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  • MIL-OSI Russia: “Science is international and aimed at the benefit of all mankind”

    Translation. Region: Russian Federation –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    Sharing research results

    This year, our International Center for Decision Analysis and Choice at the National Research University Higher School of Economics celebrates its 15th anniversary. This HSE division carries out work that is at the forefront of scientific research in various fields, and we also interact a lot with various universities around the world. And almost every year we hold schools such as the autumn school “Advances in Decision Analysis”. Its goal is for scientists to learn what is being done in science around the world. Science is not Russian or American, English, science is international, it is aimed at the benefit of all humanity. We must constantly exchange research results. And within the framework of the school, we receive the very latest scientific work of the highest level. This is of great importance for our students and teachers. Lagging behind is dangerous, and our school exists to prevent it.

    Comfortable format

    The online format is convenient for our school. During Covid, we mastered this technology because people could not travel. In the current political situation, there are also restrictions, but the respect for our school is very high, so many foreign colleagues agreed to give presentations online. As part of the autumn school, we made several broadcasts on the Internet, which were joined by participants from various universities in Russia and around the world.

    List of speakers

    The first speaker was Professor Arunava Sen, one of India’s leading scientists who works at the Indian Statistical Institute. Some schools in India have an excess supply of teachers, while others have a shortage, and the speaker explained how to effectively reassign teachers, taking into account their wishes and the needs of the schools. Then Ahmed Alkan from Sabanci University, Turkey, one of the largest specialists in the field of generalized matchings, spoke – also completely new work related to representing these matchings in the form of lattices. The next speaker, Mario Guarracino from the University of Cassino, Italy, gave an amazing overview of neural network analysis methods and how neural networks operate. Eric Maskin, an employee of our center and a Nobel laureate, also spoke; I was delighted by his work on classical voting models. But he made very significant progress here. Alexey Myachin, also our employee, gave a report on completely new models in pattern analysis. This is a direction that has been developing for us for 20 years. Very high-quality new results have been obtained. The next talk is by Michel Grabisch from the Panthéon-Sorbonne University in Paris, who spoke about the possibility of generating linear orders. Then Vladimir Makarenkov, head of the bioinformatics department at the University of Quebec in Montreal, Canada, spoke about bioinformatics and practical applications. One of the world’s leading experts in the field of data analysis, Boris Mirkin, also spoke, who spoke about new models of K-means algorithms for data analysis. Colleagues from Sberbank Dzhangir Dzhangirov and Andrey Vashevnik spoke about large linguistic models and new visions for risk assessments. 

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

    MIL OSI Russia News –

  • MIL-OSI Russia: To Raisa Ryazanova, People’s Artist of Russia

    Translation. Region: Russian Federation –

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

    Mikhail Mishustin congratulated the theater, film and dubbing actress on her anniversary.

    The telegram, in particular, notes:

    “You have captivated the audience with your skill, sincerity, spiritual beauty and a whole series of memorable, diverse images. Brilliantly played roles in films by famous directors have brought you well-deserved recognition, the love of numerous fans and popularity.

    I wish you good health and prosperity.”

    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 New Zealand: Local News – Porirua City Council agrees future direction for water services

    Source: Porirua City Council

    Porirua City Council agreed today to work with other councils in the region to create a joint water services delivery and implementation plan.
    Nine councils in the Wellington region, along with Horowhenua District Council, have been working together in response to the Government’s Local Water Done Well policy, and received a report earlier this month outlining a recommended regional approach to water services delivery.
    All councils are required to submit water service delivery plans to the Government by September 2025. To achieve this councils may work alone or with other councils and by the end of this year need to decide on their approach.
    Most of the councils in the region are expected to make their decisions on options in late October, with Horowhenua and Kapiti Coast District Councils making decisions in late November. Carterton District Council resolved yesterday to exit the Wellington regional approach, instead opting for a local model.
    At a full council meeting today, Porirua City Council considered the advantages and disadvantages of a range of options, and agreed that a regional approach was the best way forward.
    Under the regional model, Porirua City Council would be a shared owner, with other councils, of a limited liability company that delivers the full breadth of water services functions to the community. All assets, revenue and debt would transfer from Council ownership to the new company.
    The company would provide all services directly to water customers, and bill directly for water usage and services provided. Those charges will be determined by the board of the new water company, with the oversight of an economic regulator. It will need to provide a high level of local service delivery, including good compliance, response times, affordability and supply.
    Porirua Mayor Anita Baker said the regional approach had a number of benefits.
    “This option will create an organisation with the scale needed to best manage the current and future water challenges in the region.
    “Our drinking water, wastewater and stormwater services all need fixing and this will take an ongoing, joint effort. More than 20 per cent of the region’s water assets are worn out and need to be replaced, which means a significant risk of major service failures.
    “Working together gives us the best chance to address these issues, and financial modelling so far shows that this is likely the most effective solution.
    “This is a long game, and one the region can best tackle by working together,” Mayor Baker said.
    Once the final number of councils opting to continue with the regional approach is known, the next steps of modelling will be done, and Council will be asked to decide on a final preferred option in March 2025. Consultation with the community will then take place, with a final Water Services Delivery Plan and Implementation Plan to be signed off in June. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Weather News – Trick or Treat for Halloween? – MetService

    Source: MetService

    Covering period of Thursday 31 October – Monday 4 November – Looks like we are in for a boo-tiful evening for the eastern parts of the country, and trick-or-treaters heading out this evening will enjoy the best of the weather. Clear skies and dry weather are set to keep things spooktacular from the Bay of Plenty, round the east coast and down to Christchurch. Western areas will be keeping hold of more cloud into the evening while rain runs into Southland and Stewart Island.

    A series of weather fronts move northwards up the South Island today and tomorrow, and a Heavy Rain Watch has been issued for the Paparoa Range as well as the ranges of Buller from 11am – 11pm on Friday. Mostly dry weather will be seen over on the east of the South Island on Thursday, but a southerly change on Friday afternoon brings a risk of heavy showers and thunderstorms about Dunedin and North Otago.

    The first of the mix of fronts moving up the South Island reaches the lower North Island Friday afternoon, squeezing northwesterly winds through Cook Strait. A gusty end to Friday is in store about the Marlborough Sounds and Wellington, with winds reaching 90 km/h at times.

    MetService meteorologist Clare O’Connor advises, “It’s a wet Saturday for both the North and South Islands, the fronts which brought rain to the South continue over the North on Saturday, while showery southwesterly winds continue in the South Island. These winds come with a bit of a bite and will arrive about the lower North Island Saturday evening.”

    Temperatures could dip to 0°C about Central Otago as skies mostly clear overnight into Sunday, but the showers and southerly winds will be especially felt about the eastern North Island. Daytime temperatures in the Hawke’s Bay drop from an expected maximum of 26°C on Saturday to a cooler 16°C on Sunday. The treat of nicer weather to end the weekend may be a little too late for Halloween but is likely to be a welcome reprieve.

    Participants in the Auckland Marathon on Sunday can expect a cool and dry course; while southwesterly winds will be apparent crossing the Auckland Harbour Bridge, they won’t take away from the unique experience of crossing the harbour on foot.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Consumer NZ urges government to get domestic aviation market study off the ground

    Source: Consumer NZ

    Consumer NZ has written to the Minister of Commerce and Consumer Affairs, urging him to direct the Commerce Commission to undertake a market study into New Zealand’s aviation sector.

    Jon Duffy, Consumer NZ CEO, says in sectors where any single company holds a significantly high market share, such as Air New Zealand, which holds an 86% share, there is a risk competition isn’t working as it should to keep prices reasonable.

    In particular, the advocacy organisation is concerned by the findings of its own research into Air New Zealand’s use of dynamic pricing.

    Duffy says a market study would determine to what extent Air New Zealand may be taking advantage of its virtual monopoly.

    “For many New Zealanders, there’s Air New Zealand or nothing – and high fares are affecting our regions.

    “Our research has identified numerous red flags affecting competition in the sector that must be put under the microscope to assure consumers the cost of flying in New Zealand is truly fair.”

    In addition to the limited choice New Zealanders have when it comes to air travel, Consumer is concerned high barriers to entry reduce the likelihood that other carriers will enter the market to compete with Air New Zealand.

    Duffy also points out the government is a 51% shareholder in Air New Zealand but believes that there is no one holding the national carrier to account.

    “We understand Air New Zealand is facing its own set of challenges, like constrained fleet availability and increasing costs in some areas.

    “Our concern remains – New Zealand has the most concentrated domestic aviation market in the world¹, so when Air New Zealand says its pricing is fair, we are forced to take their word for it. A market study would tell us whether we can rely on what we’re being told.

    “A Commerce Commission market study won’t solve anti-competitive behaviour, but getting information about how competition is working in the sector will highlight what interventions may be necessary and provide confidence New Zealanders aren’t being ripped off.”

    Notes

    ¹ Sabre Market Intelligence for the 2023 calendar year for domestic markets with more than 5 million seats operated by airlines. New Zealand has the most concentrated domestic aviation market in the world with one airline holding 86% of seats in the market.

    About Consumer

    Consumer NZ is an independent, non-profit organisation dedicated to championing and empowering consumers in Aotearoa. Consumer NZ has a reputation for being fair, impartial and providing comprehensive consumer information and advice.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Transport – Economist Cam Bagrie appointed chairman of the board for Transporting New Zealand

    Source: Ia Ara Aotearoa Transporting New Zealand

    Leading economist Cam Bagrie has been appointed as an independent director, board member and Chair of peak road freight organisation Ia Ara Aotearoa Transporting New Zealand.
    Mr Bagrie is the former chief economist at ANZ and has held positions at National Bank, Treasury, and Statistics New Zealand. He is currently an independent chair of the governance committee of the NZ Apple and Pear Inc and a board member of Life Education Trust.
    Transporting New Zealand CEO Dom Kalasih says Mr Bagrie will bring “additional skills, experience and knowledge to the Board and to our leadership”.
    The appointment was made by the organisation’s new board this week, which also formally confirmed Dom Kalasih as CEO, a role he’s held in an interim capacity for 18 months.
    Kalasih said on top of Cam Bagrie’s appointment, the next 12 months look very exciting for the organisation.
    “I see the effectiveness of sector groups such as livestock, ports and logging really taking off and more relationships with industry suppliers being formed.
    “For Transporting New Zealand, continuing to improve engagement across our membership is vital. We are committed to holding more quality events and leading high-level policy advocacy to benefit the road freight industry.”
    About Ia Ara Aotearoa Transporting New Zealand
    Ia Ara Aotearoa Transporting New Zealand is a national membership association representing the road freight transport industry. Their members operate urban, rural and inter- regional commercial freight transport services throughout the country. 
    Road is the dominant freight mode in New Zealand, transporting 92.8% of the freight task on a tonnage basis, and 75.1% on a tonne-km basis. The road freight transport industry employs over 34,000 people across more than 4,700 businesses, with an annual turnover of $6 billion.

    MIL OSI New Zealand News –

  • MIL-OSI: Financial results for Q1-Q3 2024

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 66
     

    Profit after tax of DKK 1,779 million and return on equity of 18.0%

    The financial statements for the first nine months of 2024 show a highly satisfactory net profit of DKK 1,779 million and a return on equity after tax of 18.0%. Overall, core income was 2% higher than in the first nine months of 2023 – supported both by higher net interest income and net fee income. Compared with the same period of last year, we recorded a decent increase in business volume, including a highly satisfactory increase in assets under management of DKK 11 billion, corresponding to 17%, as well as satisfactory lending growth of DKK 3.5 billion, or 6%.

    For the sixth consecutive quarter, persistently strong credit quality among the Bank’s retail and business customers enabled us to make a reversal of impairment charges. As a result, the total positive profit impact from impairment charges for the first nine months of 2024 was DKK 38 million. Another result of our very robust retail and business customers is that we now expect a full-year profit impact from loan impairment charges etc. of around DKK 0 million. Against this background, on 23 October 2024 we upgraded our full-year guidance for profit after tax to a range of DKK 2,100 – 2,300 million,” says Lasse Nyby, CEO.

    Please direct any questions regarding this release to Lasse Nyby, Chief Executive Officer, on tel. +45 9634 4011, or Rune Brandt Børglum, Head of Investor Relations, on tel. + 45 9634 4236.

    Rune Brandt Børglum
    Head of Investor Relations

    Attachments

    The MIL Network –

  • MIL-OSI Economics: Recommendations on merger control

    Source: International Chamber of Commerce

    Headline: Recommendations on merger control

    Competitive markets

    Download the recommendations

    To enhance compliance and proper enforcement of merger control regulations, ICC proposes recommendations and underscores the importance of companies, lawyers and antitrust agencies working side by side to pursue shared goals.

    Why are ICC’s recommendations on merger control relevant? 

    Over the past 40 years, a growing number of countries have adopted merger rules to examine the impact of mergers on competition and ensure the functioning of their markets. This unprecedented development has been spurred by recommendations from the Organisation for Economic Cooperation and Development and the International Competition Network.  

    As more jurisdictions establish merger control regimes, inconsistencies and procedural issues have emerged. Emphasising the importance of clear guidelines, ICC addresses these challenges by providing a comprehensive framework and recommendations for improving merger control practices.  

    The recommendations cover key areas such as the concept of reportable mergers, notification thresholds, simplified forms, funding of antitrust agencies, guidelines and gun jumping fines. 

    They aim to  

    • enhance predictability, 
    • reduce costs, 
    • ensure effective enforcement,  
    • promote consistency at a global level and 
    • reduce administrative burdens.  

    What makes ICC’s recommendations on merger control unique? 

    The recommendations are the result of a cooperative and inclusive effort involving nearly 200 ICC in-house counsel, private practitioners from 20 key jurisdictions and several antitrust agencies providing feedback.  

    The broad representation included in the country annex ensures that the recommendations reflect a global perspective and consider the needs and challenges faced by companies operating across borders. 

    ICC underscores the importance of continued collaboration among companies, lawyers and antitrust agencies to pursue the following shared goals:  

    • ensure that transactions are reported in jurisdictions where they might have an impact on competition;  
    • secure and dedicate resources that are proportionate to the issues at stake in an individual case;  
    • enhance predictability and legal certainty with clear legal tests and consistent sanctions. 

    Who are the recommendations on merger control for?  

    • companies, private practitioners, and antitrust agencies involved in merger transactions;  
    • companies engaged in cross-border transactions involving multiple merger control jurisdictions; 
    • antitrust agencies seeking insights and proposals for streamlining processes and achieving more effective enforcement 

    Should you have any further questions, contact us. 

    MIL OSI Economics –

  • MIL-OSI Submissions: Stats NZ information release: New Zealand business demography statistics: At February 2024

    Source: Statistics New Zealand

    New Zealand business demography statistics: At February 2024 – information release – 31 October 2024 – Business demography statistics provide an annual snapshot of the characteristics of New Zealand businesses. The statistics cover economically significant enterprises that produce goods and services in New Zealand.

    Key facts
    Provisional data showed that at February 2024:

    • New Zealand had 612,420 enterprises, an increase of 1.0 percent from February 2023; this followed a 2.0 percent increase in the previous February year
    • the number of paid employees in these enterprises (not an official employment statistic) was 2.5 million, up 1.5 percent from February 2023
    • these enterprises had 649,160 business locations, an increase of 0.9 percent from February 2023
    • of the 19 industries, 11 had more enterprises compared with February 2023, and 14 had more employees
    • of the 16 regions, 14 had more business locations than a year ago, and 11 had more employees.

    Visit Statistics NZ’s website to read this information release and to download CSV files:

     

    MIL OSI –

  • MIL-OSI Europe: The start-up “Patronus AI” wins over the DDPS in the Cyber Start-up Challenge 2024

    Source: Switzerland – Department of Defence, Civil Protection and Sport

    The Cyber Start-up Challenge of the Cyber-Defence Campus of armasuisse Science and Technology is held every year to find relevant start-ups and innovative technologies in the cyber area. In this year’s Cyber Start-up Challenge contest, the start-up “Patronus AI” won over the jury with a platform for automated evaluation and safeguarding of LLMs. In 2025, the start-up will be able to demonstrate its solution to the DDPS in practice in a feasibility study.

    MIL OSI Europe News –

  • MIL-OSI New Zealand: Reserve Bank of NZ – Home buyers remain cautious in subdued housing market

    Source: Reserve Bank of New Zealand

    31 October 2024 – Housing market activity is currently subdued, with interest rates still at elevated levels. Households continue to show resilience following the significant price rises and falls seen over the last four years, according to a special topic on housing from the upcoming Reserve Bank of New Zealand – Te Pūtea Matua Financial Stability Report.

    Understanding the dynamics of the housing market is crucial for Te Pūtea Matua, as home loans account for more than 60 percent of total bank lending. Residential property makes up over half of New Zealand households’ wealth and the housing market directly influences financial stability, affects consumer confidence, and shapes economic growth.

    “Ensuring that we remain vigilant in monitoring these trends and market dynamics is essential for safeguarding the financial system and broader economy,” says Kerry Watt, Director of Financial Stability Assessment & Strategy.

    “House prices remain a stretch for many prospective buyers and are hovering around the top of our estimate of sustainable levels. Banks are currently facing competitive pressures to attract a limited pool of creditworthy borrowers, ” Mr Watt says.

    Borrowers’ capacity to take on more debt is increasing as monetary policy is eased. However, the weaker economic environment means households are exercising caution. The level of interest rates is still high by recent standards and lending growth has been low over the past year. It is uncertain when and by how much demand for new borrowing will pick up.

    New Zealand saw a rapid house price cycle over the past few years. The special topic compares our experience with some international examples of house price cycles, including those that led to significant financial system distress.

    “Although New Zealand’s recent house price cycle has been rapid compared to overseas examples, there has been comparatively less stress on our financial system, demonstrating the robustness of our institutions and regulatory frameworks,” Mr Watt says.

    Looking ahead, government policy changes are underway to increase long-term supply responsiveness in the housing market. Better supply responses to housing demand will help to moderate future house price cycles and improve housing affordability. Debt-to-income restrictions will also play an important role in moderating demand cycles and reducing the buildup of risks.

    More information

    Read our update on the housing market  https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=8ebee3769c&e=f3c68946f8
    The 2024 November Financial Stability report will be published on our website at 9:00am on Tuesday 5 November, with a media conference starting at 1:00pm. See the full details. https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=2e769bc10c&e=f3c68946f8

    What is the Financial Stability report https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=2731de53b7&e=f3c68946f8

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Stats NZ information release: New Zealand business demography statistics: At February 2024

    Source: Statistics New Zealand

    New Zealand business demography statistics: At February 2024 – information release – 31 October 2024 – Business demography statistics provide an annual snapshot of the characteristics of New Zealand businesses. The statistics cover economically significant enterprises that produce goods and services in New Zealand.

    Key facts
    Provisional data showed that at February 2024:

    • New Zealand had 612,420 enterprises, an increase of 1.0 percent from February 2023; this followed a 2.0 percent increase in the previous February year
    • the number of paid employees in these enterprises (not an official employment statistic) was 2.5 million, up 1.5 percent from February 2023
    • these enterprises had 649,160 business locations, an increase of 0.9 percent from February 2023
    • of the 19 industries, 11 had more enterprises compared with February 2023, and 14 had more employees
    • of the 16 regions, 14 had more business locations than a year ago, and 11 had more employees.

    Visit our website to read this information release and to download CSV files:

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Surveys – New Zealand outranks Australia as the country that Americans want to relocate to the most, according to new research

    Source: Journo Research

    New Zealand ranks in eighth place with 11,866 average monthly searches, beating Australia with 10,919 searches.
    Canada is the country that Americans want to relocate to the most, with 28,722 average monthly relocation-related searches.
    The study analysed Google search data for keywords related to relocation inquiries to rank the countries Americans are most interested in moving to.

    New research reveals that Canada is the country Americans want to relocate to the most.
     
    Experts at QR Code Generator ranked countries by the average number of monthly Google searches for relocation-related terms, such as “move to Canada” and “Brazil visa.” The findings identified which countries Americans would like to relocate to the most.
     
    Canada ranks in first place with 28,722 average monthly searches. The country is the most searched in every state except California and Hawaii, where Japan holds the top spot.
     
    Vermont has the highest average monthly searches for Canada-related relocation terms per 100,000 of its population, at 20.34 searches.
     
    With 21,584 average monthly searches, Japan places second. Hawaii searches for Japan the most, with 26.36 average monthly searches per 100,000 locals. This search volume is also the highest out of any state’s interest in any country.
     
    Third place goes to Costa Rica with 15,511 average monthly searches. Montana has the highest average monthly searches for Costa Rica, with 8.90 searches per 100,000 residents.
     
    Brazil ranks in fourth place with 14,613 average monthly searches. With 7.64 average monthly searches per 100,000 locals, Massachusetts is the most interested in moving to Brazil.
     
    Earning fifth place, Mexico has 13,221 average monthly searches. South Dakota is the most interested in moving to Mexico, with 8.52 average monthly searches per 100,000 residents.

    Countries that Americans want to relocate to the most

     

    Ranking 

    Country 

    Average Monthly Google Searches  

    1 

    Canada 

    28,722 

    2 

    Japan 

    21,584 

    3 

    Costa Rica 

    15,511 

    4 

    Brazil 

    14,613 

    5 

    Mexico 

    13,221 

    6 

    Switzerland 

    12,963 

    7 

    Spain 

    12,592 

    8 

    New Zealand 

    11,866 

    9 

    Ireland 

    11,732 

    10 

    Italy 

    11,711 

     
    Switzerland ranks sixth, with 12,963 average monthly searches. With 5.08 average monthly searches per 100,000 locals, Massachusetts is the state that is the most interested in moving to the Central European country.
     
    With 12,592 average monthly searches, Spain takes seventh place. Even though Spain reaches its highest rank of fourth-most searched in New York, the state that has the highest volume of Spain-related searches is Rhode Island, with 7.98 searches per 100,000 residents.
     
    In eighth place, New Zealand has 11,866 average monthly searches. The country in Oceania was the second-most popular in Wyoming, Montana, and Hawaii, with 13.27, 9.42, and 11.85 average monthly searches per 100,000 locals, respectively.
     
    Ireland ranks in ninth place with 11,732 average monthly searches. Ireland was the second-most popular country with Vermont, Maine and West Virginia, receiving 13.77, 8.42, and 5.08 average monthly searches per 100,000 residents, respectively.
     
    Italy just makes the list in tenth place, with 11,711 searches. Alaska, Delaware, and Rhode Island had Italy as their second-most searched destination, with 12.84, 8.80, and 9.88 average monthly searches per 100,000 locals, respectively.  
     
    Marc Porcar, CEO of QR Code Generator PRO S.L, commented on the findings:
     
    “With its proximity and cultural similarities, Canada has emerged as the clear favorite for Americans considering a move abroad.

    “Yet some of the other top choices, like Japan, Costa Rica, and Brazil, are surprising, given the language barriers, unique cuisines, and distinct cultural landscapes they offer.

    “These findings reveal that many Americans aren’t just looking for an easy transition, but are drawn to the adventure of a richer, more diverse experience overseas.”

    If you publish these insights, please credit and link to QR Code Generator, as they conducted this research.
     
    Methodology
     
    To determine which countries have the highest interest for Americans looking to relocate, data from Google Keyword Planner was examined.  
     
    Terms like “move to [country]” and “visa [country]” were searched, and the average monthly search volume over the past 12 months was analysed to rank countries by the frequency of relocation searches.
     
    State data was compared to its respective populations.

    The 193 countries were taken from this United Nations source:

    https://www.un.org/en/about-us/member-states

    The combined search volume for each country’s 22 terms was calculated and used to rank the countries from highest to lowest average monthly searches.

    Full ranking: The countries Americans want to relocate to the most

     

    Ranking 

    Country 

    Average Monthly Google Searches  

    1 

    Canada 

    28,722 

    2 

    Japan 

    21,584 

    3 

    Costa Rica 

    15,511 

    4 

    Brazil 

    14,613 

    5 

    Mexico 

    13,221 

    6 

    Switzerland 

    12,963 

    7 

    Spain 

    12,592 

    8 

    New Zealand 

    11,866 

    9 

    Ireland 

    11,732 

    10 

    Italy 

    11,711 

    11 

    Portugal 

    11,057 

    12 

    Australia 

    10,919 

    13 

    Thailand 

    9,228 

    14 

    Germany 

    9,193 

    15 

    Turkey 

    9,089 

    16 

    Iceland 

    8,557 

    17 

    Norway 

    8,274 

    18 

    Sweden 

    7,696 

    19 

    France 

    7,685 

    20 

    United Kingdom 

    7,523 

    21 

    Greece 

    6,957 

    22 

    Netherlands 

    6,705 

    23 

    Kenya 

    6,632 

    24 

    Philippines 

    6,309 

    25 

    Finland 

    6,079 

    26 

    Denmark 

    6,013 

    27 

    Vietnam 

    6,005 

    28 

    Belize 

    5,838 

    29 

    Ghana 

    5,756 

    30 

    Panama 

    5,647 

    31 

    North Korea 

    5,441 

    32 

    South Korea 

    5,133 

    33 

    Dominican Republic 

    5,098 

    34 

    Russia 

    4,947 

    35 

    The Bahamas 

    4,851 

    36 

    South Africa 

    4,813 

    37 

    Argentina 

    4,769 

    38 

    Singapore 

    4,753 

    39 

    China 

    4,482 

    40 

    Taiwan 

    4,283 

    41 

    Poland 

    4,168 

    42 

    Israel 

    3,913 

    43 

    Colombia 

    3,910 

    44 

    India 

    3,906 

    45 

    Ecuador 

    3,885 

    46 

    Austria 

    3,648 

    47 

    Malaysia 

    3,633 

    48 

    Uruguay 

    3,510 

    49 

    Jamaica 

    3,386 

    50 

    Chile 

    3,356 

    MIL OSI New Zealand News –

  • MIL-OSI: OP Mortgage Bank: Interim Report 1 January–30 September 2024

    Source: GlobeNewswire (MIL-OSI)

    OP Mortgage Bank
    Interim Report 1 January–30 September 2024
    Stock Exchange Release 31 October 2024 at 10.00 EET

    OP Mortgage Bank: Interim Report 1 January–30 September 2024

    OP Mortgage Bank (OP MB) is the covered bond issuing entity of OP Financial Group. Together with OP Corporate Bank plc, its role is to raise funding for OP Financial Group from money and capital markets.

    Financial standing

    The intermediary loans and loan portfolio of OP MB totalled EUR 16,628 million (16,988)* on 30 September 2024. Bonds issued by OP MB totalled EUR 14,915 million (14,915) at the end of September.

    OP MB’s covered bonds after 8 July 2022 are issued under the Euro Medium Term Covered Bond (Premium) programme (EMTCB), pursuant to the Finnish Act on Mortgage Credit Banks and Covered Bonds (151/2022). The collateral is added to the EMTCB cover pool from the member cooperative banks’ balance sheets via the intermediary loan process on the issue date of a new covered bond.

    In January, OP MB issued a covered bond in the international capital market. The fixed-rate covered bond worth EUR 1 billion has a maturity of seven years and six months. All proceeds of the bond were intermediated to 63 OP cooperative banks in the form of intermediary loans.

    The terms of issue are available on the op.fi website, under Debt investors: www.op.fi/op-ryhma/velkasijoittajat/issuers/op-mortgage-bank/emtcb-debt-programme-documentation.

    On 30 September 2024, 98 OP cooperative banks had a total of EUR 14,800 million (14,800) in intermediary loans from OP MB.

    Impairment loss on receivables related to loans in OP MB’s balance sheet totalled EUR 0.1 million (-0.2). Loss allowance was EUR 2.4 million (2.6).

    Operating profit was EUR 6.4 million (8.3). The company’s financial standing remained stable throughout the reporting period.

    * The comparatives for 2023 are given in brackets. For income statement and other aggregated figures, the January–September 2023 figures serve as comparatives. For balance-sheet and other cross-sectional figures, figures at the end of the previous financial year (31 December 2023) serve as comparatives.

    Collateralisation of bonds issued to the public

    The covered bonds issued under the EMTCB programme worth EUR 25 billion established on 11 October 2022, in accordance with the Act on Mortgage Credit Banks and Covered Bonds (151/2022), totalled EUR 5,250 million. The cover pool included a total of EUR 5,781 million in loans serving as collateral on 30 September 2024. Overcollateralisation exceeded the minimum requirement under the Act (151/2022).

    The covered bonds issued under the Euro Medium Term Covered Note programme worth EUR 20 billion established on 12 November 2010, in accordance with the Act on Mortgage Credit Banks (Laki kiinnitysluottopankkitoiminnasta, 688/2010), totalled EUR 9,665 million. The cover pool included a total of EUR 11,900 million in loans serving as collateral on 30 September 2024. Overcollateralisation exceeded the minimum requirement under the Act (688/2010).

    Capital adequacy

    OP MB’s Common Equity Tier 1 (CET1) ratio stood at 49.3% (41.8) on 30 September 2024. The ratio was improved by the decrease in mortgages on OP MB’s balance sheet and the resulting reduction in capital requirement for credit risk. The minimum CET1 capital requirement is 4.5% and the requirement for the capital conservation buffer is 2.5%. The minimum total capital requirement is 8% (or 10.5% with the increased capital conservation buffer). Because OP MB covers capital requirements in their entirety with CET1 capital, the CET1 capital requirement is 10.5%. Estimated profit distribution has been subtracted from earnings for the reporting period.

    OP MB uses the Standardised Approach (SA) to measure its capital adequacy requirement for credit risk. The Standardised Approach is also used to measure the capital requirement for operational risks.

    OP MB belongs to OP Financial Group. As part of the Group, OP MB is supervised by the European Central Bank. OP Financial Group presents capital adequacy information in its financial statements bulletins and interim and half-year financial reports in accordance with the Act on the Amalgamation of Deposit Banks. OP Financial Group also publishes Pillar III disclosures.

    Own funds and capital adequacy, TEUR 30 Sep 2024 31 Dec 2023
    Equity capital 369,686 372,160
    Excess funding of pension liability -13 -13
    Share of unaudited profits   -7,490
    Proposed profit distribution -5,016  
    Insufficient coverage for non-performing exposures -4,632 -2,856
    CET1 capital 360,024 361,800
    Tier 1 capital (T1) 360,024 361,800
    Total own funds 360,024 361,800
    Total risk exposure amount    
    Credit and counterparty risk 679,352 812,205
    Operational risk 26,636 25,140
    Other risks* 24,774 27,336
    Total 730,762 864,682
    Ratios, %    
    CET1 ratio 49.3 41.8
    Tier 1 capital ratio 49.3 41.8
    Capital adequacy ratio 49.3 41.8
    Capital requirement    
    Own funds 360,024 361,800
    Capital requirement 76,765 90,829
    Buffer for capital requirements 283,259 270,971

    * Risks not otherwise covered.

    Liabilities under the Resolution Act

    Under regulation applied to crisis resolution of credit institutions and investment firms, the resolution authority is authorised to intervene in the terms and conditions of investment products issued by a bank in a way that affects an investor’s position. The EU’s Single Resolution Board (SRB) based in Brussels is OP Financial Group’s resolution authority. The SRB has confirmed a resolution strategy for OP Financial Group whereby the resolution measures would focus on the OP amalgamation and on the new OP Corporate Bank that would be formed in case of resolution. According to the resolution strategy, OP MB will continue its operations as the new OP Corporate Bank’s subsidiary.

    The SRB has set a Minimum Requirement for Own Funds and Eligible Liabilities (MREL) for OP MB. From May 2024, the MREL is 16% of the total risk exposure amount and 18.5% of the total risk exposure amount including a combined buffer requirement, and 6% of leverage ratio exposures. The requirement entered into force on 15 May 2024. The requirement includes a Combined Buffer Requirement (CBR) of 2.5%.

    OP MB’s buffer for the MREL requirement was EUR 215 million. The buffer consists of own funds only. OP MB clearly exceeds the MREL requirement. OP MB’s MREL ratio was 46% of the total risk exposure amount.

    Joint and several liability of amalgamation

    Under the Act on the Amalgamation of Deposit Banks (599/2010), the amalgamation of cooperative banks comprises the organisation’s central cooperative (OP Cooperative), the central cooperative’s member credit institutions and the companies belonging to their consolidation groups, as well as credit and financial institutions and service companies in which the above together hold more than half of the total votes. This amalgamation is supervised on a consolidated basis. On 30 September 2024, OP Cooperative’s member credit institutions comprised 99 OP cooperative banks, OP Corporate Bank plc, OP Mortgage Bank and OP Retail Customers plc.

    The central cooperative is responsible for issuing instructions to its member credit institutions concerning their internal control and risk management, their procedures for securing liquidity and capital adequacy, and for compliance with harmonised accounting policies in the preparation of the amalgamation’s consolidated financial statements.

    As a support measure referred to in the Act on the Amalgamation of Deposit Banks, the central cooperative is liable to pay any of its member credit institutions the amount necessary to preventing the credit institution from being placed in liquidation. The central cooperative is also liable for the debts of a member credit institution which cannot be paid using the member credit institution’s assets.

    Each member bank is liable to pay a proportion of the amount which the central cooperative has paid to either another member bank as a support measure or to a creditor of such a member bank in payment of an overdue amount which the creditor has not received from the member bank. Furthermore, if the central cooperative defaults, a member bank has unlimited refinancing liability for the central cooperative’s debts as referred to in the Co-operatives Act.

    Each member bank’s liability for the amount the central cooperative has paid to the creditor on behalf of a member bank is divided between the member banks in proportion to their last adopted balance sheets. OP Financial Group’s insurance companies do not fall within the scope of joint and several liability.

    According to section 25 of the Act on Mortgage Credit Banks (688/2010), which was valid at that time, the creditors of covered bonds issued prior to 8 July 2022 have the right to receive payment, before other claims, for the entire term of the bond, in accordance with the terms and conditions of the bond, out of the funds entered as collateral for the bond, without this being prevented by OP MB’s liquidation or bankruptcy. A similar and equal priority also applies to derivative contracts entered in the register of bonds, and to marginal lending facilities referred to in section 26, subsection 4 of said Act. For mortgage-backed loans issued prior to 8 July 2022 and included in the total amount of collateral of covered bonds, the priority of the covered bond holders’ payment right is limited to the amount of loan that, with respect to home loans, corresponds to 70% of the value of shares or property serving as security for the loan and entered in the bond register at the time of the issuer’s liquidation or bankruptcy declaration.

    Under section 20 of the Act on Mortgage Credit Banks and Covered Bonds (151/2022), which entered into force on 8 July 2022, the creditors of bonds issued after 8 July 2022, including the related management and clearing costs, have the right to receive payment from the collateral included in the cover pool, before other creditors of OP MB or the OP cooperative bank which is the debtor of an intermediary loan. A similar priority also applies to creditors of derivative contracts related to covered bonds, including the related management and clearing costs. Interest and yield accruing on the collateral, and any substitute assets, fall within the scope of said priority. Section 44, subsection 3 of the Act on Mortgage Credit Banks and Covered Bonds includes provisions on the creditor’s priority claim regarding cover pool liquidity support. According to said subsection, the creditor has the right to receive payment against the funds contained in the cover pool after claims based on the principal and interest of covered bonds secured by the cover assets included in the cover pool, obligations based on derivatives contracts associated with covered bonds, as well as administration and liquidation costs.

    Sustainability and corporate responsibility

    Responsible business is one of OP Financial Group’s strategic priorities. OP Financial Group’s sustainability programme guides the Group’s actions and is built around three themes: Climate and the environment, People and communities, and Corporate governance. Read more about the sustainability programme at www.op.fi/en/op-financial-group/corporate-social-responsibility.

    At OP Financial Group, sustainability and corporate responsibility are guided by a number of principles and policies. OP Financial Group is committed to complying not only with all applicable laws and regulations, but also with a number of international initiatives. The Group is committed to complying with the ten principles of the UN Global Compact initiative in the areas of human rights, labour rights, the environment and anti-corruption. OP Financial Group is a Founding Signatory of the Principles for Responsible Banking under the United Nations Environment Programme Finance Initiative (UNEP FI). Furthermore, OP Financial Group is committed to complying with the UN Principles for Responsible Investment and the UN Principles for Sustainable Insurance.

    As of the reporting year 2024, OP Financial Group reports on its sustainability and corporate responsibility in accordance with the European Sustainability Reporting Standards (ESRS) under the EU’s Corporate Sustainability Reporting Directive (CSRD).

    OP Financial Group has drawn up a biodiversity road map that includes measures to promote biodiversity at OP Financial Group. The aim is to create a nature positive handprint by 2030. ‘Nature positive’ means that OP Financial Group’s operations will have a net positive impact (NPI) on nature.

    OP Financial Group has also drawn up a Human Rights Statement and Human Rights Policy. OP Financial Group respects all recognised human rights, and the Human Rights Statement includes the requirements and expectations that OP Financial Group has set for itself and actors in its value chains. OP Financial Group is committed to remediation actions if it causes adverse human rights impacts.

    In March 2024, OP MB published a Green Covered Bond Report on the allocation and impacts of Finland’s first green covered bonds issued in March 2021 and April 2022. Under OP MB’s Green Covered Bond Framework, the proceeds from the bonds have been allocated to mortgages with energy-efficient residential buildings as collateral.

    The environmental impacts allocated to the green covered bonds in 2023 were 59,000 MWh of energy use avoided per year and 8,800 tonnes of CO2-equivalent emissions avoided per year. 

    Personnel

    On 30 September 2024, OP MB had six employees. OP MB has been digitising its operations and purchases all key support services from OP Cooperative and its Group members, reducing the need for its own personnel.

    Management

    The Board composition is as follows:

    Chair Mikko Timonen Chief Financial Officer, OP Cooperative
    Members Satu Nurmi Head of Personal Finance and Real Estate Services,
    OP Retail Customers plc
      Mari Heikkilä Head of Group Treasury & ALM, OP Corporate Bank plc

    OP MB’s Managing Director is Sanna Eriksson. The deputy Managing Director is Tuomas Ruotsalainen, Senior Covered Bonds Manager at OP MB.

    Risk profile

    OP MB has a strong capital base, capital buffers and risk-bearing capacity, and they are expected to remain strong throughout the rest of the year.

    OP MB’s most significant risks are related to the quality of collateral and to the structural liquidity and interest rate risks on the balance sheet for which limits have been set in the Banking Risk Policy. The key credit risk indicators in use show that OP MB’s credit risk exposure is stable. OP MB has used interest rate swaps to hedge against its interest rate risk. Interest rate swaps have been used to swap home loan interest, intermediary loan interest and interest on issued bonds onto the same basis rate. OP MB has concluded all derivative contracts for hedging purposes, applying fair value hedges which have OP Corporate Bank plc as their counterparty. OP MB’s interest risk exposure is under control and has been within the set limit.

    The liquidity buffer for OP Financial Group is centrally managed by OP Corporate Bank and therefore exploitable by OP MB. At the end of the reporting period, OP Financial Group’s Liquidity Coverage Ratio (LCR) was 214% and the Net Stable Funding Ratio (NSFR) was 130%. OP MB monitors its cash flows on a daily basis to secure funding liquidity and its structural funding risk on a regular basis as part of the company’s internal capital adequacy assessment process (ICAAP).

    An analysis of OP MB’s risk exposure should always take account of OP Financial Group’s risk exposure, which is based on the joint and several liability of all its member credit institutions. The member credit institutions are jointly liable for each other’s debts. All member banks must participate in support measures, as referred to in the Act on the Amalgamation of Deposit Banks, to support each other’s capital adequacy.

    OP Financial Group analyses the business environment as part of the ongoing risk assessment activities and strategy process. Megatrends and worldviews behind OP Financial Group’s strategy reflect driving forces that affect the daily activities, conditions and future of the Group and its customers. Factors currently shaping the business environment include climate, biodiversity loss, scientific and technological innovations, polarisation, demography and geopolitics. External business environment factors are considered thoroughly, so that their effects on customers’ future success are understood. OP Financial Group provides advice and makes business decisions that promote the sustainable financial success, security and wellbeing of its owner-customers and operating region while managing the Group’s risk profile on a longer-term basis. Advice for customers, risk-based service sizing, contract lifecycle management, decision-making, management and reporting are based on correct and comprehensive information.

    Events after the reporting period

    In October, OP MB issued a covered bond in the international capital market. The fixed-rate covered bond worth EUR 1 billion has a maturity of five years. All proceeds of the bond were intermediated to 48 OP cooperative banks in the form of intermediary loans.

    The terms of issue are available at the op.fi website, under Debt investors: www.op.fi/op-ryhma/velkasijoittajat/issuers/op-mortgage-bank/emtcb-debt-programme-documentation.

    In October, OP MB’s Board of Directors decided to sell OP MB’s on-balance sheet loan portfolio of EUR 1,825 million to 85 OP cooperative banks later this year.

    Outlook for 2024

    The Finnish economy was sluggish in the first half. GDP contracted over the previous year and unemployment increased. Forecast data suggests that the Finnish economy began to grow in the third quarter of 2024. Falling inflation and interest rates provide a basis for the recovery to continue. Risks associated with the economic outlook are still higher than usual. The escalation of geopolitical crises may abruptly affect capital markets and the economic environment.

    OP MB’s capital adequacy is expected to remain strong and risk exposure favourable. This will enable the issuance of new covered bonds also in the future.

    Time of publication of 2024 reports

    Report by the Board of Directors and Financial Statements 2024 Week 11, 2025
    Corporate Governance Statement 2024 Week 11, 2025

    Schedule for Financial Statements Bulletin 2024 and Interim Reports in 2025

    Financial Statements Bulletin 1 January‒31 December 2024 6 February 2025
    Interim Report 1 January–31 March 2025 7 May 2025
    Half-year Financial Report 1 January–30 June 2025 30 July 2025
    Interim Report 1 January–30 September 2025 28 October 2025

    Helsinki, 31 October 2024

    OP Mortgage Bank
    Board of Directors

    Additional information:

    Managing Director Sanna Eriksson, phone +358 10 252 2517

    DISTRIBUTION

    LSE London Stock Exchange
    Euronext Dublin (Irish Stock Exchange)
    Officially Appointed Mechanism (OAM)
    Major media
    op.fi

    The MIL Network –

  • MIL-OSI: CoinShares Appoints Lisa Avellini as Group General Counsel

    Source: GlobeNewswire (MIL-OSI)

    31stOctober 2024 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares” or “the Group”) (Nasdaq Stockholm: CS; US OTCQX: CNSRF), the leading European investment company specialising in digital assets, is pleased to announce the appointment of Lisa Avellini as Group General Counsel, effective November 4, 2024.

    Lisa brings a wealth of valuable experience to CoinShares, with an extensive background in legal and compliance roles within leading global financial institutions. She joins CoinShares after three years at Balyasny Asset Management, where she oversaw global legal and compliance requirements for the credit division.

    Prior to her tenure at Balyasny, Lisa spent three years at Citadel, where she provided strategic legal guidance across a range of complex financial transactions and regulatory matters.

    Jean-Marie Mognetti, CEO of CoinShares, commented:

    “As the digital asset ecosystem increasingly aligns with traditional finance and its regulatory frameworks, Lisa’s extensive legal and regulatory experience with established investment firms strengthens our expertise to navigate this evolving landscape.

    Lisa’s appointment reinforces our leadership team and underscores our unwavering commitment to exemplary legal and regulatory compliance. Her arrival not only enhances our capabilities but also signifies CoinShares’ entry into a new growth phase, demonstrating our ability to attract premier talent from the world’s foremost investment companies.”

    Lisa Avellini added:

    “I am excited to join CoinShares at such a pivotal time in the company’s development. My career has always been driven by curiosity and innovation, and the digital asset industry presents unique challenges and opportunities. This is why I have decided to join a leader in this emerging industry. I look forward to contributing my experience to support CoinShares’ strategic objectives and to further enhance its strong compliance culture.”

    In her role as Group General Counsel, Lisa will oversee all legal and regulatory matters for CoinShares globally, providing strategic advice to the executive team and supporting the company’s growth initiatives.

    ABOUT COINSHARES

    CoinShares is the leading European investment company specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, and in the US by the Securities and Exchange Commission, National Futures Association and Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

    For more information on CoinShares, please visit: https://coinshares.com
    Company | +44 (0)1534 513 100 | enquiries@coinshares.com
    Investor Relations | +44 (0)1534 513 100 | enquiries@coinshares.com

    PRESS CONTACT

    CoinShares
    Benoît Pellevoizin
    bpellevoizin@coinshares.com

    M Group Strategic Communications
    Peter Padovano
    press@coinshares.com

    The MIL Network –

  • MIL-OSI: YXT.com Group Holding Limited Announces Change of Auditor

    Source: GlobeNewswire (MIL-OSI)

    SUZHOU, China, Oct. 31, 2024 (GLOBE NEWSWIRE) — YXT.com Group Holding Limited (“YXT.com” or the “Company”), a leader and disruptor of the digital corporate learning industry in China, today announced the appointment of Marcum Asia CPAs LLP (“Marcum Asia”) as the Company’s independent registered public accounting firm, effective on October 31, 2024.

    Marcum Asia succeeds PricewaterhouseCoopers Zhong Tian LLP (“PwC”), which was previously the independent auditor providing audit services to the Company. The change of the Company’s independent auditor was made after careful consideration and an evaluation process by the Company and has been recommended by the audit committee of the board of directors of the Company and approved by the board of directors of the Company. The decision to change auditor was not as a result of any disagreement between the Company and PwC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures.

    Marcum Asia is engaged to audit and report on the consolidated financial statements of the Company for the fiscal year ending December 31, 2024. The audit reports issued by PwC on the Company’s consolidated financial statements for the fiscal years ended December 31, 2022 and 2023 did not contain any adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principles.

    The Company would like to take this opportunity to express its sincere gratitude to the PwC team for their professionalism and quality of services rendered to the Company over the past years.

    About YXT.com
    As a technology company, YXT.com provides corporations with digital corporate learning solutions, including SaaS platforms, learning content, and other services. YXT.com is a leader and disruptor of the digital corporate learning industry in China. Established in 2011, YXT.com has supported Fortune 500 companies and other leading companies with their transformation and digitalization of learning and development, and has received recognition, respect and recurring business.

    Safe Harbor Statement
    This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to”, or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

    Contact
    Robin Yang
    ICR, LLC
    YXT.IR@icrinc.com
    +1 (646) 405-4883

    The MIL Network –

  • MIL-OSI Australia: Candidates announced for the 2024 TSRA Board Election [31 October 2024]

    Source: Australian Electoral Commission

    AECMedia

    Updated: 31 October 2024

    Candidates in the 2024 Torres Strait Regional Authority (TSRA) elections to be held on Saturday 30 November 2024 have been officially announced today.

    Returning Officer, Jacqueline McHenry said 20 wards in the Torres Strait are involved in the 2024 TSRA elections, with each ward electing one member to the TSRA board.

    The ballot draw for the election took place at 1.00pm (AEST) on Thursday 31 October 2024, and the candidates for the election in the contested wards are as follows:

    Ward

    Candidate Name (in ballot paper order)

    Badu Island
    • BAIRA, Horace
    • NONA, David Lars
    • NONA, Maluwap
    • MORSEU, George

    Bamaga
    • NADREDRE, Yanette (Pepa)
    • NONA, Ugari

    Dauan
    • MOOKA, Patrick
    • ELISALA, Torenzo

    Erub
    • GELA, Jimmy Joe
    • BEDFORD, Kenneth
    • MYE, Nixon Y

    Hammond
    • DORANTE, Seriako
    • TURNER, Regina

    Iama
    • LUI, Getano
    • DAVID, Charles Albert

    Kubin
    • MANAS, Louise
    • SAVAGE, Danie

    Mabuiag
    • FELL, Keith
    • REPU, Cygnet
    • GUISE, Simi

    Masig
    • MOSBY, Hilda Denise
    • MOSBY, Yessie
    • NAAWI, Simon Frederick

    Mer
    • TAPAU, Ellen Cecilia Julie
    • KAIGEY, Bob Kevin
    • TABO, John

    Ngurapai and Muralag
    • LOBAN, Yen N
    • WASAGA, Eliziah
    • BECKLEY (Doolah), Emma

    Port Kennedy
    • FUJII, Thomas Jnr
    • JOHNSTON, Neville
    • AH WANG, Pauline
    • DAVID, Frank
    • NONA, George Timothy
    • HAVILI, Ofa

    Poruma
    • MOSBY, Phillemon
    • FAUID, Frank

    Saibai
    • MATTHEW, Jack
    • WARUSAM, Herbert
    • ANIBA, Chelsea

    Seisia
    • ELU, Damien Mugai
    • MUDU, Sabrina

    St Pauls
    • PAIWAN, John
    • KRIS, John T

    TRAWQ
    • STEPHEN, Sereako
    • HARRY, Abigail
    • KRIS, Ella

    Ugar
    • STEPHEN, Jerry Dixie
    • STEPHEN, Rocky Gabriel

    Warraber
    • TAMU, Kabay
    • MARI, Annie Patricia
    • BILLY, Iris

    In the ward of Boigu only one candidate nominated.  This means voting will not be required in this ward as it is classed as an uncontested ward.

    Uncontested ward:

    Ward

    Candidate

    Boigu

    TOBY, Dimas Pinaith

    All Torres Strait Islander and Aboriginal people living in the wards where elections will take place, who are 18 years of age or over, can vote in the TSRA election, if they are enrolled on the Commonwealth electoral roll by 5:00pm (AEST) on Friday 15 November 2024.

    If you need to enrol for the first time, or if you have recently moved to any of these wards and have not updated your address, you will need to complete an enrolment form and return it to the Australian Electoral Commission (AEC) by 5:00pm (AEST) on Friday 15 November 2024.

    Enrolment forms are available from the AEC website at www.aec.gov.au, AEC offices, the TSRA office, and the Returning Officer.

    Polling places will be open on Saturday 30 November 2024 in the wards of:

    • Bamaga
    • Ngurapai and Muralag on Horn Island, and
    • Port Kennedy and TRAWQ on Thursday Island.

    The AEC will conduct mobile polling for contested wards in outer communities.  Communities will be informed of times, dates and polling places prior to the mobile polling teams arriving.

    Information on polling place locations, early voting options or hospital and aged care facility polling places will be available shortly on the AEC website at www.aec.gov.au/tsra or call (02) 9375 6366.

    MIL OSI News –

  • MIL-OSI Security: Illegal possession of firearm sends Belgrade man to prison for almost three years

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    MISSOULA — A federal judge today sentenced a Belgrade man to two years and nine months in prison, to be followed by three years of supervised release, for illegally possessing a firearm during a drug trafficking investigation, U.S. Attorney Jesse Laslovich said.

    The defendant, Isaac James Cardona, 45, pleaded guilty in June to prohibited person in possession of a firearm and ammunition.

    U.S. District Judge Dana L. Christensen presided.

    In court documents, the government alleged that in November 2023, agents with the Missouri River Drug Task Force were conducting surveillance in Belgrade in an area known for drug trafficking. Law enforcement stopped Cardona, who had an outstanding state warrant. Cardona was found to be in possession of a loaded gun, two loaded magazines with extra ammunition for the gun, methamphetamine, a digital scale and 49 fentanyl pills. Cardona previously was convicted of a federal methamphetamine distribution crime and prohibited from possessing firearms and ammunition.

    The U.S. Attorney’s Office prosecuted the case. The Bureau of Alcohol, Tobacco, Firearms and Explosives, Missouri River Drug Task Force, and Belgrade Police Department conducted the investigation.

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

    XXX

    MIL Security OSI –

  • MIL-OSI Security: Previously Convicted Felon Is Sentenced To Prison For Possession Of Ammunition

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    CHARLOTTE, N.C. – David Matthew Lowe, 33, of Shelby, N.C., was sentenced today to 57 months in prison followed by three years of supervised release for possession of ammunition by a convicted felon, announced Dena J. King, U.S. Attorney for the Western District of North Carolina.

    Bennie Mims, Special Agent in Charge of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), Charlotte Field Division, and Chief Gerald Childress of the Kings Mountain Police Department, join U.S. Attorney King in making today’s announcement.

    According to court documents and court proceedings, on August 12, 2023, at approximately 1:45 a.m., officers with the Kings Mountain Police Department were dispatched to a Comfort Inn in the area for a service call for an assault. Upon entering the hotel lobby, an officer encountered a female, identified in court documents as L.T., and the defendant. L.T. told the officers that Lowe had hit her, and she could not see out of her eye. At that point, Lowe fled toward the back of the hotel. Officers chased after Lowe and ultimately Lowe was taken into custody.

    As part of the investigation, law enforcement obtained CCTV footage from the hotel that depicted Lowe possessing a firearm during his assault of L.T. Specifically, the footage depicted L.T. and Lowe having an altercation, L.T. running away from the hotel room, and Lowe following her. Lowe then removed a firearm from his pants and struck L.T. in the side of her head. This caused the firearm’s magazine to break and ammunition along with several firearm parts fell to the floor. The defendant then struck L.T. several more times with a closed fist, causing L.T. to fall to the ground. Lowe then left the scene. Law enforcement recovered the firearms parts from the scene and 15 rounds of mixed ammunition. Court records indicate that Lowe has prior criminal convictions, including a federal conviction in the Western District of North Carolina for conspiracy to participate in racketeering activity – RICO conspiracy. Because of the criminal convictions, Lowe is prohibited from possessing firearms or ammunition.

    Lowe is in federal custody and will be transferred to the custody of the federal Bureau of Prisons upon designation of a federal facility.

    The investigation was conducted by the ATF and the Kings Mountain Police Department.

    Special Assistant U.S. Attorney Eric Frick of the U.S. Attorney’s Office in Charlotte prosecuted the case.

    * * *

    According to the National Coalition Against Domestic Violence, 19% of domestic violence involves a weapon. The presence of a gun in a domestic situation increases the risk of homicide by 500%.

    To understand more about domestic violence, visit: https://www.justice.gov/ovw/domestic-violence#dv. If you require immediate help, please call the National Domestic Violence Hotline at 1-800-799-SAFE (1-800-799-7233) or Strong Hearts Native Helpline at 1-844-762-8483.

     

     

    MIL Security OSI –

  • MIL-OSI: HPH Announces Results of its Extraordinary General Meeting and Separate Class Meeting

    Source: GlobeNewswire (MIL-OSI)

    GUANGZHOU, China, Oct. 31, 2024 (GLOBE NEWSWIRE) — Highest Performances Holdings Inc. (NASDAQ: HPH) (“HPH” or the “Company”) today announced the results of its extraordinary general meeting of shareholders and separate class meeting of the holders of ordinary shares of the Company (the “Combined Meeting”) held in Guangzhou on October 31, 2024.

    At the Combined Meeting, the shareholders passed the following resolutions to:

    (i) change the authorized share capital of the Company FROM US$2,000,000 divided into 2,000,000,000 shares consisting of (i) 1,950,000,000 Ordinary Shares of a nominal or par value of US$0.001 each (the “Ordinary Shares”); and (ii) 50,000,000 Preference Shares of a nominal or par value of US$0.001 each (the “Preference Shares”) TO US$5,000,000 divided into 5,000,000,000 shares consisting of (i) 4,000,000,000 Class A Ordinary Shares of a nominal or par value of US$0.001 each (the “Class A Ordinary Shares”); and (ii) 1,000,000,000 Class B Ordinary Shares of a nominal or par value of US$0.001 each (the “Class B Ordinary Shares”). All of the previously issued and outstanding Ordinary Shares will be re-designated as Class A Ordinary Shares. Each Class A Ordinary Share shall have one vote per Class A Ordinary Share while each Class B Ordinary Share shall have 100 votes per Class B Ordinary Share, among other rights, preferences, privileges and restrictions as set out in the AR M&A (as defined below).

    (ii) replace the existing third amended and restated memorandum and articles of association of the Company in their entirety with a new fourth amended and restated memorandum and articles of association of the Company (the “AR M&A”) to reflect, among others, the aforementioned changes; and

    (iii) authorize any director of the Company (the “Director”) to take any and all action that might be necessary to effect the foregoing resolutions as such Director, in his or her absolute discretion, thinks fit.

    About HPH
    Founded in 2010 and formerly known as Puyi Inc., we have evolved with a vision to become a leading provider of artificial intelligent technology-driven family and enterprise services. Our mission is to enhance the quality of life for families worldwide by leveraging two primary driving forces: technological intelligence and capital investments. We are dedicated to investing in high-quality enterprises with global potential, focusing on areas such as asset allocation, education and study tours, healthcare and elderly care, and family governance.

    We currently hold controlling interests in two leading financial service providers in China. The first is Fanhua Inc., a technology-driven independent financial service platform traded on the Nasdaq. The second is Fanhua Puyi Fund Distribution Co., Ltd., an independent wealth management service provider.

    Highest Performances Holdings Inc., formerly known as Puyi Inc., was renamed on March 13, 2024 to reflect its strategic transformation.

    Forward-looking Statements
    This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When HPH uses words such as “may”, “will”, “intend”, “should”, “believe”, “expect”, “anticipate”, “project”, “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from HPH’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: HPH’s ability to obtain proceeds from the Agreement; HPH’s goals and strategies; HPH’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the third-party wealth management industry in China; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets HPH serves and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by HPH with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in HPH’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. HPH undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

    Highest Performances Holdings Inc.

    The MIL Network –

  • MIL-OSI: The recording of Šiaulių Bankas Investor Conference Webinar of introducing the financial results for Q3 2024

    Source: GlobeNewswire (MIL-OSI)

       During the Investor Conference Webinar by Vytautas Sinius, CEO, Tomas Varenbergas, Head of Investment Management Division and Tautvydas Mėdžius, Strategy Partner introduced the Bank’s financial results for Q3 2024 and recent developments and answered the participant questions afterwards.

         The recording of it can be found on Šiaulių Bankas youtube channel here.

    Presentation and the recording of webinar are also posted on the Bank’s website https://sb.lt/en/investors

        Šiaulių bankas thanks all participants.

    If you would like to receive Šiaulių Bankas news for investors directly to your inbox, subscribe to our newsletter.

    Additional information:
    Tomas Varenbergas
    Head of Investment Management Division
    tomas.varenbergas@sb.lt

    The MIL Network –

  • MIL-OSI United Kingdom: SNP must not backtrack on tenants rights or rent controls

    Source: Scottish Greens

    31 Oct 2024 Housing

    Everyone has a right to a secure and affordable place to call home.

    More in Housing

    The Scottish Government must not dilute the commitments it made to private tenants to deliver enhanced protections and rent controls.

    Speaking ahead of a Ministerial Statement on the forthcoming Housing Bill, the party’s equality spokesperson, Maggie Chapman, called for more protective measures to support renters across the country.

    The bill, which would introduce rent controls and new rights for tenants, was a key pledge in the Bute House Agreement between the Scottish Greens and the Scottish Government, with polling showing support from the overwhelming majority of Scotland.

    There have been concerns that the bill may be watered down, with one national newspaper quoting senior government sources pledging a “light touch approach” to regulations

    Ms Chapman said:

    “We all agree that Scotland faces a housing crisis, but words alone won’t do anything to tackle it. Everyone deserves a safe, warm home that gives them peace of mind and security, and we have so much more to do if we are to give tenants the rights and protections they deserve. 

    “Rent controls are normal in many countries – they exist across Europe and beyond. It is time for them to be introduced in Scotland. The SNP must not betray tenants or backtrack on the commitments they made three years ago.

    “By tackling sky high rents, ensuring protection from eviction, providing the rights to decorate and to keep pets, and providing greater support for victims and survivors of domestic abuse rebuilding their lives, we can build a fairer and better housing system.

    “This bill is a huge opportunity to deliver positive change for renters across Scotland. Everyone deserves to feel happy and safe in their homes and to be able to live comfortably without having to choose between eating or paying their rent.

    “MSPs across the Chamber must stand together and send a loud and clear message in support of tenants rights, giving the protections every tenant deserves. Homes should be for living in, not for profiteering.”

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Residential mortgage survey results for September 2024

    Source: Hong Kong Government special administrative region

    Residential mortgage survey results for September 2024
    Residential mortgage survey results for September 2024
    ******************************************************

    The following is issued on behalf of the Hong Kong Monetary Authority:     The Hong Kong Monetary Authority announced the results of the residential mortgage survey for September 2024.           The number of mortgage applications in September decreased month-on-month by 15.9 per cent to 4 977.           Mortgage loans approved in September decreased by 20.6 per cent compared with August to HK$17.3 billion. Among these, mortgage loans financing primary market transactions decreased by 27.2 per cent to HK$5.6 billion and those financing secondary market transactions decreased by 15.4 per cent to HK$10 billion. Mortgage loans for refinancing decreased by 25.1 per cent to HK$1.8 billion.            Mortgage loans drawn down during September decreased by 3.6 per cent compared with August to HK$15.4 billion.            The ratio of new mortgage loans priced with reference to HIBOR remained unchanged month-on-month at 88.6 per cent in September. The ratio of new mortgage loans priced with reference to best lending rates decreased from 6 per cent in August to 4.2 per cent in September.           The outstanding value of mortgage loans increased month-on-month by 0.1 per cent to HK$1,872.8 billion at end-September.            The mortgage delinquency ratio remained at a low level of 0.11 per cent and the rescheduled loan ratio was unchanged at nearly 0 per cent.

     
    Ends/Thursday, October 31, 2024Issued at HKT 16:30

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Residential mortgage loans in negative equity: End of September 2024

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:

         The Hong Kong Monetary Authority announced today (October 31) the results of its survey on residential mortgage loans (RMLs) in negative equity at end-September 2024.
           
         The estimated number of RMLs in negative equity was 40 713 cases at end-September 2024, as compared to 30 288 cases at end-June 2024. These cases were mainly related to bank staff housing loans or RMLs under mortgage insurance programme, which generally have a higher loan-to-value ratio.
          
         The aggregate value of RMLs in negative equity increased to HK$207.5 billion at end-September 2024 compared with HK$155 billion at end-June 2024.
          
         The unsecured portion of these loans increased to HK$15.8 billion at end-September 2024 from HK$10 billion at end-June 2024.
          
         The three-month delinquency ratio of RMLs in negative equity remained at a low level of 0.13 per cent at end-September 2024 as compared to 0.11 per cent at end-June 2024.
          
         It is important to note that the figures derived from this survey relate only to RMLs provided by authorized institutions on the basis of first mortgages and which the reporting institution knows to be in negative equity (i.e. the outstanding loan amount with the reporting institution exceeds the current market value of the mortgaged property). Not included in these figures are RMLs associated with co-financing schemes which would be in negative equity if the second mortgages were taken into account. The extent to which such RMLs are in negative equity is not known because authorized institutions do not maintain records on the outstanding balances of the second mortgages. 
          
         The mortgage portfolios of the surveyed authorized institutions represent about 99 per cent of the industry total. The survey results have been extrapolated to estimate the position of the banking sector as a whole. 

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Monetary Statistics for September 2024

    Source: Hong Kong Government special administrative region

    Monetary Statistics for September 2024
    Monetary Statistics for September 2024
    **************************************

    The following is issued on behalf of the Hong Kong Monetary Authority:     According to statistics published today (October 31) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.8 per cent in September 2024. Among the total, Hong Kong dollar deposits and foreign currency deposits increased by 0.9 per cent and 0.6 per cent respectively in September. In the year to end-September, total deposits and Hong Kong dollar deposits grew by 5.8 per cent and 2.5 per cent respectively. Renminbi deposits in Hong Kong increased by 0.2 per cent in September to RMB1,016.3 billion at the end of September. The total remittance of renminbi for cross-border trade settlement amounted to RMB 1,267.2 billion in September, compared with RMB1,267.9 billion in August. It should be noted that changes in deposits are affected by a wide range of factors, such as interest rate movements and fund-raising activities. It is therefore more appropriate to observe the longer-term trends, and not to over-generalise fluctuations in a single month.           Total loans and advances increased by 0.5 per cent in September, while decreased by 2.1 per cent in the year to end-September. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 0.5 per cent and 0.8 per cent respectively in September. The Hong Kong dollar loan-to-deposit ratio decreased to 78.4 per cent at the end of September from 79.3 per cent at the end of August, as Hong Kong dollar deposits increased while Hong Kong dollar loans decreased.           For the third quarter of 2024 as a whole, loans for use in Hong Kong (including trade finance) decreased by 0.8 per cent after increasing by 0.3 per cent in the previous quarter. Analysed by economic use, loans to stockbrokers increased, while loans to building, construction, property development and investment decreased.           Hong Kong dollar M2 and M3 both increased by 0.9 per cent in September and both increased by 3.0 per cent when compared to a year ago.  The seasonally-adjusted Hong Kong dollar M1 increased by 3.6 per cent in September and increased by 3.2 per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 0.6 per cent in September. Compared to a year earlier, total M2 and total M3 both increased by 8.5 per cent.            As monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal and IPO-related funding demand as well as business and investment-related activities, caution is required when interpreting the statistics.Release Schedule of Monetary Statistics in Hong Kong     The monthly release schedule of monetary statistics in Year 2025 is as follows. 

    Reference Month 
    Release Date 

    January 2025
    February 28, 2025

    February 2025
    March 31, 2025

    March 2025
    April 30, 2025

    April 2025
    May 30, 2025

    May 2025
    June 30, 2025

    June 2025
    July 31, 2025

    July 2025
    August 29, 2025

    August 2025
    September 30, 2025

    September 2025
    October 31, 2025

    October 2025
    November 28, 2025

    November 2025
    December 31, 2025

    December 2025
    January 30, 2026

     
    Ends/Thursday, October 31, 2024Issued at HKT 16:30

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Granting of banking licences

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:
     
         The Hong Kong Monetary Authority announced today (October 31) that the Monetary Authority has granted banking licences to Guanyin International Limited (GIL) and KGI Bank Co., Ltd. (KGIB) under the Banking Ordinance. The granting of these banking licences take effect today (October 31, 2024).

         GIL is incorporated in Hong Kong and is a wholly-owned subsidiary of Bank of Dongguan Co., Ltd. KGIB is incorporated in Taiwan, China. 

         After the grant of the above banking licences, the number of licensed banks in Hong Kong is 151.

    MIL OSI Asia Pacific News –

  • MIL-OSI Security: El Centro Man Admits to Threatening a DEA Agent

    Source: Office of United States Attorneys

    SAN DIEGO – Jacob Enriquez of El Centro, California pleaded guilty in federal court today, admitting that he sent a threatening email directed at a U.S. Drug Enforcement Administration agent and his family.

    Enriquez was charged on June 6, 2024. He pleaded guilty to Interstate Threatening Communication for sending a threatening and disturbing email directed at a DEA Agent. The profanity-laden email, which was sent to an email account belonging to Emergency Medical Services Agency in Imperial County, threatened to torture and kill the DEA agent and the agent’s children and made it clear that Enriquez knew where the agent lived.

    Enriquez admitted that he sent this email knowing that it would be viewed as threats of violence against the DEA agent and his family.

    Enriquez also admitted to sending threatening emails to the El Centro Police Chief and a doctor’s office in El Centro.

    “Words have consequences,” said U.S. Attorney Tara McGrath. “And the consequences of threatening others with violence is a felony conviction.”

    This case is being prosecuted by Assistant U.S. Attorneys Andrew Sherwood and Joseph Orabona.

    The defendant is scheduled to be sentenced on January 31, 2025.

    DEFENDANT                                   Case Number 24cr1330-CAB                                   

    Jacob Enriquez                                   Age: 43                                   El Centro, CA

    SUMMARY OF CHARGES

    Interstate Threatening Communication – Title 18, U.S.C., Section 875(c)

    Maximum penalty: Five years in prison, with a mandatory minimum of 15 years in prison and a $250,000 fine

    INVESTIGATING AGENCY

    Federal Bureau of Investigation

    MIL Security OSI –

  • MIL-OSI Security: Defense Contractor, Former Executive Indicted for Bribing Government Employee

    Source: Office of United States Attorneys

    SAN DIEGO – A federal grand jury has returned an indictment charging Cask Technologies, LLC and former company executive Mark Larsen with bribing a government employee to win lucrative government contracts.

    According to court records, Larsen and his subordinates at Cask gave former Naval Information Warfare Center employee James Soriano various things of value, including expensive meals, golf outings, and full-time jobs for Soriano’s close family friend and immediate family member. At the time of the conspiracy, Larsen was the director, and later the managing director, vice president, and executive vice president of Cask with offices in San Diego and Stafford, Virginia.

    In return, Soriano took official action to benefit Cask, such as steering non-competitive small business contracts to Cask and its “family” of companies; allowing Larsen and other Cask employees to draft procurement documents for various contracting efforts, including competitive procurements; and allowing Larsen and others to “ghost write” emails, official government correspondence, and performance evaluations for Soriano’s signature, all to benefit Cask and others in its “family” of companies.

    Soriano also agreed in an email exchange to “create & award” a $50 million supposedly competitive contract for services to Cask. Soriano then allowed Cask to draft the contract requirements and the price the government was expected to pay, and took other actions to ensure that Cask was awarded the “competitive” contract.

    To conceal their activities, Larsen, Cask and Soriano failed to disclose organizational conflicts of interest in relation to their contracting efforts and that Cask was affiliated to other companies in its “family” of companies, including two Native Hawaiian 8(a) companies that were subcontracting millions of dollars of work on 8(a) contracts to Cask.

    Soriano has already pleaded guilty to multiple bribery schemes, including facts related to his relationship with Larsen and Cask. He is scheduled to be sentenced in May 2025.

    “Defense contracts support our military, and as such play an important role in keeping us all safe,” said U.S. Attorney Tara K. McGrath. “Allowing bribery and corruption to dictate who obtains those important contracts undermines the system and dishonors our defense operations.”

    “This newest indictment is another constructive step toward accountability in this ongoing multi-year investigation,” said Bryan D. Denny, Special Agent in Charge for the Department of Defense Office of Inspector General, Defense Criminal Investigative Service, Western Field Office. “Mr. Larsen and Cask Technologies are accused of feeding their own greed by knowingly corrupting the government’s acquisition process and some government officials at the expense of our nation’s warfighters and taxpayers.”

    “The allegations in this case highlight the serious repercussions of undermining the integrity of the Department of the Navy’s procurement process. By prioritizing personal gain over fair competition, such actions can compromise the readiness and, potentially, the safety of our warfighters,” said Special Agent in Charge Greg Gross of the NCIS Economic Crimes Field Office. “We, alongside our investigative partners, are committed to exposing unlawful activity and restoring public trust in the systems designed to protect our nation’s security.”

    “This case demonstrates our commitment to working with our law enforcement partners to root out fraud and corruption in government contracting,” said Weston King, SBA OIG Western Region Special Agent in Charge. “These defendants are accused of working together to exploit the 8(a) program, actions that would defraud the government but also compromise the integrity of the program designed to uplift deserving entrepreneurs. I would like to thank the U.S. Attorney’s Office and law enforcement partners for their continued pursuit of justice and holding accountable those who engage in fraudulent schemes.”

    “This indictment demonstrates IRS CI’s commitment to leaving no stone unturned when we investigate DOD contract fraud,” said Special Agent in Charge Tyler Hatcher, IRS Criminal Investigation, Los Angeles Field Office. “Those who undermine the DOD contracting process put our warfighters at risk, and we will not rest on a case until we find all complicit parties and the evidence necessary to bring them to court.”

    This case is being prosecuted by Assistant U.S. Attorneys Patrick Swan and Katherine McGrath.

    DEFENDANTS                                 Case Number 24cr2111-TWR                       

    Mark Larsen                                        Age: 46                                   San Diego, CA

    Cask Technologies, LLC                                                                   Stafford, VA

    SUMMARY OF CHARGES

    Conspiracy to Commit Bribery – Title 18, U.S.C., Section 371

    Maximum penalty: Five years in prison; $250,000 fine

    Bribery – Title 18, U.S.C., Section 201

    Maximum penalty: Fifteen years in prison; $250,000 fine for an individual or $500,000 for an organization, or three times the monetary equivalent of the thing of value, whichever is greater.

    INVESTIGATING AGENCIES

    Defense Criminal Investigative Service

    Naval Criminal Investigative Service

    Small Business Administration – Office of Inspector General

    Internal Revenue Service Criminal Investigation

    Department of Health and Human Services – Office of Inspector General

    *The charges and allegations contained in an indictment or complaint are merely accusations, and the defendants are considered innocent unless and until proven guilty.

    If you have information regarding fraud, waste, or abuse relating to Department of Defense personnel or operations, please contact the DoD Hotline at 800-424-9098.

                                                                                   

    MIL Security OSI –

  • MIL-OSI Security: PRESS RELEASE BY UNITED STATES ATTORNEY RELATING TO NOVEMBER 2024 GENERAL ELECTION

    Source: Office of United States Attorneys

    Hagatña, Guam – SHAWN N. ANDERSON, United States Attorney for the Districts of Guam and the Northern Mariana Islands announced today the assignment of Assistant United States Attorneys (AUSA) who will lead the efforts of his Office in connection with the Justice Department’s nationwide Election Day Program for the upcoming November 5, 2024, general election.  AUSA Marivic P. David will serve as the District Election Officer (DEO) for the District of Guam and AUSA Eric S. O’Malley will serve as the DEO for the District of the Northern Mariana Islands. They are responsible for overseeing each district’s handling of election day complaints of voting rights concerns, threats of violence to election officials or staff, and election fraud, in consultation with Justice Department Headquarters in Washington DC.

    United States Attorney Anderson said, “Every citizen must be able to vote without interference or discrimination and to have that vote counted in a fair and free election.  Similarly, election officials and staff must be able to serve without being subject to unlawful threats of violence.  The Department of Justice will always work tirelessly to protect the integrity of the election process.”

    The Department of Justice has an important role in deterring and combatting discrimination and intimidation at the polls, threats of violence directed at election officials and poll workers, and election fraud.  The Department will address these violations wherever they occur. The Department’s longstanding Election Day Program furthers these goals and also seeks to ensure public confidence in the electoral process by providing local points of contact within the Department for the public to report possible federal election law violations.

    Federal law protects against such crimes as threatening violence against election officials or staff, intimidating or bribing voters, buying and selling votes, impersonating voters, altering vote tallies, stuffing ballot boxes, and marking ballots for voters against their wishes or without their input.  It also contains special protections for the rights of voters, and provides that they can vote free from interference, including intimidation, and other acts designed to prevent or discourage people from voting or voting for the candidate of their choice.  The Voting Rights Act protects the right of voters to mark their own ballot or to be assisted by a person of their choice (where voters need assistance because of disability or inability to read or write in English). 

    United States Attorney Anderson stated that: “The franchise is the cornerstone of American democracy.  We all must ensure that those who are entitled to the franchise can exercise it if they choose, and that those who seek to corrupt it are brought to justice. In order to respond to complaints of voting rights concerns and election fraud during the upcoming election, and to ensure that such complaints are directed to the appropriate authorities, DEOs will be on duty in this District while the polls are open.  Ms. David can be reached by the public at (671) 479-4120. Mr. O’Malley can be contacted at (670) 236-2986.”

    In addition, the FBI will have special agents available in each field office and resident agency throughout the country to receive allegations of election fraud and other election abuses on election day.  The public can contact the FBI at the following numbers:

    • Honolulu Field Office 24/7 (808) 566-4300
    • Guam Office (671) 472-7465
    • Northern Mariana Islands Office (670) 322-6934

    Complaints about possible violations of the federal voting rights laws can be made directly to the Civil Rights Division in Washington, DC by complaint form at https://civilrights.justice.gov/ or by phone at 800-253-3931.

    United States Attorney Anderson said, “Ensuring free and fair elections depends in large part on the assistance of the American electorate.  It is important that those who have specific information about voting rights concerns or election fraud make that information available to the Department of Justice.”

    Please note, however, in the case of a crime of violence or intimidation, please call 911 immediately and before contacting federal authorities. Local police has primary jurisdiction over polling places, and almost always has faster reaction capacity in an emergency.

    MIL Security OSI –

  • MIL-OSI: International Petroleum Corporation to release Third Quarter 2024 Financial and Operational Results on November 5, 2024

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 31, 2024 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) will publish its financial and operating results and related management’s discussion and analysis for the three and nine months ended September 30, 2024, on Tuesday, November 5, 2024 at 07:30 CET, followed by an audiocast at 09:00 CET.

    Listen to William Lundin, President and CEO, and Christophe Nerguararian, CFO, commenting on the third quarter 2024 financial and operating results and the latest developments from IPC.

    Follow the presentation live starting at 09:00 CET on Tuesday, November 5, 2024 on www.international-petroleum.com or using the link/dial-in details below:

    Presentation Link: ipc.videosync.fi/2024-11-05-q3

    Dial-in numbers  Canada/USA: +1 786 697 3501
      UK: +44 33 0551 0200
      Sweden: +46 8 50520424
         
    Password Quote “IPC Q3” when prompted by the operator
       

    International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm under the symbol “IPCO”.

    For further information, please contact:

    Rebecca Gordon
    SVP Corporate Planning and Investor Relations
    rebecca.gordon@international-petroleum.com
    Tel: +41 22 595 10 50

    Or

    		 Robert Eriksson
    Media Manager
    reriksson@rive6.ch
    Tel: +46 701 11 26 15

    Forward-Looking Statements
    This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

    All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

    The MIL Network –