Latest news with #Critical
Yahoo
02-06-2025
- Business
- Yahoo
The Commerce Department recalled funding for 6 manufacturing tech hubs. What happens next?
This story was originally published on Manufacturing Dive. To receive daily news and insights, subscribe to our free daily Manufacturing Dive newsletter. Six U.S. technology and manufacturing hubs that were previously approved for a total of $210 million in federal grants must now reapply for the funding after Commerce Secretary Howard Lutnick decided to revamp a Biden-era investment program last month. On May 16, Lutnick issued a statement criticizing the prior administration's selection of six applicants for Tech Hubs Program funding earlier this year, calling the process 'rushed, opaque, and unfair.' As a result, he said another competition is in the works this summer, with plans to announce the winners in January 2026. Doug Merrill, regional innovation officer for the Vermont Gallium Nitride Tech Hub — one of the hubs that recently lost $23 million in funding for semiconductor development and workforce training — said in a statement that the hub is 'eager to re-apply' as it moves forward with support from other members and partners. The funding reversal is part of a larger trend by the Trump Administration to cut Biden-era programs, including tens of millions of dollars in National Science Foundation grants and recent efforts to slash billions in climate-related funds. In January, the Biden Administration approved grants to six university- or nonprofit-led applicants ranging between $22 million and $48 million as an investment to advance technology important to U.S. economic and national security. The funds came from the fiscal year 2025 National Defense Authorization Act and were in addition to a separate round of grants totaling $504 million in July 2024 for projects recognized as 'tech hubs.' However, Lutnick said the selection process and approval for the six projects were done with funds that were not available yet. 'At my direction, the Commerce Department is revamping the Tech Hubs program to prioritize national security, project quality, benefit to the taxpayer, and a fair process,' Lutnick said in a statement. 'To be clear, this decision is not an indictment of the work that the previously selected Tech Hubs are doing,' he added. 'They can compete for funding alongside all other prospective applicants.' The tech hubs that were approved for and then denied funding include: American Aerospace Materials Manufacturing Center (Washington, Idaho): $48 million Birmingham Biotechnology Hub (Alabama): $44 million Corvallis Microfluidics Tech Hub (Oregon): $45 million Critical Minerals and Materials for Advanced Energy (CM2AE) Tech Hub (Missouri): $29 million Forest Bioproducts Advanced Manufacturing Tech Hub (Maine): $22 million Vermont Gallium Nitride Tech Hub (Vermont): $23 million Lawmakers who previously celebrated the investments as a way to support American manufacturing and supply chain innovation were disappointed by Lutnick's decision to withhold previous awards from the Biden Administration. Washington Sen. Maria Cantwell, whose state had won $48 million to support the American Aerospace Materials Manufacturing Center, called the loss of funding an 'unnecessary delay' in the race to reestablish the U.S. as a global leader in aerospace component production. 'This is causing us chaos and uncertainty in a race against world competitors to build high rate manufactured composites likely to determine which country wins the aerospace future,' Cantwell said in a statement May 16. Despite the reversal of funds, the affected tech hubs are moving forward as planned with help from other supporters. 'Our vast consortium is proud to have the support of our legislators and the communities across Washington and Idaho as we move forward,' the AAMMC said in a public statement May 19. Additionally, The Vermont Gallium Nitride Tech Hub, led by the University of Vermont and chip maker GlobalFoundries, looks forward to reapplying for funding. 'Vermont's Tech Hub continues to move forward full steam ahead, having attracted $3.9 million in funding and sixty members and partners to date,' Merrill said in a statement. 'The interest that our partners have demonstrated make us confident that the scope and mission we will propose in the next funding round will be well aligned with our nation's technology priorities and will be highly competitive in the next round of project selection,' he added. Recommended Reading US to investigate semiconductor imports Sign in to access your portfolio
Scoop
19-05-2025
- Health
- Scoop
The Greenlea Rescue Helicopter Undertakes 30 Life-saving Missions In April
The Greenlea Rescue Helicopter carried out 30 life-saving missions across the Central Plateau and Lakes region throughout April. These missions included 13 inter-hospital transfers, 2 medical events, 10 rural/farm incidents, 3 motor vehicle accident, and 2 miscellaneous missions. The rescue helicopter was most often seen in Taupo, completing 5 inter-hospital transfers, as well as in Rotorua, where the crew performed 5 inter-hospital transfers. Additionally, the rescue helicopter crew were spotted in remote locations such as Mount Ruapehu, Ruatahuna and Wairakei to name a few. The month began with the Greenlea Rescue Helicopter being dispatched to Taupo Hospital for a female who had sustained injuries. The patient was flown to Waikato Hospital for further treatment. The following morning, the Greenlea Rescue Helicopter was tasked to Tongariro National Park to assist a male who was suffering from a medical event. The patient was flown to Taupo Hospital for further medical care. Later that morning, the rescue helicopter flew to Matapu for a male who had sustained significant injuries following a motor vehicle accident. The patient was treated on scene for approximately 40 minutes by the onboard Critical Care Flight Paramedic before being to Waikato Hospital for further treatment. On Sunday afternoon, April 6th, the Greenlea Rescue Helicopter was tasked to Taumarunui Hospital for a male who was experiencing a serious medical event. The patient was stabilised and airlifted to Waikato Hospital for further treatment. On Wednesday morning, April 9th, the Greenlea Rescue Helicopter was tasked to Ruatahuna for a male who was experiencing a medical event. The patient was flown to Rotorua Hospital for further treatment after being stabilised on scene by the Critical Care Flight Paramedic. On Friday afternoon, April 11th, the Greenlea Rescue Helicopter flew to Erua for a female who had sustained serious injuries after a fall from a quad bike. The patient was treated on scene and then airlifted to Taupo Hospital for further treatment. The next evening, the Greenlea Rescue Helicopter was dispatched to Kawakawa Bay for a female who was experiencing a medical event. The patient was airlifted to Rotorua Hospital to receive further medical treatment. On Monday morning, April 14th, the Greenlea Rescue Helicopter was tasked to Rotorua Hospital for a female who was suffering from a serious medical condition. The patient was flown swiftly to Waikato Hospital for further treatment. In the early hours of Wednesday morning, April 16th, the Greenlea Rescue Helicopter was tasked to Murupata for a male who was in serious condition. The patient was airlifted to Rotorua Hospital for further treatment. On Sunday afternoon, April 20th, the Greenlea Rescue Helicopter was dispatched to Taumarunui Hospital for a female who was experiencing a serious medical event. The patient was treated and airlifted to Waikato Hospital for further treatment. On Thursday afternoon, April 24th, the Greenlea Rescue Helicopter was dispatched to Taupo Airport for a male who had sustained injuries following a significant fall down a 3m bank. The patient was airlifted swiftly to Waikato Hospital for further treatment. Later that afternoon, the rescue helicopter flew to Rotorua Hospital for a male who was experiencing a medical condition. The patient was flown to Waikato Hospital to receive further treatment. On Friday afternoon, April 25th, the rescue helicopter flew to Rotorua Hospital for a male who had sustained injuries after falling from a significant height (3m). The patient was airlifted swiftly to Waikato Hospital to receive further care. That evening, the Greenlea Rescue Helicopter was dispatched to Rotorua Hospital for a male who was suffering a medical condition. The patient was transported to Waikato Hospital for further treatment. On Saturday afternoon, April 26th, the Greenlea Rescue Helicopter was dispatched to Wairakei Forest for a male who sustained injuries after a mountain biking accident. The patient was treated and airlifted to Taupo Airport for further medical care. The month concluded with the Greenlea Rescue Helicopter being dispatched to Waihaha for a female who sustained significant injuries following a motor vehicle accident. The patient was treated on scene for approximately one hour before being airlifted to Waikato Hospital for further treatment. The fast response of the rescue helicopter and its highly trained crew ensures the patients receive the best care as quickly as possible. Because you never know when you'll need us… Donate to your Greenlea Rescue Helicopter rescue-helicopter/donate
Edmonton Journal
15-05-2025
- Business
- Edmonton Journal
Ontario budget forecasts $14.6B deficit, slower growth in wake of U.S. tariffs
Article content Much of the increased pressure comes from about $30 billion in spending to stimulate the economy in the face of tariffs, including a $5-billion fund to give businesses relief, adding $5 billion to an infrastructure financing fund, and implementing a new, $500-million Critical Minerals Processing Fund. As well, the government is planning to add $1 billion to its Skills Development Fund to retrain workers, add $600 million to a fund that helps businesses set up or expand in Ontario, $200 million for a shipbuilding grant program and create a $50-million fund to help businesses make new supply chains and help boost interprovincial trade. But for all of the various funds for businesses, opposition leaders said there is very little in the budget for people and their most pressing needs, such as housing and health care. 'This budget talks a lot about cars and infrastructure,' Green Party Leader Mike Schreiner said. 'It doesn't talk a lot about actually investing in people.'
The Star
24-04-2025
- Business
- The Star
GDP numbers to be reviewed after IMF revises forecast
PUTRAJAYA: Malaysia will relook its real gross domestic product (GDP) growth after the International Monetary Fund (IMF) revised the forecast for this year down from 4.7% to 4.1%, Bank Negara and the Treasury will have to do the review after IMF revised its economic growth forecast for many countries, Prime Minister Datuk Seri Anwar Ibrahim said. 'For the United States, China and most countries, it is slightly down. 'I will give a complete statement in Parliament on May 5,' said Anwar when attending a Hari Raya reception at the Customs Department in Putrajaya yesterday. In its April 2025 World Economic Outlook report titled 'A Critical Juncture amid Policy Shifts', the IMF cut Malaysia's real GDP growth forecast and projected the economy to expand by 3.8% next year. The IMF trimmed its global growth forecast for this year to 2.8%, down 0.5% from its January estimate. Among Malaysia's regional peers, the IMF cut Indonesia's outlook for this year to 4.7% from 5.1%. The Philippines is now expected to grow by 5.5%, down from 6.1%, while Thailand's forecast was revised to 1.8% from 2.9%. The fund said major policy shifts were reshaping the global trade landscape and reigniting uncertainty. US president Donald Trump announced a 90-day pause on the implementation of retaliatory tariffs since April 9, except for China, Before that, Malaysia's exports to the United States were subjected to 24% retaliatory tariffs As negotiations continue, Trump said he was authorising a universal 'lowered reciprocal tariff of 10%' against almost all countries. However, on April 22, the United States announced it was implementing new duties as high as 3,521% on solar imports from four South-East Asian countries, including Malaysia. The duties are the result of a year-long probe that found solar manufacturers in Cambodia, Vietnam, Malaysia and Thailand were unfairly benefiting from government subsidies and selling items to the United States at rates lower than the cost of production.
Daily Express
23-04-2025
- Business
- Daily Express
International Monetary Fund cuts Malaysia's 2025 GDP forecast to 4.1%
Published on: Wednesday, April 23, 2025 Published on: Wed, Apr 23, 2025 By: Bernama Text Size: The International Monetary Fund previously put Malaysia's real gross domestic product growth forecast for 2025 at 4.7%. (Envato Elements pic) Kuala Lumpur: The International Monetary Fund (IMF) has downgraded Malaysia's real gross domestic product (GDP) growth forecast for 2025 to 4.1% from 4.7% previously, reflecting a broader downward revision across the region. In its April 2025 World Economic Outlook, titled 'A Critical Juncture Amid Policy Shifts', the fund also projected that Malaysia's economy would expand by 3.8% in 2026. The IMF trimmed its global growth forecast for 2025 to 2.8%, down 0.5 percentage point from its January estimate. Regionally, the IMF cut Indonesia's 2025 outlook to 4.7% from 5.1%. The Philippines meanwhile is expected to grow by 5.5%, down from 6.1%, while Thailand's forecast was revised to 1.8% from 2.9%. The fund said major policy shifts were reshaping the global trade landscape and reigniting uncertainty, once again testing the resilience of the global economy. 'Since February, the US has announced multiple waves of tariffs against trading partners, some of which have invoked countermeasures. 'Markets initially took the announcements mostly in stride, until the US's near-universal application of tariffs on April 2, which triggered historic drops in major equity indices and spikes in bond yields, followed by a partial recovery after the pause and additional carve-outs announced on and after April 9,' it said. The IMF reiterated that the global economy was at a critical juncture, with signs of stabilisation emerging through much of 2024 after a prolonged and challenging period of unprecedented shocks. 'Inflation, down from multi-decade highs, followed a gradual though bumpy decline towards central bank targets. Labour markets normalised, with unemployment and vacancy rates returning to pre-pandemic levels,' it added. On productivity, the IMF noted widening discrepancies as manufacturing activity continued shifting from advanced economies to emerging markets. Industrial production plunged in all countries at the onset of the pandemic. The recovery paths, however, have been decisively different. Production soared in China and expanded in smaller European Union economies and the Asean-5 (Indonesia, Malaysia, the Philippines, Singapore, Thailand), whereas it struggled to return to pre-pandemic levels in Japan and the largest EU countries, the IMF said. The fund said industrial production in the US meanwhile had rebounded more strongly than in other advanced economies. On commodities, the IMF projected that fuel prices would fall by 7.9% in 2025, led by a 15.5% drop in oil prices and a 15.8% fall in coal prices. These declines are expected to be partially offset by a 22.8% rise in natural gas prices, driven by colder-than-expected weather and the cessation of Russian gas flows to Europe via Ukraine since January. Non-fuel commodity prices are forecast to increase by 4.4% in 2025. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
