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  • MIL-OSI Security: Clarenville — Clarenville RCMP investigates theft from Co-op in Clarenville, seeks public’s assistance

    Source: Royal Canadian Mounted Police

    Clarenville RCMP is seeking the public’s assistance in identifying suspects captured on surveillance video in relation to a theft that occurred at a Co-op grocery store on Memorial Drive in Clarenville.

    On October 22, Clarenville RCMP received a report of a theft of an angle saw from the Co-Op store on Memorial Drive. Just before 6:00 p.m., a man and a woman entered the store and departed the store without paying for the angle saw. The suspects departed in a white SUV.

    Please see attached images obtained from video surveillance footage.

    Anyone with any information about this crime, the identity of the suspects, or the vehicle captured on surveillance is asked to contact Clarenville RCMP at 709-466-3211.

    To remain anonymous, contact Crime Stoppers at 1-800-222-TIPS (8477), visit www.nlcrimestoppers.com or use the P3Tips app. #SayItHere

    MIL Security OSI –

  • MIL-OSI Security: San Antonio Couple Sentenced to Federal Prison for Tax Evasion

    Source: Office of United States Attorneys

    SAN ANTONIO – A San Antonio woman was sentenced to 15 months in federal prison for tax evasion and aiding and abetting.

    According to court documents, Rachel Olivia Markum, 41, and her husband, Robert Franklin Markum Jr., 47, prepared and signed a false and fraudulent form 1040 joint tax return for calendar year 2016, which was then submitted to the Internal Revenue Service. The fraudulent tax return reported the couple’s sole income as gross receipts or sales from the business Camping and Fishing Outlet as $3,530,473, while she was aware that the true amount of gross receipts exceeded $4 million.

    Rachel pleaded guilty May 28, 2024, to one count of tax evasion and aiding and abetting. Robert pleaded guilty on April 1, to one count of tax evasion, and was sentenced to 27 months in federal prison on Aug. 28. The husband and wife were also ordered to pay $359,108 in restitution.

    “This sentencing underscores the serious consequences of defrauding the federal government through false tax returns,” said U.S. Attorney Jaime Esparza for the Western District of Texas. “By concealing hundreds of thousands of dollars from the IRS, this married couple betrayed the integrity of our tax system. We will continue to protect the financial interests of the United States with our IRS Criminal Investigation partners and hold accountable those who seek personal gain through deceptive, illegal means.”

    “Robert and Rachel Markum created false identities and businesses to hide their income from the IRS, but they failed to realize that money always leaves a trail. Their years in prison will give them an opportunity to reflect on their actions,” said Acting Special Agent in Charge Lucy Tan for IRS Criminal Investigation’s Houston Field Office. “Prosecuting federal tax crimes remains a priority in Texas, and our strong partnership with the U.S. Attorney’s Office for the Western District of Texas underscores our commitment to holding tax criminals accountable.”

    IRS-CI investigated the case. Assistant U.S. Attorney Justin Chung prosecuted the case.

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    MIL Security OSI –

  • MIL-OSI Security: “Bearded Bandit” Bank Robber Admits Striking the Same Rhode Island Bank Again

    Source: Office of United States Attorneys

    PROVIDENCE, RI – A Cranston man, previously convicted in federal court and incarcerated for more than six years for robbing nine banks in 2012, admitted to a federal judge on Wednesday that he participated in the robbery of an East Providence bank on New Year’s Eve in December 2019, a bank he had previously robbed during his 2012 spree, announced United States Attorney Zachary A. Cunha.

    Justin Worley, 44, known previously as the “Bearded Bandit,” admitted that he entered the bank late in the afternoon of December 31, 2019 with another person, and that they each approached a teller and demanded that they empty their money drawers. The second man, later identified as Nicholas Lage, 38, brandished a knife during the robbery. Between them, the two men fled the bank with approximately $12,000. They were spotted and arrested later in the evening at Twin River casino.

    Worley pleaded guilty on Wednesday to charges of conspiracy to commit bank robbery and bank robbery. He is scheduled to be sentenced on January 30, 2025. The defendant’s sentences will be determined by a federal district judge after consideration of the U.S. Sentencing Guidelines and other statutory factors.

    Nicholas Lage pleaded guilty on April 1, 2021, to charges of conspiracy to commit bank robbery and bank robbery.  He was sentenced on August 6, 2021, to 36 months of incarceration to be followed by three years of federal supervised release.

    The case is being prosecuted by Assistant United States Attorney Ronald R. Gendron.

    The matter was investigated by East Providence Police Department and the FBI.

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    MIL Security OSI –

  • MIL-OSI Security: Nine Men Arrested in Maine and Massachusetts for Fentanyl, Methamphetamine and Cocaine Trafficking

    Source: Office of United States Attorneys

    BOSTON – Nine men have been arrested for fentanyl, methamphetamine and cocaine trafficking.

    Ernesto Arberty Mendez Herrera, 43, of Roxbury; Ricky Junior Rodriguez Reynoso, 24, of Boston; Cristofel Baez Guerrero, 25, of Dorchester; Luis Castillo, 24, of Dorchester; Yomerli Mendez Arias, 22, of Lawrence; Estarling Perez Almonte, 28, of Roslindale; Raidyn Hernandez Montero, 24, of Dorchester; Ricardo Canela Soto, 20, of Dorchester; and Waldo Lara Arias, 19, of Boston are charged with conspiracy to distribute and to possess with intent to distribute controlled substances, including fentanyl, methamphetamine and cocaine. All nine defendants made their initial appearances in federal court in Boston and Bangor, Maine on Oct. 29, 2024.

    According to the charging documents, the defendants were part of a drug trafficking operation that regularly transported fentanyl, methamphetamine and cocaine from areas in Boston, Lawrence and Malden, Mass. to locations in Waldo County, Maine. It is alleged that the defendants distributed the narcotics in Maine and then return to Massachusetts with the narcotics proceeds. During the course of the investigation, approximately 10 kilograms of fentanyl and multiple firearms were seized.

    The charge of conspiracy to distribute and to possess with intent to distribute controlled substances provides for a sentence of up to 20 years in prison, at least three years and up to life of supervised release and a fine of up to $1 million. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

    Acting United States Attorney Joshua S. Levy and Stephen Belleau, Acting Special Agent in Charge of the Drug Enforcement Administration, New England Field Division made the announcement today. Valuable assistance was provided by the New Hampshire State Police, Maine State Police; Maine Drug Enforcement Agency; Waldo, Maine County Sherriff’s Office; Boston Police Department; Federal Bureau of Investigation, Boston Field Office; Bureau of Alcohol, Tobacco, Firearms, and Explosives; and the U.S. Attorney’s Office for the District of Maine. Assistant U.S. Attorney Stephen Hassink of the Narcotics and Money Laundering Unit is prosecuting the case.

    This effort is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

    The details contained in the charging documents are allegations. The defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
     

    MIL Security OSI –

  • MIL-OSI Security: U.S. Marshals Add RI Man Wanted for Child’s Murder to “15 Most Wanted” List

    Source: US Marshals Service

    Washington, DC – A man wanted in Rhode Island on charges of murder, inflicting serious bodily injury to a child and unlawful flight to avoid prosecution has been added to the U.S. Marshals Service 15 Most Wanted fugitives list with an up to $25,000 reward being offered for information leading to his arrest. 

    Olalekan Abimbola Olawusi, 48, was charged in Providence with first-degree murder and two counts of inflicting serious bodily injury to a child after Providence Police and Fire personnel found his 3-month-old son bleeding from the mouth and nose at a residence April 3, 2017.

    The child was transported to the hospital in cardiac arrest and needed to be resuscitated to regain a pulse.  An examination at the hospital noted 18 injuries at various stages of healing, indicating a pattern of long-term abuse. These injuries included a skull fracture, subdural hematoma, significant brain injury, and fractures of the child’s ribs, clavicle, legs and arms.  He was placed on life support but died six months later.

    Providence police arrested and charged Olawusi April 20, 2017, with first-degree child abuse.  He was released the same day and subsequently fled.  The murder charge was added following the infant’s death Oct. 31, 2017.

    In November 2017, the Providence Police Department and the Rhode Island Attorney General’s Office requested the assistance of the U.S. Marshals Service (USMS) to locate Olawusi. Subsequent investigation revealed that Olawusi had flown out of John F. Kennedy International Airport in New York on June 20, 2017, using his Nigerian passport. Investigators believe Olawusi may be receiving assistance from family members in Nigeria and that he could be a danger to other children.

    “Mr. Olawusi is wanted for the abuse and murder of an innocent child, and has fled the country to avoid justice,” said Director Ronald L. Davis of the U.S. Marshals Service. “We have placed Mr. Olawusi on our 15 Most Wanted list due to the heinous crimes he’s committed and the threat he continues to pose to the public. The USMS will exhaust all resources necessary to bring him to justice for his family and the community.”

    Olawusi, who uses the alias Olekun Olawusi, stands 5 feet 8 inches tall and weighs approximately 185 pounds. He has black hair and brown eyes. 

    Information regarding his whereabouts may be reported to the U.S. Marshals at 1-877-WANTED2 (926-8332) or via the USMS Tips App. 

    Created in 1983, the USMS 15 Most Wanted (15MW) fugitive program draws attention to some of the country’s most dangerous and high-profile fugitives. These fugitives tend to be career criminals with histories of violence who pose a significant threat to public safety. Generally, 15MW fugitives are considered the “worst of the worst” and can include murderers, sex offenders, major drug kingpins, organized crime figures and individuals wanted for high-profile financial crimes. Since the program began in 1983, more than 250 15MW fugitive cases have been closed. 

    The USMS has a long history of providing assistance and expertise to other federal, state, and local law enforcement agencies in support of their fugitive investigations. Working with authorities at the federal, state, tribal, and local levels, USMS-led fugitive task forces arrested more than 73,000 fugitives and cleared nearly 86,000 warrants in FY 2023.     

    MIL Security OSI –

  • MIL-OSI Security: Olalekan Abimbola Olawusi

    Source: US Marshals Service

    NOTICE TO LAW ENFORCEMENT: Before arrest, verify warrant through the National Crime Information Center (NCIC). If subject is arrested or whereabouts known, contact the nearest U.S. Marshals Service office, American Embassy/Consulate, call the U.S. Marshals Service Communications Center at 1-800-336-0102, or submit a tip using U.S. Marshals Service Tips.

    For More Information Scan Code Above.

    MIL Security OSI –

  • MIL-OSI Security: United States Files Suit for Unpaid Duties and Penalties for Alleged Failure to Pay Duties on Imported Chinese Bedroom Furniture

    Source: United States Attorneys General 12

    The United States has filed a civil lawsuit against Lawrence Bivona, who was the President of LaJobi Inc., a Delaware corporation that imported Chinese-manufactured children’s bedroom furniture into the United States. The lawsuit alleges that Bivona made false statements to customs officials and, as a result, avoided paying antidumping duties owed on the imported furniture.

    At the time merchandise is entered into the United States, the importer is responsible for providing all information necessary to enable Customs and Border Protection (CBP) to assess the applicable duties owed on the goods, including any antidumping duties applicable to the merchandise. Antidumping duties are trade remedies that help protect domestic industries from unfair trade practices by foreign businesses and countries, such as government subsidies or below market sales.

    The United States’ complaint contends that Bivona caused LaJobi to misrepresent the identity of the manufacturers of the children’s furniture imported from China. In particular, the United States alleges that Bivona falsely represented that the furniture was manufactured by Chinese entities subject to duty rates of approximately 7% or less, and failed to disclose that the furniture was actually manufactured by entities subject to duty rates of 216%.

    “Anti-dumping duties play an important role in countering illegal foreign trade practices and protecting U.S. manufacturers,” said Principal Deputy Assistant Attorney General Brian M. Boynton, head of the Justice Department’s Civil Division. “We will continue to pursue those who seek to gain an unfair advantage by violating our trade laws.”

    “These civil penalties support the seriousness of CBP’s trade mission and protect the U.S. economy, while maintaining fair trade and preserving American jobs from predatory practices,” said Executive Director Susan Thomas of CBP’s Cargo and Conveyance Security, Office of Field Operations. “CBP’s antidumping and countervailing duties enforcement aims to mitigate harm by anti-competitive behavior and supports a level playing field for U.S. companies injured by unfair trade practices.”

    “We take very seriously our role in protecting the U.S. economy from illegal and predatory trade practices,” said Assistant Director Ivan J. Arvelo of Homeland Security Investigations (HSI) Global Trade Investigations. “HSI is committed to working alongside CBP and partners to stop those who engage in fraud to circumvent U.S. trade laws.”

    The complaint seeks the recovery of over $7 million in import duties and over $15 million in civil penalties.

    HSI Newark led the investigation with CBP Trade Regulatory Audit Newark, CBP Associate Chief Counsel New York, CBP Consumer Products and Mass Merchandising (CPMM) Center of Excellence and Expertise. CBP and HSI are the agencies responsible for enforcing U.S. laws related to the importation of merchandise into the United States, including the collection of duties and assessment of penalties.

    Trial Counsel Daniel Hoffman of the Civil Division’s Commercial Litigation Branch, National Courts Section, is handling the case.

    The case is filed in the Court of International Trade and captioned United States v. Lawrence Bivona No. 24-00196.

    To combat trade fraud, including avoidance of import duties, the Justice Department created a Trade Fraud Task Force. The Task Force partners with CBP and other law enforcement agencies to ensure compliance with U.S. trade laws.

    The claims in the complaint are allegations only. There has been no determination of liability. 

    MIL Security OSI –

  • MIL-OSI: Glen Burnie Bancorp Announces Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    GLEN BURNIE, Md., Oct. 31, 2024 (GLOBE NEWSWIRE) — Glen Burnie Bancorp (“Bancorp”) (NASDAQ: GLBZ), the bank holding company for The Bank of Glen Burnie (“Bank”), announced today net income of $129,000, or $0.04 per basic and diluted common share for the three-month period ended September 30, 2024, compared to net income of $551,000, or $0.19 per basic and diluted common share for the three-month period ended September 30, 2023.   Bancorp reported a net loss of $72,000, or $0.02 per basic and diluted common share for the nine-month period ended September 30, 2024, compared to net income of $1.3 million, or $0.44 per basic and diluted common share for the same period in 2023. On September 30, 2024, Bancorp had total assets of $368.4 million. Bancorp is the oldest independent commercial bank in Anne Arundel County.

    “The Company’s positive earnings results for the third quarter 2024 reflect efficient and productive operations, a focus on disciplined loan growth, and balance sheet management. However, our financial performance for the year 2024 is disappointing and represents the challenges inherent in navigating the interest rate environment of the last several years. The Company is focused on generating additional interest earning assets at higher current market and rebuilding our base of core, low-cost deposits,” said Mark C. Hanna, President, and Chief Executive Officer. “Despite the challenges of declining net interest income, the Company’s financial strength is reflected in a strong capital position, available liquidity and prudent expense management. Although interest expense increased significantly in year over year comparisons, prompt adjustments to rates on loans contributed to expanded interest income and higher yields on earning assets that partially offset higher interest expense and helped mitigate margin compression.”

    In closing, Mr. Hanna added, “To invest in strategic opportunities that will benefit the long-term performance of the Bank, the difficult decision was made to change the longstanding practice of approving quarterly cash dividends for shareholders. As the Bank evaluates our next 75 years, we are committed to our business model and the economic strength of the communities we serve. To better serve the evolving needs of our clients, there is a need to reinvest in our people, technology, products and facilities. Based on our capital levels, conservative underwriting policies, on-and off-balance sheet liquidity, strong loan diversification, and current economic conditions within the markets we serve, management expects to navigate the uncertainties and remain well-capitalized. We will continue to execute on our strategic priorities to generate organic loan and deposit growth.”

    Highlights for the First Nine Months of 2024

    Despite growth in loans and deposits in the first nine months of the year, net interest income decreased $1.1 million, or 11.54% to $8.2 million through September 30, 2024, as compared to $9.2 million during the same period of 2023. The decrease resulted primarily from a $2.4 million increase in interest expense. The increase in interest on deposits was driven by the higher cost of money market deposit balances. The increase in interest on borrowings was driven by a $25.6 million increase in the average balance of borrowed funds due to the elevated level of deposit runoff that occurred in 2023.

    Due to growth of $30.7 million in the loan portfolio and a 0.11% increase in the current expected credit loss (“CECL”) percentage, the Company added $591,000 to its allowance for credit losses on loans in the first nine months of 2024, as compared to a $68,000 release of allowance for credit losses in the first nine months of 2023. While this provision negatively impacted earnings in the first half of the year, the growth in loan balances should generate additional interest revenue in future periods. The Company expects that its strong liquidity and capital positions, along with the Bank’s total regulatory capital to risk weighted assets of 16.72% on September 30, 2024, as compared to 18.10% for the same period of 2023, will provide ample capacity for future growth.

    Return on average assets for the three-month period ended September 30, 2024, was 0.14%, as compared to 0.61% for the three-month period ended September 30, 2023. Return on average equity for the three-month period ended September 30, 2024, was 2.63%, as compared to 12.47% for the three-month period ended September 30, 2023. Lower net income and a higher average asset balance primarily drove the lower return on average assets, while lower net income and a higher average equity balance primarily drove the lower return on average equity.

    The cost of funds increased 0.86% when comparing September 30, 2024, to the same period in 2023, rising from 0.46% to 1.32%. This 0.86% increase was primarily due to the change in the funding mix between lower cost interest-bearing and noninterest-bearing deposit balances and higher cost borrowed funds and money market deposit balances.

    On September 30, 2024, the Bank remained above all “well-capitalized” regulatory requirement levels. The Bank’s tier 1 risk-based capital ratio was approximately 15.47% on September 30, 2024, as compared to 17.37% on December 31, 2023. Liquidity remained strong due to managed cash and cash equivalents, borrowing lines with the FHLB of Atlanta, the Federal Reserve and correspondent banks, and the size and composition of the bond portfolio.

    Balance Sheet Review

    Total assets were $368.4 million on September 30, 2024, an increase of $13.0 million or 3.66%, from $355.4 million on September 30, 2023.   Investment securities decreased by $22.7 million or 15.94% to $120.0 million as of September 30, 2024, compared to $142.7 million for the same period of 2023.   Loans, net of deferred fees and costs, were $207.0 million on September 30, 2024, an increase of $32.2 million or 18.41%, from $174.8 million on September 30, 2023. Cash and cash equivalents increased $7.9 million or 54.68%, from September 30, 2023 to September 30, 2024.

    Total deposits were $314.2 million on September 30, 2024, a decrease of $600,000 or 0.18%, from $314.8 million on September 30, 2023. Despite the year-over-year decline, deposit balances have increased $14.2 million or 4.73% from December 31, 2023. Noninterest-bearing deposits were $115.9 million on September 30, 2024, a decrease of $11.0 million or 8.64%, from $126.9 million on September 30, 2023.   Interest-bearing deposits were $198.3 million on September 30, 2024, an increase of $10.4 million or 5.53%, from $187.9 million on September 30, 2023. Total borrowings were $30.0 million on September 30, 2024, an increase of $5.0 million or 20.00%, from $25.0 million on September 30, 2023.  
    As of September 30, 2024, total stockholders’ equity was $21.2 million (5.74% of total assets), equivalent to a book value of $7.29 per common share. Total stockholders’ equity on September 30, 2023, was $13.2 million (3.70% of total assets), equivalent to a book value of $4.57 per common share.

    Asset quality, which has trended within a narrow range over the past several years, has remained sound as of September 30, 2024. Nonperforming assets, which consist of nonaccrual loans, restructured loans to borrowers with financial difficulty, accruing loans past due 90 days or more, and other real estate owned (“OREO”), represented 0.08% of total assets on September 30, 2024, compared to 0.15% on December 31, 2023, demonstrating positive asset quality trends across the portfolio. The allowance for credit losses on loans was $2.75 million, or 1.33% of total loans, as of September 30, 2024, compared to $2.16 million, or 1.22% of total loans, as of December 31, 2023. The allowance for credit losses for unfunded commitments was $597,000 as of September 30, 2024, compared to $473,000 as of December 31, 2023.

    Review of Financial Results

    For the three-month periods ended September 30, 2024, and 2023

    Net income for the three-month period ended September 30, 2024, was $129,000, as compared to net income of $551,000 for the three-month period ended September 30, 2023. The decrease is primarily the result of a $614,000 increase in interest expense on deposits and a $126,000 increase in interest expense on short-term borrowings, a $287,000 decrease in interest and dividends on securities, a $170,000 increase in the provision for credit losses on loans and a $197,000 increase in noninterest expenses. These decreases were partially offset by an increase of $763,000 in loan interest income and fees, and a $133,000 increase in interest on deposits with banks. The Company’s need to defend its deposit base as well as grow interest-earning asset balances necessitated a strategic change in direction that resulted in the increased interest expense.

    Net interest income for the three-month period ended September 30, 2024, totaled $2.8 million, a decrease of $131,000 from the three-month period ended September 30, 2023. The decrease in net interest income was due to a $740,000 increase in the cost of interest-bearing deposits and borrowings driven by a $17.3 million increase in the average balance of interest-bearing funds and a $16.6 million decrease in the average balance of noninterest-bearing deposits. The higher expenses were partially offset by a $609,000 increase in total interest income due to a 0.66% increase in the yield of interest earning assets.

    Net interest margin for the three-month period ended September 30, 2024, was 3.06%, compared to 3.21% for the same period of 2023.   Higher average interest-bearing funds, lower average noninterest-bearing funds, and higher cost of funds, partially offset by higher average yields and balances on interest-earning assets were the primary drivers of year-over-year results. The average balance of interest-bearing funds and noninterest-bearing funds increased $17.3 million and decreased $16.6 million, respectively, and the cost of funds increased 0.86%, when comparing the three-month periods ending September 30, 2023, and 2024. The average balance of interest-earning assets increased $0.8 million while the yield increased 0.66% from 3.64% to 4.30%, when comparing the three-month periods ending September 30, 2023, and 2024, respectively.

    The average balance of interest-bearing deposits in banks and investment securities decreased $25.3 million from $188.2 million to $162.9 million for the third quarter of 2024, compared to the same period of 2023, while the yield remained unchanged during that same period.

    Average loan balances increased $26.1 million to $203.3 million for the three-month period ended September 30, 2024, compared to $177.2 million for the same period of 2023, while the yield increased 0.89% from 4.80% to 5.69% during that same period. The increase in loan yields for the third quarter of 2024 reflected the runoff of the lower yielding loans and the origination of higher yielding loans in the current higher rate environment.

    The provision of allowance for credit loss on loans for the three-month period ended September 30, 2024, was $78,000, compared to a release of allowance for credit loss of $92,000 for the same period of 2023. The $170,000 increase in the provision for the three-month period ended September 30, 2024, when compared to the three-month period ended September 30, 2023, primarily reflects a $32.0 million increase in the reservable balance of the loan portfolio and a 0.13% increase in the current expected credit loss percentage.

    For the three-month period ended September 30, 2024, noninterest expense was $3.0 million, compared to $2.8 million for the three-month period ended September 30, 2023, an increase of $200,000. The primary contributors to the $200,000 increase, when compared to the three-month period ended September 30, 2023, were increases in legal, accounting, and other professional fees, data processing and item processing services, advertising and marketing related expenses, and other expenses (primarily allowance for unfunded commitments), offset by decreases in salary and employee benefits.

    For the nine-month periods ended September 30, 2024, and 2023

    Net loss for the nine-month period ended September 30, 2024, was $72,000, as compared to net income of $1.3 million for the nine-month period ended September 30, 2023. The decrease is primarily the result of a $460,000 decrease in interest and dividends on securities, a $1.0 million increase in interest expense on short-term borrowings, a $1.4 million increase in interest expense on deposits and a $780,000 increase in the provision for credit losses on loans, partially offset by an increase of $1.3 million in loan interest income and fees, a $535,000 increase in interest on deposits with banks and a $569,000 decrease in the provision for income taxes.

    Net interest income for the nine-month period ended September 30, 2024, totaled $8.2 million, a decrease of $1.1 million from the nine-month period ended September 30, 2023. The decrease in net interest income was due to a $2.4 million increase in the cost of interest-bearing deposits and borrowings driven by a $17.3 million increase in the average balance of interest-bearing funds and a $20.0 million decrease in the average balance of noninterest-bearing deposits. The higher expenses were partially offset by a $1.3 million increase in total interest income due to a 0.51% increase in the yield of interest earning assets.

    Net interest margin for the nine-month period ended September 30, 2024, was 2.98%, compared to 3.35% for the same period of 2023. Higher average interest-bearing funds, lower average noninterest-bearing funds, and higher cost of funds, partially offset by higher average yields on interest-earning assets, were the primary drivers of year-over-year results. The average balance of interest-bearing funds and noninterest-bearing funds increased $17.3 million and decreased $20.0 million, respectively, and the cost of funds increased 0.94%, when comparing the nine-month periods ending September 30, 2023, and 2024. The average balance of interest-earning assets decreased $2.7 million, while the yield increased 0.51% from 3.59% to 4.10%, when comparing the nine-month periods ending September 30, 2023, and 2024, respectively.

    The average balance of interest-bearing deposits in banks and investment securities decreased $10.1 million from $187.9 million to $177.8 million for the first nine months of 2024, compared to the same period of 2023, while the yield increased 0.20% from 2.51% to 2.71% during that same period. The increase in yields is attributed to the higher interest rate environment and its positive impact on cash balances and investment yields.

    Average loan balances increased $7.4 million to $188.6 million for the nine-month period ended September 30, 2024, compared to $181.2 million for the same period of 2023, while the yield increased 0.72% from 4.70% to 5.42% during that same period. The increase in loan yields for the first nine months of 2024 reflected the runoff of the lower yielding loans and origination of higher yielding loans in the current higher rate environment.

    The Company recorded a provision of allowance for credit loss on loans of $773,000 for the nine-month period ending September 30, 2024, compared to a release of allowance for credit loss of $7,000 for the same period in 2023. The $780,000 increase in the provision in 2024, compared to 2023, primarily reflects a $32.0 million increase in the reservable balance of the loan portfolio and a 0.13% increase in the current expected credit loss percentage.   As a result, the allowance for credit loss on loans was $2.75 million on September 30, 2024, representing 1.33% of total loans, compared to $2.09 million, or 1.20% of total loans on September 30, 2023.

    For the nine-month period ended September 30, 2024, noninterest expense was $8.8 million, compared to $8.7 million for the nine-month period ended September 30, 2023. The primary contributors when comparing to the nine-month period ended September 30, 2023, were increases in occupancy and equipment expenses, legal, accounting, and other professional fees, advertising and marketing related expenses, and other expenses (primarily allowance for unfunded commitments), offset by decreases in salary and employee benefits costs.

    Glen Burnie Bancorp Information

    Glen Burnie Bancorp is a bank holding company headquartered in Glen Burnie, Maryland. Founded in 1949, The Bank of Glen Burnie® is a locally owned community bank with 8 branch offices serving Anne Arundel County. The Bank is engaged in the commercial and retail banking business including the acceptance of demand and time deposits, and the origination of loans to individuals, associations, partnerships, and corporations. The Bank’s real estate financing consists of residential first and second mortgage loans, home equity lines of credit and commercial mortgage loans. The Bank also originates automobile loans through arrangements with local automobile dealers. Additional information is available at www.thebankofglenburnie.com.

    Forward-Looking Statements

    The statements contained herein that are not historical financial information may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, which could cause the company’s actual results in the future to differ materially from its historical results and those presently anticipated or projected. These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” and similar expressions. Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. For a more complete discussion of these and other risk factors, please see the company’s reports filed with the Securities and Exchange Commission.

    For further information contact:

    Jeffrey D. Harris, Chief Financial Officer
    410-768-8883
    jdharris@bogb.net
    106 Padfield Blvd
    Glen Burnie, MD 21061

    GLEN BURNIE BANCORP AND SUBSIDIARY
    CONSOLIDATED BALANCE SHEETS
    (dollars in thousands)
                   
      September 30,   June 30,   December 31,   September 30,
        2024       2024       2023     2023  
      (unaudited)   (unaudited)   (audited)   (unaudited)
    ASSETS              
    Cash and due from banks $ 2,255     $ 1,804     $ 1,940     2,380  
    Interest-bearing deposits in other financial institutions   20,207       14,982       13,301     12,142  
    Total Cash and Cash Equivalents   22,462       16,786       15,241     14,522  
                   
    Investment securities available for sale, at fair value   119,958       117,180       139,427     142,705  
    Restricted equity securities, at cost   246       246       1,217     980  
                   
    Loans, net of deferred fees and costs   206,975       201,500       176,307     174,796  
    Less: Allowance for credit losses(1)   (2,748 )     (2,625 )     (2,157 )   (2,094 )
    Loans, net   204,227       198,875       174,150     172,702  
                   
    Premises and equipment, net   2,723       2,833       3,046     3,177  
    Bank owned life insurance   8,789       8,744       8,657     8,614  
    Deferred tax assets, net   6,879       8,329       7,897     10,187  
    Accrued interest receivable   1,478       1,358       1,192     1,373  
    Accrued taxes receivable   497       552       121     189  
    Prepaid expenses   486       355       475     538  
    Other assets   614       458       390     377  
    Total Assets $ 368,359     $ 355,716     $ 351,813     355,364  
                   
    LIABILITIES              
    Noninterest-bearing deposits $ 115,938     $ 109,631     $ 116,922     126,898  
    Interest-bearing deposits   198,335       196,235       183,145     187,943  
    Total Deposits   314,273       305,866       300,067     314,841  
                   
    Short-term borrowings   30,000       30,000       30,000     25,000  
    Defined pension liability   329       328       324     322  
    Accrued expenses and other liabilities   2,597       2,051       2,097     2,040  
    Total Liabilities   347,199       338,245       332,488     342,203  
                                 
    STOCKHOLDERS’ EQUITY                            
    Common stock, par value $1, authorized 15,000,000 shares, issued and outstanding 2,900,681; 2,893,648; 2,882,627; 2,877,084 shares as of September 30, 2024, June 30, 2024, December 31, 2023, and September 30,2023 respectively.   2,901       2,894       2,883     2,877  
    Additional paid-in capital   11,037       11,014       10,964     10,940  
    Retained earnings   22,921       23,081       23,859     23,980  
    Accumulated other comprehensive loss   (15,699 )     (19,518 )     (18,381 )   (24,636 )
    Total Stockholders’ Equity   21,160       17,471       19,325     13,161  
    Total Liabilities and Stockholders’ Equity $ 368,359     $ 355,716     $ 351,813     355,364  
                   
    GLEN BURNIE BANCORP AND SUBSIDIARY
    CONSOLIDATED STATEMENTS OF INCOME
    (dollars in thousands, except per share amounts)
    (unaudited)
                   
        Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
        2024       2023       2024       2023  
    Interest income              
    Interest and fees on loans $ 2,908     $ 2,145     $ 7,648     $ 6,368  
    Interest and dividends on securities   814       1,101       2,605       3,065  
    Interest on deposits with banks and federal funds sold   237       104       1,004       469  
    Total Interest Income   3,959       3,350       11,257       9,902  
                   
    Interest expense              
    Interest on deposits   730       116       1,716       337  
    Interest on short-term borrowings   408       282       1,363       320  
    Total Interest Expense   1,138       398       3,079       657  
                   
    Net Interest Income   2,821       2,952       8,178       9,245  
    Provision (release) of credit loss allowance   78       (92 )     773       (7 )
    Net interest income after provision of credit loss provision   2,743       3,044       7,405       9,252  
                   
    Noninterest income              
    Service charges on deposit accounts   36       40       109       120  
    Other fees and commissions   273       233       584       560  
    Income on life insurance   45       42       132       120  
    Total Noninterest Income   354       315       825       800  
                   
    Noninterest expenses              
    Salary and employee benefits   1,654       1,691       4,872       5,089  
    Occupancy and equipment expenses   327       329       996       955  
    Legal, accounting and other professional fees   267       194       769       692  
    Data processing and item processing services   263       206       755       755  
    FDIC insurance costs   41       40       119       122  
    Advertising and marketing related expenses   40       26       88       72  
    Loan collection costs   5       10       11       13  
    Telephone costs   41       38       110       113  
    Other expenses   380       287       1,052       880  
    Total Noninterest Expenses   3,018       2,821       8,772       8,691  
                   
    Income (loss) before income taxes   79       538       (542 )     1,361  
    Income tax (benefit) expense   (50 )     (13 )     (470 )     99  
                   
    Net income (loss) $ 129     $ 551     $ (72 )   $ 1,262  
                   
    Basic and diluted net income (loss) per common share $ 0.04     $ 0.19     $ (0.02 )   $ 0.44  
                   
    GLEN BURNIE BANCORP AND SUBSIDIARY
    CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY
    For the nine months ended September 30, 2024 and 2023
    (dollars in thousands)
    (unaudited)
                       
                  Accumulated    
          Additional       Other   Total
      Common   Paid-in   Retained   Comprehensive   Stockholders’
      Stock   Capital   Earnings   Loss   Equity
    Balance, December 31, 2022 $ 2,865   $ 10,862   $ 23,579     $ (21,252 )   $ 16,054  
                       
    Net income   –     –     1,262       –       1,262  
    Cash dividends, $0.30 per share   –     –     (861 )     –       (861 )
    Dividends reinvested under                  
       dividend reinvestment plan   12     78     –       –       90  
    Other comprehensive loss   –     –     –       (3,384 )     (3,384 )
    Balance, September 30, 2023 $ 2,877   $ 10,940   $ 23,980     $ (24,636 )   $ 13,161  
                       
                       
                  Accumulated    
          Additional       Other   Total
      Common   Paid-in   Retained   Comprehensive   Stockholders’
      Stock   Capital   Earnings   (Loss) Income   Equity
    Balance, December 31, 2023 $ 2,883   $ 10,964   $ 23,859     $ (18,381 )   $ 19,325  
                       
    Net loss   –     –     (72 )     –       (72 )
    Cash dividends, $0.30 per share   –     –     (866 )     –       (866 )
    Dividends reinvested under                  
       dividend reinvestment plan   18     73     –       –       91  
    Other comprehensive income   –     –     –       2,682       2,682  
    Balance, September 30, 2024 $ 2,901   $ 11,037   $ 22,921     $ (15,699 )   $ 21,160  
                       
    THE BANK OF GLEN BURNIE
    CAPITAL RATIOS
    (dollars in thousands)
    (unaudited)
     
                  To Be Well
                  Capitalized Under
            To Be Considered   Prompt Corrective
            Adequately Capitalized Action Provisions
      Amount Ratio   Amount Ratio   Amount Ratio
    As of September 30, 2024:                
    Common Equity Tier 1 Capital $ 36,755 15.47 %   $ 10,691 4.50 %   $ 15,443 6.50 %
    Total Risk-Based Capital $ 39,729 16.72 %   $ 19,006 8.00 %   $ 23,758 10.00 %
    Tier 1 Risk-Based Capital $ 36,755 15.47 %   $ 14,255 6.00 %   $ 19,006 8.00 %
    Tier 1 Leverage $ 36,755 10.11 %   $ 14,539 4.00 %   $ 18,173 5.00 %
                     
    As of June 30, 2024:                
    Common Equity Tier 1 Capital $ 36,896 15.59 %   $ 10,652 4.50 %   $ 15,386 6.50 %
    Total Risk-Based Capital $ 39,857 16.84 %   $ 18,937 8.00 %   $ 23,671 10.00 %
    Tier 1 Risk-Based Capital $ 36,896 15.59 %   $ 14,202 6.00 %   $ 18,937 8.00 %
    Tier 1 Leverage $ 36,896 10.10 %   $ 14,617 4.00 %   $ 18,271 5.00 %
                     
    As of December 31, 2023:                
    Common Equity Tier 1 Capital $ 37,975 17.37 %   $ 9,840 4.50 %   $ 14,213 6.50 %
    Total Risk-Based Capital $ 40,237 18.40 %   $ 17,493 8.00 %   $ 21,867 10.00 %
    Tier 1 Risk-Based Capital $ 37,975 17.37 %   $ 13,120 6.00 %   $ 17,493 8.00 %
    Tier 1 Leverage $ 37,975 10.76 %   $ 14,113 4.00 %   $ 17,641 5.00 %
                     
    As of September 30, 2023:                
    Common Equity Tier 1 Capital $ 38,053 17.12 %   $ 10,004 4.50 %   $ 14,450 6.50 %
    Total Risk-Based Capital $ 40,227 18.10 %   $ 17,785 8.00 %   $ 22,231 10.00 %
    Tier 1 Risk-Based Capital $ 38,053 17.12 %   $ 13,338 6.00 %   $ 17,785 8.00 %
    Tier 1 Leverage $ 38,053 10.56 %   $ 14,420 4.00 %   $ 18,026 5.00 %
                     
    GLEN BURNIE BANCORP AND SUBSIDIARY
    SELECTED FINANCIAL DATA
    (dollars in thousands, except per share amounts)
                   
      Three Months Ended   Year Ended
      September 30, June 30,   September 30,   December 31,
        2024       2024       2023       2023  
      (unaudited)   (unaudited)   (unaudited)   (unaudited)
                   
    Financial Data              
    Assets $ 368,359     $ 355,716     $ 355,364     $ 351,813  
    Investment securities   119,958       117,180       142,705       139,427  
    Loans, (net of deferred fees & costs)   206,975       201,500       174,796       176,307  
    Allowance for loan losses   2,748       2,625       2,094       2,157  
    Deposits   314,273       305,866       314,841       300,067  
    Borrowings   30,000       30,000       25,000       30,000  
    Stockholders’ equity   21,160       17,471       13,161       19,325  
    Net income (loss)   129       (204 )     551       1,429  
                   
    Average Balances              
    Assets $ 364,127     $ 366,071     $ 360,767     $ 361,731  
    Investment securities   142,972       148,690       177,856       173,902  
    Loans, (net of deferred fees & costs)   203,316       186,650       177,223       179,790  
    Deposits   312,019       307,427       321,318       330,095  
    Borrowings   30,001       38,891       19,946       12,580  
    Stockholders’ equity   19,559       17,369       17,548       17,105  
                   
    Performance Ratios              
    Annualized return on average assets   0.14 %     -0.22 %     0.61 %     0.40 %
    Annualized return on average equity   2.63 %     -4.72 %     12.47 %     8.35 %
    Net interest margin   3.06 %     3.02 %     3.21 %     3.31 %
    Dividend payout ratio   224 %     -142 %     52 %     80 %
    Book value per share $ 7.29     $ 6.04     $ 4.57     $ 6.70  
    Basic and diluted net income per share   0.04       (0.07 )     0.19       0.50  
    Cash dividends declared per share   0.10       0.10       0.10       0.40  
    Basic and diluted weighted average shares outstanding   2,897,929       2,891,203       2,875,329       2,873,500  
                   
    Asset Quality Ratios              
    Allowance for loan losses to loans   1.33 %     1.30 %     1.20 %     1.22 %
    Nonperforming loans to avg. loans   0.14 %     0.17 %     0.33 %     0.29 %
    Allowance for loan losses to nonaccrual & 90+ past due loans   937.5 %     827.1 %     359.4 %     409.3 %
    Net charge-offs annualize to avg. loans   -0.09 %     -0.14 %     0.09 %     0.06 %
                   
    Capital Ratios              
    Common Equity Tier 1 Capital   15.47 %     15.59 %     17.12 %     17.37 %
    Tier 1 Risk-based Capital Ratio   15.47 %     15.59 %     17.12 %     17.37 %
    Leverage Ratio   10.11 %     10.10 %     10.56 %     10.76 %
    Total Risk-Based Capital Ratio   16.72 %     16.84 %     18.10 %     18.40 %

    The MIL Network –

  • MIL-OSI Africa: Presidents, Energy Ministers, Investors and Independent Power Producers (IPP) to Meet in Togo for West Africa Energy Cooperation Summit

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

    LOMÉ, Togo, October 31, 2024/APO Group/ —

    The West Africa Energy Cooperation Summit (WA-ECS) is set to tackle project development bottlenecks across the ECOWAS region and drive sustainable energy development across West Africa from 3-5 December 2024, in Lomé, Togo. The response from the private sector, who are actively looking for energy projects, but often frustrated by the pace of development, tells us this meeting is long overdue.

    Under the distinguished patronage of the President of the Togolese Republic, H.E. Honourable Faure Essozimna Gnassingbé, WA-ECS will address regional infrastructure and the energy projects critical to economic growth, driving forward West Africa’s critical mineral resource expansion programme in cooperation with power generation, and encouraging cross-border cooperation that will bolster regional energy development.

    With success stories and blueprints from Senegal, Nigeria, Benin, Cote d’Ivoire and Togo itself, WA-ECS is urging greater collaboration between countries, sectors, private and public, to create new pathways and to reduce risk.  

    The theme for the summit is ‘Empowering West Africa’s Growth Through Strategic Energy Partnership’. In recent years, the pace of large-scale projects has stalled due to the disruptive pace of getting projects green-lit. It is, therefore, vital for all stakeholders to be more direct in their dialogue to reverse this tide and restart the region’s mineral-centric economies, and solar, wind, hydro, and gas IPPs sit firmly at the centre of this initiative.

    “As the developers behind Togo’s first utility-scale renewable energy project, AMEA Power is excited to be part of this pivotal summit, and we anticipate fruitful discussions and solutions that will advance renewable energy in West Africa,” said Hussein Matar, Senior Director, AMEA Power, the lead sponsor of WA-ECS. 

    Positive signs are already visible with the ongoing development of the Lobito Corridor, the Nigeria-Morocco gas pipeline, solar projects in Mauritania, Togo, and Mali, and the regional Battery Energy Storage System (BESS) programme, which is set to become operational in 2025.

    However, the 2030 renewable energy goals to enhance trade through the West African Power Pool (WAPP) are still a long way from being on track, underscoring the need for private sector involvement and deeper collaboration with governments and the mining sector. A series of multilateral and independent investor, utility, and ministerial boardroom discussions will follow the Presidential Day of the summit, pushing energy access up the political agenda at the highest levels.

    Ministers from The Gambia and Benin will be attending and speaking, alongside a strong contingent from the private and financial sectors. Kekeli Efficient Power, Genesis Energy, World Bank, BII, Shell Energy, Proparco, and Masdar are just some of the many who will contribute their unique perspective.

    H.E. Honourable Robert Koffi Messan Eklo, Togo’s Minister of Mines and Energy Resources, says, “As a pivotal energy hub in West Africa, our country is uniquely positioned to lead in advancing regional energy cooperation. The West Africa Energy Cooperation Summit will be a cornerstone event where we can collectively shape the future of energy infrastructure, fostering growth that transcends borders and benefits all.”

    MIL OSI Africa –

  • MIL-OSI: Total voting rights and Capital

    Source: GlobeNewswire (MIL-OSI)

    Albion Development VCT PLC

    Total Voting Rights and Capital

    LEI Code 213800FDDMBD9QLHLB38

    In conformity with the provisions of Disclosure Guidance and Transparency Rule 5.6.1, Albion Development VCT PLC (the “Company”) would like to notify the market of the following:

    As at 31 October 2024, the issued share capital and voting rights of the Company are as follows:

    Class and nominal value of share Total number of shares in issue Number of shares held in treasury (with no voting rights attached) Total number of shares in circulation with voting rights attached Number of voting rights attached to each share
    Ordinary 1p shares 167,899,752 19,309,045 148,590,707 1

    The above total voting rights figure may be used by shareholders or other persons as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.

    31 October 2024

    For further information please contact:

    Vikash Hansrani
    Operations Partner
    Albion Capital Group LLP
    Tel: 020 7601 1850

    The MIL Network –

  • MIL-OSI Security: Defense News: HSC-26 Embraces History and Heritage Ahead of Veterans Day 2024

    Source: United States Navy

    Every November, the United States takes a day to honor veterans for their service and sacrifices to their country. As Veteran’s Day 2024 approaches, HSC-26 reflects on a recent and unique opportunity to do just that while hosting retired Capt. Pete Lumianski and his wife Chris for a tour of his former squadron.

    The couple now reside in Phoenix, Arizona, so the trip was inspired by the opportunity to visit friends and peers from their time in service who they don’t often have the option to visit, leading to a short stop in Norfolk to reminisce on Lumianski’s early days of service.

    A U.S. Naval Academy graduate of the class of 1965, Lumianski arrived to his first fleet command, HC-4 Detachment Norfolk, in 1967 following the conclusion of flight school and the pinning of his “Wings of Gold”. Shortly after his arrival, the squadron was re-designated as HC-6, meeting various missions with multiple different helicopters.

    “HC flying was a terrific start to my Navy career. There were three types of choppers on the flight line: H-34s, H-3s and H-46s, about 30 assigned pilots, many operational missions and lots of opportunities to head out to sea on board a variety of ships including destroyers, frigates, amphibious assault ships and aircraft carriers,” Lumianski said of his first sea tour.

    He was designated as an aircraft commander for both the Sikorsky RH-3A Sea King and the UH-34 Sea Horse helicopters, executing mine countermeasures and combat support missions respectively, but also logged copilot time in the Boeing CH-46 Sea Knight helicopter executing vertical replenishment and logistics missions before he received orders back to flight school as an instructor at Helicopter Training Squadron (HT) 8 in 1970.

    “I loved my first operational flying assignment in Norfolk, a squadron with many diverse and odd-ball pilots assigned. The ready room was always a ‘Star Wars Bar Scene’ look-alike,” Lumianski expressed.

    Lt. Maxwell Gray, a pilot currently assigned to HSC-26, assisted with the visit. Starting off in the ready room, he showed Lumianski and his wife various offices and work centers, maintenance spaces and projects as well as the paraloft, ending the tour with a static display of HSC-26’s current helicopter platform, the MH-60S Knighthawk.

    “Meeting with Capt. Lumianski was a great honor and experience that I’ll never forget. His stories of flying the mighty H-3 were inspiring and I am grateful for the wisdom he shared,” Gray said of the experience. “I’ll carry it with me for the rest of my career.”

    The hard work and dedication of squadron personnel were impossible to miss. Multiple aircraft in the hangar were in varying levels of assembly while maintenance personnel kept replacement parts as well as those which were to be returned to their airframes organized in easily identifiable locations. To the untrained eye it may have appeared chaotic, but Lumianski saw expertise, attention to detail and pride shine through.

    “Overall, the hangar looked and sounded a lot like it was back in the 60’s: busy, mission-oriented, rugged, with well-worn, hard-working aircraft, and the assignment of lots of officers and enlisted to make things work,” Lumianski said. “I leave you feeling that the Navy is in good hands and the helicopter world is still a big contributor to the Navy’s readiness and success.”

    Nowadays, Lumianski has dedicated himself to giving back to his local community and other Cold War veterans like himself by promoting a project that would bring unique Cold War monument to downtown Phoenix.

    “I’ve been working on this project in Phoenix for the past 30 years, and we’re finally making significant progress with the city’s help,” Lumianski said.

    As a plank owner of a special city-appointed group, the USS Phoenix (SSN 702) Commission, Lumianski has led an effort to ensure 65 tons of salvaged parts from the Cold War era Los Angeles-class fast attack submarine make their way to their namesake city. The project was created in an effort to help preserve history and allow visitors to “Learn, Honor and Remember” Cold War military Veterans of all services, as well as civilians serving in defense and national security areas for their contributions to ending the Cold War.

    He feels it is truly a culmination of his life in service as a Cold War era naval aviator qualified and capable of executing the anti-submarine warfare mission, and a passion project that is nearing realization.

    “I spent 27 years in the Navy, and overall had a tremendous and gratifying learning experience. The opportunities for using and growing my leadership and management skills, the accomplishment of developing and perfecting my operational and flying skills, the hard work and adventures of operational life, and most of all the fun, enjoyment and satisfaction of working with so many fine officers and enlisted persons over many years have all fixed and maintained my positive perspectives and attitudes about life,” Lumianski reflected. ”I owe a lot to my naval career, and greatly appreciate what it has done to and for me.”

    The impact and legacy of Pete Lumianski will no doubt leave a lasting impression on the members of HSC-26 who were fortunate enough to meet him.

    MIL Security OSI –

  • MIL-OSI Video: CEO Climate Alliance | Gim Huay Neo

    Source: World Economic Forum (video statements)

    With climate and biodiversity on the global agenda, the business benefits of net zero are clear, says Gim Huay Neo, co-chair of a Global Alliance of CEO Climate LeadersIn an open letter ahead of #COP29, the Alliance of CEO Climate Leaders calls for urgent action to combat climate change.

    Highlighting the critical role of collaborative leadership from business and government, the world’s largest CEO-led climate community is advocating for ambitious, science-based targets to support climate action and spur investment.

    Read the full letter: wef.ch/COP29OpenLetter24

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/ 
    Twitter ► https://twitter.com/wef
    LinkedIn ► https://www.linkedin.com/company/world-economic-forum
    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #WorldEconomicForum

    https://www.youtube.com/watch?v=L39TNIlTajc

    MIL OSI Video –

  • MIL-OSI United Kingdom: Report by the Co-ordinator of OSCE Economic and Environmental Activities: UK response, October 2024

    Source: United Kingdom – Executive Government & Departments

    Ambassador Holland says the OSCE is uniquely placed to view the climate crisis though a security lens.

    Location:
    Vienna
    Delivered on:
    (Transcript of the speech, exactly as it was delivered)

    It has been more than six months since your inaugural address in your new role, and we continue to remain dismayed by the devastating economic and environmental effects Russia’s war of choice against Ukraine are having on our region.  

    We are pleased that your office continues to work on assessing the environmental impact of Russia’s war. The careful documentation of environmental damage provided by this project and its recommendations will be invaluable in holding Russia to account and supporting Ukraine’s recovery efforts after the war. 

    Water management was the theme of EEDIM earlier this week. As I said there, we must recognise that rivers, lakes, aquifers and glaciers often straddle borders, so regional cooperation and cross-border solutions are crucial to prevent conflicts over control of water resources.   

    At the same time, the scarcity of this natural resource is tied up with the threats posed by climate change. The OSCE is uniquely placed to view the climate crisis though a security lens, and we welcome the work your office has done via your climate security project to identify where these risks are most acute.   

    Alongside conflict and economic opportunity, climate change is one of many drivers of migration. If migration is not safe, orderly and regular it can make those on the move vulnerable to risks, put a strain on communities, and undermine public confidence in states’ and the international community’s ability to manage migration effectively.  

    In this vein, the UK is pleased to be able to contribute to the project “Strengthening the evidence-based understanding of the climate change, migration and security nexus in South-Eastern Europe”, which, as you highlight in your report, should improve our understanding of the interlinkages between climate change and human mobility, as well as of the impacts of emigration and depopulation on the environment. 

    Our work to combat money laundering and illicit finance is made more challenging by innovations in digital finance and the increasing use of virtual assets, including by serious organised crime. The UK co-funds the ExB project “Innovative Policy Solutions to Mitigate Money Laundering Risks of Virtual Assets” to build capacity in Central Asia, Eastern Europe and the South Caucasus, to deal with this fast-evolving area. 

    Finally, I would like to take this opportunity to pay tribute to the outgoing chair of the second dimension committee and thank Ambassador Raunig for chairing this committee so ably, including by keeping the war against Ukraine a focus of the committee’s work. We look forward to working with the new chair of the second dimension committee in addressing the most pressing economic and environmental issues facing our region. 

    Ambassador, thank you again for your report, and we look forward to supporting you and your able team in the months ahead.

    Updates to this page

    Published 31 October 2024

    Invasion of Ukraine

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Charity Commission Annual Public Meeting 2024

    Source: United Kingdom – Executive Government & Departments

    Charity Commission Chair, Orlando Fraser KC, and Chief Executive, David Holdsworth, invite you to our Annual Public Meeting on Tuesday 26 November at 11:00am.

    You are invited to join our Annual Public Meeting on Tuesday 26 November 2024 at 11:00am. Attend in-person in London or join online via our livestream.

    About the event

    Our Chair Orlando Fraser KC, Chief Executive David Holdsworth and colleagues will provide updates and insight into the Commission’s activities and answer questions about our work.

    This is a hybrid event open to all members of the public and charity representatives who wish to attend in-person or join online.

    In-person attendees will have the opportunity to visit our exhibition stands and speak to members of our staff both before and after the main meeting. In addition, a light lunch will be available at the conclusion of the main meeting, with an opportunity to network.

    This event is free of charge but registration is required. Please book online to join this event in-person or online.

    Date & Time

    Tuesday 26 November 2024

    11:00am to 12:30pm

    In-person attendees should please arrive from 10:00am for registration.

    Venue

    Kings Place (Hall 2)
    90 York Way
    London
    N1 9AG

    Our privacy notice for the live broadcast of our Annual Public Meeting can be found on GOV.UK.

    Updates to this page

    Published 31 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Representatives of the architectural bureau “DA bureau” shared their experience and told how to find the desired job without having any experience

    Translation. Region: Russian Federation –

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Kamila Gilmutdinova and Olga Belyakova

    SPbGASU is holding a competition for the best concept for the main building lobby among students. Our university graduates who have achieved success in the profession have been invited as experts to evaluate the competition entries. In order to improve the students’ professional competencies, they also hold educational lectures. One of them was given by leading architect Olga Belyakova and senior architect Kamila Gilmutdinova from the architectural bureau “DA bureau”, which implements projects in Russia and abroad.

    Olga Belyakova and Kamila Gilmutdinova graduated from SPbGASU in different years and believe that they received a high-quality education, but they emphasize: in order to remain a sought-after specialist in today’s reality, an architect must study all his life, but in a bachelor’s degree it is better to focus on studying. Because the work requires a lot of time and effort, which is why there is a high risk of getting significant gaps in basic knowledge. But in these years, participation in competitions, workshops, summer schools, inter-university events, and training courses are encouraged.

    “These are great stories that help not only expand professional knowledge and skills, but also develop communication skills, provide new useful contacts in areas of interest to you. This is no less important for successful activity,” the experts believe.

    First of all, they paid attention to the range of job responsibilities of a practicing architect. Thus, work on a project includes not only design, but also interaction with the customer, builders, specialists in related industries, approvals and edits, budget allocation, adherence to the schedule and even periodic emotional and professional burnout. But all this is compensated by the successful implementation of projects. And it, in turn, is impossible not only without professionalism, but also without love for the specialty.

    “It is the love for the work and the creative approach that unite the teams of our bureau,” emphasized Olga Belyakova. Kamilla Gilmutdinova added: “We do not simply design objects, we write their unique history through design and architectural forms.”

    During the lecture, they, relying on their own projects, told how to design and implement objects with an area from ten square meters to thirteen hectares. Among them are offices, restaurants, shops, and other spaces. Kamila Gilmutdinova demonstrated a completed project of a cultural heritage site, which became a successful example of the fact that architecture does not dictate a concept. Inspired by natural phenomena, the architect used color effects, digital technologies, and distributed zones without major redevelopment. Speaking about her project of a jewelry store, Olga Belyakova advised carefully studying the customer’s technical specifications and working out all the details. Because in this case, even improper lighting and installation of mirrors can reduce sales several times.

    “A competent and beautiful design attracts a large number of visitors, the right lighting allows you to present jewelry favorably, and mirrors placed in the most advantageous places emphasize their beauty when trying on. Zoning by means of lighting helped to create a kind of navigator for customers who easily find the necessary department. We also added a unique digital element – a robotic arm, which is clearly visible from the street and attracts passers-by, therefore, potential customers. When designing stores, you should always proceed from the product range. This is one of the main rules,” Olga reminded.

    Kamila added that there are limitations in the design of any object, and they are the ones that create the rules for the architect, and therefore the project itself. Therefore, they need to be clarified at the beginning of the work.

    The numerous projects demonstrated interested the students so much that they not only clarified the smallest details in working on them, but also asked the main question: “Is it possible to get a job in a bureau if you have no experience, and what competencies do you need to have in order to attract attention?” It turned out that the lack of experience for a young specialist is not an obstacle to employment. The main thing is to have a desire to work, improve professional knowledge, the ability to work in a team, have communication skills, since the profession involves constant interaction with many people. And be proactive, and not automatically carry out assigned tasks.

    “When selecting candidates, we are also interested in their hobbies. This fact confirms the versatility of a person and the ability to organize their time. It will be much easier to work if you have a sense of humor and are not afraid to ask experienced colleagues about incomprehensible things. During the probationary period, we evaluate not only technical skills, but also pay attention to these personal qualities,” the architects said.

    In addition, they advised to learn now how to use your time rationally for work and rest, learn foreign languages, set priorities in order to understand where you need to spend more effort for the effectiveness of work or study. Because in future professional activities you need to clearly focus on the project, the design, that is, the main things. Do not be upset because of someone else’s (even authoritative) opinion that you will not succeed, because a subjective opinion is not an assessment or a sentence. Often in practice, everything turns out the other way around, and people reach professional heights.

    “I gladly accepted the offer to act as an expert of the competition, because, firstly, I graduated from SPbGASU. Secondly, it is interesting and useful to share my experience. When I was still studying in college, a university student inspired me with her story about studying to move to St. Petersburg and further receive higher education here. As a master’s student, I attended a lecture by “DA bureau”, which inspired me even more. I hope that I will become such an inspiration for the guys,” Olga said.

    “It is always important to show the path to the profession by your own example, to inspire, because it is difficult for a young specialist to immediately understand the mechanism of work, and information from practitioners expands this understanding,” summed up Kamila Gilmutdinova.

    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 USA: Golden, colleagues urge the release of untapped LIHEAP funding

    Source: United States House of Representatives – Congressman Jared Golden (ME-02)

    WASHINGTON — Congressman Jared Golden (ME-02) yesterday joined a bipartisan group of House members requesting that U.S. Department of Health and Human Services Secretary Xavier Becerra release the maximum dispersal of Low Income Home Energy Assistance Program (LIHEAP) funding made available from the recent government funding package.

    Golden joined 15 House colleagues in sending a letter to the secretary today, as agencies in Maine are ringing alarm bells about a lack of adequate LIHEAP funds

    “To prevent a lapse in eligible families’ ability to afford their home energy bills this fall, we urge you to immediately release the highest possible amount of LIHEAP funding made available by the Continuing Resolution,” the lawmakers wrote. “It is vital to ensure our seniors and low-income families are provided sufficient resources as temperatures cool in the months ahead.”

    Congress passed a temporary spending deal in September to delay a possible government shutdown through December 20. While this agreement included LIHEAP funding at the annualized rate of over $4 billion, none of that money has been dispersed for LIHEAP recipients to date.

    “As temperatures dip below freezing at night, our agency is inundated with calls from area residents in fuel emergencies. In Aroostook County alone, the number of households qualifying for the Federal Home Energy Assistance Program has increased by 60 percent in five years,”Jason Parent, executive director and CEO of the Aroostook County Action Program said.“At the same time the average household benefit has decreased by nearly $200.  This program is a critical lifeline for so many of our vulnerable seniors and families with children in Maine.”

    “Unfortunately, the demand for this program is more than we can fund. That means more people will have a benefit, but it is going to be a smaller benefit. With higher heating costs, higher grocery and gas costs, that means real people have less money to live,” Megan Hannan, executive director of the Maine Community Action Partnership said. “Our goal is to serve as many households as possible, and to make the benefits worth the work to receive it. We hope Congress understands that people are at risk without enough money to keep their homes warm.”

    Nationwide, an estimated 5 million households receive assistance with heating and cooling costs through LIHEAP, including over 45,000 Maine households. LIHEAP is administered by states and accessed through local Community Action Agencies. Eligibility for LIHEAP is based on income, family size, and the availability of resources. More information on the LIHEAP application process can be found here.   

    Golden has successfully led several efforts to increase Mainers’ access to LIHEAP, including last Congress when he and Senator Collins secured a total of $6.1 billion for the program in FY 2023. Last September, he and the rest of Maine’s Congressional Delegation secured an additional $38 million for Mainers in FY 2024, including $1.4 million for Maine’s tribes.

    Full text of Golden’s letter can be found here, and is included below in full:

     

    +++

     

    October 30, 2024

    The Honorable Xavier Becerra
    Secretary
    U.S. Department of Health and Human Services 
    330 C Street, SW
    Washington, D.C. 20416

    Dear Secretary Becerra:

    We write to urge the immediate release of the highest possible amount of Low-Income Home Energy Assistance Program (LIHEAP) funding available under the September 2024 Continuing Resolution (PL 118-83).

    As you well know, LIHEAP helps households unable to afford to heat their homes in the winter and cool their homes in the summer, providing assistance to at-risk seniors and families. In Fiscal Year 2023 (FY23), more than five million households across the country relied on critical heating assistance from the LIHEAP program. For LIHEAP recipients, this funding is a lifeline, helping prevent them from having to make an impossible choice between staying warm and putting food on the table or affording their medications.

    With the winter months rapidly approaching, releasing the highest amount of funding from the recent government funding package is critically needed to address the growing number of households unable to pay their energy bills. Continued escalation in the Middle East and Russia’s ongoing war in Ukraine have increased uncertainty in the energy market and raised concerns about potential spikes in energy prices. These shifts disproportionately harm those who already struggle to heat their homes and underscore the need for robust funding for LIHEAP. Historically, LIHEAP has been an underfunded and oversubscribed program. This remained true in FY23, with only around 15 percent of qualifying households nationwide receiving heating assistance through the program.

    To prevent a lapse in eligible families’ ability to afford their home energy bills this fall, we urge you to immediately release the highest possible amount of LIHEAP funding made available by the Continuing Resolution. It is vital to ensure our seniors and low-income families are provided sufficient resources as temperatures cool in the months ahead.

    Thank you for your attention to this matter, and we look forward to working with you further on this crucial program.

    Sincerely,

     

    ###

    MIL OSI USA News –

  • MIL-OSI USA: ‘Blood-Soaked’ Eyes: NASA’s Webb, Hubble Examine Galaxy Pair

    Source: NASA

    Stare deeply at these galaxies. They appear as if blood is pumping through the top of a flesh-free face. The long, ghastly “stare” of their searing eye-like cores shines out into the supreme cosmic darkness.

    It’s good fortune that looks can be deceiving.

    These galaxies have only grazed one another to date, with the smaller spiral on the left, cataloged as IC 2163, ever so slowly “creeping” behind NGC 2207, the spiral galaxy at right, millions of years ago.

    The pair’s macabre colors represent a combination of mid-infrared light from NASA’s James Webb Space Telescope with visible and ultraviolet light from NASA’s Hubble Space Telescope.

    Image A: Galaxies IC 2163 and NGC 2207 (Webb and Hubble Image)

    Look for potential evidence of their “light scrape” in the shock fronts, where material from the galaxies may have slammed together. These lines represented in brighter red, including the “eyelids,” may cause the appearance of the galaxies’ bulging, vein-like arms.

    The galaxies’ first pass may have also distorted their delicately curved arms, pulling out tidal extensions in several places. The diffuse, tiny spiral arms between IC 2163’s core and its far left arm may be an example of this activity. Even more tendrils look like they’re hanging between the galaxies’ cores. Another extension “drifts” off the top of the larger galaxy, forming a thin, semi-transparent arm that practically runs off screen.

    Image B: Galaxies IC 2163 and NGC 2207 (MIRI Image)

    Both galaxies have high star formation rates, like innumerable individual hearts fluttering all across their arms. Each year, the galaxies produce the equivalent of two dozen new stars that are the size of the Sun. Our Milky Way galaxy only forms the equivalent of two or three new Sun-like stars per year. Both galaxies have also hosted seven known supernovae in recent decades, a high number compared to an average of one every 50 years in the Milky Way. Each supernova may have cleared space in their arms, rearranging gas and dust that later cooled, and allowed many new stars to form.

    To spot the star-forming “action sequences,” look for the bright blue areas captured by Hubble in ultraviolet light, and pink and white regions detailed mainly by Webb’s mid-infrared data. Larger areas of stars are known as super star clusters. Look for examples of these in the top-most spiral arm that wraps above the larger galaxy and points left. Other bright regions in the galaxies are mini starbursts — locations where many stars form in quick succession. Additionally, the top and bottom “eyelid” of IC 2163, the smaller galaxy on the left, is filled with newer star formation and burns brightly.

    Image C: Galaxies IC 2163 and NGC 2207 (Hubble and Webb Images Side by Side)

    What’s next for these spirals? Over many millions of years, the galaxies may swing by one another repeatedly. It’s possible that their cores and arms will meld, leaving behind completely reshaped arms, and an even brighter, cyclops-like “eye” at the core. Star formation will also slow down once their stores of gas and dust deplete, and the scene will calm.

    Video A: Tour of Galaxies IC 2163 and NGC 2207

    [embedded content]

    The James Webb Space Telescope is the world’s premier space science observatory. Webb is solving mysteries in our solar system, looking beyond to distant worlds around other stars, and probing the mysterious structures and origins of our universe and our place in it. Webb is an international program led by NASA with its partners, ESA (European Space Agency) and CSA (Canadian Space Agency).

    The Hubble Space Telescope has been operating for over three decades and continues to make ground-breaking discoveries that shape our fundamental understanding of the universe. Hubble is a project of international cooperation between NASA and ESA (European Space Agency). NASA’s Goddard Space Flight Center in Greenbelt, Maryland, manages the telescope and mission operations. Lockheed Martin Space, based in Denver, Colorado, also supports mission operations at Goddard. The Space Telescope Science Institute in Baltimore, Maryland, which is operated by the Association of Universities for Research in Astronomy, conducts Hubble science operations for NASA.

    Downloads

    Right click any image to save it or open a larger version in a new tab/window via the browser’s popup menu.

    View/Download all image products at all resolutions for this article from the Space Telescope Science Institute.

    Media Contacts

    Laura Betz – laura.e.betz@nasa.gov, Claire Andreoli – claire.andreoli@nasa.govNASA’s Goddard Space Flight Center, Greenbelt, Md.

    Claire Blome – cblome@stsci.edu, Christine Pulliam – cpulliam@stsci.eduSpace Telescope Science Institute, Baltimore, Md.

    Related Information

    Other images: View of NGC 2207 in optical, x-ray, and infrared light

    Video: What happens when galaxies collide?

    Video: Galaxy Collisions: Simulations vs. Observations

    Article: More about Galaxy Evolution

    Video: Learn more about galactic collisions

    More Webb News

    More Webb Images

    Webb Science Themes

    Webb Mission Page

    Hubble Mission Page

    Related For Kids

    What is a galaxy?

    What is the Webb Telescope?

    The Amazing Hubble Telescope

    SpacePlace for Kids

    En Español

    ¿Qué es una galaxia?

    Ciencia de la NASA

    NASA en español 

    Space Place para niños

    MIL OSI USA News –

  • MIL-OSI USA: Middlesex Biotech Alum Publishes Fruit-fly Research

    Source: US State of Connecticut

    Jacqueline Guillemin, originally from the town of East Hampton, was homeschooled before deciding to pursue higher education. She wanted to further her studies but was unsure of which path to take. Her mother suggested CT State Middlesex (at that time Middlesex Community College), and it felt like an ideal choice, providing a smooth transition from homeschooling into college life.

    While at Middlesex, Jackie balanced being a full-time student with a part-time job. For a brief period, she also attended UConn as a full-time student while continuing her studies and work at Middlesex. At first, she was an environmental science major, driven by her interest in nature. However, her interests expanded when she enrolled in a biology course with Middlesex professor Frank Stellabotte, Ph.D.

    “When I took Dr. Stellabotte’s introductory biology course, I learned that the natural world had so much more to offer,” said Jackie.

    Jackie also added she was fortunate to study under several inspiring professors at Middlesex.

    “Clearly Dr. Stellabotte made an amazing impact on my education, introducing me to the topics I study today. Additionally, I would not be where I am without the support from [chemistry professor] Dr. Kimberly Thomas, who helped me find my passion for teaching in the sciences. Professor [Emerita] Donna Hylton, who gave me great guidance while working with the Computer Club as president,” Jackie said. “Honestly, I could list so many mentors from Middlesex as favorites!”

    Jackie recalls several standout Middlesex memories—from exploring genetics and zebrafish research with Dr. Stellabotte to hosting and gaming at Computer Club LAN nights.

    “Middlesex offered many opportunities to build a community and to truly feel connected which was very impactful to me,” said Jackie, who graduated from Middlesex in 2017 with an associate degree in biotechnology.

    When it came time to transfer to UConn to complete a four-year degree, Jackie again received strong support from Dr. Stellabotte along with advisor Emily Canto, who helped her build a compelling resume. Most of Jackie’s credits from Middlesex transferred smoothly, preparing her well for upper-level courses at UConn.

    Jackie went on to earn a bachelor’s degree in biology/biological sciences from UConn in 2019.

    Today, Jackie lives just outside of Burlington, VT, having chosen the University of Vermont (UVM) Department of Biology for her doctoral studies.

    “It’s a nice community of students and a broad biology program, which I appreciated for building my knowledge for a more integrative understanding of biology,” Jackie mentioned.

    At UVM’s Stanley Lab, Jackie’s research focuses on how fruit flies choose their food. She said she investigates feeding behaviors on a cellular and molecular level, seeking to understand how internal factors, like previous meals, influence their preferences.

    “We can use our knowledge of the fruit fly taste system to understand how humans integrate taste information and ways to decrease pest damage,” Jackie said.

    Jackie recently published an article in Cell Reports journal (Guillemin, 2023) describing previously unknown cellular functions in fruit flies, using innovative techniques to observe their taste response behaviors. Her findings revealed that certain cells activate upon detecting amino acids, prompting the flies to stop eating and lay eggs.

    “We use tools that allow us to modify the flies to piece together what parts are needed for taste and taste-related behaviors. Using these tools, I was able to ‘turn on’ the cell function and see what the fly does in response to that signal being sent to the brain,” Jackie explained. “Further, I can look at the brain in live flies and offer them different tastes and observe if the cell turns on to those tastes. We found that these cells turn on when in contact with protein building blocks called amino acids, and that they tell the fly to stop eating and instead lay eggs where ever they detect them.”

    Looking ahead, Jackie aims to complete her doctoral degree and hopes to secure a postdoctoral position that allows her to pursue independent research. Ultimately, she envisions a career that combines both research and teaching, passions she discovered during her time at Middlesex.

    During her time at Middlesex a decade ago, Jackie held various roles, including working in the Academic Success Center, serving as an educational assistant, and supporting the after-school STEAM Train computer training programs with Professor Hylton. At UVM, Jackie actively participates in her department’s social committee and holds a leadership position with the Out in STEM (OSTEM) group. Her teaching experience spans multiple semesters, covering subjects from genetics to comparative invertebrate physiology.

    This past summer, Jackie presented her research at the International Conference of Olfaction and Taste in Iceland, and in the fall, she attended the Society of Neuroscience conference in Chicago to showcase her latest findings for her next research paper.

    For prospective Middlesex students, Jackie encourages them to embrace every learning opportunity.

    “It may just feel like a class or two, but you are making connections for life in those classrooms. Relish in the time you have to talk with your professors about all of your favorite topics from that class,” advised Jackie. “And, most importantly, there is no such thing as a stupid question.”

    October 2024

    MIL OSI USA News –

  • MIL-OSI USA: HWI to expand in Fulton, investing $13.9 million and creating 11 new jobs

    Source: US State of Missouri

    HWI (HarbisonWalker International), one of the leading suppliers of refractory products and services in the United States and member of the Calderys Group, announced today that it will expand in Fulton, investing $13.9 million and creating 11 new jobs.

    “We’re excited to see an innovative and world-class company like HWI continuing to invest in Fulton,” said Governor Mike Parson. “From day one, our administration remained committed to improving infrastructure and strengthening our workforce to ensure a thriving economy. As a result, more and more quality employers like HWI are growing and improving the lives of Missourians and their families.”

    HWI’s expansion includes the construction of an additional, state-of-the-art, lightweight monolithics refractories manufacturing facility that will increase production capacity by approximately 60 percent while enhancing product availability. The facility will feature cutting-edge technology and process automation advancements, including a new furnace and automated robotic packaging and material handling systems. HWI currently employs more than 70 people at its existing Fulton location.

    “We’re proud of our company’s more than 100-year legacy in the Callaway County community, and we are thrilled to further expand operations here,” said Ross Wilkin, Senior Vice President of Americas for Calderys Group. “Our growth in Fulton is a testament to our confidence in our people and the community.”

    HWI’s new plant will provide access to local, high-quality clay reserves, allowing the company to increase the production of its Greenlite aggregate-containing products, including the GREENLITE®-45-L family of monolithics and GREENLITE® 115 AR brick. These products are used extensively in many applications, including petrochemical, power generation, and other heater linings. Their unique strength-to-density ratios optimize thermal insulation with minimal structural bulk to reduce energy consumption and support customers’ goals. The company’s new facility is expected to be completed in July 2025.

    “HWI’s expansion in Fulton is another exciting example of the rapid growth of our state’s manufacturing industry,” said Michelle Hataway, Director of the Department of Economic Development. “We’re pleased to support HWI as it continues to build on its long history of helping Missourians prosper in Callaway County.”

    New jobs added as part of HWI’s expansion will pay an average wage well above the county average.

    For this expansion, HWI will benefit from the Missouri Works program, a tool that helps companies expand and retain workers by providing access to capital through withholdings or tax credits for job creation.

    What others are saying

    “This investment demonstrates our commitment to meeting our customers’ evolving needs and reinforcing our market leadership position,” said Michel Cornelissen, President and CEO of Calderys.

    “This project represents a significant step forward for our community,” said Kim Barnes, President of the Fulton Area Development Foundation. “It underscores the importance of collaboration and strategic planning in attracting high-quality investments that will benefit the residents of Callaway County for years to come.”

    “We are thrilled to see HWI’s additional growth in Callaway County,” said Callaway County Commissioner Gary Jungermann. “This expansion is a testament to the ongoing efforts of our community to attract and retain quality businesses.  We look forward to seeing an even greater positive impact from HWI on the local workforce and economy.”

    “The collaboration between our local entities and state agencies was critical to making this happen,” said Tom Howard, IDA Board Member. “HWI’s decision to relocate here highlights the strength of our business environment, and we are excited to see this partnership grow.”

    About HWI, a member of Calderys

    HWI is one of the leading suppliers of refractory products and services in the United States, with a history that spans more than 150 years. It is part of Calderys and is the brand for the Americas region of the Group.  HWI counts 25 manufacturing sites and 20 distribution centers in the Americas, as well as the largest refractory industry research facility in North America. Serving virtually every major industry that requires refractory solutions to enhance production and protect assets, HWI is consistently recognized for its talented experts, industry firsts, and intensely driven excellence.

    To learn more about HWI, visit thinkhwi.com.

    About Calderys

    Calderys is a leading global provider for industries operating in high-temperature conditions with 2023 revenue at circa €1.6bn and over €220m of adjusted EBITDA. The Group specializes in thermal protection for industrial equipment with a wide range of refractory products and advanced solutions to enhance steel casting, metallurgical fluxes, and molding processes. With a presence in more than 30 countries and a strong footprint in the Americas through the brand HWI (HarbisonWalker International), Calderys’ international network of experts ensures an end-to-end offer with tailored services. Drawing on over 150 years of experience, Calderys supports its customers in their energy transition needs. Headquartered in Paris, France, the Group counts 5,800 employees and contractors, and 50 plants on five continents.

    To learn more about Calderys, visit calderys.com.

    About the Missouri Department of Economic Development

    The Missouri Department of Economic Development (DED) works to create an environment that encourages economic growth by supporting Missouri’s businesses and diverse industries, strengthening our communities, developing a talented and skilled workforce, and maintaining a high quality of life. As one team built around the customer and driven by data, DED aspires to be the best economic development department in the Midwest. Through its various initiatives, DED is helping create opportunities for Missourians to prosper.

    For the latest updates on DED’s current or future programs and initiatives, visit DED’s website.

    About the Missouri Works Program

    As the state’s number one incentive tool for expansion and retention, the Missouri Works Program helps businesses access capital through withholdings or tax credits to embark on facility expansions and create jobs. This program can also help businesses purchase equipment to maintain its facility in Missouri.

    MIL OSI USA News –

  • MIL-OSI Africa: US-Africa relations under Biden: a mismatch between talk and action

    Source: The Conversation – Africa – By Christopher Isike, Director, African Centre for the Study of the United States, University of Pretoria

    In his first year in office, US president Joe Biden committed to resetting US-Africa relations based on a doctrine of equal partnership.

    He sent his secretary of state, Antony Blinken, to Kenya, Côte d’Ivoire and Nigeria. The visit was used to outline the administration’s policy outlook towards Africa. It laid the ground for the official US-Africa policy commitment that Blinken launched the following year in South Africa.

    Since then, there have been high level engagements between the US and African countries to deepen ties. They included visits by top cabinet members of the administration: vice-president Kamala Harris, secretary of defence Lloyd Austin and treasury secretary Janet Yellen. First lady Jill Biden also came.

    Biden hosted a well attended US-Africa Leaders Summit in Washington DC in December 2022. Kenyan president William Ruto paid a state visit to the White House in May.

    Yet our view, which is based on years of studying and writing on US and Africa relations, is that the Biden administration has not fulfilled its commitment to resetting US-Africa relations based on an equal partnership. It hasn’t recognised Africa’s growing agency in international affairs.

    We argue that there has been a mismatch between the rhetoric and practice of an equal partnership. For example, African leaders or the African Union were not consulted about the agenda of the 2022 US-Africa Leaders Summit. This was also the case with the US’s Africa strategy.

    This reflects the traditional paternalistic relationship of the US with Africa.

    Read more: Joe Biden in Africa: US president has ignored the continent for his entire term — why he’s visiting Angola

    Biden is due to visit Angola in December – his only African visit as president. A much more encouraging message of equal partnership would have been delivered if the US-Africa Leaders Summit, for example, had been held at the African Union headquarters in Ethiopia. Biden would have then been able to engage with African leaders in the continent early in his term.

    A full diary of engagements

    There are a number of positive indicators of Biden’s commitment to reset relations with Africa.

    August 2022: The first tangible step was through the US Strategy Toward Sub-Saharan Africa. This presented a shift in emphasis from great power politics (vis-a-vis China and Russia in Africa) and Trump’s America First diplomacy, to one of mutual respect and partnership (at least on paper) under Biden.

    Priorities included fostering open societies, delivering democratic and security dividends, advancing pandemic recovery and economic opportunity, and supporting the climate agenda.

    December 2022: The US-Africa Leaders Summit in Washington DC was attended by 49 African leaders, three months after the release of the Africa strategy. The focus was on

    strengthening ties with African partners based on principles of mutual respect and shared interests and values.

    Biden pledged US$55 billion in investments until 2025 to advance goals that aligned with shared priorities. The US is said to have allocated 80% of said funds.

    The US used the summit to formally announce its support for the African Union’s membership of the G20. This was realised when the AU officially joined the G20 as a permanent member in 2023.

    November 2023: Biden hosted Angolan president João Lourenço at the White House on an official visit. They discussed cooperation on the economy, security, energy, transport, telecommunications, agriculture and outer space.

    May 2024: Kenyan president William Ruto’s state visit was the first by an African leader in more than 15 years.

    September 2024: US ambassador to the United Nations Linda Thomas-Greenfield announced US support for Africa getting two permanent seats on the UN security council.

    Finally, Biden’s visit to Angola, set for the first week in December would be the first by a US president since 2015.

    What’s gone wrong

    It’s possible to see serious flaws in the US approach towards Africa set against the expectation of an equal partnership.

    Firstly, the US has attempted to undermine African agency through its bid to pressure African countries to condemn Russia’s invasion of Ukraine. Many African countries chose non-alignment.

    Secondly, the US championing two seats for Africa on the security council looks commendable on the surface. But the lack of veto power perpetuates power imbalances between Africa and the current permanent security council members – the US, France, the UK, Russia and China.

    US vice-president Kamala Harris visited Zambian president Hakainde Hichilema in 2023. Salim Dawood/AFP via Getty Images.

    The question again is how equal the partnership is if Africa will be a junior member of the security council.

    Thirdly, there has been a lack of joint agenda setting. African countries have made no input into US-Africa strategy or the US-Africa Leaders Summit.

    Failing to consult African leaders, institutions and civil society on the continent’s own priorities reflects the same old practice of imposing priorities on African states. It looks like a continuation of the usual passing off of American national interests as African interests.

    Fourthly, there have been challenges in implementing what’s set out in the US Strategy Toward Sub-Saharan Africa. These have included inadequate resource allocation.

    Read more: US-Africa trade deal turns 25 next year: Agoa’s winners, losers and what should come next

    Fifth, the Biden administration has used the Africa Growth and Opportunity Act (Agoa) as diplomatic leverage over African countries. For example, in October 2023 it announced the removal of Uganda, Niger, Gabon and Central African Republic from the beneficiaries. Earlier, the administration removed Ethiopia, Guinea, Mali and Burkina Faso. These countries were removed from Agoa for not complying with US human rights and political demands.

    Between February and March 2024, the US Congress also considered the US-South Africa Bilateral Relations Bill, which risks South Africa’s exclusion from Agoa because of Pretoria’s position on the Israel/Palestine conflict.

    Lastly, the fact that Biden is only visiting Africa in the last days of his presidency suggests Africa is not a priority. The fact that only one African head of state has been afforded a state visit to Washington reinforces this thinking.

    If the US is serious about equal partnership, it mustn’t treat Africa as an afterthought. It must always consult African states in shaping policies that affect them and the continent.

    Ruth Kasanga, a postgraduate student in the Department of Political Sciences and Research Assistant at the African Centre for the Study of the United States, University of Pretoria, made contributions to this article.

    – US-Africa relations under Biden: a mismatch between talk and action
    – https://theconversation.com/us-africa-relations-under-biden-a-mismatch-between-talk-and-action-242307

    MIL OSI Africa –

  • MIL-OSI Security: Defense News: Deputy Under Secretary of the Navy for Intelligence and Security Visits NAVSCIATTS

    Source: United States Navy

    Minella, John Keast, U.S. Senate Armed Services Committee (SASC) staff director; Pat Thompson, Adam Barker, and Chris Vignes, members of the senator’s staff, received updates from NAVSCIATTS Cmdr. Robert LeClerc and members of U.S. Naval Special Warfare (NSW) Command’s staff regarding the direction of the command and its continued support to combatant commanders’ theater security cooperation priorities.

    During their visit to the Stennis Space Center, Minella and the SASC staff members also received a tour and command brief from Special Boat Team 22, NSW’s only riverine capability. The tour included a Special Operations Craft-Riverine demonstration and also M134 machine gun familiarization.

    NAVSCIATTS trains and educates strategic allied and partner security force professionals across the tactical, operational, and strategic spectrums; and serves as the U.S. Navy’s premier security force assistance training asset. More than 14,000 partners from 129 partner nations have trained with this historic command since 1963.

    MIL Security OSI –

  • MIL-OSI: Significant Technology Upgrades Fueling Strong Growth Opportunities for U.S. Commercial Drone Market

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Oct. 31, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The commercial drone industry is witnessing rapid growth and transforming various sectors such as agriculture, delivery and logistics, and energy among others. Advancements in drone technologies have led to increased demand and utilization in industries such as filming, emergency response, construction, and real estate. Additionally, drone software solution providers and manufacturers are continuously innovating and upgrading their offerings to cater to diverse market needs. As governments establish regulatory frameworks, the integration of drones into industries is expected to accelerate. This, in turn, is likely to create lucrative opportunities for market expansion over the forecast period. A report from Grand View Research projected that the U.S. commercial drone market size is expected to grow at a compound annual growth rate (CAGR) of 9.1% through 2030. The report said: “Furthermore, favorable legislations and rising use of commercial drones by authorities in the U.S. is expected to attract various industries to utilize drones for different processes. Similarly, government authorities across the region are constantly working on framing new regulations for the commercial applications of drones. This is attributed to increased focus on the adoption of commercial drones due to their economic potential, while prioritizing the safety and security of the country. This, in turn, is anticipated to drive the U.S. commercial drone market growth over the forecast period.” Active Tech Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), AgEagle Aerial Systems Inc. (NYSE: UAVS), EHang Holdings Limited (NASDAQ: EH), Ondas Holdings Inc. (NASDAQ: ONDS).

    Grand View Research continued: “Moreover, the U.S. is expected to witness a convergence of technologies, societal acceptance as well as a favorable regulatory landscape that is further expected to increase demand for commercial drones in various industries. The continuous development in drone technological capabilities and related software, their commercial applications, as well as the associated benefits, are anticipated to experience steady expansion as it offers added features and easy control to drone operators. Such type of developments by market players are expected to drive the U.S. commercial market growth. Additionally, the introduction of updated drone regulations has optimized the procedure for legally conducting commercial drone operations. The positive regulations are expected to attract entrepreneurs to use commercial drones. For instance, in the U.S., some of the significant changes in the Federal Aviation Administration (FAA) regulation’s Part 107 update includes the removal of “section 333 exception” and relaxed standards for pilots. This change in regulations that are required for commercial operations of drones, is anticipated to drive the market growth over the forecast period.”

    ZenaTech Inc.’s (NASDAQ:ZENA) ZenaDrone Completes the First Phase of an IQ Nano Inventory Management Trial for Multinational Auto Parts Customer – ZenaTech, a technology company specializing in AI (Artificial Intelligence) drone solutions and enterprise SaaS (Software-as-a-Service) solutions, today announced that its subsidiary, ZenaDrone, has successfully completed the first phase of drone testing and 3D mapping, and is beginning the next phase of production of a paid trial for a multinational auto parts manufacturer. This production phase consists of flying automatic and fully autonomous flights of the IQ Nano drone in an inventory management application.

    Testing took place over several months at ZenaDrone’s production facility in Sharjah, United Arab Emirates (UAE) to ensure the smooth operation of the inventory scanning application. The 3D mapping took place just recently at the customer’s site consisting of scanning and mapping the warehouse area to create a 3D map that automates the drone flight path and its operations while in production.

    View video showing the IQ Nano in test flight here.

    The production phase is set to begin imminently and will consist of the IQ Nano flying and reading product and component bar codes, collecting information for verification and integration with the customer’s inventory management and accounting systems.

    “We look forward to the production phase and concluding a successful trial, proving the viability of the IQ Nano and enabling us to deliver our product to our customer. A successful trial also opens the potential to win additional business with this customer and to verifiably demonstrate IQ Nano’s utility for the benefit of attracting additional market interest. The revolutionary use of an indoor drone for productivity and cost savings value can be implemented across hundreds of warehouse facilities, turning a week-long activity like counting inventory into a day,” said CEO Shaun Passley, Ph.D. – Get the full details by visiting: https://www.financialnewsmedia.com/news-zena/

    Additional Groundbreaking ZenaTech Inc. Developments this week include:

    ZenaTech Enters the Drone Sensor and Components Market Establishing a New Taiwan Subsidiary to Win More US Defense Contracts for Its AI Drones – ZenaTech also announced it will establish a new company in Taiwan to manufacture drone sensors and components for use in the drone products produced by its subsidiary ZenaDrone. The new company, named Spider Vision Sensors Ltd., will ensure ZenaDrone’s products are compliant with the US National Defense Authorization Act (NDAA), an important requirement for the company to win more business with the US Military.

    Spider Vision Sensors Ltd. will manufacture drone sensors, electronics, and components such LiDAR (Light Detection and Ranging), thermal, infrared, multi-spectral and hyper sensors, cameras, and PBCs (Printed Circuit Boards). Having in-house manufactured sensors and components will enable ZenaDrone to have a steady supply to fulfill customer orders and drone production needs at its Sharjah, UAE, and future Arizona-based drone manufacturing facilities. Taiwan was selected due to its size and skills as an electronics hub, and the availability of low-cost alternative components versus those from China. The new company is currently at the prototype stage, and the manufacturing facility is expected to be open in November.

    “Establishing a drone sensor and components manufacturer in Taiwan will help bring our products to market faster and removes dependencies on any Chinese made electronics. This will position us to win more US military contracts via achieving Green UAS (Uncrewed Arial Systems) and Blue UAS certifications as an approved supplier,” said CEO Shaun Passley, Ph.D. Read this full release at: https://finance.yahoo.com/news/zenatech-enters-drone-sensor-components-113000155.html

    Other recent developments in the technology industry include:

    Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a Technology Company in the Defense, National Security and Global Markets, recently announced that it will publish financial results for the third quarter 2024 after the close of market on Thursday, November 7th. Management will discuss the Company’s operations and financial results in a conference call beginning at 2:00 p.m. Pacific (5:00 p.m. Eastern).

    The call will be available at www.kratosdefense.com. Participants may register for the call using this Online Form. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN that can be used to access the call. For those who cannot access the live broadcast, a replay will be available on Kratos’ website.

    AgEagle Aerial Systems Inc. (NYSE: UAVS) a leading provider of best-in-class unmanned aerial systems (UAS), sensors and software solutions for customers worldwide in the commercial and government verticals, recently announced the appointment of Kevin Lowdermilk to the Company’s board of directors effective October 25, 2024.

    Company CEO, Bill Irby, commented, “It is a privilege to have Kevin join our board. His distinguished career and leadership in some of the most challenging technology sectors speak to his ability to drive success through vision, strategy and execution. We are grateful to work alongside him and leverage his expertise to support the future expansion of our global footprint in both government and commercial verticals, as we position the Company for long-term shareholder value.”

    EHang Holdings Limited (NASDAQ: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, recently announced it has entered into a strategic partnership with the Civil Aviation Flight University of China (the “CAFUC”). Building upon the CAFUC’s extensive expertise in civil aviation education, research, and talent development, the two parties will collaborate on cultivating skilled personnel, including operators and maintenance staffs for EHang’s pilotless electric Vertical Take-Off and Landing (“eVTOL”) aircraft, and their training for personnel licenses and operational supervision. This partnership aims to address the surging demand for talents in the low-altitude economy and foster the sustainable, high-quality development of the civil unmanned aerial vehicle (“UAV”) industry.

    During a briefing of the State Council Information Office of China on October 8, 2024, Chunlin Li, Vice Chairman of the National Development and Reform Commission (“NDRC”), highlighted the booming low-altitude economy and the rising demand for UAV operators. It is estimated that China faces a talent shortage of up to 1 million in this field. The NDRC will continue enhancing job creation efforts and driving the development of strategic emerging industries such as the low-altitude economy and future industries.

    Ondas Holdings Inc. (NASDAQ:ONDS), a leading provider of private industrial wireless networks and commercial drone and automated data solutions, recently announced that its wholly-owned subsidiary Ondas Autonomous Systems Inc. (“OAS”) has entered into an investment agreement with a private investor group, including Charles & Potomac Capital, LLC (“Charles & Potomac”) and Privet Ventures LLC (“Privet Ventures”), for an investment of $3.5 million in convertible notes of OAS. The investment in OAS will support OAS’ business expansion plan and deliver on the substantial growth opportunity in the defense, security, and critical infrastructure and industrial markets targeted by OAS’ Optimus and Iron Drone autonomous drone platforms.

    “We are pleased to secure this initial investment to support the exceptional growth opportunities created by our OAS team across Airobotics and American Robotics,” said Eric Brock, Chairman and CEO of Ondas Holdings and OAS. “Indeed, we have a responsibility to now expand operations and accelerate growth at OAS to meet the urgent needs for security and intelligence for our critical military, government and industrial customers. I am personally investing $1.0 million in this transaction, via Privet Ventures, signaling my firm belief in the substantial value we are creating for all stakeholders including the investors in OAS and Ondas Holdings.”

    About FN Media Group:

    At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

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    DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty nine hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

    Contact Information:

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    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI: KingsRock Advisors Announces Expanded Presence in the US with Additional Senior Hires and Transactions

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 31, 2024 (GLOBE NEWSWIRE) — KingsRock Advisors, LLC (“KingsRock”), an independent global advisory firm, announced today that it has expanded its presence in the US, with the opening of a new office in New York and the addition of senior bankers, including a new Managing Partner to accelerate the growth of KingsRock’s capital solutions and corporate finance business.

    We are pleased to welcome the following Senior Investment Bankers who have joined KingsRock recently, with additional hires pending:

    New York

    Paul Young, Managing Partner, former Salomon/Citi, MUFG and Apollo
    Tammer Fahmy, Managing Director, former Morgan Stanley, Silver Swan
    Paul Bitler, Managing Director, former Salomon/Citi
    Scott Dauer, Managing Director, former JP Morgan
    Wit Derby, Managing Director, former Bear Stearns, MUFG

    Gregory Raykher, Managing Director, former ORIX USA, Commerzbank
    Aidan Livingston, Senior Associate, former Deutsche Bank
    Huanjie Yuan, Senior Associate, former Deutsche Bank

    California

    Erich Griffin-Mauff, Managing Director, former Deutsche Bank
    Sud Subramanian, Managing Director, former JP Morgan, Deutsche Bank

    “We are excited to welcome our new Managing Partner, Managing Directors, and Senior Associates to KingsRock as we continue to expand the global reach of our capital solutions business. Our commitment to strengthening our partnership model will further enhance our ability to serve our credit, corporate and sponsor clients in the US and internationally. In the near term, we will share more details about our European expansion, and our growing partnerships beyond Europe to support clients worldwide,” said Hakan Wohlin, Founder & Managing partner and Louis Jaffe Co-Founder, Managing Partner.

    KingsRock is also pleased to announce the closing of several US transactions in 2024, including a significant programmatic sale leaseback of community and regional bank branches. KingsRock advised Mountainseed, an Atlanta based company serving the U.S. banking community with a range of services and solutions, and after running a competitive process, paired them with a globally established institutional investor. This investor committed up to $2 billion to support this strategy.

    About KingsRock:

    KingsRock Advisors, LLC headquartered at 900 Third Avenue, New York, NY 10022, is an independent global advisory firm, with securities offered by KingsRock Securities LLC, a FINRA member firm and SIPC, as well as KingsRock Advisors UK Ltd and KingsRock Advisors Europe AB, both wholly owned subsidiaries of KingsRock Advisors LLC.

    Founded in 2020, KingsRock comprises a team of over 20 professionals who advise on a wide range of private capital markets transactions including debt, hybrid capital, equity and M&A with structures ranging from plain vanilla to highly structured. The team collectively has worked on thousands of transactions across various industry sectors worldwide. Clients include private equity and private credit firms, corporations, financial institutions, government-related entities, and institutional investors.

    KingsRock Advisors offers the experience and global reach of a large firm, combined with the structural agility and creativity of a boutique. An independent advisory firm with a global network that provides unconflicted strategic and financial advisory services, along with innovative capital solutions and special situations. The firms’ bankers excel in complex transactions and deliver swift results often where large banks and traditional sources of financing do not have the ability to engage. KingsRock advisors operates across all major industry sectors and is supported by a global network of 115 independent Senior Advisors across 45 countries, who bring decades of deal making experience.

    Disclaimer:

    Securities offered by KingsRock Securities LLC, a FINRA, member firm and a member of SIPC., a wholly owned subsidiary of KingsRock Advisors LLC. • 900 Third Avenue, 10th Floor • New York, NY 10022.

    This message is provided for information purposes and does not constitute an invitation, solicitation or offer to buy or sell any securities or investment. Neither KingsRock Securities, LLC nor its affiliates provide accounting, tax or legal advice; such matters should be discussed with your advisors and/or counsel. 

    Info@kingsrock.com

    Download press release PDF here

    The MIL Network –

  • MIL-OSI Banking: BSTDB Partners with Evocabank to Strengthen SME Financing in Armenia

    Source: Black Sea Trade and Development Bank

    Press Release | 31-Oct-2024

    Facility tailored to strengthen small businesses and boost regional trade 

    The Black Sea Trade and Development Bank (BSTDB) has initiated a new partnership in Armenia by providing USD 10 million to Evocabank. With USD 9 million of the loan dedicated to financing small and medium-sized enterprises (SMEs) and USD 1 million for trade finance operations, the BSTDB facility is specifically designed to address the capital expenditure and working capital needs of Armenian SMEs, including those engaged in trade with other countries in the Black Sea region. Evocabank will utilize these funds to support domestic SMEs, helping them deliver their investment programmess, expand into new markets, and strengthen their competitiveness and export capabilities.

    As a new partner for BSTDB in Armenia, Evocabank’s advanced digital channels and extensive branch network, will play a crucial role in delivering this support to SMEs across Armenia. This collaboration opens new opportunities for Armenian companies to engage in cross-border trade and foster stronger economic ties within the region, in line with BSTDB’s mandate to promote intra-regional cooperation.

    Upon signing the loan agreement, Dr. Serhat Köksal, BSTDB President said: “Supporting the development of the SME sector is a core strategic priority for BSTDB, not just in Armenia but across all our member countries. Small and medium-sized enterprises are the backbone of any economy, and in Armenia, they play a crucial role in driving growth, innovation, and employment.  The funds we are providing will support these businesses in enhancing their operations and building resilience, ultimately contributing to the overall development and sustainable growth of the country’s economy.”

    Karen Yeghiazaryan, Chairman of the Management Board of Evocabank, said: “We are excited to announce a transformative partnership with The Black Sea Trade and Development Bank, aimed at boosting Armenia’s micro, small, and medium-sized enterprise sector. This collaboration marks a significant milestone, with BSTDB providing a substantial investment of USD 10 mln to Evocabank. Of this, USD 9 mln will be directed to empowering SMEs, while USD 1 mln will facilitate trade finance operations. This initiative is tailored to address the challenges faced by Armenian SMEs, ensuring they have the necessary means for growth and innovation. By supporting enterprises involved in trade within the Black Sea region, we are not only enhancing their operational capacity but also fostering a more robust and competitive business landscape. At Evocabank, we are committed to leveraging these funds to help local SMEs realize their investment goals, expand into new markets, and enhance their competitiveness and export potential.”

    Founded in 1990, Evocabank is the first registered commercial bank in Armenia with over 34 years of experience in the banking market. Headquartered in Yerevan, Evocabank provides inclusive financial services to individuals, MSMEs, and larger businesses through its extensive network in Yerevan and regions. The bank is aimed at delivering financial services with extensive application of the latest technologies in a fast, simple and convenient way, operating in a mobile- first format. Focused on innovative digital approach Evocabank is one of the fastest growing banks in Armenia. The bank has received a number of international awards including “The Best SME Bank of Armenia” and “The Best Digital Bank of Armenia” awards by Global Finance Magazine. More information at: www.evoca.am

    The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.

     

    Contact:

    Haroula Christodoulou

    : @BSTDB

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: FMQs: Greens call on SNP to reverse cuts to climate budgets and free school meals

    Source: Scottish Greens

    31 Oct 2024 Climate Climate Action

    The Scottish Government must reverse the cuts it made to key budgets.

    More in Climate

    The First Minister must use any new funding from Westminster to reverse the damaging cuts that the Scottish Government has made to climate and nature budgets, says Scottish Green Co-leader Lorna Slater.

    Speaking at First Minister’s Questions, Ms Slater underlined the importance of nature restoration and walking, wheeling and cycling infrastructure in hitting Scotland’s climate targets.

    In her first question, Ms Slater said:

    “Yesterday the UK Government presented a budget that they claim will put £1.5bn back into the Scottish Government’s budget for this year. 

    “This money should ensure that some of the most damaging cuts announced by the Scottish Government earlier this year should not now need to go ahead. 

    “Spending on the climate and nature emergencies is essential to ensure our planet has a liveable future. Whilst the Scottish Greens were in government, climate and nature spending reached record levels.

    “Will the First Minister commit to using the additional funding announced yesterday for this financial year to restore the funding cuts to the Nature Restoration Fund and active travel budgets, and does this mean that the Scottish Government no longer needs to use up all of the ScotWind funding which was supposed to be invested in our Green future?”

    Following an answer from the First Minister, in which he did not commit to reversing the vast in-year cuts that have been made, Ms Slater called for the First Minister to halt his recent U-turn on rolling out universal free school meals for all primary school pupils.

    Ms Slater said:

    “That’s very disappointing to hear about this year, I’ll ask the First Minister about next year.

    “One of our proudest moments for the Scottish Greens during our time in Government was rolling out free school meals for all children in primary 4 and 5, because we know it’s a simple and effective way to address the impacts of child poverty and make sure every child has the best chance at school.

    “We were on course to expand that to every child in primary school by the end of this session of Parliament, until the Scottish Government put in an indefinite delay on the rollout in this year’s programme for Government. 

    “Given the predicted £3.4bn due to be added to next year’s Scottish Budget, will the First Minister reinstate the promise to deliver free school meals for the remaining pupils in primary 6 and 7 by 2026, as endorsed by this Parliament just a few weeks ago?”

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Dmitry Chernyshenko held meetings with Russian teachers and youth of Uzbekistan in Tashkent

    Translation. Region: Russian Federation –

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

    During his working visit to Uzbekistan, Dmitry Chernyshenko talked with teachers who are participants in projects of the Russian Ministry of Education. With the Minister of Education Sergey Kravtsov and the head of the Department of Social Development of the Administration of the President of the Republic of Uzbekistan Odil Abdurakhmanov

    October 31, 2024

    Dmitry Chernyshenko at a meeting with participants of youth projects and programs in Uzbekistan, implemented by the Russian Federation

    October 31, 2024

    Dmitry Chernyshenko at a meeting with participants of youth projects and programs in Uzbekistan, implemented by the Russian Federation

    October 31, 2024

    greeted the participants of the international motor rally of the project “The Path of the Future Games Trophy 2.0” and gave the start to the Tashkent – Jizzakh stage

    October 31, 2024

    Dmitry Chernyshenko greeted the participants of the international motor rally of the project “The Path of the Future Games Trophy 2.0” and gave the start to the Tashkent – Jizzakh stage

    October 31, 2024

    Previous news Next news

    Dmitry Chernyshenko, as part of a working visit to Uzbekistan, talked with teachers who are participants in projects of the Russian Ministry of Education. With the Minister of Education Sergey Kravtsov and the head of the Department of Social Development of the Administration of the President of the Republic of Uzbekistan Odil Abdurakhmanov

    During his working visit to Uzbekistan, Deputy Prime Minister of Russia Dmitry Chernyshenko spoke with teachers participating in humanitarian projects implemented by the Russian Ministry of Education: “Russian Teacher Abroad”, “Class!” (“Zur!”) and “Baby” (“Mittivoi”).

    The Deputy Prime Minister emphasized the importance of the work of Russian teachers, who make a significant contribution to the development of bilateral relations between Uzbekistan and Russia.

    “The project “Russian Teacher Abroad” is developing in almost 30 countries. Uzbekistan is one of the leaders in the number of Russian teachers, which emphasizes the importance of bilateral cooperation in the field of education between our countries and the corresponding attitude of our Presidents to this. I know that you closely interact with your Uzbek colleagues and introduce advanced educational technologies here. It is important to build a continuous educational trajectory between specialists from Uzbekistan and Russian business,” the Deputy Prime Minister emphasized.

    Dmitry Chernyshenko thanked the teachers for their dedicated work and promotion of the Russian language and culture in the republic.

    “We are doing a lot of work within the framework of the “Class!” project. Teachers from the Russian Federation undergo appropriate training and advanced training at the A.I. Herzen Russian State Pedagogical University in St. Petersburg. Then they come to the Republic of Uzbekistan and teach Russian, exchanging experiences with local teachers,”– noted the Minister of Education of Russia Sergei Kravtsov.

    The head of the Russian Ministry of Education added that the Russian side is also ready to provide methodological assistance so that the training of in-demand specialists here is carried out at a high level.

    During the event, participants also discussed the Russian federal project “Professionalism” and textbooks on Russian as a foreign language.

    At a meeting with participants in youth projects and programs implemented by the Russian Federation, the Deputy Prime Minister noted the significance and legacy of the World Youth Festival and discussed strengthening international youth relations between Uzbekistan and Russia.

    The topic of projects and initiatives that are planned to be implemented within the framework of the 80th anniversary of Victory in the Great Patriotic War was separately touched upon.

    In addition, they discussed ways to increase young people’s interest in science and issues of media literacy.

    “You know that our country pays a lot of attention to the international youth agenda. Some of you personally took part in the World Youth Festival, which took place in the federal territory of Sirius. When organizing such an event, it was very important for us that young people from all over the world, including from our fraternal Republic of Uzbekistan, come, look at the created infrastructure and participate in the events,” said Dmitry Chernyshenko.

    He also noted the importance of Uzbekistan’s support for phygital sports and the Future Games.

    “The delegation of Uzbekistan was one of the largest at the World Youth Festival. More than 300 young people from all corners of our country participated in the festival, had the opportunity to find new friends to learn about the experience of countries around the world, and also to demonstrate the unique experience of Uzbekistan in working with youth,” emphasized the moderator of the event, head of the Volunteer Association of Uzbekistan Shirin Abidova.

    During the meeting, Dmitry Chernyshenko awarded the commemorative medal “World Youth Festival 2024” to representatives of Uzbekistan and Russia who made a great contribution to the preparation and holding of this large-scale event. The medals were awarded in accordance with the order of Russian President Vladimir Putin.

    The meeting was also attended by Ambassador Extraordinary and Plenipotentiary of the Russian Federation to the Republic of Uzbekistan Oleg Malginov, Deputy Head of Rosmolodezh Denis Ashirov, Head of the Representative Office of Rossotrudnichestvo in the Republic of Uzbekistan Irina Staroselskaya, Head of the Department of Social Development of the Administration of the President of the Republic of Uzbekistan Odil Abdurakhmanov, First Deputy Director of the Agency for Youth Affairs of the Republic of Uzbekistan Dilnozahon Kattakhanova.

    “Rosmolodezh is pursuing a course to strengthen international youth relations. It is important for us to help young people from Russia and other countries find common ground in various spheres of activity. Joint projects and programs are a contribution to the development of modern society and the construction of a happy future,” emphasized State Secretary – Deputy Head of the Federal Agency for Youth Affairs (Rosmolodezh) Denis Ashirov.

    The Deputy Prime Minister of Russia also greeted the participants of the international motor rally of the Future Games Trophy Route 2.0 project and gave the start to the Tashkent – Jizzakh stage.

    The Deputy Prime Minister recalled that the run started in October at the Russia – Sports Power forum in Ufa. It will pass through the territory of eight states – participants of the global phygital movement.

    “Phygital and Future Games are a new competition format that was invented in Russia on the instructions of President Vladimir Putin and became known to the entire world. We know the intention of your head of state and the people of Uzbekistan to also be nominated to host the Future Games in your country. I thank the leadership of the republic and everyone who works with young people for their caring attitude to this format, which allows new stars to develop, who show themselves well both in computer games and in real sports,” said Dmitry Chernyshenko.

    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 USA: Remarks by President  Biden and President Nikos Christodoulides of the Republic of Cyprus Before Bilateral  Meeting

    US Senate News:

    Source: The White House
    Oval Office
    12:06 P.M. EDT
    PRESIDENT BIDEN:  Well, Mr. President, welcome.  Welcome to the Oval Office.
    PRESIDENT CHRISTODOULIDES:  Thank you very much, Mr. President.
    PRESIDENT BIDEN:  Good to see you.  Good to see you.
    It was 10 years ago when I visited Cyprus last, as vice president of the United States.  And — and, as I said, there is no limit to what our nations can achieve if we work together. 
    PRESIDENT CHRISTODOULIDES:  Exactly.
    PRESIDENT BIDEN:  And we’ve been doing that for a long time. 
    But I think that’s even more true today.  Today, we stood against Russia’s vicious onslaught against Ukraine.  We launched a strategic dialogue to increase cooperation across a range of issues, from energy security to artificial intelligence.  And we surged humanitarian aid, delivering 8,000 metric tons to Gaza. 
    So, Mr. President, Cyprus made all this possible.  I want thank you for your leadership in making that happen. 
    And this year also marks the 50th anniversary of the artificial division of the island.  I remember it well.  It was my first year as a U.S. senator.  I remember sitting with (inaudible) — anyway, it’s — it’s a sad day.
    PRESIDENT CHRISTODOULIDES:  (Inaudible.)
    PRESIDENT BIDEN:  But as a — it was a sad occasion, but I remain optimistic about the possibility that a u- — reunited Cyprus and bizonal, bicommunal federation is possible.  And the United States ready — stands ready to provide any support we can toward that goal. 
    Mr. President, thank you, again, for being here, and I look forward to our conversation.
    The floor is yours.
    PRESIDENT CHRISTODOULIDES:  Mr. President, it’s a great honor to be at the White House.  Thank you very much for your invitation.
    As you very well know, our countries have been — have built a truly strategic partnership and — and our relations — our relations are at a strategic and historical high.
    At the bilateral level, we are working closely on defense and security, on energy, law enforcement, technology innovation.  There is a top potential, and there is a clear and strong political will from both countries, following also the first strategic dialogue that took place in Cyprus last week to further enhance our partnership.
    Mr. President, at — at the regional level, Cyprus is a predictable and reliable partner of the United States in a region of great geopolitical importance.  We are the member state of the European Union in the region.  We have excellent relations with all of our neighbors.  And we’re working closely with the United States and other partners to face the current challenges, to send much-needed humanitarian assistance to Gaza, to evacuate third-country nationals from — from the region.
    With regards to — to Ukraine, Cyprus stands on the right side of history.  And, Mr. President, it could have been different, having in mind that my country is under Turkish occupation the last 50 years.  
    And, Mr. President, I count on your support and the support of the United States to resume negotiations and find a solution of the Cyprus problem — solution in line with the U.N. Security Council resolution, solution that is based on our common values and principles: democracy and respect of human rights.
    So, Mr. President, once again, thank you very much.  I’m looking forward to our discussions.  Thank you very much.
    PRESIDENT BIDEN:  I’m looking forward to it as well.  You’re a good friend.  (Inaudible.)
    PRESIDENT CHRISTODOULIDES:  Thanks.  Thank a lot.
    12:20 P.M. EDT

    MIL OSI USA News –

  • MIL-OSI USA: A Proclamation on National Diabetes Month,  2024

    US Senate News:

    Source: The White House
         Over 38 million Americans, or 1 in every 10 people, have diabetes.  During National Diabetes Month, we raise awareness about this chronic condition and promote the strategies that can prevent and manage it.  We recommit to making treatment more affordable and accessible.  And we strengthen our resolve to find cures.
         Diabetes takes a physical and financial toll on Americans nationwide, and many Americans must decide between paying for treatments and putting food on the table.  Insulin — a life-saving drug for some people with diabetes — can cost Americans upwards of $300, even though it costs drug companies as little as $10 per vial to make.  Some Americans end up rationing their medication, which can have serious effects on their health and well-being.  While Big Pharma makes record profits, Americans pay exorbitant prices — higher than anywhere else in the world.  It is unacceptable.  No one should have to lie awake at night wondering if they can afford their medical bills or their insulin prescription.
         Since I came into office, I have worked to ensure that health care is a right in this country, not a privilege — and that meant lowering the cost of insulin.  That is why my Administration took on Big Pharma and won.  I signed the Inflation Reduction Act, which capped the cost of insulin at $35 for people on Medicare.  And the largest manufacturer of insulin in the United States answered my call to lower the cost to $35 per month for everyone.  My Inflation Reduction Act also empowered Medicare to negotiate lower drug prices, lowering the costs of medications used to treat common diseases, including drugs that treat diabetes.  Further, that law requires drug companies that raise prices faster than inflation to pay Medicare back the difference, saving seniors up to $618 per dose of medication.  Moreover, beginning in 2025, the Inflation Reduction Act will cap total out-of-pocket drug costs at $2,000 per year for people on Medicare.  There is still more to do, but this will help ensure Americans — including those with diabetes — have the dignity, security, and peace of mind they deserve.
         My Administration is also working to drive new breakthroughs in preventing, detecting, and treating diabetes while ensuring that Americans have the resources they need to lead healthy lifestyles.  I secured $4 billion for the Advanced Research Projects Agency for Health to make strides in transforming the prevention, detection, and treatment of deadly diseases like diabetes.  We have seen enormous research advances in recent years to develop promising new diabetes drugs, including the first cell therapy for adults with Type 1 diabetes and the first new oral medication for children with Type 2 diabetes in decades.  At the same time, we recognize that the impact of Type 2 diabetes can be greatly decreased through improvements in nutrition and physical activity.  My Administration announced new standards for school meals to improve their nutritional value and give schools the option to require locally produced, unprocessed menu ingredients.  We also held the first White House Conference on Hunger, Nutrition, and Health in over 50 years, bringing together advocates, health care providers, food companies, and officials from every level of government.  As a part of that conference, we launched the White House Challenge to End Hunger and Build Healthy Communities.  In total, we have secured more than $10 billion in bold, new commitments from the public and private sectors to end hunger and reduce diet-related diseases like diabetes.
         My Administration also recognizes that tens of millions of Americans have prediabetes and are at risk of developing Type 2 diabetes within 5 years.  Diabetes increases one’s risk of heart attack, cancer, stroke, blindness, kidney failure, and the loss of toes, feet, or legs.  Many of these cases are preventable, and the risk factors are often related to poor nutrition and inadequate physical activity.  To learn more about the risks and how to address prediabetes and help prevent Type 2 diabetes, visit the Centers for Disease Control and Prevention National Diabetes Prevention Program:  cdc.gov/diabetes-prevention. 
         During National Diabetes Month, we celebrate the resilience and courage of all those affected by diabetes.  We thank the dedicated medical professionals, loved ones, and advocates who support this community.  And we recommit to working around the clock to improve care for those affected and get us closer to finding cures.
         NOW, THEREFORE, I, JOSEPH R. BIDEN JR., President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim November 2024 as National Diabetes Month.  I call upon all Americans, school systems, government agencies, nonprofit organizations, health care providers, research institutions, and other interested groups to join in activities that raise diabetes awareness and help prevent, treat, and manage this disease.
         IN WITNESS WHEREOF, I have hereunto set my hand this thirty-first day of October, in the year of our Lord two thousand twenty-four, and of the Independence of the United States of America the two hundred and forty-ninth.
                                 JOSEPH R. BIDEN JR.

    MIL OSI USA News –

  • MIL-OSI USA: A Proclamation on National Family Caregivers Month,  2024

    US Senate News:

    Source: The White House
         Family caregivers are the backbone of our Nation, making tremendous sacrifices to be there for the people who need and cherish them most.  This month, we honor their selfless love and courage, and we recommit to getting them the support they deserve.  They should know their country has their backs.
         For far too long, the cost of care in this country has been too high.  Today, millions of Americans are part of the so-called sandwich generation, caring for both young kids and aging parents at the same time.  Too many families struggle to afford help, spending their own retirement savings to pay for the care of their loved ones or quitting their own jobs to stay home and provide it themselves.  Most often, it is women who bear the brunt of care work.  And the pay for professional care workers is far too low.    
         In the United States of America, no one should have to choose between caring for a parent who raised them, a child who depends on them, and a paycheck that they need.  That is why I signed the American Rescue Plan, which made the biggest investment in child care ever.  It delivered historic support to over 225,000 child care programs serving as many as 10 million children across the country, helping keep their doors open for millions of working families who rely on them.  It expanded the Child Tax Credit, which helped cut the child poverty rate nearly in half.  Overall, my Administration increased funding for child care by nearly 50 percent while helping States expand and strengthen programs that enable low-income families afford child care as well.  We also required companies seeking significant Federal funding from our CHIPS and Science Act to submit a plan on how they will help employees access affordable child care.  
         We have finalized new rules that strengthen staffing standards in nursing homes to ensure residents can age with dignity.  We have made sure that home care workers get a bigger share of Medicaid payments so more Americans can keep living in their own communities and homes.  And we have worked to increase Medicare resources to promote equitable access to care and caregiver training.  
         But we have to do more to ease the load on America’s 50 million unpaid family caregivers, who too often still shoulder the burden of care all alone.  Through the American Rescue Plan, we devoted $145 million to the National Family Caregiver Support Program, which delivers counseling, training, and short-term relief to family caregivers and other informal care providers.  Furthermore, my Administration released the first-ever National Strategy to Support Family Caregivers, which includes new initiatives that directly support family caregivers and strengthen existing programs.  And I signed a historic Executive Order, representing the most comprehensive set of administrative actions ever to increase access to high-quality child care and long-term care and support for caregivers, including military and veteran caregivers.  The Executive Order is working to make sure caregivers get the support they deserve while building the supply of high-quality care so families have options.  My Administration is continuing to work toward lowering the cost of care across the country and providing stronger paid family and medical leave. 
         How we treat our young children, aging parents, and loved ones and how we value those who care for them are fundamental to who we are as a Nation.  During National Family Caregivers Month, we pledge to get every family caregiver in this country the same kind of relief, respect, and support that they give so selflessly to others.
         NOW, THEREFORE, I, JOSEPH R. BIDEN JR., President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim November 2024 as National Family Caregivers Month.  I encourage all Americans to reach out to those who provide care for our Nation’s family members, friends, and neighbors in need to recognize, honor, and thank them.
         IN WITNESS WHEREOF, I have hereunto set my hand this thirty-first day of October, in the year of our Lord two thousand twenty-four, and of the Independence of the United States of America the two hundred and forty-ninth.
                                 JOSEPH R. BIDEN JR.

    MIL OSI USA News –

  • MIL-OSI Canada: Premier’s statement on Bandi Chhor Divas

    Source: Government of Canada regional news

    Media Contacts

    Office of the Premier

    Media Relations
    premier.media@gov.bc.ca

    https://news.gov.bc.ca/31762

    MIL OSI Canada News –