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  • MIL-OSI: CORRECTION – ACNB Corporation Announces Completion of Traditions Bancorp, Inc. Acquisition

    Source: GlobeNewswire (MIL-OSI)

    GETTYSBURG, Pa., Feb. 04, 2025 (GLOBE NEWSWIRE) — In a release issued under the same headline on February 3, 2025 by ACNB Corporation please note that in the third paragraph of the release, the deposit amount has been corrected to $2.54 billion instead of $2.04 billion. The corrected release follows:

    ACNB Corporation (NASDAQ: ACNB), the parent financial holding company of ACNB Bank, a Pennsylvania state-chartered, FDIC-insured community bank, headquartered in Gettysburg, PA, announced the completion of the acquisition of Traditions Bancorp, Inc. (“Traditions”) and its wholly-owned subsidiary, Traditions Bank, headquartered in York, PA, effective February 1, 2025. Traditions was merged with and into a wholly-owned subsidiary of ACNB Corporation immediately followed by the merger of Traditions Bank with and into ACNB Bank. ACNB Bank will operate the former Traditions Bank branches as “Traditions Bank, A Division of ACNB Bank”. In connection with the close of the acquisition, Traditions stockholders received 0.7300 shares of ACNB Corporation common stock for each share of Traditions common stock that they owned as of the closing date, with cash paid in lieu of fractional shares.

    In addition, at the close of the acquisition, three former Traditions directors, Eugene J. Draganosky, Elizabeth F. Carson, and John M. Polli, joined the Boards of Directors of ACNB Corporation and ACNB Bank. Mr. Draganosky has nearly 40 years of banking experience, and is the former CEO and Chair of the Board of Traditions and Traditions Bank, having held those roles since 2017 and 2023, respectively. Ms. Carson, Lead Independent Director of Traditions, joined the Traditions Bank Board in 2015, after over 30 years of banking experience in a variety of leadership roles with community and regional banks. Mr. Polli was a member of the Traditions Bank board of directors since its founding in 2002, and has nearly 40 years of diverse business expertise, from serving as a public accountant to owning, managing, and advising businesses in the transportation, real estate, and insurance industries.

    With the combination of the two organizations, and based on financial information for each organization as of December 31, 2024, ACNB Corporation will have approximately $3.26 billion in assets, $2.54 billion in deposits, and $2.36 billion in loans, and will serve its customers throughout 35 community banking offices in south central Pennsylvania and northern Maryland.

    “We are pleased to announce the completion of our strategic acquisition of Traditions Bancorp, and excited to unite our teams of dedicated local bankers who are committed to their customers and communities,” stated ACNB Corporation President & Chief Executive Officer James P. Helt. “This combination brings together organizations that are unified by a shared vision, values, and a customer-centric approach to banking, to create an even stronger community bank. Importantly, our customers will benefit from expanded products and services delivered by the familiar faces they have come to know and trust. This merger positions us well to continue to grow in the attractive York and Lancaster County markets, and enhances ACNB Bank’s mortgage operations, which will now serve customers throughout our footprint as ‘Traditions Mortgage, A Division of ACNB Bank.’ Together, we look forward to continuing to deliver on our vision of being the financial services provider of choice in the communities we serve.”

    Alan J. Stock, Chair of the Board of ACNB, stated “We welcome Mr. Draganosky, Ms. Carson, and Mr. Polli to the ACNB Boards of Directors, and are confident that their expertise, skills, and strong connections to the York and Lancaster market areas will enhance and complement ACNB’s current Boards of Directors. We are committed to enhancing value for our shareholders and are poised to deliver on that commitment with an experienced and knowledgeable board, a seasoned management group, and a team of bankers and professionals dedicated to a successful integration and customer experience.”

    Bybel Rutledge LLP served as legal counsel and Piper Sandler served as financial advisor to ACNB Corporation for the transaction. Pillar + Aught served as legal counsel and Stephens Inc. served as financial advisor to Traditions Bancorp, Inc.

    About ACNB Corporation
    ACNB Corporation, headquartered in Gettysburg, PA, is the $3.26 billion financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and ACNB Insurance Services, Inc., Westminster, MD. Originally founded in 1857, ACNB Bank serves its marketplace with banking and wealth management services, including trust and retail brokerage, via a network of 35 community banking offices and two loan offices located in the Pennsylvania counties of Adams, Cumberland, Franklin, Lancaster and York and the Maryland counties of Baltimore, Carroll and Frederick. ACNB Insurance Services, Inc. is a full-service insurance agency with licenses in 46 states. The agency offers a broad range of property, casualty, health, life and disability insurance serving personal and commercial clients through office locations in Westminster and Jarrettsville, MD, and Gettysburg, PA. For more information regarding ACNB Corporation and its subsidiaries, please visit investor.acnb.com.

    FORWARD-LOOKING STATEMENTS – In addition to historical information, this press release may contain forward-looking statements. Examples of forward-looking statements include, but are not limited to, (a) projections or statements regarding future earnings, expenses, net interest income, other income, earnings or loss per share, asset mix and quality, growth prospects, capital structure, and other financial terms, (b) statements of plans and objectives of Management or the Board of Directors, and (c) statements of assumptions, such as economic conditions in the Corporation’s market areas. Such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “intends”, “will”, “should”, “anticipates”, or the negative of any of the foregoing or other variations thereon or comparable terminology, or by discussion of strategy. Forward-looking statements are subject to certain risks and uncertainties such as national, regional and local economic conditions, competitive factors, and regulatory limitations. Actual results may differ materially from those projected in the forward-looking statements. Such risks, uncertainties, and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: short-term and long-term effects of inflation and rising costs on the Corporation, customers and economy; banking instability caused by bank failures and financial uncertainty of various banks which may adversely impact the Corporation and its securities and loan values, deposit stability, capital adequacy, financial condition, operations, liquidity, and results of operations; effects of governmental and fiscal policies, as well as legislative and regulatory changes; effects of new laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) and their application with which the Corporation and its subsidiaries must comply; impacts of the capital and liquidity requirements of the Basel III standards; effects of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters; ineffectiveness of the business strategy due to changes in current or future market conditions; future actions or inactions of the United States government, including the effects of short-term and long-term federal budget and tax negotiations and a failure to increase the government debt limit or a prolonged shutdown of the federal government; effects of economic conditions particularly with regard to the negative impact of any pandemic, epidemic or health-related crisis and the responses thereto on the operations of the Corporation and current customers, specifically the effect of the economy on loan customers’ ability to repay loans; effects of competition, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products and services; inflation, securities market and monetary fluctuations; risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities, and interest rate protection agreements, as well as interest rate risks; difficulties in acquisitions and integrating and operating acquired business operations, including information technology difficulties; challenges in establishing and maintaining operations in new markets; effects of technology changes; effects of general economic conditions and more specifically in the Corporation’s market areas; failure of assumptions underlying the establishment of reserves for credit losses and estimations of values of collateral and various financial assets and liabilities; acts of war or terrorism or geopolitical instability; disruption of credit and equity markets; ability to manage current levels of impaired assets; loss of certain key officers; ability to maintain the value and image of the Corporation’s brand and protect the Corporation’s intellectual property rights; continued relationships with major customers; and, potential impacts to the Corporation from continually evolving cybersecurity and other technological risks and attacks, including additional costs, reputational damage, regulatory penalties, and financial losses; and, the other factors detailed in ACNB’s publicly-filed documents, including its Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024, and its other filings with the SEC. We caution readers not to place undue reliance on these forward-looking statements. The forward-looking statements only speak as of the date hereof, and ACNB does assume any obligation to revise, update or clarify forward-looking statements to reflect events or conditions after the date of this press release.

    ACNB #2025-5
    February 3, 2025

    Contact:    Kevin Hayes
    SVP/ General Counsel,
    Secretary, and Chief
    Governance Officer
    717.339.5161
    khayes@acnb.com
         

    The MIL Network –

  • MIL-OSI: Kinematics Strengthens Global Leadership in Solar Tracker Intelligence with Completion of P4Q Acquisition

    Source: GlobeNewswire (MIL-OSI)

    PHOENIX, Feb. 04, 2025 (GLOBE NEWSWIRE) — Kinematics, a global leader in intelligent motion control, today announced the successful completion of its acquisition of P4Q. By integrating P4Q’s high-performance electronics portfolio—including over 1 million solar controllers deployed across 2,400 solar sites globally—with Kinematics’ installed base of 2.9 million solar actuators, the combined company becomes the world’s largest supplier of motion control technology for solar trackers supporting more than 134 gigawatts of solar installations worldwide.

    Kinematics has gained P4Q’s expertise in full-stack electronics, including their market-leading tracker controls brand, Suntrack®, to complement its innovative actuation systems. This acquisition allows Kinematics to provide a complete solution for solar tracker motion technology, simplifying design integration and supply for solar tracker OEMs, enabling the most advanced tracking systems for future installations and providing asset owners a path toward upgrading outdated systems.

    “This acquisition creates increased scale, expanded global support, and unified motion control solutions,” said John Payne, CEO of Kinematics. “By combining our strengths, we’re setting new standards for intelligent solar tracking technology. Our expanded portfolio of solutions will improve solar plant production, increase reliability, and enhance value to accelerate the growth and adoption of solar energy on a global scale.”

    “Our integration into Kinematics will enhance our business and create new opportunities for our team. Innovation is in our DNA, and we will continue providing disruptive solutions to our clients as well as excellent service,” said Aitor Alapont, CEO of P4Q.

    A cornerstone of the combined offering is P4Q’s revolutionary Self-Powered Plus (SPP) Controller Technology. This innovative solution eliminates the need for traditional pony panels, freeing up space on the tracker surface, and reducing both capital expenditure and installation complexity, while also offering superior power availability under low irradiance conditions.

    The acquisition builds on Kinematics’ recent innovations in motion control, including the breakthrough ST Series actuators launched in 2024. Featuring a maintenance-free design, the ST Series delivers up to 50% more holding torque in a smaller form factor, enhancing solar tracker performance and reliability – capabilities that will be further strengthened through the integration of both companies.

    “This milestone will create synergies, expand our portfolio of products and services, and optimize our global operations, undoubtedly providing a significant boost to all our business verticals,” said Noemí Pérez, Commercial Director at P4Q.

    The combined company will be headquartered in the U.S. with R&D in the U.S., Europe, and APAC. Kinematics will now have six manufacturing centers, including the U.S. and Europe, and seven service centers located globally.

    About Kinematics
    Founded in 1996, Kinematics is a global leader in precision motion control solutions, specializing in the design and manufacture of slew drives, slew rings, and actuation technology. With a strong focus on renewable energy, Kinematics supplies critical engineered systems, sensors, gears, and controllers that maximize the efficiency of solar installations worldwide, along with applications for the mobile industrial and satellite ground station sectors. The company is headquartered in Phoenix, Arizona, and operates globally with facilities in Asia and North America.

    About P4Q
    P4Q is a premier provider of IoT solutions, specializing in electronic devices, communication technologies, and cloud-based monitoring for solar tracking systems, medical diagnostic equipment, and more. The company also supports industries such as railway and industrial electronics. Renowned for its commitment to innovation and high-performance solutions, P4Q has established a strong reputation for excellence, particularly in the solar energy sector. Headquartered in Spain, P4Q serves clients across Europe, the Americas, and beyond.

    Press Contact:
    Matt Clarke
    matt@teamsilverline.com
    301.467.7332

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a835f342-87fb-45f3-a382-21134f6fc8a4

    The MIL Network –

  • MIL-OSI Economics: Grenada: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Grenada

    Source: International Monetary Fund

    Summary

    Through end-June 2024, Grenada’s economy was experiencing sustained strong growth supported by buoyant tourism, moderating inflation, and a narrowing current account deficit. A surge in Citizenship-by-Investment (CBI) revenue supported a strong improvement in budget balances, a build-up of government deposits, and a reduction in public debt. On July 1, Hurricane Beryl caused damage in excess of 16 percent of GDP on the Grenadian islands of Carriacou and Petite Martinique, as well as in the northern parishes of the main island, affecting around 15 percent of the population. In response, the authorities triggered the suspension of fiscal rules to permit temporary deficit spending in support of the recovery and reconstruction.

    Subject: Credit bureaus, Debt sustainability, Economic sectors, Environment, External debt, Financial institutions, Financial markets, Imports, Insurance, International trade, Labor, Labor markets, Natural disasters, Public debt, Tourism

    Keywords: Credit bureaus, Debt sustainability, Fiscal stance, Imports, Insurance, Insurance companies, Labor markets, Natural disasters, Tourism

    MIL OSI Economics –

  • MIL-OSI Economics: IMF Executive Board Concludes 2024 Article IV Consultation with Grenada

    Source: International Monetary Fund

    February 4, 2025

    Washington, DC: On January 24, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Grenada.

    Through end-June 2024, Grenada’s economy was experiencing sustained strong growth supported by buoyant tourism, moderating inflation, and a narrowing current account deficit. A surge in Citizenship-by-Investment (CBI) revenue supported a strong improvement in the fiscal position and reduction in public debt. The financial system remained stable. On July 1, Hurricane Beryl caused damage in excess of 16 percent of GDP on the Grenadian islands of Carriacou and Petite Martinique, as well as in the northern parishes of the main island. The authorities responded swiftly with a package of fiscal measures, including suspension of fiscal rules to permit temporary deficit spending in support of the recovery and reconstruction.

    Grenada’s near-term economic growth is projected to remain resilient at 3.9 percent in 2025, buoyed by limited hurricane damages to tourism infrastructure and the authorities’ large recovery and reconstruction spending. Sizable government savings and triggering of disaster-contingent instruments create fiscal space for these spending needs. Assuming a subsequent timely return to the fiscal rules, public debt is projected to continue falling and reach the debt target of 60 percent of GDP by 2030.

    Over the medium-term GDP growth is projected to slow given the tourism sector operates near its peak-season capacity. Key downside risks include the threat of further natural disasters, potential shocks to tourism demand, and the uncertain scale of future CBI inflows, while the domestic non-bank financial system faces rising vulnerabilities from the continued rapid expansion of credit unions and the rising costs of property insurance. Prospective hotel developments and public investment projects represent upside risks to the medium-term growth outlook.

    Executive Board Assessment[2]

    Executive Directors agreed with the thrust of the staff appraisal. They welcomed Grenada’s robust economic performance in 2023 and the first half of 2024, buoyed by strong tourism. Directors also commended the authorities’ swift and prudently tailored response to Hurricane Beryl, which supported disaster-relief and helped mitigate the impact on economic growth. Noting that the medium-term outlook remains subject to risks from natural disasters, uncertain Citizenship-by-Investment (CBI) flows, and other external shocks, they encouraged the authorities to exercise continued fiscal prudence and to pursue structural reforms to boost long-term growth and enhance resilience, while leveraging Fund technical assistance.

    Directors welcomed Grenada’s commitment to fiscal prudence and debt sustainability and emphasized the importance of a timely return to the suspended fiscal rules. In that context, they noted the need for continued expenditure prioritization and revenue mobilization to create fiscal space for future investment needs, including for climate resilience. Further strengthening public investment management and budget planning processes would also be important. Directors also saw merit in developing a more uniform framework for managing all CBI resources and encouraged continued progress in resolving outstanding official arrears.

    Directors welcomed the banking system’s resilience despite repeated shocks. They emphasized the need for vigilance and strengthened oversight in the rapidly expanding credit union sector. Directors encouraged strengthening data collection and regional collaboration in the property insurance sector, given rising premiums. They also agreed that further enhancements in the AML/CFT frameworks are essential, including to safeguard correspondent banking relationships.

    Directors commended the authorities’ implementation of Grenada’s Disaster Resilience Strategy including investments in a risk-layering framework of disaster-contingency insurance and financing instruments. Moving forward and noting the risk of future natural disasters, they emphasized the importance of further advancing the energy transition and investment in disaster resilient infrastructure, with support from private financing.

    Directors also encouraged sustained structural reform efforts to foster long-term growth, including investing in active labor market policies and continuing efforts to support off-season and niche tourism. Addressing data gaps is also important.

    It is expected that the next Article IV Consultation with Grenada will be held on the standard 12-month consultation cycle.

    Table 1. Grenada: Selected Social and Economic Indicators, 2019–29

     

    Rank in UNDP Human Development Index

    73

    Infant mortality rate per ‘000 births (2021)

    14.4

    out of 189 countries (2021)

    Adult illiteracy rate in percent (2014)

    1

    Life expectancy at birth in years (2021)

    75

    Poverty rate in percent of population (2019)

    25

    GDP per capita in US$ (2021)

    10,449

    Population in millions (2021)

    0.13

    Unemployment rate (2021 Q2)

    11.1

     

    2019

    2020

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    Est.

    Proj.

    National income and prices

     

     

     

     

     

     

     

     

     

     

     

    GDP at constant prices

    0.7

    -13.8

    4.7

    7.3

    4.7

    3.6

    3.9

    3.3

    2.7

    2.7

    2.7

    GDP deflator

    3.3

    -0.3

    2.8

    2.2

    2.7

    1.4

    1.4

    2.0

    2.0

    2.0

    2.0

    Consumer prices, end of period

    0.1

    -0.8

    1.9

    2.9

    2.2

    1.2

    1.9

    2.0

    2.0

    2.0

    2.0

    Money and credit, end of period

    Credit to private sector

    1.4

    3.1

    3.8

    2.1

    3.8

    3.8

    4.2

    4.4

    4.6

    4.5

    4.5

    Broad money (M2)

    2.9

    9.1

    8.5

    9.9

    1.4

    3.7

    5.2

    5.4

    4.8

    4.8

    4.8

    Central government balances (accrual)

    Revenue and grants

    26.6

    28.1

    31.5

    32.7

    36.9

    44.1

    30.5

    29.3

    29.2

    28.9

    28.8

    Expenditure

    21.6

    32.7

    31.2

    31.8

    28.9

    39.5

    39.4

    33.1

    29.6

    29.2

    28.9

    o.w. Capital expenditure

    2.6

    9.6

    8.6

    10.2

    9.3

    11.7

    12.2

    8.7

    6.2

    5.8

    5.6

    Primary balance

    6.8

    -2.6

    2.1

    2.6

    9.5

    8.0

    -5.1

    -1.2

    1.5

    1.5

    1.5

    Overall balance

    5.0

    -4.5

    0.3

    1.0

    8.0

    4.7

    -8.9

    -3.8

    -0.4

    -0.3

    -0.1

     

    Central government debt (incl. guaranteed) 1/

    58.5

    71.4

    70.0

    62.8

    60.5

    59.3

    58.1

    53.9

    53.2

    51.4

    49.6

    Domestic

    14.6

    16.2

    15.3

    12.8

    11.3

    11.1

    9.7

    7.8

    7.1

    6.9

    7.0

    External

    44.0

    55.2

    54.7

    50.0

    49.2

    48.2

    48.5

    46.1

    46.0

    44.5

    42.6

    Public debt (incl. debt of SOEs and SBs)

    62.7

    89.5

    86.6

    78.8

    75.2

    73.3

    71.4

    66.5

    65.2

    62.9

    60.6

    Savings-Investment balance

    -10.4

    -16.1

    -14.5

    -11.0

    -9.1

    -13.1

    -13.8

    -10.6

    -9.9

    -9.1

    -9.1

    Savings

    14.6

    16.3

    15.6

    18.0

    30.8

    28.3

    18.1

    17.8

    15.8

    15.3

    14.9

    Investment

    24.9

    32.4

    30.1

    29.1

    39.9

    41.5

    31.9

    28.4

    25.7

    24.5

    24.0

    External Sector

     

     

     

     

     

     

    Gross international reserves (millions of dollars)

    234.1

    290.9

    324.2

    352.6

    389.1

    435.1

    364.5

    364.8

    390.3

    405.6

    424.6

    (in months of imports)

    5.2

    5.6

    4.9

    5.0

    4.8

    5.2

    4.3

    4.2

    4.3

    4.3

    4.3

    Current account balance, o/w:

    -10.4

    -16.1

    -14.5

    -11.0

    -9.1

    -13.1

    -13.8

    -10.6

    -9.9

    -9.1

    -9.1

    Exports of goods and services

    54.6

    41.1

    47.9

    57.8

    62.8

    63.8

    62.5

    62.8

    63.0

    62.6

    62.3

    Imports of goods and services

    55.8

    52.2

    55.4

    64.3

    63.7

    69.9

    68.5

    65.6

    65.0

    63.8

    63.4

    External debt (gross)

    64.7

    92.5

    94.8

    90.0

    86.9

    85.4

    85.4

    82.6

    82.3

    80.5

    78.4

    Sources: Ministry of Finance; Eastern Caribbean Central Bank; United Nations, Human Development Report; World Bank WDI; and IMF staff estimates and projections.

    1/ Includes the impact of the debt restructuring agreement for the 2025 bonds.

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

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

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Meera Louis

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

    MIL OSI Economics –

  • MIL-OSI Security: Defense News: FRCE supports Marine F-35 recovery training

    Source: United States Navy

    How does a Marine Corps unit train to recover a downed fighter, when no downed fighter is available to recover? At Fleet Readiness Center East (FRCE), a unique depot training asset helped Marines gain real-world experience in recovering a damaged F-35B Lightning II without risking harm to an operational aircraft.

    FRCE recently partnered with Marine Wing Support Squadron 271 (MWSS-271) to assist with the squadron’s F-35 familiarization and aircraft salvage and recovery training. The collaboration with FRCE allowed MWSS-271 access to a stripped-down F-35 airframe used for training and testing at the depot, along with the knowledge and expertise provided by FRCE artisans and engineers who support the F-35 modification program.

    According to Chief Warrant Officer 2 Joseph Durand, the MWSS-271 Heavy Equipment Platoon leader who also serves as the squadron’s salvage and recovery officer, the three-day training simulated the recovery of an F-35 with collapsed front landing gear. The event consisted of three phases: learning proper F-35 lifting procedures through an introductory crane lift; stowing the front landing gear and using the crane to rest the aircraft’s nose on a temporary structure to simulate landing gear failure; and finally, establishing a controlled recovery site and recovering the aircraft.

    While the training event simulated one specific set of circumstances, Durand said it included techniques that can be implemented in a wide variety of recovery scenarios, both in garrison environments and at forward locations. 

    “Recovery has so many different scenarios, and the F-35 is a fairly new aircraft; recovery on this platform hasn’t really been conducted in a broad manner across the Marine Corps,” Durand explained. “We’re training to educate on how pertinent it is to be able to recover an F-35, the practices that go into that recovery and the hazards that come along with it. We’re really stressing the need for that aircraft to be able to get back into the air and do its job.

    “What we’re looking forward to is being able to conduct this same recovery scenario, whether it be a front landing gear that went down or something more catastrophic, no matter where it happens,” he continued. “We need to be able to get that bird back into the fight, and do it in a safe manner that doesn’t harm the aircraft or the individuals working to recover it.”

    FRCE’s ability to provide a nonoperational airframe for use in the Marines’ training offered the squadron unique advantages, said F-35 Branch Head Ike Rettenmair.

    “Having an asset like this airframe on hand is really beneficial in terms of allowing for training without the concern of potentially damaging an operational aircraft,” he said. “While you plan for everything to go perfectly during a training event, there’s always the chance that mistakes could be made; that’s why there’s training in the first place, to provide that learning experience.

    “Using an airframe that isn’t an operational aircraft helps provide a real-world, hands-on experience – everything looks, feels and moves the same – without the added pressure that comes from working with an aircraft that needs to be back on the flight line the later that day,” Rettenmair added.

    Working with MWSS-271 to support the squadron’s activities also benefitted the FRCE team, Rettenmair explained. 

    “Supporting MWSS-271’s training not only allowed their Marines to advance their F-35 aircraft recovery skills, it also gave our team the opportunity to sharpen their expertise while serving as subject-matter experts,” he said. “Developing a way to simulate a landing gear failure, for example, presented a challenge that the team proved ready to tackle. Teaching the Marines the proper way to crane lift the aircraft provided our artisans and engineers the opportunity to refresh their skills, as well. This really was a win-win situation for everyone involved.”

    Durand agreed that the partnership between the squadron and FRCE yielded positive outcomes.

    “It’s extremely effective for us to drive just 15 minutes down the road to FRC East and be able to execute training with all of our partners in the warfighting effort,” he said. “It makes it extremely reliable for us to be able to conduct additional training as scenarios start to develop across the nation and around the world.”

    The F-35 airframe used in this exercise, which arrived to FRCE in early 2021, has also seen use as a training aid in the depot. Its status as a readiness enhancer is not limited to supporting recovery training.

    “We have also used the airframe for artisan and engineer training at FRC East, although the depot maintenance environment is definitely different than an operational unit,” Rettenmair said. “For us, the airframe serves as a training aid that helps us improve processes and procedures, which can in turn drive down the modification turnaround times and enable us to return completed aircraft to the fleet sooner than planned.”

    FRCE is the lead site for depot-level maintenance on the F-35B Lightning II and has conducted modifications and repair on the Marine Corps’ short takeoff-vertical landing variant of the aircraft since 2013. The depot also performs work on the Navy’s F-35C carrier variant and the Air Force’s conventional takeoff and landing F-35A variant.

    FRCE is North Carolina’s largest maintenance, repair, overhaul and technical services provider, with more than 4,000 civilian, military and contract workers. Its annual revenue exceeds $1 billion. The depot provides service to the fleet while functioning as an integral part of the greater U.S. Navy; Naval Air Systems Command; and Commander, Fleet Readiness Centers.

    MIL Security OSI –

  • MIL-OSI United Kingdom: Ending Violence Against Women and Girls Council inviting applications for Change Fund (Tier three)

    Source: Northern Ireland – City of Derry

    Ending Violence Against Women and Girls Council inviting applications for Change Fund (Tier three)

    4 February 2025

    In September 2024, the Northern Ireland Executive, led by the Executive Office (TEO) launched the Ending Violence Against Women and Girls (EVAWG) Strategic Framework 2024-2031. The Strategic Framework has been co-designed with people and organisations from right across government and society, representing different backgrounds and perspectives, including those with lived experiences.

    The Change Fund is a fundamental part of delivering the EVAWG Strategic Framework and also focuses on the Prevention Outcomes;

    • Challenging attitudes, behaviours and culture
    • Education on healthy and respectful relationships and
    • Ensuring Women and Girls feel safe and are safe everywhere

    It’s part of a wider £3.2m investment for Ending Violence Against Women and Girls (EVAWG) Local Change Fund announced by the First Minister and deputy First Minister last month in which £2m has been made available across the 11 Councils in Northern Ireland, of which £165k has been allocated to Derry and Strabane.

    Derry City and Strabane District Council has announced that its Ending Violence Against Women and Girls Change Fund 2025-26 (Tier three) is now open for applications.

    As part of the allocation to Derry City and Strabane District Council £50,000 has been allocated to Tier three Change Fund Grants Grant between £15,001 and up to £25,000 to support significant programme of activity which include collaboration with and/or mentoring/ support to other community-based organisations.

    Derry City and Strabane District Council is inviting applications from not-for-profit community and voluntary organisations across the Council area who can deliver significant programmes of activity aimed at ending violence against women and girls.

    Applications will be open at 10:00am on Monday 3rd February 2025 and close at 3:00pm on Friday 21st February 2025

    Mayor of Derry City and Strabane District Council, Cllr Lilian Seenoi Barr said the funding is vital to support Community & Voluntary organisations working at grassroots level to play their part in helping to end the epidemic of violence against women and girls.

    “I am very pleased that the Local Change Fund grant aid provided by The Executive Office will provide funding to our local community organisations to play a proactive role in educating communities and promoting safe and healthy relationships and environments for women and children to feel safe.”

    For more information on the fund and to apply for the grant visit – https://www.dcsdcgrantaid.com/

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: IXCHIQ vaccine approved to protect adults against Chikungunya

    Source: United Kingdom – Government Statements

    The Medicines and Healthcare products Regulatory Agency (MHRA) has today, 4 February 2025, approved the vaccine chikungunya vaccine (live) (brand name IXCHIQ) to protect adults against chikungunya disease, caused by the chikungunya virus (CHIKV).

    CHIKV is found in the subtropical regions of the Americas, Africa, Southeast Asia, India, and the Pacific Region, and is spread to humans by the bite of an infected mosquito (Aedes aegypti and Aedes albopictus). It cannot be passed from human to human.  

    The majority of people infected with CHIKV develop a sudden fever and severe pain in multiple joints. Other symptoms may include headache, muscle pain, joint swelling, or rash. These symptoms typically resolve within 7 to 10 days, and most patients make a full recovery. However, in some cases joint pain and arthritis may persist for several months or even years. Occasional cases of eye, neurological and heart complications have been reported, as well as gastrointestinal complaints.  

    Chikungunya vaccine has been approved for use as a prophylaxis against chikungunya disease. The vaccine contains a form of the virus that has been weakened in the laboratory so it cannot multiply. The vaccine works by training the immune system (the body’s natural defences) to recognise CHIKV and it is then able to produce specific antibodies which attack the virus. 

    Julian Beach, MHRA Interim Executive Director of Healthcare Quality and Access, said:

    Patient safety is our top priority, which is why I am pleased to confirm approval of the first vaccine in the UK to protect adults 18 years and older against Chikungunya disease.  It is given as a single dose. 

    While mostly endemic to tropical and subtropical regions of Africa, Southeast Asia, and parts of the Americas, the virus has been detected in small numbers in new geographical areas including parts of Europe. It is therefore important we are prepared for potential further spread.  

    This approval is another demonstration of our commitment to supporting the UK in its efforts toward global pandemic preparedness.  

    As with all products, we will keep its safety under close review.

    The recommended dose of chikungunya vaccine (live) can only be obtained via a prescription. 
     
    The benefits of chikungunya vaccine (live) were assessed in two main studies involving around 4,500 adults. In one main study, over 4,000 people were given the vaccine or a placebo (a dummy treatment).

    The aim of the study was to determine whether the vaccine would trigger the immune system to produce a level of antibodies that, based on pre-clinical studies and information from people previously exposed to the virus who had developed immunity, is expected to provide protection.

    Results showed that 99% of participants who received chikungunya vaccine (live) had the required level of antibodies after one month, compared with none of those who received placebo. Follow-up data showed that two years after vaccination, this target level was maintained in 97% of people who received the vaccine.  

    During clinical studies, the most common side effects with   chikungunya vaccine (live) (which may affect more than 1 in 10 people) include leucopenia, neutropenia and lymphopenia (low levels of white blood cells, including neutrophils and lymphocytes, as seen in blood tests), headache, fatigue, myalgia (muscle pain),  joint pain (arthralgia), elevated liver enzymes as seen in blood tests, fever, nausea (feeling sick), and tenderness, pain, erythema (redness), induration (hardening) or swelling at the site of injection.

    As with any medicine, the MHRA will keep the safety and effectiveness of the vaccine under close review.   

    Anyone who suspects they are having a side effect from this vaccine are encouraged to talk to their doctor, pharmacist or nurse and report it directly to the Yellow Card scheme, either through the website (https://yellowcard.mhra.gov.uk/) or by searching the Google Play or Apple App stores for MHRA Yellow Card.    

     ENDS    

    Notes to editors    

    • The new marketing authorisation was granted on 4 February 2025 to VALNEVA AUSTRIA GMBH

    • The vaccine has been approved by the MHRA under the International Recognition Procedure, after confirming it meets the UK regulator’s standards of safety, quality, and effectiveness. 

    • More information can be found in the Summary of Product Characteristics and Patient Information leaflets which will be published on the MHRA Products website within 7 days of approval.  

    • The Medicines and Healthcare products Regulatory Agency (MHRA) is responsible for regulating all medicines and medical devices in the UK by ensuring they work and are acceptably safe.  All our work is underpinned by robust and fact-based judgements to ensure that the benefits justify any risks.  

    • The MHRA is an executive agency of the Department of Health and Social Care.  

    For media enquiries, please contact the newscentre@mhra.gov.uk, or call on 020 3080 7651.

    Updates to this page

    Published 4 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: CFTC Staff Issues No-Action Letter to Korea Exchange Concerning the Offer or Sale of KOSPI and Mini KOSPI 200 Futures Contracts

    Source: US Commodity Futures Trading Commission

    CFTC Staff Issues No-Action Letter to Korea Exchange Concerning the Offer or Sale of KOSPI and Mini KOSPI 200 Futures Contracts | CFTC

    /PressRoom/PressReleases/9043-25
    Skip to main content

    February 04, 2025

    WASHINGTON, D.C. — The Commodity Futures Trading Commission’s Division of Market Oversight today issued a no-action letter stating it will not recommend the CFTC take enforcement action against Korea Exchange (KRX) for the offer or sale of Korea Composite Stock Price Index (KOSPI) 200 Futures Contracts and Mini KOSPI 200 Futures Contracts to persons located within the United State while the Commission’s review of KRX’s forthcoming request for certification of the contracts under CFTC Regulation 30.13 is pending. DMO issued similar letters when the KOSPI 200 became a broad-based security index in 2021 and 2022. [See CFTC Press Release Nos. 8464-21 and 8610-22]
    The KOSPI 200 became a narrow-based security index in February 2024. Futures contracts on narrow-based security indexes are subject to joint CFTC and Securities and Exchange Commission jurisdiction. Futures contracts on non-narrow-based (also known as broad-based) security indexes are subject to exclusive CFTC jurisdiction.
    The KOSPI 200 is set to become a broad-based security index on February 6, 2025, and the no-action position in DMO’s letter will be effective on that date. 

    -CFTC-

    MIL OSI USA News –

  • MIL-OSI Security: Athabasca — Athabasca RCMP dismantle large scale chop shop make major recovery of stolen property – Update 2

    Source: Royal Canadian Mounted Police

    Athabasca RCMP respectfully requests that members of the public refrain from contacting Athabasca Detachment to inquire about potential found property. We understand the interest in recovering stolen items, and we are committed to ensuring property is returned to its rightful owners. RCMP investigators are currently in the process of identifying and cataloging recovered property, including vehicles and equipment. Owners will be contacted directly by police.

    Thank you for your cooperation as we continue this complex investigation. We remain committed to addressing property crime and protecting our communities.

    Background:

    Jan. 2, 2025

    Athabasca RCMP dismantle large scale chop shop make major recovery of stolen property – Update

    Athabasca RCMP has successfully recovered a substantial quantity of stolen property valued in the multi-million-dollar range as part of an ongoing investigation into rural property crime.

    On Dec. 29, 2024, Athabasca RCMP received a report from a member of the public that their vehicle had been stolen. The vehicle’s GPS tracking system indicated that it was located at a rural property, located on Township Road 670.5. Officers from Athabasca RCMP, K Division Auto Theft Unit, Eastern Alberta District (EAD) Crime Reduction Unit, and EAD General Investigations Section attended the property, and during their investigation and subsequent search warrant discovered a large number of stolen items including:

    • Multiple stolen vehicles, including semi-trucks and trailers
    • Off-road vehicles such as quads
    • Heavy equipment and parts

    Further investigation revealed evidence that the property was being used as a “chop shop”, where stolen vehicles and equipment were dismantled and repurposed for illegal resale.

    A 36-year-old individual, a resident of Athabasca, has been charged with the following offences:

    • Possession of property obtained by crime over $5000
    • Alter/destroy/remove a Vehicle Identification Number

    The 36-year-old individual was taken before a justice of the peace and was released with conditions. He is scheduled to appear in court on Jan. 27, 2025, at the Alberta Court of Justice in Athabasca.

    This recovery reflects the ongoing dedication of the RCMP to address property crime, particularly in rural areas where these thefts have significant impacts on residents and businesses. “The successful recovery of millions of dollars’ worth of stolen property, including semi-trucks, trailers, RV’s, and construction and oilfield equipment, highlights the critical role of community collaboration in combating property crime.” said S/Sgt. Mark Hall, Athabasca RCMP Detachment Commander. “Thanks to the diligence of a vigilant property owner who tracked their missing equipment and the meticulous investigation by the Athabasca RCMP members, we were able to uncover and recover this significant cache of stolen assets. This operation serves as a powerful example of how community members and law enforcement working together can achieve remarkable results in protecting property and holding offenders accountable.”

    As part of our commitment to addressing property crime, the RCMP would like to share the following tips that can aid in decreasing the risk of becoming a victim of property crime.

    • Store valuables out of sight and in secure locations
    • Secure vehicles and equipment with high-quality locks and immobilizers
    • Use GPS tracking devices on vehicles and heavy equipment
    • Install proper lighting and surveillance cameras on properties
    • Regularly document and photograph property, including serial numbers and other unique identifiers.

    If you have any information regarding property crime within the area of Athabasca please contact Athabasca RCMP at 780-675-4252. If you wish to remain anonymous, you can contact Crime Stoppers at 1-800-222-8477 (TIPS), online at www.P3Tips.com or by using the “P3 Tips” app available through the Apple App or Google Play Store. To report crime online, or for access to RCMP news and information, download the Alberta RCMP app through Apple or Google Play.

    MIL Security OSI –

  • MIL-OSI Security: High Prairie — High Prairie RCMP locate wanted male

    Source: Royal Canadian Mounted Police

    On Jan. 9, 2025, High Prairie RCMP began a project to target offenders on warrant in the area of High Prairie and utilized resources including Faust RCMP, Western Alberta Crime Reduction Unit (WAD CRU), the Provincial Crime Reduction Team (CRT), Alberta’s Emergency Response Team (ERT), High Level and Grande Prairie Police Dog Services (PDS), and RCMP Air Services.

    A 28-year-old individual, a resident of Atikameg, Alta., was located with a stolen vehicle in a forested area; all RCMP units were engaged, and the individual fled on foot.

    Police Dog Peyak, tracked the individual to a residence. All occupants exited the home safely before the individual was located and then arrested, inside the home, with no further incident.

    The individual was charged with 19 offenses, including:

    • Operating a motor vehicle while prohibited x3
    • Flight from police officer
    • Resist/obstruct police officer
    • Possession of property obtained by crime
    • Dangerous operation of motor vehicle
    • Failure to comply with probation order x2
    • Take motor vehicle without consent
    • Firearms offences x 12
    • Additionally, Grey was arrested for his 29 warrants

    The individual was brought before a justice of the peace, where he was remanded with a court date of Jan. 20, 2025, at the Alberta Court of Justice in High Prairie.

    Additionally, RCMP seized several weapons, a firearm and an assortment of ammunition.

    The High Prairie RCMP is seeking the public’s assistance in identifying the location of, or sightings of wanted persons or suspicious criminal behaviour in the area. Anyone with information in relation to this incident is asked to please contact the High Prairie RCMP at 780-523-3378 or your local police. If you wish to remain anonymous, you can contact Crime Stoppers at 1-800-222-8377 (TIPS), online at www.P3Tips.com or by using the “P3 Tips” app available through the Apple App or Google Play Store.

    MIL Security OSI –

  • MIL-OSI Security: New Bedford Man Sentenced to Three Years in Prison for Fentanyl Conspiracy

    Source: Office of United States Attorneys

    BOSTON – A New Bedford man was sentenced yesterday in federal court in Boston for conspiracy to distribute and possess with intent to distribute fentanyl.

    Vinicio DeJesus Marrero Arias, 40, was sentenced by Chief U.S. District Court Chief Judge F. Dennis Saylor IV to three years in prison, to be followed by three years of supervised release. Arias will also be subject to deportation upon completion of his sentence. In October 2024, Arias pleaded guilty to one count of conspiracy to distribute and possess with intent to distribute fentanyl.

    Following an investigation into fentanyl trafficking in and around the Lord Phillips Apartments in New Bedford, Arias was identified as fentanyl distributors in the area. A search of Arias’ residence, as well as an apartment that was being used as a stash location and two storage units rented on behalf of Arias’s co-conspirator, Yohenry Contreras-Lara, resulted in the recovery of more than several hundred grams of fentanyl and $1.2 million in cash in suspected drug proceeds.

    Contreras-Lara pleaded guilty in November 2024 and is scheduled to be sentenced on March 3, 2025.

    United States Attorney Leah B. Foley; Stephen Belleau, Acting Special Agent in Charge of the Drug Enforcement Administration, New England Field Division; and Bradley Parker, Acting Special Agent in Charge of the Social Security Administration, Office of Inspector General, Office of Investigations, Boston Field Division made the announcement today. Valuable assistance was provided by the Bristol County District Attorney’s Office and the New Bedford Police Department. Assistant U.S. Attorney Evan Panich of the Narcotics & Money Laundering Unit is prosecuting the case.
     

    MIL Security OSI –

  • MIL-OSI Security: Jury finds local man guilty of crimes involving 2 local drug-related murders

    Source: Office of United States Attorneys

    CINCINNATI – A jury found a local man guilty on all counts for crimes related to two murders in Cincinnati during the summer of 2021. 

    Jamal Binford, 33, of Dallas and Cincinnati, was convicted of five counts as charged in a second superseding indictment. The verdict was announced yesterday afternoon following a trial that began on Jan. 15 before Senior U.S. District Judge Michael R. Barrett.

    According to court documents and trial testimony, Binford purported to manage two co-defendants as boxers, presenting himself as a boxing manager helping young men he wanted to help off the streets. Instead, he directed them to sell fentanyl and marijuana and, after assisting the coconspirators following one murder, he directed a second murder.

    Co-defendants Antwan Coach, Jr., 22, of Cincinnati, and Markel Hardy, 23, of Cincinnati, robbed and murdered Kamar Williams on July 5, 2021, in North College Hill. It is alleged Coach and Hardy robbed Mr. Williams of marijuana and a firearm and shot him to death.

    In August 2021, all three defendants conspired to murder a second victim, Deonte Nuckols, in St. Bernard in connection with a narcotics conspiracy involving 400 grams or more of fentanyl and five kilograms or more of cocaine.

    As the government outlined at trial, Binford paid the two other men to kill Mr. Nuckols, who had had been texting Binford that day about Binford paying a drug debt.

    Binford was arrested in February 2023 at the Dallas Fort Worth International Airport.

    The narcotics conspiracy in this case includes 400 grams or more of fentanyl, five kilograms or more of cocaine, and 100 kilograms or more of marijuana.

    Binford faces a mandatory minimum prison sentence of 20 years and up to life in prison for participating in the narcotics conspiracy, being an accessory after the fact, murder in connection with the drug trafficking conspiracy, use of a firearm during and in relation to a crime of violence, and use of a firearm to commit murder.

    Kenneth L. Parker, United States Attorney for the Southern District of Ohio; Daryl S. McCormick, Special Agent in Charge, U.S. Bureau of Alcohol, Tobacco, Firearms & Explosives (ATF); Cincinnati Police Chief Teresa A. Theetge; North College Hill Police Chief Ryan Schrand; and St. Bernard Police Chief Michael Simos announced the verdicts. The Justice Department’s Office of International Affairs of the Department’s Criminal Division also aided during the investigation.

    Assistant United States Attorneys Ashley N. Brucato and OCDETF Deputy Criminal Chief Frederic C. Shadley represented the United States in this case.

    # # #

    MIL Security OSI –

  • MIL-OSI Security: Mexican National Sentenced for Illegal Re-Entry by a Removed Alien

    Source: Office of United States Attorneys

    NEW ORLEANS – MAURILIO JASTINTO-JUAREZ (“JASTINTO-JUAREZ”), age 50, a citizen  of Mexico, was sentenced on  January 27, 2025 for illegal reentry by a removed alien, in violation of Title 8, United States Code, Section 1326(a), announced U.S. Attorney Duane A. Evans.  He was sentenced to (6) six months imprisonment, (1) one year of supervised release and a $100.00 mandatory special assessment fee. 

    According to court documents, JASTINTO-JUAREZ, illegally reentered the United States after being previously removed on December 16, 2022.  JASTINTO-JUAREZ was discovered in the United States when the Department of Homeland Security (DHS) systems became alerted to his presence via the collection of his  fingerprints by the Louisiana State Police (“LSP”).  The LSP obtained his fingerprints subsequent to their arrest of him for driving while intoxicated in Houma, La. on March 17, 2024.

    U.S. Attorney Evans praised the work of the United States Immigration and Customs Enforcement, the Louisiana State Police, and the Terrebonne Sherriff’s Office in investigating this matter. Assistant U.S. Attorney Carter K.D. Guice, Jr. of the General Crimes Unit is in charge of the prosecution.

    MIL Security OSI –

  • MIL-OSI Security: New York City Resident Sentenced to Six Years of Prison for Role in Interstate Methamphetamine Trafficking Operation

    Source: Office of United States Attorneys

    JOHNSTOWN, Pa. – A resident of Queens, New York, was sentenced in federal court to six years of imprisonment on his conviction for violating federal narcotics laws related to a six-month Title III wiretap investigation into drug trafficking in and around Blair, Cambria, Centre, and Clearfield counties of Pennsylvania, Acting United States Attorney Troy Rivetti announced today.

    United States District Judge Stephanie L. Haines imposed the sentence on Timothy Paz, 32, on January 21, 2025, also ordering that Paz serve three years of supervised release following his incarceration.

    According to information presented to the Court, Paz was a courier who transported approximately seven pounds of methamphetamine from the New York City area to Altoona, Pennsylvania, on behalf of a large-scale narcotics supplier.  Paz also transported large amounts of United States currency representing payment for the methamphetamine from an Altoona-based narcotics distributor to the supplier.

    Assistant United States Attorney Jonathan D. Lusty prosecuted this case on behalf of the government.

    Acting United States Attorney Rivetti commended the Drug Enforcement Administration, United States Postal Service – Office of Inspector General, United States Postal Inspection Service, Homeland Security Investigations, Internal Revenue Service, Pittsburgh Bureau of Police, and Pennsylvania State Police for the investigation leading to the successful prosecution of Paz.  

    This prosecution is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation.  OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks.
     

    MIL Security OSI –

  • MIL-OSI: Portfolio Update: Sale of portfolio company Hospital Services Group delivers up to 8.5x return for Foresight VCT PLC

    Source: GlobeNewswire (MIL-OSI)

    The Board of Foresight VCT Plc (the “Company”) is pleased to announce the successful sale of portfolio company Hospital Services Group Limited (“HSL”), a leading healthcare equipment distributor and service provider operating in Ireland, Northern Ireland and Great Britain.

    The transaction generated proceeds of £26.2 million at completion with potential for a further up to £1.0 million over the coming years, implying a return and IRR of up to 8.5 times the original investment and 25.7% respectively. Prior to the sale of HSL, the Company’s NAV per ordinary share stood at 80.1p, to which the exit will add 1.7p, giving a pro forma NAV per ordinary share of 81.8p.

    Since the original investment, the manager, Foresight Group LLP, has taken a proactive approach to supporting HSL and the business has successfully completed a series of acquisitions, broadened and strengthened the management team and expanded the range of healthcare equipment and services provided Ireland, Northern Ireland and Great Britain.

    Headcount has increased almost sixfold since Foresight’s initial investment, with revenues increasing approximately ninefold.

    Margaret Littlejohns, Chair of Foresight VCT Plc said: “HSL has grown into a market-leading healthcare company in the UK and Ireland.  With Foresight Group’s support, both financial and strategic, it has made a series of value-enhancing acquisitions and delivered strong organic growth.  We are delighted with this performance and wish the team every success in the future.”

    The MIL Network –

  • MIL-OSI: Portfolio Update: Sale of portfolio company Hospital Services Group delivers up to 8.4x return for Foresight Enterprise VCT PLC

    Source: GlobeNewswire (MIL-OSI)

    The Board of Foresight Enterprise VCT Plc (the “Company”) is pleased to announce the successful sale of portfolio company Hospital Services Group Limited (“HSL”), a leading a leading healthcare equipment distributor and service provider operating in Ireland, Northern Ireland and Great Britain.

    The transaction generated proceeds of £9.3 million at completion with potential for a further up to £0.4 million in the coming years, implying a return and IRR of up to 8.4 times the original investment and 25.7% respectively. Prior to the sale of HSL, the Company’s NAV per ordinary share stood at 54.3p, to which the exit will add 0.6p, giving a pro forma NAV per ordinary share of 54.9p.

    Since the original investment, the manager, Foresight Group LLP, has taken a proactive approach to supporting HSL and the business has successfully completed a series of acquisitions, broadened and strengthened the management team and expanded the range of healthcare equipment and services provided across Ireland, Northern Ireland and Great Britain

    Headcount has increased almost sixfold since Foresight’s initial investment, with revenues increasing approximately ninefold.

    Michael Gray, Chair of Foresight Enterprise VCT: “Hospital Services Group Limited has grown into a leading specialist healthcare distribution company, supplying and maintaining technology that play an essential role in early disease detection.

    “We are delighted with the progress the team has made since our initial investment. Highlights include a number of key strategic acquisitions, which have delivered impressive revenue and employment growth. We wish this entrepreneurial management team every success moving forward.”

    The MIL Network –

  • MIL-OSI Global: Psychology in democratic South Africa: new book explores a post-apartheid journey

    Source: The Conversation – Africa – By Liezille Jacobs, Associate Professor, Rhodes University

    Dr Liezille Jacobs’ book explores the experiences of South Africa’s first generation of post-apartheid Black psychologists. Photo by Dirk Pieters/cover concept Antonio Erasmus, CC BY-NC-ND

    When apartheid ended in 1994, South Africa underwent significant social and political transformation. A key aspect of this shift was the push for greater inclusion and representation of Black South Africans across all sectors – including psychology.

    Dr Liezille Jacobs was part of a pioneering generation of Black psychologists who started their training in 1995. Now she has written a book, Rocklands: On becoming the first generation of Black psychologists in post-apartheid South Africa. In it she explores the barriers she and her colleagues faced and unpacks misconceptions around what psychology is and does. She also argues that critical (and African) psychology can both “address the legacies of apartheid and heal the relational traumas caused by systemic oppression”. The Conversation Africa asked her about the book and her work.

    What is the book about?

    I wrote Rocklands to address the widespread misconceptions that both first-year psychology students and the general public often hold about what it truly means to be a psychologist. It’s common for people to oversimplify the profession. They view it merely as talking to people or offering quick-fix solutions to problems. The reality is far more complex.

    I wanted to challenge these superficial ideas and provide a more layered and accurate representation of the field. The process of becoming a psychologist is not just about acquiring theoretical knowledge. It’s also about developing emotional intelligence, critical thinking, and a strong ethical foundation. Psychologists must balance empathy with objectivity, personal insight with professional boundaries, all while navigating the vast complexities of human emotions, relationships, and societal influences.

    The goal of the book is to make psychological knowledge and expertise more accessible to the public.

    Rocklands is also an account of resilience and personal growth in the face of adversity. The first chapter reflects on my early experiences growing up in Rocklands, Mitchell’s Plain. Rocklands was established during apartheid as part of a government plan to segregate communities. Non-white South Africans were moved to areas like Mitchell’s Plain under the Group Areas Act. Over time, Rocklands grew into a working-class neighborhood, shaped by its apartheid-era history.

    The ensuing chapters provide a detailed account of my unique and often difficult journey. I’ve traversed a path less travelled but it’s ultimately led to personal and professional fulfilment.

    Why did you decide to study psychology?

    I initially dreamed of becoming a journalist. However, my parents encouraged me to explore other career options. The results of a career assessment suggested I should consider social work, occupational therapy or psychology.

    Psychology truly caught my attention. As someone with an introverted personality I was drawn to the idea of understanding human behaviour and thought processes on a deeper level. At the time, I envisioned myself working as a clinical psychologist, helping individuals one-on-one.

    Everything shifted when I began my formal studies in 1995. I quickly realised that the field of psychology in South Africa – especially in the context of its history – had much more work to do. I saw the gaps in the system and became acutely aware of how psychology had, in many ways, been complicit in perpetuating social injustices. In 1995, as a first year psychology student, I was made aware of the field’s struggle with its apartheid legacy and psychology’s unfinished business.

    Hendrik Verwoerd was the architect of the racist policies and segregation system that became known worldwide as “grand apartheid”. He was also a psychologist by training.

    Psychology in South Africa has made efforts to adapt to a diverse society. But there are still challenges. These include a disconnect between academic training and professional practice, and the lingering effects of apartheid-era inequalities.



    Read more:
    Being black in the world: a tribute to pioneering South African psychologist Chabani Manganyi

    South Africa desperately needed (and still does today) Critical Psychologists. Critical psychology challenges traditional psychological theories by examining the social, political, and historical contexts that shape psychological issues. It critiques mainstream psychology for overlooking power structures. And it aims to use psychology as a tool for social change and addressing inequalities.

    Critical psychologists challenge the dominant narratives of the past, address the legacies of apartheid, and have access to the tools to heal the relational traumas caused by systemic oppression. I knew I wanted to contribute to the transformation of the profession – to make it more inclusive, socially responsible, and oriented towards healing the wounds left by historical injustices. This shift in perspective has shaped my entire career. It’s guided my studies, research and teaching practice.

    Have South Africa’s universities changed how they teach psychology?

    The academic transformation project continues and universities are striving to adapt to a more diverse student body. But the pace and extent of this change can vary between institutions.

    There has been a growing recognition globally that psychology, as a discipline, needs to move beyond its traditional western-centric, individualistic frameworks. It must engage more deeply with local contexts and diverse ways of knowing and experiencing the world.

    I was the head of the Psychology Department at Rhodes University in South Africa’s Eastern Cape province from 2022 to 2024. The department has incorporated indigenous knowledge systems such as African philosophical perspectives and non-western psychological practices into our teaching.

    For example, community-based service-learning strategies are emphasised in the undergraduate courses I teach. Community-based service-learning combines community service with academic learning. This gives students the opportunity to engage in real-world problems and contribute to the community while applying psychological theories, concepts and methods. Students learn how to become engaged citizens.

    We also use a variety of teaching materials – case studies, texts by African scholars, multimedia – that resonate with students’ lived experiences.



    Read more:
    Decolonising psychology creates possibilities for social change

    In a society as culturally and racially diverse as South Africa it is crucial for people to see themselves reflected in the professionals they turn to for help. This can play a role in lowering barriers to mental health services.

    South Africa has a legacy of collective struggle and community resilience. Psychology stands to gain from a greater understanding of collective identities, community dynamics and social justice. Psychologists from diverse backgrounds can offer more nuanced, holistic interventions that address systemic issues rather than focusing solely on individual pathology.

    Liezille Jacobs receives funding from the Future Professors Programme for the Book publication.

    – ref. Psychology in democratic South Africa: new book explores a post-apartheid journey – https://theconversation.com/psychology-in-democratic-south-africa-new-book-explores-a-post-apartheid-journey-247699

    MIL OSI – Global Reports –

  • MIL-OSI Russia: IMF Executive Board Concludes 2024 Article IV Consultation with Grenada

    Source: IMF – News in Russian

    February 4, 2025

    Washington, DC: On January 24, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Grenada.

    Through end-June 2024, Grenada’s economy was experiencing sustained strong growth supported by buoyant tourism, moderating inflation, and a narrowing current account deficit. A surge in Citizenship-by-Investment (CBI) revenue supported a strong improvement in the fiscal position and reduction in public debt. The financial system remained stable. On July 1, Hurricane Beryl caused damage in excess of 16 percent of GDP on the Grenadian islands of Carriacou and Petite Martinique, as well as in the northern parishes of the main island. The authorities responded swiftly with a package of fiscal measures, including suspension of fiscal rules to permit temporary deficit spending in support of the recovery and reconstruction.

    Grenada’s near-term economic growth is projected to remain resilient at 3.9 percent in 2025, buoyed by limited hurricane damages to tourism infrastructure and the authorities’ large recovery and reconstruction spending. Sizable government savings and triggering of disaster-contingent instruments create fiscal space for these spending needs. Assuming a subsequent timely return to the fiscal rules, public debt is projected to continue falling and reach the debt target of 60 percent of GDP by 2030.

    Over the medium-term GDP growth is projected to slow given the tourism sector operates near its peak-season capacity. Key downside risks include the threat of further natural disasters, potential shocks to tourism demand, and the uncertain scale of future CBI inflows, while the domestic non-bank financial system faces rising vulnerabilities from the continued rapid expansion of credit unions and the rising costs of property insurance. Prospective hotel developments and public investment projects represent upside risks to the medium-term growth outlook.

    Executive Board Assessment[2]

    Executive Directors agreed with the thrust of the staff appraisal. They welcomed Grenada’s robust economic performance in 2023 and the first half of 2024, buoyed by strong tourism. Directors also commended the authorities’ swift and prudently tailored response to Hurricane Beryl, which supported disaster-relief and helped mitigate the impact on economic growth. Noting that the medium-term outlook remains subject to risks from natural disasters, uncertain Citizenship-by-Investment (CBI) flows, and other external shocks, they encouraged the authorities to exercise continued fiscal prudence and to pursue structural reforms to boost long-term growth and enhance resilience, while leveraging Fund technical assistance.

    Directors welcomed Grenada’s commitment to fiscal prudence and debt sustainability and emphasized the importance of a timely return to the suspended fiscal rules. In that context, they noted the need for continued expenditure prioritization and revenue mobilization to create fiscal space for future investment needs, including for climate resilience. Further strengthening public investment management and budget planning processes would also be important. Directors also saw merit in developing a more uniform framework for managing all CBI resources and encouraged continued progress in resolving outstanding official arrears.

    Directors welcomed the banking system’s resilience despite repeated shocks. They emphasized the need for vigilance and strengthened oversight in the rapidly expanding credit union sector. Directors encouraged strengthening data collection and regional collaboration in the property insurance sector, given rising premiums. They also agreed that further enhancements in the AML/CFT frameworks are essential, including to safeguard correspondent banking relationships.

    Directors commended the authorities’ implementation of Grenada’s Disaster Resilience Strategy including investments in a risk-layering framework of disaster-contingency insurance and financing instruments. Moving forward and noting the risk of future natural disasters, they emphasized the importance of further advancing the energy transition and investment in disaster resilient infrastructure, with support from private financing.

    Directors also encouraged sustained structural reform efforts to foster long-term growth, including investing in active labor market policies and continuing efforts to support off-season and niche tourism. Addressing data gaps is also important.

    It is expected that the next Article IV Consultation with Grenada will be held on the standard 12-month consultation cycle.

    Table 1. Grenada: Selected Social and Economic Indicators, 2019–29

     

    Rank in UNDP Human Development Index

    73

    Infant mortality rate per ‘000 births (2021)

    14.4

    out of 189 countries (2021)

    Adult illiteracy rate in percent (2014)

    1

    Life expectancy at birth in years (2021)

    75

    Poverty rate in percent of population (2019)

    25

    GDP per capita in US$ (2021)

    10,449

    Population in millions (2021)

    0.13

    Unemployment rate (2021 Q2)

    11.1

     

    2019

    2020

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    Est.

    Proj.

    National income and prices

     

     

     

     

     

     

     

     

     

     

     

    GDP at constant prices

    0.7

    -13.8

    4.7

    7.3

    4.7

    3.6

    3.9

    3.3

    2.7

    2.7

    2.7

    GDP deflator

    3.3

    -0.3

    2.8

    2.2

    2.7

    1.4

    1.4

    2.0

    2.0

    2.0

    2.0

    Consumer prices, end of period

    0.1

    -0.8

    1.9

    2.9

    2.2

    1.2

    1.9

    2.0

    2.0

    2.0

    2.0

    Money and credit, end of period

    Credit to private sector

    1.4

    3.1

    3.8

    2.1

    3.8

    3.8

    4.2

    4.4

    4.6

    4.5

    4.5

    Broad money (M2)

    2.9

    9.1

    8.5

    9.9

    1.4

    3.7

    5.2

    5.4

    4.8

    4.8

    4.8

    Central government balances (accrual)

    Revenue and grants

    26.6

    28.1

    31.5

    32.7

    36.9

    44.1

    30.5

    29.3

    29.2

    28.9

    28.8

    Expenditure

    21.6

    32.7

    31.2

    31.8

    28.9

    39.5

    39.4

    33.1

    29.6

    29.2

    28.9

    o.w. Capital expenditure

    2.6

    9.6

    8.6

    10.2

    9.3

    11.7

    12.2

    8.7

    6.2

    5.8

    5.6

    Primary balance

    6.8

    -2.6

    2.1

    2.6

    9.5

    8.0

    -5.1

    -1.2

    1.5

    1.5

    1.5

    Overall balance

    5.0

    -4.5

    0.3

    1.0

    8.0

    4.7

    -8.9

    -3.8

    -0.4

    -0.3

    -0.1

     

    Central government debt (incl. guaranteed) 1/

    58.5

    71.4

    70.0

    62.8

    60.5

    59.3

    58.1

    53.9

    53.2

    51.4

    49.6

    Domestic

    14.6

    16.2

    15.3

    12.8

    11.3

    11.1

    9.7

    7.8

    7.1

    6.9

    7.0

    External

    44.0

    55.2

    54.7

    50.0

    49.2

    48.2

    48.5

    46.1

    46.0

    44.5

    42.6

    Public debt (incl. debt of SOEs and SBs)

    62.7

    89.5

    86.6

    78.8

    75.2

    73.3

    71.4

    66.5

    65.2

    62.9

    60.6

    Savings-Investment balance

    -10.4

    -16.1

    -14.5

    -11.0

    -9.1

    -13.1

    -13.8

    -10.6

    -9.9

    -9.1

    -9.1

    Savings

    14.6

    16.3

    15.6

    18.0

    30.8

    28.3

    18.1

    17.8

    15.8

    15.3

    14.9

    Investment

    24.9

    32.4

    30.1

    29.1

    39.9

    41.5

    31.9

    28.4

    25.7

    24.5

    24.0

    External Sector

     

     

     

     

     

     

    Gross international reserves (millions of dollars)

    234.1

    290.9

    324.2

    352.6

    389.1

    435.1

    364.5

    364.8

    390.3

    405.6

    424.6

    (in months of imports)

    5.2

    5.6

    4.9

    5.0

    4.8

    5.2

    4.3

    4.2

    4.3

    4.3

    4.3

    Current account balance, o/w:

    -10.4

    -16.1

    -14.5

    -11.0

    -9.1

    -13.1

    -13.8

    -10.6

    -9.9

    -9.1

    -9.1

    Exports of goods and services

    54.6

    41.1

    47.9

    57.8

    62.8

    63.8

    62.5

    62.8

    63.0

    62.6

    62.3

    Imports of goods and services

    55.8

    52.2

    55.4

    64.3

    63.7

    69.9

    68.5

    65.6

    65.0

    63.8

    63.4

    External debt (gross)

    64.7

    92.5

    94.8

    90.0

    86.9

    85.4

    85.4

    82.6

    82.3

    80.5

    78.4

    Sources: Ministry of Finance; Eastern Caribbean Central Bank; United Nations, Human Development Report; World Bank WDI; and IMF staff estimates and projections.

    1/ Includes the impact of the debt restructuring agreement for the 2025 bonds.

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

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

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Meera Louis

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

    https://www.imf.org/en/News/Articles/2025/02/03/pr25026-grenada-imf-executive-board-concludes-2024-article-iv-consultation

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Canada: Investor Alert: Maple Bit Is Not Registered

    Source: Government of Canada regional news

    Released on February 4, 2025

    The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entity known as Maple Bit.

    “We encourage Saskatchewan residents to check the registration status of any investment entity at aretheyregistered.ca before considering investing with them,” FCAA Securities Division Executive Director Dean Murrison said. “Checking the registration status is easy and ensures that who you work with is reputable.”

    Maple Bit claims to offer Saskatchewan residents trading opportunities, including cryptocurrencies, stocks, forex, exchange-traded funds (ETFs), commodities, indices and contracts for difference (CFDs).

    This alert applies to the online entity using the website “maple-bit com” (this URL has been manually altered so as not to be interactive).

    Maple Bit is not registered with the FCAA to trade or sell securities or derivatives in Saskatchewan. The FCAA cautions investors and consumers not to send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses. 

    If you have invested with Maple Bit or anyone claiming to be acting on their behalf, contact the FCAA’s Securities Division at 306-787-5936.

    In Saskatchewan, individuals or companies need to be registered with the FCAA to trade or sell securities or derivatives. The registration provisions of The Securities Act, 1988, and accompanying regulations are intended to ensure that only honest and knowledgeable people are registered to sell securities and derivatives and that their businesses are financially stable.

    Tips to protect yourself:

    • Always verify that the person or company is registered in Saskatchewan to sell or advise about securities or derivatives. To check registration, visit The Canadian Securities Administrators’ National Registration Search at aretheyregistered.ca.
    • Know exactly what you are investing in. Make sure you understand how the investment, product, or service works.
    • Get a second opinion and seek professional advice about the investment.
    • Do not allow unknown or unverified individuals to remotely access your computer.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI USA: NCDHHS Invests $3 Million to Expand Child First, Strengthening Support for Young Children and Families Across North Carolina

    Source: US State of North Carolina

    Headline: NCDHHS Invests $3 Million to Expand Child First, Strengthening Support for Young Children and Families Across North Carolina

    NCDHHS Invests $3 Million to Expand Child First, Strengthening Support for Young Children and Families Across North Carolina
    hejones1

    The North Carolina Department of Health and Human Services is investing $3 million to expand access to Child First, an evidence-based, early childhood intervention program proven to reduce the risk of child maltreatment and prevent young children and families from entering the foster care system. This investment, awarded to Alliance Health, Trillium Health Resources and Vaya Health, will expand Child First services to additional counties across the state, providing critical, community-based access to behavioral health care and family support services.

    Child First is a nationally recognized, two-generation care model that provides home-based clinical therapy for young children (prenatal through age five) and their parents or primary caregivers while also connecting families to essential resources in their communities. The program has been proven to strengthen parent-child relationships, reduce maternal depression and build resilience for families experiencing challenges like poverty, domestic violence, substance abuse, homelessness or incarceration. 

    Child First is a front-end, upstream resource that can support young families before abuse or neglect occurs, preventing the need for intervention through child welfare services in the future. 

    “We know that the earliest years of life set the foundation for a child’s future health and well-being,” said North Carolina Health and Human Services Secretary Dev Sangvai. “By expanding access to Child First, we are ensuring that more families receive the support they need to create stable, nurturing environments where young children can thrive.”

    The goal of NCDHHS’ $3 million investment is to expand access to evidence-based programs in underserved communities in North Carolina to improve outcomes for children and families. Trillium Health Resources and Alliance Health have been awarded $1 million each to expand Child First into a combined 22 additional counties across the state. Vaya Health has dedicated $350,000 to expanding Child First in western North Carolina, and the remainder of their $1 million award will support other evidence-based behavioral health programs, including Parent-Child Interaction Therapy and Trauma-Focused Cognitive Behavioral Therapy.

    Child First is currently available in 31 North Carolina counties through providers such as Children’s Home Society, RHA Health Services, Easter Seals PORT Health and Coastal Horizons. With this expansion, more families will have access to trauma-informed, family-focused care and support in their own homes.

    “Investing in early intervention and prevention services is one of the most effective ways we can support children and families, helping them build stability and resilience before a challenge becomes a crisis,” said NCDHHS Deputy Secretary for Opportunity and Well-Being Susan Osborne. “By expanding access to Child First, we are ensuring more families receive comprehensive, evidence-based support – laying the foundation for lifelong health and well-being.”

    To strengthen the overall impact of the program across the state, NCDHHS is launching a Child First Learning Collaborative. The collaborative will bring together providers, the participating LME/MCOs and Child First NC partners to assess the program’s effectiveness, support successful implementation and help to inform the department’s future investments in evidence-based, community-based services.

    This initiative is part of the department’s broader $835 million investment to transform behavioral health in North Carolina. Of these funds, $80 million is committed to building a child behavioral health system that improves outcomes for children and families through trauma-informed, family-centered care. The goal is to integrate a continuum of services into North Carolina’s homes, communities and schools to meet children and families where they are, ensuring access to the right services at the right time to meet their needs.

    For more information, go to the Child First NC website.

    El Departamento de Salud y Servicios Humanos de Carolina del Norte está invirtiendo $3 millones para ampliar el acceso a Child First, un programa de intervención en la primera infancia basado en la evidencia que ha demostrado reducir el riesgo de maltrato infantil y evitar que los niños pequeños y las familias ingresen al sistema de cuidado de crianza. Esta inversión, otorgada a Alliance Health, Trillium Health Resources y Vaya Health, ampliará los servicios de Child First a condados adicionales en todo el estado, proporcionando acceso crítico y basado en la comunidad a la atención de salud conductual y los servicios de apoyo familiar.

    Child First es un modelo de atención de dos generaciones reconocido a nivel nacional que proporciona terapia clínica en el hogar para niños pequeños (prenatales hasta los cinco años) y sus padres o cuidadores principales, al tiempo que conecta a las familias con recursos esenciales en sus comunidades. Se ha demostrado que el programa fortalece las relaciones entre padres e hijos, reduce la depresión materna y desarrolla la resiliencia de las familias que experimentan desafíos como la pobreza, la violencia doméstica, el abuso de sustancias, la falta de vivienda o el encarcelamiento.

    Child First es un recurso inicial y ascendente que puede apoyar a las familias jóvenes antes de que ocurra el abuso o la negligencia, evitando la necesidad de intervención a través de los servicios de bienestar infantil en el futuro.

    “Sabemos que los primeros años de vida establecen los principios básicos para la salud y el bienestar futuros de un niño”, dijo el secretario de Salud y Servicios Humanos de Carolina del Norte, Dev Sangvai. “Al ampliar el acceso a Child First, nos aseguramos de que más familias reciban el apoyo que necesitan para crear entornos estables y enriquecedores donde los niños pequeños puedan prosperar”.

    El objetivo de la inversión de $3 millones de NCDHHS es ampliar el acceso a programas basados en evidencia en comunidades desatendidas en Carolina del Norte para mejorar los resultados para los niños y las familias. Trillium Health Resources y Alliance Health han recibido $1 millón cada una para expandir Child First a un total combinado de 22 condados adicionales en todo el estado. Vaya Health ha dedicado $350,000 a expandir Child First en el oeste de Carolina del Norte, y el resto de su subvención de $1 millón apoyará otros programas de salud conductual basados en evidencia, incluida la terapia de interacción entre padres e hijos y la terapia cognitiva conductual centrada en el trauma.

    Child First está actualmente disponible en 31 condados de Carolina del Norte a través de proveedores como Children’s Home Society, RHA Health Services, Easter Seals PORT Health y Coastal Horizons. Con esta expansión, más familias tendrán acceso a atención y apoyo informados sobre el trauma centrados en la familia y en sus propios hogares.

    “Invertir en servicios tempranos de intervención y prevención es una de las formas más efectivas en que podemos apoyar a los niños y las familias, ayudándoles a desarrollar estabilidad y resiliencia antes de que un desafío se convierta en una crisis”, dijo Susan Osborne, Secretaria Adjunta de Oportunidades y Bienestar de NCDHHS. “Al ampliar el acceso a Child First, nos aseguramos de que más familias reciban un apoyo integral y basado en la evidencia, sentando las bases para la salud y el bienestar de por vida”.

    Para fortalecer el impacto general del programa en todo el estado, NCDHHS está lanzando una Colaboración de Aprendizaje Infantil Primero (Child First Learning Collaborative). La colaboración reunirá a los proveedores, las entidades locales de administración/organizaciones de asistencia administrada (LME/MCO, por sus siglas en inglés) participantes y los socios de Child First NC para evaluar la efectividad del programa, apoyar la implementación exitosa, y ayudar a informar las inversiones futuras del departamento en servicios comunitarios basados en evidencia.

    Esta iniciativa es parte de la inversión más amplia del departamento de $835 millones  para transformar la salud del comportamiento en Carolina del Norte. De estos fondos, $80 millones se comprometen a construir un sistema de salud conductual infantil que mejore los resultados para los niños y las familias a través de una atención centrada en la familia e informada sobre el trauma. El objetivo es integrar una gama continua de servicios en los hogares, comunidades y escuelas de Carolina del Norte para satisfacer a los niños y las familias donde se encuentran, asegurando el acceso a los servicios adecuados en el momento adecuado para satisfacer sus necesidades.

    Para obtener más información sobre Child First NC, visite childfirst.org.

    Feb 4, 2025

    MIL OSI USA News –

  • MIL-OSI: First Financial Corporation Reports 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    TERRE HAUTE, Ind., Feb. 04, 2025 (GLOBE NEWSWIRE) — First Financial Corporation (NASDAQ:THFF) today announced results for the fourth quarter of 2024.

    • Net income was $16.2 million compared to $12.4 million reported for the same period of 2023;
    • Diluted net income per common share of $1.37 compared to $1.06 for the same period of 2023;
    • Return on average assets was 1.18% compared to 1.05% for the three months ended December 31, 2023;
    • Credit loss provision was $2.0 million compared to provision of $2.5 million for the fourth quarter 2023; and
    • Pre-tax, pre-provision net income was $22.3 million compared to $16.6 million for the same period in 2023.1

    The Corporation further reported results for the year ended December 31, 2024:

    • Net income was $47.3 million compared to $60.7 million reported for the same period of 2023;
    • Diluted net income per common share of $4.00 compared to $5.08 for the same period of 2023;
    • Return on average assets was 0.92% compared to 1.26% for the twelve months ended December 31, 2023;
    • Credit loss provision was $16.2 million compared to provision of $7.3 million for the twelve months ended December 31, 2023; and
    • Pre-tax, pre-provision net income was $73.4 million compared to $79.7 million for the same period in 2023.1

    ______________________________
    1Non-GAAP financial measure that Management believes is useful for investors and management to understand pre-tax profitability before giving effect to credit loss expense and to provide additional perspective on the Corporation’s performance over time as well as comparison to the Corporation’s peers and evaluating the financial results of the Corporation – please refer to the Non GAAP reconciliations contained in this release.


    Average Total Loans

    Average total loans for the fourth quarter of 2024 were $3.79 billion versus $3.13 billion for the comparable period in 2023, an increase of $657 million or 20.98%. On a linked quarter basis, average loans increased $84.7 million or 2.29% from $3.71 billion as of September 30, 2024. Increases in average loans year-over-year were mostly a result of the acquisition of SimplyBank on July 1, 2024.

    Total Loans Outstanding

    Total loans outstanding as of December 31, 2024, were $3.84 billion compared to $3.17 billion as of December 31, 2023, an increase of $669 million or 21.13%. On a linked quarter basis, total loans increased $122 million or 3.28% from $3.72 billion as of September 30, 2024. The year-over-year increase was impacted by the $467 million in loans acquired in the SimplyBank acquisition. Organic growth was primarily driven by increases in Commercial Construction and Development, Commercial Real Estate, and Consumer Auto loans.

    Norman D. Lowery, President and Chief Executive Officer, commented “We experienced another sound quarter of loan growth and record net interest income. During the quarter our net interest margin expanded, and we expect continued improvement in coming quarters.”

    Average Total Deposits

    Average total deposits for the quarter ended December 31, 2024, were $4.76 billion versus $4.05 billion as of December 31, 2023, an increase of $706 million or 17.44%. Increases in average deposits year-over-year were mostly a result of the acquisition of SimplyBank. On a linked quarter basis, average deposits increased $52 million, or 1.10% from $4.71 billion as of September 30, 2024.

    Total Deposits

    Total deposits were $4.72 billion as of December 31, 2024, compared to $4.09 billion as of December 31, 2023, a $629 million increase, or 15.37%. On a linked quarter basis, total deposits increased $1.4 million, or 0.03%. $622 million in deposits were acquired in the SimplyBank acquisition. Non-interest bearing deposits were $859.0 million, and time deposits were $749.4 million as of December 31, 2024, compared to $750.3 million and $515.7 million, respectively for the same period of 2023.

    Shareholders’ Equity

    Shareholders’ equity at December 31, 2024, was $549.0 million compared to $528.0 million on December 31, 2023. During the last twelve months, the Corporation has not repurchased any shares of its common stock. 518,860 shares remain available for repurchase under the current repurchase authorization. The Corporation paid a $0.45 per share quarterly dividend in October and declared a $0.51 quarterly dividend, which was paid on January 15, 2025.

    Book Value Per Share

    Book Value per share was $46.36 as of December 31, 2024, compared to $44.76 as of December 31, 2023, an increase of $1.60 per share, or 3.57%. Tangible Book Value per share was $36.10 as of December 31, 2024, compared to $36.91 as of December 31, 2023.

    Tangible Common Equity to Tangible Asset Ratio

    The Corporation’s tangible common equity to tangible asset ratio was 7.86% at December 31, 2024, compared to 9.15% at December 31, 2023.

    Net Interest Income

    Net interest income for the fourth quarter of 2024 was a record $49.6 million, compared to $39.6 million reported for the same period of 2023, an increase of $10.0 million, or 25.29%.

    Net Interest Margin

    The net interest margin for the quarter ended December 31, 2024, was 3.94% compared to the 3.63% reported at December 31, 2023. On a linked quarterly basis, the net interest margin increased 16 basis points from 3.78% at September 30, 2024.

    Nonperforming Loans

    Nonperforming loans as of December 31, 2024, were $13.3 million versus $24.6 million as of December 31, 2023. The ratio of nonperforming loans to total loans and leases was 0.35% as of December 31, 2024, versus 0.78% as of December 31, 2023. The decrease in nonperforming loans is due to a commercial relationship that was downgraded in fourth quarter 2023 and subsequently resolved in 2024.

    Credit Loss Provision

    The provision for credit losses for the three months ended December 31, 2024, was $2.0 million, compared to $2.5 million for the fourth quarter 2023.

    Net Charge-Offs

    Fourth quarter net charge-offs were $1.4 million compared to $1.8 million in the same period of 2023.

    Allowance for Credit Losses

    The Corporation’s allowance for credit losses as of December 31, 2024, was $46.7 million compared to $39.8 million as of December 31, 2023. The allowance for credit losses as a percent of total loans was 1.22% as of December 31, 2024, compared to 1.26% as of December 31, 2023. On a linked quarter basis, the allowance for credit losses as a percent of total loans decreased 2 basis points from 1.24% as of September 30, 2024. The Corporation recorded $8.5 million in allowance for the acquisition of SimplyBank, which included $3 million to record purchased credit deteriorated (“PCD”) reserves.

    Non-Interest Income

    Non-interest income for the three months ended December 31, 2024 and 2023 was $12.2 million and $11.2 million, respectively.

    Non-Interest Expense

    Non-interest expense for the three months ended December 31, 2024, was $39.8 million compared to $34.2 million in 2023. This includes an overall increase in operating expenses as a result of the acquisition.

    Efficiency Ratio

    The Corporation’s efficiency ratio was 62.98% for the quarter ending December 31, 2024, versus 65.62% for the same period in 2023.

    Income Taxes

    Income tax expense for the three months ended December 31, 2024, was $3.8 million versus $1.7 million for the same period in 2023. The effective tax rate for 2024 was 17.28% compared to 16.31% for 2023.

    About First Financial Corporation

    First Financial Corporation (NASDAQ:THFF) is the holding company for First Financial Bank N.A., which is the fifth oldest national bank in the United States, operating 83 banking centers in Illinois, Indiana, Kentucky, Tennessee, and Georgia. Additional information is available at www.first-online.bank.

    Investor Contact:
    Rodger A. McHargue
    Chief Financial Officer
    P: 812-238-6334
    E: rmchargue@first-online.com

                                           
                                           
      Three Months Ended   Year Ended
      December 31,    September 30,   December 31,    December 31,    December 31, 
      2024      2024      2023      2024      2023
    END OF PERIOD BALANCES                                      
    Assets $ 5,560,348     $ 5,483,351     $ 4,851,146     $ 5,560,348     $ 4,851,146  
    Deposits $ 4,718,914     $ 4,717,489     $ 4,090,068     $ 4,718,914     $ 4,090,068  
    Loans, including net deferred loan costs $ 3,837,141     $ 3,715,235     $ 3,167,821     $ 3,837,141     $ 3,167,821  
    Allowance for Credit Losses $ 46,732     $ 46,169     $ 39,767     $ 46,732     $ 39,767  
    Total Equity $ 549,041     $ 565,951     $ 527,976     $ 549,041     $ 527,976  
    Tangible Common Equity (a) $ 427,470     $ 446,786     $ 435,405     $ 427,470     $ 435,405  
                                           
    AVERAGE BALANCES                                           
    Total Assets $ 5,516,036     $ 5,483,572     $ 4,725,297     $ 5,154,320     $ 4,802,448  
    Earning Assets $ 5,196,352     $ 5,165,520     $ 4,485,766     $ 4,871,293     $ 4,564,135  
    Investments $ 1,311,415     $ 1,342,037     $ 1,279,821     $ 1,310,263     $ 1,358,661  
    Loans $ 3,790,515     $ 3,705,779     $ 3,133,267     $ 3,468,534     $ 3,111,784  
    Total Deposits $ 4,757,438     $ 4,705,614     $ 4,050,968     $ 4,405,679     $ 4,106,132  
    Interest-Bearing Deposits $ 3,925,740     $ 4,403,454     $ 3,291,931     $ 3,767,259     $ 3,304,816  
    Interest-Bearing Liabilities $ 134,553     $ 157,227     $ 206,778     $ 166,377     $ 199,551  
    Total Equity $ 556,330     $ 546,912     $ 463,004     $ 535,963     $ 486,572  
                                           
    INCOME STATEMENT DATA                                           
    Net Interest Income $ 49,602     $ 47,170     $ 39,590     $ 174,986     $ 167,262  
    Net Interest Income Fully Tax Equivalent (b) $ 50,985     $ 48,630     $ 40,942     $ 180,586     $ 172,716  
    Provision for Credit Losses $ 2,000     $ 9,400     $ 2,495     $ 16,166     $ 7,295  
    Non-interest Income $ 12,213     $ 11,223     $ 11,247     $ 42,772     $ 42,702  
    Non-interest Expense $ 39,801     $ 38,564     $ 34,244     $ 144,438     $ 130,176  
    Net Income $ 16,241     $ 8,741     $ 12,420     $ 47,275     $ 60,672  
                                           
    PER SHARE DATA                                           
    Basic and Diluted Net Income Per Common Share $ 1.37     $ 0.74     $ 1.06     $ 4.00     $ 5.08  
    Cash Dividends Declared Per Common Share $ 0.51     $ 0.45     $ 0.45     $ 1.86     $ 0.99  
    Book Value Per Common Share $ 46.36     $ 47.93     $ 44.76     $ 46.36     $ 44.76  
    Tangible Book Value Per Common Share (c) $ 36.77     $ 36.22     $ 31.47     $ 36.10     $ 36.91  
    Basic Weighted Average Common Shares Outstanding   11,824       11,808       11,772       11,812       11,937  

    ______________________________
    (a)   Tangible common equity is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible common equity by excluding goodwill and other intangible assets from shareholder’s equity.
    (b)   Net interest income fully tax equivalent is a non-GAAP financial measure derived from GAAP-based amounts. We calculate net interest income fully tax equivalent by adding back the tax equivalent factor of tax exempt income to net interest income. We calculate the tax equivalent factor of tax exempt income by dividing tax exempt income by the net of tax rate of 75%.
    (c)   Tangible book value per common share is a non-GAAP financial measure derived from GAAP-based amounts. We calculate the factor by dividing average tangible common equity by average shares outstanding. We calculate average tangible common equity by excluding average intangible assets from average shareholder’s equity.

                                   
    Key Ratios Three Months Ended   Year Ended  
      December 31,      September 30,      December 31,      December 31,      December 31,  
      2024         2024         2023         2024         2023  
    Return on average assets 1.18   % 0.64   % 1.05   % 0.92   % 1.26   %
    Return on average common shareholder’s equity 11.68   % 6.39   % 10.73   % 8.82   % 12.47   %
    Efficiency ratio 62.98   % 64.43   % 65.62   % 64.67   % 60.43   %
    Average equity to average assets 10.09   % 9.97   % 9.80   % 10.40   % 10.13   %
    Net interest margin (a) 3.94   % 3.78   % 3.63   % 3.71   % 3.78   %
    Net charge-offs to average loans and leases 0.15   % 0.49   % 0.22   % 0.35   % 0.23   %
    Credit loss reserve to loans and leases 1.22   % 1.24   % 1.26   % 1.22   % 1.26   %
    Credit loss reserve to nonperforming loans 351.37   % 326.65   % 161.94   % 351.37   % 161.94   %
    Nonperforming loans to loans and leases 0.35   % 0.38   % 0.78   % 0.35   % 0.78   %
    Tier 1 leverage 10.38   % 10.25   % 12.14   % 10.38   % 12.14   %
    Risk-based capital – Tier 1 12.43   % 13.63   % 14.76   % 12.43   % 14.76   %

    ______________________________
    (a)   Net interest margin is calculated on a tax equivalent basis.

                                           
    Asset Quality Three Months Ended   Year Ended
      December 31,       September 30,      December 31,       December 31,       December 31, 
      2024   2024   2023   2024   2023
    Accruing loans and leases past due 30-89 days $ 22,486     $ 16,391     $ 20,168     $ 22,486     $ 20,168  
    Accruing loans and leases past due 90 days or more $ 1,821     $ 1,517     $ 960     $ 1,821     $ 960  
    Nonaccrual loans and leases $ 11,479     $ 12,617     $ 23,596     $ 11,479     $ 23,596  
    Other real estate owned $ 523     $ 169     $ 107     $ 523     $ 107  
    Nonperforming loans and other real estate owned $ 13,823     $ 14,303     $ 24,663     $ 13,823     $ 24,663  
    Total nonperforming assets $ 16,719     $ 17,179     $ 27,665     $ 16,719     $ 27,665  
    Gross charge-offs $ 3,070     $ 6,936     $ 3,976     $ 19,289     $ 15,496  
    Recoveries $ 1,633     $ 2,365     $ 2,213     $ 7,082     $ 8,188  
    Net charge-offs/(recoveries) $ 1,437     $ 4,571     $ 1,763     $ 12,207     $ 7,308  
                   
    Non-GAAP Reconciliations Three Months Ended December 31, 
      2024      2023
    ($in thousands, except EPS)              
    Income before Income Taxes $ 20,014     $ 14,098  
    Provision for credit losses   2,000       2,495  
    Provision for unfunded commitments   300       —  
    Pre-tax, Pre-provision Income $ 22,314     $ 16,593  
                 
    Non-GAAP Reconciliations Year Ended December 31, 
      2024      2023
    ($ in thousands, except EPS)            
    Income before Income Taxes $ 57,154     $ 72,493  
    Provision for credit losses   16,166       7,295  
    Provision for unfunded commitments   100       (100 )
    Pre-tax, Pre-provision Income $ 73,420     $ 79,688  
               
    CONSOLIDATED BALANCE SHEETS
    (Dollar amounts in thousands, except per share data)
               
      December 31,       December 31, 
      2024   2023
      (unaudited)
    ASSETS          
    Cash and due from banks $ 93,526     $ 76,759  
    Federal funds sold   820       282  
    Securities available-for-sale   1,195,990       1,259,137  
    Loans:          
    Commercial   2,196,351       1,817,526  
    Residential   967,386       695,788  
    Consumer   668,058       646,758  
        3,831,795       3,160,072  
    (Less) plus:            
    Net deferred loan costs   5,346       7,749  
    Allowance for credit losses   (46,732 )     (39,767 )
        3,790,409       3,128,054  
    Restricted stock   17,555       15,364  
    Accrued interest receivable   26,934       24,877  
    Premises and equipment, net   81,508       67,286  
    Bank-owned life insurance   128,766       114,122  
    Goodwill   100,026       86,985  
    Other intangible assets   21,545       5,586  
    Other real estate owned   523       107  
    Other assets   102,746       72,587  
    TOTAL ASSETS $ 5,560,348     $ 4,851,146  
               
    LIABILITIES AND SHAREHOLDERS’ EQUITY            
    Deposits:            
    Non-interest-bearing $ 859,014     $ 750,335  
    Interest-bearing:          
    Certificates of deposit exceeding the FDIC insurance limits   144,982       92,921  
    Other interest-bearing deposits   3,714,918       3,246,812  
        4,718,914       4,090,068  
    Short-term borrowings   187,057       67,221  
    FHLB advances   28,120       108,577  
    Other liabilities   77,216       57,304  
    TOTAL LIABILITIES   5,011,307       4,323,170  
               
    Shareholders’ equity            
    Common stock, $.125 stated value per share;            
    Authorized shares-40,000,000            
    Issued shares-16,165,023 in 2024 and 16,137,220 in 2023            
    Outstanding shares-11,842,539 in 2024 and 11,795,024 in 2023   2,018       2,014  
    Additional paid-in capital   145,927       144,152  
    Retained earnings   687,366       663,726  
    Accumulated other comprehensive income/(loss)   (132,285 )     (127,087 )
    Less: Treasury shares at cost-4,322,484 in 2024 and 4,342,196 in 2023   (153,985 )     (154,829 )
    TOTAL SHAREHOLDERS’ EQUITY   549,041       527,976  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 5,560,348     $ 4,851,146  
     
    CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
    (Dollar amounts in thousands, except per share data)
                     
      Year Ended
      December 31, 
      2024      2023   2022
      (unaudited)
    INTEREST INCOME:                
    Loans, including related fees $ 226,262     $ 189,641     $ 146,295  
    Securities:                  
    Taxable   24,237       24,643       21,014  
    Tax-exempt   10,533       10,573       9,974  
    Other   3,710       3,540       6,018  
    TOTAL INTEREST INCOME   264,742       228,397       183,301  
    INTEREST EXPENSE:                   
    Deposits   81,071       51,694       16,743  
    Short-term borrowings   4,284       5,370       1,243  
    Other borrowings   4,401       4,071       273  
    TOTAL INTEREST EXPENSE   89,756       61,135       18,259  
    NET INTEREST INCOME   174,986       167,262       165,042  
    Provision for credit losses   16,166       7,295       (2,025 )
    NET INTEREST INCOME AFTER PROVISION                   
    FOR LOAN LOSSES   158,820       159,967       167,067  
    NON-INTEREST INCOME:                  
    Trust and financial services   5,468       5,155       5,155  
    Service charges and fees on deposit accounts   29,653       28,079       27,540  
    Other service charges and fees   999       801       665  
    Securities gains (losses), net   103       (1 )     3  
    Interchange income   655       676       559  
    Loan servicing fees   1,259       1,176       1,554  
    Gain on sales of mortgage loans   1,153       966       1,994  
    Other   3,482       5,850       9,246  
    TOTAL NON-INTEREST INCOME   42,772       42,702       46,716  
    NON-INTEREST EXPENSE:                   
    Salaries and employee benefits   74,555       68,525       65,555  
    Occupancy expense   9,616       9,351       9,764  
    Equipment expense   17,612       14,020       12,391  
    FDIC Expense   2,788       2,907       2,327  
    Other   39,867       35,373       35,986  
    TOTAL NON-INTEREST EXPENSE   144,438       130,176       126,023  
    INCOME BEFORE INCOME TAXES   57,154       72,493       87,760  
    Provision for income taxes   9,879       11,821       16,651  
    NET INCOME   47,275       60,672       71,109  
    OTHER COMPREHENSIVE INCOME (LOSS)                   
    Change in unrealized gains/(losses) on securities, net of reclassifications and taxes   (9,807 )     10,896       (144,570 )
    Change in funded status of post retirement benefits, net of taxes   4,609       1,991       7,022  
    COMPREHENSIVE INCOME (LOSS) $ 42,077     $ 73,559     $ (66,439 )
    PER SHARE DATA                   
    Basic and Diluted Earnings per Share $ 4.00     $ 5.08     $ 5.82  
    Weighted average number of shares outstanding (in thousands)   11,812       11,937       12,211  

    The MIL Network –

  • MIL-OSI: Update on offer for subscription

    Source: GlobeNewswire (MIL-OSI)

    Octopus Apollo VCT plc

    Update on offer for subscription

    The Board of Octopus Apollo VCT plc (the ‘Company’) has confirmed that the over-allotment facility may be used in relation to the Company’s offer for subscription that opened on 23 October 2024 (the ‘Offer’) up to a maximum of £25 million. This increases the maximum amount that can be raised under the Offer to £75 million.

    A copy of the prospectus dated 23 October 2024 relating to the Offer (the ‘Prospectus’) has been submitted to the National Storage Mechanism and is available to the public for viewing online at the following web-site address:

    https://data.fca.org.uk/#/nsm/nationalstoragemechanism

    The Prospectus can also be viewed on the Company’s website: http://www.octopusinvestments.com

    For further information please contact:

    Rachel Peat
    Octopus Company Secretarial Services Limited
    Tel: +44 (0)80 0316 2067

    LEI: 213800Y3XEIQ18DP3O53

    The MIL Network –

  • MIL-OSI: Mark Cuban Foundation and the Cosmosphere Bring AI Education to Hutchinson Teens

    Source: GlobeNewswire (MIL-OSI)

    HUTCHINSON, Kan., Feb. 04, 2025 (GLOBE NEWSWIRE) — The Mark Cuban Foundation is proud to announce a pioneering museum pilot program in partnership with the Cosmosphere International Science Education Center and Space Museum in Hutchinson, Kansas. The program will bring the highly acclaimed Artificial Intelligence (AI) Bootcamp to Hutchinson area high school students. This collaboration emphasizes the Foundation’s mission to reach students in underserved and previously unconnected regions, providing them with opportunities to engage with innovative technology.

    The program aims to provide students with a foundational understanding of artificial intelligence and its applications to future careers. Students can select from six tracks: healthcare, arts and entertainment, business and entrepreneurship, computer science, sports science, or education and career readiness. Driven by the belief that fostering interest in AI at a young age is crucial for preparing the next generation for their future, the AI Bootcamps are introductory and accessible to students in 9-12 grade with an interest in technology. Students do not need any familiarity with computer science or programming to attend.

    This free AI Bootcamp is hosted for underserved high school students with a transparent focus on recruiting girls, students of color, first generation college students, and those from low to moderate income households. The AI Bootcamp Program provides students with lunch and a snack, transportation assistance, and technology equipment during bootcamp.

    “As AI continues to become an undeniable force in all of our lives, it’s crucial that we open the door to this knowledge, especially to young people who want to explore it,” said Mark Cuban, founder. “While technology expands and becomes more advanced, it becomes more critical that we ensure our students are prepared when they apply for schools or jobs in the future. Thanks to our work with the Cosmosphere, the bootcamp will offer an avenue to explore this fascinating field of technology to any student, no matter their means.”

    This year’s bootcamp, taking place in Hutchinson on March 17- 19, is hosted and staffed by the Cosmosphere, a space museum with one of the largest collections of U.S. and Soviet space artifacts. It features the Apollo 13 command module, an SR-71 Blackbird, a planetarium, and hands-on exhibits for all ages.

    Cosmosphere is one of more than 25 host companies selected to host camps across the U.S.

    “At the Cosmosphere, we’re passionate about igniting curiosity in young minds and empowering the next generation of innovators. This AI bootcamp, in partnership with the Mark Cuban Foundation, represents a tremendous opportunity to do just that,” said JoAnna Strecker, Cosmosphere Vice President of Education. “We’re grateful to the Mark Cuban Foundation for their support in making this dream a reality, and we can’t wait to see the incredible things these students will achieve.”

    Apply for the bootcamp at: markcubanai.org.

    Watch Mark Cuban’s message about Mark Cuban Foundation’s AI bootcamps and access the full media kit here.

    To learn more, visit markcubanai.org.

    This bootcamp is facilitated with support from Mark Cuban Foundation AI Bootcamp Program’s media partner, Notified, a globally trusted technology partner for investor relations, public relations and marketing professionals.

    About Mark Cuban Foundation’s AI Bootcamp Initiative
    The Mark Cuban Foundation is a 501(c)(3) private non-profit led by entrepreneur and investor Mark Cuban. The AI Bootcamps Program at MCF seeks to inspire young people with emerging technology so that they can create more equitable futures for themselves and their communities. Over 3 consecutive Saturdays underserved 9th – 12th grade students learn what AI is and isn’t, where they already interact with AI in their own lives, the ethical implications of AI systems, and much more. Learn more about the no-cost AI Bootcamp program at markcubanai.org.

    About Cosmosphere

    The Cosmosphere International Science Education Center and Space Museum is a Smithsonian Affiliate. Located at 1100 North Plum in Hutchinson, KS, its collection includes U.S. space artifacts second only to the Smithsonian’s National Air and Space Museum and the largest collection of Russian space artifacts outside of Moscow. This unique collection allows the Cosmosphere to tell the story of the Space Race better than any museum in the world while offering fully immersive education experiences that meet Next Generation Science Standards. The Cosmosphere also features the Carey Digital Dome Theater, offering daily documentary showings, a digital Planetarium, Dr. Goddard’s Rocket Lab Experience, where visitors experience live science demonstrations, and CosmoKids, an interactive STEAM area for children accompanied by an adult.

    The MIL Network –

  • MIL-OSI Video: Acting FBI Director Brian Driscoll’s Statement on Recent FBI Achievements

    Source: Federal Bureau of Investigation (FBI) (video statements)

    Acting Director Brian Driscoll shares an update on some of the important work the men and women of the FBI have been doing across the country and around the world to keep the American people safe.

    https://www.youtube.com/watch?v=JPwLLc2yOZE

    MIL OSI Video –

  • MIL-OSI USA: ICYMI: Senator Coons declares in a new Washington Post op-ed that President Trump’s attacks on USAID are an assault on Americans’ safety and national security

    US Senate News:

    Source: United States Senator for Delaware Christopher Coons

    WASHINGTON – In case you missed it, U.S. Senator Chris Coons (D-Del.), a member of the U.S. Senate Foreign Relations Committee, published an op-ed in the Washington Post discussing the national security consequences of President Donald Trump’s efforts to freeze U.S. foreign assistance funding and halt operations at the United States Agency for International Development (USAID). 

    This weekend, reports broke that President Trump plans to sign an executive order drastically reducing USAID’s budget and operations and folding it into the State Department. It’s one of many steps to decapitate our foreign aid apparatus, including freezing nearly all U.S. foreign aid for 90 days on his first day back in office.

    In his op-ed, Senator Coons pointed out that for less than one percent of the federal budget, USAID and foreign aid spending keep Americans abroad and within the 50 states safe. Whether containing dangerous diseases before they can reach this country or preventing security vacuums in which terrorist groups thrive, USAID funds keep Americans safe and our nation secure. Additionally, cutting our foreign aid budget will create a vacuum that will allow China and our adversaries to expand their influence.

    The Washington Post: Trump’s attack on USAID is an assault on Americans’ safety

    Donald Trump ran for president on a promise that he would keep Americans safe. His effort to defund and destroy the U.S. Agency for International Development shows he has a misguided idea of how to do that.

    …

    U.S. foreign assistance makes up 1 percent of our federal budget, and this money isn’t charity. It bolsters our security and advances our values. The reckless steps the Trump administration is taking as part of its isolationist “America First” agenda are, simply put, dangerous for Americans. Our foreign assistance and engagement wins us friends around the world, establishes our leadership and, more important, neutralizes distant threats to the United States well before they put our country at risk.

    …

    U.S. foreign and development assistance carried out by USAID might occur out of the public eye and far from our borders, but it addresses instability and keeps Americans safe. It keeps Americans living overseas safe. It keeps our service members stationed around the world safe. It keeps my constituents in Wilmington safe. As Gen. Jim Mattis, Trump’s first defense secretary, said, if we don’t fund foreign aid, “then I need to buy more bullets.”

    MIL OSI USA News –

  • MIL-OSI Africa: Psychology in democratic South Africa: new book explores a post-apartheid journey

    Source: The Conversation – Africa – By Liezille Jacobs, Associate Professor, Rhodes University

    When apartheid ended in 1994, South Africa underwent significant social and political transformation. A key aspect of this shift was the push for greater inclusion and representation of Black South Africans across all sectors – including psychology.

    Dr Liezille Jacobs was part of a pioneering generation of Black psychologists who started their training in 1995. Now she has written a book, Rocklands: On becoming the first generation of Black psychologists in post-apartheid South Africa. In it she explores the barriers she and her colleagues faced and unpacks misconceptions around what psychology is and does. She also argues that critical (and African) psychology can both “address the legacies of apartheid and heal the relational traumas caused by systemic oppression”. The Conversation Africa asked her about the book and her work.

    What is the book about?

    I wrote Rocklands to address the widespread misconceptions that both first-year psychology students and the general public often hold about what it truly means to be a psychologist. It’s common for people to oversimplify the profession. They view it merely as talking to people or offering quick-fix solutions to problems. The reality is far more complex.

    I wanted to challenge these superficial ideas and provide a more layered and accurate representation of the field. The process of becoming a psychologist is not just about acquiring theoretical knowledge. It’s also about developing emotional intelligence, critical thinking, and a strong ethical foundation. Psychologists must balance empathy with objectivity, personal insight with professional boundaries, all while navigating the vast complexities of human emotions, relationships, and societal influences.

    The goal of the book is to make psychological knowledge and expertise more accessible to the public.

    Rocklands is also an account of resilience and personal growth in the face of adversity. The first chapter reflects on my early experiences growing up in Rocklands, Mitchell’s Plain. Rocklands was established during apartheid as part of a government plan to segregate communities. Non-white South Africans were moved to areas like Mitchell’s Plain under the Group Areas Act. Over time, Rocklands grew into a working-class neighborhood, shaped by its apartheid-era history.

    The ensuing chapters provide a detailed account of my unique and often difficult journey. I’ve traversed a path less travelled but it’s ultimately led to personal and professional fulfilment.

    Why did you decide to study psychology?

    I initially dreamed of becoming a journalist. However, my parents encouraged me to explore other career options. The results of a career assessment suggested I should consider social work, occupational therapy or psychology.

    Psychology truly caught my attention. As someone with an introverted personality I was drawn to the idea of understanding human behaviour and thought processes on a deeper level. At the time, I envisioned myself working as a clinical psychologist, helping individuals one-on-one.

    Everything shifted when I began my formal studies in 1995. I quickly realised that the field of psychology in South Africa – especially in the context of its history – had much more work to do. I saw the gaps in the system and became acutely aware of how psychology had, in many ways, been complicit in perpetuating social injustices. In 1995, as a first year psychology student, I was made aware of the field’s struggle with its apartheid legacy and psychology’s unfinished business.

    Hendrik Verwoerd was the architect of the racist policies and segregation system that became known worldwide as “grand apartheid”. He was also a psychologist by training.

    Psychology in South Africa has made efforts to adapt to a diverse society. But there are still challenges. These include a disconnect between academic training and professional practice, and the lingering effects of apartheid-era inequalities.

    Read more: Being black in the world: a tribute to pioneering South African psychologist Chabani Manganyi

    South Africa desperately needed (and still does today) Critical Psychologists. Critical psychology challenges traditional psychological theories by examining the social, political, and historical contexts that shape psychological issues. It critiques mainstream psychology for overlooking power structures. And it aims to use psychology as a tool for social change and addressing inequalities.

    Critical psychologists challenge the dominant narratives of the past, address the legacies of apartheid, and have access to the tools to heal the relational traumas caused by systemic oppression. I knew I wanted to contribute to the transformation of the profession – to make it more inclusive, socially responsible, and oriented towards healing the wounds left by historical injustices. This shift in perspective has shaped my entire career. It’s guided my studies, research and teaching practice.

    Have South Africa’s universities changed how they teach psychology?

    The academic transformation project continues and universities are striving to adapt to a more diverse student body. But the pace and extent of this change can vary between institutions.

    There has been a growing recognition globally that psychology, as a discipline, needs to move beyond its traditional western-centric, individualistic frameworks. It must engage more deeply with local contexts and diverse ways of knowing and experiencing the world.

    I was the head of the Psychology Department at Rhodes University in South Africa’s Eastern Cape province from 2022 to 2024. The department has incorporated indigenous knowledge systems such as African philosophical perspectives and non-western psychological practices into our teaching.

    For example, community-based service-learning strategies are emphasised in the undergraduate courses I teach. Community-based service-learning combines community service with academic learning. This gives students the opportunity to engage in real-world problems and contribute to the community while applying psychological theories, concepts and methods. Students learn how to become engaged citizens.

    We also use a variety of teaching materials – case studies, texts by African scholars, multimedia – that resonate with students’ lived experiences.

    Read more: Decolonising psychology creates possibilities for social change

    In a society as culturally and racially diverse as South Africa it is crucial for people to see themselves reflected in the professionals they turn to for help. This can play a role in lowering barriers to mental health services.

    South Africa has a legacy of collective struggle and community resilience. Psychology stands to gain from a greater understanding of collective identities, community dynamics and social justice. Psychologists from diverse backgrounds can offer more nuanced, holistic interventions that address systemic issues rather than focusing solely on individual pathology.

    – Psychology in democratic South Africa: new book explores a post-apartheid journey
    – https://theconversation.com/psychology-in-democratic-south-africa-new-book-explores-a-post-apartheid-journey-247699

    MIL OSI Africa –

  • MIL-OSI Security: Defense News: Destroyer Squadron 50 Assumes Operation Prosperity Guardian Mission

    Source: United States Navy

    MANAMA, Bahrain – Combined Maritime Forces’ (CMF) Combined Task Force (CTF) 153 handed over responsibility for Operation Prosperity Guardian, the presence and information-sharing mission to counter unlawful Houthi attacks on maritime shipping in the Red Sea region, to Destroyer Squadron (DESRON) 50, Feb. 1.

    DESRON 50, the surface warfare task force under U.S. Naval Forces Central Command, will continue OPG’s commitment to freedom of navigation and the free flow of commerce in the Southern Red Sea, Bab al-Mandab, and western Gulf of Aden.

    “CMF’s CTF-153 has done a spectacular job leading OPG and I thank all of the members who committed to this important mission,” said Vice Adm. George Wikoff, commander of CMF. “There will be no change to the important role OPG contributes to regional maritime security.”

    “DESRON 50 brings immediate continuity to the mission,” Wikoff said.

    More than 20 nations participated in OPG, providing ships, personnel, and information support since the focused operation was announced in December 2023. Wikoff said CMF personnel who participated in OPG, “performed their duties with exceptional professionalism.”

    The Joint Maritime Information Center, established in February 2024 as part of OPG’s information sharing mission, will expand its role within the CMF as an authoritative information source for regional maritime reporting.

    “Through dialogue and building close relationships with industry and with CMF, JMIC continues to provide real-time information to enable informed decisions, contributing to overall domain awareness,” said Capt. Lee Stuart, JMIC Director.

    Combined Maritime Forces, a 46-nation naval partnership, is headquartered in Bahrain and is the world’s largest multinational naval partnership, committed to upholding the rules-based international order at sea. It promotes security, stability and prosperity across approximately 3.2 million square miles of international waters, encompassing some of the world’s most important shipping lanes.

    MIL Security OSI –

  • MIL-OSI United Kingdom: Ambassador For a Day competition in North Macedonia 2025

    Source: United Kingdom – Executive Government & Departments

    The British Embassy in Skopje invites female students in North Macedonia aged 18 to 22 to enter a competition to be an Ambassador for a Day.

    What is Ambassador For A Day

    Have you ever wondered what the day-to-day work of an Ambassador is like? This competition will give the winner the unique opportunity to shadow the Ambassador to North Macedonia in the week of International Women’s Day and learn about the work of an Ambassador and other diplomacy leaders.

    Why you should enter this competition

    Women and girls represent half of the world’s population and therefore also half of its potential. Today there are too few women in international diplomacy, including women from under-represented backgrounds, whether ethnic, religious, economic, cultural, or personal identity, among others. Women are not represented at parity in political and business sectors.

    To end this underrepresentation, we must ensure equality of opportunity and equitable outcomes for everyone. This is why we are encouraging women to make their voices heard on topics that affect us all.

    We encourage young students to become leaders and advocates for change by offering them the opportunity to take a look behind the scenes of the British Embassy in Skopje.

    Who can enter

    You can enter this competition if, on 8 March 2025, you are:

    • a student registered in a university in North Macedonia
    • aged 18 to 22 years old
    • available to spend a full day of activities with us at the British Embassy

    How to enter

    To enter, you must write an essay in English answering the following question in no more than 500 words: “Which influential British woman would you like to meet and why?”

    Important tips:

    • we will be celebrating International Women’s Day (IWD) together and this competition should highlight women’s roles
    • creativity will be an important judging criteria
    • the competition’s jury will be comprised of a diverse panel representing different backgrounds to ensure a fair and inclusive evaluation process

    How to submit your entry

    Read the terms and conditions for entering the Ambassador for a Day 2025 competition:

    Terms and Conditions for entering the Ambassador for A Day 2025 Competition (ODT, 12.1 KB)

    Then email your essay and Ambassador For A Day participation form to BritishEmbassySkopje@fcdo.gov.uk

    Deadlines

    Make sure you enter the competition on time:

    • competition opens: 5 February 2025
    • deadline for applications: 23 February 2025
    • competition winner contacted: 28 February 2025
    • competition winner publicly announced: 8 March 2025

    Updates to this page

    Published 4 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Britain’s leading the way protecting children from online predators

    Source: United Kingdom – Government Statements

    UK becomes the first country in the world to create new AI sexual abuse offences to protect children from predators generating AI images.

    Children will be protected from the growing threat of predators generating AI images and from online sexual abuse as the UK becomes the first country in the world to create new AI sexual abuse offences.

    AI tools are being used to generate child sexual abuse images in a number of sickening ways including by “nudeifying” real life images of children or by stitching the faces of other children onto existing child sexual abuse images. The real-life voices of children are also often used in this sickening material, meaning innocent survivors of traumatic abuse are being re-victimised.

    Perpetrators are also using those fake images to blackmail children and force victims into further horrific abuse including streaming live images. AI tools are being used to help perpetrators disguise their initial identity and more effectively groom and abuse children online.

    To better protect children against this sickening abuse the Home Secretary Yvette Cooper has today (2 February) revealed the UK will be the first country in the world to:

    • make it illegal to possess, create or distribute AI tools designed to generate CSAM, punishable by up to 5 years in prison
    • make it illegal for anyone to possess AI “paedophile manuals” which teach people how to use AI to sexually abuse children, punishable by up to 3 years in prison

    At the same time, the Home Office will:

    • introduce a specific offence for predators who run websites designed for other paedophiles to share vile child sexual abuse content or advice on how to groom children, punishable by up to 10 years in prison
    • give Border Force the necessary powers to keep the UK safe and prevent the distribution of CSAM which is often filmed abroad by allowing officers to compel an individual who they reasonably suspect poses a sexual risk to children to unlock their digital devices for inspection. Punishable by up to 3 years in prison, depending on the severity

    All 4 measures will be introduced as part of the Crime and Policing Bill when it comes to Parliament. The bill will support the delivery of the government’s safer streets mission to halve knife crime and violence against women and girls in a decade and increase confidence in policing and the wider criminal justice system to its highest levels.

    The increased availability of AI CSEA imagery not only poses a real risk to the public by normalising sexual violence against children, but it can lead those who view and create it to go on to offend in real life.

    Home Secretary, Yvette Cooper, said:

    We know that sick predators’ activities online often lead to them carrying out the most horrific abuse in person. This government will not hesitate to act to ensure the safety of children online by ensuring our laws keep pace with the latest threats.

    These 4 new laws are bold measures designed to keep our children safe online as technologies evolve. It is vital that we tackle child sexual abuse online as well as offline so we can better protect the public from new and emerging crimes as part of our plan for change.

    The Internet Watch Foundation (IWF) has warned that more and more sexual abuse AI images of children are being produced.

    Over a 30 day period in 2024, IWF analysts identified 3,512 AI CSAM images on a single dark web site. Compared with their 2023 analysis, the prevalence of Category A images (the most severe category) had risen by 10%. 

    New data from the charity shows that reports showing AI generated CSAM have risen 380%, with 245 confirmed reports in 2024 compared with 51 in 2023. Each report can contain thousands of images.

    The charity also warns that some of this AI generated content is so realistic that sometimes they are unable to tell the difference between AI generated content and abuse that is filmed in real life. Of the 245 reports the IWF took action against, 193 included AI generated images which were so sophisticated and life-like, they were actioned under UK law as though they were actual, photographic images of child sexual abuse.

    The predators who run or moderate websites designed for other paedophiles to share vile child sexual abuse content or advice on how to groom children are often the most dangerous to society by encouraging others to view even more extreme content.

    Covert law enforcement officials warn that these individuals often acting as ‘mentors’ for others with an interest in harming in children by offering advice on how to avoid detection and how to manipulate AI tools to generate CSAM.

    Technology Secretary, Peter Kyle said:

    For too long abusers have hidden behind their screens, manipulating technology to commit vile crimes and the law has failed to keep up. It’s meant too many children, young people, and their families have been suffering the dire and lasting impacts of this abuse.

    That is why we are cracking down with some of the most far-reaching laws anywhere in the world. These laws will close loopholes, imprison more abusers, and put a stop to the trafficking of this abhorrent material from abroad. Our message is clear – nothing will get in the way from keeping children safe, and to abusers, the time for cowering behind a keyboard is over.

    Through the new laws, The Home Office is leading on the international stage by continuing to invest in law enforcement capabilities to target online child sexual abuse offenders to disrupt the highest harm and most technically sophisticated offenders.

    Which is why we are giving Border Force the necessary powers to keep the UK safe and prevent the distribution of CSAM which is often filmed abroad. Border Force officers will have the power to compel an individual, where they reasonably suspect that the individual poses a sexual risk to children, to unlock their digital devices for inspection.

    Once the device is accessed, specialist technology will be used to compare the contents of the device against the Child Abuse Image Database (CAID), to identify the presence of known child sexual abuse material.

    Interim Chief Executive of the IWF, Derek Ray-Hill, said:

    We have long been calling for the law to be tightened up, and are pleased the government has adopted our recommendations. These steps will have a concrete impact on online safety.

    The frightening speed with which AI imagery has become indistinguishable from photographic abuse has shown the need for legislation to keep pace with new technologies.

    Children who have suffered sexual abuse in the past are now being made victims all over again, with images of their abuse being commodified to train AI models. It is a nightmare scenario, and any child can now be made a victim, with life-like images of them being sexually abused obtainable with only a few prompts, and a few clicks.

    The availability of this AI content further fuels sexual violence against children. It emboldens and encourages abusers, and it makes real children less safe. There is certainly more to be done to prevent AI technology from being exploited, but we welcome today’s announcement, and believe these measures are a vital starting point.

    While AI can be used as a force for good to transform people’s lives, make public services more efficient and help bolster creative industries, the risk of its use to children continues to grow.

    The crime risks normalising sexual violence against children and re-victimising survivors of traumatic abuse. Which is why this government is prepared to build upon the Online Safety Act and will not hesitate to go further if necessary.

    Minister for Safeguarding and Violence Against Women and Girls, Jess Phillips, said: 

    As technology evolves so does the risk to the most vulnerable in society, especially children. It is vital that our laws are robust enough to protect children from these changes online. We will not allow gaps and loopholes in legislation to facilitate this abhorrent abuse.

    However, everyone has a role to play, and I would implore Big Tech to take seriously its responsibility to protect children and not provide safe spaces for this offending.

    Crossbench Peer and Chair of 5Rights Foundation, Baroness Kidron said:

    It has been a long fight to get the AI Child Sexual Abuse Offences into law, and the Home Secretary’s announcement today that they will be included in the Crime Bill, is a milestone. AI-enabled crime normalises the abuse of children and amplifies its spread. Our laws must reflect the reality of children’s experience, and ensure that technology is safe by design and default.

    I pay tribute to my friends and colleagues in the specialist police unit that brought this to my attention, and commend them for their extraordinary efforts to keep children safe. All children whose identity has been stolen or who have suffered abuse deserve our relentless attention and unwavering support. It is they –  and not politicians – who are the focus of our efforts

    In January, the Home Secretary announced a raft of new measures and an investment of £10 million that will allow us to do more to protect vulnerable children, find more criminals, and get justice for more victims and survivors of child sexual abuse.

    More victims of child sexual abuse and exploitation will be given power to seek an independent review of their cases following the widening of the Child Sexual Abuse Review Panel. Chief constables of all police forces in England and Wales have been urged to re-examine non-recent and live cases of gang exploitation to increase prosecutions.

    At the same time, Baroness Louise Casey has been appointed to lead a rapid audit of existing evidence on grooming gangs to help deliver quicker action to tackle the crime and help victims. By Easter, the government will lay out a clear timetable for taking forward the recommendations from the final IICSA report.

    Policy Manager for Child Safety Online at the NSPCC, Rani Govender said:

    It is encouraging to see the government take action aimed at tackling criminals who create AI generated child sexual abuse images.

    Our Childline service is hearing from children and young people about the devastating impact it can have when AI generated images are created of them and shared. And, concerningly, often victims won’t even know these images have been created in the first place.

    It is vital the development of AI does not race ahead of child safety online. Wherever possible, these abhorrent harms must be prevented from happening in the first place. To achieve this, we must see robust regulation of this technology to ensure children are protected and tech companies undertake thorough risk assessments before new AI products are rolled out.

    Updates to this page

    Published 4 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: UNRWA delivers bulk of aid in Gaza, as destruction mounts in West Bank

    Source: United Nations 4

    Peace and Security

    Some 30,000 residents from Jenin refugee camp in the occupied West Bank have fled their homes after large swathes of it were destroyed in a series of controlled detonations by the Israeli security forces (ISF), the UN agency for Palestine refugees (UNRWA) said on Tuesday.

    UNRWA’s communications director Juliette Touma described catastrophic scenes at the camp, where some 100 buildings had been “destroyed or heavily damaged” by the detonations at the weekend.

    The camp’s residents had “endured the impossible”, she said, after nearly two months of “unceasing and escalating violence” linked to the Israeli military operation.

    “The detonation on Sunday was when children were supposed to go back to school,” Ms. Touma explained, adding that the 13 UNRWA schools in the camp and its surrounding areas remain closed, depriving 5,000 children of education.

    Israeli ban

    UNRWA faces unprecedented challenges to continue carrying out its work following the Israeli parliament’s adoption in October last year of two laws banning its operations in Israeli territory and prohibiting Israeli authorities from having any contact with the agency. The Knesset laws entered into force last Thursday.

    Still, Ms. Touma said that to this day, the Government of Israel has “not communicated to UNRWA how they intend to implement” the laws.

    The agency’s teams are “staying and delivering” in the remaining parts of the West Bank, Ms. Touma said, with basic services, including primary healthcare and education ongoing.

    “Schools and clinics remain open, including in occupied East Jerusalem, providing services to refugees,” the UNRWA spokesperson said. “We are seeing attendance at UNRWA schools at over 80 to 85 per cent.”

    Ms. Touma also reported a “steady increase” in the number of patients visiting the UNRWA health centres in the West Bank, with one clinic in East Jerusalem recording more than 400 patients a day.

    Turning to the Gaza Strip, where humanitarian needs are sky-high, Ms. Touma said that the “biggest priority” for UNRWA teams there is distributing supplies from 4,200 aid trucks that have entered the enclave since the start of the ceasefire on 19 January.

    This is the target number that was set as part of the initial phase of the ceasefire and represents a welcome boost for the people of Gaza whose needs remain enormous – particularly among the hundreds of thousands of people who have returned to the shattered north.

    More trucks are expected to arrive later this week, Ms. Touma said, adding that “hundreds of trucks” are waiting to enter Gaza from Egypt and Jordan.

    Truce opportunity

    The first phase of the temporary truce between Israel and Hamas followed more than 15 months of war which in which some 46,000 Palestinians were killed, according to the Gaza health authorities. The conflict was sparked by the 7 October 2023 Hamas-led attacks on Israel, in which some 1,200 people were killed and 250 were taken hostage.

    Ms. Touma stressed that UNRWA has brought in 60 per cent of all supplies that came into Gaza since the ceasefire began and that the “vast majority” of the aid is distributed by the agency which has more than 5,000 staff there. A fifth of them are health workers, Ms. Touma added, underscoring UNRWA’s major role as a primary healthcare provider in the enclave, offering an average of 17,000 daily consultations.

    Following the Knesset ban, UN chief António Guterres and the heads of many UN agencies insisted that UNRWA is irreplaceable in the Occupied Palestinian Territory.

    Besides obstacles stemming from the new Israeli legislation, the agency’s operations are also constantly in jeopardy because of its “very bad” financial health, Ms. Touma said. The United States, notably, had stopped funding UNRWA as of January 2024.

    The UNRWA spokesperson said that the agency was able to pay salaries to its workers last month but had limited visibility over its financial situation, calling the funding crisis “endemic”.

    MIL OSI United Nations News –