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  • MIL-OSI Global: How the ‘year of the wood snake’ could play out for China’s economy

    Source: The Conversation – UK – By Karen Jackson, Reader in Economics, University of Westminster

    Rimma Bondarenko/Shutterstock

    Chinese people around the world have just celebrated lunar new year, which this year has run from January 28 to February 4. It is the biggest festival of the year in China, signalling the start of spring, and this is the year of the wood snake. According to Chinese astrology, the characteristics of the snake – renewal, potential, opportunity and wisdom – will affect the year ahead.

    As we start the new lunar year, it feels like a good time to look ahead to look at the prospects for the Chinese economy through the prism of these characteristics.

    Renewal of traditional economic drivers

    China dominates global manufacturing – its manufacturing production is as large as the next seven largest competitors combined. This has earned China the title of the world’s manufacturing superpower – but it has come at a cost. The latest data shows that China is among the top 20 most polluted countries across the world.

    Therefore, it’s likely that over the next 12 months, there will be a continued drive towards the renewal, or upgrading, of traditional industrial sectors that have historically driven growth in China but are also heavy polluters.

    This is part of a broader push by China to improve its climate footprint and reduce emissions. These are goals outlined in the national climate action plan, referred to by the Paris climate agreement as the nationally determined contributions.

    Potential for a surge into AI

    China has identified the potential for adopting AI, robotics and 3D printing in transforming its manufacturing base. Meanwhile, the country’s next generation AI development plan sets out clear objectives to make AI the main driver of Chinese economic change and industrial development. Expect to see more progress towards this goal in 2025.

    China’s machine-learning sector has experienced considerable growth, and is predicted to grow by an average of 34.8% a year over the next five years. While the US is the major competitor and commands the largest market size, the recent release of the R1 chatbot by DeepSeek has created a stir.

    DeepSeek claims to have developed its latest R1 model at a cost of around US$6 million (£4.8 million), which is considerably less than its US competitors such as Open AI’s ChatGPT-4, which is reported to have cost more than US$100 million. It’s an indication of the strength of innovation which underlines the potential growth of China’s AI sector, and is likely to help narrow the gap with the US.

    Opportunities for foreign investment

    In addition to upgrading traditional industries, we can expect to see opportunities around new areas of growth in advanced technology sectors such as fintech and green tech. China will continue shifting its focus to industries in which its firms can add lots of value, such as in technology-related manufacturing.

    Major investment is needed to fund these industries and two major changes have occurred in recent months, recognising that this cannot come only from domestic sources.

    First, the changes to China’s A-share market, which went into effect in December 2024, will make it easier for a wider range of overseas investors to enter. For example, smaller amounts of capital are required, and foreign capital can now come from unlisted companies.

    Second, in November 2024, China opened up its manufacturing sector to foreign capital by removing all access restrictions.

    Over the next year, we can expect to see these changes increase the amount of foreign capital in China, and help realise these new areas of growth.

    The wisdom of opening up

    China continues to see the wisdom of opening its economy in terms of investment – and therefore that it is critically important to remain well-connected to the rest of the world.

    The geopolitical tensions with the US are a challenge: the US president, Donald Trump, has said he will impose tariffs of 10% on imports from China. But on a more positive note, breaking protocol last month, Chinese vice-president Han Zheng was invited to, and attended, Trump’s inauguration ceremony.

    It’s an indication of the current US administration’s view of the importance of America’s relationship with China.

    The year ahead is also likely to bring opportunities for the UK to continue its efforts to reset its relationship with China. During the recent visit to Beijing by the chancellor of the exchequer, Rachel Reeves, there was a discussion of a “stable and balanced UK-China relationship”.

    Few expect, or desire, a return to the “golden era” rhetoric of the likes of former UK chancellor George Osborne, who in a speech at the Shanghai Stock Exchange in September 2015 called for Britain and China to work together to ensure mutual prosperity: “Let’s stick together to make Britain China’s best partner in the west. Let’s stick together and create a golden decade for both of our countries.”

    However, greater dialogue with China may be possible, while at the same time carefully managing the UK’s relationship with the new US administration.

    China watchers will be keeping their eyes peeled for other economic developments over the year ahead – for example, the progress of Chinese fiscal reforms and their impact on local and regional finances and income distribution. Also, there is the matter of the real estate market. After significant falls in housing sales and investment during 2024, house prices are showing signs of stabilising.

    China’s economy will face challenges in the year ahead. But there are also some clear opportunities for this manufacturing giant, particularly in the tech sector as it starts to narrow the gap with the US.

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

    – ref. How the ‘year of the wood snake’ could play out for China’s economy – https://theconversation.com/how-the-year-of-the-wood-snake-could-play-out-for-chinas-economy-248779

    MIL OSI – Global Reports –

  • MIL-OSI Global: DRC rebels take eastern city of Goma – why it matters and what could happen next

    Source: The Conversation – UK – By Dale Pankhurst, PhD Candidate, School of History, Anthropology, Philosophy and Politics, Queen’s University Belfast

    In a major escalation in the conflict in the eastern Democratic Republic of the Congo (DRC), rebels from the March 23 Movement – or M23 – have seized Goma, the capital city of North Kivu province. At least 773 people have been killed there since the M23 claimed to have won control on January 27, while rebels have also seized several other towns in North Kivu including Sake and Minova.

    The rebels are now reportedly advancing towards Bukavu, the capital of South Kivu province. And Corneille Nangaa, who leads a rebel alliance of which M23 is the largest member, has vowed to march on the DRC’s capital in Kinshasa. Located 1,000 miles west of Goma, the capture of Kinshasa is unlikely. But the conflict still looks set to spread deeper into the DRC.

    The speed of the M23 advance has taken many by surprise. The rebels captured Goma, a city of 2 million people, within just three days. But the conflict between the DRC and the M23, which takes its name from the 2009 date on which a deal was reached to end a revolt by members of the ethnic Tutsi group, has been grinding on intermittently for years.

    Beginning in April 2012, when the M23 was formally created, the conflict has its roots in the same deep ethnic divisions that led to the Rwandan genocide in 1994. Following the genocide, where radical ethnic Hutus killed roughly 800,000 minority Tutsis, many Hutu extremists fled over the border into the DRC and settled in areas including North Kivu.

    The M23 seeks to act as a self-defence force for Congolese Tutsis against discrimination both by the DRC and non-state actors. This includes targeting by the Democratic Forces for the Liberation of Rwanda, a Hutu-dominated rebel group that seeks to overthrow the Rwandan government. The group has in the past committed egregious acts of violence against civilians in North Kivu, including mass killings and sexual violence.

    The M23 rebel group seized the city of Goma on January 27.
    The Critical Threats Project at the American Enterprise Institute

    The seizure of Goma is crucial for several reasons. First, it means that a sizeable and strategically important border province of the DRC is now in rebel hands. North Kivu is an active volcanic region that is rich in various minerals such as coltan, which is used in electronic equipment and the aerospace industry.

    In May 2024 the M23 seized Rubaya, a key mining town that produces 15% of the world’s coltan. Since then, the group has generated considerable income from controlling mineral production and trade. Indeed, the Global Initiative against Transnational Organized Crime labels the agendas of armed groups in the eastern DRC as “profit-driven”.

    Second, the capture of Goma has exacerbated inter-state tension between the DRC and Rwanda, raising the prospect of another inter-state war. News of the prized seizure came hours after the DRC’s foreign minister, Thérèse Kayikwamba Wagner, accused Rwandan troops of invading Congolese territory.

    A UN report from 2013 found that Rwanda not only supports the M23 group, but actively commands its troops. UN experts now estimate that there are up to 4,000 Rwandan troops fighting alongside the M23 in the DRC. Rwanda has denied backing the M23 despite ample evidence to the contrary.

    The Congolese government says Rwanda’s involvement is part of a ploy to exploit North Kivu’s vast mineral resources. In a report from December 2024, a panel of UN experts wrote that “fraudulent [mineral] extraction, trade and export to Rwanda” benefited both the M23 “and the Rwandan economy”. According to the Rwandan government’s own figures, the country exports far more gold than it mines.

    And third, the escalating conflict will deepen an already grave humanitarian crisis in the region. In March 2024, the UN reported that the number of internally displaced people in the DRC had reached 7.2 million – one of the largest such crises in the world. It is estimated that over 6 million civilians in the east of the DRC are now facing high levels of food insecurity.

    What next

    The DRC and Rwandan governments have already gone to war on two previous occasions, once in 1996 and then again in 1998 in what turned into a more protracted five-year conflict. The first war was triggered by Rwanda’s invasion of the DRC to target anti-Rwandan rebel groups seeking refuge there. The war soon drew in other states and became known as Africa’s first world war. Since 1996, conflict in the eastern DRC has killed approximately 6 million people.

    Yet despite this increased tension, there are hopes that a diplomatic solution can be reached. In the past, warring factions in the eastern DRC have agreed to temporary ceasefires following intensive mediation by international institutions such as the East African Community and the African Union, as well as neighbouring countries like Angola.

    However, previous ceasefires have also been violated by both sides. And the stakes are arguably higher this time, with the DRC losing further territory and control over strategic cities to the rebels.

    The Congolese government may be reluctant to accept peace conditions until it regains control over lost portions of territory. Indeed, the Congolese president, Félix Tshisekedi, has already snubbed prospective peace talks to establish a ceasefire.

    Western powers hold key leverage, and may be able to subdue the M23 insurgency. France has given its backing to the DRC government and has warned of the catastrophic humanitarian consequences should the situation deteriorate further.

    The US and other major powers like the UK have also withdrawn state funding for Rwanda in the past over its support for the M23 insurgency. In 2013, for example, cuts to foreign aid forced Rwanda to scale back its support for the rebels, both through reduced military training and supply runs. The UK government has threatened to withdraw funding to Rwanda again following the M23’s capture of Goma.

    Belgium, on the other hand, is leading calls for the EU to suspend a controversial minerals deal with Rwanda that boosts the bloc’s access to several elements in exchange for funding to help Kigali develop its mineral extraction infrastructure. When the deal was signed in 2024, Tshisekedi described it as “a provocation in very bad taste”.

    In any case, a ceasefire between the DRC and the M23 is not enough. What is needed is a long-term, durable solution that addresses the root causes and fears that are driving the armed conflict.

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

    – ref. DRC rebels take eastern city of Goma – why it matters and what could happen next – https://theconversation.com/drc-rebels-take-eastern-city-of-goma-why-it-matters-and-what-could-happen-next-248393

    MIL OSI – Global Reports –

  • MIL-OSI USA: NEWS: Sanders, Hawley Introduce Bill Capping Credit Card Interest Rates at 10%

    US Senate News:

    Source: United States Senator for Vermont – Bernie Sanders
    WASHINGTON, Feb. 4 – As millions of working class families struggle to afford the high prices of groceries, gas, rent and other basic necessities, Sen. Bernie Sanders (I-Vt.) and Josh Hawley (R-Mo.) introduced bipartisan legislation to cap credit card interest rates at ten percent.
    “During the campaign, President Trump pledged to cap credit card interest rates at ten percent,” Sanders said. “Today, I am proud to be introducing bipartisan legislation with Senator Hawley to do just that. When large financial institutions charge over 25 percent interest on credit cards, they are not engaged in the business of making credit available. They are engaged in extortion and loan sharking. We cannot continue to allow big banks to make huge profits ripping off the American people. This legislation will provide working families struggling to pay their bills with desperately needed financial relief.”
    “Working Americans are drowning in record credit card debt while the biggest credit card issuers get richer and richer by hiking their interest rates to the moon. It’s not just wrong, it’s exploitative. And it needs to end,” said Hawley. “Capping credit card interest rates at 10%, just like President Trump campaigned on, is a simple way to provide meaningful relief to working people. Let’s do it.”
    In September, the Trump campaign said, “President Trump has promised to cap interest rates at 10% to provide temporary and immediate relief for hardworking Americans who are struggling to make ends meet and cannot afford hefty interest payments on top of the skyrocketing costs of mortgages, rent, groceries and gas.”
    The Sanders-Hawley bill would immediately cap credit card interest rates at 10 percent. The legislation would be in effect for five years.
    This bipartisan bill comes after a recent Forbes report found that the average credit card interest rate is 28.6%, even though banks are able to borrow money from the Federal Reserve at less than 4.5%.
    In 2022, credit card companies generated an incredible $130 billion in interest and fees. Today, the American people hold a record-breaking $1.17 trillion in credit card debt. As of 2023, the average household with credit card debt has over $21,000 in credit card debt. The delinquency rate of credit cards issued by commercial banks is around 3.23%, the highest rate since 2011 in the wake of the Global Financial Crisis.
    If a consumer has a $5,000 credit card balance with a 28% interest rate and can only afford to make the minimum payment of $166 a month it would take that person over 24 years to pay off and would cost nearly $11,000 in interest. If credit card interest rates were capped to 10%, that same consumer would save over $7,000 in interest.
    Usurious credit card interest rates and sky-high fees have allowed credit card companies to make enormous profits and pay their executives exorbitant compensation packages. Over the past five years:
    Visa made $67.5 billion in profits and paid its Executive Chair and former CEO, Alfred F. Kelly, Jr., nearly $140 million in total compensation.
    Mastercard made $44.3 billion in profits and paid its CEO Michael Miebach $77.7 million in total compensation.
    American Express made $33.8 billion in profits, and paid its CEO Stephen Squeri $157.2 million in total compensation.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Guilty pleas secured from illegal waste site owners

    Source: United Kingdom – Executive Government & Departments

    The Environment Agency has attained guilty pleas from two men from Preston, in connection with illegal waste activities.

    Waste at the Skeffington Road site.

    At Blackburn Magistrates’ Court on 29 January, Jamil Hanif, 49 years old of Garstang Road, Preston, pleaded guilty to operating a regulated waste facility without the necessary environmental permit between 1 November 2021 and 6 December 2023.

    Richard Allen, 39 years old of Pope Lane, Preston, also pleaded guilty to illegally depositing controlled waste on the same site between 1 August 2022 and 31 January 2023, in violation of environmental regulations.

    Both defendants received 12-month Community Orders, requiring them to complete 120 hours of unpaid work. 

    • Richard Allen was ordered to pay a £300 contribution to prosecution costs and a £114 government surcharge.  

    • Jamil Hanif was ordered to pay a £1,000 contribution to prosecution costs and a £114 government surcharge.  

    Work continues to tackle waste crime

    A spokesperson for the Environment Agency said: 

    This case highlights our commitment to tackling environmental crime. Illegal waste operations pose significant risks to the environment and legitimate businesses.  

    We are pleased that the defendants have accepted responsibility for their actions, and we will continue to work with partners to ensure compliance with environmental regulations. 

    The case concerns a site owned by Preston City Council, which was initially leased to Finney Skeffington Ltd (FSL), a company directed by Hanif.

    Despite the company’s official dormant status, Hanif used the site for waste storage and sorting activities related to house clearances linked to his wife’s property rental business.

    Allen, acting under Hanif’s instructions, was responsible for tipping waste at the site. 

    Illegal waste activities at the site first came to light in November 2021, when a surveyor appointed by Preston City Council documented significant waste accumulation, including household and commercial waste, construction debris, and car parts.

    As a result, the council terminated FSL’s lease; however, Hanif continued to use the site under a temporary agreement with the council. 

    Further reports from local residents, including photographic and video evidence, showed waste being regularly delivered and dumped on the site, with Allen visibly involved in tipping waste.

    This evidence, along with Environment Agency investigations, led to the prosecution. 

    Updates to this page

    Published 4 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Major groyne refurbishment project announced for Lake and Colwell 4 February 2025 Major groyne refurbishment project announced for Lake Cliffs and Colwell Bay

    Source: Aisle of Wight

    Timber groynes at Lake and Colwell Bay are set to be restored as part of a major Isle of Wight Council scheme to strengthen coastal defences.

    Ten groynes at Lake Cliffs, between Small Hope Beach and Littlestairs Steps, and six at Colwell Bay will undergo refurbishment over the coming months.

    Councillor Paul Fuller, Cabinet member for coastal protection, explained: “The refurbished groynes will help build beach material levels, offering better protection and improving safety for nearby properties and businesses.

    “This project will also save money on future repairs and enhance the appeal of our beaches, which is essential for tourism and local businesses.”

    An Island-based contractor will carry out the work, with minor disruptions expected due to plant and vehicle movements and material storage.

    Natasha Dix, service director for waste, environment and planning, said: “This refurbishment project demonstrates the council’s dedication to maintaining and improving the Island’s coastal infrastructure, ensuring lasting benefits for the community and local economy.”

    MIL OSI United Kingdom –

  • MIL-OSI Security: Marine Corps Passes FY24 Financial Audit

    Source: United States Marines

    WASHINGTON, D.C. —

    For the second year in a row, independent auditors verified that the Marine Corps’ financial records are materially accurate, complete, and compliant with federal regulations and issued an unmodified opinion for Fiscal Year 2024.

    This repeat achievement reinforces the service’s reputation for accountability, discipline, and leadership; and this is only the second time such success has been achieved for a military service in Department of Defense history and twice attributed to the Marines.

    The findings produced by the audit help the service to more efficiently and accurately plan, program, budget, and spend funds appropriated by Congress.

    The Marine Corps’ audit process enabled accurate global tracking and reporting of financial transactions, inventory of facilities, equipment and assets, and accounting for taxpayer dollars spent during the last fiscal year. The auditors also tested the Marines Corps’ network, key business systems, and internal controls.

    “I am immensely proud of this historic achievement and the hard work done by the thousands of Marines, sailors, and civilians across the Marine Corps that made this happen,” said Gen. Eric M. Smith, Commandant of the Marine Corps. “Their efforts tell the American people that a dollar invested in the Marine Corps is a dollar well spent. Passing a second annual audit demonstrates our commitment to being good stewards of our nation’s tax dollars and is part of how we distinguish ourselves as a professional warfighting organization. Make no mistake, passing an audit makes us more ready to fight when our nation calls.”

    Since becoming the first service to pass an annual financial audit, the Marine Corps took additional steps to stabilize its new accounting system and procedures. Independent public accountants contracted by the Department of Defense Inspector General audited all records. Financial management personnel also gained more hands-on experience, which set conditions for a smoother audit this year.

    “The Marine Corps culture has always emphasized accountability to yourself, your fellow Marines, your unit, down to the lowest tactical levels,” said LtGen. James Adams III, Deputy Commandant for Programs and Resources. “But financial reporting for $49 billion in financial assets requires a holistic view from the ground level up to the highest service levels. The audit process demonstrates Marines’ inherent integrity – opening up and illuminating potential audit mistakes and inventory miscounts across the entire chain of command. That can be an uncomfortable experience for Marine leaders of all ranks. Now magnify that across an entire service. By educating all Marines on the importance of accurate counts, and through our use of independent audit and inspection teams, we were able to gain an accurate accounting of the resources entrusted to the Corps.”

    The auditor’s final report, enclosed in the Marine Corps’ Fiscal Year 2024 Agency Financial Report, highlights seven areas for the Marine Corps to improve upon, referred to as material weaknesses.

    The Marine Corps will continue to drive to eliminate these weaknesses through systems improvement and internal controls. While doing this, the Corps will still prioritize the accurate counting and management of its global assets, a challenging task given the vast scope of its operations. By repeating and refining this process, the Corps aims to develop a more fluid and efficient enterprise resource planning system, ultimately positioning itself for long-term mission success and accountability.

    The Agency Financial Report for Fiscal Year 2024 is available at: https://www.pandr.marines.mil/

    MIL Security OSI –

  • MIL-OSI Economics: The Pula depreciated by 0.8 percent against the South African rand.

    Source: Bank of Botswana

    Over the twelve months period to January 2025, the nominal Pula exchange rate depreciated by 3.2 percent against the South African rand, while it appreciated by 0.1 percent against the IMF Special Drawing Rights (SDR). With respect to the SDR constituent currencies, the Pula appreciated by 2.8 percent against the Japanese yen, 2.3 percent against the euro and 0.2 percent against the British pound, while it depreciated by 1.8 percent against the US dollar and 0.2 percent against the Chinese renminbi.

    The Pula depreciated by 0.8 percent against the South African rand, while it appreciated by 0.5 percent against the SDR over the one-month period to January 2025. It appreciated by 1.5 percent against the British pound, 0.6 percent against the euro, 0.5 percent against the US dollar and 0.2 percent against the Chinese renminbi, while it depreciated by 0.4 percent against the Japanese yen.

    MIL OSI Economics –

  • MIL-OSI Economics: BoBC Auction Results – 4 February 2025

    Source: Bank of Botswana

    The Monetary Policy Rate (MoPR) was unchanged at 1.9 percent of the previous week, for a paper maturing on 12 February 2025.   For the 1-month BoBC paper maturing on 5 March 2025, the stop-out yield increased from 2.23 percent to 2.25 percent. The summarised results of the auction held on 4 February 2025, are attached below:

    BOBC Results 4 February 2025.pdf

    MIL OSI Economics –

  • MIL-OSI Economics: Transparency International warns: the Corruption Perceptions Index should not be used to mask democratic decline

    Source: Transparency International

    The Corruption Perceptions Index (CPI) serves as a global benchmark for assessing perceptions of corruption in the public sector. However, no single measure can fully capture the complexity of corruption or the nuances of governance quality. Due to its limited scope, issues like democratic backsliding and restrictions on civil liberties are not accounted for in the scores. Despite this, some governments have leveraged their CPI rankings – or even stagnant scores – to present a misleading image of their governance.

    Effectively curbing corruption requires governments to act on multiple fronts, including building strong, independent institutions and checks and balances mechanisms; ensuring transparency and open governance; enforcing robust legal frameworks to uphold the rule of law; and empowering civil society and a free press to expose and challenge corruption. Integrity in both public and private sectors, underpinned by ethical standards and transparent processes, is essential, alongside public participation. Without a comprehensive and sustained response, efforts to address corruption may falter over time.

    Although the CPI does not assess all pillars of anti-corruption efforts, some governments have misused the results to create a distorted narrative. In Georgia, for example, the government has failed to improve its CPI score since 2012 but continues to tout the country’s performance to obscure serious attacks on democratic processes, rule of law and civil liberties.

    Transparency International’s highlighted state capture and the rise of kleptocratic practices as key corruption-related challenges in the country, and , over the past five years, Georgia has faced notable setbacks in freedom of association and assembly as well as freedom of expression. These challenges are driven by the harsh suppression of anti-government demonstrations, mounting restrictions on civil society, and an increasingly adversarial climate for the media. Our own chapter has not been immune from this expanding repression, with a member of our chapter in Georgia recently being attacked by people linked to the ruling Georgian Dream party. We have before that restricting is a popular tactic to weaken societal checks on corruption, reducing the chances of being denounced for engaging in corruption and facing consequences.

    No existing index or corruption measure fully captures all aspects of corruption, particularly state capture. This highlights the need for further discussions and additional resources to develop additional assessment tools.

    François Valerian, Chair of Transparency International, said:

    “We condemn the misuse of the Corruption Perceptions Index to disguise poor governance, especially when it masks the dismantling of democratic institutions and attacks on activists. The erosion of civil liberties and checks and balances mechanisms, alongside attacks on press freedom, often goes hand in hand with covert forms of corruption like grand corruption and state capture. Those truly committed to fighting corruption should have nothing to hide – transparency, strong institutions, and an empowered civil society are essential, or efforts will fall short.”

    NOTE TO EDITORS

    Transparency International will launch the 2024 CPI on Tuesday, 11 February 2025.

    See also:

    • The Corruption Perceptions Index Explained (video) here
    • The ABCs of the CPI: How the Corruption Perceptions Index is calculated (CPI FAQs) here.
    • The 2024 CPI media advisory here

    MIL OSI Economics –

  • MIL-OSI: Form 8.3 – Intelligent Ultrasound Group Plc

    Source: GlobeNewswire (MIL-OSI)

    8.3

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

    1.        KEY INFORMATION

    (a)   Full name of discloser: Rathbones Group Plc
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		  
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 Intelligent Ultrasound Group Plc
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:  
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 03/02/2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 No

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

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

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

    Class of relevant security: 1p Ord
      Interests Short positions
      Number % Number %
    (1)   Relevant securities owned and/or controlled: 9,427,443 2.84%    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        

            TOTAL:

    		 9,427,443 2.84%    

    All interests and all short positions should be disclosed.

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

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

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

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

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

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

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    1p Ordinary Shares Sale 35,000 12.77p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
             

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

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
                   

    (ii)        Exercise

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

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

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
           

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

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

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

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

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? No
    Date of disclosure: 04/02/2025
    Contact name: Chinwe Enyi – Compliance Department
    Telephone number: 0151 243 7053

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

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

    The Code can be viewed on the Panel’s website at.

    The MIL Network –

  • MIL-OSI United Kingdom: Leading figures to help build NHS fit for the future

    Source: United Kingdom – Executive Government & Departments

    Baroness Camilla Cavendish, Naomi Eisenstadt CB and Phil Jordan become non-executive directors on the board of the Department of Health and Social Care.

    • Baroness Camilla Cavendish, Naomi Eisenstadt CB and Phil Jordan join the Department of Health and Social Care’s board
    • They bring cross-party and wide ranging experience and will provide strategic guidance to support health and care reforms
    • The appointments come as part of the government’s call for the country’s best talent to join its mission to fix the NHS

    Experts from across the public and private sector have been appointed to the DHSC board to drive forward health and social care reform plans.

    Baroness Camilla Cavendish, Naomi Eisenstadt CB and Phil Jordan’s wealth of experience and expertise across the political divide and both the public and private sector will be vital in supporting the government’s key missions to drive down waiting lists and reform the NHS as part of the 10 Year Health Plan, shifting the focus from hospital to community, from sickness to prevention, and from analogue to digital.

    Baroness Cavendish is best known for her time as head of the No.10 Policy Unit under Prime Minister David Cameron, Ms Eisenstadt was the first Director of Sure Start, widely regarded as one of the most important policy initiatives in recent history, while Mr Jordan has held a long and distinguished career in the private sector, including top roles at Sainsbury’s, Telefonica and Vodafone.

    They will join Lead Non-Executive Director Alan Milburn, former Health Secretary under Tony Blair’s government, on the board of DHSC.

    It comes as part of the Government’s call for the best and brightest to join its mission to fix the broken NHS and reflects DHSC’s commitment to drawing on diverse skills and perspectives to ensure it is fit for the future. 

    Wes Streeting, Secretary of State for Health and Social Care, said:

    I am drawing on people of different political persuasions, with public and private sector experience, to help us turn around the NHS, make it fit for the future, and reform social care.

    The NHS is one of the biggest organisations in the world, and building a National Care Service is a generational ambition. We should be competing with global businesses to recruit the best and the brightest to our cause.

    I am delighted to welcome Camilla, Naomi and Phil to their new roles. Their combined expertise in social policy and technology, deep understanding of healthcare and commitment to pragmatism over ideology will be invaluable as we fix our broken NHS.

    If there are other people out there with the skills, experience, and drive to transform the treatment and care of millions of people, then we want your help building our 10 Year Health Plan.

    As Non-Executive Directors, Camilla, Naomi, and Phil will provide independent oversight, constructive challenge, and strategic advice to the department. Their expertise will help shape the DHSC’s mission to ensure the best possible health and care outcomes for everyone across England. 

    The NHS is broken and through the Plan for Change, it is the mission of this government to fix it and make the health service fit for the future. As part of this national mission, experts are being brought in to help develop policy, and NHS staff and patients have been invited to share their experience and ideas to change the NHS at change.nhs.gov.uk.

    Baroness Camilla Cavendish 

    Former head of the No.10 Policy Unit under Prime Minister David Cameron, Baroness Cavendish brings a wealth of experience across public policy, healthcare, and journalism and will draw on her expertise in social care while working at DHSC.

    The vocal advocate for health and social care reform has led significant reviews that have shaped social care policy and practice. Notably, the Cavendish Review (2013) examined the training and development of health and social care support workers. 

    The review highlighted the need for improved standards of training, greater recognition for care workers, and more robust safeguards for those in vulnerable situations. Her recommendations continue to influence workforce development across the sector.

    Naomi Eisenstadt CB

    Naomi Eisenstadt CB has a distinguished career in public policy and social welfare, including serving as the first Director of the Sure Start Unit, where she spearheaded transformative early years programs aimed at reducing inequality, and will bring her expertise on health inequalities to DHSC. 

    The scheme is one of the most successful social policy interventions in the past 30 years, demonstrating the importance of early intervention and prevention — one of the three big shifts this Government is committed to in our 10-Year Plan for Health.

    Currently serving as Chair of the NHS Northamptonshire Integrated Care Board, Naomi’s extensive experience and commitment to improving outcomes for vulnerable communities make her an invaluable addition to the department. 

    Phil Jordan

    Phil Jordan will focus on data and digital capability at DHSC, drawing on his impressive background having led major initiatives across both the public and private sector. 

    With a proven track record in strategic leadership, including as Chief Information Officer at Sainsbury’s, Telefonica and Vodafone UK & Ireland, Phil has been instrumental in driving innovation and efficiency in complex organisations. 

    His expertise will support the department’s ongoing efforts to modernise healthcare delivery and enhance digital infrastructure, as part of the vital shift from analogue to digital, equipping the health service with the cutting-edge technology it needs to tackle waiting lists, improve patient experience and speed up diagnosis.

    Background information

    • These appointments are made in accordance with the Cabinet Office Code of Governance for Public Appointments. The regulation of public appointments against the requirements of this Code is carried out by the Commissioner for Public Appointments.
    • In line with the Governance Code on Public Appointments, political activity is not a bar to appointment but political activity during the last 5 years should be declared. Camilla Cavendish and Phil Jordan have not declared any political activity. Naomi Eisenstadt is a member of the Labour Party.
    • Government non-executives provide advice and bring an external perspective to the business of government departments by sitting on departmental boards. They do not have decision-making powers.
    • See DHSC public appointments: 2024 to 2025 for further information.
    • NHSE is currently advertising non-executive vacancies. For further information, please see: Non-executive opportunities in the NHS » Public appointments

    Updates to this page

    Published 4 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Get creative with Large Props Workshops at the Alley

    Source: Northern Ireland – City of Derry

    Get creative with Large Props Workshops at the Alley

    4 February 2025

    Anyone with an interest in creating eye-catching festival props is encouraged to get involved with a series of workshops due to begin at the Alley Theatre shortly. 
    Every Saturday from 15th February-8th March, these hand-ons, free workshops are open to both students and adults. The Large Prop Workshops, which run from 12-3pm, offer a unique opportunity to explore the art of crafting props for the Alley Theatre and Strabane Festivals such as St Patrick’s Day, Summer Jamm and Strabane Halloween.
    Led by experienced facilitator Sheila Byrne, participants will learn the ins and outs of designing, creating, and working with large props that bring productions and festivals to life. Whether you’re an aspiring artist, a student with an interest in theatre design, or simply someone looking to explore your creative side, these workshops will guide you through the process of designing, crafting, and manipulating large props. Participants will gain practical skills in prop-making, materials, and techniques – helping bring larger-than-life creations to reality.
    The Alley Theatre is proud to offer this exciting opportunity, encouraging both local talent and those new to theatre, events and festivals to get involved in the magic of stagecraft. Known for its dedication to community arts, the Alley Theatre is the perfect setting for this creative journey.
    Don’t miss out on this fantastic, free opportunity to get hands-on with theatre magic! 
    Places are filling up fast, so don’t miss out.  Book your place on the Alley Theatre website or call the Alley Theatre Box Office on 028 71 3844444.
     

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Council responds to Deloitte’s Annual Crane Survey

    Source: City of Manchester

    Council Leader Cllr Bev Craig and Chief Executive Tom Stannard react to the survey that provides a commentary on the construction sector in the UK’s major cities.

    Leader of Manchester City Council Bev Craig said:

    “The annual crane survey shows that Manchester continues to have a strong and growing economy, and our city and region remains one of the most important engines of growth in the UK – and one of the fastest growing places in Europe.

    “The survey is a useful litmus test that makes sure that our city continues to thrive, and despite a challenging economic backdrop for much of the country, we are building record numbers of homes – including more affordable housing than at any other point in the last decade – we saw more than 1m sq ft of much-needed office space delivered to market last year alone, with more than 1.5m sq ft under construction, alongside a range of commercial space opportunities. 

    “Manchester is leading the way in construction, but this isn’t just about buildings. This is about driving investor confidence to create a long-term supply of development. This is about creating high quality employment opportunities that help our residents to prosper. And it’s about creating a global city that is attractive, welcoming and future proof. 

    “The pandemic presented a range of economic challenges for the UK’s towns and cities, and building has broadly slowed. Thankfully Manchester is bucking that trend and we are continuing to attract major business, investment and residential opportunities that will help meet demand and support our city’s ongoing growth.”

    Tom Stannard, Chief Executive of Manchester City Council, said: 

    “The annual Crane Survey shows some very encouraging signs that Manchester is continuing to weather a very challenging period for the UK’s town and cities. Sustainable economic growth is good for Manchester and our region, and it’s good for the country. 

    “We are seeing high demand for premium office space met with major investment in our city centre, which in turn supports new employment opportunities – vital to help our residents succeed. We are also seeing tourism bounce back to pre-pandemic levels, and we are meeting the targets set out in our ambitious housing strategy. 

    “This tells a story of a city that is weathering the economic storm, despite very real and ongoing challenges.  Manchester is a place that is attracting new business and quality development, we are at the forefront of the UK’s growing tech sector, and we are a place where our residents are supported to thrive and share in the success of the city.

    “We of course stand ready to continue to support the Government on their economic growth mission, which puts our city and region as a key engine of growth for both the North and the UK at large.”

    Find out more about the Deloitte Crane Survey findings

    MIL OSI United Kingdom –

  • MIL-OSI Russia: The “Lines Scorched by War” project has opened access to a digitized newspaper archive

    Translartion. Region: Russians Fedetion –

    Source: State University of Management – Official website of the State –

    On the 80th anniversary of the opening of the Yalta Conference in 1945, we inform all employees and students of the State University of Management that a digitized archive of newspapers published during the Great Patriotic War has been opened to us.

    Access is open until June 30, 2025, as part of the project “Lines Scorched by War”, dedicated to the 80th anniversary of the Great Victory. The project is aimed at popularizing historical knowledge and countering the falsification of past events. War newspapers are an important document of the era, reflecting the resilience and unity of people in the fight for Victory. This is an opportunity to touch living history, preserve the memory of the heroism of the people and convey it to new generations.

    What’s available? Key publication numbers from the war years:

    Newspaper “Pravda”; Newspaper “Izvestia”; Newspaper “Literary Gazette”; Newspaper “Red Star”; Weekly “Ogonyok”. Collection of underground newspapers of the partisans of Belarus.

    Please note: You may read, save, print articles (subject to copyright restrictions), and use the moderate text search function for research purposes.

    Address for work: https://eivis.ru/

    For remote access: login – Univerupr, password – Univerupr

    On this same platform you will find magazines and newspapers by subscription.

    Subscribe to the TG channel “Our GUU” Date of publication: 02/04/2025

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Olympiad “Future of the EAEU”: enroll in a master’s program for free

    Translartion. Region: Russians Fedetion –

    Source: State University of Management – Official website of the State –

    The State University of Management invites citizens of the EAEU and friendly states to take part in the international Olympiad “The Future of the EAEU”.

    Foreign participants of the Olympiad who demonstrate the best achievements can apply for budget places within the quota approved by the Government of the Russian Federation.

    The University offers the opportunity to study in the field of Management in Master’s degree programs in English: International Business Management (in English) or Hotel and Tourism Business. International English-language Master’s degree.

    Students of the State University of Management have the opportunity to use all digital resources and online interaction opportunities: lectures, educational materials, cases, individual consultations, etc.

    All international students are provided with dormitory accommodation for the duration of their studies. The State University of Management provides comfortable conditions on its own campus on a well-kept territory just a stone’s throw from the metro with a swimming pool, sports grounds, coworking spaces, a modern library and cozy cafes.

    Registration will be open until February 20, 2025 at the link: https://my.guu.ru/competitions/auth/login.

    For questions and advice on participation and admission, please send us an email to: future.of.eaeu@mail.ru.

    Subscribe to the TG channel “Our GUU” Date of publication: 02/04/2025

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    MIL OSI Russia News –

  • MIL-OSI Russia: Mikhail Piotrovsky became an Honorary Doctor of SPbPU

    Translartion. Region: Russians Fedetion –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    A ceremony of presenting the mantle and diploma of Honorary Doctor of SPbPU to the General Director of the State Hermitage Museum Mikhail Piotrovsky took place at Peter the Great St. Petersburg Polytechnic University.

    The decision to award this high title to the head of the country’s main museum was made unanimously by the members of the Academic Council on December 2, 2024.

    It is a great honor and happiness for us that such a legendary person as Mikhail Borisovich Piotrovsky has appeared in the ranks of the Polytechnics, without exaggeration, – SPbPU Rector, Academician of the Russian Academy of Sciences Andrei Rudskoy opened the ceremony and asked the Scientific Secretary of the Polytechnic Dmitry Karpov to present the new Honorary Doctor in accordance with protocol.

    It would seem that there is no person not only in St. Petersburg, but also far beyond its borders, who would not know the historian-orientalist, doctor of historical sciences, professor, academician of the Russian Academy of Sciences and the Russian Academy of Arts, Honorary Citizen of St. Petersburg Mikhail Borisovich Piotrovsky. However, Dmitry Karpov found such words and such an unusual presentation for the presentation of Mikhail Piotrovsky that the personality of the Hermitage director was revealed in a new and vivid way. The book “Good Tone. Conversations Without Courage, Recorded by Irina Klenskaya” helped with this. Thus, based on quotes from Mikhail Borisovich himself, Dmitry Anatolyevich composed a lively and figurative essay.

    Quote: Only culture is capable of transforming chaos into strict order, and the chaos of the world into harmony. That is why the Hermitage is becoming an important and powerful player in the public life of not only the country, but the entire world.

    Dmitry Karpov recalled the “Great Hermitage” program, which is based on the idea of making the collections of the country’s main museum accessible through a complex of open storage facilities and satellite museums. Cultural and educational centers have already been built: “Hermitage-Kazan”, “Hermitage-Ural”, “Hermitage-Vyborg”, “Hermitage-Siberia” in Omsk and “Hermitage-Eurasia” in Orenburg. They are being built in Kaluga, Nalchik, Vladivostok.

    Polytechnic students are well aware of the long-term and fruitful joint work of the university and the Hermitage: since 2016, an agreement on cooperation in the development and improvement of engineering systems and security systems for Hermitage facilities, in the field of 3D modeling, has been in force. During the year of the pandemic, Polytechnic students made about 11 thousand protective screens and masks for the museum. At the end of 2023, the agreement was updated and expanded. Within the framework of cooperation, the following are carried out: excursions for students Polytechnic University in the Restoration and Storage Center of the Hermitage “Staraya Derevnya”, thanks to which future specialists become familiar with modern engineering technologies, automation systems and support for the climate parameters of the storage facility, as well as the functioning of alternative energy.

    Dmitry Anatolyevich cited an excerpt from a story about the Atlanteans of the New Hermitage, work on which began in 1845: “Never in Europe has any sculptor produced such figures from granite as the ancient Egyptians and Greeks did. Now this fantastic art, this great skill has become Russian” – this is how contemporaries spoke about the creation of Alexander Ivanovich Terebenev.”

    The St. Petersburg Polytechnic University also has a special feeling for the Hermitage Atlanteans – in 2022, the team of the NTI Center of SPbPU completed laser scanning of the portico of the New Hermitage and the sculptures of the Atlanteans and processing of the obtained data. Based on the results of the work together with the Hermitage art historians, a large two-part article was published: “Information modeling for the preservation of cultural heritage: the portico of the new Hermitage building and the sculptures of the Atlanteans.”

    Laser scanning and data processing of the interior of the New Hermitage building was also carried out to create three-dimensional models as part of the “Virtual Tour of the Hermitage” project, and scanning of the Alexander Column on Palace Square.

    “It is a great honor and responsibility for the university to make a feasible contribution to the preservation of truly priceless symbols of our city, our common cultural heritage,” Dmitry Karpov emphasized, concluding the presentation. “Deeply respected Mikhail Borisovich, we are proud of our country, our culture and our Hermitage. And the fact that together with you we do everything possible so that our country is strong, rich, glorious and respected.”

    After this, the rector of the Polytechnic announced: “Bring in the Honorary Doctorate diploma, the mantle and the medal!”

    According to tradition, the doctoral gown and cap were brought into the hall of the Academic Council by students dressed in the uniform of polytechnics of the early 20th century. The ceremony was accompanied by the Gaudeamus anthem performed by the Polyhymnia choir. Mikhail Borisovich was presented with a book about the Honorary Doctors of the Polytechnic University – his page is in it.

    In his response, Mikhail Piotrovsky thanked for the honor bestowed upon him and noted that the tradition of conferring Honorary Doctors of the Polytechnic University is an important element of St. Petersburg culture. Mikhail Borisovich emphasized that he is connected with the Polytechnic University not only by long-term cooperation, but now by joint work in the St. Petersburg branch of the Russian Academy of Sciences, headed by Andrei Rudskoy.

    “We have many different connections,” noted Mikhail Piotrovsky. “My deputy, Alexey Valentinovich Bogdanov, associate professor, teaches at the Polytechnic University, 49 graduates of the university work at the Hermitage, you give us wonderful personnel. What we are doing together is the most important topic today for society: the combination of science and art. We have many opportunities for further joint work, entire programs that are very important both for us and for the development of science. We would like students, under the guidance of teachers, to participate in our digitalization processes, primarily in the field of big data. Together we could make an exhibition of beautiful exhibits of technical progress preserved in the Hermitage – wonderful astrolabes, spheres, globes, clocks. We have them, they all function, but it would be good to tell about them beautifully, developing the experience of the multimedia Hermitage. Today, the “Great Hermitage” was mentioned, our next project is “Heavenly Hermitage”, a cloud-based one, it is a backup copy in which everything that is not done in the earthly Hermitage can take place. And here we would like your intellectual and expert help.”

    Mikhail Piotrovsky said that the Hermitage has many advisory councils, and it would be possible to create a separate student council, under the leadership of teachers. As ideas for cooperation with students, Mikhail Piotrovsky also suggested thinking about forecasting the condition of museum objects and “taming technology.”

    In closing the ceremony, Andrey Rudskoy thanked Mikhail Piotrovsky for his businesslike approach and outlook on the future and promised that all ideas and proposals were accepted, would be discussed and implemented.

    Photo archive

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    MIL OSI Russia News –

  • MIL-OSI Russia: Financial News: Few Financial Institutions Take Climate Risks Into Account: Bank of Russia Survey

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    Only a small proportion of financial institutions fully integrate risks associated with reducing greenhouse gas emissions and adapting to climate change into their corporate governance systems. These include: survey results Bank of Russia, conducted to assess the implementation recommendations regulator.

    Banks are more involved in the climate agenda than NPFs and insurance companies. Some of them already set the relevant conditions in loan agreements.

    Monitoring climate and environmental strategies The Bank of Russia’s survey of the largest non-financial companies showed that companies have begun to better disclose climate information and set more ambitious goals. However, environmental goals are often formal in nature.

    Russia’s trading partners continue their transition to a low-carbon economy and introduce regulations that will affect international trade. Therefore, the Bank of Russia intends to describe in more detail the methodologies for taking into account climate risks and develop recommendations for banks on how to manage them. It also plans to continue climate stress testing and encourage financial institutions to assess these risks independently.

    Preview photo: Sergey Bobylev / TASS

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //vv. KBR.ru/Press/Event/? ID = 23335

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: Myths about the digital ruble – filing a refusal application at the MFC

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia (2) –

    Updated: 18.04.2023

    If you have non-cash rubles in your bank account, they can be exchanged for digital rubles at a one-to-one ratio. Using the usual mobile application of the bank you use, you can go to the digital wallet and perform the necessary operation using the “Top up” function. No commission.

    If you have cash, you will first need to deposit it into your bank account (via an ATM or bank teller), and then exchange it for digital by topping up your digital wallet from your bank account via your usual mobile app.

    If you need to withdraw money from a digital wallet, you should first transfer it to your bank account. This can also be done through a familiar mobile application, and then withdraw cash from an ATM or bank teller.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 05.02.2025 will be held deposit auction of JSC “Corporation “MSP”

    Translartion. Region: Russians Fedetion –

    Source: Moscow Exchange – Moscow Exchange –

    Parameters;

    The date of the deposit auction is 02/05/2025. Placement currency is RUB. The maximum amount of funds placed (in the placement currency) is 885,000,000.00. Placement period, days is 28. Date of depositing funds is 02/05/2025. Date of return of funds is 03/05/2025. Minimum placement interest rate, % per annum is 20.00. Terms of the conclusion, urgent or special (Urgent). The minimum amount of funds placed for one application (in the placement currency) is 885,000,000.00. The maximum number of applications from one Participant, pcs. 1. Auction form, open or closed (Open). Basis of the Agreement is the General Agreement. Schedule (Moscow time). Applications in preliminary mode from 10:30 to 10:40. Applications in competition mode from 10:40 to 10:50. Setting a cut-off percentage or declaring the auction invalid before 11:30.

    Additional terms

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV. MEEX.K.Mom/NN77376

    MIL OSI Russia News –

  • MIL-OSI USA: U.S. coal exports reached a six-year record in June 2024

    Source: US Energy Information Administration

    In-brief analysis

    February 4, 2025

    Gross U.S. coal exports in June 2024 totaled 10 million short tons, the most in a month since October 2018, data from our Short-Term Energy Outlook data browser show. Annual average U.S. coal exports were 9.0 million short tons in 2024. U.S. coal exports have increased each year since 2020, when they averaged 5.8 million short tons amid the COVID-19 pandemic.

    U.S. coal exports consist of both steam coal and metallurgical coal that are produced in the United States and sent to other countries. Steam coal, also known as thermal coal, is used by coal-fired power plants to generate electricity and by consumers to heat their homes or businesses. Metallurgical coal is used mainly to produce steel, so demand for metallurgical coal closely follows demand for steel.

    In our Short-Term Energy Outlook, we forecast that U.S. coal exports will exceed 10.0 million short tons in only two months during 2025 and 2026—in December of each year.

    Principal contributors: Kimberly Peterson, Kristen Tsai

    MIL OSI USA News –

  • MIL-OSI: Fengate expands retirement community portfolio with the acquisition of two new properties in British Columbia

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 04, 2025 (GLOBE NEWSWIRE) — Fengate Asset Management (‘Fengate’) is pleased to announce the successful close of two premier seniors housing properties in Vancouver, British Columbia. The acquisition marks Fengate’s and Seasons Retirement Communities’ (‘Seasons’) first venture into the British Columbia market, further growing its portfolio of retirement communities across Canada.

    The new properties, Seasons Arbutus Walk and Seasons Wesbrook Village, collectively offer 295 rental suites and 88 managed condominium suites located in two of Vancouver’s most sought-after neighbourhoods, offering residents easy access to parks, local amenities, and cultural attractions.

    Fengate and Seasons are managing this investment on behalf of their investors, including the LiUNA Pension Fund of Central and Eastern Canada (‘LPFCEC’).

    “We are proud to build on our legacy of empowering Canada’s seniors through market-leading housing that advances Seasons’ mission of affecting positive change in the lives of this vital and growing community,” said Joseph Mancinelli, International Vice President and Regional Manager for Central and Eastern Canada at LiUNA.

    “This acquisition is transformational for Fengate and Seasons as we build the foundation for our growth in British Columbia. Fengate and Seasons are well positioned to capitalize on the growing seniors’ demographic in this key strategic growth market and across Canada,” said Jaime McKenna, President Fengate Real Estate.

    “Seasons is pleased to continue to work with Fengate to diversify our portfolio of quality retirement communities,” said Michael Lavallée, Chief Executive Officer at Seasons Retirement Communities.

    “Our best-in-class management team is committed to collaborating with our communities to provide residents with a continuum of care within a warm, welcoming, and vibrant atmosphere that embodies the Seasons promise.”

    Established in 2009 by Fengate, Seasons Retirement Communities is a Canadian company that currently owns and operates 25 retirement communities across Ontario, Alberta, and British Columbia, with more developments underway. Seasons is dedicated to addressing the needs of Canada’s aging population by offering exceptional seniors housing and services.

    MEDIA CONTACT

    Matthew Ventura
    Director, Communications and Marketing, Real Estate
    Fengate Asset Management
    matthew.ventura@fengate.com
    416-432-6194

    About the LiUNA Pension Fund of Central and Eastern Canada

    Established in 1972, the LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) is one of the fastest growing multi-employer pension funds across Canada, voted top 10 pension funds by Benefits Canada. With a diverse investment portfolio and over $12 billion in assets, LPFCEC has yielded positive returns for the plan, great work opportunities for LiUNA members, and has created many needed institutions across North America through a broad range of investments. Learn more at lpfcec.org.

    About Fengate Asset Management

    Fengate is a leading alternative investment manager, with more than $40 billion of assets under management, focused on infrastructure, private equity, and real estate strategies. With offices and team members in Canada and the United States, Fengate has a proven track record of successful projects and partnerships and an established reputation as one of the most active real asset investors and developers in North America. Fengate Real Estate, a division of Fengate Asset Management, is a fully integrated real estate investment, development and asset management platform with a $20 billion portfolio, including a 25,000+ residential unit pipeline and 5M+ square feet of industrial space in varying stages of development. Learn more at fengate.com.

    About Seasons Retirement Communities

    Established in 2009, Seasons is a Canadian company that operates 15 retirement residences in Ontario, eight residences in Alberta, and two in British Columbia, with more under development. Our management team has extensive experience in the senior housing sector and has developed a culture dedicated to providing residents with superior customer service. At Seasons, we want our residents to feel proud to call us home and to know they are surrounded by people who genuinely care. Connect. Care. Change®.

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/83e9e1fe-ce65-4988-aa79-2d431daa80e1
    https://www.globenewswire.com/NewsRoom/AttachmentNg/09619cb9-0b02-456e-aa3e-aaa24488aa2b

    The MIL Network –

  • MIL-OSI: Tactile Medical Expands Launch of Nimbl™ to Include Patients with Lower Extremity Lymphedema

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS, Feb. 04, 2025 (GLOBE NEWSWIRE) — Tactile Systems Technology, Inc. (“Tactile Medical”; the “Company”) (Nasdaq: TCMD), a medical technology company providing therapies for people with chronic disorders, today announced that Nimbl, its next-generation pneumatic compression platform, is now commercially available throughout the United States (U.S.) for the treatment of both upper and lower extremity lymphedema. Nimbl’s expanded availability to include lower extremity conditions (“phlebolymphedema”) follows its commercial introduction in October 2024, initially focused on treating patients suffering from upper extremity lymphedema.

    “On the heels of Nimbl’s launch for patients with upper extremity swelling, we are pleased to now expand access to the 16 million Americans with chronic swelling in the lower extremities,” said Sheri Dodd, Chief Executive Officer at Tactile Medical. “These patients require effective, convenient therapies to help manage their symptoms. With Nimbl, they now have access to a solution which embodies patient-focused innovation and reflects our commitment to serving patients and improving their care experience.”

    Nimbl is the smallest pneumatic compression device (PCD) of its kind, featuring a compact controller that is 68% lighter and 40% smaller than the Company’s current generation PCD. The lower extremity garment uses 94% less hosing, making the device easy to transport and manage. Nimbl is the only basic PCD with Bluetooth® connectivity, providing patients a way to track their treatments and symptom progress with the Company’s free Kylee™ digital application.

    “Nimbl for lower extremity lymphedema is intentionally designed as a user-friendly, patient-centric treatment option that is comfortable, clinically effective, and optimized for increased adherence,” said Tony Gasparis, MD, Chief Medical Officer at Tactile Medical. “Its physical dimensions and significant reduction in hose length afford patients the ability to more easily transport Nimbl around the home, or take it with them when traveling, providing an improved all around patient experience.”

    About Tactile Systems Technology, Inc. (DBA Tactile Medical)

    Tactile Medical is a leader in developing and marketing at-home therapies for people suffering from underserved, chronic conditions including lymphedema, lipedema, chronic venous insufficiency and chronic pulmonary disease by helping them live better and care for themselves at home. Tactile Medical collaborates with clinicians to expand clinical evidence, raise awareness, increase access to care, reduce overall healthcare costs and improve the quality of life for tens of thousands of patients each year.

    Investor Inquiries:
    Sam Bentzinger
    Gilmartin Group
    investorrelations@tactilemedical.com

    The MIL Network –

  • MIL-OSI: January Chapter 11 Commercial Filings Increase 16 Percent Over Last Year

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK and ALEXANDRIA, Va., Feb. 04, 2025 (GLOBE NEWSWIRE) — There were 539 commercial chapter 11 filings recorded in January 2025, a 16 percent increase from the 465 commercial chapter 11s in January 2024, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. Overall commercial bankruptcy filings rose 11 percent in January 2025, with the 2,358 filings ticking up from the 2,126 filings in January 2024. Small business filings, captured as subchapter V elections within chapter 11, increased 7 percent to 171 in January 2025, up slightly from 160 in January 2024.

    Total bankruptcy filings increased 13 percent to 41,492 in January 2025 from the 36,629 filings recorded in January 2024. Individual bankruptcy filings also increased 13 percent in January to 39,134, up from the January 2024 individual filing total of 34,503. There were 22,938 individual chapter 7 filings in January 2025, a 17 percent increase over the 19,580 filings recorded in January 2024, and there were 16,087 individual chapter 13 filings in January 2025, an 8 percent increase over the 14,873 filings last January.

    “Total bankruptcy filings continue to grow double digit percentages each month,” said Michael Hunter, Vice President of Epiq AACER. “The signs of consumer stress also have become more pronounced as credit card delinquency reach a 12-year high and the share of those active credit card holders making the minimum payments are at a 13-year high. I expect this growth trend to continue and then accelerate after tax season concludes into the summer months.”

    “The pace of year-over-year increases for both small business subchapter V elections and consumer chapter 13 filings continues to taper following the expiration last year of enhanced debt limits for both filing categories,” said ABI Executive Director Amy Quackenboss. “We look forward to continuing to work with Congress to provide the data and research needed to demonstrate how higher debt-eligibility limits for small businesses and individuals creates greater access and a more efficient process for families and businesses looking for a financial fresh start.”

    Compared to December, bankruptcy filings registered moderate fluctuations. Total bankruptcies increased 9 percent over December’s 38,130 filings, and consumer bankruptcies also edged up 9 percent over December’s total of 35,791. Individual chapter 7s increased 5 percent, and chapter 13s increased 17 percent, from December’s filings. Overall commercial filings increased 1 percent from the 2,339 filings registered in December. Conversely, commercial chapter 11s decreased 3 percent from December’s 553 filings, and subchapter V elections within chapter 11 decreased 9 percent from the 187 filed in December 2024.

    ABI has partnered with Epiq Bankruptcy to provide the most current bankruptcy filing data for analysts, researchers, and members of the news media. Epiq Bankruptcy is the leading provider of data, technology, and services for companies operating in the business of bankruptcy. Its Bankruptcy Analytics subscription service provides on-demand access to the industry’s most dynamic bankruptcy data, updated daily. Learn more at https://bankruptcy.epiqglobal.com/analytics.

    About Epiq
    Epiq, a global technology-enabled services leader to the legal industry and corporations, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at https://www.epiqglobal.com.

    About ABI 
    ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 10,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abi.org. For additional conference information, visit http://www.abi.org/calendar-of-events.

    Press Contacts
    Carrie Trent
    Epiq, Director of Communications & Public Relations
    Carrie.Trent@epiqglobal.com

    John Hartgen
    ABI, Public Affairs Officer
    jhartgen@abi.org

    The MIL Network –

  • MIL-OSI: Melissa Alert Service Revolutionizes Active Data Quality with Real-Time Alerts

    Source: GlobeNewswire (MIL-OSI)

    RANCHO SANTA MARGARITA, CALIF., Feb. 04, 2025 (GLOBE NEWSWIRE) — The critical nature of data accuracy has paved the way for Melissa’s newest data quality solution—the first of its kind to run automated checks giving businesses real-time insights into changes within their customer data. Melissa Alert Service is a transformative cloud-based contact management service (CMS) that promises to streamline operations, improve decision-making, and maintain the most accurate customer records for organizations across industries.

    “As an all-in-one hub for data storage, validation, and monitoring, Melissa Alert Service represents a dramatic shift in how businesses manage data quality,” said Bud Walker, Chief Information Officer at Melissa, a global leader in data quality and address management solutions. “By continuously monitoring and updating customer data, this service eliminates manual checks, reduces errors, and ensures businesses always have the most accurate and actionable customer insights at their fingertips.”

    Melissa Alert Service allows businesses to upload customer records, such as addresses and property data, into Melissa Vault, a secure cloud-based system. The Melissa Alert Service system continuously monitors these records against Melissa’s current data updates and automatically sends alerts when changes are detected. Whether it’s a change of address, updated property details, such as ownership transfers, the service empowers businesses to act on accurate data immediately.

    Key Features and Benefits of the Melissa Alert Service:

    • Live Notifications: Automatically alerts users to changes in their customer or property records, ensuring up-to-date and reliable data
    • Comprehensive Monitoring: Tracks an array of daily, weekly, monthly data updates, including National Change of Address (NCOA), property ownership, and address corrections
    • Scalable Solutions: Designed for businesses of all sizes, with flexible subscription tiers supporting up to one million records
    • Ease of Use: Offers seamless data uploads via FTP or API, enabling integration with CRM tools like HubSpot and other marketing platforms
    • Future-Proofing: Provides businesses with a scalable platform for ongoing data monitoring and future alert capabilities, including weather events, vacancies, and deceased monitoring

    “Whether you’re a marketing team managing campaigns or an insurance company monitoring properties, Melissa Alert Service provides unmatched convenience and accuracy,” said Phil Maitino, Chief Technology Officer at Melissa. “The service is flexible to accommodate user-scheduled jobs and data attributes required by your particular business—empowering businesses to focus on growth and customer satisfaction based on their specific needs.”

    Melissa is offering subscription-based pricing tailored to business needs, starting at just $95 annually for up to 10,000 records. Higher tiers accommodate businesses managing up to one million records, ensuring scalability for organizations of all sizes.
    For more information, access the Melissa Alert Service page, visit www.Melissa.com, or contact sales@Melissa.com.

    About Melissa
    Since 1985, Melissa has specialized in global intelligence solutions to help organizations unlock accurate data for a more compelling customer view. More than 10,000 clients worldwide in arenas such as retail, education, healthcare, insurance, finance, and government rely on Melissa for full spectrum data quality and ID verification software, including data matching, validation, and enhancement services to gain critical insight and drive meaningful customer relationships. For more information or free product trials, visit www.Melissa.com or call 1-800-MELISSA (635-4772).

    Media contacts
    Greg Brown
    Vice President, Global Marketing, Melissa
    greg.brown@Melissa.com
    +1-800-635-4772 x1130

    MPoweredPR for Melissa
    pr@mpoweredpr.com
    +1-877-794-6777

    The MIL Network –

  • MIL-OSI: Morris State Bancshares Announces Solid Earnings in 2024, Declares Special Dividend, and Increases Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, Ga., Feb. 04, 2025 (GLOBE NEWSWIRE) — Morris State Bancshares, Inc. (OTCQX: MBLU) (the “Company”), the parent of Morris Bank (the “Bank”), today reported its financial results for the quarter and year ended December 31, 2024. Year over year and quarter by quarter comparisons are included herewith.

    On January 29, 2025, the Company’s Board of Directors announced a 30.43% increase in its quarterly cash dividend, raising it to $0.12 per common share—an increase of $0.028 per share over the quarterly dividend of $0.092 paid in each of the prior quarters last year1. This dividend will be payable on or about March 14, 2025, to all shareholders of record as of February 15, 2025. In addition to this increase, the Board also approved a one-time special dividend of $0.15 per common share. This special dividend will be payable on or about March 21, 2025, to all shareholders of record as of February 15, 2025.

    “We are extremely pleased with the Company’s strong financial performance in 2024, achieving net earnings of $21.8 million. As the Federal Reserve pivoted during the year and decreased interest rates for the first time since March of 2020, our team effectively managed our net interest margin, closing the year at 4.06%—an increase of 8 basis points from the prior year end,” said Spence Mullis, Chairman and CEO. “At the bank level, we achieved a 1.68% return on average assets and a 12.74% return on average equity, closing the year with a leverage ratio of 12.84%, placing us in the top 10% of our FDIC peer group* in terms of capital strength. As mentioned in our third-quarter earnings release, given our strong capital position at both the bank and holding company and solid cash position at the holding company, we have the ability and plan to retire the remaining $15.0 million in subordinated debt when the window for retirement opens in July 2025. With our robust capital levels and strong earnings performance, we are well-positioned to capitalize on strategic opportunities and drive continued organic growth within our existing footprint while continuing to grow value for our shareholders through earnings and dividends.”

    Following is a summary of the quarterly and annual highlights:

    Fourth Quarter 2024 Highlights

    • Net income for the fourth quarter of 2024 was $6.1 million, compared to $5.4 million for the third quarter of 2024 and $5.9 million for the fourth quarter of 2023.
    • Diluted earnings per share for the fourth quarter of 2024 was $0.52, compared to $0.51 for the third quarter of 2024 and $0.56 for the fourth quarter of 2023.
    • Earnings before taxes for the fourth quarter of 2024 was $6.6 million, compared to $5.7 million for the third quarter of 2024 and $5.5 million for the fourth quarter of 2023.
    • Net loans in the fourth quarter of 2024 totaled $1.10 billion, versus $1.05 billion in the third quarter of 2024 and $1.06 billion at year end 2023.
    • Average cost of funds for the fourth quarter of 2024 was 206 basis points, compared to 218 basis points for the third quarter of 2024 and 192 basis points for the fourth quarter of 2023.
    • Return on average assets (annualized) at the bank level for the fourth quarter of 2024 was 1.79%, compared to 1.65% for the third quarter of 2024 and 1.84% for the fourth quarter of 2023.

    Full Year 2024 Highlights

    • Total assets remained level at $1.49 billion at December 31, 2024, compared to $1.44 billion at December 31, 2023.
    • Earnings before income taxes totaled $23.0 million at December 31, 2024 compared to $21.5 million at December 31, 2023.
    • Full year net income of $21.8 million in 2024, compared to $19.3 million in 2023.
    • Return on average assets at the bank level of 1.68% for the full year 2024, compared to 1.55% for 2023.
    • Diluted earnings per share of $2.72 in 2024, compared to $1.83 in 2023.
    • Total shareholders’ equity increased 9.81% or $17.5 million to $195.6 million at December 31, 2024, compared to $178.1 million at December 31, 2023.
    • Tangible book value per share of $17.45 at December 31, 2024, compared to $15.79 at December 31, 2023.
    • Net loans grew $52.1 million, or 4.96%, during 2024.
    • The Bank’s asset quality remains solid, ending the year with nonperforming assets to total loans and other real estate of 0.41%, past due and nonaccrual loans of 0.72% and net charge offs to average loans of 0.04% for 2024.
    • Bank-level efficiency ratio net of tax credit amortization expense was 53.30% in 2024, compared to 52.99% in 2023.

    *as defined in the FDIC’s Uniform Bank Performance Report

     Forward-looking Statements

    Certain statements contained in this release may not be based on historical facts and are forward-looking statements. These forward-looking statements may be identified by their reference to a future period or periods or by the use of forward-looking terminology such as “anticipate,” “believe,” “estimate,” “expect,” “may,” “might,” “plan,” “will,” “would,” “could” or “intend.” We caution you not to place undue reliance on the forward-looking statements contained in this news release, in that actual results could differ materially from those indicated in such forward-looking statements as a result of a variety of factors, including, among others, the business and economic conditions; risks related to the integration of acquired businesses and any future acquisitions; changes in management personnel; interest rate risk; ability to execute on planned expansion and organic growth; credit risk and concentrations associated with the Company’s loan portfolio; asset quality and loan charge-offs; inaccuracy of the assumptions and estimates management of the Company makes in establishing reserves for probable loan losses and other estimates; lack of liquidity; impairment of investment securities, goodwill or other intangible assets; the Company’s risk management strategies; increased competition; system failures or failures to prevent breaches of our network security; changes in federal tax law or policy; the impact of recent and future legislative and regulatory changes; and increases in capital requirements. We undertake no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date of this news release. 

    1 Per share amounts for March 31, 2024 and previous quarters have been adjusted to reflect the April 22, 2024 4-for-1 stock dividend.

    MORRIS STATE BANCSHARES, INC.
    AND SUBSIDIARIES
                             
    Consolidated Balance Sheets
    December 31, 2024 and 2023
                             
                             
              December 31,   December 31,          
                2024       2023     Change   % Change  
              (Unaudited)   (Unaudited)          
      ASSETS                      
                             
      Cash and due from banks       $ 53,898,138     $ 51,060,389     $ 2,837,749     5.56 %  
      Federal funds sold         42,064,131       17,268,446       24,795,685     143.59 %  
      Total cash and cash equivalents         95,962,269       68,328,835       27,633,434     40.44 %  
                             
      Interest-bearing time deposits in other banks         100,000       100,000       —     0.00 %  
      Securities available for sale, at fair value         9,726,716       7,875,780       1,850,936     0.00 %  
      Securities held to maturity, at cost         215,836,502       240,205,635       (24,369,133 )   -10.15 %  
      Federal Home Loan Bank stock, restricted, at cost         1,032,800       1,029,600       3,200     0.31 %  
                             
      Loans, net of unearned income         1,116,074,659       1,063,772,222       52,302,437     4.92 %  
      Less-allowance for loan losses         (14,488,525 )     (14,291,923 )     (196,602 )   1.38 %  
      Loans, net         1,101,586,134       1,049,480,299       52,105,835     4.96 %  
                             
      Bank premises and equipment, net         12,780,014       13,188,353       (408,339 )   -3.10 %  
      ROU assets for operating lease, net         776,979       1,126,156       (349,177 )   -31.01 %  
      Goodwill         9,361,704       9,361,704       —     0.00 %  
      Intangible assets, net         1,338,964       1,679,989       (341,025 )   -20.30 %  
      Other real estate and foreclosed assets         21,898       3,611,235       (3,589,337 )   -99.39 %  
      Accrued interest receivable         7,278,258       6,424,090       854,168     13.30 %  
      Cash surrender value of life insurance         15,128,762       14,711,623       417,139     2.84 %  
      Other assets         22,674,658       25,321,092       (2,646,434 )   -10.45 %  
      Total Assets       $ 1,493,605,658     $ 1,442,444,391     $ 51,161,267     3.55 %  
                             
                             
      LIABILITIES AND SHAREHOLDERS’ EQUITY                      
                             
      Deposits:                      
      Non-interest bearing       $ 325,534,335     $ 316,224,444     $ 9,309,891     2.94 %  
      Interest bearing         939,354,005       909,976,336       29,377,669     3.23 %  
                1,264,888,340       1,226,200,780       38,687,560     3.16 %  
                             
      Other borrowed funds         19,019,372       27,151,283       (8,131,911 )   -29.95 %  
      Lease liability for operating lease         776,979       1,126,156       (349,177 )   -31.01 %  
      Accrued interest payable         2,111,093       1,059,226       1,051,867     99.31 %  
      Accrued expenses and other liabilities         11,206,717       8,773,430       2,433,287     27.73 %  
                             
      Total liabilities         1,298,002,501       1,264,310,875       33,691,626     2.66 %  
                             
      Shareholders’ Equity:                      
      Common stock         10,688,723       10,645,508       43,215     0.41 %  
      Paid in capital surplus         34,936,059       33,711,561       1,224,498     3.63 %  
      Retained earnings         130,111,050       115,232,196       14,878,854     12.91 %  
      Current year earnings         21,804,345       19,332,489       2,471,856     12.79 %  
      Accumulated other comprehensive income (loss)         1,422,709       1,968,846       (546,137 )   -27.74 %  
      Treasury Stock, at cost 95,498 shares         (3,359,729 )     (2,757,084 )     (602,645 )   21.86 %  
      Total shareholders’ equity         195,603,157       178,133,516       17,469,641     9.81 %  
                             
      Total Liabilities and Shareholders’ Equity       $ 1,493,605,658     $ 1,442,444,391       51,161,267     3.55 %  
                             
    MORRIS STATE BANCSHARES, INC.
    AND SUBSIDIARIES
                         
    Consolidated Statements of Income
    For the Years Ended December 31, 2024 and 2023
                         
                         
          December 31,   December 31,        
            2024       2023     Change   % Change  
          (Unaudited)   (Unaudited)          
      Interest and Dividend Income:                  
      Interest and fees on loans   $ 72,453,630     $ 62,157,217     $ 10,296,413     16.57 %  
      Interest income on securities     7,368,157       8,196,152       (827,995 )   -10.10 %  
      Income on federal funds sold     851,717       627,235       224,482     35.79 %  
      Income on time deposits held in other banks     1,699,224       1,214,072       485,152     39.96 %  
      Other interest and dividend income     183,239       255,689       (72,450 )   -28.34 %  
      Total interest and dividend income     82,555,967       72,450,365       10,105,602     13.95 %  
                         
      Interest Expense:                  
      Deposits     25,981,731       18,599,664       7,382,067     39.69 %  
      Interest on other borrowed funds     1,548,980       2,148,019       (599,039 )   -27.89 %  
      Interest on federal funds purchased     296       842       (546 )   -64.85 %  
      Total interest expense     27,531,007       20,748,525       6,782,482     32.69 %  
                         
      Net interest income before provision for loan losses     55,024,960       51,701,840       3,323,120     6.43 %  
      Less-provision for loan losses     556,913       450,475       106,438     23.63 %  
      Net interest income after provision for loan losses     54,468,047       51,251,365       3,216,682     6.28 %  
                         
      Noninterest Income:                  
      Service charges on deposit accounts     2,164,988       2,143,550       21,438     1.00 %  
      Other service charges, commissions and fees     1,553,493       1,589,747       (36,254 )   -2.28 %  
      Gain on sales of foreclosed assets     —       —       —     0.00 %  
      Gain on sales and calls of securities     182       —       182     0.00 %  
      Gain on sale of loans     —       —       —     —    
      Increase in CSV of life insurance     417,139       378,079       39,060     10.33 %  
      Other income     644,868       606,754       38,114     6.28 %  
      Total noninterest income     4,780,670       4,718,130       62,540     1.33 %  
                         
      Noninterest Expense:                  
      Salaries and employee benefits     19,050,416       17,414,685       1,635,731     9.39 %  
      Occupancy and equipment expenses, net     2,223,832       2,250,663       (26,831 )   -1.19 %  
      (Gain) Loss on sales of foreclosed assets and other real estate     9,681       321,783       (312,102 )   0.00 %  
      Loss on sales of premises and equipment     —       54,269       (54,269 )   -100.00 %  
      Tax credit amortization expense     2,920,825       2,733,248       187,577     6.86 %  
      Other expenses     12,040,179       11,713,425       326,754     2.79 %  
      Total noninterest expense     36,244,933       34,488,073       1,756,860     5.09 %  
                         
      Income Before Income Taxes     23,003,784       21,481,422       1,522,362     7.09 %  
      Provision for income taxes     1,199,439       2,148,933       (949,494 )   -44.18 %  
                         
      Net Income   $ 21,804,345     $ 19,332,489       2,471,856     12.79 %  
                         
                         
      Earnings per common share:                  
      Basic   $ 2.72     $ 1.83       0.89     48.63 %  
      Diluted   $ 2.72     $ 1.83       0.89     48.63 %  
                         
                         
      Per share amounts for December 31, 2023 has been adjusted to reflect the April 22, 2024 4-for-1 stock dividend.
       
    MORRIS STATE BANCSHARES, INC.
    AND SUBSIDIARIES
                                         
    Selected Financial Information
                                         
                                         
              Year Ending   Quarter Ended
              December 31, December 31,     December 31,   September 30,   June 30,   March 31,   December 31,
                2024     2023         2024         2024       2024       2024       2023  
      (Dollars in thousand, except per share data)       (Unaudited) (Unaudited)     (Unaudited)     (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
                                         
      Per Share Data                                  
      Basic Earnings per Common Share       $ 2.72   $ 1.83       $ 0.52       $ 0.51     $ 0.50     $ 0.46     $ 0.56  
      Diluted Earnings per Common Share         2.72     1.83         0.52         0.51       0.50       0.46       0.56  
      Dividends per Common Share         0.368     0.352         0.092         0.092       0.092       0.092       0.088  
      Book Value per Common Share         18.46     16.84         18.46         17.99       17.56       17.20       16.84  
      Tangible Book Value per Common Share         17.45     15.79         17.45         16.97       16.53       16.17       15.79  
                                         
                                         
      Average Diluted Shares Outstanding         10,603,218     10,582,377         10,596,432         10,602,348       10,611,811       10,582,377       10,582,820  
      End of Period Common Shares Outstanding         10,593,225     10,582,219         10,593,225         10,596,345       10,605,080       10,582,218       10,581,052  
                                         
      Selected Balance Sheet Data (Bank Only)                                  
      Net Loans       $ 1,101,586   $ 1,049,480       $ 1,101,586       $ 1,048,418     $ 1,023,367     $ 1,040,412     $ 1,063,772  
      Non-Interest Bearing Deposits         347,929     315,953         347,929         336,698       339,177       346,232       339,785  
      Interest Bearing Demand Deposits         260,371     286,112         260,371         249,649       243,744       260,624       270,473  
      Savings & Money Market Deposits         402,641     393,139         402,641         401,234       422,048       441,911       444,170  
      Time Deposits         276,898     231,692         276,898         211,590       193,110       175,534       161,933  
                                         
      Earnings Summary                                  
      Net Interest Income         55,025     51,701         14,496         13,998       13,569       12,963       12,934  
      Provision for Credit Losses         557     450         28         252       272       5       242  
      Non-Interest Income         4,781     4,718         1,076         1,106       1,392       1,208       1,098  
      Non-Interest Expense         36,245     34,488         8,934         9,142       9,047       9,123       8,275  
      Earnings before Taxes         23,004     21,481         6,610         5,710       5,641       5,043       5,515  
      Income Taxes         1,199     2,149         465         263       319       152       (416 )
      Net Income         21,804     19,332         6,144         5,447       5,322       4,891       5,931  
                                         
      Annualized Performance Ratios (Bank Only)                                  
      Return on Average Assets         1.68 %   1.55 %       1.79 %       1.65 %     1.73 %     1.55 %     1.84 %
      Return on Average Equity         12.74 %   12.25 %       13.69 %       12.37 %     13.12 %     11.74 %     14.11 %
      Equity/Assets         12.84 %   13.07 %       12.84 %       13.23 %     13.18 %     13.09 %     13.07 %
      Cost of Funds         2.12 %   1.57 %       2.06 %       2.18 %     2.16 %     2.09 %     1.92 %
      Net Interest Margin         4.06 %   3.98 %       4.17 %       4.10 %     4.02 %     3.95 %     3.97 %
      Efficiency Ratio         58.27 %   57.51 %       54.21 %       58.90 %     58.36 %     61.92 %     55.17 %
      Efficiency Ratio Net of Tax Credit Amortization Expense   53.30 %   52.99 %       49.45 %       53.96 %     53.40 %     56.68 %     50.90 %
      Nonperforming Assets to Total Loans and Other Real Estate   0.41 %   0.58 %       0.41 %       0.46 %     0.39 %     0.28 %     0.58 %
      Past Due and Nonaccural Loans Ratio         0.72 %   0.65 %       0.72 %       1.01 %     0.68 %     0.73 %     0.65 %
      Net Chargeoffs to Average Loans         0.04 %   0.01 %       0.01 %       0.03 %     0.02 %     0.00 %     0.33 %
                                         
                                         
      Shares outstanding and per share amounts for March 31, 2024 and prior quarters have been adjusted to reflect the April 22, 2024 4-for-1 stock dividend.
                                         

    The MIL Network –

  • MIL-OSI: D. Boral Capital Announces Approval as a Nasdaq Member

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 04, 2025 (GLOBE NEWSWIRE) — D. Boral Capital, a premier Global Investment Bank focused on high-quality mid-market and growth issuers announces its approval as a Limited Underwriting Member of the Nasdaq Stock Market, one of the largest and most active securities exchanges in the world. As of February 3, 2025, D. Boral Capital was officially accepted, and this approval enables it to act as a principal lead underwriter under Nasdaq Listing Rule 5210(m).

    D. Boral Capital’s membership in Nasdaq represents a significant milestone in the firm’s growth and evolution. As a lead underwriter for IPOs, this achievement enhances our ability to execute high-profile investment banking transactions and solidifies its position for continued growth and influence within the financial services sector.

    David W. Boral, Founder & CEO, states: “D. Boral Capital’s joining Nasdaq marks a significant milestone for the firm, highlighting steadfast dedication to providing outstanding services to our clients. This achievement grants us access to a platform renowned for its innovation, efficiency, and global presence—principles that deliver unmatched insight and value to both our client issuers and investors.”

    D. Boral Capital’s Nasdaq membership follows a period of significant growth, further reinforcing the firm’s dedication to ongoing innovation and excellence. D. Boral Capital looks forward to leveraging this membership to expand our capabilities and provide even greater value for our clients.

    About D. Boral Capital
    D. Boral Capital is a premier, relationship-driven global investment bank headquartered in New York. The firm is dedicated to delivering exceptional strategic advisory and tailored financial solutions to middle-market and emerging growth companies. With a proven track record, D. Boral Capital provides expert guidance to clients across diverse sectors worldwide, leveraging access to capital from key markets, including the United States, Asia, Europe, the UAE, and Latin America.

    A recognized leader on Wall Street, D. Boral Capital has successfully aggregated over $23 billion in capital since its inception in 2020, executing approximately 300 transactions across a broad range of investment banking products.

    Safe Harbor Statement
    This press release contains certain “forward-looking statements.” These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the parties’ perspectives and expectations, are forward-looking statements. The words “will,” “expect,” “believe,” “estimate,” “intend,” and “plan” and similar expressions indicate forward-looking statements.

    Such forward-looking statements are inherently uncertain, and shareholders and other potential investors must recognize that actual results may differ materially from the expectations as a result of a variety of factors. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties, and other factors, many of which are hard to predict or control, that may cause the actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. The forward-looking information provided herein represents the Company’s estimates as of the date of this press release, and subsequent events and developments may cause the Company’s estimates to change.

    The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.

    A further list and description of risks and uncertainties can be found in the documents the Company has filed or furnished or may file or furnish with the U.S. Securities and Exchange Commission, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

    Contact Us:
    D. Boral Capital
    590 Madison Avenue
    New York, NY 10022
    Main Phone: +1 (212) 970-5150
    www.dboralcapital.com
    info@dboralcapital.com

    The MIL Network –

  • MIL-OSI: 2025 Best of Legal™ Award Winners Achieve Superior Ratings for Client and Employee Experience

    Source: GlobeNewswire (MIL-OSI)

    PORTLAND, Ore., Feb. 04, 2025 (GLOBE NEWSWIRE) — ClearlyRated®, the leading provider of client and employee satisfaction surveys and service quality benchmarking for law firms, announced the winners of their inaugural Best of Legal™ award today on ClearlyRated.com.

    “The remarkable achievements of our 2025 Best of Legal winners deserve the highest recognition,” said ClearlyRated CEO, Baker Nanduru. “These industry leaders have proven through independently verified service ratings that excellence isn’t just a goal—it’s their standard operating procedure. As we celebrate this year’s honorees, we’re inspired by their commitment to consistently delivering exceptional experiences that shape the future of the legal industry.”

    The 2025 Best of Legal award program recognizes client and employee satisfaction leaders in the legal industry. Participating firms use the Net Promoter® Score (NPS®) methodology to collect feedback and measure satisfaction of their clients and/or internal employees. Only firms that earned exceptional satisfaction ratings that outpace industry benchmarks for service qualified for the 2025 Best of Legal award.

    According to ClearlyRated’s latest survey data, 2025 Best of Legal winners have a Net Promoter® Score 90% higher than the industry average. Fewer than 1% of all law firms in the U.S. and Canada achieve Best of Legal for client or employee satisfaction.

    About ClearlyRated
    ClearlyRated is a leading provider of client satisfaction surveys and service quality research for law firms and other professional service providers. We help firms leverage the Net Promoter® Score survey methodology to gain deep insights, identify strengths and weaknesses, fuel data-driven action, build reputation and future-proof their organizations with third-party validation.

    About Best of Legal
    ClearlyRated’s Best of Legal Award is the only award in the U.S. and Canada that recognizes law firms that have proven superior service quality based entirely on ratings provided by their clients. Award winners are showcased by city and area of expertise on ClearlyRated.com—an online business directory that helps buyers of professional services find service leaders and vet prospective firms with the help of validated client ratings and testimonials.

    Net promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, and Fred Reichheld.

    Contact
    Stephen Banbury, VP of Marketing
    P (503) 977-6295
    stephen.banbury@clearlyrated.com

    The MIL Network –

  • MIL-OSI: Duck Creek Technologies Launches End-to-End Payments Marketplace and New Integration with Paymentus

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, Feb. 04, 2025 (GLOBE NEWSWIRE) — Duck Creek Technologies, the global intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, announces the launch of its Payments Marketplace, a comprehensive payments ecosystem purpose-built for the global insurance industry. The Duck Creek Payments Marketplace offers seamless integration with trusted payment providers and delivers end-to-end payment management for carriers. Duck Creek announced a significant partnership with Paymentus, (NYSE: PAY), a leading provider of digital payment solutions to our marketplace for ease of integration. This partnership brings billions in payment volume to the Payments Marketplace. Together, Duck Creek and Paymentus will serve several global Top 10 insurance carriers as well as large regional insurers as customers. 

    Leveraging the Duck Creek Payments Orchestrator, the Payments Marketplace accelerates payment integration timelines to as little as one to two weeks—a significant improvement over the nine to 18 months typically required for direct integrations. Notably, the integration process leverages Duck Creek Payments Orchestrator, offering carriers rapid connectivity without requiring years of orchestration readiness. Duck Creek Payments Orchestrator connects insurers to global payment technologies and providers, supporting both collections and payouts, regardless of existing IT infrastructure.

    “Duck Creek continues to innovate with the launch of our Payments Marketplace, which represents a major leap forward in insurance technology and delivers security-focused, seamless payment processing for carriers and their customers,” said Allan Lacoste, Chief Payments Officer at Duck Creek Technologies. “Through strategic partnerships with industry leaders like Paymentus, we’re building a robust ecosystem that empowers carriers with both payment flexibility and reliability.”

    Carriers benefit from continuous updates, robust redundancy, and enhanced customer experiences. Payments Marketplace prioritizes best practices, certifications, and a thorough vetting process for all partners. This includes adherence to rigorous security standards and seamless compatibility with Duck Creek’s SaaS core systems.

    “Through our partnership with Duck Creek, we can deliver our best-in-class electronic billing and payment solutions to a larger, more global customer base,” said Jerry Portocalis, Chief Commercial Officer of Paymentus Holdings, Inc. “Together, we’ll realize our common goal to simplify payments for carriers and help them deliver the best customer experiences for their customers.”

    About Duck Creek Technologies  
    Duck Creek Technologies is the global intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and X.   

    Media Contacts:  
    Marianne Dempsey/Tara Stred  
    duckcreek@threeringsinc.com  

    The MIL Network –

  • MIL-OSI: REC Solar Appoints Colin Temme to General Counsel

    Source: GlobeNewswire (MIL-OSI)

    SAN LUIS OBISPO, Calif., Feb. 04, 2025 (GLOBE NEWSWIRE) — REC Solar, a leading nationwide developer of on-site solar and storage projects, has hired Colin Temme as General Counsel. Temme brings over a decade of experience in renewable energy, sustainable infrastructure and project finance and will provide legal advice and guidance to the Company as it grows its footprint and customer base across the U.S.

    Temme joins REC Solar from Generate Capital, where he served as Associate General Counsel, structuring and negotiating mergers, acquisitions and project financing for community solar and fuel cell assets. He also led debt and equity investment strategies supporting sustainable infrastructure development, spanning community and utility-scale solar, microgrids, energy efficiency and fiber networks. Before that, Temme was Assistant General Counsel at The AES Corporation, where he played a key role in structuring and negotiating distributed generation solar and solar-plus-storage projects. He also built and led a legal team dedicated to AES’ distributed generation solar business.

    “Colin is a terrific addition to the REC Solar team and its leadership. His experience in renewable energy and sustainable infrastructure, combined with his proven track record in legal leadership, will be a huge asset as we continue to grow in the solar industry,” said Robb Jetty, CEO of REC Solar. “We’re confident his expertise will help us navigate opportunities and challenges ahead to deliver even more value to our customers.”

    “I am thrilled to join the REC Solar team to help grow the business and shape its future,” said Colin Temme, General Counsel. “From my first interactions with REC Solar, I was drawn to the company’s strategy, direction and culture. The leadership team’s vision aligns with my professional experience, and I am excited to contribute from day one while embracing new challenges in this role.”

    This appointment is pivotal for REC Solar as it grows its business in tandem with the U.S. solar market and navigates a new policy environment. With energy demand rising by 2% annually, experts predict that the U.S. solar industry will grow by 34% in 2025 and by 17% in 2026.

    About REC Solar
    Founded in 1997, REC Solar is a trusted leader in solar energy integration, delivering high-quality solar and energy storage solutions to businesses, universities, municipalities and more. REC Solar offers a seamless experience, from zero-upfront-cost financing to long-term ownership, operation and maintenance of solar projects. With decades of expertise, REC Solar is committed to providing every customer the same integrity and high-quality solutions and services that have made it a trusted solar company for the past 25+ years. Learn more about REC Solar at recsolar.com.

    Media inquiries:
    recsolar@fischtankpr.com

    The MIL Network –

  • MIL-OSI: authID’s Biometric Identity Platform Selected by Salus to Secure Its Financial Services Solutions for the Underprivileged

    Source: GlobeNewswire (MIL-OSI)

    Microlending platform Salus will leverage authID’s technology to provide applicants with intuitive and data-secure authentication

    DENVER, Feb. 04, 2025 (GLOBE NEWSWIRE) — authID® (Nasdaq: AUID), a leading provider of biometric identity verification and authentication solutions, today announced it has been chosen by Salus, an inclusive microlending platform servicing underprivileged communities, for onboarding and authentication of applicants while protecting user privacy and maintaining compliance with regulatory requirements.

    “Our goal in choosing authID was to provide the most advanced and seamless user experience for our customers, and the best outcome for our partners,” said James Chemplavil, CEO of Salus. “In order to have that best-in-class experience for the populations we service, we need fast, friendly, accurate verification, and that’s precisely what we get with authID. Their solutions for onboarding and authenticating applicants help our partners build the mutual trust they need with their own members, in order to fulfill our joint mission to bring financial stability to people who have little access to traditional banking.”

    Salus was launched in 2023 to partner with credit unions for providing credit to lower income, thin-file, and typically younger constituents. It provides a digital platform that helps credit unions create financial access and wellness for over 120 million young, under-served adults without prime credit scores. Their technology integrates with existing platforms for automated underwriting and data analysis to complement credit histories, allowing their customers to more confidently make loans to underbanked members.

    “We are thrilled to add Salus to our portfolio of customers whose mission in life is to serve individuals who struggle with traditional banking processes,” said Rhon Daguro, CEO of authID. “We greatly admire the institutions within our customer base who help underprivileged citizens participate more fully in the economy. We also recognize that they need to quickly and accurately onboard as many legitimate applicants as possible, while deflecting any criminals, deepfakes, and frauds who might try to take advantage of their services.”

    In choosing authID for identity verification, Salus examined a variety of vendors in the space and found authID’s solutions for biometric verification and authentication to be best in class for aiding their credit union partners in identifying credit applicants. Previous solutions dependent on probabilistic fraud signals did not provide a guided user experience for satisfactory outcomes, whereas authID brings a deterministic validation of identity in identifying online participants.

    “With our delivery of speed, accuracy, privacy protection, and commitment to compliance, we are the future of identity verification and authentication,” added Daguro. “We are more than pleased to bring that level of performance to our partnership with Salus and help them in their mission to broaden access to financial participation. This is another example of how our clients leverage our technology to securely expand their own customer portfolios.”

    About authID
    authID® (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented, biometric identity platform. authID quickly and accurately verifies a user’s identity and eliminates any assumption of ‘who’ is behind a device to prevent cybercriminals from compromising account openings or taking over accounts. Combining secure digital onboarding, FIDO2 passwordless login, and biometric authentication and account recovery, with a fast, accurate, user-friendly experience, authID delivers biometric identity processing in 700ms. Binding a biometric root of trust for each user to their account, authID stops fraud at onboarding, detects and stops deepfakes, eliminates password risks and costs, and provides the fastest, frictionless, and the more accurate user identity experience demanded by today’s digital ecosystem. Contact us to discover how authID can help your organization secure your workforce or consumer applications against identity fraud, cyberattacks and account takeover.

    About Salus

    Salus is a fintech organization that empowers credit unions with solutions and data services to aid in improving the financial wellbeing of underprivileged and underbanked communities. Their platform enables frictionless integrations with credit unions’ systems to eliminate manual review and the hurdles of credit checks while automating the underwriting process and delivering financial services to individuals who are otherwise unable to access traditional credit.

    Media Contacts

    NextTech Communications
     Walter Fowler
    1-631-334-3864
    wfowler@nexttechcomms.com

    Investor Relations Contacts
    Investor-Relations@authid.ai

    Gateway Group, Inc.
    Cody Slach and Alex Thompson
    1-949-574-3860
    AUID@gateway-grp.com

    The MIL Network –