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  • MIL-Evening Report: Islands Business publisher Samantha Magick – storyteller, risk-taker and community champion

    By Teagan Laszlo, Queensland University of Technology

    For Samantha Magick, journalism isn’t just a job. It is a lifelong commitment to storytelling, advocacy, and empowering voices often overlooked in the Pacific.

    As the managing editor and publisher at Islands Business, the Pacific Islands’ longest surviving news and business monthly magazine, Magick’s commitment to quality reporting and journalistic integrity has established her as a leading figure in the region’s news industry.

    Magick’s passion for journalism began at a young age.

    “I wanted to be a journalist when I was like 12,” Magick recalls. “When I left school, that’s all I wanted to study.”

    She remembers her family’s disapproval when she would write stories as a child, as they thought she was “sharing secrets”. Despite that early condemnation, Magick’s thriving journalism career has taken her across continents and exposed her to diverse media landscapes.

    After completing a Bachelor of Communications with a major in journalism at Charles Sturt University in Bathurst, Australia, Magick began her career at Communications Fiji Limited (CFL), a prominent Fijian commercial network.

    She progressed over 11 years from a cadet to CFL’s news director.

    Guidance of first boss
    Magick attributes some of her early success to the guidance of her first boss and CFL’s founder, William Parkinson. She considers herself fortunate to have had a supportive mentor who led by example and dared to take risks early in life, such as founding a radio station in his 20s.

    After leaving CFL, Magick’s career took her across the globe, including regional Pacific non-government organisations, news publications in Hawai’i and Indonesia, and even international legal organisations in Italy.

    Magick, who is of both Fijian and Australian heritage, returned to Suva in 2018, where she began her current role as Islands Business’s managing editor.

    “I’ve chosen to make my life in Fiji because I feel more myself here,” Magick says, reflecting on her deep connection to the island nation.

    Magick’s vision for Islands Business focuses on delving into the deeper, underlying narratives often overshadowed by breaking news cycles and free, readily available news content.

    “We need to be able to demonstrate the value of investigation, big picture reporting rather than the day-to-day stuff,” Magick says.

    Magick prides herself on creating a diverse and inclusive newsroom that reflects the communities it serves.

    Need for diverse newsroom
    “You have to have a diverse newsroom,” she emphasises, recognising the importance of amplifying marginalised voices. “For example, there is a conscious effort to make sure our magazine is not full of photos of men shaking hands with other men.”

    Magick also believes journalists have a responsibility to advocate for change, as demonstrated by Islands Business’s dedication to tackling pressing issues from climate change to media freedom.

    “Why would I give a climate change denier space?” Magick questions when discussing the need to balance objectivity and advocacy. “Because it’s kind of going to sell magazines? Because it’s going to create a bit of a stir online? That’s not something we believe in.”

    Despite her success, Magick’s career has not been without challenges. Magick worked through Fiji’s former draconian media restriction laws under the Media Industry Development Act 2010, while also navigating the shift to digital media.

    Islands Business managing editor Samantha Magick (right) with Fiji Times reporter Rakesh Kumar and chief editor Fred Wesley (centre) celebrating the repeal of the draconian Fiji media law last year . . . ““Why would I give a climate change denier space?” Image: Lydia Lewis/RNZ Pacific

    Magick emphasises the need to constantly upskill and re-evaluate strategies to ensure she and Islands Business can effectively navigate the constantly evolving media landscape.

    From learning to capitalise on social media analytics to locating reputable information sources when many of them feared to speak to the journalists due to the risk of legal retribution, Magick believes flexibility and perseverance are crucial to staying ahead in media.

    In her early career, Magick also faced sexism and misogyny in the media industry. “When I think back about the way I was treated as a young journalist, I feel sick,” Magick says as she reflects on how she and her female colleagues would warn each other against interviewing certain sources alone.

    Supporting aspiring journalists
    The challenges Magick has faced undoubtably contribute to her dedication to supporting aspiring journalists, as evident through Kite Pareti’s journey. Starting as a freelance writer with no newswriting experience in March 2022, Pareti has since progressed to one of two full-time reporters at Islands Business.

    Pareti expresses gratitude for the opportunities she’s had while working at Islands Business, and for the mentorship of Magick, whom she describes as “family”.

    “Samantha took a chance on me when I had zero knowledge on news writing,” Pareti says. “So I’m grateful to God for her life and for allowing me to experience this once-in-a-lifetime opportunity.”

    Magick reciprocates this sentiment. “Recently, I am inspired by some of our younger reporters in the field, and their ability to embrace and leverage technology — they’re teaching me.”

    Magick anticipates an exciting period ahead for Islands Business, as she aims to attract a younger, professionally driven, and regionally focused audience to their platforms.

    When asked about her aspirations for journalism in the region, Magick says she hopes to see a future where Pacific voices remain at the centre, “telling their own stories in all their diversities”.

    Teagan Laszlo was a student journalist from the Queensland University of Technology who travelled to Fiji with the support of the Australian Government’s New Colombo Plan Mobility Programme. This article is published in a partnership of QUT with Asia Pacific Report, Asia Pacific Media Network (APMN) and The University of the South Pacific.

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Africa: Malawi Accedes to the Establishment Agreement for Afreximbank’s Fund for Export Development in Africa (FEDA)

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

    KIGALI, Rwanda, October 31, 2024/APO Group/ —

    The Fund for Export Development in Africa (FEDA), the development impact investment arm of African Export-Import Bank (Afreximbank) (www.Afreximbank.com), has announced the Republic of Malawi’s accession to the FEDA Establishment Agreement.

    This key milestone reflects the Fund’s growing support across Africa, bringing the total number of participating countries in FEDA to eighteen. Malawi’s accession to FEDA highlights the Fund’s growing momentum, following the recent accession of Benin, Nigeria, Ghana, the Arab Republic of Egypt and Equatorial Guinea among others, to its membership.

    New memberships are crucial to broadening the scope of FEDA’s interventions and advancing its mission of delivering long-term capital to African economies with a focus on industrialization, intra-African trade and value-added exports. The rapid growth of FEDA reflects the strong support and confidence African states have in its mandate.

     Professor Benedict Oramah, President of Afreximbank and Chairman of the Boards of both Afreximbank and FEDA, commented: “We welcome the Republic of Malawi to the growing FEDA family. This step lays the groundwork for an enhanced and more effective cooperation and gives the country better access to the full range of interventions offered by Afreximbank Group. The dividends of Malawi’s accession are best illustrated by the launch of the Magwero Industrial Park project, being developed by Arise IIP in collaboration with Afreximbank and FEDA. The project which aims to unlock Malawi’s manufacturing export potential represents a significant investment in the country.”

    Marlène Ngoyi, Chief Executive Officer of FEDA, said: “The signing of the FEDA Establishment Agreement builds on FEDA’s investment in strategic projects in Malawi, through Arise IIP, that aim to promote industrialisation, intra-African trade and value-added exports. FEDA will continue supporting Malawi to foster an environment that promotes economic diversification and enhances value-added production.”

    FEDA’s recent key strategic investments across the continent, include a further USD300 million capital injection in Arise Integrated Industrial Platforms (Arise IIP) in October 2024, its strategic investment in Team Drogba, competing in the inaugural E1 Series, the world’s first-ever all-electric boat racing championship and the partnership with the Republic of Malawi in June 2024 to develop the Magwero Industrial Park to expedite Malawi’s industrialization process.

    MIL OSI Africa

  • MIL-OSI Europe: ASIA/CHINA – The shared spiritual retreat of 15 Chinese bishops, an experience of communion and synodality

    Source: Agenzia Fides – MIL OSI

    xinde.org

    Beijing (Agenzia Fides) – Immersed in the Mystery of the Word of God, to perceive the infinite Love and salvation of the Lord: this is the experience shared by 15 Chinese Catholic bishops who lived together the annual spiritual retreat with the theme ‘Synodality and Encounter with the Lord’.The retreat was held from 15 to 18 October at the National Seminary in Beijing.The retreat was led by priest John Baptist Zhang – founder of the digital and print communication platform Xinde.org, and also responsible for Jinde Charities, the main Catholic charitable work in China.The bishops listened to meditations on the obedience of the Virgin Mary, and how beg that the mercy and healing given by Jesus can animate the pastoral work associated with episcopal ministry.During the evening ‘Spiritual Conversations’, the bishops also openly discussed how to face and overcome the sense of loneliness that sometimes marks their condition, and also how to make an appropriate discernment in the face of the different and sometimes conflicting opinions and requests of the members of the Church community.The annual retreat of the Chinese bishops was strongly supported by the leaders of the body called the College of Chinese Bishops, led by the Bishop of Shanghai Joseph Shen Bin.The initiative manifested concern for the formation of bishops and their spiritual condition. Bishop Shen Bin also took part in the final day of the retreat and presided over the evening Eucharistic Concelebration.During the retreat, the Bishops present were able to put aside hesitations and indecisions, re-embracing with enthusiasm the mission of proclaiming the Gospel in the condition in which they find themselves. (NZ) (Agenzia Fides, 31/10/2024)
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    MIL OSI Europe News

  • MIL-OSI United Kingdom: Strathmartine Community Clean-Up

    Source: Scotland – City of Dundee

    A Strathmartine Community Clean-Up has taken place this week as part of the Take Pride in Your City campaign.

    The initiative is part of the Dundee-wide environmental effort to make a positive difference to all city neighbourhoods, parks and open areas.

    The Community Clean-Up took place in the areas around Balgowan Avenue and Beauly Square where additional works were carried out by Council staff including the removal of litter and debris, strimming, general tidying of communal areas where required as well as sweeping to path & street areas.

    Climate, Environment & Biodiversity Convener Cllr Heather Anderson said: “There is a wide variety of great work taking place in the city through the Take Pride umbrella.

    “The Community Clean-Ups have proven to be a successful addition where additional environmental work is carried out and residents can also make use of skips to dispose of their waste appropriately.

    “Council employees have listened to direct feedback from local residents in areas throughout the city to improve the condition and appearance of neighbourhoods.”

    The Community Clean-Up initiative has taken place in several areas throughout the city with further Clean-Ups planned to take place in the future as well.

    Information about upcoming Community Clean-Ups is communicated directly with residents in the areas prior to taking place.

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: UK approves use of export finance to secure critical minerals

    Source: United Kingdom – Executive Government & Departments 4

    UK Export Finance can now provide financial support for overseas projects that source critical minerals for use in major UK industries.

    Lithium, an example of a critical mineral

    • Chancellor announces availability of export credit financing to help British industries access a stable, long-term supply of critical minerals. 

    • There is high global demand for critical minerals which are increasingly vital to long-term industrial growth, emerging technology and the net zero transition. 

    The Chancellor has announced that UK Export Finance (UKEF), the government’s export credit agency, will offer financial support for overseas projects that supply critical minerals fuelling UK industrial growth and the net zero transition.  

    By securing contracts which increase and diversify UK access to critical minerals, this will help the UK to build economic resilience and lower the risk of supply-chain disruption in major industries like automotive, defence and aerospace. 

    ‘Critical minerals’ are raw materials like lithium, graphite and cobalt which are essential to the UK’s largest exporting sectors. They are used in range of emerging and sustainable technologies like electric vehicles, solar panels and wind turbines. 

    Financing will be offered in the form of credit guarantees to overseas companies, helping them access debt financing for projects which supply UK exporters with critical mineral products – including both raw and processed materials.  

    It is expected that UKEF will work with other ECAs and public financial institutions to finance eligible projects and support investment into new supply routes.   

    This would make it easier for UK manufacturers to secure contracts with critical mineral suppliers in countries with vast mineral deposits, including Australia, which holds large deposits of lithium.  

    Jonathan Reynolds, Secretary of State for Business and Trade, said: 

    There is intense global competition for critical minerals like lithium, tin and cobalt which are essential for industrial growth, British industries and our journey towards net zero. 

    As the energy transition pushes demand to new highs, this financing offer will help UK companies to get a seat at the table, build international partnerships and secure their critical mineral needs.  

    Helping exporters to access these vital resources will support UK industrial growth and our leadership in emerging technology.

    Kirsty Benham, Chief Executive Officer, Critical Minerals Association (UK), said:  

    We welcome the new export finance offering for critical minerals, which supports UK manufacturers and supply chain security. The offer demonstrates the importance of critical minerals to UK Government, and showcases the UK’s strengths as a serious buyer of these strategically important materials.  

    We look forward to working closely with UKEF and supporting the development of this offer into secure, resilient, responsible critical mineral supply chains for the UK and MSP partners.

    Sean Sargent, Chief Executive Officer, Green Lithium, added: 

    Green Lithium’s refinery in Teesside will be a future importer of critical raw materials and, following processing, a UK exporter of battery chemicals. This new export finance offering from UKEF is precisely the sort of initiative that will help UK businesses strengthen relationships with international partners and contribute to the development of stronger international supply chains, while also supporting critical minerals industrial development in the UK.  

    It is a welcome development from the UK Government, and a facility that will be of interest to several of our international supply chain partners.

    The UK government is a founding member of the US-initiated Minerals Security Partnership (MSP), which aims to help member economies secure a stable access to critical minerals. 

    Today’s announcement follows the recent launch of an MSP finance network, in which UKEF is working with other export credit agencies and financial bodies to help de-risk and increase financing for critical minerals projects.  

    UKEF has also used its existing products to support UK capability in critical minerals production. It recently announced a guarantee supporting machinery exports to one of Central Asia’s largest copper-production facilities.

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    Updates to this page

    Published 31 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: SED attends China Annual Conference & Expo for International Education in Beijing (with photo)

    Source: Hong Kong Government special administrative region

    SED attends China Annual Conference & Expo for International Education in Beijing (with photo)
    SED attends China Annual Conference & Expo for International Education in Beijing (with photo)
    ******************************************************************************************

         The Secretary for Education, Dr Choi Yuk-lin, today (October 31) attended the 25th China Annual Conference & Expo for International Education (CACIE) in Beijing to share Hong Kong’s experiences in promoting internationalisation and diversification of higher education, and promote the “Study in Hong Kong” Brand.           CACIE is a high-level and comprehensive platform for global educators to engage in dialogue and practical co-operation. Under the theme “Education for All, the Unknown and the Future”, this year’s Conference aims to forge a consensus on global education development and reform. Thousands of people from different countries and regions attended.           In her keynote speech at the plenary session of CACIE on Hong Kong’s efforts in promoting internationalisation and diversification in the higher education sector, Dr Choi said that Hong Kong has five universities funded by the University Grants Committee which are ranked among the world’s top 100. Coupled with a sound education infrastructure, outstanding research talent and strong research capabilities, Hong Kong’s reputable brand name of quality education is widely recognised and acknowledged both locally and globally.           “The Chief Executive’s 2024 Policy Address” announced the establishment of the Committee on Education, Technology and Talents to take forward the work of invigorating the country through science and education, and accelerate the building of an innovative talent pool. At the same time, the Government launched a number of key initiatives, including supporting capacity expansion and quality enhancement of local institutions; stepping up overseas publicity to attract more non-local students to study in Hong Kong; strengthening collaboration with universities from all over the world to broaden students’ international horizons; promoting synergistic development of higher education in Hong Kong and on the Mainland to complement each other’s strengths; and nurturing cross-disciplinary talent, and pressing ahead with the development of universities of applied sciences to create multiple pathways for young people.           She said that the Government has been actively supporting the establishment of alliances between higher education institutions in Hong Kong and on the Mainland to gather high-quality teaching and research resources, and to achieve mutual benefits through deepening co-operation among member institutions in areas such as scientific innovation and talent exchanges, thereby enhancing the level and standard of regional co-operation, and developments on different fronts.           During the Conference, Dr Choi exchanged views on the latest trends and developments in global education with other guests, including Vice Chairman of the Standing Committee of the 14th National People’s Congress Mr Ding Zhongli; the Governor of Victoria, Australia, Professor Margaret Gardner; Deputy Minister of Higher Education, Science and Innovations of Uzbekistan Mr Otabek Mahkamov; the Chief Executive Officer of the Institute of International Education in the United States, Dr Allan Goodman; and the Ambassador of France to China, Mr Bertrand Lortholary.           In addition, Dr Choi met representatives of Hong Kong post-secondary education institutions participating in the Expo to learn about the promotional efforts of publicly funded and self-financing institutions in expanding their international network and recruiting students from around the world to study in Hong Kong.???           Dr Choi will return to Hong Kong in the afternoon.

     
    Ends/Thursday, October 31, 2024Issued at HKT 17:43

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    MIL OSI Asia Pacific News

  • MIL-OSI: Prairie Provident Announces Closing of Rights Offering

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Oct. 31, 2024 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) (TSX:PPR) is pleased to announce the successful completion of its previously announced equity rights offering (the “Rights Offering”), which expired at 5:00 p.m. (Mountain time) on October 28, 2024.

    Prairie Provident issued an aggregate of 480,000,000 common shares of the Company (“Common Shares”) pursuant to the Rights Offering and the Standby Commitment (defined below) at a price of $0.025 per share, for aggregate gross proceeds of $12.0 million. This includes the 400,000,000 Common Shares issued in the initial closing described below. Following completion, there are 1,196,405,336 Common Shares issued and outstanding.

    As previously announced, the Company’s principal shareholder, PCEP Canadian Holdco, LLC (“PCEP”), fully exercised its basic subscription privilege under the Rights Offering to purchase 400,000,000 Common Shares in an initial closing completed on September 27, 2024, and also provided a standby commitment to purchase up to an additional 64,000,000 Common Shares not otherwise subscribed for under the Rights Offering by others (the “Standby Commitment”). In addition to the 400,000,000 Common Shares purchased on the early exercise of its basic subscription privilege, PCEP acquired 15,434,906 Common Shares under the Standby Commitment at the same subscription price of $0.025 per share. Following closing of the Rights Offering and Standby Commitment, PCEP holds 956,360,015 Common Shares, or approximately 79.9% of the total Common Shares outstanding.

    Of the 64,565,094 Common Shares purchased under the Rights Offering by shareholders other than PCEP, 41,429,021 were issued pursuant to exercise of the basic subscription privilege and 26,136,073 were issued pursuant to exercise of the additional subscription privilege. These numbers include 16,600,046 Common Shares acquired by directors and management of the Company under the Rights Offering (2,087,453 pursuant to the basic subscription privilege and 14,512,593 pursuant to the additional subscription privilege).

    No fees or commissions were paid by the Company in connection with the Rights Offering or the Standby Commitment.

    Net proceeds from the Rights Offering are expected to fund a capital program focused on drilling at least two wells in the Basal Quartz formation before the end of 2024, workovers to enhance the productivity of existing wells and general corporate purposes. A portion of the net proceeds was also used to settle a US$2.3 million advance under the Company’s second lien note facility, by way of a $3.13 million setoff (being the Canadian dollar equivalent of the advance) against the $10.0 million subscription price paid by PCEP on the early exercise of its basic subscription privilege.

    For details regarding the Rights Offering, please see Prairie Provident’s rights offering circular dated September 13, 2024, a copy of which is available under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca or from its website at www.ppr.ca.

    ABOUT PRAIRIE PROVIDENT

    Prairie Provident is a Calgary-based company engaged in the exploration and development of oil and natural gas properties in Alberta, including a position in the emerging Basal Quartz trend in the Michichi area of Central Alberta.

    For further information, please contact:

    Dale Miller, Executive Chairman
    Phone: (403) 292-8150
    Email: investor@ppr.ca

    The MIL Network

  • MIL-Evening Report: Grattan on Friday: furore over Anthony Albanese’s Qantas perks chips away at public trust in politicians

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    A major takeout from the inquiry into the national response to COVID is that a lack of trust would likely mean a less cooperative public during a future pandemic.

    Trust spiked early in the crisis, as fear ran high and people turned to known institutions and authority figures. Later, trust declined and frustrations rose, with people reacting against harsh measures.

    Criticism has grown in retrospect. In a 2024 survey, 54% said the government’s handling at the time was appropriate. This had been 80% at the pandemic’s peak. By 2024, 29% said the government had overreacted; they were more likely to rate its performance poorly than were people earlier.

    The review, by an independent panel, stressed the importance of better communication and coordination in planning for future crises. But a few wrinkles should also be considered.

    If we had another pandemic in five years, people would indeed be more resistant to restrictions. But if the next similar crisis was, say, 50 years on, the then-public’s attitude would be anyone’s guess. Trust might surge and subside in a similar pattern.

    The change in views is unsurprising. Looking back, memories of the threat fade somewhat – because overall Australia did well – while those of the restraints (some of them notable overreach) loom larger.

    The pandemic’s lift in public trust was a blip – driven by extraordinary circumstances – in a long-term decline. This decline is a serious intractable problem in our democracy, as in many other countries.

    You’d have to be super optimistic to expect a revival in trust in the foreseeable future. But if it continues to fall away, the foundations of our political institutions and our society will become shakier.

    In the United States, Donald Trump made a huge assault on people’s trust in the electoral system after he lost the 2020 presidential election. There’d be fears he would do the same if he loses next week.

    Thankfully, in Australia trust around election management remains absolutely solid. But there’s mounting concern about the corrosive effect of misinformation and disinformation in the political debate and, equally, distrust of proposals to curb these.

    The polarisation in our media is a much paler version of what we see in the US, but is still wearing away at trust.

    Distrust and cynicism are closely related, and can be fuelled by relatively small things.

    Australians have always been disrespectful of the political class. To a degree this can be positive, if it is healthy scepticism. But if it descends into a belief politicians are more likely to serve themselves than serve the public good, that pulls democracy downwards.

    Independent Helen Haines wrote this week: “in a world of aggressive lobbying, of jobs for mates, and acceptance of pork-barrelling, it is no surprise that in Australia there is diminishing trust in politics and governments”.

    The furore over Anthony Albanese obtaining Qantas upgrades, arising from Joe Aston’s just-published The Chairman’s Lounge, might be seen as small beer, as “scandals” go.

    But it raises suspicions, justified or not, in voters’ minds about decision-making. If big corporations are so cosy with politicians, are the politicians more likely to lend them sympathetic ears?

    After all, the pursuit of access and influence is behind much of the money that’s donated to politics. The same applies to privileges extended.

    Integrity is vital to trust. It didn’t pass the integrity test for Albanese to have accepted upgrades from Qantas, especially for personal travel, when he was transport minister in the former Labor government, overseeing regulation of the airline.

    After dodging for days – he said it took a long time to check his records – Albanese finally denied ever contacting then Qantas chief Alan Joyce (or other executives) to request upgrades. But, it will be asked, did a mates network mean he didn’t need to?

    Albanese is highly sensitive over the Qantas story, insisting to colleagues and others it is just a media beatup.

    The affair has chipped away at public trust not just in the prime minister but, to an extent, more generally, as scrutiny stretched to travel largesse received by opposition figures, including Peter Dutton asking to use Gina Rinehart’s plane.

    Research for the COVID inquiry showed a distrustful public wants more transparency from their politicians.

    It’s a paradox that we’ve seen an expansion of mechanisms for transparency, yet there’s the perception, and often the reality, of things being deeply opaque.

    In the upgrades affair, Albanese has made much of the fact he declared everything on his parliamentary register of interests. Yet that doesn’t get us to the core of the relationship between a senior politician and key people in an airline.

    It’s the same with the gambling industry. What has been going on behind the scenes to delay the government’s decision on gambling reform, expected months ago? We can find from the record the donations the gambling industry gave, but not the influence exerted privately.

    The increasing professionalisation of politics may have worked against trust. It distances voters from the politicians, and provides more tools for manipulating public opinion.

    This may be one reason why “community candidates”, with their grassroots campaigning, have appealed. But the apparent shyness of Simon Holmes à Court, whose Climate 200 fund donates to some of these candidates, about finding himself on the Australian Financial Review’s “covert power” list only turned more attention to the backstory of money and politics.

    Concern about integrity and trust was a driver of the Albanese government’s establishment, with much fanfare, of the National Anti-Corruption Commission (NACC). Now a scathing report released this week threatens to undermine public trust in that body.

    It followed the NACC’s decision not to investigate six people referred to it by the royal commission into Robodebt.

    Robodebt had delivered a massive blow to people’s trust in government and the public service, and it was vital full accountability was pursued.

    The NACC head, Paul Brereton, delegated the decision-making on whether to open an investigation to another commissioner, because he’d had a professional relationship with one of the people referred.

    But, in a damning report, the Inspector of the NACC found Brereton had not adequately excused himself.

    “I found that the NACC Commissioner’s involvement in the decision-making was comprehensive, before, during and after the 19 October 2023 meeting at which the substantive decision was made not to investigate the referrals,” the Inspector concluded.

    Brereton’s response has been to say mistakes happen, the important thing is to correct them, and this will be done – through the appointment of an “eminent person” to review whether the referrals should be investigated.

    Both government and opposition are declaring faith in Brereton. But crossbench senator David Pocock argues Brereton should go. Anthony Whealy, former judge and chair of the Centre for Public Integrity, told the ABC that while Brereton hadn’t committed a sackable offence, in his shoes he would step down, to protect the NACC’s reputation.

    Is that the price of maintaining trust in this institution that was supposed to help restore trust?

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

    ref. Grattan on Friday: furore over Anthony Albanese’s Qantas perks chips away at public trust in politicians – https://theconversation.com/grattan-on-friday-furore-over-anthony-albaneses-qantas-perks-chips-away-at-public-trust-in-politicians-242589

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Russia: Rosneft Day was held at Ufa State Petroleum Technological University

    Translation. Region: Russian Federation –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    Rosneft Day was held at the Company’s key partner university in the Republic of Bashkortostan, Ufa State Petroleum Technological University (USPTU). 34 subsidiaries, including 10 enterprises of Bashneft, Rosneft’s largest asset in the region, took part in the job fair and presentations.

    During the Rosneft Day, vacancies for students and graduates of universities and colleges were presented. Today, the most popular vacancies among blue-collar jobs are: oil and gas production operator, chemical analysis laboratory assistant, process unit operator, instrument operator, repairman, process unit repairman, process pump operator, commodity operator, general machine operator, electrician for repair and maintenance of electrical equipment, electric and gas welder.

    Oil refiners from Bashneft-Novoil held a quiz for students on the topic of “Oil refining and more”, the winners won tickets to the cinema. Orenburgneft held a game of “oil monopoly”. Guests of the fair could also attend a lecture on “Hydraulic fracturing – a discipline at the intersection of sciences” from RN-GRP. The master class “Career roasting” and a meeting with foreign students were held by RN-Service employees. All participants of the events received memorable souvenirs.

    Rosneft, as part of the corporate continuous education program “school – college/university – enterprise”, is implementing projects to attract talented youth and form an external personnel reserve. In the Republic of Bashkortostan, the program has been implemented for several years. This year, 49 schoolchildren entered the 10th “Rosneft-classes”. In addition, in Ufa, in pilot mode, 25 9th-grade students were enrolled in the “Rosneft-class”. The Ufa Fuel and Energy College (UTEK) acted as a partner of the pilot.

    There are six Bashneft corporate groups in Ufa State Petroleum Technical University and Ufa Energy Company in various training areas, including: oil and gas geology and geophysics, solid fuel, oil and gas processing technology, design and operation of oil and gas processing equipment, etc. In specialized groups, students combine work in production with training according to an individual schedule. Training in specialized subjects is carried out with the involvement of expert teachers from among Bashneft employees. Students also participate in career guidance and corporate events of the Company.

    In partnership with Bashneft enterprises, the following basic departments were created at USPTU: “Technologies of Petrochemical Processes”, “Welding of Oil and Gas Structures”, “Bashneft Processing”, and “Bashneft – Environmental Engineering”.

    The scientific institute “RN-BashNIPIneft” supervises 7 basic and graduating departments at USPTU. This year, the institute opened two new basic departments at the university: “Lean Technologies and Innovations in the Oil and Gas Complex” and “Oil and Gas Field Equipment for Well Operation and Repair”. Also in 2024, a new master’s program MPE Petroleum Engineering in the direction of “Oil and Gas Engineering” was opened for foreign students at the Department of “Field Pipeline Systems” of USPTU. RN-BashNIPIneft specialists teach master’s students the design, development and production of oil and gas fields on land and offshore, work in Rosneft software products, introduce innovative well drilling technologies, etc. The first students of the program were 10 applicants from Egypt, Nigeria and Cameroon.

    Ufaorgsintez annually holds the Unified Oil Refinery Cup in Oil Refining Olympiad and the Petrochemistry, Chemical Technology and Automation Olympiad for senior students at the University. In addition to certificates and gifts, winners and prize winners receive additional points that are taken into account when applying for a master’s degree at USPTU, and are also invited to interviews at Bashneft enterprises for possible employment.

    Reference:

    Ufa State Petroleum Technological University is one of the leading technical universities in Russia. With the support of the Company, a unique scientific and educational center “NK Rosneft – Ufa State Petroleum Technological University” was created there.

    Since 2001, Rosneft and USPTU have been partners in the field of training qualified personnel, scientific and innovative activities, as well as the implementation of international educational projects of the Company with Tsinghua University (PRC) and Qatar University.

    Department of Information and Advertising of PJSC NK Rosneft October 31, 2024

    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: Rosneft held the 6th scientific and practical conference on hydrogeology

    Translation. Region: Russian Federation –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    Rosneft held the 6th corporate scientific and practical conference on hydrogeology and water supply, bringing together more than 50 Russian experts in this field. The conference was traditionally organized by the Company’s scientific institute in Izhevsk.

    One of the priority tasks of the Rosneft-2030 strategy is to achieve leading positions in industrial safety, labor protection and the environment. The company pays great attention to the rational use of water resources.

    During the conference, experts discussed a number of key challenges facing the Russian oil and gas industry. The key topic of discussion was the results of the implementation of the RN-Aqua software package, developed by specialists from the Izhevsk Scientific Institute, into production. The participants noted the positive experience of working with this product, identifying areas for further expansion of its functionality.

    The conference also featured scientific and applied reports devoted to the updating and development of new areas of work and competencies in hydrogeology, as well as best practices used in the design of hydrogeological work.

    Reference:

    Since 2018, a specialized Rosneft institute for hydrogeology and water supply has been operating on the basis of the Izhevsk Scientific Institute. The institute carries out comprehensive work on hydrogeology in all regions of the Company’s operations, including all types of design and reporting documentation for water production and placement of associated water, conducts experimental filtration studies and is engaged in the development of specialized software.

    Department of Information and Advertising of PJSC NK Rosneft October 31, 2024

    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 Asia-Pac: Mortgage loans down 20.6%

    Source: Hong Kong Information Services

    The value of residential mortgage loans approved in September was $17.3 billion, a 20.6% drop compared with August, the Monetary Authority announced today.

    Mortgage loans financing primary market transactions dropped 27.2% to $5.6 billion, while those financing secondary market transactions decreased 15.4% to $10 billion.

    Loans for refinancing decreased 25.1% to $1.8 billion.

    Mortgage loans drawn down during September amounted to $15.4 billion, a 3.6% reduction from August.

    The number of mortgage applications in September dipped 15.9% month on month to 4,977.

    The outstanding value of mortgage loans increased 0.1% month on month to $1.872 trillion at the end of September.

    MIL OSI Asia Pacific News

  • MIL-OSI: Virtune Reaches 1 Billion SEK in Assets Under Management

    Source: GlobeNewswire (MIL-OSI)

    Stockholm, 31st of October 2024 – Virtune, a leading Swedish regulated crypto asset manager and issuer of exchange-traded products (ETP), announces that it has reached one billion SEK in assets under management.

    Virtune is proud to announce that it has reached a significant milestone in its growth journey by achieving 1 billion SEK in assets under management (AUM). This marks an important step in the vision of becoming the leading asset manager within crypto in the Nordics. Virtune offers 100% physically backed exchange-traded products within crypto that are available for both institutional and private investors and collaborates with industry-leading partners such as Coinbase as the custodian.

    Since its inception, Virtune has been committed to educating the market about exchange-traded products, crypto assets, the market development, and how Bitcoin and other crypto assets can form a natural part of a traditional investment portfolio. In addition to this, Virtune is driving the development of crypto assets forward by listing innovative and reliable crypto ETPs that meet the market’s demands for transparency, security, and growth. This success reflects the trust of Nordic investors and the hard work of the Virtune team.

    Virtune’s products are listed on Nasdaq Stockholm, Euronext Amsterdam, Euronext Paris, and Boerse Stuttgart. Virtune’s product portfolio today includes 12 ETPs, divided into three categories:

    Single asset ETPs that provide exposure to a single crypto asset:
    Virtune Bitcoin ETP
    Virtune XRP ETP
    Virtune Avalanche ETP
    Virtune Chainlink ETP
    Virtune Arbitrum ETP

    Staked single asset ETPs that provide exposure to a single crypto asset combined with staking for enhanced returns:
    Virtune Staked Ethereum ETP
    Virtune Staked Solana ETP
    Virtune Staked Polkadot ETP
    Virtune Staked Cardano ETP
    Virtune Staked Polygon ETP

    Index ETPs that provide exposure to a basket of 10 leading crypto assets:
    Virtune Crypto Top 10 Index ETP SEK
    Virtune Crypto Top 10 Index ETP EUR

    Christopher Kock, CEO of Virtune, comments: “Today, Virtune reached a critical milestone as we exceeded 1 billion SEK in assets under management. Since our market entry on May 15, 2023, we have been passionate and dedicated in educating the market about crypto assets as an asset class and their purpose, as well as about exchange-traded products in a professional and transparent manner. We are pleased with the strong reception in the Nordic market with accelerating interest also from Nordic institutional investors. We will continue our tireless work and the entire Virtune team is fully motivated and engaged in our mission to drive the acceptance of crypto assets forward among institutional and retail investors in the Nordics. We look forward to accelerating our growth further and achieving many more milestones ahead.”

    If you, as an (institutional) investor, are interested in meeting Virtune to discuss the possibilities with our ETPs for your asset management/discretionary asset management offering, to learn more about Virtune and/or the company’s ETPs, please do not hesitate to contact us at hello@virtune.com. You can also read more about Virtune and our ETPs on www.virtune.com and register your email address on our website to subscribe to our newsletters that covers updates on Virtune’s upcoming ETP launches and other news related to digital assets.

    Stockholm, 31st of October 2024

    Press contact

    Christopher Kock, CEO Virtune AB (Publ)
    Christopher@virtune.com
    +46 70 073 45 64

    Virtune with its headquarters in Stockholm is a fully regulated Swedish digital asset manager and issuer of crypto exchange traded products on regulated European exchanges. With regulatory compliance, strategic collaborations with industry leaders and our proficient team, we empower investors on a global level to access innovative and sophisticated investment products that are aligned with the evolving landscape of the global crypto market.

    Cryptocurrency investments are associated with high risk. Virtune does not provide investment advice. Investments are made at your own risk. Securities may increase or decrease in value, and there is no guarantee that you will recover your invested capital. Please read the prospectus, KID, terms at www.virtune.com.

    The MIL Network

  • MIL-OSI: Intermediate Capital Group plc: Holding(s) in Company (Correction)

    Source: GlobeNewswire (MIL-OSI)

    Intermediate Capital Group plc

    Holding(s) in Company (Correction)

    On 21 October 2024, it was announced that JPMorgan Chase & Co. had notified Intermediate Capital Group plc (the “Company”) that its holding had fallen below the minimum threshold for notification.

    JPMorgan Chase & Co. subsequently notified the Company on 30 October 2024 that the last notification it provided to the Company was incorrect and that its holding had not fallen below the minimum threshold for notification.

    Accordingly, the TR1 notification published on 21 October 2024 should be disregarded and shareholders should instead refer to the TR1 notification published on 20 August 2024.

    Ends

    Contacts

    Andrew Lewis
    Company Secretary, ICG plc
    +44 (0) 20 3545 1344

    Chris Hunt
    Shareholder Relations, ICG plc
    +44 (0) 20 3545 2020

    The MIL Network

  • MIL-OSI: Temenos Named a Leader in IDC MarketScapes for Digital Core Banking Platforms

    Source: GlobeNewswire (MIL-OSI)

    GRAND-LANCY, Switzerland, Oct. 31, 2024 (GLOBE NEWSWIRE) — Temenos (SIX: TEMN) today announced that it has been named a Leader in the 2024 IDC MarketScapes for Digital Core Banking Platforms in North America, EMEA and Asia Pacific.[1] Temenos attributes this recognition to the rich functionality of its core banking platform, helping banks enhance their customer experiences and increase business agility. 

    In North America, the IDC MarketScape evaluated 10 technology vendors, while the IDC MarketScapes for APAC and EMEA assessed 15 vendors each. In this competitive global landscape, Temenos is one of just two vendors to be named a Leader in all three evaluations.

    Jerry Silva, Vice President, IDC Financial Insights, said: “The Temenos Core Banking solution portfolio is a cloud-native and cloud-agnostic composable microservices-based offering. It uses a modern technology stack that can evolve to cater for new needs as they arise. This enables banks to compose, extend, and deploy banking capabilities at scale via cloud and SaaS, or to deploy on premise. The solution is used by clients all over the world and Temenos has earned a reputation for being customer-centric and collaborative.”

    Barb Morgan, Chief Product and Technology Officer, Temenos, commented: “We’re proud to be recognized by the IDC MarketScape as a market leader across multiple regions in digital core banking platforms. We believe this demonstrates the proven value of our comprehensive core banking solutions, providing banks globally with the agility they need to innovate faster and elevate the digital banking experience for their customers. We are committed to keep investing on Temenos’ core banking platform and delivering solutions that create long-term value and success for our customers.”

    The IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. The Capabilities score measures vendor go-to-market and business execution in the short-term. The Strategy score measures alignment of vendor strategies with customer requirements in a 3-5-year timeframe. Vendor market share is represented by the size of the icons.

    [1] Source: IDC MarketScape: North American Digital Core Banking Platforms 2024 Vendor Assessment (doc #US50463523, September 2024); IDC MarketScape: EMEA Digital Core Banking Platforms 2204 Vendor Assessment (doc #EUR150463623, September 2024); and IDC MarketScape: Asia Pacific Digital Core Banking Platforms 2024 Vendor Assessment (doc #AP50463723, September 2024).

    About IDC MarketScape
    IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.

    About Temenos
    Temenos (SIX: TEMN) is the world’s leading platform for composable banking, serving clients in 150 countries by helping them build new banking services and state-of-the-art customer experiences. Top performing banks using Temenos software achieve cost-income ratios almost half the industry average and returns on equity 2X the industry average. These banks’ IT spend on growth and innovation is also 2X the industry average.

    For more information, please visit www.temenos.com.

    The MIL Network

  • MIL-OSI Economics: Sectoral Deployment of Bank Credit – September 2024

    Source: Reserve Bank of India

    Data on sectoral deployment of bank credit for the month of September 20241 collected from 41 select scheduled commercial banks, accounting for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks, are set out in Statements I and II.

    On a year-on-year (y-o-y) basis, non-food bank credit2 in September 20243 grew at 14.4 per cent, as compared to 15.3 per cent a year ago.

    Highlights of the sectoral deployment of bank credit3 are given below:

    • Credit to agriculture and allied activities continued to be robust with the growth of 16.4 per cent (y-o-y) in September 2024, compared with 16.7 per cent in September 2023.

    • Credit growth to industry improved to 9.1 per cent (y-o-y) in September 2024 compared with 6.0 per cent a year ago. The improved industrial credit growth was broad-based across ‘micro & small’, ‘medium’ and ‘large’ industries. Among major industries, credit to ‘chemicals and chemical products’, ‘food processing’, ‘petroleum, coal products and nuclear fuels’, and ‘all engineering’ recorded a higher growth in September 2024 as compared to their respective growth rates a year ago, while credit growth to ‘basic metal and metal product’, and ‘textiles’ moderated.

    • Credit growth to services sector decelerated to 15.2 per cent (y-o-y) in September 2024 from 21.6 per cent a year ago, primarily due to lower growth in credit to ‘non-banking financial companies’ (NBFCs). However, within the segment, during the same period, growth (y-o-y) in credit to ‘commercial real estate’ accelerated.

    • Personal loans growth moderated to 16.4 per cent (y-o-y) in September 2024 as compared with 18.2 per cent a year ago, largely due to decline in growth in ‘other personal loans’, ‘vehicle loans’ and ‘credit card outstanding’. However, ‘housing’ – the largest constituent of this segment – recorded accelerated growth.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1407


    MIL OSI Economics

  • MIL-OSI Economics: Loose-lipped neural networks and lazy scammers

    Source: Securelist – Kaspersky

    Headline: Loose-lipped neural networks and lazy scammers

    One topic being actively researched in connection with the breakout of LLMs is capability uplift – when employees with limited experience or resources in some area become able to perform at a much higher level thanks to LLM technology. This is especially important in information security, where cyberattacks are becoming increasingly cost-effective and larger-scale, causing headaches for security teams.

    Among other tools, attackers use LLMs to generate content for fake websites. Such sites can mimic reputable organizations – from social networks to banks – to extract credentials from victims (classic phishing), or they can pretend to be stores of famous brands offering super discounts on products (which mysteriously never get delivered).

    Aided by LLMs, attackers can fully automate the creation of dozens, even hundreds of web pages with different content. Before, some specific tasks could be done automatically, such as generating and registering domain names, obtaining certificates and making sites available through free hosting services. Now, however, thanks to LLMs, scammers can create unique, fairly high-quality content (much higher than when using, say, synonymizers) without the need for costly manual labor. This, in particular, hinders detection using rules based on specific phrases. Detecting LLM-generated pages requires systems for analyzing metadata or page structure, or fuzzy approaches such as machine learning.

    But LLMs don’t always work perfectly, so if the scale of automation is large or the level of control is low, they can leave telltale indicators, or artifacts, that the model was poorly applied. Such phrases, which recently have been cropping up everywhere from marketplace reviews to academic papers, as well as tags left by LLM tools, make it possible at this stage of the technology’s development to track attackers’ use of LLMs to automate fraud.

    I’m sorry, but…

    One of the clearest signs of LLM-generated text is the presence of first-person apologies and refusals to follow instructions. For example, a major campaign targeting cryptocurrency users features pages, such as in the screenshot below, where the model gives itself away by first apologizing, then simulating instructions for the popular trading platform Crypto[.]com:

    As we see, the model refuses to perform one of the basic tasks for which LLMs are used – writing articles:

    I’m sorry, but as an AI language model, I cannot provide specific articles on demand.

    This specific example is hosted at gitbook[.]io. Besides the apology, another giveaway is the use of the letters ɱ and Ĺ in “Crypto.coɱ Ĺogin”.

    On another page targeting Metamask wallet users, hosted at webflow[.]io, we see the LLM response:

    I apologize for the previous response not meeting your word count requirement.

    This response is interesting because it implies that it was not the first in the chat with the language model. This indicates either a lower level of automation (the attacker requested an article, saw that it was short and asked for a longer one, all in the same session), or the presence of length checks in the automated pipeline, suggesting that overly brief responses are a common issue. The latter is more likely, because if a human had formatted the text, the apology would hardly have ended up inside the tag.

    Artifacts can appear not only in web page text. In one page mimicking the STON[.]fi crypto exchange, LLM apologies turned up in the meta tags:

    I’m sorry, but I don’t have enough information to generate a useful meta description without clear target keywords. Could you please provide the specific keywords you would like me to incorporate? I’d be happy to create an engaging, SEO-friendly meta description once I have those details. Just send over the keywords whenever you’re ready.

    LLMs can be used not only to generate text blocks, but entire web pages. The page above, which mimics the Polygon site (hosted at github[.]io on a lookalike subdomain with the word “bolygon”), shows a message that the model has exceeded its allowable character limit:

    Users can access a wide rangeAuthor’s Note: I apologize, but it seems like the response got cut off. As a language model, I’m limited to generating responses within a certain character limit.

    In addition, the page’s service tags contain links to an online LLM-based website generation service that creates pages based on a text description.

    In another example, on an adult clickbait page that redirects to dubious 18+ dating sites, we see a model apologize for declining to write content related to data leaks:

    I’m sorry for any misunderstanding, but as an AI developed by OpenAI, I am programmed to follow ethical guidelines, which means I cannot generate or provide content related to leaked material involving [model name] or any other individual.

    Already a meme

    The phrase-turned-meme “As an AI language model…” and its variations often pop up on scam pages, not only in the context of apologies. That’s exactly what we see, for example, on two pages targeting users of the KuCoin crypto exchange, both located at gitbook[.]us.

    In the first case, the model refuses to work as a search engine:

    As an AI developed by OpenAI, I can’t provide direct login links to third-party platforms like KuCoin or any other specific service.

    In the second, we see a slight variation on the theme – the model states that it can’t log in to websites itself:

    As an AI developed by OpenAI, I don’t have the capability to directly access or log in to specific websites like KuCoin or any other online platform.

    Bargaining stage

    Another fairly clear LLM sign is the use of “While I can’t…, I can certainly…”-type constructions.

    For instance, a page hosted at weblof[.]io reads as follows:

    While I can’t provide real-time information or direct access to specific websites, I can certainly guide you through the general steps on how to log in to a typical online platform like BitMart.

    On another page, this time at gitbook[.]us, the LLM declines to give detailed instructions on how to log in to a Gemini account:

    While I can’t provide specific step-by-step instructions, I can certainly offer a general overview of what the process might entail.

    One more page, also on gitbook[.]us, is aimed at Exodus Wallet users:

    While I cannot provide real-time information or specific details about the Exodus® Wallet login process, I can offer a comprehensive solution that generally addresses common issues related to wallet logins.

    There’s no stopping progress

    Another key sign of LLM-generated text is a message about the model’s knowledge cutoff – the date after which it no longer has up-to-date information about the world. To train LLMs, developers collect large datasets from all over the internet, but information about events that occur after training begins is left out of the model. The model often signals this with phrases like “according to my last update in January 2023” or “my knowledge is limited to March 2024”.

    For instance, the following phrase was found on a fake site mimicking the Rocket Pool staking platform:

    Please note that the details provided in this article are based on information available up to my knowledge cutoff in September 2021.

    On another scam site, this time targeting Coinbase users, we see text written by a fresher model:

    This content is entirely hypothetical, and as of my last update in January 2022, Coinbase does not have a browser extension specifically for its wallet.

    A fake page from the same campaign, but aimed at MetaMask wallet users, employs an even more recent model to generate text:

    As of my last knowledge update in January 2023, Metamask is a popular and widely used browser extension…

    Artifacts of this kind not only expose the use of LLMs to create scam web pages, but allow us to estimate both the campaign duration and the approximate time of content creation.

    Delving into an ever-evolving world

    Finally, OpenAI models have certain word preferences. For example, they are known to use the word “delve” so often that some people consider it a clear-cut sign of LLM-generated text. Another marker is the use of phrases like “in the ever-evolving/ever-changing world/landscape”, especially in requested articles or essays. Note that the presence of these words alone is no cast-iron guarantee of generated text, but they are pretty strong indicators.

    For example, one such site is hosted at gitbook[.]us and belongs to a campaign with stronger signs of LLM usage. There we see both the phrase

    In the dynamic realm of cryptocurrency

    and the classic “let’s delve” in the instructions for using a physical Ledger wallet. On another Ledger-dedicated page (this time at webflow[.]io), we find “delve” rubbing shoulders with “ever-evolving world”:

    On yet another page at gitbook[.]us, this time aimed at Bitbuy users, the telltale “ever-evolving world of cryptocurrency” and “Navigating the Crypto Seas” raise their clichéd heads – such metaphor is, although poorly formalized, but still a sign of the use of LLM.

    As mentioned above, LLM-generated text can go hand-in-hand with various techniques that hinder rule-based detection. For example, an article at gitbook[.]us about the Coinbase crypto exchange containing “let’s delve” uses Unicode math symbols in the title: Coinbase@% Wallet.

    Due to font issues, however, the browser has trouble displaying Unicode characters, so in the screenshot they look like this:

    As part of the same campaign, KuCoin was honored with yet another version of the page at gitbook[.]us. This time we see obfuscation in the title: Kucoin® Loᘜin*, as well as the less screaming but still telling “let’s explore” along with the familiar “delve”:

    we delve into the intricates of KuCoin login

    Let’s explore how you can access your account securely and efficiently

    Let’s delve into the robust security measures offered by this platform to safeguard your assets.

    Lastly, one more page in this campaign, hosted at webflow[.]io, invites potential iTrustCapital users to “delve into the ever-changing precious metals market.” In this example, “Login” is also obfuscated.

    Conclusion

    As large language models improve, their strengths and weaknesses, as well as the tasks they do well or poorly, are becoming better understood. Threat actors are exploring applications of this technology in a range of automation scenarios. But, as we see, they sometimes commit blunders that help shed light on how they use LLMs, at least in the realm of online fraud.

    Peering into the future, we can assume that LLM-generated content will become increasingly difficult to distinguish from human-written. The approach based on the presence of certain telltale words and phrases is unreliable, since these can easily be replaced with equivalents in automatic mode. Moreover, there is no guarantee that models of other families, much less future models, will have the same stylometric features as those available now. The task of automatically identifying LLM-generated text is extremely complex, especially as regards generic content like marketing materials, which are similar to what we saw in the examples. To better protect yourself against phishing, be it hand-made or machine-generated, it’s best to use modern security solutions that combine analysis of text information, metadata and other attributes to protect against fraud.

    MIL OSI Economics

  • MIL-OSI Video: | Finance Minister Enoch Godongwana presents the Medium Term Budget Policy Statement

    Source: Republic of South Africa (video statements)

    Finance Minister Enoch Godongwana presents the Medium Term Budget Policy Statement

    Stay updated, South Africa! Subscribe to The Presidency’s Channel here: https://www.youtube.com/@PresidencyZA/?sub_confirmation=1.

    Checkout more: http://www.thepresidency.gov.za

    Get Social
    Facebook ► https://www.facebook.com/PresidencyZA
    Instagram ► https://www.instagram.com/presidencyza/?hl=en
    Twitter ► @PresidencyZA

    #ThePresidencyofSouthAfrica #PresidencyZA

    https://www.youtube.com/watch?v=n3nQKxTcvxY

    MIL OSI Video

  • MIL-OSI United Kingdom: More than 400,000 customers use SLC’s digital refund service in first six months

    Source: United Kingdom – Executive Government & Departments

    Student Loans Company improves online customer experience with introduction of new digital refund service.

    A new digital refund service has been used by 418,000 customers in the first six months. As it continues to improve its customer experience, and in response to customer feedback, in May 2024, SLC introduced a new service into the online account for repayment customers.

    The simple, digital service is an easy way for customers to self-serve, requesting a below threshold refund, which is then paid directly into their bank account.

    The figure has been announced today (31 October 2024) as SLC’s issues a new statistical publication – Student loan repayments via PAYE eligible for refund – Tax Year 2023/24. The ad hoc statistical release provides more information on the total number of customers who have made repayments under the four refund scenarios, the total amount repaid, as well as the total refunds provided to customers in 23/24 tax year.

    Under the Education (Student Loans) (Repayment) Regulations, there are four refund scenarios, which the publication covers. These are:

    · Below Threshold Refunds – a correct repayment may be taken if a customer’s earnings are above the pay period threshold (e.g. due to overtime or bonus) but their total income for the year is below the annual threshold. SLC must wait until HMRC provides the customer’s annual earnings information at the end of the tax year, before a refund can be provided to eligible customers.

    · Over-repayment refunds – when a customer had paid off their loan, but an additional repayment is taken, due to the timing of pay dates and the request to stop deductions being processed at the employer side. If SLC has up-to-date bank details, a refund will be paid automatically to the customer.

    · Early repayment refunds – a customer has a repayment taken before they are required to begin repaying (a statutory date that generally occurs in April after they finish or leave their course and commence employment).

    · Wrong plan type refunds – the employer places the customer on the wrong plan type for their loan.

    Since May, £61.6m has been successfully refunded to 248,000 customers, in the below threshold refund scenario, as a result of the new refund service. To support the introduction of the new service, SLC has proactively contacted customers who are eligible for a below threshold refund* in the 23/24 tax year. From the almost 700,000 customers that have been contacted (by the end of October 2024), 75% of customers have opened the email and a third have requested a refund, after considering their own personal and financial circumstances.

    Annual earnings information is received from HMRC throughout the year, and SLC will continue to proactively communicate with customers as eligible refunds are identified.

    SLC cannot provide financial advice, and customers are urged to consider their own personal circumstances before requesting a refund. Any refund provided will be added back onto the customer’s student loan balance.

    Steven Darling, Customer Experience Director, at SLC, said: “At SLC, we want to provide the best possible customer experience, and from the feedback we receive from customers, they want to be able to self-serve in their online account.

    “With a below threshold refund being the most common reason why a customer might be eligible for a refund, we’ve made it quick and easy to request a refund through the online account. The figures in our latest report demonstrate the value of these improvements, with £61.6m being paid to 248,000 customers since May 2024.

    “I would encourage customers to keep their contact and bank details up to date in their online account to ensure they don’t miss any key communication regarding refunds.”

    Customers can read all of SLC’s guidance and refund information here, which also includes a step by step video guide of how to request a refund through their online account.

    Updates to this page

    Published 31 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Overspeed near Manor Park

    Source: United Kingdom – Executive Government & Departments

    Overspeeding of a passenger train near to Manor Park station, east London, 24 September 2024.

    FFCCTV image showing the points where the overspeeding occurred (courtesy of MTREL).

    At around 08:11 on 24 September 2024, a passenger train passed over a set of points east of Manor Park station at a speed of 45 mph (72 km/h). This was above the permitted maximum speed for these points of 25 mph (40 km/h). Passing over the points at this speed caused the train to jolt sideways.

    Although there were no reported injuries, the sudden movement of the train resulted in some passengers losing their footing and at least one passenger falling to the floor. The train did not derail during the incident and no damage was caused to the infrastructure or to the vehicles involved.

    We have undertaken a preliminary examination into the circumstances surrounding this incident. Having assessed the evidence which has been gathered to date, we have decided to publish a safety digest.

    Updates to this page

    Published 31 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Anniversary Statement: ATR 72-212 A, G-CMJM

    Source: United Kingdom – Executive Government & Departments

    Right nosewheel detached on takeoff, Edinburgh Airport, 31 October 2023

    This statement provides an update on the AAIB investigation into an accident to ATR 72-212 A, G-CMJM, at Edinburgh Airport, on 31 October 2023.

    While taking off from Edinburgh Airport, the right nose landing gear wheel detached from the aircraft.  The flight continued to its destination without any abnormal indications or adverse aircraft performance, and the missing wheel was only noticed as the aircraft taxied onto stand after landing.

    The investigation into this event is nearing completion and a final report will be issued in due course.

    Updates to this page

    Published 31 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Russia: Congratulations to Nikita Avralev on his appointment!

    Translation. Region: Russian Federation –

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

    On October 31, 2024, a graduate of the Academic Reserve program, implemented by the State University of Management by order of the Ministry of Science and Higher Education, was appointed acting rector of the Nizhny Novgorod State Linguistic University named after N.A. Dobrolyubov.

    Dear Nikita Vladimirovich! On behalf of the State University of Management, we congratulate you on your new appointment! Remember, GUU is always ready for interaction and cooperation, and its doors are open to all graduates. We wish you to successfully cope with new work tasks and worthily represent your university.

    Nikita Avralev graduated from Lobachevsky State University of Nizhny Novgorod in 2003 with a degree in Political Science. In 2021, he completed his Master’s degree in State and Municipal Administration. He holds the academic title of Associate Professor and the academic degree of Candidate of Political Sciences. He is the author of over 40 scientific papers.

    For more than 10 years, he worked at Lobachevsky State University of Nizhny Novgorod, including in leadership positions. From 2020 to 2023, he held the post of Vice-Rector for Strategic and Innovative Development of SKFU. Since April 2023 – Vice-Rector for Strategic Development of Lobachevsky State University of Nizhny Novgorod.

    Awarded with a Letter of Gratitude from the Ministry of Education and Science of Russia for his significant contribution to the development of education and conscientious work.

    Subscribe to the TG channel “Our GUU” Date of publication: 10/31/2024

    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: HSE FASHION DAYS: a series of lectures on fashion in Moscow and St. Petersburg

    Translation. Region: Russian Federation –

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

    HSE FASHION DAYS is an educational initiative of the HSE School of Art and Design, launched in winter 2024. This project includes a series of events dedicated to fashion, one of the most vibrant and dynamically developing creative areas that invariably attracts young people.

    In the last cycleHSE FASHION DAYS was attended by such experts as Igor Andreev, Nino Shamatava, Masha Fedorova, Leonid Alekseev, Anzor Kankulov, Katya Sycheva and Aleksey Bazhenov.

    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 China: Over 90 pct of foreign companies satisfied with China’s business environment: survey

    Source: People’s Republic of China – State Council News

    Over 90 pct of foreign companies satisfied with China’s business environment: survey

    BEIJING, Oct. 31 — More than 90 percent of foreign-funded companies in China are satisfied with the country’s business environment, according to a survey released on Thursday.

    The survey, carried out in the third quarter of this year among over 400 foreign businesses, also revealed that about 50 percent of the respondents said they find the Chinese market more attractive, according to Sun Xiao, spokesperson of the China Council for the Promotion of International Trade.

    Over 60 percent of the surveyed U.S. enterprises said the attraction of the Chinese market for foreign investment becomes stronger, up 15.26 percentage points quarter on quarter, said Sun.

    Sun said that about 20 percent of the surveyed foreign enterprises plan to increase investment in China, up 2.07 percentage points quarter on quarter.

    About 54.76 percent of the surveyed overseas companies choose to increase investment in China by expanding production lines or pursuing digital transformation.

    MIL OSI China News

  • MIL-OSI China: Philippine side should not tie herself to US war chariot: Defense Spokesperson 2024-10-31 “The Philippine government needs to listen to the voices of its people, fully recognize the high sensitivity and grave consequences of this issue, and stop such dangerous behavior which will hurt others as well as herself,” said Senior Colonel Zhang Xiaogang.

    Source: People’s Republic of China – Ministry of National Defense 2

      BEIJING, Oct. 31 — “The Philippine government needs to listen to the voices of its people, fully recognize the high sensitivity and grave consequences of this issue, and stop such dangerous behavior which will hurt others as well as herself,” said Senior Colonel Zhang Xiaogang, spokesperson for China’s Ministry of National Defense, at a regular press conference on Thursday.

      It is reported that the Chairman of the Philippine Senate Foreign Relations Committee openly opposed the US’s deployment of Typhon mid-range missile system in the Philippines during her attendance at a recent media forum. When being asked to comment on such report, the Chinese defense spokesperson made the above remarks.

      He pointed that China has repeatedly expressed firm opposition to the US’s deployment of mid-range missile system in the Philippines. “The US has withdrawn from the Intermediate-Range Nuclear Forces Treaty, developed Typhon mid-range missile system, and used it as a tool to maintain its hegemony,” stressed the spokesperson.

      Furthermore, according to the spokesperson, the US has made willful deployment and stirred up troubles, which increased the risk of war in the region. It has been proven time and again that the US is a real saboteur to peace and a troublemaker.

      The spokesperson also pointed out that in fact, many people in the Philippines oppose the US’s deployment of Typhon mid-range missile system. “The Philippine government should not tie herself to the US war chariot and end up being cannon fodders”, urged the spokesperson.

    loading…

    MIL OSI China News

  • MIL-OSI Asia-Pac: Contractors fined for violation of safety legislation

    Source: Hong Kong Government special administrative region

         Aggressive Construction Engineering Limited, High Grade Engineering Limited and a contractor were fined $36,000, $43,000 and $35,000 respectively at Kwun Tong Magistrates’ Courts today (October 31). The prosecutions were launched by the Labour Department.
          
         Aggressive Construction Engineering Limited violated the Factories and Industrial Undertakings Ordinance (FIUO), the Construction Sites (Safety) Regulations (CSSR) and the Factories and Industrial Undertakings (Safety Management) Regulation, whereas High Grade Engineering Limited and the other contractor violated the FIUO and the CSSR.
          
         The case involved a fatal accident that occurred on December 14, 2022, at a construction site in Yau Tong. A worker, while dismantling an I-beam mounted on a wall, was struck and killed by the suddenly collapsed I-beam. 

         The Labour Department is examining the sentences and considering further actions.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Ombudsman commends public organisations and public officers for exemplary service and puts forward three strategic focuses to enhance public administration (with photos)

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Office of The Ombudsman:

         At the 27th Presentation Ceremony of The Ombudsman’s Awards today (October 31), The Ombudsman, Mr Jack Chan, presented the Grand Award to the Hong Kong Fire Services Department (FSD), an Award for Public Organisation to both the Social Welfare Department (SWD) and the Water Supplies Department (WSD), the Award on Mediation to the Housing Department (HD), the Customer Services Award to the Immigration Department (ImmD), and the Information Technology Application and Creativity Award to the Hospital Authority (HA). Individual Awards were also given to 79 public officers.

         Mr Chan commended the award-winning organisations and public officers for their proactive use of mediation, their endeavours in achieving synergy through interdepartmental collaboration, and their positive attitude in complaint handling. During the ceremony, Mr Chan also discussed the three strategic focuses put forward since he assumed office: The Office of The Ombudsman will go full steam ahead with the use of mediation to resolve complaints from the public, promote interdepartmental collaboration, and instil a positive complaint culture in society. Mr Chan said, “With concerted efforts, we will definitely meet the objectives of improving people’s livelihood, fostering harmonious development in our society and raising the quality standards of public administration.”

         This year’s recipient of the Grand Award, the FSD, has committed to providing effective fire and ambulance services for years. In 2023-24, 94 per cent of fire and ambulance calls were handled within the targeted response time, which is a standard higher than the performance pledge. The FSD’s dedication and professionalism in protecting public life and property are essential for ensuring the normal operation of society. The Department has also been proactive in promoting fire safety and public education on first aid.

         â€‹The SWD has been positive and practical in handling complaints. In response to the Office’s inquiries and investigations, the SWD has been active and efficient in providing comprehensive and useful information. In the Office’s direct investigation operation regarding the Pilot Scheme on Community Care Service Voucher for the Elderly, the SWD fully co-operated and was willing to accept and implement all of the Office’s recommendations.

         The WSD has maintained its performance pledge to adopt a customer-oriented approach in providing services. The Department’s complaint handling shows its conscious efforts to provide clear, prompt and detailed replies. WSD staff explain complicated technical issues to the public in plain language and are forthcoming in providing details to the Office to account for incidents. The WSD’s positive attitude has enabled the Office to process complaints efficiently.

         The HD received the Award on Mediation this year. The HD has actively used mediation as a mode of complaint handling. On many occasions, HD staff have suggested using mediation to quickly resolve fundamental problems leading to complaints and have made practical recommendations to address complainants’ discontent.

         The Office has introduced two new awards this year: the Customer Services Award and the Information Technology Application and Creativity Award. 

         The ImmD is the first winning department of the Customer Services Award. Throughout the years, the ImmD has worked hard to provide services that best suit public needs, such as introducing the e-Channel Service and conducting the Territory-wide Identity Card Replacement Exercise. The procedures for applying for services and collecting documents are simple, flexible and efficient.  

         The HA is the first recipient of the Information Technology Application and Creativity Award. The HA spares no effort in exploring innovation methods and technology to enhance service quality and improve patients’ experiences. Such efforts of the HA can be seen in the launch and ongoing improvement of the “HA Go” app, and the extended coverage of the Medication Delivery Service to all specialist clinics to provide more efficient and convenient services to the public.   

         At the presentation ceremony, Mr Chan also commended recipients of the Individual Awards and recognised their contributions. He said, “Government departments and public organisations rely on their committed and diligent staff to provide quality public service. This year, 79 public officers received the Individual Awards, which is a record high.  I am very pleased to see that more officers are being commended for their professional and excellent services. They have earned recognition and commendation from the general public, their respective departments or organisations, as well as my Office.” 

         A full list of the recipients of the Individual Awards this year and the experiences and thoughts from some of them about receiving these awards can be found in Appendices 1 and 2 respectively.

         The Ombudsman’s Awards Scheme was introduced in 1997. In 1999, the Scheme was extended to honour individual public officers. In 2018, an additional Award on Mediation for a public organisation was introduced. In 2024, two new awards, namely the Customer Services Award and the Information Technology Application and Creativity Award, were added.      

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Hong Kong Customs shuts down underground cigarette factory and seizes tobacco products worth about $22 million (with photos)

    Source: Hong Kong Government special administrative region

    Hong Kong Customs shuts down underground cigarette factory and seizes tobacco products worth about $22 million (with photos)
    Hong Kong Customs shuts down underground cigarette factory and seizes tobacco products worth about $22 million (with photos)
    ******************************************************************************************

         Hong Kong Customs launched an anti-illicit cigarette operation on October 29, shutting down an underground cigarette factory in Tuen Mun. A total of about 3.3 million of suspected illicit cigarettes and about 1 100 kilograms of suspected duty-not-paid manufactured tobacco, with a total estimated market value of about $22 million and a duty potential of about $15 million, were seized.           Based on intelligence analysis, Customs identified an industrial building unit in Tuen Mun for an in-depth investigation. On the evening of October 29, Customs officers intercepted and arrested four men and three women, aged between 35 and 63, outside the unit. Six of them were suspected illegal workers. In addition, an illegal cigarette production line was found in the unit, which included a number of machines for producing and packaging illicit cigarettes, as well as a large amount of raw materials used for manufacturing illicit cigarettes. After counting, Customs seized about 3.3 million of suspected illicit cigarettes and about 1 100kg of suspected duty-not-paid manufactured tobacco at the scene, dismantling an underground cigarette factory exploiting illegal workers.           The seven arrested persons have been charged with “dealing with goods to which the Dutiable Commodities Ordinance applies” and will appear at the Tuen Mun Magistrates’ Courts tomorrow (November 1). Customs will continue to trace the source of the batch of raw materials of the illicit cigarettes and the production line-related machines. The likelihood of further arrests is not ruled out.           Customs reminds citizens that they must be vigilant when purchasing cigarettes. They should patronise reputable merchants or stores and not purchase cigarettes from unknown sources to avoid threats to their health.           Under the Dutiable Commodities Ordinance, a person shall not, except under and in accordance with a licence, manufacture tobacco. Also, anyone involved in dealing with, possession of, selling or buying illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $1 million and imprisonment for two years.           Members of the public may report any suspected illicit cigarette activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (https://eform.cefs.gov.hk/form/ced002/).

     
    Ends/Thursday, October 31, 2024Issued at HKT 18:13

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI: Bybit Card in The Pocket: Physical Card Applications Now Open in Argentina With Welcome Offer

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Oct. 31, 2024 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be unveiling its first physical Mastercard debit card for Bybit users in Argentina. From now to Dec. 31, 2024, new applicants may unlock up to 30,000 ARS in bonuses for card spendings upon the first 100 USDT in deposit. The welcome offer is available for residents in Argentina.

    Seamlessly bridging digital assets with real-world spending, the Bybit Card has quickly become the preferred choice for Argentina’s crypto community. Starting today, virtual Bybit Card holders in Argentina can apply for the physical card through their accounts within a few clicks. For new users who have not experienced the virtual card and missed the early-bird registration period, now is the time to apply for both the virtual and the physical cards. 

    Argentina has emerged as one of the leading markets for digital assets in Latin America, topping the list of regional crypto inflows. According to a recent Chainalysis report, users in Argentina deposited $91 billion worth of crypto between July 2023 and June 2024—the highest amount in the region.

    With the Bybit physical card, users can unlock the full benefits of online and offline spending, accessing over 90 million merchants worldwide through the Mastercard network. The card offers an easy, global payment solution backed by Bybit’s support for major cryptocurrencies and 24/7 customer service. It also comes with a range of perks:

    • Free issuance and delivery
    • Zero annual fees or hidden charges
    • 2% cashback in USDT
    • Up to 8% APR on crypto holdings
    • 30,000 ARS bonus rewards for a limited time only

    “We were encouraged by the warm Argentinian welcome since the Bybit Card made its local debut in July. Three months in, our virtual card has been well loved by the vast majority of Bybit users in Argentina, and we are excited to give users access to the physical version for added flexibility,” said Joan Han, Sales and Marketing Director of Bybit. “Bybit is dedicated to building communities beyond a transactional experience, and we hope a Bybit branded card our users can hold in their hands will bring us closer with a sense of touch and added convenience,” she added.

    The Bybit Card offers a seamless and effortless way for Argentinian users to spend their crypto on everyday purchases while taking full advantage of its rewards and exclusive benefits. Argentinian users can expect more upcoming features and perks with the physical card, including ATM withdrawals and other rewards campaigns in future. The product aligns with Bybit’s mission to foster crypto adoption and create meaningful value for the community.

    Users can find out more about the Bybit Card for residents in Argentina: Bybit Card – Argentina 

    #Bybit / #TheCryptoArk

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

    For more details about Bybit, please visit Bybit Press 

    For media inquiries, please contact: media@bybit.com

    For more information, please visit: https://www.bybit.com

    For updates, please follow: Bybit’s Communities and Social Media

    Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

    Contact

    Head of PR 
    Tony Au 
    Bybit 
    tony.au@bybit.com

    The MIL Network

  • MIL-OSI: Bilibili Inc. to Report Third Quarter 2024 Financial Results on Thursday, November 14, 2024

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, Oct. 31, 2024 (GLOBE NEWSWIRE) — Bilibili Inc. (“Bilibili” or the “Company”) (NASDAQ: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced that it will report its third quarter 2024 unaudited financial results on Thursday, November 14, 2024, before the open of U.S. markets.

    The Company’s management will host an earnings conference call at 7:00 AM U.S. Eastern Time on November 14, 2024 (8:00 PM Beijing/Hong Kong Time on November 14, 2024). Details for the conference call are as follows:

    All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers and a personal PIN, which will be used to join the conference call.

    Additionally, a live webcast of the conference call will be available on the Company’s investor relations website at http://ir.bilibili.com, and a replay of the webcast will be available following the session.

    About Bilibili Inc.

    Bilibili is an iconic brand and a leading video community with a mission to enrich the everyday lives of young generations in China. Bilibili offers a wide array of video-based content with All the Videos You Like as its value proposition. Bilibili builds its community around aspiring users, high-quality content, talented content creators and the strong emotional bonds among them. Bilibili pioneered the “bullet chatting” feature, a live comment function that has transformed our users’ viewing experience by displaying the thoughts and feelings of audience members viewing the same video. The Company has now become the welcoming home of diverse interests among young generations in China and the frontier for promoting Chinese culture across the world.

    For more information, please visit: http://ir.bilibili.com.

    For investor and media inquiries, please contact:

    In China:

    Bilibili Inc.
    Juliet Yang
    Tel: +86-21-2509-9255 Ext. 8523
    E-mail: ir@bilibili.com

    Piacente Financial Communications
    Helen Wu
    Tel: +86-10-6508-0677
    E-mail: bilibili@tpg-ir.com

    In the United States:

    Piacente Financial Communications
    Brandi Piacente
    Tel: +1-212-481-2050
    E-mail: bilibili@tpg-ir.com

    The MIL Network

  • MIL-OSI: Radware Reports Third Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Third Quarter 2024 Financial Results and Highlights

    • Revenue of $69.5 million, an increase of 13% yearoveryear
    • Cloud ARR of $71.6 million, an increase of 15% year-over-year
    • Non-GAAP diluted EPS of $0.23 vs. $0.07 in Q3 2023; GAAP diluted EPS of $0.07 vs. $(0.16) in Q3 2023
    • Cash flow from operations of $14.7 million and $58.9 million year-to-date

    TEL AVIV, Israel, Oct. 31, 2024 (GLOBE NEWSWIRE) — Radware® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, today announced its consolidated financial results for the third quarter ended September 30, 2024.

    “We are pleased to report solid third-quarter results, highlighted by 13% year-over-year revenue growth and a significant improvement in profitability and cash flow from operations,” said Roy Zisapel, Radware’s President and CEO. “Our results reflect double-digit growth in subscription revenue, strong sales of software subscriptions, and the ongoing success of DefensePro X, which carries with it more subscription revenue. We are excited about the momentum we’ve built and our future growth prospects.”

    Financial Highlights for the Third Quarter 2024
    Revenue for the third quarter of 2024 totaled $69.5 million:

    • Revenue in the Americas region was $27.7 million for the third quarter of 2024, an increase of 11% from $24.9 million in the third quarter of 2023.
    • Revenue in the Europe, Middle East, and Africa (“EMEA”) region was $25.2 million for the third quarter of 2024, an increase of 30% from $19.3 million in the third quarter of 2023.
    • Revenue in the Asia-Pacific (“APAC”) region was $16.6 million for the third quarter of 2024, a decrease of 5% from $17.4 million in the third quarter of 2023.

    GAAP net income for the third quarter of 2024 was $3.1 million, or $0.07 per diluted share, compared to GAAP net loss of $6.9 million, or $(0.16) per diluted share, for the third quarter of 2023.

    Non-GAAP net income for the third quarter of 2024 was $10.2 million, or $0.23 per diluted share, compared to non-GAAP net income of $2.9 million, or $0.07 per diluted share, for the third quarter of 2023.

    As of September 30, 2024, the Company had cash, cash equivalents, short-term and long-term bank deposits, and marketable securities of $411.7 million. Cash flow from operations was $14.7 million in the third quarter of 2024.

    Non-GAAP results are calculated excluding, as applicable, the impact of stock-based compensation expenses, amortization of intangible assets, litigation costs, acquisition costs, restructuring costs, exchange rate differences, net on balance sheet items included in financial income, net, and tax-related adjustments. A reconciliation of each of the Company’s non-GAAP measures to the most directly comparable GAAP measure is included at the end of this press release.

    Conference Call
    Radware management will host a call today, October 31, 2024, at 8:30 a.m. EDT to discuss its third quarter 2024 results and fourth quarter 2024 outlook. To participate on the call, please use the following numbers:
    U.S. participants call toll free: 888-510-2008
    International participants call: 1 646-960-0306
    Conference ID: 1864701

    A replay will be available for two days, starting two hours after the end of the call, on telephone number +1-609-800-9099 or (US toll-free) 800-770-2030. Passcode 1864701.

    The call will be webcast live on the Company’s website at: http://www.radware.com/IR/. The webcast will remain available for replay during the next 12 months.

    Use of Non-GAAP Financial Information and Key Performance Indicators
    In addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), Radware uses non-GAAP measures of gross profit, research and development expense, selling and marketing expense, general and administrative expense, total operating expenses, operating income, financial income, net, income before taxes on income, taxes on income, net income and diluted earnings per share, which are adjustments from results based on GAAP to exclude, as applicable, stock-based compensation expenses, amortization of intangible assets, litigation costs, acquisition costs, restructuring costs, exchange rate differences, net on balance sheet items included in financial income, net, and taxrelated adjustments. Management believes that exclusion of these charges allows for meaningful comparisons of operating results across past, present, and future periods. Radware’s management believes the non-GAAP financial measures provided in this release are useful to investors for the purpose of understanding and assessing Radware’s ongoing operations. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is included with the financial information contained in this press release. Management uses both GAAP and non-GAAP financial measures in evaluating and operating the business and, as such, has determined that it is important to provide this information to investors.

    Annual recurring revenue (“ARR”) is a key performance indicator defined as the annualized value of booked orders for term-based cloud services, subscription licenses, and maintenance contracts that are in effect at the end of a reporting period. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. ARR is not a forecast of future revenue, which can be impacted by contract start and end dates and renewal rates and does not include revenue reported as perpetual license or professional services revenue in our consolidated statement of operations. We consider ARR a key performance indicator of the value of the recurring components of our business.

    Safe Harbor Statement

    This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, and the tensions between China and Taiwan; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; a shortage of components or manufacturing capacity could cause a delay in our ability to fulfill orders or increase our manufacturing costs; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cyber security and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors, or by a critical system failure; outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns, such as the COVID-19 pandemic; our net losses in the past two years and possibility we may incur losses in the future; a slowdown in the growth of the cyber security and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.

    About Radware
    Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.

    Radware encourages you to join our community and follow us on: Facebook, LinkedIn, Radware Blog, X, YouTube, and Radware Mobile for iOS.

    ©2024 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

    Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

    The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

    CONTACTS
    Investor Relations:
    Yisca Erez, +972-72-3917211, ir@radware.com

    Media Contact:
    Gerri Dyrek, gerri.dyrek@radware.com

    Radware Ltd.
    Condensed Consolidated Balance Sheets
    (U.S. Dollars in thousands)
           
      September 30,   December 31,
      2024   2023
      (Unaudited)   (Unaudited)
    Assets      
           
    Current assets      
    Cash and cash equivalents 115,416   70,538
    Marketable securities 94,809   86,372
    Short-term bank deposits 111,998   173,678
    Trade receivables, net 19,963   20,267
    Other receivables and prepaid expenses 9,891   9,529
    Inventories 13,543   15,544
      365,620   375,928
           
    Long-term investments      
    Marketable securities 30,991   33,131
    Long-term bank deposits 58,468  
    Other assets 2,104   2,166
      91,563   35,297
           
           
    Property and equipment, net 16,499   18,221
    Intangible assets, net 12,742   15,718
    Other long-term assets 35,312   37,967
    Operating lease right-of-use assets 18,433   20,777
    Goodwill 68,008   68,008
    Total assets 608,177   571,916
           
    Liabilities and equity      
           
    Current liabilities      
    Trade payables 6,551   4,298
    Deferred revenues 109,924   105,012
    Operating lease liabilities 4,333   4,684
    Other payables and accrued expenses 46,427   41,021
      167,235   155,015
           
    Long-term liabilities      
    Deferred revenues 65,916   60,499
    Operating lease liabilities 13,658   16,020
    Other long-term liabilities 14,173   17,108
      93,747   93,627
           
    Equity      
    Radware Ltd. equity      
    Share capital 749   742
    Additional paid-in capital 548,240   529,209
    Accumulated other comprehensive income 593   77
    Treasury stock, at cost (366,588)   (365,749)
    Retained earnings 123,398   119,812
    Total Radware Ltd. shareholder’s equity 306,392   284,091
           
    Non–controlling interest 40,803   39,183
           
    Total equity 347,195   323,274
           
    Total liabilities and equity 608,177   571,916
           
    Radware Ltd.
    Condensed Consolidated Statements of Income (Loss)

    (U.S Dollars in thousands, except share and per share data) 
                     
        For the three months ended   For the nine months ended
        September 30,   September 30,
        2024   2023   2024   2023
        (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
                     
    Revenues   69,488   61,612   201,849   196,260
    Cost of revenues   13,392   12,838   39,260   38,886
    Gross profit   56,096   48,774   162,589   157,374
                     
    Operating expenses, net:                
    Research and development, net   18,654   20,614   56,251   62,905
    Selling and marketing   30,500   30,532   89,945   94,368
    General and administrative   6,948   7,824   21,271   24,378
    Total operating expenses, net   56,102   58,970   167,467   181,651
                     
    Operating loss   (6)   (10,196)   (4,878)   (24,277)
    Financial income, net   4,957   3,778   12,982   10,688
    Income (loss) before taxes on income   4,951   (6,418)   8,104   (13,589)
    Taxes on income   1,807   433   4,518   2,151
    Net income (loss)   3,144   (6,851)   3,586   (15,740)
                     
    Basic net income (loss) per share attributed to Radware Ltd.’s shareholders   0.07   (0.16)   0.09   (0.36)
                     
    Weighted average number of shares used to compute basic net income (loss) per share   41,956,001   42,261,637   41,854,984   43,232,405
                     
    Diluted net income (loss) per share attributed to Radware Ltd.’s shareholders   0.07   (0.16)   0.08   (0.36)
                     
    Weighted average number of shares used to compute diluted net income (loss) per share   43,573,161   42,261,637   43,199,279   43,232,405
                     
      Radware Ltd.
    Reconciliation of GAAP to Non-GAAP Financial Information
    (U.S Dollars in thousands, except share and per share data)
                     
        For the three months ended   For the nine months ended
        September 30,   September 30,
        2024   2023   2024   2023
        (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
    GAAP gross profit 56,096   48,774   162,589   157,374
      Share-based compensation 81   177   240   403
      Amortization of intangible assets 992   992   2,976   2,976
    Non-GAAP gross profit 57,169   49,943   165,805   160,753
                     
    GAAP research and development, net 18,654   20,614   56,251   62,905
      Share-based compensation 1,421   2,064   4,679   6,200
    Non-GAAP Research and development, net 17,233   18,550   51,572   56,705
                     
    GAAP selling and marketing 30,500   30,532   89,945   94,368
      Share-based compensation 2,548   2,134   7,708   9,065
      Restructuring costs   1,273     1,273
    Non-GAAP selling and marketing 27,952   27,125   82,237   84,030
                     
    GAAP general and administrative 6,948   7,824   21,271   24,378
      Share-based compensation 2,008   2,884   6,480   9,483
      Acquisition costs 159   211   571   769
    Non-GAAP general and administrative 4,781   4,729   14,220   14,126
                     
    GAAP total operating expenses, net 56,102   58,970   167,467   181,651
      Share-based compensation 5,977   7,082   18,867   24,748
      Acquisition costs 159   211   571   769
      Restructuring costs   1,273     1,273
    Non-GAAP total operating expenses, net 49,966   50,404   148,029   154,861
                     
    GAAP operating loss (6)   (10,196)   (4,878)   (24,277)
      Share-based compensation 6,058   7,259   19,107   25,151
      Amortization of intangible assets 992   992   2,976   2,976
      Acquisition costs 159   211   571   769
      Restructuring costs   1,273     1,273
    Non-GAAP operating income (loss) 7,203   (461)   17,776   5,892
                     
    GAAP financial income, net 4,957   3,778   12,982   10,688
      Exchange rate differences, net on balance sheet items included in financial income, net (86)   37   (231)   (770)
    Non-GAAP financial income, net 4,871   3,815   12,751   9,918
                     
    GAAP income (loss) before taxes on income 4,951   (6,418)   8,104   (13,589)
      Share-based compensation 6,058   7,259   19,107   25,151
      Amortization of intangible assets 992   992   2,976   2,976
      Acquisition costs 159   211   571   769
      Restructuring costs   1,273     1,273
      Exchange rate differences, net on balance sheet items included in financial income, net (86)   37   (231)   (770)
    Non-GAAP income before taxes on income 12,074   3,354   30,527   15,810
                     
    GAAP taxes on income 1,807   433   4,518   2,151
      Tax related adjustments 62   62   185   185
    Non-GAAP taxes on income 1,869   495   4,703   2,336
                     
    GAAP net income (loss) 3,144   (6,851)   3,586   (15,740)
      Share-based compensation 6,058   7,259   19,107   25,151
      Amortization of intangible assets 992   992   2,976   2,976
      Acquisition costs 159   211   571   769
      Restructuring costs   1,273     1,273
      Exchange rate differences, net on balance sheet items included in financial income, net (86)   37   (231)   (770)
      Tax related adjustments (62)   (62)   (185)   (185)
    Non-GAAP net income 10,205   2,859   25,824   13,474
                     
    GAAP diluted net income (loss) per share 0.07   (0.16)   0.08   (0.36)
      Share-based compensation 0.14   0.17   0.45   0.57
      Amortization of intangible assets 0.02   0.03   0.07   0.07
      Acquisition costs 0.00   0.00   0.01   0.02
      Restructuring costs 0.00   0.03   0.00   0.03
      Exchange rate differences, net on balance sheet items included in financial income, net (0.00)   0.00   (0.01)   (0.02)
      Tax related adjustments (0.00)   (0.00)   (0.00)   0.00
    Non-GAAP diluted net earnings per share 0.23   0.07   0.60   0.31
                     
                     
    Weighted average number of shares used to compute non-GAAP diluted net earnings per share 43,573,161   43,163,159   43,199,279   44,058,549
                   
    Radware Ltd.
     Condensed Consolidated Statements of Cash Flow
    (U.S. Dollars in thousands)
                     
        For the three months ended   For the nine months ended
        September 30,   September 30,
        2024   2023   2024   2023
        (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
    Cash flow from operating activities:                
                     
    Net income (loss)   3,144   (6,851)   3,586   (15,740)
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:                
    Depreciation and amortization   2,947   3,025   8,918   9,216
    Share-based compensation   6,058   7,259   19,107   25,151
    Amortization of premium, accretion of discounts and accrued interest on marketable securities, net   (234)   161   (227)   1,116
    Loss related to securities, net         244
    Increase (decrease) in accrued interest on bank deposits   (814)   (2,289)   4,645   (3,814)
    Increase (decrease) in accrued severance pay, net   147   (401)   106   (506)
    Decrease in trade receivables, net   5,536   4,448   304   5,380
    Decrease (increase) in other receivables and prepaid expenses and other long-term assets   749   (215)   1,155   (2,541)
    Decrease (increase) in inventories   253   (671)   2,001   (1,566)
    Increase (decrease) in trade payables   2,474   (1,778)   2,253   (395)
    Increase (decrease) in deferred revenues   (6,059)   (12,311)   10,329   (11,095)
    Increase (decrease) in other payables and accrued expenses   259   644   7,052   (10,798)
    Operating lease liabilities, net   248   (804)   (369)   (805)
    Net cash provided by (used in) operating activities   14,708   (9,783)   58,860   (6,153)
                     
    Cash flows from investing activities:                
                     
    Purchase of property and equipment   (1,412)   (1,130)   (4,220)   (4,493)
    Proceeds from other long-term assets, net   46   29   40   77
    Proceeds from (investment in) bank deposits, net   9,731   21,145   (1,433)   51,345
    Investment in, redemption of and purchase of marketable securities, net   5,541   2,228   (4,456)   347
    Net cash provided by (used in) investing activities   13,906   22,272   (10,069)   47,276
                     
    Cash flows from financing activities:                
                     
    Proceeds from exercise of share options       3   308
    Repurchase of shares     (20,648)   (839)   (53,131)
    Payment of contingent consideration related to acquisition     (2,063)   (3,077)   (2,063)
    Net cash used in financing activities     (22,711)   (3,913)   (54,886)
                     
    Increase (decrease) in cash and cash equivalents   28,614   (10,222)   44,878   (13,763)
    Cash and cash equivalents at the beginning of the period   86,802   42,644   70,538   46,185
    Cash and cash equivalents at the end of the period   115,416   32,422   115,416   32,422
                     
      Radware Ltd.
    RECONCILIATION OF GAAP NET INCOME (LOSS) TO EBITDA AND ADJUSTED EBITDA (NON-GAAP)

    (U.S Dollars in thousands)
                     
        For the three months ended   For the nine months ended
        September 30,   September 30,
        2024   2023   2024   2023
        (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
    GAAP net income (loss) 3,144   (6,851)   3,586   (15,740)
      Exclude: Financial income, net (4,957)   (3,778)   (12,982)   (10,688)
      Exclude: Depreciation and amortization expense 2,947   3,025   8,918   9,216
      Exclude: Taxes on income 1,807   433   4,518   2,151
    EBITDA 2,941   (7,171)   4,040   (15,061)
                     
      Share-based compensation 6,058   7,259   19,107   25,151
      Restructuring costs   1,273     1,273
      Acquisition costs 159   211   571   769
    Adjusted EBITDA 9,158   1,572   23,718   12,132
                     
                     
        For the three months ended   For the nine months ended
        September 30,   September 30,
        2024   2023   2024   2023
      Amortization of intangible assets 992   992   2,976   2,976
      Depreciation 1,955   2,033   5,942   6,240
        2,947   3,025   8,918   9,216
                     

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