Category: Business

MIL-OSI Asia-Pac: Terms set for exhibition incentives

Source: Hong Kong Information Services

The Commerce & Economic Development Bureau today announced arrangements for the Incentive Scheme for Recurrent Exhibitions (ISRE) 2.0.

As stated in the 2024 Policy Address, the Government will allocate an additional provision of $500 million to implement the ISRE 2.0, in light of the convention and exhibition (C&E) industry’s strong support for the existing scheme.

The 2.0 edition will aim to attract more new and recurrent international exhibitions of large scale, with a view to boosting the vibrancy of the C&E industry in Hong Kong.

As with the existing scheme, the ISRE 2.0 will only subsidise venue rentals for eligible exhibitions organised by private organisers at specified venues.

Under the new arrangements, only international exhibitions attracting at least 1,500 non-local exhibitor and buyer participants will be covered. The maximum incentive for each eligible exhibition will be capped at $10 million.

Thirdly, the Central Harbourfront Event Space and relevant parts of the West Kowloon Cultural District will be designated as specified venues, alongside the Convention & Exhibition Centre and AsiaWorld-Expo, thereby offering organisers more venue options.

The ISRE 2.0 will be launched on July 1 this year subject to funding approval by the Legislative Council’s, while the existing edition will terminate on the same day.

Application guidelines for the ISRE 2.0 will be announced in due course.

Eligible exhibitions which will begin on or before June 30 this year should apply for incentives under the existing ISRE.

MIL OSI Asia Pacific News –

January 25, 2025
MIL-OSI: American National Announces Full Redemption of Outstanding Depositary Shares Representing Interests in its 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A and Intent to Voluntarily Delist and Deregister

Source: GlobeNewswire (MIL-OSI)

HOUSTON, Jan. 24, 2025 (GLOBE NEWSWIRE) — American National Group Inc. (the “Company”) (NYSE: ANG PRA) today announced that the Company will redeem (the “Redemption”) all the 16,000 outstanding shares of its 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A (the “Series A Preferred Stock”) and the corresponding 16,000,000 depositary shares, each representing a 1/1,000th interest in one share of Series A Preferred Stock (the “Depositary Shares”), on February 24, 2025 (the “Redemption Date”).

The Depositary Shares will be redeemed for a redemption price equal to $25.00 per Depositary Share (equivalent to $25,000 per share of Series A Preferred Stock) plus an amount equal to any declared but unpaid dividends and the portion of the quarterly dividend attributable to 1/1,000th of a share of Series A Preferred Stock to the then-current dividend period that has not been declared and paid to, but excluding, the Redemption Date (the “Redemption Price”).

The Depositary Shares are held through The Depository Trust Company (“DTC”) and will be redeemed in accordance with the applicable procedures of DTC. Payment to DTC for the Depositary Shares will be made by Computershare Inc., the Company’s redemption agent (the “Redemption Agent”), in accordance with the terms set forth in the Redemption Agent Agreement that governs the redemption of the Depositary Shares. All questions about the notice of redemption and related materials should be directed to the Redemption Agent at the following address and phone number:

Computershare Inc.
Attention: Corporate Actions Department
150 Royall Street
Canton, MA 02021
Tel: 1-800-546-5141

Upon the Redemption, no Series A Preferred Stock or Depositary Shares will remain outstanding, and all rights with respect to such stock or depositary shares will cease and terminate except only the right of the holders of the Depositary Shares to receive the Redemption Price, without interest. The information contained in this press release does not constitute a notice of redemption with respect to the Series A Preferred Stock or Depositary Shares. Investors in the Depositary Shares should contact the bank or broker through which they hold a beneficial interest in the Depositary Shares for information about obtaining the Redemption Price for the Depositary Shares in which they have a beneficial interest.

In connection with the Redemption, the Company intends to delist the Depositary Shares from the New York Stock Exchange (“NYSE”) and to deregister the Depositary Shares from registration with the Securities and Exchange Commission (the “SEC”). The Company intends to request that NYSE file with the SEC a notification of removal from listing and registration on Form 25 to effect the delisting of all of the Depositary Shares from NYSE. In addition, after the Redemption Date, the Company intends to file a certification on Form 15 with the SEC requesting the termination of registration of all of the Depositary Shares. Deregistration of the Depositary Shares is expected to become effective 90 days after the Form 15 is filed.

ABOUT AMERICAN NATIONAL GROUP INC.

American National Group Inc. offers a broad array of insurance products and services through its operating subsidiaries, American National and American Equity Life. Operating across 50 U.S. states, the group’s customer offering includes annuities, personal and commercial property and casualty insurance and life insurance. For more information, please visit AmericanNational.com/home/about-us/investor-relations.

Forward-Looking Statements

All statements contained in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. Forward-looking statements give expectations or forecasts of future events and do not relate strictly to historical or current facts. They may relate to markets for our products, trends in our operations or financial results, strategic alternatives, future operations, strategies, plans, partnerships, investments, share buybacks and other financial developments. They use words and terms such as “anticipate,” “assume,” “believe,” “can,” “continue,” “could,” “enable,” “estimate,” “expect,” “foreseeable,” “goal,” “improve,” “intend,” “likely,” “may,” “model,” “objective,” “opportunity,” “outlook,” “plan,” “potential,” “project,” “remain,” “risk,” “seek,” “should,” “strategy,” “target,” “will,” “would,” and other words and terms of similar meaning or that are otherwise tied to future periods or future performance, in each case in all forms of speech and derivative forms, or similar words, as well as any projections of future events or results. Forward-looking statements, by their nature, are subject to a variety of assumptions, risks, and uncertainties that could cause actual results to differ materially from the results projected. Many of these risks and uncertainties cannot be controlled by the Company. Factors that may cause our actual decisions or results to differ materially from those contemplated by these forward-looking statements include, among other things, the factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as updated by the Company’s Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2024, June 30, 2024 and September 30, 2024 and any other documents we file with the SEC.

Forward-looking statements speak only as of the date the statement was made and the Company undertakes no obligation to update such forward-looking statements except as required by law. There can be no assurance that other factors not currently disclosed or anticipated by the Company will not materially adversely affect our results of operations or plans. Investors are cautioned not to place undue reliance on any forward-looking statements made by us or on our behalf.

Contact: Steven Schwartz
Treasurer, Head of Investor Relations
888-221-1234 ext. 3763
sschwartz@american-equity.com

The MIL Network –

January 25, 2025
MIL-OSI: Marquette National Corporation Increases Quarterly Dividend 10.7 Percent and Announces a Common Stock Repurchase Program

Source: GlobeNewswire (MIL-OSI)

CHICAGO, Jan. 24, 2025 (GLOBE NEWSWIRE) — Marquette National Corporation (OTCQX: MNAT) today announced that its Board of Directors declared a cash dividend of $0.31 per share, an increase of 10.7% from the previous quarter dividend rate. The dividend will be payable on April 1, 2025 to shareholders of record on March 14, 2025. As of December 31, 2024, Marquette had 4,367,477 shares issued and outstanding.

The Company also announced that its Board of Directors authorized the repurchase of up to $1,000,000 of its outstanding common stock at prevailing market prices through open market or negotiated transactions. The repurchase program is authorized to last through December 31, 2025.

Marquette National Corporation is a diversified bank holding company with total assets of $2.2 billion. The Company’s banking subsidiary, Marquette Bank, is a full-service, community bank that serves the financial needs of communities in Chicagoland, offering an extensive line of financial solutions, including retail banking, real estate lending, trust, insurance, investments, wealth management and business banking to consumers and commercial customers. Marquette Bank has 20 branches located in: Chicago, Bolingbrook, Bridgeview, Evergreen Park, Hickory Hills, Lemont, New Lenox, Oak Forest, Oak Lawn, Orland Park, Summit and Tinley Park, Illinois. For more information visit: https://emarquettebank.com

Special Note Concerning Forward-Looking Statements
This document contains, and future oral and written statements of the Company and its management may contain, forward-looking statements with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should” or other similar expressions. A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. These factors include, among others, the following: (i) the strength of the local, state, national and international economies (including the effects of inflationary pressures and supply chain constraints); (ii) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics, acts of war or other threats thereof (including the ongoing Israeli-Palestinian conflict and the Russian invasion of Ukraine), or other adverse external events that could cause economic deterioration or instability in credit markets, and the response of the local, state and national governments to any such adverse external events; (iii) changes in accounting policies and practices, as may be adopted by state and federal regulatory agencies, the Financial Accounting Standards Board or the Public Company Accounting Oversight Board; (iv) changes in local, state and federal laws, regulations and governmental policies concerning the Company’s general business as a result of the upcoming 2024 presidential election or any changes in response to failures of other banks; (v) changes in interest rates and prepayment rates of the Company’s assets (including the impact of the significant rate increases by the Federal Reserve since 2022); (vi) increased competition in the financial services sector (including from non-bank competitors such as credit unions and “fintech” companies) and the inability to attract new customers; (vii) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (viii) the loss of key executives or employees; (ix) changes in consumer spending; (x) unexpected outcomes of existing or new litigation involving the Company; (xi) the economic impact of exceptional weather occurrences such as tornadoes, floods and blizzards; (xii) fluctuations in the value of securities held in our securities portfolio; (xiii) concentrations within our loan portfolio, large loans to certain borrowers, and large deposits from certain clients; (xiv) the concentration of large deposits from certain clients who have balances above current Federal Deposit Insurance Corporation insurance limits and may withdraw deposits to diversity their exposure; (xv) the level of non-performing assets on our balance sheets; (xvi) interruptions involving our information technology and communications systems or third-party servicers; (xvii) breaches or failures of our information security controls or cybersecurity-related incidents, and (xviii) the ability of the Company to manage the risks associated with the foregoing as well as anticipated.. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.

The MIL Network –

January 25, 2025
MIL-OSI: CareCloud Shareholders Tentatively Approve Proposal to Increase Authorized Common Shares with Record Voter Turnout

Source: GlobeNewswire (MIL-OSI)

SOMERSET, N.J., Jan. 24, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (the “Company” or “CareCloud”) (Nasdaq: CCLD, CCLDO, CCLDP), a leading provider of healthcare information technology and generative AI solutions for medical practices and health systems nationwide, today announced that shareholders have tentatively approved the proposal to increase the number of authorized common shares.

Approximately 10.4 million votes by proxy have been returned (the “votes”) in favor of increasing the authorized number of shares of common stock from 35 million to 85 million shares, marking one of the highest levels of positive votes in the Company’s history. The votes in favor represent over 80% of the total votes submitted.

“We truly appreciate the shareholders’ confidence in the Company’s direction, reflected in the nearly record-breaking number of ‘yes’ votes received by proxy,” said Stephen Snyder, Co-CEO of CareCloud.

The final vote count will be announced after the Common Stock Shareholder Special Meeting, scheduled for January 27, 2025.

About CareCloud

CareCloud brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs. Learn more about our products and services including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at http://www.carecloud.com.

Follow CareCloud on LinkedIn, X and Facebook.

SOURCE CareCloud

Company Contact:
Norman Roth
Interim Chief Financial Officer and Corporate Controller
CareCloud, Inc.
nroth@carecloud.com

Investor Contact:
Stephen Snyder
Co-CEO
CareCloud, Inc.
ir@carecloud.com

The MIL Network –

January 25, 2025

MIL-OSI: Lakeland Financial Reports Annual Net Income of $93.5 million, Organic Average Loan Growth of 5% and Average Deposit Growth of 4%

Source: GlobeNewswire (MIL-OSI)

WARSAW, Ind., Jan. 24, 2025 (GLOBE NEWSWIRE) — Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported net income of $93.5 million for the year ended December 31, 2024, versus $93.8 million for the year ended December 31, 2023. Diluted earnings per share were $3.63 for the twelve months ended December 31, 2024, versus $3.65 for 2023.

Net income was $24.2 million for the three months ended December 31, 2024, a decrease of $5.4 million, or 18%, compared with net income of $29.6 million for the three months ended December 31, 2023. Diluted earnings per share of $0.94 for the fourth quarter of 2024 decreased by 19% from $1.16 for the fourth quarter of 2023. On a linked quarter basis, net income increased 4%, or $852,000, from third quarter 2024 net income of $23.3 million. Linked quarter diluted earnings per share improved by 3% from $0.91 for the third quarter of 2024.

Pretax pre-provision earnings, which is a non-GAAP measure, were $128.4 million for the twelve months ended December 31, 2024, an increase of $12.3 million, or 11%, compared to $116.2 million for the twelve months ended December 31, 2023. Pretax pre-provision earnings were $32.9 million for the three months ended December 31, 2024, a decrease of $3.4 million, or 9%, compared to $36.4 million for the three months ended December 31, 2023. Pretax pre-provision earnings increased by $2.1 million, or 7%, compared to $30.8 million on a linked quarter basis.

“2024 continued a long and consistent trend of organic growth in our balance sheet. We successfully expanded both our loan and deposit franchises during the year,” stated David M. Findlay, Chairman and CEO. “We are particularly pleased with the 9-basis point expansion of our net interest margin on a linked quarter basis as we effectively managed the balance sheet throughout the year.”

Quarterly Financial Performance

Fourth Quarter 2024 versus Fourth Quarter 2023 highlights:

Tangible book value per share grew by $1.25, or 5%, to $26.47
Total risk-based capital ratio improved to 15.90%, compared to 15.47%
Tangible capital ratio improved to 10.19%, compared to 9.91%
Average loans grew by $206.9 million, or 4%, to $5.09 billion
Core deposit growth of $274.3 million, or 5%, to $5.9 billion
Average equity increased by $121.1 million, or 21%
Return on average equity of 13.87%, compared to 20.52%
Return on average assets of 1.42%, compared to 1.80%
Net interest margin improved to 3.25% versus 3.23%
Net interest income increased by $3.1 million, or 6%
Noninterest expense increased by $1.2 million, or 4%
Provision expense of $3.7 million, compared to $300,000
Net charge offs of $1.4 million versus $433,000
Watch list loans as a percentage of total loans increased to 4.13% from 3.72%

Fourth Quarter 2024 versus Third Quarter 2024 highlights:

Total risk-based capital ratio improved to 15.90% from 15.75%
Average equity growth of $23.6 million, or 4%
Average loans grew by $22.3 million, or less than 1%, to $5.09 billion
Core deposits increased by $118.6 million, or 2%, to $5.8 billion
Net interest margin improved 9 basis points to 3.25% versus 3.16%
Return on average equity of 13.87%, compared to 13.85%
Return on average assets of 1.42%, compared to 1.39%
Noninterest income decreased by $41,000, or less than 1%
Noninterest expense increased by $260,000, or 1%
Provision expense of $3.7 million, compared to $3.1 million
Individually analyzed and watch list loans declined by $56.4 million, or 21%
Watch list loans as a percentage of total loans improved to 4.13% from 5.27%

Capital Strength

The company’s total capital as a percentage of risk-weighted assets improved to 15.90% at December 31, 2024, compared to 15.47% at December 31, 2023 and 15.75% at September 30, 2024. These capital levels significantly exceeded the 10.00% regulatory threshold required to be characterized as “well capitalized” and reflect the company’s robust capital base.

The company’s tangible common equity to tangible assets ratio, which is a non-GAAP financial measure, improved to 10.19% at December 31, 2024, compared to 9.91% at December 31, 2023. The tangible common equity ratio contracted from 10.47% at September 30, 2024. Unrealized losses from available-for-sale investment securities were $191.1 million at December 31, 2024, compared to $174.6 million at December 31, 2023 and $154.5 million at September 30, 2024. Excluding the impact of accumulated other comprehensive income (loss) on tangible common equity and tangible assets, the company’s ratio of adjusted tangible common equity to adjusted tangible assets, a non-GAAP financial measure, improved to 12.37% at December 31, 2024, compared to 11.99% at December 31, 2023 and 12.29% at September 30, 2024.

As announced on January 14, 2025, the board of directors approved a cash dividend for the fourth quarter of $0.50 per share, payable on February 5, 2025, to shareholders of record as of January 25, 2025. The fourth quarter dividend per share represents a 4% increase from the $0.48 dividend per share paid for the fourth quarter of 2023.

“The continued growth in our capital base supports the increase in our dividend rate paid to shareholders and contributes to the growth in total return for shareholders. The compounded annual growth rate for our dividend is 15% since 2012,” stated Kristin L. Pruitt, President.

Loan Portfolio

Average total loans for the twelve months ended December 31, 2024 were $5.04 billion, an increase of $225.7 million, or 5%, from $4.81 billion for the twelve months ended December 31, 2023. Average total loans of $5.09 billion in the fourth quarter of 2024, increased $206.9 million, or 4%, from $4.88 billion for the fourth quarter of 2023, and increased $22.3 million, or less than 1%, from $5.06 billion for the third quarter of 2024.

“Loan growth in 2024 benefited from healthy increases in both our commercial and consumer lending activities,” noted Findlay. “We were pleased to report 8% growth in consumer loans, 6% growth in CRE and multi-family loans, and 2% growth in commercial and industrial loans for 2024. Our Indiana markets continue to benefit from expanding economic activity stimulated by the pro-business operating environment. We continue to be focused on active business development efforts in every market and we are looking forward to continued organic growth in 2025.”

Total loans, net of deferred loan fees, increased by $200.6 million, or 4%, from $4.92 billion as of December 31, 2023 to $5.12 billion as of December 31, 2024. The increase in loans occurred across much of the portfolio with our commercial real estate and multi-family residential loan portfolio growing by $155.0 million, or 6%, our commercial and industrial loan portfolio growing by $30.1 million, or 2%, and our consumer 1-4 family mortgage loans portfolio growing by $34.0 million, or 7%. These increases were offset by a decrease to other commercial loans of $25.1 million, or 21%. On a linked quarter basis, total loans, net of deferred loan fees, increased by $35.7 million, or 1%, from $5.08 billion at September 30, 2024. The linked quarter increase was primarily a result of growth in total commercial real estate and multi-family residential loans of $42.7 million, or 2%, and growth in total agri-business and agricultural loans of $29.0 million, or 8%. Offsetting these increases was a decrease in total commercial and industrial loans of $42.0 million, or 3%.

Commercial loan originations for the fourth quarter included approximately $390.0 million in loan originations, offset by approximately $359.0 million in commercial loan pay downs. Line of credit usage increased to 41% as of December 31, 2024, compared to 39% at December 31, 2023 and was unchanged from 41% as of September 30, 2024. Total available lines of credit contracted by $238.0 million, or 5%, as compared to a year ago, and line usage decreased by $2.0 million, or less than 1%, over that period. The company has limited exposure to commercial office space borrowers, all of which are in the bank’s Indiana markets. Loans totaling $101.7 million for this sector represented 2% of total loans at December 31, 2024, a decrease of $899,000, or 1%, from September 30, 2024. Commercial real estate loans secured by multi-family residential properties and secured by non-farm non-residential properties were approximately 213% of total risk-based capital at December 31, 2024.

Diversified Deposit Base

The bank’s diversified deposit base has grown on a year over year basis and on a linked quarter basis.


DEPOSIT DETAIL (unaudited, in thousands)

	December 31, 2024				September 30, 2024				December 31, 2023
Retail	$	1,780,726	30.2	%	$	1,709,899	29.3	%	$	1,794,958	31.4	%
Commercial		2,269,049	38.4			2,304,041	39.5			2,227,147	38.9
Public funds		1,809,631	30.7			1,726,869	29.6			1,563,015	27.3
Core deposits		5,859,406	99.3			5,740,809	98.4			5,585,120	97.6
Brokered deposits		41,560	0.7			96,504	1.6			135,405	2.4
Total	$	5,900,966	100.0	%	$	5,837,313	100.0	%	$	5,720,525	100.0	%

Total deposits increased $180.4 million, or 3%, from $5.72 billion as of December 31, 2023 to $5.90 billion as of December 31, 2024. The increase in total deposits was driven by an increase in core deposits (which excludes brokered deposits) of $274.3 million, or 5%. Total core deposits at December 31, 2024 were $5.86 billion and represented 99% of total deposits, as compared to $5.59 billion and 98% of total deposits at December 31, 2023. Brokered deposits were $41.6 million, or 1% of total deposits, at December 31, 2024, compared to $135.4 million, or 2% of total deposits, at December 31, 2023.

The increase in core deposits since December 31, 2023 reflects growth in commercial deposits and public funds deposits. Public funds deposits grew annually by $246.6 million, or 16%, to $1.81 billion. Commercial deposits grew annually by $41.9 million, or 2%, to $2.27 billion. Retail deposits contracted annually by $14.2 million, or 1%, to $1.78 billion. The increase in public funds deposits drove the change in the composition of core deposits as public funds deposits as a percentage of total deposits increased to 31%, from 27%. Commercial and retail deposits as a percentage of total deposits contracted to 38%, from 39%, and to 30%, from 31%, respectively. Growth in public funds was positively impacted by the addition of a new public funds customers in the Lake City Bank footprint which included the addition of their operating accounts.

On a linked quarter basis, total deposits increased $63.7 million, or 1%, from $5.84 billion at September 30, 2024 to $5.90 billion at December 31, 2024. Core deposits increased by $118.6 million, or 2%, while brokered deposits decreased by $54.9 million, or 57%. Linked quarter growth in core deposits resulted primarily from an increase in public funds deposits of $82.8 million, or 5%, and growth in retail deposits of $70.8 million, or 4%. Offsetting these increases was a decrease in commercial deposits of $35.0 million, or 2%.

“Core deposit growth was steady throughout 2024 and accounts for 99% of the funding sources for Lake City Bank,” commented Findlay. “We are pleased that our growth in core deposits came from every region of the bank. We continue to successfully fund the loan growth with in-market stable and diversified deposit growth. We continue to gain market share in our more mature Northern Indiana markets and implemented strategies to enhance growth in the Indianapolis market through data-driven marketing and business development efforts.”

Average total deposits were $6.01 billion for the fourth quarter of 2024, an increase of $208.5 million, or 4%, from $5.80 billion for the fourth quarter of 2023. Average interest-bearing deposits drove the increase in average total deposits and increased by $301.1 million, or 7%. Contributing to the overall growth of interest-bearing deposits was an increase to average interest-bearing checking accounts of $431.9 million, or 14%. Offsetting this increase was a reduction in average time deposits of $98.9 million, or 9%, and a decrease to average savings deposits of $31.9 million, or 10%. Average noninterest-bearing demand deposits decreased by $92.5 million, or 7%.

On a linked quarter basis, average total deposits increased by $130.9 million, or 2%, from $5.88 billion for the third quarter of 2024 to $6.01 billion for the fourth quarter of 2024. Average interest-bearing deposits drove the increase to total average deposits, which increased by $93.2 million, or 2%. An increase to interest bearing checking accounts of $209.6 million, or 6%, drove the increase to average interest-bearing deposits on a linked quarter basis. Offsetting this increase was a decrease to total average time deposits of $111.1 million, or 10%. Average noninterest-bearing demand deposits increased by $37.7 million, or 3%.

Checking account trends as of December 31, 2024 compared to December 31, 2023, include growth of $310.5 million, or 24%, in aggregate public fund checking account balances, growth of $24.5 million, or 1%, in aggregate commercial checking account balances, and expansion of $34.4 million, or 4%, in aggregate retail checking account balances. The number of accounts has also grown for all three segments, with growth of 7% for public funds accounts, 2% for commercial accounts and 1% for retail accounts during 2024.

Deposits not covered by FDIC deposit insurance as a percentage of total deposits were 62% as of December 31, 2024, compared to 61% at September 30, 2024, and 57% at December 31, 2023, reflecting the growth in public fund deposits over the period. Deposits not covered by FDIC deposit insurance or the Indiana Public Deposit Insurance Fund (which insures public funds deposits in Indiana), were 32% of total deposits as of December 31, 2024, compared to 32% at September 30, 2024, and 31% as of December 31, 2023. As of December 31, 2024, 98% of deposit accounts had deposit balances less than $250,000.

Net Interest Margin

Net interest margin was 3.25% for the fourth quarter of 2024, representing a 2 basis point increase from 3.23% for the fourth quarter of 2023. Earning assets yields decreased by 15 basis points to 5.81% for the fourth quarter of 2024 from 5.96% for the fourth quarter of 2023. The decrease in earning asset yields was offset by a decrease in the company’s funding costs of 17 basis points as interest expense as a percentage of average earning assets decreased to 2.56% for the fourth quarter of 2024, compared to 2.73% for the fourth quarter of 2023.

Linked quarter net interest margin expanded by 9 basis point to 3.25% for the fourth quarter of 2024, compared to 3.16% for the third quarter of 2024. Average earning asset yields decreased by 23 basis points from 6.04% during the third quarter of 2024 to 5.81% during the fourth quarter of 2024 and were offset by a 32 basis point decrease in interest expense as a percentage of average earning assets from 2.88% to 2.56%. The cumulative 100 basis point decline in the Federal Funds Rate during 2024, drove the reduction in funding costs that provided for the net interest margin expansion through deposit repricing. Notably, the deposit mix shift from noninterest bearing deposits to interest bearing deposits experienced by the company during the monetary tightening cycle of March 2022 through September 2024 has stabilized with noninterest bearing deposits representing 22% of total deposits at December 31, 2024, compared to 24% at December 31, 2023 and 22% at September 30, 2024.

“Our thoughtful and strategic balance sheet management strategies led to healthy net interest margin expansion of 9 basis points during the fourth quarter,” noted Lisa M. O’Neill, Executive Vice-President and Chief Financial Officer. “Net interest margin expansion resulted from reduced deposit costs that outpaced loan repricing due to falling short term rates. Our public fund balances are largely tied to the effective federal funds rate, and we also continue to benefit from fixed rate loan repricing to the higher interest rate environment.”

The loan beta for the current rate-easing cycle is 25% compared to the deposit beta of 31%. The cumulative loan beta, which measures the sensitivity of a bank’s average loan yield to changes in short-term interest rates, was 56% for the recent rate-tightening cycle. The cumulative deposit beta, which measures the sensitivity of a bank’s deposit cost to changes in short-term interest rates, was 54% for the recent rate-tightening cycle.

Liquidity Overview

The bank has robust liquidity resources. These resources include secured borrowings available from the Federal Home Loan Bank and the Federal Reserve Bank Discount Window. In addition, the bank has unsecured borrowing capacity through long established relationships within the brokered deposits markets, federal funds lines from correspondent bank partners, and Insured Cash Sweep (ICS) one-way buy funds available from the Intrafi network. As of December 31, 2024, the company had access to an aggregate of $3.7 billion in liquidity from these sources, compared to $3.4 billion at December 31, 2023 and $3.7 billion at September 30, 2024. Utilization from these sources totaled $41.6 million at December 31, 2024, compared to $185.4 million at December 31, 2023 and $96.5 million at September 30, 2024. Core deposits have historically represented, and currently represent, the primary funding resource of the bank at 99% of total deposits and purchased funds.

Investment Portfolio Overview

Total investment securities were $1.12 billion at December 31, 2024, reflecting a decrease of $58.7 million, or 5%, as compared to $1.18 billion at December 31, 2023. On a linked quarter basis, investment securities decreased $24.8 million, or 2%, due primarily to a decline in the fair market value of available-for-sale securities of $36.6 million, portfolio cash flows of $15.1 million and partially offset by investment security purchases of $30 million. Investment securities represented 17% of total assets on December 31, 2024, compared to 18% at December 31, 2023 and 17% at September 30, 2024. The ratio of investment securities as a percentage of total assets remains elevated over historical levels of approximately 12% to 14%. The company expects the investment securities portfolio as a percentage of assets to continue to decrease over time as the proceeds from pay downs, sales and maturities are used to fund loan growth and for general liquidity purposes. Tax equivalent adjusted effective duration for the investment portfolio was 6.0 years at December 31, 2024, compared to 6.5 years and 6.3 years at December 31, 2023 and September 30, 2024, respectively. Tax equivalent adjusted effective duration of the investment portfolio remains elevated as compared to 4.0 years at December 31, 2019 prior to the deployment of excess liquidity to the investment portfolio and the impact of the higher interest rate environment. The company anticipates receiving principal and interest cash flows of approximately $104.2 million during 2025 from the investment securities portfolio and plans to use that liquidity to fund loan growth and to fund new investment securities purchases.

Net interest income decreased by $356,000, or less than 1%, for the twelve months ended December 31, 2024, as compared to the twelve months ended December 31, 2023. Deposit interest expense increased by $35.0 million. Offsetting the increase in deposit interest expense was an increase in loan interest income of $29.8 million and a reduction in borrowings interest expense of $4.7 million. Net interest income was $51.7 million for the fourth quarter of 2024, representing an increase of $3.1 million, or 6%, as compared to the fourth quarter of 2023. Net interest income for the fourth quarter of 2024 benefited from an increase in loan interest income of $1.9 million and a reduction in interest expense of $667,000 compared to the prior year quarter. On a linked quarter basis, net interest income increased $2.4 million, or 5%, from $49.3 million for the third quarter of 2024. On a linked quarter basis, the increase to net interest income was driven by a $4.1 million reduction in interest expense and a $1.1 million increase in income from short-term investments. Offsetting the reduction in interest expense was a reduction in loan interest income of $2.9 million.

On a full year basis, revenue increased by $6.6 million, or 3%, to $253.5 million as compared to $246.9 million for 2023. Revenue was $63.6 million for the fourth quarter 2024 representing a decrease of $ 2.2 million or 3%, as compared to the fourth quarter of 2023. On a linked quarter basis, revenue increased by $2.4 million, or 4% from $61.2 million in the third quarter of 2024.

Asset Quality

Provision expense was $16.8 million for the year ended December 31, 2024, an increase of $10.9 million, or 186%, as compared to $5.9 million during 2023. The elevated provision recorded during 2024 as compared to the prior year was primarily driven by an increase in specific allocations from the downgrade of a $43.3 million credit to an industrial company in Northern Indiana. The relationship was placed on nonperforming status in conjunction with the downgrade, which occurred during the second quarter of 2024. Additional specific allocations of $5.5 million were reserved for this credit during the fourth quarter of 2024. The company recorded a provision expense of $3.7 million in the fourth quarter of 2024, compared to provision expense of $300,000 in the fourth quarter of 2023. On a linked quarter basis, provision expense increased by $632,000 from $3.1 million for the third quarter of 2024, or 21%.

The allowance for credit loss reserve to total loans was 1.68% at December 31, 2024, up from 1.46% at December 31, 2023, and 1.65% at September 30, 2024. Net charge offs were $2.8 million for the full year 2024 compared to $6.5 million for 2023. Net charge offs to total loans were 0.05% for 2024 compared to 0.13% for 2023. Net charge offs in the fourth quarter of 2024 were $1.4 million compared to $433,000 in the fourth quarter of 2023 and $143,000 during the linked third quarter of 2024. Annualized net charge offs to average loans were 0.11% for the fourth quarter of 2024, compared to 0.04% for the fourth quarter of 2023, and 0.01% for the linked third quarter of 2024.

Nonperforming assets increased $40.8 million, or 253%, to $56.9 million as of December 31, 2024, versus $16.1 million as of December 31, 2023. On a linked quarter basis, nonperforming assets decreased $1.2 million, or 2%, compared to $58.1 million as of September 30, 2024. The ratio of nonperforming assets to total assets at December 31, 2024 increased to 0.85% from 0.25% at December 31, 2023 and decreased from 0.87% at September 30, 2024. The full-year increase in nonperforming assets was primarily driven by the industrial borrower relationship referenced above.

Total individually analyzed and watch list loans increased by $28.1 million, or 15%, to $211.1 million as of December 31, 2024, versus $183.1 million as of December 31, 2023. On a linked quarter basis, total individually analyzed and watch list loans decreased by $56.4 million, or 21%, from $267.6 million at September 30, 2024. Watch list loans as a percentage of total loans increased by 41 basis points to 4.13% at December 31, 2024, compared to 3.72% at December 31, 2023, and decreased by 114 basis points from 5.27% at September 30, 2024. The linked quarter decrease in total individually analyzed and watch list loans was primarily driven by the removal of six relationships from the watch list with an aggregate balance of $63.7 million, offset by the addition of four downgraded credits with an aggregated balance of $8.4 million. Approximately $45.5 million of the watch list removals were attributable to credit upgrades, with the remaining $18.2 million in removals attributable to payoffs.

“We are encouraged by the $56 million decrease in watch list credits during the quarter and are cautiously optimistic following our fourth quarter, semi-annual portfolio reviews meetings during which we review every commercial banker’s portfolio,” stated Findlay. “Economic conditions in all of our markets remain stable and we continue to actively manage our loan portfolio challenges.”

Noninterest Income

Noninterest income increased by $7.0 million, or 14%, to $56.8 million for the twelve months ended December 31, 2024, compared to $49.9 million for the prior year. The increase in noninterest income for the twelve months ended December 31, 2024 was primarily driven by the net gain on sale of Visa shares of $9.0 million. Contributing further to the increase in noninterest income was an increase to wealth and advisory fees of $1.4 million, or 15%, driven by growth in customers and favorable market performance. Bank owned life insurance income increased $1.1 million, or 34%, due to favorable market performance of the company’s variable bank owned life insurance policies. Offsetting these increases was a $4.5 million, or 49%, decrease to other income. Other income was elevated during the twelve months ended December 31, 2023 from insurance and loss recoveries of $6.3 million that were related to the 2023 wire fraud loss. Offsetting the impact of these recoveries was increased investment income from the company’s limited partnership investments and the receipt of an additional $1.0 million in recoveries from the wire fraud loss. Adjusted core noninterest income, a non-GAAP financial measure that excludes the effects of certain non-routine operating events, was $46.8 million for the twelve months ended December 31, 2024, an increase of $3.3 million, or 8%, compared to $43.6 million for twelve months ended December 31, 2023.

Findlay added, “It is very gratifying to report strong growth in core noninterest income for 2024. Our fee-based lines of business made significant contributions to revenue growth during the year. Notably, Wealth Advisory fees grew by 15% and treasury management fees grew by 5%. As we move into 2025, our teams continue to be focused on driving continued growth in these business lines.”

The company’s noninterest income decreased $5.3 million, or 31%, to $11.9 million for the fourth quarter of 2024, compared to $17.2 million for the fourth quarter of 2023. Wealth advisory fees increased $388,000, or 17%, and bank owned life insurance increased $476,000, or 64%. Other income decreased $6.5 million, or 89%. Other income was elevated during the fourth quarter of 2023 primarily due to insurance and loss recoveries of $6.3 million related to the wire fraud loss. Adjusted core noninterest income was $11.9 million for the fourth quarter of 2024, an increase of $968,000, or 9%, compared to $10.9 million for the fourth quarter of 2023.

On a linked quarter basis, noninterest income for the fourth quarter of 2024 decreased by $41,000, or less than 1%, from $11.9 million during the third quarter of 2024. The linked quarter decrease was driven by a decrease to other income of $261,000, or 25%, and was offset by an increase to bank owned life insurance income $148,000, or 14%.

Noninterest Expense

Noninterest expense decreased by $5.6 million, or 4%, from $130.7 million to $125.1 million for the twelve months ended December 31, 2023 and 2024, respectively. Noninterest expense during 2023 was elevated as compared to 2024 due to the wire fraud loss, which added a net $16.7 million to noninterest expense. Offsetting this impact on noninterest expense was a $7.6 million, or 13%, increase in salaries and employees benefits during the full year 2024. The increase to salaries and benefits expense resulted primarily from increases to salaries and wages of $3.2 million, performance-based incentive compensation of $2.3 million, health insurance expense of $918,000, and variable deferred compensation of $950,000, which relates to the company’s variable bank owned life insurance. Other expense increased $2.6 million, or 24%, primarily due to an accrued legal expense of $4.5 million. Data processing fees and supplies increased by $1.2 million, or 8%, from the continued investment in customer-facing and operational technology solutions. Adjusted core noninterest expense, a non-GAAP financial measure that excludes the effects of certain non-routine operating events, was $120.5 million for the twelve months ended December 31, 2024, an increase of $6.5 million, or 6%, compared to $114.0 million for the twelve months ended December 31, 2023.

Noninterest expense increased $1.2 million, or 4%, to $30.7 million for the fourth quarter of 2024, compared to $29.4 million during the fourth quarter of 2023. Driving the fourth quarter 2024 increase to noninterest expense was an increase to salaries and benefits expense of $1.5 million, or 10%, which was primarily attributable to increased salary expense of $825,000, deferred compensation of $414,000 and increased health insurance of $222,000. Other expense decreased by $595,000, or 20%, from lower legal accruals. Adjusted core noninterest expense increased by $1.7 million, or 6%, from $29.0 million during the fourth quarter of 2023.

On a linked quarter basis, noninterest expense increased by $260,000, or 1%, from $30.4 million during the third quarter of 2024. Driving the increase in noninterest expense was an increase in salaries and employee benefits of $785,000, or 5% primarily due to performance-based incentive compensation. Corporate and business development expense decreased by $419,000, or 31%, which was driven by a reduction in advertising expense during the quarter. Other expense decreased by $132,000, or 5%.

The company’s efficiency ratio for the twelve months ended December 31, 2024 was 49.3% compared to 52.9% for the twelve months ended December 31, 2023. The company’s adjusted core efficiency ratio, a non-GAAP financial measure that excludes the impact of certain non-routine operating events, was 49.5% for the twelve months ended December 31, 2024 as compared to 47.4% for the twelve months ended December 31, 2023.

The company’s efficiency ratio was 48.2% for the fourth quarter of 2024, compared to 44.7% for the fourth quarter of 2023 and 49.7% for the linked third quarter of 2024. The company’s adjusted core efficiency ratio was 48.7% for the fourth quarter of 2023 and unchanged when compared to the company’s efficiency ratio for the third and fourth quarters of 2024.

Information regarding Lakeland Financial Corporation may be accessed on the home page of its subsidiary, Lake City Bank, at lakecitybank.com. The company’s common stock is traded on the Nasdaq Global Select Market under “LKFN.” Lake City Bank, a $6.7 billion bank headquartered in Warsaw, Indiana, was founded in 1872 and serves Central and Northern Indiana communities with 54 branch offices and a robust digital banking platform. Lake City Bank’s community banking model prioritizes building in-market long-term customer relationships while delivering technology-forward solutions for retail and commercial clients.

This document contains, and future oral and written statements of the company and its management may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of the company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “continue,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should” or other similar expressions. The company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain and, accordingly, the reader is cautioned not to place undue reliance on any forward-looking statements made by the company. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the company undertakes no obligation to update any statement in light of new information or future events. Numerous factors could cause the company’s actual results to differ from those reflected in forward-looking statements, including the effects of economic, business and market conditions and changes, particularly in our Indiana market area, including prevailing interest rates and the rate of inflation; governmental monetary and fiscal policies; the risks of changes in interest rates on the levels, composition and costs of deposits, loan demand and the values and liquidity of loan collateral, securities and other interest sensitive assets and liabilities; and changes in borrowers’ credit risks and payment behaviors, as well as those identified in the company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.


LAKELAND FINANCIAL CORPORATION FOURTH QUARTER 2024 FINANCIAL HIGHLIGHTS

	Three Months Ended									Twelve Months Ended
(Unaudited – Dollars in thousands, except per share data)	December 31,			September 30,			December 31,			December 31,			December 31,
END OF PERIOD BALANCES	2024			2024			2023			2024			2023
Assets	$	6,678,374		$	6,645,371		$	6,524,029		$	6,678,374		$	6,524,029
Investments		1,122,994			1,147,806			1,181,646			1,122,994			1,181,646
Loans		5,117,948			5,081,990			4,916,534			5,117,948			4,916,534
Allowance for Credit Losses		85,960			83,627			71,972			85,960			71,972
Deposits		5,900,966			5,837,313			5,720,525			5,900,966			5,720,525
Brokered Deposits		41,560			96,504			135,405			41,560			135,405
Core Deposits (1)		5,859,406			5,740,809			5,585,120			5,859,406			5,585,120
Total Equity		683,911			699,181			649,793			683,911			649,793
Goodwill Net of Deferred Tax Assets		3,803			3,803			3,803			3,803			3,803
Tangible Common Equity (2)		680,108			695,378			645,990			680,108			645,990
Adjusted Tangible Common Equity (2)		846,040			832,813			800,450			846,040			800,450
AVERAGE BALANCES
Total Assets	$	6,795,596		$	6,656,464		$	6,514,430		$	6,662,718		$	6,464,980
Earning Assets		6,470,920			6,329,287			6,145,937			6,328,498			6,114,225
Investments		1,134,011			1,128,705			1,107,862			1,134,979			1,184,659
Loans		5,086,614			5,064,348			4,879,695			5,039,406			4,813,678
Total Deposits		6,011,122			5,880,177			5,802,592			5,836,025			5,604,228
Interest Bearing Deposits		4,729,201			4,635,993			4,428,140			4,578,219			4,128,922
Interest Bearing Liabilities		4,729,206			4,649,745			4,441,425			4,644,553			4,295,743
Total Equity		693,744			670,160			572,653			662,087			588,667
INCOME STATEMENT DATA
Net Interest Income	$	51,694		$	49,273		$	48,599		$	196,679		$	197,035
Net Interest Income-Fully Tax Equivalent		52,804			50,383			49,914			201,363			202,347
Provision for Credit Losses		3,691			3,059			300			16,750			5,850
Noninterest Income		11,876			11,917			17,208			56,844			49,858
Noninterest Expense		30,653			30,393			29,445			125,084			130,710
Net Income		24,190			23,338			29,626			93,478			93,767
Pretax Pre-Provision Earnings (2)		32,917			30,797			36,362			128,439			116,183
PER SHARE DATA
Basic Net Income Per Common Share	$	0.94		$	0.91		$	1.16		$	3.64		$	3.67
Diluted Net Income Per Common Share		0.94			0.91			1.16			3.63			3.65
Cash Dividends Declared Per Common Share		0.48			0.48			0.46			1.92			1.84
Dividend Payout		51.06	%		52.75	%		39.66	%		52.89	%		50.41	%
Book Value Per Common Share (equity per share issued)	$	26.62		$	27.22		$	25.37		$	26.62		$	25.37
Tangible Book Value Per Common Share (2)		26.47			27.07			25.22			26.47			25.22
Market Value – High	$	78.61		$	72.25		$	67.88		$	78.61		$	77.07
Market Value – Low		61.10			57.45			45.59			57.45			43.05


	Three Months Ended									Twelve Months Ended
(Unaudited – Dollars in thousands, except per share data)	December 31,			September 30,			December 31,			December 31,			December 31,
PER SHARE DATA (continued)	2024			2024			2023			2024			2023
Basic Weighted Average Common Shares Outstanding		25,686,276			25,684,407			25,614,420			25,676,543			25,604,751
Diluted Weighted Average Common Shares Outstanding		25,792,460			25,767,739			25,732,870			25,769,018			25,723,165
KEY RATIOS
Return on Average Assets		1.42	%		1.39	%		1.80	%		1.40	%		1.45	%
Return on Average Total Equity		13.87			13.85			20.52			14.12			15.93
Average Equity to Average Assets		10.21			10.07			8.79			9.94			9.11
Net Interest Margin		3.25			3.16			3.23			3.18			3.31
Efficiency (Noninterest Expense/Net Interest Income plus Noninterest Income)		48.22			49.67			44.74			49.34			52.94
Loans to Deposits		86.73			87.06			85.95			86.73			85.95
Investment Securities to Total Assets		16.82			17.27			18.11			16.82			18.11
Tier 1 Leverage (3)		12.15			12.18			11.82			12.15			11.82
Tier 1 Risk-Based Capital (3)		14.64			14.50			14.21			14.64			14.21
Common Equity Tier 1 (CET1) (3)		14.64			14.50			14.21			14.64			14.21
Total Capital (3)		15.90			15.75			15.47			15.90			15.47
Tangible Capital (2)		10.19			10.47			9.91			10.19			9.91
Adjusted Tangible Capital (2)		12.37			12.29			11.99			12.37			11.99
ASSET QUALITY
Loans Past Due 30 – 89 Days	$	4,273		$	829		$	3,360		$	4,273		$	3,360
Loans Past Due 90 Days or More		28			95			27			28			27
Nonaccrual Loans		56,431			57,551			15,687			56,431			15,687
Nonperforming Loans		56,459			57,646			15,714			56,459			15,714
Other Real Estate Owned		284			384			384			284			384
Other Nonperforming Assets		143			21			8			143			8
Total Nonperforming Assets		56,886			58,051			16,106			56,886			16,106
Individually Analyzed Loans		78,647			77,654			16,124			78,647			16,124
Non-Individually Analyzed Watch List Loans		132,499			189,918			166,961			132,499			166,961
Total Individually Analyzed and Watch List Loans		211,146			267,572			183,085			211,146			183,085
Gross Charge Offs		1,657			231			566			3,468			7,332
Recoveries		299			88			133			706			848
Net Charge Offs/(Recoveries)		1,358			143			433			2,762			6,484
Net Charge Offs/(Recoveries) to Average Loans		0.11	%		0.01	%		0.04	%		0.05	%		0.13	%
Credit Loss Reserve to Loans		1.68			1.65			1.46			1.68			1.46
Credit Loss Reserve to Nonperforming Loans		152.25			145.07			458.01			152.25			458.01
Nonperforming Loans to Loans		1.10			1.13			0.32			1.10			0.32
Nonperforming Assets to Assets		0.85			0.87			0.25			0.85			0.25
Total Individually Analyzed and Watch List Loans to Total Loans		4.13	%		5.27	%		3.72	%		4.13	%		3.72	%


	Three Months Ended									Twelve Months Ended
(Unaudited – Dollars in thousands, except per share data)	December 31,			September 30,			December 31,			December 31,			December 31,
PER SHARE DATA (continued)	2024			2024			2023			2024			2023
OTHER DATA
Full Time Equivalent Employees		643			639			619			643			619
Offices		54			54			53			54			53

________________________________________________________________
(1)  Core deposits equals deposits less brokered deposits.
(2)  Non-GAAP financial measure – see “Reconciliation of Non-GAAP Financial Measures”.
(3)  Capital ratios for December 31, 2024 are preliminary until the Call Report is filed.


CONSOLIDATED BALANCE SHEETS (in thousands, except share data)

	December 31, 2024			December 31, 2023
	(Unaudited)
ASSETS
Cash and due from banks	$	71,733		$	70,451
Short-term investments		96,472			81,373
Total cash and cash equivalents		168,205			151,824

Securities available-for-sale, at fair value		991,426			1,051,728
Securities held-to-maturity, at amortized cost (fair value of $113,107 and $119,215, respectively)		131,568			129,918
Real estate mortgage loans held-for-sale		1,700			1,158

Loans, net of allowance for credit losses of $85,960 and $71,972		5,031,988			4,844,562

Land, premises and equipment, net		60,489			57,899
Bank owned life insurance		113,320			109,114
Federal Reserve and Federal Home Loan Bank stock		21,420			21,420
Accrued interest receivable		28,446			30,011
Goodwill		4,970			4,970
Other assets		124,842			121,425
Total assets	$	6,678,374		$	6,524,029


LIABILITIES
Noninterest bearing deposits	$	1,297,456		$	1,353,477
Interest bearing deposits		4,603,510			4,367,048
Total deposits		5,900,966			5,720,525

Borrowings – Federal Home Loan Bank advances		0			50,000
Accrued interest payable		15,117			20,893
Other liabilities		78,380			82,818
Total liabilities		5,994,463			5,874,236

STOCKHOLDERS’ EQUITY
Common stock: 90,000,000 shares authorized, no par value
25,978,831 shares issued and 25,509,592 outstanding as of December 31, 2024
25,903,686 shares issued and 25,430,566 outstanding as of December 31, 2023		129,664			127,692
Retained earnings		736,412			692,760
Accumulated other comprehensive income (loss)		(166,500	)		(155,195	)
Treasury stock, at cost (469,239 shares and 473,120 shares as of December 31, 2024 and December 31, 2023, respectively)		(15,754	)		(15,553	)
Total stockholders’ equity		683,822			649,704
Noncontrolling interest		89			89
Total equity		683,911			649,793
Total liabilities and equity	$	6,678,374		$	6,524,029


CONSOLIDATED STATEMENTS OF INCOME (unaudited – in thousands, except share and per share data)

	Three Months Ended December 31,					Twelve Months Ended December 31,
	2024		2023			2024			2023
NET INTEREST INCOME
Interest and fees on loans
Taxable	$	83,253	$	80,631		$	335,639		$	304,130
Tax exempt		296		1,016			2,126			3,885
Interest and dividends on securities
Taxable		2,997		3,187			12,048			13,153
Tax exempt		3,914		4,009			15,714			16,396
Other interest income		2,910		2,099			7,631			5,703
Total interest income		93,370		90,942			373,158			343,267

Interest on deposits		41,676		42,154			172,759			137,791
Interest on short-term borrowings		0		189			3,720			8,441
Total interest expense		41,676		42,343			176,479			146,232

NET INTEREST INCOME		51,694		48,599			196,679			197,035

Provision for credit losses		3,691		300			16,750			5,850

NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES		48,003		48,299			179,929			191,185

NONINTEREST INCOME
Wealth advisory fees		2,699		2,311			10,469			9,080
Investment brokerage fees		456		445			1,894			1,815
Service charges on deposit accounts		2,825		2,682			11,157			10,773
Loan and service fees		2,977		2,968			11,832			11,750
Merchant and interchange fee income		889		907			3,542			3,651
Bank owned life insurance income		1,216		740			4,210			3,133
Interest rate swap fee income		0		0			0			794
Mortgage banking income (loss)		48		(70	)		116			(254	)
Net securities gains (losses)		0		(9	)		(46	)		(25	)
Net gain on Visa shares		0		0			8,996			0
Other income		766		7,234			4,674			9,141
Total noninterest income		11,876		17,208			56,844			49,858

NONINTEREST EXPENSE
Salaries and employee benefits		17,261		15,733			66,728			59,147
Net occupancy expense		1,706		1,486			6,865			6,360
Equipment costs		1,405		1,443			5,612			5,632
Data processing fees and supplies		3,742		3,698			15,161			14,003
Corporate and business development		950		877			4,965			4,807
FDIC insurance and other regulatory fees		894		894			3,465			3,363
Professional fees		2,275		2,299			8,950			8,583
Wire fraud loss		0		0			0			18,058
Other expense		2,420		3,015			13,338			10,757
Total noninterest expense		30,653		29,445			125,084			130,710

INCOME BEFORE INCOME TAX EXPENSE		29,226		36,062			111,689			110,333
Income tax expense		5,036		6,436			18,211			16,566
NET INCOME	$	24,190	$	29,626		$	93,478		$	93,767

BASIC WEIGHTED AVERAGE COMMON SHARES		25,686,276		25,614,420			25,676,543			25,604,751

BASIC EARNINGS PER COMMON SHARE	$	0.94	$	1.16		$	3.64		$	3.67

DILUTED WEIGHTED AVERAGE COMMON SHARES		25,792,460		25,732,870			25,769,018			25,723,165

DILUTED EARNINGS PER COMMON SHARE	$	0.94	$	1.16		$	3.63		$	3.65


LAKELAND FINANCIAL CORPORATION LOAN DETAIL (unaudited, in thousands)

	December 31, 2024					September 30, 2024					December 31, 2023
Commercial and industrial loans:
Working capital lines of credit loans	$	649,609		12.7	%	$	678,079		13.3	%	$	604,893		12.3	%
Non-working capital loans		801,256		15.6			814,804		16.0			815,871		16.6
Total commercial and industrial loans		1,450,865		28.3			1,492,883		29.3			1,420,764		28.9

Commercial real estate and multi-family residential loans:
Construction and land development loans		567,781		11.1			729,293		14.3			634,435		12.9
Owner occupied loans		807,090		15.8			810,453		15.9			825,464		16.8
Nonowner occupied loans		872,671		17.0			766,821		15.1			724,101		14.7
Multifamily loans		344,978		6.7			243,283		4.8			253,534		5.1
Total commercial real estate and multi-family residential loans		2,592,520		50.6			2,549,850		50.1			2,437,534		49.5

Agri-business and agricultural loans:
Loans secured by farmland		156,609		3.1			157,413		3.1			162,890		3.3
Loans for agricultural production		230,787		4.5			200,971		4.0			225,874		4.6
Total agri-business and agricultural loans		387,396		7.6			358,384		7.1			388,764		7.9

Other commercial loans		95,584		1.9			94,309		1.9			120,726		2.5
Total commercial loans		4,526,365		88.4			4,495,426		88.4			4,367,788		88.8

Consumer 1-4 family mortgage loans:
Closed end first mortgage loans		259,286		5.1			261,462		5.1			258,103		5.2
Open end and junior lien loans		214,125		4.2			210,275		4.1			189,663		3.9
Residential construction and land development loans		16,818		0.3			14,200		0.3			8,421		0.2
Total consumer 1-4 family mortgage loans		490,229		9.6			485,937		9.5			456,187		9.3

Other consumer loans		104,041		2.0			103,547		2.1			96,022		1.9
Total consumer loans		594,270		11.6			589,484		11.6			552,209		11.2
Subtotal		5,120,635		100.0	%		5,084,910		100.0	%		4,919,997		100.0	%
Less: Allowance for credit losses		(85,960	)				(83,627	)				(71,972	)
Net deferred loan fees		(2,687	)				(2,920	)				(3,463	)
Loans, net	$	5,031,988				$	4,998,363				$	4,844,562


LAKELAND FINANCIAL CORPORATION DEPOSITS AND BORROWINGS (unaudited, in thousands)

	December 31, 2024		September 30, 2024		December 31, 2023
Noninterest bearing demand deposits	$	1,297,456	$	1,284,527	$	1,353,477
Savings and transaction accounts:
Savings deposits		276,179		276,468		301,168
Interest bearing demand deposits		3,471,455		3,273,405		3,049,059
Time deposits:
Deposits of $100,000 or more		642,776		787,095		792,738
Other time deposits		213,100		215,818		224,083
Total deposits	$	5,900,966	$	5,837,313	$	5,720,525
FHLB advances and other borrowings		0		30,000		50,000
Total funding sources	$	5,900,966	$	5,867,313	$	5,770,525


LAKELAND FINANCIAL CORPORATION AVERAGE BALANCE SHEET AND NET INTEREST ANALYSIS (UNAUDITED)

	Three Months Ended December 31, 2024							Three Months Ended September 30, 2024							Three Months Ended December 31, 2023
(fully tax equivalent basis, dollars in thousands)	Average Balance			Interest Income		Yield (1)/ Rate		Average Balance			Interest Income		Yield (1)/ Rate		Average Balance			Interest Income		Yield (1)/ Rate
Earning Assets
Loans:
Taxable (2)(3)	$	5,060,397		$	83,253	6.54	%	$	5,037,855		$	86,118	6.80	%	$	4,820,389		$	80,631	6.64	%
Tax exempt (1)		26,217			364	5.52			26,493			366	5.50			59,306			1,265	8.46
Investments: (1)
Securities		1,134,011			7,953	2.79			1,128,705			7,871	2.77			1,107,862			8,262	2.96
Short-term investments		2,765			29	4.17			2,841			35	4.90			2,610			32	4.86
Interest bearing deposits		247,530			2,881	4.63			133,393			1,738	5.18			155,770			2,067	5.26
Total earning assets	$	6,470,920		$	94,480	5.81	%	$	6,329,287		$	96,128	6.04	%	$	6,145,937		$	92,257	5.96	%
Less: Allowance for credit losses		(84,687	)						(81,353	)						(72,165	)
Nonearning Assets
Cash and due from banks		67,994							63,744							69,563
Premises and equipment		60,325							59,493							58,436
Other nonearning assets		281,044							285,293							312,659
Total assets	$	6,795,596						$	6,656,464						$	6,514,430

Interest Bearing Liabilities
Savings deposits	$	274,960		$	43	0.06	%	$	280,180		$	45	0.06	%	$	306,875		$	52	0.07	%
Interest bearing checking accounts		3,505,470			31,562	3.58			3,295,911			33,822	4.08			3,073,570			30,953	4.00
Time deposits:
In denominations under $100,000		214,429			1,921	3.56			215,020			1,914	3.54			220,678			1,810	3.25
In denominations over $100,000		734,342			8,150	4.42			844,882			9,775	4.60			827,017			9,339	4.48
Miscellaneous short-term borrowings		5			0	5.30			13,752			189	5.48			13,285			189	5.64
Total interest bearing liabilities	$	4,729,206		$	41,676	3.51	%	$	4,649,745		$	45,745	3.91	%	$	4,441,425		$	42,343	3.78	%
Noninterest Bearing Liabilities
Demand deposits		1,281,921							1,244,184							1,374,452
Other liabilities		90,725							92,375							125,900
Stockholders’ Equity		693,744							670,160							572,653
Total liabilities and stockholders’ equity	$	6,795,596						$	6,656,464						$	6,514,430
Interest Margin Recap
Interest income/average earning assets					94,480	5.81	%					96,128	6.04	%					92,257	5.96	%
Interest expense/average earning assets					41,676	2.56						45,745	2.88						42,343	2.73
Net interest income and margin				$	52,804	3.25	%				$	50,383	3.16	%				$	49,914	3.23	%

(1)  Tax exempt income was converted to a fully taxable equivalent basis at a 21 percent tax rate. The tax equivalent rate for tax exempt loans and tax exempt securities acquired after January 1, 1983, included the Tax Equity and Fiscal Responsibility Act of 1982 (“TEFRA”) adjustment applicable to nondeductible interest expenses. Taxable equivalent basis adjustments were $1.11 million, $1.11 million and $1.32 million in the three-month periods ended December 31, 2024, September 30, 2024, and December 31, 2023, respectively.
(2)  Loan fees, which are immaterial in relation to total taxable loan interest income for the three months ended December 31, 2024, September 30, 2024, and December 31, 2023, are included as taxable loan interest income.
(3)  Nonaccrual loans are included in the average balance of taxable loans.

Reconciliation of Non-GAAP Financial Measures

Tangible common equity, adjusted tangible common equity, tangible assets, adjusted tangible assets, tangible book value per common share, tangible common equity to tangible assets, adjusted tangible common equity to adjusted tangible assets, and pretax pre-provision earnings are non-GAAP financial measures calculated based on GAAP amounts. Tangible common equity is calculated by excluding the balance of goodwill and other intangible assets from the calculation of equity, net of deferred tax. Tangible assets are calculated by excluding the balance of goodwill and other intangible assets from the calculation of total assets, net of deferred tax. Adjusted tangible assets and adjusted tangible common equity remove the fair market value adjustment impact of the available-for-sale investment securities portfolio in accumulated other comprehensive income (loss) (“AOCI”). Tangible book value per common share is calculated by dividing tangible common equity by the number of shares outstanding less true treasury stock. Pretax pre-provision earnings is calculated by adding net interest income to noninterest income and subtracting noninterest expense. Because not all companies use the same calculation of tangible common equity and tangible assets, this presentation may not be comparable to other similarly titled measures calculated by other companies. However, management considers these measures of the company’s value meaningful to understanding of the company’s financial information and performance.

A reconciliation of these non-GAAP financial measures is provided below (dollars in thousands, except per share data).

	Three Months Ended									Twelve Months Ended
	Dec. 31, 2024			Sep. 30, 2024			Dec. 31, 2023			Dec. 31, 2024			Dec. 31, 2023
Total Equity	$	683,911		$	699,181		$	649,793		$	683,911		$	649,793
Less: Goodwill		(4,970	)		(4,970	)		(4,970	)		(4,970	)		(4,970	)
Plus: DTA Related to Goodwill		1,167			1,167			1,167			1,167			1,167
Tangible Common Equity		680,108			695,378			645,990			680,108			645,990
Market Value Adjustment in AOCI		165,932			137,435			154,460			165,932			154,460
Adjusted Tangible Common Equity		846,040			832,813			800,450			846,040			800,450

Assets	$	6,678,374		$	6,645,371		$	6,524,029		$	6,678,374		$	6,524,029
Less: Goodwill		(4,970	)		(4,970	)		(4,970	)		(4,970	)		(4,970	)
Plus: DTA Related to Goodwill		1,167			1,167			1,167			1,167			1,167
Tangible Assets		6,674,571			6,641,568			6,520,226			6,674,571			6,520,226
Market Value Adjustment in AOCI		165,932			137,435			154,460			165,932			154,460
Adjusted Tangible Assets		6,840,503			6,779,003			6,674,686			6,840,503			6,674,686

Ending Common Shares Issued		25,689,730			25,684,916			25,614,585			25,689,730			25,614,585

Tangible Book Value Per Common Share	$	26.47		$	27.07		$	25.22		$	26.47		$	25.22

Tangible Common Equity/Tangible Assets		10.19	%		10.47	%		9.91	%		10.19	%		9.91	%
Adjusted Tangible Common Equity/Adjusted Tangible Assets		12.37	%		12.29	%		11.99	%		12.37	%		11.99	%

Net Interest Income	$	51,694		$	49,273		$	48,599		$	196,679		$	197,035
Plus: Noninterest Income		11,876			11,917			17,208			56,844			49,858
Minus: Noninterest Expense		(30,653	)		(30,393	)		(29,445	)		(125,084	)		(130,710	)

Pretax Pre-Provision Earnings	$	32,917		$	30,797		$	36,362		$	128,439		$	116,183

Adjusted core noninterest income, adjusted core noninterest expense, adjusted earnings before income taxes, core operational profitability, core operational diluted earnings per common share and adjusted core efficiency ratio are non-GAAP financial measures calculated based on GAAP amounts. These adjusted amounts are calculated by excluding the impact of the net gain on Visa shares, legal accrual, and wire fraud loss and associated insurance and loss recoveries and adjustments to salaries and employee benefits expense for the periods presented below. Management considers these measures of financial performance to be meaningful to understanding the company’s core business performance for these periods.

A reconciliation of these non-GAAP financial measures is provided below (dollars in thousands, except per share data).

	Three Months Ended									Twelve Months Ended
	Dec. 31, 2024			Sep. 30, 2024			Dec. 31, 2023			Dec. 31, 2024			Dec. 31, 2023
Noninterest Income	$	11,876		$	11,917		$	17,208		$	56,844		$	49,858
Less: Net (Gain) Loss on Visa Shares		0			15			0			(8,996	)		0
Less: Insurance and Loss Recoveries		0			0			(6,300	)		(1,000	)		(6,300	)
Adjusted Core Noninterest Income	$	11,876		$	11,932		$	10,908		$	46,848		$	43,558

Noninterest Expense	$	30,653		$	30,393		$	29,445		$	125,084		$	130,710
Less: Legal Accrual		0			0			0			(4,537	)		0
Less: Wire Fraud Loss		0			0			0			0			(18,058	)
Plus: Salaries and Employee Benefits (1)		0			0			(453	)		0			1,397
Adjusted Core Noninterest Expense	$	30,653		$	30,393		$	28,992		$	120,547		$	114,049

Earnings Before Income Taxes	$	29,226		$	27,738		$	36,062		$	111,689		$	110,333
Adjusted Core Impact:
Noninterest Income		0			15			(6,300	)		(9,996	)		(6,300	)
Noninterest Expense		0			0			453			4,537			16,661
Total Adjusted Core Impact		0			15			(5,847	)		(5,459	)		10,361
Adjusted Earnings Before Income Taxes		29,226			27,753			30,215			106,230			120,694
Tax Effect		(5,036	)		(4,404	)		(4,996	)		(16,853	)		(19,119	)
Core Operational Profitability (2)	$	24,190		$	23,349		$	25,219		$	89,377		$	101,575

Diluted Earnings Per Common Share	$	0.94		$	0.91		$	1.16		$	3.63		$	3.65
Impact of Adjusted Core Items		0.00			0.00			(0.18	)		(0.16	)		0.30
Core Operational Diluted Earnings Per Common Share	$	0.94		$	0.91		$	0.98		$	3.47		$	3.95

Adjusted Core Efficiency Ratio		48.22	%		49.66	%		48.72	%		49.49	%		47.40	%

(1) In 2023, long-term, incentive-based compensation accruals were reduced as a result of the wire fraud loss and associated insurance and loss recoveries.
(2) Core operational profitability was $11,000 higher and $4.4 million lower than reported net income for the three months ended September 30, 2024 and December 31, 2023, respectively. Core operational profitability was $4.1 million lower and $7.8 million higher than reported net income for the twelve months ended December 31, 2024 and 2023, respectively.

Contact
Lisa M. O’Neill
Executive Vice President and Chief Financial Officer
(574) 267-9125
lisa.oneill@lakecitybank.com

The MIL Network –

January 25, 2025

MIL-OSI: RYVYL Executes Repurchase and Repayment Agreement with Securityholder to Retire All Outstanding Series B Convertible Preferred Stock and Outstanding Balance of 8% Senior Convertible Note
Source: GlobeNewswire (MIL-OSI)

SAN DIEGO, CA, Jan. 24, 2025 (GLOBE NEWSWIRE) — RYVYL Inc. (NASDAQ: RVYL) (“RYVYL” or the “Company”), a leading innovator of payment transaction solutions leveraging electronic payment technology for diverse international markets, has executed a Preferred Stock Repurchase and Note Repayment Agreement for the full repayment and termination of an 8% Senior Convertible Note (the “Note) and the redemption of all shares of the Company’s Series B Convertible Preferred Stock (the “Preferred Stock”). The Definitive Agreement provides for:
- A first tranche payment of $13.0 million for the redemption of all of the shares of Preferred Stock held by the Securityholder, and payment of a portion of the outstanding balance of the Note so that the remaining outstanding principal balance will be $4.0 million.
- Advancing the maturity date for the remaining balance of $4.0 million due under the Note, following payment of the first tranche, to April 30, 2025.
The Company is required to pay the first tranche payment of $13.0 million on or before January 27, 2025. The first tranche due date may be extended to February 3, 2025, at the sole option of the Company, in consideration for RYVYL’s payment of an additional $50,000.
- Upon payment of the first tranche payment and execution of the Preferred Stock Repurchase and Note Repayment Agreement, certain restrictive covenants contained in the transaction documents pursuant to which the Note and the shares of Preferred Stock were issued will be waived and no additional interest will accrue and be payable, as long as the Company pays the remaining $4.0 million principal balance of the Note ($4,050,000, if the date of the first tranche payment date is extended) on or before April 30, 2025. If the Company fails to pay the remaining balance by such date, the Note will be restored to its terms prior to the first tranche payment, and interest will again accrue and be payable.
- Prior to payment of the first tranche payment, the Securityholder shall retain the ability, subject to certain market limitations, to convert the Note and the Preferred Stock into common stock.
This communication is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security and does not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About RYVYL

RYVYL Inc. (NASDAQ: RVYL) was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business, and peer-to-peer payment transactions around the globe. By leveraging electronic payment technology for diverse international markets, RYVYL is a leading innovator of payment transaction solutions reinventing the future of financial transactions. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity theft protection, and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants, and consumers around the globe. http://www.ryvyl.com

Cautionary Note Regarding Forward-Looking Statements

This press release includes information that constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Company’s current beliefs, assumptions, and expectations regarding future events, which in turn are based on information currently available to the Company. Such forward-looking statements include statements regarding timely payment of the first and second tranches, the benefit to stockholders from the repayment of the note and repurchase of the preferred shares, and the timing and expectation of revenues from the license described herein and are charactered by future or conditional words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information. By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements, including the risk that the licensee understands and complies with various banking laws and regulations that may impact the licensee’s ability to process transactions. For example, federal money laundering statutes and Bank Secrecy Act regulations discourage financial institutions from working with operators of certain industries – particularly industries with heightened cash reporting obligations and restrictions – as a result of which, banks may refuse to process certain payments and/or require onerous reporting obligations by payment processors to avoid compliance risk. These and other risk factors affecting the Company are discussed in detail in the Company’s periodic filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether because of the latest information, future events or otherwise, except to the extent required by applicable laws.

IR Contact:
David Barnard, Alliance Advisors Investor Relations, 415-433-3777, ryvylinvestor@allianceadvisors.com

The MIL Network –
January 25, 2025

MIL-OSI Economics: RBI imposes monetary penalty on Datson Exports Ltd., West Bengal

Source: Reserve Bank of India

The Reserve Bank of India (RBl) has, by an order dated January 15, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Datson Exports Ltd., West Bengal (the company) for non-compliance with certain directions issued by RBI on ‘Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 58 G(1)(b) read with Section 58B(5)(aa) of the Reserve Bank of India Act, 1934.

The statutory inspection of the company was conducted with reference to its financial position as on March 31, 2023. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the company’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia, that the following charge against the company was sustained, warranting imposition of monetary penalty:

The company had outsourced one of its decision-making functions, viz., sanction of loans, to its Digital Lending Application (DLA) partner.

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

(Puneet Pancholy)
Chief General Manager

Press Release: 2024-2025/1999

MIL OSI Economics –

January 25, 2025

MIL-OSI Economics: Reserve Bank of India imposes monetary penalty on Jammu and Kashmir Bank Limited

Source: Reserve Bank of India

The Reserve Bank of India (RBI) has, by an order dated January 14, 2025, imposed a monetary penalty of ₹3,31,80,000 (Rupees Three crore thirty one lakh eighty thousand only) on Jammu and Kashmir Bank Limited (the bank) for non-compliance with certain directions issued by RBI on ‘Financial Inclusion – Access to Banking Services – Basic Savings Bank Deposit Account (BSBDA)’, ‘Know Your Customer’ and ‘Loans and Advances – Statutory and Other Restrictions’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47 A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.

The Statutory Inspection for Supervisory Evaluation of the bank was conducted by RBI with reference to its financial position as on March 31, 2022 and March 31, 2023. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said RBI directions.

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

The bank allowed certain BSBDA holders to also open Savings Bank Deposit Accounts;
The bank did not identify beneficial owner for opening accounts of certain Legal Persons, who were not natural persons;
The bank allowed operations in certain small accounts that did not meet the regulatory requirements; and
The bank sanctioned a working capital demand loan to a Corporation against amounts receivable by way of subsidies from Government.

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

(Puneet Pancholy)
Chief General Manager

Press Release: 2024-2025/2000

MIL OSI Economics –

January 25, 2025

MIL-OSI Economics: Reserve Bank of India imposes monetary penalty on Bank of India

Source: Reserve Bank of India

The Reserve Bank of India (RBI) has, by an order dated January 07, 2025, imposed a monetary penalty of ₹1.00 crore (Rupees One crore only) on Bank of India (the bank) for non-compliance with provisions of Section 26A of the Banking Regulation Act, 1949 (BR Act) read with the ‘Depositor Education and Awareness Fund Scheme, 2014’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the BR Act.

The Statutory Inspection for Supervisory Evaluation (ISE 2023) of the bank was conducted by RBI with reference to its financial position as on March 31, 2023. Based on the supervisory findings of non-compliance with the provisions of BR Act and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said provisions of BR Act.

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

The bank had not transferred eligible amounts to the Depositor Education and Awareness Fund within the prescribed period.

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

(Puneet Pancholy)
Chief General Manager

Press Release: 2024-2025/2001

MIL OSI Economics –

January 25, 2025

MIL-OSI Global: The Brutalist: an architect’s take on a film about one man’s journey to realise his visionary building

Source: The Conversation – UK – By Phevos Kallitsis, Associate Head Academic, School of Architecture Art and Design, University of Portsmouth

For anyone involved in architecture, it’s no surprise that a film focusing on a visionary architect and his profession demands the epic dimensions of cinematography, drama and a running time of 215 minutes, as in Brady Corbet’s The Brutalist. This week the film was nominated in ten Oscar categories including best picture, best director and best actor.

Despite architects being present in film from the early stages of cinema, architecture’s role in society has rarely been at the epicentre of the narrative.

Notable exceptions are King Vidor’s The Fountainhead (1949), where the architect is a vessel for Ayn Rand’s hymn to individualism; Peter Greenaway’s The Belly of an Architect (1987), which looks at the political stance of architects; and last year’s Megalopolis, where the architect is the ultimate coordinator of everyday life. But I never felt these films grasped the reality of architecture’s complex obligations or the challenges beyond designing.

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The Brutalist tells the story of the fictional Hungarian architect László Tóth (Adrian Brody) who, after surviving the Holocaust and forced separation from his wife (Felicity Jones), emigrates to Philadelphia to work in the furniture shop of his prosperous cousin (Alessandro Nivola).

Unexpectedly, Tóth is tasked with refurbishing the study of a wealthy industrialist Harrison Van Buren (Guy Pearce), who despite his initial negative reaction, hires him to design an enormous library in memory of his mother.

In the process, Van Buren takes Tóth under his wing and helps him bring his wife to the US. The commission of the building is a joyous moment, but as the process of design and construction throws up challenges, the tension escalates.

Epic films usually depict the rise and fall of their protagonist, but The Brutalist explores the interconnected fates of the architect and his buildings. Tóth is aware of what is at stake. Once at the top of his game in Hungary, he is ostracised for his modernism which is considered anti-German by the Nazis. He is also condemned for being a Jew.

But Van Buren gives Tóth a second chance after a news story praises the building and he discovers the Hungarian’s previous work and his connection to the radical German Bauhaus movement.

From that point onward, we would expect that Tóth has gained his client’s trust. His joy at getting the authorities’ approval for the building is soon punctured by the obsessive Van Buren hiring consultants to check his work and keep tabs on the budget. Soon Tóth is beset by other problems as a railway accident delays the arrival of materials causing a hiatus.

Restarting the project is accompanied by constant concerns for health and safety and the pressures of any other potential delays. Tóth is also experiencing problems in his personal life, but Corbet and Mona Fastvold’s screenplay is driven by the challenges of realising his vision for this new groundbreaking building.

The Brutalist demonstrates the intrinsic role the client plays and how the architect is beholden to them – in this case necessitating the negotiation of a tricky relationship with the demanding Van Buren. As Italian architect Aldo Rossi writes in his book The Architecture of the City, “the architecture that is going to be realised is always an expression of the dominant class”.

And the dominant class wants things done their way. Tóth is even ready to sacrifice his fee to realise his vision. He needs the building to make a name for himself at a time when capitalism is producing unprecedented opportunities for architectural expression.

It is the period about which American architect Philip C. Johnson proclaims:, “the battle for modern architecture has been won”. Think of Frank Lloyd Wright’s Johnson Wax tower or Ludwig Mies Van der Rohe’s Lake Shore Drive Apartments, or Eero Saarinen’s General Motors Technical Center to reveal how the US became the main proponent of this ambitious expansive style.

A memorable scene in the cavernous marble quarries of Carrara in Italy is both magnificent and ominous. The sheer scale that renders humans the size of ants underscores the clash between nature and power, in the level of extraction required for materials, and the exploitation of people and planet to satisfy the egos of two competing masculinities.

In the past, “What does an architect do?” was a question I often was asked by clients who wanted me to justify my fee. This is a question I now ask my students to reveal their own perceptions and values.

Architecture is one of the three main fine arts of antiquity. However, beyond the artistry and the aesthetics, its role has been developing to meet the needs of its time. In a post-war world, architects were compelled to go beyond efficiency; they needed to create an identity and capture the public’s imagination, while creating buildings with market value.

Architects take many aspects into consideration. Tóth draws beautifully, has knowledge of materials and technology, reads the landscape and understands the environment. He also manages the budget and has to promote himself in a world that mocks his accent and others him as a foreigner – architecture has a long way to go when it comes to inclusivity.

US modernism is full of immigrant architects who either moved there very young like Estonian Louis Kahn and Finn Eero Saarinen, or by accepting teaching positions like Germans Walter Gropius and Mies Van der Rohe did after the closure of the Bauhaus.

So The Brutalist needs its three and half hours to tell the saga of an immigrant architect’s life and the long arduous years it takes to complete a cherished project. As an architect in a digital era, it made me nostalgic for paper, charcoal drawings and physical models. And wish that architects had a filmmaker’s power to complete the construction of a building like a speeded-up film montage.

Phevos Kallitsis 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. The Brutalist: an architect’s take on a film about one man’s journey to realise his visionary building – https://theconversation.com/the-brutalist-an-architects-take-on-a-film-about-one-mans-journey-to-realise-his-visionary-building-248127

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Video: How to Project Europe’s Power | World Economic Forum Annual Meeting 2025

Source: World Economic Forum (video statements)

Many of Europe’s challenges, from access to critical raw materials to protecting its productive industries and ending war on the continent, cannot be overcome without a more strategically integrated foreign economic policy.

How can Europe better deploy the power of its single market, the reach of its diplomatic network and the momentum of its green transition to engage more effectively with a world transformed?

Speakers: Arancha Gonzalez Laya, Ilham Kadri, Maros Sefcovic, Patrick Pouyanné, Nikol Pashinyan

The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

World Economic Forum Website ► http://www.weforum.org/
Facebook ► https://www.facebook.com/worldeconomicforum/
YouTube ► https://www.youtube.com/wef
Instagram ► https://www.instagram.com/worldeconomicforum/
X ► https://twitter.com/wef
LinkedIn ► https://www.linkedin.com/company/world-economic-forum
TikTok ► https://www.tiktok.com/@worldeconomicforum
Flipboard ► https://flipboard.com/@WEF

#Davos2025 #WorldEconomicForum #wef25

https://www.youtube.com/watch?v=NMy8Ffmsj8Y

MIL OSI Video –

January 25, 2025
MIL-OSI Russia: GUU among the most mentioned Russian universities in the media based on the results of 2024

Translation. Region: Russian Federation –

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

The State University of Management entered the top 30 media rating of Russian higher education institutions for 2024. The data on this was published by the information and analytical company Medialogiya.

The most cited material mentioning our university was the article “Director of the Institute of Economics and Finance of the State University of Management, Professor Galina Sorokina: two categories of citizens may be allowed to retire at age 50,” which was published in June of last year.

It should be noted that the main indicator of the rating is the Media Index of Medialogy, which allows for a qualitative analysis of the effectiveness of PR.

The index is calculated automatically using linguistic analysis technologies according to the methodology developed by the Medialogia company in collaboration with mathematicians and mass media and PR analysts.

The ratings are based on the media database of the Medialogy system, which currently includes more than 100 thousand mass media: TV, radio, newspapers, magazines, news agencies and online publications.

Let us add that GUU has previously been included in the media rating: in November and July 2024, as well as in November 2023. And now our university is among the most mentioned universities for the whole of 2024 in 29th place.

The full rating can be viewed on the Medialogy website.

Subscribe to the TG channel “Our GUU” Date of publication: 01/24/2025

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 –

January 25, 2025
MIL-OSI: Blasting Off into the Crypto Stratosphere: SPACEWAR! Token ($SPACE) Takes Center Stage

Source: GlobeNewswire (MIL-OSI)

BERLIN, Jan. 24, 2025 (GLOBE NEWSWIRE) — In the ever-expanding universe of cryptocurrency, a new star has emerged to capture the imagination of investors and enthusiasts alike: SPACEWAR! Token ($SPACE). As an ERC-20 token inspired by the very first video game Elon Musk ever played, this innovative project combines nostalgia, cutting-edge technology, and the promise of a stellar future.

The Birth of a Classic

Originally developed in 1962 by a group of students at the Massachusetts Institute of Technology (MIT), SPACEWAR! holds the distinction of being the first-ever digital computer game. This revolutionary space combat game became a timeless classic, leaving an indelible mark on the history of gaming. Today, its legacy is carried forward with the launch of SPACEWAR! Token ($SPACE), uniting past and present in a unique crypto initiative.

A Star-Studded Team

Behind the SPACEWAR! Token is a team of renowned cryptocurrency experts with a proven track record of successful blockchain projects. With meticulous planning and a visionary approach, they’ve developed a robust framework that positions $SPACE for long-term growth and development.

Community and Influencer Power

Key to $SPACE’s rapid rise is its passionate community and widespread influencer support. A diverse group of crypto enthusiasts, thought leaders, and influencers have rallied around SPACEWAR! Token, sparking widespread excitement and engagement within the cryptocurrency ecosystem.

A Stellar Launch

The launch of SPACEWAR! Token ($SPACE) was met with overwhelming enthusiasm, with investors rushing to participate in the project. This strong debut highlights the growing confidence in the token’s potential and the dedication of its team and supporters.

What’s Next for $SPACE?

As SPACEWAR! Token gains traction, its developers have ambitious plans for future growth. By leveraging its nostalgic appeal, cutting-edge technology, and a supportive community, the token is poised to carve out a unique and lasting presence in the cryptocurrency landscape.

Conclusion

SPACEWAR! Token ($SPACE) is more than just another cryptocurrency—it’s a tribute to gaming history, a celebration of blockchain innovation, and a symbol of community-driven success. With its accomplished team, strong community backing, and a launch that exceeded expectations, $SPACE is a token worth watching.

Get ready to blast off into the crypto stratosphere—SPACEWAR! Token ($SPACE) is here to make history!

Contact Us:

VedP
Project Lead
contact@spacewareth.io

Disclaimer: This content is provided by “SPACEWAR”. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/1d62800e-8af9-4140-80e1-392d1c599f69

https://www.globenewswire.com/NewsRoom/AttachmentNg/c080ea0a-cf16-445b-a971-50fbf5b5c7cb

The MIL Network –

January 25, 2025
MIL-OSI Africa: Africa’s Power Revolution: Mission 300 to Light up Continent’s Future
Source: Africa Press Organisation – English (2) – Report:

ABIDJAN, Ivory Coast, January 24, 2025/APO Group/ —
- Exceptional World Bank Group-African Development Bank (http://www.AfDB.org/en) Collaboration to Connect 300 million People to Electricity by 2030
- Dar es Salaam Energy Summit to Chart Pathways for Energy Transformation
In a continent where millions of homes are still shrouded in darkness each night, a groundbreaking initiative is sparking hope. Next week, African and global changemakers will converge in Dar es Salaam, Tanzania, for the inaugural Africa Heads of State Energy Summit, where they will commit to an ambitious project to connect 300 million Africans to electricity by 2030.

The initiative, dubbed ‘Mission 300’ (M300), represents an unprecedented collaboration between the African Development Bank and the World Bank Group, alongside other global partners. The project aims to bridge the continent’s vast power divide by leveraging cutting-edge technology and innovative financing.

Several heads of state and Government from Africa and the rest of the world, will join 1,500 other participants—with strong representation from the private sector—at the January 27-28 summit. Together, they will chart Africa’s course toward universal access to affordable, reliable, and sustainable energy by 2030.

This initiative comes at a critical time: nearly 600 million Africans, representing a staggering 83 percent of the world’s energy-deprived population, lack access to electricity.

“No economy can grow, industrialize, or be competitive in the dark,” declared African Development Bank Group President Dr. Akinwumi Adesina. “This partnership is a game changer for Africa’s development.” Mission 300, launched at the World Bank/IMF Spring Meetings 2024, also has the backing of the Group of Seven (G7) and the G20.

Next week’s summit is expected to yield two significant outcomes: the Dar es Salaam Energy Declaration, stating commitments and reform actions from African governments to reform the energy sector, and the first set of National Energy Compacts, which will serve as blueprints for country-specific transformations.

Under the first phase of Mission 300, twelve countries will present their energy compacts: Chad, Côte d’Ivoire, the Democratic Republic of the Congo, Liberia, Madagascar, Malawi, Mauritania, Niger, Nigeria, Senegal, Tanzania, and Zambia. These countries represent more than half of the global population lacking access to electricity and a quarter of those lacking clean cooking solutions. Other African countries are expected to develop their compacts in subsequent phases.

The two-day gathering will also highlight energy sector successes in selected countries, establish an alliance of sector stakeholders to accelerate energy infrastructure investments, and strengthen regional power planning, market trade, and policy frameworks. These efforts will support the implementation of the Continental Master Plan and the African Single Electricity Market.

World Bank Group President Ajay Banga outlined a three-pronged approach for success: “We need action from governments, financing from multilateral development banks, and investment from the private sector.”

Already, the Global Energy Alliance for People and Planet and The Rockefeller Foundation have committed $10 million to technical assistance for electricity projects across 11 African nations—from Nigeria’s bustling cities to Madagascar’s remote villages—while energizing initiatives within COMESA, Africa’s largest regional economic community.

Pioneering Role

As Africa’s premier development finance institution, the African Development Bank Group brings substantial experience to the M300 initiative. The Bank’s current portfolio and pipeline of energy projects are forecast to deliver access to 43 million connections. Under Mission 300 and the Bank’s new Ten-Year Strategy, this will increase to 50 million connections, complemented by the World Bank’s pledge of 250 million connections by 2030.

The Bank’s track record includes landmark projects such as Kenya’s Lake Turkana Wind Power Project, which added 310 megawatts to the country’s capacity. Another ambitious effort, the Desert to Power (D2P) initiative, aims to transform Africa’s vast, sun-drenched Sahel region into a solar energy powerhouse spanning 11 countries, connecting 250 million people.

Recent successes under the D2P initiative include a $302.9 million loan co-financing for a solar power plant and electricity interconnection project between Mauritania and Mali. This project is expected to benefit 100,000 households. Through its Sustainable Energy Fund for Africa (SEFA), the Bank has supported green mini-grid projects across the continent.

As Africa works toward universal access to affordable, reliable, and sustainable energy by 2030, Mission 300 offers more than infrastructure development. For millions of Africans who have never known reliable electricity, it represents the promise of transformation—not just of the energy landscape but of daily lives.

The continent’s leaders and changemakers gathering in Dar es Salaam next week will set the stage for Africa’s electrification revolution. The partnerships forged and commitments made there will shape the continent’s journey toward achieving universal energy access, transforming millions of lives, and driving sustainable development.

“The entire world will be watching us,” Adesina said in anticipation.

Join in the conversation via our X Space live (http://apo-opa.co/42KL4wX) today.

Learn more about Mission 300 and the Africa Energy Summit here (http://apo-opa.co/3CbevgL).

MIL OSI Africa –
January 25, 2025

MIL-OSI: AGF Investments Announces January 2025 Cash Distributions for AGF Enhanced U.S. Equity Income Fund, AGF Total Return Bond Fund and AGF Systematic Global Infrastructure ETF

Source: GlobeNewswire (MIL-OSI)

TORONTO, Jan. 24, 2025 (GLOBE NEWSWIRE) —

AGF Investments Inc. (AGF Investments) today announced the January 2025 cash distributions for AGF Enhanced U.S. Equity Income Fund*, AGF Total Return Bond Fund* and AGF Systematic Global Infrastructure ETF, which pay monthly distributions. Unitholders of record on January 31, 2025 will receive cash distributions payable on February 6, 2025.

Details regarding the final “per unit” distribution amounts are as follows:

ETF	Ticker	Exchange	Cash Distribution Per Unit ($)
AGF Enhanced U.S. Equity Income Fund*	AENU	Cboe Canada Inc.	$0.139916
AGF Total Return Bond Fund*	ATRB	Cboe Canada Inc.	$0.131000
AGF Systematic Global Infrastructure ETF	QIF	Cboe Canada Inc.	$0.141593

*AGF Enhanced U.S. Equity Income Fund and AGF Total Return Bond Fund are mutual funds with an ETF series option.

Further information about the AGF ETFs can be found at AGF.com.

This information is not intended to provide legal, accounting, tax, investment, financial, or other advice, and should not be relied upon for providing such advice. Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

AGF ETFs are ETFs offered by AGF Investments Inc. ETFs are listed and traded on organized Canadian exchanges and may only be bought and sold through licensed dealers.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With nearly $53 billion in total assets under management and fee-earning assets, AGF serves more than 815,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

About AGF Investments

AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). The term AGF Investments may refer to one or more of these subsidiaries or to all of them jointly. This term is used for convenience and does not precisely describe any of the separate companies, each of which manages its own affairs.

AGF Investments entities only provide investment advisory services or offers investment funds in the jurisdiction where such firm and/or product is registered or authorized to provide such services.

AGF Investments Inc. is a wholly-owned subsidiary of AGF Management Limited and conducts the management and advisory of mutual funds in Canada.

Media Contact

Amanda Marchment
Director, Corporate Communications
416-865-4160
amanda.marchment@agf.com

The MIL Network –

January 25, 2025

MIL-OSI: Purpose Investments Announces Expansion of Its Yield Shares Suite with the Filling of the Preliminary Prospectus for 8 New ETFs

Source: GlobeNewswire (MIL-OSI)

TORONTO, Jan. 24, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose Investments”) is pleased to announce that it has filed and received a preliminary prospectus with the Canadian securities regulators for the proposed launch of eight new yield-focused single-stock ETFs, expanding its acclaimed Yield Shares suite. These ETFs are designed to provide investors with monthly income while maintaining exposure to leading global companies.

The new Yield Shares ETFs include:

Yield Shares ETF	Ticker	Underlying Company
Costco (COST) Yield Shares Purpose ETF	YCOS	Costco
Palantir (PLTR) Yield Shares Purpose ETF	YPLT	Palantir
UnitedHealth (UNH) Yield Shares Purpose ETF	YUNH	UnitedHealth Group
JPMorgan (JPM) Yield Shares Purpose ETF	YJPM	JPMorgan
Coinbase (COIN) Yield Shares Purpose ETF	YCON	Coinbase
Netflix (NFLX) Yield Shares Purpose ETF	YNET	Netflix
Broadcom (AVGO) Yield Shares Purpose ETF	YAVG	Broadcom
Tech Innovators Yield Shares Purpose ETF	YMAG	Broadcom, Amazon, Tesla, Microsoft, Meta, Alphabet, Apple, and Nvidia

“Since launching in 2022, Purpose Yield Shares has become a leading choice for investors seeking monthly income while maintaining growth exposure to the world’s top companies. In response to strong client demand, we are excited to expand our lineup to include high-growth technology and innovation leaders while also diversifying into market pioneers within the consumer staples, financial, and healthcare sectors. These new ETFs enhance the breadth of the Yield Shares suite, offering investors a wider range of opportunities to generate monthly income from industry giants while participating in their long-term growth,” said Yuan Gao, Vice President of Product. “The Yield Shares lineup remains dedicated to providing investors with access to high-quality companies with strong fundamentals and long-term growth potential. These new ETFs enable investors to continue benefiting from exposure to market leaders driving innovation and economic progress while earning monthly income. Whether in technology, consumer staples, financial services, or healthcare, our Yield Shares suite delivers a compelling mix of income and capital appreciation potential, allowing investors to share in the success of industry leaders.”

Each ETF seeks to provide shareholders with (i) long-term capital appreciation through purchasing and holding common stock of the underlying companies, including by using leverage through cash borrowing to purchase common stock of the underlying companies and (ii) distributions by writing covered call options and/or cash covered put options on a portion of the fund’s portfolio.

The Tech Innovators Yield Shares Purpose ETF (Ticker: YMAG) intends to provide investors with exposure to a basket of leading global technology and innovation-driven companies while generating income by writing covered call options and/or cash-covered put options on a portion of the portfolio.

YMAG provides investors with a one-ticket solution to gain exposure to the Nasdaq trillion-dollar market cap club while generating monthly income. Known as “BATMMAAN,” this select group of industry leaders—Broadcom, Amazon, Tesla, Microsoft, Meta, Alphabet, Apple, and Nvidia—is driving technological innovation across artificial intelligence, cloud computing, digital services, and next-generation infrastructure, positioning themselves as key players in the future of technology and economic growth.

Building on the success of the Yield Shares lineup, these new ETFs will aim to offer investors monthly cash distributions alongside exposure to the long-term growth potential of industry-leading companies.

About Purpose Investments Inc.
Purpose Investments is an asset management company with more than $23 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

For further information, please contact:
Keera Hart
Keera.Hart@kaiserpartners.com
905-580-1257

A preliminary long-form prospectus relating to the ETFs (the “Preliminary Prospectus”) has been filed with the Canadian securities commissions or similar authorities. You cannot buy securities of the ETFs until the relevant securities commissions or similar authorities issue receipts for the final prospectus of the ETFs. Important information about the ETFs is contained in the Preliminary Prospectus. Copies of the Preliminary Prospectus may be obtained from Purpose, or at http://www.purposeinvest.com.

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Fund distribution levels and frequencies are not guaranteed and may vary at the manager’s sole discretion.

The MIL Network –

January 25, 2025

MIL-OSI: Abaxx Announces Closing of Final Tranche of C$2,756,000 Private Placement

Source: GlobeNewswire (MIL-OSI)

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Jan. 24, 2025 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (CBOE CA:ABXX) (“Abaxx” or the “Company”), a financial software and market infrastructure company, majority shareholder of Abaxx Singapore Pte. Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), and producer of the SmarterMarkets™ Podcast, is pleased to announce it has today closed its final tranche (the “Final Tranche”) of a non-brokered private placement financing (the “Financing”). The Final Tranche consisted of the issuance of 50,000 common shares (the “Shares”) of the Company at a price of C$13.00 per Share for aggregate gross proceeds of C$650,000. The Financing, which consisted of the Final Tranche and a tranche which closed on November 22, 2024, consisted of the issuance of 212,000 Shares at a price of C$13.00 per Share for aggregate gross proceeds of C$2,756,000.

The proceeds of the Financing are expected to be used for general corporate and working capital requirements, including to fund ongoing operations and/or working capital and minimum regulatory requirements for Abaxx Exchange and Abaxx Clearing. No finder’s fees or commissions were paid in connection with the Final Tranche.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities issuable under the Financing have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold to or for the account or benefit of persons in the “United States” or “U.S. persons” (as such terms are defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Abaxx Technologies
Abaxx is building Smarter Markets — markets empowered by better financial technology and market infrastructure to address our biggest challenges, including the energy transition. In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is a majority-owner of Abaxx Exchange and Abaxx Clearing, subsidiaries recognized by the Monetary Authority of Singapore as “recognized market operator” and “approved clearinghouse”, respectively.

Abaxx Exchange and Abaxx Clearing are a Singapore-based commodity futures exchange and clearinghouse, introducing centrally cleared, physically deliverable commodities futures and derivatives to provide better price discovery and risk management tools for the commodities critical to our transition to a lower-carbon economy.

For more information please visit abaxx.tech, abaxx.exchange and smartermarkets.media.

For more information about this press release, please contact:

Steve Fray, CFO
Tel: 647-490-1590

Media and investor inquiries:

Abaxx Technologies Inc.
Investor Relations Team
Tel: +1 647 490 1590
E-mail: ir@abaxx.tech

Cautionary Statement Regarding Forward-Looking Information

This press release includes certain “forward-looking statements” which do not consist of historical facts. Forward-looking statements include estimates and statements that describe Abaxx’s future plans, objectives, or goals, including words to the effect that Abaxx expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “seeking”, “should”, “intend”, “predict”, “potential”, “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “continue”, “plan” or the negative of these terms and similar expressions. Since forward-looking statements are based on current expectations and assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Abaxx, Abaxx does not provide any assurance that actual results will meet respective management expectations. Risks, uncertainties, assumptions, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information.

Forward-looking information related to Abaxx in this press release includes but is not limited to, Abaxx’s objectives, goals or future plans and intended use of proceeds from the Financing. Such factors impacting forward-looking information include, among others: risks relating to the global economic climate; dilution; Abaxx’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on Abaxx and the industry; the ability to list Abaxx’s securities on stock exchanges in a timely fashion or at all; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of Abaxx include but are not limited to: operations in foreign jurisdictions, protection of intellectual property rights, contractual risk, third-party risk; clearinghouse risk, malicious actor risks, third-party software license risk, system failure risk, risk of technological change; dependence of technical infrastructure; and changes in the price of commodities, capital market conditions, restriction on labor and international travel and supply chains. Abaxx has also assumed that no significant events occur outside of Abaxx’s normal course of business.

Abaxx cautions that the foregoing list of material factors is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors, the risk factors in the Company’s most recent management’s discussion and analysis and other uncertainties and potential events. Abaxx has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking statements and information contained in this press release represents the expectations of Abaxx as of the date of this press release and, accordingly, is subject to change after such date. Abaxx undertakes no obligation to update or revise any forward-looking statements and information, whether as a result of new information, future events or otherwise, except as required by law. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. CBOE Canada does not accept responsibility for the adequacy or accuracy of this press release.

The MIL Network –

January 25, 2025
MIL-OSI NGOs: Cameroon: In Campo, local residents express their annoyance with Camvert

Source: Greenpeace Statement –

Yaounde: 21rd January 2025 – The population of Campo in the south region of Cameroon have taken to the streets to express their dissatisfaction with the companies CAMVERT, SOPHONY and BOISCAM. Following the demonstrations at the weekend, one local resident was arrested and subsequently released, while others were arrested, questioned and given a statement of facts. The communities are demanding, among other things, that Camvert revise the specifications and that the logging companies (SOPHONY and BOISCAM), which own the logging sales in FMU 0925, pay royalties.

His Majesty, Abel Mvondo, chief of the village of Ndoumessamebenga, in the Campo district, said: ‘Enough is enough, we have been patient enough and so far nothing has changed. In December, we sent a petition to the Divisional Officer, but nothing has been done. It’s time for us to make ourselves heard and demand that all these companies respect our rights. We’re not going to let Camvert continue to sacrifice our forests and exploit our lands’.

For three years now, the communities have been calling for a participatory review of the specifications with Camvert, a request that has so far gone unheeded. Likewise, the company continues to violate the law and the rights of these communities by failing to pay land royalties. Article 17 of Decree no. 76-166 of 27 April 1976 setting out the terms and conditions for the management of the National Estate stipulates that ‘revenue from the allocation of plots of land in the National Estate, either as a concession or a lease, shall be distributed as follows: 40% to the State, 40% to the Commune where the land is located, and 20% to the village community concerned for a project of interest’.

Stella Tchoukep, Forest Campaigner at Greenpeace Africa, said: ‘A framework for dialogue is needed so that the various stakeholders have a safe and structured space to discuss and find solutions to their differences. However, this framework for dialogue can only be effective if the resolutions adopted are implemented. So far, Camvert has failed to honour its commitments and has violated the law in force in Cameroon, all of which has fuelled the anger of local residents and the indignation of environmental organisations’.

Camvert SA, which has been based in Campo in the South of Cameroon region since 2019, obtained a provisional concession of more than 40,000 hectares in March 2022, under unclear circumstances. A project that has contributed significantly to the violation of the rights of local and indigenous communities whose survival depends essentially on the forest. It is also a weapon of massive destruction of the biodiversity to which Cameroon is committed. In recent years, local people have also had to contend with incursions by roaming animals, a direct consequence of the destruction of their natural habitat.Read the latest Greenpeace report on Camvert here

Media contact:

Pressdesk Africa, [email protected]

MIL OSI NGO –

January 25, 2025
MIL-OSI USA: Undergraduate Researcher Studying Homemaker Influencers

Source: US State of Connecticut

Sometimes an Instagram photo of freshly made strawberry jam, jars lined up symmetrically on a patterned tea towel, isn’t just a picture of preserves, says Kathryn Andronowitz ’26 (CLAS).

Sometimes a photo like that, in a crisp kitchen with only a dirtied wooden spoon and sticky sweet mixing bowl in the background, represents something far more concerning that threatens the advancements women have made in the workplace and elsewhere outside the home, she says.

“There’s nothing wrong with being a housewife or homemaker,” Andronowitz says. “I’m not trying to demean these women who are posting about that. My problem is in how some housewife influencers present it and how it’s part of a bigger narrative that, I believe, is ultimately harmful to women because of how it naturalizes women in the home while brushing off feminism as no longer necessary.”

In her study, “The Business of Domesticity: A Study on Homemaker Influencers on Instagram,” Andronowitz is looking at the four themes she sees as connecting those 20-something-year-old women who’ve built a brand making videos of themselves effortlessly straining off the liquid whey in a batch of homemade ricotta cheese.

The first is consumer capitalist logic, or how they operate as branded identities and use their platform to promote products. Next is the fantasy idealization aspect of their accounts, or how they present their idealized lifestyle without showing the inevitable drawbacks, fails, and bad days that happen as part of life.

Kathryn Andronowitz ’26 (CLAS) (Contributed photo)

Third is their promotion of alternative wellness and health, that is making food, sometimes even ingredients, from scratch. And last is their assertion their values are under attack, or that society believes they shouldn’t be mothers, religious, or stay at home.

“They present their content in a way that makes sense to the average viewer. If you’re not thinking about it too deeply, it’s presented in a way that depicts the homemaker role as the most natural, fulfilling, even morally correct, path for women,” she says. “It’s only when you take a step back that you see how easy it is for people to get caught up and uncritically romanticize being a homemaker.”

Andronowitz, a double major in English and sociology, says she started to see posts from tradwives, a term for “traditional housewives” that was popularized around 2020, show up in her social media feed and questioned their promotion of traditional gender roles and denunciation of feminism.

Such influencers typically adhere to beliefs that were popular in the 1950s, namely that women stay home to raise children and keep house while men serve as breadwinners, Andronowitz explains. Oftentimes, tradwives go as far as saying they should be subservient to their husbands and are depicted in classic dress, with busts pushed up and waists cinched, while performing everyday tasks around the home.

“It’s certainly valid for women to feel undervalued or caught up in the hustle of a capitalist society,” Andronowitz concedes, “but inspiring women to say to themselves, ‘I’m going to choose to step back into a slow life and leave it to the man to make the money,’ flips the script to an individual solution and turns on collective feminist aims.”

Her project, being completed as part of a 2024-25 undergraduate research fellowship through the UConn Humanities Institute, looks at Instagram accounts with between 50,000 and 500,000 followers that predominantly feature white women generally without the male head of household anywhere near the camera.

On these accounts, viewers find beautifully shot videos of zinnia-filled flower gardens, bubbling sourdough bread starter, and homemade beeswax candles that entice them to continue scrolling, she notes.

“Their identities are complicated by the fact that they are content creators and entrepreneurs, so they display a lot of creativity and agency, which is an interesting contrast to how homemakers are typically perceived,” she says, adding she worries nonetheless about its aestheticized appeal.

“Young women can be influenced from an even earlier age, long before they make decisions like whether they want to go to college or whether they want to get married,” Andronowitz says. “These very traditional roles can put women in situations that are very repressive.”

MIL OSI USA News –

January 25, 2025
MIL-OSI: Stardust Power Inc. Announces Pricing of $5.75 Million Public Offering

Source: GlobeNewswire (MIL-OSI)

GREENWICH, Conn., Jan. 24, 2025 (GLOBE NEWSWIRE) — Stardust Power Inc. (NASDAQ: SDST) (“Stardust Power” or the “Company”), an American developer of battery-grade lithium products, today announced the pricing of its “reasonable best efforts” public offering for the purchase and sale of up to 4,792,000 shares of common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 4,792,000 shares of common stock at a combined offering price of $1.20 per share and accompanying warrant (the “Offering”). The Company expects to receive aggregate gross proceeds of approximately $5.75 million, before deducting placement agent fees and other offering expenses, and assuming no exercise of the warrants. The warrants will have an exercise price of $1.30 per share, will be exercisable immediately and will expire five years from the issuance date.

“We are proud that we have priced this round of financing with investment from a large institutional investor, representing their support for the Stardust Power story. This financing continues building on our progress towards the FID stage for our large central lithium refinery. The capital provides stability for the company to continue to execute against our business plan,” noted Stardust Power Founder and CEO, Roshan Pujari.

The closing of the Offering is expected to occur on or about January 27, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from this Offering for working capital and general corporate purposes, as well as to satisfy amounts due under certain existing promissory notes of the Company.

A.G.P./Alliance Global Partners is acting as the sole placement agent for the Offering.

The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-284298) previously filed with the Securities and Exchange Commission (“SEC”) on January 15, 2025, which was declared effective on January 23, 2025. This Offering is being made only by means of a prospectus forming part of the effective registration statement. A preliminary prospectus relating to the Offering has been filed with the SEC. An electronic copy of the final prospectus relating to the Offering may be obtained, when available, on the SEC’s website located at http://www.sec.gov and may also be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.

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

About Stardust Power Inc.

Stardust Power is a developer of battery-grade lithium products designed to bolster America’s energy leadership by building resilient supply chains. Stardust Power is developing a strategically central lithium refinery in Muskogee, Oklahoma with the anticipated capacity of producing up to 50,000 metric tons per annum of battery-grade lithium. The Company is committed to sustainability at each point in the process. Stardust Power trades on the Nasdaq under the ticker symbol “SDST.”

For more information, visit http://www.stardust-power.com

Stardust Power Contacts

For Investors:
Johanna Gonzalez
investor.relations@stardust-power.com

For Media:
Michael Thompson
media@stardust-power.com

Forward Looking Statements

Certain statements in this press release constitute “forward-looking statements.” Such forward-looking statements are often identified by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “forecasted,” “projected,” “potential,” “seem,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or otherwise indicate statements that are not of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, among other things, statements relating to the satisfaction of customary closing conditions related to the Offering, the timing of the anticipated closing of the Offering and the intended use of proceeds from the Offering. These forward-looking statements and factors that may cause actual results to differ materially from current expectations include, but are not limited to: the ability of Stardust Power to grow and manage growth profitably, maintain key relationships and retain its management and key employees; risks related to the uncertainty of the projected financial information with respect to Stardust Power; risks related to the price of Stardust Power’s securities, including volatility resulting from changes in the competitive and highly regulated industries in which Stardust Power plans to operate, variations in performance across competitors, changes in laws and regulations affecting Stardust Power’s business and changes in the combined capital structure; and risks related to the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities. The foregoing list of factors is not exhaustive.

Stockholders and prospective investors should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Stardust Power from time to time with the SEC.

Stockholders and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which only speak as of the date made, are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of Stardust Power. Stardust Power expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations of Stardust Power with respect thereto or any change in events, conditions or circumstances on which any statement is based.

The MIL Network –

January 25, 2025
MIL-OSI: Silicon Motion Confirms Quarterly Dividend

Source: GlobeNewswire (MIL-OSI)

TAIPEI, Taiwan and MILPITAS, Calif., Jan. 24, 2025 (GLOBE NEWSWIRE) — Silicon Motion Technology Corporation (NasdaqGS: SIMO)(“Silicon Motion” or the “Company”), a global leader in designing and marketing NAND flash controllers for solid state storage devices, confirms today its quarterly cash dividend.

On October 28, 2024, the Board of Directors of the Company declared payment of an annual dividend of US$2.00 per ADS¹, equivalent to US$0.50 per ordinary share, which will be paid in four quarterly installments of $0.50 per ADS, equivalent to US$0.125 per ordinary share. According to the previously announced record and payment dates, the next quarterly installment will be paid on February 27, 2025 to all shareholders of record on February 13, 2025. Our depository bank’s DR Books will be closed for issuance and cancellation on February 13, 2025.

The declaration and payment of future cash dividends are subject to the Board’s continuing determination that the payment of dividends is in the best interests of the Company’s shareholders and are in compliance with all laws and agreements of the Company applicable to the declaration and payment of cash dividends.

ABOUT SILICON MOTION:

We are the global leader in supplying NAND flash controllers for solid state storage devices. We supply more SSD controllers than any other company in the world for servers, PCs and other client devices and are the leading merchant supplier of eMMC and UFS embedded storage controllers used in smartphones, IoT devices and other applications. We also supply customized high-performance hyperscale data center and specialized industrial and automotive SSD solutions. Our customers include most of the NAND flash vendors, storage device module makers and leading OEMs. For further information on Silicon Motion, visit us at http://www.siliconmotion.com.

FORWARD-LOOKING STATEMENTS:

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” or the negative of these terms or other comparable terminology. Although such statements are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on them. These statements involve risks and uncertainties, and actual market trends or our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons. Potential risks and uncertainties include, but are not limited to the unpredictable volume and timing of customer orders, which are not fixed by contract but vary on a purchase order basis; the loss of one or more key customers or the significant reduction, postponement, rescheduling or cancellation of orders from one or more customers; general economic conditions or conditions in the semiconductor or consumer electronics markets; the impact of inflation on our business and customer’s businesses and any effect this has on economic activity in the markets in which we operate; the functionalities and performance of our information technology (“IT”) systems, which are subject to cybersecurity threats and which support our critical operational activities, and any breaches of our IT systems or those of our customers, suppliers, partners and providers of third-party licensed technology; the effects on our business and our customer’s business taking into account the ongoing U.S.-China tariffs and trade disputes; the uncertainties associated with any future global or regional pandemic; the continuing tensions between Taiwan and China including enhanced military activities; decreases in the overall average selling prices of our products; changes in the relative sales mix of our products; changes in our cost of finished goods; supply chain disruptions that have affected us and our industry as well as other industries on a global basis; the payment, or non-payment, of cash dividends in the future at the discretion of our board of directors and any announced planned increases in such dividends; changes in our cost of finished goods; the availability, pricing, and timeliness of delivery of other components and raw materials used in the products we sell given the current raw material supply shortages being experienced in our industry; our customers’ sales outlook, purchasing patterns, and inventory adjustments based on consumer demands and general economic conditions; any potential impairment charges that may be incurred related to businesses previously acquired or divested in the future; our ability to successfully develop, introduce, and sell new or enhanced products in a timely manner; and the timing of new product announcements or introductions by us or by our competitors. For additional discussion of these risks and uncertainties and other factors, please see the documents we file from time to time with the U.S. Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on April 30, 2024. Other than as required under the securities laws, we do not intend, and do not undertake any obligation to, update or revise any forward-looking statements, which apply only as of the date of this press release.

¹ One ADS is equivalent to four ordinary shares.

The MIL Network –

January 25, 2025
MIL-OSI Video: Take a MINUTE | U.S. Army

Source: US Army (video statements)

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

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

Connect with the U.S. Army online:
Web: https://www.army.mil
Facebook: https://www.facebook.com/USarmy/
X: https://www.twitter.com/USArmy
Instagram: https://www.instagram.com/usarmy/
LinkedIn: https://www.linkedin.com/company/us-army
#USArmy #Soldiers #Military #Spirituality #Mindfullness

https://www.youtube.com/watch?v=YE3mBXsX1Sk

MIL OSI Video –

January 25, 2025
MIL-OSI Video: All Hands on Deck for the Energy Transition | World Economic Forum Annual Meeting 2025

Source: World Economic Forum (video statements)

With the global targets of tripling renewable energy and doubling energy efficiency by 2030 fast approaching, it is critical to accelerate the implementation, build political momentum and monitor progress.

How can countries and industries close this gap and what tools are at their disposal?

Speakers: Ursula von der Leyen, Fatih Birol, Morten Wierod, Dina Ercilia Boluarte, Mirek Dušek, Gurdeep Singh, Lars Rebien Sorensen

The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

World Economic Forum Website ► http://www.weforum.org/
Facebook ► https://www.facebook.com/worldeconomicforum/
YouTube ► https://www.youtube.com/wef
Instagram ► https://www.instagram.com/worldeconomicforum/
X ► https://twitter.com/wef
LinkedIn ► https://www.linkedin.com/company/world-economic-forum
TikTok ► https://www.tiktok.com/@worldeconomicforum
Flipboard ► https://flipboard.com/@WEF

#Davos2025 #WorldEconomicForum #wef25

https://www.youtube.com/watch?v=c2YrBr-YlRg

MIL OSI Video –

January 25, 2025
MIL-OSI Europe: President Keller-Sutter to attend ceremony marking 80th anniversary of Auschwitz liberation

Source: Switzerland – Department of Finance

On 27 January, around 40 heads of state and government and heads of international organisations will join Holocaust survivors at a ceremony to commemorate the 80th anniversary of the liberation of the Auschwitz-Birkenau concentration and extermination camp. The President of the Swiss Confederation, Karin Keller-Sutter, will represent Switzerland at the event. She will be accompanied by two Swiss survivors.

MIL OSI Europe News –

January 25, 2025
MIL-OSI Global: Wood burning stoves are a serious problem for your health – and the environment

Source: The Conversation – UK – By Asit Kumar Mishra, Research Fellow in School of Public of Health, University College Cork

Monkey Business Images/Shutterstock

There is something cosy and appealing about settling down next to a roaring fire in winter but, every year, nearly 61,000 premature deaths in Europe are caused by air pollution as a result of people burning wood or coal to heat their homes.

Wood-burning stoves are often considered safer, cleaner and more attractive than open fires. This may, in part, explain why from 2021 to 2022, sales of wood-burning stoves increased by 40% in the UK.

However, burning wood is not necessarily a healthier or greener alternative to coal or gas for home heating.

Wood burning produces a complex chemical mixture of fine particulate matter (PM2.5) and gases, which can be breathed deep into the lungs. The specific contents vary based on the type of stove and the type of fuel, but chemicals can include carbon monoxide, oxides of nitrogen and a range of volatile organic compounds, such as cancer-causing formaldehyde and benzene.

Exposure to wood smoke affects the heart, blood vessels and the respiratory system – and PM2.5 is considered to be the biggest threat. Wood smoke increases the risk of heart attacks and strokes and can exacerbate chronic obstructive pulmonary disease (COPD) and asthma. Exposure to PM2.5 from wood burning can also cause premature death.

Exposure to this pollution also leads to loss of work days, reduced productivity, higher expenses on healthcare and increased hospital admissions.

The risks are higher for people over 65, children, pregnant women and people with existing heart or lung conditions. Chronic wood smoke inhalation has been associated with systemic inflammation, which can make the lungs more vulnerable to infections, such as flu and COVID.

In the UK and Ireland, solid fuel heating is the main source of outdoor PM2.5 during wintertime. While wood is the dominant solid fuel in the UK, peat burning is regularly found to make the largest contribution to PM2.5 in Ireland.

Under cold, stagnant weather conditions, air pollution, even in small rural towns, can be as high as that found in very polluted parts of north India.

Exposure to outdoor air pollution caused by wood burning is an obvious health risk. But the pollution also finds its way into homes, worsening indoor air quality. Also, when lighting or refuelling a wood stove, large quantities of PM2.5 escape into the indoor air. Depending on how effective the home ventilation is, the PM2.5 levels can take hours to reduce.

Looks aren’t everything

In surveys carried out in Ireland and the UK, it was found that most people using solid fuel stoves did it for the aesthetics and the “homely feel”. The desire to save money or necessity came next.

Most people who use indoor wood burning in London are in wealthier neighbourhoods, while those most affected by the consequent air pollution are in poorer areas.

Educational campaigns regarding the effect of wood-burning stoves on health and the environment can be an important tool to reduce their usage. New initiatives, such as the Clean Air Night held in the UK and Ireland, are valuable in raising awareness and possibly changing long-term heating habits.

Encouraging users to move to more efficient and renewable heating technologies like heat pumps can reduce emissions and harm to health. This move even works out to be cheaper, except for people who source their own wood.

Communities can also be provided with information on their local air quality, allowing them to visualise real-time effects of their actions. For example, the PM2.5 sensor network map for Cork is freely accessible to the community and identifies locations and times when PM2.5 pollution is unhealthy.

If you have a wood burner, you could check that the pollution levels aren’t too high before you fire it up.

How to reduce emissions

People who rely on solid fuel stoves as their only source of home heating can adopt the following measures to reduce emissions. Use low-emission labelled stoves that reduce pollution. When burning, have small hot fires, with enough air supply and do not let the fire smoulder.

Choose carefully what is burnt, in compliance with relevant regulations. Do not burn garbage, plastics, cardboard, treated or painted wood in your stoves. These items increase exposure to toxic pollutants.

Ensure that stoves are installed and maintained annually by professionals. And, when lighting up or refuelling, make sure that the room the stove is in is well ventilated. This means open windows, no blocked vents, and exhaust fans or kitchen hoods can be used for additional ventilation.

People who use solid fuel stoves as a secondary source of heating could consider using the stove less or even stopping using it altogether. That really would be a breath of fresh air.

Asit Kumar Mishra is a DOROTHY co-fund Fellow and Marie Skłodowska-Curie Fellow and receives funding from the European Union’s Horizon 2020 research and innovation programme under the Marie Skłodowska-Curie grant agreement No 101034345.

John Wenger has previously received funding from several governmental organisations in Ireland for research into solid fuel burning, including the EPA and Irish Research Council.

– ref. Wood burning stoves are a serious problem for your health – and the environment – https://theconversation.com/wood-burning-stoves-are-a-serious-problem-for-your-health-and-the-environment-245737

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: Why peat is a key ingredient in whisky and the climate crisis

Source: The Conversation – UK – By Toby Ann Halamka, Postdoctoral Researcher in Organic Geochemistry, School of Earth Sciences, University of Bristol

Kondor83/Shutterstock

Burnt. Smoky. Medicinal. Each of these represents a subcategory of “peaty” whisky in the Scotch Whisky Research Institute’s brightly coloured flavour wheel.

A more chemistry-focused flavour wheel might include names like lignin phenols, aromatic hydrocarbons or nitrogen-containing heterocycles. Perhaps less appealing, but these chemicals define the flavours of Scotch whisky and represent just a few of the many types of organic carbon that are stored in peatlands.

However, when peat is burned for the production of whisky, ancient carbon is released into the atmosphere. Approximately 80% of Scotch whisky is made using peat as a fuel source for drying barley during the malting process. The aromas of the burning peat, or “reek” as it is known in the industry, are steeped into the grains providing the intense smoky flavours associated with many Scotch whiskies.

Historically, peat was a critical fuel resource for Scotland – a nation famously rich in peatlands with few trees for wood-burning. But as the industry has modernised, peat burning in whisky manufacturing has become less a story of adapting to resource limitations and more one of tradition and distinctive flavouring.

There is little debate about the importance of peat burning in generating some of the most highly sought-after flavours in the world of whisky. Some enthusiasts identifying as “peat heads” track the parts per million (ppm) of peaty compounds in their favourite brands. The ppm measure represents phenol concentrations (a group of aromatic organic compounds) in the malted barley. But this does not represent how peaty your whisky will taste as much will get lost in subsequent processes. Nor does the ppm represent how much peat was burned in production.

Most of the peat that is extracted in Scotland is used in horticulture as compost to grow things like mushrooms, lettuce and houseplants. However, both the Scottish and UK governments are making efforts to reduce peat extraction for gardening needs.

The Scotch whisky industry makes up about 1% of total peat use in Scotland. But, as horticulture practices change, this may represent a larger portion of peat use in the future.

In 2023, the Scotch whisky industry outlined a long-term sustainability plan that expresses goodwill but lacks clearly defined goals towards peatland restoration.

Such policies that ban or limit the use of peat in certain industries have followed an increased awareness of how important peatlands are to locking carbon away instead of releasing it into our atmosphere. Despite making up only about 3% of Earth’s land surfaces, peatlands store more carbon than all the world’s forests.

So, should you worry about the climate consequences of peat use in Scotch whisky?

No matter how you slice it, harvesting peat is not good for the environment – and getting your hands on a nice dry slab of peat to extract those smoky flavours is no easy task. Peat is formed by waterlogged, oxygen-poor conditions that slow the natural breakdown process of plant material.

While it is critical for healthy peatlands, excess water is not ideal for burning or transporting peat. Hence, peat extraction usually involves the extensive draining of peatlands. This halts the natural peat accumulation process and releases greenhouse gases from the now-degraded peats into the atmosphere.

More than 80% of Scotland’s peatlands are degraded.

Some recovery efforts are being made, and it has been suggested that the whisky industry can offset their peat degradation by investing in peat restoration. But, peatland restoration is a long-term and imprecise solution that might take decades to properly assess, while existing peatlands are needed as a natural carbon sink now.

Flavour innovations

There are reasons for “peat heads” (both whisky fans and climate warriors) to feel optimistic about the future of this industry.

For decades, the barley malting industry has focused on extracting the most flavour out of the least peat. Innovations in enhanced peat burning efficiency and investigations into peat flavouring alternatives are just some of the ways that the whisky industry is decreasing its peat footprint.

Change in this sector takes time. Any innovations in whisky made today must age for at least three years before being ready for the “flavour wheel”. This delay underscores the urgency of developing new methods as it will take time to find the perfect eco-friendly recipe that compromises neither the taste nor tradition of Scotch whisky.

In the meantime, whisky drinkers can seek out distilleries that are taking active steps to decrease their environmental impact and try drinking peat-free or peat-efficient whiskies.

To continue celebrating the uniqueness of peat as a flavour in whisky, we need to better acknowledge the effect it has on peatland degradation and continue to advocate for positive changes in the industry.

The story of peat use in Scotch whisky will continue to evolve. But while experimenting with future flavours, Scotland must preserve one of this nation’s most precious environmental resources.

Don’t have time to read about climate change as much as you’d like?

Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.

Toby Ann Halamka receives funding from the CERES (Climate, Energy and Carbon in Ancient Earth Systems) UKRI grant at the University of Bristol.

Mike Vreeken 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. Why peat is a key ingredient in whisky and the climate crisis – https://theconversation.com/why-peat-is-a-key-ingredient-in-whisky-and-the-climate-crisis-245497

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Global: The Trumps want you to buy their meme coins, but history should make us cautious about the hype

Source: The Conversation – UK – By Emmanuel Mogaji, Associate Professor in Marketing, Keele University

Just before assuming office as the 47th president of the United States, Donald Trump introduced his meme coin – $Trump. The digital token attracted lots of attention, and a couple of days after its launch the combined value of the coins was nearly US$8.5 billion (£6.9 billion).

Trump venturing into meme coins is perhaps not surprising, given his history of branding everything from sneakers to bibles. The first lady followed suit with a meme coin of her own ($Melania, which briefly outperformed her husband’s coin).

History shows us that speculative hypes like this are not new. Hype can distort rational decision-making, with investors often neglecting due diligence and failing to ask the usual important questions of their investment.

In 17th-century Netherlands, tulip bulbs became status symbols. Rare varieties could fetch six times a typical salary – until the bubble burst, leaving many financially devastated. Similarly, the South Sea Bubble of the 18th century saw the South Sea Company’s stock price skyrocket based on speculative frenzy (and a high-profile figurehead in King George I) before crashing back down. And the dotcom bubble of the early 2000s saw unproven tech startups achieve sky-high valuations on sheer optimism until the inevitable crash.

The rise of meme coins, including the Trump ventures, bears similarities to the frenzy surrounding these past phenomena. They are driven by hype, the perception of scarcity and the promise of high returns. These factors can inflate the value irrationally and lead to significant financial risks for those who invest.

Meme coins thrive on the power of hype. Prominent figures like Trump and viral sensations such as internet star Haliey Welch’s failed cryptocurrency have the power to generate enormous buzz. Like the tulip mania of the 1600s, these digital tokens don’t hold any intrinsic value but instead rely on public sentiment to drive prices up. The hype can quickly make them seem indispensable and highly valuable, even though they have no physical existence.

The ease of access to meme coins also boosts their popularity. People can buy them online using simple apps or websites – much like shopping for any other product – without the need for a broker or intermediary. This autonomy appeals to modern investors, allowing them to manage their assets from the comfort of their homes. However, the simplicity and convenience often mask the high risks involved.

Social media amplifies the excitement surrounding meme coins, creating a community vibe that fuels their popularity. The constant buzz on platforms and among influencers generates Fomo (fear of missing out), pressuring people to join the bandwagon in pursuit of the potential gains. But this rush can lead to ill-informed decisions.

Meme coins are seen as opportunities for quick and substantial profits – an anonymous buyer (the so-called Lucky Crypto Trader) reportedly made US$100 million within hours on Trump’s coin. But these successes are rare and unpredictable. For most consumers, investing in meme coins is like gambling, with no guarantees of returns and a high likelihood of losses.

Is it ethical?

As a researcher in financial services marketing and fintech, I focus on the ethical and financial implications of meme coins.

Cryptocurrencies remain largely unregulated, leaving investors without protection. So the influence of prominent figures like the Trumps hyping these assets raises questions of accountability and fairness. This lack of oversight puts inexperienced consumers at significant financial risk, which only serves to underline the need for caution.

The parallels with past speculative bubbles offer valuable lessons. From tulip mania to the dotcom bust, history shows us the dangers of unchecked hype and speculative investments. Consumers should learn from these events to avoid repeating the same mistakes in the cryptocurrency era. There are some basic principles would-be buyers should bear in mind.

To navigate the risks associated with meme coins and cryptocurrencies, consumers should find out more about the technology and become more aware of the trends and performance of the coins. Managing expectations is crucial; speculative investments are unpredictable and the hype can die away quickly. Diversifying investments rather than concentrating all funds in one asset or market can spread risk and provide greater financial stability.

Education is equally important – taking the time to read the fine print on investment opportunities, such as Trump’s coin disclaimer that it is not an investment vehicle, is essential to understanding the true nature of these assets.

Trump’s venture into meme coins is the latest in a long history of speculative financial trends, and he will probably not be the last to capitalise on this craze.

But until regulatory frameworks catch up, consumers should tread carefully, ensuring that their pursuit of profits does not come at the expense of their financial security.

Emmanuel Mogaji 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. The Trumps want you to buy their meme coins, but history should make us cautious about the hype – https://theconversation.com/the-trumps-want-you-to-buy-their-meme-coins-but-history-should-make-us-cautious-about-the-hype-248057

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI: Westboro Mortgage Investment Fund Announces Bonus Distribution to Unitholders

Source: GlobeNewswire (MIL-OSI)

OTTAWA, Ontario, Jan. 24, 2025 (GLOBE NEWSWIRE) — Westboro Mortgage Investment Fund is pleased to announce that it has paid a bonus distribution of 58 bps to all unit classes. This bonus distribution equals the excess income earned by the fund for the fiscal year ended December 31, 2024 and was pro-rated for the number of months an investor had holdings in 2024. The total distribution per unit for the 2024 fiscal year, inclusive of this bonus distribution, was 9.88%. This equates to a total annualized compounded return of 10.34% for the calendar year 2024.

“We had yet another very successful year in 2024. We ended the year with all-time high totals of mortgage assets and investor capital. We were able to achieve this impressive ROI while simultaneously experiencing minimal mortgage losses. A special thank you to our valued investors, Westboro Broker Nation especially those who qualified for our Private Members Club and to our amazing staff, who are truly best in class,” said Derek Serra, President of Westboro Mortgage Investment Fund.

About Westboro Mortgage Investment Fund

The Fund manages a diversified portfolio of residential mortgages, with over 90% in 1^st position, located in Ontario. The primary objective of the fund is to provide investors with a consistent and stable risk adjusted return for their investment portfolio. https://westboromic.com/fund-performance/

FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of applicable securities laws including, among others, our objectives, our strategies to achieve those objectives, our performance, our mortgage portfolio, and our distributions, as well as statements with respect to management’s beliefs, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance, or expectations that are not historical facts. Forward-looking statements generally can be identified by using forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intent”, “estimate”, “anticipate”, “believe”, “should”, “plans” or “continue” or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management.

These statements are not guarantees of future performance and are based on our estimates and assumptions that are subject to risks and uncertainties, including those described in our Offering Memorandum under “Risk Factors” (a copy of which can be obtained at https://westboromic.com/fund-performance/).

Those risks and uncertainties include, among others, risks associated with public health crisis; liquidity; dependence on the Fund manager and the mortgage broker; potential conflicts of interest; no guaranteed return; credit risk; interest rate risk; environmental matters associated with our business; availability of investments; borrowing; limited sources of borrowing; risks related to the renewal of mortgages comprising our investment portfolio; risks related to the composition of our investment portfolio; reliance on borrowers; litigation risks; ability to manage growth; change in legislation; cyber risk; and qualification as a mortgage investment fund. Readers are cautioned that the foregoing list is not exhaustive. Although the forward-looking information contained in this news release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results and performance will be consistent with these forward-looking statements.

All forward-looking statements in this news release are qualified by these cautionary statements. Except as required by applicable law, the Corporation undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Scott Roberts
Vice-President Sales – Funds
Westboro Mortgage Investment Corp.
267 Richmond Road, 2nd Floor | Ottawa, ON K1Z 6X3
Email sroberts@westboromic.com

The MIL Network –

January 25, 2025

MIL-OSI: Apollo Commercial Real Estate Finance, Inc. Announces 2024 Dividend Income Tax Treatment

Source: GlobeNewswire (MIL-OSI)

NEW YORK, Jan. 24, 2025 (GLOBE NEWSWIRE) — Apollo Commercial Real Estate Finance, Inc. (the “Company” or “ARI”) (NYSE:ARI) today announced the estimated federal income tax treatment of the Company’s 2024 distributions on its common stock (CUSIP #03762U105) and its 7.25% Series B-1 Cumulative Redeemable Perpetual Preferred Stock.

The federal income tax classification of the 2024 distributions on the Company’s common stock as it is expected to be reported on Form 1099-DIV is set forth in the following table ($ per share):

Record Date	Payable Date	Total Distribution Per Share	Ordinary Dividend	Qualified Dividend	Non-dividend Distribution	Section 199A Dividend⁽¹⁾
12/29/2023	01/12/2024	$0.35000	$0.151978	$0.009218	$0.198022	$0.142760
03/28/2024	04/15/2024	$0.35000	$0.151978	$0.009218	$0.198022	$0.142760
06/28/2024	07/15/2024	$0.35000	$0.151978	$0.009218	$0.198022	$0.142760
09/30/2024	10/15/2024	$0.25000	$0.108555	$0.006584	$0.141445	$0.101971

⁽¹⁾ May be eligible for a 20% deduction under Section 199A of the Internal Revenue Code of 1986, as amended (the “IRC”). Stockholders are encouraged to consult with their own tax advisors as to their specific tax treatment of the Company’s distributions.

The federal income tax classification of the 2024 distributions on the Company’s 7.25% Series B-1 Cumulative Redeemable Perpetual Preferred Stock as it is expected to be reported on Form 1099-DIV is set forth in the following table ($ per share):

Record Date	Payable Date	Total Distribution Per Share	Ordinary Dividend	Qualified Dividend	Non-dividend Distribution	Section 199A Dividend
03/28/2024	04/15/2024	$0.453125	$0.453125	$0.027483	–	$0.425642
06/28/2024	07/15/2024	$0.453125	$0.453125	$0.027483	–	$0.425642
09/30/2024	10/15/2024	$0.453125	$0.453125	$0.027483	–	$0.425642

Pursuant to Section 857(b)(9) of the IRC, cash distributions made on January 15, 2025, with a record date of December 31, 2024, are treated as received by stockholders on December 31, 2024 to the extent of 2024 earnings and profits. As the Company’s aggregate 2024 cash distributions exceeded its 2024 earnings and profits, the January 2025 cash distributions declared in December 2024 are treated as 2025 distributions for federal income tax purposes and are not included on the 2024 Form 1099-DIV.

Stockholders are encouraged to consult with their own tax advisors as to their specific tax treatment of the Company’s distributions.

About Apollo Commercial Real Estate Finance, Inc.
Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) is a real estate investment trust that primarily originates, acquires, invests in and manages performing commercial first mortgage loans, subordinate financings and other commercial real estate-related debt investments. The Company is externally managed and advised by ACREFI Management, LLC, a Delaware limited liability company and an indirect subsidiary of Apollo Global Management, Inc., a high-growth, global alternative asset manager with approximately $733 billion of assets under management as of September 30, 2024.

Additional information can be found on the Company’s website at http://www.apollocref.com. Please note that our URL address has changed.

Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company’s control. These forward-looking statements include information about possible or assumed future results of the Company’s business, financial condition, liquidity, results of operations, plans and objectives. When used in this release, the words believe, expect, anticipate, estimate, plan, continue, intend, should, may or similar expressions, are intended to identify forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking: high interest rates and inflation; market trends in the Company’s industry, real estate values, the debt securities markets or the general economy; the timing and amounts of expected future fundings of unfunded commitments; the return on equity; the yield on investments; the ability to borrow to finance assets; the Company’s ability to deploy the proceeds of its capital raises or acquire its target assets; and risks associated with investing in real estate assets, including changes in business conditions and the general economy. For a further list and description of such risks and uncertainties, see the reports filed by the Company with the Securities and Exchange Commission. The forward-looking statements, and other risks, uncertainties and factors are based on the Company’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to the Company. Forward-looking statements are not predictions of future events. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

CONTACT:		Hilary Ginsberg Investor Relations (212) 822-0767

The MIL Network –

January 25, 2025

MIL-OSI Video: Reskilling for the Intelligent Age | World Economic Forum Annual Meeting 2025

Source: World Economic Forum (video statements)

With businesses now investing over $240 billion annually in AI and digital infrastructure, the lack of skills remains the top barrier to unlocking the full potential of digital transformation.

What collaborative effort is needed to bridge the skills gaps and unlock the benefits for competitiveness, growth and productivity?

Speakers: Omar Abbosh, Vimal Kapur, Adam Grant, Joe Ucuzoglu, Claudia Azevedo, Jayant Chaudhary

The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

World Economic Forum Website ► http://www.weforum.org/
Facebook ► https://www.facebook.com/worldeconomicforum/
YouTube ► https://www.youtube.com/wef
Instagram ► https://www.instagram.com/worldeconomicforum/
X ► https://twitter.com/wef
LinkedIn ► https://www.linkedin.com/company/world-economic-forum
TikTok ► https://www.tiktok.com/@worldeconomicforum
Flipboard ► https://flipboard.com/@WEF

#Davos2025 #WorldEconomicForum #wef25

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

MIL OSI Video –

January 25, 2025

Category: Business

Looks aren’t everything

How to reduce emissions

Flavour innovations

Is it ethical?