Category: Business

MIL-OSI: Click announced the CEO Statement

Source: GlobeNewswire (MIL-OSI)

Hong Kong, Feb. 04, 2025 (GLOBE NEWSWIRE) — Today, Click Holdings Limited (NASDAQ: CLIK) (“Click” or the “Company” or “we” or “our”), a fast-growing human resources solutions provider based in Hong Kong, would like to share the joy and happiness of the Lunar Chinese New Year with all our shareholders, customers and business partners. As we drew a close to the Year of Dragon, our CEO, Mr. Chan Chun Sing, Jeffrey would like to report to you our numerous key achievements in 2024 and share his visions for the year ahead.

“2024 was a remarkable year for Click.” said Jeffrey, founder and CEO of Click. “Not only did we accomplish the historical public listing by raising US$5.6 million on Nasdaq, we also achieved countless breakthroughs in our business.”

“We experienced significant growth across all segments. As for the seniors nursing solution services, we achieved a record of over 170,000 service hours in calendar year 2024, expecting a growth of 60% as compared to that of 2023. In particular, we project our logistic solution services would record a spectacular growth of 90%. To further extend our coverage, in December 2024, we entered a cooperation agreement with Care U Professional Nursing Service Limited, one of the leading nursing service providers in Hong Kong, in order to tap into the prominent government-sponsored CCSV scheme aiming to provide community care services to senior citizens in Hong Kong.”

Key 2024 Achievements

– Strong growth in revenue – projected 40% surge in overall revenue in calendar year 2024 compared to that of 2023. We project both our nursing and logistics solutions segment recorded strong growth of 30% and 90% respectively.

– Successfully raised US$5.6M of capital from listing

– Tapping into home seniors nursing service through government-sponsored CCSV scheme

Outlook for 2025 and Beyond

“While unemployment rate in Hong Kong stays low at around 3%, a change in working habit such as freelancers and slashers, is believed to be permanent. Therefore, we continue to expect high demand of human resources outsourcing services in the market. Meanwhile, as aging population becomes a global phenomenon, we will continue to invest big in the seniors nursing solution sector. We will expand our collaboration with business partners and may consider M&A options when opportunities arise.”

“Furthermore, embracing technology has always been a key to our success. Our CTO, Nixon Chau, former GM of SenseTime Group, a leading AI software company, will lead our team to expand into the smart home solutions market for seniors in Hong Kong. Needless to say, we will continue to invest in expanding our talent pool which has been the bedrock to our business, and will extend services to cover property management, food and beverages, and retailing, sectors all currently facing labour shortages in Hong Kong. We are currently the only Nasdaq-listed company focusing on seniors nursing HR solution in Hong Kong and will continue to sustain strong growth by providing a convenient platform to connect our talents with our clients’ HR shortfall.”

“Looking ahead, I remain fully confident in all our business developments and I hope you feel the same. Last but not least, on behalf of Click, I would like to extend our warmest greetings to all our shareholders, customers and business partners, Kung Hei Fat Choy, wish you Good Health and Good Fortune in the Year of Snake ahead.” said Jeffrey.

About Click Holdings Limited

We are a fast-growing human resources solutions provider based in Hong Kong, aiming to match our client’s human resources shortfall through our proprietary AI-empowered talent pool by one “click”. Our key businesses primarily include nursing solution (mainly seniors) services, logistics solution services and professional solution services.

For more information, please visit https://clicksc.com.hk.

Safe Harbor Statement

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC, which are available for review at www.sec.gov.

For enquiry, please contact:

Click Holdings Limited
Unit 709, 7/F., Ocean Centre
5 Canton Road
Tsim Sha Tsui, Kowloon
Hong Kong
Email: jack.wong@jfy.hk
Phone: +852 2691 8200

The MIL Network –

February 5, 2025
MIL-OSI: Intesa Sanpaolo reports record Net Income of €8.7 billion in 2024, raises 2025 Guidance
Source: GlobeNewswire (MIL-OSI)

MILAN, Feb. 04, 2025 (GLOBE NEWSWIRE) — Intesa Sanpaolo has posted its best-ever financial results, closing 2024 with a net income of €8.7 billion, up 12% compared to 2023. This outstanding performance enables the bank to distribute €6.1 billion in cash dividends to shareholders for 2024. Additionally, subject to shareholder approval, a new €2 billion share buyback will be launched in June.

With strong profitability and a robust capital position, Intesa Sanpaolo has raised its net income guidance for 2025 to well above €9 billion.

Strong revenue growth and cost efficiency

Intesa Sanpaolo recorded significant growth in commissions, up 9% compared to 2023, with acceleration in Q4. Insurance income reached an all-time high, increasing by 4% year-over-year.

Customer financial assets expanded by €77 billion, reaching around €1.4 trillion, supported by €5.1 billion in net inflows into Assets under Management (AuM) in Q4.

Despite heavy investments in technology, cost discipline remains a priority. The bank achieved a record-low cost/income ratio of 42.7%, one of the best in Europe.

Technology investments and digital transformation

Technology remains at the core of Intesa Sanpaolo’s strategy. The bank has invested €4.2 billion in digital transformation, hiring over 2,300 IT specialists and migrating 62% of its applications to the cloud.

Isybank, the bank’s digital-only platform, saw a surge in new customers in Q4, surpassing a total of 500,000 new sign-ups. This brought the total isybank customer base close to 900,000, reinforcing its position as a key digital player.

Commitment to Social Impact

Intesa Sanpaolo continues to lead in social impact initiatives, having deployed around €340 million in 2024 alone to combat poverty and reduce inequalities, supported by a dedicated team of 1,000 professionals.

Outlook for 2025 and beyond

The bank expects net income to be well above €9 billion in 2025, maintaining strong and sustainable profitability. Plans include returning over €6 billion in cash dividends, with additional distributions to be determined at year-end.

CEO Carlo Messina’s remarks

Carlo Messina, CEO of Intesa Sanpaolo, remarked on the results:
- “We are over-delivering on our commitments as we enter the final year of our Business Plan. We just delivered our best-ever net income, at €8.7 billion. This rises to €9 billion when excluding non-recurring items and the €900 million in gross income managerial actions taken to strengthen future profitability.”
- “This excellent performance allows us to reward shareholders with €6.1 billion in cash dividends for 2024. Our strong profitability and rock-solid capital position also mean that – subject to shareholders’ approval – in June we will launch a new €2 billion share buyback.”
- “Our 2024 results are marked by our best-ever Insurance income and strong growth in commissions. Costs remained stable, asset quality was top-tier, and customer financial assets increased by €77 billion. We leveraged Q4 profitability to reinforce our buffers and sustain future results, while increasing our net income guidance for 2025 to well above €9 billion.”
- “We continue to invest in technology, with €4.2 billion already deployed, more than 2,300 IT specialists hired, and over 60% of applications already cloud-based. Isybank now has over 500,000 new clients, with a strong acceleration in Q4. This brings the total Isybank customer base to nearly 900,000, giving us significant scale.”
- “Our tech investments are also enabling a generational shift in our workforce. In three years, we will see 9,000 exits, allowing us to attract new talent and enhance efficiency. We are generating significant synergies internally, with no need for acquisitions, and avoiding related execution risks.”
- “Looking ahead, we expect net income in 2025 to be well above €9 billion—a level that is sustainable in the coming years. We will return more than €6 billion in cash dividends and evaluate additional distributions at year-end.”
- “Our well-diversified business model, centered on Wealth Management and Protection, will perform under any interest rate scenario. Strong and sustainable performance allows us to reward shareholders while maintaining a rock-solid capital base and contributing to social impact initiatives.”
Click here for more information on Intesa Sanpaolo’s financial results and strategic outlook.

Contact: international.media@intesasanpaolo.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/771c288b-145b-446b-a4ac-87dafc1baee1

The MIL Network –
February 5, 2025
MIL-OSI: Digital Tails Group, LLC. Released New Type of AI Assistant.
Source: GlobeNewswire (MIL-OSI)

New York, NY, Feb. 04, 2025 (GLOBE NEWSWIRE) — bowmo™, Inc. (OTC: BOMO), a New York City–based company powered by AI and XR/VR technologies aiming to provide fully customizable SaaS Platforms to multiple industries (https://bowmo.com ) (“bowmo,” “the Company”) and its recent merger partner OWNverse/Digital Tails Group (“DTG”), are pleased to announce that Digital Tails Group has released a new AI Assistant. This new DTG AI Assistant is smarter and faster than competing AI assistants and will act as a person’s everyday ally.

In the modern technological landscape, there is hardly anyone who hasn’t encountered an AI assistant when reaching out to customer support; it’s becoming commonplace these days. But not all assistants are created equal – each model comes with unique capabilities and levels of sophistication.

In essence, all AI assistants have the same requirements. They should:
- understand you – using Natural Language Processing (NLP), they get what you’re saying, even if it’s nuanced
- learn with you – thanks to machine learning, they get smarter over time, and adapt to your preferences and patterns
- know you – they use context like past interactions or location (if allowed) to create tailored responses
known AI assistants can be:
1. Voice-activated – Think Siri or Alexa, ready to respond when you speak
2. Task masters – Handling specific jobs, like organizing emails or setting up meetings
3. Predictive – Anticipating what you need before you even ask
The DTG AI assistant, named Aurora, can help with online shopping, customer support and personalized search, but her intelligence is wide and versatile. She can be trained to support any business, to help automate its operations.

Aleksey Shestakov, Chairman of the Board of OWNverse/Digital Tails and the Chief Technical Officer of bowmo, Inc. summarized, “Our company focuses on the point-to-point application of advanced technologies in the interests of real business, manufacturing, and electronic commerce. That is why we are developing solutions that increase the efficiency of business operations and create additional business value.”

Michael R. Neece, Chief Product Officer of bowmo, Inc. added, “Offering the Digital Tails Group’s AI assistant, which constantly learns each user’s preferences and supports any business process, is a significant value addition we can now deliver to customers.”

You can learn more about Aurora at: https://digital-tails.group/ai-assistant. Try it now at work or home to streamline your day-to-day operations and life.

About bowmo, Inc.
Bowmo Inc., (OTC: BOMO) is a New York City–based AI-powered software and services company that incorporates a novel set of technologies to build a platform that will deliver solutions for multiple industries. Bowmo’s flagship product seamlessly integrates AI and extended reality (XR) technologies to revolutionize recruitment and human resource (HR) processes.

Building upon our multi-vertical platform, bowmo is poised to introduce a suite of future products catering to the cybersecurity, retail, sports, media/entertainment, and real estate sectors. This expansion underscores bowmo’s commitment to diversifying revenue streams and addressing diverse industry needs through advanced technological solutions.

bowmo’s platform harnesses AI, machine learning (ML), deep learning (DL), blockchain, and process orchestration.

About OWNverse, LLC.
OWNverse is a virtual platform company that develops unique tools for creating targeted products and services for virtual spaces (“Metaverses”) by using the technology stack available through widely used Web2 platforms driven by AI.

OWNverse allows for the integration of such tools to elevate the dimensionality of products and services, while offering such products and services within the spatially immersive 3D Internet—Web3.

OWNverse aims to empower all users to become co-creators of the content. The main OWNverse ideology is to supply proven tools to users to provide real value for businesses and create virtual communities in numerous business sectors.

About Digital Tails Group, LLC.
Digital Tails Group (“DTG,” the “Company”) is an IT company specializing in software development using 3D technology, extended reality (XR) and artificial intelligence (AI).

The DTG expertise in advanced technologies ranges from virtual reality (VR) experiences to smart AI algorithms, enabling us to help our clients improve their competitive strength through the application of advanced UI and knowledge technologies.

Additional Information and Where to Find It
Additional information is available on the Company’s website: https://www.bowmo.com. In addition, other information related to the Company is available at the SEC’s website at www.sec.gov, or by directing a request to: bowmo, Inc., 99 Wall Street, Suite 891, New York, NY 10005; or by phone at 212-398-0002.

Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words “may,” “will,” “should,” “plans,” “expects,” “anticipates,” “continue,” “estimates,” “projects,” “intends,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, BOMO’s ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various software programs, changes in future customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond BOMO’s control. Except as may be required by law, bowmo, Inc. undertakes no obligation, and does not intend, to update these forward-looking statements after the date of this release.

Contact:
Michael E. Lakshin
Chairman of the Board and President
Michael.Lakshin@bowmo.com

The MIL Network –
February 5, 2025
MIL-OSI Africa: DRC: history is repeating itself in Lubumbashi as the world scrambles for minerals to go green

Source: The Conversation – Africa – By Brandon Marc Finn, Research Scientist at the School for Environment and Sustainability, University of Michigan

Lubumbashi is a city in the mineral-rich Katanga region in the south of the Democratic Republic of Congo (DRC).

Many people might not have heard of it, but Lubumbashi and its surrounding region have been at the centre of global geopolitics since the start of the 20th century. The area provided immense sources of copper, a metal that helped electrify the planet in the 1900s. It was also the source of all the uranium for the atom bombs used in the second world war.

The global demand for these minerals came at a great price. Lubumbashi grew as a divided city where housing and labour were spatially and racially segregated. Congolese workers were exploited, abused and taxed as urban and mining strategies were used to reshape society.

History is repeating itself. Neocolonialism now shapes the extraction of DRC resources.

Read more: DRC is the world’s largest producer of cobalt – how control by local elites can shape the global battery industry

Today, the southern DRC produces over 70% of the world’s cobalt. Cobalt is a mineral essential to decarbonisation – a strategy to reduce harmful carbon dioxide emissions. Cobalt is present in batteries in electric vehicles, mobile phones, laptop computers and renewable energy storage systems.

Like copper and uranium before it, cobalt mining has been linked to widescale exploitation and child labour. Corruption and elite capture remain defining features of mining in the DRC.

We are academics who research urbanisation, mining and sustainability as well as urban planning and environmental management. Our recent paper addresses the fact that African cities like Lubumbashi are at the heart of events that have shaped the modern world, yet they are woefully neglected in global urban theory (thinking about how cities form and develop) and urban geography.

Focusing on the global north and neglecting the south leads to major data gaps and contributes to mismatched and outdated urban policy.

Rock containing cobalt. © Brandon Marc Finn

We also argue that the human rights abuses and perils of today’s cobalt mining are new forms of old colonial practices. They strip the land and people of resources without proper pay. They offer green minerals to the global north at the cost of lives in the global south.

Sustainable cities and global decarbonisation are essential if we are to reduce cities’ carbon footprints and decarbonise economies in the face of the climate crisis.

Lubumbashi’s history, therefore, can offer a fuller understanding of the human and historical costs of minerals that shape cities – and the world.

A brief history of Lubumbashi

Lubumbashi was originally called Elisabethville. It was established by colonial Belgium in 1910 precisely to extract copper for global markets. This was done through a company named Union Minière du Haut Katanga (UMHK).

Concessionary companies made enormous profits in the Congo Free State between 1885 and 1908. The entire country stood under the private ownership of King Leopold II of Belgium. These companies were given the right to extract minerals and rubber through taxes imposed on local people.

A road being built in the Belgian Free State in 1890. PHAS/Universal Images Group/Getty Images

The Belgian Compagnie du Katanga (which later founded UMHK) had the task of establishing the physical and economic infrastructure of the region. In exchange for laying the groundwork for the extractive industries, soon to be headquartered in Elisabethville, the company was given a third of all unoccupied land in Katanga. The Belgians established a copper smelter and constructed roads. Temporary headquarters were established to supervise Elisabethville’s expansion.

One initial method of controlling the local rural people was a “hut tax” that had to be paid to live in Lubumbashi. Later, a “head tax” was introduced to raise funds for colonial management. It forced people into labour as the only means to pay off their newly acquired debt to the colonial state.

Elisabethville served as the device to assert effective occupation. It also staved off the possibility of British occupation of the territory. The Belgians planned Elisabethville by reproducing the urban forms and racial segregation of Bulawayo’s grid in Southern Rhodesia (part of today’s Zimbabwe) and Johannesburg in South Africa.

Elisabethville’s early plan. F Grevisse/Institut Royal Colonial Belge

UMHK dominated the colonial economy as demand for copper increased worldwide. UMHK also stipulated which seeds would be planted where for agriculture. It dissolved local markets and whipped labourers.

Copper was in such high demand because it is a non-corrosive material that conducts electricity well. It lined telegraph and electrical transmission cables across the globe.

Copper mining acted as a springboard from which UMHK could spread its influence. It developed railways, cities, labour camps and mining sites throughout Katanga.

Spatial segregation in Elisabethville. P Vandenbak

This allowed UMHK access to the extraction of another resource that would shape the global geopolitical landscape: uranium – extracted from the Shinkolobwe mine in Katanga.

It was the Belgian colonial presence that allowed the US to have access to uranium deposits as they sought to beat Germany in the race to build atomic weapons. All the uranium used in the two nuclear bombs dropped on Hiroshima and Nagasaki came from Katanga.

This highlights the global significance of, but a neglected focus on, the impacts of mineral supply chains in the global south. Control over Lubumbashi’s minerals cannot be underplayed in this global historical event.

Katanga seceded from the Congo for three years, 11 days after the country gained independence from Belgium in 1960. The fight to gain control over Katanga’s resources led to the US and Belgian-backed assassination of the first independence leader, Patrice Lumumba. He was intent on reunifying Congo.

Mobutu Sese Seko became president of Zaire (today’s DRC) after a coup in 1965. He nationalised UMHK a year later. Mobutu served as president for almost 32 years, and his regime was characterised by autocratic corruption and economic exploitation.

Cobalt and global decarbonisation

The growth of modern technology relies, at least in part, on the extraction of cobalt in the DRC before it is shipped, mainly to China.

Cobalt is extracted as a byproduct of copper mining. Artisanal and small-scale mining and child labour remain a salient feature of cobalt extraction in the DRC. These miners receive little to no support and reflect the historical structural marginalisation created in the region.

Europeans settled in the city centre and locals in camps and informal areas. Junior Kannah/AFP/Getty Images

Lubumbashi serves as the mining headquarters of the southern DRC, and other cities, like Kolwezi, have grown rapidly in response to the surge in cobalt demand. Spatial and labour-related inequalities from the past are being replicated and expanded on in the present.

The DRC’s impoverishment continues apace as South African, Kazakh, Swiss and, with increasing influence, Chinese mining companies maintain their practice of exclusionary extraction, social displacement and political corruption.

Why this matters

Our research shows the importance of understanding the history of extraction and urban settlement in the region to shed light on new forms of old practices associated with decarbonisation. We see this as a continuing form of colonial power – as neocolonialism.

Contemporary debates around global inequalities associated with decarbonisation highlight how African populations must endure poor living conditions while the global north transitions to low-carbon technologies. We must find ways to move away from carbon-based economies that do not reproduce colonial inequalities.

Read more: Patrice Lumumba’s tooth represents plunder, resilience and reparation

Lubumbashi demonstrates the importance of African cities and resources in understanding critical global developmental and geopolitical issues.

For decarbonisation to be socially and environmentally just, it must contend with the people, places, and environments on which the future of low-carbon technology is based. Lubumbashi’s history shows how challenging this task will be.

– DRC: history is repeating itself in Lubumbashi as the world scrambles for minerals to go green
– https://theconversation.com/drc-history-is-repeating-itself-in-lubumbashi-as-the-world-scrambles-for-minerals-to-go-green-248571

MIL OSI Africa –

February 5, 2025
MIL-OSI Security: Defense News: NAVWAR at WEST 2025: The Future of Multi-Domain Warfare Demands Agility and Audacious Innovation

Source: United States Navy

As the premier naval conference and exposition on the West Coast, WEST offered industry and academia experts the valuable opportunity to engage with U.S. Navy, Marine Corps and Coast Guard leaders. Co-sponsored by Armed Forces Communications & Electronics Association (AFCEA) International and the U.S. Naval Institute (USNI), thousands of people attended at the San Diego Convention Center Jan. 28-30 to discuss the landscape of increasingly complex challenges in alignment with the theme: the future is now, are we advancing operational capabilities that pace the threat?

NAVWAR Commander Rear Adm. Seiko Okano, representing the command for the first time at WEST, highlighted her organization’s commitment to supporting the Fleet with next-generation capability. On a panel with other military and industry experts, they discussed how the Department of Defense (DOD) is accelerating software development in support of the Replicator initiative, a DOD-wide effort to fast-track the acquisition of thousands of all-domain attritable autonomous systems.

She highlighted the need for a shift in both culture and the development ecosystem, emphasizing that transformative change is essential for driving progress. “This isn’t a technology problem; this is a culture problem. The faster we figure out how to shift this together, I think we win,” she said. “The Navy has always prided itself on having brilliant technologists at our research labs, but we should also embrace the really fantastic solutions from industry that we can leverage to help us innovate at speed.”

On another panel with systems commanders from the Navy, Marine Corps and Coast Guard on acquisitions, Okano continued to speak about the unique role NAVWAR has in delivering innovative capability to the Fleet. “NAVWAR is at the center of a significant shift in warfare—where traditional domains are blurring, and the fight is increasingly multi-domain and multi-spectral. Our role is to deliver a decisive information advantage, requiring speed, agility and adaptability,” she said. “The challenge is breaking down silos, fostering collaboration and instilling a culture that embraces rapid change to meet the demands of modern conflict.”

During an informational brief about NAVWAR and its needs, John Pope, executive director of NAVWAR, reiterated the importance of rapid and easy adoption of new technologies. “In our world of information warfare, we need to be the ones who are the quickest to respond to what the Fleet needs,” he said. “To achieve that, we’re asking our workforce and our industry and academic partners to embrace our core values of audacious innovation and radical ownership to get after what we need to fix any outdated equipment until we can find modern solutions.”

At the Navy’s Information Warfare pavilion, experts from across the NAVWAR enterprise had a significant presence, interfacing with industry at engagement zones and presenting cutting-edge technology. From Naval Information Warfare Center (NIWC) Pacific; Program Executive Office (PEO) Digital and Enterprise Services (Digital); PEO Manpower, Logistics and Business Solutions (MLB); and PEO Command, Control, Communications, Computers and Intelligence (C4I), NAVWAR’s wide-ranging program offices were represented on the exhibit floor.

The tech demonstrations from NIWC Pacific showcased the latest and greatest from their labs, ranging from cloud development to cryogenic probes to a robot dog designed to assist in ship maintenance. One of the demos featured a Rapid Recreation into Modeling and Simulations (R2MS) tool, spearheaded by the Integrated Fires Team. This platform uses real-world data to create live virtual simulations at rapid speed, an invaluable tool for training and mission planning. “We’re exploring how AI and ML can take R2MS’ capabilities even further,” said Nadil Lopez, project manager for the Integrated Fires team. “There is a lot of untapped potential with this tool in creating complex and realistic environments for the Fleet.”

All of NAVWAR’s PEOs also had significant industry engagement throughout the course of WEST. Through PEO C4I’s annual Engagement Event and the joint PEO Digital/MLB Industry Open house, around 250 individual companies met government representatives and leaders for insightful and collaborative conversations across all three PEOs. NIWC Pacific program managers and technical leads also met with industry through the engagement zones to discuss their needs in an informal one-on-one discussion.

“As underscored by several of the leadership keynotes this year, the rapid pace of both technological and global change demand stronger partnerships across government, industry and academia,” said Michael McMillan, executive director of NIWC Pacific. “WEST 2025 provides NIWC Pacific the opportunity to showcase our latest innovations while forging connections that accelerate the transition of critical technologies from research and prototyping to operational capability. By strengthening collaborations today, we ensure our Navy remains ahead of tomorrow’s threats.”

Efforts from PEO Digital were also acknowledged at the Department of Navy (DON) Information Technology Excellence Awards, held Monday, Jan. 27 prior to WEST. In honor of leading Flank Speed Zero Trust, the DOD’s first zero trust compliance pilot, Darren Turner received the Person of the Year award for his exceptional leadership and dual roles for both DON Chief Information Officer (CIO) and PEO Digital’s technical director office. Zero trust is a network security philosophy that states no one inside or outside the network should be trusted unless their identification has been thoroughly checked. The Navy’s Flank Speed service currently delivers enhanced collaboration, productivity and robust zero trust security to more than half a million users worldwide, completed three years before the DON CIO’s 2027 deadline.

Rodrick Adams, the Marine Corps Logistics Integrated Information Systems (LI2S-MC) security manager at PEO MLB, was also recognized with a Fiscal Year 2024 Copernicus Award from AFCEA International and USNI. This award honors individual contributions to C4I, information systems, cyber operations and information warfare. Adams’ efforts in leading the planning, development and implementation of the Naval Identity Services effort for Global Combat Support System-Marine Corps led to greatly enhanced financial transaction security for its users.

In continuing its commitment to helping the Navy reach new heights in cybersecurity and information warfare capabilities, NAVWAR leverages next-generation tools like AI/ML and industry partnerships to further drive innovation. As the battlefield becomes more complex, their role in the future fight demands a culture shift driven by collaboration, adaptability and agility.

About NAVWAR:

NAVWAR identifies, develops, delivers and sustains information warfighting capabilities and services that enable naval, joint, coalition and other national missions operating in warfighting domains from seabed to space and through cyberspace. NAVWAR consists of more than 11,000 civilian, active duty and reserve professionals located around the world.

MIL Security OSI –

February 5, 2025
MIL-OSI Banking: Governors and Heads of Supervision endorse work programme of Basel Committee
Source: Bank for International Settlements
- The Basel Committee’s oversight body endorses the Committee’s work programme and strategic priorities for 2025-26.
- The programme prioritises work on Basel III implementation, emerging risks and vulnerabilities, digitalisation, and liquidity.
- GHOS members unanimously reaffirm their expectation to implement Basel III in full and consistently.
The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, met on 4 February to endorse the Committee’s work programme and strategic priorities for 2025-26.

The key themes of the Committee’s 2025-26 work programme include the following:

(i) Basel III implementation;

(ii) Risk assessment and safeguarding resilience, including the ongoing follow-up work in response to the lessons learnt from the March 2023 banking turmoil;

(iii) Digitalisation of finance; and

(iv) Liquidity.

The GHOS also agreed to take stock of the Committee’s work on climate-related financial risks later this year.

In undertaking its work, the Committee will continue to collaborate and cooperate with a wide range of stakeholders. This includes ongoing collaboration with other standard-setting bodies and international fora on cross-sectoral financial initiatives. The Committee will also continue to pursue its long-established approach of seeking the views and inputs of a wide range of external stakeholders.

All GHOS members unanimously reaffirmed their commitment to implement Basel III in full and consistently to ensure a global level playing field and to promote the resilience of the global banking system.

Tiff Macklem, Chair of the GHOS and Governor of the Bank of Canada

By promoting global cooperation and pursuing a forward-looking approach to mitigating emerging risks and vulnerabilities affecting the global banking system, the Committee’s 2025-26 work programme seeks to further strengthen the regulation, supervision and practices of banks worldwide, promote global financial stability and support long-term economic growth.

Erik Thedéen, Chair of the Basel Committee and Governor of Sveriges Riksbank

Note to editors:

The Basel Committee is the primary global standard setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters. Its mandate is to strengthen the regulation, supervision and practices of banks worldwide with the purpose of enhancing financial stability. The Committee reports to the Group of Central Bank Governors and Heads of Supervision and seeks its endorsement for major decisions. The Committee has no formal supranational authority, and its decisions have no legal force. Rather, the Committee relies on its members’ commitments to achieve its mandate. The Group of Central Bank Governors and Heads of Supervision is chaired by Tiff Macklem, Governor of the Bank of Canada. The Basel Committee is chaired by Erik Thedéen, Governor of Sveriges Riksbank.

More information about the Basel Committee is available here.
MIL OSI Global Banks –
February 5, 2025
MIL-OSI Banking: Samsung Blue Tag Sale: Supporting Wellness with Cutting-Edge Home Technology

Source: Samsung

Samsung’s Blue Tag Sale, currently on until 2 March 2025, is offering exclusive deals on advanced home appliances, electronics and devices that promote healthier living. With a focus on Home for Wellness, Samsung is committed to bringing cutting-edge technology that takes care of you and your well-being, balance, and sustainable living. From smart TVs and monitors to air-conditioners, fridges, and washing machines, Samsung is empowering individuals to make healthier choices, all from the comfort of their homes.

Samsung Smart TVs and Monitors: Wellness at Home
Samsung’s innovative Smart TVs and monitors are not only designed for entertainment but also as essential wellness tools for modern living. With an array of wellness apps, fitness programs, and guided meditation features, these displays encourage a holistic approach to health at home. Users can stream exercise routines, relaxation videos, and track their fitness progress—all through their Samsung TVs and monitors. Whether you’re looking to stay active, relax, or practice mindfulness, a Samsung TV or monitor can help you turn your home into a wellness hub.

Air-Conditioners: Breathing Easier with Clean Air
Samsung’s air-conditioners go beyond providing comfort with temperature regulation. They not only keep your room temperature comfortably in check, they also include a specialised filter to keep the air in your home clean and hygienic.

The Samsung WindFree Air Conditioners have a Tri-Care filter feature that is made up of three layers that reduce harmful particles to help maintain healthy indoor air quality, and has been certified by Intertek to reduce 99.9% of bacteria[1].

With smart sensors that monitor air conditions in real-time, Samsung air-conditioners adjust to your home’s needs, ensuring optimal temperature and air quality for a healthier, more comfortable living environment. Ideal for those looking to create a cleaner, fresher atmosphere at home, Samsung air-conditioners contribute to better breathing and overall well-being.

The WindFree also has a PM1.0 Filter that protects you from inhaling bacteria and tiny particles. It sterilises over 99% of bacteria[2].

As part of the Blue Tag Sale, Samsung is offering amazing discounts on select wellness-enhancing appliances, making it easier for you to invest in healthier living:

75 Inch QLED 4K Q60D Tizen OS Smart TV (2024) – QA75Q60DAKXXA. Now R17,999* (save R1,999). You can pair it with the Essential C-Series Soundbar (HW-C450) for R3,299*.
65 Inch Neo QLED 4K QN85D Tizen OS Smart TV (2024) – QA65QN85DBKXXA. Now R25,999* (save R2,000).
65″ DU7000 Crystal UHD 4K HDR Smart TV (UA65DU7000KXXA). Now R10,999* (save R1,000). Plus the Essential C-Series Soundbar HW-C400 (HW-C400/XA) at R1,299 (save R500).
34″ Odyssey G55T UWQHD 165Hz Gaming Monitor (LC34G55TWWPXEN). Now R9,999* (save R3,000).
32″ Smart Monitor M70D UHD, USB-C with Speakers & Remote (LS32DM702UAXXA). Now R7,999* (save R2,000).
AR9500T Wall-mount AC with Windfree TM and AI technology, 12000 BTU/h (AR12BSAAAWK/FA). Now R16,599* (save R3,000).

The Samsung Blue Tag Sale runs from 13 January – 2 March 2025, in Samsung stores, online, the Samsung Shop App, as well as participating retailers. Don’t miss out!

For more information, visit www.samsung.com/za

[1] Tested on Samsung AR9500T. The antiviral air filter (Tri-Care Filter) can remove up to 99.9% of the viruses based on Intertek Test.
**Staphylococcus aureus ATCC 6538, Klebsiella pneumoniae ATCC 4352
[2] Based on independent testing by Intertek. Removes 99.9% of Staphylococcus aureus and Escherichia coli collected on the electrostatic precipitator filter. Results may vary depending on environmental factors and individual use.
*Offers available at participating Retailers and Online Stores. T&Cs apply.
*Recommended Retail Price

MIL OSI Global Banks –

February 5, 2025
MIL-OSI United Kingdom: Council takes steps towards a firm financial footing
Source: City of Derby

Derby City Council will take the next step towards putting its finances on a firm footing when two reports go to Cabinet next week.

Budget proposals for 2025/26 have been refreshed since they went to public consultation, with money being put back into services and more going back into reserves. This is due to an additional £8.6 million of resources, over and above that which was assumed at the time of the budget report being issued for consultation following the Government’s finance settlement.

The Medium Term Financial Plan (MTFP), which will go to Cabinet on Wednesday 12 February, also sets out a plan to replenish the Council’s reserves over the next three years to bring them back to a healthy and sustainable level.

Nationally, the local government financial settlement put more money into social care, introduced a new recovery grant which favoured areas like Derby with high deprivation and a low Council Tax base, and gave a boost to areas in need of investment such as support for children with Special Educational Needs and Disabilities (SEND). The new Government has also said it’s committed to multi-year funding settlements but has not yet confirmed when this will happen.

For Derby City Council, this has meant an increase in core spending power by £22.6 million, which is an above average increase for the local government sector, along with continued investment into social care, a new prevention grant of £2 million to support children’s social care reform, and the recovery grant which resulted in £6.7 million for the city.

Some of the new things that have been added to the budget proposals as a result include:
- Additional provision for areas where demand continues to grow, such as homelessness
- Investment into SEND services, including two SEND officers
- £250,000 for Cultural Recovery, to support partners in the cultural industries facing significant financial challenges
- And additional £200,000 for the Council Tax hardship fund, to support households experiencing financial hardship
- An extra £100,000 to support the Market Hall in its first year of re-opening
- A neighbourhood manager, covering the city centre, to co-ordinate safety, vibrancy & partnership work.
- Investment into waste minimisation
- Additional capital investment for a new depot at Stores Road.
Councillor Kathy Kozlowski, Cabinet Member for Governance and Finance, said:

“After years of lobbying, the new Government is listening to councils and promising much-needed reform. We welcome the additional funding, which help us get on a stable footing for the future so we can continue to provide the services that our citizens need and want.

“While it is assumed in our funding settlement that Council Tax will increase in line with previous years, which is 4.99%, we’re committed to investing into services that matter the most to our residents, protecting the most vulnerable and putting the Council on the way to financial sustainability.

“We’re listening to the public about what they want in their city, and our proposed budget for 2025/2026 will prioritise tidier streets and green spaces, help our city centre feel safer and become more vibrant, and support children and adults who need our care.”

An update on the Council’s position at the end of Quarter 3 also goes to Cabinet on 12 February.

The pressure on the revenue budget is now at £6.37 million, a fall of £2.59 million since halfway through the financial year. Mitigation continues to reduce this figure even more by the end of March, to limit the use of reserves as much as possible.

All the savings identified for 2024/25 financial year are expected to be achieved by the end of financial year, leaving £117,000 of unachieved savings from the previous year to be carried over to next year.

Pressures remain in some services, such as homelessness, due to continued demand. People’s services, the Council department which looks after social care for adults and children, has a forecast overspend of £5.31m by the end of the year. However this is partly offset by an underspend by an underspend of £3.41 million in children’s services, which is due to the success of strategies developed in recent years to manage demand starting to see results.
MIL OSI United Kingdom –
February 5, 2025
MIL-OSI Russia: New Horizons for International Tourism Education: GUU and RIAT Sign Cooperation Agreement

Translartion. Region: Russians Fedetion –

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

On February 4, 2024, an agreement was signed between the State University of Management and the Russian International Academy of Tourism.

On behalf of GUU, the agreement was signed by Rector Vladimir Stroyev, on behalf of RIAT – by Rector Evgeny Trofimov. Also present at the meeting were Vice-Rector of our university Maria Karelina, Director of the Institute of Personnel Management, Social and Business Communications of GUU Alexey Chudnovsky, Vice-Rector and Dean of the Faculty of Tourism Management of RIAT Elena Aliluyko, Vice-Rector for Development of Master’s and Postgraduate Programs of the Academy of Tourism Tatyana Rassokhina and Director of the Center for International Educational Programs, Projects and Public Relations of RIAT Alexey Ryabov.

Welcoming the guests, Vladimir Stroyev noted that the Russian International Academy of Tourism has always been one of the leaders in its specialized sector. Now the state pays special attention to this area. Despite the fact that the key area for the State University of Management is industry management, tourism disciplines in the Institute of Management and Budgetary Culture are also in demand, so it makes sense to strengthen work in this area. Speaking about the international activities of the State University of Management, the rector reported that our university has a secretariat of the Eurasian Network University, which has recently been joined by educational institutions in Transnistria and Cuba, and Iran is showing increasing interest.

“In addition to love and friendship, ESU also has material contours: 345 places for additional professional education, a budgetary master’s program, the Eurasian Olympiad,” Vladimir Vitalyevich shared. The rector also spoke about the university’s work within the BRICS Business School and the foreign internships organized by the State University of Management for graduates of the Presidential Program for the Training of Management Personnel for the Organization of the National Economy of the Russian Federation – “also entrepreneurial tourism.”

Rector of the Russian Academic Materiel Union Evgeny Trofimov briefly spoke about the 55-year history of the academy, complained about the objective difficulties in developing international cooperation related to the geopolitical situation in the world, but at the same time noted the successes in maintaining business ties with the largest European universities and international tourism organizations, which warmly congratulated the Russian Academic Materiel Union on its anniversary in May. Some joint programs were successfully defended and will continue to operate. In addition, new agreements were signed with universities in India and the Philippines. Evgeny Nikolaevich reported that during the crisis in relations, the academy added new programs to its portfolio of educational services: customs, law, logistics, design and architecture. In total, the Russian Academic Materiel Union currently trains students in 28 areas. The academy has six branches: in Yerevan, Kazan, Pskov, two in the Moscow region and one in Moscow, at the Izmailovo hotel complex. Secondary vocational education is growing rapidly; the number of graduates has recently increased from 60 to 750 people per year.

Vladimir Stroyev specifically focused on the development of network educational programs at the State University of Management: “We clearly understood that no university, even a large and state-owned one, can advance its agenda alone. Universities now face so many important tasks that it is very difficult to cope with them on their own. Only together are we strong.”

Vice-Rector of the State University of Management Maria Karelina told the guests that Vladimir Stroyev and Alexey Chudnovsky were awarded the state prize in the field of education for organizing and conducting the “University Shifts” program, which is also related to tourism.

Alexey Chudnovsky thanked his colleagues for the visit and noted their long-term joint work on international programs. It is natural that our universities came to sign a cooperation agreement. First of all, the emphasis will be on combining efforts to develop international educational programs.

“They are of interest to your and our students, so we are taking the first step towards network agreements that will expand coverage and provide an opportunity to use each other’s network programs. Tourism is a messenger of peace, it must be taken seriously. We have something to offer each other, we are opening a second wind to international relations in the field of education and will work on additional agreements to give more opportunities to our common students,” Alexey Danilovich summed up the meeting.

Subscribe to the TG channel “Our GUU” Date of publication: 02/04/2025

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

MIL OSI Russia News –

February 5, 2025
MIL-OSI Global: DRC: history is repeating itself in Lubumbashi as the world scrambles for minerals to go green

Source: The Conversation – Africa – By Brandon Marc Finn, Research Scientist at the School for Environment and Sustainability, University of Michigan

Lubumbashi is a city in the mineral-rich Katanga region in the south of the Democratic Republic of Congo (DRC).

Many people might not have heard of it, but Lubumbashi and its surrounding region have been at the centre of global geopolitics since the start of the 20th century. The area provided immense sources of copper, a metal that helped electrify the planet in the 1900s. It was also the source of all the uranium for the atom bombs used in the second world war.

The global demand for these minerals came at a great price. Lubumbashi grew as a divided city where housing and labour were spatially and racially segregated. Congolese workers were exploited, abused and taxed as urban and mining strategies were used to reshape society.

History is repeating itself. Neocolonialism now shapes the extraction of DRC resources.

Read more:
DRC is the world’s largest producer of cobalt – how control by local elites can shape the global battery industry

Today, the southern DRC produces over 70% of the world’s cobalt. Cobalt is a mineral essential to decarbonisation – a strategy to reduce harmful carbon dioxide emissions. Cobalt is present in batteries in electric vehicles, mobile phones, laptop computers and renewable energy storage systems.

Like copper and uranium before it, cobalt mining has been linked to widescale exploitation and child labour. Corruption and elite capture remain defining features of mining in the DRC.

We are academics who research urbanisation, mining and sustainability as well as urban planning and environmental management. Our recent paper addresses the fact that African cities like Lubumbashi are at the heart of events that have shaped the modern world, yet they are woefully neglected in global urban theory (thinking about how cities form and develop) and urban geography.

Focusing on the global north and neglecting the south leads to major data gaps and contributes to mismatched and outdated urban policy.

We also argue that the human rights abuses and perils of today’s cobalt mining are new forms of old colonial practices. They strip the land and people of resources without proper pay. They offer green minerals to the global north at the cost of lives in the global south.

Sustainable cities and global decarbonisation are essential if we are to reduce cities’ carbon footprints and decarbonise economies in the face of the climate crisis.

Lubumbashi’s history, therefore, can offer a fuller understanding of the human and historical costs of minerals that shape cities – and the world.

A brief history of Lubumbashi

Lubumbashi was originally called Elisabethville. It was established by colonial Belgium in 1910 precisely to extract copper for global markets. This was done through a company named Union Minière du Haut Katanga (UMHK).

Concessionary companies made enormous profits in the Congo Free State between 1885 and 1908. The entire country stood under the private ownership of King Leopold II of Belgium. These companies were given the right to extract minerals and rubber through taxes imposed on local people.

The Belgian Compagnie du Katanga (which later founded UMHK) had the task of establishing the physical and economic infrastructure of the region. In exchange for laying the groundwork for the extractive industries, soon to be headquartered in Elisabethville, the company was given a third of all unoccupied land in Katanga. The Belgians established a copper smelter and constructed roads. Temporary headquarters were established to supervise Elisabethville’s expansion.

One initial method of controlling the local rural people was a “hut tax” that had to be paid to live in Lubumbashi. Later, a “head tax” was introduced to raise funds for colonial management. It forced people into labour as the only means to pay off their newly acquired debt to the colonial state.

Elisabethville served as the device to assert effective occupation. It also staved off the possibility of British occupation of the territory. The Belgians planned Elisabethville by reproducing the urban forms and racial segregation of Bulawayo’s grid in Southern Rhodesia (part of today’s Zimbabwe) and Johannesburg in South Africa.

UMHK dominated the colonial economy as demand for copper increased worldwide. UMHK also stipulated which seeds would be planted where for agriculture. It dissolved local markets and whipped labourers.

Copper was in such high demand because it is a non-corrosive material that conducts electricity well. It lined telegraph and electrical transmission cables across the globe.

Copper mining acted as a springboard from which UMHK could spread its influence. It developed railways, cities, labour camps and mining sites throughout Katanga.

This allowed UMHK access to the extraction of another resource that would shape the global geopolitical landscape: uranium – extracted from the Shinkolobwe mine in Katanga.

It was the Belgian colonial presence that allowed the US to have access to uranium deposits as they sought to beat Germany in the race to build atomic weapons. All the uranium used in the two nuclear bombs dropped on Hiroshima and Nagasaki came from Katanga.

This highlights the global significance of, but a neglected focus on, the impacts of mineral supply chains in the global south. Control over Lubumbashi’s minerals cannot be underplayed in this global historical event.

Katanga seceded from the Congo for three years, 11 days after the country gained independence from Belgium in 1960. The fight to gain control over Katanga’s resources led to the US and Belgian-backed assassination of the first independence leader, Patrice Lumumba. He was intent on reunifying Congo.

Mobutu Sese Seko became president of Zaire (today’s DRC) after a coup in 1965. He nationalised UMHK a year later. Mobutu served as president for almost 32 years, and his regime was characterised by autocratic corruption and economic exploitation.

Cobalt and global decarbonisation

The growth of modern technology relies, at least in part, on the extraction of cobalt in the DRC before it is shipped, mainly to China.

Cobalt is extracted as a byproduct of copper mining. Artisanal and small-scale mining and child labour remain a salient feature of cobalt extraction in the DRC. These miners receive little to no support and reflect the historical structural marginalisation created in the region.

Lubumbashi serves as the mining headquarters of the southern DRC, and other cities, like Kolwezi, have grown rapidly in response to the surge in cobalt demand. Spatial and labour-related inequalities from the past are being replicated and expanded on in the present.

The DRC’s impoverishment continues apace as South African, Kazakh, Swiss and, with increasing influence, Chinese mining companies maintain their practice of exclusionary extraction, social displacement and political corruption.

Why this matters

Our research shows the importance of understanding the history of extraction and urban settlement in the region to shed light on new forms of old practices associated with decarbonisation. We see this as a continuing form of colonial power – as neocolonialism.

Contemporary debates around global inequalities associated with decarbonisation highlight how African populations must endure poor living conditions while the global north transitions to low-carbon technologies. We must find ways to move away from carbon-based economies that do not reproduce colonial inequalities.

Read more:
Patrice Lumumba’s tooth represents plunder, resilience and reparation

Lubumbashi demonstrates the importance of African cities and resources in understanding critical global developmental and geopolitical issues.

For decarbonisation to be socially and environmentally just, it must contend with the people, places, and environments on which the future of low-carbon technology is based. Lubumbashi’s history shows how challenging this task will be.

Brandon Marc Finn has received funding from the University of Michigan and Harvard University to conduct this research.

Patrick Brandful Cobbinah has received research funding from the Lincoln Institute of Land Policy. He is a member of the Planning Institute of Australia.

– ref. DRC: history is repeating itself in Lubumbashi as the world scrambles for minerals to go green – https://theconversation.com/drc-history-is-repeating-itself-in-lubumbashi-as-the-world-scrambles-for-minerals-to-go-green-248571

MIL OSI – Global Reports –

February 5, 2025
MIL-OSI Global: Features like iPhone’s and Facebook’s ‘Memories’ can retraumatize survivors of abuse

Source: The Conversation – Canada – By Nicolette Little, Assistant lecturer, Media and Technology Studies, University of Alberta

While often considered harmless or fun, memory features on smartphones can have the opposite effect. (Shutterstock)

In contemporary digital society, remembering is automated. Social media platforms and smartphones often offer features like iPhone’s and Facebook’s “Memories” that resurface users’ past posts and photographs.

For many people, these reminders of the past are a source of joyful reminiscence. For others — like survivors of gender-based violence (GBV) — they can be harmful.

These nostalgia-driven Memories features enact what I call “platform violence:” unintended but harmful consequences, caused by automated features, designed to profit tech companies without adequately considering users’ well-being.

Algorithmic recall

Algorithms select and retrieve images from users’ digital archives, with the supposed goal of reminding users of happy moments. Introduced in 2018, Memories was promoted by Facebook’s product manager, Oren Hod, as a tool for improving mood and connection with others.

Yet these algorithms can get it wrong by bringing up painful, or even traumatic, memories instead. Writing about the feature in Forbes Magazine, Amit Chowdhry acknowledges that “memories … are not all positive.”

While Facebook’s algorithm attempts to filter out negative memories using keywords and feedback from users’ reactions, these safeguards are often inadequate. As my research has found, resurfaced photos of abusers can trigger emotional, psychological and even physiological distress for survivors of GBV.

When iPhone Memories draws images from a user’s Photos cache to create slideshows, smartphone users can be similarly triggered. The fact that these slideshows are set to cheerful music is something survivors find particularly “creepy,” as images of abusive exes scroll by.

Unexpectedly being presented with photographs from a phone archive can re-traumatize survivors.
(Shutterstock)

Familiar faces

GBV encompasses a spectrum of abusive behaviours, ranging from catcalling and rape jokes to sexual assault and femicide. In Canada, a woman dies every other day due to GBV, with intimate partner violence claiming a life every sixth day. One in four women reports GBV in their lifetime, although the actual number is higher due to fears of not being believed or stigmatization.

Particularly relevant to my research, in at least 80 per cent of cases, the perpetrator is someone the survivor knows, such as a partner, friend or family member. This makes it likely that survivors once shared social media connections or posted images with their abuser, increasing the risk these photos will resurface as a memory.

For survivors, encountering a photo of their abuser can be as traumatic as seeing them in person. In interviews with 15 survivors, all reported intense emotional reactions including panic, upset and physical symptoms like nausea and a racing heart. Those with post-traumatic stress disorder (PTSD) were particularly vulnerable to being triggered.

For instance, one participant, Nyla (names have been changed), described experiencing “full panic mode” and emotional shutdown for days after seeing a photo of her abusive ex-partner. Kelly, another participant, felt her “heart race” and avoided her smartphone and social media altogether. Other participants’ responses included feelings of social disconnection, fearfulness when out in public and mistrust of their own judgment of others. This presented barriers to forming new, healthy relationships.

Nancy, a survivor of an abusive relationship, recalled photos from the period when she was planning her escape.

“I look into my eyes in those photos and know I was secretly planning on leaving my partner,” she said. The resurfaced images were a “surreal” reminder of the facade she maintained during the final years of her marriage.

Mobile phones and social media are essential to daily life, and limiting their use can have a negative impact.
(Angelo Moleele/Unsplash), CC BY

Inclusive, safe design

Survivors often lack the familiarity with platforms’ settings to pre-emptively block or delete potentially triggering content. Even when settings exist, they are often buried in menus, hard to navigate or require survivors to manually confront and delete painful memories or photographs.

Once the survivor has been triggered, they often no longer have the emotional capacity to take the steps needed to delete or remove the upsetting memory at the time.

Recommendations like telling survivors to leave their device at home or deactivate their social media accounts place responsibility for addressing abuse on survivors, rather than perpetrators. Mobile phones and social media are essential to daily life, including for work, social interaction and access to safety-related services. Advising survivors to simply log off or avoid their devices shifts responsibility onto survivors and distracts from the underlying issues: society’s high rates of GBV and the need for safer, more inclusive design.

And inclusive design is needed: nostalgia-producing algorithms, as they currently function, disproportionately harm communities exposed to higher rates of violence, including women and LGBTQ+ and BIPOC individuals.

Opt-in rather than out

Interview subjects suggested that platforms require users to opt in if they wish to have their past resurfaced, rather than being forced to opt out, often after being triggered.

Tech developers, often from privileged backgrounds, fail to account for marginalized users’ experiences when designing features.

Platforms must prioritize user safety by making it easier to control and customize the memories that resurface. Settings for managing features like Memories should be accessible, easy to use and sensitive to the needs of those who have experienced trauma.

By recognizing the unintended consequences of algorithmically driven nostalgia, tech companies can take steps toward creating platforms that empower all users.

Nicolette Little receives funding from the Social Sciences and Humanities Research Council of Canada.

– ref. Features like iPhone’s and Facebook’s ‘Memories’ can retraumatize survivors of abuse – https://theconversation.com/features-like-iphones-and-facebooks-memories-can-retraumatize-survivors-of-abuse-231897

MIL OSI – Global Reports –

February 5, 2025
MIL-OSI Global: How food can be used to support people living with dementia

Source: The Conversation – Canada – By Navjot Gill-Chawla, Doctoral Candidate, Aging, Health and Well-being, University of Waterloo

From the aroma of freshly ground spices to the rhythmic sounds of a mortar and pestle, food evokes strong sensory memories, making it a powerful tool in dementia care. (Shutterstock)

As dementia rates rise globally, families and care partners are seeking ways to maintain meaningful connections with loved ones experiencing memory loss. In many cultures, food is central to cultural identity and family life.

Cooking traditional recipes can also a unique way to evoke memories and foster social connections. Familiar flavours, scents and cooking techniques can provide support and comfort to those living with dementia.

In South Asian cultures, food is deeply intertwined with identity, memory and relationships. From the aroma of freshly ground spices to the rhythmic sounds of a mortar and pestle, food evokes strong sensory memories, making it a powerful tool in dementia care.

When it comes to supporting people with dementia, food and cooking can be culturally relevant ways to enhance well-being, strengthen inter-generational bonds and preserve identity — making them an increasingly important tools in dementia care.

My research focuses on understanding the experiences of people living with dementia and their care partners in South Asian communities, and the importance of culturally inclusive care for dementia.

Food and memory

The connection between food and memory is well-documented. For individuals living with dementia who often experience memory loss and disorientation, familiar foods can trigger memories of specific events, places or people. For example, the scent of ghee-laden parathas or the sight of turmeric-coloured curries may evoke memories of childhood kitchens, family celebrations or community gatherings.

In South Asian communities, food is a cornerstone of cultural identity. Dishes are often tied to regional traditions, religious practices, and family legacies. For individuals living with dementia, preparing or consuming familiar foods can provide a sense of stability and continuity.

A person with dementia may find comfort in the ritual of making chai, even if they forget other aspects of their daily routine. Similarly, they might find joy in tasting the traditional foods of their region.

Dementia care often involves strategies that engage the senses to improve quality of life. Food offers a multi-sensory experience — taste, smell, touch, sight and even sound. For South Asian older adults, the act of rolling dough for rotis, smelling fragrant basmati rice or hearing the crackle of mustard seeds in hot oil can stimulate the senses and provide therapeutic benefits.

Engaging individuals in food preparation can also help maintain fine motor skills and foster a sense of purpose. Even simple tasks like peeling garlic, mixing spices or stirring a pot can provide opportunities for engagement and connection. Importantly, these activities do not need to be perfect — the process itself is valuable.

In cultures around the world, meals are rarely solitary. Food is inherently social, often prepared and shared among family members. For individuals living with dementia, mealtime can be an opportunity to strengthen familial bonds and reduce feelings of isolation. Sharing a meal allows care partners and family members to engage in meaningful interactions, even if verbal communication is limited.

Inter-generational cooking can be particularly engaging. Grandparents living with dementia can pass on recipes to their grandchildren, creating moments of joy and preserving cultural heritage. These interactions help younger generations understand dementia while fostering empathy and appreciation for their elders.

Adapting for dementia care

While traditional South Asian dishes can be comforting, they may need to be adapted for individuals living with dementia. For example, finger foods like pakoras or stuffed parathas can be easier to handle than dishes requiring utensils. Similarly, simplifying recipes with fewer ingredients or steps can make the cooking process more manageable for individuals living with dementia.

Nutritional considerations are also crucial. Many South Asian dishes are rich in fats, carbohydrates and spices, which may not align with the dietary needs of older adults. Modifying recipes to include more vegetables, lean proteins and lower salt levels can ensure that meals are both nutritious and culturally familiar.

Despite its benefits, using food as a tool for dementia care is not without challenges. Care partners often face time constraints, lack of resources or their own emotional burdens, which may limit their ability to engage in food-based activities. Additionally, some families may struggle to adapt traditional recipes, especially if they lack culinary skills or are unfamiliar with healthy substitutions.

Community support organizations can play a pivotal role in overcoming these barriers. Cooking workshops, memory cafés with food themes or culturally tailored resources can empower families to incorporate food into dementia care. For instance, community centres can organize events where older adults and care partners come together to prepare traditional meals, share recipes and build support networks.

Inter-generational cooking can be particularly engaging. Grandparents living with dementia can pass on recipes to their grandchildren, creating moments of joy and preserving cultural heritage.
(Shutterstock)

Culturally tailored dementia care

Integrating food into dementia care underscores the importance of culturally tailored approaches. Incorporating cultural elements like food acknowledges the holistic needs of individuals and their families. Health-care providers and community organizations must prioritize cultural humility, recognizing the unique role that food plays in the lives of South Asian families living with dementia.

In the journey of dementia care, food is more than a tool for nourishment. For South Asian communities, it is a source of connection, identity and healing. By integrating food into care practices, families and care partners can unlock its potential to evoke memories, strengthen relationships and improve the well-being of individuals living with dementia.

With culturally sensitive support and resources, food can become a powerful ally in navigating the complexities of dementia care, one bite, one memory and one story at a time.

Navjot Gill-Chawla 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. How food can be used to support people living with dementia – https://theconversation.com/how-food-can-be-used-to-support-people-living-with-dementia-248731

MIL OSI – Global Reports –

February 5, 2025
MIL-OSI: Canadian Nuclear Laboratories Expands Clean Energy Siting Invitation to Include Fusion, Hydrogen and Battery Storage

Source: GlobeNewswire (MIL-OSI)

CHALK RIVER, Ontario, Feb. 04, 2025 (GLOBE NEWSWIRE) — Canadian Nuclear Laboratories (CNL), Canada’s premier nuclear science and technology organization, is pleased to announce it has expanded the scope of its SMR siting invitation program to help organizations pursue commercial opportunities and seize a leadership position in the development and deployment of other new and innovative clean energy technologies.

Given the continued development of other novel technologies, and CNL’s growing capabilities and expertise across other clean energy categories, the program is being expanded beyond fission based SMRs and other advanced reactor designs. Now known as CNL’s Clean Energy Siting Program, the new program will also invite vendors and technology developers interested in building prototype solutions that include fusion-based technologies, hydrogen production, battery storage and clean fuel production facilities, among others. Overall, the intent is to support the Government of Canada achieve its net-zero objectives, help Canadians businesses develop new and innovative technologies, and make CNL’s resources available to the private sector.

“Through CNL’s ongoing engagements with clean energy leaders in Canada and around the world, it was clear there was an opportunity for us to expand and grow our SMR siting program, in order to support prototype construction and testing for other clean energy technologies,” commented Jack Craig, CNL’s President and CEO. “More importantly, Canada has set ambitious domestic targets in clean energy, and if we are to meet them, we must recognize that there is no one solution that will address a challenge of this scale and significance. To fight climate change and realize energy security, it will take all these promising technologies working in tandem with one another. That is at the heart of our renewed program, and it is our belief that we can help to accelerate the deployment of these promising technologies and maximize their full potential.”

As a federal Crown corporation, AECL owns and oversee the sites under management by CNL. “AECL is pleased to see the expansion of the siting program to include even more approaches to clean energy production, use, and storage,” said Fred Dermarkar, AECL’s President and CEO. “This is another example of the value of Canada’s investment in its national nuclear laboratories. Our model allows us to connect commercial and academic partners with Canada’s unique nuclear science assets. This new, expanded program could not be possible without the innovative collaboration between the federal government and the private sector. AECL is proud to facilitate this new invitation process,” added Dermarkar.

“CNL will continue to work closely with SMR vendors who are already navigating our siting program, and it is our hope that we will see an SMR sited at one of the sites we manage on behalf of AECL in the very near future,” added Dr. Stephen Bushby, CNL’s Vice-President of Science and Technology. “But given all the advances that have been realized in recent years across a number of different clean energy categories, it only makes sense that we expand our siting program to support the development of these technologies and do everything we can to bring them to the market.”

Under the renewed program, applicants pursuing a clean energy demonstration project must still proceed through four individual stages, though these phases have been updated to align with the more collaborative approach of the renewed program. Depending on the interest and suitability of the applications, these projects could be located at the Chalk River Laboratories or the Whiteshell Laboratories site. Both sites are located on the traditional lands, waterways and ceded and unceded territories of Indigenous peoples; meaningful engagement with Indigenous peoples will be a key component of any successful project.

While the invitation process does not include access to CNL’s research facilities or other ancillary programs, CNL is very much open to discussion with proponents regarding collaborative approaches to help advance their individual projects.

To learn more about CNL, including its new Clean Energy Siting Program please visit www.cnl.ca.

About CNL

As Canada’s premier nuclear science and technology laboratory and working under the direction of Atomic Energy of Canada Limited (AECL), CNL is a world leader in the development of innovative nuclear science and technology products and services. Guided by an ambitious corporate strategy known as Vision 2030, CNL fulfills three strategic priorities of national importance – restoring and protecting the environment, advancing clean energy technologies, and contributing to the health of Canadians.

By leveraging the assets owned by AECL, CNL also serves as the nexus between government, the nuclear industry, the broader private sector, and the academic community. CNL works in collaboration with these sectors to advance innovative Canadian products and services towards real-world use, including carbon-free energy, cancer treatments and other therapies, non-proliferation technologies and waste management solutions.

To learn more about CNL, please visit www.cnl.ca.

CNL Contact:
Philip Kompass
Director, Corporate Communications
1-866-886-2325
media@cnl.ca

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fb2b90fc-6df7-448e-af36-1cb5cfd85ce6

The MIL Network –

February 5, 2025
MIL-OSI: AssetMark Appoints Alex Pape as EVP and Chief Technology and Product Officer

Source: GlobeNewswire (MIL-OSI)

CONCORD, Calif., Feb. 04, 2025 (GLOBE NEWSWIRE) — AssetMark, Inc., a leading wealth management technology platform for financial advisors, today announced the appointment of Alex Pape as its new Chief Technology and Product Officer.

Pape will report directly to Lou Maiuri, Chairman and Group CEO of AssetMark, and will oversee AssetMark’s technology productization program, delivering advanced solutions designed to empower financial advisors. “This is a strategically important move as we continue to strengthen our leadership team to support AssetMark’s growth and innovation strategy,” said Lou Maiuri, Chairman and Group CEO of AssetMark Financial Holdings, Inc. “To achieve our strategic goals, we are further strengthening our already strong IT leadership team. Alex’s experience and vision will be invaluable as we continue to scale and innovate, ensuring that our technology and product offerings remain best-in-class.”

Pape brings extensive experience in technology and product development, having most recently served as the Global Head of Product for BlackRock’s Aladdin Wealth Tech Business. His experience at BlackRock reinforces AssetMark’s strategic direction, particularly as advisors increasingly seek solutions that offer highly personalized portfolio management for their clients. Pape’s expertise in leveraging data analytics and technology will be key to delivering innovative solutions for financial advisors.

Muk Mehta, Chief Information Officer, will continue to report to Maiuri, overseeing the company’s advanced infrastructure, security, and data strategy, ensuring seamless operational efficiency and technology enablement.

About AssetMark

AssetMark operates a wealth management platform whose mission is to help financial advisors and their clients. AssetMark, together with its affiliates AssetMark Trust Company, Voyant, and Adhesion Wealth Advisor Solutions, serves advisors at every stage of their journey with flexible, purpose-built solutions that champion client engagement and drive efficiency. Its ecosystem of solutions equips advisors with services and capabilities to help deliver better investor outcomes by enhancing their productivity, profitability, and client satisfaction.

With a history going back to 1996, AssetMark has over 1,000 employees, and its platform serves over 10,700 financial advisors and over 317,000 investor households. As of December 31, 2024, the Company had over $139 billion in platform assets. AssetMark, Inc. is a Registered Investment Adviser with the U.S. Securities and Exchange Commission. For more information, please visit www.assetmark.com. Follow us on LinkedIn.

Media Contacts
Vesselina Davenport
PR & Communications, AssetMark
vesselina.davenport@assetmark.com

The MIL Network –

February 5, 2025
MIL-OSI: FXBO and Deus X Pay Join Forces to Transform Payments in the Forex Industry
Source: GlobeNewswire (MIL-OSI)

VILNIUS, Lithuania, Feb. 04, 2025 (GLOBE NEWSWIRE) — FXBO, a provider of customer relationship management (CRM) solutions for forex brokers, has announced a partnership with Deus X Pay, a regulated institutional stablecoin payment provider. The collaboration aims to enhance brokerage operations by integrating stablecoin payment solutions within FXBO’s CRM platform.

FXBO offers tools designed to support brokerage firms in managing client relationships, improving retention, and facilitating client acquisition. Through this integration, brokers can access stablecoin payment functionalities while maintaining compliance with industry regulations.

Key Features of the FXBO and Deus X Pay Integration:
- Seamless Integration: Enables cryptocurrency deposits and withdrawals through a direct connection with FXBO’s CRM and back-office systems.
- Flexible SDK & Payment Links: Offers streamlined API integration and custom payment links to facilitate transactions.
- Dynamic Payment Processing: Supports overpayment and underpayment tolerances to minimize processing errors.
- Compliance and Security: Incorporates anti-money laundering (AML) measures and transaction monitoring to enhance regulatory compliance.
- Scalability and Cost Efficiency: Implements a zero-fee onboarding model with a pay-as-you-go pricing structure, supporting expansion into emerging markets.
Greg Gardner, Chief Commercial Officer of Deus X Pay, stated: “This partnership aligns with our objective of facilitating efficient and secure financial transactions for brokers. By incorporating stablecoin solutions, we aim to enhance payment processing within the FX sector.” Dmitriy Petrenko, Chief Executive Officer of FXBO, added: “The integration with Deus X Pay strengthens our platform by offering clients additional payment options that prioritize speed and security. This collaboration supports brokers in navigating an evolving financial landscape.”

This partnership underscores the growing intersection of digital assets and traditional finance, providing brokers with tools to enhance operational efficiency while ensuring compliance with regulatory requirements.

About FXBO

FXBO is a provider of advanced customer relationship management (CRM) solutions tailored for forex brokers. The platform offers a suite of tools designed to enhance client acquisition, retention, and operational efficiency. By integrating with payment providers and compliance solutions, FXBO supports brokers in managing their business effectively in a competitive trading environment.

About Deus X Pay

Deus X Pay is a regulated institutional stablecoin payment provider offering secure and compliant digital asset transaction solutions. The company enables businesses to integrate stablecoin payments, ensuring fast and efficient financial operations while maintaining regulatory compliance.

Contact
PR Manager
Tshego Tshangela
Deus X Pay
tshego.tshangela@deusxpay.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/34796b14-81f6-4a52-905e-b9320c6138e5

The MIL Network –
February 5, 2025
MIL-OSI: CORRECTION – ACNB Corporation Announces Completion of Traditions Bancorp, Inc. Acquisition

Source: GlobeNewswire (MIL-OSI)

GETTYSBURG, Pa., Feb. 04, 2025 (GLOBE NEWSWIRE) — In a release issued under the same headline on February 3, 2025 by ACNB Corporation please note that in the third paragraph of the release, the deposit amount has been corrected to $2.54 billion instead of $2.04 billion. The corrected release follows:

ACNB Corporation (NASDAQ: ACNB), the parent financial holding company of ACNB Bank, a Pennsylvania state-chartered, FDIC-insured community bank, headquartered in Gettysburg, PA, announced the completion of the acquisition of Traditions Bancorp, Inc. (“Traditions”) and its wholly-owned subsidiary, Traditions Bank, headquartered in York, PA, effective February 1, 2025. Traditions was merged with and into a wholly-owned subsidiary of ACNB Corporation immediately followed by the merger of Traditions Bank with and into ACNB Bank. ACNB Bank will operate the former Traditions Bank branches as “Traditions Bank, A Division of ACNB Bank”. In connection with the close of the acquisition, Traditions stockholders received 0.7300 shares of ACNB Corporation common stock for each share of Traditions common stock that they owned as of the closing date, with cash paid in lieu of fractional shares.

In addition, at the close of the acquisition, three former Traditions directors, Eugene J. Draganosky, Elizabeth F. Carson, and John M. Polli, joined the Boards of Directors of ACNB Corporation and ACNB Bank. Mr. Draganosky has nearly 40 years of banking experience, and is the former CEO and Chair of the Board of Traditions and Traditions Bank, having held those roles since 2017 and 2023, respectively. Ms. Carson, Lead Independent Director of Traditions, joined the Traditions Bank Board in 2015, after over 30 years of banking experience in a variety of leadership roles with community and regional banks. Mr. Polli was a member of the Traditions Bank board of directors since its founding in 2002, and has nearly 40 years of diverse business expertise, from serving as a public accountant to owning, managing, and advising businesses in the transportation, real estate, and insurance industries.

With the combination of the two organizations, and based on financial information for each organization as of December 31, 2024, ACNB Corporation will have approximately $3.26 billion in assets, $2.54 billion in deposits, and $2.36 billion in loans, and will serve its customers throughout 35 community banking offices in south central Pennsylvania and northern Maryland.

“We are pleased to announce the completion of our strategic acquisition of Traditions Bancorp, and excited to unite our teams of dedicated local bankers who are committed to their customers and communities,” stated ACNB Corporation President & Chief Executive Officer James P. Helt. “This combination brings together organizations that are unified by a shared vision, values, and a customer-centric approach to banking, to create an even stronger community bank. Importantly, our customers will benefit from expanded products and services delivered by the familiar faces they have come to know and trust. This merger positions us well to continue to grow in the attractive York and Lancaster County markets, and enhances ACNB Bank’s mortgage operations, which will now serve customers throughout our footprint as ‘Traditions Mortgage, A Division of ACNB Bank.’ Together, we look forward to continuing to deliver on our vision of being the financial services provider of choice in the communities we serve.”

Alan J. Stock, Chair of the Board of ACNB, stated “We welcome Mr. Draganosky, Ms. Carson, and Mr. Polli to the ACNB Boards of Directors, and are confident that their expertise, skills, and strong connections to the York and Lancaster market areas will enhance and complement ACNB’s current Boards of Directors. We are committed to enhancing value for our shareholders and are poised to deliver on that commitment with an experienced and knowledgeable board, a seasoned management group, and a team of bankers and professionals dedicated to a successful integration and customer experience.”

Bybel Rutledge LLP served as legal counsel and Piper Sandler served as financial advisor to ACNB Corporation for the transaction. Pillar + Aught served as legal counsel and Stephens Inc. served as financial advisor to Traditions Bancorp, Inc.

About ACNB Corporation
ACNB Corporation, headquartered in Gettysburg, PA, is the $3.26 billion financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and ACNB Insurance Services, Inc., Westminster, MD. Originally founded in 1857, ACNB Bank serves its marketplace with banking and wealth management services, including trust and retail brokerage, via a network of 35 community banking offices and two loan offices located in the Pennsylvania counties of Adams, Cumberland, Franklin, Lancaster and York and the Maryland counties of Baltimore, Carroll and Frederick. ACNB Insurance Services, Inc. is a full-service insurance agency with licenses in 46 states. The agency offers a broad range of property, casualty, health, life and disability insurance serving personal and commercial clients through office locations in Westminster and Jarrettsville, MD, and Gettysburg, PA. For more information regarding ACNB Corporation and its subsidiaries, please visit investor.acnb.com.

FORWARD-LOOKING STATEMENTS – In addition to historical information, this press release may contain forward-looking statements. Examples of forward-looking statements include, but are not limited to, (a) projections or statements regarding future earnings, expenses, net interest income, other income, earnings or loss per share, asset mix and quality, growth prospects, capital structure, and other financial terms, (b) statements of plans and objectives of Management or the Board of Directors, and (c) statements of assumptions, such as economic conditions in the Corporation’s market areas. Such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “intends”, “will”, “should”, “anticipates”, or the negative of any of the foregoing or other variations thereon or comparable terminology, or by discussion of strategy. Forward-looking statements are subject to certain risks and uncertainties such as national, regional and local economic conditions, competitive factors, and regulatory limitations. Actual results may differ materially from those projected in the forward-looking statements. Such risks, uncertainties, and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: short-term and long-term effects of inflation and rising costs on the Corporation, customers and economy; banking instability caused by bank failures and financial uncertainty of various banks which may adversely impact the Corporation and its securities and loan values, deposit stability, capital adequacy, financial condition, operations, liquidity, and results of operations; effects of governmental and fiscal policies, as well as legislative and regulatory changes; effects of new laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) and their application with which the Corporation and its subsidiaries must comply; impacts of the capital and liquidity requirements of the Basel III standards; effects of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters; ineffectiveness of the business strategy due to changes in current or future market conditions; future actions or inactions of the United States government, including the effects of short-term and long-term federal budget and tax negotiations and a failure to increase the government debt limit or a prolonged shutdown of the federal government; effects of economic conditions particularly with regard to the negative impact of any pandemic, epidemic or health-related crisis and the responses thereto on the operations of the Corporation and current customers, specifically the effect of the economy on loan customers’ ability to repay loans; effects of competition, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products and services; inflation, securities market and monetary fluctuations; risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities, and interest rate protection agreements, as well as interest rate risks; difficulties in acquisitions and integrating and operating acquired business operations, including information technology difficulties; challenges in establishing and maintaining operations in new markets; effects of technology changes; effects of general economic conditions and more specifically in the Corporation’s market areas; failure of assumptions underlying the establishment of reserves for credit losses and estimations of values of collateral and various financial assets and liabilities; acts of war or terrorism or geopolitical instability; disruption of credit and equity markets; ability to manage current levels of impaired assets; loss of certain key officers; ability to maintain the value and image of the Corporation’s brand and protect the Corporation’s intellectual property rights; continued relationships with major customers; and, potential impacts to the Corporation from continually evolving cybersecurity and other technological risks and attacks, including additional costs, reputational damage, regulatory penalties, and financial losses; and, the other factors detailed in ACNB’s publicly-filed documents, including its Annual Report on Form 10-K for the year ended December 31, 2023, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024, and its other filings with the SEC. We caution readers not to place undue reliance on these forward-looking statements. The forward-looking statements only speak as of the date hereof, and ACNB does assume any obligation to revise, update or clarify forward-looking statements to reflect events or conditions after the date of this press release.

ACNB #2025-5
February 3, 2025

Contact: Kevin Hayes
SVP/ General Counsel,
Secretary, and Chief
Governance Officer
717.339.5161
khayes@acnb.com

The MIL Network –

February 5, 2025
MIL-OSI: Kinematics Strengthens Global Leadership in Solar Tracker Intelligence with Completion of P4Q Acquisition

Source: GlobeNewswire (MIL-OSI)

PHOENIX, Feb. 04, 2025 (GLOBE NEWSWIRE) — Kinematics, a global leader in intelligent motion control, today announced the successful completion of its acquisition of P4Q. By integrating P4Q’s high-performance electronics portfolio—including over 1 million solar controllers deployed across 2,400 solar sites globally—with Kinematics’ installed base of 2.9 million solar actuators, the combined company becomes the world’s largest supplier of motion control technology for solar trackers supporting more than 134 gigawatts of solar installations worldwide.

Kinematics has gained P4Q’s expertise in full-stack electronics, including their market-leading tracker controls brand, Suntrack^®, to complement its innovative actuation systems. This acquisition allows Kinematics to provide a complete solution for solar tracker motion technology, simplifying design integration and supply for solar tracker OEMs, enabling the most advanced tracking systems for future installations and providing asset owners a path toward upgrading outdated systems.

“This acquisition creates increased scale, expanded global support, and unified motion control solutions,” said John Payne, CEO of Kinematics. “By combining our strengths, we’re setting new standards for intelligent solar tracking technology. Our expanded portfolio of solutions will improve solar plant production, increase reliability, and enhance value to accelerate the growth and adoption of solar energy on a global scale.”

“Our integration into Kinematics will enhance our business and create new opportunities for our team. Innovation is in our DNA, and we will continue providing disruptive solutions to our clients as well as excellent service,” said Aitor Alapont, CEO of P4Q.

A cornerstone of the combined offering is P4Q’s revolutionary Self-Powered Plus (SPP) Controller Technology. This innovative solution eliminates the need for traditional pony panels, freeing up space on the tracker surface, and reducing both capital expenditure and installation complexity, while also offering superior power availability under low irradiance conditions.

The acquisition builds on Kinematics’ recent innovations in motion control, including the breakthrough ST Series actuators launched in 2024. Featuring a maintenance-free design, the ST Series delivers up to 50% more holding torque in a smaller form factor, enhancing solar tracker performance and reliability – capabilities that will be further strengthened through the integration of both companies.

“This milestone will create synergies, expand our portfolio of products and services, and optimize our global operations, undoubtedly providing a significant boost to all our business verticals,” said Noemí Pérez, Commercial Director at P4Q.

The combined company will be headquartered in the U.S. with R&D in the U.S., Europe, and APAC. Kinematics will now have six manufacturing centers, including the U.S. and Europe, and seven service centers located globally.

About Kinematics
Founded in 1996, Kinematics is a global leader in precision motion control solutions, specializing in the design and manufacture of slew drives, slew rings, and actuation technology. With a strong focus on renewable energy, Kinematics supplies critical engineered systems, sensors, gears, and controllers that maximize the efficiency of solar installations worldwide, along with applications for the mobile industrial and satellite ground station sectors. The company is headquartered in Phoenix, Arizona, and operates globally with facilities in Asia and North America.

About P4Q
P4Q is a premier provider of IoT solutions, specializing in electronic devices, communication technologies, and cloud-based monitoring for solar tracking systems, medical diagnostic equipment, and more. The company also supports industries such as railway and industrial electronics. Renowned for its commitment to innovation and high-performance solutions, P4Q has established a strong reputation for excellence, particularly in the solar energy sector. Headquartered in Spain, P4Q serves clients across Europe, the Americas, and beyond.

Press Contact:
Matt Clarke
matt@teamsilverline.com
301.467.7332

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a835f342-87fb-45f3-a382-21134f6fc8a4

The MIL Network –

February 5, 2025
MIL-OSI Economics: Grenada: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Grenada

Source: International Monetary Fund

Summary

Through end-June 2024, Grenada’s economy was experiencing sustained strong growth supported by buoyant tourism, moderating inflation, and a narrowing current account deficit. A surge in Citizenship-by-Investment (CBI) revenue supported a strong improvement in budget balances, a build-up of government deposits, and a reduction in public debt. On July 1, Hurricane Beryl caused damage in excess of 16 percent of GDP on the Grenadian islands of Carriacou and Petite Martinique, as well as in the northern parishes of the main island, affecting around 15 percent of the population. In response, the authorities triggered the suspension of fiscal rules to permit temporary deficit spending in support of the recovery and reconstruction.

Subject: Credit bureaus, Debt sustainability, Economic sectors, Environment, External debt, Financial institutions, Financial markets, Imports, Insurance, International trade, Labor, Labor markets, Natural disasters, Public debt, Tourism

Keywords: Credit bureaus, Debt sustainability, Fiscal stance, Imports, Insurance, Insurance companies, Labor markets, Natural disasters, Tourism

MIL OSI Economics –

February 5, 2025

MIL-OSI Economics: IMF Executive Board Concludes 2024 Article IV Consultation with Grenada

Source: International Monetary Fund

February 4, 2025

Washington, DC: On January 24, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation^[1] with Grenada.

Through end-June 2024, Grenada’s economy was experiencing sustained strong growth supported by buoyant tourism, moderating inflation, and a narrowing current account deficit. A surge in Citizenship-by-Investment (CBI) revenue supported a strong improvement in the fiscal position and reduction in public debt. The financial system remained stable. On July 1, Hurricane Beryl caused damage in excess of 16 percent of GDP on the Grenadian islands of Carriacou and Petite Martinique, as well as in the northern parishes of the main island. The authorities responded swiftly with a package of fiscal measures, including suspension of fiscal rules to permit temporary deficit spending in support of the recovery and reconstruction.

Grenada’s near-term economic growth is projected to remain resilient at 3.9 percent in 2025, buoyed by limited hurricane damages to tourism infrastructure and the authorities’ large recovery and reconstruction spending. Sizable government savings and triggering of disaster-contingent instruments create fiscal space for these spending needs. Assuming a subsequent timely return to the fiscal rules, public debt is projected to continue falling and reach the debt target of 60 percent of GDP by 2030.

Over the medium-term GDP growth is projected to slow given the tourism sector operates near its peak-season capacity. Key downside risks include the threat of further natural disasters, potential shocks to tourism demand, and the uncertain scale of future CBI inflows, while the domestic non-bank financial system faces rising vulnerabilities from the continued rapid expansion of credit unions and the rising costs of property insurance. Prospective hotel developments and public investment projects represent upside risks to the medium-term growth outlook.

Executive Board Assessment^[2]

Executive Directors agreed with the thrust of the staff appraisal. They welcomed Grenada’s robust economic performance in 2023 and the first half of 2024, buoyed by strong tourism. Directors also commended the authorities’ swift and prudently tailored response to Hurricane Beryl, which supported disaster-relief and helped mitigate the impact on economic growth. Noting that the medium-term outlook remains subject to risks from natural disasters, uncertain Citizenship-by-Investment (CBI) flows, and other external shocks, they encouraged the authorities to exercise continued fiscal prudence and to pursue structural reforms to boost long-term growth and enhance resilience, while leveraging Fund technical assistance.

Directors welcomed Grenada’s commitment to fiscal prudence and debt sustainability and emphasized the importance of a timely return to the suspended fiscal rules. In that context, they noted the need for continued expenditure prioritization and revenue mobilization to create fiscal space for future investment needs, including for climate resilience. Further strengthening public investment management and budget planning processes would also be important. Directors also saw merit in developing a more uniform framework for managing all CBI resources and encouraged continued progress in resolving outstanding official arrears.

Directors welcomed the banking system’s resilience despite repeated shocks. They emphasized the need for vigilance and strengthened oversight in the rapidly expanding credit union sector. Directors encouraged strengthening data collection and regional collaboration in the property insurance sector, given rising premiums. They also agreed that further enhancements in the AML/CFT frameworks are essential, including to safeguard correspondent banking relationships.

Directors commended the authorities’ implementation of Grenada’s Disaster Resilience Strategy including investments in a risk-layering framework of disaster-contingency insurance and financing instruments. Moving forward and noting the risk of future natural disasters, they emphasized the importance of further advancing the energy transition and investment in disaster resilient infrastructure, with support from private financing.

Directors also encouraged sustained structural reform efforts to foster long-term growth, including investing in active labor market policies and continuing efforts to support off-season and niche tourism. Addressing data gaps is also important.

It is expected that the next Article IV Consultation with Grenada will be held on the standard 12-month consultation cycle.

Table 1. Grenada: Selected Social and Economic Indicators, 2019–29


Rank in UNDP Human Development Index			73		Infant mortality rate per ‘000 births (2021)						14.4
out of 189 countries (2021)					Adult illiteracy rate in percent (2014)						1
Life expectancy at birth in years (2021)			75		Poverty rate in percent of population (2019)						25
GDP per capita in US$ (2021)			10,449
Population in millions (2021)			0.13		Unemployment rate (2021 Q2)						11.1

	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028	2029
					Est.			Proj.
National income and prices
GDP at constant prices	0.7	-13.8	4.7	7.3	4.7	3.6	3.9	3.3	2.7	2.7	2.7
GDP deflator	3.3	-0.3	2.8	2.2	2.7	1.4	1.4	2.0	2.0	2.0	2.0
Consumer prices, end of period	0.1	-0.8	1.9	2.9	2.2	1.2	1.9	2.0	2.0	2.0	2.0

Money and credit, end of period
Credit to private sector	1.4	3.1	3.8	2.1	3.8	3.8	4.2	4.4	4.6	4.5	4.5
Broad money (M2)	2.9	9.1	8.5	9.9	1.4	3.7	5.2	5.4	4.8	4.8	4.8

Central government balances (accrual)
Revenue and grants	26.6	28.1	31.5	32.7	36.9	44.1	30.5	29.3	29.2	28.9	28.8
Expenditure	21.6	32.7	31.2	31.8	28.9	39.5	39.4	33.1	29.6	29.2	28.9
o.w. Capital expenditure	2.6	9.6	8.6	10.2	9.3	11.7	12.2	8.7	6.2	5.8	5.6
Primary balance	6.8	-2.6	2.1	2.6	9.5	8.0	-5.1	-1.2	1.5	1.5	1.5
Overall balance	5.0	-4.5	0.3	1.0	8.0	4.7	-8.9	-3.8	-0.4	-0.3	-0.1

Central government debt (incl. guaranteed) 1/	58.5	71.4	70.0	62.8	60.5	59.3	58.1	53.9	53.2	51.4	49.6
Domestic	14.6	16.2	15.3	12.8	11.3	11.1	9.7	7.8	7.1	6.9	7.0
External	44.0	55.2	54.7	50.0	49.2	48.2	48.5	46.1	46.0	44.5	42.6
Public debt (incl. debt of SOEs and SBs)	62.7	89.5	86.6	78.8	75.2	73.3	71.4	66.5	65.2	62.9	60.6

Savings-Investment balance	-10.4	-16.1	-14.5	-11.0	-9.1	-13.1	-13.8	-10.6	-9.9	-9.1	-9.1
Savings	14.6	16.3	15.6	18.0	30.8	28.3	18.1	17.8	15.8	15.3	14.9
Investment	24.9	32.4	30.1	29.1	39.9	41.5	31.9	28.4	25.7	24.5	24.0

External Sector
Gross international reserves (millions of dollars)	234.1	290.9	324.2	352.6	389.1	435.1	364.5	364.8	390.3	405.6	424.6
(in months of imports)	5.2	5.6	4.9	5.0	4.8	5.2	4.3	4.2	4.3	4.3	4.3
Current account balance, o/w:	-10.4	-16.1	-14.5	-11.0	-9.1	-13.1	-13.8	-10.6	-9.9	-9.1	-9.1
Exports of goods and services	54.6	41.1	47.9	57.8	62.8	63.8	62.5	62.8	63.0	62.6	62.3
Imports of goods and services	55.8	52.2	55.4	64.3	63.7	69.9	68.5	65.6	65.0	63.8	63.4
External debt (gross)	64.7	92.5	94.8	90.0	86.9	85.4	85.4	82.6	82.3	80.5	78.4

Sources: Ministry of Finance; Eastern Caribbean Central Bank; United Nations, Human Development Report; World Bank WDI; and IMF staff estimates and projections.
1/ Includes the impact of the debt restructuring agreement for the 2025 bonds.

[1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

[2] At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Meera Louis

Phone: +1 202 623-7100Email: MEDIA@IMF.org

MIL OSI Economics –

February 5, 2025

MIL-OSI USA: CFTC Staff Issues No-Action Letter to Korea Exchange Concerning the Offer or Sale of KOSPI and Mini KOSPI 200 Futures Contracts

Source: US Commodity Futures Trading Commission

CFTC Staff Issues No-Action Letter to Korea Exchange Concerning the Offer or Sale of KOSPI and Mini KOSPI 200 Futures Contracts | CFTC

/PressRoom/PressReleases/9043-25
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February 04, 2025

WASHINGTON, D.C. — The Commodity Futures Trading Commission’s Division of Market Oversight today issued a no-action letter stating it will not recommend the CFTC take enforcement action against Korea Exchange (KRX) for the offer or sale of Korea Composite Stock Price Index (KOSPI) 200 Futures Contracts and Mini KOSPI 200 Futures Contracts to persons located within the United State while the Commission’s review of KRX’s forthcoming request for certification of the contracts under CFTC Regulation 30.13 is pending. DMO issued similar letters when the KOSPI 200 became a broad-based security index in 2021 and 2022. [See CFTC Press Release Nos. 8464-21 and 8610-22]
The KOSPI 200 became a narrow-based security index in February 2024. Futures contracts on narrow-based security indexes are subject to joint CFTC and Securities and Exchange Commission jurisdiction. Futures contracts on non-narrow-based (also known as broad-based) security indexes are subject to exclusive CFTC jurisdiction.
The KOSPI 200 is set to become a broad-based security index on February 6, 2025, and the no-action position in DMO’s letter will be effective on that date.

-CFTC-

MIL OSI USA News –

February 5, 2025
MIL-OSI: Portfolio Update: Sale of portfolio company Hospital Services Group delivers up to 8.5x return for Foresight VCT PLC

Source: GlobeNewswire (MIL-OSI)

The Board of Foresight VCT Plc (the “Company”) is pleased to announce the successful sale of portfolio company Hospital Services Group Limited (“HSL”), a leading healthcare equipment distributor and service provider operating in Ireland, Northern Ireland and Great Britain.

The transaction generated proceeds of £26.2 million at completion with potential for a further up to £1.0 million over the coming years, implying a return and IRR of up to 8.5 times the original investment and 25.7% respectively. Prior to the sale of HSL, the Company’s NAV per ordinary share stood at 80.1p, to which the exit will add 1.7p, giving a pro forma NAV per ordinary share of 81.8p.

Since the original investment, the manager, Foresight Group LLP, has taken a proactive approach to supporting HSL and the business has successfully completed a series of acquisitions, broadened and strengthened the management team and expanded the range of healthcare equipment and services provided Ireland, Northern Ireland and Great Britain.

Headcount has increased almost sixfold since Foresight’s initial investment, with revenues increasing approximately ninefold.

Margaret Littlejohns, Chair of Foresight VCT Plc said: “HSL has grown into a market-leading healthcare company in the UK and Ireland. With Foresight Group’s support, both financial and strategic, it has made a series of value-enhancing acquisitions and delivered strong organic growth. We are delighted with this performance and wish the team every success in the future.”

The MIL Network –

February 5, 2025
MIL-OSI: Portfolio Update: Sale of portfolio company Hospital Services Group delivers up to 8.4x return for Foresight Enterprise VCT PLC

Source: GlobeNewswire (MIL-OSI)

The Board of Foresight Enterprise VCT Plc (the “Company”) is pleased to announce the successful sale of portfolio company Hospital Services Group Limited (“HSL”), a leading a leading healthcare equipment distributor and service provider operating in Ireland, Northern Ireland and Great Britain.

The transaction generated proceeds of £9.3 million at completion with potential for a further up to £0.4 million in the coming years, implying a return and IRR of up to 8.4 times the original investment and 25.7% respectively. Prior to the sale of HSL, the Company’s NAV per ordinary share stood at 54.3p, to which the exit will add 0.6p, giving a pro forma NAV per ordinary share of 54.9p.

Since the original investment, the manager, Foresight Group LLP, has taken a proactive approach to supporting HSL and the business has successfully completed a series of acquisitions, broadened and strengthened the management team and expanded the range of healthcare equipment and services provided across Ireland, Northern Ireland and Great Britain

Headcount has increased almost sixfold since Foresight’s initial investment, with revenues increasing approximately ninefold.

Michael Gray, Chair of Foresight Enterprise VCT: “Hospital Services Group Limited has grown into a leading specialist healthcare distribution company, supplying and maintaining technology that play an essential role in early disease detection.

“We are delighted with the progress the team has made since our initial investment. Highlights include a number of key strategic acquisitions, which have delivered impressive revenue and employment growth. We wish this entrepreneurial management team every success moving forward.”

The MIL Network –

February 5, 2025

MIL-OSI Russia: IMF Executive Board Concludes 2024 Article IV Consultation with Grenada

Source: IMF – News in Russian

February 4, 2025

Washington, DC: On January 24, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation^[1] with Grenada.

Executive Board Assessment^[2]

It is expected that the next Article IV Consultation with Grenada will be held on the standard 12-month consultation cycle.

Table 1. Grenada: Selected Social and Economic Indicators, 2019–29


Rank in UNDP Human Development Index			73		Infant mortality rate per ‘000 births (2021)						14.4
out of 189 countries (2021)					Adult illiteracy rate in percent (2014)						1
Life expectancy at birth in years (2021)			75		Poverty rate in percent of population (2019)						25
GDP per capita in US$ (2021)			10,449
Population in millions (2021)			0.13		Unemployment rate (2021 Q2)						11.1

	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028	2029
					Est.			Proj.
National income and prices
GDP at constant prices	0.7	-13.8	4.7	7.3	4.7	3.6	3.9	3.3	2.7	2.7	2.7
GDP deflator	3.3	-0.3	2.8	2.2	2.7	1.4	1.4	2.0	2.0	2.0	2.0
Consumer prices, end of period	0.1	-0.8	1.9	2.9	2.2	1.2	1.9	2.0	2.0	2.0	2.0

Money and credit, end of period
Credit to private sector	1.4	3.1	3.8	2.1	3.8	3.8	4.2	4.4	4.6	4.5	4.5
Broad money (M2)	2.9	9.1	8.5	9.9	1.4	3.7	5.2	5.4	4.8	4.8	4.8

Central government balances (accrual)
Revenue and grants	26.6	28.1	31.5	32.7	36.9	44.1	30.5	29.3	29.2	28.9	28.8
Expenditure	21.6	32.7	31.2	31.8	28.9	39.5	39.4	33.1	29.6	29.2	28.9
o.w. Capital expenditure	2.6	9.6	8.6	10.2	9.3	11.7	12.2	8.7	6.2	5.8	5.6
Primary balance	6.8	-2.6	2.1	2.6	9.5	8.0	-5.1	-1.2	1.5	1.5	1.5
Overall balance	5.0	-4.5	0.3	1.0	8.0	4.7	-8.9	-3.8	-0.4	-0.3	-0.1

Central government debt (incl. guaranteed) 1/	58.5	71.4	70.0	62.8	60.5	59.3	58.1	53.9	53.2	51.4	49.6
Domestic	14.6	16.2	15.3	12.8	11.3	11.1	9.7	7.8	7.1	6.9	7.0
External	44.0	55.2	54.7	50.0	49.2	48.2	48.5	46.1	46.0	44.5	42.6
Public debt (incl. debt of SOEs and SBs)	62.7	89.5	86.6	78.8	75.2	73.3	71.4	66.5	65.2	62.9	60.6

Savings-Investment balance	-10.4	-16.1	-14.5	-11.0	-9.1	-13.1	-13.8	-10.6	-9.9	-9.1	-9.1
Savings	14.6	16.3	15.6	18.0	30.8	28.3	18.1	17.8	15.8	15.3	14.9
Investment	24.9	32.4	30.1	29.1	39.9	41.5	31.9	28.4	25.7	24.5	24.0

External Sector
Gross international reserves (millions of dollars)	234.1	290.9	324.2	352.6	389.1	435.1	364.5	364.8	390.3	405.6	424.6
(in months of imports)	5.2	5.6	4.9	5.0	4.8	5.2	4.3	4.2	4.3	4.3	4.3
Current account balance, o/w:	-10.4	-16.1	-14.5	-11.0	-9.1	-13.1	-13.8	-10.6	-9.9	-9.1	-9.1
Exports of goods and services	54.6	41.1	47.9	57.8	62.8	63.8	62.5	62.8	63.0	62.6	62.3
Imports of goods and services	55.8	52.2	55.4	64.3	63.7	69.9	68.5	65.6	65.0	63.8	63.4
External debt (gross)	64.7	92.5	94.8	90.0	86.9	85.4	85.4	82.6	82.3	80.5	78.4

Sources: Ministry of Finance; Eastern Caribbean Central Bank; United Nations, Human Development Report; World Bank WDI; and IMF staff estimates and projections.
1/ Includes the impact of the debt restructuring agreement for the 2025 bonds.

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Meera Louis

Phone: +1 202 623-7100Email: MEDIA@IMF.org

https://www.imf.org/en/News/Articles/2025/02/03/pr25026-grenada-imf-executive-board-concludes-2024-article-iv-consultation

MIL OSI

MIL OSI Russia News –

February 5, 2025

MIL-OSI Canada: Investor Alert: Maple Bit Is Not Registered
Source: Government of Canada regional news

Released on February 4, 2025

The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns investors of the online entity known as Maple Bit.

“We encourage Saskatchewan residents to check the registration status of any investment entity at aretheyregistered.ca before considering investing with them,” FCAA Securities Division Executive Director Dean Murrison said. “Checking the registration status is easy and ensures that who you work with is reputable.”

Maple Bit claims to offer Saskatchewan residents trading opportunities, including cryptocurrencies, stocks, forex, exchange-traded funds (ETFs), commodities, indices and contracts for difference (CFDs).

This alert applies to the online entity using the website “maple-bit com” (this URL has been manually altered so as not to be interactive).

Maple Bit is not registered with the FCAA to trade or sell securities or derivatives in Saskatchewan. The FCAA cautions investors and consumers not to send money to companies that are not registered in Saskatchewan, as they may not be legitimate businesses.

If you have invested with Maple Bit or anyone claiming to be acting on their behalf, contact the FCAA’s Securities Division at 306-787-5936.

In Saskatchewan, individuals or companies need to be registered with the FCAA to trade or sell securities or derivatives. The registration provisions of The Securities Act, 1988, and accompanying regulations are intended to ensure that only honest and knowledgeable people are registered to sell securities and derivatives and that their businesses are financially stable.

Tips to protect yourself:
- Always verify that the person or company is registered in Saskatchewan to sell or advise about securities or derivatives. To check registration, visit The Canadian Securities Administrators’ National Registration Search at aretheyregistered.ca.
- Know exactly what you are investing in. Make sure you understand how the investment, product, or service works.
- Get a second opinion and seek professional advice about the investment.
- Do not allow unknown or unverified individuals to remotely access your computer.
-30-

For more information, contact:

MIL OSI Canada News –
February 5, 2025

MIL-OSI: First Financial Corporation Reports 2024 Results

Source: GlobeNewswire (MIL-OSI)

TERRE HAUTE, Ind., Feb. 04, 2025 (GLOBE NEWSWIRE) — First Financial Corporation (NASDAQ:THFF) today announced results for the fourth quarter of 2024.

Net income was $16.2 million compared to $12.4 million reported for the same period of 2023;
Diluted net income per common share of $1.37 compared to $1.06 for the same period of 2023;
Return on average assets was 1.18% compared to 1.05% for the three months ended December 31, 2023;
Credit loss provision was $2.0 million compared to provision of $2.5 million for the fourth quarter 2023; and
Pre-tax, pre-provision net income was $22.3 million compared to $16.6 million for the same period in 2023.¹

The Corporation further reported results for the year ended December 31, 2024:

Net income was $47.3 million compared to $60.7 million reported for the same period of 2023;
Diluted net income per common share of $4.00 compared to $5.08 for the same period of 2023;
Return on average assets was 0.92% compared to 1.26% for the twelve months ended December 31, 2023;
Credit loss provision was $16.2 million compared to provision of $7.3 million for the twelve months ended December 31, 2023; and
Pre-tax, pre-provision net income was $73.4 million compared to $79.7 million for the same period in 2023.¹

______________________________
¹Non-GAAP financial measure that Management believes is useful for investors and management to understand pre-tax profitability before giving effect to credit loss expense and to provide additional perspective on the Corporation’s performance over time as well as comparison to the Corporation’s peers and evaluating the financial results of the Corporation – please refer to the Non GAAP reconciliations contained in this release.

Average Total Loans

Average total loans for the fourth quarter of 2024 were $3.79 billion versus $3.13 billion for the comparable period in 2023, an increase of $657 million or 20.98%. On a linked quarter basis, average loans increased $84.7 million or 2.29% from $3.71 billion as of September 30, 2024. Increases in average loans year-over-year were mostly a result of the acquisition of SimplyBank on July 1, 2024.

Total Loans Outstanding

Total loans outstanding as of December 31, 2024, were $3.84 billion compared to $3.17 billion as of December 31, 2023, an increase of $669 million or 21.13%. On a linked quarter basis, total loans increased $122 million or 3.28% from $3.72 billion as of September 30, 2024. The year-over-year increase was impacted by the $467 million in loans acquired in the SimplyBank acquisition. Organic growth was primarily driven by increases in Commercial Construction and Development, Commercial Real Estate, and Consumer Auto loans.

Norman D. Lowery, President and Chief Executive Officer, commented “We experienced another sound quarter of loan growth and record net interest income. During the quarter our net interest margin expanded, and we expect continued improvement in coming quarters.”

Average Total Deposits

Average total deposits for the quarter ended December 31, 2024, were $4.76 billion versus $4.05 billion as of December 31, 2023, an increase of $706 million or 17.44%. Increases in average deposits year-over-year were mostly a result of the acquisition of SimplyBank. On a linked quarter basis, average deposits increased $52 million, or 1.10% from $4.71 billion as of September 30, 2024.

Total Deposits

Total deposits were $4.72 billion as of December 31, 2024, compared to $4.09 billion as of December 31, 2023, a $629 million increase, or 15.37%. On a linked quarter basis, total deposits increased $1.4 million, or 0.03%. $622 million in deposits were acquired in the SimplyBank acquisition. Non-interest bearing deposits were $859.0 million, and time deposits were $749.4 million as of December 31, 2024, compared to $750.3 million and $515.7 million, respectively for the same period of 2023.

Shareholders’ Equity

Shareholders’ equity at December 31, 2024, was $549.0 million compared to $528.0 million on December 31, 2023. During the last twelve months, the Corporation has not repurchased any shares of its common stock. 518,860 shares remain available for repurchase under the current repurchase authorization. The Corporation paid a $0.45 per share quarterly dividend in October and declared a $0.51 quarterly dividend, which was paid on January 15, 2025.

Book Value Per Share

Book Value per share was $46.36 as of December 31, 2024, compared to $44.76 as of December 31, 2023, an increase of $1.60 per share, or 3.57%. Tangible Book Value per share was $36.10 as of December 31, 2024, compared to $36.91 as of December 31, 2023.

Tangible Common Equity to Tangible Asset Ratio

The Corporation’s tangible common equity to tangible asset ratio was 7.86% at December 31, 2024, compared to 9.15% at December 31, 2023.

Net Interest Income

Net interest income for the fourth quarter of 2024 was a record $49.6 million, compared to $39.6 million reported for the same period of 2023, an increase of $10.0 million, or 25.29%.

Net Interest Margin

The net interest margin for the quarter ended December 31, 2024, was 3.94% compared to the 3.63% reported at December 31, 2023. On a linked quarterly basis, the net interest margin increased 16 basis points from 3.78% at September 30, 2024.

Nonperforming Loans

Nonperforming loans as of December 31, 2024, were $13.3 million versus $24.6 million as of December 31, 2023. The ratio of nonperforming loans to total loans and leases was 0.35% as of December 31, 2024, versus 0.78% as of December 31, 2023. The decrease in nonperforming loans is due to a commercial relationship that was downgraded in fourth quarter 2023 and subsequently resolved in 2024.

Credit Loss Provision

The provision for credit losses for the three months ended December 31, 2024, was $2.0 million, compared to $2.5 million for the fourth quarter 2023.

Net Charge-Offs

Fourth quarter net charge-offs were $1.4 million compared to $1.8 million in the same period of 2023.

Allowance for Credit Losses

The Corporation’s allowance for credit losses as of December 31, 2024, was $46.7 million compared to $39.8 million as of December 31, 2023. The allowance for credit losses as a percent of total loans was 1.22% as of December 31, 2024, compared to 1.26% as of December 31, 2023. On a linked quarter basis, the allowance for credit losses as a percent of total loans decreased 2 basis points from 1.24% as of September 30, 2024. The Corporation recorded $8.5 million in allowance for the acquisition of SimplyBank, which included $3 million to record purchased credit deteriorated (“PCD”) reserves.

Non-Interest Income

Non-interest income for the three months ended December 31, 2024 and 2023 was $12.2 million and $11.2 million, respectively.

Non-Interest Expense

Non-interest expense for the three months ended December 31, 2024, was $39.8 million compared to $34.2 million in 2023. This includes an overall increase in operating expenses as a result of the acquisition.

Efficiency Ratio

The Corporation’s efficiency ratio was 62.98% for the quarter ending December 31, 2024, versus 65.62% for the same period in 2023.

Income Taxes

Income tax expense for the three months ended December 31, 2024, was $3.8 million versus $1.7 million for the same period in 2023. The effective tax rate for 2024 was 17.28% compared to 16.31% for 2023.

About First Financial Corporation

First Financial Corporation (NASDAQ:THFF) is the holding company for First Financial Bank N.A., which is the fifth oldest national bank in the United States, operating 83 banking centers in Illinois, Indiana, Kentucky, Tennessee, and Georgia. Additional information is available at www.first-online.bank.

Investor Contact:
Rodger A. McHargue
Chief Financial Officer
P: 812-238-6334
E: rmchargue@first-online.com



	Three Months Ended						Year Ended
	December 31,		September 30,		December 31,		December 31,		December 31,
	2024		2024		2023		2024		2023
END OF PERIOD BALANCES
Assets	$	5,560,348	$	5,483,351	$	4,851,146	$	5,560,348	$	4,851,146
Deposits	$	4,718,914	$	4,717,489	$	4,090,068	$	4,718,914	$	4,090,068
Loans, including net deferred loan costs	$	3,837,141	$	3,715,235	$	3,167,821	$	3,837,141	$	3,167,821
Allowance for Credit Losses	$	46,732	$	46,169	$	39,767	$	46,732	$	39,767
Total Equity	$	549,041	$	565,951	$	527,976	$	549,041	$	527,976
Tangible Common Equity ^(a)	$	427,470	$	446,786	$	435,405	$	427,470	$	435,405

AVERAGE BALANCES
Total Assets	$	5,516,036	$	5,483,572	$	4,725,297	$	5,154,320	$	4,802,448
Earning Assets	$	5,196,352	$	5,165,520	$	4,485,766	$	4,871,293	$	4,564,135
Investments	$	1,311,415	$	1,342,037	$	1,279,821	$	1,310,263	$	1,358,661
Loans	$	3,790,515	$	3,705,779	$	3,133,267	$	3,468,534	$	3,111,784
Total Deposits	$	4,757,438	$	4,705,614	$	4,050,968	$	4,405,679	$	4,106,132
Interest-Bearing Deposits	$	3,925,740	$	4,403,454	$	3,291,931	$	3,767,259	$	3,304,816
Interest-Bearing Liabilities	$	134,553	$	157,227	$	206,778	$	166,377	$	199,551
Total Equity	$	556,330	$	546,912	$	463,004	$	535,963	$	486,572

INCOME STATEMENT DATA
Net Interest Income	$	49,602	$	47,170	$	39,590	$	174,986	$	167,262
Net Interest Income Fully Tax Equivalent ^(b)	$	50,985	$	48,630	$	40,942	$	180,586	$	172,716
Provision for Credit Losses	$	2,000	$	9,400	$	2,495	$	16,166	$	7,295
Non-interest Income	$	12,213	$	11,223	$	11,247	$	42,772	$	42,702
Non-interest Expense	$	39,801	$	38,564	$	34,244	$	144,438	$	130,176
Net Income	$	16,241	$	8,741	$	12,420	$	47,275	$	60,672

PER SHARE DATA
Basic and Diluted Net Income Per Common Share	$	1.37	$	0.74	$	1.06	$	4.00	$	5.08
Cash Dividends Declared Per Common Share	$	0.51	$	0.45	$	0.45	$	1.86	$	0.99
Book Value Per Common Share	$	46.36	$	47.93	$	44.76	$	46.36	$	44.76
Tangible Book Value Per Common Share ^(c)	$	36.77	$	36.22	$	31.47	$	36.10	$	36.91
Basic Weighted Average Common Shares Outstanding		11,824		11,808		11,772		11,812		11,937

______________________________
(a)   Tangible common equity is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible common equity by excluding goodwill and other intangible assets from shareholder’s equity.
(b)   Net interest income fully tax equivalent is a non-GAAP financial measure derived from GAAP-based amounts. We calculate net interest income fully tax equivalent by adding back the tax equivalent factor of tax exempt income to net interest income. We calculate the tax equivalent factor of tax exempt income by dividing tax exempt income by the net of tax rate of 75%.
(c)   Tangible book value per common share is a non-GAAP financial measure derived from GAAP-based amounts. We calculate the factor by dividing average tangible common equity by average shares outstanding. We calculate average tangible common equity by excluding average intangible assets from average shareholder’s equity.


Key Ratios	Three Months Ended						Year Ended
	December 31,		September 30,		December 31,		December 31,		December 31,
	2024		2024		2023		2024		2023
Return on average assets	1.18	%	0.64	%	1.05	%	0.92	%	1.26	%
Return on average common shareholder’s equity	11.68	%	6.39	%	10.73	%	8.82	%	12.47	%
Efficiency ratio	62.98	%	64.43	%	65.62	%	64.67	%	60.43	%
Average equity to average assets	10.09	%	9.97	%	9.80	%	10.40	%	10.13	%
Net interest margin ^(a)	3.94	%	3.78	%	3.63	%	3.71	%	3.78	%
Net charge-offs to average loans and leases	0.15	%	0.49	%	0.22	%	0.35	%	0.23	%
Credit loss reserve to loans and leases	1.22	%	1.24	%	1.26	%	1.22	%	1.26	%
Credit loss reserve to nonperforming loans	351.37	%	326.65	%	161.94	%	351.37	%	161.94	%
Nonperforming loans to loans and leases	0.35	%	0.38	%	0.78	%	0.35	%	0.78	%
Tier 1 leverage	10.38	%	10.25	%	12.14	%	10.38	%	12.14	%
Risk-based capital – Tier 1	12.43	%	13.63	%	14.76	%	12.43	%	14.76	%

______________________________
(a) Net interest margin is calculated on a tax equivalent basis.


Asset Quality	Three Months Ended						Year Ended
	December 31,		September 30,		December 31,		December 31,		December 31,
	2024		2024		2023		2024		2023
Accruing loans and leases past due 30-89 days	$	22,486	$	16,391	$	20,168	$	22,486	$	20,168
Accruing loans and leases past due 90 days or more	$	1,821	$	1,517	$	960	$	1,821	$	960
Nonaccrual loans and leases	$	11,479	$	12,617	$	23,596	$	11,479	$	23,596
Other real estate owned	$	523	$	169	$	107	$	523	$	107
Nonperforming loans and other real estate owned	$	13,823	$	14,303	$	24,663	$	13,823	$	24,663
Total nonperforming assets	$	16,719	$	17,179	$	27,665	$	16,719	$	27,665
Gross charge-offs	$	3,070	$	6,936	$	3,976	$	19,289	$	15,496
Recoveries	$	1,633	$	2,365	$	2,213	$	7,082	$	8,188
Net charge-offs/(recoveries)	$	1,437	$	4,571	$	1,763	$	12,207	$	7,308


Non-GAAP Reconciliations	Three Months Ended December 31,
	2024		2023
($in thousands, except EPS)
Income before Income Taxes	$	20,014	$	14,098
Provision for credit losses		2,000		2,495
Provision for unfunded commitments		300		—
Pre-tax, Pre-provision Income	$	22,314	$	16,593


Non-GAAP Reconciliations	Year Ended December 31,
	2024		2023
($ in thousands, except EPS)
Income before Income Taxes	$	57,154	$	72,493
Provision for credit losses		16,166		7,295
Provision for unfunded commitments		100		(100	)
Pre-tax, Pre-provision Income	$	73,420	$	79,688


CONSOLIDATED BALANCE SHEETS (Dollar amounts in thousands, except per share data)

	December 31,			December 31,
	2024			2023
	(unaudited)
ASSETS
Cash and due from banks	$	93,526		$	76,759
Federal funds sold		820			282
Securities available-for-sale		1,195,990			1,259,137
Loans:
Commercial		2,196,351			1,817,526
Residential		967,386			695,788
Consumer		668,058			646,758
		3,831,795			3,160,072
(Less) plus:
Net deferred loan costs		5,346			7,749
Allowance for credit losses		(46,732	)		(39,767	)
		3,790,409			3,128,054
Restricted stock		17,555			15,364
Accrued interest receivable		26,934			24,877
Premises and equipment, net		81,508			67,286
Bank-owned life insurance		128,766			114,122
Goodwill		100,026			86,985
Other intangible assets		21,545			5,586
Other real estate owned		523			107
Other assets		102,746			72,587
TOTAL ASSETS	$	5,560,348		$	4,851,146

LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits:
Non-interest-bearing	$	859,014		$	750,335
Interest-bearing:
Certificates of deposit exceeding the FDIC insurance limits		144,982			92,921
Other interest-bearing deposits		3,714,918			3,246,812
		4,718,914			4,090,068
Short-term borrowings		187,057			67,221
FHLB advances		28,120			108,577
Other liabilities		77,216			57,304
TOTAL LIABILITIES		5,011,307			4,323,170

Shareholders’ equity
Common stock, $.125 stated value per share;
Authorized shares-40,000,000
Issued shares-16,165,023 in 2024 and 16,137,220 in 2023
Outstanding shares-11,842,539 in 2024 and 11,795,024 in 2023		2,018			2,014
Additional paid-in capital		145,927			144,152
Retained earnings		687,366			663,726
Accumulated other comprehensive income/(loss)		(132,285	)		(127,087	)
Less: Treasury shares at cost-4,322,484 in 2024 and 4,342,196 in 2023		(153,985	)		(154,829	)
TOTAL SHAREHOLDERS’ EQUITY		549,041			527,976
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	5,560,348		$	4,851,146


CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Dollar amounts in thousands, except per share data)

	Year Ended
	December 31,
	2024			2023			2022
	(unaudited)
INTEREST INCOME:
Loans, including related fees	$	226,262		$	189,641		$	146,295
Securities:
Taxable		24,237			24,643			21,014
Tax-exempt		10,533			10,573			9,974
Other		3,710			3,540			6,018
TOTAL INTEREST INCOME		264,742			228,397			183,301
INTEREST EXPENSE:
Deposits		81,071			51,694			16,743
Short-term borrowings		4,284			5,370			1,243
Other borrowings		4,401			4,071			273
TOTAL INTEREST EXPENSE		89,756			61,135			18,259
NET INTEREST INCOME		174,986			167,262			165,042
Provision for credit losses		16,166			7,295			(2,025	)
NET INTEREST INCOME AFTER PROVISION
FOR LOAN LOSSES		158,820			159,967			167,067
NON-INTEREST INCOME:
Trust and financial services		5,468			5,155			5,155
Service charges and fees on deposit accounts		29,653			28,079			27,540
Other service charges and fees		999			801			665
Securities gains (losses), net		103			(1	)		3
Interchange income		655			676			559
Loan servicing fees		1,259			1,176			1,554
Gain on sales of mortgage loans		1,153			966			1,994
Other		3,482			5,850			9,246
TOTAL NON-INTEREST INCOME		42,772			42,702			46,716
NON-INTEREST EXPENSE:
Salaries and employee benefits		74,555			68,525			65,555
Occupancy expense		9,616			9,351			9,764
Equipment expense		17,612			14,020			12,391
FDIC Expense		2,788			2,907			2,327
Other		39,867			35,373			35,986
TOTAL NON-INTEREST EXPENSE		144,438			130,176			126,023
INCOME BEFORE INCOME TAXES		57,154			72,493			87,760
Provision for income taxes		9,879			11,821			16,651
NET INCOME		47,275			60,672			71,109
OTHER COMPREHENSIVE INCOME (LOSS)
Change in unrealized gains/(losses) on securities, net of reclassifications and taxes		(9,807	)		10,896			(144,570	)
Change in funded status of post retirement benefits, net of taxes		4,609			1,991			7,022
COMPREHENSIVE INCOME (LOSS)	$	42,077		$	73,559		$	(66,439	)
PER SHARE DATA
Basic and Diluted Earnings per Share	$	4.00		$	5.08		$	5.82
Weighted average number of shares outstanding (in thousands)		11,812			11,937			12,211

The MIL Network –

February 5, 2025

MIL-OSI: Mark Cuban Foundation and the Cosmosphere Bring AI Education to Hutchinson Teens

Source: GlobeNewswire (MIL-OSI)

HUTCHINSON, Kan., Feb. 04, 2025 (GLOBE NEWSWIRE) — The Mark Cuban Foundation is proud to announce a pioneering museum pilot program in partnership with the Cosmosphere International Science Education Center and Space Museum in Hutchinson, Kansas. The program will bring the highly acclaimed Artificial Intelligence (AI) Bootcamp to Hutchinson area high school students. This collaboration emphasizes the Foundation’s mission to reach students in underserved and previously unconnected regions, providing them with opportunities to engage with innovative technology.

The program aims to provide students with a foundational understanding of artificial intelligence and its applications to future careers. Students can select from six tracks: healthcare, arts and entertainment, business and entrepreneurship, computer science, sports science, or education and career readiness. Driven by the belief that fostering interest in AI at a young age is crucial for preparing the next generation for their future, the AI Bootcamps are introductory and accessible to students in 9-12 grade with an interest in technology. Students do not need any familiarity with computer science or programming to attend.

This free AI Bootcamp is hosted for underserved high school students with a transparent focus on recruiting girls, students of color, first generation college students, and those from low to moderate income households. The AI Bootcamp Program provides students with lunch and a snack, transportation assistance, and technology equipment during bootcamp.

“As AI continues to become an undeniable force in all of our lives, it’s crucial that we open the door to this knowledge, especially to young people who want to explore it,” said Mark Cuban, founder. “While technology expands and becomes more advanced, it becomes more critical that we ensure our students are prepared when they apply for schools or jobs in the future. Thanks to our work with the Cosmosphere, the bootcamp will offer an avenue to explore this fascinating field of technology to any student, no matter their means.”

This year’s bootcamp, taking place in Hutchinson on March 17- 19, is hosted and staffed by the Cosmosphere, a space museum with one of the largest collections of U.S. and Soviet space artifacts. It features the Apollo 13 command module, an SR-71 Blackbird, a planetarium, and hands-on exhibits for all ages.

Cosmosphere is one of more than 25 host companies selected to host camps across the U.S.

“At the Cosmosphere, we’re passionate about igniting curiosity in young minds and empowering the next generation of innovators. This AI bootcamp, in partnership with the Mark Cuban Foundation, represents a tremendous opportunity to do just that,” said JoAnna Strecker, Cosmosphere Vice President of Education. “We’re grateful to the Mark Cuban Foundation for their support in making this dream a reality, and we can’t wait to see the incredible things these students will achieve.”

Apply for the bootcamp at: markcubanai.org.

Watch Mark Cuban’s message about Mark Cuban Foundation’s AI bootcamps and access the full media kit here.

To learn more, visit markcubanai.org.

This bootcamp is facilitated with support from Mark Cuban Foundation AI Bootcamp Program’s media partner, Notified, a globally trusted technology partner for investor relations, public relations and marketing professionals.

About Mark Cuban Foundation’s AI Bootcamp Initiative
The Mark Cuban Foundation is a 501(c)(3) private non-profit led by entrepreneur and investor Mark Cuban. The AI Bootcamps Program at MCF seeks to inspire young people with emerging technology so that they can create more equitable futures for themselves and their communities. Over 3 consecutive Saturdays underserved 9^th – 12^th grade students learn what AI is and isn’t, where they already interact with AI in their own lives, the ethical implications of AI systems, and much more. Learn more about the no-cost AI Bootcamp program at markcubanai.org.

About Cosmosphere

The Cosmosphere International Science Education Center and Space Museum is a Smithsonian Affiliate. Located at 1100 North Plum in Hutchinson, KS, its collection includes U.S. space artifacts second only to the Smithsonian’s National Air and Space Museum and the largest collection of Russian space artifacts outside of Moscow. This unique collection allows the Cosmosphere to tell the story of the Space Race better than any museum in the world while offering fully immersive education experiences that meet Next Generation Science Standards. The Cosmosphere also features the Carey Digital Dome Theater, offering daily documentary showings, a digital Planetarium, Dr. Goddard’s Rocket Lab Experience, where visitors experience live science demonstrations, and CosmoKids, an interactive STEAM area for children accompanied by an adult.

The MIL Network –

February 5, 2025
MIL-OSI United Kingdom: Britain’s leading the way protecting children from online predators
Source: United Kingdom – Government Statements

UK becomes the first country in the world to create new AI sexual abuse offences to protect children from predators generating AI images.
Children will be protected from the growing threat of predators generating AI images and from online sexual abuse as the UK becomes the first country in the world to create new AI sexual abuse offences.

AI tools are being used to generate child sexual abuse images in a number of sickening ways including by “nudeifying” real life images of children or by stitching the faces of other children onto existing child sexual abuse images. The real-life voices of children are also often used in this sickening material, meaning innocent survivors of traumatic abuse are being re-victimised.

Perpetrators are also using those fake images to blackmail children and force victims into further horrific abuse including streaming live images. AI tools are being used to help perpetrators disguise their initial identity and more effectively groom and abuse children online.

To better protect children against this sickening abuse the Home Secretary Yvette Cooper has today (2 February) revealed the UK will be the first country in the world to:

make it illegal to possess, create or distribute AI tools designed to generate CSAM, punishable by up to 5 years in prison

make it illegal for anyone to possess AI “paedophile manuals” which teach people how to use AI to sexually abuse children, punishable by up to 3 years in prison

At the same time, the Home Office will:

introduce a specific offence for predators who run websites designed for other paedophiles to share vile child sexual abuse content or advice on how to groom children, punishable by up to 10 years in prison

give Border Force the necessary powers to keep the UK safe and prevent the distribution of CSAM which is often filmed abroad by allowing officers to compel an individual who they reasonably suspect poses a sexual risk to children to unlock their digital devices for inspection. Punishable by up to 3 years in prison, depending on the severity

All 4 measures will be introduced as part of the Crime and Policing Bill when it comes to Parliament. The bill will support the delivery of the government’s safer streets mission to halve knife crime and violence against women and girls in a decade and increase confidence in policing and the wider criminal justice system to its highest levels.

The increased availability of AI CSEA imagery not only poses a real risk to the public by normalising sexual violence against children, but it can lead those who view and create it to go on to offend in real life.

Home Secretary, Yvette Cooper, said:

We know that sick predators’ activities online often lead to them carrying out the most horrific abuse in person. This government will not hesitate to act to ensure the safety of children online by ensuring our laws keep pace with the latest threats.

These 4 new laws are bold measures designed to keep our children safe online as technologies evolve. It is vital that we tackle child sexual abuse online as well as offline so we can better protect the public from new and emerging crimes as part of our plan for change.

The Internet Watch Foundation (IWF) has warned that more and more sexual abuse AI images of children are being produced.

Over a 30 day period in 2024, IWF analysts identified 3,512 AI CSAM images on a single dark web site. Compared with their 2023 analysis, the prevalence of Category A images (the most severe category) had risen by 10%.

New data from the charity shows that reports showing AI generated CSAM have risen 380%, with 245 confirmed reports in 2024 compared with 51 in 2023. Each report can contain thousands of images.

The charity also warns that some of this AI generated content is so realistic that sometimes they are unable to tell the difference between AI generated content and abuse that is filmed in real life. Of the 245 reports the IWF took action against, 193 included AI generated images which were so sophisticated and life-like, they were actioned under UK law as though they were actual, photographic images of child sexual abuse.

The predators who run or moderate websites designed for other paedophiles to share vile child sexual abuse content or advice on how to groom children are often the most dangerous to society by encouraging others to view even more extreme content.

Covert law enforcement officials warn that these individuals often acting as ‘mentors’ for others with an interest in harming in children by offering advice on how to avoid detection and how to manipulate AI tools to generate CSAM.

Technology Secretary, Peter Kyle said:

For too long abusers have hidden behind their screens, manipulating technology to commit vile crimes and the law has failed to keep up. It’s meant too many children, young people, and their families have been suffering the dire and lasting impacts of this abuse.

That is why we are cracking down with some of the most far-reaching laws anywhere in the world. These laws will close loopholes, imprison more abusers, and put a stop to the trafficking of this abhorrent material from abroad. Our message is clear – nothing will get in the way from keeping children safe, and to abusers, the time for cowering behind a keyboard is over.

Through the new laws, The Home Office is leading on the international stage by continuing to invest in law enforcement capabilities to target online child sexual abuse offenders to disrupt the highest harm and most technically sophisticated offenders.

Which is why we are giving Border Force the necessary powers to keep the UK safe and prevent the distribution of CSAM which is often filmed abroad. Border Force officers will have the power to compel an individual, where they reasonably suspect that the individual poses a sexual risk to children, to unlock their digital devices for inspection.

Once the device is accessed, specialist technology will be used to compare the contents of the device against the Child Abuse Image Database (CAID), to identify the presence of known child sexual abuse material.

Interim Chief Executive of the IWF, Derek Ray-Hill, said:

We have long been calling for the law to be tightened up, and are pleased the government has adopted our recommendations. These steps will have a concrete impact on online safety.

The frightening speed with which AI imagery has become indistinguishable from photographic abuse has shown the need for legislation to keep pace with new technologies.

Children who have suffered sexual abuse in the past are now being made victims all over again, with images of their abuse being commodified to train AI models. It is a nightmare scenario, and any child can now be made a victim, with life-like images of them being sexually abused obtainable with only a few prompts, and a few clicks.

The availability of this AI content further fuels sexual violence against children. It emboldens and encourages abusers, and it makes real children less safe. There is certainly more to be done to prevent AI technology from being exploited, but we welcome today’s announcement, and believe these measures are a vital starting point.

While AI can be used as a force for good to transform people’s lives, make public services more efficient and help bolster creative industries, the risk of its use to children continues to grow.

The crime risks normalising sexual violence against children and re-victimising survivors of traumatic abuse. Which is why this government is prepared to build upon the Online Safety Act and will not hesitate to go further if necessary.

Minister for Safeguarding and Violence Against Women and Girls, Jess Phillips, said:

As technology evolves so does the risk to the most vulnerable in society, especially children. It is vital that our laws are robust enough to protect children from these changes online. We will not allow gaps and loopholes in legislation to facilitate this abhorrent abuse.

However, everyone has a role to play, and I would implore Big Tech to take seriously its responsibility to protect children and not provide safe spaces for this offending.

Crossbench Peer and Chair of 5Rights Foundation, Baroness Kidron said:

It has been a long fight to get the AI Child Sexual Abuse Offences into law, and the Home Secretary’s announcement today that they will be included in the Crime Bill, is a milestone. AI-enabled crime normalises the abuse of children and amplifies its spread. Our laws must reflect the reality of children’s experience, and ensure that technology is safe by design and default.

I pay tribute to my friends and colleagues in the specialist police unit that brought this to my attention, and commend them for their extraordinary efforts to keep children safe. All children whose identity has been stolen or who have suffered abuse deserve our relentless attention and unwavering support. It is they – and not politicians – who are the focus of our efforts

In January, the Home Secretary announced a raft of new measures and an investment of £10 million that will allow us to do more to protect vulnerable children, find more criminals, and get justice for more victims and survivors of child sexual abuse.

More victims of child sexual abuse and exploitation will be given power to seek an independent review of their cases following the widening of the Child Sexual Abuse Review Panel. Chief constables of all police forces in England and Wales have been urged to re-examine non-recent and live cases of gang exploitation to increase prosecutions.

At the same time, Baroness Louise Casey has been appointed to lead a rapid audit of existing evidence on grooming gangs to help deliver quicker action to tackle the crime and help victims. By Easter, the government will lay out a clear timetable for taking forward the recommendations from the final IICSA report.

Policy Manager for Child Safety Online at the NSPCC, Rani Govender said:

It is encouraging to see the government take action aimed at tackling criminals who create AI generated child sexual abuse images.

Our Childline service is hearing from children and young people about the devastating impact it can have when AI generated images are created of them and shared. And, concerningly, often victims won’t even know these images have been created in the first place.

It is vital the development of AI does not race ahead of child safety online. Wherever possible, these abhorrent harms must be prevented from happening in the first place. To achieve this, we must see robust regulation of this technology to ensure children are protected and tech companies undertake thorough risk assessments before new AI products are rolled out.

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Published 4 February 2025
MIL OSI United Kingdom –
February 5, 2025
MIL-OSI United Nations: UNRWA delivers bulk of aid in Gaza, as destruction mounts in West Bank

Source: United Nations 4

4 February 2025 Peace and Security

Some 30,000 residents from Jenin refugee camp in the occupied West Bank have fled their homes after large swathes of it were destroyed in a series of controlled detonations by the Israeli security forces (ISF), the UN agency for Palestine refugees (UNRWA) said on Tuesday.

UNRWA’s communications director Juliette Touma described catastrophic scenes at the camp, where some 100 buildings had been “destroyed or heavily damaged” by the detonations at the weekend.

The camp’s residents had “endured the impossible”, she said, after nearly two months of “unceasing and escalating violence” linked to the Israeli military operation.

“The detonation on Sunday was when children were supposed to go back to school,” Ms. Touma explained, adding that the 13 UNRWA schools in the camp and its surrounding areas remain closed, depriving 5,000 children of education.

Israeli ban

UNRWA faces unprecedented challenges to continue carrying out its work following the Israeli parliament’s adoption in October last year of two laws banning its operations in Israeli territory and prohibiting Israeli authorities from having any contact with the agency. The Knesset laws entered into force last Thursday.

Still, Ms. Touma said that to this day, the Government of Israel has “not communicated to UNRWA how they intend to implement” the laws.

The agency’s teams are “staying and delivering” in the remaining parts of the West Bank, Ms. Touma said, with basic services, including primary healthcare and education ongoing.

“Schools and clinics remain open, including in occupied East Jerusalem, providing services to refugees,” the UNRWA spokesperson said. “We are seeing attendance at UNRWA schools at over 80 to 85 per cent.”

Ms. Touma also reported a “steady increase” in the number of patients visiting the UNRWA health centres in the West Bank, with one clinic in East Jerusalem recording more than 400 patients a day.

Turning to the Gaza Strip, where humanitarian needs are sky-high, Ms. Touma said that the “biggest priority” for UNRWA teams there is distributing supplies from 4,200 aid trucks that have entered the enclave since the start of the ceasefire on 19 January.

This is the target number that was set as part of the initial phase of the ceasefire and represents a welcome boost for the people of Gaza whose needs remain enormous – particularly among the hundreds of thousands of people who have returned to the shattered north.

More trucks are expected to arrive later this week, Ms. Touma said, adding that “hundreds of trucks” are waiting to enter Gaza from Egypt and Jordan.

Truce opportunity

The first phase of the temporary truce between Israel and Hamas followed more than 15 months of war which in which some 46,000 Palestinians were killed, according to the Gaza health authorities. The conflict was sparked by the 7 October 2023 Hamas-led attacks on Israel, in which some 1,200 people were killed and 250 were taken hostage.

Ms. Touma stressed that UNRWA has brought in 60 per cent of all supplies that came into Gaza since the ceasefire began and that the “vast majority” of the aid is distributed by the agency which has more than 5,000 staff there. A fifth of them are health workers, Ms. Touma added, underscoring UNRWA’s major role as a primary healthcare provider in the enclave, offering an average of 17,000 daily consultations.

Following the Knesset ban, UN chief António Guterres and the heads of many UN agencies insisted that UNRWA is irreplaceable in the Occupied Palestinian Territory.

Besides obstacles stemming from the new Israeli legislation, the agency’s operations are also constantly in jeopardy because of its “very bad” financial health, Ms. Touma said. The United States, notably, had stopped funding UNRWA as of January 2024.

The UNRWA spokesperson said that the agency was able to pay salaries to its workers last month but had limited visibility over its financial situation, calling the funding crisis “endemic”.

MIL OSI United Nations News –

February 5, 2025
MIL-OSI USA: IAM Local 778 Ratifies Strong New Contract with Kansas City Auto Dealers

Source: US GOIAM Union

IAM Local 778 and Teamsters Local 41 members working at Ford, Dodge, and Chevrolet dealerships ratified a strong new three-year agreement with the Kansas City Dealers Association on Jan. 6.

The new contract covers IAM and Teamsters members at various dealerships throughout Kansas City and the surrounding area. After narrowly avoiding a strike while bargaining their last two agreements, members overwhelmingly passed this contract, which contains many enhancements.

“The Midwest Territory is proud of our strong presence in the automotive industry,” said IAM Midwest Territory General Vice President Sam Cicinelli. “This bargaining committee worked hard to bring the membership an outstanding new contract that they deserve.”

IAM Union Bargaining Committee member Jeff Jaenson, who has been on the negotiating committee four times, said this is the healthiest contract he has ever seen.

“Our members deserve a contract they can be proud of, and the vote confirmed that they are,” said IAM Local 778 Directing Business Representative Scott Brown. “IAM Business Representative Kevin Watkinson led the committee through some tough bargaining topics and ultimately made sure every need of the membership was addressed.”

The bargaining committee negotiated to improve crucial elements of the agreement, including better wages, overtime pay, accrual language, sick time, tool insurance, 401(k) retirement contribution, and health insurance.

“We thank everyone involved in helping to make this ratification meeting run smoothly,” said IAM Union Local 778 Business Representative and lead negotiator Kevin Watkinson. “Thank you to all of the members who came out to cast their vote and to the dedicated IAM members who volunteered their time to help with the ratification process: April Major, Joe Ester, Brad Kreisel, and Tyler Gibson.”

April Major- Secretary-Treasurer for IAM Local 778
Joe Ester- Plant Engineer (BASE) and Steward at UPS
Brad Kreisel- Full time Committee person at Honeywell (FMT)
Tyler Gibson- Mechanic and Steward at UPS

Jeff Jaenson- IAM Bargaining Committee
Mike Kampman- IAM Bargaining Committee
Kevin Watkinson- IAM Business Representative
Erik Holtzclaw- IBT Bargaining Committee
Brad Neighbors- IBT Business Agent
Jim Eaton- IBT Bargaining Committee
Zach Alden- IBT Business Agent

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MIL OSI USA News –

February 5, 2025
MIL-OSI: Seafarer Capital Partners Reveals Key Drivers of Performance in Emerging Markets Value Investing
Source: GlobeNewswire (MIL-OSI)

LARKSPUR, Calif., Feb. 04, 2025 (GLOBE NEWSWIRE) — Drawing on fourteen years of fundamental research and investing in global emerging markets, and over eight years of hands-on experience in managing the Seafarer Overseas Value Fund (SIVLX, SFVLX, SFVRX), Seafarer Capital Partners (Seafarer) recently published a white paper providing empirical data and evaluating key opportunity sets found in emerging markets value investing.

The new white paper, titled “Revisiting the Seven Sources of Value in Emerging Markets,” examines practical lessons the Seafarer Value team has learned in its pursuit of investing in seven distinct sources of value in the emerging markets, which were first identified by Seafarer in 2016. The full paper is available on Seafarer’s website here.

“Rather than taking a traditional approach focused solely on simplistic valuation multiples, Seafarer’s approach to value investing in emerging markets started with the idea that these markets present a number of distinct underlying sources of value that may give rise to viable investment opportunities,” said Brent Clayton, author of the white paper and co-portfolio manager of the Seafarer Overseas Value Fund. “This paper looks back on our team’s practical experience pursuing these sources of value in emerging markets, including opportunities and risks we have become more attuned to.”

The white paper reviews all seven sources of value identified at the launch of the Value Fund (read the original 2016 white paper here) and breaks out the impact of each source on the Fund’s performance since inception (see included chart). The commentary also includes a nuanced analysis of these sources of value and provides “emblematic stock” examples to help practically illustrate the sources of value in action.

The key lessons shared in the white paper, by source of value, include the following:
- Asset Productivity: Companies that are among the lowest-cost, highest-margin operators within their industries have been able to survive prolonged cyclical downturns. Such business resiliency can render the exact timing of the cycle less important.
- Structural Shift: Highly-cash generative companies structurally shifting to a lower growth rate provided fruitful opportunities for the strategy, particularly in China in 2016 and Brazil in 2020.
- Balance Sheet Liquidity: Companies with high levels of cash on their balance sheets have been more prone to be “value traps” than anticipated. While a potential source of latent value, it can also be a sign of poor capital allocation or weak corporate governance.
The paper provides detailed discussion of lessons learned while pursuing investing in each of the seven sources of value and includes one portfolio holding for each of the sources as an illustration.

“Finding low-priced stocks in the emerging markets is not difficult. The challenge is finding low-priced businesses with both sustainable competitive advantages and management teams that think carefully about how they steward corporate capital,” said Clayton. “A focused and long-term approach has been critical to realizing value across the seven opportunity sets that this strategy pursues.”

About the Seafarer Overseas Value Fund
The Seafarer Overseas Value Fund (tickers: SIVLX, SFVLX, SFVRX) seeks to provide long-term capital appreciation. The Fund invests primarily in the securities of companies located in developing countries. The Fund invests primarily in common and preferred stocks. The Fund’s portfolio is comprised of securities identified through a bottom-up security selection process based on fundamental research. The Fund seeks to produce a minimum long-term rate of return by investing in securities priced at a discount to their intrinsic value.

About Seafarer Capital Partners
Seafarer Capital Partners is an investment adviser focused on emerging markets. Seafarer offers investment portfolios that seek to participate in the opportunities afforded by the growth and progress in the developing world. The firm employs a bottom-up, fundamental investment approach. Seafarer’s objective is to provide long-term investment portfolios that offer sustainable growth, reasonable income, suitable diversification and which mitigate volatility. The firm serves as the investment adviser to the Seafarer Overseas Growth and Income Fund and the Seafarer Overseas Value Fund. Founded in 2011, Seafarer is a wholly employee-owned firm located in the San Francisco Bay Area. For more information, please visit www.seafarerfunds.com.

¹ Percentages in the chart are based on the aggregate contribution to total return for portfolio holdings in each primary source of value divided by the aggregate contribution to total return of all portfolio holdings from the inception of the Seafarer Overseas Value Fund on May 31, 2016 through September 30, 2024. They exclude cash and other assets and liabilities held by the Fund. A portfolio holding’s primary source of value is defined as the intended driver of value Seafarer was targeting over the majority of a position’s holding period. Sources: Bloomberg, Seafarer.

ALPS Distributors, Inc. is the distributor for the Seafarer Funds.

Investors should consider the investment objectives, risks, charges, and expenses carefully before making an investment decision. This and other information about the Funds are contained in the Prospectus, which may be obtained by calling (855) 732-9220. Please read the Prospectus carefully before you invest or send money.

Important Risks: An investment in the Funds involves risk, including possible loss of principal. International investing involves additional risks, including social and political instability, market and currency volatility, market illiquidity, and reduced regulation. Emerging markets are often more volatile than developed markets, and investing in emerging markets involves greater risks. Fixed income investments are subject to additional risks, including but not limited to interest rate, credit, and inflation risks. Value investments are subject to the risk that their intrinsic value may not be recognized by the broad market. An investment in the Funds should be considered a long-term investment.

The views and information discussed herein are as of the date of publication, are subject to change, and may not reflect Seafarer’s current views. The views expressed represent an assessment of market conditions at a specific point in time, are opinions only and should not be relied upon as investment advice regarding a particular investment or markets in general. Such information does not constitute a recommendation to buy or sell specific securities or investment vehicles. It should not be assumed that any investment will be profitable or will equal the performance of the portfolios or any securities or any sectors mentioned herein. The subject matter contained herein has been derived from several sources believed to be reliable and accurate at the time of compilation. Seafarer does not accept any liability for losses either direct or consequential caused by the use of this information.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3388df52-1d76-4853-aa15-51bbf250f6dd

The MIL Network –
February 5, 2025

Contact:		Kevin Hayes SVP/ General Counsel, Secretary, and Chief Governance Officer 717.339.5161 khayes@acnb.com

Category: Business

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Israeli ban

Truce opportunity