NewzIntel.com

Category: Vehicles

  • MIL-OSI China: Spanish scholar highlights AI’s role in cross-cultural exchange

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

    Juan Manuel Corchado, rector and AI professor at the University of Salamanca, delivers a lecture titled “From Understanding to Dialogue: The Power of AI to Unite People and Nations” at Tsinghua University in Beijing, May 15, 2025. [Photo by Wang Yiming/China.org.cn]

    For two nations with rich cultural heritages and growing technological ambitions like Spain and China, artificial intelligence (AI) offers a unique opportunity to forge deeper ties, said Juan Manuel Corchado, rector and chair professor of artificial intelligence, computer science and cybersecurity at the University of Salamanca.

    During a recent visit to China from May 13-15, Corchado led a Spanish academic delegation that met with representatives from some of China’s top universities, including Peking University and Tsinghua University, to explore opportunities for educational cooperation and AI-powered cultural exchange.

    In an interview with China.org.cn, Corchado elaborated on how AI can facilitate cultural exchange and strengthen academic ties between China and Spain, and his views of AI as a powerful enabler for stronger bilateral ties.

    He explained that advanced AI models, such as large language models (LLMs) and retrieval-augmented generation (RAG) systems, have the capability to “analyze the cultural context of a conversation” and adjust their responses to respect local traditions and customs. This contextual awareness helps avert misunderstandings and promotes culturally sensitive communication. Moreover, AI can analyze cultural trends and perspectives, providing valuable insights to support international decision-making.

    He also emphasized AI’s ability for “smart translation,” which goes beyond simple language conversion by accurately interpreting idiomatic expressions unique to each culture while maintaining their original meaning. Additionally, Corchado pointed out that AI enables “real-time multilingual communication,” effectively breaking down language barriers and fostering collaboration and mutual understanding across nations.

    Beyond language, Corchado highlighted that AI can identify and understand philosophical concepts unique to certain cultures. For example, AI models can explain the differences between Western and Eastern thought, further bridging cultural divides and enhancing cross-cultural dialogue.

    As a concrete example of AI’s application in cultural exchange, Juan Corchado highlighted the University of Salamanca’s plan to open a Confucius Institute at the end of this month, integrating AI into its teaching approach.

    “The Confucius Institute will promote Chinese language and culture,” Corchado said. “But now that we offer all our students courses in AI, we believe we can combine AI with Confucius education.”

    He explained that the university provides AI courses to all students because everyone has the ability to adopt AI to become a better professional. Taking advantage of current AI advancements alongside Chinese language learning, the university plans to use innovative tools such as the latest generative AI models and RAG technology to develop specialized systems for teaching Chinese language and culture.

    “We can customize all the information we have about China to meet the needs of each individual user,” Corchado noted. “This is a great advantage. By combining the traditional Confucius teaching approach with the power of AI, we aim to create knowledge that reaches far more people, adapting to their specific learning needs.”

    Reflecting on his visit to China 10 years ago, he said he was struck this time by the country’s remarkable progress. “I’m impressed with the level of technology you apply in society to all elements, and how everything is so well thought out and made for the people,” he said.

    Corchado was also particularly impressed by the close relationship between Chinese universities, society and industry. “I visited several companies that are proud of their cooperation with universities,” he said. “And the universities, in turn, proudly speak of how many of their former students are now working at top technology companies such as DeepSeek and Lenovo. This synergy between academia and industry is impressive and shows how education directly benefits society.”

    Corchado praised China’s leadership in AI, attributing it to a powerful combination of investment, infrastructure and talent. “I believe the top power in AI worldwide is China,” he said. “You have the funding to develop large language models like DeepSeek and to build the computing clusters they require. But even more important is the human capital to develop these platforms.”

    “I’ve studied several Chinese tech firms, and I’m really impressed by the level of knowledge and capability I’ve seen,” he said.

    Acknowledging China’s leading role in AI, Corchado stressed the importance of collaboration. “We need to be closer to those who know more than us, to learn more,” he said, emphasizing the critical role academic institutions can play in fostering cross-cultural understanding, especially in the age of AI.

    He highlighted the University of Salamanca’s longstanding engagement with China. “We are a more than 800-year-old university with one of the strongest Asian studies programs, especially focused on China,” he said.

    The university hosts around 600 Chinese students annually — roughly one-tenth of its international student body — and receives many more for short-term courses. In addition to academic partnerships, Salamanca’s science park is also home to companies doing business with China, strengthening links across education, research and industry.

    “Universities trust each other. We are accustomed to collaborating, communicating and working jointly on projects. This kind of cooperation helps us not only to accomplish academic goals, but also to gain a deeper understanding of one another’s cultures,” he added.

    MIL OSI China News –

  • MIL-OSI United Kingdom: Funding for Highland Active Travel projects welcomed

    Source: Scotland – Highland Council

    The Highland Council has successfully secured funding from Transport Scotland for two Active Travel projects which will make it easier for people to walk, wheel and cycle for everyday journeys.

    Chair of the Economy and Infrastructure Committee, Councillor Ken Gowans said: “This is terrific news. There are many benefits of active travel. It is beneficial for individual health, it is a cheaper form of transport, can help the shift to low carbon travel, improve air quality and can produce an increase in productivity and footfall in town centres and other locations.”

    “The Council is working to deliver a low carbon transport network to tackle the climate and ecological emergency. Essentially this means making it easier, safer and more convenient for people to walk, wheel and cycle. The projects in Wick town centre and in Culbokie on the Black Isle both complement our work already underway and I’m delighted we can now press on with plans at both locations.”

    The Wick Street Design project has been awarded funding to make improvements to the Bridge Street / High Street junction to make it easier and safer for pedestrians to cross and reach the High Street from nearby car parks.  The High Street’s pedestrian zone will be resurfaced, and rising bollards will be installed at both ends to control vehicle access and slow down authorised traffic, enhancing pedestrian safety.  The project also includes new seating, planting, and artwork inspired by the Market Cross and local culture.

    The Highland Council has been awarded funding to deliver the Culbokie Active Travel Village project which aims to make it easier, safer and more enjoyable for people spending time in the village walking, pushing buggies, using wheelchairs or mobility scooters, as well as cycling for all ages and abilities.  The existing footpaths will be widened to 2 metres where necessary and new footpaths will be built so people can walk through the village without crossing the road.  A new light controlled pedestrian crossing will also be installed along with physical traffic calming features including raised table junctions, carriageway pinch points and build-outs.

    The tendering process is underway for the Wick and Culbokie projects with work expected to be completed by 31 March 2026.

    In addition to funding for these two projects Transport Scotland will be delivering on the designs for improved non-motorized user transport provision at the Raigmore Interchange in Inverness, making it safer and more convenient for pedestrians, cyclists, and those using wheelchairs.  The scheme will include full signalisation of the Interchange providing controlled pedestrian and cycle crossings.

    MIL OSI United Kingdom –

  • Russians and Ukrainians in Turkey for what would be first talks in 3 year

    Source: Government of India

    Source: Government of India (4)

    Russian and Ukrainian negotiators were in Istanbul on Friday for what was billed as their first direct peace talks in more than three years, under pressure from U.S. President Donald Trump to end Europe’s deadliest conflict since World War Two.

    The encounter anticipated at the Dolmabahce Palace on the Bosphorus would be a sign of diplomatic progress between the warring sides, who had not met face-to-face since March 2022, the month following Russia’s invasion.

    Expectations for a major breakthrough, already low, were dented further on Thursday when Trump said there would be no movement without a meeting between himself and Russia’s President Vladimir Putin.

    Trump, winding up a Middle East tour and heading back to Washington, said on Friday he would meet the Russian leader “as soon as we can set it up”.

    In Istanbul, a Reuters reporter saw the first vehicles arriving at the talks venue, including white minibuses and several black cars. A Turkish Foreign Ministry source said a meeting had started between Turkish, U.S. and Ukrainian officials.

    Turkish sources had said the Ukrainian and Russian delegations would meet in the presence of Turkish officials, beginning at 0930 GMT.

    Putin on Sunday proposed direct talks with Ukraine in Turkey, but has spurned a challenge from Ukrainian President Volodymyr Zelenskiy to meet him in person, and instead has sent a team of mid-ranking officials to the talks.

    Zelenskiy said Putin’s decision not to attend but to send what he called a “decorative” lineup showed the Russian leader was not serious about ending the war. Russia accused Ukraine of trying “to put on a show” around the talks.

    U.S. Secretary of State Marco Rubio, who also flew to Istanbul on Friday, told reporters the night before that, based on the level of the negotiating teams, a major breakthrough was unlikely.

    “I hope I’m wrong. I hope I’m 100% wrong. I hope tomorrow the news says they’ve agreed to a ceasefire; they’ve agreed to enter serious negotiations. But I’m just giving you my assessment, honestly,” he said.

    Russia says it sees the talks as a continuation of the negotiations that took place in the early weeks of the war in 2022, also in Istanbul.

    But the terms under discussion then, when Ukraine was still reeling from Russia’s initial invasion, would be deeply disadvantageous to Kyiv. They included a demand by Moscow for large cuts to the size of Ukraine’s military.

    With Russian forces now in control of close to a fifth of Ukraine, Putin has held fast to his longstanding demands for Kyiv to cede territory, abandon its NATO membership ambitions and become a neutral country.

    Ukraine rejects these terms as tantamount to capitulation, and is seeking guarantees of its future security from world powers, especially the United States.

    (Reuters)

  • MIL-OSI Asia-Pac: Speech by SCED at APEC MRT Meeting discussion session on Prosperity through Sustainable Trade (English only)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the discussion session entitled “Prosperity through Sustainable Trade” at the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting in Jeju, Korea, today (May 16):

         Thank you, Chair, and good morning, colleagues.

         Supply chains are the driving engines for today’s global economy, yet they are also highly sensitive and vulnerable to external shocks, as we have witnessed during COVID-19 and in recent days.

         Hong Kong, China (HKC), as an international shipping and logistics hub, has been implementing various measures to support sustainable supply chains. Our Climate Action Plan 2050 steers four major decarbonisation strategies, namely, net-zero electricity generation, energy saving and green buildings, green transport and waste reduction. Increasing the zero-carbon energy supply through renewable energy development, popularising the use of electric commercial vehicles, enhancing the current cross-border electricity transmission infrastructure and developing a green maritime fuel bunkering centre are just a few examples of our efforts on this front. Furthermore, to assist the trade in seizing the business opportunities in green logistics, we have also commenced a study on the development of green and sustainable logistics.

         In December 2024, we launched the roadmap on sustainability disclosure in HKC, as a pathway for large publicly accountable entities to fully adopt, by 2028, the International Financial Reporting Standards – Sustainability Disclosure Standards (ISSB Standards), making HKC to be amongst the first jurisdictions to align its local requirements with the ISSB Standards.

         In parallel, enabling initiatives have been rolled out to equip micro, small and medium-sized enterprises (MSMEs) with the means to manage their environmental footprint and encourage market participants to improve sustainable business practices. Funding schemes and capacity building programmes have also been put in place to encourage the adoption of digital technologies by MSMEs to facilitate the digital transformation of supply chains.

         The issue of supply chains has always been an integral part of APEC discussions since 2009 when our predecessors endorsed the APEC Supply Chain Connectivity Framework Action Plan at the APEC Ministerial Meeting. HKC believes that APEC has a continued key role in facilitating our businesses in strengthening sustainable supply chains. APEC’s role becomes even more important now than ever, when cross-border trade and investments and supply chains face uncertainty and unprecedented challenges.

         To this end, HKC appreciates Korea’s efforts in organising an informative public-private forum on this important topic last week.

         Our collective goal of strengthening sustainable supply chains should never be a trade-off between sustainability and trade, but rather a synergy between the two. HKC is committed to working with all member economies to drive progress towards shared prosperity through sustainable trade.

         Thank you.

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: World’s First Fleet of 100 5G-A Autonomous Electric Mining Trucks Launched at Yimin Mine

    Source: Huawei

    Headline: World’s First Fleet of 100 5G-A Autonomous Electric Mining Trucks Launched at Yimin Mine

    [Hulunbuir, China, May 15, 2025] A fleet of 100 Huaneng Ruichi autonomous electric mining trucks, the first of its kind in the world, has officially entered operation at the Yimin open-pit mine in Inner Mongolia, China.
    Powered by a 5G-Advanced (5G-A) network, the mine became the world’s first open-pit mine to achieve large-scale vehicle-cloud-network synergy, which has greatly improved production safety and set a new benchmark for intelligent mining.
    As coal is China’s primary energy source and key to its energy strategy, the country has been driving the transition towards a high-end, intelligent, and green coal industry. To this end, China Huaneng Group Co., Ltd. (China Huaneng) has partnered with Xuzhou Construction Machinery Group Co., Ltd. (XCMG), Huawei Technologies Co., Ltd. (Huawei), and State Grid Smart Internet of Vehicles Co., Ltd. on a joint innovation project to develop the world’s first zero-carbon, autonomous, and intelligent open-pit mine transportation system, which pioneers high-quality industry development.
    Dignitaries at the launch event of the fleet of 100 Huaneng Ruichi autonomous electric mining trucks

    Li Shuxue, Chairman of Huaneng Inner Mongolia Eastern Energy Co., Ltd., stated at a launch event in Hulunbuir (Inner Mongolia) on May 15th that the company is actively working to drive an energy transition in mining transportation. As a key part of these efforts, it is replacing fuel vehicles with electric ones to build safe, intelligent, and green mines.
    Li Shuxue, Chairman of Huaneng Inner Mongolia Eastern Energy Co., Ltd., speaking at the launch event

    Supported by technological innovations, the Huaneng Ruichi autonomous electric mining trucks are industry-leading in several areas: Each truck can carry a load of 90 metric tons and operate continually in extreme cold of –40°C, while delivering 120% of the comprehensive operational efficiency of a manually-driven truck. In addition, Huawei Cloud provides the Commercial Vehicle Autonomous Driving Cloud Service (CVADCS) that uses a crowdsourced map for real-time operational location updates. This enables fast route optimization, reduces waiting times, and improves operational efficiency, maximizing the strengths of collaborative truck fleet operations.
    Furthermore, as the first autonomous mining truck in China without a driver’s cabin, Huaneng Ruichi places personnel safety above all else, keeping them away from equipment hazards and harsh environments to greatly reduce related risks. It is a paramount challenge to safeguard personnel and equipment safety while improving productivity in extreme working conditions such as freezing temperatures at high altitudes, and heavy rain, snow, and dust. Addressing such challenges places high requirements on data processing and system collaboration capabilities.
    Zhang Ping’an, Executive Director of Huawei and CEO of Huawei’s Cloud Computing Business Unit, noted that Huawei has provided AI algorithms for open-pit mining. These algorithms enable precise sensing for autonomous vehicles and efficient collaboration on the cloud, which is uniquely suited to accelerating the coal mining industry’s transition from manual to intelligent operations. This success case is an example of how digital and intelligent technologies can drive the high-quality development of the coal mining industry. It is not only a lighthouse project that demonstrates China’s innovative integration of 5G, cloud, AI, and new energy technologies, but an exploration into how AI can be used to tackle pressing challenges in specific industry scenarios.
    Zhang Ping’an, Executive Director of Huawei and CEO of Huawei’s Cloud Computing Business Unit, speaking at the launch event

    The 5G-A network is deployed in the Yimin mining area to provide precise network coverage for autonomous driving routes, achieving smooth vehicle-cloud synergy. It is the world’s first open-pit mine powered by 5G-A, featuring 500 Mbps uplink and 20 ms latency, and providing solid network support for HD video backhaul and cloud-based dispatching of autonomous mining trucks. In the future, 5G-A coverage will support 24/7 operations of more than 300 autonomous mining trucks in the mining area, further improving safety and efficiency.
    Onsite operations of the autonomous electric mining trucks at the Yimin open-pit mine

    Moving forward, Huawei will work alongside partners like China Huaneng, XCMG, and State Grid Smart Internet of Vehicles Co., Ltd. to transform and upgrade mine-transportation equipment, and build safe, efficient, green, and zero-carbon intelligent mines. Together, they will continue to draw on the successful experience of the Yimin mine to facilitate digital and intelligent transformation of the global energy industry.

    MIL OSI Economics –

  • MIL-OSI China: Humanoid robots poised to transform China’s factory floor

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

    Inside Zeekr’s humming, 5G-enabled electric car factory in the eastern Chinese city of Ningbo, a new type of worker began its apprenticeship.

    One robot meticulously sorted components from a shelf, its fingers deftly peeling and applying labels. Nearby, two others coordinated to lift a box from a cart, placing it precisely onto a rack. When one’s battery depleted, another autonomously approached to initiate charging.

    With a height of an average Chinese man, these UBTECH’s Walker S1 humanoid robots offer a glimpse into the future of China’s manufacturing sector — a new wave of automation promising to boost productivity while replenishing the shrinking pool of human workers.

    GO TO FACTORIES

    Over the past few months, Chinese startup teams have been making waves on the global stage with robots that can perform impressive stunts such as dance routines, backflips and Tai Chi.

    Beyond the spotlight, however, some leading robotics firms have been focused on deploying them in factories for more practical jobs. They are joining the global race, led by Tesla Optimus, to integrate humanoid robots into manufacturing.

    Shanghai Kepler Robot Co., Ltd. recently released a video of its K2 humanoid robot working at a logistics plant. The robot skillfully navigated the factory floor, handling boxes, transporting goods and operating machinery.

    K2 is specifically designed to handle factory work. It has dual arms that can carry 30 kilograms, boasting an impressive eight-hour work cycle on a one-hour charge, said Hu Debo, CEO of Kepler, adding that the base price for its mass-produced version is only 30,000 U.S. dollars.

    “If a robot can perform a job as a human does and its cost is around 300,000 to 400,000 yuan (approximately 41,000 to 55,200 U.S. dollars), then it would be cost-effective enough to be deployed,” said Xu Jun, head of the innovation technology department at Geely, Zeekr’s parent company.

    Humanoid robots initially found their application in China’s automotive manufacturing sector, driven by the industry’s high level of digitalization.

    “Automotive manufacturing is one of the most technologically advanced, intelligent, standardized, and data-driven fields in manufacturing, making it an ideal environment for humanoid robots,” said Xu.

    The robot density has hit 470 units per 10,000 workers in China’s manufacturing industry. Over the coming years, the sector is expected to send more intelligent robots to the shop floor.

    UBTECH founder Zhou Jian announced that the firm’s goal for this year is to manufacture approximately 1,000 humanoid robots, which are set to be deployed in real-world applications to collect more data.

    “Application in the manufacturing sector is our priority,” Zhou said.

    NOT ABOUT REPLACEMENT

    China’s push for humanoids stems from their potential to bridge the gap left by traditional industrial robots. While industrial robots excel in speed and load-bearing capacity with their pre-programmed, set-path motions, humanoids powered by AI-augmented learning boast greater adaptability.

    “Moreover, the large size of industrial robots prevent them from accessing confined spaces like vehicle cabins,” explained Xu, adding that humanoids are not intended as replacements of earlier iterations of industrial robots.

    Additionally, the “machine-for-human” transition in China’s coastal manufacturing plants has proven to be less alarming than initially feared.

    “What’s really happening in our industry isn’t that there are many people lining up to work in factories,” said Xu. “The real problem is a labor shortage, especially when production scales up. We simply can’t find enough workers.”

    “Widespread use of humanoid robots could replace humans in hazardous, repetitive, and dull jobs, potentially solving future labor shortages,” said Xiong Rong, director of a humanoid robotics innovation center in Zhejiang.

    K2 can achieve the same level of output as 1.2 to 2 people in simple and repetitive factory tasks. “Given the labor costs in the Yangtze River Delta, manufacturers can recoup their investment in this robot in just 1.5 to 1.8 years,” said Hu.

    However, humanoid robots still lag in efficiency for complex tasks.

    “Their overall efficiency is about 70 percent of skilled workers’ and they cannot perform complex tasks like precision screw-tightening done by senior technicians,” said Leng Xiaokun, founder of Leju Robot. The Shenzhen-based firm has trained its robots in several automotive plants to perform box-handling and parts-sorting tasks.

    A Shanghai startup has sent its robots to a “technical school”. In AgiBot’s 4,000-square-meter space, scenes like restaurants, bubble tea shops, and homes are set up.

    Over a hundred data collectors, wearing VR glasses and holding controllers, are teaching robots daily chores like folding clothes, clearing dishes, cleaning tables and cashiering in supermarkets. Each action is repeated hundreds of times by the robots.

    “Robots have to interact with tangible objects in a 3D world, as such data can’t be obtained from the Internet,” said Peng Zhihui, AgiBot’s co-founder.

    Meanwhile, the Beijing-based robotic firm Galbot is exploring an alternative training method: using synthetic simulation data to train robots. The startup has amassed tens of millions of scene data and billions of action data, according to its founder Wang He.

    WHY IN CHINA?

    China is positioning itself as a powerhouse not just in developing these robots but also in creating an ecosystem for their deployment.

    It came as the country has been driving manufacturing digitalization and intelligent transformation, aiming to leverage these technological upgrades to sustain economic growth.

    This year’s government work report proposed advancing the “AI Plus” initiative to integrate cutting-edge digital technologies with the nation’s strong manufacturing base and vast market advantages. It has also planned to develop future industries like embodied intelligence and other next-gen technologies.

    At an industrial park in the southern tech hub of Shenzhen, the tightly-knit robotics ecosystem enables seamless collaboration. PaXini Tech supplies tactile sensors to nearby UBTECH, while DexForce streams simulation data directly to AI2Robotics for real-time AI training.

    A recent Morgan Stanley report, “Humanoid Robot 100: Mapping the Humanoid Robot Value Chain,” has highlighted that Asian companies constitute 73 percent of the top 100 listed firms in this sector, with Chinese firms alone accounting for 56 percent.

    China’s startups are “benefiting from established supply chains, local adoption opportunities and strong degrees of national government support,” according to the report.

    Now, cities like Beijing, Shanghai and Shenzhen have established substantial industry funds. In the first quarter of this year, over 50 embodied intelligence firms secured over 6 billion yuan in funding, according to data of IT Juzi, an emerging technology data provider.

    A key feature of China’s electric vehicle industry is that it has integrated the consumer electronics supply chain, said Li Zexiang, founder of the XBot Park in southern city of Dongguan. “The embodied intelligence industry, exemplified by humanoid robots, is now following suit.”

    “China has the potential to replicate the disruptive impact from the EV industry in the humanoid space,” Reyk Knuhtsen, analyst at SemiAnalysis, told CNBC.

    “The influx of humanoid robots into factories will not only boost productivity but also create new industries, giving rise to new industrial chains and job opportunities,” said Xu. 

    MIL OSI China News –

  • MIL-OSI Russia: Chinese Investments Have Become ‘Indispensable Driver’ of Hungary’s Economic Growth – Orban

    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

    BUDAPEST, May 16 (Xinhua) — Chinese investment has become an “indispensable engine” of Hungary’s economic growth, Prime Minister Viktor Orban said Thursday.

    He made the remarks at a press conference here, where he also announced the decision of leading Chinese electric vehicle maker BYD to locate the headquarters of its European subsidiary and a new research and development centre in Budapest.

    “We are living in an era of transformation,” said Orbán. “New technologies, new consumer demands and new producers have emerged. And we, Hungarians, do not want to be left out of this new era. That is why we have made a strategic decision: Hungarian industry must enter the era of electric vehicles.”

    V. Orban noted that Hungary cannot enter the new technological era alone. “We need partners. And we can enter this new era only with Chinese-Hungarian strategic cooperation, because China is the leader in technology in this industry,” the Hungarian Prime Minister added.

    He also stressed the importance of the country’s “connectivity strategy.” “Hungary aims to become a meeting point for Eastern and Western capital, trade and innovation,” he said.

    Hungary’s trade has doubled in the last decade, and China has consistently ranked among the country’s top three investors. “In some years, China has even been Hungary’s number one investor,” Orban said. “This means that Chinese investment has become an important, even indispensable, engine of the country’s economic growth.”

    The Prime Minister also noted major infrastructure projects being implemented with China’s support, such as the Budapest-Belgrade railway. “China plays a decisive role in financing Hungary’s modernization,” Orbán emphasized. –0–

    MIL OSI Russia News –

  • MIL-OSI Australia: Joint training on Mt Dandenong

    Source:

    Recently, Kalorama-Mt Dandenong Fire Brigade invited neighbouring brigades of Sassafras-Ferny Creek, Olinda and Montrose to join them on a combined training session at Skyhigh, Mt Dandenong.

    The volunteers from these brigades joined up to assess the access and resources on site and plan for possible events.

    The training was coordinated by Alex Felich, 1st Lieutenant at Kalorama-Mt Dandenong brigade, with the goal of expanding the knowledge of the responding and assisting brigades.

    “Having a good working knowledge of the premises, the site and the resources can save critical time,” Alex said.

    The emergency response area for Kalorama-Mt.Dandenong brigade is unique in terms of bushfire risk and critical social and economic infrastructure.

    The brigade is responsible for the TV towers (communications to Melbourne), an electrical substation and water pumping stations. They also protect large businesses including Skyhigh Mt.Dandenong and Panorama Retreat, and a number of small businesses, cafes and B&Bs.

    “In order to protect these valuable assets we need to prepare not only our ourselves but also our supporting brigades,” Alex said.

    “Training is important but so is knowing what resources we have in terms of water, vehicles, firefighters, equipment and, importantly, the role we all need to accomplish.”

    Captain of Sassafras–Ferny Creek Fire Brigade Jeff Harbourd commented that Sky High is a location that his brigade would also be called to, to support Kalorama–Mt Dandenong, and when that occurs it would be under the worst possible conditions such as a bushfire or structure fire.

    “Training like this offers valuable familiarisation and allows for the identification and clarification of each and everyone’s roles and responsibilities, enables members to practise with trucks on site, sort out difficulties and provide workable solutions prior to a fire.”

    Captain of Olinda Fire Brigade, Deb Weber, strongly agreed.

    “Getting to know the people we work with from our neighbouring brigades in a more relaxed training scenario makes for a better cohesive working relationship and allows members to build the trust required to endure certain emergency situations, which can lead to better outcomes for all involved,” Deb said.

    The exercise was deemed successful in bringing the brigades together and giving them a view to how they each operate and can support each other in an emergency. Having the training on site also allowed for a hands-on approach to the unique location.

    Brigades can then tailor training for the technical aspects of fires that may occur at Sky High and its surrounds.

    “When an emergency occurs – no matter where across the state – ‘we work as one’ to protect our communities,” Jeff said.

    Submitted by Virginia Porter

    MIL OSI News –

  • MIL-OSI Security: Final Defendant in Sexual Assault of a 14-Year-Old Girl Sentenced to Prison

    Source: Office of United States Attorneys

    SALT LAKE CITY, Utah – Nasouh Albasis-Albasis, 27, of West Valley, Utah, was sentenced to 110 months’ imprisonment and a life term of supervised release after he and one of his co-defendants sexually assaulted a 14-year-old victim in the back of a vehicle, which was recorded and shared on social media in 2017.

    The sentence, imposed by Senior U.S. District Court Judge Tena Campbell, comes after Albasis-Albasis pleaded guilty on January 23, 2025, to charges involving child sexual abuse material. His co-defendants, Dodjim Leclaire, 32, of Murray, Utah, and his brother Richard Djasserambaye, 29, of Central Republic of Africa, living in Murray, Utah, at the time of the assault, were also sentenced. Leclaire was sentenced to 208 months’ imprisonment and Djasserambaye was sentenced to 181 months’ imprisonment. Both defendants were sentenced to a life term of supervised release.

    According to court documents and statements made at Albasis-Albasis’ change of plea and sentencing hearings, on September 9, 2017, Albasis-Albasis and his co-defendants Djasserambaye, and Leclaire used the 14-year-old victim to produce sexually explicit images. Specifically, Albasis-Albasis and Leclaire sexually assaulted the severely intoxicated and physically incapacitated minor while Djasserambaye video recorded the violent assaults. Djasserambaye then posted the video on social media. Albasis-Albasis further admitted he had video of the assaults of the victim on his cell phone.

    The case was investigated jointly by the FBI Salt Lake City Field Office, West Jordan City Police Department, Salt Lake City Police Department, Sandy City Police Department and Syracuse City Police Department.

    The U.S. Attorney’s Office for the District of Utah prosecuted the case.

    This case was brought as part of Project Safe Childhood, a nationwide initiative to combat the growing epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend and prosecute individuals who exploit children via the Internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit Justice.gov/PSC.
     

    MIL Security OSI –

  • MIL-OSI New Zealand: New Manawatū Commercial Vehicle Safety Centre focused on improving compliance and efficiencies

    Source: Argument for Lifting NZ Super Age

    Operations are now underway at the country’s newest commercial vehicle safety centre (CVSC), on State Highway 1/3 at Ohakea in Manawatū.

    This will streamline travel for heavy vehicle operators, deliver targeted enforcement by NZ Police, and efficient monitoring for heavy vehicle compliance.

    NZTA Commercial Vehicle Safety Programme Manager Sean Bridge is confident the new CVSC will improve travel efficiencies for compliant heavy vehicle operators and level the playing field for commercial transport operators in the region.

    “A CVSC screens heavy vehicles travelling past and provides data on operator and truck behaviour such as heavy vehicle weight, Certificate of Fitness status, and driver fatigue. This information is used to direct operators into the centre for inspection by NZ Police,” says Mr Bridge.

    “These centres will help to improve compliance at the same time as improving travel times for operators, because those not flagged during screening won’t need to pull into the centre. 

    “The data we collect will give us insight into the behaviour of heavy vehicles on the network. Using this data, we’ll be able to target our education and compliance work toward where safety issues are found.

    “This ensures everyone is paying their fair share for use of the road; keeps compliant operators moving through more smoothly and reduces the damage caused to the road by overloading, ultimately boosting safety and efficiency for all road users.”

    The Ohakea CVSC is one of 12 being built on important freight routes that will monitor the behaviour of heavy vehicles across the country.

    How the CVSC works: 

    The CVSC is connected to in-road scales, number plate recognition cameras and electronic signage on State Highway 1/3, leading to and from the centre.

    This technology collects data on passing vehicles 24/7 such as COF status, vehicle weight, load status, permit compliance, and if drivers are taking appropriate breaks.

    Where a heavy vehicle is required for inspection, its number plate will be displayed on the electronic signage, indicating it needs to pull into the centre for safe inspection by the NZ Police.

    The construction of a new roundabout on the state highway also means trucks can safely enter from both directions.   

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Police seek witnesses to fatal crash

    Source: New Zealand Police

    Motorists who were in the Pahiatua area yesterday afternoon may be able to help Police with the investigation into a fatal crash.

    About 3pm, a flatbed truck carrying containers and a grey Mini hatchback collided on State Highway 2, near the intersection with Avery Road. The driver of the car died at the scene.

    Senior Sergeant Carey Williamson said Police needed to hear from any road users who witnessed the crash, or the manner of driving or either vehicle.

    “The truck was carrying large white containers filled with oil, while the Mini in itself is distinctive. If you observed either vehicle before the collision, or the crash itself, please contact us as soon as possible.”

    Anyone with information is asked to contact Police by making a report online, or by calling 105.

    Please use the reference number 250515/8522.

    ENDS

    Issued by the Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI China: World’s largest car carrier built by China sets sail

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

    An aerial drone photo taken on May 15, 2025 shows the naming ceremony of the car carrier Anji Ansheng at Shanghai Haitong International Automotive Terminal in east China’s Shanghai. [Photo/Xinhua]

    SHANGHAI, May 15 — Anji Ansheng, China’s domestically built ocean-going car carrier and the world’s largest such carrier in terms of capacity, set sail on its maiden voyage to Europe on Thursday evening, carrying approximately 7,000 China-made vehicles.

    The departure from Shanghai marks a milestone achievement, surpassing a record set just weeks earlier by BYD Shenzhen, which is a domestically built car carrier from the major Chinese automaker BYD. That vessel had previously held the title of the world’s largest car carrier in operation.

    “The fact that this record has been broken again in less than a month reflects the rapid rise of China’s mid-to-high-end manufacturing sector, and the resilience and vitality of the country’s foreign trade despite complex global conditions,” said Gao Yuning, deputy director of the School of Public Policy and Management at Tsinghua University.

    Anji Ansheng measures 228 meters in length and 37.8 meters in width, with a maximum capacity of carrying 9,500 standard vehicles, said Zhuang Jingxiong, general manager of SAIC Anji Logistics Co., Ltd., a subsidiary of SAIC Motor Corporation Limited.

    The vessel integrates advanced energy-saving technologies and intelligent low-carbon systems, achieving world-class energy efficiency. It is also incorporated with a methanol-refueling design, laying the foundation for achieving carbon neutrality in the future.

    “China’s large-scale construction and delivery of vehicle carriers are propelling the country’s ocean-going auto transport capacity to new heights,” said Zheng Hehui, deputy general manager of China Merchants Industry Holdings, a subsidiary of the China Merchants Group.

    According to SAIC, the company had delivered over 5.5 million vehicles to international markets by the end of 2024, placing it among China’s top car exporters. SAIC’s annual overseas sales have surpassed 1 million units for three consecutive years.

    China’s automobile exports exceeded 6.4 million units in 2024, maintaining the top global position for a second consecutive year, according to the General Administration of Customs of China.

    Data from January to April 2025 shows that the country exported more than 1.93 million vehicles during the period, a year-on-year increase of 6 percent.

    Take the Shanghai Haitong International Automotive Terminal — from where Anji Ansheng set sail — as an example. Despite global trade uncertainties in the first four months this year, the port exported 740,000 vehicles during the period, a year-on-year increase of 25.1 percent.

    “This momentum reflects not only the rising competitiveness of Chinese brands but also the strong capabilities of China’s auto industry,” Cui Dongshu, secretary general of the China Passenger Car Association, said.

    China’s growing competitiveness was also evident at the recent 2025 Shanghai Auto Show, which attracted more than 12,000 overseas dealers.

    “China is doing a great job in terms of technology, and the cars are very reliable. People have confidence in Chinese cars. I think they see Chinese cars as offering a good balance between price and quality,” said Agustin Garcia, CEO of Spain’s Sarmovil Auto Group.

    SAIC’s Anji Logistics now operates one of the world’s leading vehicle shipping fleets. By 2026, its ocean-going fleet will grow to 22 vessels, with routes covering Western Europe, Mexico, Southeast Asia, the Middle East and other key export destinations for Chinese automakers.

    “For automakers, owning a fleet ensures stable export operations, reduces transportation costs, and guarantees timely delivery of products to overseas customers,” said Xie Xiaowen, an expert from the China Communications and Transportation Association.

    MG cars produced by Shanghai Automotive Industry Corp (SAIC) are parked next to the car carrier Anji Ansheng to be shipped in east China’s Shanghai on May 15, 2025. [Photo/Xinhua]
    An aerial drone photo taken on May 15, 2025 shows the car carrier Anji Ansheng at Shanghai Haitong International Automotive Terminal in east China’s Shanghai. [Photo/Xinhua]
    Cars are driven onto the car carrier Anji Ansheng at Shanghai Haitong International Automotive Terminal in east China’s Shanghai, May 15, 2025. [Photo/Xinhua]
    An aerial drone photo taken on May 15, 2025 shows the car carrier Anji Ansheng at Shanghai Haitong International Automotive Terminal in east China’s Shanghai. [Photo/Xinhua]
    This photo taken on May 15, 2025 shows the ceremony of the maiden voyage of the car carrier Anji Ansheng at Shanghai Haitong International Automotive Terminal in east China’s Shanghai. [Photo/Xinhua]
    A panoramic aerial drone photo taken on May 15, 2025 shows the car carrier Anji Ansheng at Shanghai Haitong International Automotive Terminal in east China’s Shanghai. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: China’s robotics boom fueled by fledged industrial chain

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

    In a smart factory of China’s home appliance giant Midea Group, more than 10 robots are busy screwing and welding. But here’s the twist: these robots are not simply assembling the company’s iconic air conditioners or fridges; instead, they are building other industrial robots.

    This “robots producing robots” production line in Foshan, Guangdong Province, operates fully automated and around the clock, rolling out one robot every 30 minutes on average.

    The factory sits amid a thriving robot industry ecosystem, where suppliers of core components are just a 10-minute drive away. Benefiting from the efficient supply chain, the Midea factory has delivered more than 80,000 industrial robots since it was set up in 2020.

    Midea started its foray into the robotics in 2015, with hopes of harnessing the technology to make its home appliances smarter while gaining a strategic foothold in the futuristic industry of smart robots.

    In March this year, the group unveiled a humanoid robot prototype capable of performing a variety of movements, including shaking hands, dancing, tightening screws, as well as understanding voice commands and doing operations as instructed.

    “We expect that the humanoid robot can be applied and commercialized in specific scenarios such as industry and manufacturing,” said Wei Chang, vice president and chief technology officer of Midea.

    COMPREHENSIVE CHAIN

    Midea epitomizes Guangdong’s robot boom. The manufacturing heartland in south China is home to more than 160,000 robotics enterprises, constituting the country’s largest industrial cluster for intelligent robots.

    According to the provincial government, Guangdong’s industrial robot output exceeded 240,000 units or sets in 2024, marking a year-on-year growth of 31.2 percent. One out of every three industrial robots in China is now made in Guangdong.

    With Shenzhen as its tech hub, Guangdong boasts advantages in mechatronics and digital intelligence technologies, said Lin Yi, deputy head of the industry and information technology bureau of Shenzhen.

    Excellent mechatronics enable rapid assembly of a robot’s body and limbs, while digital intelligence technologies empower a robot with a smart brain. The two strengths help foster a comprehensive industry chain in the province, extending from the production of chips and core components to downstream applications.

    A sophisticated and well-rounded industrial chain is credited with lowering costs for both development and manufacturing of new products. This infrastructure has supported the rapid emergence of many industries in China, ranging from drones to new energy, in recent years.

    Although humanoid robots first emerged abroad, the most likely place for their industrialization and commercialization is China, said Zhang Jin, president of SIASUN Robot & Automation Co., Ltd.

    “In China, there are companies focusing on making robots’ brain, while others specialize in arms, feet and other components. Altogether, they form a complete and vibrant industry eco-system,” Zhang said.

    TALENT, MONEY & POLICIES

    By the end of 2024, China had a total of 451,700 smart robotics firms, marking a staggering 206.7-percent increase from 2020, according to official data.

    Apart from industrial chain prowess, China’s vast pool of engineers has also added momentum to the industry. More than 300 colleges and universities nationwide now offer undergraduate programs in robotics engineering, which was approved as an undergraduate major by the Ministry of Education in 2016.

    Supportive policies also play a crucial role. In 2023, China issued a guidance on the innovative development of humanoid robots, declaring that they were expected to become revolutionary products following computers, smartphones and new energy vehicles.

    China’s government work report this year pledges to establish a mechanism to increase funding for industries of the future including embodied artificial intelligence, which refers to AI with physical bodies such as robots.

    Many local governments have also come up with ambitious plans. In February, Beijing, which boasts a congregation of leading universities and technological startups, issued a detailed action plan for embodied intelligence, setting a national benchmark for the industry.

    By 2027, the city is expected to employ robots in more than 100 scenarios covering areas from manufacturing to logistics, especially taking up jobs that are perilous, repetitive and laborious, it said. 

    MIL OSI China News –

  • MIL-OSI China: China-Vietnam ties develop steadily with closer cooperation, exchanges

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

    In Pingxiang, a border county in south China’s Chongzuo city, Guangxi Zhuang Autonomous Region, flat-bed and container trucks carrying fruits, building materials and industrial equipment are lining up to cross the China-Vietnam border.

    The county, home to around 130,000 people, has witnessed the rapidly growing trade and even closer practical cooperation between the two neighboring countries in recent years, which also gave a strong boost to local trade and economic development and brought more benefits to the people of both countries.

    After China and Vietnam normalized their relationship over 30 years ago, they forged a comprehensive strategic cooperative partnership in 2008, and the two countries have been maintaining communication at all levels, and working together to step up synergy in development strategies, facilitate practical cooperation, promote cultural and people-to-people exchanges and advance regional connectivity.

    With joint efforts, the two countries’ cooperation has been advancing steadily. China has remained Vietnam’s biggest trading partner and the second largest export destination, while Vietnam has continued to be China’s biggest trading partner in the Association of Southeast Asian Nations. Bilateral cooperation in such areas as investment, infrastructure and green energy has also flourished.

    Statistics of China’s customs showed that the two countries’ trade increased by 19.7 percent to 230.2 billion U.S. dollars in 2021, the first time in history surpassing the 200-billion mark. It is a hard-won achievement amid the impacts of the COVID-19 pandemic and the staggering global economy.

    The booming cross-border fruit trade has been one of the new highlights of bilateral trade in recent years. Thanks to fast transportation, cold chain logistics and the development of e-commerce, Vietnam’s fruit exports to China have increased rapidly year by year, and the China-Vietnam border city Chongzuo has become the largest city for import and export of border fruits trade in China.

    In the third quarter this year, the foreign trade volume of Chongzuo jumped to 78.12 billion yuan (10.6 billion dollars) with a surge of nearly 50 percent year-on-year.

    On Sept. 19, after years of small-scale trade around the border areas, fresh durians from Vietnam were officially exported to China for the first time, offering new opportunities to durian growers, packers and producers in the country.

    Eyeing the huge potential of China’s market with over 1.4 billion consumers, Rang Dong Agricultural Product Import-Export Company in Vietnam’s southern Long An province hopes to deliver more fresh and processed fruits to China, especially after the Regional Comprehensive Economic Partnership came into effect on Jan. 1.

    Nguyen Tat Quyen, the company’s director, said that besides the gigantic size, the Chinese market has another big advantage, namely being close to Vietnam, and convenient for road, sea and air transport.

    During the 14th meeting of the China-Vietnam Steering Committee for Bilateral Cooperation in July, the two sides agreed to bolster their Belt and Road cooperation, work together to build a mechanism for ensuring and promoting the stability of industrial and supply chains, strengthen port construction and facilitate customs clearance.

    As a flagship project of Belt and Road cooperation, the China-constructed Cat Linh-Ha Dong metro line project in Hanoi, the first of this type in the Southeast Asian country, has transported millions of Vietnamese since its commercial operation in November last year.

    The metro project has greatly facilitated the travel of residents along the route. Many residents have begun to abandon the traditional travel mode of motorcycles and choose to take the metro.

    “Taking these trains, I will no longer have to worry about congestion every morning while going to work,” said Hoang Thi Huong, a 30-year-old passenger from Hanoi’s Thanh Xuan district, hoping that more urban railway projects will be constructed to ease transportation in the city.

    The past years have also witnessed growing friendship and mutual understanding between the people of the two countries. An increasing number of Chinese films and TV series have gained popularity in Vietnam, while the flourishing bilateral ties have attracted more and more Vietnamese students to study and work in China.

    “As a Vietnamese student in China, I’m familiar with both countries, and I hope to help promote exchanges and make the two countries better understand each other,” said Nguyen Huyen Trang, a medical student at Guangxi University in China.

    Seeing the bright development prospect of China, Nguyen said he plans to find a job related to China-Vietnam medical cooperation and stay in Guangxi. “The experience of studying in China will give me more advantages in this regard,” he added.

    MIL OSI China News –

  • MIL-OSI Global: Disarming Hezbollah is key to Lebanon’s recovery − but the task is complicated by regional shifts, ceasefire violations

    Source: The Conversation – Global Perspectives – By Mireille Rebeiz, Chair of Middle East Studies and Associate Professor of Francophone and Women’s, Gender and Sexuality Studies, Dickinson College

    Slain Lebanese Hezbollah leader Hassan Nasrallah looms large in Lebanon. Anwar Amro/AFP via Getty Images

    Within a span of two weeks from late April to early May 2025, Israel launched two aerial attacks ostensibly targeting Hezbollah in Lebanon: The first, on April 27, struck a building in Beirut’s southern suburbs; the second, an assault in southern Lebanon, left one person dead and eight others injured.

    While the attacks may not be an aberration in the long history of Israel’s military action in Lebanon, the latest episodes were notable given the context: Israel and Hezbollah have been nominally locked in a truce for five months.

    As an expert on Lebanese history and culture, I believe the latest violations clearly show the fragility of that ceasefire. But more importantly, they complicate the Lebanese government’s mission of disarming Hezbollah, the paramilitary group that remains a powerful force in the country despite a series of Israeli targeted killings of its senior members. That task forms the backbone of a nearly 20-year-old United Nations resolution meant to bring lasting peace to Lebanon.

    The long road to a ceasefire

    In the aftermath of Hamas’ attack on Israel on Oct. 7, 2023, Hezbollah vowed solidarity with the Palestinian movement, resulting in a running series of tit-for-tat attacks with Israel that escalated into a full-blown war in the fall of 2024.

    On Oct. 1, 2024, Israel invaded Lebanon – the sixth time since 1978 – in order to directly confront Hezbollah. That operation led to the killing of an estimated 3,800 Lebanese people and the displacement of over 1 million civilians. The damage to Lebanon’s economy is estimated at US$14 billion, according to the World Bank.

    Hezbollah lost a lot of its fighters, arsenal and popular support as a result. More importantly, these losses discredited Hezbollah’s claim that it alone can guarantee Lebanon’s territorial integrity against Israel’s invasion.

    The United States and France brokered a ceasefire between Hezbollah and Israel on Nov. 27, 2024. The agreement was based in part on United Nations Security Council Resolution 1701, which was adopted in 2006 to end that year’s 34-day war between Israel and Hezbollah. The resolution had as a central tenet the disarmament of armed militias, including Hezbollah, and the withdrawal of Israeli forces from Lebanon.

    The 2024 ceasefire built on that resolution. It required Hezbollah’s retreat beyond the Litani River, which at its closest point is about 20 miles from northern Israel. In return, and by February 2025, Israel was to gradually withdraw from Lebanese territories in order to allow the Lebanese army to take control of areas in the south and to confiscate all unauthorized weapons – a nod to Hezbollah’s arsenal.

    Yet, Israel maintained the occupation of several posts in southern Lebanon after that deadline and continued to launch attacks on Lebanese soil, the most recent being on May 8, 2025.

    The challenge of disarming Hezbollah

    Despite these violations, large-scale war between Israel and Hezbollah has not resumed. But the next step, a lasting peace based on the laying down of Hezbollah arms, is complicated by a series of factors, not least the sectarian nature of Lebanese politics.

    Since its inception in 1920, Lebanon’s governance has been defined by a polarized and formally sectarian political system, which seeded the roots of a decades-long civil conflict that began in 1975. A series of invasions by Israel in response to attacks from Lebanese-based Palestinian groups exacerbated sectarianism and instability.

    From this mix, Hezbollah emerged and became a powerful force during the late 1980s.

    The Taif Agreement, ending Lebanon’s civil war in 1989, formally recognized the state’s right to resist the Israeli occupation of Lebanese territories – and with it Hezbollah’s presence as a force of resistance. An uneasy coexistence between the government and Hezbollah emerged, which often spilled over into violence, including assassinations of important public figures.

    More recently, Hezbollah was responsible for a two-year political vacuum as it mobilized members to repeatedly block opposition candidates for the vacant presidency in the hopes of installing a leader that would support its agenda.

    A view from the southern Lebanese district of Marjeyoun shows smoke billowing from the site of Israeli airstrikes on May 8, 2025.
    Rabih Daher/AFP via Getty Images

    In January 2025 that standoff ended when Lebanon’s parliament elected army chief Joseph Aoun, a Maronite Christian, as president.

    The acquiescence of Hezbollah and its allies was in part a sign of how much the power of the Shiite militia had been diminished by Israel during the conflict.

    But it is also the result of a widespread general understanding in Lebanon of the need to end the humanitarian crisis caused by Israel’s war. The new president has brought much-needed hope to a battered country – one that has been plagued by numerous crises, including a collapsed economy that by 2019 had pushed 80% of the population into poverty.

    But Aoun’s presidency signals the changing political environment in another key way; unlike his predecessors, Aoun has not endorsed Hezbollah as a legitimate resistance movement.

    Further, Aoun has announced his intentions to disarm the group
    and to fully implement resolution 1701.

    To this end, Aoun has made impressive gains. According to state officials, the Lebanese army had by the end of April 2025 dismantled over 90% of Hezbollah’s infrastructure south of the Litani River and taken control over these sites.

    Yet Hezbollah’s chief, Naim Kassem, doggedly rejects calls to disarm and integrate the group’s fighters into the Lebanese armed forces.

    Even in Hezbollah’s weakened position, Kassem believes only his movement, and not the Lebanese state, can guarantee Lebanon’s safety against Israel. And Israel violations of the ceasefire only play into this narrative.

    “We will not allow anyone to remove Hezbollah’s weapons,” Kassem said after one recent airstrike, vowing that the group would hand over weapons only when Israel withdrew from southern Lebanon and ended it’s air incursions.

    Can Lebanon’s new president, Joseph Aoun, untangle the Gordian knot of Lebanese politics?
    Ludovic Marin/AFP via Getty Images

    The challenge going forward

    Yet countries including the United States and Qatar – not to mention Israel – consider Hezbollah’s disarmament a prerequisite to both peace and much-needed international assistance.

    And this makes the task ahead for Aoun difficult. He will be well aware that international aid is desperately needed. But pressing too hard to accommodate either Israel’s or Hezbollah’s interests risks, respectively, exacerbating either domestic political pressures or jeopardizing future foreign investment.

    To complicate matters further, the situation in Lebanon is hardly helped by developments in neighboring Syria.

    The fall of Syrian President Bashar Assad in December 2024 has added another element of regional uncertainty and the fear in Lebanon of further sectarian violence. Although Syria’s new leader, Ahmed al-Sharaa, has vowed to protect all religious groups, he was not able to prevent the massacre of Alawite civilians in several coastal towns – an attack that triggered a fresh wave of refugees heading toward Lebanon.

    The removal of Assad was another blow for Hezbollah, a strong Assad ally that benefited from years of Syrian interference in Lebanon.

    The challenge of international relations

    For now, a return to full-scale war in Lebanon does not appear to be on the table.

    But what comes next for Lebanon and Hezbollah depends on many factors, not least the state of Israel’s ongoing war on Gaza and any spillover into Lebanon. But the actions of other regional actors, notably Saudi Arabia and Iran, matter too. Should Saudi Arabia be encouraged down the path of normalizing relations with Israel – a process interrupted by the Oct. 7 attack – then it would impact Lebanon in many ways.

    Any deal would, from the Saudi perspective, likely have to include a solution to the question of Palestinian statehood, taking away one of Hezbollah’s main grievances. It would also likely put pressure on Lebanon and Israel to find a solution to its long-standing border dispute.

    Meanwhile, Iran, too, is seemingly turning to diplomatic means to address some of its regional issues, with nascent moves to both improve ties with Saudi Arabia and forge forward with a new nuclear deal with the U.S. This could see Tehran turn away from a policy of trying to impose its influence throughout the region by arming groups aligned with Tehran – first among them, Hezbollah.

    Mireille Rebeiz is affiliated with the American Red Cross.

    – ref. Disarming Hezbollah is key to Lebanon’s recovery − but the task is complicated by regional shifts, ceasefire violations – https://theconversation.com/disarming-hezbollah-is-key-to-lebanons-recovery-but-the-task-is-complicated-by-regional-shifts-ceasefire-violations-255671

    MIL OSI – Global Reports –

  • MIL-OSI New Zealand: Wellington-based man arrested in international cryptocurrency scam investigation

    Source: New Zealand Police

    Attribute to Detective Inspector Christiaan Barnard:

    A Wellington-based man was arrested by the Financial Crime Group in Auckland this morning as part of an FBI investigation into an organised criminal group who stole cryptocurrency from seven victims valued at US$265M (NZD$450M).

    Between March and August 2024, the cryptocurrency is alleged to have been fraudulently obtained by manipulating the victims and subsequently laundered through multiple cryptocurrency platforms.

    Over the past three days, search warrants have been executed in Auckland, Wellington, and California with several people arrested, including one in New Zealand. A total of 13 people are facing charges.

    The Wellington man has been indicted by the US Department of Justice under US Federal law with charges of racketeering (RICO), conspiracy to commit wire fraud, and conspiracy to commit money laundering.

    It is alleged the defendants scammed seven victims, spending the stolen virtual currency to purchase, among other things, $9 million of exotic cars, hundreds of thousands of dollars on luxury handbags, watches and clothing, nightclub services and private security guards and rental homes in Los Angeles, the Hamptons and Miami.

    The man was bailed after appearing in the Auckland District Court today where he received interim name suppression.  He is due to reappear in the Auckland District Court on 3 July 2025.

    We have worked closely with our law enforcement colleagues in the United States in support of their investigation.  Today’s search warrant and arrest reflects the importance of international partnerships where criminals are operating across borders.

    There is an ongoing investigation, and no further comment will be made by Police.

    ENDS

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Night ends in custod-y for gang members

    Source: New Zealand Police

    Two gang members on a late night cruise through the streets of Glen Eden ended the evening in Police custody.

    Officers patrolling the area spotted a vehicle, which had been reported stolen from an Avondale address last month, travelling on Woodbank Drive at about 11.10pm.

    Waitematā West Area Response Manager, Senior Sergeant John Thornley, says the vehicle stopped voluntarily and officers blocked it in before arresting the two occupants.

    “A patched Killer Beez member and a Crips member were quickly taken into custody.

    “A search of the vehicle found a modified unloaded starter pistol and a bullet was also located in one of the men’s pockets.

    “We’re really pleased to have another dangerous weapon off the street, and this is a good example of proactive Police work that has resulted in a safer community.”

    A 42-year-old man appeared in Waitākere District Court today charged with unlawfully taking a motor vehicle and unlawful possession of a firearm and ammunition.

    The other man, aged 33, had a warrant to arrest for an unrelated matter.

    ENDS

    Holly McKay/NZ Police

    MIL OSI New Zealand News –

  • MIL-OSI China: Chinese investments ‘indispensable engine’ of Hungary’s economic growth: Orban

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

    Hungarian Prime Minister Viktor Orban (L) and BYD’s Chairman and CEO Wang Chuanfu attend a press conference in Budapest, Hungary, on May 15, 2025. [Photo/Xinhua]

    Chinese investments have become an “indispensable engine” of Hungary’s economic growth, Hungarian Prime Minister Viktor Orban said on Thursday.

    Orban made the remarks here at a press conference announcing Chinese leading electric vehicle manufacturer BYD’s decision to base its European business headquarters and a new research and development center in Budapest.

    “We are living in a time of transformation,” said Orban. “New technologies, new consumer demands, and new manufacturers have emerged. And we Hungarians do not want to be left out of this new era. That’s why we made a strategic decision: the Hungarian industry must join the age of electromobility.”

    Orban said that Hungary cannot enter this new technological era alone. “We need partners. And we can only enter this new era if there is Chinese-Hungarian strategic cooperation, because China leads in this industry’s technology.”

    Orban also underscored Hungary’s “connectivity strategy.” “Hungary aspires to be a meeting point for Eastern and Western capital, trade, and innovation,” he said.

    In the past decade, Hungary’s trade volumes have doubled, and China consistently ranks among the country’s top three investors. “In some years, China has even been the number one investor in Hungary,” Orban said. “This means Chinese investments have become an important, even indispensable engine of Hungarian economic growth.”

    The prime minister also highlighted major infrastructure projects supported by Chinese cooperation, such as the Budapest-Belgrade railway. “China plays a crucial role in financing Hungary’s modernization,” he said.

    Commenting on broader relations between the European Union (EU) and China, Orban said, “We believe we must return to economic cooperation based on mutual respect and look forward to the opening of new chapters in EU-China cooperation.”

    The BYD project will create 2,000 jobs, mostly for university-trained engineers. It also includes strategic partnerships with Hungarian universities and vocational institutions, aiming to link research and development efforts with local talent.

    BYD’s Chairman and CEO Wang Chuanfu highlighted Hungary’s advantageous location, deep-rooted automotive industry, and developed infrastructure as key factors behind the company’s decision. “Hungary lies at the heart of Europe, with a mature industrial base that has attracted many global automakers,” Wang said. 

    MIL OSI China News –

  • MIL-OSI New Zealand: Name release: Fatal crash, Levin

    Source: New Zealand Police

    Police can now release the name of the person who died in the two-vehicle crash on Oxford Street, Levin, on Monday 12 May.

    He was Joshua Eric Wilson, 33, of Levin.

    Police extend their sympathies to his family and friends at this difficult time.

    The circumstances of the crash remain under investigation.

    ENDS

    Issued by the Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI: Mount Logan Capital Inc. Announces First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Declared quarterly distribution of C$0.02 per common share in the second quarter of 2025, the twenty-third consecutive quarter of a shareholder distribution

    Asset management segment generated $8.1 million in Fee Related Earnings (“FRE”) for the trailing twelve months ended March 31, 2025, a 25% increase over the prior year period

    Generated $7.8 million of Spread Related Earnings (“SRE”) for the trailing twelve months ended March 31, 2025, which reflects 1.3% of spread earnings on Ability’s assets

    During January 2025, the Company announced it entered into a definitive agreement to combine with 180 Degree Capital Corp. (Nasdaq: TURN) in an all-stock transaction. The surviving entity is expected to operate as Mount Logan Capital Inc. (“New Mount Logan”) and to be listed on Nasdaq under the symbol MLCI

    In January 2025, Mount Logan completed its previously announced investment in Runway Growth Capital LLC, a $1.3 billion private credit asset manager, alongside BC Partners Credit

    All amounts are stated in United States dollars, unless otherwise indicated

    TORONTO, May 15, 2025 (GLOBE NEWSWIRE) — Mount Logan Capital Inc. (Cboe Canada: MLC) (“Mount Logan” or the “Company”) announced today its financial results for the three months ended March 31, 2025.

    First Quarter 2025 Highlights

    • FRE for the asset management segment was $2.2 million for the quarter, an increase of 37% compared to the first quarter of 2024, due to improved economics on the Company’s service agreement with Sierra Crest Investment Management over an interval fund, and the decrease in general, administrative and other expenses from the expiry of transition services agreements and other one-time expenses incurred in the first quarter of 2024. FRE for the trailing twelve months was $8.1 million, an increase of 25% from the comparative trailing twelve-month period, primarily attributable to increases in management fees.
    • Total revenue for the asset management segment of the Company was $3.2 million, a decrease of $0.8 million, or 21%, as compared to the first quarter of 2024. The decrease was driven by a reduction in and normalization of incentive fees associated with a single managed fund in winddown, and an increase in net loss from investment activities, both of which we view as transitory elements. First quarter asset management revenues also exclude $1.2 million of management fees associated with Mount Logan’s management of the assets of Ability Insurance Company (“Ability”), a wholly-owned subsidiary of the Company. Normalized Ability management fees for the first quarter of 2025 were $1.6 million, excluding one-time expenses, which are not expected to continue throughout the remainder of the year.
    • Total net investment income for the insurance segment was $19.0 million for the three months ended March 31, 2025, a decrease of $2.8 million, or 13%, as compared to the first quarter of 2024, owing to interest expense related to the interest rate swap, decrease in bond yields and decrease in the long term investments portfolio. Excluding the funds withheld assets under reinsurance contracts and Modco, the insurance segment’s net investment income was $14.5 million, an increase of $0.4 million, or 3%, as compared to the first quarter of 2024.
    • Achieved 6.9%1yield on the insurance investment portfolio for the quarter ended March 31, 2025. This was impacted by higher investment expense on funds withheld assets under the Modco arrangement. Excluding the funds withheld under reinsurance contracts and Modco, the yield was 8.8%.
    • Ability’s total assets managed by Mount Logan increased to $645.7 million as of March 31, 2025, an increase of $28.9 million from first quarter 2024 of $616.8 million. As of March 31, 2025, the insurance segment included $1.02 billion in total investment assets, down $23.0 million, or 2%, from the first quarter of 2024 investment assets of $1.04 billion. During the quarter, Mount Logan began managing a portion of Ability’s modified coinsurance assets with Vista.
    • Book value of the insurance segment as of March 31, 2025 was $85.9 million, an increase of $3.3 million as compared to $82.6 million for the first quarter of 2024.
    • SRE for the insurance segment was $7.8 million for the trailing twelve months ended March 31, 2025, down $1.7 million from the trailing twelve months ended March 31, 2024 of $9.5 million, primarily driven by an increase in cost of funds, partially offset by increased net investment income and lower operating expenses. The increase in cost of funds was primarily driven by unfavorable in-force update to the Long Term Care business (Guardian block) of $1.8 million for the trailing twelve months ended March 31, 2025, while there was a favorable in-force update to the LTC business (Medico block) observed of $4.8 million for the twelve months ended March 31, 2024.

    Subsequent Events

    • Declared a shareholder distribution in the amount of C$0.02 per common share for the quarter ended March 31, 2025, payable on June 2, 2025 to shareholders of record at the close of business on May 27, 2025. This cash dividend marks the twenty-third consecutive quarter of the Company issuing a C$0.02 distribution to its shareholders. This dividend is designated by the Company as an eligible dividend for the purpose of the Income Tax Act (Canada) and any similar provincial or territorial legislation. An enhanced dividend tax credit applies to eligible dividends paid to Canadian residents.
    • A preliminary joint proxy statement/prospectus was filed with the United States Securities and Exchange Commission (the “SEC”) for the previously announced merger of Mount Logan with 180 Degree Capital Corp. (Nasdaq: TURN) (“180 Degree Capital”), in an all-stock transaction (the “Business Combination”). The surviving entity is expected to be a Delaware corporation operating as New Mount Logan listed on Nasdaq under the symbol “MLCI”. As required under U.S. federal securities laws and related rules and regulations, the joint proxy statement/prospectus included Mount Logan’s audited financial statements for the years ended December 31, 2024 and 2023 prepared in accordance with U.S. Generally Accepted Accounting Principles. In connection with the Business Combination, shareholders of Mount Logan will receive proportionate ownership of New Mount Logan determined by reference to Mount Logan’s transaction equity value at signing, subject to certain pre-closing adjustments, relative to 180 Degree Capital’s Net Asset Value (“NAV”) at closing. Shareholders holding approximately 26% of the outstanding shares of Mount Logan and approximately 20% of the outstanding shares of 180 Degree Capital signed voting agreements supporting the Business Combination, and an additional 8% of Mount Logan and 7% of 180 Degree Capital shareholders, respectively, have provided written non-binding indications of support for the Business Combination.
    • Portman Ridge Finance Corporation (Nasdaq: PTMN) and Logan Ridge Finance Corporation (Nasdaq: LRFC) merger remains subject to the receipt of certain shareholder approvals and the satisfaction of other closing conditions. Mount Logan currently earns management fees from LRFC and has a minority stake in PTMN’s manager, Sierra Crest Investment Management.

    Management Commentary

    • Ted Goldthorpe, Chief Executive Officer and Chairman of Mount Logan stated, “We are pleased to report our first quarter 2025 results, reflecting the continued earnings power of our asset management and insurance platforms. While AUM growth slowed in Q1 2025, consistent with broader macro challenges, we demonstrated our ability to generate strong, positive Fee Related Earnings on the asset management segment, and Spread Related Earnings in the insurance platform, providing a solid foundation for momentum in 2025. Our managed funds demonstrated performance resilience and low volatility as compared to the public credit and equity markets, which we view as a testament to our focus on private credit assets. Looking ahead, we see ample opportunities to drive AUM growth across our core managed vehicles, enact operational improvements and efficiencies, while also advancing strategic priorities to scale the business through reinvestment across our segments and accretive acquisition opportunities, which includes our recently announced transactions with 180 Degree Capital and Runway, which we believe will be significant catalysts for long-term growth and investment into our business.”

    Selected Financial Highlights

    • Total Capital of the Company was $144.9 million as at March 31, 2025, a decrease of $5.4 million as compared to December 31, 2024. Total capital consists of debt obligations and total shareholders’ equity.
    • Consolidated net income (loss) before taxes was $(13.7) million for the first quarter of 2025, a decrease of $26.8 million from $13.1 million in the first quarter of 2024. The decrease was primarily attributable to the increase in net insurance finance expenses, decrease in net investment income and increase in general, administrative and other expenses under the insurance segment, as well as an increase in corporate transaction costs under the asset management segment related to the Business Combination when compared to the first quarter of 2024.
    • Basic Earnings (loss) per share (“EPS”) was ($0.48) for the first quarter of 2025, a decrease of $0.99 from $0.51 for the first quarter of 2024.
    • Adjusted basic EPS was ($0.29) for the first quarter of 2025, a decrease of $0.83 from $0.54 for the first quarter of 2024.

    Results of Operations by Segment

    ($ in Thousands) Three Months Ended  
      March 31, 2025     December 31, 2024     March 31, 2024  
    Reported Results                
    Asset management                
    Revenue $ 3,192     $ 4,442     $ 4,030  
    Expenses   12,578       13,440       7,615  
    Net income (loss) – asset management   (9,386 )     (8,998 )     (3,585 )
    Insurance                
    Revenue (1)   18,982       (622 )     17,555  
    Expenses   23,280       (16,142 )     822  
    Net income (loss) – insurance   (4,298 )     15,520       16,733  
    Income before income taxes   (13,684 )     6,522       13,148  
    Provision for income taxes   361       37       (56 )
    Net income (loss) $ (13,323 )   $ 6,559     $ 13,092  
    Basic EPS $ (0.48 )   $ 0.25     $ 0.51  
    Diluted EPS $ (0.48 )   $ 0.23     $ 0.50  
    Adjusting Items                
    Asset management                
    Transaction costs (2)   (4,545 )     (1,921 )     (251 )
    Acquisition integration costs (3)   —       —       (250 )
    Non-cash items (4)   (737 )     (2,940 )     (346 )
    Impact of adjusting items on expenses   (5,282 )     (4,861 )     (847 )
    Adjusted Results                
    Asset management                
    Revenue $ 3,192     $ 4,442     $ 4,030  
    Expenses   7,296       8,579       6,768  
    Net income (loss) – asset management   (4,104 )     (4,137 )     (2,738 )
    Income before income taxes   (8,402 )     11,383       13,995  
    Provision for income taxes   361       37       (56 )
    Net income (loss) $ (8,041 )   $ 11,420     $ 13,939  
    Basic EPS $ (0.29 )   $ 0.44     $ 0.54  
    Diluted EPS $ (0.29 )   $ 0.40     $ 0.54  

    (1)    Insurance Revenue line item is presented net of insurance service expenses and net expenses from reinsurance contracts held.
    (2)    Transaction costs are related to business acquisitions and strategic initiatives transacted by the Company.
    (3)    Acquisition integration costs are consulting and administration services fees related to integrating a business into the Company. Acquisition integration costs are recorded in general, administrative and other expenses.
    (4)    Non-cash items include amortization and impairment of acquisition-related intangible assets and impairment of goodwill, if any.


    Asset Management

    Total Revenue – Asset Management

    ($ in Thousands)

        Three Months Ended  
        March 31, 2025     March 31, 2024  
    Management and incentive fee   $ 2,928     $ 3,494  
    Equity investment earning     282       224  
    Interest income     268       271  
    Dividend income     38       112  
    Other Income     299       —  
    Net gains (losses) from investment activities     (623 )     (71 )
    Total revenue — asset management   $ 3,192     $ 4,030  

    Fee Related Earnings (“FRE”)

    FRE is a non-IFRS financial measure used to assess the asset management segment’s generation of profits from revenues that are measured and received on a recurring basis and are not dependent on future realization events. The Company calculates FRE, and reconciles FRE to net income from its asset management activities, as follows:

    ($ in Thousands)

      Three Months Ended  
      March 31, 2025     March 31, 2024  
    Net income (loss) and comprehensive income (loss) $ (13,323 )   $ 13,092  
               
    Adjustment to net income (loss) and comprehensive income (loss):          
    Total revenue – insurance (1)   (18,982 )     (17,555 )
    Total expenses – insurance   23,280       822  
    Net income – asset management (2)   (9,025 )     (3,641 )
    Adjustments to non-fee generating asset management business and other recurring revenue stream:          
    Management fee from Ability   1,566       1,429  
    Interest income   —       —  
    Dividend income   (39 )     (112 )
    Net gains (losses) from investment activities(3)   623       71  
    Administration and servicing fees   504       366  
    Transaction costs   4,545       251  
    Amortization and impairment of intangible assets   737       346  
    Interest and other credit facility expenses   1,857       1,702  
    General, administrative and other   1,479       1,233  
    Fee Related Earnings $ 2,247     $ 1,645  

    (1)    Includes add-back of management fees paid to ML Management.

    (2)    Represents net income for asset management, as presented in the interim Consolidated Statement of Comprehensive Income (Loss).

    (3)    Includes unrealized gains or losses on the debt warrants.

    ($ in Thousands) Trailing Twelve Months Ended  
      March 31, 2025     March 31, 2024  
    Net income (loss) and comprehensive income (loss) $ (20,826 )   $ 26,088  
               
    Adjustment to net income (loss) and comprehensive income (loss):          
    Total revenue – insurance (1)   (65,582 )     (76,512 )
    Total expenses – insurance   60,979       35,450  
    Net income – asset management (2)   (25,429 )     (14,974 )
    Adjustments to non-fee generating asset management business and other recurring revenue stream:          
    Management fee from Ability   6,162       4,853  
    Interest income   (1 )     —  
    Dividend income   (425 )     (640 )
    Net gains (losses) from investment activities(3)   1,995       157  
    Administration and servicing fees   1,743       1,228  
    Transaction costs   6,468       3,814  
    Amortization and impairment of intangible assets   4,369       1,178  
    Interest and other credit facility expenses   8,090       6,425  
    General, administrative and other   5,177       4,481  
    Fee Related Earnings $ 8,149     $ 6,522  

    (1)    Includes add-back of management fees paid to ML Management.

    (2)    Represents net income for asset management, as presented across the interim Consolidated Statements of Comprehensive Income (Loss).

    (3)    Includes unrealized gains or losses on the debt warrants.

    Insurance

    Total Revenue – Insurance

    ($ in Thousands)

        Three Months Ended  
        March 31, 2025     March 31, 2024  
    Insurance service result   $ (2,197 )   $ (3,092 )
    Net investment income     19,004       21,804  
    Net gains (losses) from investment activities     6,958       2,666  
    Realized and unrealized gains (losses) on embedded derivative — funds withheld     (4,783 )     (3,829 )
    Other income     —       6  
    Total revenue — net of insurance services expenses and net expenses from reinsurance   $ 18,982     $ 17,555  

    Spread Related Earnings (“SRE”)

    The Company uses SRE to assess the performance of the insurance segment, excluding the impact of certain market volatility and other one-time, non-core components of insurance segment income (loss). Excluded items under SRE are investment gains (losses), effects of discount rates and other financial variables on the value of insurance obligations (which is a component of “net insurance finance income/(expense)”), other income and certain general, administrative & other expenses. The Company believes this measure is useful to securityholders as it provides additional insight into the underlying economics of the insurance segment, as further discussed below.

    For the insurance segment, SRE equals the sum of (i) the net investment income on the insurance segment’s net invested assets (excluding investment income earned on funds held under reinsurance contracts) less (ii) cost of funds (as described below) and (iii) certain operating expenses.

    Cost of funds includes the impact of interest accretion on insurance and investment contract liabilities and amortization of losses recognized for new insurance contracts that are deemed onerous at initial recognition. It also includes experience adjustments which represents the difference between actual and expected cashflows and includes the impact of certain changes to non-financial assumptions.

    The Company reconciles SRE to net income (loss) before tax from its insurance segment activities, as follows:

      Three Months Ended  
      Q1-2025     Q4-2024     Q3-2024     Q2-2024     Q1-2024     Q4-2023     Q3-2023     Q2-2023  
    Net income (loss) and comprehensive income (loss) before tax $ (13,639 )   $ 6,522     $ (17,378 )   $ 3,847     $ 13,148     $ (1,946 )   $ 16,243     $ (903 )
                                                   
    Adjustment to net income (loss) and comprehensive income (loss):                                              
    Total revenue – asset management (1)   (3,192 )     (4,442 )     (3,826 )     (3,394 )     (4,030 )     (3,723 )     (3,186 )     (2,996 )
    Total expenses – asset management   12,533       13,440       7,481       6,651       7,615       7,839       6,868       6,133  
    Net income – insurance (2)   (4,298 )     15,520       (13,723 )     7,104       16,733       2,170       19,925       2,234  
    Adjustments to Insurance segment business:                                              
    Management fees to ML Management   (1,167 )     (1,167 )     (1,501 )     (1,529 )     (1,429 )     (1,345 )     (1,110 )     (969 )
    Net (gains) losses from investment activities(3)   (5,718 )     17,681       (13,267 )     887       (2,995 )     (10,116 )     (2,113 )     (1,454 )
    Other Income(4)   —       —       —       —       —       (7,353 )     —       —  
    Net insurance finance (income)/expense(5)   12,506       (28,702 )     30,940       (5,442 )     (11,769 )     14,399       (17,684 )     (5,275 )
    Loss on onerous contracts(6)   (1,548 )     (545 )     (822 )     945       6,884       286       2,451       4,214  
    General, administrative and other(7)   600       338       239       464       447       502       1,289       1,546  
    Spread Related Earnings $ 375     $ 3,125     $ 1,866     $ 2,429     $ 7,871     $ (1,457 )   $ 2,758     $ 296  

    (1)    Includes add-back of management fees paid by Ability to ML Management.

    (2)    Represents net income before tax for the insurance segment, as presented in the annual Consolidated Statement of Comprehensive Income (Loss).

    (3)    Excludes net (gains) losses from investment activities on assets retained by the Company under funds withheld arrangement with Front Street Re and Vista.

    (4)    Represents non-operating income.

    (5)    Includes the impact of changes in interest rates and other financials assumptions and excludes interest accretion on insurance contract liabilities and reinsurance contract assets.

    (6)    Represents the unamortized portion of future interest accretion and ceded commissions paid at the time of issue of new MYGA insurance contracts. Future interest accretion and ceded commissions are amortized over the average duration of MYGA contracts reinsured which aligns with the recognition of insurance service revenue. Loss on onerous contracts are part of Insurance service expense.

    (7)    Represents certain costs incurred by the insurance segment for purposes of IFRS reporting but not the day to day operations of the insurance company.

    The following table presents SRE, the performance measure of the insurance segment:

    ($ in Thousands)

      Trailing Twelve Months Ended  
      March 31, 2025     March 31, 2024  
    Fixed Income and other investment income, net(1) $ 54,342     $ 50,502  
    Cost of funds   (38,352 )     (32,318 )
    Net Investment spread   15,990       18,184  
    Other operating expenses   (8,195 )     (8,716 )
    Spread Related Earnings $ 7,795     $ 9,468  
    SRE % of Average Net Investments   1.3 %     1.7 %

    (1)    Excludes net investment income from investment activities on assets retained by the Company under funds withheld arrangement with Front Street Re and Vista Life and Casualty Reinsurance Company (“Vista”).

    Spread related earnings (“SRE”) was $7.8 million for the trailing twelve months ended March 31, 2025 compared with $9.5 million for the trailing twelve months ended March 31, 2024, a decrease of $1.7 million. SRE decreased year over year due to higher cost of funds, partially offset by increased investment income and lower other operating expenses. Cost of funds increased primarily due to unfavorable impact of $1.8 million as a result of in-force update to LTC business (Guardian block) whereas the trailing twelve months ended March 31, 2024 had a favorable in-force impact of $4.8 million to LTC business (Medico block). Investment income increased primarily due to an increase in total insurance investment assets as a result of new multi-year guaranteed annuity (“MYGA”) business and improvement in yield across the investment portfolio. Other operating expenses decreased as a result of efforts to reduce overall operating cost.

    SRE as a percentage of average net invested assets was 1.3% for the trailing twelve months ended March 31, 2025 compared with 1.7% for the trailing twelve months ended March 31, 2024.

    Liquidity and Capital Resources

    As of March 31, 2025, the asset management segment had $77.8 million (par value) of borrowings outstanding, of which $33.8 million had a fixed rate and $44.0 million had a floating rate. As of March 31, 2025, the insurance segment had $17.3 million (par value) of borrowings outstanding, of which $14.3 million had a fixed rate and $3.0 million had a floating rate. Liquid assets, including high-quality assets that are marketable, can be pledged as security for borrowings, and can be converted to cash in a time frame that meets liquidity and funding requirements. As of March 31, 2025 and December 31, 2024, the total liquid assets of the Company were as follows:

    ($ in Thousands)

    As at   March 31, 2025     December 31, 2024
    Cash and cash equivalents   $ 125,808     $ 85,988
    Restricted cash posted as collateral     12,526       15,716
    Investments     609,514       639,932
    Management fee receivable     2,927       3,268
    Receivable for investments sold     23       17,045
    Accrued interest and dividend receivable     20,959       20,489
    Total liquid assets   $ 771,757     $ 782,438

    The Company defines working capital as the sum of cash, restricted cash, investments that mature within one year of the reporting date, management fees receivable, receivables for investments sold, accrued interest and dividend receivables, and premium receivables, less the sum of debt obligations, payables for investments purchased, amounts due to affiliates, reinsurance liabilities, and other liabilities that are payable within one year of the reporting date.

    As at March 31, 2025, the Company had working capital of $218.8 million, reflecting current assets of $241.7 million, offset by current liabilities of $22.9 million, as compared with working capital of $231.2 million as at December 31, 2024, reflecting current assets of $245.3 million, offset by current liabilities of $14.1 million. The decrease in working capital was primarily attributable to the decrease in cash within the asset management business combined with the increase in accrued expenses across asset management and insurance.

    Interest Rate Risk

    The Company has obligations to policyholders and other debt obligations that expose it to interest rate risk. The Company also owns debt assets and interest rate swaps that are exposed to interest rate risk. The fair value of these obligations and assets may change if base rate changes in interest rates occur.

    The following table summarizes the potential impact on net assets of hypothetical base rate changes in interest rates assuming a parallel shift in the yield curve, with all other variables remaining constant.

    As at   March 31, 2025     December 31, 2024  
    50 basis point increase (1)   $ (8,836 )   $ 7,559  
    50 basis point decrease (1)     5,913       (18,939 )

    (1)    Losses are presented in brackets and gains are presented as positive numbers.

    Actual results may differ significantly from this sensitivity analysis. As such, the sensitivities should only be viewed as directional estimates of the underlying sensitivities for the respective factors based on the assumptions outlined above.

    Conference Call

    The Company will hold a conference call on Friday, May 16, 2025 at 11:00 a.m. Eastern Time to discuss the first quarter financial results. Shareholders, prospective shareholders, and analysts are welcome to listen to the call. To join the call, please use the dial-in information below. A recording of the conference call will be available on our Company’s website www.mountlogancapital.ca in the ‘Investor Relations’ section under “Events”.

    Canada Dial-in Toll Free: 1-833-950-0062
    US Dial-in Toll Free: 1-833-470-1428
    International Dial-ins
    Access Code: 813165

    About Mount Logan Capital Inc.

    Mount Logan Capital Inc. is an alternative asset management and insurance solutions company that is focused on public and private debt securities in the North American market and the reinsurance of annuity products, primarily through its wholly owned subsidiaries Mount Logan Management LLC (“ML Management”) and Ability Insurance Company (“Ability”), respectively. Mount Logan also actively sources, evaluates, underwrites, manages, monitors and primarily invests in loans, debt securities, and other credit-oriented instruments that present attractive risk-adjusted returns and present low risk of principal impairment through the credit cycle.

    ML Management was organized in 2020 as a Delaware limited liability company and is registered with the SEC as an investment adviser under the Investment Advisers Act of 1940, as amended. The primary business of ML Management is to provide investment management services to (i) privately offered investment funds exempt from registration under the Investment Company Act of 1940, as amended (the “1940 Act”) advised by ML Management, (ii) a non-diversified closed end management investment company that has elected to be regulated as a business development company, (iii) Ability, and (iv) non-diversified closed-end management investment companies registered under the 1940 Act that operate as interval funds. ML Management also acts as the collateral manager to collateralized loan obligations backed by debt obligations and similar assets.

    Ability is a Nebraska domiciled insurer and reinsurer of long-term care policies and annuity products acquired by Mount Logan in the fourth quarter of fiscal year 2021. Ability is also no longer insuring or re-insuring new long-term care risk.

    Non-IFRS Financial Measures

    This press release makes reference to certain non-IFRS financial measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS financial measures by providing further understanding of the Company’s results of operations from management’s perspective. The Company’s definitions of non-IFRS measures used in this press release may not be the same as the definitions for such measures used by other companies in their reporting. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. The Company believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of issuers. The Company’s management also uses non-IFRS financial measures in order to facilitate operating performance comparisons from period to period.

    Cautionary Statement Regarding Forward-Looking Statements

    This press release contains forward-looking statements and information within the meaning of applicable securities legislation. Forward-looking statements can be identified by the expressions “seeks”, “expects”, “believes”, “estimates”, “will”, “target” and similar expressions. The forward-looking statements are not historical facts but reflect the current expectations of the Company regarding future results or events and are based on information currently available to it. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this release include, but are not limited to, statements about the benefits of the closing of the acquisition of a minority interest in Runway as well as the proposed transaction involving the Company and 180 Degree Capital, including future financial and operating results, the Company’s and 180 Degree Capital’s plans, objectives, expectations and intentions, the expected timing and likelihood of completion of the proposed transaction, the regulatory environment in which the Company operates, and the results of, or outlook for, the Company’s operations or for the Canadian and U.S. economies, statements relating to the Company’s continued transition to an asset management and insurance platform business and the entering into of further strategic transactions to diversify the Company’s business and further grow recurring management fee and other income and increasing Ability’s assets; the Company’s plans to focus Ability’s business on the reinsurance of annuity products; the potential benefits of combining Mount Logan’s and Ovation’s platform including an increase in fee-related earnings as a result of the acquisition; the decrease in expenses in the asset management segment; the historical growth in the asset management segment and insurance segment being an indicator for future growth; the growth and scalability of the Company’s business the Company’s business strategy, model, approach and future activities; portfolio composition and size, asset management activities and related income, capital raising activities, future credit opportunities of the Company, portfolio realizations, the protection of stakeholder value; the expansion of the Company’s loan portfolio; synergies to be achieved by both the Company and Runway through the Company’s strategic minority investment in Runway; and the expansion of Mount Logan’s capabilities. All forward-looking statements in this press release are qualified by these cautionary statements. The Company believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, the Company can give no assurance that the actual results or developments will be realized by certain specified dates or at all. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including that the Company has a limited operating history with respect to an asset management oriented business model; Ability may not generate recurring asset management fees, increase its assets or strategically benefit the Company as expected; the expected synergies by combining the business of Mount Logan with the business of Ability may not be realized as expected; the risk that Ability may require a significant investment of capital and other resources in order to expand and grow the business; the Company does not have a record of operating an insurance solutions business and is subject to all the risks and uncertainties associated with a broadening of the Company’s business; ability to obtain the requisite Company and 180 Degree Capital shareholder approvals, as well as governmental and regulatory approvals required for the proposed transaction with 180 Degree Capital, the risk that an event, change or other circumstance could give rise to the termination of the proposed transaction with 180 Degree Capital, the risk that a condition to closing of the proposed transaction with 180 Degree Capital may not be satisfied, the risk of delays in completing the proposed transaction with 180 Degree Capital, the risk that the businesses of the Company and with 180 Degree Capital will not be integrated successfully, the risk that the expected synergies of the acquisition of Ovation may not be realized as expected and the matters discussed under “Risks Factors” in the most recently filed annual information form and management discussion and analysis for the Company. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by securities laws. These forward-looking statements are made as of the date of this press release.

    This press release is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication of this release is not, and under no circumstances is it to be construed as, an offer to sell or an offer to purchase any securities in the Company or in any fund or other investment vehicle. This press release is not intended for U.S. persons. The Company’s shares are not and will not be registered under the U.S. Securities Act of 1933, as amended, and the Company is not and will not be registered under the U.S. Investment Company Act of 1940 (the “1940 Act”). U.S. persons are not permitted to purchase the Company’s shares absent an applicable exemption from registration under each of these Acts. In addition, the number of investors in the United States, or which are U.S. persons or purchasing for the account or benefit of U.S. persons, will be limited to such number as is required to comply with an available exemption from the registration requirements of the 1940 Act.

    Contacts:
    Mount Logan Capital Inc.

    365 Bay Street, Suite 800
    Toronto, ON M5H 2V1
    info@mountlogancapital.ca

    Nikita Klassen
    Chief Financial Officer
    Nikita.Klassen@mountlogancapital.ca

    Scott Chan
    Investor Relations
    Scott.Chan@mountlogan.com

     
    MOUNT LOGAN CAPITAL INC.
    CONSOLIDATED STATEMENT OF FINANCIAL POSITION
    (in thousands of United States dollars, except share and per share amounts)
     
    As at   Notes   March 31, 2025     December 31, 2024  
    ASSETS                
    Asset Management:                
    Cash       $ 2,563     $ 8,933  
    Investments   6     25,605       21,668  
    Intangible assets   9     24,064       24,801  
    Other assets         8,622       8,187  
    Total assets — asset management         60,854       63,589  
    Insurance:                
    Cash and cash equivalents         123,245       77,055  
    Restricted cash posted as collateral   18     12,526       15,716  
    Investments   6     1,019,969       1,045,436  
    Reinsurance contract assets   13     408,492       392,092  
    Intangible assets   9     2,444       2,444  
    Goodwill   9     55,015       55,015  
    Other assets         21,298       38,183  
    Total assets — insurance         1,642,989       1,625,941  
    Total assets       $ 1,703,843     $ 1,689,530  
    LIABILITIES                
    Asset Management                
    Due to affiliates   10   $ 8,994     $ 10,470  
    Debt obligations   12     78,401       78,427  
    Derivatives – debt warrants   12     737       504  
    Accrued expenses and other liabilities         9,770       5,097  
    Total liabilities — asset management         97,902       94,498  
    Insurance                
    Debt obligations   12     17,250       14,250  
    Insurance contract liabilities   13     1,069,625       1,048,413  
    Investment contract liabilities   14     222,074       227,041  
    Derivatives   18     1,864       5,192  
    Funds held under reinsurance contracts         238,371       239,918  
    Accrued expenses and other liabilities         7,856       2,995  
    Total liabilities — insurance         1,557,040       1,537,809  
    Total liabilities         1,654,942       1,632,307  
    EQUITY                
    Common shares   11     121,372       116,118  
    Warrants   11     1,129       1,129  
    Contributed surplus         8,063       7,917  
    Surplus (Deficit)         (59,805 )     (46,083 )
    Cumulative translation adjustment         (21,858 )     (21,858 )
    Total equity         48,901       57,223  
    Total liabilities and equity       $ 1,703,843     $ 1,689,530  
     
    MOUNT LOGAN CAPITAL INC.
    CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
    (in thousands of United States dollars, except share and per share amounts)
     
          Three months ended  
        Notes March 31, 2025     March 31, 2024  
                   
    REVENUE              
    Asset management              
    Management and incentive fee   7 $ 2,928     $ 3,494  
    Equity investment earning       282       224  
    Interest income       268       271  
    Dividend income       38       112  
    other Income       299        
    Net gains (losses) from investment activities   4   (623 )     (71 )
    Total revenue — asset management       3,192       4,030  
    Insurance              
    Insurance revenue   8   23,389       22,741  
    Insurance service expenses   8   (25,534 )     (25,184 )
    Net expenses from reinsurance contracts held   8   (52 )     (649 )
    Insurance service result       (2,197 )     (3,092 )
    Net investment income   5   19,004       21,804  
    Net gains (losses) from investment activities   4   6,958       2,666  
    Realized and unrealized gains (losses) on embedded derivative — funds withheld       (4,783 )     (3,829 )
    Other income       —       6  
    Total revenue, net of insurance service expenses and net expenses from reinsurance contracts held — insurance       18,982       17,555  
    Total revenue       22,174       21,585  
    EXPENSES              
    Asset management              
    Administration and servicing fees   10   1,237       1,423  
    Transaction costs       4,545       251  
    Amortization and impairment of intangible assets   9   737       346  
    Interest and other credit facility expenses   12   1,857       1,702  
    General, administrative and other       4,202       3,893  
    Total expenses — asset management       12,578       7,615  
    Insurance              
    Net insurance finance (income) expenses   5   17,808       (7,252 )
    Increase (decrease) in investment contract liabilities   14   1,957       2,279  
    (Increase) decrease in reinsurance contract assets       966       3,556  
    General, administrative and other       2,549       2,239  
    Total expenses — insurance       23,280       822  
    Total expenses       35,813       8,437  
    Income (loss) before taxes       (13,684 )     13,148  
    Income tax (expense) benefit — asset management   15   361       (56 )
    Net income (loss) and comprehensive income (loss)     $ (13,323 )   $ 13,092  
    Earnings per share              
    Basic     $ (0.48 )   $ 0.51  
    Diluted     $ (0.48 )   $ 0.50  
    Dividends per common share — USD     $ 0.01     $ 0.02  
    Dividends per common share — CAD     $ 0.02     $ 0.02  
                       

    1The yield is calculated based on the net investment income less management fees paid to Mount Logan divided by the average of investments in financial assets for the current year and prior year.

    The MIL Network –

  • MIL-OSI USA: Murkowski to EPA: “Let me help you”

    US Senate News:

    Source: United States Senator for Alaska Lisa Murkowski
    05.15.25
    Washington, D.C. – U.S. Senator Lisa Murkowski, Chair of the Senate Appropriations Subcommittee on Interior, Environment, and Related Agencies, hosted the Administrator of the Environmental Protection Agency (EPA) in subcommittee to discuss the agency’s budget request. The Senator and Administrator Lee Zeldin discussed how the subcommittee can best serve the agency’s mission of providing clean air, water, and land for all Americans, while the Administrator committed to fostering a better working relationship with the subcommittee and Senator Murkowski’s office.
    Chair Murkowski discussed a number of issues important to Alaska that she is looking forward to collaborating with the EPA on, including cleaning up PFAS contaminated lands, ensuring clarity for Alaskans on frozen or paused EPA grants, addressing the backlog of Congressionally Directed Spending (CDS) projects, and investing in cleaning up lands conveyed to Alaska Natives that were contaminated by the federal government.
    Click here to watch the Senator’s full remarks and questions.
    The full transcript of Senator Murkowski’s opening remarks, questions and exchanges with Administrator Zeldin, and the Senator’s closing remarks can be read below.
    TRANSCRIPT
    Opening remarks
    Murkowski: Good morning, the Committee will come to order. I’d like to welcome Administrator Zeldin to the committee here this morning. I think it is important that as we begin our budget hearings, we begin the oversight through the Interior Appropriations Subcommittee with the EPA, an area of interest, I think, for all of us, as we think about how we ensure that Americans from Alaska to Oregon, to New York to all the places in between, have the benefits of clean air, clean water for all of us.
    So, thank you, Administrator, for being here to discuss the Fiscal Year 2026 budget request. We recognize that what we have seen is “skinny,” as we refer to it around here. Each year, the subcommittee holds a hearing to examine the EPA budget requests. Some years, the budget is the focus of the hearing, and others, it’s agency actions that draw the majority of the questions. I think it’s probably safe to assume that this year it’s going to be a mixture of both of these. And again, we’ve just seen the “skinny” outline of Fiscal Year 2026, we have yet to see the full details of the President’s budget request, but I have to say at the outset: looking at some of these proposed cuts, I’m looking at them and questioning whether they are serious cuts. I find many of them problematic. I’m just going to be open and honest with my words here this morning and we will have good dialogue, constructive dialogue, in this committee.
    So again, while we’re waiting for additional details, I want to spend my time this morning talking about the vision for the EPA and Administrator, how you plan to use your position to continue to better provide clean air, water and land for Americans from Alaska to Florida, from California to Maine, and how a budget like the one that you propose could support that mission.
    Under the Biden administration, I had some very serious concerns about the regulatory overreach of the agency. I expressed them often. I also shared the concerns that I felt were overzealous enforcement actions coming out of the agency that went contrary to the needs of Alaskans. We were able to figure out how to find common ground in certain areas to make progress, and some things that were certainly good for Alaska. I mentioned to you contaminated lands, residential wood stove testing and certification. We still have a long, long ways to go on PM, 2.5, I think we know that. PM 2.5 and 301 (h) waivers… We’ve got work to do. I think we know that.
    So now we’re in a in a new administration, new administrator and perhaps a different direction here. I do appreciate many of the actions and the initiatives that we have had a chance to discuss. (I) certainly support the willingness to work with the Army Corps of Engineers to review the WOTUS rule, your reconsideration of Clean Power Plan 2.0, the vehicle emissions rules, and then, of course, a renewed focus on permitting, something I would think that all of us can come together on.
    But my concern this morning, and what you will hear from me, and I think many others, is the approach that’s been taken with regards to freezing funds, canceling grants, and then the reorganization of the agency. I’m looking at it through the not only through the lens of Alaskans, but really all Americans who, regardless of how you feel about the EPA, we benefit from its data driven decision-making, the remediation efforts and the mission to protect human health and environment. And I respect, I give a lot of leeway for an incoming administration’s prerogative to implement changes in support of the policies and priorities, but it also has to be done with clear articulation of the of the goals against which such changes will be measured.
    And so, it’s problematic when as a committee we’re asking questions, we don’t receive basic data that would be helpful, would be good guidance for us. And so, when we see implementation of significant changes without working or seriously communicating with us, your partners in Congress, it just makes it harder for us to do the job of supporting your mission. We are on the same side here, and so we want to work with you in so many of these areas.
    I think we all can agree that there are inefficiencies and redundancies to be found throughout the federal government, some of EPA programs we know are overly burdensome. And again, I applaud the administration for seeking to find ways to help ordinary Americans cut through red tape and make programs easier to access. But the seemingly indiscriminate freezing of EPA funding, regardless of source, has caused some significant anxiety from the folks that I’m talking to in Alaska. One example is the Community Change Grants in my state, we’ve received $150 million from this program. It’s communities like the little village of Kipnuk, it’s the Native village of Kotzebue. Took a lot of work to get to the place where they were able to secure the funding, and they’ve had their grants canceled by the agency without any explanation, and so this is where some of the anxiety comes, is just not knowing why.
    It’s not just in Alaska. I think members on both sides of the dais can, and probably will, talk about the benefits of the grants to their states and their communities. You’ve also proposed massive reorganizations of EPA to include the elimination of the Office of Atmospheric Programs and the Office of Research and Development. It is true that agencies funded by our bill will have the flexibility to reprogram and reorganize, and we provide that flexibility because we know – we get it. There can be urgent and exigent circumstances that warrant such actions. However, agencies must comply with the requirements and provide the committees with the requisite information, whether it’s budgetary and staffing implications, but also the rationale for the actions to include why these actions are so urgent. And so far, EPA has not adhered to our reprogramming guidelines and has been largely unresponsive to the questions. So, I would certainly expect timely and transparent responses and information. I would expect EPA to abide by the parameters that are outlined in our reprogramming guidelines. And I think, as a former member of Congress, you get it. You’ve been on the frustration end of things as well. So again, ways that we can be working together.
    Now, turning our attention to the FY 26 budget proposal. In Alaska, we’ve seen on the ground examples of really good things being done with some of the programs that your budget has substantially reduced or proposed to eliminate. Example: the proposed reduction of the State Revolving Fund, reducing it from $2.8 billion down to $305 million. This is an 88% reduction. This was one of the ones when I mention unserious proposal. This is the one that I’m looking at, because it clearly is one of the most essential programs that the agency administers. And you mentioned as part of your justification for cutting this program that the account has been heavily earmarked, and this is true. The 66 members of the Senate, including 17 Republicans, making it our most bipartisan account, who requested congressionally directed spending for the SRF accounts did so in connection with the states to ensure the funding was going to critical clean water and drinking water projects. Now I would also note that in FY 25, Congress voted for, and the President signed into law, a full year CR that keeps the SRF fully funded, rather than reducing it by the amount of the CDS is.
    So, I’m going to close my comments here with, I don’t know if it’s a note of sympathy or just an acknowledgement, because I get it. You are, I think, 106 days since you were confirmed and sworn in as EPA Administrator. And for an agency as key and as vital as yours, that’s really a short time to get everything up and running, from enacting the administration’s priorities to establishing a clear working relationship with us here in Congress. We know that you’re still getting your team in place, because we’re trying to move them through our process here, and it is slow, and you need those folks. You need the members of your team. So, I’m giving you the benefit of the doubt here. There’s plenty of time for us to figure out what’s working what’s not, establish open lines of communication between our teams that will mutually benefit your mission and all those that we work for. So, I’m eager to start on that. I thank you for your testimony today, your willingness to answer our questions and just the opportunity to be working with you. And with that, I turn to ranking member Merkley for his comments.
    First line of questions from Murkowski
    Murkowski: I will begin with my first five minutes, and again, appreciate the opportunity that you and I have had to discuss some of the particular issues. I’d like to ensure that we continue that very direct engagement, not only between us, but also with our staffs. We’ve had a conversation about transparency, partnership and responsiveness, and again, I think you come to this position really from a good place, because you’ve sat in in our seats here, so to speak. When you’ve asked questions of an agency and you get frustrated because you’re not able to get what you’re seeking.
    So, there is a lot going on within the agency, as you have outlined, and as I suppose the ranking member and I have outlined. But we need to be more informed, rather than getting updates by way of tweets or stories for them from the media. The agency has issued reorganization notifications, but we’re not getting the full picture or the answers to some of the questions that we have asked. So, my direct question to you this morning is just a renewed commitment that the promise of transparency, partnership and responsiveness is there, that we’re going to be able to have meetings between your senior teams and our folks on the Appropriations side, so that we can help you. Let me help you type of an approach, and that’s what I’m seeking from you this morning, Mr. Administrator.
    Zeldin: Absolutely, Madam Chair, and you uniquely amongst 535 members of Congress have a “Batphone” into my office, which I would encourage you to use at any time. We’ve spoken since my confirmation, and when we meet, you often have a very long list of priorities for Alaska, that you’re fighting for, that you’re passionate about. And to make sure that we’re working through that list at every opportunity is something that will be a priority for our team as long as I am here as administrator, and I would encourage you to reach out whenever you would like, and I’d be available to work through whatever is at the top of your list that day.
    Murkowski: Very good. Very good. Let me ask about the Clean Water State Revolving Fund and the Drinking Water State Revolving Fund. I mentioned in my opening, these are probably the areas where on this committee we have more bipartisan support for a program, and we’re looking at a budget that effectively eliminates the one thing that we’re all in agreement on. So, I’d ask you to share with me and the others on the committee why the agency would move away from such a critical on-the-ground program when we’re talking about access to clean water?
    Zeldin: Madam Chair, as you pointed out in your opening remarks, and as you referenced from the skinny budget that was released that we’re here to talk about today, there has been a bleeding out of funds deliberately through decisions made by Congress to earmark. I understand that when I came into this position, I inherited a lot of earmarks that many of you have fought for, and I want to be able to continue to work with each of you and your staffs. In some cases, we need to get the recipients to submit paperwork where they’re on the receiving end of big earmarks, so that we can work through this backlog as quickly as we can. It would be helpful to have a conversation about the SRF and the use of earmarks, and how that has been reducing the funding through the years.
    As you all know, there’s a difference when these skinny budgets come out, whether or not something is funded at $0, or it’s funded at $1. Now that might not seem like much to the American public in understanding how these conversations go in Congress. The SRF is not zeroed out in the skinny budget – In fact, it has hundreds of millions of dollars there in it. So, as we go forward with this process, I look forward to more conversations about the SRF, and I’m sure members of the House and the Senate will be having conversations amongst yourselves as to what you believe to be the appropriate funding level for SRF, as well as the future of the program, and whether or not earmarks will continue to be used to reduce that balance. That’s obviously a decision that Congress has a very important role to play.
    Murkowski: Well we do, and we can have a separate discussion about earmarks. I think we both know that earmarks don’t contribute to the top line number you are discussing here. A concern that I have raised with you, that there has been, over the years, Congressionally Directed Spending, earmarks, that have been moved through the process, authorized and appropriated to, and still not spent down. So, my time has expired. Now know that on this next round, I’m going to ask for a little more discussion about that. But I do think that given the significance of the Clean Water State Revolving Fund and the Drinking Water State Revolving Fund by so many of us… let’s have a broader discussion about how we move forward with what I would think most of us recognize has got to be a priority within the EPA.
    Second line of questions from Murkowski
    Murkowski: Administrator, I had asked you, we had had a discussion about the Congressionally Directed Spending projects. You have indicated that, indeed, we’ve got a backlog here that we need to address. My understanding is that since fiscal year 2022, Congress had directed 2,264 CDs projects at the EPA – only 705 have received the funding. So, I think both of us would agree, you know, we’ve got an issue here. There’s a problem. The FY 25 CR, of course, did not include the CDS projects. So, I’m looking at that and saying, all right, the agency has the balance of the fiscal year to work on catching up from this backlog of the CDSs. Can you just give me a little bit of your understanding in terms of how you’ve directed your team to expeditiously get these projects out the door in a more timely manner?
    Zeldin: I appreciate the question, Madam Chair. The backlog goes back years. I’ve directed my team to both work with the members of Congress who represent those areas, the members of Congress who requested those earmarks to get assistance in the case where the recipient has not been responsive, and simultaneously, to try to engage as much as possible directly with the recipient, to try to get the recipient to submit their paperwork. We want to completely get through the entire backlog that we inherited as quickly as possible.
    Murkowski: Can we help you with that?
    Zeldin: Yes.
    Murkowski: I’m working with my constituents right now as we’re moving forward in this year’s appropriations and getting requests for CDSs. So, can you perhaps either let me know who it is on your team that we need to be communicating directly to if there are snags on your end, or perhaps, again, you’re just not able to get in touch with the applicant?
    Zeldin: 100%. As you well know, the EPA is broken down into all sorts of different program offices.
    Murkowski: Right.
    Zeldin: And the it might not be just one person for all grants. It might depend on whether the backlog might… we might be talking about a backlog inside of the Office of Water, where they need assistance from the members of Congress, or maybe it’s another office. Maybe it’s the Office of Air and Radiation. We would look forward to an opportunity to work with you and your team, and all members of Congress, on both sides of the aisle as much as possible, to eliminate the backlog that we inherited.
    Murkowski: Good, good. Let’s do that. I think that’s a good plan.
    Many members here have asked about different grants and programs, the pauses, the freezes. It’s been particularly frustrating in Alaska, when we hear there’s been a hold up in terms of the grant award. We’ve got just a limited construction season. It’s just hard. Even if not choked by ice, you might have a barge that comes up with your materials for a project, maybe once, maybe twice a season, and so it can push a project back, not just months, but by another season – another year, perhaps multiple years. It’s been hard to provide some clarity to our communities on which grants are going to be awarded, which are just going through the review process that you shared with us, which grants have been terminated.
    So, I’d ask if your folks could provide a list of what’s actually been paused for review versus what has been terminated. I think we’ve heard, for instance, on the EJ (Environmental Justice) grants, that one has been perhaps more clear, but there are a lot in between. And I think it would help our communities if there was more certainty as to what has actually been terminated versus what is still in the pipeline for review. So, I’d ask for your help on that.
    Zeldin: Absolutely, Madam Chair, and we will continue to be distributing funding appropriated by Congress as we go through the rest of the fiscal year that will include funds for your great, great state, and we look forward to working with you on the process. As you know, when the President first came in, there was an administration-wide pause that was lifted. The pause that was then instituted for EPA was more specific to some of the Inflation Reduction Act programs. There was a Clean School Bus program concern that was that was raised early in the administration, when Lion Electric (Company) and their bankruptcy issue caused some questions to be asked to make sure that the concerns with Lion Electric (Company) were it was just specific to Lion Electric (Company). And as it relates to the grants that were that were canceled, that’s something that if you have any questions about what was included in that we’re happy to answer any individual questions.
    Murkowski: Good, okay, we’ll work with you on that list.
    Third line of questions from Murkowski
    Murkowski: The operating plan for FY25 we received. It’s very much in line with the previous year’s funding level for each line item. There’s a lot of changes that that have been discussed, but it sounds like you are committing to spending the funds as delineated in the agency’s spend plans. And I guess my ask to you is, if that’s not going to be the case, that the subcommittee receive a reprogramming request so that we basically follow the process if, in fact, we’re not doing the agency is not doing this spend out as we have anticipated, as these small communities understand them.
    I just have two very quick follow ups. One is very easy for you, because we’ve discussed it at length, but it is a significant issue in my state when it comes to contaminated lands. The history that I have shared with you of Alaska Natives receiving their settlement of lands, being conveyed by the federal government. And basically, they were conveyed tainted lands, lands that were contaminated by various actions of federal agencies, whether it’s the land managers, or the Department of Defense. And so, we have made some good progress with EPA. And believe me, this is not EPA’s is fault or liability for the contamination. It’s the federal governments. But what we have learned is that the EPA is uniquely qualified to help us solve this issue. Over the past couple years, there’s been roughly $20 million in funding that has been directed to contaminated lands, and the agencies have been doing some really good work. I just need your commitment that we’re going to continue with this. $20 million, unfortunately, doesn’t even get the first project cleanup. We know that that these are expensive, but it is an obligation. It is a liability of our government, and we owe it, whether it’s to Alaska Natives as conveyance of their settlement, or to others. And I know that when we’re talking (EPA) Superfunds, Brownfields, contaminated lands, we just have so much work to do here. So, know that you got cooperation on my level here.
    Zeldin: Yes, Madam Chairwoman, I look forward to visiting over the course of the next couple of weeks in Alaska. Might be able to have the opportunity to hear about, see about, see this firsthand, and I will, with regards to all appropriations, make sure that we are fulfilling our obligations under the law. So, if Congress appropriates the funds, we’ll make sure that it’s spent.
    Murkowski: Very good.
    PFAS is something that we talk a lot about in Interior Appropriations Subcommittee. Last month, you announced that EPA will “tackle PFAS from all of EPA’s program officers, advancing research and testing, stopping PFAS from getting into drinking water systems, holding polluters accountable, and providing certainty for passive receivers. You said this was just the beginning of the work that EPA is going to do to tackle PFAS, which I certainly appreciate, and I know most everyone up here does.
    Can you tell me whether the operating plan and the skinny budget requests, whether they actually reflect this kind of full forward push on PFAS, and whether it includes the $10 billion that the Bipartisan Infrastructure Law funding provided to take on PFAS contamination. I’m looking at this skinny budget, and I’m saying, good for you, let’s go on PFAS. But I’m worried about making sure that we’re actually budgeting to do so, and I’m also worried about whether or not with the RIFs that we have seen to date, as well as what is anticipated about perhaps an additional fork in the road, whether we’re going to be able to do the job. So again, this is something where you’re going to have good support from people in this committee for the initiative. But do you have the budget, and do you have the people?
    Zeldin: Senator, we’re actually adding people into this effort inside of the Office of Water. As you noted, this spans multiple program offices at EPA. A lot of the PFAS work is done inside of the Office of Water. The reorganization announcement that we made a couple weeks ago includes boosting that effort inside of the Office of Water. The press release from April 28 that you referenced included a lot of different actions that we plan on taking, and everything that the agency has announced is already factored into the skinny budget that is before the committee today.
    Murkowski: And so, let me just ask more directly, whether or not you’re concerned that the RIFs or the deferred resignation is going to impact your ability to execute, whether it’s on the PFAS side or contaminated lands, or any number of issues that you’ve heard here from members.
    Zeldin: No, Madam Chair. This is a very important priority of ours at EPA. When I was in Congress, I was a member of the PFAS Task Force. I had voted for the PFAS action act, when I was a member of the House. I represented the district that had all sorts of different PFAS contamination issues. This is something that, in many respects, started during President Trump’s first term in office, and has continued to progress since. And we’re going to make sure that we’re hitting the ground running. That’s included in the April 28 announcement, but as we noted in that announcement, that’s just some of the many decisions and important work that’s before us. It is a very high priority.
    Murkowski: So, you’ve spoken to the adequacy to meet the PFAS mission. Are you concerned about your numbers EPA wide to do your overall mission, not just specific to PFAS, but with everything else that you’re looking at? Because the reduction in staffing, is very significant, you’ve got to admit that. And so, you’ve got a big task, and we want you to be able to execute on that. So, just want to hear from you whether you have any concerns about your staffing levels right now.
    Zeldin: Madam Chair, we are going to fulfill all statutory obligations. One of the things that was a surprise to me coming into the position was just how many people who are employees at the agency were not working on any statutory obligation at all. And I also want to say that there are a lot of amazing, dedicated employees at EPA. The American public might feel disconnected from agency employees who might be working in Washington, D.C., but there are a lot of people who have been there for a long time. They believe in the agency mission. They work hard every single day. One of the reforms we brought in coming in is ending COVID year remote work. And it’s great to hear noise in the building, to see the foot traffic, and to see people being productive and collaborative. But if anyone out there was tuning in and they don’t know what the agency looks like, it’s filled with a lot of amazing, dedicated workers who believe in the agency’s mission, and we’re going to work hard to make the public proud.
    Murkowski: Well, I’m glad that you’ve acknowledged your workforce, because I think you do have people who are good public servants. They’re proud of the work they do, and they’re the work that they do has value. And we want to recognize that.
    Closing Remarks
    Murkowski: We will have further discussion about so many of these issues: the reorganization, what we’re seeing with the grants. But I appreciate, Administrator Zeldin, you appearing before the committee, responding to our questions. We will hold the record open until May 21 for additional questions from members and would look forward to your responses to those as well.
    And with that, the committee stands adjourned – we’ve got to vote!

    MIL OSI USA News –

  • MIL-OSI USA: McClellan Joins SEEC Energy and Commerce Members to Slam Republicans’ Attack on American Health and Affordability

    Source: United States House of Representatives – Congresswoman Jennifer McClellan (Virginia 4th District)

    This week, Congresswoman Jennifer McClellan (VA) joined House Sustainable Energy and Environment Coalition (SEEC) members on the House Energy and Commerce Committee, slamming House Republicans’ obscene budget reconciliation plan to gut life-saving pollution reduction programs, raise Americans’ electricity bills, cut off critical support for high-tech American manufacturing, and legalize corruption for oil and gas companies. These members included SEEC Co-Chairs Reps. Doris Matsui (CA) and Paul Tonko (NY) and were joined by their fellow SEEC colleagues Reps. Nanette Barragán (CA), Kathy Castor (FL), Yvette Clarke (NY), Debbie Dingell (MI), Kevin Mullin (CA), Alexandria Ocasio-Cortez (NY), Scott Peters (CA), Kim Schrier (WA), and Darren Soto (FL). 

    “I know the Trump Administration and some of my colleagues on the other side of the aisle don’t like the word environmental justice, but what environmental justice is designed to do is recognize that there are communities in this country — white, black, low-income, urban and rural — where energy projects were put in place with no input from the community, where the people didn’t have the resources to fight back or even knew what was happening,” said Congresswoman McClellan. “These are the same communities that have some of the poorest health outcomes in the country. We should want to help address centuries of injustice and invest in those communities, but this bill guts those programs altogether – that’s not justice.”

    “Republicans’ reconciliation bill is a shameless sell-out to corporations at the expense of hard-working Americans’ health and prosperity,” said Congresswoman Matsui. “This bill eliminates and defunds pollution protections and pollution reduction programs that my constituents rely on, illegally and insidiously clawing back funding that is already supporting projects in communities across this country. In my district, La Familia Counseling Center was poised to do transformative work with their Community Change Grant—but Republicans are gutting that progress to pay for tax breaks for their billionaire friends. As if that weren’t enough, Republicans’ bill contains a shocking and outrageous attempt to legalize corruption for oil and gas companies, allowing polluting corporations to simply buy all the permits they need to build a pipeline through American communities, no questions asked. This kind of bribery is how dictatorships operate. This is not how America works. We cannot allow this egregious corruption to become law.”

    “My Republican colleagues claim they are going after the clean energy programs that are, in their words ‘reckless’ and favor ‘wokeness over sensible policy,’” said Congressman Tonko. “Which programs are those? Is it the $12 million in unobligated funds to reduce air pollution in schools? How about DOE money to train contractors to retrofit people’s homes? What about money to upgrade our ports with the latest and greatest technologies? These are just a few examples of commonsense investments that are being targeted today that are creating American jobs and deploying new technologies that will indeed reduce pollution. And when you start to list them out, you can see how ridiculous this proposal is. But why on Earth would Republicans be doing this? Well, we know these funds will be used to partially offset yet another round of tax cuts, the benefits of which will overwhelmingly go to the wealthiest.”

    “Republican cuts to environmental justice grants will directly harm the health of our communities,” said Congresswoman Barragán. “Medicaid helps many access and afford health care in vulnerable communities with clean air and water challenges. Yet, Republicans have proposed the largest Medicaid cut in history. It’s all connected and Republicans want to go backward on the environment and health care access.”

     “You should hold on to your wallets, because House Republicans are coming after your electric bills to pay for a massive tax giveaway to billionaires like Elon Musk,” said Congresswoman Castor. “Because let’s face it, American families are being financially squeezed right now – especially my neighbors in Florida still struggling to rebuild from Hurricanes Helene and Milton. Utility companies in at least 19 states have hiked rates as much as $40 per month since the Trump administration began. Republicans have not brought forth a single bill to lower energy costs for hardworking American families. Instead, what they’re offering today is a handout to big oil companies and polluters and the impact will be to raise your electric bill.” 

    “There’s nothing and no one House Republicans won’t betray just to fund obscene tax breaks for their wealthy donors,” said Congresswoman Clarke. “By taking an axe to the critical programs Americans rely on to protect them from the climate crisis, reduce pollution, and keep energy affordable, our colleagues across the aisle have once again proven they are incapable of putting the needs of their communities above the demands of their billionaire puppet masters.”

    “What this bill does is create total chaos for the auto industry in repealing EPA’s emission standards for light and medium-duty vehicles and NHTSA’s corporate average fuel economy standards. What the domestic auto industry needs now more than anything is certainty. My priority is to protect American jobs, maintain our competitive edge in automotive manufacturing, ensure the United States leads in technology and innovation, and that we cede our leadership to nobody,” said Congresswoman Dingell. “Our policies must reflect the priorities on the ground, prioritize consumer choice and offer a practical, ambitious path forward. To remain competitive, the US must align with the global shift towards hybrids, electric vehicles, and down the road, who else knows what other technology. Here’s a fact. The global marketplace wants electric vehicles and I will be damned if I let China beat us in that market.”

    “Republicans are ramming through a disastrous, ugly budget bill that is going to cause widespread harm to Americans and our environment. Why? So they can give massive tax cuts to billionaires, corporations, and oil companies. Republicans want to strip health care away from over 13.7 million Americans who rely on Medicaid, which will raise prices for the privately insured too,” said Congressman Mullin. “The bill also cuts funding for clean energy innovation while allowing oil and gas companies to buy their way out of having to follow environmental laws. This will stagnate American progress in developing affordable, sustainable solutions to meet our energy needs. This isn’t efficiency, it’s cruelty and Republicans are making it clear that they don’t care about raising costs for working families.”

    “In my time here in Congress, I have participated in investigations of large corporations that have poisoned communities across the country. A lot of times, these communities were poisoned due to large corporations that were exploiting corrupt loopholes in the law in order to poison the most vulnerable communities in America,” said Congresswoman Ocasio-Cortez. “And I deeply fear that there is a loophole and similar provision in this bill. This bill allows gas companies to pay $1 million in order for their project to bypass the traditional permitting process. In fact, this bill allows natural gas pipeline projects to pay a fee of $10 million to cut the line and bypass the normal permitting process. Allowing massive corporations to simply cut a check to bypass the very real reasons why permitting exists in the first place, poses a deep and grave danger to people across the country.”

    “Last Congress, my Republican colleagues were insistent that we should have an all-of-the-above energy strategy, one that leveraged our natural resources, unleashed American innovation, and cut through bureaucratic red tape,” said Congressman Peters. “Which is why I am confused that we are considering a reconciliation bill that picks winners and losers, and elevates expensive, outdated, and inefficient sources like coal over cheap American-made energy like solar, wind, and storage. Why does this bill provide government-backed insurance to coal plants, as the President of the United States single-handedly kills hundreds, if not thousands, of clean energy jobs across the country by illegally targeting projects and weaponizing the permitting process?” 

    “This bill completely bypasses communities and landowners, and these ‘pay-to-play’ provisions put not just a thumb but an entire arm, maybe a body on the scale favoring oil and gas,” said Congresswoman Schrier. “It’s giant corporations like Shell, BP, Chevron. They’re the ones that have the wherewithal to pay to bypass all permitting requirements. This bill is more of the ‘drill baby drill’ agenda that we hear every week from our Republican colleagues. I’m all for streamlining permitting to address energy demand and infrastructure that has real impacts on our communities. But there’s ways to streamline permitting and get new energy resources online without sidelining solar, wind, nuclear, hydropower, or hydrogen projects. Streamlining permitting is key if we’re going to meet energy demand. Clean power should have the same opportunity as oil and gas and we shouldn’t be disregarding important environmental protections.”

    “This is a bad deal for the South, whether it’s consumers in Florida or whether it’s all these high-paying jobs going to all these Southern states. This is a job killer,” said Congressman Soto. “In addition, adding in defunding of interstate transmission lines. I’ve heard from both sides of the aisle how often this is critical. So why in the world would you defund the interstate transmission lines? That makes no sense. That will raise energy prices. It will prevent efficiencies in the market. And it will prevent different states from specializing in new types of energy, whether it’s modular nuclear or renewable energy that’s being formulated here in Florida.”

    Background

    House Republicans are gutting critical pollution protections and pollution reduction programs, raising American household energy costs, pulling the rug out from under America’s manufacturing sector, and creating a brazen new “pay-to-play” bribery scheme for polluting corporations. Here’s what the bill does:   

    • Repeals and rescinds funding from Environmental Protection Agency programs that protect Americans from pollution and help American households save money on energy costs and medical bills. Some of these programs include:
      • Greenhouse Gas Reduction Fund that is dedicated to lowering energy bills and cutting pollution.
      • Environmental and Climate Justice Block Grants that support disadvantaged communities to reduce pollution and pollution-related health impacts in their communities.
      • Methane Emissions and Waste Reduction Incentive Program to reduce pollution and waste from the oil and gas sector, improving the health and economic well-being of overburdened communities, while also saving energy.
      • Clean Heavy Duty Vehicle Program that helps communities replace old polluting diesel engines and vehicles—some of the dirtiest vehicles on the road—with new, clean vehicles.
      • Clean Ports Program that helps improve air quality around U.S. ports and address the public health and environmental impacts to surrounding communities.
    • Repeals life-saving Clean Air Act standards for vehicle pollution and fuel efficiency that help Americans save money at the pump and improve health outcomes in our communities.
    • Eliminates funding for the Department of Energy Loan Programs and the Advanced Industrial Facilities Deployment Program that help commercialize next-generation American-made technology, bringing manufacturing back to America and creating good-paying jobs, while also developing cutting-edge technologies that save Americans money and reduce pollution in American communities.
    • Creates a pay-to-play bribery scheme for polluters that allows oil and gas companies to pay a fee and bypass standard permitting, environmental reviews, and judicial review processes. Whether it’s a natural gas pipeline or a natural gas export terminal, companies can simply buy all the permits they need to build their pipeline through your community. This is blatant and unconscionable corruption. 

    Republicans had multiple opportunities to improve the bill and ensure that Americans’ pocketbooks, health, and livelihoods are protected, but Republicans repeatedly rejected Democratic amendments, including Democratic-led efforts to: 

    • Ensure that this bill does not raise energy costs for American households. Representative Castor’s amendment would have required the U.S. Energy Information Administration to publish the impacts of the Energy Subtitle of the bill on monthly energy costs for American households.
    • Protect the health and safety of our families and communities. Representative Dingell’s amendment would have prevented the repeal of the Greenhouse Gas Reduction Fund.
    • Hold polluters accountable and prevent the legalization of corruption under this bill. Representative Ocasio-Cortez’s amendment would have required the Inspector General of the Department of Energy to certify that this bill will not increase risks of corruption or ‘pay-to-play’ politics.
    • Protect American energy independence and deliver cheap energy to Americans. Representative Auchincloss’ amendment would have prevented the energy provisions from going into effect until the Secretary of Energy certifies that tariffs on energy imports are no greater than they were on January 19, 2025.  

    ###

    MIL OSI USA News –

  • MIL-OSI Russia: Marat Khusnullin opened the XVI International Economic Forum “Russia – Islamic World: KazanForum”

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Marat Khusnullin opened the XVI International Economic Forum “Russia – Islamic World: KazanForum”

    May 15, 2025

    Marat Khusnullin opened the XVI International Economic Forum “Russia – Islamic World: KazanForum”

    May 15, 2025

    Marat Khusnullin opened the XVI International Economic Forum “Russia – Islamic World: KazanForum”

    May 15, 2025

    Previous news Next news

    Marat Khusnullin opened the XVI International Economic Forum “Russia – Islamic World: KazanForum”

    Deputy Prime Minister Marat Khusnullin gave the official start to the International Economic Forum “Russia – Islamic World: KazanForum”. The Deputy Prime Minister got acquainted with the expositions of Russia Halal Expo, as well as the international real estate exhibition and took part in the plenary session, where the prospects for the development of the construction industry were discussed.

    “The International Economic Forum “Russia – Islamic World: KazanForum” is aimed at strengthening cooperation with partners in building a fair and sustainable world order. The forum also confirms its status as a significant platform for demonstrating the capabilities of Russian companies and regions on the world stage. At the opened Russia Halal Expo, I visited the stands of the Astrakhan, Kirov, Vologda, Penza regions, the DPR, the Karachay-Cherkess Republic and the Republic of Mordovia, where I also held working meetings with the heads of these regions. We discussed priority areas of socio-economic development of the subjects and current issues of implementing the new national project “Infrastructure for Life”. I also visited the stands of Moscow, Nizhny Novgorod and Arkhangelsk regions. Each region showed its unique investment, industrial and tourism potential. A variety of local products are presented – from textiles and food products to building materials and other goods,” said Marat Khusnullin.

    The Deputy Prime Minister also inspected an outdoor exhibition of construction and special equipment, where modern models were presented – from KamAZ trucks and tractors to boats and helicopters.

    In addition, Marat Khusnullin got acquainted with the exposition of the International Property Market, an international real estate exhibition, which provided experts with a platform to discuss key industry issues, including breakthrough technologies, investment projects and modern approaches to creating a comfortable urban environment. The participants of the event demonstrated both already implemented projects and innovative solutions presented for the first time.

    The forum also included a plenary session dedicated to the development of the construction complex, during which Marat Khusnullin noted that over the past five years, significant results have been achieved in housing construction in Russia – about 570 million square meters of housing have been commissioned.

    One of the key topics of discussion was the implementation of the national project “Infrastructure for Life”, aimed at creating a comfortable living environment with developed social, transport and communal infrastructure. The national project provides for a comprehensive approach to the development of territories, including the development of 200 master plans for cities and strategic points, the modernization of support points in order to improve the quality of life of the population by 30% by 2030.

    Particular attention was paid to the issues of digitalization of the industry. According to the Deputy Prime Minister, the transition to paperless document flow allows for shorter approval periods and faster housing commissioning.

    Marat Khusnullin emphasized that an important driver of housing construction growth is the development of transport infrastructure. The implementation of large-scale projects of the international transport corridors “North-South” and “West-East” will not only improve logistics between regions, but also stimulate the construction sector.

    Special attention was paid to investment opportunities in new regions. Special preferential conditions are provided for accelerated development of the Donetsk and Lugansk People’s Republics, Zaporizhia and Kherson regions: mortgage lending at 2% per annum for the purchase of housing, tax preferences for participants in the free economic zone, as well as the provision of land plots without bidding within the framework of the SEZ.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Canada: Tackling impaired boating on Alberta’s waterways

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

  • MIL-OSI Canada: Let’s All Get #SafelyHomeFromTheWorkzone

    Source: Government of Canada regional news

    Released on May 15, 2025

    The Victoria Day long weekend marks the beginning of construction season. The Government of Saskatchewan and its various road partners remind all drivers to play their part in helping everyone get safely home from the work zone.

    “Road and utility workers, first responders, tow truck operators and many other are all working for you on and near our highways, streets and roads,” Highways Minister David Marit said. “We ask all motorists to slow down, follow the signs and respect flag persons no matter where their summer travels take them. We want everyone to get home safely.”

    The Ministry of Highways will invest more than $777 million toward improving Saskatchewan roads this year, with its crews and contractors in work zones doing repairs and capital projects to improve our quality of life and support our export-based economy.

    The ministry’s counterparts in urban, rural and other communities will also be doing road work, while provincial Crown utilities and various contractors will be at or near streets and highways to maintain and improve infrastructure. Tow truck operators, police and other first responders will be visible as usual this summer.

    Whether the work zone is in a city or on a highway, it’s important to slow down to keep everyone safe. Following the signage and respecting workers can help drivers avoid collisions and an expensive ticket. On average, 184 collisions happen each year in work zones, resulting in 36 injuries and one death (based on a five-year average from 2019 to 2023). 

    To help promote this message, drivers are encouraged to share this safety video https://youtu.be/R8p_D-QNmUI?si=gIEWd3cy03DMwcxF on social media with the hashtag: #SafelyHomeFromTheWorkZone

    The Highway Hotline can also be checked throughout the year at https://hotline.gov.sk.ca. It provides information on construction zones, weather, ferry crossings and parks. It also alerts drivers to closures and incidents related to vehicle collisions, forest and grass fires.

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    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI USA: Remarks of Commissioner Mark T. Uyeda

    Source: Securities and Exchange Commission

    Welcome to the 12th Annual Conference on Financial Market Regulation.  It is a pleasure to kick off this two-day conference.  Thank you to all who have submitted papers in connection with the conference and to the discussants who have dissected them.  I would also like to thank the staff of the Division of Economic and Risk Analysis, led by Dr. Robert Fisher, for their efforts in planning this program as well as our academic partners.  Today’s program covers a number of timely topics. We have a number of different tracks at the conference, so I thought that I would briefly discuss two topics that caught my attention.[1]

    Private Market Capital Raising

    First, panelists will discuss the economic implications of individual investments in private markets.  One panel will discuss findings related to a systematic study of private equity investments by individual investors.[2]  This topic directly impacts capital formation concerns, but also impacts the issue of expanding investment opportunities for individual investors. Notably, the authors found that contrary to concerns about adverse selection, private equity investments by individual investors perform similarly to those of institutions and outperform public markets. Of particular interest, they identified three innovations that enable individuals to invest in private equity: “the proliferation of funds with low minimum commitments, pooling capital via advisors, and leveraging advisors’ networks to access fund managers.”  These structural observations are relevant as the Commission looks at regulatory mechanisms to increase capital formation. The need to empower retail investment in private companies is critical – both from a capital formation perspective and from an investor diversification lens. 

    Additionally, in exploring ways to expand opportunities by promoting greater retail investing in private companies, changes to the accredited investor definition should be considered. While the accredited investor definition has served as the benchmark for financial sophistication on a national – and perhaps global – level, and has provided stability and predictability to market participants, we look to ways to address some potential unintended consequences of the standard during the forty-plus years since it was introduced.

    In promoting opportunities for retail investment in private companies, we should not shy away from discussing the potential investment risks, including the risk of financial losses.  However, investments in private, growth-stage companies that are higher-risk, higher-reward may be beneficial as part of a person’s diversified portfolio, particularly if the exposure is through pooled investment vehicles.  Modern portfolio theory supports the view that a more diversified portfolio impacts overall economic risk.

    As such, we should seek to modernize the exemptive landscape.  If an individual believes that the risk is appropriate and the framework limits investors to those who are financially sophisticated, can sustain the risk of investment loss, can fend for themselves, and have other relevant characteristics, then our regulatory regime should not deny such individual a source of potential wealth accumulation and portfolio diversification. 

    While current and future regulatory proxies for financial sophistication may never be perfect, we should acknowledge that investor protection might also exist through diversification by expanding opportunities for individual investors to allow them to obtain the investment exposure through financial professionals operating under a best interest or fiduciary duty obligation. 

    Notably, recent investor surveys conducted by the Office of the Investor Advocate found that there is investor appetite by accredited and non-accredited investors, for investing in private companies.  Specifically, 14.4% of accredited investors reported being “interested” in investing in this space, while 4.7% of non-accredited investors reported interest.[3]  Investors in both categories – including persons that are currently non-accredited but may be deemed accredited under any new potential standards—have a desire to optimize their investment returns.  I appreciate the thoughtful economic research related to private markets – this research will likely inform any future policymaking.

    Recent Greenwashing by Funds and Impacts on Investments

    Second, attendees will develop a better understanding of the extent to which funds engaged in “greenwashing” – and more specifically, how such practices impacted investors’ returns.  This is particularly interesting, given the focus on these types of funds recently.  The authors of one paper presented this week, The Economics of Greenwashing Funds, found that “funds engaging in greenwashing charge higher fees while attracting greater flows from investors.”[4]  Charging higher average fees and thus impacting overall returns is concerning in any environment, especially when it is unclear whether improved outcomes were achieved. As it pertains to transactional and investment costs, I also note that the authors found that “greenwashing funds are more likely to incur regulatory costs and experience outflows, as reflected in ESG-related comment letters from the SEC.”  To the extent that funds elect to pursue strategies not directly tied to financial performance of the underlying investments, investors should not be penalized through higher overall investment costs, without corresponding clear and unequivocal disclosure of the downsides of such strategies.  

    These are only two examples of the thoughtful and relevant topics in the program.  There are many other interesting topics, including with respect to crypto.  Your research will help inform policymaking and economic analysis in future regulatory endeavors. 

    Thank you to the economists for your work and thank you for your participation in this conference.  In addition to the presentations, I hope that there will be productive side conversations throughout the next two days. One never knows whether the next great idea will start with some notes jotted down on a napkin.

     

    [1] My remarks reflect solely my individual views as a commissioner and do not necessarily reflect the views of the full U.S. Securities and Exchange Commission or my fellow Commissioners.

    [2] Cynthia Mei Balloch (London School of Economics), Federico Mainardi (University of Chicago), Sangmin Oh (Columbia University), Petra Vokata (The Ohio State University) Democratizing Private Markets: Private Equity Performance of Individual Investors (forthcoming). 

    [3] Katherine Carman, Alycia Chin, Steven Nash, and Brian Scholl. Exploring Accredited Investors and Private Market Securities Ownership, OIAD Working Paper (2025) (forthcoming).

    MIL OSI USA News –

  • MIL-OSI Security: Shasta County Man Pleads Guilty to Running a $35 Million Investment Fraud Scheme and Witness Tampering

    Source: Office of United States Attorneys

    Matthew Piercey, 48, of Palo Cedro, pleaded guilty today to wire fraud, concealment money laundering, and witness tampering in connection with a $35 million investment fraud scheme, Acting U.S. Attorney Michele Beckwith announced. Piercey pleaded guilty without a written plea agreement to all 27 of the pending counts and the Court vacated the May 19, 2025, trial date.

    According to court documents, between July 2015 and August 2020, Piercey solicited investor funds by holding himself out as an investment advisor through his purported investment companies Family Wealth Legacy and Zolla. He made a variety of false and misleading statements to investors about the nature and success of trading algorithms, commissions and fees, investment strategies, the liquidity of investments, and the financial stability of Family Wealth Legacy and Zolla. For example, Piercey marketed the “Upvesting Fund,” an automated algorithmic trading fund that he falsely claimed had a history of success. He took money from numerous investors in this purported fund, but privately admitted to an associate that there was no Upvesting Fund.

    Running a Ponzi-like fraud scheme, Piercey used some investor money to make payments to other investors. As the scheme progressed, Piercey used a Redding-area chiropractor to conceal his continued operation of the investment fraud and take in new money.

    In total, Piercey paid back only approximately $8.8 million to investors of the approximately $35 million invested. He used the additional money for various business and personal expenses, including paying a criminal defense firm and buying two residential properties. Few, if any, liquid assets remained to repay investors.

    According to court documents, when Piercey learned he was under investigation, he took steps to dissuade investors and witnesses from responding to grand jury subpoenas. His actions caused several individuals to delay producing documents, while at the same time, he syphoned off nearly $775,000 from victim investors into a bank account he controlled.

    On Nov. 16, 2020, when law enforcement agents attempted to arrest Piercey, he fled from arrest and led agents on a vehicle chase through residential neighborhoods and onto the highway before abandoning his vehicle and entering Lake Shasta with an underwater submersible device. After about 20 minutes in the water, he emerged from the lake where he was arrested.

    After his arrest, Piercey used coded language to communicate with two individuals who visited him in jail. He directed these individuals to take actions with the contents of a U-Haul storage locker he had rented in Redding. A subsequent FBI search of the storage locker revealed that Piercey had rented the locker under a fictitious name, Chadwick Givens, using a fake California driver’s license. The locker contained, among other things, a wig and ₣31,000 in Swiss francs.

    “Investment fraud schemes like the one led by this defendant can devastate lives, retirements, and undo decades of planning by hard-working people simply looking for a trusted place to invest their money,” said Acting U.S. Attorney Beckwith. “Our office will continue to work with the FBI and our law enforcement partners to bring to justice those who commit these frauds and who seek to tamper with the grand jury process.”

    “Many invested their life savings with Matthew Piercey’s companies, not knowing that the claim of guaranteed returns were the empty promises of a Ponzi scheme,” said FBI Sacramento Special Agent in Charge Sid Patel. “The FBI agents, forensic accountants, and other specialized personnel work tirelessly to ensure those who exploit the trust of a hopeful public will face serious consequences.”

    This case is the product of an investigation by the Federal Bureau of Investigation. Assistant U.S. Attorneys Matthew Thuesen, Audrey B. Hemesath, Christopher S. Hales, and Kevin Khasigian are prosecuting the case.

    Piercey is scheduled to be sentenced by U.S. District Judge Troy L. Nunley on Sept. 4, 2025. Two other defendants who conspired with Piercey in the scheme are Ken Winton and Gary Klopfenstein. Winton pleaded guilty in December 2020 and Klopfenstein pleaded guilty in July 2024. Both Winton and Klopfenstein are scheduled for status conferences regarding sentencing on Aug. 21, 2025.

    Piercey faces a maximum statutory penalty of 20 years in prison and a fine of up to $250,000 or twice the gross gain or loss, whichever is greater, for each wire fraud and mail fraud count; 20 years in prison and a fine of up to $250,000 for each witness tampering count; and 20 years in prison and a fine of up to $500,000 or twice the value of the property involved, whichever is greater, for each money laundering count. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.

    MIL Security OSI –

  • MIL-OSI Security: Former Suffolk County Jail Officer Pleads Guilty to Wire Fraud Charges

    Source: Office of United States Attorneys

    BOSTON – A Quincy man pleaded guilty today in federal court in Boston to a scheme whereby he falsely claimed to sell repossessed vehicles as a law enforcement officer. Defendant claimed to be a Boston Police Detective, Massachusetts State Police Trooper and County Sheriff.

    Recardo S. Beale, 34, of Quincy, pleaded guilty to three counts of wire fraud. U.S. District Court Judge Myong J. Joun scheduled sentencing for Aug. 26, 2025. Beale was charged in March 2025.

    According to charging documents, Beale was an Officer for the Suffolk County Sheriff’s Department from approximately April 2021 to November 2021. Between approximately October 2023 and February 2024, Beale claimed to three individuals that as a law enforcement officer, he had access to repossessed vehicles that he could sell at a low price.

    At various times, Beale identified himself to these individuals as a Sheriff, a Boston Police Detective and/or a Massachusetts State Police Trooper. Beale did not, in fact, hold any of these positions when he made such representations. In reliance on Beale’s false representations, the individuals gave tens of thousands of dollars to Beale for the purported repossessed vehicles. Among the vehicles that Beale falsely promised to sell were a BMW, an Audi and a Mercedes. Beale never delivered any such vehicles as Beale did not have any such repossessed vehicles available for sale. On separate occasions, Beale met with two separate individuals at the Suffolk County House of Correction purportedly to show them repossessed vehicles. During one such meeting on Nov. 17, 2023, Beale met with an individual inside the House of Correction. Surveillance video showed Beale wearing a Suffolk County Correction Officer Academy hoodie, blue tactical pants like those worn by jail guards and black boots also similar to those worn by jail guards. Beale did not show any vehicles to the individual on Nov. 17, 2023, claiming that his superior, was also involved in the sale, and not available.  

    The charge of wire fraud provides for a sentence of up to 20 years in prison, three years of supervised release and a fine of up to $250,000. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

    United States Attorney Leah B. Foley; Ketty Larco-Ward, Inspector in Charge of the United States Postal Inspection Service’s Boston Office; and Kim Milka, Acting Special Agent in Charge of the Federal Bureau of Investigation Boston Division made the announcement today. Assistant U.S. Attorney Caroline Merck of the Springfield Branch Office and John Mulcahy of the Public Corruption & Special Prosecutions Unit are prosecuting the case.   
     

    MIL Security OSI –

  • MIL-OSI Security: Texas woman sent to federal prison for transporting drugs into the United States

    Source: Office of United States Attorneys

    LAREDO, Texas – A 29-year-old San Antonio resident has been sentenced for the attempted importation of methamphetamine, announced U.S. Attorney Nicholas J. Ganjei.

    Shania Nichele Ellis pleaded guilty Dec. 18, 2024.

    U.S. District Judge John A. Kazen has now ordered Ellis to serve 97 months in federal prison to be immediately followed by five years of supervised release. At the hearing, the court heard additional testimony that detailed how Ellis knew she was going to Mexico to move narcotics for money. In handing down the sentence, the court noted Ellis made a terrible decision.

    On Aug. 25, 2024, Ellis drove from Mexico to the Gateway to the Americas International Bridge 1 in Laredo and entered the trusted traveler lane. Authorities subsequently referred her to secondary inspection after learning she was not enrolled in that program.

    There, they discovered a small access door on the rear liftgate which revealed several bundles of narcotics. A K9 also alerted to the vehicle’s doors where more bundles were hidden inside the panels.

    Law enforcement ultimately found a total of 44 bundles of methamphetamine, weighing 24.407 kilograms with a 97% purity level as well as two bundles of cocaine weighing 655.6 grams and one bundle of black heroin weighing 494.5 grams.

    The investigation revealed that a friend had attempted to recruit her via social media to transport the narcotics from Mexico to the United States. While visiting that friend in Monterrey, Mexico, her car went missing. It was returned the following day when she was told to leave.

    As part of her plea, she admitted she conspired with at least one other person to import narcotics across the border from Mexico into the United States.

    She has been and will remain in custody pending transfer to a Federal Bureau of Prisons facility to be determined in the near future.

    Immigration and Customs Enforcement – Homeland Security Investigations and Customs and Border Protection conducted the investigation. Assistant U.S. Attorney Andrew P. Hakala-Finch prosecuted the case.

    MIL Security OSI –

  • MIL-OSI Canada: Suicide prevention framework will save lives

    Source: Government of Canada regional news

    New clinical guidance will offer best practices for recognizing and supporting people at risk for suicide, helping more people get the right care and saving more lives.

    “Every life lost to suicide is a profound tragedy,” said Josie Osborne, Minister of Health. “This new framework represents a critical step in ensuring that individuals experiencing suicidal thoughts can access the support they need to move toward hope and healing. It sets a clear path for how we will care for and support those most at risk.”

    In partnership with the Province, the Canadian Mental Health Association, BC Division (CMHA BC) led the development of a suicide-risk-reduction framework to support health-care organizations in improving care provided to people at risk for suicide. It will apply to patients who are 18 and older and are accessing mental-health or substance use care in hospital emergency departments, acute psychiatry or medical inpatient units or outpatient mental-health services.

    “People experiencing a mental-health crisis need to be met with compassion and person-centred care,” said Amna Shah, parliamentary secretary for mental health and addictions. “When someone is experiencing thoughts of suicide, it is especially important that they get timely supports for as long as they need. This framework will support our health-care facilities in offering best practice guidance so clinicians can help more people with the right care.”

    Through an early, consistent, and systematic process, the framework offers guidance to enhance the detection of individuals at risk for suicide. It also provides suggestions that can help eliminate bias and barriers to care, including stigma and experiences of discrimination or Indigenous-specific racism.

    It also includes best practices to maximize the patient’s safety during and after their care. With a tailored care plan, evidence-based treatment, effective transition to community care, and follow up and monitoring post-discharge, better outcomes can be achieved.

    “When someone is struggling with thoughts of suicide, asking compassionate questions and truly listening can make all the difference,” said Jonny Morris, CEO, CMHA BC. “This framework helps health-care teams have these vital conversations, understand each person’s unique story, and support informed decisions about care. We’re deeply grateful to the Province of B.C., our partners, and especially the courageous and wise individuals whose lived experiences shaped this important work.”

    Building on best practices in Canadian and international jurisdictions, the framework was created with input from people with lived and living experience with mental-health crises. Indigenous cultural safety is embedded throughout the framework, as Indigenous Peoples disproportionately experience poorer health outcomes within the health-care system.

    In addition to prioritizing cultural safety, the framework is based on a foundation of patient and family engagement, trauma-informed care and close collaboration with community care providers, which can help ensure the continuity of care.

    “The release of the suicide-risk reduction framework is an important step for British Columbia, and I want to thank our partners for their collaboration,” said Lesley Lutes, professor, director of the Centre for Obesity and Well-Being Research Excellence, department of psychology, UBC Okanagan; and director of advocacy, BC Psychological Association. “When we treat mental health with the same level of rigour and evidence-based interventions as we do with physical health, we save lives.”

    This work is part of the Province’s efforts to build up the entire continuum of mental-health and substance-use care for people to get the right support for them. This includes increasing early intervention and prevention, adding and expanding treatment and recovery services, building complex care housing, adding overdose prevention services and more.

    If you are experiencing feelings of distress or despair, including thoughts of suicide, call 1 800 SUICIDE (784-2433).

    Quick Facts:

    • In Canada, approximately 12 people die by suicide each day, which translates to 4,500 deaths per year.
    • In B.C., there are an average of approximately 615 deaths by suicide every year.
    • Males accounted for 75% of suicide deaths in B.C. in 2023.
    • In Canada, overall suicide rates are higher among some Indigenous populations than non-Indigenous populations.
      • Suicide rates across First Nations, Métis and Inuit communities vary greatly.
    • Deaths by suicide in the province more than double the motor vehicle fatalities in B.C.

    Learn More:

    To see the suicide-risk-reduction framework, visit: https://news.gov.bc.ca/files/SuicidePrevention_Framework.pdf

    To find mental-health and substance-use supports in B.C., visit: https://helpstartshere.gov.bc.ca/

    MIL OSI Canada News –