Blog

  • MIL-OSI Asia-Pac: 7 care homes added to GD scheme

    Source: Hong Kong Information Services

    The Social Welfare Department announced today that seven additional residential care homes for the elderly in Guangdong will become Recognised Service Providers under the Residential Care Services Scheme in Guangdong from November 1 to provide subsidised care and attention places for seniors joining the scheme.

    These care homes are located in Guangzhou, Foshan and Zhongshan. Five of them are operated by Mainland organisations and the other two are operated under a partnership formed by Hong Kong organisations and Mainland elderly service operators.

    Together with the two care homes in Shenzhen, and one each in Foshan and Zhaoqing, the number of care homes registered under the scheme will increase to 11 in five Mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area to provide more choice for seniors with an interest in retiring in Mainland cities in the bay area.

    Click here for details of the Residential Care Services Scheme in Guangdong.

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: An exhibition dedicated to the 90th anniversary of the Geotechnical Department opened at SPbGASU

    Translation. Region: Russian Federation –

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Book exhibition for the ninetieth anniversary of the Department of Geotechnics of SPbGASU

    On October 21, the reading room of the scientific and technical library of SPbGASU hosted the grand opening of the book exhibition “Scientific School of the Department of Geotechnics (Mechanics of Soils, Foundations and Foundations)”. The exhibition is dedicated to the 90th anniversary of the department.

    The university’s management was represented at the exhibition opening ceremony by Sergey Mikhailov, Vice-Rector for Educational Activities, and Evgeny Korolev, Vice-Rector for Research Activities.

    Evgeny Korolev addressed young researchers with the words of Isaac Newton: “If I have seen further than others, it is because I have stood on the shoulders of giants.” Evgeny Valerievich expressed confidence that a similar exhibition will be held in many years, and current students have the opportunity to increase the number of works presented at it. The Vice-Rector also invited them to the International Scientific and Technical Conference “Modern Theoretical and Practical Issues in Geotechnics: New Materials, Designs, Technologies and Calculation Methods” (GFAC-2024), which will be held on October 27-29.

    “The exhibition is unique in that it is here that we can see how the traditions of scientific schools are formed, how unique scientific research is developed, how its results are applied, and how these results demonstrate the continuity of the university’s achievements. And continuity is a terribly interesting thing. It is this transfer of knowledge and research methods from one generation of scientists to the next that ensures progress in science and allows young people not only to develop and deepen the accumulated experience of their predecessors, but also to create new knowledge,” shared her thoughts Elena Romanova, head of the Scientific and Technical Library of St. Petersburg State University of Architecture and Civil Engineering.

    According to Elena Gennadyevna, the exhibition presents scientific works of famous professors of IGI/LISI/SPbGASU and young specialists. Visitors will also be interested to see rare publications that laid the foundation for current scientific achievements in the field of geotechnics.

    Rashid Mangushev, Director of the Scientific and Production Consulting Center for Geotechnology, Professor of the Department of Geotechnics, donated to the library a two-volume English-language Geotechnical Handbook published in 2024 and announced plans to promote this publication abroad.

    According to Anatoly Osokin, director of the Soil Testing Center and head of the geotechnics department, the new is the well-forgotten old. Anatoly Ivanovich said that he sees here the books that once awakened his interest in geotechnics.

    The exhibition “Scientific School of the Department of Geotechnics (Mechanics of Soils, Foundations and Foundations)” will be open in the reading room of the Scientific and Technical Library of St. Petersburg State University of Architecture and Civil Engineering until November 22. Opening hours: Monday through Thursday from 10:00 to 18:00, Friday from 10:00 to 17:00.

    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 United Kingdom: Farmer blames weather app after rain washes slurry down road

    Source: United Kingdom – Executive Government & Departments

    Farmer Ben Hembrow blamed rain which he claimed had not been forecast. But his fields were saturated with slurry which began running down a road.

    Slurry run off Huntham Farm in Stoke St Gregory into a lane.

    Somerset farmer Ben Hembrow applied slurry to fields growing winter wheat and claimed that heavy rain, which he said had not been forecast, led to slurry running into surrounding ditches and road drains near his Stoke St Gregory farm.

    This resulted in fines and costs to Hembrow and the farm totalling over £20,000.

    Appearing before District Judge Brereton at Yeovil Magistrates Court on Wednesday 16 October 2024, Hembrow, 36, of Huntham Farm, Stoke St Gregory, Somerset admitted two charges relating to causing slurry pollution. The company, Huntham Farm Ltd, also admitted one charge of causing a polluting discharge.

    Slurry put on fields ahead of rain

    In a case brought by the Environment Agency, the court heard that an officer went to the farm on a wet Sunday in February 2022, following a report of slurry running down a road and into a surface water drain close to the farm in Stoke St Gregory.

    The officer found fields saturated in slurry and observed slurry entering nearby watercourses and ditches. While investigating, Hembrow arrived on scene, visibly shaken. He attempted to reduce the impact by blocking a ditch and used sub soiling equipment to help break up the surface of the soil and prevent further run-off. Despite his actions the investigation later showed that over 1.5km of watercourse, as far as the confluence with the Sedgemoor Old Rhyne Site of Special Scientific Interest, had been impacted.

    Weather app blamed for forecasting ‘just 1mm of rain’

    During interview Hembrow claimed that the weather app he used had predicted only 1mm of rain the day after the slurry was applied. The agency’s investigation established that heavy rain had been forecast to fall on the Sunday throughout the week by numerous weather forecasters including the BBC and the app used by Hembrow. No checks on the physical condition of the soil had been made, no soil test pits to assess soil structure had been dug.

    Hembrow claimed he was not in breach of regulations to prevent pollution due to measures he had taken before spreading and specifically stated that, given the weather forecast he had consulted, he did not believe the application of slurry gave rise to a risk of pollution.

    A fine to reflect the slip in standards

    Summing up, District Judge Brereton acknowledged Hembrow to be a hard-working farmer committed to modern technology and farming practices. However, she also concluded that the fine imposed should reflect that the standards of farming had fallen well below what is expected. She also referenced aggravating features, specifically that Hembrow had previously been prosecuted for offences in 2016 and 2021.

    Hembrow, as an individual, was fined £525 for failing to plan the slurry applications. Huntham Farm Ltd was fined £8,000 for causing pollution and ordered to pay the agency’s full costs of £11,564.25.

    ‘Anything spread on the soil was likely to run off’

    David Womack, senior environment officer for the Environment Agency, said:

    This pollution event was avoidable but occurred because Mr Hembrow failed to carry out the most basic checks to assess if the land he was spreading slurry on was suitable.

    Previous land management had led to the fields being compacted – anything spread on the soil was therefore likely to run off, even in moderate rainfall conditions. He wrongly assumed risk assessments for slurry application would be done by his agronomist – but it was his responsibility to do this just prior to the slurry being applied.

    Additional weather checks would also have alerted Mr Hembrow that wet weather was very likely to occur immediately after he chose to apply slurry. Since 2018 there have been specific laws to ensure organic manure applications are planned and that they take into account weather forecasts and soil conditions.

    Background

    The charges:

    Ben Hembrow: 

    • On and before the 13 February 2022 you, Ben Hembrow, did cause an unpermitted water discharge activity, namely the discharge of poisonous, noxious or polluting matter from Huntham Farm, Stoke St Gregory, Somerset into inland fresh waters. Contrary to Regulations 12(1)(b) and Regulation 38(1)(a) of the Environmental Permitting (England and Wales) Regulations 2016. 
    • On and before the 13 February 2022 you, Ben Hembrow, did fail to plan the application of organic matter, namely slurry, to agricultural land at Huntham Farm, Stoke St Gregory, Somerset so as to give rise to a significant risk of agricultural diffuse pollution. Contrary to Regulations 4(1)&4(2) and Regulation 11 of the  Reduction and Prevention of Agricultural Diffuse Pollution (England) Regulations 2018. 

    The company: 

    • On and before the 13 February 2022 you, Huntham Farm Ltd, did cause an unpermitted water discharge activity, namely the discharge of poisonous, noxious or polluting matter from Huntham Farm, Stoke St Gregory, Somerset into inland fresh waters. Contrary to Regulations 12(1)(b) and Regulation 38(1)(a) of the Environmental Permitting (England and Wales) Regulations 2016.

    Updates to this page

    Published 22 October 2024

    MIL OSI United Kingdom

  • MIL-OSI China: MOFA strongly condemns China for disregarding Taiwan’s goodwill and taking provocative actions that raise tensions in Taiwan Strait and region

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA strongly condemns China for disregarding Taiwan’s goodwill and taking provocative actions that raise tensions in Taiwan Strait and region

    October 14, 2024  

    No. 353  

    The Ministry of Foreign Affairs (MOFA) has noted that China on October 14 launched its so-called Joint Sword-2024B military drill around Taiwan, once again challenging the rules-based international order and gravely undermining regional peace and stability. MOFA strongly condemns China and urges it to pull back and immediately cease its military provocations.

     

    In his National Day address, President Lai Ching-te once again expressed goodwill to China and called for it to act responsibly and work with Taiwan to maintain the prevailing state of peace, stability, and prosperity. However, China remains determined to intimidate the people of Taiwan through military exercises and is attempting to threaten Taiwan’s democracy and unilaterally disrupt the status quo of peace and stability across the Taiwan Strait and throughout the region. MOFA solemnly denounces China and urges it to neither use false pretexts aimed at justifying disagreement and strife nor become a troublemaker that undermines regional peace and stability.

     

    At the same time, MOFA calls on nations around the world to recognize China’s authoritarian and expansionist nature, take concrete actions to support democratic Taiwan at this critical moment, unite in defending the values of freedom and democracy, and safeguard the rules-based international order, as well as the freedom, openness, and prosperity of the Indo-Pacific region. (E)

    MIL OSI China News

  • MIL-OSI China: MOFA response to US Secretary of State Blinken reaffirming importance of cross-strait peace and stability at ASEAN-US and East Asia Summits

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA response to US Secretary of State Blinken reaffirming importance of cross-strait peace and stability at ASEAN-US and East Asia Summits

    October 12, 2024  

    United States Secretary of State Antony Blinken attended the 12th ASEAN-US Summit and the 19th East Asia Summit in Laos on October 10 and 11. In remarks at the first meeting, Secretary Blinken stated that it was important to maintain a shared commitment to protect stability across the Taiwan Strait. At the East Asia Summit the following day, he again spoke on cross-strait peace and stability as well as pressing regional and international challenges and threats, including China’s provocations in the East and South China Seas.

    Responding to a question at a press availability on October 11, Secretary Blinken highlighted the strong desire for all countries represented at the summit, including ASEAN members, to see peace and stability maintained across the Taiwan Strait. He stressed that President Lai Ching-te’s National Day speech was a regular exercise that China should not use in any fashion as a pretext for provocative actions. He further reiterated the importance of maintaining the cross-strait status quo and opposition to unilateral actions by any party to change the status quo. He said that 50 percent of commercial container traffic went through the Taiwan Strait every day and that more than 70 percent of high-end semiconductors were produced in Taiwan. This showed that there was a strong global economic incentive to maintain peace and stability and preserve the status quo.

    The Ministry of Foreign Affairs thanks the United States for continuing to use key regional summits to underscore the importance of cross-strait and regional peace and stability and for stating unequivocally that Taiwan’s regular National Day speech should not be a pretext for China’s provocations. As an important member of the Indo-Pacific region and a defender of the regional status quo, Taiwan will continue to collaborate with like-minded nations to uphold cross-strait and regional peace, stability, and prosperity.

    MIL OSI China News

  • MIL-OSI Economics: Hurricane Helene and Milton damages will significantly impact profitability of US insurers, says GlobalData

    Source: GlobalData

    Hurricane Helene and Milton damages will significantly impact profitability of US insurers, says GlobalData

    Posted in Insurance

    Recent hurricanes Helene and Milton that have struck the US resulted in widespread devastation, claiming hundreds of lives and causing huge property damages. Hurricane Helene, which struck Florida’s Big Bend region as a Category 4 storm on September 26, 2024, resulted in catastrophic flooding throughout Florida, North Carolina, South Carolina, Georgia, and Ohio. The parts of the US were battered again by Hurricane Milton on October 9, 2024.  As a result, US insurers are expected to witness higher claims in 2024 across general insurance lines, which could significantly impact their profitability, according to GlobalData, a leading data and analytics company.

    As per the Office of Insurance Regulation, a total of 112,926 insurance claims for hurricane Helene have been filed as of October 9, 2024, with estimated insured losses amounting to $1.1 billion. Among these claims, 52,070 pertain to private passenger automobiles, followed closely by 50,672 residential property claims. Additional reported damages encompass commercial vehicles and commercial property losses.

    Manogna Vangari, Insurance Analyst at GlobalData, comments: “Hurricane Milton was a formidable storm that resulted in a landfall to the south of Tampa Bay, near Siesta Key, leading to multiple tornadoes, particularly across South Florida. The hurricane Milton presents a considerable risk to the densely populated region of Florida that might result in even higher costs than those associated with Hurricane Helene. According to the White House briefing, the damage from Hurricane Milton is estimated to be more than $50 billion.”

    Property insurance claims are expected to account for a 12.9% share of the total general insurance claims in 2024, amounting to $227.5 billion. However, with these events, the actual claims in 2024 might increase once the complete impact of both hurricanes is realized. As a result, the overall profitability of the general insurance industry in the US is expected to be significantly impacted, with the average combined ratio exceeding 100% in 2024.

    According to GlobalData’s Global Insurance Database, the US general insurance industry is expected to grow at a CAGR of 7.1% over 2024–28, from $2.4 trillion in 2024 to $3.1 trillion in 2028, in terms of gross written premiums (GWP).

    In the US, standard homeowners’ policies do not encompass flood coverage and must be acquired separately, often directly from the federal government. Flood insurance is mandated for homes situated in high-risk areas as determined by the Federal Emergency Management Agency (FEMA), particularly if the mortgage is government-backed.

    As per the Insurance Information Institute, nearly 6% of US homeowners possess flood insurance. In several counties across Georgia, North Carolina, and South Carolina that were recently inundated by the effects of Helene, less than 1% of households have flood insurance. Nearly two-thirds of these policies are provided through the National Flood Insurance Program (NFIP) administered by FEMA, while the remaining are secured through private insurers.

    The aftermath of hurricanes Helene and Milton has cast a spotlight on the significant deficiencies within the US flood insurance framework and the ensuing repercussions. As climate change intensifies the frequency and severity of flooding, the need for comprehensive flood risk management has become increasingly critical.

    Vangari concludes: “The recent spate of natural disasters may result in higher-than-anticipated claims for US insurers and reinsurers in 2024 and 2025. The escalating incidence of such significant events is projected to drive the need for a comprehensive flood risk cover, which will support general insurance growth over the next five years.”

    MIL OSI Economics

  • MIL-OSI Economics: Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis top M&A legal advisers in technology, media and telecom sector during Q1-Q3 2024, reveals GlobalData

    Source: GlobalData

    Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis top M&A legal advisers in technology, media and telecom sector during Q1-Q3 2024, reveals GlobalData

    Posted in Business Fundamentals

    Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the technology, media and telecom sector during the first three quarters (Q1-Q3) of 2024 by value and volume, respectively, according to the latest Legal Advisers League Table, which ranks legal advisers by the value and volume of mergers and acquisition (M&A) deals on which they advised, by  GlobalData, a leading data and analytics company.

    An analysis of GlobalData’s Deals Database reveals that Skadden, Arps, Slate, Meagher & Flom achieved the leading position in terms of value by advising on $121.7 billion worth of deals. Meanwhile, Kirkland & Ellis led in terms of volume by advising on a total of 120 deals.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Kirkland & Ellis was the only adviser to hit triple-digit deal volume during Q1-Q3 2024. It also outpaced its peers by a significant margin in terms of deal volume.

    “Meanwhile, Skadden, Arps, Slate, Meagher & Flom was among the only two advisers that managed to surpass $100 billion total deal value mark. Due to involvement in big-ticket deals, it registered a massive 60.8% growth in the total value of deals advised by it during Q1-Q3 2024 compared to Q1-Q3 2023.

    “Resultantly, Skadden, Arps, Slate, Meagher & Flom’s ranking by value also improved from the third position during Q1-Q3 2023 to the top position during Q1-Q3 2024. It advised on 15 billion-dollar deals* during Q1-Q3 2024 that also included five mega deals valued more than $10 billion.”

    Paul, Weiss, Rifkind, Wharton & Garrison occupied the second position in terms of value, by advising on $107.1 billion worth of deals, followed by Kirkland & Ellis with $75.3 billion, Simpson Thacher & Bartlett with $65 billion and Cleary Gottlieb Steen & Hamilton with $46.5 billion.

    Meanwhile, CMS occupied the second position in terms of volume with 58 deals, followed by Simpson Thacher & Bartlett with 48 deals, Latham & Watkins with 44 deals,  and Wilson Sonsini Goodrich & Rosati with 43 deals.

    *Valued more than or equal to $1 billion

    MIL OSI Economics

  • MIL-OSI Economics: Opioid addiction market to reach $2.4 billion in 8MM by 2033, forecasts GlobalData

    Source: GlobalData

    Opioid addiction market to reach $2.4 billion in 8MM by 2033, forecasts GlobalData

    Posted in Pharma

    The opioid addiction market across the eight major markets (8MM*) is poised to grow at a compound annual growth rate (CAGR) of 1.8% from $2.0 billion in 2023 to $2.4 billion in 2033, according to GlobalData, a leading data and analytics company.

    GlobalData’s latest report “Opioid Addiction: Opportunity Assessment and Forecast,” reveals that growth will primarily be driven by an increase in diagnosed prevalent cases, as well as an increase in treatment rates and the introduction of four late-stage pipeline products – cannabidiol, mazindol controlled release (CR), probenecid, and TRV-734.

    Jos Opdenakker, Neurology Analyst at GlobalData, comments: “Of the four late-stage pipeline products, three of them (cannabidiol, mazindol CR, and probenecid) are non-opioids. Cannabidiol and mazindol CR are expected to be used as potential adjunctive treatments in addition to the standard of care in the treatment of opioid use disorder, driving an increase in the OUD market. Probenecid is indicated for the treatment of OWS and is expected to take market share from existing OWS agents.”

    GlobalData forecasts that the late-stage pipeline products could drive combined sales of approximately $171.4 million in the 8MM by 2033. Trevena’s TRV-734 will be the most promising pipeline product, indicated for the treatment of opioid withdrawal syndrome (OWS).

    According to GlobalData forecasts, TRV-734 could generate global sales of approximately $77.6 million by 2033. It has the potential to see strong uptake due to its position as a partial mu-opioid receptor agonist. This means that it has the potential to elicit the partial effects of opioids but not the full effect, and this could limit some of the distressing side effects and potentially prevent withdrawal associated with existing opioid-based treatments.

    Opdenakker adds: “While the OUD pipeline agents will bring new mechanisms to market, they are unlikely to become first line treatments. The need for effective non-opioid treatments that do not target the mu receptor, which could potentially replace opioids as first-line therapies, remains.”

    Opdenakker continues: “The overall opioid addiction market is expected to experience growth until 2033; however, continued generic erosion will be an important barrier. Generic erosion is expected to be particularly significant in the US opioid addiction market.”

    In 2023, the US represented the largest market for opioid addiction, with 74.1% of the 8MM sales, due to its larger patient population and the high price of medications. Although the US is expected to remain the largest market for opioid addiction at the end of the forecast period, its proportion of global sales is expected to fall to 70.5% in 2033.

    The decline in the contribution of  the US opioid addiction market will be fueled by the patent expiries of Indivior’s extended-release formulation of buprenorphine, Sublocade, which was the top-selling drug in the opioid addiction market in 2023, Alkermes’ Vivitrol (naltrexone ER), Braeburn’s long-acting buprenorphine product, Brixadi and Orexo US’ Zubsolv (buprenorphine), all of which will expire throughout the forecast period, resulting in sales erosion amongst the key OUD therapies.

    Opdenakker concludes: “Although the impending entry of numerous generic products will act as a major barrier to growth and the introduction of the late-stage pipeline products is limited in their potential to generate significant revenues to counter the generic erosion, the increase in diagnosed prevalence, treatment rates, and general awareness surrounding opioid addiction will continue to act as the main drivers of growth across the 8MM.”

    *8MM- US, France, Germany, Italy, Spain, UK, Canada, and Australia

    MIL OSI Economics

  • MIL-OSI Economics: Goldman Sachs and Houlihan Lokey top M&A financial advisers in technology, media and telecom sector during Q1-Q3 2024, reveals GlobalData

    Source: GlobalData

    Goldman Sachs and Houlihan Lokey top M&A financial advisers in technology, media and telecom sector during Q1-Q3 2024, reveals GlobalData

    Posted in Business Fundamentals

    Goldman Sachs and Houlihan Lokey were the top mergers and acquisitions (M&A) financial advisers in the technology, media and telecom sector during the first three quarters (Q1-Q3) of 2024 by value and volume, respectively, according to according to the latest Financial Advisers League Table, which ranks legal advisers by the value and volume of mergers and acquisition (M&A) deals on which they advised, by GlobalData,  a leading data and analytics company.

    An analysis of GlobalData’s Deals Database reveals that Goldman Sachs achieved the leading position in terms of value by advising on $88 billion worth of deals. Meanwhile, Houlihan Lokey led in terms of volume by advising on a total of 59 deals.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Goldman Sachs registered an improvement in the total value of deals advised by it and the ranking by value during Q1-Q3 2024 compared to Q1-Q3 2023. During Q1-Q3 2024, Goldman Sachs advised on 23 billion-dollar deals*, that also included two mega deals valued for than $10 billion.

    “Involvement in these big-ticket deals helped it register improvement in terms of value as well as its ranking by this metric. Moreover, Goldman Sachs, apart from leading by value, also held the second position by volume during Q1-Q3 2024.

    “Meanwhile, Houlihan Lokey was the top adviser by volume during Q1-Q3 2023 and also managed to retain its leadership position by this metric during Q1-Q3 2024 as well.”

    Evercore occupied the second position in terms of value by advising on $83.7 billion worth of deals, followed by Qatalyst Partners with $64.8 billion, Morgan Stanley with $63.4 billion, and JP Morgan with $58.6 billion.

    Meanwhile, Goldman Sachs occupied the second position in terms of volume with 45 deals, followed by Rothschild & Co with 44 deals, Evercore with 40 deals, and Raymond James Financial with 35 deals.

    *Valued more than or equal to $1 billion

    MIL OSI Economics

  • MIL-OSI Economics: AIIB Accredited as Green Climate Fund Entity to Accelerate Climate Action in Developing Members

    Source: Asia Infrastructure Investment Bank

    The Asian Infrastructure Investment Bank (AIIB) has been accredited as an International Access Entity (Accredited Entity) of the Green Climate Fund (GCF) at the 40th GCF Board meeting in Songdo, Incheon, Republic of Korea, Oct. 21-24.

    The partnership is in line with AIIB’s Corporate Strategy and GCF’s reform agenda. It will enable both institutions to leverage their resources to more effectively support members in achieving their Nationally Determined Contributions targets for low emissions and climate-resilient development, a critical component of the Paris Agreement.

    “AIIB’s top priority is to develop green infrastructure that facilitates climate transition and is resilient to climate change impacts in the coming decades,” said Sir Danny Alexander, AIIB Vice President for Policy and Strategy. “This partnership with GCF is a testament to our commitment to this mandate as outlined in our corporate strategy.”

    With this accreditation, AIIB will gain access to GCF funds through a flexible combination of grants, concessional debt, guarantees and equity instruments. These will enable AIIB to leverage blended finance and attract private capital for climate action in developing members. As a GCF Accredited Entity, AIIB will continue to deepen its collaboration with other international, regional and national development finance institutions; equity funds; and UN agencies to develop high-quality, climate-focused projects.

    Henry Gonzalez, Chief Investment Officer of the Green Climate Fund (GCF), welcomed the GCF Board’s decision to approve the accreditation. “This partnership opens new and exciting opportunities for collaboration on scaled-up climate action that focuses on green and resilient infrastructure in various countries,” he said. “Both GCF and AIIB have a shared focus on innovative solutions that provide a pathway for a low-emission, climate-resilient pathway towards sustainable development.”

    In 2023, AIIB’s climate finance reached 60% of total approved regular financing, an increase from 56% in 2022, surpassing the targets outlined in its corporate strategy. In terms of volume, its climate finance rose from USD 2.39 billion in 2022 to USD 3.43 billion in 2023.

    About AIIB

    The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is Financing Infrastructure for Tomorrow in Asia and beyond – infrastructure with sustainability at its core. We began operations in Beijing in 2016 and have since grown to 110 approved members worldwide. We are capitalized at USD100 billion and AAA-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

    About GCF

    The Green Climate Fund (GCF) – a critical element of the historic Paris Agreement – is the world’s largest climate fund, mandated to support developing countries raise and realize their Nationally Determined Contributions (NDC) ambitions towards low-emissions, climate-resilient pathways.

    MIL OSI Economics

  • MIL-OSI: Bybit x Block Scholes Derivatives Report Picks up Underlying BTC Volatility Signals Despite Surge in Spot Price

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Oct. 22, 2024 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in collaboration with Blocks Scholes, captures the pulse of underlying currents of BTC options in its latest crypto derivatives report. The in-depth report offers a comprehensive view of BTC’s implied price volatility beneath the recent price surge in BTC spot prices on the surface. 

    The findings suggest the positive movements in BTC spot places did not translate directly to the derivatives market, and short-term volatility lurks as investors are now holding out for the U.S. election results before acting on the current bullish trends. It also showed BTC’s dominance over ETH in traders’ positioning.

    Key Insights:

    Futures movements lag behind Perps: The modest increase in futures open interest has not matched the recent notable bullish movements of BTC spot prices, and the market has yet to see the levels prior to the option expiration in late Sep.

    Perps ride the bull run: By contract, perpetual swap open interest has been on the rise reaching a new high in months. Spikes in trading activities and increased participation in perpetual contracts mirrored the optimism in the recent rally. 

    Election suspense in BTC Options Volatility: The relative stability of short-term options does not signal significant price chances for BTC in the near term, but tension tied to the uncertainty of the U.S. election could trigger movements post-result, which has shown a bigger effect on BTC volatility than the recent surge in spot prices.

    Access the Full Report:

    To read the full report in context here for a deep dive into the latest crypto derivatives trading trends and signals. 

    #Bybit / #TheCryptoArk /#BybitResearch

    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, users can visit Bybit Press 

    For media inquiries, users can contact: media@bybit.com

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

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

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

    The MIL Network

  • MIL-OSI Video: UK Watch live: Lords debates apprenticeships and technical education

    Source: United Kingdom UK House of Lords (video statements)

    Members are set to debate the key purpose of the Apprenticeships and Technical Education (Transfer of Functions etc) Bill on Tuesday 22 October. The aim of the bill is to abolish the Institute for Apprenticeships and Technical Education (IfATE) and transfer its statutory functions to the Secretary of State for Education, who in practice will defer these duties to the newly established Skills England.

    Find out more https://www.parliament.uk/business/news/2024/october/lords-debates-institute-for-apprenticeships-and-technical-education-bill/

    Catch-up on House of Lords business:

    Watch live events: https://parliamentlive.tv/Lords
    Read the latest news: https://www.parliament.uk/lords/

    Stay up to date with the House of Lords on social media:

    • Twitter: https://twitter.com/UKHouseofLords
    • Instagram: https://www.instagram.com/UKHouseofLords/
    • Facebook: https://www.facebook.com/UKHouseofLords
    • Flickr: https://flickr.com/photos/ukhouseoflords/albums
    • LinkedIn: https://www.linkedin.com/company/the-house-of-lords
    • Threads: https://www.threads.net/@UKHouseOfLords

    #HouseOfLords #UKParliament #StateOpening

    https://www.youtube.com/watch?v=Aj40OUNjWi0

    MIL OSI Video

  • MIL-OSI: Stabilization Notice – Pre Stab Webuild SpA

    Source: GlobeNewswire (MIL-OSI)

    22/10/2024

    Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

    WEBUILD SpA

    Pre-stabilisation Period Announcement

    BNP Paribas (contact: Stanford Hartman telephone: 0207 595 8222 hereby gives notice, as Stabilisation Coordinator, that the Stabilisation Manager(s) named below may stabilise the offer of the following securities in accordance with Commission Delegated Regulation EU/2016/1052 under the Market Abuse Regulation (EU/596/2014).

    The securities:1  
    Issuer: Webuild Spa
    Guarantor (if any): N/A
    Aggregate nominal amount: EUR 400,000,000 expected 
    Description:  
    Offer price: TBC
    Other offer terms:  
    Stabilisation:  
    Stabilisation Manager(s) Banca Akros, BNP Paribas, BOFA, Goldman Sachs, HSBC, Intesa Sanpaolo, JPM, Natixis, Unicredit
    Stabilisation period expected to start on: 31/10/24
    Stabilisation period expected to end no later than: 30/11/2024
    Existence, maximum size and conditions of use of over‑allotment facility: The Stabilisation Manager(s) may over‑allot the securities to the extent permitted in accordance with applicable law.
    Stabilisation trading venue: OTC

    In connection with the offer of the above securities, the Stabilisation Manager(s) may over‑allot the securities or effect transactions with a view to supporting the market price of the securities during the stabilisation period at a level higher than that which might otherwise prevail. However, stabilisation may not necessarily occur and any stabilisation action, if begun, may cease at any time. Any stabilisation action or over‑allotment shall be conducted in accordance with all applicable laws and rules.

    This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

    This announcement and the offer of the securities to which it relates are only addressed to and directed at persons outside the United Kingdom and persons in the United Kingdom who have professional experience in matters related to investments or who are high net worth persons within Article 12(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and must not be acted on or relied on by other persons in the United Kingdom.

    In addition, if and to the extent that this announcement is communicated in, or the offer of the securities to which it relates is made in, the UK or any EEA Member State before the publication of a prospectus in relation to the securities which has been approved by the competent authority in the UK or that Member State in accordance with Regulation (EU) 2017/1129 (the “Prospectus  Regulation”) (or which has been approved by a competent authority in another Member State and notified to the competent authority in the UK or that Member State in accordance with the Prospectus Regulation), this announcement and the offer are only addressed to and directed at persons in the UK or that Member State who are qualified investors within the meaning of the Prospectus Regulation (or who are other persons to whom the offer may lawfully be addressed) and must not be acted on or relied on by other persons in the UK or that Member State.

    This announcement is not an offer of securities for sale into the United States. The securities have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States. 

    The MIL Network

  • MIL-OSI China: Expressway in SW China’s Guizhou to begin trial operations

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

    Expressway in SW China’s Guizhou to begin trial operations

    Updated: October 22, 2024 15:58 Xinhua
    An aerial panoramic drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. With a total length of 74.754 kilometers, the expressway is expected to begin trial operations this year, cutting travel time between two counties to about one hour. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]
    An aerial drone photo shows a section of an expressway linking Jianhe County and Liping County in southwest China’s Guizhou Province, Oct. 20, 2024. [Photo/Xinhua]

    MIL OSI China News

  • MIL-OSI China: Foreign holdings of renminbi bonds reach historic high

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

    BEIJING, Oct. 22 — The yield on renminbi bonds has been good since the start of the year, attracting foreign investors to increase their holdings, an official with the State Administration of Foreign Exchanges said on Tuesday.

    Up till now, foreign holdings of domestic renminbi bonds have exceeded 640 billion U.S. dollars, reaching a historic high, Li Hongyan, deputy head of the administration, told a press conference.

    “Overall, holdings of renminbi assets by foreign capital help to diversify the participants in the domestic market, enhance market liquidity, and promote a more active and international development of the domestic capital market,” Li said.

    The administration will continuously improve investment facilitation, create a favorable investment environment, promote high-level financial opening up to the outside world, and actively support foreign investors in participating in the Chinese capital market, Li added.

    MIL OSI China News

  • MIL-OSI United Kingdom: Fly-tipping fines increased in efforts to tackle the culprits

    Source: City of Coventry

    Coventry City Council has increased fly-tipping fixed penalty notices (FPNs) to £1000 to further support its efforts to tackle fly-tipping in the city.

    Until now it was £200 for fly-tipping / duty of care and £100 for littering.

    Councillors are hoping that the new £1,000 FPN for fly-tipping acts as even more of a deterrent.

    The fines serve as a clear warning that illegal waste disposal will not be tolerated, and offenders will face serious consequences.

    Cllr Abdul Salam Khan, Deputy Council Leader, said: “Residents and councillors have been calling for an increase in the FPNs and we’ll monitor the impact this has.

    “There are neighbourhoods in the city where there is a higher amount of fly-tipping incidents, and that’s why we are also publishing our Wall of Shame video coverage of the perpetrators.  We are making people aware that they will be caught.

    “Anyone who witnesses fly-tipping can report it anonymously and we also have officers who are out and about in hotspots.

    “We investigate, take action and we use all legal options available to us wherever we find fly-tipping. We are really determined to help improve neighbourhoods.”

    The latest Wall of Shame video, published on Coventry City Council’s social media channels today (22 October) shows more fly-tippers flouting the law, in this latest footage leaving pushchairs and binbags on street corners in the city.

    The cameras are located at hotspots in the city to help to crackdown on the problem.

    Over the last twelve months alone the Council has had to deal with almost 6000 (5883) instances of fly-tipping. 

    Officers do regular checks across the city and deal with fly tipped materials on our land straight away. They also routinely serve notices on tenants, landlords and landowners to clear their land and make repairs on their properties.

    Over the last year they’ve served over 900 notices, and issued 250 fixed penalties for waste related offences. The Council is hoping the much higher fines of £1000 will act as even more of a deterrent.

    Members of the public are being encouraged to report anyone they recognise in the video by emailing flytipping-cctv@coventry.gov.uk or anonymously by going to https://www.coventry.gov.uk/flytipping or calling 08085 834333. 

    The latest Wall of Shame can be watched on the Council’s YouTube now. 

    Published: Tuesday, 22nd October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Ambitious Mobile Strategy to be considered by councillors

    Source: Scotland – City of Perth

    This strategy, developed with feedback from the public, will be discussed when Climate Change and Sustainability Committee meets on 23 October 2024.

    The Mobility Strategy is one of three critical place-based strategies designed to shape the long-term development of Perth and Kinross, alongside the Local Housing Strategy and the Local Development Plan.

    Together, these strategies are instrumental in realising the Council’s vision of “a Perth and Kinross where everyone can live life well, free from poverty and inequality.”

    The Mobility Strategy outlines Perth and Kinross Council’s vision for managing and developing the transport and active travel network over the next 15 years.

    It considers all modes of transport for the movement of people and goods across both rural and urban areas, addressing the impacts of emerging technologies, digital services, housing, inclusion, poverty, health, climate adaptation, economic growth, air quality, and place making.

    Aligned with the priorities set out in the Scottish Government’s National Transport Strategy 2 (February 2020), the Mobility Strategy adopts four key priorities: Reducing Inequalities, Taking Climate Action, Delivering Inclusive Economic Growth, and Improving Health and Wellbeing.

    These priorities are fundamental to the development and delivery of the strategy, ensuring it meets both national targets and local goals.

    Councillors will also be asked to approve the next priorities for the Local Heat and Energy Efficiency Strategy (LHEES) and Local Area Energy Plan (LAEP) for the upcoming 12-18 months.

    The Perth and Kinross LAEP envisions the area as a leading example of affordable and equitable access to sustainable energy for all residents, businesses, and organisations.

    By 2045, the area aims to achieve an integrated, net-zero local energy system. Similarly, the Perth and Kinross LHEES aims to make homes and buildings more energy efficient and equipped with decarbonised heat sources, providing more affordable warmth and reduce climate impact, all contributing to achieving our goal of Net Zero by 2045.

    In line with these initiatives, committee members will be asked to approve the Council’s Public Body Climate Change Duty report. The report outlines the Council’s actions and progress in addressing climate change within its own operations, with a 31% reduction in its overall emissions. The decrease is primarily attributed to improvements in waste processing and the transition from waste to energy. Additionally, there were modest reductions in emissions from on-site energy production, business travel and employee commuting.

    Councillor Richard Watters, Convenor of Climate Change and Sustainability Committee said: “We are deeply grateful to the public for their active involvement and valuable feedback throughout the development of the Mobility Strategy. Their participation has been crucial in shaping a strategy that is robust, relevant, and adaptable to the diverse needs of our community.

    “We also want to recognise the outstanding work made through the Local Heat and Energy Efficiency Strategy (LHEES), the Local Area Energy Plan (LAEP) and the Council’s own initiatives in tackling climate change.  It is truly encouraging to see the Council’s substantial reduction in overall emissions, equivalent to 12.5 kilotonnes of C02, between 2022/23 and 2023/24.

    “Despite facing financial challenges, we are striving forward with new priorities for the next 12 to 18 months. Together, we are paving the way for a sustainable and prosperous future for Perth and Kinross.”

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: New UK visa application supplier in Ghana from 22 October 2024

    Source: United Kingdom – Executive Government & Departments

    Visa application centre provider changing to VSFGlobal, offering faster service for customers.

    Ghanaians applying for visas to enter the UK will need to use a new visa application centre (VAC) from 22 October 2024.

    The UK’s third-party VAC supplier in Ghana is changing to VFSGlobal on this date. This means people in Ghana will need to complete their applications with VFSGlobal, even if they have begun the process with previous supplier, TLScontact.

    You will be contacted by email if this change affects you. However, there is no need for concern as it will not affect visa application decisions, processing times or prices.

    This change will improve our service, including on average shorter biometric and application submission times in the VAC.

    The UK’s global network of VACs is managed by third party suppliers on behalf of UK Visas and Immigration (UKVI).

    Marc Owen, UKVI Director for Visa, Status and Information Services, said: “The opening of our new VAC in Ghana marks an exciting milestone in the provision of a world-class UK visa operation, one which will provide important digital innovations and convenience to customers around the world.”

    The new location for the Ghanaian VAC is Mezzanine Floor, Grand Oyeeman Building, South Liberation Link, Accra.

    If you want to find out more about the changes to suppliers and when this is happening, please visit: Changes to the commercial partner visa application services – GOV.UK (www.gov.uk)

    You can find your nearest VAC by visiting: http://www.gov.uk/find-a-visa-application-centre

    Further information: 

    Improved service also includes:

    • on average shorter biometric and application submission times in the VAC

    • new average passport collection time of 20 minutes 

    • clearer information for customers to distinguish free services from paid for services

    Changes to suppliers will also not affect the visa process, immigration rules or the current visa fees

    Updates to this page

    Published 22 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Video: Minister Hlabisa to launch National Strategic hub for data-driven local Government excellence

    Source: Republic of South Africa (video statements-2)

    The Minister of Cooperative Governance and Traditional Affairs (COGTA), Mr Velenkosini Hlabisa will launch the National Strategic Hub, a groundbreaking initiative aimed at transforming local government through data-driven decision-making. This innovative platform will serve as a catalyst for improving service delivery and operational efficiency across all municipalities in South Africa.

    https://www.youtube.com/watch?v=KLrDjz5ERi8

    MIL OSI Video

  • MIL-OSI Video: European Commission President Ursula von der LEYEN Western Balkans tour (Albania)

    Source: European Commission (video statements)

    Press Conference of President Ursula von der LEYEN with Prime Minister Edi Rama
    Watch on the Audiovisual Portal of the European Commission:

    Subscribe to our channel: https://bit.ly/2X56Ju6

    Follow us on:
    -X: https://twitter.com/EU_Commission
    -Instagram: https://www.instagram.com/europeancommission/
    -Facebook: https://www.facebook.com/EuropeanCommission
    -LinkedIn: https://www.linkedin.com/company/european-commission/
    -Medium: https://medium.com/@EuropeanCommission

    Check our website: http://ec.europa.eu/

    https://www.youtube.com/watch?v=90ggjLlmzA4

    MIL OSI Video

  • MIL-OSI Europe: Press conference following Council of Ministers meeting no. 101

    Source: Government of Italy (English)

    21 Ottobre 2024

    Council of Ministers meeting no. 101 was held at Palazzo Chigi today, after which Undersecretary of State to the Presidency of the Council of Ministers Alfredo Mantovano, Minister of Justice Carlo Nordio and Minister of the Interior Matteo Piantedosi held a press conference to illustrate the measures approved.

    The press conference

    [This video is available in Italian only]

    MIL OSI Europe News

  • MIL-OSI Video: UK Do the government plan to regulate artificial intelligence? | House of Lords

    Source: United Kingdom UK House of Lords (video statements)

    In this highlight from the chamber, members pressed the government on its plans to tackle issues such as AI manipulated images in journalism, copyright, and facial recognition. Watch for more.

    Read a transcript of this question https://hansard.parliament.uk/lords/2024-10-17/debates/D8B7A670-2E3B-4E0B-9923-A538C12CB7EA/ArtificialIntelligenceRegulation

    Catch-up on House of Lords business:

    Watch live events: https://parliamentlive.tv/Lords
    Read the latest news: https://www.parliament.uk/lords/

    Stay up to date with the House of Lords on social media:

    • Twitter: https://twitter.com/UKHouseofLords
    • Instagram: https://www.instagram.com/UKHouseofLords/
    • Facebook: https://www.facebook.com/UKHouseofLords
    • Flickr: https://flickr.com/photos/ukhouseoflords/albums
    • LinkedIn: https://www.linkedin.com/company/the-house-of-lords
    • Threads: https://www.threads.net/@UKHouseOfLords

    #HouseOfLords #UKParliament

    https://www.youtube.com/watch?v=WgUSXNFl6vI

    MIL OSI Video

  • MIL-OSI: Stabilization Notice – Pre Stab – ILIAD S.A

    Source: GlobeNewswire (MIL-OSI)

    22/10/2024

    Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

    [ILIAD S.A]

    Pre-stabilisation Period Announcement

    BNP Paribas (contact: Stanford Hartman telephone: 0207 595 8222 hereby gives notice, as Stabilisation Coordinator, that the Stabilisation Manager(s) named below may stabilise the offer of the following securities in accordance with Commission Delegated Regulation EU/2016/1052 under the Market Abuse Regulation (EU/596/2014).

    The securities:1  
    Issuer: ILIAD S.A
    Guarantor (if any): N/A
    Aggregate nominal amount: EUR 500mn
    Description: Long 5-year Inaugural Green Bond
    Offer price: TBC
    Other offer terms: N/A
    Stabilisation:  
    Stabilisation Manager(s) BNP Paribas, Societe Generale, Credit Agricole, MUFG, Natixis, SMBC
    Stabilisation period expected to start on: 22/10/2024
    Stabilisation period expected to end no later than: 28/11/2024
    Existence, maximum size and conditions of use of over‑allotment facility: The Stabilisation Manager(s) may over‑allot the securities to the extent permitted in accordance with applicable law.
    Stabilisation trading venue: OTC

    In connection with the offer of the above securities, the Stabilisation Manager(s) may over‑allot the securities or effect transactions with a view to supporting the market price of the securities during the stabilisation period at a level higher than that which might otherwise prevail. However, stabilisation may not necessarily occur and any stabilisation action, if begun, may cease at any time. Any stabilisation action or over‑allotment shall be conducted in accordance with all applicable laws and rules.

    This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

    This announcement and the offer of the securities to which it relates are only addressed to and directed at persons outside the United Kingdom and persons in the United Kingdom who have professional experience in matters related to investments or who are high net worth persons within Article 12(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and must not be acted on or relied on by other persons in the United Kingdom.

    In addition, if and to the extent that this announcement is communicated in, or the offer of the securities to which it relates is made in, the UK or any EEA Member State before the publication of a prospectus in relation to the securities which has been approved by the competent authority in the UK or that Member State in accordance with Regulation (EU) 2017/1129 (the “Prospectus  Regulation”) (or which has been approved by a competent authority in another Member State and notified to the competent authority in the UK or that Member State in accordance with the Prospectus Regulation), this announcement and the offer are only addressed to and directed at persons in the UK or that Member State who are qualified investors within the meaning of the Prospectus Regulation (or who are other persons to whom the offer may lawfully be addressed) and must not be acted on or relied on by other persons in the UK or that Member State.

    This announcement is not an offer of securities for sale into the United States. The securities have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States. 

    The MIL Network

  • MIL-OSI: Correction: Stabilization Notice – Pre Stab Webuild SpA

    Source: GlobeNewswire (MIL-OSI)

    22/10/2024

    Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

    WEBUILD SpA

    Pre-stabilisation Period Announcement

    BNP Paribas (contact: Stanford Hartman telephone: 0207 595 8222 hereby gives notice, as Stabilisation Coordinator, that the Stabilisation Manager(s) named below may stabilise the offer of the following securities in accordance with Commission Delegated Regulation EU/2016/1052 under the Market Abuse Regulation (EU/596/2014).

    The securities:1  
    Issuer: Webuild Spa
    Guarantor (if any): N/A
    Aggregate nominal amount: EUR 400,000,000 expected 
    Description:  
    Offer price: TBC
    Other offer terms:  
    Stabilisation:  
    Stabilisation Manager(s) Banca Akros, BNP Paribas, BOFA, Goldman Sachs, HSBC, Intesa Sanpaolo, JPM, Natixis, Unicredit
    Stabilisation period expected to start on: 22/10/24
    Stabilisation period expected to end no later than: 30/11/2024
    Existence, maximum size and conditions of use of over‑allotment facility: The Stabilisation Manager(s) may over‑allot the securities to the extent permitted in accordance with applicable law.
    Stabilisation trading venue: OTC

    In connection with the offer of the above securities, the Stabilisation Manager(s) may over‑allot the securities or effect transactions with a view to supporting the market price of the securities during the stabilisation period at a level higher than that which might otherwise prevail. However, stabilisation may not necessarily occur and any stabilisation action, if begun, may cease at any time. Any stabilisation action or over‑allotment shall be conducted in accordance with all applicable laws and rules.

    This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

    This announcement and the offer of the securities to which it relates are only addressed to and directed at persons outside the United Kingdom and persons in the United Kingdom who have professional experience in matters related to investments or who are high net worth persons within Article 12(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and must not be acted on or relied on by other persons in the United Kingdom.

    In addition, if and to the extent that this announcement is communicated in, or the offer of the securities to which it relates is made in, the UK or any EEA Member State before the publication of a prospectus in relation to the securities which has been approved by the competent authority in the UK or that Member State in accordance with Regulation (EU) 2017/1129 (the “Prospectus  Regulation”) (or which has been approved by a competent authority in another Member State and notified to the competent authority in the UK or that Member State in accordance with the Prospectus Regulation), this announcement and the offer are only addressed to and directed at persons in the UK or that Member State who are qualified investors within the meaning of the Prospectus Regulation (or who are other persons to whom the offer may lawfully be addressed) and must not be acted on or relied on by other persons in the UK or that Member State.

    This announcement is not an offer of securities for sale into the United States. The securities have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States. 

    The MIL Network

  • MIL-OSI Security: Detroit Man Sentenced to 30 Years for Drug Trafficking and Discharging Firearm at Drug Deal

    Source: Office of United States Attorneys

    HONOLULU – United States Attorney Clare E. Connors announced that Gabriel Antone Eberhardt, 42, of Detroit, Michigan, was sentenced today by United States District Judge Jill A. Otake to 30 years in federal prison—including 12 years for conspiring to distribute fentanyl, heroin, and methamphetamine and a consecutive 18 years for discharging a firearm in connection with the distribution of heroin—as well as 5 years of supervised release. The court also ordered that Eberhardt forfeit his interests in $250,000 in drug proceeds, multiple firearms, hundreds of rounds of ammunition, and a vehicle. Additional firearms and ammunition were administratively forfeited by the government.

    According to court records, from October 2019 to June 30, 2021, Eberhardt, a/k/a “Stacks,” co-led a drug trafficking organization (DTO) in Honolulu that distributed large amounts of fentanyl, heroin, and methamphetamine. Eberhardt’s DTO obtained the drugs from suppliers in Philadelphia and Los Angeles, who mailed the drugs to Honolulu. The DTO distributed the fentanyl—a potent synthetic opioid 50 times stronger than heroin—in mixtures with heroin and in counterfeit oxycodone tablets. In connection with a heroin distribution on October 21, 2019, Eberhardt admitted he fired several shots from a semi-automatic pistol at a person accompanying his drug customer. One of the rounds struck the victim’s torso, requiring medical attention. The victim survived the shooting.

    During an investigation by the Federal Bureau of Investigation (FBI), the Drug Enforcement Administration (DEA), the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), the United States Postal Inspection Service (USPIS), and the Honolulu Police Department (HPD), agents made dozens of controlled purchases of fentanyl, heroin, and methamphetamine from the conspirators, and executed 15 search warrants on residences, rental storage units, and parcels. As a result of the controlled purchases and warrants, law enforcement agents seized 6.5 kilograms of fentanyl, 6.4 kilograms of heroin, 2.8 kilograms of methamphetamine, seven firearms, including assault rifles and semi-automatic pistols, hundreds of rounds of ammunition, a vehicle, and more than $250,000 in cash drug proceeds. 

    In addition to Eberhardt, the following conspirators were prosecuted in the District of Hawaii:

    • Jared Northern, a/k/a “White Boy Jay,” a/k/a “Gage,” 25, of Honolulu, pled guilty to conspiracy and two counts of distribution of controlled substances, and on May 15, 2024, was sentenced to 120 months in federal prison and five years of supervised release;
    • Zakiyyah Mareus, a/k/a “Kai,” 27, of Miami Gardens, Florida, pled guilty to conspiracy, and on August 8, 2024, was sentenced to 37 months in federal prison and three years of supervised release;
    • Isaiah Marks, a/k/a “Seh,” 25, of Honolulu, pled guilty to conspiracy and two counts of distribution of controlled substances, and on January 18, 2023, was sentenced to 24 months in federal prison and four years of supervised release;
    • Tishanah Iwalani Kaio-Barrozo, 33, of Honolulu, pled guilty to distribution of controlled substances, and on June 7, 2022, was sentenced to nine months in federal prison and three years of supervised release;
    • Michael Garrett, a/k/a “Sideburns,” a/k/a “Burns,” 41, of Romulus, Michigan, pled guilty to conspiracy, and on March 28, 2024, was sentenced to three months in federal prison and five years of supervised release;
    • Jennifer Ashcraft, a/k/a “Jessie,” a/k/a “Jess,” 33, of Honolulu, pled guilty to conspiracy and is scheduled for sentencing on November 22, 2024;
    • Martzes Junior, a/k/a “Green,” 43, of Southfield, Michigan, pled guilty to conspiracy and possession of a firearm in connection with a drug trafficking crime and is scheduled for sentencing on November 26, 2024;
    • Lynden David Lightburn, a/k/a “Soulja,” 51, of Los Angeles, pled guilty to conspiracy and is scheduled for sentencing on December 6, 2024; 
    • Jason Darnell Smith, a/k/a “Famous,” a/k/a “Sweets,” 41, of Detroit, Michigan, pled guilty to conspiracy and is scheduled for sentencing on December 9, 2024; and
    • Robert Adams, a/k/a “Tre,” a/k/a “Tre Block,” a/k/a “Block,” a/k/a “TBlock,” a/k/a “Ray Smith,” 37, of Philadelphia, pled guilty to conspiracy and is scheduled for sentencing on February 26, 2025. 

    “Increasingly, the influx of illegal, deadly narcotics through transnational distribution operations is accompanied by gun violence, which has exponentially harmful consequences for our community,” said United States Attorney Clare E. Connors. “This large-scale prosecution reflects the highest level of cooperation among multiple federal and local law enforcement entities, and today’s sentence affirms that there will be accountability for those who profit from causing such harm in our state.”

    “Today’s sentencing represents years of collaboration between multiple law enforcement agencies to bring down one of Hawaii’s most dangerous drug operations,” said FBI Honolulu Special Agent in Charge Steven Merrill. “This case serves as a warning that we will use every resource available to make our communities safer by dismantling their operations and bringing their members to justice.”

    “Gabriel Eberhardt, a leader of a greed-driven drug trafficking organization, will be off our streets and behind bars for a very long time,” said DEA Los Angeles Field Division Deputy Special Agent in Charge Anthony Chrysanthis. “I want to thank DEA investigators and all state and local law enforcement partners, who worked tirelessly and with urgency to bring these criminals to justice.  However, our job here is not complete. We will continue to investigate, pursue and take apart these operations.”  

    “Mr. Eberhardt’s egregious actions were exacerbated by his using a firearm to shoot a person in furtherance of his drug trafficking,” said ATF Seattle Special Agent in Charge Jonathan Blais. “When search warrants were executed for this operation, seven firearms were recovered, including semiautomatic rifles and handguns, which further shows the dangers to the community posed by Mr. Eberhardt and his co-conspirators. This significant sentence was clearly warranted.”

    “Sending illegal drugs in the mail harms our communities and endangers postal workers, said USPIS Inspector in Charge Stephen Sherwood. “Postal inspectors will not allow the U.S. Mail to be misused to facilitate drug trafficking activities. I want to express my gratitude to our law enforcement partners for their teamwork to disrupt and dismantle this dangerous drug trafficking organization.”

    “The success of this investigation is directly attributable to multi-agency cooperation and the shared commitment to making Honolulu safer for our residents and visitors,” said HPD Chief Arthur “Joe” Logan. “The Honolulu Police Department will continue to work closely with our Federal partners to identify, disrupt, and dismantle drug trafficking organizations operating across Oahu.”

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

    The case was investigated by FBI, DEA, ATF, USPIS, and HPD. Assistant U.S. Attorney Craig S. Nolan is prosecuting the case.

    MIL Security OSI

  • MIL-OSI Security: Houston Residents Charged With Stealing DoorDash Delivery Workers’ Wages

    Source: Office of United States Attorneys

    OAKLAND – A federal grand jury indicted Oluwatobi Otukelu and Evan Edwards on charges of conspiracy and causing damage to a computer in connection with an alleged scheme to steal wages earned by workers of a delivery service, announced United States Attorney Ismail J. Ramsey and Federal Bureau of Investigation (FBI) Special Agent in Charge Robert K. Tripp.  Defendant Otukelu made his first appearance in Oakland to face the charges after having previously appeared with Defendant Edwards in federal court in Houston, Tex.

    According to the indictment, Otukelu, 25, and Edwards, 24, both of Houston, conspired to carry out a scheme to defraud DoorDash, Inc. (DoorDash) by fraudulently obtaining wages of independent contractors, called “Dashers,” who made deliveries for the delivery service.  As part of this scheme, the co-conspirators allegedly obtained the personal identifying information of Dasher victims; falsely impersonated the Dasher victims to DoorDash support; took over Dashers’ existing online accounts; created new, unauthorized accounts using Dashers’ personal information; and directed payments of Dasher wages from DoorDash to accounts controlled by Otukelu and Edwards. The indictment further alleges that the defendants used the stolen funds to pay for and attempt to pay for goods and services, including vehicles, airline tickets, cosmetic procedures, and personal training. The indictment alleges that Otukelu and Edwards stole the DoorDash wages of at least 138 individual Dashers, amounting to over $1 million.

    Otukelu and Edwards were arrested in Houston on Sept. 26, 2024, and made their initial appearances in Houston the same day. Defendant Otukelu was ordered detained pending trial. Defendant Edwards was released on a $25,000 bond. Otukelu’s next scheduled appearance is at 10:30 a.m. on Oct. 22, 2024, for status regarding detention before the Hon. Kandis A. Westmore, U.S. Magistrate Judge. Edwards’ initial appearance in this District has not yet been scheduled.

    An indictment merely alleges that crimes have been committed, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt. If convicted, the defendants face the following maximum penalties:

    CHARGE STATUTES MAXIMUM STATUTORY PENALTIES
    Conspiracy to Commit Wire Fraud 18 U.S.C. § 1349 Twenty years of imprisonment; $250,000 fine; three years of supervised release; $100 special assessment; forfeiture; and restitution
    Conspiracy 18 U.S.C. § 371 Five years of imprisonment, $250,000 fine; three years of supervised release; $100 special assessment; forfeiture; and restitution
    Causing Damage to a Protected Computer 18 U.S.C. §§ 1030(a)(5)(A), (c)(4)(A)(i)(I), and (c)(4)(B)(i) Ten years of imprisonment; $250,000 fine; three years of supervised release; $100 special assessment; forfeiture; and restitution

    However, any sentence following conviction would be imposed by the court after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553.

    Assistant U.S. Attorney Michelle J. Kane is prosecuting the case with the assistance of Kathy Tat. The prosecution is the result of an investigation by the FBI.

    Oluwatobi Emmanuel Otukelu Indictment
     

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  • MIL-OSI Security: Cordova Man Sentenced in Connection with $5.9 Million Insurance Fraud Scheme

    Source: Office of United States Attorneys

    Memphis, TN – Christopher C. Brown, 47, of Cordova, Tennessee, was sentenced to 27 months in federal prison and ordered to pay $5,214,302.00 in restitution after his conviction related to a multi-year scheme to defraud four insurance companies.  Reagan Fondren, Acting United States Attorney for the Western District of Tennessee, announced the sentence today.

    While operating a music recording business on Monroe Avenue in Memphis, Brown made claims to Main Street Assurance Company for alleged losses of over $340,000 due to water damage and a purported burglary at the business location.  Main Street paid Brown’s claims.  Brown then obtained insurance coverage for the same business location from Markel Corporation.  Brown made a claim to Markel for $2,840,000 for alleged fire damage to the location, and the claim was honored.

    Brown then formed a limited liability corporation named Tattooed Millionaire Entertainment (TME).  This action allowed Brown to apply for insurance coverage without disclosing his previous insurance claims.  Through TME, Brown purchased a second Memphis property at Rayner Street which had previously housed a well-known recording studio known as the House of Blues.  Brown obtained insurance coverage for the Rayner property and music recording business from Hanover American Insurance Company.  Brown later filed a claim with Hanover for purported damages from an arson fire that damaged the Rayner property, and Hanover paid him $2,200,000 on that claim.

    During this time, Brown also obtained vehicle insurance from Progressive Insurance on a 1985 diesel bus.  He later filed a claim with Progressive alleging that the bus had been stolen.  Progressive paid Brown $109,580 in settlement of that claim.

    In Brown’s claims with the four victim insurance companies, Brown made false statements and representations.  This included the submission of fake or altered documents to the companies.

    In September 2023, Brown pled guilty to mail fraud.  On October 17, 2024, United States District Court Judge Samuel H. Mays sentenced Brown to 27 months of incarceration followed by 2 years of supervised release and ordered him to pay $5,214,302.00 in restitution.  There is no parole in the federal system.

    Acting U.S. Attorney Fondren said, “Insurance fraud schemes like this cheat honest companies and their policyholders.  These schemes also raise the cost of insurance for everyone and make it harder for people to obtain needed insurance in the first place.  Whenever fraud like this occurs in the Western District of Tennessee, this office will be prepared to hold offenders accountable for such crimes of dishonesty.”

    Inspector in Charge Tommy D. Coke, U.S. Postal Inspection Service, Atlanta Division, said, “This defendant misused the U.S. Mail to defraud four insurance companies of millions of dollars.  I believe this sentence will send a message that this type of crime is serious and let criminals know that our agency will continue to hold them accountable for their actions.”  

    This case was investigated by the United States Postal Inspection Service, the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), and the Shelby County Sheriff’s Office.

    Acting U.S. Attorney Fondren thanked Assistant United States Attorneys David Pritchard and Tony Arvin who prosecuted this case on the government’s behalf, as well as the law enforcement partners who investigated this case.

    ###

    For more information, please contact the media relations team at USATNW.Media@usdoj.gov. Follow the U.S. Attorney’s Office on Facebook or on X at @WDTNNews for office news and updates.

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  • MIL-OSI Security: Seattle man sentenced for string of marijuana dispensary robberies

    Source: Office of United States Attorneys

    Seattle – A 19-year-old Seattle-area man, was sentenced October 18, 2024, to 90 months in prison for a series of seven armed robberies of marijuana dispensaries, announced U.S. Attorney Tessa M. Gorman. Caiden James Charlton was arrested in June 2023, in connection with three armed robberies in May and June 2023. He pleaded guilty in July 2024 admitting his involvement in all seven robberies. At the sentencing hearing U.S. District Judge Richard A. Jones imposed three years of supervised release to follow prison.

    “This defendant and his juvenile accomplices targeted small businesses – marijuana dispensaries – across our region. With guns drawn they frightened employees grabbing cash and product and in one case even stealing the safe,” said U.S. Attorney Gorman. “This dangerous conduct cannot be tolerated.”

    According to records filed in the case, Charlton pleaded guilty in July 2024 to committing three pot shop robberies on May 30, 2023, The first robbery was of Herb’s House on NW 65th Street in Seattle. The second was West Seattle Cannabis and the third robbery was of Hashtag Cannabis on Nickerson Street in Seattle. On June 10, 2023, Charlton and an accomplice robbed Oz Cannabis on Stone Way in Seattle. The next day, June 11, 2023, Charlton robbed Novel Tree MJ in Bellevue, and on June 12, he robbed Seaweed Cannabis in Edmonds, Washington. Finally, on June 21, he and accomplices robbed Dockside Cannabis in the Ballard neighborhood of Seattle. In each of the robberies, surveillance video shows clothing, tattoos, and jewelry that was linked to Charlton. Victims of the robberies noted distinctive face tattoos around Charlton’s eyes that were not concealed by his mask.

    In each of the robberies, one of two intruders displayed a handgun and ordered the dispensary staff to open safes or empty the till. In addition to money, the suspects stole a large amount of marijuana products. In some cases, the safes at the dispensaries could not be opened due to time locks used to discourage robberies. In one case, the robbers stole the safe by detaching it from the floor.

    The robbery crew would run to a getaway car after the robberies – two of the cars had been reported stolen.

    In asking for an eight-year prison sentence Assistant United States Attorney Todd Greenberg wrote to the court, “The offense conduct in this case is extremely serious. Charlton went on a violent crime spree, robbing seven marijuana dispensaries over the course of 30 days. During each robbery, he and/or his accomplices were armed with firearms and used them – brandishing the guns, pointing them directly at the victims, etc. It is very fortunate that no one was shot or otherwise injured. The Court is well aware that similar robberies often end up with shootings and/or deaths, when victims act in ways not expected by the perpetrators or with the accidental discharge of a firearm.”

    Some the robbery victims wrote to the court about the trauma the robberies caused in their life. One owner wrote, “… these robberies destroyed the business my wife and I worked to build over the nine plus years…. When they walk into a business with guns and demand money and product, the impact goes way beyond the loss of money and product.”

    The case was investigated by the FBI, the Seattle Police Department, and the Bellevue Police Department, as well as the King County and Snohomish County Sheriffs’ Offices.

    The case was prosecuted by former Assistant United States Attorneys Erin H. Becker and Assistant United States Attorney Todd Greenberg. 

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  • MIL-OSI Security: Van Nuys Man Sentenced to More Than 20 Years in Prison for Trafficking Fentanyl and Cocaine via Darknet Marketplaces and Possessing Guns

    Source: Office of United States Attorneys

    LOS ANGELES – A San Fernando Valley man who admitted in court documents to causing one fatal fentanyl overdose was sentenced today to 248 months in federal prison for using darknet marketplaces to sell hundreds of thousands of dollars’ worth of fentanyl-laced pills and cocaine to buyers nationwide.

    Brian McDonald, 23, of Van Nuys, whose aliases include “Malachai Johnson,” “SouthSideOxy,” and “JefeDeMichoacan,” was sentenced by United States District Judge Michael W. Fitzgerald. 

    McDonald pleaded guilty on July 17 to one count of conspiracy to distribute fentanyl and cocaine, and one count of possession of firearms in furtherance of a drug trafficking crime. He has been in federal custody since May 2023.

    “This defendant led a drug-trafficking operation that used the dark corners of the internet to ship large quantities of fentanyl-laced pills – with deadly consequences,” said United States Attorney Martin Estrada. “My office will continue using every tool under federal law to prosecute and imprison criminals who prioritize greed over human life.” 

    From at least April 2021 until May 2023, McDonald and others conspired to sell fentanyl and cocaine via darknet marketplaces such as “White House Market,” “ToRReZ” and “AlphaBay.” McDonald, using aliases, created vendor profiles on these marketplaces to sell illegal drugs in exchange for cryptocurrency.

    McDonald created, monitored, and maintained the darknet vendor profiles, including by updating drug listings and shipment options, tracking drug orders received online, and offloading Monero cryptocurrency received as drug deal payments into cryptocurrency wallets that McDonald controlled. 

    McDonald recruited and hired accomplices to help with packaging and shipping the narcotics that they sold on the darknet. McDonald directed other co-conspirators on how to package and ship the narcotics, and he assisted them in the packaging and shipping. Specifically, McDonald purchased bulk quantities of fentanyl and cocaine, and then directed the activities of other co-conspirators to help sell these drugs on the dark web. 

    Among other activities, McDonald directed co-conspirators in receiving and tracking orders placed for fentanyl and cocaine on his dark web vendor profiles, packaging drug orders, and shipping drug orders to customers though the United States Postal Service. Over the course of the conspiracy, McDonald knowingly oversaw and carried out hundreds of drug sales involving the distribution of large quantities of both fentanyl and cocaine, including hundreds of thousands of fentanyl-laced pills that collectively contained more than 12 kilograms of fentanyl.

    As part of the conspiracy, McDonald distributed fentanyl-laced pills to victim Z.S., who ingested a fentanyl-laced pill sold to Z.S. by McDonald, which in turn resulted in Z.S.’s death. 

    McDonald also possessed firearms, specifically two gold-plated handguns – one without a serial number – to protect his drug trafficking business and the proceeds of drug sales made on darknet marketplaces.

    Ciara Clutario, 23, of Burbank, has pleaded guilty to a federal criminal charge in this case and is scheduled to be sentenced on January 13, 2025.

    The FBI and the Drug Enforcement Administration investigated this matter as part of JCODE. The Justice Department established the FBI-led JCODE team to lead and coordinate government efforts to detect, disrupt, and dismantle major criminal enterprises reliant on the darknet for trafficking opioids and other illicit narcotics, along with identifying and dismantling their supply chains. 

    Assistant United States Attorney Declan T. Conroy of the International Narcotics, Money Laundering, and Racketeering Section prosecuted this case.

    MIL Security OSI

  • MIL-OSI Security: Armed Robber Gets 10 Year Prison Sentence

    Source: Office of United States Attorneys

                WASHINGTON – Antone Watkins, 29, of Washington, D.C., was sentenced today to 10 years in prison for armed robbery and other firearm-related offenses, announced U.S. Attorney Matthew M. Graves and Chief Pamela A. Smith of the Metropolitan Police Department. 

    Watkins was found guilty by a Superior Court jury on July 3, 2024.

                Superior Court Judge Robert Salerno sentenced Watkins to 120 months in prison for armed robbery, 120 months for each of the two counts of possession of a firearm during a crime of violence, 78 months for assault with a dangerous weapon, and 36 months for unauthorized use of a vehicle. Each sentence will run concurrent to each other. In addition, Judge Salerno imposed that Watkins serve five years of supervised release.

                According to the government’s evidence, at around 10:47 p.m., on June 17, 2022, the victim was led into an alley near Howison Place and N Street SW. In that alley, Watkins brandished a firearm and hit the victim across the face with it, chipping his tooth. Watkins and two others then robbed the victim of his cash, chains, watch, and car keys. Video footage showed Watkins running from the alley, getting into the victim’s truck, and driving off. Further video footage showed Watkins only a few minutes later rummaging through the victim’s belongings in the truck. Police arrested Watkins on September 15, 2022, and he has been detained since.

                In announcing the sentence, U.S. Attorney Graves and Chief Smith commended the work of those who investigated the case from the Metropolitan Police Department. Invaluable assistance was provided by the Federal Bureau of Investigation and U.S. Probation Office from early in the case and through the trial. They also commended the work of Assistant U.S. Attorneys Mark Levy and Gregory Evans, who prosecuted the case and Assistant U.S. Attorney Tamara Rubb, who investigated the case.

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