a positive step towards the healthier future people want. Obesity is a chronic, relapsing condition that needs long-term support. Crucially, as the Government now rightly recognises, we must also shift to preventing ill health before it starts.

    After years of broken promises, delays and weak voluntary measures, this government must implement their Plan for Change in full this Parliament. Only then we can start to transform our food system – from one that fuels poor health to one that supports good health.

    Real progress means taking mandatory action to tackle the relentless marketing and promotion of unhealthy food, improving access to nutritious options, and making healthy food affordable for everyone, right from the start of life.

    Ravi Gurumurthy, CEO of Nesta, said:

    Nye Bevan’s original vision for the NHS placed prevention at its heart. This plan takes important steps toward realising that ambition. The introduction of a new healthy food standard, alongside ending the sale of cigarettes, are serious interventions that could substantially reduce cases of cancer, heart disease, diabetes and other diseases and narrow health inequalities.

    The shift to a neighbourhood health service has the potential to deliver better care within communities and reduce avoidable hospital admissions.

     Matthew Reed, Chief Executive of Marie Curie, said: 

    We are pleased to see the Government place the needs of patients at the centre of their Plan to reform the NHS, make clear commitments that will help fix the current crisis in palliative and end of life care for local communities, and set out a clear roadmap for creating an NHS that is fit for the future. 

    We look forward to working with them to ensure that additional NHS funding announced in the Spending Review transforms care in the community for people with a terminal illness.

    Dr Charmaine Griffiths, Chief Executive at the British Heart Foundation (BHF), said:

    You can’t upgrade the nation’s health without tackling cardiovascular disease, one of the UK’s biggest killers.

    Today’s ambitious plan lays the foundation for how we can stop more lives lost too soon to heart disease, prevent more heart attacks and strokes, and help more people live with healthier hearts for longer.

    Henry Gregg, Chief Executive of the National Pharmacy Association said:

    The 10,000 NHS pharmacies in England are right in the heart of their communities on high streets, in health centres, close to people’s doorsteps, providing health care and advice to millions every week.

    Pharmacies want to be able to offer better, more joined up care for their communities so they share the Government’s ambition to bring care closer to people.

    It’s important that pharmacies, who already do this work day in day out, are placed at the heart of these plans.

    Investing in pharmacies can create a future where people can drop in for treatment, check ups, medicine reviews, and advice.

    Pharmacies want to work with GPs, social workers and colleagues across the health service to provide better health care, nearer to people’s homes and take pressure off the NHS.

    Janet Morrison, Chief Executive of Community Pharmacy England, said:

    The Government’s plan aligns well with the value that pharmacies can bring and will begin to harness the sector’s potential for the benefit of patients, communities and the wider NHS. Research shows that the public already supports playing community pharmacies playing a bigger role in healthcare services, and the sector has a unique ability to break down barriers to care coupled with an astonishingly strong record on efficiency. 

    But before this plan can become a reality, first the Government must deliver on its commitment to build the sustainable funding model that community pharmacy so desperately needs. The millions of people relying on them every day don’t want to lose their local pharmacies to financial collapse, which is something the Government should carefully consider as it seeks to implement its plan.

    This plan is not the end of the road; it’s just the beginning.

    Updates to this page

    Published 2 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Kingdom of the Netherlands – Curaçao: Staff Concluding Statement of the 2025 Article IV Mission

    Source: IMF – News in Russian

    July 2, 2025

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    Washington, DC.

    Curaçao’s economic activity expanded by 5 percent in 2024, as strong tourism performance trickled into the wider economy. Stayover arrivals, growing at double digits, continued to outperform Caribbean peers and carried over to other sectors, including whole trade, real estate, and construction. Mostly related to holiday homes and hotels, construction was further fueled by strong mortgage growth and complemented by a resumption of public investments under the Road Maintenance Plan. Average headline inflation declined to 2.6 percent in 2024 from 3.5 percent in 2023, in line with global oil prices and lower US inflation. Real wages increased for the first time in five years but job creation continued to be dominated by informal construction and tourism-related sectors while formal employment declined. The primary surplus continued its upward trajectory on the back of increased tax collection on goods and services. The current account deficit widened due to higher merchandise imports, mainly related to construction activity.

    The government is pursuing an ambitious agenda to steer a now tourism-led economy, amidst heightened global uncertainty. Mindful of tourism saturation and a decoupling of local living standards, the authorities strive to improve social conditions while generating sustainable and green growth amid safeguarding solid public finances. The near doubling of the tourism footprint within five years brought profound structural shifts to Curaçao’s economy, including the decline in manufacturing and rise in services, lower overall wages, higher informality, and greater reliance on – more regressive – indirect taxation. Policy responses need to shift accordingly. Priorities are rightly focused on upgrading tourist experiences and diversification, improving skills and labor market conditions, and reforming the tax system in an equitable way while addressing social spending pressures. The administration has delivered on a first round of targeted, one-off pension increases this year, continued reforms to contain health costs, expanded investment in education infrastructure, and came closer to its renewables target with the opening of the latest wind park in 2024. The landspakket, a structural reform package agreed with the Netherlands in 2020, continues to guide structural reforms.

    Outlook and Risks

    Growth is projected to moderate to 4 percent in 2025, balancing domestic impulses and heightened global uncertainty, before gradually converging to 2 percent over the medium term. Further expansion of stayover tourism and construction activity will continue to support growth in 2025, along with fiscal expansion driven by higher public investments. Potential negative effects of slowing global demand and heightened uncertainty would dampen tourism flows towards the end of 2025 and 2026. Growth is expected to moderate to 2 percent over the medium term, given saturation in tourism and slower global demand, while public capital spending would be carried forward, including in road infrastructure and the energy value chain. Headline inflation is projected to stabilize at 2.5 percent in 2025, subject to oil price-related uncertainty. Fiscal accounts would remain in surplus, fully compliant with the fiscal rule, allowing the government to partially settle a large bullet loan in 2025 with own liquid reserves, thereby accelerating the impressive downward trajectory of debt. The current account deficit would decline in the medium term but remain elevated.

    Risks to the outlook are tilted to the downside. External risks include trade policy and investment shocks, which could induce higher inflation and lower external demand, adversely impacting tourism arrivals. Domestic upside risks include faster-than-expected advances in the green hydrogen value chain project and development of other energy sources. On the downside, lower-than-expected disbursements in public investments and delays in infrastructure improvements could set back the expected increase in potential growth from the expansion of hotel capacities. Continued high growth in mortgage credit fueling rising house prices could lead to financial sector as well as household balance sheet vulnerabilities. Buffers include access to favorable refinancing conditions on the Dutch capital market, subject to compliance with the fiscal rule, which grants the island substantial fiscal space, notably for capital and emergency spending.

    Tailoring Fiscal and Structural Policies to a Tourism-led Economy

    Safeguarding Medium-term Fiscal Sustainability

    Reaching the medium-term debt target and further sustaining growth will require weighing the need to boost investments and address social spending pressures while reforming the tax system in an equitable manner.  

    Advancing healthcare reforms is an urgent priority to restore the sector’s financial sustainability and limit medium-term fiscal risks. Annual deficits of the SVB healthcare fund amounted to around 5 percent of GDP over the past years, excluding central government transfers, with an additional 1 percent of GDP annual deficit by the Curaçao Medical Center. Transfers to the latter were recently increased to better cover operating costs and invest in new medical equipment, but the health system’s overall finances remain unsustainable. Curaçao’s health expenses, around 13 percent of GDP, stand out relative to regional peers and surpass the OECD average. Possible efficiency gains on the spending side would include additional volume and price measures for pharmaceuticals, re-evaluation of laboratory service tariffs, further expansion of primary care to contain hospital visits, and improvements in preventive care, with the latter likely to materialize over the longer horizon. Revenue reform options would include a broadening of the contributor base, e.g., via the inclusion of migrant workers, increasing co-payments for higher-income households, allowing for price differentiation for the privately insured, exploring options to charge for add-on services, with a possible secondary, private insurance market for these services, and expanding the potential in medical tourism. 

    The authorities’ plans to adjust pension benefits for lower-income households in a fiscally responsible manner are welcome and should be accompanied by widening the contribution base. Staff welcomes the intention to reassess benefit levels, given the pausing of indexation and a decline in real per capita benefits by 23 percent between 2016 and 2024. Applying inflation indexation to residents’ pensions only would allow for a broadly balanced budget of the old-age pension scheme (before central government transfers). Considerations to providing a supplement for low-income pensioners, which could cost around ½ percent of GDP per year, should be partially financed by broadening the contributor base. Legalizing predominantly young migrant workers and providing incentives for them and their employers to formalize (see below) would increase revenues by about 0.3 percent of GDP. Ensuring longer-term sustainability of social insurances would likely imply tapping general budget resources, which could be expanded with selected measures while avoiding earmarking (see below). Meanwhile, the current draft law to make second-pillar occupational pension plans mandatory would reduce reliance on old-age pensions and increase private savings, which would also help alleviate the sizable current account deficit.

    The authorities envisage the introduction of a VAT while continuing the modernization of the tax authority and improving revenue collection. Given Curaçao’s already significant tax burden and the recent expansion of direct taxation from a pre-pandemic average of 11 percent of GDP to 14 percent of GDP in 2024, plans to design the envisaged VAT reform in a revenue-neutral and equity-enhancing way are welcome. Expanding property taxation on second homes should be prioritized, as well as the purchase and implementation of digital infrastructure to modernize Curaçao’s tax system. Further considerations to introduce a tourism fee (by 2026), end tax holidays on import duties, and adjust permitting fees would lift revenues and contribute to compensating for potential pension increases.

    Further efforts are needed to boost investments and improve government service delivery. While capacity constraints were successfully addressed in the ramp-up of investments in 2024, including by hiring external project managers, capacity in planning and execution must be strengthened further to administer the needed investment increase of 2-3 percent of GDP in the coming years, including via a centralized investment planning unit. Implementing multi-year project budgeting and establishing a transparent procurement system will be critical to improve execution, ensure the efficient allocation of financing resources, and grant space to a gradual inclusion of adaptation investments against damage from sea level rise. Efforts to render health and pension spending as well as goods and services taxation more equitable hinge on improving means-testing and maintaining a state-of-the-art registry for lower-income households.  

    Labor Market Policies to Address Informality and Improve Education

    Informality could be addressed by strengthening incentives for formal work, improving enforcement and monitoring, and tightening eligibility criteria for receiving benefits. Decomposing changes in the formal workforce over the past decade, the strong decline in formal employment was mostly driven by a drop in registered jobs among men, especially in prime working age. Half of this decline cannot be explained by demographics, migration, or unemployment, and is likely attributed to the transition to informality. Tourism and construction sectors offer relatively more opportunities for informal work, making it harder to design the right incentives for formalization. Incentivizing formality, however, is crucial to maintaining government revenues and ensuring social protection for workers, and could be fostered by: facilitating access to education, increasing formal sector productivity, introducing more in-work benefits for workers with incomes between minimum and median wage, and stricter eligibility criteria for monthly assistance, along with strengthening enforcement and monitoring.

    Skill deterioration compounded by population aging is a key drag on long-term potential growth. The 2023 census showed that education levels of new entrants to the labor force are below the level of the pre-retirement cohort, and young employees tend to work in more precarious positions. Ongoing investments in education, in line with landspakket recommendations, including in schools’ physical as well as digital infrastructure, are very welcome. Recent initiatives to attract graduates back to the island, including with tax incentives, and an expedited labor permitting process for high-skill workers are important steps in the right direction. These could be complemented by vocational training to lift the overall skill level and reduce skill mismatches, in line with government’s proposed stimulation package with incentives for employer-led vocational education. Integrating migrants into the workforce would grant them perspectives to grow and invest in their skills.

    Fostering Competitiveness and Diversification

    Bracing for slower growth and mindful of market saturation and the global context, the authorities’ focus is rightly on tourism value added and diversification of source markets. Roads and transportation are among the key bottlenecks of the island, and more public investments are needed to improve the connectivity within the island for tourists to venture out. Public and private investments should also be directed to maritime infrastructure to attract more yacht tourists and move up the tourism value chain. Increasing the number of taxi licenses is welcome and will improve tourist experiences through better mobility. Efforts to tap markets in South America have proven successful, and new flight routes opened from Brazil, Argentina, and Colombia, countries with a large consumer base and rising purchasing power.

    Fostering non-tourism sectors in areas of competitive advantage would help build resilience against global shocks and attract additional investments. Building on recent successful reforms to expedite business permits and promote digitalization, more progress is needed to achieve the authorities’ goals as outlined in the National Export Strategy. Curaçao’s connection to a new submarine cable throughout the Caribbean and Miami from 2027 onwards could help expand the island’s data center industry – conditional on sufficient absorption capacity of the electricity grid and a moderation in electricity prices, which remain among the highest in the region. Planned investments in the grid by Aqualectra would be supported by funding from the Netherlands and provide the basis for lifting renewables electricity production to 70 percent by 2027 from around 50 percent currently. The envisaged floating offshore wind park of 3-10 GW would help cover Curaçao’s entire electricity demand and create new export opportunities, in addition to exploratory investments in other energy sources.

    In the presence of global uncertainty, diversification of trade as well as regional integration are key for mitigating Curaçao’s exposure to external shocks. Curaçao’s imports remain concentrated on advanced markets, providing ample room to expand goods imports from neighboring countries, such as Brazil and Colombia. As a new associate CARICOM member and acknowledging limitation of independent trade policy given Kingdom laws, Curaçao should continue strengthening regional cooperation and trade integration with neighboring states.

    The authorities’ commitment to lower corruption vulnerabilities are welcome. The online gaming law has been approved by parliament in end-2024, an important step towards meeting the landspakket’s rule of law target. Curaçao’s recent accession to the UN Convention Against Corruption and delisting from the EU grey list of non-cooperative jurisdictions, following key legal updates in 2024, is another step in the right direction and opens doors for further international cooperation and bilateral tax treaties, as pursued by the authorities. The mutual evaluations of the AML/CFT frameworks for both Curaçao and Sint Maarten are underway, with results expected to be published in mid-July 2025.

    The Monetary Union of Curaçao and Sint Maarten

    The external balance of the Union is expected to improve, following a mild deterioration in 2024. The Union’s current account deficit widened to around 17 percent of GDP in 2024 driven by higher imports, mainly related to construction on Curaçao, and despite strong growth in tourism receipts. Going forward, stronger travel receipts, moderation in construction-related imports, and an increase in renewables would support a contraction of the Union’s current account deficit towards 10 percent of GDP in the medium term. The deficit will continue to be financed by private investment inflows and decumulation of assets abroad. The stock of international reserves would remain broadly stable and adequate over the medium term. Given still sizable deficits and a sustained real effective exchange rate appreciation, staff’s preliminary assessment suggests that the external position in 2024 was weaker than the level implied by fundamentals and desirable policies in Curaçao and broadly in line in Sint Maarten, albeit subject to high uncertainty given persistent measurement biases. The assessment for the Union is the same as for Curaçao due to its larger size and current account deficits.

    The monetary policy stance is appropriate and continues to support the peg. Following developments in the US, the CBCS cut its benchmark pledging rate by a cumulative 100 basis points in September and November 2024 to 4.75 percent, and has kept it unchanged since then, in line with the pegged exchange rate regime. Transmission to banking sector interest rates continues to be weak, as deposit rates stayed broadly constant throughout the recent tightening and easing cycles, with a mild uptick in late 2023 driven by time deposits, and Union lending rates declined between 2018 and end 2024. Excess liquidity is the key impediment to the transmission, further exacerbated by the absence of interbank and government securities markets.

    With lending rates declining, credit growth has accelerated, entirely driven by mortgages in Curaçao. Mortgage credit in the union, the second highest in the Caribbean, has been growing by double digits in real terms post pandemic, while real overall credit growth has been negative. Driven by Curaçao, mortgages are expected to remain on an upward trajectory, including financing for the construction of second homes and vacation rental apartments. In Sint Maarten, on the contrary, mortgage credit growth turned negative in 2024, possibly reflecting delays in construction projects and cross-border financing on the French side. With the islands’ financial sectors predominantly financing tourism-related activities, credit to non-tourism sectors is declining in real terms.

    The financial sector is broadly sound and systemic risks are contained, but mortgage growth needs to be monitored closely while a macroprudential toolkit is further developed. Banks are well capitalized, among the highest in the region, but both NPLs and provisioning remain weaker than the CBCS early warning signal – and with respect to peers. Liquidity is abundant and has further increased, but the Union’s banks are somewhat less profitable than the Caribbean median and concentration remains high. Closely monitoring mortgage growth to detect overheating in the real estate sector and possible vulnerabilities in household balance sheets should become a priority, in particular given continued data gaps. Overcoming these gaps and further developing a macroprudential toolkit towards the introduction of CCyBs, and thresholds for the loan-to-value and debt-service-to-income ratios are warranted to detect vulnerabilities and ensure timely response to potential shocks. Caps on mortgage credit growth or mortgage loan exposure could be applied should the positive mortgage credit gap widen further.

    The IMF mission would like to thank the authorities for their cooperation and the candid and constructive discussions that took place during June 18-25.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Reah Sy

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

    https://www.imf.org/en/News/Articles/2025/07/02/07022025-curacao-staff-concluding-statement-of-the-2025-article-iv

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Market sounding on toll road concessions to begin

    Source: New Zealand Government

    Market soundings with international and local toll road investors, operators and financiers will begin next week as the next step in exploring how toll concessions could help fund, build and operate important road infrastructure, Infrastructure and Transport Minister Chris Bishop says. 
    “The Government is focused on improving high-quality road infrastructure to boost economic growth and ensure people and freight can travel efficiently and safely. To accelerate the delivery of vital transport projects, we’re looking into alternative funding and financing methods, including the use of toll concessions.
    “New Zealand currently has three toll roads in operation in Auckland and Tauranga, with three more in various stages of construction or planning. The Government has also set expectations in the Government Policy Statement on Land Transport 2024 that other roads are considered for tolling in future, including all future Roads of National Significance. 
    “Although existing toll roads are currently managed by the NZ Transport Agency, the Government is, for the first time, considering private sector involvement in the operation of toll roads. This includes the potential use of toll concessions as part of a broader approach to infrastructure delivery.
    “A toll concession involves a private entity—known as a concessionaire—being given the right to manage and maintain a toll road for a specified time. During this period, they collect toll revenue to recover costs and earn a return. In exchange, the Government receives an upfront capital payment which can be used to fund additional road projects and potentially deliver them years earlier than would otherwise be feasible.
    “Concessions may apply to existing toll roads to operate and maintain a road, or be integrated into the development of new roading infrastructure. In the latter case, a private partner could be contracted to design, construct, operate, and maintain the road, and recoup operations and maintenance costs through toll collection.
    “There are several advantages to toll concessions: they can provide immediate capital that can be used to deliver more infrastructure projects sooner, draw on private sector expertise and innovation in areas like construction and tolling technology, and can help government to share and manage risks more efficiently.
    “It is important to note that the Crown continues to own the toll road under a concession arrangement. The private operator manages the road for the duration of the concession, after which control reverts back to a government agency.
    “Next week, my officials will begin market sounding discussions with toll road investors, operators and financiers to test opportunities for private firms to operate and maintain toll roads through concessions. The officials will meet with a cross-section of market participants – from international toll road operators to domestic and international investors and iwi – to get a range of perspectives on the opportunities available. If work on concessions is taken forward, there will be wider opportunities to be involved in any transactions stage.
    “Market sounding discussions will give us deeper insight into whether toll road concessions are viable here, under what circumstances, and the different ways they could be structured and phased. 
    “The Government will test concession opportunities on:

    New Zealand’s existing three toll roads – the Northern Gateway in Auckland, and Takitimu Drive and Tauranga Eastern Link in Tauranga
    Three roads in development that Cabinet has confirmed will be tolled – Penlink, Takitimu North Link, and Ōtaki to North of Levin
    All future Roads of National Significance

    “Officials will also seek to understand the extent to which concessions could support private investment and involvement in delivering other future projects beyond the immediate RoNS programme, including an alternative Waitematā Harbour crossing, where the significant scale of such projects and investment needed means different delivery approaches may deliver greater value for New Zealanders. 
    “The Ministry of Transport has appointed global investment bank, Citi, as its financial and commercial advisor to support this market sounding process. 
    “Citi has extensive experience advising on toll road concessions overseas and we’re pleased to have access to their expertise, connections and insights to ensure we run a high calibre market sounding process.
    “The insights we get from the market sounding will inform my decisions about whether and how to take toll concessions forward, including which ones are viable and have value. I look forward to hearing what the market has to say,” Mr Bishop says. 
    The Government expects to make decisions on toll road concessions later this year. 
    Notes to editor:
    ·         Exploring toll concessions gives effect to the National-ACT coalition agreement to institute long-term city and regional infrastructure deals, allowing Public Private Partnerships (PPPs), tolling and value capture rating to fund infrastructure.
    ·         Market sounding discussions will start in the week of 7 July 2025, with discussions being held in Sydney, Wellington and Auckland until late July 2025. 
    ·         The market sounding process is being led by the Ministry of Transport and National Infrastructure Funding and Financing Limited (NIFFCo), with input from the NZ Transport Agency (NZTA) and Treasury. Global investment bank, Citi, is acting as the Ministry of Transport’s financial and commercial advisor for the market sounding process. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Market sounding on toll road concessions to begin

    Source: New Zealand Government

    Market soundings with international and local toll road investors, operators and financiers will begin next week as the next step in exploring how toll concessions could help fund, build and operate important road infrastructure, Infrastructure and Transport Minister Chris Bishop says. 
    “The Government is focused on improving high-quality road infrastructure to boost economic growth and ensure people and freight can travel efficiently and safely. To accelerate the delivery of vital transport projects, we’re looking into alternative funding and financing methods, including the use of toll concessions.
    “New Zealand currently has three toll roads in operation in Auckland and Tauranga, with three more in various stages of construction or planning. The Government has also set expectations in the Government Policy Statement on Land Transport 2024 that other roads are considered for tolling in future, including all future Roads of National Significance. 
    “Although existing toll roads are currently managed by the NZ Transport Agency, the Government is, for the first time, considering private sector involvement in the operation of toll roads. This includes the potential use of toll concessions as part of a broader approach to infrastructure delivery.
    “A toll concession involves a private entity—known as a concessionaire—being given the right to manage and maintain a toll road for a specified time. During this period, they collect toll revenue to recover costs and earn a return. In exchange, the Government receives an upfront capital payment which can be used to fund additional road projects and potentially deliver them years earlier than would otherwise be feasible.
    “Concessions may apply to existing toll roads to operate and maintain a road, or be integrated into the development of new roading infrastructure. In the latter case, a private partner could be contracted to design, construct, operate, and maintain the road, and recoup operations and maintenance costs through toll collection.
    “There are several advantages to toll concessions: they can provide immediate capital that can be used to deliver more infrastructure projects sooner, draw on private sector expertise and innovation in areas like construction and tolling technology, and can help government to share and manage risks more efficiently.
    “It is important to note that the Crown continues to own the toll road under a concession arrangement. The private operator manages the road for the duration of the concession, after which control reverts back to a government agency.
    “Next week, my officials will begin market sounding discussions with toll road investors, operators and financiers to test opportunities for private firms to operate and maintain toll roads through concessions. The officials will meet with a cross-section of market participants – from international toll road operators to domestic and international investors and iwi – to get a range of perspectives on the opportunities available. If work on concessions is taken forward, there will be wider opportunities to be involved in any transactions stage.
    “Market sounding discussions will give us deeper insight into whether toll road concessions are viable here, under what circumstances, and the different ways they could be structured and phased. 
    “The Government will test concession opportunities on:

    New Zealand’s existing three toll roads – the Northern Gateway in Auckland, and Takitimu Drive and Tauranga Eastern Link in Tauranga
    Three roads in development that Cabinet has confirmed will be tolled – Penlink, Takitimu North Link, and Ōtaki to North of Levin
    All future Roads of National Significance

    “Officials will also seek to understand the extent to which concessions could support private investment and involvement in delivering other future projects beyond the immediate RoNS programme, including an alternative Waitematā Harbour crossing, where the significant scale of such projects and investment needed means different delivery approaches may deliver greater value for New Zealanders. 
    “The Ministry of Transport has appointed global investment bank, Citi, as its financial and commercial advisor to support this market sounding process. 
    “Citi has extensive experience advising on toll road concessions overseas and we’re pleased to have access to their expertise, connections and insights to ensure we run a high calibre market sounding process.
    “The insights we get from the market sounding will inform my decisions about whether and how to take toll concessions forward, including which ones are viable and have value. I look forward to hearing what the market has to say,” Mr Bishop says. 
    The Government expects to make decisions on toll road concessions later this year. 
    Notes to editor:
    ·         Exploring toll concessions gives effect to the National-ACT coalition agreement to institute long-term city and regional infrastructure deals, allowing Public Private Partnerships (PPPs), tolling and value capture rating to fund infrastructure.
    ·         Market sounding discussions will start in the week of 7 July 2025, with discussions being held in Sydney, Wellington and Auckland until late July 2025. 
    ·         The market sounding process is being led by the Ministry of Transport and National Infrastructure Funding and Financing Limited (NIFFCo), with input from the NZ Transport Agency (NZTA) and Treasury. Global investment bank, Citi, is acting as the Ministry of Transport’s financial and commercial advisor for the market sounding process. 

    MIL OSI New Zealand News –

  • PM Modi, Ghana President Agree to Deepen Ties, Sign Four MoUs During Historic Visit

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Wednesday met Ghanaian President Dr. John Dramani Mahama in Accra, marking the first state visit by an Indian Prime Minister to Ghana in three decades.

    PM Modi was received by President Mahama at Jubilee House, the official residence and office of the Ghanaian President. The two leaders held detailed discussions in restricted and delegation-level formats, agreeing to elevate the bilateral relationship to a Comprehensive Partnership.

    During the talks, both sides reaffirmed the longstanding and cordial ties between India and Ghana and explored ways to deepen cooperation in areas including trade and investment, agriculture, capacity building, digital technology, infrastructure, and people-to-people exchanges.

    PM Modi welcomed the steady growth in bilateral trade and the increasing presence of Indian investments in Ghana. The leaders also discussed steps to strengthen defence and security collaboration, as well as development cooperation through India-supported infrastructure and capacity-building projects.

    India also offered to share its expertise in health, pharmaceuticals, digital public infrastructure, the Unified Payments Interface (UPI), and skill development. Modi reiterated India’s commitment to voicing the concerns of the Global South and thanked Ghana for its continued support on this front. He also expressed gratitude to President Mahama for the care extended to the Indian community of around 15,000 people living in Ghana.

    Both leaders exchanged views on global and regional issues of mutual interest, including the need for reforms at the United Nations. Prime Minister Modi thanked President Mahama for his support and solidarity following the recent Pahalgam attack. The two sides agreed to work together to strengthen the global fight against terrorism.

    PM Modi also congratulated Ghana on its increasing international profile, including its current term on the UN Human Rights Council and the election of Ghana’s Foreign Minister as the Commonwealth Secretary-General. The leaders reiterated their commitment to democratic values, South-South cooperation, and a shared vision for sustainable development and global peace.

    Following the talks, India and Ghana exchanged four Memoranda of Understanding (MoUs) covering Culture, Standards, Ayurveda and Traditional Medicine, and the establishment of a Joint Commission Mechanism to enhance engagement between the two countries’ Foreign Ministries.

    President Mahama hosted a State Banquet in honour of Prime Minister Modi. Thanking him for the warm hospitality, Prime Minister Modi invited President Mahama to visit India at a mutually convenient time.

  • PM Modi, Ghana President Agree to Deepen Ties, Sign Four MoUs During Historic Visit

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Wednesday met Ghanaian President Dr. John Dramani Mahama in Accra, marking the first state visit by an Indian Prime Minister to Ghana in three decades.

    PM Modi was received by President Mahama at Jubilee House, the official residence and office of the Ghanaian President. The two leaders held detailed discussions in restricted and delegation-level formats, agreeing to elevate the bilateral relationship to a Comprehensive Partnership.

    During the talks, both sides reaffirmed the longstanding and cordial ties between India and Ghana and explored ways to deepen cooperation in areas including trade and investment, agriculture, capacity building, digital technology, infrastructure, and people-to-people exchanges.

    PM Modi welcomed the steady growth in bilateral trade and the increasing presence of Indian investments in Ghana. The leaders also discussed steps to strengthen defence and security collaboration, as well as development cooperation through India-supported infrastructure and capacity-building projects.

    India also offered to share its expertise in health, pharmaceuticals, digital public infrastructure, the Unified Payments Interface (UPI), and skill development. Modi reiterated India’s commitment to voicing the concerns of the Global South and thanked Ghana for its continued support on this front. He also expressed gratitude to President Mahama for the care extended to the Indian community of around 15,000 people living in Ghana.

    Both leaders exchanged views on global and regional issues of mutual interest, including the need for reforms at the United Nations. Prime Minister Modi thanked President Mahama for his support and solidarity following the recent Pahalgam attack. The two sides agreed to work together to strengthen the global fight against terrorism.

    PM Modi also congratulated Ghana on its increasing international profile, including its current term on the UN Human Rights Council and the election of Ghana’s Foreign Minister as the Commonwealth Secretary-General. The leaders reiterated their commitment to democratic values, South-South cooperation, and a shared vision for sustainable development and global peace.

    Following the talks, India and Ghana exchanged four Memoranda of Understanding (MoUs) covering Culture, Standards, Ayurveda and Traditional Medicine, and the establishment of a Joint Commission Mechanism to enhance engagement between the two countries’ Foreign Ministries.

    President Mahama hosted a State Banquet in honour of Prime Minister Modi. Thanking him for the warm hospitality, Prime Minister Modi invited President Mahama to visit India at a mutually convenient time.

  • MIL-OSI USA: Governor Kehoe Signs Five Bills into Law

    Source: US State of Missouri

    JULY 2, 2025

    Jefferson City — Today, Governor Mike Kehoe signed five pieces of legislation into law: Senate Bills (SB) 28 and 396, and House Bills (HB) 105, 169, and 974.

    “Today, we were proud to sign five bills that will benefit businesses and local governments across our state,” said Governor Kehoe. “Thank you to the men and women of the General Assembly for sending many pieces of quality legislation to my desk this session. We look forward to signing even more legislation that improves the lives of Missourians next week.”

    SB 28, sponsored by Senator Jason Bean and Representative Donnie Brown, modifies provisions relating to transportation.

    • Adds retired law enforcement and judicial members to the confidential motor vehicle and drivers licensing records statute.
    • Requires motor vehicle sales taxes to be paid before a temporary tag can be issued. This now includes transactions between individuals and through out-of-state dealers.
      • The effective date of this is delayed until the Missouri Department of Revenue’s (DOR) Motor Vehicle and Driver License System is completed.
    • Modifies specialty license plate provisions, including creating a new United States Space Force military specialty license plate.
    • Places vehicle, boat, and powersports dealers on a level playing field in regards to the fees they are required to remit to DOR.

    SB 396, sponsored by Senator Ben Brown and Representative Brad Banderman, authorizes the board of trustees of a consolidated public library district to change the dates of the fiscal year.

    • Allows the board of trustees of a consolidated library district to select a different fiscal year structure than the state fiscal year calendar.

    HB 105, sponsored Representative Jeff Vernetti and Senator Mike Bernskoetter, authorizes the conveyance of certain state property.

    • Outlines the deed property language for the conveyance of the Lee C. Fine Memorial Airport from the Missouri Department of Natural Resources to the city of Osage Beach, giving Osage Beach more freedom and flexibility to make improvements without grant funding.
    • Conveys two tracts of land from the site of the former Missouri State Highway Patrol Troop A Headquarters located in Lee’s Summit. The land will be conveyed from the State of Missouri to the Missouri Highways and Transportation Commission for the purpose of a new intersection, allowing the outer roads and city streets to be received by Lee’s Summit once the new bridge and intersection is completed.
    • Outlines the deed property language for conveying a tract of land in Webster County from the State of Missouri to the Missouri Highways and Transportation Commission, allowing for improvements to increase road safety by reducing conflict points, decreasing congestion, and replacing aging infrastructure.

    HB 169, sponsored by Representative Donnie Brown and Senator Jason Bean, modifies provisions relating to cotton trailers.

    • Redefines “cotton trailers,” increasing the allowed maximum speed to 70 MPH from 40 MPH.
    • Updates specific hauling requirements for cotton trailers to align with modern technological advancements.

    HB 974, sponsored by Representative Jim Murphy and Senator Sandy Crawford, establishes provisions relating to insurance for certain uses of motor vehicles.

    • Implements the National Association of Insurance Commissioners (NAIC) model language related to cyber security standards on insurance companies, aimed at protecting consumer data.
    • Implements the National Council of Insurance Legislators model language related to peer-to-peer driving rental services.

    For more information on the legislation and additional provisions signed into law, visit house.mo.gov and senate.mo.gov. Photos from the bill signing will be uploaded to Governor Kehoe’s Flickr page.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Van Orden Urges Evers to Act Quickly to Align State Budget with Federal Healthcare Provisions

    Source: United States House of Representatives – Congressman Derrick Van Orden (Wisconsin 3rd)

    WASHINGTON, D.C. – Today, Congressman Derrick Van Orden (WI-03) sent a letter to Governor Tony Evers urging him to promptly sign the Wisconsin FY 2025-27 state budget into law. The state budget includes an increase to the state provider tax rate, which must be in effect prior to the signing of the One, Big, Beautiful Bill.

    For nearly a decade, Wisconsin’s provider tax rate has not been updated from 1.7%. The One, Big, Beautiful Bill will allow non-Medicaid expansion states, like Wisconsin, with provider tax rates of up to 6% to remain untouched. In order for Wisconsin to fully capitalize on the Medicaid benefits in the bill, it is imperative the governor sign the state budget into law as soon as possible.

    “I cannot emphasize enough the importance of signing the proposed state budget into law without delay. As you are aware, timely enactment is especially critical this year due to the proposed increase in the state provider tax, which must be effectuated before the anticipated signing of the One, Big, Beautiful Bill on or around July 4, 2025,” Rep. Van Orden stated in the letter.

    The congressman continued, “Delaying the state budget enactment beyond July 3rd risks losing vital opportunities for the state’s healthcare system and the Wisconsinites who rely on it. Healthcare and rural healthcare, in particular, is vital to us in Wisconsin. We cannot leave anything on the table. Please act swiftly to sign the budget and secure the provider tax increase in time to meet this critical federal deadline.”

    “I came to Washington to fight for those in rural Wisconsin. By voting for this bill, I will be doing just that, and I am looking forward to working with our state senators, assembly members, and you to make sure our fellow Wisconsinites cannot just survive but thrive.”

    To read the full letter, click here or scroll below.

     

    The Honorable Tony Evers

    Governor of Wisconsin

    115 East Capitol

    Madison, WI 53702

    July 2, 2025

    Dear Governor Evers,

    I wanted to send you a follow up note from our conversation yesterday.

    I cannot emphasize enough the importance of signing the proposed state budget into law without delay. As you are aware, timely enactment is especially critical this year due to the proposed increase in the state provider tax, which must be effectuated before the anticipated signing of the One, Big, Beautiful Bill on or around July 4, 2025.

    This is a once in a lifetime opportunity and I implore you to put politics aside, and our neighbors first.

    The One Big Beautiful Bill will have a profoundly beneficial impact on Wisconsinites from all socioeconomic backgrounds by ensuring that Badger Care, in its current form and scope, remains solvent into the future and bolstering our rural healthcare systems.

    Wisconsin will immediately receive a $500,000,000 plus up for rural healthcare infrastructure, and an additional billion dollars annually for healthcare in our great state.

    Additionally, this bill protects SNAP for those most in need, prevents a 25% tax hike on Wisconsin families, makes the Small Business Deduction permanent and increases it to 23%, and removes the Death Tax so our farmers can pass their land onto the next generation.

    Delaying the state budget enactment beyond July 3rd risks losing vital opportunities for the state’s healthcare system and the Wisconsinites who rely on it. Healthcare and rural healthcare, in particular, is vital to us in Wisconsin. We cannot leave anything on the table. Please act swiftly to sign the budget and secure the provider tax increase in time to meet this critical federal deadline.

    I came to Washington to fight for those in rural Wisconsin. By voting for this bill, I will be doing just that, and I am looking forward to working with our state senators, assembly members, and you to make sure our fellow Wisconsinites cannot just survive but thrive.

    Forward!

    All the best,

    Derrick Van Orden

    Member of Congress

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Van Orden Urges Evers to Act Quickly to Align State Budget with Federal Healthcare Provisions

    Source: United States House of Representatives – Congressman Derrick Van Orden (Wisconsin 3rd)

    WASHINGTON, D.C. – Today, Congressman Derrick Van Orden (WI-03) sent a letter to Governor Tony Evers urging him to promptly sign the Wisconsin FY 2025-27 state budget into law. The state budget includes an increase to the state provider tax rate, which must be in effect prior to the signing of the One, Big, Beautiful Bill.

    For nearly a decade, Wisconsin’s provider tax rate has not been updated from 1.7%. The One, Big, Beautiful Bill will allow non-Medicaid expansion states, like Wisconsin, with provider tax rates of up to 6% to remain untouched. In order for Wisconsin to fully capitalize on the Medicaid benefits in the bill, it is imperative the governor sign the state budget into law as soon as possible.

    “I cannot emphasize enough the importance of signing the proposed state budget into law without delay. As you are aware, timely enactment is especially critical this year due to the proposed increase in the state provider tax, which must be effectuated before the anticipated signing of the One, Big, Beautiful Bill on or around July 4, 2025,” Rep. Van Orden stated in the letter.

    The congressman continued, “Delaying the state budget enactment beyond July 3rd risks losing vital opportunities for the state’s healthcare system and the Wisconsinites who rely on it. Healthcare and rural healthcare, in particular, is vital to us in Wisconsin. We cannot leave anything on the table. Please act swiftly to sign the budget and secure the provider tax increase in time to meet this critical federal deadline.”

    “I came to Washington to fight for those in rural Wisconsin. By voting for this bill, I will be doing just that, and I am looking forward to working with our state senators, assembly members, and you to make sure our fellow Wisconsinites cannot just survive but thrive.”

    To read the full letter, click here or scroll below.

     

    The Honorable Tony Evers

    Governor of Wisconsin

    115 East Capitol

    Madison, WI 53702

    July 2, 2025

    Dear Governor Evers,

    I wanted to send you a follow up note from our conversation yesterday.

    I cannot emphasize enough the importance of signing the proposed state budget into law without delay. As you are aware, timely enactment is especially critical this year due to the proposed increase in the state provider tax, which must be effectuated before the anticipated signing of the One, Big, Beautiful Bill on or around July 4, 2025.

    This is a once in a lifetime opportunity and I implore you to put politics aside, and our neighbors first.

    The One Big Beautiful Bill will have a profoundly beneficial impact on Wisconsinites from all socioeconomic backgrounds by ensuring that Badger Care, in its current form and scope, remains solvent into the future and bolstering our rural healthcare systems.

    Wisconsin will immediately receive a $500,000,000 plus up for rural healthcare infrastructure, and an additional billion dollars annually for healthcare in our great state.

    Additionally, this bill protects SNAP for those most in need, prevents a 25% tax hike on Wisconsin families, makes the Small Business Deduction permanent and increases it to 23%, and removes the Death Tax so our farmers can pass their land onto the next generation.

    Delaying the state budget enactment beyond July 3rd risks losing vital opportunities for the state’s healthcare system and the Wisconsinites who rely on it. Healthcare and rural healthcare, in particular, is vital to us in Wisconsin. We cannot leave anything on the table. Please act swiftly to sign the budget and secure the provider tax increase in time to meet this critical federal deadline.

    I came to Washington to fight for those in rural Wisconsin. By voting for this bill, I will be doing just that, and I am looking forward to working with our state senators, assembly members, and you to make sure our fellow Wisconsinites cannot just survive but thrive.

    Forward!

    All the best,

    Derrick Van Orden

    Member of Congress

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Van Orden Urges Evers to Act Quickly to Align State Budget with Federal Healthcare Provisions

    Source: United States House of Representatives – Congressman Derrick Van Orden (Wisconsin 3rd)

    WASHINGTON, D.C. – Today, Congressman Derrick Van Orden (WI-03) sent a letter to Governor Tony Evers urging him to promptly sign the Wisconsin FY 2025-27 state budget into law. The state budget includes an increase to the state provider tax rate, which must be in effect prior to the signing of the One, Big, Beautiful Bill.

    For nearly a decade, Wisconsin’s provider tax rate has not been updated from 1.7%. The One, Big, Beautiful Bill will allow non-Medicaid expansion states, like Wisconsin, with provider tax rates of up to 6% to remain untouched. In order for Wisconsin to fully capitalize on the Medicaid benefits in the bill, it is imperative the governor sign the state budget into law as soon as possible.

    “I cannot emphasize enough the importance of signing the proposed state budget into law without delay. As you are aware, timely enactment is especially critical this year due to the proposed increase in the state provider tax, which must be effectuated before the anticipated signing of the One, Big, Beautiful Bill on or around July 4, 2025,” Rep. Van Orden stated in the letter.

    The congressman continued, “Delaying the state budget enactment beyond July 3rd risks losing vital opportunities for the state’s healthcare system and the Wisconsinites who rely on it. Healthcare and rural healthcare, in particular, is vital to us in Wisconsin. We cannot leave anything on the table. Please act swiftly to sign the budget and secure the provider tax increase in time to meet this critical federal deadline.”

    “I came to Washington to fight for those in rural Wisconsin. By voting for this bill, I will be doing just that, and I am looking forward to working with our state senators, assembly members, and you to make sure our fellow Wisconsinites cannot just survive but thrive.”

    To read the full letter, click here or scroll below.

     

    The Honorable Tony Evers

    Governor of Wisconsin

    115 East Capitol

    Madison, WI 53702

    July 2, 2025

    Dear Governor Evers,

    I wanted to send you a follow up note from our conversation yesterday.

    I cannot emphasize enough the importance of signing the proposed state budget into law without delay. As you are aware, timely enactment is especially critical this year due to the proposed increase in the state provider tax, which must be effectuated before the anticipated signing of the One, Big, Beautiful Bill on or around July 4, 2025.

    This is a once in a lifetime opportunity and I implore you to put politics aside, and our neighbors first.

    The One Big Beautiful Bill will have a profoundly beneficial impact on Wisconsinites from all socioeconomic backgrounds by ensuring that Badger Care, in its current form and scope, remains solvent into the future and bolstering our rural healthcare systems.

    Wisconsin will immediately receive a $500,000,000 plus up for rural healthcare infrastructure, and an additional billion dollars annually for healthcare in our great state.

    Additionally, this bill protects SNAP for those most in need, prevents a 25% tax hike on Wisconsin families, makes the Small Business Deduction permanent and increases it to 23%, and removes the Death Tax so our farmers can pass their land onto the next generation.

    Delaying the state budget enactment beyond July 3rd risks losing vital opportunities for the state’s healthcare system and the Wisconsinites who rely on it. Healthcare and rural healthcare, in particular, is vital to us in Wisconsin. We cannot leave anything on the table. Please act swiftly to sign the budget and secure the provider tax increase in time to meet this critical federal deadline.

    I came to Washington to fight for those in rural Wisconsin. By voting for this bill, I will be doing just that, and I am looking forward to working with our state senators, assembly members, and you to make sure our fellow Wisconsinites cannot just survive but thrive.

    Forward!

    All the best,

    Derrick Van Orden

    Member of Congress

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Washington state files amicus brief in support of legal challenge to unlawful termination of Job Corps

    Source: Washington State News

    SEATTLE — Attorney General Nick Brown today filed an amicus brief with the attorneys general from 21 other states in support of a proposed class of plaintiffs challenging the unlawful termination of Job Corps, a national program that offers career training and housing to young Americans from low-income backgrounds. 

    Last week, the U.S. District Court for the Southern District of New York issued a preliminary injunction in favor of the plaintiffs challenging in National Job Corps Association et al. v. Department of Labor et al., noting in its opinion that the coalition of states led by Washington had opposed the termination of the program. Today’s filing urges the court, weighing a motion brought by enrollees in the program, to affirm that an injunction should remain in place.      

    Job Corps has nearly 100 residential campuses across the country, and the Trump Administration’s effort to illegally terminate the program threatens to leave thousands of vulnerable young Americans homeless. The brief explains that “in the sixty years since Congress created Job Corps, millions of young Americans from low-income backgrounds have been served by the program’s unique combination of education, training, housing, healthcare and community.” 

    Unlawful termination of the program would impact tens of thousands of young Americans who are currently enrolled and housed at campuses in all fifty states, including the Cascades Job Corps Center in Sedro-Woolley, Washington and the Tongue Point Job Corps Center in Astoria, Oregon. Thousands of these program participants were unhoused or in foster care when they enrolled and have no alternative housing if they lose their residence through the program.

    Today’s brief was filed in Cabrera et al. v. Department of Labor et al. in the United States District Court for the District of Columbia, with Attorney General Brown and Nevada Attorney General Aaron Ford leading a coalition including Arizona, California, Colorado, Connecticut, Delaware, the District of Columbia, Hawai’i, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont and Wisconsin.

    Today’s amicus filing reaffirms that keeping an injunction in place is necessary to protect vulnerable state residents and promote state goals in education and workforce development. It further reinforces the point that the Trump administration cannot violate federal law and the Constitution by terminating congressionally mandated programs it opposes.

    A copy of the amicus brief is available here.

    -30-

    Washington’s Attorney General serves the people and the state of Washington. As the state’s largest law firm, the Attorney General’s Office provides legal representation to every state agency, board, and commission in Washington. Additionally, the Office serves the people directly by enforcing consumer protection, civil rights, and environmental protection laws. The Office also prosecutes elder abuse, Medicaid fraud, and handles sexually violent predator cases in 38 of Washington’s 39 counties. Visit www.atg.wa.gov to learn more.

    Media Contact:

    Email: press@atg.wa.gov

    Phone: (360) 753-2727

    General contacts: Click here

    Media Resource Guide & Attorney General’s Office FAQ

    MIL OSI USA News –

  • MIL-OSI USA: Governor Newsom honors fallen California Highway Patrol Officer Miguel Cano

    Source: US State of California Governor

    Jul 2, 2025

    SACRAMENTO – Governor Gavin Newsom issued the following statement regarding the death of California Highway Patrol Officer Miguel Cano:

    “Officer Miguel Cano dedicated his life to serving our communities, and his passing is a heartbreaking loss for the state and the California Highway Patrol. Jennifer and I are deeply saddened by this tragedy and we extend our sincere condolences to Officer Cano’s wife, parents, loved ones, and the men and women of the CHP. Though early in his public safety career, Officer Cano already embodied the best of the Golden State with his courage, commitment, and a deep sense of duty. The state will never forget his service.”

     On July 2, just before 12:30 a.m., at Bristol Parkway near Green Valley Circle in Culver City, Officer Cano was involved in an on-duty crash after suffering a suspected medical emergency.  The circumstances are still under investigation. He was immediately transported to the UCLA Ronald Reagan Medical Center, where, despite the lifesaving efforts of emergency personnel, Officer Cano was ultimately pronounced deceased.

    Officer Cano, 34, graduated from the CHP academy in November 2023 and proudly served the West Los Angeles community and the people of California for a year and a half.  

    His wife and parents survive him.

     In honor of Officer Cano, flags at the State Capitol and Capitol Annex Swing Space will be flown at half-staff. This is the first line-of-duty loss for the CHP since 2020.  

    Recent news

    Jul 2, 2025

    News What you need to know: Governor Newsom is more than doubling the state’s Film and Television Tax Credit Program, and adding 16 new television projects that will generate $1.1 billion in new economic activity. BURBANK – Today, Governor Gavin Newsom joined labor…

    Jul 2, 2025

    News SACRAMENTO — Republicans spent the last 6 months fearmongering that gasoline prices would “increase by 65 cents on July 1.” Did that happen?The answer: NoIn fact, in California, gasoline prices at the pump (on average) are cheaper than yesterday, cheaper than it…

    Jul 2, 2025

    News What you need to know: California is delivering on its promises – significant investments in public safety help ensure safety in communities statewide with lower crime rates in 2024. Sacramento, California – As the House of Representatives prepares to vote on…

    MIL OSI USA News –

  • MIL-OSI Australia: Rate cuts bring relief as stress levels drop

    Source: Premier of Victoria

    • NAB Consumer Stress Index eased to a two-year low
    • Small cutbacks putting $4860 a year back in Aussies’ pockets

    Australians are starting to breathe a little easier, with consumer stress dropping to its lowest point in two years, thanks to easing cost-of-living pressures and growing hope around interest rates.

    NAB’s latest Consumer Sentiment Survey shows the stress index has dropped to 56.6, down from 59.6 in March, below the long-term average.

    NAB Executive Lucia La Bella says recent rate cuts are already making a difference in how people are feeling about their finances.

    And fewer Australians are seeing big jumps in mortgages, rent and transport.

    “We’re seeing a sense of optimism about the future and more confidence that there’s light at the end of the tunnel,” Ms La Bella said.

    “We’re seeing some relief already among mortgage holders with almost half saying they’re feeling the benefits of recent rate cuts.

    “With another RBA meeting just days away, many households are watching closely and planning their budgets.”

    Cost-of-living is still the main concern among Australians although it has now eased to its lowest level in three years.

    Households are continuing to tighten their belts, cutting back on things like eating out, entertainment and travel – saving an average of $4860 a year. But it’s not just about cutting back, people are shopping smarter too.

    One in three are switching to cheaper brands, one in four are doing their homework before buying, and one in ten are snapping up deals when they see them.

    “They’re showing resilience, making smart choices, and setting themselves up for a stronger financial future,” Ms La Bella said.

    With a new financial year here, it’s a good opportunity to start fresh with a new budget. Free tools like the NAB Budget Planner are a good place to start.

    Notes to editor:  

    • NAB’s measure of consumer stress is based on household stresses arising from their job security, health, ability to fund retirement, cost of living and the impact of Government policies.
    • NAB Economics forecasts three further 25bp cuts in 2025 taking the cash rate back to a broadly neutral rate of 3.1%.
    • The NAB Consumer Sentiment Survey uses data from 2,000 people

    ENDS 

    For further information:
    NAB Media: +61 (0) 3 7035 5015

    Customers, banking & finance

    SEE ALL TOPICS

    Media Enquiries

    For all media enquiries, please contact the NAB Media Line on 03 7035 5015

    MIL OSI News –

  • MIL-OSI: The Herzfeld Caribbean Basin Fund, Inc. Announces Change of Name and NASDAQ Ticker Symbol

    Source: GlobeNewswire (MIL-OSI)

    MIAMI BEACH, Fla., July 02, 2025 (GLOBE NEWSWIRE) — The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the “Fund”) today announced that it has changed the name of the Fund to “Herzfeld Credit Income Fund, Inc.” and that effective on or about July 7, the Fund will continue to trade on NASDAQ under the new ticker symbol “HERZ”.

    On June 17, 2025, the Fund’s Stockholders approved the Fund’s conversion from its prior investment strategy to focus on a “CLO Equity Strategy”. Under the new strategy, the Fund’s primary investment objective is a total return strategy with a secondary objective of generating high current income for stockholders. In accordance with the investment objective, the Fund will focus on investing in equity and junior debt tranches of collateralized loan obligations, or “CLOs”. CLOs are portfolios of collateralized loans consisting primarily of below investment grade U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors.

    About Thomas J. Herzfeld Advisors, Inc.

    Thomas J. Herzfeld Advisors, Inc. (the “Advisor”), founded in 1984, is an SEC registered investment advisor, specializing in investment analysis and account management in closed-end funds.

    More information about the advisor can be found at www.herzfeld.com.

    Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund’s investment objective, risks, charges and expenses. Please read the Fund’s disclosure documents before investing.

    Forward-Looking Statements

    This press release, and other statements that the Advisor or the Fund may make, may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund’s or the Advisor’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions. The Advisor and the Fund caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and the Advisor and the Fund assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following risk factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) portfolio fair value risk; (2potential conflicts of interest risk; (3) collateralized loan obligation risk; (4) covenant-lite loans risk; (5) subordinated securities risk; (7) high yield investment risk; (8default risk; (9) non-diversification risk; (10) leverage risk; (11) reliance on senior management personnel of the Adviser risk; (12) liquidity risk; (13) risks related to the Adviser’s incentive fee; (14) market risks; (15) inflation risk; (16) interest rate risk; (17) regulatory risk; (18) credit spread risk; (19) prepayment risk; (20) volatility risk; (21) equity risk; (22) foreign exchange rate risk; and (23) cybersecurity risk. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC’s website at www.sec.gov and on the Advisor’s website at www.herzfeld.com/cuba, and may discuss these or other factors that affect the Fund. The information contained on the Advisor’s website is not a part of this press release.

    Contact:
    Thomas Morgan
    Chief Compliance Officer
    Herzfeld Credit Income Fund, Inc.
    1-305-777-1660

    The MIL Network –

  • MIL-OSI: The Herzfeld Caribbean Basin Fund, Inc. Announces Change of Name and NASDAQ Ticker Symbol

    Source: GlobeNewswire (MIL-OSI)

    MIAMI BEACH, Fla., July 02, 2025 (GLOBE NEWSWIRE) — The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the “Fund”) today announced that it has changed the name of the Fund to “Herzfeld Credit Income Fund, Inc.” and that effective on or about July 7, the Fund will continue to trade on NASDAQ under the new ticker symbol “HERZ”.

    On June 17, 2025, the Fund’s Stockholders approved the Fund’s conversion from its prior investment strategy to focus on a “CLO Equity Strategy”. Under the new strategy, the Fund’s primary investment objective is a total return strategy with a secondary objective of generating high current income for stockholders. In accordance with the investment objective, the Fund will focus on investing in equity and junior debt tranches of collateralized loan obligations, or “CLOs”. CLOs are portfolios of collateralized loans consisting primarily of below investment grade U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors.

    About Thomas J. Herzfeld Advisors, Inc.

    Thomas J. Herzfeld Advisors, Inc. (the “Advisor”), founded in 1984, is an SEC registered investment advisor, specializing in investment analysis and account management in closed-end funds.

    More information about the advisor can be found at www.herzfeld.com.

    Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund’s investment objective, risks, charges and expenses. Please read the Fund’s disclosure documents before investing.

    Forward-Looking Statements

    This press release, and other statements that the Advisor or the Fund may make, may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund’s or the Advisor’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions. The Advisor and the Fund caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and the Advisor and the Fund assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following risk factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) portfolio fair value risk; (2potential conflicts of interest risk; (3) collateralized loan obligation risk; (4) covenant-lite loans risk; (5) subordinated securities risk; (7) high yield investment risk; (8default risk; (9) non-diversification risk; (10) leverage risk; (11) reliance on senior management personnel of the Adviser risk; (12) liquidity risk; (13) risks related to the Adviser’s incentive fee; (14) market risks; (15) inflation risk; (16) interest rate risk; (17) regulatory risk; (18) credit spread risk; (19) prepayment risk; (20) volatility risk; (21) equity risk; (22) foreign exchange rate risk; and (23) cybersecurity risk. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC’s website at www.sec.gov and on the Advisor’s website at www.herzfeld.com/cuba, and may discuss these or other factors that affect the Fund. The information contained on the Advisor’s website is not a part of this press release.

    Contact:
    Thomas Morgan
    Chief Compliance Officer
    Herzfeld Credit Income Fund, Inc.
    1-305-777-1660

    The MIL Network –

  • MIL-OSI: FIND MINING Launches Revolutionary Cloud Mining Mobile App, Opening XRP Ecosystem Profits to Everyone

    Source: GlobeNewswire (MIL-OSI)

    San Mateo County, California, July 02, 2025 (GLOBE NEWSWIRE) — Leading cryptocurrency solutions innovator FIND MINING today announced the official launch of its groundbreaking cloud mining mobile application, enabling anyone with a smartphone to easily earn passive crypto income. This launch coincides with XRP’s latest surge past the $2.30 mark and its recent legal victory, which has ignited a fresh wave of enthusiasm across the global crypto market — highlighting the growing demand for accessible, flexible ways to earn XRP rewards.

    For years, cryptocurrency mining has remained a domain with high entry barriers, costly hardware, and complex technical requirements. FIND MINING aims to break down these walls by creating a mobile-first, universally accessible cloud mining platform. No expensive rigs or complicated setups are needed — just a few simple steps to start earning steady daily crypto income.

    A FIND MINING spokesperson commented:

    “As XRP continues to win important regulatory battles, we see more everyday people eager to safely and easily benefit from this ecosystem boom. FIND MINING was born for this purpose. Our mission is to make passive crypto income accessible to everyone, regardless of technical knowledge or financial means.”

    FIND MINING: Next-Generation XRP Cloud Mining Solution

    Headquartered in London and serving users worldwide, FIND MINING combines cutting-edge mining technology with unmatched ease of use, reaching diverse users from students to retirees with a secure, flexible passive income tool.

    FINDMINING provides retail investors with cloud computing contracts worth investing in as shown below

    Key Highlights of the FIND MINING App:

    • Quick Registration, Instant Reward:
       Users can sign up at findmining.com using just an email to instantly receive a $15 reward. Daily logins grant an additional $0.60, letting newcomers try it out with zero risk.
    • Flexible Contracts, Your Choice:
       Offers mining contracts from as short as 2 days to up to 60 days, with entry thresholds starting at just $100. Contract pricing adjusts transparently in real-time with global exchange rates.
    • Automatic Daily Payouts:
       Once activated, contracts run automatically with daily mining rewards settled directly to users’ accounts.
    • Multi-Currency Support:
       Users can deposit and withdraw with XRP, BTC, ETH, USDT, DOGE, SOL, LTC, BCH, USDC, and other major cryptocurrencies.
    • Military-Grade Security:
       Funds are secured end-to-end by McAfee, with Cloudflare protection against DDoS attacks — keeping your assets safe at all times.
    • Eco-Friendly Operations:
       Fully powered by 100% renewable energy, FIND MINING eliminates the high carbon footprint of traditional mining farms, balancing financial growth with sustainability.
    • 24/7 Global Support:
       A multilingual support team is available around the clock, serving over 9.4million users across 175+ countries.

    As XRP continues its path toward wider global legitimacy and renewed market confidence, FIND MINING aims to become the gateway for everyday people to participate in the XRP ecosystem and build digital wealth with ease.

    Visit findmining.com now, download the FIND MINING App, claim your free reward, and join the crypto wealth revolution designed for everyone!

    About FIND MINING
     Based in London and serving clients worldwide, FIND MINING is a leading provider of cloud mining and passive crypto income solutions. By combining innovative technology, unmatched ease of use, and top-tier security, FIND MINING empowers everyone to safely and simply grow their digital assets, advancing the global democratization of digital wealth.

    Official Emaill: info@findmining.com
    Official Website: findmining.com
    App Download: FINDMINING 

    Attachment

    The MIL Network –

  • MIL-OSI: FIND MINING Launches Revolutionary Cloud Mining Mobile App, Opening XRP Ecosystem Profits to Everyone

    Source: GlobeNewswire (MIL-OSI)

    San Mateo County, California, July 02, 2025 (GLOBE NEWSWIRE) — Leading cryptocurrency solutions innovator FIND MINING today announced the official launch of its groundbreaking cloud mining mobile application, enabling anyone with a smartphone to easily earn passive crypto income. This launch coincides with XRP’s latest surge past the $2.30 mark and its recent legal victory, which has ignited a fresh wave of enthusiasm across the global crypto market — highlighting the growing demand for accessible, flexible ways to earn XRP rewards.

    For years, cryptocurrency mining has remained a domain with high entry barriers, costly hardware, and complex technical requirements. FIND MINING aims to break down these walls by creating a mobile-first, universally accessible cloud mining platform. No expensive rigs or complicated setups are needed — just a few simple steps to start earning steady daily crypto income.

    A FIND MINING spokesperson commented:

    “As XRP continues to win important regulatory battles, we see more everyday people eager to safely and easily benefit from this ecosystem boom. FIND MINING was born for this purpose. Our mission is to make passive crypto income accessible to everyone, regardless of technical knowledge or financial means.”

    FIND MINING: Next-Generation XRP Cloud Mining Solution

    Headquartered in London and serving users worldwide, FIND MINING combines cutting-edge mining technology with unmatched ease of use, reaching diverse users from students to retirees with a secure, flexible passive income tool.

    FINDMINING provides retail investors with cloud computing contracts worth investing in as shown below

    Key Highlights of the FIND MINING App:

    • Quick Registration, Instant Reward:
       Users can sign up at findmining.com using just an email to instantly receive a $15 reward. Daily logins grant an additional $0.60, letting newcomers try it out with zero risk.
    • Flexible Contracts, Your Choice:
       Offers mining contracts from as short as 2 days to up to 60 days, with entry thresholds starting at just $100. Contract pricing adjusts transparently in real-time with global exchange rates.
    • Automatic Daily Payouts:
       Once activated, contracts run automatically with daily mining rewards settled directly to users’ accounts.
    • Multi-Currency Support:
       Users can deposit and withdraw with XRP, BTC, ETH, USDT, DOGE, SOL, LTC, BCH, USDC, and other major cryptocurrencies.
    • Military-Grade Security:
       Funds are secured end-to-end by McAfee, with Cloudflare protection against DDoS attacks — keeping your assets safe at all times.
    • Eco-Friendly Operations:
       Fully powered by 100% renewable energy, FIND MINING eliminates the high carbon footprint of traditional mining farms, balancing financial growth with sustainability.
    • 24/7 Global Support:
       A multilingual support team is available around the clock, serving over 9.4million users across 175+ countries.

    As XRP continues its path toward wider global legitimacy and renewed market confidence, FIND MINING aims to become the gateway for everyday people to participate in the XRP ecosystem and build digital wealth with ease.

    Visit findmining.com now, download the FIND MINING App, claim your free reward, and join the crypto wealth revolution designed for everyone!

    About FIND MINING
     Based in London and serving clients worldwide, FIND MINING is a leading provider of cloud mining and passive crypto income solutions. By combining innovative technology, unmatched ease of use, and top-tier security, FIND MINING empowers everyone to safely and simply grow their digital assets, advancing the global democratization of digital wealth.

    Official Emaill: info@findmining.com
    Official Website: findmining.com
    App Download: FINDMINING 

    Attachment

    The MIL Network –

  • MIL-OSI: Plains All American Pipeline and Plains GP Holdings Announce Quarterly Distributions and Timing of Second Quarter 2025 Earnings

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, July 02, 2025 (GLOBE NEWSWIRE) — Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) announced today their quarterly distributions with respect to the second quarter of 2025 and also announced timing of second quarter 2025 earnings.

    Second Quarter Distribution Declaration
    PAA and PAGP announced the following quarterly cash distributions, each of which will be payable on August 14, 2025 to holders of the respective securities at the close of business on July 31, 2025:

    • PAA Common Units – $0.38 per Common Unit ($1.52 per unit on an annualized basis), which is unchanged from the distribution paid in May 2025.
    • PAGP Class A Shares – $0.38 per Class A Share ($1.52 per Class A Share on an annualized basis), which is unchanged from the distribution paid in May 2025.
    • PAA Series A Preferred Units – $0.61524 per Series A Preferred Unit (approximately $2.46 per unit on an annualized basis).

    For its Series B Preferred Units, PAA announced a quarterly distribution of $22.23 per Series B Unit (based on the applicable quarterly floating rate), which will be payable on August 15, 2025 to holders of record at the close of business on August 1, 2025.

    Although equity holders should consult their own tax advisor regarding their particular circumstances, the PAGP cash distribution per Class A Share is expected to be a non-taxable return of capital to the extent of a Class A Shareholder’s tax basis in each PAGP Class A Share and a reduction in such tax basis. In addition, to the extent any cash distribution exceeds a Class A Shareholder’s tax basis, it should be taxable as a capital gain. Qualified Notices under Treasury Regulation Section 1.1446 with respect to the PAA Common Unit distribution and PAA Series B Preferred Unit distribution will be posted on the Plains website under “Investor Relations – Unit Information.”

    Second Quarter 2025 Earnings Timing
    PAA and PAGP also announced that they will release second quarter 2025 earnings before market open on Friday, August 8, 2025. Following the announcement, PAA and PAGP will host a conference call at 9:00 a.m. CT (10 a.m. ET) with analysts and investors to discuss earnings. The call will be webcast live on the internet and may be accessed through the “Investors Relations” section of the website at www.plains.com. An audio replay will be available on the website after the call.

    About Plains
    PAA is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil and natural gas liquids (NGL). PAA owns an extensive network of pipeline gathering and transportation systems, in addition to terminalling, storage, processing, fractionation and other infrastructure assets serving key producing basins, transportation corridors and major market hubs and export outlets in the United States and Canada. On average, PAA handles approximately eight million barrels per day of crude oil and NGL. 

    PAGP is a publicly traded entity that owns an indirect, non-economic controlling general partner interest in PAA and an indirect limited partner interest in PAA, one of the largest energy infrastructure and logistics companies in North America. 

    PAA and PAGP are headquartered in Houston, Texas. More information is available at www.plains.com.

    Investor Relations Contacts:
    Blake Fernandez
    Michael Gladstein
    PlainsIR@plains.com
    (866) 809-1291

    The MIL Network –

  • MIL-OSI: Find Mining Announces Timely Cloud Mining Opportunity – A New Choice for the Volatile Crypto Market to Seize Your Million-Dollar Opportunity

    Source: GlobeNewswire (MIL-OSI)

    London, UK, July 02, 2025 (GLOBE NEWSWIRE) — At a time when the global cryptocurrency market is experiencing turbulent fluctuations, opportunities and risks are equally huge. In the past month, Bitcoin has broken through key resistance levels several times and then quickly fell back; Ethereum has been turbulent during its technological upgrades; and Ripple has been fluctuating in the legal and geopolitical vortex.

    Faced with this unpredictable market, many investors are thinking about a question: Is there a way to participate in the crypto market and enjoy stable and sustainable returns?

    Find Mining, a fast-growing cloud mining company in the UK, has given its own answer.

    Unlike traditional mining machines, Find Mining provides cloud-based mining services:

    No need to buy expensive mining machines

    No need to bear high electricity bills

    No need to worry about hardware depreciation or maintenance

    Users only need to register online and select the appropriate mining contract. Find Mining will allocate computing power to users in its globally distributed data centers and automatically mine around the clock, allowing investors to get rid of technical barriers and easily enjoy profits.

    Sign up and get $15, and novices can also try it at “0 cost”

    In order to lower the entry threshold for new users, Find Mining has set up a welcome bonus for novices:

    1. Sign up and get $15
    2. You can buy a mining contract worth $15 without pre-depositing funds
    3. Daily automatic settlement of income

    This means that even a novice with no experience in cryptocurrency can immediately try zero-risk mining and easily open the door to wealth.

    Funds are safe, compliant and transparent, and users have no worries

    Find Mining takes compliance and security as its core strategy. All customer funds are managed by top banks and equipped with SSL encryption and insurance protection.

    Whether it is investment income or account balance, users can view it in real time through the visual dashboard, and the flow of funds is clear at a glance.

    Not just mining, the referral program helps you create multiple passive income

    In addition to basic mining income, Find Mining has also launched a generous referral reward program to help users expand their income channels:

    First-level commission: You can get a 3% commission on the total investment of the directly recommended user

    Second-level commission: If the referee recommends a new user, you can also get a 1.5% commission

    This means that even if you do not make additional investments, as long as you share your referral link, you can continue to receive passive dividends

    Four steps to start your crypto passive income journey

    Visit Find Mining official website and register to receive a $15 welcome bonus.

    • Select a contract
    • Choose a cloud mining plan that suits you and flexibly match your budget and time period
    • Automatic mining

    After purchasing a contract, the platform will immediately allocate computing power and start, truly achieving 24/7 continuous profitability.

    • Daily income is credited to your account

    The system settles income every 24 hours and directly deposits it into your account, which can be seen and withdrawn at any time.

    Stable income, an “invisible shield” against market fluctuations

    Unlike the wildly fluctuating coin prices, cloud mining income is more stable and predictable.

    Find Mining’s daily income is automatically distributed according to the contract, allowing investors to stay away from the anxiety caused by the ups and downs of the market. For those who desire financial stability, this is undoubtedly a more reassuring choice.

    Grab the million-dollar cloud mining opportunity and start now

    The global crypto market is changing rapidly, and more people are turning their attention to cloud mining, which has a low entry threshold and can bring a smoother long-term profit curve.

    Whether you are a novice who has just come into contact with cryptocurrencies or an old player who has tried cryptocurrency investment, Find Mining may become your “invisible shield” against market uncertainty.

    Sign up now to receive a $15 cloud mining contract and seize the new track of stable income!

    Click to enter the Find Mining official website

    Official email: info@findmining.com

    Disclaimer: This announcement is for informational purposes only and does not constitute financial advice, investment solicitation, or a trading recommendation. Cryptocurrency mining and staking carry risk, including potential loss of capital. Always conduct due diligence and consult a licensed financial advisor before making investment decisions.

    The MIL Network –

  • MIL-OSI Canada: The Government of Canada funds energy projects in Alberta and the Northwest Territories to build a strong, sustainable economy

    Source: Government of Canada News (2)

    July 2, 2025 – Yellowknife, Northwest Territories

    Today, the Honourable Julie Dabrusin, Minister of Environment and Climate Change, visited Denendeh Manor, a four-storey Indigenous-owned apartment building in Yellowknife, to announce over $13.3 million in support of five projects in Alberta and the Northwest Territories.

    These projects are being funded under the Low Carbon Economy Fund (LCEF), which invests in projects that reduce greenhouse gas emissions, generate clean growth, build resilient communities, and create jobs for Canadians through four distinct funding streams. They are essential to building a clean economy and keeping Canadian innovation climate competitive.

    Three of the projects being announced are receiving funding from the LCEF Challenge stream, which supports a variety of organizations in adopting proven, low-carbon technologies to reduce their carbon footprint and stay climate competitive. The other two are receiving funding from the LCEF Indigenous Leadership stream, which supports Indigenous-owned and Indigenous-led renewable energy, energy efficiency, and low-carbon heating projects across Canada.

    • The Sherritt International Corporation is receiving approximately $1.6 million from the Challenge stream to increase the efficiency of the natural gas-fired boilers it uses to generate steam for its fertilizer plant in Fort Saskatchewan, Alberta.
    • Cavendish Farms Corporation is receiving nearly $1.4 million from the Challenge stream to install a heat recovery system and reduce reliance on natural gas at its Lethbridge, Alberta facility.
    • The Taurus Canada Renewable Natural Gas Corporation is receiving approximately $3.4 million from the Challenge stream to construct the world’s first small-scale biogenic carbon capture and storage project, using manure anaerobic digestion on the Kasko Cattle Co. Ltd. feedlot site.
    • Denendeh Manor GP Ltd. is receiving approximately $2.3 million from the Indigenous Leadership stream to improve energy efficiency and low carbon heating at Denendeh Manor in Yellowknife, Northwest Territories.
    • The Inuvialuit Regional Corporation is receiving approximately $4.6 million from the Indigenous Leadership stream to supply ground-mounted solar installation kits to Inuvialuit-owned cabins in the Inuvialuit Settlement Region of the Northwest Territories.

    These investments reaffirm the Government of Canada’s strong commitment to building a clean, sustainable economy for all; achieving its greenhouse gas emission reduction targets; and protecting our environment.

    MIL OSI Canada News –

  • MIL-OSI Canada: The Government of Canada funds energy projects in Alberta and the Northwest Territories to build a strong, sustainable economy

    Source: Government of Canada News (2)

    July 2, 2025 – Yellowknife, Northwest Territories

    Today, the Honourable Julie Dabrusin, Minister of Environment and Climate Change, visited Denendeh Manor, a four-storey Indigenous-owned apartment building in Yellowknife, to announce over $13.3 million in support of five projects in Alberta and the Northwest Territories.

    These projects are being funded under the Low Carbon Economy Fund (LCEF), which invests in projects that reduce greenhouse gas emissions, generate clean growth, build resilient communities, and create jobs for Canadians through four distinct funding streams. They are essential to building a clean economy and keeping Canadian innovation climate competitive.

    Three of the projects being announced are receiving funding from the LCEF Challenge stream, which supports a variety of organizations in adopting proven, low-carbon technologies to reduce their carbon footprint and stay climate competitive. The other two are receiving funding from the LCEF Indigenous Leadership stream, which supports Indigenous-owned and Indigenous-led renewable energy, energy efficiency, and low-carbon heating projects across Canada.

    • The Sherritt International Corporation is receiving approximately $1.6 million from the Challenge stream to increase the efficiency of the natural gas-fired boilers it uses to generate steam for its fertilizer plant in Fort Saskatchewan, Alberta.
    • Cavendish Farms Corporation is receiving nearly $1.4 million from the Challenge stream to install a heat recovery system and reduce reliance on natural gas at its Lethbridge, Alberta facility.
    • The Taurus Canada Renewable Natural Gas Corporation is receiving approximately $3.4 million from the Challenge stream to construct the world’s first small-scale biogenic carbon capture and storage project, using manure anaerobic digestion on the Kasko Cattle Co. Ltd. feedlot site.
    • Denendeh Manor GP Ltd. is receiving approximately $2.3 million from the Indigenous Leadership stream to improve energy efficiency and low carbon heating at Denendeh Manor in Yellowknife, Northwest Territories.
    • The Inuvialuit Regional Corporation is receiving approximately $4.6 million from the Indigenous Leadership stream to supply ground-mounted solar installation kits to Inuvialuit-owned cabins in the Inuvialuit Settlement Region of the Northwest Territories.

    These investments reaffirm the Government of Canada’s strong commitment to building a clean, sustainable economy for all; achieving its greenhouse gas emission reduction targets; and protecting our environment.

    MIL OSI Canada News –

  • MIL-OSI Canada: The Government of Canada funds projects in Alberta and the Northwest Territories to build a strong, sustainable economy

    Source: Government of Canada News

    The Government of Canada announced five projects receiving funding under the Low Carbon Economy Fund.

    The Low Carbon Economy Fund is an important part of Canada’s clean growth and climate action plans. It invests in projects that reduce greenhouse gas emissions, generate clean growth, build resilient communities, and create jobs for Canadians.

    The Low Carbon Economy Fund consists of four funding streams: the Leadership Fund, the Challenge Fund, the Indigenous Leadership Fund, and the Implementation Readiness Fund. Three of the projects announced are being funded by the Challenge Fund, which aims to help organizations adopt proven, low-carbon technologies to cut greenhouse gas emissions. The other two projects are being funded under the Indigenous Leadership Fund, which supports Indigenous-owned and Indigenous-led renewable energy, energy efficiency, and low-carbon heating projects across Canada.

    List of projects

    Recipient: Sherritt International Corporation
    Project title: Boiler Economizer
    Project description: Sherritt operates a production facility in Fort Saskatchewan, Alberta, which refines nickel and cobalt and produces ammonia and ammonium sulphate fertilizer. Sherritt currently uses two natural gas-fired steam boilers to provide steam for process use and heating throughout the facility. This project adds economizers to both boilers to preheat the boiler feedwater using waste heat from the boiler stack exhaust. The boiler economizers will increase boiler efficiency, reduce natural gas use, and reduce greenhouse gas emissions from combustion of natural gas.
    Province/Territory: Alberta
    Funding amount: $1,600,000
    Funding stream: Challenge 2023

    Recipient: Cavendish Farms Corporation
    Project title: Line 1 Fryer Heat Recovery – Lethbridge
    Project description: This project will recover heat energy from fryer exhaust and deposit it in various facility processes requiring heat. By using recovered heat energy, this project will reduce greenhouse gas emissions from combustion of natural gas.
    Province/Territory: Alberta
    Funding amount: $1,375,000
    Funding stream: Challenge 2023

    Recipient: Taurus Canada Renewable Natural Gas Corp.
    Project title: Small-Scale Carbon Capture and Storage from Feedlot Manure Anaerobic Digestion
    Project description: This project involves the design and construction of a small-scale, remote carbon capture system connected to a 100% feedlot manure-based anerobic digestion facility on a feedlot site owned by the Kasko Cattle Co. This project aims to reduce greenhouse gas emissions and contribute to investment and job creation in rural Alberta.
    Province/Territory: Alberta
    Funding amount: $3,405,000
    Funding stream: Challenge 2023

    Recipient: Denendeh Manor GP Ltd.
    Project title: Denendeh Manor Energy Efficiency Retrofit Project
    Project description: The project aims to improve energy efficiency and low carbon heating at Denendeh Manor, a four-storey, Indigenous-owned apartment building in Yellowknife, Northwest Territories. The upgrades will include a wood pellet biomass heating system, energy-efficient windows and doors, fire-smart siding, enhanced insulation, air sealing, better ventilation, LED lighting, and a rooftop solar hot water preheat array with a sewage heat recovery system. The goal is to increase the energy efficiency of the building and eliminate oil-fired heating, while also reducing greenhouse gas emissions, lowering utility costs, and creating jobs.
    Province/Territory: Northwest Territories
    Funding amount: $2,330,000
    Funding stream: Indigenous Leadership Fund

    Recipient: Inuvialuit Regional Corporation
    Project title: ISR Renewable Energy Cabin Retrofit
    Project description: The ISR Renewable Energy Cabin Retrofit project is to be delivered by the Inuvialuit Regional Corporation. The project aims to supply ground-mounted solar installation kits to Inuvialuit-owned cabins in the Inuvialuit Settlement Region (ISR), located in the Northwest Territories. To improve the accessibility, usability, and longevity of the solar photovoltaic (PV) systems, the project would support solar panel installation and maintenance workshops in six Inuvialuit Settlement Region communities. The project would also include a call for project proposals for Inuvialuit Settlement Region communities with the intention of providing funding to one or more selected projects that would support greenhouse gas emission reductions, generate clean growth, and build capacity in the Inuvialuit Settlement Region communities. The primary object of the project is to increase accessibility to clean energy sources for Inuvialuit in the Inuvialuit Settlement Region.
    Province: Northwest Territories
    Funding amount/Territory: $4,650,000
    Funding stream: Indigenous Leadership Fund

    MIL OSI Canada News –

  • MIL-OSI Canada: The Government of Canada funds projects in Alberta and the Northwest Territories to build a strong, sustainable economy

    Source: Government of Canada News

    The Government of Canada announced five projects receiving funding under the Low Carbon Economy Fund.

    The Low Carbon Economy Fund is an important part of Canada’s clean growth and climate action plans. It invests in projects that reduce greenhouse gas emissions, generate clean growth, build resilient communities, and create jobs for Canadians.

    The Low Carbon Economy Fund consists of four funding streams: the Leadership Fund, the Challenge Fund, the Indigenous Leadership Fund, and the Implementation Readiness Fund. Three of the projects announced are being funded by the Challenge Fund, which aims to help organizations adopt proven, low-carbon technologies to cut greenhouse gas emissions. The other two projects are being funded under the Indigenous Leadership Fund, which supports Indigenous-owned and Indigenous-led renewable energy, energy efficiency, and low-carbon heating projects across Canada.

    List of projects

    Recipient: Sherritt International Corporation
    Project title: Boiler Economizer
    Project description: Sherritt operates a production facility in Fort Saskatchewan, Alberta, which refines nickel and cobalt and produces ammonia and ammonium sulphate fertilizer. Sherritt currently uses two natural gas-fired steam boilers to provide steam for process use and heating throughout the facility. This project adds economizers to both boilers to preheat the boiler feedwater using waste heat from the boiler stack exhaust. The boiler economizers will increase boiler efficiency, reduce natural gas use, and reduce greenhouse gas emissions from combustion of natural gas.
    Province/Territory: Alberta
    Funding amount: $1,600,000
    Funding stream: Challenge 2023

    Recipient: Cavendish Farms Corporation
    Project title: Line 1 Fryer Heat Recovery – Lethbridge
    Project description: This project will recover heat energy from fryer exhaust and deposit it in various facility processes requiring heat. By using recovered heat energy, this project will reduce greenhouse gas emissions from combustion of natural gas.
    Province/Territory: Alberta
    Funding amount: $1,375,000
    Funding stream: Challenge 2023

    Recipient: Taurus Canada Renewable Natural Gas Corp.
    Project title: Small-Scale Carbon Capture and Storage from Feedlot Manure Anaerobic Digestion
    Project description: This project involves the design and construction of a small-scale, remote carbon capture system connected to a 100% feedlot manure-based anerobic digestion facility on a feedlot site owned by the Kasko Cattle Co. This project aims to reduce greenhouse gas emissions and contribute to investment and job creation in rural Alberta.
    Province/Territory: Alberta
    Funding amount: $3,405,000
    Funding stream: Challenge 2023

    Recipient: Denendeh Manor GP Ltd.
    Project title: Denendeh Manor Energy Efficiency Retrofit Project
    Project description: The project aims to improve energy efficiency and low carbon heating at Denendeh Manor, a four-storey, Indigenous-owned apartment building in Yellowknife, Northwest Territories. The upgrades will include a wood pellet biomass heating system, energy-efficient windows and doors, fire-smart siding, enhanced insulation, air sealing, better ventilation, LED lighting, and a rooftop solar hot water preheat array with a sewage heat recovery system. The goal is to increase the energy efficiency of the building and eliminate oil-fired heating, while also reducing greenhouse gas emissions, lowering utility costs, and creating jobs.
    Province/Territory: Northwest Territories
    Funding amount: $2,330,000
    Funding stream: Indigenous Leadership Fund

    Recipient: Inuvialuit Regional Corporation
    Project title: ISR Renewable Energy Cabin Retrofit
    Project description: The ISR Renewable Energy Cabin Retrofit project is to be delivered by the Inuvialuit Regional Corporation. The project aims to supply ground-mounted solar installation kits to Inuvialuit-owned cabins in the Inuvialuit Settlement Region (ISR), located in the Northwest Territories. To improve the accessibility, usability, and longevity of the solar photovoltaic (PV) systems, the project would support solar panel installation and maintenance workshops in six Inuvialuit Settlement Region communities. The project would also include a call for project proposals for Inuvialuit Settlement Region communities with the intention of providing funding to one or more selected projects that would support greenhouse gas emission reductions, generate clean growth, and build capacity in the Inuvialuit Settlement Region communities. The primary object of the project is to increase accessibility to clean energy sources for Inuvialuit in the Inuvialuit Settlement Region.
    Province: Northwest Territories
    Funding amount/Territory: $4,650,000
    Funding stream: Indigenous Leadership Fund

    MIL OSI Canada News –

  • MIL-OSI USA: Summer 2025 Newsletter – In The Flow

    Source: US Geological Survey

    The U.S. Geological Survey (USGS) was on the scene in Western Maryland to collect water data during and after the flooding caused by several inches of rain. Quantifying floods is vital for planning infrastructure that can withstand such extremes in the future.

    As the flooding occurred, USGS crews traversed the area, collecting high flow measurements at over two dozen locations in Garrett, Allegany, and Washington counties. The job was challenging as certain roads were difficult or impossible to pass due to flooding.

    USGS crews also attempted to measure high flow at Georges Creek, which was at the epicenter of flooding in the town of Westernport, Maryland, and near the site of the school evacuation, but it was too dangerous. Our crew returned when it was safer to collect two streamflow measurements while flows were still elevated, and then later when flooding subsided, identified high-water marks to estimate the volume of water during the peak of the flood.

    Days later, evidence of the damage caused by the flood were visible throughout Westernport and across towns in the area, including at Georges Creek, where flooding caused the ground to collapse beneath an unused train line, leaving rails that were twisted mid-air and dangling for several dozen yards, yet somehow still connected on the other side.

    The USGS, EPA, along with federal, state, and local partners collect water samples at over a hundred locations across the Chesapeake Bay watershed, including the Choptank River as seen here.

    The U.S. Geological Survey (USGS) recently published flow-normalized trends in loads of nitrogen, phosphorus, and suspended sediment for the Chesapeake Bay Watershed from water years 1985 through 2023. This monitoring-based information provides federal, state, and local managers with accurate and timely information about the health of streams and rivers entering the Bay.

    Understanding changes in the 64,000 square mile Chesapeake Bay watershed is critical to understanding the health of the Bay. States in the Bay watershed recognized this and in 2004 they formed the Non-Tidal Network (NTN), a collection of 123 monitoring stations that follow standard sampling protocols and analysis methods.

    Spanning six states from New York to Virginia, as well as the District of Columbia, the consistency of the NTN provides accurate information on conditions and changes in water quality.

    This is no small task and is only possible through teamwork from local, state, and federal partners who collect and analyze information from the 123 NTN stations. The total NTN dataset has over 51,000 samples — that’s about 3.5 samples collected every single day since 1985! The USGS plays a critical role in the NTN, providing information on how much water is flowing at the gages, collecting samples, and analyzing load and trend results.

    A map of the Chesapeake Bay watershed showing the distribution of Non-Tidal Network (NTN) stations as of 2023.

    But the data doesn’t collect itself. It takes dedicated people from federal, state, and local partner agencies, including the USGS, to sample all 123 stations routinely.

    On a chilly morning in early March 2024, Kelly McVicker and Shane Mizelle, two hydrologic technicians from the USGS, made their way out to the catwalk of the Conowingo Dam to collect water samples after a storm.

    Over the next hour, they repeatedly lowered a sampling bottle into the turbid, roaring waters some several dozen feet below, bringing it back up and transferring it to a larger container. They repeated this procedure at multiple points along the wide river to ensure that the sample would represent the conditions of the river at that particular point in time.

    Month after month, and sometimes more frequently as dictated by storms, technicians from the USGS and other agencies repeat this process across 123 stations. In each instance the technicians follow consistent sampling collection, storage and analysis to allow for comparison over the entire network.

    After the field, the samples are shipped to laboratories and analyzed, and laboratory staff run quality assurance tests.

    Next, the data are returned to the collecting agencies and reviewed by their staff. If the data are approved and nothing is out of line, they are submitted to the Chesapeake Environmental Data Repository where the data are reviewed before inclusion.

    Now, nutrient and sediment loads and trends can be calculated from the data.

    USGS scientists use a statistical method known as Weighted Regressions on Time, Discharge and Season (WRTDS) to compute the flow-normalized load of nutrients and sediment at each station for each year the data are available. A station can have a load computed after 5 years of data, and after 10 years, the scientists will run a trend analysis to determine if the load is increasing, decreasing, or has no discernable trend.

    The results computed at the 123 stations include trends in suspended sediment and total and dissolved nitrogen and phosphorus. Each year’s results are compared against the historic record to ensure a consistent dataset is used.

    Following the load and trend analyses, the data are published in a data release, updated on a website and the results are distributed to NTN partners and other Chesapeake Bay stakeholders.

    This tremendous effort would not be possible without the support of local and state governments and non-profits across the Chesapeake region.

    USGS installs three temporary groundwater stations to monitor drought conditions in Delaware

    Jacob Mavrogeorge builds a groundwater gage in Delaware.

    The U.S. Geological Survey installed groundwater stations in three locations across the state to monitor groundwater levels, doubling the number of active groundwater stations in Delaware operated by USGS from 3 to 6.

    Until June 2025, Delaware was in a state of drought according to the U.S. Drought Monitor, and these sites were selected with the help of the Delaware Geological Survey to track groundwater levels throughout the state.

    Monitoring at these sites will continue through at least September 30, 2025.

    Funding was provided through the USGS Next Generation Water Observing System program (NGWOS) in response to drought conditions that had persisted since last summer.

    View data from these sites, DE-Cb12-10, DE-Gb55-08, DE-Ng11-37.

    Additional Updates to our Water Monitoring Network

    This Winter and Spring we added the following sites to our monitoring network:

    • Piscataway Creek at Joint Base Andrews, MD (01653521): Gage height, specific conductance, temperature, and turbidity.
    • Piscataway Creek Tributary at Joint Base Andrews, MD (01653522): Gage height, specific conductance, temperature, and turbidity.

    We also added HIVIS cameras to the following sites:

    • Whitemarsh Run at White Marsh, MD (01585100) 
    • Mattawoman Creek Near Pomonkey, MD (01658000) 
    • Beaverdam Creek Near Cheverly, MD (01651730) 
    • Watts Branch at Washington, DC (01651800) 
    Reductions to Data Collection at a Handful of Monitoring Sites

    Given proposed budget cuts from a cooperating agency, we foresee the following reductions to data collection at a handful of sites beginning on October 1, 2025. If there are questions concerning these sites, please email gs-w-mdtws_information@usgs.gov.

    The following sites will be fully discontinued. Although historical data will remain accessible, no new data will be collected:

    • Rock Creek at Sherrill Drive, Washington, DC (01648000): Continuous discharge.
    • Luzon Branch above Rock Creek at Washington, DC (01648011): Continuous discharge and water temperature.
    • Anacostia River at Kenilworth at Washington, DC (01651760): Continuous discharge water temperature, specific conductance, pH, dissolved oxygen, and turbidity.
    • Anacostia River near Buzzard Point at Washington, DC (01651827): Continuous discharge, water temperature, specific conductance, and turbidity.

    Watts Branch at Washington, DC (01651800) will lose its continuous discharge reporting, but all other continuous measurements will remain.

    Discrete metals and bacteria water-quality analyses (cadmium, copper, lead, zinc, mercury, E. coli bacteria) at the following sites will be discontinued; however other water-quality parameters (phosphorus, nitrogen, and suspended sediment) will still be collected:

    • Rock Creek at Joyce Road, Washington, DC (01648010) 
    • Hickey Run at National Arboretum at Washington, DC (01651770)
    • Watts Branch at Washington, DC (01651800)

    Stay Up-To-Date On Our Latest Science

    These are the latest publications that our Center’s scientists contributed to:

    MIL OSI USA News –

  • MIL-OSI USA: Summer 2025 Newsletter – In The Flow

    Source: US Geological Survey

    The U.S. Geological Survey (USGS) was on the scene in Western Maryland to collect water data during and after the flooding caused by several inches of rain. Quantifying floods is vital for planning infrastructure that can withstand such extremes in the future.

    As the flooding occurred, USGS crews traversed the area, collecting high flow measurements at over two dozen locations in Garrett, Allegany, and Washington counties. The job was challenging as certain roads were difficult or impossible to pass due to flooding.

    USGS crews also attempted to measure high flow at Georges Creek, which was at the epicenter of flooding in the town of Westernport, Maryland, and near the site of the school evacuation, but it was too dangerous. Our crew returned when it was safer to collect two streamflow measurements while flows were still elevated, and then later when flooding subsided, identified high-water marks to estimate the volume of water during the peak of the flood.

    Days later, evidence of the damage caused by the flood were visible throughout Westernport and across towns in the area, including at Georges Creek, where flooding caused the ground to collapse beneath an unused train line, leaving rails that were twisted mid-air and dangling for several dozen yards, yet somehow still connected on the other side.

    The USGS, EPA, along with federal, state, and local partners collect water samples at over a hundred locations across the Chesapeake Bay watershed, including the Choptank River as seen here.

    The U.S. Geological Survey (USGS) recently published flow-normalized trends in loads of nitrogen, phosphorus, and suspended sediment for the Chesapeake Bay Watershed from water years 1985 through 2023. This monitoring-based information provides federal, state, and local managers with accurate and timely information about the health of streams and rivers entering the Bay.

    Understanding changes in the 64,000 square mile Chesapeake Bay watershed is critical to understanding the health of the Bay. States in the Bay watershed recognized this and in 2004 they formed the Non-Tidal Network (NTN), a collection of 123 monitoring stations that follow standard sampling protocols and analysis methods.

    Spanning six states from New York to Virginia, as well as the District of Columbia, the consistency of the NTN provides accurate information on conditions and changes in water quality.

    This is no small task and is only possible through teamwork from local, state, and federal partners who collect and analyze information from the 123 NTN stations. The total NTN dataset has over 51,000 samples — that’s about 3.5 samples collected every single day since 1985! The USGS plays a critical role in the NTN, providing information on how much water is flowing at the gages, collecting samples, and analyzing load and trend results.

    A map of the Chesapeake Bay watershed showing the distribution of Non-Tidal Network (NTN) stations as of 2023.

    But the data doesn’t collect itself. It takes dedicated people from federal, state, and local partner agencies, including the USGS, to sample all 123 stations routinely.

    On a chilly morning in early March 2024, Kelly McVicker and Shane Mizelle, two hydrologic technicians from the USGS, made their way out to the catwalk of the Conowingo Dam to collect water samples after a storm.

    Over the next hour, they repeatedly lowered a sampling bottle into the turbid, roaring waters some several dozen feet below, bringing it back up and transferring it to a larger container. They repeated this procedure at multiple points along the wide river to ensure that the sample would represent the conditions of the river at that particular point in time.

    Month after month, and sometimes more frequently as dictated by storms, technicians from the USGS and other agencies repeat this process across 123 stations. In each instance the technicians follow consistent sampling collection, storage and analysis to allow for comparison over the entire network.

    After the field, the samples are shipped to laboratories and analyzed, and laboratory staff run quality assurance tests.

    Next, the data are returned to the collecting agencies and reviewed by their staff. If the data are approved and nothing is out of line, they are submitted to the Chesapeake Environmental Data Repository where the data are reviewed before inclusion.

    Now, nutrient and sediment loads and trends can be calculated from the data.

    USGS scientists use a statistical method known as Weighted Regressions on Time, Discharge and Season (WRTDS) to compute the flow-normalized load of nutrients and sediment at each station for each year the data are available. A station can have a load computed after 5 years of data, and after 10 years, the scientists will run a trend analysis to determine if the load is increasing, decreasing, or has no discernable trend.

    The results computed at the 123 stations include trends in suspended sediment and total and dissolved nitrogen and phosphorus. Each year’s results are compared against the historic record to ensure a consistent dataset is used.

    Following the load and trend analyses, the data are published in a data release, updated on a website and the results are distributed to NTN partners and other Chesapeake Bay stakeholders.

    This tremendous effort would not be possible without the support of local and state governments and non-profits across the Chesapeake region.

    USGS installs three temporary groundwater stations to monitor drought conditions in Delaware

    Jacob Mavrogeorge builds a groundwater gage in Delaware.

    The U.S. Geological Survey installed groundwater stations in three locations across the state to monitor groundwater levels, doubling the number of active groundwater stations in Delaware operated by USGS from 3 to 6.

    Until June 2025, Delaware was in a state of drought according to the U.S. Drought Monitor, and these sites were selected with the help of the Delaware Geological Survey to track groundwater levels throughout the state.

    Monitoring at these sites will continue through at least September 30, 2025.

    Funding was provided through the USGS Next Generation Water Observing System program (NGWOS) in response to drought conditions that had persisted since last summer.

    View data from these sites, DE-Cb12-10, DE-Gb55-08, DE-Ng11-37.

    Additional Updates to our Water Monitoring Network

    This Winter and Spring we added the following sites to our monitoring network:

    • Piscataway Creek at Joint Base Andrews, MD (01653521): Gage height, specific conductance, temperature, and turbidity.
    • Piscataway Creek Tributary at Joint Base Andrews, MD (01653522): Gage height, specific conductance, temperature, and turbidity.

    We also added HIVIS cameras to the following sites:

    • Whitemarsh Run at White Marsh, MD (01585100) 
    • Mattawoman Creek Near Pomonkey, MD (01658000) 
    • Beaverdam Creek Near Cheverly, MD (01651730) 
    • Watts Branch at Washington, DC (01651800) 
    Reductions to Data Collection at a Handful of Monitoring Sites

    Given proposed budget cuts from a cooperating agency, we foresee the following reductions to data collection at a handful of sites beginning on October 1, 2025. If there are questions concerning these sites, please email gs-w-mdtws_information@usgs.gov.

    The following sites will be fully discontinued. Although historical data will remain accessible, no new data will be collected:

    • Rock Creek at Sherrill Drive, Washington, DC (01648000): Continuous discharge.
    • Luzon Branch above Rock Creek at Washington, DC (01648011): Continuous discharge and water temperature.
    • Anacostia River at Kenilworth at Washington, DC (01651760): Continuous discharge water temperature, specific conductance, pH, dissolved oxygen, and turbidity.
    • Anacostia River near Buzzard Point at Washington, DC (01651827): Continuous discharge, water temperature, specific conductance, and turbidity.

    Watts Branch at Washington, DC (01651800) will lose its continuous discharge reporting, but all other continuous measurements will remain.

    Discrete metals and bacteria water-quality analyses (cadmium, copper, lead, zinc, mercury, E. coli bacteria) at the following sites will be discontinued; however other water-quality parameters (phosphorus, nitrogen, and suspended sediment) will still be collected:

    • Rock Creek at Joyce Road, Washington, DC (01648010) 
    • Hickey Run at National Arboretum at Washington, DC (01651770)
    • Watts Branch at Washington, DC (01651800)

    Stay Up-To-Date On Our Latest Science

    These are the latest publications that our Center’s scientists contributed to:

    MIL OSI USA News –

  • MIL-OSI Security: Brothers Sentenced for Violent Assault and Firearm Confrontation on Navajo Nation

    Source: US FBI

    ALBUQUERQUE – Two brothers from Fruitland, New Mexico were sentenced for their roles in a violent assault and subsequent confrontation with law enforcement on the Navajo Nation.

    There is no parole in the federal system.

    According to court records, on March 23, 2024, Justin Tso, 38, and his brother Walliford Tso, 37, enrolled members of the Navajo Nation, went to the residence of John Doe, where Doe lived with his girlfriend and her son. As the brothers were departing the home, Justin took a machete without permission and walked away. John Doe armed himself with an axe and demanded the return of the machete. In response, Justin and Walliford charged at John Doe, leading to a violent altercation.

    The brothers pursued John Doe back into the residence, where they assaulted him in front of his family, punching him and throwing objects, including a tire rim, pipe, and large rock. John Doe was able to escape and call police. During the incident, the brothers caused significant property damage, including smashing car windows and damaging vehicles.

    Navajo Nation Police responded to the scene. During the attempt to apprehend the suspects, Walliford pointed a rifle at officers before surrendering. Walliford and Justin were both found to be intoxicated at the time of the incident.

    Walliford and Justin each pled guilty to one count of assault with a dangerous weapon and were sentenced to 24 months in prison followed by two years of supervised release.

    U.S. Attorney Ryan Ellison and Philip Russell, Acting Special Agent in Charge of the Federal Bureau of Investigation’s Albuquerque Field Office, made the announcement today.

    The Farmington Resident Agency of the Federal Bureau of Investigation’s Albuquerque Field Office investigated this case with assistance from the Navajo Police Department and Navajo Department of Criminal Investigations. Assistant United States Attorney Meg Tomlinson is prosecuting the case.

    MIL Security OSI –

  • MIL-OSI Russia: Shanghai Launches Multifunctional Easy Go Platform for Foreign Visitors

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    SHANGHAI, July 2 (Xinhua) — East China’s Shanghai Municipality launched Easy Go, a multi-functional digital service platform for foreign tourists, on Wednesday. The city has recently attracted more overseas visitors thanks to its expanded visa-free regime and instant tax refund policy.

    The platform, developed by the Shanghai People’s Government External Affairs Office and the People’s Bank of China Shanghai Office together with other relevant city departments, relies on the international version of Alipay and integrates consumer services and tourism information, eliminating the need to download multiple apps and eliminating language barriers.

    Overseas users can register with one click and gain access to 30 mini-programs in four key areas: dining, transportation, sightseeing, and shopping. Key features include food delivery, restaurant recommendations, public transportation information, taxi hailing, travel recommendations, ticket booking, luggage storage, and tax refund point information. The platform operates primarily in English and offers real-time translation into multiple languages.

    Easy Go has a “Tax Refund” feature that integrates a map of city tax refund points, and provides updated Shanghai travel guides and travel tips. The platform also features videos from media and bloggers promoting Shanghai and China.

    “Easy Go is a very convenient platform because it brings together different daily services,” said Clarisse Le Guernic from France. “Foreign tourists coming to Shanghai don’t need to download many different apps, they can make a payment, translate a phrase, order food and use a bike rental on one platform.”

    As of June, citizens of 55 countries can enjoy 240-hour visa-free transit in China. In addition, China unilaterally expanded the visa-free entry program, allowing travelers from 47 countries to stay in the country visa-free for up to 30 days. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: China completes list of key construction projects for 2025 worth 800 billion yuan

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    BEIJING, July 2 (Xinhua) — Chinese authorities have finalized and released a complete list of key construction projects for this year aimed at implementing major national strategies and enhancing security capabilities in priority areas, the National Development and Reform Commission of the People’s Republic of China said on Wednesday.

    The department noted that after the recent allocation of more than 300 billion yuan for the third / final / group of projects in 2025, the total amount of allocated funds amounted to 800 billion yuan / about 111.8 billion US dollars /.

    The NSC said the funds will support 1,459 projects in priority areas including restoration of the Yangtze River basin ecosystem, major transportation infrastructure projects along the Yangtze River, the new western land-sea corridor, high-standard farmland, major water conservancy projects and urban underground pipelines.

    The department promised to speed up new reform measures in priority areas, including improving the financing models for the Yangtze River railway, establishing and improving the operation mechanisms of underground pipelines, and optimizing the planning of national logistics hubs.

    China is making efforts to expand effective investment and stimulate consumption. In addition to the implementation of the above-mentioned significant projects, support for large-scale equipment renewal programs and trade-in for consumer goods is also being increased.

    In 2025, to support the trade-in program, the Chinese authorities issued ultra-long special treasury bonds totaling 300 billion yuan, with the first two tranches of financing totaling 162 billion yuan allocated in January and April, respectively. The third tranche is scheduled for July.

    China’s gross domestic product grew 5.4 percent year-on-year in the first quarter of 2025. The economic growth target for this year is around 5 percent. –0–

    MIL OSI Russia News –

  • MIL-OSI: Compass Diversified Declares Second Quarter 2025 Distributions on Series A, B and C Preferred Shares

    Source: GlobeNewswire (MIL-OSI)

    WESTPORT, Conn., July 02, 2025 (GLOBE NEWSWIRE) — Compass Diversified (NYSE: CODI) (“CODI” or the “Company”), an owner of leading middle market businesses, announced today that its Board of Directors (the “Board”) has declared a quarterly cash distribution for each of its three preferred share series. This announcement underscores that in the wake of its ongoing investigation of Lugano, the Company’s diversified business model supports its continued ability to generate strong cash flow.

    The Board declared a quarterly cash distribution of $0.453125 per share on the Company’s 7.250% Series A Preferred Shares (the “Series A Preferred Shares”). The distribution on the Series A Preferred Shares covers the period from, and including, April 30, 2025, up to, but excluding, July 30, 2025. The distribution for such period is payable on July 30, 2025, to all holders of record of Series A Preferred Shares as of July 15, 2025.

    The Board also declared a quarterly cash distribution of $0.4921875 per share on the Company’s 7.875% Series B Preferred Shares (the “Series B Preferred Shares”). The distribution on the Series B Preferred Shares covers the period from, and including, April 30, 2025, up to, but excluding, July 30, 2025. The distribution for such period is payable on July 30, 2025, to all holders of record of Series A Preferred Shares as of July 15, 2025.

    The Board also declared a quarterly cash distribution of $0.4921875 per share on the Company’s 7.875% Series C Preferred Shares (the “Series C Preferred Shares”). The distribution on the Series C Preferred Shares covers the period from, and including, April 30, 2025, up to, but excluding, July 30, 2025. The distribution for such period is payable on July 30, 2025, to all holders of record of Series A Preferred Shares as of July 15, 2025.

    CODI’s preferred cash distributions should generally constitute “qualified dividends” for U.S. federal income tax purposes to the extent they are paid from “earnings and profits” (as determined under U.S. federal income tax principles), provided that the requisite holding period is met. To the extent that the amount of cash distributions exceeds earnings and profits, such distribution will first be treated as a non-taxable return of capital to the extent of the holder’s adjusted tax basis in the shares and thereafter be treated as a capital gain from the sale or exchange of such shares.

    About Compass Diversified

    Since its IPO in 2006, CODI has consistently executed its strategy of owning and managing a diverse set of highly defensible, middle-market businesses across the branded consumer, industrial, healthcare, and critical outsourced services sectors. The Company leverages its permanent capital base, long-term disciplined approach, and actionable expertise to maintain controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment and accountability. For more information, please visit compassdiversified.com.

    Forward Looking Statements
    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, including without limitation, CODI’s expectations as to the timing and outcome of the Lugano investigation, CODI’s credit availability and future liquidity, actions taken in response to the outcome of the investigation, the future performance of Lugano and CODI’s other subsidiaries, the filing or delay of CODI’s periodic reports, and the amount of any potential misstatements associated with Lugano and the impact any such misstatements may have on CODI’s previously issued financial statements or results of operations. Such forward looking statements may be identified by, among other things, the use of forward-looking terminology such as “believe,” “expect,” “may,” “could,” “would,” “plan,” “intend,” “estimate,” “predict,” “potential,” “continue,” “should” or “anticipate” or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. These statements are based on beliefs and assumptions by the Board of Directors and management, and on information currently available to CODI’s Board of Directors and management. These statements involve risk and uncertainties that could cause CODI’s actual results and outcomes to differ, perhaps materially, including but not limited to: the discovery of additional information relevant to the investigation; the conclusions (and timing of those conclusions) concerning matters relating to the investigation; the timing of the review by, and the conclusions of, Grant Thornton regarding the investigation and CODI’s financial statements; a further material delay in CODI’s financial reporting or ability to hold an annual meeting of stockholders; the impacts of restatement reviews; the likelihood that the control deficiencies identified or that may be identified in the future will result in material weaknesses in CODI’s internal control over financial reporting; and commercial litigation relating to the investigation, including CODI’s representations regarding its financial statements, and the possibility of future litigation or investigation relating to CODI’s internal controls, restatement reviews, the investigation, or related matters. Please see CODI’s Annual Report on Form 10-K for the year ended December 31, 2024 for other risk factors that you should consider in connection with such forward-looking statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date such statements have been made. Except as required by law CODI does not undertake any public obligation to update any forward-looking statements to reflect events, circumstances, or new information after the date of this press release, or to reflect the occurrence of unanticipated events.

    Investor Relations
    Compass Diversified
    irinquiry@compassdiversified.com

    Source: Compass Diversified Holdings

    The MIL Network –