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Category: Banking

  • MIL-OSI Banking: Secretary-General of ASEAN meets with the Minister for Digital Development and Information and Minister-in-charge of Smart Nation and Cybersecurity of Singapore over breakfast

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, had a breakfast meeting with H.E. Josephine Teo, Minister for Digital Development and Information and Minister-in-charge of Smart Nation and Cybersecurity of Singapore and the host of the 9th ASEAN Ministerial Conference on Cybersecurity. They exchanged views on the ASEAN Digital economy and digital transformation agenda, including key initiatives on cybersecurity, among others.

    The post Secretary-General of ASEAN meets with the Minister for Digital Development and Information and Minister-in-charge of Smart Nation and Cybersecurity of Singapore over breakfast appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

    January 23, 2025
  • MIL-OSI Economics: Money Market Operations as on October 16, 2024

    Source: Reserve Bank of India


    (Amount in ₹ crore, Rate in Per cent)

      Volume
    (One Leg)
    Weighted
    Average Rate
    Range
    A. Overnight Segment (I+II+III+IV) 5,40,974.48 6.30 5.00-6.50
         I. Call Money 8,755.18 6.44 5.10-6.50
         II. Triparty Repo 3,90,913.55 6.28 5.90-6.43
         III. Market Repo 1,40,357.75 6.33 5.00-6.50
         IV. Repo in Corporate Bond 948.00 6.45 6.40-6.50
    B. Term Segment      
         I. Notice Money** 1,906.22 6.43 5.85-6.50
         II. Term Money@@ 645.00 – 6.65-6.90
         III. Triparty Repo 210.00 6.45 6.40-6.45
         IV. Market Repo 1,637.29 6.56 6.49-6.60
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Wed, 16/10/2024 1 Thu, 17/10/2024 38,133.00 6.49
    3. MSF# Wed, 16/10/2024 1 Thu, 17/10/2024 5,872.00 6.75
    4. SDFΔ# Wed, 16/10/2024 1 Thu, 17/10/2024 73,858.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,06,119.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo Fri, 04/10/2024 14 Fri, 18/10/2024 44,275.00 6.49
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Tue, 15/10/2024 2 Thu, 17/10/2024 26,060.00 6.49
      Mon, 14/10/2024 4 Fri, 18/10/2024 24,070.00 6.49
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       7,222.87  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -83,642.13  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -1,89,761.13  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on October 16, 2024 9,76,272.62  
         (ii) Average daily cash reserve requirement for the fortnight ending October 18, 2024 10,01,756.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ October 16, 2024 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on September 20, 2024 4,18,318.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1312

    MIL OSI Economics –

    January 23, 2025
  • MIL-OSI Russia: Dad is Near: How to Celebrate Father’s Day at VDNKh

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    On the third Sunday of October, our country celebrates Father’s Day. In honor of the holiday, VDNKh has prepared a special promotion, within the framework of which on October 20, fathers with children will be able to receive a 30 percent discount when visiting several exhibition spaces. Guests will also enjoy thematic excursions at the sites of the VDNKh Museum City, events at the robot exhibition “Robostation”, in the robotics and innovation center “Kulibin Pro” and at the “City Farm”. And in the pavilion “House of Russian Cuisine”, fathers who are cooks with many children will hold master classes on preparing various dishes from the cuisines of the peoples of Russia.

    On October 20, a 30 percent discount can be received when visiting two facilities of the Orion family amusement park: the Aerial Tram cable car and the House of Fears attraction. And also the City Farm, the Museum of the Special Purpose Garage of the Federal Protective Service of Russia, the exhibitions In the Galaxy Far, Far Away, Terracotta Army. Immortal Warriors of China and Find Banksy, the SkyTown rope park, the Robostation and the Kulibin Pro center. To receive a discount at the box office, fathers with children must say the code phrase “it’s not scary with dad” and present identification documents, as well as proof of relationship. You can read the terms of the promotion on the VDNKh website.

    Interesting excursions

    On October 20 at 10:30, 13:00, 15:30 and 18:00 you can visit thematic excursions around the territory of the country’s main exhibition “Male images of VDNKh”. Guests will learn little-known facts about the people who left their mark on the history of VDNKh: for example, who was its first director or in whose honor the first chestnut tree was planted on the Cosmonauts’ Alley. Guests will gather at the VDNKh Museum.

    At 13:00, 15:00 and 17:00 the Cosmonautics and Aviation Center invites you to thematic excursions “Space Fathers”. Tour guides will tell you about the children of famous cosmonauts who followed in their fathers’ footsteps, about the founders of cosmonautics itself and the difficulties of orbital flight.

    And at 17:00, 18:00 and 19:00 in the pavilion “Worker and Kolkhoz Woman” thematic excursions will take place “Father’s Day at VDNKh: Inspiration and Traditions”. We will talk about who became the architect of this pavilion, who was the inventor in the field of cinema technology for the unique cinema at the main exhibition of the country, thanks to whom the revival of VDNKh took place.

    At 19:00, guests of the Museum of Slavic Literature “Slovo” are invited to a thematic excursion “Where there is a good father, there is a good son”. The father always served as an unconditional example for the younger generation, which was reflected in numerous Russian epics, fairy tales, sayings, proverbs and chronicles. You can learn about this and much more on the excursion.

    Celebration at the “Robostation” and in the “Kulibin Pro” center

    In honor of Father’s Day, the largest robotics exhibition “Robostation” (Pavilion No. 2) printed more than five thousand festive keychains on a 3D printer, which all guests will receive. On October 20 at 13:00, there will be a master class where children will make a gift for dad with their own hands and learn the basics of robotics and soldering. At the same time, there will be a master class “Constructor from Childhood”, where dads will be able to reminisce and assemble a Soviet metal constructor. At 14:00, as part of the karaoke guessing game, guests will be divided into two teams and will sing the famous song “Papa Can”, but they must remember the correct words and sing them instead of the gaps. The winners will be determined by the least number of mistakes, and everyone will receive gifts for participation.

    Throughout the day, there will be sparring sessions between dads and kids, where they will control robot boxers. The winners will receive gifts printed on a 3D printer. To participate in the activities, you must purchase entrance ticket to the exhibition.

    The Kulibin Pro Robotics and Innovation Center, which is located in the Cosmonautics and Aviation Center at VDNKh, has also prepared a festive program for Father’s Day. On October 20 at 1:00 p.m., a master class on construction for fathers and children will be held, during which guests will be able to assemble a suspension bridge from construction set parts. At 2:00 p.m., you can listen to a lecture entitled “Calling – Inventor.” Throughout the day, all fathers will be congratulated by Boris the Robot. To participate, you must purchase an entrance ticket to the center. “Cosmonautics and Aviation”.

    Walking with animals

    The “City Farm” at VDNKh has prepared its own festive program. The main characters will be not only human dads, but also animal fathers: alpaca Pedro, goat Ivan and goose Vasily. On October 19 and 20, guests will enjoy master classes and farm games. Walks with animals will also be organized. Over the course of two days, from 11:00 to 18:00, there will be master classes “Postcard for Dad”, “Autumn Craft”, “Toy for Animals”, “Animal Portraits”. At the same time, you can take part in the sports relay race “My Dad and Me”. At 13:00 and 16:00, there will be an interactive lecture “The Best Fathers in the Animal World”, and at the end of the event – a quiz.

    In addition, on October 19 and 20, guests of the City Farm will be able to walk with animals: a donkey (from 11:00 to 11:30), a sheep (from 12:00 to 12:30), goats (from 12:00 to 12:30, from 14:00 to 14:30 and from 16:00 to 16:30), an alpaca (from 15:00 to 15:30), and a reindeer (from 17:00 to 17:30).

    During the holiday weekend, you can also watch the feeding of nutria (at 11:00), poultry (at 16:00), goats, sheep, reindeer, alpacas and donkeys (from 17:30). Participation in all events is subject to an entrance ticket to the “City Farm”. The cost can be found out on the website.

    Master classes by fathers-chefs

    On October 20, the House of Russian Cuisine pavilion at VDNKh invites you to International Chef’s Day and Father’s Day. In 2024, these dates coincided, and in honor of this, regional entrepreneurs and chefs of the House of Russian Cuisine, and part-time fathers of many children, will hold free master classes from 12:00. They will dedicate them to preparing dishes from the cuisines of the peoples of Russia. Among the presenters are Mikhail Gavrilov (chef of the V Karelia Yest corner and father of three children), Alexander Volkov-Medvedev (chef of the Ruski restaurant and father of three children), Danila Kozlov (founder of a chain of northern delicacies stores, brand chef of the Azbuka Severa corner of the Republic of Sakha (Yakutia), father of three children), Alexey Votintsev (founder of the Perepechkin Udmurt cuisine chain, author and inventor of the mobile Russian stove, father of five children), Damdin Dashiev (founder of the Orda Buryat cuisine restaurants, father of four children).

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

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://vvv.mos.ru/nevs/item/145398073/

    MIL OSI Russia News –

    January 23, 2025
  • MIL-OSI: LHV Group Financial Calendar for 2025

    Source: GlobeNewswire (MIL-OSI)

    AS LHV Group has decided the company’s Financial Calendar for the 2025 financial year.

    In 2025 LHV Group plans to disclose information and organise the Annual General Meeting of shareholders according to the following schedule:

    11.02.2025 Q4 2024 and unaudited full year results
    13.02.2025 Disclosure of Financial Plan
    18.02.2025 January results
    04.03.2025 Audited results for 2024
    12.03.2025 February results
    26.03.2025 Annual General Meeting
    08.04.2025 Ex-dividend date (ex-date)
    22.04.2025 Q1 interim results
    13.05.2025 April results
    17.06.2025 May results
    22.07.2025 Q2 interim results
    12.08.2025 July results
    16.09.2025 August results
    21.10.2025 Q3 interim results
    18.11.2025 October results
    16.12.2025 November results

    LHV Group is the largest domestic financial group and capital provider in Estonia. The LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,100 people. As at the end of August, LHV’s banking services are used by 441,000 clients, the pension funds managed by LHV have 118,000 active clients, and LHV Kindlustus protects a total of 168,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

    Priit Rum
    Communication Manager
    Phone: +372 502 0786
    Email: priit.rum@lhv.ee

    The MIL Network –

    January 23, 2025
  • MIL-OSI Economics: Asian Development Bank and Kazakhstan: Fact Sheet

    Source: Asia Development Bank

    As of 31 December 2023, ADB has committed 131 public sector loans, grants, and technical assistance totaling $6 billion to Kazakhstan. ADB’s current sovereign portfolio in Kazakhstan includes 3 loans worth $452.2 million. In addition, ADB has committed $865 million nonsovereign financing for 38 transactions.

    Updated yearly, this ADB Fact Sheet provides concise information on ADB’s operations in the country and contact information.

    MIL OSI Economics –

    January 23, 2025
  • MIL-OSI Economics: RBI to conduct Overnight Variable Rate Reverse Repo (VRRR) auction under LAF on October 17, 2024

    Source: Reserve Bank of India

    On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on October 17, 2024, Thursday, as under:

    Sl. No. Notified Amount
    (₹ crore)
    Tenor
    (day)
    Window Timing Date of Reversal
    1 75,000 1 12:00 Noon to 12:30 PM October 18, 2024
    (Friday)

    2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1313

    MIL OSI Economics –

    January 23, 2025
  • MIL-OSI Economics: Underwriting Auction for sale of Government Securities for ₹33,000 crore on October 18, 2024

    Source: Reserve Bank of India

    Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on October 18, 2024.

    As per the extant scheme of underwriting notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD), are as under:

    (₹ crore)
    Security Notified Amount Minimum Underwriting Commitment (MUC) amount per PD Minimum bidding commitment per PD under ACU auction
    7.02% GS 2031 10,000 239 239
    7.23% GS 2039 13,000 310 310
    7.09% GS 2054 10,000 239 239

    The underwriting auction will be conducted through multiple price-based method on October 18, 2024 (Friday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E-Kuber) System between 09:00 A.M. and 09:30 A.M. on the day of underwriting auction.

    The underwriting commission will be credited to the current account of the respective PDs with RBI on the day of issue of securities.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1315

    MIL OSI Economics –

    January 23, 2025
  • MIL-OSI NGOs: Up to $41 billion in World Bank climate finance unaccounted for, Oxfam finds

    Source: Oxfam –

    Up to $41 billion in World Bank climate finance —nearly 40 percent of all climate funds disbursed by the Bank over the past seven years— is unaccounted for due to poor record-keeping practices, reveals a new Oxfam report published today ahead of the World Bank and IMF Annual Meetings in Washington D.C.

    An Oxfam audit of the World Bank’s 2017-2023 climate finance portfolio found that between $21 billion and $41 billion in climate finance went unaccounted for between the time projects were approved and when they closed.

    There is no clear public record showing where this money went or how it was used, which makes any assessment of its impacts impossible. It also remains unclear whether these funds were even spent on climate-related initiatives intended to help low- and middle-income countries protect people from the impacts of the climate crisis and invest in clean energy.

    “The Bank is quick to brag about its climate finance billions —but these numbers are based on what it plans to spend, not on what it actually spends once a project gets rolling,” said Kate Donald, Head of Oxfam International’s Washington D.C. Office. “This is like asking your doctor to assess your diet only by looking at your grocery list, without ever checking what actually ends up in your fridge.”

    The Bank is the largest multilateral provider of climate finance, accounting for 52 percent of the total flow from all multilateral development banks combined.

    The issue of climate finance will take center stage at this year’s COP in Azerbaijan, where countries are set to negotiate a new global climate finance goal, the New Collective Quantified Goal (NCQG). Climate activists are demanding the Global North provide at least $5 trillion a year in public finance to the Global South to pay for climate adaptation, the loss and damage caused by the impacts of climate breakdown, and a just transition away from fossil fuels to renewable energy. Oxfam warns that the lack of traceable spending could undermine trust in global climate finance efforts at this critical juncture.

    “Climate finance is scarce, and yes, we know it’s hard to deliver. But not tracking how or where the money actually gets spent? That’s not just some bureaucratic oversight —it’s a fundamental breach of trust that risks derailing the progress we need to make at COP this year. The Bank needs to act like our future depends on tackling the climate crisis, because it does,” said Donald.

    Oxfam’s investigation revealed that obtaining even basic information on how the World Bank is using climate finance was painstaking and difficult.

    “We had to sift through layers of complex and incomplete reports, and even then, the data was full of gaps and inconsistencies. The fact that this information is so hard to access and understand is alarming —it shouldn’t take a team of professional researchers to figure out how billions of dollars meant for climate action are being spent. This should be transparent and accessible to everyone, most importantly communities who are meant to benefit from climate finance,” said Donald.
     

    MIL OSI NGO –

    January 23, 2025
  • MIL-OSI Economics: Result of the Overnight Variable Rate Reverse Repo (VRRR) auction held on October 17, 2024

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 75,000
    Total amount of offers received (in ₹ crore) 40,385
    Amount accepted (in ₹ crore) 40,385
    Cut off Rate (%) 6.49
    Weighted Average Rate (%) 6.49
    Partial Acceptance Percentage of offers received at cut off rate NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1316

    MIL OSI Economics –

    January 23, 2025
  • MIL-OSI: EIB submits SEC Form 18-K/A Amendment n. 8 – EIB Board of Directors approves Ukraine Energy Rescue Plan

    Source: GlobeNewswire (MIL-OSI)

    For immediate release

    17 October 2024

    EIB submits SEC Form 18-K/A Amendment No. 8

    The European Investment Bank (EIB) has submitted its SEC Form 18-K/A Amendment No. 8.

    To view the document, please go to: EDGAR Filing Documents for 0000950157-24-001415 (sec.gov)

    The 18-K/A has also been posted on the EIB website: Amendment to the Annual Report 2023 (Form 18-K/A Amendment No 8) (eib.org)

    ENDS

    The MIL Network –

    January 23, 2025
  • MIL-OSI Banking: ICC DSI launches digital trade reliability assessment tool  

    Source: International Chamber of Commerce

    Headline: ICC DSI launches digital trade reliability assessment tool  

    Developed by the International Chamber of Commerce (ICC)’s Digital Standards Initiative (DSI) and the Digital Governance Council (DGC) of Canada, the new assessment framework enables an entity to deploy ETRs in place of paper trade documentation assessing a platform’s ability to effect the transfer in conformity with the definition of the Model Law on Electronic Transferable Records (MLETR) definition of reliability. As more economies align to the MLETR, the assessment allows for service providers to assert their reliability through a commonly accepted market standard.  

    Pamela Mar, Managing Director, ICC DSI said : 

    “The reliability assessment framework is a collective effort drawing on the knowledge and work of technical and commercial experts from various entities involved in digital trust, standards, certifications and assessment. This launch is an important first step in the development of a framework for ensuring digital trust at scale, an important pillar of the digital trade ecosystem.” 

    ICC DSI and the DGC led a working group of standards bodies, technical experts, assessment firms, and commercial and industry entities to develop the tool that holds potential to become a major credential for this part of digital trade services. The working group operated with advice from the Industry Advisory Board of ICC DSI.  

    Keith Jansa, CEO, DGC of Canada said : 

    “The collaborative effort between ICC and DGC has resulted in a groundbreaking technical self-assessment for the reliability of systems that enable the transfer of Electronic Transferable Records (ETRs). This is a major step towards international standardisation and formal recognition of digital service providers enabling the global digital trade and we look forward to continuing the work with ICC and the ETR community.” 

    The assessment framework was recently piloted by several ETR service providers to test its robustness, utility and market relevance. It has been released as a beta version for self-assessment, while plans for a certification with third party assessment are in development.  

    To access the assessment framework, visit: https://github.com/dgc-cgn/CAS-Digital-Trade-Documentation  

    A 30-min webinar with a live Q&A will take place on 30 October, Wednesday, 9pm SGT / 9am Ottawa / 3pm CET.  Register, free of charge here.   

    For more details about the ICC Digital Standards Initiative, please visit: http://www.dsi.iccwbo.org. 

    MIL OSI Global Banks –

    January 23, 2025
  • MIL-OSI Submissions: Economy – GlobalData upgrades India’s growth forecast, citing strong domestic consumption and investor confidence

    Source: GlobalData

    India’s economy is thriving, bolstered by strong domestic demand, rural consumption, and a growing working-age population. Infrastructure investments are enhancing productivity in the manufacturing and services sectors, fostering high investor confidence. 

    Against this backdrop, GlobalData, a leading data and analytics company, has revised India’s economic growth forecast for 2024 and 2025 by 0.3 percentage points (pp) and 0.2pp in its Q4 2024 update compared to the previous projections made in Q3 2024.

    GlobalData’s latest report, “Macroeconomic Outlook Report: India,” reveals that India’s GDP increased by 7.6% in 2023 and is projected to grow by 7.0% in 2024 and 6.6% in 2025. Inflation is expected to decrease to 4.4% in 2024, down from 5.6% in the previous year.

    To combat inflation, the Reserve Bank of India (RBI) has kept the repo rate steady at 6.5% for the 10th consecutive meeting in October 2024, emphasizing its commitment to stabilizing prices and supporting economic growth amidst the changing economic conditions.

    Moreover, the rebound in India’s private consumption, indicated by a 7.4% rise in Private Final Consumption Expenditure (PFCE) for Q2 2024, suggests increased economic resilience and a potential boost in rural spending. This recovery, fueled by lower inflation and improved agricultural performance, may enhance the overall GDP growth, supporting investor confidence.

    Gayatri Ganpule, Economic Research Analyst at GlobalData, comments, “Despite the geopolitical uncertainties, India’s economy shows resilience. Although inflation increased in September 2024, the projected annual rate of 4.4% is lower than the last year’s 5.6%. This expected lower price level, along with the festive season, is expected to boost consumption in Q4 2024. However, rising oil prices are a major concern, as India relies on imports for about 88% of its oil needs, risking imported inflation.”

    In terms of sectors, financial intermediation, real estate, and business activities contributed 22.7% to the gross value added (GVA) in 2023, followed by mining, manufacturing, and utilities (18.7%) and agriculture (17.7%). In nominal terms, the three sectors are forecast to grow by 11.9%, 9.5%, and 9.7%, respectively, in 2024 as compared to the 9.9%, 8.1%, and 5.4% growth recorded in 2023.

    India’s 2024-25 budget prioritizes job creation and enhancing the business environment through strategic tax reforms to attract foreign investment. The proposed measures include a review of the Income-tax Act, an amnesty scheme for tax disputes, and incentives for job creation. Simplifying foreign direct investment frameworks and adjusting capital gains taxes are expected to stimulate economic growth. These initiatives aim to resolve tax disputes and foster a more favorable investment climate.

    India’s net foreign direct investment (FDI) increased to $6.9 billion in Q2 2024, up from $4.7 billion during the same period last year, as per the RBI data. This growth was driven by a 26.4% rise in gross inward FDI, totaling $22.5 billion. Sectors such as manufacturing, financial services, and energy contributed to 80% of these inflows, primarily from countries like Singapore and the US. During a recent roundtable meeting on 14 October 2024, Indian Prime Minister Narendra Modi engaged with business leaders from Singapore, leading to a commitment of approximately $60 billion in investments across various sectors in India.

    On the external front, India aims to achieve $2 trillion in exports by 2030 under its new Foreign Trade Policy. The country recorded a current account surplus of $5.7 billion in Q1 2024, driven by service exports and remittances. As of 10 March 2024, India signed 14 free trade agreements (FTAs), including one with the European Free Trade Association (EFTA), to improve exports and market access, seeking preferential ties with 94 countries. The ongoing negotiations could extend these agreements to over 120 countries, strengthening India’s global trade relationships.

    India is categorized as a medium-risk nation and ranked 75th out of 153 nations in the GlobalData Country Risk Index (GCRI Q2 2024). The country’s risk score was lower in terms of political, legal, and technology and infrastructure risk parameters when compared with the average score of the world.

    Ganpule concludes, “India’s economy demonstrates resilience, supported by robust domestic demand and government reforms aimed at enhancing investment. However, challenges such as increasing oil prices and high youth unemployment remain pressing issues. Continued efforts to expand trade and attract foreign investment are key to sustaining growth.”

    Notes

    The information is based on GlobalData’s latest report, “Macroeconomic Outlook Report: India” (ref. https://www.globaldata.com/store/report/india-pestle-macroeconomic-analysis/?utm_source=cision&utm_medium=press%20release&utm_campaign=gd_press%20release_cision_economic%20research_india_pestle%20report )

    About GlobalData

    4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis, and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology, and professional services sectors.

    MIL OSI – Submitted News –

    January 23, 2025
  • MIL-OSI Europe: The European Supervisory Authorities share highlights from the 2024 Joint Consumer Protection Day in Budapest

    Source: European Banking Authority

    On 3 October , the three European Supervisory Authorities (ESAs) – the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA) – organised the 11th edition of their annual Consumer Protection Day, in Budapest.

    The event followed the theme of “Empowering EU consumers: fair access to the future of financial services” and had three panels covering the topics of artificial intelligence (AI) in financial services, access to consumer centric products and services, and sustainable finance. Speakers and panellists included leaders from consumer organisations, regulatory authorities, EU institutions, academia, and market participants from across the European Union, with 300 participants on-site and more than 600 viewers online.

    Speeches were delivered by the three ESAs Chairs – Verena Ross (ESMA and currently Joint Committee Chair), Jose-Manuel Campa (EBA), and Petra Hielkema (EIOPA) – as well as Csaba Kandrács, Deputy Governor of the Central Bank of Hungary and Agustín Reyna, the Director General of the European Consumer Organisation (BEUC). A fire-side chat also took place with Chris Betz, Chief Information Security Officer of Amazon Web services to discuss generative AI.

    On Artificial Intelligence, panellists exchanged views about the potential benefits of AI, such as fraud detection and the automation of processes to detect and prevent money laundering, as well as the risks, such as the lack of transparency and explainability. Panellists emphasised the need to better understand the technology to assess how those risks can be mitigated. Some panellists highlighted the importance for the ESAs to facilitate knowledge sharing, ensure regulatory and supervisory convergence and create the conditions for innovation to grow. Some industry players also called on the ESAs to issue ‘guardrails’ or other guidance on how financial institutions should comply with the new EU AI Act.

    During the panel on access to consumer centric financial products and services, panellists discussed the need to strengthen  financial education, pay greater attention to vulnerable consumers, and enable them to understand and access standard financial services packages (payment account, saving account, home/health insurance). The importance of better understanding consumer needs and preserve consumer trust was also highlighted.

    On sustainable finance, panellists remarked that investors still struggle to understand the technicalities of  product disclosures and the complex terminology attached to such disclosures. Simplification of the current Sustainable Finance Disclosures Requirements towards a categorisation system that works for retail investors was considered by the panellists to be the main area that regulators should focus on,  in addition to enhancing the financial literacy of retail investors.

    The ESAs will reflect on the input and suggestions heard from the audience and the panellists, and discuss the actions to be strenghtened  or to be taken going forward.

    See the EBA webpage and the recording of the event here. 

    MIL OSI Europe News –

    January 23, 2025
  • MIL-OSI Europe: Together for Frankfurt: New corporate initiative supports social projects in the city’s station district

    Source: Deutsche Bundesbank in English

    A joint initiative by companies and institutions based in and around Frankfurt’s Bahnhofsviertel – the district surrounding its central railway station – intends to help improve the difficult situation in the area. Known as the BHV corporate initiative (BHV being an acronym for Bahnhofsviertel), it aims to make a positive contribution to the district and support selected social projects through constructive dialogue with the city. Representatives of the participating companies presented the initiative at a joint event today with Frankfurt’s mayor Mike Josef. Speaking at the K9 advice centre, one of the welfare facilities to receive financial support from the BHV corporate initiative, they reaffirmed their commitment to the district and called for further intensive efforts to find solutions to the area’s problems.
    Mayor Josef highlighted the following: When I took office one and a half years ago, a particularly important topic was the situation in the station district. And it remains so to this day. The many meetings I have had over the past few months have included conversations with companies, their representatives and employees based in or near the station district. It has become clear that the situation in the district needs to change. He went on to say: I am pleased that many conversations have been very constructive. With the BHV corporate initiative, several companies and institutions have decided to provide financial support to social facilities in the station district. I would like to take this opportunity to express my sincere thanks for this.
    We have joined forces in a cross-sectoral initiative to improve the situation in the station district for people who spend time here for a multitude of different reasons. We want to achieve this by supporting tangible projects, said Stephan Bredt, chief operating officer at the Bundesbank, one of the institutions bringing ideas to the joint initiative. The Bundesbank, which has offices in and around the station district, is happy to contribute to its success by getting involved and providing good ideas. We see ourselves at the beginning of a long-term undertaking and invite other interested parties to join in.
    The BHV corporate initiative, which currently comprises eleven companies and institutions with around 26,000 employees in and around the station district, is supporting various aid projects for people in need. Indirectly, these may also help to improve the district’s appearance. In a first step, the initiative will support four facilities in the district with funding of €100,000 each:
    The K9 advice centre for projects that help people with drug addiction regain a foothold in labour market;
    La Strada drug help centre to extend and renovate its community café and drug consumption rooms and expand its provision of medical care;
    The night café on Moselstrasse to provide warm meals for people battling addiction;
    Malteser Werke to expand their emergency medical service in the district as part of their proactive social work.
    As a gateway to the city, the station district has great economic, cultural and social potential. In order to harness this, the current problems need to be tackled on a lasting basis, said Christian Sewing, CEO of Deutsche Bank, speaking on behalf of the companies involved. We welcome the initiative of the mayor and the municipal administration of Frankfurt to develop and implement forward-looking solutions for the station district. It is important that initial improvements are now quickly followed by further tangible steps. As corporate citizens, we want to exercise our social responsibility and make an active contribution to improving the situation and unlocking the district’s full potential.
    The participants of the BHV initiative are making a long-term commitment. In addition to the specific financial support to social facilities provided by the companies involved, the initiative aims to liaise closely with the city on the progress made in the district. Moreover, participants are harnessing the initiative to improve the exchange of information with regard to the challenges and opportunities in the district. Other companies and institutions that would like to get involved are welcome to join at any time.
    Current participants
    Bank of America
    Deutsche Bundesbank
    Deutsche Bank
    Deutsche Vermögensberatung
    DWS
    DZ Bank
    Frankfurter Volksbank Rhein-Main
    Helaba
    Merz Pharma
    Momeni Group
    Nestlé Deutschland

    MIL OSI

    MIL OSI Europe News –

    January 23, 2025
  • MIL-OSI Economics: Development Asia: Enhancing Statistical Capabilities for Climate Action

    Source: Asia Development Bank

    Improving statistical capacity in various areas of climate change relies on collaboration among governments, international development and research organizations, academia, and the private sector to foster innovation and the exchange of knowledge.

    By pooling resources and expertise, new capacity building initiatives can drive the development of best practices in the compilation of climate change data and statistics, ensuring national statistics offices have the latest and most powerful statistical tools and methodologies at their disposal. Through these collaborative efforts, national statistics offices will be better positioned to contribute effectively to global climate action, bolstering efforts to mitigate and adapt to the impacts of a changing climate.

    ADB’s survey on the compilation of climate change statistics in Asia and the Pacific suggests that such collaboration is already underway among national statistics offices in member economies. Eighteen national statistics offices reported collaborating with other government agencies, sectors, or international organizations to address data gaps in statistics related to climate change. Other actions commonly taken by national statistics offices included use of administrative and big data and improvements to data infrastructure.

    Figure 4. Measures Taken by National Statistics Offices to Address Data Gaps on Climate Change

    NSO = national statistics office.
    Source: Asian Development Bank analysis using data from the bank’s 2024 Climate Change Data Granularity and Statistical Capacity Building Survey.

    Support provided by more advanced national statistics offices to their peers with fewer resources can also help build capacity and promote the exchange of best practices, ultimately contributing to the development of robust climate change statistics programs across Asia and the Pacific.

    The survey showed that six of the 29 national statistics offices respondents in Asia and the Pacific indicated that they had provided support related to climate change statistics to other economies, either directly (three of six) or through associated organizations (four of six). Feedback from the six economies that provided support states that the most common types of assistance were for capacity building and project proposals. Other types of support included short-term assistance, provision of experts, and support on acquisition of technological and/or digital infrastructure and equipment.

    MIL OSI Economics –

    January 23, 2025
  • MIL-OSI Germany: Together for Frankfurt: New corporate initiative supports social projects in the city’s station district

    Source: Deutsche Bundesbank in English

    A joint initiative by companies and institutions based in and around Frankfurt’s Bahnhofsviertel – the district surrounding its central railway station – intends to help improve the difficult situation in the area. Known as the BHV corporate initiative (BHV being an acronym for Bahnhofsviertel), it aims to make a positive contribution to the district and support selected social projects through constructive dialogue with the city. Representatives of the participating companies presented the initiative at a joint event today with Frankfurt’s mayor Mike Josef. Speaking at the K9 advice centre, one of the welfare facilities to receive financial support from the BHV corporate initiative, they reaffirmed their commitment to the district and called for further intensive efforts to find solutions to the area’s problems.
    Mayor Josef highlighted the following: When I took office one and a half years ago, a particularly important topic was the situation in the station district. And it remains so to this day. The many meetings I have had over the past few months have included conversations with companies, their representatives and employees based in or near the station district. It has become clear that the situation in the district needs to change. He went on to say: I am pleased that many conversations have been very constructive. With the BHV corporate initiative, several companies and institutions have decided to provide financial support to social facilities in the station district. I would like to take this opportunity to express my sincere thanks for this.
    We have joined forces in a cross-sectoral initiative to improve the situation in the station district for people who spend time here for a multitude of different reasons. We want to achieve this by supporting tangible projects, said Stephan Bredt, chief operating officer at the Bundesbank, one of the institutions bringing ideas to the joint initiative. The Bundesbank, which has offices in and around the station district, is happy to contribute to its success by getting involved and providing good ideas. We see ourselves at the beginning of a long-term undertaking and invite other interested parties to join in.
    The BHV corporate initiative, which currently comprises eleven companies and institutions with around 26,000 employees in and around the station district, is supporting various aid projects for people in need. Indirectly, these may also help to improve the district’s appearance. In a first step, the initiative will support four facilities in the district with funding of €100,000 each:
    The K9 advice centre for projects that help people with drug addiction regain a foothold in labour market;
    La Strada drug help centre to extend and renovate its community café and drug consumption rooms and expand its provision of medical care;
    The night café on Moselstrasse to provide warm meals for people battling addiction;
    Malteser Werke to expand their emergency medical service in the district as part of their proactive social work.
    As a gateway to the city, the station district has great economic, cultural and social potential. In order to harness this, the current problems need to be tackled on a lasting basis, said Christian Sewing, CEO of Deutsche Bank, speaking on behalf of the companies involved. We welcome the initiative of the mayor and the municipal administration of Frankfurt to develop and implement forward-looking solutions for the station district. It is important that initial improvements are now quickly followed by further tangible steps. As corporate citizens, we want to exercise our social responsibility and make an active contribution to improving the situation and unlocking the district’s full potential.
    The participants of the BHV initiative are making a long-term commitment. In addition to the specific financial support to social facilities provided by the companies involved, the initiative aims to liaise closely with the city on the progress made in the district. Moreover, participants are harnessing the initiative to improve the exchange of information with regard to the challenges and opportunities in the district. Other companies and institutions that would like to get involved are welcome to join at any time.
    Current participants
    Bank of America
    Deutsche Bundesbank
    Deutsche Bank
    Deutsche Vermögensberatung
    DWS
    DZ Bank
    Frankfurter Volksbank Rhein-Main
    Helaba
    Merz Pharma
    Momeni Group
    Nestlé Deutschland

    MIL OSI

    MIL OSI German News –

    January 23, 2025
  • MIL-OSI Banking: Brazil’s Prosecutor General requests the closure of unfounded investigation into Transparency International

    Source: Transparency International

    Brazil’s Prosecutor General, Paulo Gonet, has requested the dismissal of an investigation into Transparency International, citing a lack of evidence and the absence of concrete facts indicating any criminal conduct.

    The investigation was based on false claims that Transparency International received funds from leniency agreements related to Operation Car Wash, a probe that exposed a vast corruption scheme within Brazilian state-owned enterprises nearly a decade ago.

    In February, the Supreme Court Justice Dias Toffoli ordered an investigation into Transparency International, just a week after Transparency International published its 2023 Corruption Perceptions Index, which highlighted setbacks in Brazil’s fight against corruption. The analysis specifically drew attention to Justice Dias Toffoli’s recent decision to invalidate evidence and suspend fines for corruption involving the large Brazilian companies Odebrecht (now Novonor) and J&F.

    The Prosecutor General’s decision this week to request the dismissal of the case is also based on the lack of jurisdiction of the Supreme Court and, in particularly Justice Toffoli, to investigate such allegations. This raises concerns about a growing trend of baseless attacks targeting civil society organisations that work to expose corruption in Brazil.

    François Valérian, Chair of Transparency International, said:

    “The attacks against Transparency International in Brazil, as in other parts of the world, are a direct response to our actions exposing corruption and underscore the importance of our work in confronting powerful interests.

    “However, this should never be normalised or tolerated. The freedom and safety of activists and other professionals working in the public interest, such as investigative journalists, are fundamental elements of a democracy.”

    Bruno Brandão, Executive Director Transparency International Brazil, said:

    “Baseless attacks will not silence Transparency International Brazil and our mission to fight corruption. Our resolve is stronger than ever, and we will continue to expose wrongdoing, advocate for the protection of civic space and the rights of citizens and civil society to express their concerns and demand justice.”

    Note to editors

    See also:

    • Transparency International Brazil’s statement.

    MIL OSI Global Banks –

    January 23, 2025
  • MIL-OSI Economics: Identity theft: BaFin warns consumers about the website fips-finance.com

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) has information that the company FIPS Finance & Development is providing financial services in Germany on its website fips-finance.com without the required authorisation. The company is not supervised by BaFin. Customers are incorrectly led to believe that the website is operated by an Austrian company that is registered in the Austrian company register. This is not the case. It is a case of identity fraud.

    Anyone wishing to conduct banking business or provide financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation.

    BaFin is issuing this information on the basis of section section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics –

    January 23, 2025
  • MIL-OSI Europe: Germany: EIB backs Vay’s launch of teledriven car-sharing services

    Source: European Investment Bank

    Vay

    • The EIB is lending €34 million to German remote-driving company Vay.
    • Berlin-based Vay is set to launch commercial services in Europe.
    • The investment is backed by the European Union’s InvestEU guarantee programme.

    The European Investment Bank (EIB) is lending €34 million to German teledriving technology startup Vay to help it develop its operations in Europe. The EIB loan will enable the Berlin-based company to accelerate the development of technology that enables a vehicle to be safely driven on city streets by a professionally trained human driver located at a remote teledrive station. Vay launched its first commercial service in the US city of Las Vegas in January 2024.

    Vay plans to offer door-to-door car sharing in more cities in Europe and North America, while it also develops business-to-business partnerships with car manufacturers and other strategic players in the sector. 

    “This investment once again demonstrates our commitment to supporting European tech pioneers with global ambitions, like Vay,” said EIB Vice-President Nicola Beer. “Developed here in Europe, their innovative technology opens up new ways to make passenger and goods transport more efficient while delivering clean, efficient and inclusive urban mobility in our cities.”

    Vay’s technology enables professionally trained teledrivers to drive vehicles to the customer’s pick-up location remotely. Once the car arrives, the user takes manual control and drives as with any regular vehicle. After the journey is complete, the user can exit without worrying about parking because a teledriver handles parking or drives the car to the next customer. The system offers more sustainable, door-to-door mobility at half the cost of traditional ride-hailing.

    Teledriving provides the distinct advantage of having a human driver remotely controlling the vehicle in real-time. As a result, the system of teledriven cars is simple to operate and offers a wide range of capabilities. This is different from fully autonomous vehicles, which face a greater number of technical and legal complexities.

    “We are proud that EIB has decided to invest in Vay as these funds will be instrumental in further developing our technology and supporting the company’s growth,” said Co-founder and Chief Executive Officer of Vay Thomas von der Ohe. “We share the same goal and are committed to promoting economic development within the European Union. Moreover, this investment will play a crucial role in strengthening the confidence and trust that EU regulators, partners and consumers have in Vay, paving the way for the commercial rollout of our services in European cities.”

    Vay is the only company in Europe to operate on public roads without a safety driver. At the start of 2024, it expanded its reach by launching a commercial teledriving service in Las Vegas, establishing itself as a pioneer in teledriven vehicles. Committed to creating safer, more sustainable and liveable cities, Vay leverages its teledriving technology to optimise the use of its electric fleet – potentially reducing the number of cars on roads.

    Vay is actively engaging with several cities and states across Europe and the United States to explore future launches of its teledriving service. In 2023, the company successfully conducted test drives without a safety driver on public roads in Hamburg, Germany. Following that significant milestone, Vay has been working closely with German authorities to prepare for the commercial launch of its service in Hamburg.

    The EIB loan is supported by the European InvestEU programme, which aims to trigger more than €372 billion in additional investment in new technologies until 2027. The deal is aligned with the InvestEU objective of promoting research, development and innovation.

    Background information

    The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. Its key priorities are climate and the environment, development, innovation and skills, small and medium companies (SMEs), infrastructure and cohesion. It works closely with other EU institutions to foster European integration, promote the development of the European Union and support EU policies in more than 140 countries worldwide.

    The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

    EIB venture debt is a quasi-equity investment product suitable for early and growth stage ventures, combining a long-term loan with an instrument linking the return to the performance of the company. The EIB has made over  100 venture debt investments since 2015 across Europe, totalling over €2.1  billion. With the backing of InvestEU, the EIB aims to support European ventures and scale-ups in the cleantech, deeptech and life sciences sectors.

    Vay develops automotive-grade technology for remote driving (“teledriving”), paving the way for sustainable and driverless mobility services. In February 2023, Vay became Europe’s first and only company to operate driverless vehicles on public roads. In January 2024, Vay launched its first commercial mobility service in Las Vegas, USA. Founded in Berlin in 2018 by Thomas von der Ohe, Fabrizio Scelsi, and Bogdan Djukic, Vay has 150+ employees and offices in Berlin, Hamburg, and Las Vegas, USA.

    Vay raised a USD 95m Series B funding round, attracting investors worldwide. These include Kinnevik, Coatue, Eurazeo, Atomico, La Famiglia, and Creandum, as well as prominent business angels such as former Alphabet CFO Patrick Pichette, former member of the Management Board for R&D, Design, CTO of Audi Peter Mertens and Spotify’s Chief Technology & Chief Product Officer Gustav Söderström. In 2024, Vay received a EUR 34m investment from the European Investment Bank (EIB).

    Vay Teledriven Mobility Services (IEU GT2)
    EIB backs Vay’s launch of teledriven car-sharing services
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    EIB backs Vay’s launch of teledriven car-sharing services
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    MIL OSI Europe News –

    January 23, 2025
  • MIL-OSI Europe: Press release – European Parliament Press Kit for the European Council of 17 and 18 October 2024

    Source: European Parliament

    European Parliament President Roberta Metsola will represent the European Parliament at the summit, where she will address the heads of state or government at 10.00 and hold a press conference after her speech.

    When: Press conference at around 11.00 on 17 October

    Where: European Council press room and via Parliament’s webstreaming or EbS.

    At their meeting in Brussels, heads of state or government will discuss how the EU can continue supporting Kyiv against Russian aggression, and the EU’s response to the latest events in the Middle East, where Israeli forces continue their attacks on Gaza and in Lebanon, while Iran has launched missiles against Israel. EU leaders will also focus on making the European economy more competitive, following the publication of Mario Draghi’s report, which calls for a boost in public investment and wide-ranging economic reforms. They will also discuss ways to manage migration flows and ensure border protection, climate change and biodiversity, and the situation in Georgia, Moldova, Venezuela and Sudan.

    Hamas terrorist attacks against Israel / Escalating violence in the Middle East

    President Metsola marked the one-year anniversary of terrorist attacks in Israel at the opening of the 7-10 October plenary session in Strasbourg. Recalling the horror of that day “that will live in infamy”, President Metsola said nothing could ever justify the indiscriminate mass murder, rape, kidnapping and torture that occurred one year ago. Since then, too few have been able to make it back to their loved ones – “this house will continue to do what we can to help bring them all home”, she said.

    The 7 October attacks triggered a cycle of war, death and devastation that has seen thousands killed in Gaza, and instability across the region, President Metsola stated. In remembering all those lost and taken, the President added that “Parliament’s calls for the immediate release of the remaining hostages will remain steadfast, our calls for ceasefire will remain resolute, and our efforts towards de-escalation will remain strong.” The work for real, dignified, long-term and sustainable peace will remain unwavering, she concluded. MEPs held a minute of silence in memory of all the innocent lives lost.

    In a resolution adopted on 25 April, MEPs strongly condemn the Iranian drone and missile attack on Israel and call for further sanctions against Iran. Parliament voices serious concern over the escalation and threat to regional security. MEPs reiterate their full support for the security of the State of Israel and its citizens and condemn the simultaneous rocket launches carried out by Iran’s proxies Hezbollah in Lebanon and Houthi rebels in Yemen against the Golan Heights and Israeli territory before and during the Iranian attack.

    At the same time, they deplore the attack on the Iranian consulate in the Syrian capital Damascus on 1 April, which is widely attributed to Israel. The resolution recalls the importance of the principle of the inviolability of diplomatic and consular premises, which must be respected in all cases under international law.

    Further reading

    Parliament marks one year from the October 7th attacks in Israel

    Parliament condemns Iran’s attack on Israel and calls for de-escalation

    Parliament calls on Israel to open all crossings to Gaza for humanitarian aid

    Israel-Hamas war: MEPs call for a permanent ceasefire under two conditions


    MEPs condemn Hamas attack on Israel and call for a humanitarian pause

    Resolution: The despicable terrorist attacks by Hamas against Israel, Israel’s right to defend itself in line with humanitarian and international law and the humanitarian situation in Gaza

    President Metsola at the European Council: EU must remain coherent and united

    Leading MEPs condemn attack by Hamas terrorists against Israel

    MEPs to contact

    David McALLISTER, (EPP, DE), Chair of the Committee on Foreign Affairs

    Marie-Agnes STRACK-ZIMMERMANN (Renew, DE), Chair of the Subcommittee on Security and Defence

    Russia’s war against Ukraine

    On 14 October, MEPs on the Trade Committee endorsed the Commission’s proposal to support Ukraine with an exceptional Macro-Financial Assistance (MFA) loan of up to €35 billion. This is the EU’s contribution under the G7’s initiative to support Ukraine with up to $50 billion (approximately €45 billion) to address Ukraine’s urgent financing needs in the face of Russia’s brutal war of aggression. The repayment of this exceptional MFA loan and of the loans from other G7 countries will come from the extraordinary revenues made from immobilised Russian Central Bank assets, and enabled by the Ukraine Loan Cooperation Mechanism, newly established under the Commission’s proposal. The plenary vote is scheduled during next week’s session in Strasbourg.

    In a resolution adopted on 19 September, MEPs want EU countries to lift current restrictions hindering Ukraine from using Western weapons systems against legitimate military targets in Russia. The text states that if current restrictions are not lifted, Ukraine cannot fully exercise its right to self-defence and remains exposed to attacks on its population and infrastructure. Parliament underlines that insufficient deliveries of ammunition and restrictions on their use risks offsetting the impact of efforts made to date, and deplores that EU countries are offering less bilateral military aid to Ukraine. MEPs reiterate their call for member states to fulfil their March 2023 commitment to deliver one million rounds of ammunition to Ukraine, and to accelerate the delivery of weapons, air defence systems and ammunition, including TAURUS missiles. They also restate their position that all EU countries and NATO allies should collectively and individually commit to annual military support for Ukraine of no less than 0.25% of their GDP.

    While calling on the EU and its member states to actively work towards achieving the broadest possible international support for Ukraine and identifying a peaceful solution to the war, MEPs say that any resolution must be based on full respect for Ukraine’s independence, sovereignty and territorial integrity. They also view holding Russia accountable for war crimes and reparations, and other payments by Moscow, as essential aspects of any solution. To this end, MEPs want the EU and like-minded partners to establish a sound legal regime to confiscate Russian state-owned assets frozen by the EU as part of efforts to compensate Ukraine for the massive damage it has suffered.

    With Russia’s war against Ukraine raging on, Parliament reconfirmed on 17 July its view that the EU must continue to support Kyiv for as long as it takes until victory. The resolution, which sets out the newly-elected European Parliament’s first official position on Russia’s war of aggression against Ukraine, restates MEPs’ continued support for Ukraine’s independence, sovereignty, and territorial integrity within its internationally recognised borders. It calls on the EU to maintain and extend its sanctions policy against Russia and Belarus, monitor and review its effectiveness and impact, and systematically tackle the issue of EU-based companies, third parties, and third countries that circumvent sanctions.

    Further reading

    Ukraine: Trade Committee endorses financial support backed by Russian assets

    MEPs: Ukraine must be able to strike legitimate military targets in Russia

    Newly elected Parliament reaffirms its strong support for Ukraine

    MEPs approve trade support measures for Ukraine with protection for EU farmers

    Joint Statement by the Presidents of the European Union Institutions on the occasion of the 2 year anniversary of the Russian invasion of Ukraine

    Parliament calls on the EU to give Ukraine whatever it needs to defeat Russia

    EU sanctions: new rules to crack down on violations

    MEPs: EU must actively support Russia’s democratic opposition

    Yulia Navalnaya: “If you want to defeat Putin, fight his criminal gang”

    Debate 12 March 2024: Preparation of the European Council meeting of 21 and 22 March 2024

    Debate 13 March 2024: Need to address the urgent concerns surrounding Ukrainian children forcibly deported to Russia

    Parliament wants tougher enforcement of EU sanctions against Russia

    A long-term solution for Ukraine’s funding needs

    How the EU is supporting Ukraine

    EU stands with Ukraine

    MEPs to contact

    David McALLISTER, (EPP, DE) Chair of the Committee on Foreign Affairs

    Marie-Agnes STRACK-ZIMMERMANN (Renew, DE), Chair of the Subcommittee on Security and Defence

    Karin KARLSBRO (Renew, SE), rapporteur on macro-financial assistance to Ukraine

    Competitiveness

    On 17 September, Mario Draghi outlined his blueprint for making Europe more competitive through closer cooperation in core areas and massive investment in shared objectives.

    Mr Draghi said that the EU needed to focus on three crucial issues: closing the innovation gap with the US and China; developing a joint plan to link the goal of decarbonisation with increased competitiveness; and boosting Europe’s security and reducing its dependence on foreign economic powers. A fit-for-purpose competitiveness agenda would require annual funding of between EUR 750 – EUR 800 billion for projects whose objectives were already agreed upon by the EU. Some of this money could come from private sources, but some would also need to be secured through public investment, including by new common debt issued specifically to fund key joint projects, Mr Draghi said.

    In a debate following Mr Draghi’s address, many MEPs agreed with his analysis that the EU economy must urgently change course. The EU should focus, they argued, on competition and innovation in key industries, along with more public and private investments in social, green and digital transformations. Some MEPs called for greater sovereignty and freer markets, and stressed that fighting climate change sabotages the EU economy. Others observed that growth is compatible with clean innovative technologies and social investment, to help citizens to learn new skills.

    Further reading

    Draghi to MEPs: “Europe faces a choice between exit, paralysis, or integration”

    MEPs adopt plans to boost Europe’s Net-Zero technology production

    New EU fiscal rules approved by MEPs

    MEPs to contact

    Borys Budka (EPP, PL), Chair Committee on Industry, Research and Energy

    Migration

    During a press point with the Estonian Prime Minister on 16 October, EP President Roberta Metsola stressed that it is “important that we implement the migration pact. We need to be fair with those eligible for protection, firm with those who are not, and harsh with smugglers and malign states like Belarus or Russia who seek to exploit those most vulnerable. Only a coordinated European approach can ensure the integrity of our borderless Schengen area.”

    On 9 October, Parliament debated how to strengthen the security of Europe’s external borders and the need for a comprehensive approach and enhanced Frontex support. You can watch the debate here. On 7 October, MEPs discussed the reintroduction of internal border controls in a number of member states and its impact on the Schengen Area. Watch the debate here.

    On 10 April, MEPs approved the new Migration and Asylum Pact. The package consists of ten legislative texts to reform the European migration and asylum policy and was agreed with EU member states. You can find the adopted texts here and watch the plenary debate here.

    Further reading

    MEPs approve the new Migration and Asylum Pact

    MEP to contact

    Javier ZARZALEJOS (EPP, ES), Chair of the Committee on Civil Liberties, Justice and Home Affairs

    Foreign affairs: Georgia, Moldova, Venezuela, Sudan

    In a resolution adopted on 9 October, MEPs say current democratic backsliding in Georgia effectively puts the country’s integration with the EU on hold. The text highlights how the ruling Georgian Dream party has pushed an increasingly authoritarian agenda, including on media freedom and LGBTQ+ rights. Coupled with changes to the country’s electoral legislation and growing anti-EU rhetoric, MEPs say these laws violate the freedom of expression, censor media, impose restrictions on critical voices in civil society and the NGO sector and discriminate against vulnerable people. They also make clear that unless the legislation is rescinded, progress cannot be made in Georgia’s relations with the EU.

    Against the backdrop of the continuing decline of Georgia’s democracy, Parliament demands that all EU funding provided to the Georgian government be frozen until the undemocratic laws are repealed. Any future funding of the Georgian government can only be disbursed under strict conditions, MEPs argue.

    On 9 October, MEPs adopted a resolution issuing a strong warning against continued Russian attempts to derail Moldova’s pro-European trajectory. The text vehemently condemns Russia’s escalating malicious activities, interference and hybrid operations ahead of Moldovans going to the polls to vote in the country’s presidential election and constitutional referendum on EU integration on 20 October. MEPs highlight the role played by a plethora of malicious actors, including pro-Russian Moldovan oligarchs and Russia’s state-funded RT network, in carrying out voter fraud schemes as well as cyber operations and information warfare. They also call on the EU and its member states to ensure that all necessary assistance is provided to Moldova to strengthen its institutional mechanisms and ability to respond to hybrid threats.

    The European Parliament reaffirms its support for Moldova’s path towards EU accession, calling on the European Commission to include the country in the Instrument for Pre-Accession Assistance (IPA III) and to prioritise funding for EU candidate countries in the next Multiannual Financial Framework (MFF) for 2028-2034. With EU accession talks with Moldova already having begun, MEPs call for a faster screening process and the timely organisation of the subsequent intergovernmental conferences.

    In a resolution adopted on 19 September, Parliament says the EU should do its utmost to ensure that Edmundo González Urrutia, the legitimate and democratically elected President of Venezuela, can take office on 10 January 2025. MEPs “strongly condemn and fully reject the electoral fraud orchestrated by the regime-controlled National Electoral Council, which refused to make public the official result.” They recognise Edmundo González Urrutia as the country’s legitimate and democratically elected president, and María Corina Machado as the leader of the democratic forces in Venezuela. They also strongly condemn the Venezuelan Government’s issuance of an arrest warrant for Mr González.

    On 8 October, MEPs held a plenary debate on the situation in Sudan. You can watch the debate here.

    Further reading

    Parliament says Georgia’s democracy is at risk

    Resolution: The democratic backsliding and threats to political pluralism in Georgia

    Parliament condemns Russia’s interference in Moldova

    Resolution: Strengthening Moldova’s resilience against Russian interference ahead of the upcoming presidential elections and a constitutional referendum on EU integration

    Venezuela: MEPs recognise Edmundo González as President

    Resolution: Situation in Venezuela

    MEPs to contact

    David McALLISTER, (EPP, DE) Chair of the Committee on Foreign Affairs

    Nils UŠAKOVS (S&D, LV), Chair of the Delegation to the EU-Armenia Parliamentary Partnership Committee, the EU-Azerbaijan Parliamentary Cooperation Committee and the EU-Georgia Parliamentary Association Committee

    Climate change and biodiversity

    A Parliament delegation will attend the UN Climate Change Conference (COP29) in Baku, Azerbaijan between 18 and 22 November 2024. MEPs will also adopt a resolution during the 13-14 November plenary session, which will constitute the delegation’s mandate for talks with international partners.

    Parliament will also send a delegation to the UN Biodiversity Conference (COP16) in Cali, Colombia, between 28 and 31 October 2024.

    MEPs to contact

    Lídia PEREIRA (EPP, PT), Chair of the delegation to the COP29 UN Climate Change Conference, Baku, Azerbaijan

    Antonio DECARO (S&D, IT), Chair of the Committee on the Environment, Public Health and Food Safety

    MIL OSI Europe News –

    January 23, 2025
  • MIL-OSI Asia-Pac: TONGA’S REAFFIRM ITS COMMITMENT AND UNWAVERING FAITH ON RENEWABLE ENERGY

    Source: Tonga Government

    Figure 1: Guest of Honours; Crown Prince Tupouto’a (fourth from left), Crown Princess Sinaitakala Tuku’aho (third from left), Princess Halaevalu (front row), Development Partners and the rest of the delegation during the Commissioning the Solar Powered Mini-grid

    Niuafo’ou, Tonga 11th October, 2024 – Crown Prince Tupouto’a ‘Ulukalala, Crown Princess Sinaitakala Tuku’aho and Princess Halaevalu commissioned the Solar Mini-grid system of Niuafo’ou. Minister of MEIDECC, Hon Fekita ‘Utoikamanu, HE Brek Batley, senior delegations from ADB, Tonga Power Limited, MEIDECC and the Prime Minister’s Office accompanied the guests of honor at the commissioning.

    Enthusiasm in the eyes of individuals who are granted the opportunity to enhance their access to electricity from limited hours each day to 24 hours per day, seven days a week was a was a significant milestone observed during the Commissioning of the solar mini-grid. The people of Niuafo’ou now have access to 24/7 electricity service generated from Renewable Energy.

    “I wish to reaffirm the Government’s commitment and Tonga’s unwavering faith on renewable energy as a key to addressing the single greatest threat to small island developing states – climate change”, said the Honourable Minister during the Commissioning.

    This is one of the Government’s ongoing efforts to improve quality and reliability of electricity supply that is generated from renewable energy. It is not just a technical shift from fossil fuels to renewable sources; it is a transformation that touches upon every aspect of Tongan lives especially in such remote communities like Niuafo’ou.

    The solar mini-grid was funded under the Tonga Renewable Energy Project (TREP) which was made possible through the kind assistance of the Green Climate Fund (GCF), Asian Development Bank (ADB), Australian Aid, and the Government of Tonga with the support of Tonga Power Limited  and the extraordinary efforts of the Principal Contractor, Infratec NZ and its sub-contractors during the installation stage.

    Tungua and Moungaone are in progress for the Haapai Islands and the 4 islands in Vavau (Hunga, Otea, Falevai, and Ofu) under the same project.

    MIL OSI Asia Pacific News –

    January 23, 2025
  • MIL-OSI: CIB Marine Bancshares, Inc. Announces Final Redemption of Preferred Stock

    Source: GlobeNewswire (MIL-OSI)

    BROOKFIELD, Wis., Oct. 17, 2024 (GLOBE NEWSWIRE) — CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH) announces the full and final redemption of all preferred stock pursuant to its Second Amended and Restated Articles of Organization. Effective October 31, 2024, approximately 14,633 of CIB Marine’s Series A Preferred shares and 1,610 of Series B Preferred shares will be redeemed at $825 per share. This redemption is a full redemption of all outstanding preferred stock; there will be no preferred stock remaining in the Company’s capital structure. The $13.4 million redemption will be funded by cash on hand resulting from a distribution from the Company’s wholly-owned subsidiary, CIBM Bank; a distribution from the Company’s non-bank subsidiary, CIB Marine Capital, LLC; and a portion of the $10 million subordinated debt offering completed in the first quarter of 2022. Documentation will be mailed to all preferred shareholders of record by the Company’s redemption agent, Computershare Trust Company, N.A., on or about October 17, 2024.

    Mr. J. Brian Chaffin, President and CEO of the Company stated, “The October 31st redemption of all remaining preferred stock is a great achievement for the Company and all our shareholders. This transaction increases liquidity for the remaining preferred shares and benefits our common shareholders in two ways: by eliminating the potentially dilutive convertible Series B shares and redeeming all outstanding preferred stock at a discounted rate. The $825 per share redemption price is below both its balance sheet carrying value of $850 per share and its liquidation preference value of $1,000 per share.”

    In addition, Mr. Mark Elste, Chaiman of the Board of Directors, noted. “This is a significant accomplishment that the Board of Directors and management have been focused on for more than four years. The redemption of all preferred stock simplifies the Company’s capital structure to only one form of equity: common stock with full voting rights. It opens up opportunities to continue building shareholder value, the likes of which have been constrained by the outstanding preferred stock.”

    CIB Marine Bancshares, Inc. is the holding company for CIBM Bank, which operates nine banking offices Illinois, Wisconsin, and Indiana, and has mortgage loan officers and/or offices in ten states. More information on the Company is available at http://www.cibmarine.com, including recent shareholder letters, links to regulatory financial reports, and audited financial statements.

    FORWARD-LOOKING STATEMENTS
    CIB Marine has made statements in this release that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. CIB Marine intends these forward-looking statements to be subject to the safe harbor created thereby and is including this statement to avail itself of the safe harbor. Forward-looking statements are identified generally by statements containing words and phrases such as “may,” “project,” “are confident,” “should be,” “intend,” “predict,” “believe,” “plan,” “expect,” “estimate,” “anticipate” and similar expressions. These forward-looking statements reflect CIB Marine’s current views with respect to future events and financial performance that are subject to many uncertainties and factors relating to CIB Marine’s operations and the business environment, which could change at any time.

    There are inherent difficulties in predicting factors that may affect the accuracy of forward-looking statements.

    Stockholders should note that many factors, some of which are discussed elsewhere in this release and in the documents that are incorporated by reference, could affect the future financial results of CIB Marine and could cause those results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. These factors, many of which are beyond CIB Marine’s control, include but are not limited to:

    • operating, legal, execution, credit, market, security (including cyber), and regulatory risks;
    • economic, political, and competitive forces affecting CIB Marine’s banking business;
    • the impact on net interest income and securities values from changes in monetary policy and general economic and political conditions; and
    • the risk that CIB Marine’s analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.

    These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. CIB Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to significant risks and uncertainties and CIB Marine’s actual results may differ materially from the results discussed in forward-looking statements.

    FOR INFORMATION CONTACT:
    J. Brian Chaffin, President & CEO
    (217) 355-0900
    brian.chaffin@cibmbank.com

    The MIL Network –

    January 23, 2025
  • MIL-OSI United Kingdom: G7 Cyber Expert Group recommends action to combat financial sector risks from quantum computing

    Source: United Kingdom – Executive Government & Departments

    G7 Cyber Expert Group publishes guidance for the finance sector on planning for quantum computing.

    The G7 Cyber Expert Group (CEG) – chaired by the U.S. Department of the Treasury and the Bank of England – released a public statement on 25 September highlighting the potential cybersecurity risks associated with developments in quantum computing and recommending steps for financial authorities and institutions to take to address those risks.

    G7 Cyber Expert Group statement on planning for the opportunities and risks of quantum computing (PDF, 483 KB, 3 pages)

    Quantum computers are being built that will be able to solve computational problems currently deemed impossible for conventional computers to solve within a reasonable amount of time.  While potentially providing significant benefits to the financial system, these powerful computers will also carry with them unique cybersecurity risks.  One of the most significant is that cyber threat actors could use quantum computers to defeat certain cryptographic techniques that secure communications and IT systems, potentially exposing financial entity data, including customer information.

    While the exact timeline for developing quantum computers with these capabilities is uncertain, there is a real possibility that such capabilities could emerge within a decade. These quantum computers would not only put future data at risk, but also any previously transmitted data that cyber adversaries have been able to intercept and store with the intent of decrypting later with quantum computers. Due to the potentially long lead time needed to put in place quantum-resilient technologies, the time to start planning is now.

    An initial set of quantum-resilient encryption standards was released by the National Institute of Standards and Technology (NIST) last month. Additional standards from NIST and other standard-setting bodies are expected in the future. It is important for financial entities to maintain the agility required to incorporate new encryption standards in a timely and appropriate manner as they become available.

    With the availability of NIST’s standards, some financial entities may be in a position now to start making the needed changes to implement quantum resilient technologies within their systems. Others may be dependent on vendors and other third parties to develop implementations of the new standards that can be incorporated once they become available. No matter where entities are in their adoption timelines, the G7 CEG strongly encourages financial authorities and institutions to begin taking the following steps to build resilience against quantum computing risks:

    1. Develop a better understanding of the issue, the risks involved, and strategies for mitigating those risks.
    2. Assess quantum computing risks in their areas of responsibility.
    3. Develop a plan for mitigating quantum computing risks.

    The CEG statement provides additional details on quantum computing risks and the specific actions that financial entities can start taking to build quantum resilience within the financial system.

    The G7 CEG’s membership includes representatives of financial authorities across all G7 jurisdictions as well as the European Central Bank.  It was founded in 2015 to serve as a multi-year working group that coordinates cybersecurity policy and strategy across the member jurisdictions.  In addition to policy coordination, the G7 CEG also acts as a vehicle for information sharing, cooperation, and incident response.

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    Updates to this page

    Published 17 October 2024

    MIL OSI United Kingdom –

    January 23, 2025
  • MIL-OSI Economics: RBI imposes monetary penalty on GoCapital Finance Limited, Chennai, Tamil Nadu

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated October 07, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on GoCapital Finance Limited, Chennai, Tamil Nadu (the company) for non-compliance with certain provisions of ‘Master Direction-Reserve Bank of India (Non-Banking Financial Company-Scale Based Regulation) Directions, 2023’, issued by RBI. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of clause (b) of sub-section (1) of section 58G read with clause (aa) of sub-section (5) of section 58B of the Reserve Bank of India Act, 1934.

    The correspondence of the company pertaining to the intimation of appointment of additional director revealed, inter alia, non-compliance with RBI directions on change in management of Non-Banking Financial Company. Based on the findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for failure to comply with the said directions. After considering the company’s reply to the notice and oral submissions made by it during the personal hearing, RBI found, inter alia that the following charge against the company was sustained, warranting imposition of monetary penalty.

    The company failed to take prior written permission of the RBI for effecting change in management resulting in change of more than 30 per cent of its directors, excluding independent directors.

    This action is based on deficiency in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1326

    MIL OSI Economics –

    January 23, 2025
  • MIL-OSI Economics: RBI imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Mandsaur, Madhya Pradesh

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated October 07, 2024, imposed a monetary penalty of ₹2.50 lakh (Rupees Two Lakh Fifty Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Mandsaur, Madhya Pradesh (the bank), for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with section 46(4)(i) and section 56 of the BR Act.

    The statutory inspection of the bank was conducted by the National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2023. Based on supervisory findings of non-compliance with statutory provisions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said provisions.

    After considering the bank’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia, that the following charge against the bank was sustained, warranting imposition of monetary penalty.

    The bank had failed to transfer eligible unclaimed deposit amounts to the Depositor Education and Awareness Fund within the prescribed period.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1327

    MIL OSI Economics –

    January 23, 2025
  • MIL-OSI Economics: RBI imposes monetary penalty on The Kottarakara Co-operative Urban Bank Limited, Kerala

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated October 07, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Kottarakara Co-operative Urban Bank Limited, Kerala (the bank) for non-compliance with specific directions issued by RBI under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by RBI with reference to its financial position as on March 31, 2023. Based on supervisory findings of non-compliance with RBI instructions issued under SAF and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions.

    After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI found, inter alia, that the following charge against the bank was sustained, warranting imposition of monetary penalty.

    The bank had sanctioned/renewed credit facilities to sectors having high level of NPA / defaults in non-adherence to directions issued under SAF.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1325

    MIL OSI Economics –

    January 23, 2025
  • MIL-OSI Economics: RBI imposes monetary penalty on The Catholic Co-operative Urban Bank Limited, Telangana

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated October 07, 2024, imposed a monetary penalty of ₹3.00 lakh (Rupees Three Lakh only) on The Catholic Co-operative Urban Bank Limited, Telangana (the bank) for non-compliance with certain directions issued by RBI on ‘Maintenance of Deposit Accounts – Primary (Urban) Co-operative Banks’, ‘Management of advances-UCBs’ and ‘Loans and advances to directors, their relatives, and firms /concerns in which they are interested’. This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    A scrutiny of the bank was conducted by RBI in October 2023. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty.

    The bank had:

    1. not monitored operations in certain deposit accounts and issued balance confirmation letters without having balance in those accounts, and

    2. sanctioned loans to relatives of a director.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1324

    MIL OSI Economics –

    January 23, 2025
  • MIL-OSI: Unlimited Hedge Fund Barometer: Emerging Markets Funds Dominated in Q3 as China Stocks Rally

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 17, 2024 (GLOBE NEWSWIRE) — Unlimited, an investment firm and ETF sponsor that uses proprietary technology to provide low-cost alternative strategies to a variety of investors, published its Q3 2024 Hedge Fund Barometer today, showing emerging markets hedge funds leading their peers with an average 5% gross return in the quarter. Global macro and managed futures funds saw the weakest performance in the quarter at -1.2%.

    According to Unlimited’s latest Barometer, aggregate hedge fund performance was moderately positive across most strategies in Q3 2024. To read the full report, click here.

    Unlimited’s Barometer uses machine learning and multiple data sources to track performance for the major hedge fund strategies. It also provides a near real-time view into how hedge funds are positioned across major asset classes, industry sectors and geographies.

    Unlike Q2 where equity long/short funds outperformed other hedge fund strategies, emerging markets managers had the strongest performance in Q3 and long/short equity and event driven managers rode through the summer turmoil to deliver positive returns. Hedge funds generally have also reduced their exposure to Japanese equities, which performed strongly in Q1.

    “One of the more acute market moves in the quarter came in onshore and offshore Chinese equities,” said Bob Elliott, CEO and CIO of Unlimited. “While managers appear to have trimmed underweights from earlier in the year, as those stocks sold off, their position remained more neutral despite the recent market action.”

    Unlimited Hedge Fund Barometer Q3 2024 Findings

    Despite a turbulent August, long/short equity managers continue to hold roughly normal levels of overall equity exposure while continuing their rotation toward large cap growth stocks and away from small and mid-caps. Fixed income managers have started to trim their near peak exposure to corporate spreads after their approach of levering up into secularly low spreads backfired in August as spreads rose. Other highlights include:

    • Average gross returns across strategies were just below +3.5%
    • The best performing fund style was Emerging Markets equity at +5%
    • The worst performing fund style was Managed Futures at -1.2%

    As we enter the last quarter of 2024, Unlimited’s Barometer also shows hedge funds:

    • Were modestly overweight equities – specifically growth stocks – following a period of being underweight stocks in ‘22-’23. They also remained underweight small and mid-cap stocks.
    • Were roughly neutral on the U.S. dollar relative to other currencies, as Fed policy has shifted to a more dovish stance over the last several months. On the British pound, short positions were closed in recent months. They were modestly long the yen.
    • Remained relatively neutral bonds, weighing the risks between reacceleration and recession. Earlier in the quarter Fixed Income managers held near historical peak levels while spread levels approached all-time lows, a strategy that backfired in August. Subsequently, managers appear to have reduced risks in credit spreads.
    • Have reduced positions in energy commodities as prices have fallen. Positions in other growth-oriented commodities like metals have remained roughly neutral in recent months.

    Click here to view a video on how Unlimited’s technology works.

    About Unlimited
    Founded in 2022 by Bob Elliott, Bruce McNevin and Matt Salzberg, Unlimited is an investment firm using proprietary technology to create strategies that offer lower-cost access to 2 & 20 style alternative investment strategies, such as hedge funds, to a wide variety of investors. Mr. Elliott has built innovative hedge fund strategies for more than two decades, including at Bridgewater Associates, the world’s largest hedge fund. Mr. McNevin is a Professor of Economics at New York University and has held various data science positions at hedge funds Clinton Group and Midway Group, along with positions at Bank of America and BlackRock. Mr. Salzberg serves as a Managing Partner at Material and Board Director of Unlimited. Learn more at unlimitedfunds.com.

    Media Contacts:

    Sarah Lazarus Zach Kouwe
    Dukas Linden Public Relations Dukas Linden Public Relations
    +1 617-335-7823 +1 551-655-4032
    sarah@dlpr.com zkouwe@dlpr.com
       

    For informational and educational purposes only and should not be construed as investment advice. The data shown herein represents past performance and should not be construed as providing any assurance or guarantee as to returns that may be realized in the future. No representation is being made that any investment will or is likely to achieve profits or losses similar to those shown herein. No investment strategy or risk management technique can guarantee return or eliminate risk in any market environment.

    The MIL Network –

    January 23, 2025
  • MIL-OSI: PLUMAS BANCORP DECLARES QUARTERLY CASH DIVIDEND

    Source: GlobeNewswire (MIL-OSI)

    RENO, Nev., Oct. 17, 2024 (GLOBE NEWSWIRE) — Plumas Bancorp (Nasdaq:PLBC), the parent company of Plumas Bank (the “Bank”), today announced that the Board of Directors declared a regular quarterly cash dividend on Plumas Bancorp common stock of $0.27 per share, payable November 15, 2024, to stockholders of record as of November 1, 2024.

    About Plumas Bancorp

    Plumas Bank is a subsidiary of Plumas Bancorp (NASDAQ: PLBC), a bank holding company headquartered in Reno, Nevada. Plumas Bank is a locally managed, award-winning community bank founded in 1980 and headquartered in Quincy, California. With 15 branch offices in Northeastern California and Northern Nevada, and loan production offices in California and southern Oregon, Plumas Bank is one of the top performing community banks in the country. For more information regarding Plumas Bancorp and Plumas Bank, visitplumasbank.com.

    Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve the risks and uncertainties, including the timely availability and acceptance of Bank products, the impact of competitive products and pricing, the management of growth, and other risks detailed from time to time in the Bank’s publicly available regulatory reports.

    The MIL Network –

    January 23, 2025
  • MIL-OSI USA: Gov. Kemp Announces 107 Appointments to Boards, Authorities, and Commissions

    Source: US State of Georgia

    For Immediate Release

    Friday, October 11, 2024

    Gov. Kemp Announces 107 Appointments to Boards, Authorities, and Commissions

    Atlanta, GA – Today, Governor Brian P. Kemp announced 107 appointments and reappointments to various state boards, authorities, and commissions.

     

    Georgia Maternal and Infant Health Advisory Commission 

    Keisha Callins is an accomplished obstetrician-gynecologist and public health expert with extensive experience in clinical practice, academic leadership, research, and community service. She holds a Doctor of Medicine from Morehouse School of Medicine and a Master of Public Health from the University of Alabama. Currently, she serves as an OB-GYN at Community Health Care Systems in Georgia and holds multiple faculty appointments, including a professorship at Mercer University School of Medicine. Callins has held various leadership roles, including serving as the Chair of the National Advisory Council on the National Health Service Corps. Callins has received numerous awards and recognitions for her contributions, including the 2024 Ruth Hartley Mosely “Pioneer of Community Advancement” Award and the 2024 Macon Volunteer Clinic Healthcare Hero award. She is actively involved in various professional organizations and community initiatives, advocating for maternal and women’s health, rural healthcare, and medical education. Additionally, she has published various research articles and contributed to discussions on healthcare policies, particularly in underserved communities.

    Amanda “Shea” Evans is a board-certified neonatologist. She is a partner in Marietta Neonatology and currently serves as the Wellstar Health System Medical Director of Neonatal Intensive Care Services and the medical director of the Level 3 Neonatal Intensive Care Unit at Wellstar Kennestone Regional Hospital. Evans completed her medical degree at Mercer University School of Medicine and went on to complete her residency in Pediatrics and Fellowship in Neonatal-Perinatal Medicine at Emory University School of Medicine. Throughout her career, Evans has been dedicated to advancing the care of high-risk infants in community-based hospitals. In addition to her clinical work, Evans is actively involved in hospital committees and initiatives. Evans has received several accolades, including the March of Dimes Heroes in Action Award. She is a proud member of the American Academy of Pediatrics and is committed to the advancement of neonatal care.

    Shannon Mayfield is a nurse midwife at Advanced Women’s Care Center, where she provides comprehensive care to women across various socioeconomic backgrounds. She specializes in cost-effective, patient-centered care; emphasizes education on maternal health; and collaborates with perinatology for high-risk cases. Mayfield received her education from Gordon State College, Clayton State College and University, and Frontier Nursing Academy. Previously, she worked as a Registered Nurse at Piedmont Henry. Her earlier roles include serving as a Certified Nurse Midwife at New Beginnings Comprehensive Women’s Healthcare and Life Cycle OB/GYN.

    Monica Newton began her education at Auburn University studying pre-med psychology followed by medical school at Midwestern University in Chicago. While in Family Medicine residency at the University of Alabama at Birmingham, she obtained a Master of Public Health in International Health. After residency, she began teaching at UAB-Selma Family Medicine Residency Program while completing a fellowship in obstetrics. Recognizing the overwhelming needs in her community, she completed a faculty fellowship in underserved medicine through the University of California-San Diego. Moved to action, she started a free clinic called “Family Doc in a Bus” with grant funding from the Alabama Department of Public Health and FEMA. She was elected by the community to serve on the Selma City Council and the Alabama Academy of Family Physicians as a regional vice president. After serving 11 years as an associate professor of family medicine, Newton moved with her family to Gainesville, Georgia, and joined the Northeast Georgia Physicians Group. To meet the current challenges in health care, Newton completed a master’s in population health from Thomas Jefferson University in 2016.

    Marlo Vernon is an associate professor at the Georgia Prevention Institute, with an appointment in the Department of Obstetrics and Gynecology at the Medical College of Georgia, Augusta University, and memberships with the Georgia Cancer Center, the Institute for Public and Preventive Health, and the Georgia Prevention Institute. She is the Principal Investigator and developer of VidaRPM – a remote self-monitoring application for blood pressure and mental health. Additionally, Vernon is the Project Director of Mothers Informed Lactation Knowledge and Support (MILKS) and the Co-Project Director for Access to Services for Pregnant and Postpartum Persons in Northeast Georgia (ASPiriNG).

    Padmashree “Champa” Woodham is a professor in the Division of Maternal-Fetal Medicine, MFM Fellowship Program Director at the Medical College of Georgia, and Director of the Regional Perinatal Center at Wellstar MCG Health. She received her bachelor’s degree from Emory University in 2001. She attended Emory University School of Medicine to complete her MD and remained at Emory to finish her Internship and Residency in the Department of Obstetrics and Gynecology in 2009. Woodham went on to complete a fellowship in Maternal-Fetal Medicine at the University of North Carolina at Chapel Hill. She is board-certified in Obstetrics and Gynecology and Maternal-Fetal Medicine. Woodham joined the faculty of Mercer School of Medicine at the Medical Center Atrium Health Navicent in Macon as the Director of Maternal-Fetal Medicine in August 2012, where she spent the first 10 years of her career. During that time, Woodham served numerous leadership roles, including Director of the Regional Perinatal Center, Chair of the Finance Council, and Vice Chair of the Atrium Health Navicent Leadership Council. Among her various honors and achievements, she received the ACOG/CREOG National Faculty Award. Woodham was the 2022-2023 President of the Georgia OBGYN Society. She provides high-risk obstetric care to patients with a range of complex maternal and fetal conditions. Her research involves predictive markers for preeclampsia and techniques to better predict growth restriction on fetal ultrasound.

     

     

    Georgia Motor Vehicle Crime Prevention Advisory Board 

    Woodrow W. Blue, Jr is the Chief of Police for the City of Forsyth. He has over 44 years of law enforcement experience and over 40 years as a Chief of Police. Blue began his career in law enforcement with the Hahira Police Department, where he was appointed Chief of Police at the age of 26. In September of 2000, he accepted the position of Deputy Police Chief of the City of Milledgeville and, in 2002, he was appointed Police Chief. He has also served as Chief of Police for the City of Eastpoint and for the City of Donaldsonville. Blue graduated from Valdosta State University with a bachelor’s degree in criminal justice and earned a master’s degree in public administration from Columbus State University. He is a 2003 graduate of the Georgia Command College, Class 8, and a 2004 graduate of the Georgia International Law Enforcement Exchange Program. Blue has served as president of the Georgia Association of Chiefs of Police, is a former member of the Board of Private Detectives and Security Agencies, and has served on the Peace Officer Standard and Training Board as the Georgia Association Chief of Police representative. Blue and his wife, Elese, have two kids and three grandchildren.  

    Derick Corbett is the senior vice president of external affairs at Pull-A-Part, where he oversees all government and regulatory affairs, compliance, and community relations work for Pull-A-Part’s 37 facilities in the 16 states it serves. Upon graduating from the University of Georgia with degrees in political science and economics, Corbett began what would become a 20 year career in public service. Corbett served with Congressman John Linder from October 2000 to December 2010, holding various positions on his Congressional staff and campaign staff, including communications director, deputy chief of staff, and chief of staff. In 2010, he served as campaign manager for Rob Woodall and went on to become Congressman Woodall’s chief of staff and campaign manager until 2020. He currently serves as a board member for the Georgia Recycling Association, the State Recycling Association of Alabama, and the Recycling Association of North Carolina. Corbett also serves as Chairman of the Automotive Recycling Committee for the Institute of Scrap Recycling Industries, the largest international recycling trade association in the world. Corbett is a member of the Georgia Chamber of Commerce and serves on the Energy and Natural Resources and Government Affairs Committees.

    John “Herb” Cranford, Jr. is the District Attorney for the Coweta Judicial Circuit, comprised of Carroll, Coweta, Heard, Meriwether, and Troup Counties. Cranford was born and raised in Coweta County and is a third generation prosecutor. He obtained a Bachelor of Arts in Religion from the University of Georgia and a Juris Doctor from Mercer University’s Walter F. George School of Law. During law school, Cranford worked as a judicial clerk for the Honorable W. Homer Drake, Jr. of the United States Bankruptcy Court for the Northern District of Georgia and then as an intern for the Coweta Circuit District Attorney’s Office. Upon graduating law school, he was hired as an Assistant District Attorney in the same office, working in Carroll County and Coweta County. In February 2018, Governor Nathan Deal appointed him as District Attorney to fill the remainder of his predecessor’s term and he has since been re-elected twice. Cranford has received recognition for his focus on prosecuting criminal street gangs, including obtaining the first guilty verdict in a gang trial in the Coweta Judicial Circuit. In 2021, he was appointed by the Supreme Court of Georgia to serve on the State Bar’s Disciplinary Board and he was elected by his fellow Georgia District Attorneys to serve as Treasurer for the District Attorneys’ Association of Georgia and the Georgia representative to the National District Attorneys Association.

    Harshida Davis is the group risk manager-Atlanta for Enterprise Holdings Inc., which does business as Enterprise Rent-A-Car, Alamo Rent-A-Car, National Car Rental, Enterprise Car Sales, Enterprise Truck Rental, and Commute with Enterprise. In her role, she oversees the Risk Management Department. After earning her bachelor’s degree from the State University of New York at Geneseo with a major in sociology and psychology, she started with Enterprise in 2001 as a rental management trainee and was promoted to the risk management department in 2002. Before joining the Atlanta group in 2019, Davis managed risk programs for Enterprise Truck Rental in North Carolina; Enterprise on the southside of Chicago and northwest Indiana; Enterprise, Alamo, and National at O’Hare and Midway; and all divisions in southwest Florida. In addition to her day-to-day responsibilities, Davis is also a member of the Georgia Auto Theft Intelligence Council and most recently spearheaded the addition of the Top Investigator of the Year-Crimes against property and Top Investigator of the Year-Crimes against persons awards at the annual ASIS Law Enforcement Appreciation Day. Dedicated to her community, Davis has sat on the board of the Literacy Council of the Gulf Coast and was a leader on the Go Red for Women Committee for the American Heart Association – Gulf Coast. Davis and her husband, Jon, have two children and reside in Atlanta.  

    Scott Goss is a senior manager of Geico’s Special Investigation Unit. He attended Georgia State University and studied criminal justice. Later, he attended Reinhardt College and studied business administration. He lives in Carnesville with his wife and family.

    Stacey Ellis Hodges takes an active role in Jim Ellis Automotive. Hodges has been working in the dealership in a full-time capacity since graduating with a bachelor’s in marketing from Georgia Southern University in 1999. Initially, her summer jobs involved administrative positions from accounting to cashiering. Once she returned from college in Statesboro, her full-time career began as a service advisor for the Audi and Porsche brands. Hodges soon moved into Audi sales, then transitioned into management. She has been a general manager for Saab, Mazda, and Maserati brands at Jim Ellis, becoming a vice president of Audi Atlanta in 2015. Today, Ellis oversees the automotive group’s directors, keeping her close to the operations as a whole and up to date on technologies and processes for the dealership group. She also serves as a corporate officer over the Company’s associated business entities. Hodges and her husband, Greg, reside in Cumming. She is actively involved in her children’s schools, recreational activities, their local church, and various charities.

    Chip Koplin has over 35 years of experience in the scrap recycling and used auto parts industries. He is the government and public affairs manager for the southeast region of Radius Recycling (formerly Schnitzer Steel Industries), focusing on metals recycling, steel manufacturing, and auto parts recovery. Previously, he served as Vice President of External Affairs at Pull-A-Part, LLC and worked for 23 years at Macon Iron & Paper Stock, a multi-generation family business before its sale to Schnitzer Steel Industries. Koplin has also co-owned General Steel Company and Commercial Doors and Associates. He is deeply involved in trade associations, including the Institute of Scrap Recycling Industries, where he serves as chair of the Material Theft Subcommittee and has held various leadership roles. Koplin is also a past president and founding board member of the Georgia Recyclers Association. His extensive board involvement includes the Georgia Chamber of Commerce, Stonecrest Industrial Council, and various other organizations. He is a 2009 Graduate of Leadership Georgia, a 2012 program chair, and a member of the Georgia Professional Lobbyists Association. Koplin attended Georgia State University where he earned a bachelor’s degree in real estate.  He and his two children reside in Atlanta.  

    Josh Lamb serves as the director of administrative services of the Department of Public Safety. In his role, he oversees the Office of Professional Standards, the Human Resources Division, the Public Information Office, and Legislative Affairs. Previously, he served as the chief of staff. Lamb began his law enforcement career as a Special Agent with the Tri-Circuit Drug Task Force in 1996. In 1999, he joined the Georgia State Patrol after he graduated from the 74th Georgia State Patrol Trooper School. Throughout his career, he has served as Corporal at Post 11 – Hinesville; Sergeant in Post 45 – Statesboro; and Sergeant First Class at Post 45, Post 16 – Helena and Post 18 – Reidsville. Lamb also spent eight years as a member of the State of Georgia SWAT team.  He served as lieutenant in the Planning and Research Unit where he created departmental policy, assisted in planning special events such as the 2018 National College Championship Game and Super Bowl LIII, and worked on legislative affairs such as the distracted driving law. Lamb has been the Director of Training, SWAT Team Commander, Executive Officer to the Deputy Commissioner, and Chief of Staff. Lamb holds a bachelor’s degree in justice studies from Georgia Southern University and a master’s degree in public administration from Columbus State University. He also attended the 259th Session of the FBI National Academy. Lt. Colonel Lamb and his wife, Alison, have two daughters.

    Scott Poole earned his Bachelor of Arts in Political Science from Berry College in 1994 before attending Georgia State University College of Law. While in law school, he completed internships with Superior Court Judge Stanley Gault and Fulton Senior Superior Court Judge William Daniel. After graduating, Scott served as an Assistant District Attorney in Cherokee County from 1997 to 2008, handling a range of cases from theft to murder and successfully prosecuting the county’s first racketeering case under the Georgia RICO statute. In 2008, he joined the Appalachian Judicial Circuit as Senior Assistant District Attorney in Pickens County, managing the office and focusing on severe cases like violent offenses and drug trafficking. Scott built a reputation as an effective litigator and teacher, instructing drug prosecutors through the Prosecuting Attorney’s Council of Georgia and being certified by the Georgia Peace Officer Standards and Training Council. In January 2013, he transitioned to private practice, co-founding Grisham & Poole, P.C. Recognized as a Super Lawyer since 2021, he was appointed Municipal Court Judge for the City of Ball Ground in 2022. He and his wife, Jennifer, have one daughter and reside in Ball Ground.

    Rick Redd has been employed with the National Insurance Crime Bureau (NCIB) as a special agent since 2018, where he covers the State of Georgia. Prior to working for the NICB, Redd retired as Detective Sergeant of the Marietta Police Department after 30 years of service, mostly spent in the Investigative Services Division. He is currently the president of the Georgia Auto Theft Intelligence Council, past president of the International Association of Auto Theft Investigators (southeast chapter), and a board member of the International Association of Special Investigation Units. Redd resides with his wife of 40 years in Canton.

    Matthew Rollins serves on the Superior Court of the Paulding Judicial Circuit, appointed by Governor Kemp in March 2024. He previously served as the District Attorney of the Paulding Judicial Circuit and as an Assistant District Attorney in the same office. Rollins served four years on active duty in the United States Marine Corps. After receiving an Honorable Discharge, he attended Kennesaw State University, where he received his bachelor’s in political science, and Mercer Law School, where he received his J.D. An active member of his community, Rollins is a member of the Dallas Lodge, the Paulding Rotary Club, and the Paulding Bar Association. Rollins and his wife, Minna, have one child and live in Acworth

    Lori Silverman attended Tulane University in New Orleans LA where she majored in Spanish. Upon graduating from Tulane, Silverman received her J.D.  from Emory University. After graduating from Emory, she began working for the Fulton County Public Defender. She then worked in private practice for many years. Silverman volunteered with the Consumer Action Center for five years before becoming the director in 2013.

    Lenn Wood is the Sheriff of Coweta County. He has dedicated over 40 years to law enforcement, starting with the Newnan Police Department before joining the Coweta County Sheriff’s Office. His extensive career includes roles in Patrol, Investigations, School Resource, Training, Jail, and Court Services. His transparency initiatives include working with international broadcast projects like Investigative ID and “On Patrol Live” to build trust with the community. He has also led efforts against human trafficking, improving victim recognition and collaborating with state and federal agencies. His emphasis on comprehensive training—requiring officers to complete at least forty hours of continuing education annually—demonstrates his dedication to maintaining high-performance standards.

     

    State Board of Occupational Therapy 

    Betsy McDaniel is the Chair of the Department of Rehabilitation Science and Fitness at Middle Georgia State University. McDaniel holds a master’s degree in health & human performance from Georgia College and State University, along with dual associate degrees and a bachelor’s degree from Middle Georgia State University. At Middle Georgia State University, she has served as Occupational Therapy Assistant (OTA) Program Director and Academic Fieldwork Coordinator, where she has been instrumental in overseeing curriculum development, faculty management, and maintaining program accreditation. McDaniel has developed and enhanced various OTA courses. She is actively involved in university committees and professional associations, including the American Occupational Therapy Association and the Georgia Occupational Therapy Association. Additionally, McDaniel maintains her clinical skills as a PRN Certified Occupational Therapy Assistant at Southwest Georgia Rehab.

     

    State Workforce Development Board 

    Lindsay Hill serves as the senior vice president of human resources at Georgia Power, where she spearheads initiatives in talent management; diversity, equity and inclusion; labor relations; safety; facilities; and HR delivery. Hill is a member of Georgia Power’s Management Council. Since joining Georgia Power in 2001, she has served as vice president of human resources at Southern Company Gas and HR director at Georgia Power. In addition to her professional responsibilities, Hill is active in the community. She is the president and CEO of the board for Bright Generations Childcare Centers and serves on the boards of the Atlanta Women’s Foundation and the Atlanta Ballet. Hill earned a bachelor’s degree in business administration with a focus on marketing from Valdosta State University and a master’s degree in organizational leadership from Troy University. She was named a 2023 Valdosta State University Distinguished Alumni recipient, and she is a 2024 participant in Leadership Georgia.

    Amy Jordon is the chief nursing officer currently overseeing Advent Health Redmond and the southeast region. In this role, Jordon manages care integration, performance improvement, and nursing education while collaborating on regional and system-wide initiatives. She is focused on clinical workforce planning and academic partnerships to enhance the clinician pipeline and improve care delivery across the network. Since 2005, she has held CNO roles at Advent Health Gordon and Advent Health Murray, showcasing a deep expertise in nursing leadership and patient care. She earned her bachelor’s and master’s in nursing from the University of West Georgia.

     

    State Licensing Board for Residential and General Contractors 

    Omar Ali was reappointed.

     

    State Commission on Family Violence 

    Michael Moore is the Madison County Sheriff. Moore began his law enforcement career at the Clarke County Jail. In 2003, he graduated from the Northeast Georgia Police Academy as a certified peace officer and began as a deputy sheriff with the Madison County Sheriff’s Office until he was elected sheriff in 2016. Moore has earned more than 1400 total law enforcement training hours throughout his career. He became a member of the Neese Sanford Volunteer Fire Department at age 18 and then transferred to the Colbert Volunteer Fire Department where he worked to the rank of Captain. Moore is a member of the Madison County Rotary Club and the Madison County Board of Education Governance Committee for Madison County Middle School. A Madison County business owner, Moore owned and operated Moore’s Trucking and Moore Tire in Colbert.  He and his wife, Toni, reside in Colbert and have four children.

     

    Board of Directors of the Georgia Emergency Communications Authority 

    Sam Couvillon is the Mayor of Gainesville, Georgia and a partner with Norton Insurance. At Norton, he is the area president of the Benefits Department. Couvillon began his insurance career in 2002 with New England Financial as both a financial planner and employee benefits agent.  Holding true to the values of Norton, he is very involved in the community. In addition to serving as mayor, Couvillon serves on numerous boards in the community. He previously served on the city council serving Ward 1 from 2014-2021. Couvillon received his bachelor’s degree in communication from the University of Georgia. He and his wife, Margie, have two children.  

    Michael Persley is the Chief of Police for the City of Albany. He was promoted to Chief on May 23, 2015. Persley has been employed with the Albany Police Department for 30 years and has held numerous positions within the department. He was previously the gang unit commander, east district police commander, and assistant commander of the Albany-Dougherty Metro SWAT Team where he has served as an entry team member, assistant team leader, team leader, and negotiations commander. His other assignments have included working in narcotics, general, and gang investigations. Persley has a master’s degree in administration/justice and security from the University of Phoenix, and a bachelor’s degree in criminal justice from Troy University. Persley has over 2800 hours of basic and advanced police training. He is a graduate of the IACP Leadership in Police Organization and the Northwestern School of Police Staff and Command. Persely is a member of the Georgia Association Chiefs of Police, where he serves as a district representative, and the International Association of Chiefs of Police, where he serves on the board of directors. He serves on several community boards and committees, including Stop the Violence and the Dougherty County Rotary Club. Persley is retired from the Georgia Army National Guard after serving for over 22 years. He served on deployments to Bosnia-Herzegovina, Iraq, and Afghanistan.

    Mikki Quinones serves as the division commander for Houston County E-911, with a distinguished career spanning over three decades in public safety communications. She began her career in 1991 as one of the first civilian personnel at Houston County E-911 and, by 1994, she had advanced to shift supervisor. In 2000, Quinones became the 911 operations coordinator, where she spearheaded the implementation of a countywide CAD system and an 800MHz radio system. Quinones is a certified peace officer and has led multi-million-dollar projects, including the redesign of the 911 center and the upgrade of the 800MHz system. She was instrumental in achieving CALEA accreditation for Houston County E-911, which has since earned four reaccreditations. In 2021, she was promoted to captain and completed NENA’s Center Manager Certification Program and the Georgia 911 Director’s Academy. She is a certified instructor with Peace Officer Standards and Training and also serves as an emergency medical dispatch instructor. Beyond her professional work, she is a member of the Houston County Department of Family and Children Services Board. She and her husband, Manny, have three children and two grandchildren.

     

    State Rehabilitation Council 

    Juliet Hardeman, Jerry Haywood, Kathryn Hearn, and Joy Norman were reappointed.

     

    Georgia Driver’s Education Commission 

    Andrea Daniel currently serves as the president of Athens Technical College. She has served the College for over 27 years. Daniel began her career working in the office of Senator Sam Nunn and supported the work of the Armed Services Committee. She went on to work as a senior planning analyst for the Atlanta Regional Commission on projects such as the Outer Loop Study, Vision 2020 Education Stakeholder Committee, planning and zoning studies, and Olympic Transportation Planning. Daniel has completed the Executive Leadership Academy of the Technical College System of Georgia and she is a graduate of L.E.A.D. Athens Class of 2008. She has also completed the Georgia Tech Annual Basic Economic Development Course, and the Georgia Regional Academy for Economic Development Essentials of Economic Development course. In January 2020, Daniel was elected and nominated by a group of her peers to serve on the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC) Board of Trustees. For her efforts in demonstrating excellence, creativity and success in business and furthering the goals or other professional women, Daniel was presented the Athena Award in February 2020. In November 2020, she received the Elbert County Native Citizen Award during the annual meeting of the Elbert County Chamber of Commerce. Daniel has a bachelor’s degree in political science from Lander University, a master’s degree in public administration from the University of Georgia, and a PhD in business administration specializing in organizational leadership from Northcentral University. She and her husband, Sterling, have one daughter.

     

    Sexual Offender Risk Review Board 

    Mindy Ackerman, Jerry Bruce, J. Robert Frederick, Katie Gropper, James Morton and Bert Reeves were reappointed. 

    Elizabeth Bigham has been a special agent with the Georgia Bureau of Investigation for 17 years. Currently, she works in GBI’s Office of Special Investigations in the Cold Case Unit. For most of her career with the GBI, she was assigned to the Child Exploitation and Computer Crimes Unit (CEACC), conducting over 600 criminal investigations involving child exploitation. Bigham received a bachelor’s in criminology from Florida State University and has used her degree to instruct others at conferences in Georgia and around the world. Bingham has also provided expert testimony to General Assembly study committees and Georgia state courts.

    Meghan Thurmond serves as a victim advocate at the Paulding County District Attorney’s Office. In this role, she has supported victims and witnesses, managed crime victim compensation referrals, and worked towards becoming a nationally certified advocate. She is passionate about advocating on behalf of victims, especially those unable to voice their needs. She began her career in 2007 at the Cobb County Solicitor General’s Office as a traffic secretary, where she supported staff in a 100 person office to ensure traffic compliance. In 2017, she became a judicial administrative assistant at the Cobb County District Attorney’s Office, providing her with extensive experience in case management and fostering professional relationships.

     

    Georgia Council on Developmental Disabilities 

    Wesley Ford, Lisa Newbern, and Sharia Stripling were reappointed.

    Jessica Cowell is from Columbus, Georgia. She earned her G.E.D. after attending Central High School. She went to Columbus State University to study theatre.

    Dayna Holbel is an educational consultant and member of the Education Transition Team at the Emory Autism Center. In her role, she works closely with students, parents, and school personnel to support successful post-secondary outcomes for autistic students through the Individual Transition to Adulthood (ITAP) project. Holbel received her bachelor’s in English and history from the University of Michigan, and her master’s degree in education in transition specialist and special education from Wayne State University. She also has experience working in Fulton County Schools as a transition services teacher and currently operates a tutoring company called Wonder Tree Tutoring.

    Tais Keyser is a stay-at-home mom and advocate for disability rights and awareness. Two of her children are differently abled. She has worked with Unlock GA, a broad-based coalition whose mission is to expand and enhance home and community-based services to support Georgians with developmental disabilities.

    Brook Kubik is a part-time instructor at the University of North Georgia, teaching primarily chemistry, biology, and environmental science to undergraduate students through the online eCore platform.  Previously, she was an analytical research chemist at the Centers for Disease Control and Prevention (CDC) in Atlanta. She holds a bachelor’s degree in biology from the University of West Georgia, a master’s in chemistry and a C.P.H. in Epidemiology from Georgia State University, and an Ed.S. in Curriculum and Instruction from Lincoln Memorial University. Kubik is a mother of five children ages 18 and under, three of whom are differently abled. After having children with various intellectual, developmental, and physical disabilities, and experiencing first-hand the lack of services and needs that we have in our communities, her passion has turned to providing support and education to disability families within her community and state.  Currently, Kubik is a parent advisory board member at the Marcus Autism Center and works with Georgia Swimming LSC/USA Swimming to bring inclusive competitive and learning opportunities to athletes of all abilities across the State of Georgia.

    Crystal St. Pierre-Stackpole is a dedicated special education teacher and community volunteer in Lafayette, Georgia. St. Pierre-Stackpole is committed to serving her local community, particularly those with special needs. Her career spans a variety of roles in education, including teaching nature-based pre-K, middle school resource classes, and high school vocational instruction. Currently, she works with elementary students with autism. Before she began teaching, St. Pierre-Stackpole worked in Chattanooga, Tennessee with local nonprofits as a volunteer coordinator, event planner, and outdoor educator. She has also worked as a CNA and home health worker while pursuing her education at Dalton State College. Inspired by her personal experiences supporting her brother, who has Down syndrome, she passionately advocates for families navigating special education and state services. St. Pierre-Stackpole actively participates in advocacy events, helping families understand their rights and connect with necessary resources. Her commitment to service and advocacy reflects her belief in the power of every individual’s voice and the need for collective advocacy.

    Jennifer Snyder is an outreach and advocacy coordinator for Living Independence for Everyone (LIFE ). In her role, she works to help people with significant disabilities transition from nursing homes and other institutions to home and community-based residences. She resides in Chatham County.

    Leslie Kate Thornton advocates for the human and civil rights of all people and equality for people with disabilities, especially in employment. She has spent several years working as a social media content developer. Thornton is passionate about community engagement and empowering individuals to make a positive impact. She resides in St. Mary’s, Georgia. 

    Dave Ward is the president & CEO of Tommy Nobis Center, bringing over 30 years of nonprofit experience. He previously served as executive vice president at the Wounded Warrior Project, executive director at Big Brothers Big Sisters, and regional director at Make-A-Wish Foundation. He also held a role at Best Buddies International and was a licensed psychotherapist. Ward is a Leadership Atlanta Class of 2020 graduate and a Governor-appointed member of the Georgia Employment First Council. He served as president of the Georgia Association of Training, Employment and Supports (GATES) from 2019-2023 and was nominated for the Turknett Leadership Group’s 2018 Leadership Character Award. He holds a bachelor’s in sociology and criminal justice and a master’s in rehabilitation counseling. Ward resides in Kennesaw with his family.

     

    State Water Well Standards Advisory Council 

    Clayton Wayne McKinnon, Sr. was reappointed.

     

    Board of Human Services

    Douglas Aldridge, Jr., David Barbee, Monica Walters, and Rochard White were reappointed.

     

    Board of Control for Southern Regional Education

    Greg Dozier and Matthew Dubnik were reappointed.

     

    Board of Early Care and Learning 

    Kristin Morrissey and Cristina Washell were reappointed.

    Kristy Beam will now serve as the Fourth Congressional District Representative.

    Jennifer Bennecke will now serve as the Sixth Congressional District Representative.

    Karla Zisook will now serve as the Fifth Congressional District Representative.

    Maria Franklin is a board-certified behavior analyst with a strong educational background and work experience in behavior analysis and support. She earned a graduate certificate in behavior analysis from Florida Institute of Technology in May 2023 and holds a master’s in applied psychology (developmental psychology) and a bachelor’s in psychology from Liberty University. Currently, Franklin works as a board-certified behavior analyst at North Georgia Autism Center, where she develops individualized therapeutic plans and conducts initial client assessments. Her previous roles include registered behavior technician at the same center providing one-on-one ABA therapy and various positions such as behavior support clinician and field trip coordinator. Franklin also served as a motor transport operator in the U.S. Army Reserve.

    Joyce Freeman is the early childhood care and education program chair and a full-time ECCE instructor at West Georgia Technical College(WGTC). In 2016, Freeman began her career at WGTC as an early childhood care and education adjunct instructor. Previously, she was a lead teacher, trainer, and supervisor at Western Arkansas Child Development and served as a lead teacher and assistant director at Early Head Start Child and Family Services. Freeman holds a Master of Arts in teaching early childhood from Arkansas Tech University, a Bachelor of Arts in organizational leadership from the University of Arkansas Fort Smith, and an Associate of Arts in early childhood education from Carl Albert University. Some of her notable accomplishments include serving on a workgroup writing team to revise the workforce knowledge competencies for program administrators and education leaders, implementing the federal work-study program at WGTC, and serving as a certified trainer in first aid/CPR and child protection. She is an active member of the Southern Early Childhood Association.

    Karen Jones has been an educator for 27 years and is currently employed with Houston County School District as a program specialist. A graduate of Georgia Southern University, she holds advanced degrees from Valdosta State University and Columbus State University. She has worked as a preschool teacher, elementary school teacher, and district-level administrator. She worked in New York, Germany, South Carolina, and Nebraska before arriving back home in Georgia. She has a wealth of knowledge in the field of early childhood education, special education, educational leadership, and curriculum. Jones has served as a member on the Middle Georgia Community Action Agency (MGCCA) Health Advisory team, Middle Georgia RESA Preschool Consortium Lead, and an instructor for MGRESA Dyslexia Endorsement Cohort. She is passionate about improving the outcomes of young children and supporting their families with early intervention resources.

    Sylvia Washington is a pediatrician with a background in clinical practice, academia, and community service. Board-certified in general pediatrics since 2011, she completed her Pediatric Residency at Mercer University Medical Center in 2010 and holds a Doctor of Medicine from New Jersey Medical School.  Washington graduated summa cum laude with a bachelor’s degree in biology from Howard University. She has served as a general pediatrician at Atrium Health Floyd Pediatrics since 2013, where she also chaired the Department of Pediatrics and directed the Reach Out and Read Program. Her previous roles include similar positions at East Albany Pediatric and Adolescent Center. Washington contributes to medical education as a preceptor for various institutions and has been involved in significant publications and research. Active in community service, she holds leadership roles with the Georgia Chapter of the American Academy of Pediatrics and engages in medical missions and youth outreach programs.

     

    State Board of Examiners for Speech Pathology and Audiology 

    Douglas Mattox was reappointed.

     

    Council on American Indian Concerns 

    Heidi Altman, Paul Brannen, Nealie McCormick, and Royce McCrary were reappointed.

    Maureen Meyers is a senior archaeologist with New South Associates, Inc. in Stone Mountain. She is an expert on pre-contact Native Americans of the southeast and has researched extensively on Native American settlement, households, ceramics, and fiber production. She is also an expert on archaeological field safety, sexual harassment and assault, and disability in archaeology. She received her bachelor’s from Radford University in Virginia, her master’s from the University of Georgia, and a Ph. D from the University of Kentucky. Meyers has over two dozen publications, many focused on her work on Mississippian period Native American mound sites in southwestern Virginia and north Georgia. She is the past president of the Southeastern Archaeological Conference, where she created partnerships with public outreach groups, scholarships for tribal and HBCU students, instituted organizational policy for addressing sexual harassment, and helped create and pass an image policy regarding Native American burial remains and associated objects.  

    Frank Williams is a full professor with tenure at Georgia State University, specializing in biological anthropology. He received his bachelor’s from the University of Florida and his master’s and Ph.D. from the University of Massachusetts, Amherst. Prior to coming to Georgia State University, he was a postdoctoral research assistant at Pennsylvania State University. Williams teaches courses in forensic anthropology, human paleontology, human osteology, statistical methods, and primate behavioral ecology. In 2020, he was the recipient of the University Faculty Award for Undergraduate Mentored Research in Policy, Entrepreneurship, Education, and Social Sciences. Williams has published extensively on reconstructing Neandertal diets using dental microwear, vertebral osteoarthritis, paleopathology, fossil primates, and dental morphology. He has received two U.S. Fulbright awards, a Fulbright Specialist Award to the University of Calgary, Canada (2014), and a Fulbright Core Scholars Award to the Royal Museum of Central Africa, Belgium (2016). He has previously served as director of undergraduate studies, department chair of anthropology, NAGRA coordinator, and faculty associate for tenure-track faculty development and review for the College of Arts and Sciences at Georgia State University.

     

    Georgia Real Estate Commission 

    Edward Lee Dollar was reappointed.

     

    Georgia Board of Dentistry 

    Glenn Maron was reappointed.

     

    Georgia Joint Defense Commission 

    Henry Childs, John L. Eunice, III, Peter Jones, and Al Konetzni were reappointed.

     

    Behavioral Health Reform and Innovation Commission 

    Kevin Tanner was reappointed as chairman.

    Karen Bailey, Jason Downey, Nora Haynes, Miriam Shook, Sarah Vinson, DeJuan White, and Michael Yochelson were reappointed.

    Melanie Dallas is the CEO of Highland Rivers Behavioral Health and a licensed professional counselor with 35 years of experience in behavioral health. Throughout her career she has held roles in crisis stabilization, mobile crisis assessment, and in-home care, working with children, families, and adults in both the public and private sectors. Dallas specializes in trauma and attachment issues. In 2019, she served on the Appalachian Regional Commission Substance Abuse Advisory Council and is currently the chair of the Policy Committee for the Georgia Association of Community Service Boards. Dallas holds a bachelor’s in marketing from the University of Kentucky and a master’s in counseling from Georgia State University. She has worked as a military family life consultant with the Department of Defense and helped develop a network of clinicians for the Georgia Army National Guard and Georgia State Defense Force. She has contributed to Georgia co-response programs, is trained in Critical Incident Stress Management (CISM), and leads a CISM team within her agency.

     

    Georgia Film, Music, and Digital Entertainment Advisory Council 

    Walker Dalton is the executive director of the Savannah Regional Film Commission. Previously, he served as the Savannah College of Art and Design’s director of content, where he led a team of creatives that produced art, fashion, and documentary films. Before moving to Savannah, he was a producer for 10 years on Jay Leno’s Garage and, for five years, served in NBC Universal’s digital marketing department. In 2017, Dalton earned an Emmy nomination for Jay Leno’s Garage. His leadership as the film commissioner for the region around Savannah, Georgia is reinforced by his 25 years of entertainment industry experience.

    Maria Guerra-Stoll is the president and CEO of PAM Studios and founder of GSB Architects + Interiors Inc. She began her career in film studio design working at Tyler Perry Studios in 2007 and has since overseen projects for major clients including Netflix and AT&T. Guerra-Stoll’s firm has extensive experience in designing entertainment facilities across the U.S. and internationally. She founded PAM Studios LLC, focused on fostering local talent and providing production facilities in Rome, Georgia. A native of Caracas, Venezuela, she graduated from the University of Tennessee at Knoxville with a Bachelor of Architecture. She has also completed two MBE programs at the Tuck School of Business at Dartmouth College. Guerra-Stoll serves as an executive board member of the Latin American Chamber of Commerce. She served as chairman of the Board of the Georgia Hispanic Chamber of Commerce. Additionally, Guerra-Stoll is a former board member of the Georgia Latino Film Festival, the Georgia Chamber of Commerce, Habitat for Humanity, and the YWCA.

    Pamela Thompson has been the owner-operator of Dillard House Stables since 1989. Along with her crew of experienced trail guides, she strives to keep the horseback riding tradition alive. Thompson’s lifetime of experience with horses and 25 years in the “trail riding” business allows her the opportunity to offer a safe and enjoyable horseback ride for every level rider. Additionally, she serves as president of the Dillard Tourism Association and as a camera-ready liaison for Rabun County to the Georgia film industry.

    Scott Votaw is the Assistant Vice Chancellor of the Georgia Film Academy. With over 25 years of experience working for production companies including Saban, Fox, Lucasfilm Ltd., and others, Votaw has a deep knowledge base of film production, 2D/3D animation, special FX, motion capture, and post-production. With a decade of experience in education, he also holds expertise in current and trending production needs, training educational circular creation, and workforce development. As an international consultant with CSV-Consulting, Votaw worked for studio infrastructure providers, workforce development, and emerging technology companies within the film and entertainment production sectors in the Asia-Pacific region. Prior to this, Votaw supported efforts to grow the film and TV production industry in Georgia by maintaining a highly trained and industry-standard workforce by creating/advising some of the most successful educational programs globally.

     

    State Board of Registration of Used Motor Vehicle Dealers and Used Motor Vehicle Parts Dealers 

    Azfar Haque, Jimmy Lydon, and Tyler Wood were reappointed. 

     

    Division on Family and Children Services State Advisory Board  

    Pam Clayton is the vice president of Quality Advancement & Regulatory Affairs at the Georgia Health Care Association. In her role, Clayton supports members in regulatory compliance and quality improvement, building strong relationships with stakeholders at all levels. She previously held various leadership roles at Ethica Health and Retirement Communities, where she developed and implemented strategic initiatives in skilled nursing and ancillary services. She holds a Bachelor of Science in organizational management from Covenant College and an Associate of Science in nursing from Dalton College. An active member of several professional organizations, Clayton serves on the American Health Care Association’s Quality Cabinet and co-chairs the AHCA/NCAL Quality Committee.

    Belinda Davis is the senior field operations manager of the southeast area at the Georgia Department of Corrections (GDC). Davis began her career with the GDC in 1991 as an accounting technician at Burruss Correctional Training Center (CTC). In 1997, Davis was promoted to business manager of Burruss CTC, and, later that year, she was promoted to deputy warden of administration at Metro State Prison. In 2003, Davis transferred to Georgia Diagnostic & Classification Prison to serve as the deputy warden of administration. In 2005, Davis was promoted to superintendent at McEver Probation Detention Center. In 2008, she was promoted to warden of Dooly State Prison. Before its closure, Davis was the warden of Metro State Prison and subsequently became the warden of Pulaski State Prison. Davis earned her Bachelor of Business Administration from Mercer University and a Master of Public Administration degree from Columbus State University. She has completed basic correctional officer training, basic management training, Corrections Leadership Institute, Warden’s Pre-Command, and Georgia Law Enforcement Command College. Davis is the chair of the Butts County DFACS Board.

    Lesli Reece is a seasoned professional with over 30 years of experience. While she is retired now, she serves as the director of Fostering Together, a part of North Point Ministries that she has been involved in since 2011. She has also owned L & R Real Estate Services since 2009. Prior to her current endeavors, Reece spent 11 years at the Coca-Cola Company where she served in various roles, including corporate business development and director of US & Global Staffing. Based in Alpharetta, she is passionate about making a positive impact in her community and leveraging her extensive background in business and leadership to help people.

     

    Georgie Behavior Analyst Licensing Board 

    Brandy Locchetta is an Assistant Professor and Applied Behavior Analysis Program Coordinator at the University of West Georgia. She holds a Ph.D. in Early Childhood Education and Applied Behavior Analysis from Vanderbilt University, a master’s in early childhood special education from Vanderbilt University, and a bachelor’s in early childhood education from Georgia State University. Locchetta’s recent roles include serving as an editorial board member on topics in early childhood special education. Previously, she was adjunct faculty at York College of Pennsylvania and held leadership positions at the Georgia Department of Early Care and Learning. She has received notable awards such as the Leading the Pack Focused on the Future Award from the University of West Georgia and the Shores Award for Excellence in Teacher Education from Vanderbilt University.

     

    Georgia Board of Health Care Workforce

    Steven Gautney was reappointed.

     

    Georgia Composite Board of Professional Counselors, Social Workers, and Marriage and Family Therapists

    Brent Herrin and Bridget Knowles were reappointed.

     

    Georgia Commission on Civics Education

    Wes Cantrell, Kurt Doehrman, Judy Teasley, and Randy Trammell were reappointed

     

    MIL OSI USA News –

    January 23, 2025
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