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Category: Business

  • MIL-OSI: Asset Entities Inc. Regains Compliance with Nasdaq Listing Rule 5550(b)(1)

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Feb. 19, 2025 (GLOBE NEWSWIRE) — Asset Entities Inc. (“Asset Entities” or the “Company”) (NASDAQ: ASST), a provider of digital marketing and content delivery services across Discord, TikTok, and other social media platforms, and a Ternary Payment Platform company, today announced that it has regained compliance with Nasdaq Listing Rule 5550(b)(1), which requires minimum stockholders’ equity of $2.5 million.

    On February 18, 2025, the staff (the “Staff”) of the Listing Qualifications department of The Nasdaq Stock Market LLC (“Nasdaq”) notified the Company that based on the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 14, 2025, the Staff has determined that the Company complies with Listing Rule 5550(b)(1). The Staff further advised the Company that if the Company fails to evidence compliance upon filing its periodic report for the period ending March 31, 2025, it may be subject to delisting. Asset Entities expects that its stockholder’s equity will be at least $2.5 million as of March 31, 2025, as required by the Staff in its February 18, 2025, letter.

    On August 21, 2024, the Staff notified the Company that it did not comply with the minimum $2.5 million stockholders’ equity requirement for companies listed on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1). In response, the Company took immediate steps to fully comply by aggressively working to improve its financial strength and operations. These efforts included ongoing cost reduction initiatives, raising additional capital for future acquisitions and operations, and implementing and utilizing its at-the-market offering, which resulted in Asset Entities exceeding the $2,500,000 stockholders’ equity requirement.

    Arshia Sarkhani, CEO of Asset Entities, stated: “We are pleased that the Company successfully implemented a plan to regain compliance and meet the equity requirement, and is continuing to execute that plan going forward. Our team is committed to staying on course and ensuring continued regulatory compliance. As stated previously, our goal is to ensure that we continue our expansion and further development of our Discord, TikTok, and social media services, as well as expand our presence in the TikTok Shop space as a new TikTok Shop Partner. We are strongly encouraged by the significant increase in revenues over the last year, and we expect that trend will continue to grow with the anticipated future acquisitions and the new AE.360.DDM contracts.”

    To learn about Asset Entities, please go to www.assetentities.com. To learn about the Ternary payment platform, please go to www.ternarydev.com. To learn about Asset Entities 360 suite of discord services, go to www.ae360ddm.com and https://discord.gg/ae360ddm.  

    About Asset Entities Inc.

    Asset Entities Inc. is a technology company providing social media marketing, management, and content delivery across Discord, TikTok, Instagram, X (formerly Twitter), YouTube, and other social media platforms. Asset Entities is believed to be the first publicly traded Company based on the Discord platform, where it hosts some of Discord’s largest social community-based education and entertainment servers. The Company’s AE.360.DDM suite of services is believed to be the first of its kind for the Design, Development, and Management of Discord community servers. Asset Entities’ initial AE.360.DDM customers have included businesses and celebrities. The Company also has its Ternary payment platform that is a Stripe-verified partner and CRM for Discord communities. The Company’s Social Influencer Network (SiN) service offers white-label marketing, content creation, content management, TikTok promotions, and TikTok consulting to clients in all industries and markets. The Company’s SiN influencers can increase the social media reach of client Discord servers and drives traffic to their businesses. Learn more at assetentities.com, and follow the Company on X at $ASST and @assetentities.

    Important Cautions Regarding Forward-Looking Statements

    This press release contains forward-looking statements. In addition, from time to time, representatives of the Company may make forward-looking statements orally or in writing. These forward-looking statements are based on expectations and projections about future events, which are derived from the information currently available to the Company. Such forward-looking statements relate to future events or the Company’s future performance, including its financial performance and projections, growth in revenue and earnings, and business prospects and opportunities. Forward-looking statements can be identified by those statements that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors including those that are described in the section titled “Risk Factors” in the Company’s periodic reports which are filed with the Securities and Exchange Commission. These and other factors may cause the Company’s actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

    Company Contacts:
    Arshia Sarkhani, President and Chief Executive Officer
    Michael Gaubert, Executive Chairman
    Asset Entities Inc.
    Tel +1 (214) 459-3117 
    Email Contact

    Investor Contact:
    Skyline Corporate Communications Group, LLC
    Scott Powell, President
    1177 Avenue of the Americas, 5th Floor
    New York, NY 10036
    Office: (646) 893-5835
    Email: info@skylineccg.com

    The MIL Network –

  • MIL-OSI: Momnt Partners with ChargeAfter to Expand Financing Options for Contractors

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 19, 2025 (GLOBE NEWSWIRE) — Momnt, a leading fintech company specializing in real-time lending and payment solutions, has partnered with ChargeAfter, the embedded lending platform for point-of-sale financing, to provide home improvement contractors with a broader range of competitive lending options for their customers.

    This partnership enables home improvement contractors using the ChargeAfter platform to offer Momnt’s diverse loan product selection to their customers, leading to increased approval rates and customer satisfaction.

     “This partnership with ChargeAfter is a significant step in enhancing the financing options available to home improvement contractors,” said Chris Bracken, CEO of Momnt. “By integrating with ChargeAfter’s platform, we can provide contractors access to a wider range of competitive financing options, ultimately driving higher conversion rates and increased sales.”

    Contractors leverage ChargeAfter’s platform to seamlessly connect to a network of lenders, and provide personalized financing options that meet diverse customer credit needs. With a single application, ChargeAfter’s waterfall technology instantly matches customers with the best-fit financing choices. This streamlined approach simplifies the financing process for both contractors and customers, which is particularly important for in-home service, where a secure and seamless experience helps create a comfortable interaction.

    “We are thrilled to welcome Momnt to our network further expanding financing opportunities for home improvement contractors and their customers,” said Meidad Sharon, CEO of ChargeAfter. “This partnership will enable merchants to offer competitive prime lending solutions, making home improvement projects more accessible for homeowners. With ChargeAfter’s simple and easy-to-use user experience, post-sale capabilities, and advanced analytics, contractors can seamlessly manage the financing process while maximizing customer approval rates and sales potential.”

    Momnt’s technology seamlessly integrates with ChargeAfter’s platform, offering homeowners access to a variety of flexible financing options that can be viewed without impacting their credit score.

    About ChargeAfter

    ChargeAfter is pioneering the embedded lending network for point-of-sale consumer financing for merchants and financial institutions. Powered by a network of lenders and a data-driven matching engine, ChargeAfter streamlines the distribution of credit into a single, secure, and reliable embedded lending platform. Merchants can rapidly implement ChargeAfter’s omnichannel platform online, in-store, and at every point of sale, enabling them to provide personalized financing choices to their customers. ChargeAfter is backed by investors including Visa, Citi Ventures, Synchrony Financial, Banco Bradesco, MUFG, and more. Users can learn more at chargeafter.com.

    About Momnt

    Momnt is a state-of-the-art financial services technology platform that revolutionizes how merchants offer financing. Through Momnt’s embedded lending solution, businesses can effortlessly provide customers with simple, fast, and affordable financing options, all delivered through a seamless process. Momnt drives growth for merchants, extends personalized financing to consumers, and generates new revenue sources for financial institutions. Users can visit momnt.com to learn more.

    Contact

    Director of Marketing
    Varda Bachrach
    ChargeAfter
    varda.bachrach@chargeafter.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2d1bc6b4-da48-4057-a8ab-517299022b33

    The MIL Network –

  • MIL-OSI: American Rebel Light Beer Continues Rapid Expansion of National Distribution Footprint adding Iowa’s Mahaska Bottling Company

    Source: GlobeNewswire (MIL-OSI)

    American Rebel Light to be served at Knoxville Raceway the “Sprint Car Capital of the World” and the Dingus Lounge “Iowa’s Most Notorious Bar”

    Nashville, TN, Feb. 19, 2025 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), creator of American Rebel Beer (americanrebelbeer.com) and a designer, manufacturer, and marketer of branded safes, personal security and self-defense products and apparel (americanrebel.com), proudly announces its strategic expansion into Iowa through a partnership with Mahaska Bottling Company (mahaska.com). This move is a significant milestone in the Company’s broader Midwest growth strategy, underscoring Iowa’s pivotal role as a key market in American Rebel’s regional expansion.

    “I had a hunting show, Maximum Archery World Tour, on television for ten years. I bowhunted all over the world, but in Iowa I’ve met some of the most passionate hunters and outdoorsmen I’ve ever met. I’ve done several “meet and greets” at the Iowa Deer Classic in Des Moines over the years and it was always a lot of fun and great to meet everyone there. Getting American Rebel Light Beer distributed throughout the state of Iowa really means a lot to me,” said American Rebel CEO Andy Ross.

    Powerful Iowa Distribution Partnership – Mahaska Bottling Company and Rebel Light

    Founded in 1889, Mahaska Bottling Company boasts a rich history of providing high-quality beverage distribution services across Iowa. Their extensive network and dedication to customer satisfaction make them an ideal partner for American Rebel Beer.

    The agreement with Mahaska Bottling Company will allow American Rebel Light Beer to captivate a broader audience in Iowa, introducing its Premium Light Lager to beer enthusiasts across the region. This partnership aims to provide a seamless distribution network, ensuring American Rebel Light Beer is available in local bars, restaurants, and retail outlets. “We are very excited to bring American Rebel Light to our valued customers in the State of Iowa,” said Chad Irving, Chief Marketing Officer of Mahaska Bottling Company.

    “We are thrilled to partner with Mahaska Bottling Company to bring American Rebel Light Beer to Iowa,” said Todd Porter, President of American Rebel Beverages. “This collaboration allows us to serve the patriotic consumers in Iowa who are looking for a clean, natural, and great-tasting light beer that embodies the values of our great nation.”

    Launch Events to bring American Rebel Light Beer to Iowa’s Best Venues

    American Rebel Beer will host a series of exciting events, including beer tastings, live music performances, and promotional giveaways. The festivities will kick off this Spring and run through the Fall, offering a perfect opportunity for the community to come together and enjoy America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, STAND YOUR GROUND BEER!

    American Rebel Light will be anchored by two legendary Iowa establishments:

    “The Knoxville Raceway and the Dingus Lounge will put Rebel Light on the map in Iowa right out of the box,” said American Rebel CEO Andy Ross. “And Mahaska Bottling Company and our Rebel Light Street Team will carry our message throughout the rest of the state utilizing our Rebel Light nights in bars and restaurants across the state.

    The Knoxville Raceway is known as the “Sprint Car Capital of the World” and the home of the Knoxville Nationals, a premier sprint car racing event that draws tens of thousands of fans each year that was first held in 1961.

    “We have been looking forward to getting American Rebel Light in here for a while,” said Knoxville Raceway General Manager Jason Reed. “It’s a great fit for our audience. We love what American Rebel is doing in motor sports and we look forward to supporting them.”

    The Knoxville Raceway seats around 21,000, which is thought to be the fourth largest outdoor facility in Iowa behind the football stadiums of Iowa and Iowa State University and the Iowa Speedway. To promote American Rebel Light at the Raceway, entertainment events headlined by American Rebel CEO Andy Ross are in the works. American Rebel and Tony Stewart Racing will collaborate on further promotional value through the American Rebel sponsorship of the Tony Stewart Racing NHRA Funny Car driven by Matt Hagan and Tony Stewart’s love of sprint car racing and Tony’s suite at the Knoxville Raceway.

    “Iowa’s Most Notorious Bar”, the Dingus Lounge, is the ideal establishment to serve American Rebel Light. Owner AJ Mottet has expanded Dingus again and again. He now owns the entire block and during the Knoxville Nationals he’ll pack every square foot with patriotic race fans who love beer

    “Dingus Lounge is excited and proud to be a part of American Rebel Beer,” said AJ Mottet. “The World’s Best Racing Bar and our patrons stand for the same core values that American Rebel represents. Freedom has a price, that price is the sacrifice many men and women who gave everything for us to be the land of the free. Dingus and American Rebel Beer honor those who sacrificed. We honor them every day. It’s who we are.”

    “I LOVE THAT BAR,” said Andy Ross. “I would love to play at the Dingus Lounge during the Knoxville Nationals. That would be a great date to add to our tour this summer. It’s definitely our crowd and I think it would be a blast.”

    During the Thursday of a previous Knoxville Nationals Dingus claims it sold 10,700 cans of Busch Light alone. “We had a chain of employees handing cases right from the truck through the crowd, right into the bar tubs,” Mottet says. “If they can love the dirt in their track, then they can love the dive in their bar.”

    For more information about the launch events and American Rebel Beer, please visit (americanrebelbeer.com) or follow us on our social media platforms.

    About Mahaska Bottling Company

    Mahaska Bottling Company is a 7th generation family-owned bottling and distribution company that has been around for more than 135 years. From its early years at the dawn of the soft-drink industry, Mahaska has expanded its portfolio and added a multitude of product and service lines across non-alcoholic beverages, coffee, food, snacks, and beer.

    About American Rebel Light Beer

    Produced in partnership with AlcSource, American Rebel Light Beer (americanrebelbeer.com) is a premium domestic light lager celebrated for its exceptional quality and patriotic values. It stands out as America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand Your Ground Beer.

    American Rebel Light is a Premium Domestic Light Lager Beer – All Natural, Crisp, Clean and Bold Taste with a Lighter Feel. With approximately 100 calories, 3.2 carbohydrates, and 4.3% alcoholic content per 12 oz serving, American Rebel Light Beer delivers a lighter option for those who love great beer but prefer a more balanced lifestyle. It’s all natural with no added supplements and importantly does not use corn, rice, or other sweeteners typically found in mass produced beers.

    About American Rebel Holdings, Inc.

    American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Light Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit www.americanrebel.com and www.americanrebelbeer.com. For investor information, visit www.americanrebel.com/investor-relations.

    Media Inquiries:
    Matt Sheldon
    Matt@Precisionpr.co
    917-280-7329

    American Rebel Holdings, Inc.
    info@americanrebel.com

    American Rebel Beverages, LLC
    Todd Porter, President
    tporter@americanrebelbeer.com

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of marketing outreach efforts, actual placement timing and availability of American Rebel Beer, success and availability of the promotional activities, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Company Contact:
    tporter@americanrebelbeer.com
    info@americanrebel.com

    Attachment

    The MIL Network –

  • MIL-OSI: Compass Diversified Director James Bottiglieri Announces Retirement

    Source: GlobeNewswire (MIL-OSI)

    WESTPORT, Conn., Feb. 19, 2025 (GLOBE NEWSWIRE) — Compass Diversified Holdings (NYSE: CODI) (“CODI” or the “Company”), an owner of leading middle market businesses, announced today that current director James J. Bottiglieri (“Jim”) advised the Board of Directors (the “Board”) on February 14, 2025 that he plans to retire prior to the Company’s 2025 annual shareholders meeting (the “2025 Annual Meeting”). Mr. Bottiglieri will remain on the Company’s Board and as a member of each of the Company’s Nominating and Corporate Governance Committee and Audit Committee up and until the Company’s 2025 Annual Meeting. Mr. Bottiglieri joined the Board in December of 2005. He served as the Company’s Chief Financial Officer and as an Executive Vice President of the Company’s Manager from 2005 to 2013. The Company does not currently intend to fill the Board vacancy created by Mr. Bottiglieri’s retirement.

    Elias Sabo, CEO of CODI, commented: “It has been an absolute honor and privilege to work with Jim over the past 20 years. He has been a great leader, director, mentor, and friend. It is difficult to measure the many contributions Jim has made to our organization, beginning with our initial public offering in 2006. His accounting expertise and superior integrity were fundamental in establishing the groundwork we rely on today to ensure strong financial controls and provide transparency to our shareholders. On behalf of our entire organization, I want to express our sincere gratitude to Jim for his years of dedicated service and wish him all the best following his retirement.”

    Larry Enterline, Board Chair, added: “I am happy for Jim to have the opportunity to enjoy a well-earned retirement. Jim is a consummate professional and has worked collaboratively during his tenure to pass along his significant institutional knowledge and assist with the development of the next generation of Board leadership. Although Jim will be missed, his retirement is the culmination of a years-long strategy to refine CODI’s Board and recruit and retain a highly capable group of leaders who are well-equipped to oversee our business and represent the interests of our shareholders.”

    Jim Bottiglieri stated: “I am grateful for the opportunities I’ve been afforded during my tenure with CODI. Being able to support this unique organization through its transformational growth over the past 20 years has been a highlight of my career. At its core, CODI is an organization comprised of exceptional people and has many exciting opportunities for growth in the years ahead.”

    About Compass Diversified (“CODI”)

    Since its IPO in 2006, CODI has consistently executed its strategy of owning and managing a diverse set of highly defensible, middle-market businesses across the branded consumer, industrial, healthcare, and critical outsourced services sectors. The Company leverages its permanent capital base, long-term disciplined approach, and actionable expertise to maintain controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment and accountability. For more information, please visit compassdiversified.com.

    Forward Looking Statements

    This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with regard to the expectations related to the future performance of CODI. Words such as “believes,” “expects,” “will,” “anticipates,” “intends,” “continue,” “projects,” “potential,” “assuming,” and “future” or similar expressions, are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions, some of which are not currently known to CODI. In addition to factors previously disclosed in CODI’s reports filed with the SEC, the following factors, among others, could cause actual results to differ materially from forward-looking statements: changes in the economy, financial markets and political environment; risks associated with possible disruption in CODI’s operations or the economy generally due to terrorism, natural disasters, social, civil and political unrest or the COVID-19 pandemic; future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); general considerations associated with the COVID-19 pandemic and its impact on the markets in which we operate; and other considerations that may be disclosed from time to time in CODI’s publicly disseminated documents and filings. Further information regarding CODI and factors which could affect the forward-looking statements contained herein can be found in CODI’s annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Forward-looking statements speak only as of the date they are made. Except as required by law, CODI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    Investor Relations

    Compass Diversified
    irinquiry@compassdiversified.com

    Gateway Group
    Cody Slach
    949.574.3860
    CODI@gateway-grp.com

    Media Relations

    Compass Diversified
    mediainquiry@compassdiversified.com

    The IGB Group
    Leon Berman
    212.477.8438
    lberman@igbir.com

    The MIL Network –

  • MIL-OSI: Locafy Limited Highlights Growth and Strategic Partnerships in Recent Investor Presentations

    Source: GlobeNewswire (MIL-OSI)

    PERTH, Australia, Feb. 19, 2025 (GLOBE NEWSWIRE) — Locafy Limited (Nasdaq: LCFY, LCFYW) (“Locafy” or the “Company”), a globally recognized leader in location based digital marketing solutions, with market leading SEO capabilities, recently participated in two investor-focused presentations, highlighting its latest business developments and strategic initiatives.

    Breakout Investors Presentation with Fathom Holdings (NASDAQ: FTHM)
    Locafy CEO Gavin Burnett joined Breakout Investors alongside Fathom Holdings CEO Marco Fregenal to discuss their partnership, which is designed to enhance real estate professionals’ digital presence through advanced SEO solutions. The collaboration leverages Locafy’s proprietary Localizer technology to help real estate agents and brokerages improve their search engine rankings, attract more leads, and convert online visibility into business growth.

    During the presentation, Locafy and Fathom Holdings provided insights into how Locafy’s innovative SEO technology is supporting Fathom’s rapidly expanding network of real estate professionals. The discussion covered the integration of Locafy’s local SEO solutions into Fathom’s existing technology ecosystem, driving increased visibility and engagement for agents and clients.

    A recording of the presentation and further details are available on the Breakout Investors platform here.

    Locafy Featured on Planet MicroCap Podcast
    Locafy was also recently featured on the Planet MicroCap Podcast, hosted by Robert Kraft, where Burnett discussed the Company’s latest advancements and growth strategies.

    During the interview, Burnett provided insights into:

    • Locafy’s Competitive Edge: How its proprietary local SEO technology is helping businesses secure Page 1 Google rankings with minimal effort.
    • Growth Strategy & Market Expansion: The Company’s capital-efficient approach to scaling its operations and revenue.
    • Recent Partnerships & Industry Impact: Including the collaboration with Fathom Holdings to enhance the real estate sector’s digital presence.
    • AI & SEO Innovations: The increasing role of AI-driven search and how Locafy is positioning itself at the forefront of the industry’s evolution.

    The full podcast episode can be accessed here.

    Locafy will be attending the Planet MicroCap Showcase: VEGAS 2025 being held April 22-24, 2025 at the Paris Hotel & Casino in Las Vegas, NV. Investors interested in scheduling a one-on-one meeting with Locafy management can contact Locafy’s investor relations team at LCFY@gateway-grp.com.

    “We appreciate the opportunity to engage with the investment community and showcase how Locafy’s technology is driving real business impact,” said Burnett. “Our partnership with Fathom Holdings highlights the increasing demand for effective local SEO solutions in the real estate sector, and our conversation on Planet MicroCap allowed us to share how we’re positioning Locafy for sustained growth.”

    For more information about Locafy’s technology, including educational blogs and case studies, please visit Locafy’s investor relations website at investor.locafy.com.

    About Locafy
    Locafy (Nasdaq: LCFY, LCFYW) is a globally recognized software-as-a-service technology company specializing in local search engine marketing. Founded in 2009, Locafy’s mission is to revolutionize the US$700 billion SEO sector. We help businesses and brands increase search engine relevance and prominence in a specific proximity using a fast, easy, and automated approach. For more information, please visit www.locafy.com.

    Forward-Looking Statements
    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “subject to”, “believe,” “anticipate,” “plan,” “expect,” “intend,” “estimate,” “project,” “may,” “will,” “should,” “would,” “could,” “can,” the negatives thereof, variations thereon and similar expressions, or by discussions of strategy, although not all forward-looking statements contain these words. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 20-F, filed with the SEC on November 12, 2024, as amended, and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

    Investor Relations Contact
    Matt Glover
    Gateway Group, Inc.
    (949) 574-3860
    LCFY@gateway-grp.com 

    The MIL Network –

  • MIL-OSI: YPrime Announces Advanced eCOA Localization Capabilities

    Source: GlobeNewswire (MIL-OSI)

    MALVERN, Pa., Feb. 19, 2025 (GLOBE NEWSWIRE) — YPrime, the leading pioneer in clinical trial technology, today unveiled significant enhancements to its electronic clinical outcome assessment (eCOA) platform, aimed at revolutionizing the globalization of clinical trials. At the heart of these enhancements is YPrime’s cutting-edge AI Migration Tool, which innovates the translation process, significantly improving speed and accuracy in multi-language clinical trials.

    In today’s interconnected world, clinical trials demand a global approach. YPrime’s enhanced eCOA localization capabilities address this need by providing a seamless, efficient process for implementing multilingual deployments. The company’s innovative new approach empowers sponsors to launch studies faster and with greater precision by successfully automating an often manual and error-prone step in the localization process—migration. By eliminating this common cause of on-screen content issues that can plague eCOA localization efforts, this advancement paves the way for more efficient and cost-effective global clinical research.

    “Our eCOA localization capabilities are a significant leap in clinical trial efficiency,” explained Jonathan Norman, Director of Localization at YPrime. “By accelerating eCOA localization with modern approaches to key parts of the process such as migration, we empower sponsors to reach a broader, more diverse patient population while adhering to stringent timelines. Our unique approach drives the collection of high-quality, representative data on an international scale. Ultimately, our goal is to support patient access to trials, wherever they are in the world, and remove associated operational barriers for trial sponsors, leading to better health outcomes across diverse global populations.”

    YPrime’s eCOA localization capabilities combine cutting-edge technology with deep industry expertise to streamline global clinical trials. Leveraging advanced AI-powered large language model (LLM) tools, YPrime accelerates the overall localization process while maintaining exceptional linguistic precision. Acknowledging the importance of human expertise, YPrime integrates automated workflows with expert-driven linguistic review to ensure target language content is both accurately presented and compliant with industry expectations.

    Additionally, YPrime offers an extensive repository of pre-translated, culturally validated eCOA questionnaires, enabling faster, more efficient study launches and reducing the complexities of global trial execution.

    With nearly two decades of experience, solutions in over 250 languages, and support in more than 100 countries, YPrime has positioned itself as the ultimate enabler of faster, more flexible, and high-quality eCOA for global clinical trials. The company’s localization workflows and rigorous quality assurance processes deliver unparalleled accuracy with cost-effective solutions that prioritize client trust and trial success. For more information about YPrime’s advanced eCOA localization capabilities and how they can accelerate your clinical trial process, contact YPrime at marketing@yprime.com or visit yprime.com/ecoa.

    About YPrime  
    YPrime simplifies clinical trials with eCOA, IRT, and eConsent solutions that combine speed, flexibility, and quality. The YPrime eCOA platform enhances patient compliance with an intuitive app and easy-to-use design, streamlines site workflows through a powerful eCOA portal, integrates seamlessly with connected devices, and supports sponsors with real-time dashboards for better decision-making. A pre-validated and configurable eCOA platform delivers study startup 47% faster than industry benchmarks, with AI-supported localization that accelerates globalization. Delivering ~50% faster IRT startup times, eConsent that drives engagement, and quality metrics 55% above industry standards, YPrime is trusted by top pharma leaders and emerging biotech companies alike. With nearly two decades of experience, solutions in 250+ languages, and support in 100+ countries, YPrime is your partner in solving for certainty. Visit www.yprime.com or email marketing@yprime.com. 

    Media Contact          
    Terry Rehm  
    Head of Thought Leadership and Public Relations, YPrime  
    trehm@yprime.com
    862-288-0329 

    The MIL Network –

  • MIL-OSI: ACT-ion announces Anthony Thurston as Chief Operating Officer

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Feb. 19, 2025 (GLOBE NEWSWIRE) — ACTion Battery Technologies, Inc. (“ACT-ion”) announced the appointment of Anthony Thurston as Chief Operating Officer. Thurston has decades of experience working with diverse cathode active materials (CAM) including multiple technical leadership positions at Tesla, BASF, and Apple. The move comes as the CAM innovator accelerates commercialization of its leading manufacturing process.

    Thurston joins ACT-ion from Tesla, where he spent five years leading Tesla’s Cathode Materials and Manufacturing operations globally, including the Austin Texas high nickel cathode Gigafactory. Prior to Tesla, Thurston held prominent Research and Development leadership roles at Apple and BASF.

    “Tony’s proven ability to translate cutting-edge battery technologies into high-volume production makes him the ideal leader for this phase of ACT-ion’s growth,” said Jin Lim, CTO and interim CEO of ACT-ion. “His experience with industry-leading CAM manufacturing lines at Tesla, BASF, and Apple will be invaluable as we prepare to bring our first pilot-scale CAM production line online in 2025.”

    In his new role, Thurston will oversee the buildout of ACT-ion’s pilot facility in Dallas, Texas — a critical step in validating the company’s continuous process technology with automotive and grid storage partners. The facility will demonstrate ACT-ion’s ability to produce chemistry-agnostic single crystal CAM at scale.

    “ACT-ion’s technology represents a fundamental manufacturing breakthrough,” Thurston said. “The potential to make domestic CAM production cost-competitive while improving battery cycle life aligns perfectly with the needs of next-generation EVs and renewable energy systems. I’m excited to help transform this innovation into a global industrial reality.”

    Thurston’s appointment follows three months after the company’s Pre-Series A round led by BASF Venture Capital, with participation from Hunt Energy Enterprises, Mirae Asset Capital, Arosa Capital Management, and LG Technology Ventures.

    About ACTion Battery Technologies, Inc.
    ACTion Battery Technologies, Inc. (“ACT-ion”) is a leading lithium battery cathode active material (CAM) technology company. As an advanced manufacturing technology company, ACT-ion produces coated single crystal CAMs for lithium batteries through its novel, clean, and chemistry-agnostic process that requires lower energy and cost. For more information, please visit www.act-ion.com.

    Media Contact:
    For more information, please contact ACT-ion Communications

    Email: inquiry@act-ion.com

    The MIL Network –

  • MIL-OSI: Abacus Life Completes the Rebranding of FCF Advisors with New ETF and Fee Reductions

    Source: GlobeNewswire (MIL-OSI)

    ORLANDO, Fla., Feb. 19, 2025 (GLOBE NEWSWIRE) — Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a pioneering global alternative asset manager specializing in leveraging longevity data and actuarial technology to offer uncorrelated investment opportunities, today announces the rebranding of FCF Advisors to Abacus FCF Advisors, a subsidiary of ABL Wealth.

    This rebrand highlights the manager’s position as a leader in free cash flow investing and analytics by pioneering the FCF Leaders Model, which serves as the foundation for the firm’s quantitative investment process that identifies the most profitable companies. As part of the rebrand, Abacus FCF Advisors announced the launch of the Abacus FCF Small Cap Leaders ETF (ticker: ABLS), and management fee reductions of 5-10 basis points across all ETFs. An 18-month fee waiver of 20 basis points was also introduced on four of the ETFs.

    Ticker Fund Name
    ABFL Abacus FCF Leaders ETF
    ABLG Abacus FCF International Leaders ETF
    ABLD Abacus FCF Real Assets Leaders ETF*
    ABOT Abacus FCF Innovation Leaders ETF*
    ABLS Abacus FCF Small Cap Leaders ETF*
    ABHY Abacus Tactical High Yield ETF*

    *Effective 2/1/2025, a fee waiver of 20 basis points will be offered to these funds for 18 months.

    To celebrate this iconic event, the Abacus FCF Advisors team, along with other executives from ABL Wealth, is ringing the Cboe Global Markets Exchange opening bell today, Wednesday, February 19, 2025.

    “We are thrilled to ring the Cboe bell,” said Jay Jackson, CEO of Abacus Life. “The FCF acquisition, including the rebranded funds and new ETF, constitute significant milestones in Abacus’ ongoing expansion of ABL Wealth and its suite of innovative products, as well as our goal of delivering comprehensive, lifespan-based financial advisory services and products. FCF aligns perfectly with our strategy of providing clients with holistic and tailored financial solutions throughout their lives.”

    About Abacus FCF Advisors

    Abacus FCF Advisors is a leader in free cash flow investing and analytics, having pioneered the Free Cash Flow Leaders Model, which serves as the foundation for the firm’s quantitative investment process. Based on our research for the past decade, constructing a high-conviction portfolio through comprehensive analysis of Free Cash Flow Return on Invested Capital has historically outperformed and delivered superior long-term capital growth. This model prioritizes prudent capital expenditure, low accruals, high cash flow margins, and strong asset turnover. Abacus FCF Advisors has a suite of core and thematic free cash flow equity strategies and offers over 50 customizable free cash flow index strategies covering 8 global equities allocation categories available in ETFs, SMA/white label SMA and model delivery.

    www.abacusfcf.com

    About Abacus

    Abacus is a pioneering global alternative asset manager and market maker specializing in uncorrelated financial products. The company leverages its proprietary, cutting-edge longevity data and actuarial technology to purchase life insurance policies from consumers seeking liquidity. This creates a high-return asset class uncorrelated to market fluctuations for institutional investors.

    With nearly $3 billion in assets under management, including recently-completed acquisitions, Abacus is the only publicly traded global alternative asset manager focused on lifespan-based financial products.

    Abacus is expanding its leading expertise in longevity and lifespan into new growth areas:

    • ABL Wealth – Leverages decades of data and proprietary algorithms to offer longevity-based wealth management platforms that enable financial advisors to create customized plans and provide access to uncorrelated investments.
    • ABL Tech – A groundbreaking technology service that delivers advanced real-time data tracking and analysis for pension funds, governments, insurance companies, retirement associations, and more.

    Through each new channel, Abacus is revolutionizing the future of asset management and financial planning, centered on longevity and lifespan.

    www.Abacuslife.com

    Contacts:

    ABL Wealth

    Fei Xue, CAIA – Vice President, ABL Wealth
    fei@abacuslife.com
    (321) 710-5957

    Abacus Life Investor Relations

    Robert F. Phillips – SVP Investor Relations and Corporate Affairs
    rob@abacuslife.com
    (321) 290-1198

    David Jackson – IR/Capital Markets Associate
    djackson@abacuslife.com
    (321) 299-0716

    Abacus Life Public Relations
    press@abacuslife.com

    Important Information:

    Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the statutory and summary prospectuses, a copy of which may be obtained by visiting the Fund’s website at www.abacusfcf.com/ABFL, www.abacusfcf.com/ABLG, www.abacusfcf.com/ABLD, www.abacusfcf.com/ABOT,  www.Abacusfcf.com/ABLS, www.Abacusfcf.com/ABHY. Please read the prospectus or summary prospectus, if available, carefully before you invest.

    Investing involves risk, including possible loss of principal.

    Free Cash Flow (FCF) represents the cash that a company is able to generate after accounting for capital expenditures.

    Distributed by Quasar Distributors, LLC. Quasar is not related to Abacus or ABL.

    The MIL Network –

  • MIL-OSI: LM Funding America, Inc. Upgrades Fleet Efficiency and Hashrate with Luxor Firmware by 10-15%

    Source: GlobeNewswire (MIL-OSI)

    TAMPA, Fla., Feb. 19, 2025 (GLOBE NEWSWIRE) — LM Funding America, Inc. (NASDAQ:LMFA) (“LM Funding” or the “Company”), a Bitcoin mining and technology-based specialty finance company, today announced a strategic partnership between its US Digital Mining and Hosting Co subsidiary (“USDM”) and Luxor Technology Corporation (“Luxor”), a leader in Bitcoin mining software services, for the deployment of LuxOS firmware on the Company’s Bitcoin mining fleet.

    The LuxOS firmware upgrade was completed in early February 2025 and is expected to optimize the Company’s machines, increase efficiency and hashrate, and improve overall system reliability across various operational conditions. LM Funding expects this software upgrade to enhance its Bitcoin mining efficiency by 10-15%, directly resulting in higher profitability and extending machine life.

    Bruce M. Rodgers, Chairman and CEO of LM Funding, stated, “We are very pleased about this partnership as it enhances our hashrate by another 10-15% without any additional hardware investment. This enables us to mine more Bitcoin at higher margins and increase profitability.”

    Aaron Foster, Director of Business Development at Luxor, added, “This partnership represents a critical step forward in optimizing USDM’s mining operations, maximizing uptime, reducing costs, and ensuring systems operate reliably even in challenging conditions. Together with Luxor, the Company is setting a new standard for mining efficiency, profit maximization and performance.”

    About LuxOS
    Technology: LuxOS’s intelligent auto-tuning, machine voltage and frequency are precisely adjusted to maximize hashrate while reducing power consumption. Additionally, LuxOS’s Advanced Thermal Management system proactively maximizes fleet uptime by dynamically adjusting performance based on temperature thresholds, ensuring long-term operation stability.

    Audit and Compliance: Luxor is the only U.S. based firmware to achieve SOC 2 (Type II) certification, demonstrating the Company’s commitment to security, reliability, and compliance. Luxor’s certification ensures that institutional Bitcoin mining operations meet the highest standards set by the industry’s top auditors and best practices.

    About LM Funding America
    LM Funding America, Inc. (Nasdaq: LMFA), operates as a Bitcoin mining and specialty finance company. The company was founded in 2008 and is based in Tampa, Florida. For more information, please visit https://www.lmfunding.com.

    About Luxor Technology Corporation
    Luxor Technology Corporation is a Bitcoin mining software and services company that offers a suite of products catered toward the mining and compute power industry. Luxor’s suite of software and services includes an Antminer ASIC Firmware, an ASIC Marketplace, a Bitcoin mining pool, a Hashrate Derivatives Desk, and a Bitcoin mining data platform.

    Forward-Looking Statements 
    This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guaranties of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company’s most recent Annual Report on Form 10-K and its other filings with the SEC, which are available at www.sec.gov. These risks and uncertainties include, without limitation, uncertainty created by the risks of operating in the cryptocurrency mining business, uncertainty in the cryptocurrency mining business in general, problems with hosting vendors in the mining business, the capacity of our Bitcoin mining machines and our related ability to purchase power at reasonable prices, the ability to finance and grow our cryptocurrency mining operations, our ability to acquire new accounts in our specialty finance business at appropriate prices, the potential need for additional capital in the future, changes in governmental regulations that affect our ability to collected sufficient amounts on defaulted consumer receivables, changes in the credit or capital markets, changes in interest rates, and negative press regarding the debt collection industry. The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition, and results of operations. 

    For investor and media inquiries, please contact:  

    LM Funding America, Inc.
    Investor Relations  
    Orange Group  
    Yujia Zhai  
    LMFundingIR@orangegroupadvisors.com  

    Luxor Technology Corporation
    Director, Business Development
    Aaron Foster
    aaron@luxor.tech

    The MIL Network –

  • MIL-OSI: Oxford Lane Capital Corp. Announces Offering of Notes

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., Feb. 19, 2025 (GLOBE NEWSWIRE) — Oxford Lane Capital Corp. (NasdaqGS: OXLC) (NasdaqGS: OXLCP) (NasdaqGS: OXLCL) (NasdaqGS: OXLCO) (NasdaqGS: OXLCZ) (NasdaqGS: OXLCN) (NasdaqGS: OXLCI) (the “Company”) today announced the commencement of a registered public offering of notes (the “Notes”). The public offering price and other terms of the Notes are to be determined by negotiations between the Company and the underwriters. The Company also plans to grant the underwriters a 30-day option to purchase additional Notes on the same terms and conditions to cover over-allotments, if any.

    The Notes are expected to be listed on the NASDAQ Global Select Market and to trade thereon within 30 days of the original issue date.

    The Company expects to use the net proceeds from this offering to acquire investments in accordance with its investment objective and strategies and for general working capital purposes.

    Lucid Capital Markets, LLC and Piper Sandler & Co. are acting as joint book-running managers for the offering, and Clear Street LLC, InspereX LLC, Janney Montgomery Scott LLC and William Blair & Company, L.L.C. are acting as lead managers for the offering.

    This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in this offering or any other securities nor will there be any sale of these securities or any other securities referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

    A shelf registration statement relating to these securities is on file with the Securities and Exchange Commission and effective. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained, when available, from the following investment banks: Lucid Capital Markets, LLC, 570 Lexington Ave, 40th Floor, New York, NY 10022 or by telephone number (646) 362-0256; Piper Sandler & Co., Attn: Debt Capital Markets, 1251 Avenue of the Americas, 6th Floor, New York, NY 10020 or by e-mailing fsg-dcm@psc.com. The preliminary prospectus supplement, dated February 19, 2025, and accompanying prospectus, dated November 8, 2024, each of which has been filed with the Securities and Exchange Commission, contain a description of these matters and other important information about the Company and should be read carefully before investing. Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before investing.

    About Oxford Lane Capital Corp.

    Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company principally investing in debt and equity tranches of collateralized loan obligation (“CLO”) vehicles. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.

    Forward-Looking Statements

    This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions, including statements with regard to the anticipated use of the net proceeds of the Company’s offering of the Notes. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events, except as may be required by law.

    Contact:

    Bruce Rubin
    203-983-5280

    The MIL Network –

  • MIL-OSI: Laidlaw & Co. Announces Appointment of Douglas M. Jacoby to General Counsel

    Source: GlobeNewswire (MIL-OSI)

    • Douglas M. Jacoby brings over 25 years of experience to the position at Laidlaw & Co. as General Counsel
    • Douglas M. Jacoby previously served as the Director of Enforcement and Commissioner of Securities for the State of Missouri

    NEW YORK, Feb. 19, 2025 (GLOBE NEWSWIRE) — Laidlaw & Company (“Laidlaw & Co.” or “Laidlaw” or the “Company”), an established international investment banking and securities brokerage firm serving high-net-worth individuals and institutions, is pleased to announce the appointment of Douglas M. Jacoby to the role of General Counsel effective February 3, 2025.

    With over 25 years of experience as in-house legal counsel, Jacoby brings a wealth of expertise to his new role. In his appointment, Laidlaw & Co. anticipates advancing continuous improvement and adaptation within the evolving regulatory environment. Jacoby will strategically advise the board and senior management on all compliance matters.

    “I look forward to assuming this new venture at Laidlaw as their General Counsel,” commented Doug Jacoby. “My commitment is to support Laidlaw’s business objectives while upholding the highest ethical standards and best practices, ensuring their continued success. Moreover, I look forward to collaborating with their exceptional team, offering legal counsel and providing ongoing strategic guidance that reinforces the company’s goals and maintains its leadership in ethical standards and best practices.”

    “We are pleased to welcome Doug to Laidlaw as our General Counsel,” commented Matthew D. Eitner, Chief Executive Officer of Laidlaw & Co. “His extensive experience in securities regulation, enforcement, and investment banking legal counsel will be invaluable in reinforcing our firm’s strong compliance framework and commitment to excellence.”

    Jacoby previously served as the Commissioner of Securities and Director of Enforcement for the State of Missouri Securities Division, a role in which he managed and oversaw all aspects of the Division’s three sections: Registration, Examinations and Enforcement, regulating broker-dealers, agents, investment advisers and their representatives.

    Prior, Jacoby was in-house counsel for several Wall Street investment banks in New York City and London. He worked for the Financial Industry Regulatory Authority (FINRA) as Senior Counsel for Market Regulation Enforcement, was Executive Director of the Legal Department at Nomura Securities International, Inc., Senior Vice President and Legal Counsel at Lehman Brothers Inc./Barclays Capital Inc. and Vice President, Legal & Compliance Department at Credit Suisse First Boston LLC. Jacoby has also served as an adjunct faculty member at The Stillman School of Business at Seton Hall University.

    About Laidlaw & Co.

    For nearly two centuries, Laidlaw & Company has maintained a legacy of independent investment banking and securities brokerage, tailored to the specific needs of both domestic and international companies, corporate entrepreneurs, institutions, and private clients worldwide.

    Our expansive and continually growing network spans across the United States and Europe. These professionals operate under our FINRA registered subsidiary and extend our influence through an FCA authorized subsidiary based in London.

    Additionally, our team in healthcare-focused investment banking and capital markets comprises mainly senior professionals. These experts seamlessly merge ‘bulge’ bracket experience with the unique perspective of an entrepreneurial ‘independent’ firm. Their primary objective is to offer in-depth, hands-on transaction management and holistic solutions. One of our distinctive capabilities lies in aiding emerging companies to swiftly secure capital, courtesy of our robust retail sales force. This ensures our corporate clients enjoy the financial latitude they need to thrive and expand.

    At our core, we foster an entrepreneurial spirit, marked by a robust work ethic and an innovative “think outside the box” approach. We specialize in gathering assets and delivering financial solutions through both our in-house and independent sales offices.

    Media Contact

    Jessica Starman
    media@laidlawltd.com

    The MIL Network –

  • MIL-OSI: Atos Successfully Supports Invictus Games Vancouver Whistler 2025 Reach New Heights

    Source: GlobeNewswire (MIL-OSI)

                                                                   News

    Atos Successfully Supports Invictus Games Vancouver Whistler 2025 Reach New Heights

    Atos services were instrumental in helping participants share their extraordinary resilience and passion on-site and with audiences worldwide

    Vancouver and Whistler, Canada, and Paris, France, February 18, 2025 – Atos, a global leader in digital transformation and the Official Technology Partner of the Invictus Games Vancouver Whistler 2025, today announces it has successfully delivered the full range of critical IT services that helped make the games, which took place from February 8 to 16, 2025, a unique event.

    This event brought together up to 550 competitors from 23 nations, introducing winter sports to the Invictus Games for the first time. Atos provided the entire range of essential services, including data processing, timing and scoring, public scoreboards, TV graphics, as well as live results for a total of 11 sports: Wheelchair Basketball, Sitting Volleyball, Wheelchair Rugby, Indoor Rowing, Swimming, Wheelchair Curling, Alpine Skiing, Snowboarding, Biathlon, Nordic Skiing, and Skeleton.

    The Invictus Games is an international adaptive multi-sport event founded by Prince Harry, Duke of Sussex, for wounded, injured, and sick service members and Veterans. Launched in London in 2014, the Games aim to use the power of sport to inspire recovery, support rehabilitation, and generate a wider understanding and respect for those who serve their countries. Participants compete in a spirit of brotherhood, sharing their experiences and showcasing their resilience, determination and courage. 

    Adaptative sports come with a unique set of rules and categories based on competitors’ health, where Atos’ experience and advanced sports technologies play a crucial role. These solutions significantly enhance the readiness and deployment capabilities, ensuring a seamless experience for athletes and organizers.

    Atos relied on the unparalleled expertise of its 25 on-site professionals and 10 remote technicians from its Sport Technology Center of Excellence in Spain to ensure operational excellence throughout the 8 days of competition. More than 110 computers were deployed across various sports disciplines, in addition to providing over 300 TV graphics for the live broadcast of the event. One of the highlights of Atos’s collaboration at the Invictus Games was the implementation of a remote On-Venue Result system (OVR) for certain sports, including Wheelchair Basketball, Sitting Volleyball, Wheelchair Rugby, and Indoor Rowing. Atos experts perfectly managed, deployed, and monitored the entire spectrum of the Games’ technology, ensuring that all services run smoothly and efficiently during the entire competition.

    “We believe this event beautifully showcases the spirit of sportsmanship and the incredible resilience of the competitors” said Nacho Moros, Head of Major Events, Atos. “We are proud that our cutting-edge technology and all the experience we accumulated in supporting the largest sport events worldwide in the past decades created an amazing experience for the Invictus Games 2025 competitors and fans alike. We are looking forward to pursuing this journey, and keeping integrating new, exciting features in future editions.”

    Atos has been serving its partners and customers through a dedicated in-house sports and major events division (“Major Events”) for over 30 years, giving it an unmatched experience and the flexibility to serve its customers regardless of their exposure, size and scale. From global events to local competitions such as the next 2025 European Youth Olympic Winter Festival to be held in Bakuriani (Georgia), Atos consistently strives to deliver technology excellence to its entire customer base. 

    Atos has been involved with the Olympic Movement since 1992 and the Paralympic Movement since 2002 and is the Official Digital Technology Partner of the European Olympic Committee 2027 edition of the European Games, as well as the official Digital partner for Special Olympics International. In addition, the company is also the Official Information Technology Partner of UEFA National Team Football. Most recently, Atos has been instrumental in delivering successful leading-edge IT services for iconic events such as UEFA EURO 2024™ in Germany and the Olympic and Paralympic Games Paris 2024. 

    To learn more about Atos solutions for sporting events and major events, visit Atos major events. 

    ***

    About Invictus Games Vancouver Whistler 2025

    The Invictus Games Vancouver Whistler 2025, presented by ATCO and Boeing, is an international sporting competition for wounded, injured, and sick service members and Veterans. From February 8-16, 2025, the seventh Invictus Games brought together up to 550 competitors from up to 25 nations in 11 adaptive sports in the natural beauty of British Columbia, Canada. Invictus means unconquered and the Games celebrate courage, resiliency and the strength of the human spirit. Through the power of sport, the Games will inspire recovery, support rehabilitation, and generate a wider understanding and respect for those who have served their country.   

    The Invictus Games Vancouver Whistler 2025 were held on the traditional territories of the Lil̓wat7úl (Líl̓wat), xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish) and səlilwətaɬ (Tsleil-Waututh) Nations. True Patriot Love Foundation, the Government of Canada, and the Province of British Columbia are the valued Founding Partners of the Invictus Games Vancouver Whistler 2025.   

    Visit invictusgames2025.ca for the latest updates, supporting materials and full Games details. 

    About Atos

    Atos is a global leader in digital transformation with c. 82,000 employees and annual revenue of c. € 10 billion. European number one in cybersecurity, cloud and high-performance computing, the Group provides tailored end-to-end solutions for all industries in 69 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos is a SE (Societas Europaea) and listed on Euronext Paris.

    The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

    Press contact

    Laurent Massicot | laurent.massicot@atos.net | +33 (0)7 69 48 01 80

    Attachment

    The MIL Network –

  • MIL-OSI: Rumble and TRUTH Social Sue Brazilian Judge Over Censorship Orders Targeting U.S. Users

    Source: GlobeNewswire (MIL-OSI)

    LONGBOAT KEY, Fla, Feb. 19, 2025 (GLOBE NEWSWIRE) —   Rumble (NASDAQ:RUM), the video-sharing platform and cloud services provider, today announced that it has filed a lawsuit along with the Trump Media & Technology Group (TMTG—owners of TRUTH Social) against Brazilian Supreme Court Justice Alexandre de Moraes, alleging that Moraes violated the free speech protections of the First Amendment when he ordered the suspension of the U.S.-based accounts of a specific well-known, politically outspoken user. Rumble and TMTG filed the suit in the U.S. District Court for the Middle District of Florida and seek a declaration that de Moraes’ orders are unenforceable in the United States. Neither Rumble nor TMTG have any entities, operations, employees, bank accounts, or businesses in Brazil.

    “Allowing Justice Moraes to muzzle a vocal user on an American digital outlet would jeopardize our country’s bedrock commitment to open and robust debate,” the lawsuit reads. “Neither extraterritorial dictates nor judicial overreach from abroad can override the freedoms protected by the U.S. Constitution and law.”

    Rumble and TMTG claim that not only do Moraes’ orders violate U.S. public policy by undermining America’s basic principle of free speech, but they also violate U.S. sovereignty by asserting that a Brazilian court can exercise jurisdiction over an American company engaged in U.S.-based activity without the consent of the U.S. government.

    The Rumble user Moraes targeted with his gag order was identified in the complaint as Political Dissident A, a former priest and independent journalist who fled Brazil for the United States in 2021 after he was charged with various crimes for the simple act of giving voice to information that Moraes found upsetting and labeled “disinformation.” The justice also issued an order for the political dissident’s detention and attempted, unsuccessfully, to have him extradited to Brazil for trial for his alleged speech crimes.

    “This case is a landmark battle for free speech in the digital age,” said Rumble CEO Chris Pavlovski. “In March 2024, the U.S. government formally rejected Brazil’s request to extradite the political dissident, ruling that the charges were nothing more than ‘crimes of opinion’ and violated fundamental free speech protections. This should have ended Moraes’ pursuit of the political dissident. Instead, he is now attempting to sidestep the U.S. legal system entirely—using secret censorship orders to pressure American companies into banning the political dissident worldwide.”

    “The United States has established legal processes for recognizing and enforcing foreign court orders, including Brazil, but those processes require review and approval by U.S. authorities,” said Rumble’s attorneys E. Martin De Luca & Matthew L. Schwartz of Boies Schiller Flexner LLP.  “Alexandre de Moraes is attempting to sidestep U.S. law entirely. Rumble and Trump Media’s lawsuit seeks the protection of a U.S. federal court to ensure that American businesses remain governed by American law and that no foreign court can unilaterally dictate what speech is allowed on American platforms without proper authorization from the U.S. government.”

    Justice Moraes has a troubling history of unlawful, authoritarian censorship of online platforms, including Rumble, which permit free speech on topics that do not meet his personal approval. In December 2023, he demanded that Rumble remove content from a certain creator on the platform. Rather than comply with this unlawful attack on free expression, Pavlovski elected to disable all access to the platform from within Brazil in protest.

    Earlier this month, Justice Moraes abruptly rescinded its censorship order and Rumble restored access to the people of that country. But within days, Moraes became dissatisfied with Political Dissident A content and demanded that the dissident’s account be suspended or else.

    After the U.S. rejected his extradition request of Political Dissident A, Moraes sought to enforce his orders by requiring Brazilian lawyers previously affiliated with Rumble to facilitate service of his censorship directives. The lawsuit contends that this constitutes an improper attempt to manufacture jurisdiction over a U.S.-based company.

    Pavlovski has publicly decried Moraes’ heavy-handed censorship tactics before, including as a witness before the Global Human Rights Subcommittee of the U.S. House of Representatives Committee on Foreign Affairs.

    “We received requests from the Brazilian government to remove certain creators from our platform. The content did not violate our terms and conditions, but instead shared opinions that were ‘unpopular’ in Brazil at the time,” Pavlovski testified. “Every totalitarian regime that has crushed the rights of individuals, has sought to control what people can say and hear. It’s never the good guys doing the censoring.”

    This case has broad implications for free speech and the jurisdictional limits of foreign courts. If foreign judges can extend their censorship rulings to U.S. companies, it raises serious concerns about international legal overreach and the application of First Amendment protections. The lawsuit seeks to ensure that U.S. companies remain governed by U.S. law and constitutional standards.

    TMTG is a plaintiff in the suit because it relies on Rumble’s back-end services for TRUTH Social, including cloud hosting and video streaming. These extraterritorial demands threaten to erase lawful American speech and disrupt TRUTH Social’s core functionality within the United States. 

    ABOUT RUMBLE

    Rumble is a high-growth video platform and cloud services provider, founded in 2013 by entrepreneur Chris Pavlovski, which is creating an independent infrastructure intended to make it impervious to cancellation or censorship by Big Tech. In the most recent numbers publicly available, Rumble, which went public in September 2022, reported 67 million Monthly Active Users in the 3rd Quarter of 2024, up from 53 million the previous quarter, or an increase of 26%.

    On Election Night 2024, concurrent viewers peaked at a record of nearly 1.8 million, according to StreamCharts. Following the election, the Rumble app reached #3 in the Apple App Store in the Photo & Video category, ahead of YouTube. Rumble’s mission is to restore the internet to its roots by making it free and open once again.

    For more information, visit: corp.rumble.com.

    Contact: press@rumble.com 

    The MIL Network –

  • MIL-OSI: Data443 Partners with TierPoint to Expand Data Center Footprint

    Source: GlobeNewswire (MIL-OSI)

    Collaboration Triples Infrastructure Capacity to Support Rapid Customer Growth and AI Initiatives

    RESEARCH TRIANGLE PARK, N.C., Feb. 19, 2025 (GLOBE NEWSWIRE) — Data443 Risk Mitigation, Inc. (OTCPK: ATDS) (“Data443” or the “Company”), a data security and privacy software company for “All Things Data Security,” today announced a strategic agreement with TierPoint, a premier provider of secure, connected data center and cloud solutions. This agreement will enable Data443 to triple its data center infrastructure capacity, supporting the company’s rapid customer growth, operational efficiency initiatives, and upcoming artificial intelligence programs.

    Through this collaboration, Data443 will leverage TierPoint’s state-of-the-art facilities to enhance its infrastructure capabilities while optimizing operational expenses. The expansion addresses increasing customer demand for Data443’s comprehensive suite of data security, privacy, and compliance solutions.

    Jason Remillard, Founder and CEO of Data443 commented: “Our partnership with TierPoint came together out of necessity in tripling our data center capacity to meeting the current demands of our growing customer base. Working with TierPoint positions us for future expansion, particularly in the realm of AI-driven security solutions. TierPoint’s robust infrastructure and proven track record make them the ideal partner for these initiatives.”

    “Our support for Data443 highlights TierPoint’s ability to deliver scalable and reliable data center solutions,” said Gus Hoover, Director Data Center Operations at TierPoint. “By scaling quickly to support Data443’s growth and leveraging redundant infrastructure, we’re providing a cutting-edge solution tailored to their needs.”

    The expanded infrastructure will support Data443’s continued innovation in data security and privacy solutions and is expected to generate substantial operational cost savings through improved efficiency and economies of scale.

    The collaboration delivers multiple strategic advantages that will strengthen Data443’s market position and operational capabilities. The immediate tripling of data center capacity will accommodate the company’s rapid customer growth, while enhanced infrastructure capabilities will power next-generation AI initiatives. Additionally, the expanded infrastructure will enable accelerated deployment of new services and solutions, allowing Data443 to respond more quickly to evolving market demands.

    Recently the company announced its acquisition of leading AI email managment provider Breezemail.ai as it continues innovation in the data security realms.

    About TierPoint

    TierPoint (tierpoint.com) is a leading provider of secure, connected IT platform solutions that power the digital transformation of thousands of clients, from the public to private sectors, from small businesses to Fortune 500 enterprises. Taking an agnostic approach to helping clients achieve their most pressing business objectives, TierPoint is a champion for untangling the complexity of hybrid, multi-platform approaches to IT infrastructure, drawing on a comprehensive portfolio of services, from public to multitenant and private cloud, from colocation to disaster recovery, security, and more. TierPoint also has one of the largest and most geographically diversified U.S. footprints, with dozens of world-class, cloud-ready data centers in 20 markets, connected by a coast-to-coast network.

    About Data443 Risk Mitigation, Inc.

    Data443 Risk Mitigation, Inc. (OTCPK: ATDS) provides software and services to enable secure data across devices and databases, at rest and in flight/in transit, locally, on a network or in the cloud. We are All Things Data Security™. With over 10,000 customers in over 100 countries, Data443 provides a modern approach to data governance and security by identifying and protecting all sensitive data regardless of location, platform or format. Data443’s framework helps customers prioritize risk, identify security gaps and implement effective data protection and privacy management strategies. For more information, visit: https://data443.com.

    Forward-Looking Statements 

    This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by use of terms such as “expect,” “believe,” “anticipate,” “may,” “could,” “will,” “should,” “plan,” “project,” “intend,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue” or the negative of these words or other comparable terminology. Statements in this press release that are not historical statements, including statements regarding Data443’s plans, objectives, future opportunities for Data443’s services, future financial performance and operating results, and any other statements regarding Data443’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance, or regarding the anticipated consummation of any transaction, are forward-looking statements. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties and assumptions, many of which are difficult to predict or are beyond Data443’s control. These risks, uncertainties and assumptions could cause actual results to differ materially from the results expressed or implied by the statements. They may relate to the outcome of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; inability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and integration of acquisitions; product liability; cybersecurity risk; anti-takeover measures in the Company’s charter documents; and the uncertainties created by global health issues, such as the ongoing outbreak of COVID, and political unrest and conflict, such as the invasion of Ukraine by Russia. These and other important risk factors are described more fully in the Company’s reports and other documents filed with the Securities and Exchange Commission (“the SEC”), including in Part I, Item 1A of the Company’s Annual Report on Form 10-K filed with the SEC on April 17, 2024, and subsequent filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to the Company on the date hereof. Except as otherwise required by applicable law, Data443 undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.

    “DATA443” is a registered trademark of Data443 Risk Mitigation, Inc.

    All product names, trademarks and registered trademarks are property of their respective owners. All company, product and service names used in this press release are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.

    For further information:
    Follow us on LinkedIn: https://www.linkedin.com/company/data443-risk-mitigation-inc/
    Follow us on YouTube: https://www.youtube.com/channel/UCZXDhJcx-XgMBhvE9aFHRdA
    Sign up for our Investor Newsletter: https://data443.com/investor-email-alerts/

    To learn more about Data443, please watch the Company’s video introduction on its YouTube channel: https://youtu.be/1Fp93jOxFSg

    Investor Relations Contact:
    Matthew Abenante
    ir@data443.com
    919.858.6542

    The MIL Network –

  • MIL-OSI: Form 8.3 – [LEARNING TECHNOLOGIES GROUP PLC – 18 02 2025] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 LEARNING TECHNOLOGIES GROUP PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 18 FEBRUARY 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 0.375p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 9,156,276 1.1554    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 9,156,276 1.1554    

    NOTE: On 18/02/2025 there was a transfer in of 6,421 shares by a discretionary client.

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    0.375p ORDINARY SALE 174,151 99.153p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 19 FEBRUARY 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: Progressive Reports January 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    MAYFIELD VILLAGE, OHIO, Feb. 19, 2025 (GLOBE NEWSWIRE) — The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended January 31, 2025:

      January
    (millions, except per share amounts and ratios; unaudited)  2025    2024   Change
    Net premiums written $ 6,481   $ 5,496   18   %
    Net premiums earned $ 6,586   $ 5,386   22   %
    Net income $ 1,117   $ 701   59   %
    Per share available to common shareholders $ 1.90   $ 1.18   61   %
    Total pretax net realized gains (losses) on securities $ 109   $ 17   NM    
    Combined ratio   84.1     87.3   (3.2 ) pts.
    Average diluted equivalent common shares   587.7     587.3   0   %
    NM = Not Meaningful                  
      January 31,
    (thousands; unaudited) 2025   2024   % Change
    Policies in Force          
    Personal Lines          
    Agency – auto 9,882   8,393   18
    Direct – auto 14,224   11,350   25
    Special lines 6,540   5,984   9
    Property 3,535   3,128   13
    Total Personal Lines 34,181   28,855   18
    Commercial Lines 1,146   1,096   5
    Companywide 35,327   29,951   18
               
               

    See Progressive’s complete monthly earnings release for additional information.

    About Progressive

    Progressive Insurance® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it’s most convenient for them — online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.

    Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers. 

    Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and HomeQuote Explorer®.

    The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.

    Company Contact:
    Douglas S. Constantine
    (440) 395-3707
    investor_relations@progressive.com
     
    The Progressive Corporation
    300 North Commons Blvd.
    Mayfield Village, Ohio  44143
    http://www.progressive.com

    Download PDF: Progressive January 2025 Complete Earnings Release

    The MIL Network –

  • MIL-OSI Economics: ADB Supports Digital Transformation of Uzbekistan’s Water Sector

    Source: Asia Development Bank

    MANILA, PHILIPPINES (19 February 2025) — The Asian Development Bank (ADB) approved a $125 million loan to support the Government of Uzbekistan in modernizing water management, improving water security, and increasing access to safe and reliable water in the country. 

    The Climate-Smart Water Management Improvement Project will improve asset management and sustainability of service delivery, while strengthening the institutional capacity of the country’s national water utility. This will help decision making and enhance water management and energy-use efficiency, contributing to climate change mitigation efforts.

    “Uzbekistan’s water resources are under acute threat from climate change and inefficient usage,” said ADB Country Director for Uzbekistan Kanokpan Lao-Araya. “ADB’s project introduces smart water management systems to improve water usage, reduce energy consumption, and increase operational efficiency to lower Uzbekistan’s carbon footprint.” 

    The project will support the Joint Stock Company Uzsuvtaminot (the national water utility) and its regional branches in completing the installation of an ongoing nationwide bulk flow metering and telemetry system on the main water resource’s locations. The project will also carry out an asset inventory and prepare onsite geographic mapping for all existing water supply and wastewater infrastructure, including about 4 million customer connections. 

    An integrated package of climate-smart, IT-based utility management systems will be launched, including relevant training for the national water utility staff. The project will also improve customer centers by providing new financial management software that will lead to transparent financial statements based on international standards. 

    The project will promote transformative digital solutions and technologies to decrease operational expenditure, increase workforce efficiency, and enhance customer engagement and satisfaction.

    This year marks the 30th anniversary of the partnership between ADB and the Republic of Uzbekistan. Since the Republic of Uzbekistan joined ADB in 1995, the bank has committed public sector loans, grants, and technical assistance totaling $14.3 billion to the country.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

    MIL OSI Economics –

  • MIL-OSI Video: Establishment of the U.S. Army

    Source: US Army (video statements)

    : AEMO

    About the U.S. Army:

    The Army Mission – our purpose – remains constant: To deploy, fight and win our nation’s wars by providing ready, prompt & sustained land dominance by Army forces across the full spectrum of conflict as part of the joint force.

    Interested in joining the U.S. Army?
    Visit: spr.ly/6001igl5L

    Connect with the U.S. Army online:
    Web: https://www.army.mil

    Facebook: https://www.facebook.com/USarmy/
    X: https://www.twitter.com/USArmy
    Instagram: https://www.instagram.com/usarmy/
    LinkedIn: https://www.linkedin.com/company/us-army
    #USArmy #Soldiers #Military #ThisWellDefend #Army250

    https://www.youtube.com/watch?v=hzT-3mu_d04

    MIL OSI Video –

  • MIL-OSI Video: How Pasta Revived an Abandoned Land—with EU Support

    Source: European Commission (video statements)

    For over 50 years, a visionary family has transformed an abandoned monastery into a thriving organic farm and pasta producer. With the support of the European Union, this small initiative grew into Italy’s first fully fair-trade food supply chain, setting an example for sustainable and competitive food production across Europe.

    This family embraced environmentally friendly practices long before organic farming became a trend, proving that sustainable agriculture is the future. Their journey—from ruined land to an award-winning European producer—highlights the power of innovation, resilience, and EU-backed investments.

    The European Commission is committed to ensuring a strong, sustainable, and competitive agri-food sector. Its policies will cover:
    – Building an attractive agri-food sector;
    – Fostering a competitive and resilient sector;
    – Providing the conditions for a future-proof sector;
    – Focusing on food, fair living and working conditions in rural areas;
    For more information on the contents of these pillars, follow this link: https://europa.eu/!Qnw393

    Thanks to EU funding, this pioneering company completed its supply chain—from cultivation to final product—and received the EU Organic Award for excellence in food processing. This story is not just about pasta; it’s about redefining the future of food.

    #EUAgriculture

    Watch on the Audiovisual Portal of the European Commission: https://audiovisual.ec.europa.eu/en/video/I-267965
    Follow us on:
    -X: https://twitter.com/EU_Commission
    -Instagram: https://www.instagram.com/europeancommission/
    -Facebook: https://www.facebook.com/EuropeanCommission
    -LinkedIn: https://www.linkedin.com/company/european-commission/
    -Medium: https://medium.com/@EuropeanCommission

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

    https://www.youtube.com/watch?v=XXbTJ5nk2n4

    MIL OSI Video –

  • MIL-OSI Global: Trump’s effect on critical minerals could be crucial for the future of green energy

    Source: The Conversation – UK – By Jorge Valverde, PhD Fellow, Maastricht Economic and Social Research Institute on Innovation and Technology (UNU-MERIT), United Nations University

    Nickel laterite in an open pit mine. Nickel is one of the critical minerals

    There’s a chance Donald Trump’s second term as US president could have a long-term negative impact on the demand for and supply of what are known as critical minerals. These include copper, lithium, nickel, cobalt and the “rare earth elements”, such as lanthanum and yttrium.

    They are vital for the green energy transition, being used in electric car batteries, solar panels and wind turbines. Trump’s decision to pull out of the UN’s Paris agreement to control global warming has led to some pessimistic perspectives on this policy’s impacts.

    If Trump’s move towards oil and gas is interpreted by the markets as permanent, the price incentive for new mining projects for critical minerals will fall, along with long-term supply. This could potentially threaten the green energy transition.

    However, there are reasons to doubt this pessimistic scenario. Contrary to this, we believe that the new US administration policy is just a temporary shock without a significant change to the world’s energy transition trajectory. Therefore, critical mineral markets will remain buoyant in the medium and long term. This position is based on three main arguments.

    1. The US holds a competitive position in critical mineral markets

    There’s a generalised perception that the US depends on importing critical minerals from other countries, such as China. This is true for a handful, but, overall, America is one of the most competitive countries in producing the minerals needed for green technology.

    Indeed, the US has a revealed comparative advantage in exporting a wide variety of minerals and, among them, the most critical ones.

    Supplies of germanium are tightly controlled by China.
    RHJPhtotos

    Therefore, it will be in the US’s interests to keep the lucrative critical mineral markets dynamic. Even if the US reduces its sustainability ambitions, slowing its demand for new clean technologies, it is likely to do it carefully, so as not to harm its own industries.

    Indeed, we expect the US to increase its interest in developing processing industries to recover some minerals from electronic waste or intermediate stages in some manufacturing processes. These include germanium and gallium, which are tightly controlled by China (their biggest producer) but which are vital for computer chips and renewable energy technology, as well as night-vision goggles.

    2. The US produces and uses only a small share of clean technologies

    China and Europe drive these markets. The US does not drive either the demand or the supply for new clean technologies. On the demand side, the US only represents 10% of world electric car sales, while China and Europe account for 66% and 20% of the market respectively.

    China represents over 43% of installed solar energy capacity.
    Wang An Qi Shutterstock

    Similarly, for the world installed solar energy capacity, China represents over 43% of the market, Europe 20%, and the US only 10%. On the supply side, the US produces around 15% of the world’s electric cars, while China represents more than 50% of the market.

    For other clean technologies, statistics are similar with a remarkable leadership of China in the production of solar panels and wind turbines.

    So the policies followed by China and Europe are likely to have a much larger impact on the energy transition than the US’s. In the likely event that these countries continue pushing forward the green transition, the cost of slowing its technological catch up for the US will be too high.

    Moreover, oil producer countries of the Middle East are heavily betting for new clean technologies, which could offset the lower appetite for green assets from the US. So regardless of what Trump’s administration will decide on this matter, its influence on the market for clean technologies will be limited.

    3. New tariffs could further increase some minerals’ criticality

    Import tariffs imposed by Trump’s first administration to promote local production damaged US exports of those industries using imported intermediate, or partly finished, goods. In other words, international trade along global value chains has modified the textbook dynamics of protectionism, and exports are hindered – and not fostered – by import protection.

    President Trump plans to impose 25% new tariffs on imports from Canada and Mexico. This could increase the criticality of some minerals for the US. For example, nickel and aluminium could become even more critical to the US economy because Canada supplies almost 40% of the nickel employed by US industry, and 70% of the aluminium.

    As a consequence, new tariffs could indeed increase the criticality of some minerals. Indeed, this was probably in some way behind the decisions to postpone the tariff increases and to only impose them on selected products.

    The energy policies of the new American administration will have ripple effects. But these are likely to be temporary and the market in critical minerals is unlikely to be affected long term. The global transition to clean energy seems safe, for now.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Trump’s effect on critical minerals could be crucial for the future of green energy – https://theconversation.com/trumps-effect-on-critical-minerals-could-be-crucial-for-the-future-of-green-energy-249058

    MIL OSI – Global Reports –

  • MIL-OSI Global: Brutalism: Oscar-nominated film has revived interest in a controversial architectural legacy

    Source: The Conversation – UK – By Gleb Redko, PhD Researcher in Punk, Brutalism & Psychogeography, School of Architecture Art & Design, University of Portsmouth

    With ten Oscar nominations, The Brutalist has reignited the debate over the legacy of brutalism. The polarising architectural style was shaped by post-war hopes for a better future. But it was also, as historian Adrian Forty argues in his book Concrete and Culture (2012), an “expression of melancholy, the work of a civilisation that had all but destroyed itself in the second world war”.

    The fictional architect at centre of The Brutalist, László Tóth, is an Austro-Hungarian modernist and concentration-camp survivor who moves to America to rebuild his life. His designs, described as “machines”, are inspired by the trauma of camps like Buchenwald and Dachau.

    Emerging from the rubble of the second world war, brutalism became an architectural response to devastation and the pressing need for urban renewal. The destruction caused by the Blitz provided architects with opportunities to design environments reflecting the ideals of the new welfare state: equality, accessibility and functionality for the collective good.

    Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

    This ethical foundation aimed to address the social needs of the post-war era, particularly in housing, education and public welfare infrastructure. Notable examples of the style include the Barbican estate and Southbank Centre in London.

    Architectural critic Reyner Banham, who coined the term brutalism in his 1966 work Brutalism: Ethic or Aesthetic, argued that the movement was more than an aesthetic choice. He championed the work of Alison and Peter Smithson, young British architects who played a crucial role in shaping brutalism through projects like Robin Hood Gardens in London’s Tower Hamlets. For Banham, brutalism was an ethical stance and a form of “radical philosophy” aiming to address the social needs of the post-war era.

    The brutalist style has, however, often been criticsed for what many perceived to be its unappealing, “ugly” aesthetic and alienating qualities. In 1988, King Charles famously compared the National Theatre in London to a nuclear plant, encapsulating the public’s mixed reactions. Similarly the situationists (a French anti-capitalist art movement) denounced brutalist housing estates as “machines for living”. They saw them as oppressive structures that stifled human connection.

    The perception of brutalism is highly dependent on context. In warmer climates like Marseille in France, the play of sunlight on raw concrete gave structures a sculptural quality. In the UK’s wet climate, however, exposed concrete weathered quickly, making buildings appear grey and neglected.

    Yet for brutalist architects, this was never just about aesthetics. They saw their designs as expressions of honesty and social progress, rejecting ornamentation in favour of raw, functional materials that symbolised a new egalitarian society. The very qualities that critics saw as oppressive were, to its proponents, what made brutalism a radical and hopeful architecture.

    Rebellion and reclamation

    Despite their ethical intentions, brutalist buildings often appeared to have an alienating impact on their residents. In his book Making Dystopia (2018), architectural historian James Stevens Curl discusses the Canada Estate in Bermondsey, London, built in 1964, where tenants expressed their disaffection for the environment through acts of vandalism.

    By the 1970s, the optimism surrounding modernist and brutalist projects had begun to collapse, both figuratively and literally. One of the most infamous moments symbolising this failure was the Ronan Point disaster in 1968. A gas explosion on the 18th floor of this newly built tower block in east London caused a partial collapse. Four people were killed and serious concerns were raised about the safety and quality of post-war high-rise housing.

    This tragedy pushed the Clash’s Joe Strummer to write one of the band’s most notable songs, London’s Burning, in 1976. In the late 1970s and 1980s, punks splattered brutalist architecture with graffiti slogans echoing situationist critiques of modern urban life.

    Some referenced punk band names or song lyrics, showing how punk didn’t just adopt the attitude of the situationists but also their language and tactics. Jamie Reid, the architect of the Sex Pistols’ aesthetic, often used images of brutalist structures as a stark backdrop to his punk visuals.

    The punk movement reinterpreted the failure of brutalism not just as an architectural problem but as a broader societal collapse, highlighting issues of alienation, neglect and the erosion of post-war utopian ideals.



    Read more:
    Jamie Reid: the defiant punk art of the man behind the Sex Pistols’ iconic imagery

    Yet, in recent years, the brutalist aesthetic has found a new audience. Online communities, such as Reddit’s 1.5 million-member r/EvilBuildings reflect on buildings and surroundings captured by community members and the impressions these structures leave. Brutalist buildings frequently top the list.

    This renewed interest highlights the complex legacy of a style that was once widely criticised but continues to captivate a broader audience beyond architects.

    Brutalism’s dual legacy, a movement intended to create community but often seen as alienating, continues to shape debates in architecture and urban planning. The controversial nature of this style is evident in the demolition of prominent structures like the Smithsons’ Robin Hood Gardens (2018), the Tricorn Centre in Portsmouth (2004), and the currently ongoing demolition of Cumbernauld town centre in central Scotland.

    These demolitions highlight both brutalism’s polarised reception and the public reassessment of its value. These spaces are more than just concrete. They are sites of memory, rebellion, and ongoing cultural significance, continuously shaping and being shaped by the society around them.

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

    – ref. Brutalism: Oscar-nominated film has revived interest in a controversial architectural legacy – https://theconversation.com/brutalism-oscar-nominated-film-has-revived-interest-in-a-controversial-architectural-legacy-249627

    MIL OSI – Global Reports –

  • MIL-OSI Asia-Pac: LCQ19: Attracting strategic enterprises in advanced manufacturing industries

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Yim Kong and a written reply by the Deputy Financial Secretary, Mr Michael Wong, in the Legislative Council today (February 19):Question:     The Office for Attracting Strategic Enterprises (OASES) commenced operation in December 2022, which was tasked with attracting industries of strategic importance to Hong Kong (including advanced manufacturing industries) to pursue development in Hong Kong. Some analyses have pointed out that investments in advanced manufacturing industries focus on technology and capital, and the number of jobs created is limited. There are also views that although automation and intelligentisation may reduce the number of jobs in traditional manufacturing industries, they also create jobs in technical maintenance, research and development as well as management. In this connection, will the Government inform this Council:(1) how it will assess the effectiveness of OASES’ work carried out in 2023 and last year;(2) whether it has compiled statistics on the investment amount and the numbers of employees hired by the enterprises related to advanced manufacturing industries; how the Government will assess the effectiveness of the policies implemented in 2023 and last year on attracting strategic enterprises in advanced manufacturing industries covering such aspects as taxation, financing and talents, so as to ensure that the objectives of attracting investments and creating employment opportunities can be achieved; and(3) whether it has assessed if the manpower trained by local universities caters for the needs of the future development of advanced manufacturing industries; whether the Government will, in attracting the strategic enterprises concerned, implement plans to support manpower training in the light of the development needs of the enterprises, such as setting up vocational training funds and encouraging enterprises to collaborate with universities and vocational training schools to offer training courses related to advanced manufacturing industries to nurture the required talents for the enterprises?Reply:President,     The Office for Attracting Strategic Enterprises (OASES) is dedicated to attracting enterprises from industries of strategic importance to Hong Kong. Its work includes identifying target strategic enterprises, understanding their needs and providing customised facilitation support and one-stop services to strategic enterprises that are establishing their presence in Hong Kong. My reply to the questions raised by the Hon Yim Kong is as follows:(1) Since its commencement of operation in December 2022, OASES has reached out proactively to high-potential and representative strategic enterprises from around the globe. Despite the complicated and ever-changing economic environment in recent years, substantive progress has been achieved by OASES over the past two years. So far, 66 strategic enterprises have been brought to Hong Kong, and they are from the four strategic industries, i.e. life and health technology, artificial intelligence and data science, financial technology and advanced manufacturing and new energy technology. Among them, around 80 per cent plan to establish their global or regional headquarters in Hong Kong. It is estimated that in the coming years, they will invest about $42 billion in total and create more than 17 000 jobs.     OASES also continues to follow up on the development and needs of strategic enterprises that have established their presence in Hong Kong. By assisting and accelerating the plans of strategic enterprises to use Hong Kong as their base to tap into the Mainland market or expand overseas, it would thereby speed up the diversification and transformation of Hong Kong’s industries. This would also further strengthen Hong Kong’s role as a “super connector” and “super value-adder”, and attract more overseas enterprises to use Hong Kong as a base to tap into the Mainland market, while supporting Mainland enterprises to “go global”.(2) Based on the information from OASES, amongst the 66 strategic enterprises that have established their presence in Hong Kong, 12 belong to the advanced manufacturing and new energy technology industry. They include companies with a market capitalisation/valuation of over $10 billion, and are engaging in cutting-edge technologies. The enterprises have either established or plan to establish research and development (R&D) centres and/or production bases in Hong Kong, while 75 per cent of them plan to establish international or regional headquarters in Hong Kong. OASES has closely followed up on the development and needs of these strategic enterprises, and provided them with customised facilitation support. For example, a series of matching activities with parties such as innovation and technology (I&T) parks, universities and research institutes, chambers of commerce and professional bodies were arranged to speed up their commencement of operation in Hong Kong. It is estimated that in the coming few years, the aforementioned advanced manufacturing enterprises alone will invest around $5.6 billion in Hong Kong and create more than 1 800 jobs. By establishing or expanding their operations in Hong Kong, these strategic enterprises from the advanced manufacturing sector will also attract upstream, midstream and downstream partners from their industry chains to come to Hong Kong. This would accelerate the development of the advanced manufacturing industry, and assist the upgrading and transformation of the traditional manufacturing industry, thereby building a more vibrant ecosystem for the industry and creating more high-quality job opportunities.     In fact, with a view to promoting the development of new industrialisation in Hong Kong, the Government has been using various measures to encourage the manufacturing industry (including the advanced manufacturing industry) to upgrade and transform through the use of I&T. The implementation of such measures is progressing as scheduled. On tax measures, the Government offers tax concessions to enterprises engaging in R&D activities in Hong Kong. The qualifying R&D expenditures of such enterprises enjoy an enhanced tax deduction, with the first $2 million of the total expenditure eligible for a 300 per cent tax deduction, and the amount beyond $2 million eligible for a 200 per cent deduction. There is no cap on the amount of enhanced tax deduction, and it applies to all eligible enterprises. The Inland Revenue Department is still processing the tax returns and assessments for the year of assessment 2023/24 and does not further classify the relevant statistics into traditional or advanced manufacturing mode in the assessment of profits tax so is unable to provide the relevant statistics.     The Government also provides funding support to further promote new industralisation. For instance, the New Industrialisation Funding Scheme (NIFS), aiming to subsidise manufacturers to set up new smart production lines in Hong Kong, targets to increase the cumulative number of smart production lines funded under the scheme to at least 130 in 2027. As at January 2025, 63 applications have been supported by the NIFS Vetting Committee (Vetting Committee), involving more than 100 production lines in total. The progress is satisfactory. Besides, the $10 billion New Industrialisation Acceleration Scheme (NIAS) was set up by the Government in September 2024 to provide funding support on a matching basis for enterprises in strategic industries including advanced manufacturing and new energy technology. The first project under NIAS was supported by the Vetting Committee in early 2025, with the total project cost estimated at around $600 million and the expected NIAS funding amount at around $200 million. With enterprises actively participating in the two funding schemes, the Government is glad to see that they are making use of I&T to achieve smart production so as to enhance competitiveness.     Meanwhile, the Government is increasing investment and guiding more market capital to invest in I&T industries. For instance, it was announced in the 2024 Policy Address to set up a $10 billion I&T Industry-Oriented Fund to create a fund-of-funds and channel more market capital to invest in specified emerging and future industries of strategic importance, including areas such as advanced manufacturing, so as to systematically build an I&T ecosystem. Furthermore, the Policy Address also announced the optimisation of the Innovation and Technology Venture Fund by redeploying at most $1.5 billion to set up funds jointly with the market, on a matching basis, to invest in start-ups of strategic industries including advanced manufacturing and new energy technology, thereby strengthening the Hong Kong I&T ecosystem.(3) Post-secondary institutions in Hong Kong can flexibly offer programmes that meet market needs and to engage with relevant industry stakeholders for timely adjustment of programme content to enhance the learning experience of students. The Education Bureau has also been supporting different policy bureaux/departments in policy areas related to manpower and training needs.     In order to nurture local talents, the New Industrialisation and Technology Training Programme was launched in August 2018. It subsidises local enterprises on a 2 (Government): 1 (enterprise) matching basis to train their staff in advanced technologies, especially training related to new industrialisation.     OASES has all along been promoting and encouraging strategic enterprises that have established their presence in Hong Kong to consider participating in the talent training programmes launched by the Government to support talent nurturing. Meanwhile, OASES has also been promoting and encouraging these enterprises to engage with universities and research institutes to discuss potential research collaborations and matters related to talent development, so that there would be more avenues to nurture talents to meet the needs of the enterprises.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ15: Hong Kong Common Law Practical Training Course

    Source: Hong Kong Government special administrative region

         Following is a question by Professor the Hon Priscilla Leung and a written reply by the Secretary for Justice, Mr Paul Lam, SC, in the Legislative Council today (February 19):
     
    Question:
     
         Regarding the Hong Kong Common Law Practical Training Course (Training Course) co-organised by the Hong Kong International Legal Talents Training Academy and the Supreme People’s Court, will the Government inform this Council:
     
    (1) how the Government assesses the actual effectiveness of the Training Course in promoting exchanges on the legal systems between Hong Kong and the Mainland, including whether there are any specific assessment indicators or supporting data;
     
    (2) of the specific feedback from the Mainland judges participating in the Training Course on the learning of Hong Kong’s common law system; whether the Government will collect and make public such feedback on a regular basis, so as to enhance the transparency of the Training Course; and
     
    (3) whether the Government will consider expanding the scope of the target participants of future legal talent training programmes to include judges or legal professionals from other regions; if so, whether it has assessed how such an approach will enhance the influence of Hong Kong’s legal system in the international community?

    Reply:
     
    President, 
     
         Concerning the question raised by Professor the Hon Priscilla Leung, our reply is as follows:
     
    (1) The Hong Kong Common Law Practical Training Course co-organised by the Hong Kong International Legal Talents Training Academy and the Supreme People’s Court was held in Hong Kong from January 6 to 17, 2025.
     
         25 judges from the Supreme People’s Court, the High People’s Court of Guangdong Province and courts of the nine Mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area participated in the two-week course, which was the inaugural programme of the Academy after its launch. Through lectures, dialogues and visits etc., the course provided Mainland judges with a comprehensive overview of the operation and practice of Hong Kong’s common law system, including topics such as contract law, company law, matrimonial and family law, civil and criminal procedures, arbitration and how courts in Hong Kong and the Mainland deal with foreign-related cases. Speakers (including judges and legal officers, and senior legal practitioners in Hong Kong and members of the Hong Kong International Legal Talents Training Expert Committee) had in-depth exchanges with Mainland judges on various topics.
     
         A number of dialogue sessions were organised, inviting speakers to communicate directly with participants on the same topic. For example, at the dialogue session entitled “Different Roles in Safeguarding the Rule of Law”, the Academy invited a Legislative Council member, representatives of the Department of Justice, the Hong Kong Bar Association and the Law Society of Hong Kong to engage in a dialogue on their role in safeguarding the rule of law, in which Mainland judges also had exchanges. At the dialogue session entitled “Handling of Foreign-related Law Proceedings: Comparison between Mainland and Hong Kong”, the Academy invited four senior legal practitioners to exchange views with Mainland judges on the similarities and differences in handling foreign-related cases. Through dialogue, mutual understanding and exchange between the two legal systems was promoted.
     
         Besides, at the end of the course, the Academy collected feedbacks from participants to assess the effectiveness of the course.
     
    (2) From the feedback forms, more than 95 per cent of Mainland judges indicated that the topics covered in the course were relevant to their work, contents were vivid and in-depth, speakers’ presentation were clear and detailed, and suggested that specialised training on individual topics could be organised in the future. During the graduation sharing, Mainland judges expressed the view that the course was informative, professional, persistent, progressive and productive, enabling them to gain a better understanding of the operation of the common law system in Hong Kong and its differences from those of the Mainland, as well as to strengthen their confidence in dealing with foreign-related cases, in particular those Hong Kong-related cases.
     
         The Academy will continue to collect comments on each training project and report to the Panel on Administration of Justice and Legal Services of the Legislative Council on a regular basis. At the same time, the Academy will improve and enhance its follow-up work based on the feedbacks.
     
    (3) In future, the Academy will collaborate with different institutions to conduct capacity-building projects for the Mainland, local and international legal professionals, for example, the Academy and the Ministry of Justice would jointly organise the National Training Course for Talents Handling Foreign-Related Arbitration (Hong Kong) in late-February this year, which will provide training to 80 corporate legal advisers, senior arbitrators, lawyers and arbitration practitioners handling foreign-related arbitration. In addition, the Academy will co-organise the Climate Change and International Trade Law Conference with the United Nations Commission on International Trade Law (UNCITRAL) on March 14 this year. The Academy will also provide training to Hong Kong’s local legal professionals in relation to the Mainland’s legal system and conduct capacity-building projects in co-operation with more international organisations. Through a series of training programmes, the Academy could, on the one hand, provide training for local, Mainland and regional legal professionals, and at the same time, enable Hong Kong to develop into a centre for legal capacity-building and to enhance the influence of Hong Kong’s common law system in the international community.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Result of tenders of RMB Sovereign Bonds held on February 19, 2025

    Source: Hong Kong Government special administrative region

    Result of tenders of RMB Sovereign Bonds held on February 19, 2025
    Result of tenders of RMB Sovereign Bonds held on February 19, 2025
    ******************************************************************

    The following is issued on behalf of the Hong Kong Monetary Authority:     Result of the tenders of RMB Sovereign Bonds held on February 19, 2025: 

    Tender Result

    *********************************************************************

    Tender Date
    :
    February 19, 2025

    Bonds available for Tender
    :
    2-year RMB Bonds

    Issuer
    :
    The Ministry of Finance of the People’s Republic of China

    Issue Number
    :
    BCMKFB25004

    Issue and Settlement Date
    :
    February 21, 2025

    Maturity Date
    :
    February 21, 2027 (or the closest coupon payment date)

    Application Amount
    :
    RMB 9,899 million

    Issue Amount
    :
    RMB 3,500 million

    Average accepted Coupon Rate
    :
    1.69 per cent

    Highest accepted Coupon Rate(Bonds’ Coupon)
    :
    1.75 per cent

    Lowest accepted Coupon Rate
    :
    1.55 per cent

    Allocation Ratio (At Highest accepted Coupon Rate)
    :
    Approximately 7.41 per cent

    Tender Result

    *********************************************************************

    Tender Date
    :
    February 19, 2025

    Bonds available for Tender
    :
    3-year RMB Bonds

    Issuer
    :
    The Ministry of Finance of the People’s Republic of China

    Issue Number
    :
    BCMKFB25005

    Issue and Settlement Date
    :
    February 21, 2025

    Maturity Date
    :
    February 21, 2028 (or the closest coupon payment date)

    Application Amount
    :
    RMB 8,249 million

    Issue Amount
    :
    RMB 3,000 million

    Average accepted Coupon Rate
    :
    1.71 per cent

    Highest accepted Coupon Rate(Bonds’ Coupon)
    :
    1.80 per cent

    Lowest accepted Coupon Rate
    :
    1.60 per cent

    Allocation Ratio (At Highest accepted Coupon Rate)
    :
    Approximately 2.28 per cent

    Tender Result

    *********************************************************************

    Tender Date
    :
    February 19, 2025

    Bonds available for Tender
    :
    5-year RMB Bonds

    Issuer
    :
    The Ministry of Finance of the People’s Republic of China

    Issue Number
    :
    BCMKFB25006

    Issue and Settlement Date
    :
    February 21, 2025

    Maturity Date
    :
    February 21, 2030 (or the closest coupon payment date)

    Application Amount
    :
    RMB 8,055 million

    Issue Amount
    :
    RMB 3,000 million

    Average accepted Coupon Rate
    :
    1.81 per cent

    Highest accepted Coupon Rate(Bonds’ Coupon)
    :
    1.88 per cent

    Lowest accepted Coupon Rate
    :
    1.70 per cent

    Allocation Ratio (At Highest accepted Coupon Rate)
    :
    Approximately 22.94 per cent

    Tender Result

    *********************************************************************

    Tender Date
    :
    February 19, 2025

    Bonds available for Tender
    :
    10-year RMB Bonds

    Issuer
    :
    The Ministry of Finance of the People’s Republic of China

    Issue Number
    :
    BCMKFB25007

    Issue and Settlement Date
    :
    February 21, 2025

    Maturity Date
    :
    February 21, 2035 (or the closest coupon payment date)

    Application Amount
    :
    RMB 6,185 million

    Issue Amount
    :
    RMB 2,000 million

    Average accepted Coupon Rate
    :
    2.00 per cent

    Highest accepted Coupon Rate(Bonds’ Coupon)
    :
    2.08 per cent

    Lowest accepted Coupon Rate
    :
    1.85 per cent

    Allocation Ratio (At Highest accepted Coupon Rate)
    :
    Approximately 2.50 per cent

    Tender Result

    *********************************************************************

    Tender Date
    :
    February 19, 2025

    Bonds available for Tender
    :
    30-year RMB Bonds

    Issuer
    :
    The Ministry of Finance of the People’s Republic of China

    Issue Number
    :
    BCMKFB25008

    Issue and Settlement Date
    :
    February 21, 2025

    Maturity Date
    :
    February 21, 2055 (or the closest coupon payment date)

    Application Amount
    :
    RMB 3,336 million

    Issue Amount
    :
    RMB 1,000 million

    Average accepted Coupon Rate
    :
    2.27 per cent

    Highest accepted Coupon Rate(Bonds’ Coupon)
    :
    2.37 per cent

    Lowest accepted Coupon Rate
    :
    2.00 per cent

    Allocation Ratio (At Highest accepted Coupon Rate)
    :
    Approximately 52.14 per cent

     
    Ends/Wednesday, February 19, 2025Issued at HKT 12:55

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Speech by FS at Consensus Hong Kong 2025 (English only)

    Source: Hong Kong Government special administrative region

    Speech by FS at Consensus Hong Kong 2025 (English only)
    Speech by FS at Consensus Hong Kong 2025 (English only)
    *******************************************************

         Following is the speech by the Financial Secretary, Mr Paul Chan, at Consensus Hong Kong 2025 today (February 19): Michael (Chairman of Consensus Hong Kong, Mr Michael Lau), Sara (Chief Executive Officer of CoinDesk, Ms Sara Stratoberdha), distinguished guests, industry leaders and innovators, friends from around the world,      It is my pleasure to be here at Consensus Hong Kong 2025. Let me begin by expressing my heartfelt gratitude to CoinDesk for choosing Hong Kong as the first Asian city for hosting this iconic conference. Your decision underscores Hong Kong’s growing prominence as a global hub for Web3 and crypto innovation. This event also reflects our commitment to building a thriving digital asset ecosystem.  Vast potential of Web3 and AI      Consensus 2025 is a congregation of Web3 talent from around the world, and its agenda reflects the most pressing topics and trends in the Web3 space today. From the convergence of AI and blockchain to the tokenisation of real-world assets (RWA), crypto and consumers, and DeFi 2.0 (decentralised finance), the discussions here are set to shape the future landscape of digital finance and the digital economy.      One of the most exciting developments is, of course, the intersection of AI and blockchain, where “dencetralised AI” can unlock many new applications and opportunities. For example, AI can assist blockchain platforms in performing more accurate credit assessments, improving smart contract audits, providing tailored investment advice, and more.      Globally, the application of Web3 in finance is gaining traction. Blockchain innovations not just reduce transaction costs but also enhance market transparency, and the efficiency and accessibility of financial services. Indeed, we are seeing more institutional adoption where traditional banks, asset managers and brokers increasingly integrate digital assets into their offerings. The benefits are clear. The World Economic Forum, for example, estimates that financial institutions could free up some US$100 billion per year by leveraging distributed ledger technology for collateral management.      Hong Kong, with its advanced financial infrastructure and robust regulatory environment, is at the forefront of this transformation. Hong Kong has already made history by issuing the world’s first tokenised government green bonds in 2023, followed by a groundbreaking multi-currency issuance in 2024.       Beyond finance, Web3 plus AI innovations are inspiring a host of applications in the real economy. From streamlining supply chain management to enhancing game players’ experience; and from improving healthcare management to making agricultural and industrial production more intelligent, they are empowering and transforming business operations and public services.        Rapid tech innovation does not come without challenges. Often, the progress of innovation outpaces regulatory response, creating gaps that can lead to substantial risks. The fallout from several crypto exchanges’ failures in recent years serves as vivid reminders that we must pay attention to market integrity, investor protection, money laundering and cybersecurity risks, as financial products and services continue to innovate and digitalise.      On a positive note, the history of financial innovations shows that we learnt and adapted fast, and put in better guardrails and became more resilient. The key to success lies in maintaining an open, fair, balanced and forward-looking regulatory approach that is conducive to the sustainable and responsible development of financial innovation, including Web3. Hong Kong’s unparalleled advantages      This is the path taken by Hong Kong. While some major jurisdictions have recently begun to embrace cryptocurrencies, which has undoubtedly fuelled a boom of the crypto market, Hong Kong stands out as a market with consistent, predictable, forward-looking policies, and a balanced regulatory framework. For innovators and companies committed to building the future of Web3, or financial institutions looking to bridge traditional and digital finance, Hong Kong is where you want to be.       Our regime is premised on the “same activity, same risk, same regulation” principle, which ensures a level playing field for all market participants. In this regard, Hong Kong has already put in place a licensing regime for digital asset trading platforms. Our Securities and Futures Commission has already issued nine such licences, with more in the pipeline. We are also advancing on the regulation of stable coins, and have introduced the relevant piece of legislation.      To facilitate further innovation, regulatory sandboxes have been set up by our regulators to allow innovators to test and refine their ideas, and to get early regulatory feedback. Besides, initiatives like the Hong Kong Monetary Authority’s Project Ensemble are accelerating the development of tokenisation ecosystems, covering RWAs like fixed income, investment funds, green finance and trade finance.      Indeed, this pro-innovation and collaborative regulatory approach is a unique value proposition of Hong Kong to Web3 innovators and participants.      AI is constantly evolving and increasingly applied to finance. Its convergence with blockchain will create more use cases, with both new opportunities to be captured, and challenges to be addressed. Hong Kong has set out a clear policy stance on the use of AI in financial services. The Government and financial regulators are working closely with the industry to monitor technology and market development and establish a transparent supervisory framework.      Hong Kong’s commitment to Web3 extends beyond regulation. We are investing heavily in the related infrastructure and talent development. Our Cyberport and Science Park have become vibrant hubs for Web3 innovation and fintech, while our universities and partnerships with the industry are nurturing generations of blockchain experts. Through talent admission schemes, we are also attracting top-notch professionals from around the world, ensuring that Hong Kong remains at the cutting edge of technological advancement. Concluding remarks      Ladies and gentlemen, while the tides of change may ebb and flow, the quest for innovation has never stopped. The digital asset market today may somewhat resemble the early days of all great transformative paradigms: as new frontiers emerge, there will always be champions of progress and cautious observers. What remains true is that the market ultimately rewards those who dare to innovate, and adapt and persevere.      The tides of change are upon us, and Hong Kong is ready to ride the wave. As the Web3 ecosystem continues to evolve, Hong Kong will remain a stable, open and vibrant market for digital assets. I am confident that global companies and institutions will join force with us to lead its development.      Once again, my heartfelt thanks to CoinDesk for hosting this event in Hong Kong. I wish you all a productive and inspiring event over the next two days. And do remember to take some time to enjoy Hong Kong, Asia’s world city. Thank you.

     
    Ends/Wednesday, February 19, 2025Issued at HKT 12:30

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ1: Protecting rights and interests of spouses after marital breakdown

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Nixie Lam and a reply by the Secretary for Home and Youth Affairs, Miss Alice Mak, in the Legislative Council today (February 19):
     
    Question:
     
         It has been reported that while quite a number of prospective couples have drawn up prenuptial agreements through lawyers to make advance arrangements for the distribution of property and protection of their rights and interests in the event of divorce, prenuptial agreements are not legally binding under the existing legislation. In this connection, will the Government inform this Council:
     
    (1) whether it will consider enacting legislation to ascertain the legal effect of prenuptial agreements; if so, of the details; if not, the relevant legal considerations; 

    (2) whether it will, by drawing reference from the Civil Code of the People’s Republic of China, categorise a person’s property into prenuptial and postnuptial property, without converting prenuptial property into joint property between spouses as a result of marriage; if so, of the details; if not, the reasons for that; and 

    (3) as it is learnt that while quite a number of members of the public protect their interests in property in matrimonial causes through the trust services provided by banks and trust companies, some banks require their clients to have a minimum of US$1 million in liquid assets or US$3 million in non-liquid assets, and some trust companies’ minimum asset requirements for their clients are also very high, whether the Government will consider taking measures to provide members of the public whose assets have not met the relevant thresholds with a similar asset protection mechanism, so as to further enhance Hong Kong’s status as an international asset management centre? 

    Reply:
     
    President,

         When applying for a divorce, both parties to the marriage would normally apply to the court for the settlement of financial matters, such as the division of property and application for maintenance. According to existing legislation, the Matrimonial Proceedings and Property Ordinance (Cap 192) (the Ordinance) empowers the court to order either party to the marriage to make to the other financial provision, or to make order for transfer of property, etc., when granting decree of divorce, decree of nullity of marriage or decree of judicial separation, or at any time thereafter.
     
         In consultation with the Financial Services and Treasury Bureau and the Department of Justice, my reply, on behalf of the Government, to the question raised by the Hon Nixie Lam is as follows:
     
    (1) According to section 7(1) of the Ordinance, the court shall have regard to the conduct of the parties to the marriage and all the circumstances of the case when dealing with matters in relation to financial provisions, transfer and sale of property, etc. The circumstances of the case include the income, earning capacity, property and other financial resources which each of the parties to the marriage has or is likely to have in the foreseeable future; the age of each party to the marriage and the duration of the marriage; as well as the contributions made by each of the parties to the welfare of the family. As the circumstances of the parties to the marriage and family in each case vary, each application shall be handled according to the actual situation. Under the current law, the court has broad discretionary powers to enable it to properly deal with different situations and make fair arrangements for the division of property.
     
         Although Hong Kong currently does not have relevant legal provisions made for prenuptial agreements, the court will, based on the circumstances of the case and the conduct of both parties, consider adopting some or all of the contents of the prenuptial agreement. With reference to local cases, the Court of Final Appeal also pointed out in its judgment that although a prenuptial agreement could not override the powers of the court to grant ancillary relief, it carries considerable weight in relation to the exercise of the court’s discretion when granting such relief. If prenuptial agreement is made between a couple prior to their marriage as to the manner in which their financial affairs should be settled upon divorce, the court should give weight to such agreement where it was fair to do so. Conversely, mandatory enforcement of a prenuptial agreement may, due to the unique circumstances of individual cases, such as something unforeseen at the time of the agreement occurred after the marriage, result in an unfair division of property and harm the interests of one party. It can thus be seen that the current regime effectively ensures that the court can, after fully considering the contents of the prenuptial agreement and all other factors related to the division of property, make an arrangement for division of property which is the fairest for both parties to the marriage to safeguard their interests.
     
    (2) For the second part of the question, the division and definition of matrimonial property and non-matrimonial property depend on the specific circumstances of each case. As I have just mentioned, the court will consider a basket of factors in determining the division of property when the parties to the marriage divorce. According to Section 7(1)(f) of the Ordinance and with reference to local cases, the contributions made by each party to the welfare of the family and the source of the assets are factors that the court would take into account when dealing with the division of property. In fact, in accordance with the principle of fairness, the court must also take into account the financial needs of both parties and/or their children, as well as the standard of living they enjoyed before the divorce. Therefore, due to the uniqueness of each case, the court may not be able to deal with pre-marital property in a uniform approach. The division of property upon divorce involves various complex legal principles and issues, which must be considered comprehensively and carefully. We believe that the current arrangement is effective and will keep in view the relevant situation.
     
    (3) Regarding trust companies, the Government is committed to promoting the industry to offer diversified products, with a view to better satisfying the market needs and facilitating the long-term healthy development of the sector. There is no uniform standard on the asset threshold for setting up a trust. Trust companies in the market formulate different asset thresholds based on their business models, types of trust solution, clients’ need and their levels of risk exposure. Trust companies offer diversified products and professional services to clients with different asset scales, providing them with greater flexibility and more choices when conducting asset allocation.
     
         The Hong Kong Monetary Authority (HKMA) regulates the trust business of banks, so as to enhance clients’ confidence in entrusting assets to banks in Hong Kong. At present, the HKMA does not impose any regulatory requirements on the minimum asset thresholds for the provision of trust services to clients. Banks may decide the conditions applicable to the provision of trust services to their clients, taking into account their own specific circumstances, such as target clientele, operational costs, resource allocation and market demand, among other factors. Banks will review and adjust their trust business, with reference to market developments and their own business considerations. The HKMA will continue to keep in view market developments, and enhance the regulations on the trust business of banks as appropriate.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Government announces appointment of Chairman of Hong Kong Trade Development Council

    Source: Hong Kong Government special administrative region

         The Government announced today (February 19) the appointment of Professor Frederick Ma Si-hang to succeed Dr Peter Lam Kin-ngok as Chairman of the Hong Kong Trade Development Council (HKTDC) for two years from June 1, 2025, to May 31, 2027.

         Commenting on the appointment, the Secretary for Commerce and Economic Development, Mr Algernon Yau, said, “With extremely profound experience in public service as well as the commercial sector, Professor Ma is well suited for taking up the HKTDC chairmanship. I am confident that he will lead the HKTDC to make every effort in assisting enterprises to embrace the challenges arising from the ever changing global trading landscape and actively tap new markets and business opportunities, with a view to further promoting Hong Kong’s development as an international trade centre.”

         “I would like to express my heartfelt gratitude to the outgoing Chairman, Dr Lam, for his tremendous contributions during his tenure in promoting Hong Kong’s advantages and opportunities. Under his chairmanship, the HKTDC has successfully promoted Hong Kong as a two way global investment and business hub and assisted Hong Kong companies in further exploring the business opportunities in the Mainland and overseas brought by the nation’s dual circulation strategy, with outstanding achievements particularly in promoting Hong Kong in the Guangdong-Hong Kong-Macao Greater Bay Area and emerging markets under the Belt and Road Initiative,” Mr Yau added.

         A brief biographical note of Professor Ma is set out below:

         Professor Ma is the non-executive Chairman of the FWD Group, as well as a member of the Chief Executive’s Council of Advisers, with extensive experience in public service.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ8: Guidance Notes on Prevention of Heat Stroke at Work

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Lam So-wai and a written reply by the Secretary for Labour and Welfare, Mr Chris Sun, in the Legislative Council today (February 19):

    Question:

         The Labour Department (LD) launched on May 2 last year the revised “Guidance Notes on Prevention of Heat Stroke at Work” (GN) and introduced the optimised Heat Stress at Work Warning system. However, some labour unions have relayed that GN and the optimised measures are virtually non-existent (including the fact that some companies still do not arrange rest time or shaded areas for rest breaks for their employees), failing to help employees in preventing heat stroke. In this connection, will the Government inform this Council:

    (1) of the number of cases of heat stroke-related work injury cases registered at LD in the past three years; whether it has reviewed if the number of heat stroke-related work injury cases registered has decreased after the revision of GN; if it has reviewed and the outcome is in the affirmative, of the details; if the outcome of the review is in the negative, whether it has studied the reasons for that;

    (2) after the revision of GN, of the respective numbers of advice or warnings given by the authorities against employers who have not taken sufficient measures to prevent heat stroke; as the Secretary for Labour and Welfare indicated in a media interview in May last year that for employers who deliberately do not follow GN, the authorities will invoke the provision of general responsibility of employers under the Occupational Safety and Health Ordinance (Cap. 509) to institute prosecutions, of the number of such prosecutions so far; and

    (3) of the specific timetable for reviewing GN; whether the authorities will consider legislating to mandate employers to conduct workplace heat stress risk assessment for their employees so as to further ensure the safety of employees; if so, of the details; if not, the reasons for that?

    Reply:

    President,
     
         My reply to the Hon Lam So-wai’s question is as follows:
     
    (1) The number of work injury cases related to heat stress in the past three years is listed below:
     

    Year
    2022
    2023
    2024

    Total number of cases
    16
    31
    29*

    * As some suspected cases are still under investigation, the number of cases in 2024 is provisional and subject to change based on the investigation outcome.

         The increase in the number of cases is probably related to the issuance of the “Guidance Notes on Prevention of Heat Stroke at Work” (GN) by the Labour Department (LD) in 2023 and the extensive publicity carried out in collaboration with the Occupational Safety and Health Council. The GN raised employers’ and employees’ awareness and concern about heat stroke at work, as well as their understanding that heat stroke at work can be considered and handled as work injuries, thus resulting in an increase in the reporting of relevant cases in 2023 and 2024.

    (2) In the summer of 2024, the LD conducted a total of 23 620 inspections related to risk control measures against heat stress and issued 1 031 warnings to relevant stakeholders. The warnings were mainly related to failure to conduct a heat stress risk assessment in accordance with the GN to ensure the implemented heat stroke preventive measures are appropriate and effective, failure to keep records of heat stress risk assessment, or failure to take adequate preventive measures to reduce the risk of heat stroke at work. We did not find any serious contravention in the period of inspection that warranted prosecution under the general duty provisions of the Occupational Safety and Health Ordinance (OSHO). We believe that most employers recognise the need to prevent their employees from getting heat stroke at work and are willing to take necessary measures against heat stress in accordance with the recommendations in the GN.

    (3) In 2023, the LD issued the GN and introduced the Heat Stress at Work Warning (HSWW) based on the Hong Kong Heat Index to enable employers and employees to formulate, with reference to the GN and according to the heat stress level, appropriate and risk-based control measures to reduce the risk of heat stroke posed to employees at work.

         Taking into account the views of various stakeholders, the LD expedited the review in May 2024 with parts of the GN revised and strengthened in order to enhance the employers’ and employees’ understanding of the criteria and recommendations provided in the GN. At the same time, the HSWW system was optimised by linking its warning with the Hong Kong Observatory’s “Extremely Hot” special alert and adjusting the cancellation mechanism of HSWW further so that the re-issuance of warning within a short time after cancellation was significantly reduced in 2024.

         Under the general duty clauses of section 6 of the OSHO, every employer must, so far as reasonably practicable, ensure the safety and health at work of all the employer’s employees, including the provision or maintenance of a working environment and systems of work that are safe and without risks to health of the employees. Employers are required to conduct heat stress risk assessments for employees working in hot environment, and take necessary risk control measures based on the assessment results to prevent employees from getting heat stroke at work. The LD will conduct inspection and law enforcement work. In particular, inspection of workplaces with a higher risk of heat stroke will be stepped up during summer time to ensure that employers have taken appropriate measures to safeguard employees against heat stroke at work. If irregularities are found during inspection, relevant law enforcement actions will be taken based on the seriousness of the circumstances and the evidence available.

         We believe that the GN can raise the awareness and capacity of employers and employees in preventing heat stroke at work, and we will continue to conduct various publicity and promotional activities as well as education and training work to remind and assist them to take appropriate heat stroke preventive measures in accordance with the GN. Moreover, the LD will continue to perform inspection and law enforcement work to monitor the implementation of heat stroke prevention measures in high-risk industries and ensure that employers have taken appropriate measures to prevent employees from getting heat stroke at work.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ16: Professional Services Advancement Support Scheme

    Source: Hong Kong Government special administrative region

    LCQ16: Professional Services Advancement Support Scheme
    LCQ16: Professional Services Advancement Support Scheme
    *******************************************************

         Following is a question by the Hon Maggie Chan and a written reply by the Secretary for Commerce and Economic Development, Mr Algernon Yau, in the Legislative Council today (February 19): Question:      The Professional Services Advancement Support Scheme (PASS) launched by the Government in 2016 with a total commitment of $200 ‍million aims at funding non-profit-making industry-led projects to increase exchanges and co-operation between Hong Kong’s professional services and external counterparts, promote relevant publicity activities, and enhance the standards and external competitiveness of Hong Kong’s professional services. In addition, the Government has set aside $50 ‍million to launch the Professionals Participation Subsidy Programme (PSP) under PASS, which subsidises Hong Kong’s major professional bodies to participate in relevant activities organised by the Government and the Hong Kong Trade Development Council after the epidemic has stabilised in order to step up the promotion of Hong Kong’s competitive edges and professional services to external parties. In this connection, will the Government inform this Council: (1) of the following information on the Main Programme of PASS from August 2021 to November last year: the number of (i) funded and (ii) ‍rejected projects, (iii) the number of beneficiary organisations, (iv) the average amount of grant for approved projects, and (v) the beneficiary sectors and their proportions; (2) given that according to the paper submitted by the Government to the Finance Committee of this Council on July 8, 2016, the funding of $200 million allocated to PASS could sustain its operation up to around 2021-22, of the total amount of grants involved in the approved projects of PASS since its launch, and whether the Government has re-assessed up to when the funding can sustain the operation of PASS; (3) of the following information on the PSP since its launch: (i) the number of applications approved, (ii) the total amount of subsidies granted, and (iii) the number of beneficiaries; (4) as there are views pointing out that international legal and dispute resolution services are among the several industries in which Hong Kong can utilise its unique advantages under “one country, two systems”, whether the Government has compiled statistics on the number of applications for PASS funding submitted by organisations in the legal sector and the proportion they account for, and analysed their reasons for applying; of the highest and lowest amounts of funding granted for such applications; (5) whether it has reviewed if the number of applications under PASS has resumed to the pre-epidemic level after the Government’s lifting of all mandatory mask-wearing requirements in March 2023; if the number of applications has resumed to the pre-epidemic level, of the details; if not, whether it has studied the reasons for that; and (6) apart from issuing a press release on December 1 last year announcing that PASS would accept a new round of applications, whether the Government has formulated other promotion plans for PASS; if so, of the details; if not, whether it will formulate the relevant plans expeditiously? Reply: President,      The Professional Services Advancement Support Scheme (PASS), launched in November 2016 with a total commitment of $200 million, aims to support Hong Kong’s professional services sector in undertaking worthwhile projects to strengthen exchanges and co-operation with external counterparts, promote relevant publicity activities, and enhance service standards and external competitiveness. Since the launch of the Main Programme of PASS, nearly 120 projects have been funded, involving a total grant of about $80 million.      In addition, it was announced in the 2020 Policy Address that the Government would set aside $50 million under PASS to set up the Professionals Participation Subsidy Programme (PSP), which subsidises Hong Kong’s major professional bodies to participate in relevant activities organised by the Government (e.g. Hong Kong Economic and Trade Offices) and the Hong Kong Trade Development Council after the pandemic situation has stabilised, with a view to stepping up promotion of Hong Kong’s competitive edge and professional services to Mainland cities and overseas markets.      My reply in response to the question raised by the Hon Maggie Chan is as follows: (1), (3) and (4) From August 2021 to November last year, a total of 41 projects were funded under the PASS Main Programme, involving 24 applicants with a total grant of about $24 million. The average amount of grant for each project is about $600,000. A total of 25 applications were not funded. Among the beneficiary sectors, health-related services accounted for about 40 per cent, legal services accounted for about 20 per cent and building and construction-related services accounted for around 15 per cent. Beneficiary sectors of the remaining projects included design services, information and communications technology services etc. Projects related to legal services involved four applicants, with the highest and lowest amounts of grant approved being around $1.1 million and $270,000 respectively. As for the PSP, since the stabilisation of the pandemic and easing of travel restrictions at the end of 2022, a total of 14 activities were funded. Nearly 300 local professionals participated, involving a total subsidy of about $3.4 million. (2) As mentioned in the first paragraph above, since the launch of the PASS Main Programme in 2016, the total amount of grant approved is about $80 million, averaging around $10 million of funding approved per year. With reference to the average annual funding approved in the past, it is expected that the funding of $150 million designated for the Main Programme can sustain its operation until around 2031-32, though the actual situation will depend on the number of applications submitted by applicants and the amount of grant approved for each project. (5) and (6) The number of applications under PASS during the pandemic was similar to those before and after the pandemic. Most of the applicants conducted their projects online during the pandemic, hence the relatively low amount of funding applied. The projects have now resumed in a physical format. We have been actively promoting PASS through various channels, such as holding quarterly briefing sessions, sending emails to post-secondary institutions, commercial and industrial organisations as well as professional bodies, issuing press releases, and providing application information on the PASS website. We also take the initiative to reach out to and meet with commercial and industrial organisations as well as professional bodies from time to time to brief them on PASS and encourage them to actively apply for funding. Relevant promotion work is on-going.

     
    Ends/Wednesday, February 19, 2025Issued at HKT 11:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: India and Argentina Strengthen Cooperation in Lithium Exploration and Mining with a MoU

    Source: Government of India (2)

    Posted On: 19 FEB 2025 5:37PM by PIB Delhi

    Union Minister for Coal and Mines, Shri G. Kishan Reddy, along with Secretary, Ministry of Mines, and senior officials of the Ministry of Mines, held a meeting with H.E. Raúl Alejandro Jalil, Governor of Catamarca, Argentina, in New Delhi today. The discussions focused on expanding cooperation in the mining sector, particularly in lithium exploration and investment opportunities. A key highlight of the meeting was the signing of a Memorandum of Understanding (MoU) between Mineral Exploration and Consultancy Limited (MECL), a PSU under the Ministry of Mines, and the Provincial Government of Catamarca, Argentina, which will pave the way for deeper collaboration in exploration and resource development of critical minerals.

    Argentina, known for its vast lithium reserves as part of the ‘Lithium Triangle,’ is a crucial partner for India in securing essential minerals required for electric vehicle batteries and renewable energy storage. The discussions covered ongoing lithium exploration efforts by Khanij Bidesh India Ltd. (KABIL) & Greenko in Catamarca and the possibilities of increasing participation of Indian companies in mining projects of Argentina. Both sides explored avenues for investment, long-term supply agreements, and joint ventures that would help strengthen India’s access to this critical mineral.

    Senior officials from both sides engaged in discussions on policy frameworks, regulatory aspects, and sustainable mining practices to ensure a mutually beneficial partnership. Additionally, there was a strong emphasis on knowledge exchange and infrastructure support to enhance India’s engagement in Argentina’s mining sector.

    With the signing of the MoU, India and Argentina have reaffirmed their commitment to strengthening ties in the critical minerals domain. This collaboration is expected to accelerate lithium exploration projects, enhance resource security, and create new opportunities for Indian companies in the Latin American mining landscape.

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    Shuhaib T

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