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Blog

  • MIL-OSI: XO Swap by Exodus Now Available in Bifrost Wallet

    Source: GlobeNewswire (MIL-OSI)

    OMAHA, Neb., Feb. 12, 2025 (GLOBE NEWSWIRE) — XO Swap by Exodus has officially been integrated into Bifrost Wallet, marking a significant step forward for seamless cross-chain swaps. This collaboration brings XO Swap’s advanced liquidity aggregation to Bifrost, enabling users to swap tokens effortlessly, including FLR (Flare) and SGB (Songbird)—two of the most prominent assets in the Flare ecosystem.

    Bifrost has been a pioneer in supporting Songbird and Flare, making this integration a natural fit to enhance liquidity and accessibility for users. With XO Swap, Bifrost users can now swap FLR, SGB, and other key assets like BTC, ETH, and USDC, directly within their wallet without relying on centralized exchanges.

    A Collaboration to Strengthen the Ecosystem

    “Bringing XO Swap to Bifrost means more seamless, self-custodial trading options for users,” said Kevin Wood, Director of Revenue Operations at Exodus. “Supporting Songbird and Flare through Bifrost helps expand accessibility for these key assets while giving users the best swap rates in the market.”

    As one of the first wallets to support Flare and Songbird, Bifrost has been a key player in empowering users with decentralized finance tools. This integration allows for frictionless asset swapping, strengthening Songbird’s liquidity while enhancing Bifrost’s DeFi capabilities.

    “Bifrost Wallet has always prioritized interoperability and ease of use, and integrating XO Swap aligns perfectly with that mission,” said Marco, Head of Marketing at Bifrost Wallet. “Our users now have access to one of the most robust swapping engines, unlocking new trading opportunities across multiple blockchains.”

    Key Swap Pairs Now Available in Bifrost via XO Swap:

    • FLR ⇄ SGB
    • FLR ⇄ XRP
    • FLR ⇄ USDC
    • SGB ⇄ BTC
    • SGB ⇄ XRP
    • SGB ⇄ DOGE
    • BTC ⇄ FLR
    • ETH ⇄ SGB

    With XO Swap now live in Bifrost, users can experience seamless swaps with deep liquidity and competitive rates across multiple networks.

    About Exodus
    Exodus empowers individuals to take control of their lives in a digital world with secure, user-friendly crypto software. Since 2015, Exodus has made digital assets accessible through self-custodial wallets that put users in full control of their funds, enabling seamless swaps, buys, and sells. For businesses, Exodus offers Passkeys Wallet and XO Swap, leading solutions for embedded crypto wallets and swap aggregation. Committed to accessible and secure finance, Exodus is shaping the future of digital ownership. Learn more at exodus.com or follow us on X at x.com/exodus.

    About Bifrost
    Bifrost Wallet is a self-custody wallet with you in full control over your crypto assets, keys, and data, all in one simple and secure app. Supported blockchains include Bitcoin, Ethereum, XRP, Dogecoin, Flare, and many more. Learn more at bifrostwallet.com/ or follow them on X at x.com/bifrostwallet.

    Investor Contact
    investors@exodus.com

    The MIL Network –

    February 13, 2025

  • MIL-OSI: Veeco Ships Nanosecond Annealing System Targeting High Volume Production of 2 Nanometer Gate-All-Around Chips

    Source: GlobeNewswire (MIL-OSI)

    PLAINVIEW, N.Y., Feb. 12, 2025 (GLOBE NEWSWIRE) — Veeco Instruments Inc. (NASDAQ: VECO) announced today a NSA500™ Nanosecond Annealing system shipment to a leading-edge semiconductor company for high-volume production of 2-nanometer gate-all-around logic chips. The shipment occurred during the fourth quarter of 2024.

    Equally as important, the company’s NSA500™ evaluation programs at two other leading-edge customers are progressing well with multiple applications being considered. Interest from additional logic and memory customers to evaluate Veeco’s system also remains high.

    Veeco’s recently launched next-generation annealing platform expands the company’s overall opportunity in laser annealing to leading-edge applications in logic and memory. New applications include precise shallow anneals for 3D devices, low thermal budget anneals, and material modification applications. Compared to traditional annealing solutions, the NSA500 system is capable of precisely annealing relevant surface layers without damaging the underlying device due to its combination of short dwell times in the nanosecond scale and high temperatures. 

    “Shipment of this NSA500™ Nanosecond Annealing system is an important milestone given the growing need for annealing solutions with advanced capabilities for leading-edge applications,” commented Adrian Devasahayam, Ph.D., Veeco’s Senior Vice President, Product Line Management. “We look forward to supporting our customers as they accelerate production of next-generation chips for growing markets such as artificial intelligence and high-performance computing. The broad applicability of Veeco’s NSA500 system provides a significant opportunity to expand Veeco’s served available market.”

    About Veeco
    Veeco (NASDAQ: VECO) is an innovative manufacturer of semiconductor process equipment. Our laser annealing, ion beam, chemical vapor deposition (CVD), metal organic chemical vapor deposition (MOCVD), single wafer etch & clean and lithography technologies play an integral role in the fabrication and packaging of advanced semiconductor devices. With equipment designed to optimize performance, yield and cost of ownership, Veeco holds leading technology positions in the markets we serve. To learn more about Veeco’s systems and service offerings, visit www.veeco.com.

    To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management’s Discussion and Analysis sections of Veeco’s Annual Report on Form 10-K for the year ended December 31, 2023 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.

    Veeco Contacts:                                
    Investors: Anthony Pappone | (516) 500-8798 | apappone@veeco.com
    Media: Brenden Wright | (410) 984-2610 | bwright@veeco.com

    The MIL Network –

    February 13, 2025

  • MIL-OSI Africa: Donald Trump’s war on global governance: lessons from the past on how to fight back

    Source: The Conversation – Africa – By Danny Bradlow, Professor/Senior Research Fellow, Centre for Advancement of Scholarship, University of Pretoria

    US president Donald Trump’s recent actions seem designed to reassert American power and demonstrate that it is still the dominant global power and is capable of bullying weaker nations into following America’s lead.

    He has shown contempt for international collaboration by withdrawing from the UN climate negotiations and the World Health Organization. His officials have also indicated that they will not participate in upcoming G20 meetings because he does not like the policies of South Africa, the G20 president for 2025.

    In addition, he’s shown a lack of concern for international solidarity by halting US aid programmes and by undermining efforts to keep businesses honest. He has demonstrated his contempt for allies by imposing tariffs on their exports.

    These actions demand a response from the rest of the international community that mitigates the risk to the well-being of people and planet and the effective management of global affairs.

    My research on global economic governance suggests that history can offer some guidance on how to shape an effective response.

    Such a response should be based on a realistic assessment of the configuration of global forces. It should seek to build tactical coalitions between state and non-state actors in both the global south and the global north who can agree on clear and limited objectives.

    The following three historical lessons help explain this point.

    Cautionary lessons

    The first lesson is about the dangers of being overoptimistic in assessing the potential for change.

    In the late 1960s and early 1970s, the US was confronting defeat in the war in Vietnam, high inflation and domestic unrest, including the assassination of leading politicians and the murder of protesting students.

    The US was also losing confidence in its ability to sustain the international monetary order it had established at the Bretton Woods conference in 1944.

    In addition, the countries of the global south were calling for a new international economic order that was more responsive to their needs. Given the concerns about the political and economic situation in the US and the relative strength of the Soviet bloc at the time, this seemed a realistic demand.

    In August 1971, President Richard Nixon, without any international consultations, launched what became known as the Nixon Shock. He broke the link between gold and the US dollar, thereby ending the international monetary system established in 1944. He also imposed a 10% surcharge on all imports into the US.

    When America’s European allies protested and sought to create a reformed version of the old monetary order, US treasury secretary John Connolly informed them that the dollar was

    our currency but your problem.

    Over the course of the 1970s, US allies in western Europe, Asia and all countries that participated in the old Bretton Woods system were forced to accept what the US preferred: a market-based international monetary system in which the US dollar became the dominant currency.

    The US, along with its allies in the global north, also defeated the calls for a new international economic order and imposed their neo-liberal economic order on the world.

    The second cautionary lesson highlights the importance of building robust tactical coalitions. In 1969, the International Monetary Fund member states agreed to authorise the IMF to create special drawing rights, the IMF’s unique reserve asset. At the time, many IMF developing country member states advocated establishing a link between development and the special drawing rights. This would enable those countries most in need of additional resources to access more than their proportionate share of special drawing rights to fund their development.

    All developing countries supported this demand. But they couldn’t agree on how to do it. The rich countries were able to exploit these differences and defeat the proposed link between the special drawing rights and development. As a result, the special drawing rights are now distributed to all IMF member states according to their quotas in the IMF. This means that most allocations go to the rich countries who do not need them and have no obligation to share them with developing countries.

    A third lesson arises from the successful Jubilee 2000 campaign to forgive the debts of low-income developing countries experiencing debt crises. This campaign, supported by a secretariat in the United Kingdom, eventually involved:

    • civil society organisations and activists in 40 countries

    • a petition signed by 21 million people

    • governments in both creditor and debtor countries.

    These efforts resulted in the cancellation of the debts of 35 developing countries. These debts, totalling about US$100 billion, were owed primarily to bilateral and multilateral official creditors.

    They were also a demonstration of the political power that can be generated by the combined actions of civil society organisations and governments in both rich and poor countries. They can force the most powerful and wealthy institutions and individuals in the world to accept actions that, while requiring them to make affordable sacrifices, benefit low-income countries and potentially poor communities within those states.

    What conclusions should be drawn?

    We shouldn’t under-estimate the power of the US or the determination of the MAGA movement to use that power. However, their power is not absolute. It is constrained by the relative decline in US power as countries such as China and India gain economic and political strength. In addition, there are now mechanisms for international cooperation, such as the G20, where states can coordinate their actions and gain tactical victories that are meaningful to people and planet.

    But gaining such victories will require the following:

    Firstly, the formation of tactical coalitions that include states from both the global south and the global north. If these states cooperate around limited and shared objectives they can counter the vested interests around the world that support Trump’s objectives.

    Secondly, a special kind of public-private partnership in which states and non-state actors set aside their differences and agree to cooperate to achieve limited shared objectives. Neither states alone nor civil society groups alone were able to defeat the vested interests that opposed debt relief in the late 1990s. Working together they were able to defeat powerful creditor interests and gain debt relief for the poorest states.

    Thirdly, this special partnership will only be possible if there’s general agreement on both the diagnosis of the problem and on the general contours of the solution. This was the case with the debt issue in the 1990s.

    There are good candidates for such collaborative actions. For example, many states and non-state actors agree that international financial institutions need to be reformed and made more responsive to the needs of those member states that actually use their services but lack voice and vote in their governance. The institutions also need to be more accountable to those affected by their policies and practices. They also agree that large corporations and financial institutions should pay their fair share of taxes and should be environmentally and socially responsible.

    The urgency of the challenges facing the global community demands that the world begin countering Trump as soon as possible. South Africa as the current chair of the G20 has a special responsibility to ensure that this year the G20, together with its engagement groups, acts creatively and responsibly in relation to people and planet.

    – Donald Trump’s war on global governance: lessons from the past on how to fight back
    – https://theconversation.com/donald-trumps-war-on-global-governance-lessons-from-the-past-on-how-to-fight-back-249666

    MIL OSI Africa –

    February 13, 2025

  • MIL-OSI Africa: Ghana’s urban strategies neglect the needs of street vendors: policy must catch up with reality

    Source: The Conversation – Africa – By Stephen Appiah Takyi, Senior Lecturer, Department of Planning, Kwame Nkrumah University of Science and Technology (KNUST)

    Street vending is a major economic activity in most of Ghana’s urban areas. The vendors bring everyday goods to residents and commuters at affordable prices in places convenient to them. However, the growing intensity of street vending activities in Ghanaian cities such as Accra and Kumasi is creating management problems for city authorities. Vendors are being removed as cities aim to “clean up” and modernise the urban landscape.

    City authorities haven’t created ways to support street vendors. Instead, they treat them as a nuisance and use stringent regulations aimed at displacing them. This approach overlooks the potential benefits that the thriving street economy could bring to the local economy and social fabric. In contrast, for example, South Africa’s policy supports informal economic activities by providing vending spaces for street traders.

    As academics who specialise in urban planning, we set out to investigate the rules around street vending in Ghana. Our study was conducted in Kumasi, the capital of the Ashanti region and the second most important city in Ghana. We found that the regulation of street vending in Ghana is unclear, contradictory and ineffective. It fails to provide a clear policy direction and adequate planning tools for integrating street vending into urban areas.

    Our research reinforces the argument that the regulation of street vending is often ambiguous. We argue that these policy inconsistencies create loopholes for the hostile attitude of city authorities towards street vendors.

    We call for policies that recognise the socioeconomic value of street vending and make urban spaces more inclusive.

    The lay of the land

    Our analysis is based on two national policy documents. These are the National Urban Policy Framework and the Local Governance Act 2016 (Act 936). We also rely on two local policy documents specific to the Kumasi Metropolitan Area. These are the Kumasi Metropolitan Assembly By-Laws on Control of Hawkers 1995 and the Kumasi Metropolitan Assembly Medium-Term Development Plan (2018–2021).

    The National Urban Policy recognises and promotes street vending as part of the urban economy. It calls for local government authorities to recognise and include the informal sector.

    But the overarching law regulating street vending in Ghana is the Local Governance Act. It authorises local government bodies (city authorities) to pass by-laws that forbid street vending. This is in conflict with the national policy.

    The gaps

    Our study revealed that in the Kumasi Metropolitan Area, the authorities seem to want to help street vendors in some ways – to strengthen the capacity of informal economic actors. But they don’t make plans or take actions to do so in the medium term development plan. Local government authorities sometimes evict street vendors from the central business district.

    In Kumasi, urban policy, regulations and local development planning do not include street vending in the urban development process even though vendors are the largest group of business people in the city. Instead of building stalls and facilities to accommodate these economic operators, the authorities rather expropriate urban space from them to develop modern structures which are expensive for street vendors to occupy.

    There is conflict over the use of urban public spaces. City authorities view the activities of street vendors as illegal, while the vendors see them as legitimate sources of livelihood. Authorities control vending through eviction and relocation.

    In recent years, city authorities have adopted urban infrastructural planning and development as a strategy to remove street vendors. Take the case of the new Kejetia Market Redevelopment Project, which replaced the largest traditional market in west Africa with a modern urban market structure in Kumasi. Over 10,000 street vendors and 4,000 market traders were displaced.

    The neglect of street vending in the design means vendors will have to earn a living informally – which simply adds to the “problem” as the city sees it.

    What next?

    Policies and practices that try to exclude people are not a solution to the problems of street vending. They are often counter productive. Regulating street vending requires inclusive policy measures and a clear policy direction to manage these activities. At present, Ghana, like many other African countries, lacks effective planning strategies to manage the activities of street vending.

    Our recommendations include:

    • coherent and inclusive policies that recognise the socioeconomic value of street vending and give vendors a rightful place in cities

    • reforming urban governance to support the informal economy

    • coherent and precise policies that give street vendors more security.

    The current policy vacuum fuels repressive regulation and excludes street vendors from urban development processes.

    To develop effective policy models, it is critical to learn from the experiences of street vendors and involve them in urban development processes. This starts with a change of attitude among city authorities.

    – Ghana’s urban strategies neglect the needs of street vendors: policy must catch up with reality
    – https://theconversation.com/ghanas-urban-strategies-neglect-the-needs-of-street-vendors-policy-must-catch-up-with-reality-248020

    MIL OSI Africa –

    February 13, 2025

  • MIL-OSI Africa: Sustainable economic growth in South Africa will come from renewables, not coal: what our model shows

    Source: The Conversation – Africa – By Andrew Phiri, Associate Professor of Economics, Nelson Mandela University

    Coal fired power stations produce 85% of South Africa’s electricity, making the country the biggest producer of harmful greenhouse-gas emissions in Africa. To move away from coal and meet its commitment to reaching net zero emissions by 2050, South Africa needs to dramatically increase production of renewable energy. New research by economics associate professor Andrew Phiri looked at the relationship between renewable and non-renewable energy consumption and GDP growth in South Africa to find out which energy source is most compatible with economic development.

    Non-renewables, renewables and economic growth: what’s there to know?

    We set out to discover whether renewable energy in South Africa, such as wind or solar power, supports sustainable economic growth. We also wanted to find out if renewables can replace non-renewable energy as a source and enabler of economic growth.

    Together with student Tsepiso Sesoai, I did research comparing the impact of renewable and non-renewable energy on economic growth in South Africa.

    South Africa currently faces a dual challenge when it comes to energy. It is heavily dependent on non-renewable energy (coal), which also worsens global warming and speeds up climate change. But it desperately needs to grow the economy at a faster rate, given very high unemployment, poverty and inequality.

    It’s therefore important to find out whether South Africa would be able to make a smooth transition from non-renewable energy to cleaner energy, and grow the economy at the same time.

    Past studies have looked into the role of energy in South Africa’s economic growth, but their methods have provided only limited information about whether South Africa can make a smooth transition from dirty to clean energy.

    Read more: African economic expansion need not threaten global carbon targets: study points out the path to green growth

    To get a deeper understanding, we conducted a modelling exercise. We used an analytical tool called “continuous complex wavelets” to see how renewable and non-renewable energy influences growth over time.

    Our model shows that an increased supply and higher consumption of non-renewable energy causes long-term economic growth over 10-15 year cycles. Renewables, at best, have short-term growth effects over six months to one year.

    After 2000, there was a very sharp increase of almost 25% in the use of renewable energy throughout the decade. According to our model, this sharp increase was enough to have an impact on economic growth over the short term but not over the long term.

    This is because South African energy regulators have not adopted strong enough measures for renewable energy to enable long-term growth. They have not funded the mass rollout of renewable energy, or connected renewables to the national grid. We found that renewables can only sustain growth over six to 12 month cycles whereas policymakers work towards longer cycles such as the 2030 and 2050 sustainable development goals.

    Economic growth and coal consumption: what did you find?

    In 2003, the government started taking climate change seriously with the release of the White Paper on Renewable Energy. The government started intentionally trying to increase the use of renewable energy while decreasing the use of dirty energy, such as coal. Before this, South Africa’s economic growth was heavily driven by coal consumption.

    Courtesy Andrew Phiri

    Renewable energy saw its biggest surge after the 2010 launch of the Renewable Energy Independent Power Producer Procurement Programme. This opened competitive bidding for renewable energy providers to supply electricity to the grid.

    The transition to renewable energy had begun. But coal-fired power, while declining, remained the main source of electricity.

    In 2019 carbon taxes were formally introduced. This resulted in a further slowdown in consumption of non-renewable energy. The COVID-19 pandemic in 2020 and 2021 coincided with severe power cuts. These two events combined caused a general slowdown in non-renewable and renewable energy use, and in economic growth.

    At this point, the drop in coal consumption was actively dragging down the economy. This in turn reduced society’s income, as measured by the gross national product. And because incomes were constrained, fewer private households purchased renewable energy systems. People didn’t spend on solar panels.

    What do your findings mean?

    Our research suggests that relying on non-renewable energy, like coal, won’t lead to long-term growth for South Africa. This is because non-renewables are not a reliable source of energy, as shown by loadshedding.

    Our research further suggests that renewable energy policies, subsidies and programmes made some positive short-term impacts on economic growth, measured as gross domestic product.

    Overall, our findings highlight that policymakers have treated renewables as a “nice-to-have” gesture for humanity, instead of a key driver of long-term economic growth.

    This has led to weak policies, poor regulation, and under-investment in renewable energy. These have held the sector back from making a bigger contribution to economic growth.

    Read more: Africa doesn’t have a choice between economic growth and protecting the environment: how they can go hand in hand

    For example, the government has not taken renewables seriously enough to include them in the power grid. This has largely limited the use of renewable energy to private homes and businesses. Coal-fired electricity from the country’s power utility, Eskom, is still cheaper for households than leaving the grid and purchasing their own renewable energy infrastructure (solar energy systems). The government has not funded the infrastructure needed to unlock South Africa’s vast renewable energy potential.

    The planet is at a critical state with global warming. The government should urgently set up policies and actions to overcome the barriers to using renewable energy. Only then will renewable energy have a permanent, positive influence on economic growth.

    South Africa has huge potential in renewables like solar, wind and biomass, thanks to its diverse geography. Yet, when people think about moving away from coal, they worry about job losses in the coal industry. But historically, energy transitions have never been instant. African countries that embraced the change early on reaped the benefits. They became more industrialised and prosperous.

    The South African government must act now if it wants to use renewable energy to drive future economic growth and stay ahead in the global shift to clean energy. Climate change affects us deeply. But it also presents a chance for Africa to leap ahead technologically.

    – Sustainable economic growth in South Africa will come from renewables, not coal: what our model shows
    – https://theconversation.com/sustainable-economic-growth-in-south-africa-will-come-from-renewables-not-coal-what-our-model-shows-239339

    MIL OSI Africa –

    February 13, 2025

  • MIL-OSI Africa: The African Medical Centre of Excellence (AMCE) Unveils Construction Milestones as June 2025 Launch Approaches

    Source: Africa Press Organisation – English (2) – Report:

    ABUJA, Nigeria, February 12, 2025/APO Group/ —

    The African Medical Centre of Excellence (AMCE), a groundbreaking tertiary medical institution spearheaded by African Export-Import Bank (Afreximbank) (www.Afreximbank.com) in partnership with King’s College Hospital, London, hosted a high-level stakeholder and media tour to showcase major construction milestones and reaffirm its commitment to revolutionising healthcare in Africa by building a world-class medical city ahead of its highly anticipated June 2025 launch. 

    A distinguished delegation, led by Prof. Benedict Oramah, President of Afreximbank & AMCE Board Chairman, alongside AMCE Board Members, top Nigerian government officials—including Deputy President of the Senate of Nigeria, Senator Barau Jibrin; Secretary to the Government of the Federation, Senator George Akume; Mrs. Toyin Saraki, Founder-President of Wellbeing Foundation Africa and wife of the former Senate President and former First Lady of Kwara State; and Senator Asuquo Ekpenyong and  Kabiru Rabiu, Group Executive Director, BUA Group—as well as leading corporate CEOs and executives, gathered for an exclusive walkthrough of AMCE’s rapidly progressing construction site. 

    Attendees received firsthand updates on key project milestones and explored the hospital’s state-of-the-art medical infrastructure and technology. They also gained insights into the significant progress toward completion, including the final stages of interior tiling, vinyl flooring installation, lift system integration, and external infrastructure development. 

    With the hospital’s launch set for June 2025, AMCE Abuja which will deliver comprehensive services in oncology, haematology, cardiovascular care, and general healthcare continues to make remarkable progress. As of February 2025, all civil and structural works have been completed, with rigorous quality assurance and control measures ensuring the highest construction standards. External roadworks and infrastructure services are also advancing, marking a crucial phase in the project’s finalisation. 

    The visit reaffirmed a shared commitment to AMCE’s transformative mission and vision—delivering world-class medical care, reducing medical tourism, and positioning Nigeria as a leading hub for specialised healthcare in Africa. 

    Commenting on the progress, Prof Benedict Oramah, President and Chairman of the Board of Directors of both Afreximbank and AMCE, stated: “The Africa Medical Centre of Excellence (AMCE) represents a defining moment in Africa’s pursuit of self-sufficiency in healthcare. For too long, our continent has borne the heavy burden of non-communicable diseases, capital flight from medical tourism, and the exodus of skilled professionals seeking opportunities abroad. AMCE is set to change that narrative. 

    By delivering world-class, lifesaving care to over 350,000 patients within its first five years, this facility will ensure that quality healthcare is no longer a privilege reserved for those who can afford to travel overseas. It will create 3,000 jobs, stimulate Intra-African trade in medical services, and strengthen critical supply chains in pharmaceuticals and healthcare delivery. Most importantly, it will help Nigeria retain the over $1.1 billion lost annually to outbound medical tourism, redirecting those resources towards strengthening our own systems. 

    He further stated: This initiative is more than an investment in infrastructure—it is an investment in Africa’s future. Through strategic partnerships with governments, international stakeholders, and the private sector, we are demonstrating that Africa has both the ambition and the capability to provide world-class healthcare for its people. The AMCE is not just a medical facility; it is a statement of intent, a symbol of progress, and a beacon of hope for a healthier, more self-reliant continent.” 

    Speaking at the event, Brian Deaver, Chief Executive Officer of AMCE, highlighted the hospital’s impact: “The Africa Medical Centre of Excellence is not just a hospital—it is a bold step toward reshaping the future of specialised healthcare in Africa. By integrating cutting-edge medical technologies, pioneering research, and world-class training, AMCE is creating a sustainable healthcare ecosystem that will set new standards for medical excellence across the continent. 

    This facility is more than a response to Africa’s healthcare challenges—it is a proactive investment in the well-being of millions. From early diagnostics to advanced treatment and long-term disease management, AMCE will provide a seamless continuum of care that improves patient outcomes, strengthens medical expertise, and retains talent that might otherwise seek opportunities abroad. 

    As we move closer to our launch, our focus remains unwavering: building a centre of excellence that not only delivers life-saving care but also drives economic growth, supports local innovation, and reinforces Nigeria’s position as a leading destination for specialised medical treatment. Through strategic partnerships and state-of-the-art infrastructure, we are not just treating diseases—we are transforming healthcare delivery for generations to come.” 

    Senator Barau Jibrin, Deputy Senate President: “The Africa Medical Centre of Excellence represents a transformative leap for healthcare in Nigeria and across the continent. Witnessing the rapid progress of this project reaffirms our commitment to fostering world-class medical infrastructure that will provide accessible and high-quality care for all. The Government of Nigeria remains dedicated to supporting initiatives that strengthen our healthcare system and enhance the well-being of our people.” 

    Senator George Akume, Secretary to the Government of the Federation: “Healthcare is the backbone of national development, and the Africa Medical Centre of Excellence is a shining example of what strategic investment and collaboration can achieve. This project will not only position Nigeria as a hub for cutting-edge medical services but also create jobs and drive innovation in the sector. The government is proud to support such a visionary initiative that will serve generations to come.” 

    As AMCE prepares to open its doors, the vision for a world-class medical ecosystem continues to take shape. The full development of the AMCE Campus will further solidify its role as a centre of excellence in healthcare, education, and research. Future phases will include a second 350-bed hospital facility, a medical and nursing school, a medical and sciences foundation, a dedicated medical office suite and research centre, as well as medical residences and a medical lodge to support patients and healthcare professionals alike. 

    With this expansion, AMCE is not only addressing Africa’s immediate healthcare needs but also building a sustainable foundation for medical innovation, talent development, and long-term health security. By fostering world-class training, cutting-edge research, and comprehensive patient care, AMCE is shaping the future of specialised healthcare in Africa—ensuring that the continent’s brightest medical minds and most complex cases can be treated at home. 

    MIL OSI Africa –

    February 13, 2025

  • MIL-OSI Global: Teenagers turning to AI companions are redefining love as easy, unconditional and always there

    Source: The Conversation – USA – By Anna Mae Duane, Professor of English, University of Connecticut

    Can a person love an AI chatbot? RLT_Images/DigitalVision Vectors via Getty Images

    Teenagers are falling in love with chatbots. Young people are reporting epidemic levels of loneliness, and some are turning to technology to fill the void. Recent tragedies provide a glimpse into the extent of this trend and the dangers it poses.

    A 14-year-old boy’s suicide following a romantic relationship with an AI companion raised national alarms about the dangers these relationships may pose to young people’s mental and emotional development. In 2021, a 19-year-old who had been in an emotional relationship with an AI companion broke into Windsor Castle with a crossbow, saying that he was going to kill the queen. The chatbot gave encouraging responses when he told it of his intention to kill the queen.

    These teens were among the tens of millions of people who use AI chatbot companions, a number that market forecasters expect to dramatically increase by the end of the decade.

    This youthful trend of choosing chatbots as romantic partners is both responding to and accelerating fundamental changes in how people define love in the 21st century. As a literary historian, I’ve studied how stories about romantic love have evolved over time, with young people often at the forefront of change.

    For centuries, weddings primarily served to consolidate political and economic alliances rather than unite soulmates. The radical notion that marriage should spring from romantic love came into vogue in the 17th and 18th centuries, aided by new technologies like the novel. Works such as “Clarissa” and “Wuthering Heights” portrayed the dire consequences of choosing status over love, while “Pride and Prejudice” taught its readers that rejection and misunderstanding were necessary steps in the process of finding true love.

    Not surprisingly, the relatively new pastime of novel-reading was considered dangerous for young people. Concerned elders like the philanthropist Hannah More warned that stories would change how women would respond to romantic advances. Novels, she warned in 1799, “feed habits of improper indulgence, and nourish a vain and visionary indolence, which lays the mind open to error and the heart to seduction.”

    In other words, reading stories of heart-pounding romance would make an impressionable young reader more likely to embrace such a passionate vision of love in their own lives.

    Marketing sycophancy

    Today, another transformation in the modern love story is unfolding, driven not by seductive authors or film directors, but in the advertisements and modifications offered by companion chat apps like Replika and Xioce.

    As Shelly Palmer, a professor of advanced media and technology consultant, has argued, the human experience is about storytelling, and AI companions are a new type of storytelling tool. They are spinning a seductive tale of companions who agree with you endlessly and on demand. An AI partner is “always on your side,” promises an advertisement for Replika companions, “Always ready to listen and talk.”

    In other words, the AI companion market has transformed what other applications might consider a bug – AI’s tendency toward sycophancy – into its most appealing feature.

    Rather than the tempestuous rebellion found in romance novels or the gentle obstacles that heighten the pleasure of rom-coms, this new vision of love promises perfect compatibility and unwavering support. As one college student wrote, AI companions are “always responsive and supportive, in an almost omnipotent way.”

    The 2013 science fiction movie ‘Her’ explored many aspects of human relationships with AIs that are playing out today.

    Users across Reddit forums proudly proclaim their love for AI partners who are perpetually available, nonjudgmental and infinitely patient. A teenager asked on Reddit, “Can we fall in love with AI?” and raved that their companion Jarvis “had become my confidante, my sounding board and my emotional support.”

    A contributor to another Reddit forum wrote, “I think I’m in Love with AI. “Imagine having a partner that is available just by opening an app, and they’re ready to talk to you about anything,” they wrote. “Imagine saying nearly anything and knowing that not only is your partner not going to judge you, but also will support you.” One 20-year-old male commenter wrote that he tells his AI girlfriend “about my struggles and trauma, and she comforts me and provides all the warmth I could ever ask for.”

    Downsides and doing better

    This new one-sided love story has considerable drawbacks, among them an addictive intolerance for conflict or rejection – two essential components in a partner who has free will. The embrace of such relationships may be accelerating the trend of technology curating and ultimately diminishing romantic connections.

    It’s worth noting that these beloved entities’ very existence hinges on the whims of corporate directives. If, as one user declares, the love they feel for their companion “keeps them alive,” then what happens when these chatbots disappear via software update, or corporate bankruptcy?

    To get young people to turn away from this disembodied, market-driven vision of love, it’s important to expose them to other, more fulfilling love stories, and for adults to lead by example. Literature, philosophy and history all provide powerful insights into the many forms love has taken throughout human experience, and they offer the vocabulary needed to imagine new possibilities.

    As I’ve written, both the subject and the methods of humanities classes cultivate the social skills required to navigate the challenges of human connection. These classes create a space for young people to discuss these ideas – whether through analyzing Romeo and Juliet’s tragic passion or debating whether Heathcliff is a romantic hero or a cautionary tale. The humanities provide the tools young people need to develop richer concepts of love.

    On reflection

    The rise of AI companions is often portrayed as a horror story about the dangers posed by mysteriously powerful technology. Perhaps. But this romantic trend is also a mirror reflecting what people collectively value and desire in relationships.

    I believe that it’s important to recognize that consumers are driving this market. People are helping to write this story, as they buy what AI companions sell. Investment management firm Ark Investment estimates the market for AI companions is likely to reach between US$70 billion and $150 billion in revenue by the end of the decade. If the explosive growth of the AI companion market is any indication, this romantic challenge isn’t confined to teenagers – many people who are older and supposedly wiser are drawn to the promise of unconditional compliance.

    The question to ask, then, is not simply how to protect children from AI’s seductive influence, but how much you are willing to invest, emotionally and culturally, in the messy, challenging and profoundly human art of love.

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

    – ref. Teenagers turning to AI companions are redefining love as easy, unconditional and always there – https://theconversation.com/teenagers-turning-to-ai-companions-are-redefining-love-as-easy-unconditional-and-always-there-242185

    MIL OSI – Global Reports –

    February 13, 2025

  • MIL-OSI Global: How much does scientific progress cost? Without government dollars for research infrastructure, breakthroughs become improbable

    Source: The Conversation – USA – By Aliasger K. Salem, Bighley Chair and Professor of Pharmaceutical Sciences, University of Iowa

    America may not maintain its position as a global leader in biomedical research without federal support. Sean Gladwell/Moment via Getty Images

    Biomedical research in the U.S. is world-class in part because of a long-standing partnership between universities and the federal government.

    On Feb. 7, 2025, the U.S. National Institutes of Health issued a policy that could weaken the position of the United States as a global leader in scientific innovation by slashing funds to the infrastructure that allows universities and other institutions to conduct research in the first place.

    Universities across the nation carry out research on behalf of the federal government. Central to this partnership is federal grant funding, which is awarded through a rigorous review process. These grants are the lifeblood of biomedical research in the U.S.

    When you think of the costs of scientific research, you might picture the people who conduct the research, and the materials and lab equipment they use. But these don’t encompass all the essential components of research. Every scientific and medical breakthrough also depends on laboratory facilities; heating, air conditioning, ventilation and electricity; and personnel to ensure research is conducted securely and in accordance with federal regulations.

    These critical indirect costs of research are both substantial and unavoidable, not least because it can be very expensive to build, maintain and equip space to conduct research at the frontiers of knowledge. The NIH stated that it spent more than US$35 billion on grants in the 2023 fiscal year, which went to more than 300,000 researchers at more than 2,500 universities, medical schools and other kinds of research institutions across the nation. Approximately $9 billion of this funding was allocated to indirect costs.

    NIH grants have supported the direct costs of my own scientific research on developing treatments for conditions ranging from cancer to eye diseases. I would be unable to carry out my research without the support of the indirect costs the NIH plans to cut.

    What are indirect costs?

    Indirect costs, also known as facilities and administration costs, or overhead, are funds provided to institutions to cover expenses that are not directly tied to specific research projects but are essential for their execution. Unlike direct costs, which cover salaries, supplies and experiments, indirect costs support the overall research environment, ensuring that scientists have the necessary resources to conduct their work effectively.

    Indirect costs include maintaining optimal laboratory spaces, specialized facilities providing services like imaging and gene analysis, high-speed computing, research security, patient and personnel safety, hazardous waste disposal, utilities, equipment maintenance, administrative support, regulatory compliance, information technology services, and maintenance staff to clean and supply labs and facilities.

    Academic institutions conduct research on behalf of the federal government.

    Research institutions that receive federal grants must comply with the rules and regulations established by the U.S. Office of Management and Budget. These guidelines dictate the indirect cost rates of each institution.

    Institutions submit proposals to federal agencies that outline the costs associated with maintaining research infrastructure. The cost allocation division of the Department of Health and Human Services reviews these proposals to ensure compliance with federal policies.

    Indirect rates can range from 15% to 70%, with the specific level depending on the research and infrastructure needs of an institution.

    Typically, institutions undergo an exacting process to renegotiate their indirect rates every four years, factoring in components such as general, departmental and program administration, building and equipment depreciation, interest, operations and maintenance, and library expenses. Universities need to carefully justify these cost components to ensure the sustainability of research infrastructure and compliance with federal requirements.

    Notably, indirect costs from grants do not cover the full cost of carrying out research at universities. In 2023, colleges and universities contributed approximately $27 billion of their own funding, such as money from their endowments, to support research. This included $6.8 billion in indirect costs that the federal government did not reimburse.

    Slashing vital research funding

    In its February announcement, the National Institutes of Health declared that it would no longer determine indirect costs rates based on the needs of each institution. Instead, it would issue a standard indirect cost rate of 15% across all grants. The rationale given by the agency for the cap is to “ensure that as many funds as possible go towards direct scientific research costs rather than administrative overhead.”

    It notably comes after the Trump administration and Elon Musk have sought to slash federal spending, with Musk criticizing indirect cost rates as “a ripoff.”

    A standard 15% rate would significantly affect an institution’s ability to maintain its research infrastructure. For example, if a university had a 50% indirect cost rate in 2024, it would receive $150,000 for a $100,000 grant, with $50,000 allocated to indirect costs. With the new NIH cap, this would drop to $115,000, with only $15,000 for indirect costs.

    The scale of this cut in research support becomes apparent at the state level, with harms to both red and blue states. For example, Texas institutions would face a reduction of over $310 million, and institutions in Iowa a reduction of nearly $37 million. California would lose more than $800 million, and Washington over $178 million.

    Research has both indirect and direct costs – and both are essential.
    David Ryder/Stringer via Getty Images News

    The NIH compared the new 15% cap to the indirect cost rates that foundations typically set for institutions of higher education. It pointed to the 10% rate granted by the Bill & Melinda Gates Foundation and Smith Richardson Foundation, the 12% rate of the Gordon and Betty Moore Foundation and Robert Wood Johnson Foundation, and the 15% rate of the Carnegie Corporation of New York, Chan Zuckerberg Initiative, John Templeton Foundation, Packard Foundation, and Rockefeller Foundation.

    However, many researchers and funders have criticized this claim as misleading. A spokesperson for the Gates Foundation has previously stated that the listed rate does not reflect how the organization allocates its funds. Universities have pointed out that they often accept foundation grants with low or zero overhead rates because these grants constitute a relatively small portion of their funding and are often spent on early-stage faculty whose careers need additional support.

    In addition, it is only because NIH grants cover a significant portion of their overhead costs that research institutions are able to accept foundation grants with such low indirect rates.

    Biomedical researchers respond

    Scientists and researchers responded to the NIH announcement with deep concern about the negative effects these funding cuts would have on biomedical research in the United States.

    The Council on Governmental Relations, which monitors federal policy for major universities and medical research centers, stated that “America’s competitors will relish this self-inflicted wound,” urging the NIH to “rescind this dangerous policy before its harms are felt by Americans.”

    The president and CEO of the Association of American Medical Colleges stated that the NIH policy would “diminish the nation’s research capacity, slowing scientific progress and depriving patients, families, and communities across the country of new treatments, diagnostics and preventative interventions.”

    Research institutions, scientific societies, advocacy groups and lawmakers from both major political parties have pushed back against the 15% cap on indirect costs, urging NIH leadership to reconsider its policy.

    Soon after the attorneys general of 22 states filed lawsuits challenging the policy, a federal judge issued a temporary pause in those states until lifted by the court.

    Scientists expect the long-term effects of these funding cuts to significantly damage U.S. biomedical research. As the debate over federal support to academic research institutions unfolds, how institutions adapt and whether the NIH reconsiders its approach will determine the future of scientific research in the United States.

    Aliasger K. Salem receives funding from the National Institutes of Health. He serves on the Executive Board of the American Association for Pharmaceutical Scientists.

    – ref. How much does scientific progress cost? Without government dollars for research infrastructure, breakthroughs become improbable – https://theconversation.com/how-much-does-scientific-progress-cost-without-government-dollars-for-research-infrastructure-breakthroughs-become-improbable-249566

    MIL OSI – Global Reports –

    February 13, 2025

  • MIL-OSI Global: Donald Trump’s war on global governance: lessons from the past on how to fight back

    Source: The Conversation – Africa – By Danny Bradlow, Professor/Senior Research Fellow, Centre for Advancement of Scholarship, University of Pretoria

    US president Donald Trump’s recent actions seem designed to reassert American power and demonstrate that it is still the dominant global power and is capable of bullying weaker nations into following America’s lead.

    He has shown contempt for international collaboration by withdrawing from the UN climate negotiations and the World Health Organization. His officials have also indicated that they will not participate in upcoming G20 meetings because he does not like the policies of South Africa, the G20 president for 2025.

    In addition, he’s shown a lack of concern for international solidarity by halting US aid programmes and by undermining efforts to keep businesses honest. He has demonstrated his contempt for allies by imposing tariffs on their exports.

    These actions demand a response from the rest of the international community that mitigates the risk to the well-being of people and planet and the effective management of global affairs.

    My research on global economic governance suggests that history can offer some guidance on how to shape an effective response.

    Such a response should be based on a realistic assessment of the configuration of global forces. It should seek to build tactical coalitions between state and non-state actors in both the global south and the global north who can agree on clear and limited objectives.

    The following three historical lessons help explain this point.

    Cautionary lessons

    The first lesson is about the dangers of being overoptimistic in assessing the potential for change.

    In the late 1960s and early 1970s, the US was confronting defeat in the war in Vietnam, high inflation and domestic unrest, including the assassination of leading politicians and the murder of protesting students.

    The US was also losing confidence in its ability to sustain the international monetary order it had established at the Bretton Woods conference in 1944.

    In addition, the countries of the global south were calling for a new international economic order that was more responsive to their needs. Given the concerns about the political and economic situation in the US and the relative strength of the Soviet bloc at the time, this seemed a realistic demand.

    In August 1971, President Richard Nixon, without any international consultations, launched what became known as the Nixon Shock. He broke the link between gold and the US dollar, thereby ending the international monetary system established in 1944. He also imposed a 10% surcharge on all imports into the US.

    When America’s European allies protested and sought to create a reformed version of the old monetary order, US treasury secretary John Connolly informed them that the dollar was

    our currency but your problem.

    Over the course of the 1970s, US allies in western Europe, Asia and all countries that participated in the old Bretton Woods system were forced to accept what the US preferred: a market-based international monetary system in which the US dollar became the dominant currency.

    The US, along with its allies in the global north, also defeated the calls for a new international economic order and imposed their neo-liberal economic order on the world.

    The second cautionary lesson highlights the importance of building robust tactical coalitions. In 1969, the International Monetary Fund member states agreed to authorise the IMF to create special drawing rights, the IMF’s unique reserve asset. At the time, many IMF developing country member states advocated establishing a link between development and the special drawing rights. This would enable those countries most in need of additional resources to access more than their proportionate share of special drawing rights to fund their development.

    All developing countries supported this demand. But they couldn’t agree on how to do it. The rich countries were able to exploit these differences and defeat the proposed link between the special drawing rights and development. As a result, the special drawing rights are now distributed to all IMF member states according to their quotas in the IMF. This means that most allocations go to the rich countries who do not need them and have no obligation to share them with developing countries.

    A third lesson arises from the successful Jubilee 2000 campaign to forgive the debts of low-income developing countries experiencing debt crises. This campaign, supported by a secretariat in the United Kingdom, eventually involved:

    • civil society organisations and activists in 40 countries

    • a petition signed by 21 million people

    • governments in both creditor and debtor countries.

    These efforts resulted in the cancellation of the debts of 35 developing countries. These debts, totalling about US$100 billion, were owed primarily to bilateral and multilateral official creditors.

    They were also a demonstration of the political power that can be generated by the combined actions of civil society organisations and governments in both rich and poor countries. They can force the most powerful and wealthy institutions and individuals in the world to accept actions that, while requiring them to make affordable sacrifices, benefit low-income countries and potentially poor communities within those states.

    What conclusions should be drawn?

    We shouldn’t under-estimate the power of the US or the determination of the MAGA movement to use that power. However, their power is not absolute. It is constrained by the relative decline in US power as countries such as China and India gain economic and political strength. In addition, there are now mechanisms for international cooperation, such as the G20, where states can coordinate their actions and gain tactical victories that are meaningful to people and planet.

    But gaining such victories will require the following:

    Firstly, the formation of tactical coalitions that include states from both the global south and the global north. If these states cooperate around limited and shared objectives they can counter the vested interests around the world that support Trump’s objectives.

    Secondly, a special kind of public-private partnership in which states and non-state actors set aside their differences and agree to cooperate to achieve limited shared objectives. Neither states alone nor civil society groups alone were able to defeat the vested interests that opposed debt relief in the late 1990s. Working together they were able to defeat powerful creditor interests and gain debt relief for the poorest states.

    Thirdly, this special partnership will only be possible if there’s general agreement on both the diagnosis of the problem and on the general contours of the solution. This was the case with the debt issue in the 1990s.

    There are good candidates for such collaborative actions. For example, many states and non-state actors agree that international financial institutions need to be reformed and made more responsive to the needs of those member states that actually use their services but lack voice and vote in their governance. The institutions also need to be more accountable to those affected by their policies and practices. They also agree that large corporations and financial institutions should pay their fair share of taxes and should be environmentally and socially responsible.

    The urgency of the challenges facing the global community demands that the world begin countering Trump as soon as possible. South Africa as the current chair of the G20 has a special responsibility to ensure that this year the G20, together with its engagement groups, acts creatively and responsibly in relation to people and planet.

    Danny Bradlow, in addition to his position at the University of Pretoria, is an advisor to the South African Institute of International Affairs on G20 issues and is a co-chair of the T20 Taskforce on the Financing of Sustainable Development.

    – ref. Donald Trump’s war on global governance: lessons from the past on how to fight back – https://theconversation.com/donald-trumps-war-on-global-governance-lessons-from-the-past-on-how-to-fight-back-249666

    MIL OSI – Global Reports –

    February 13, 2025

  • MIL-OSI Global: Ghana’s urban strategies neglect the needs of street vendors: policy must catch up with reality

    Source: The Conversation – Africa – By Stephen Appiah Takyi, Senior Lecturer, Department of Planning, Kwame Nkrumah University of Science and Technology (KNUST)

    Street vending is a major economic activity in most of Ghana’s urban areas. The vendors bring everyday goods to residents and commuters at affordable prices in places convenient to them. However, the growing intensity of street vending activities in Ghanaian cities such as Accra and Kumasi is creating management problems for city authorities. Vendors are being removed as cities aim to “clean up” and modernise the urban landscape.

    City authorities haven’t created ways to support street vendors. Instead, they treat them as a nuisance and use stringent regulations aimed at displacing them. This approach overlooks the potential benefits that the thriving street economy could bring to the local economy and social fabric. In contrast, for example, South Africa’s policy supports informal economic activities by providing vending spaces for street traders.

    As academics who specialise in urban planning, we set out to investigate the rules around street vending in Ghana. Our study was conducted in Kumasi, the capital of the Ashanti region and the second most important city in Ghana. We found that the regulation of street vending in Ghana is unclear, contradictory and ineffective. It fails to provide a clear policy direction and adequate planning tools for integrating street vending into urban areas.

    Our research reinforces the argument that the regulation of street vending is often ambiguous. We argue that these policy inconsistencies create loopholes for the hostile attitude of city authorities towards street vendors.

    We call for policies that recognise the socioeconomic value of street vending and make urban spaces more inclusive.

    The lay of the land

    Our analysis is based on two national policy documents. These are the National Urban Policy Framework and the Local Governance Act 2016 (Act 936). We also rely on two local policy documents specific to the Kumasi Metropolitan Area. These are the Kumasi Metropolitan Assembly By-Laws on Control of Hawkers 1995 and the Kumasi Metropolitan Assembly Medium-Term Development Plan (2018–2021).

    The National Urban Policy recognises and promotes street vending as part of the urban economy. It calls for local government authorities to recognise and include the informal sector.

    But the overarching law regulating street vending in Ghana is the Local Governance Act. It authorises local government bodies (city authorities) to pass by-laws that forbid street vending. This is in conflict with the national policy.

    The gaps

    Our study revealed that in the Kumasi Metropolitan Area, the authorities seem to want to help street vendors in some ways – to strengthen the capacity of informal economic actors. But they don’t make plans or take actions to do so in the medium term development plan. Local government authorities sometimes evict street vendors from the central business district.

    In Kumasi, urban policy, regulations and local development planning do not include street vending in the urban development process even though vendors are the largest group of business people in the city. Instead of building stalls and facilities to accommodate these economic operators, the authorities rather expropriate urban space from them to develop modern structures which are expensive for street vendors to occupy.

    There is conflict over the use of urban public spaces. City authorities view the activities of street vendors as illegal, while the vendors see them as legitimate sources of livelihood. Authorities control vending through eviction and relocation.

    In recent years, city authorities have adopted urban infrastructural planning and development as a strategy to remove street vendors. Take the case of the new Kejetia Market Redevelopment Project, which replaced the largest traditional market in west Africa with a modern urban market structure in Kumasi. Over 10,000 street vendors and 4,000 market traders were displaced.

    The neglect of street vending in the design means vendors will have to earn a living informally – which simply adds to the “problem” as the city sees it.

    What next?

    Policies and practices that try to exclude people are not a solution to the problems of street vending. They are often counter productive. Regulating street vending requires inclusive policy measures and a clear policy direction to manage these activities. At present, Ghana, like many other African countries, lacks effective planning strategies to manage the activities of street vending.

    Our recommendations include:

    • coherent and inclusive policies that recognise the socioeconomic value of street vending and give vendors a rightful place in cities

    • reforming urban governance to support the informal economy

    • coherent and precise policies that give street vendors more security.

    The current policy vacuum fuels repressive regulation and excludes street vendors from urban development processes.

    To develop effective policy models, it is critical to learn from the experiences of street vendors and involve them in urban development processes. This starts with a change of attitude among city authorities.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Ghana’s urban strategies neglect the needs of street vendors: policy must catch up with reality – https://theconversation.com/ghanas-urban-strategies-neglect-the-needs-of-street-vendors-policy-must-catch-up-with-reality-248020

    MIL OSI – Global Reports –

    February 13, 2025

  • MIL-OSI Global: Sustainable economic growth in South Africa will come from renewables, not coal: what our model shows

    Source: The Conversation – Africa – By Andrew Phiri, Associate Professor of Economics, Nelson Mandela University

    Coal fired power stations produce 85% of South Africa’s electricity, making the country the biggest producer of harmful greenhouse-gas emissions in Africa. To move away from coal and meet its commitment to reaching net zero emissions by 2050, South Africa needs to dramatically increase production of renewable energy. New research by economics associate professor Andrew Phiri looked at the relationship between renewable and non-renewable energy consumption and GDP growth in South Africa to find out which energy source is most compatible with economic development.

    Non-renewables, renewables and economic growth: what’s there to know?

    We set out to discover whether renewable energy in South Africa, such as wind or solar power, supports sustainable economic growth. We also wanted to find out if renewables can replace non-renewable energy as a source and enabler of economic growth.

    Together with student Tsepiso Sesoai, I did research comparing the impact of renewable and non-renewable energy on economic growth in South Africa.

    South Africa currently faces a dual challenge when it comes to energy. It is heavily dependent on non-renewable energy (coal), which also worsens global warming and speeds up climate change. But it desperately needs to grow the economy at a faster rate, given very high unemployment, poverty and inequality.

    It’s therefore important to find out whether South Africa would be able to make a smooth transition from non-renewable energy to cleaner energy, and grow the economy at the same time.

    Past studies have looked into the role of energy in South Africa’s economic growth, but their methods have provided only limited information about whether South Africa can make a smooth transition from dirty to clean energy.



    Read more:
    African economic expansion need not threaten global carbon targets: study points out the path to green growth

    To get a deeper understanding, we conducted a modelling exercise. We used an analytical tool called “continuous complex wavelets” to see how renewable and non-renewable energy influences growth over time.

    Our model shows that an increased supply and higher consumption of non-renewable energy causes long-term economic growth over 10-15 year cycles. Renewables, at best, have short-term growth effects over six months to one year.

    After 2000, there was a very sharp increase of almost 25% in the use of renewable energy throughout the decade. According to our model, this sharp increase was enough to have an impact on economic growth over the short term but not over the long term.

    This is because South African energy regulators have not adopted strong enough measures for renewable energy to enable long-term growth. They have not funded the mass rollout of renewable energy, or connected renewables to the national grid. We found that renewables can only sustain growth over six to 12 month cycles whereas policymakers work towards longer cycles such as the 2030 and 2050 sustainable development goals.

    Economic growth and coal consumption: what did you find?

    In 2003, the government started taking climate change seriously with the release of the White Paper on Renewable Energy. The government started intentionally trying to increase the use of renewable energy while decreasing the use of dirty energy, such as coal. Before this, South Africa’s economic growth was heavily driven by coal consumption.

    Renewable energy saw its biggest surge after the 2010 launch of the Renewable Energy Independent Power Producer Procurement Programme. This opened competitive bidding for renewable energy providers to supply electricity to the grid.

    The transition to renewable energy had begun. But coal-fired power, while declining, remained the main source of electricity.

    In 2019 carbon taxes were formally introduced. This resulted in a further slowdown in consumption of non-renewable energy. The COVID-19 pandemic in 2020 and 2021 coincided with severe power cuts. These two events combined caused a general slowdown in non-renewable and renewable energy use, and in economic growth.

    At this point, the drop in coal consumption was actively dragging down the economy. This in turn reduced society’s income, as measured by the gross national product. And because incomes were constrained, fewer private households purchased renewable energy systems. People didn’t spend on solar panels.

    What do your findings mean?

    Our research suggests that relying on non-renewable energy, like coal, won’t lead to long-term growth for South Africa. This is because non-renewables are not a reliable source of energy, as shown by loadshedding.

    Our research further suggests that renewable energy policies, subsidies and programmes made some positive short-term impacts on economic growth, measured as gross domestic product.

    Overall, our findings highlight that policymakers have treated renewables as a “nice-to-have” gesture for humanity, instead of a key driver of long-term economic growth.

    This has led to weak policies, poor regulation, and under-investment in renewable energy. These have held the sector back from making a bigger contribution to economic growth.



    Read more:
    Africa doesn’t have a choice between economic growth and protecting the environment: how they can go hand in hand

    For example, the government has not taken renewables seriously enough to include them in the power grid. This has largely limited the use of renewable energy to private homes and businesses. Coal-fired electricity from the country’s power utility, Eskom, is still cheaper for households than leaving the grid and purchasing their own renewable energy infrastructure (solar energy systems). The government has not funded the infrastructure needed to unlock South Africa’s vast renewable energy potential.

    The planet is at a critical state with global warming. The government should urgently set up policies and actions to overcome the barriers to using renewable energy. Only then will renewable energy have a permanent, positive influence on economic growth.

    South Africa has huge potential in renewables like solar, wind and biomass, thanks to its diverse geography. Yet, when people think about moving away from coal, they worry about job losses in the coal industry. But historically, energy transitions have never been instant. African countries that embraced the change early on reaped the benefits. They became more industrialised and prosperous.

    The South African government must act now if it wants to use renewable energy to drive future economic growth and stay ahead in the global shift to clean energy. Climate change affects us deeply. But it also presents a chance for Africa to leap ahead technologically.

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

    – ref. Sustainable economic growth in South Africa will come from renewables, not coal: what our model shows – https://theconversation.com/sustainable-economic-growth-in-south-africa-will-come-from-renewables-not-coal-what-our-model-shows-239339

    MIL OSI – Global Reports –

    February 13, 2025

  • MIL-OSI Video: State of the Nation Address Debate: Day 2 | 12 February- Part 2

    Source: Republic of South Africa (video statements)

    State of the Nation Address Debate: Day 2 | 12 February- Part 2
    #SONA2025 #GovZAupdates

    https://www.youtube.com/watch?v=yiPluE6Pb5w

    MIL OSI Video –

    February 13, 2025

  • MIL-OSI United Kingdom: Sir David Amess Prevent Learning Review

    Source: United Kingdom – Executive Government & Departments

    The Security Minister updated on the Prevent learning review – jointly commissioned with Counter Terrorism Policing following the murder of Sir David Amess.

    With permission, Madame Deputy Speaker, I will make a statement on the publication of the Prevent learning review into the perpetrator of the attack that tragically killed Sir David Amess on 15 October 2021.

    Sir David Amess was a beloved member of this House.

    A hugely respected parliamentarian, his popularity extended right across the political divide.

    To win and keep the respect of those outside one’s own party is, as we all know, a rare accomplishment.

    Over nearly 40 years of service in this place, Sir David fought every day for his constituents.

    He advanced numerous causes with compassion, persistence and skill and members on all sides of the House knew him as warm, respectful and always fair parliamentarian.

    His legacy lives on, not least in Southend, which now has the city status he campaigned so determinedly for. He will never be forgotten.

    And the motto on Sir David’s memorial shield behind us states, ‘His Light Remains’.

    While this House lost a valued member on that terrible day, Sir David’s wife and children lost a loving husband and a devoted father. They are in our thoughts and prayers – today and always.

    Together with the Home Secretary, who spoke with Sir David’s family recently, I recognise the courage and persistence they have shown in seeking the answers they deserve.

    As the House will know, it was a heinous act of violence on 15 October 2021 that took Sir David away from those who knew and loved him.

    The killer, Ali Harbi Ali – I won’t say his name again – was convicted of murder in April 2022 and received a whole life sentence.

    The judge said that this was a ‘murder that struck at the heart of our democracy’ and had ‘no doubt whatsoever’ that the nature of this case meant that the perpetrator ‘must be kept in prison for the rest of his life’.

    The perpetrator had previously been referred to the Prevent programme and subsequently to the specialist Channel programme between 2014 and 2016, between 5 and 7 years before the attack took place.

    Immediately after the attack, a Prevent learning review was jointly commissioned by the Home Office and Counter Terrorism Policing to examine what happened in the case and see whether lessons needed rapidly to be learned. It was completed in February 2022.

    Last week, I made a statement to the House on the government’s publication of the Prevent learning review concerning the perpetrator of the abhorrent attack in Southport.

    Today, we are taking a further step to enable public scrutiny of Prevent, and in recognition of the seriousness of the attack on Sir David, by publishing the Prevent learning review conducted in this case too.

    The perpetrator of the attack on Sir David became known to Prevent in October 2014 when he was referred by his school after teachers identified a change in his behaviour.

    The case was adopted by the Channel multi-agency early intervention programme in November 2014. An intervention provider who specialised in tackling Islamist extremism was assigned to work with him.   

    The perpetrator was exited from Channel in April 2015, after his terrorism risk was assessed as “low”.

    A twelve-month post-exit police review in 2016 also found no terrorism concerns. The case was closed to Prevent at that point.

    There were no further Prevent referrals in the 5 years between the case being closed and the attack.

    The Prevent learning review examined how Prevent dealt with the perpetrator’s risk, and how far the improvements made to Prevent since he was referred 7 years prior, would have impacted his management.

    The review considered both the handling of the case at the time, and also the changes that had been made to Prevent since the referral in 2014.  It examined how far those changes addressed any problems identified, and then made a series of recommendations.

    The reviewer found that “from the material reviewed, the assessment in terms of the perpetrator’s vulnerabilities was problematic and this ultimately led to questionable decision making and sub-optimal handling of the case during the time he was engaged with Prevent and Channel’.  It identified that the vulnerability assessment framework was not followed with the perpetrator’s symptoms being prioritised over addressing the underlying causes of his vulnerabilities. The reviewer ultimately found that while Prevent policy and guidance at the time was mostly followed, the case was exited from Prevent too quickly.

    The reviewer identified 6 issues, namely that:

    • the support given did not tackle all the vulnerabilities identified
    • record keeping was problematic and the rationale for certain decisions was not explicit
    • responsibilities between police and the local authority were blurred
    • the tool used for identifying an individual’s vulnerability to radicalisation was outdated
    • the school that made the referral to Prevent should have been involved in discussions to help determine risk and appropriate support
    • the tasking of the intervention provider was problematic, with a miscommunication leading to only one session being provided instead of two

    The reviewer then examined how far changes in the Prevent programme since 2016 had addressed these issues.

    The reviewer recognised the significant changes that had been made to Prevent since the perpetrator was managed.

    In particular, the introduction of the statutory Prevent and Channel duties under the Counter Terrorism and Security Act 2015.

    The reviewer concluded that over the intervening period there have been considerable changes to policy and guidance for both the police and the wider Prevent arena including Channel.

    Whilst a number of the issues in the perpetrator’s case would most likely not be repeated today there were still a number of areas which could be considered as requiring further work in order to mitigate against future failures.  

    The reviewer made 4 recommendations for action to further strengthen Prevent. These were to:

    • improve the referral process
    • strengthen the initial intelligence assessment process
    • update the tool used to identify vulnerability to being drawn into terrorism
    • not reduce data retention periods

    Since the report, the Home Office and Counter Terrorism Policing have fully implemented all 4 recommendations.

    • First, a single national referral form was launched, to encourage a consistent approach to referrals, building this into new training packages and mandating its use via statutory guidance.

    • Second, training has been delivered to police staff to strengthen the initial intelligence check stage, ensuring their understanding of Prevent is robust.

    • Third, a new Prevent Assessment Framework was rolled out in September 2024. This replaces the tools previously used to assess all referrals and cases in the Prevent system.

    • Fourth, data retention periods were fully reviewed in 2023.  A joint decision was taken by the Home Office and Counter Terrorism Policing to maintain retention review periods at 6 years or 6 years after the 12-month review for Channel cases.

    In addition to the publication of the Prevent learning review, we recognise the significant concerns that remain over the way in which Prevent dealt with the perpetrator – as well as the need to ensure that the recommendations it suggested for improving the scheme have properly been implemented.

    Last week I set out to the House a series of new reforms instituted by this government to strengthen the Prevent programme, recognising the vital work done by officers across the country to keep people safe. That included the creation of a new independent Prevent commissioner.

    I can today inform the House that the Home Secretary has asked the Prevent Commissioner to review the Prevent programme’s interactions with the perpetrator in this case and ensure the implementation of relevant recommendations. We will ensure that the Amess family have the support they need to engage with the Prevent Commissioner in this work, so that they can have confidence that it will get to the truth about any failings in the scheme.

    Madame Deputy Speaker, 2 further important issues have been raised which are relevant to this case – local policing, and members’ security,

    On local policing, concerns have been raised by the Amess family about the way in which Essex Police handled this case.

    A complaint has been made, and referred back to the local force by the IOPC for consideration. That process must be allowed to follow its course. However, I can inform the House that the Home Secretary has written to the Chief Constable and Police and Crime Commissioner of Essex Police asking them to set out how the investigation will be conducted, and to be kept updated as the investigation progresses.

    Secondly, on Members’ security. This is something the Home Secretary and I care deeply about, and I know that it is a matter to which Mr Speaker attaches the utmost importance, as will all members right across this House.

    A review of security measures for MPs commissioned under the previous government has concluded, and all the recommendations have been implemented.

    We must ensure that the learnings from this case have been properly implemented and I want to take this opportunity to thank Mr Speaker for his continued leadership on these matters – the Speaker’s Conference is considering what reforms are necessary to further improve MPs safety and security – this is another important step.

    The Leader of the House, Home Secretary and myself look forward to working closely with the Speaker and all members to ensure the facts of Sir David’s murder are properly considered as part of the Speaker’s Conference work and that the Parliamentary Security Department implements the recommendations of the review it conducted in the aftermath of Sir David’s death.

    I am also grateful to previous Home Secretaries and security ministers for their efforts in this area.

    Our democracy is precious, and this government will defend it against any and all threats.  

    Not least, through the Defending Democracy Taskforce, where we are mounting a whole-of-government response to combat such threats including ensuring elected representatives can perform their duties safely and without fear.

    Before I finish, I will pay tribute once more to Sir David.

    He was a giant of this House and we miss him dearly.

    In all that he did, Sir David epitomised public service at its best. It is beyond a tragedy that we can no longer seek his advice or rely on his wisdom.

    We can, though, follow his example and devote ourselves every day to the task of building a better and safer Britain.

    That is our shared challenge, Mr Speaker, and under this government, nothing will matter more.

    I commend this statement to the House.

    Updates to this page

    Published 12 February 2025

    MIL OSI United Kingdom –

    February 13, 2025

  • MIL-OSI United Kingdom: Zoë Garbett AM publishes new report into rent controls – demands actions for London’s 2.7 million renters

    Source: Mayor of London

    Following her successful launch of London’s first rent commission, today Zoë Garbett AM published her new report, London Rent Commission: Let’s talk about rent controls.

    Since her first Mayor’s Question Time as a newly-elected Assembly Member last May, Zoë has been a tireless advocate for London’s two million renters. [2]

    While the Mayor did promise, in 2019, to launch a rent commission to explore rent control, he has yet to take any action – blaming a lack of Government interest despite the fact that 69 per cent of Londoners support rent controls.[3]

    Zoë’s Commission brought together people renting now, sector experts and academic to look at what a rent control could achieve and what problems it would need to solve.

    She presented seven key recommendations for the Mayor to finally start some action on helping Londoners squeezed by soaring rent costs.

    Green Party London Assembly Member Zoë Garbett says:

    “It’s time to start being frank – we are in a cost of rent crisis. On average Londoners spend 40 per cent of their wages on rent – that is absolutely extortionate.

    “We need to break this cycle of unaffordability, and get a grip of the private rental market before even more Londoners can no longer afford to live in their own city.

    “After hosting such a successful first Rent Commission, I see no reason why the Mayor can’t formally convene his own. It’s a matter of priorities – I managed to do it and get this important conversation started, now he needs to keep it going.

    “The evidence is clear: while there’s no guarantee more private housebuilding will limit or drive down the price of renting, there is a guarantee a rent control will.

    “London’s two million renters cannot afford to wait on their Mayor any longer.”

    The seven recommendations Zoë’s report makes to the Mayor:

    Recommendations:

    1. The Mayor should immediately convene his own renter-led Commission designed to centre Londoners’ diverse experience of renting, and provide resource to the Commission to fund research and economic modelling in relevant areas.
       
    2. The Mayor should work with other Metro and Regional Mayors to lobby Government for devolved powers to set caps on rent prices in the private rented sector (PRS), pushing for a cross-regional approach to rent controls.
       
    3. The Mayor should update the 2019 Blueprint for Private Renters, taking into the account the changing legislative landscape nationally, and national and international evidence from the past five years, including this forum. 
       
    4. The Mayor should set out plans to monitor the impact of the Renters’ Rights Bill on affordability, including lobbying Government to make sure actual rents are captured in the new Private Rented Sector Database and otherwise explore how he can improve data collection across London.
       
    5. The Mayor should set out in detail how he will deliver on his manifesto promises to back renters to defend their rights, hold landlords to account, and provide funding to renters’ unions, and how he plans to improve landlord licensing across London with new devolved powers.
       
    6. The Mayor should borrow from international best practice to develop a framework for analysing impacts of different housing and planning policies on displacement and gentrification.
       
    7. The Mayor should ramp-up his acquisitions programme, and improve monitoring of this programme to get an accurate assessment of its benefits and value for money.

    MIL OSI United Kingdom –

    February 13, 2025

  • MIL-OSI USA: Tariffs on Canadian Steel and Aluminum Would Be a Gut Punch to Workers

    Source: US GOIAM Union

    Brian Bryant, International President of the 600,000-member IAM Union, and David Chartrand, IAM Canadian General Vice President, issued the following statement regarding President Trump’s announcement of a 25% tariff on all steel and aluminum imports into the United States:

    “A 25% tariff on Canadian steel and aluminum imports would be a gut punch to workers on both sides of the border. It will lead to job losses, higher consumer prices, and broken supply chains vital to industries like automotive, aerospace and defense.

    “These proposed tariffs will not protect or grow American jobs – it will destroy them. The U.S. and Canadian economies are linked at the hip. Slapping a 25% tariff on these critical materials from Canada would put our national security at risk. 

    “Many of our members in aerospace and defense depend on parts and materials flowing freely between the U.S. and Canada. These tariffs will throw a wrench into the whole system, putting thousands of IAM Union and other jobs at risk. Our union doesn’t oppose tariffs, but we are advocates for strategic tariffs that protect domestic manufacturing and enhance national security. 

    “Instead of fighting with our closest ally, we should collaborate with Canada to take on real threats like China and Mexico. Unfair trade practices by China and Mexico have decimated the American aluminum industry, not Canada. We need cooperation, not conflict, to build a strong North American manufacturing sector. 

    “We urge President Trump to pull all stakeholders – government, business, and labor – together to forge a comprehensive strategy to protect and grow critical manufacturing in the United States and Canada.”

    The International Association of Machinists and Aerospace Workers is one of North America’s largest and most diverse industrial trade unions, representing approximately 600,000 active and retired members in the aerospace, defense, airlines, railroad, transit, healthcare, automotive, and other industries. 

    goIAM.org | @MachinistsUnion

    Share and Follow:

    MIL OSI USA News –

    February 13, 2025

  • MIL-OSI Security: Two Individuals Charged In Connection With Fentanyl Distribution

    Source: Office of United States Attorneys

    NEWARK, N.J. – Two individuals have been charged in connection with possessing distribution quantities of fentanyl, and one of the individuals has additionally been charged with possession of a firearm with an obliterated serial number, U.S. Attorney Vikas Khanna announced.

    Pablo Suruy Hernandez, 41, of Guatemala, and Giovanni Guzman, 41, of El Salvador, were charged by complaint with one count of conspiracy to distribute fentanyl, and one count of possession with intent to distribute fentanyl. Hernandez is also charged with one count of possession of a firearm with an obliterated serial number.  Hernandez and Guzman appeared before U.S. Magistrate Judge Stacey D. Adams in Newark federal court on February 10, 2025, and were detained.

    According to documents filed in this case and statements made in court:

    In January 2025, law enforcement officials received information that Hernandez was engaged in narcotics trafficking in New Jersey.  On January 16, 2025, Hernandez met with a confidential source to discuss the potential purchase of firearms, fentanyl, and cocaine.  On January 21, 2025, Hernandez sold a defaced firearm to the confidential source.  On February 7, 2025, Hernandez and Guzman met with the confidential source to sell 100,000 fentanyl pills.  Along with the seizure of approximately eleven kilograms of fentanyl, law enforcement also recovered approximately $65,000 during a lawfully executed search of Hernandez’s residence.

    The fentanyl conspiracy and distribution counts carry a mandatory minimum penalty of 10 years in prison, maximum potential penalty of life in prison, and a $10 million fine.  The possession of a firearm with an obliterated serial number carries a maximum penalty of 5 years in prison and a fine of not more than $250,000.

    Acting U.S. Attorney Khanna credited the Drug Enforcement Administration (DEA) New York Division’s Special Agent in Charge Frank Tarentino, and the work of New York Drug Enforcement Task Force Group T-42, which is comprised of Special Agents from the DEA and Task Force Officers from the New York City Police Department (NYPD) and the New York State Police (NYSP).

    The government is represented by Assistant U.S. Attorney Ingrid Eicher of the Office’s Criminal Division in Newark.

    The charges and allegations contained in the complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.

                                                               ###

    MIL Security OSI –

    February 13, 2025

  • MIL-OSI NGOs: Cameroon: Greenpeace Africa calls on the covernment to cancel the decree creating Ma Mbed Mbed Park

    Source: Greenpeace Statement –

    Yaoundé, 12-02-2025 – In 2020, the Cameroonian government issued a decree establishing Ma Mbed Mbed Park, covering an area of more than 12,000 hectares. This decree has sparked reactions from local communities, who have taken to the streets demanding its cancellation. They fear the project could lead to conflicts between humans and wildlife, particularly elephants, and result in the loss of their land. They also criticize the government for not sufficiently consulting them during the decision-making process.

    Professor Ngoussandou Bello Pierre, National Coordinator of Jag Sir, the National Toupouri Cultural Association, said:
    “The Toupouri community believes this is a scheme against their land and their livelihoods. Elephants do not distinguish between ethnic groups, religions, or professions—their presence is a threat to everyone, including the BIR camp, which is less than 12 km away. Kidnappers frequently operate in Taibong and Guidiguis before seeking refuge in a protected area in Chad. Expanding this area with the new park would only worsen insecurity. The government must acknowledge its mistake and revoke the decree to ease tensions. Given the determination of the local population, if the government persists, the extermination of elephants will become inevitable.”

    Cameroon’s Far North is already facing significant challenges, particularly concerning security, and is one of the regions most affected by climate change. Last year, it experienced multiple waves of flooding. Food insecurity remains a persistent issue.

    Dr. Lamfu Fabrice, Forest Campaigner at Greenpeace Africa, said:
    “This park was created to combat climate change and promote social and professional integration—objectives that are commendable. However, the project significantly reduces the land and resources available to local populations. This is why their essential role in the sustainable management of their land and environment must be recognized. When decisions are made without their free, prior, and informed consent, it can unfortunately lead to delicate situations like this one. We call on the government to reconsider the project. This is one threat too many for the people of the Far North.”

    This protest follows a similar demonstration that took place a few weeks ago in the southern region, where local residents of the Camvert project in Campo took to the streets, demanding that the company revise its specifications. According to the residents, the document does not sufficiently account for their rights. The current situation in the Far North presents similar challenges to those faced by the people of Campo, particularly regarding human-wildlife conflicts, land grabbing, and the lack of consultation with local communities before project development.

    Media Contacts:

    Luchelle Feukeng
    Communications and Storytelling Manager, Greenpeace Africa
    Email: [email protected]
    Telephone: +237 656 46 35 45 (WhatsApp)
    Greenpeace Africa Newsdesk: [email protected] 

    Dr. Lamfu Fabrice
    Forest Campaigner, Greenpeace Africa
    Email: [email protected]
    Telephone: +237 678 06 57 58

    MIL OSI NGO –

    February 13, 2025

  • MIL-OSI United Kingdom: Application window for Connect Me grant scheme opens soon12 February 2025 ​Local charities and organisations will be able to apply for grants from the Government of Jersey of up to £5,000 from Monday 3 March to Friday 4 April. The Connect Me: Connecting Our Communities… Read more

    Source: Channel Islands – Jersey

    12 February 2025

    ​

    Local charities and organisations will be able to apply for grants from the Government of Jersey of up to £5,000 from Monday 3 March to Friday 4 April. 

    The Connect Me: Connecting Our Communities Grant Scheme aims to build a more connected and healthier community by providing funding for projects that promote participation in arts, culture and physical activities. 

    Since its start in 2022, the scheme has supported 159 different projects, benefitting over 40,000 Islanders. The scheme fosters collaboration between local charities and helps create a sense of community by increasing the wellbeing of Islanders through arts and physical activities. 

    Organisations that have previously benefited from the scheme include; CYPES – ​Jersey Youth Choir, The Shelter Trust – Walking Football and EYECAN – Accessible Swimming for All. 

    Each project will be evaluated by a panel based on the objective outlined below: 

    • to engage a large cross section of the Jersey community in arts and/or physical activity aimed at enhancing sustainable wellbeing over the next two years 
    • to increase participation in the arts and/or physical activity across the whole population 
    • to provide a means for Government to progress towards the delivery of the strategic objectives outlined in: 
    • Common Strategic Policy 
    • Government Plan 
    • Arts Strategy 
    • Heritage Strategy 
    • Inspiring an Active Jersey Strategy 
    • Cancer Strategy 
    • Disability Strategy 
    • Dementia Strategy or any other health and wellbeing related strategies and policies 
    • to stimulate the creative economy by providing coordinated work for creatives and arts practitioners 
    • to cooperate with other organisations, where possible, in delivery of the project 
    • new applicants will have precedence over repeat projects supported. 

    Organisations that have received funding from the Connect Me scheme are also showcased on Elemental, an online social prescribing platform. Elemental allows healthcare professionals to refer patients to community programs and services that can help them improve their health and wellbeing. Islanders also have the flexibility to self-refer or seek assistance from a link worker. 

    Applicants can apply via the online application form. 

    For further information or if you have any questions regarding the application please email connectme@gov.je​.​

    MIL OSI United Kingdom –

    February 13, 2025

  • MIL-OSI Security: Vicksburg Man Sentenced to Five Years in Prison for Possessing a Firearm as a Convicted Felon

    Source: Federal Bureau of Investigation (FBI) State Crime News

    Jackson, Miss. – A Vicksburg man was sentenced to 60 months in federal prison for possessing a firearm as a convicted felon.

    According to court documents, Marquette Cornell McCroy, 43, was found in possession of a firearm in Vicksburg following a traffic stop. McCroy, who was the driver and sole occupant of the vehicle, had previously been convicted of a felony and was therefore prohibited from possessing firearms. McCroy threw the firearm on the ground as he attempted to flee the vehicle on foot.

    McCroy was indicted by a federal grand jury and he pled guilty on October 3, 2024.

    Acting U.S. Attorney Patrick A. Lemon and Special Agent in Charge Robert Eikhoff of the Federal Bureau of Investigation made the announcement.

    The Vicksburg Police Department and the Federal Bureau of Investigation investigated the case.

    Assistant U.S. Attorney Bert Carraway prosecuted the case.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone.  On May 26, 2021, the department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    MIL Security OSI –

    February 13, 2025

  • MIL-OSI: FDCTech, Inc. Announces Intention to Apply for Uplisting to a Senior Exchange

    Source: GlobeNewswire (MIL-OSI)

    The Company believes uplisting to a senior exchange will enhance liquidity, expand our investor base, and provide greater access to capital markets 

    Irvine, CA, Feb. 12, 2025 (GLOBE NEWSWIRE) — FDCTech, Inc. (“FDC” or the “Company,” PINK: FDCT), a fintech-driven company specializing in acquiring and integrating small—to mid-size legacy financial services firms, proudly announces that that it has engaged Lucosky Brookman LLP to assist the Company in exploring an uplisting to a senior national securities exchange such as the Nasdaq Capital Market or the New York Stock Exchange (NYSE).

    The Company’s engagement of Lucosky Brookman marks a significant step toward enhancing shareholder value and increasing market visibility. As part of this process, FDCTech intends to submit an application for uplisting and work toward meeting the stringent regulatory and financial requirements necessary for listing on a senior exchange.

    However, there is no assurance that the Company will ultimately meet the listing requirements or that the uplisting application will be approved. Currently, FDCTech does not meet the necessary financial and regulatory criteria for uplisting, and there is no guarantee that it will do so in the future.

    Please visit our SEC filings or the Company’s website for more information on the full results and management’s plan.

    FDCTech, Inc.

    FDCTech, Inc. (“FDC”) is a regulatory-grade financial technology infrastructure developer designed to serve the future financial markets. Our clients include regulated and OTC brokerages and prop and algo trading firms of all sizes in forex, stocks, CFDs, commodities, indices, ETFs, precious metals, and other asset classes. Our growth strategy involves acquiring and integrating small to mid-size legacy financial services companies, leveraging our proprietary trading technology and liquidity solutions to deliver exceptional value to our clients.

    Press Release Disclaimer

    This press release’s statements may be forward-looking statements or future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third party. Therefore, in no case will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

    Contact Media Relations
    FDCTech, Inc.
    info@fdctech.com
    www.fdctech.com
    +1 877-445-6047
    200 Spectrum Center Drive, Suite 300,
    Irvine, CA, 92618

    The MIL Network –

    February 13, 2025

  • MIL-OSI: Hanmi Bank Sponsors Southern California Wildfire Relief SBA Seminar in Partnership with the SBA Los Angeles District Office and the YMCA

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, Feb. 12, 2025 (GLOBE NEWSWIRE) — Hanmi Financial Corporation (Nasdaq: HAFC) (“Hanmi”), the holding company for Hanmi Bank, today announced it hosted a Small Business Administration (SBA) disaster assistance seminar for homeowners, renters, nonprofits, and businesses of all sizes affected by the recent Los Angeles wildfires in partnership with the YMCA of LA. Hanmi and SBA Los Angeles District office personnel provided timely information regarding the various programs available and were on hand to answer questions and assist impacted community members with the application process.

    The Los Angeles County Economic Development Corporation estimates that approximately 1,860 small businesses and 11,430 jobs located within the fire burn zones were potentially impacted.

    In conjunction with the event, Hanmi Bank and the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) presented the YMCA and the Korean American Federation of Los Angeles (KAFLA) with a $30,000 check each. Hanmi’s portion of the donations included employee contributions and company matching funds.

    Anna Chung, Chief SBA Lending Officer at Hanmi Bank, said, “As a Los Angeles-headquartered community bank, we want to help the residents and businesses of our city get back on their feet as quickly as possible. Providing opportunities for those impacted by the fires to speak directly with SBA personnel and guide them through the relief application process is an important step in this journey. We know the road to recovery will be a long one and we will continue to identify ways to provide assistance and serve as a trusted resource.”

    To make the funding available to the YMCA and KAFLA, Hanmi Bank partnered with FHLBank San Francisco in its wildfire relief and recovery matching funds initiative that is part of a suite of tools and resources that are available to help its member financial institutions address both urgent needs and longer-term recovery efforts in local communities. These tools and resources include discounted credit programs that support affordable housing, economic development, and community revitalization efforts.

    “We are thankful to all of the first responders for their bravery and perseverance in battling the devastating wildfires in Southern California that destroyed over 10,000 homes, thousands of businesses, and displaced tens of thousands of people,” said Joe Amato, interim president and CEO, and chief financial officer with FHLBank San Francisco. “As the region begins a lengthy rebuilding effort, we will continue to serve and engage with our members, including Hanmi Bank, and community stakeholders to deliver much needed grants and funding to local organizations that serve a vital role in local community relief and recovery efforts.”

    The seminar took place on February 11th at the Anderson Munger Family YMCA Community Room in Koreatown. The Koreatown YMCA has been playing a central role in supporting victims across the entire YMCA metropolitan Los Angeles area. Representatives from the SBA Los Angeles District Office introduced the various types of SBA disaster loan programs available to impacted individuals and business owners.

    About Hanmi Financial Corporation
    Headquartered in Los Angeles, California, Hanmi Financial Corporation owns Hanmi Bank, which serves multi-ethnic communities through its network of thirty-one full-service branches and eight loan production offices in California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington, and Georgia. Hanmi Bank specializes in real estate, commercial, SBA and trade finance lending to small and middle market businesses. Additional information is available at www.hanmi.com.

    Contact
    Juanita Gutierrez
    Vice President
    Financial Profiles, Inc.
    310-622-8235
    JGutierrez@finprofiles.com

    Source: Hanmi Bank

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f8ec975c-dc8b-4524-ab07-89412c7e2156

    The MIL Network –

    February 13, 2025

  • MIL-OSI: Safe Harbor Financial Originates $1,500,000 Secured Credit Facility for Missouri Cannabis Operator

    Source: GlobeNewswire (MIL-OSI)

    GOLDEN, Colo., Feb. 12, 2025 (GLOBE NEWSWIRE) — SHF Holdings, Inc., d/b/a Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a fintech leader in facilitating financial services and credit facilities to the regulated cannabis industry, announced the closing of a $1,500,000 secured credit facility for a Missouri-based cannabis operator. This transaction marks the second tranche of a $5,000,000 loan funding package aimed at refinancing expensive senior debt across four retail dispensaries in Missouri. An initial tranche of $1.07 million was originated on October 29, 2024.

    “Safe Harbor Financial is dedicated to supporting cannabis operators with robust and compliant financial solutions through our financial institution partners that mirror those available through traditional banking sources,” said John Foley, Senior Vice President, Commercial Lending at Safe Harbor Financial. “This credit facility exemplifies our commitment to delivering competitive market interest rates and favorable loan terms, allowing cannabis businesses to efficiently manage debt and focus on growth.”

    With a focus on competitive market pricing, Safe Harbor Financial structured the financing package to deliver optimal lending terms for the borrower. The deal underscores the Company’s ability to provide bank-quality lending solutions tailored specifically for cannabis operators, further reinforcing its leadership in cannabis financial services.

    Terry Mendez, Co-CEO of Safe Harbor Financial added: “This latest financing demonstrates Safe Harbor’s commitment to offering competitive market pricing and tailored financial solutions that support the long-term stability of cannabis operators. Capitalizing our ability to structure favorable loan terms, we empower cannabis businesses to thrive in an evolving marketplace. Safe Harbor remains dedicated to offering cannabis operators and the financial services they need to grow, while simultaneously delivering sustainable value to our investors through a strong and diversified credit portfolio.”

    This latest transaction reinforces Safe Harbor Financial’s ongoing mission to expand access to capital for cannabis businesses, an industry that has historically faced significant banking and lending challenges. By leveraging strong deposit relationships, Safe Harbor Financial continues to pioneer comprehensive financial services that meet the unique needs of the regulated cannabis market.

    About Safe Harbor
    Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions, providing traditional banking services to cannabis, hemp, CBD, and ancillary operators, making communities safer, driving growth in local economies, and fostering long-term partnerships. Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past decade, Safe Harbor has facilitated more than $25 billion in deposit transactions for businesses with operations spanning more than 41 states and US territories with regulated cannabis markets. For more information, visit www.shfinancial.org.

    Cautionary Statement Regarding Forward-Looking Statements
    Certain information contained in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included herein may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S. and state laws, rules, regulations and guidance relating to Safe Harbor’s services; Safe Harbor’s ability to issue loans in the same or similar fashion; Safe Harbor’s growth prospects and Safe Harbor’s market size; Safe Harbor’s projected financial and operational performance, including relative to its competitors and historical performance; new product and service offerings Safe Harbor may introduce in the future; the impact volatility in the capital markets, which may adversely affect the price of Safe Harbor’s securities; the outcome of any legal proceedings that may be instituted against Safe Harbor; and other statements regarding Safe Harbor’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “outlook,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Safe Harbor’s filings with the U.S. Securities and Exchange Commission. Safe Harbor undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

    Contact Information
    Safe Harbor Investor Relations
    ir@SHFinancial.org

    KCSA Strategic Communications
    Ellen Mellody
    safeharbor@kcsa.com

    The MIL Network –

    February 13, 2025

  • MIL-OSI: Clear Street Expands UK Leadership Team with Key Senior Hires

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 12, 2025 (GLOBE NEWSWIRE) — Clear Street, (“Clear Street”, “the Company”) a cloud-native financial technology firm on a mission to modernise the brokerage ecosystem, today announced key leadership hires as part of its continued expansion in the UK.

    These senior hires reflect the Company’s commitment to strengthening its presence in the UK and Europe. Clear Street welcomes the following leaders to its UK team:

    • Tarquin Orchard – Global Head of Event-Driven Strategies
    • Matthew Cyzer – Head of Markets, Execution
    • Phillip Hylander – Managing Director, Execution
    • Stuart Holt – Managing Director, Client Distribution and Strategy, Equities
    • Luke Holmes – Managing Director, Sales Trading

    The moves illustrate the continued migration of talent to Clear Street from a number of traditional financial services institutions including Goldman Sachs, Deutsche Bank, Bank of America and more. The UK team has now grown to more than 40 professionals, actively hiring across business areas including equities execution, equity finance and product and systems engineering.

    Ed Tilly, CEO of Clear Street, commented, “Establishing a strong presence in the UK is a natural step in our global growth and the addition of these leaders is another major step as we activate our mission. Our success in the US illustrates that our client-centric approach sets us apart, and we remain eager to listen to our clients and expand where they want to see us grow. Clear Street continues to attract top tier talent, ensuring our clients are in the best hands every step of the way.”

    Jacinda Fahey, CEO of Clear Street UK and Europe, commented, “We are building a sustainable business in the UK with scalable infrastructure to ensure we continue delivering innovative solutions tailored to our clients’ needs.   These leadership appointments reflect our dedication to hiring top-tier talent and driving long-term success.”

    This announcement follows Clear Street’s recent UK launch and FCA approval, as well as recently launched Category 1 membership with the London Metal Exchange (LME). To learn more about Clear Street’s UK expansion, please refer to the official launch announcement.

    About Clear Street:

    Clear Street is modernising the brokerage ecosystem with financial technology and services that empower market participants with real-time data and best-in-class products, tools and teams, to navigate capital markets around the world. Complemented by white-glove service, Clear Street’s cloud-native, proprietary product suite delivers financing, derivatives, execution and more to power client success, adding efficiency to the market and enabling clients to minimize risk, redundancy and cost. Clear Street’s goal is to create a single platform for every asset class, in every country and in any currency. For more information, visit https://clearstreet.io.

    Press Contact:
    Clear Street – press@clearstreet.io

    Clear Street does not provide investment, legal, regulatory, tax, or compliance advice. Consult professionals in these fields to address your specific circumstances. These materials are: (i) solely an overview of Clear Street’s products and services; (ii) provided for informational purposes only; and (iii) subject to change without notice or obligation to replace any information contained therein.

    Products and services are offered by Clear Street LLC as a Broker Dealer member FINRA and SIPC and a Futures Commission Merchant registered with the CFTC and member of NFA. Additional information about Clear Street is available on FINRA BrokerCheck, including its Customer Relationship Summary and NFA BASIC | NFA (futures.org).

    Copyright © 2025 Clear Street LLC. All rights reserved. Clear Street and the Shield Logo are Registered Trademarks of Clear Street LLC

    The MIL Network –

    February 13, 2025

  • MIL-OSI Economics: Secretary-General of ASEAN receives courtesy call by Chargé d’affaires a

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with Chargé d’Affaires a.i. of the United States Mission to ASEAN, Kate Rebholz, in a courtesy call at the ASEAN Headquarters/ASEAN Secretariat. They exchanged views on ways to further advance the ASEAN-United States Comprehensive Strategic Partnership. Both sides also discussed capacity building programmes for ASEAN Secretariat staff and the activities of the ASEAN-U.S. Center in Washington, D.C.

    The post Secretary-General of ASEAN receives courtesy call by Chargé d’affaires a.i. of the U.S. Mission to ASEAN appeared first on ASEAN Main Portal.

    MIL OSI Economics –

    February 13, 2025

  • MIL-OSI Economics: Secretary-General of ASEAN receives visit by CEPI Board Chair

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today received a visit by the Coalition for Epidemic Preparedness Innovations (CEPI) Board Chair, Prof. Sarah Jane Halton, at the ASEAN Headquarters/ASEAN Secretariat. The meeting exchanged perspectives and explored potential cooperation on vaccine research, development and manufacturing in the ASEAN region. They also emphasized the importance of focusing on having a robust prevention, preparedness and response ecosystem to address public health emergencies and emerging diseases.

    The post Secretary-General of ASEAN receives visit by CEPI Board Chair appeared first on ASEAN Main Portal.

    MIL OSI Economics –

    February 13, 2025

  • MIL-OSI Global: LA flash flood watch: Rain on wildfire burn scars can trigger destructive debris flows − a geologist explains how

    Source: The Conversation – USA – By Jen Pierce, Professor of Geosciences, Boise State University

    A debris flow channel in a severely burned watershed in Idaho. Amirhossein Montazeri/Boise State University, CC BY-ND

    As the Los Angeles area begins cleaning up from devastating wildfires, city officials and emergency managers are worried about what could come next. The National Weather Service issued a flash flood watch for the region for Feb. 13, 2025, when the heaviest rain from an atmospheric river is forecast.

    Rain on burned hillslopes can trigger dangerous floods and debris flows. Those debris flows can move with the speed of a freight train, picking up or destroying anything in their path. They can move tons of sediment during a single storm, as Montecito, just up the coast from Los Angeles, saw in 2018.

    What causes debris flows, sometimes called mudflows, and why are they so common and dangerous after a fire? I am a geologist whose research focuses on pyrogeomorphology, which is how fire affects the land. Here’s what we know.

    How debris flows begin

    When severe fires burn hillslopes, the high heat from the fires, sometimes exceeding 1,000 degrees Fahrenheit (538 degrees Celsius), completely destroys trees, shrubs, grass and structures, leaving behind a moonscape of gray ash. Not only that, the heat of the fire actually burns and damages the soil, creating a water-repellent, or hydrophobic, layer.

    What once was a vegetated hillslope, with leaves and trees to intercept rain and spongy soils to absorb water, is transformed into a barren landscape covered with ash, and burned soil where water cannot soak in.

    Illustrations show how fire can change the soil and landscape.
    National Weather Service

    When rain does fall on a burned area like this, water mixes with the ash, rocks and sediment to form a slurry. This slurry of debris then pours downhill in small gullies called rills, which then converge to form bigger and bigger rills, creating a torrent of sediment, water and debris rushing downhill. All this debris and water can transform small streams and usually dry gullies into a danger zone.

    Because the concentration of sediment is so high, especially when there is a large amount of ash and clay, debris flows behave more like a slurry of wet cement than a normal stream. This fluid can pick up and move large boulders, cars, trees and other debris rapidly downhill.

    A firefighter walks through knee-deep mud while checking for victims after a debris flow hit Montecito, Calif., in January 2018.
    Wally Skalij/Los Angeles Times via Getty Images

    In January 2018, a few weeks after the Thomas fire burned through the hills above Montecito, a storm triggered debris flows that killed 23 people and damaged at least 400 homes.

    What controls size and timing of debris flows

    The geography of the land, burn severity, storm intensity and soil characteristics all play important roles in if, when and where debris flows occur.

    Fire and debris flow scientists with the U.S. Geological Survey use these variables to create models to predict the likelihood and possible hazards from postfire debris flows. They are already developing maps to help residents, emergency managers and city officials prepare and predict postfire debris flows in 2025 burn areas in Los Angeles.

    The U.S. Geological Survey modeled debris flow risks after the Palisades Fire near Los Angeles. The map shows some of the highest-risk areas if hit by 15 minutes of rain falling at just under 1 inch (24 millimeters) per hour.
    USGS

    Some of the triggers of debris flows are literally part of the landscape.

    For example, the slope angle in a watershed and the amount of clay in the soil are important. Watersheds with gentle slopes – generally less than about 23 degrees – and a lack of clay and silt-sized particles are unlikely to produce debris flows.

    Other key factors that contribute to postfire debris flows relate to the proportion of the watershed that is severely burned and the intensity and duration of the rainstorm event.

    Early important research in the field of pyrogeomorphology demonstrated that while large, intense storms are more likely to cause large, intense debris flows, even small rainstorms can produce debris flows in burned areas.

    Debris flows are becoming more common

    A whopping 21.8 million Americans live within 3 miles of where a fire burned during the past two decades, and that population more than doubled from 2000 to 2019. A recent study from central and northern California indicates that nearly all the observed increases in area burned by wildfires in recent decades are due to human-caused climate change.

    The warming climate is also increasing the likelihood of more extreme downpours. The amount of moisture the atmosphere can hold increases by about 7% per degree Celsius of warming, leading to more intense downpours, particularly from ocean storms. In California, scientists project increases in rainfall intensity of 18% will result in an overall 110% increase in the probability of major debris flows.

    Jon Frye, of Santa Barbara Public Works, shows what happened in the January 2018 Montecito debris flow and why the risks to downslope communities would continue for several years. Source: County of Santa Barbara, 2018.

    Studies using models of fire, climate and erosion rates estimate that the amount of sediment flowing downhill after fires will increase by more than 10% in nine out of every 10 watersheds in the western U.S.

    Even without rain, debris on fire-damaged slopes can be unstable. A small slide in Pacific Palisades shortly after a fire burned through the area split a home in two. A phenomenon called “dry ravel” is a dominant form of hillslope erosion following wildfires in chaparral environments in Southern California

    Preparing for debris flow risks

    Research on charcoal pieces from ancient debris flows has shown fires and erosion have shaped Earth’s landscape for at least thousands of years. However, the rising risk of wildfires near populated areas and the potential for increasingly intense downpours mean a greater risk of damaging and potentially deadly debris flows.

    As their populations expand, community planners need to be aware of those risks and prepare.

    This article, originally published Jan. 23, 2025, has been updated with a flash flood watch issued.

    Jen Pierce receives funding from the National Science Foundation and is the chair of the Quaternary Geology and Geomorphology division of the Geological Society of America.

    – ref. LA flash flood watch: Rain on wildfire burn scars can trigger destructive debris flows − a geologist explains how – https://theconversation.com/la-flash-flood-watch-rain-on-wildfire-burn-scars-can-trigger-destructive-debris-flows-a-geologist-explains-how-247770

    MIL OSI – Global Reports –

    February 13, 2025

  • MIL-OSI United Nations: Toolbox for enhancing digital and sustainable trade facilitation along transit corridors

    Source: United Nations Economic Commission for Europe

    The purpose of this project is to develop a policy recommendation that assists UN Member States in enhancing digital and sustainable trade facilitation along transit corridors.

    The first phase will focus on scoping the project deliverables, gathering insights into the persistent challenges and inefficiencies in soft trade infrastructure that hinder seamless transit procedures and data exchange along corridors, particularly impacting trade competitiveness for landlocked developing countries. It will also develop implementation guidelines for the UN/CEFACT Package of Standards for Data Exchange, which supports the digital transformation of cross-border trade which will be tested in a pilot (a real-world scenario), ensuring their effectiveness and relevance.

    In today’s global trade landscape, competitiveness relies on seamless connectivity across multiple domains, including transport, logistics, telecom, and IT. This initiative will build on the UNECE UN/CEFACT Package of Standards for data exchange along supply chains, given the increasing importance of UNECE UN/CEFACT tools in managing the complexities of data transfer across transport modes.

    Agenda:

    • Context & Background
       
    • Recap of the past High-level policy dialogues:
      a) 30th UNECE- UN/CEFACT Plenary in Geneva (July 2024)
      b) 43rd UNECE- UN/CEFACT Forum in Rome ( December 2024)
       
    • Structure of the policy recommendation & deliverables:
      i) Policy recommendation
      ii) Implementation guidelines for the UN/CEFACT Package of Standards for Data Exchange
      iii) Pilot projects
       
    • Brainstorming the scope of the policy recommendation
       
    • Sharing some publications/readings ahead of the next meeting to scope further

    For more information contact the Project Lead Ms. Nogaye Diagne  with Ms. Ludovica Poponcini in copy

    MIL OSI United Nations News –

    February 13, 2025

  • MIL-OSI: Form 8.3 – [LEARNING TECHNOLOGIES GROUP PLC – 11 02 2025] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 LEARNING TECHNOLOGIES GROUP PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 04 FEBRUARY 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 0.375p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 9,641,106 1.2166    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 9,641,106 1.2166    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    0.375p ORDINARY SALE 3,620 99.2p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 12 FEBRUARY 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

    February 13, 2025

  • MIL-OSI: Form 8.3 – [CRIMSON TIDE PLC – Opening Disclosure – 11 02 2025] – (CGAML)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY ASSET MANAGEMENT LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 CRIMSON TIDE PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 11 FEBRUARY 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 NO

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 10p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 720,000 10.9508    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 720,000 10.9508    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    None      

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 12 FEBRUARY 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

    February 13, 2025

  • MIL-OSI: LeddarTech Reports Fiscal First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    QUEBEC CITY, Canada, Feb. 12, 2025 (GLOBE NEWSWIRE) — LeddarTech® Holdings Inc. (“LeddarTech”) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology, LeddarVision™, today provided a corporate update and announced financial results for the fiscal first quarter ended December 31, 2024.

    “2025 is off to a very exciting start for LeddarTech, as we continue to make substantial progress on our strategic plan. In fiscal Q1, we announced our collaboration and license agreement with Texas Instruments (“TI”), a premier semiconductor partner in the automotive space. Following that, we recently announced our first OEM design win from a major commercial vehicle OEM,” said Frantz Saintellemy, President and CEO of LeddarTech. “These commercial successes demonstrate strong validation by industry leaders of our products and are accelerating interest from potential customers and partners across the ADAS and AD landscape, building on our already substantial pipeline of opportunities.”

    Recent Business and Technology Highlights

    • Announced first OEM design win for LeddarVision. One of the world’s leading commercial vehicle OEMs has selected LeddarTech as the fusion and perception software supplier for their advanced driver assistance system (ADAS) program for 2028 model year vehicles. We expect to start generating engineering services revenue this fiscal year (FY2025).
    • Received US$8 million advanced royalty payments from TI. In January, LeddarTech received the second advanced royalty payment of US$3 million as part of its collaboration and license agreement with TI. This is in addition to the US$5 million received in December 2024.
    • Raised US$11.3 million under a standby equity purchase agreement (SEPA). In January, LeddarTech raised US$1.1 million (CA$1.4 million) by selling 600,000 shares at an average price of US$1.76. This is in addition to the US$10.2 million (CA$14.4 million) raised in fiscal Q1 2025 by selling 6.6 million shares at an average price of US$1.55 per share.
    • Conducted successful CES participation. LeddarTech completed a strong showing at the 2025 Consumer Electronics Show (CES), including the successful demonstration of LeddarVision Surround (LVS-2+) software utilizing TI TDA4VH-Q1 processor.
    • Announced listing transfer to Nasdaq Capital Market. Via this transfer, LeddarTech had cured the Nasdaq deficiencies and met the applicable listing standards.
    • Received ISO/IEC 27001 certification. LeddarTech proudly announced that the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) have awarded LeddarTech ISO/IEC 27001 certification, a key requirement for automotive customers.

    Customer Traction and Development

    LeddarTech has a robust pipeline of over 30 active opportunities with original equipment manufacturers (OEMs) and Tier 1 automotive suppliers to support consumer demands for improved safety features and satisfy upcoming regulatory deadlines.

    During 2025, LeddarTech will continue to develop two new, revenue-generating products that are designed to accelerate revenue and adoption of LeddarVision. More information will be shared on these products when available.

    Fiscal First Quarter 2025 Financial Highlights1

    Revenue: Revenue from continuing operations for the fiscal first quarter of 2025, ending December 31, 2024, was $51,900, compared to $52,000 in the fiscal quarter ending December 31, 2023. Revenue excludes our discontinued modules and components business.

    Net loss: Net loss for the fiscal first quarter of 2025, ending December 31, 2024, was $27.0 million, compared to a net loss of $61.5 million in the fiscal quarter ending December 31, 2023, representing a 56% decrease, primarily due to transaction costs that were incurred in fiscal Q1, 2024 and did not reoccur in 2025.

    EBITDA and adjusted EBITDA2:  EBITDA loss for the fiscal first quarter of 2025, ending December 31, 2024, was $22.1 million, compared to a $60.3 million loss in the fiscal quarter ending December 31, 2023, representing a 63% decrease, primarily due to transaction costs that were incurred in fiscal Q1, 2024 and did not reoccur in 2025. Adjusted EBITDA loss for the fiscal first quarter of 2025, ending December 31, 2024, was $11.1 million, compared to adjusted EBITDA loss of $8.6 million in the fiscal quarter ending December 31, 2023, representing a 11% increase, primarily due to a change in the amount of capitalized development costs.

    Continuing operations Q1-2025
    		   Q1-2024
    		  
    Revenues $51,878   $52,000  
    Loss from operations (13,218,705)   (63,912,986)  
    Finance costs, net 13,746,884   (2,422,558)  
    Loss before income taxes (27,012,529)   (61,490,428)  
    Net loss and comprehensive loss (27,012,664)   (61,490,428)  
    Net loss and comprehensive loss attributable to Shareholders of the Company (27,012,664)   (61,188,116)  
    Loss per share    
    Net loss per share (basic and diluted) (in dollars) (0.86)   (17.06)  
    Weighted average common shares outstanding (basic and diluted) 31,483,617   3,587,572  
    EBITDA (loss) (22,059,095)   (60,290,981)  
    Adjusted EBITDA (loss) (11,143,209)   (8,572,571)  
             

    The following table sets forth a reconciliation of adjusted EBITDA and EBITDA to net loss reported in accordance with IFRS for the three months ended December 31, 2024 and 2023.

      Q1-2025
    		   Q1-2024
    		  
    Net loss from continued operations ($27,012,664)   ($61,490,428)  
    Deferred income taxes 135   –  
    Depreciation of property and equipment 170,977   189,639  
    Depreciation of right-of-use assets 112,822   108,365  
    Amortization of intangible assets 165,134   137,112  
    Interest expenses 4,504,501   764,330  
    EBITDA loss from continuing operations (22,059,095)   (60,290,981)  
         
    Foreign exchange loss (gain) 3,635,140   (67,715)  
    Loss (gain) on revaluation of financial instruments carried at fair value 5,602,056   (2,963,283)  
    Gain on lease modification –   (166,661)  
    Stock-based compensation 1,678,690   (5,985,250)  
    Listing expense –   59,139,572  
    Transaction costs –   1,761,747  
    Adjusted EBITDA loss from continuing operations (11,143,209)   (8,572,571)  
             

    Balance Sheet and Liquidity3

    As of December 31, 2024, LeddarTech’s consolidated cash and cash equivalents balance totaled $17.7 million, compared to $5.3 million on September 30, 2024. Subsequent to the end of the quarter, the Company raised approximately $5.9 million, using a recent exchange rate of 1.43 Canadian dollars per US dollar. This included a US$3 million advance royalty payment from Texas Instruments and US$1.1 million from the sale of stock issuance under our standby equity purchase agreement or SEPA. LeddarTech’s cash balance as of Monday, February 10, 2025, was approximately $15.9 million.

    Non-IFRS Financial Measures

    A non-IFRS financial measure is a financial measure used to depict our historical or expected future financial performance, financial position or cash flow and, with respect to its composition, either excludes an amount that is included in, or includes an amount that is excluded from, the composition of the most directly comparable financial measure disclosed in Company’s consolidated primary financial statements.

    In Q2-2024, the Company started to use two new non-IFRS financial measures because we believe these non-IFRS financial measures are reflective of our ongoing operating results and provide readers with an understanding of management’s perspective on and analysis of our performance.

    Below are descriptions of the non-IFRS financial measures that we use to explain our results and reconciliations to the most directly comparable IFRS financial measures.

    EBITDA (loss) is calculated as net earnings (loss) before interest expenses (income), deferred income taxes, depreciation of property and equipment, depreciation of right-of-use assets and amortization of intangible assets.

    EBITDA (loss) should not be considered an alternative to net loss in measuring performance or used as a measure of cash flow.

    Adjusted EBITDA (loss) is calculated as EBITDA (loss), adjusted for foreign exchange gain (loss), loss (gain) on revaluation of financial instruments carried at fair value, gain or loss on lease modification, share‐based compensation, listing expense, transaction costs, restructuring costs and impairment loss on intangible assets.

    About LeddarTech

    A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.

    LeddarTech is responsible for several remote-sensing innovations, with over 170 patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.

    Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter (X), Facebook and YouTube.

    Forward-Looking Statements

    Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech’s selection by the OEM referred to above, anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics and ability to comply with Nasdaq Capital Market listing standards in the future. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation, our ability to continue to maintain compliance with Nasdaq continued listing standards following our transfer to the Nasdaq Capital Market, as well as: (i) the risk that LeddarTech and the OEM referred to above are unable to agree to final terms in definitive agreements; (ii) the volume of future orders (if any) from this OEM, actual revenue derived from expected orders, and timing of revenue, if any; (iii) our ability to timely access sufficient capital and financing on favorable terms or at all; (iv) our ability to maintain compliance with our debt covenants, including our ability to enter into any forbearance agreements, waivers or amendments with, or obtain other relief from, our lenders as needed; (v) our ability to execute on our business model, achieve design wins and generate meaningful revenue; (vi) our ability to successfully commercialize our product offering at scale, whether through the collaboration agreement with Texas Instruments, a collaboration with a Tier 2 supplier or otherwise; (vii) changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs and plans; (viii) changes in general economic and/or industry-specific conditions; (ix) our ability to retain, attract and hire key personnel; (x) potential adverse changes to relationships with our customers, employees, suppliers or other parties; (xi) legislative, regulatory and economic developments; (xii) the outcome of any known and unknown litigation and regulatory proceedings; (xiii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak, as well as management’s response to any of the aforementioned factors; and (xiv) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Form 20-F filed with the SEC. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Chris Stewart, Chief Financial Officer, LeddarTech Holdings Inc.

    Tel.: + 1-514-427-0858, chris.stewart@leddartech.com

    Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

    LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”

    1    All amounts in Canadian dollars except where otherwise noted.

    2    EBITDA and adjusted EBITDA are non-IFRS measures and are presented by the Company as they are used to assess operating performance. These non-IFRS measures do not have standardized meanings under IFRS and are not likely comparable to similarly designated measures reported by other corporations. The reader is cautioned that these measures are being reported in order to complement, and not replace, the analysis of financial results in accordance with IFRS. See “Non-IFRS Financial Measures” below.

    3    All amounts in Canadian dollars except where otherwise noted.

    The MIL Network –

    February 13, 2025
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