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  • MIL-OSI United Kingdom: Goonhilly to boost deep space communications capacity 

    Source: United Kingdom – Executive Government & Departments

    Goonhilly will provide deep space communications services to the UK Space Agency and international partners from Cornwall, under a new contract.

    Goonhilly Earth Station

    Goonhilly Earth Station Ltd (Goonhilly) will provide deep space communications services to the UK Space Agency and international partners from its satellite Earth station in Cornwall, under a new contract announced today (16 October) during the International Astronautical Congress in Milan.  

    Space agencies and companies use a global network of large antennas to communicate with, and transfer data between, their spacecraft and controllers on Earth. As the numbers of space missions beyond Earth orbit – to destinations including the Moon – increase, the capacity of these existing services is reaching their limit.  

    Several of the world’s space agencies already share resources to cope with high demand, but this issue is predicted to deteriorate with the increase in robotic and human activity around the Moon. 

    The UK is in a unique position to provide increased capacity through facilities like Goonhilly, which is the world’s most experienced provider of commercial lunar and deep space communications services. Since 2021, Goonhilly has supported over 17 spacecraft beyond geostationary orbit, including CubeSats deployed on the Artemis-I mission. Goonhilly has also provided services for international organisations, including ESA, ISRO, and Intuitive Machines. 

    Minister for Data Protection and Telecoms, Sir Chris Bryant, said:  

    Just as digital infrastructure helps us stay connected here on Earth, this government-backed contract will play a vital role in supporting humanity’s next steps to the Moon and beyond.  

    The UK has a real competitive advantage in space and I want to exploit that to its full potential, using innovative commercial models such as those demonstrated by Goonhilly and the UK Space Agency to attract more investment, generate high-quality jobs and support our international partners.

    This new agreement between the UK Space Agency and Goonhilly will help expand existing UK capabilities, unlock new and emerging markets and support the growth of the fledgling lunar economy. It will support Goonhilly to provide more services to international agencies and companies to help them cope with the increasing global demand for deep space communications. The contract is task-based and worth up to an initial £2 million this financial year.  

    Dr Paul Bate, Chief Executive of the UK Space Agency, said: 

    Our work with Goonhilly is a great example of how the UK can benefit from the commercial opportunities associated with developing the nascent lunar and deep space economy. This contract award signals a step change in how we use different tools as a government agency to support the growing space sector and strengthen international partnerships.  

    Earth ground stations will play an increasingly important role in every part of the sector, from supporting major UK-led missions such as TRUTHS and Moonlight to enabling the next generation of broadband connectivity in low Earth orbit. Developing this critical capability will help meet both our national and international ambitions in space.

    Goonhilly Earth Station.

    With the rapid rise in lunar missions, including upcoming examples like Intuitive Machines’ IM-2, Astrobotic’s Griffin Mission One, and NASA’s Artemis-II, the UK Space Agency recognises the potential for Goonhilly’s advanced capabilities to ensure that deep space networks are able to support increasing demand for communications services.  

    The UK Space Agency and Goonhilly will work with new international partners to showcase the quality of Goonhilly’s state-of-the-art assets, robust processes, and expert team, initially demonstrating  downlink telemetry and navigation services, with a long-term goal of providing uplink services to control spacecraft in flight – services Goonhilly has already successfully provided for a number of high profile missions. 

    Executive Director of UKspace, Colin Baldwin, said:

    Goonhilly Earth Station has pioneered commercial deep space communications capabilities in the UK. This agreement will put the UK at the heart of international missions to the Moon and Mars, and will continue to give us a seat at the top table of space faring nations.

    As a founding member of the European Space Agency with strong international ties beyond Europe, the UK wants to play a leading role in addressing this issue facing the global space sector, while supporting the development of new commercial models and national capabilites, and attracting more investment into the growing sector.  

    Matthew Cosby, CTO, Goonhilly Earth Station:  

    Goonhilly is at the forefront of commercial lunar and deep space communication services, providing vital infrastructure and expertise that supports international missions to the Moon and beyond.

    As the demand for deep space communications continues to grow, this new contract enables us to expand our capacity, support more missions, and play a key role in the next chapter of space exploration. We are excited to be contributing to the global space ecosystem and strengthening the UK’s leadership in this critical area.

    Goonhilly is at the heart of a growing cluster of 300 space organisations in Cornwall and the South West of England, which generate an annual income of £600 million and employ 3,200 people.

    Updates to this page

    Published 16 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: New measures tackle housing issues

    Source: Hong Kong Information Services

    Chief Executive John Lee said the Government would strive to “improve livelihoods in pursuit of happiness” as he announced in today’s 2024 Policy Address that the Monetary Authority (HKMA) will adjust the maximum loan-to-value ratio for all properties to 70% and that a new system will be devised to raise standards in subdivided units (SDUs).

    Mr Lee also gave an update on efforts to increase the supply of public housing, and said steps will be taken to widen access to the housing ladder, combat public rental housing tenancy abuse, and create land to build more housing.

    The Chief Executive said that taking into account the current economic and financial environment, the HKMA will adjust the maximum loan-to-value ratio for residential and non-residential properties to 70%, regardless of the value of the properties, whether the properties are for self-use or held by companies, and whether the purchasers are first-time home buyers. The maximum debt servicing ratio for properties will be adjusted to 50%.

    Acknowledging that “housing is an issue of great public concern”, Mr Lee said public housing supply in the coming five years to 2030 will reach 189,000 units, about 80% higher than in the five years to 2027. He added that in the past two years, the average waiting time for public rental housing dropped by half a year, from a peak of 6.1 years to the current 5.5 years, and is expected to fall to 4.5 years in 2026-27.

    On the issue of SDUs in residential buildings, Mr Lee said that the Government has decided to put in place, through legislation, a new system with regard to their rental. SDUs that meet required standards will be categorised as Basic Housing Units (BHUs), and owners of substandard SDUs that are upgraded to meet these standards can apply for BHU recognition. However, following a grace period, owners who continue to rent out substandard SDUs will be held criminally liable.

    The Government will set up a system allowing owners of pre-existing SDUs under rental to register for the grace period. The Government will allow time for those registered owners to carry out the necessary conversion works. New SDUs entering the market must be recognised as up-to-standard BHUs before they can be rented out.

    The Secretary for Housing will be empowered by law to decide, upon expiry of the grace period, when to take enforcement actions against substandard SDUs by batches in an orderly manner in light of actual circumstances.

    The Government proposes that the standards of BHUs should include the provision of windows, an individual toilet and a floor area of no less than 8 sq m. The Deputy Financial Secretary and the Secretary for Housing will announce the details and seek the views of LegCo and stakeholders for drawing up the legislative proposals and related measures, such as the timetable for registration.

    Addressing the public aspiration for home ownership, Mr Lee said the Housing Authority (HKHA) is aiming to gradually adjust the ratio between public rental housing (PRH) units and subsidised sale flats (SSFs) from the current 7:3 to 6:4. Meanwhile, the ratio between Green Form and White Form in respect of Home Ownership Scheme (HOS) flats will be revised from 4:6 to 5:5 to encourage more PRH tenants to buy HOS flats. The HKHA will tighten up its Well-off Tenants Policies by raising the additional rent limit and lowering the income limit for well-off tenants, so that public resources are appropriately allocated to applicants in need.

    With regard to PRH tenancy abuse, the HKHA will launch the “Cherish Public Housing Resources Award Scheme” in January next year to offer rewards to persons who provide concrete intelligence that leads to identification of tenancy abuse.

    Mr Lee also outlined plans to create more land for housing. He said that in order to streamline land development procedures and cut red tape, the Government has promulgated an internal circular stating that all approving departments should take a facilitating role.

    He added that the Government will outsource drone inspections of external walls of buildings and unauthorised building works to enhance speed and efficiency. The purview of the Development Bureau’s Development Projects Facilitation Office will be expanded to facilitate co‑ordination with departments in expediting the approval of land use and related matters in the Northern Metropolis.

    Mr Lee gave an update on the Kau Yi Chau Artificial Islands project, reporting that the statutory environmental impact assessment process for the reclamation works will commence by the end of this year. Completion of the relevant approvals is targeted for next year.

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Wild Bunch AG: BaFin imposes administrative fine

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    Annual financial reports / halfyearly financial reports are available in the Company Register. However, companies must provide information about when and where their financial reports are published in addition to this.

    An appeal may be lodged against the administrative fine order.

    Background information:

    Financial reports provide information on companies’ assets, financial position and results of operations. This information is important to investors because it allows them to make informed investment decisions.

    Companies such as Wild Bunch AG that are domiciled in Germany and issue securities that are traded on an organised market in Germany must publish an announcement about the date from which and the website where their annual financial reports and half-yearly financial reports are made publicly available, in addition to their availability in the company register.

    For annual financial reports, the announcement must be published no later than four months after the end of each reporting period and before the annual financial report; for half-yearly financial reports, the announcement must be published no later than three months after the end of each reporting period and before the half-yearly financial report.

    Failure to publish financial reports and announcements stating when and where these reports are made publicly available, or failure to publish such reports and announcements within the prescribed period, constitutes a contravention of sections 114 et seq. of the WpHG. BaFin may in each case impose administrative fines on companies that fail to comply with this obligation. The maximum amount for this fine is 10 million euros or up to 5% of total revenue.

    MIL OSI Economics –

  • MIL-OSI Economics: Huawei Globally Unveils Intelligent Campus 2030 White Paper Oct 16, 2024

    Source: Huawei

    Headline: Huawei Globally Unveils Intelligent Campus 2030 White Paper
    Oct 16, 2024

    [Dubai, UAE, October 16, 2024] During GITEX Global 2024, Huawei released the Intelligent Campus 2030 white paper for markets outside China at the forum Redefining Intelligent Campus with ICTs, Maximizing Enterprises’ Intelligent Productivity with Xinghe Intelligent Campus. This white paper envisions the future of the intelligent campus.
    David Shi, Vice President of Huawei’s ICT Marketing & Solution Sales Dept, delivered an opening speech at the forum. He highlighted that as digital technology advances, the intelligent connectivity of everything will become a reality, which will allow campuses to be fully digital and intelligent. He added that future campuses will become fully perceptible, collaborative, and constantly online smart buildings that are capable of self-learning, self-troubleshooting, and making decisions and executing them independently. “Huawei is committed to bringing digital to every campus for pervasive intelligence and has been deeply involved with intelligent campuses for many years. We have proposed to redefine campuses with ICTs and have leveraged the advantages of our product portfolios to reshape campus connectivity, platform, and business. Up to now, we have helped over 1000 customers worldwide build secure, green, digital, and intelligent campuses,” said David Shi.
    David Shi, Vice President of ICT Marketing & Solution Sales Dept, Huawei

    Eric He, CEO of Huawei Campus Team, said in his speech that revolutions in energy and information take us closer to the intelligent world, where campuses will play a crucial role. As Eric He explains, we have entered the stage of intelligent campus 2.0, which is 10 Gbps, digital, intelligent, and green. During this stage, campus networks will evolve from simply transmitting data to providing quality connections, campus platforms will move beyond integrating IoT to providing data intelligence, and extensive business management will be upgraded to low-carbon operations. “Relying on ICTs to redefine campuses, Huawei looks forward to working with customers and industry peers to innovate as well as envision and build intelligent campus 2030,” he said.
    Eric He, CEO of Huawei Campus Team

    Hawn Zhao, President of the Campus Network Domain, Data Communication Product Line, Huawei, introduced Huawei’s Xinghe Intelligent Campus Solution at the forum. As enterprises are witnessing a surge in the number of devices and video conferences, their digital and intelligent office requires improved network performance, security, experiences, and O&M. Huawei’s all-scenario Wi-Fi 7 products can strengthen signals by 100% and improve concurrency by 50%. In addition, Huawei’s application experience assurance solution ensures smooth video conferences and protects VIP services from being compromised, while the Wi-Fi Shield prevents data eavesdropping to ensure 100% network security.
    Helping Customers Advance Digital and Intelligent Transformation
    Ibrahim Al Kindi, IT Director of the Arab Authority for Agricultural Investment and Development (AAAID), shared AAAID’s experience in intelligent campus construction. AAAID and Huawei have collaborated to enhance its office experiences in five areas: seamless access, intelligent office conferences, full wireless network coverage, AI-based building control, and centralized IoT device access. Ibrahim Al Kindi stated that this is just the beginning of a new era of intelligent office, and AAAID will continue to explore the digital and intelligent transformation of the office field.
    Fahad Daghriri, Chief Information Officer of Technical and Vocational Training Corporation (TVTC) in Saudi Arabia, shared how TVTC built an intelligent campus network with the help of Huawei. This network allows for wide coverage, high performance, and efficient O&M, improving mobile office for teachers and studying for students. “Our collaboration aims to achieve a win-win situation, promote digital transformation, build a one-stop campus network, create a smart education platform, and lay a solid foundation for long-term development,” said Fahad Daghriri.
    Releasing the Intelligent Campus 2030 White Paper
    Huawei globally unveils the Intelligent Campus 2030 white paper

    The campus is a basic unit in the making of a city. It is the main place where people live and work. It acts as an important carrier to boost the digital economy, and a key point to realize green and low-carbon transformation. In recent years, the industry has conducted in-depth exploration and cultivated practices surrounding the intelligent campus. Huawei, along with industry experts and scholars, provides insights into its future in the Intelligent Campus 2030 white paper.
    Based on the insights into and practices of global intelligent campuses, this white paper proposes a far-sighted definition of future intelligent campus along with visions for its advancement. It outlines five trends that affect intelligent campus development, systematically depicts 10 typical future scenarios, and defines six key technical features of future intelligent campuses for the first time. Innovatively, the white paper proposes a unique reference architecture for the intelligent campus and 22 quantitative indicators to predict the prospects of intelligent campuses, guiding their implementation and construction.
    Click the link to read more about the white paper: https://www.huawei.com/en/giv/intelligent-campus-2030

    MIL OSI Economics –

  • MIL-OSI: YieldMax™ ETFs Announces Distributions on FIAT (105.76%), CONY (101.35%), ULTY (100.99%), YMAX (51.97%), YMAG (62.33%) and Others

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO and MILWAUKEE and NEW YORK, Oct. 16, 2024 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ ETFs listed in the table below.

    ETF
    Ticker    1    		 ETF Name Reference
    Asset    		 Distribution
    per Share    		 Distribution
    Frequency    		 Distribution
    Rate    2,4,5    		 30-Day
    SEC Yield    3    		 Ex-Date &
    Record Date    		 Payment
    Date
    YMAX YieldMax™ Universe Fund of Option Income ETFs Multiple $0.1747 Weekly 51.97% 62.93% 10/17/2024 10/18/2024
    YMAG YieldMax™ Magnificent 7 Fund of Option Income ETFs Multiple $0.2261 Weekly 62.33% 50.85% 10/17/2024 10/18/2024
    CONY YieldMax™ COIN Option Income Strategy ETF COIN $1.1098 Every 4 Weeks 101.35% 3.70% 10/17/2024 10/18/2024
    FIAT   YieldMax™ Short COIN Option Income Strategy ETF COIN $1.4513 Every 4 Weeks 105.76% 3.22% 10/17/2024 10/18/2024
    MSFO YieldMax™ MSFT Option Income Strategy ETF MSFT $0.5077 Every 4 Weeks 33.76% 3.33% 10/17/2024 10/18/2024
    AMDY YieldMax™ AMD Option Income Strategy ETF AMD $0.9212 Every 4 Weeks 84.48% 3.24% 10/17/2024 10/18/2024
    NFLY YieldMax™ NFLX Option Income Strategy ETF NFLX $0.7929 Every 4 Weeks 59.84% 3.45% 10/17/2024 10/18/2024
    ABNY YieldMax™ ABNB Option Income Strategy ETF ABNB $0.8003 Every 4 Weeks 61.67% 2.84% 10/17/2024 10/18/2024
    PYPY YieldMax™ PYPL Option Income Strategy ETF PYPL $1.1042 Every 4 Weeks 75.73% 2.94% 10/17/2024 10/18/2024
    ULTY YieldMax™ Ultra Option Income Strategy ETF Multiple $0.8267 Every 4 Weeks 100.99% 0.00% 10/17/2024 10/18/2024
    Scheduled for next week: YMAX YMAG MSTY YQQQ AMZY APLY AIYY DISO SQY SMCY


    The performance data quoted above represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling     (833) 378-0717.

    Note: DIPS, FIAT, CRSH and YQQQ are hereinafter referred to as the “Short ETFs”.

    Distributions are not guaranteed.   The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

    Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

    1All YieldMax™ ETFs (except YMAX,YMAG and ULTY) have a gross expense ratio of 0.99%. YMAX and YMAG have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs. ULTY has a gross expense ratio of 1.24% but the investment adviser has agreed to a 0.10% fee waiver through at least February 28, 2025.

    2The Distribution Rate shown is as of close on October 15, 2024. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.

    3 The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended September 30. 2024, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period. As of such date, the ULTY subsidized and unsubsidized 30-Day SEC Yields were 0.00% and 0.00%, respectively. The subsidized yield reflects fee waivers in effect while the unsubsidized yield does not adjust for any fee waivers in effect.

    4 Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.

    5 As of the date hereof, distributions for the following ETFs have included return of investor capital: TSLY, OARK, APLY, AMZY, NVDY, GOOY, JPMO, XOMO, PYPY, CONY, DISO, FBY, MSFO, NFLY, SQY, AMDY, MRNY, AIYY, MSTY, ULTY, YMAX, YMAG, YBIT, SNOY, CRSH,GDXY and FIAT. For additional information, please visit http://www.YieldMaxETFs.com/TaxInfo.

    Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

    Standardized Performance

    For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For PLTY, click here

    Prospectuses

    Click here.

    Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information are in the prospectus. Please read the prospectuses carefully before you invest.

    There is no guarantee that any Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment in any such Fund.

    Tidal Financial Group is the adviser for all YieldMax™ ETFs and ZEGA Financial is their sub-adviser.

    THE FUND, TRUST, AND SUB-ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)

    YMAX and YMAG generally invest in other YieldMax™ ETFs. As such, these two Funds are subject to the risks listed in this section, which apply to all the YieldMax™ ETFs they may hold from time to time.

    Investing involves risk. Principal loss is possible.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer time periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTY), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to BABO and TSMY)

    Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

    Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

    Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

    Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting and investor protection standards than U.S. issuers.

    Risk Disclosures (applicable only to GDXY)

    Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

    Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

    The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

    Risk Disclosures (applicable only to YBIT)

    YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

    Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

    Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

    Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

    Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

    Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer time periods.

    Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to YQQQ)

    Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

    Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

    Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given time period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

    YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, YieldMax™ ETFs or ZEGA Financial.

    © 2024 YieldMax™ ETFs

    The MIL Network –

  • MIL-OSI Asia-Pac: Hong Kong Customs presents Elite Enterprise Partnership Award 2024 (with photos)

    Source: Hong Kong Government special administrative region

         Hong Kong Customs today (October 16) held an award presentation ceremony of the Elite Enterprise Partnership Award 2024 at the Customs Headquarters Building to commend 18 stakeholders of logistics and intellectual property industries for their proactive co-operation and contribution to Customs. Established in 2022, this year marks the third round of the Award. In the past two presentation ceremonies, eight and 13 enterprises were awarded. Among the awardees this year, four have been presented with the award for three consecutive years. Hong Kong Customs expresses sincere gratitude for their unfailing support to the work of the department.

         At the ceremony, the Commissioner of Customs and Excise, Ms Louise Ho, said that the prevalence of e-commerce and online shopping has provided business opportunities for the industry, and brought new challenges to customs work at the same time. Hong Kong Customs attaches great importance to the participation of the private sector to strengthen its enforcement capabilities and recognises the instrumental role played by the industry for the department in striking a balance between clearance efficiency and enforcement effectiveness. Customs will maintain close co-operation with various industries to consolidate the role of Hong Kong as an international transport and logistics hub. 

         The awardees this year came from various sectors, including those of express couriers, logistics companies, container and terminal companies, logistics associations, and trademark representatives. The diversity of stakeholders showcases the close co-operation and connections between Customs and different enterprises.

         The World Customs Organization (WCO) has long been encouraging customs administrations to actively strengthen ties with partners. As the Vice-Chairperson for the Asia/Pacific Region of the WCO, Hong Kong Customs will spare no effort to reinforce the collaborative relationship between customs administrations in the region and the industry. In addition, Hong Kong Customs will promote new collaborative partnerships between regional customs authorities and other stakeholders to tackle the new challenges under the ever-changing enforcement environment.      

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: CHP retail crime task force recovers more than $8 million in stolen goods

    Source: US State of California 2

    Oct 15, 2024

    What you need to know: In September, California’s Organized Retail Crime Task Force continued its high rates of enforcement and is already well on its way to surpassing enforcement totals for all of 2023. This year, the task force has conducted 621 investigations leading to 1,123 arrests and recovered 269,992 stolen items valued at $8.1 million. Since inception, the task force has made 3,223 arrests, and recovered 880,276 stolen items valued at more than $46 million.

    SACRAMENTO — Governor Gavin Newsom today announced that California’s Organized Retail Crime Task Force (ORCTF), led by the California Highway Patrol (CHP), continues its work to tamp down on organized retail theft operations statewide. This year, the task force has conducted 621 investigations statewide leading to 1,123 arrests and recovered 269,992 stolen items valued at $8.1 million. 

    “California will continue to hold thieves accountable — helping to ensure the state’s historic low crime rates remain that way. I thank the California Highway Patrol for their work with local agencies throughout the state to protect our communities and businesses.”

    Governor Gavin Newsom

    Since the inception of the task force in 2019, the CHP has been involved in more than 3,000 investigations leading to the arrest of 3,223 suspects and the recovery of over 880,276 stolen goods valued at nearly $46 million.

    “The California Highway Patrol commends our retail theft investigation teams for their exceptional work in dismantling organized theft rings and protecting businesses across the state,” said CHP Commissioner Sean Duryee.  “They prevent significant losses and ensure that those who target retailers are brought to justice. Their dedication, skill, and teamwork are critical in keeping our communities and economy safe.”

    In September alone, CHP recovered 1,995 stolen items worth more than $306,553.  

    This effort led by the CHP is part of Governor Newsom’s comprehensive approach to combat organized retail crime, which includes new measures to crack down on property crime and creates unprecedented funding for police and prosecutors in local communities.

    Stronger enforcement. Serious penalties. Real consequences.

    Recently, Governor Newsom signed into law the most significant bipartisan legislation to crack down on property crime in modern California. Building on the state’s robust laws and record public safety funding, these bipartisan bills establish tough new penalties for repeat offenders, provide additional tools for felony prosecutions, and crack down on serial shoplifters, retail thieves, and auto burglars.

     

    Local support to fight organized retail crime

    Governor Newsom has invested $1.1 billion since 2019 to fight crime, help local governments hire more police, and improve public safety. Today’s announcement demonstrates the success of the Governor’s Real Public Safety Plan – which focuses on strengthening local law enforcement response, ensuring perpetrators are held accountable, and getting guns and drugs off our streets, including by increased deployment of California Highway Patrol to hot spots such as Oakland, Bakersfield, and San Francisco.

    The Governor announced that last year the state distributed $267 million to 55 local law enforcement agencies to help communities combat organized retail crime. These funds have enabled cities and counties to hire more police, make more arrests, and secure more felony charges against suspects. In just the first six months of the grant cycles, local law enforcement agencies that received the grants reported more than 6,900 arrests for retail theft, motor vehicle theft, and cargo theft offenses.

    Last year, the California Highway Patrol reported an annual 310% increase in proactive operations targeting organized retail crime, and special operations across the state to fight crime and improve public safety.

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  • MIL-OSI USA: California exceeds another clean energy milestone

    Source: US State of California 2

    Oct 15, 2024

    What you need to know: California’s battery storage capacity has surged by more than 3,000 MW in the last six months alone, now exceeding 13,000 MW total — a 30% increase as the state endured its hottest summer on record. 

    SACRAMENTO – California’s battery storage capacity has expanded rapidly, increasing by 3,012 megawatts (MW) in just six months to reach a total of 13,391 MW. This growth marks a 30% increase since April 2024, underscoring the state’s swift progress in building out clean energy infrastructure, especially during a summer marked by record-breaking heat. 

    Within the past five years, California has grown its battery storage capacity by more than 15 times, up from just 770 MW in 2019. To put this progress into perspective, it took the state nearly five years to reach 10,000 MW in early 2024 but just six months to add the most recent 3,000 MW.

    “We’re cutting pollution by adding more clean power to our grid. That means rapidly expanding battery storage to capture more of this clean energy that’s produced during the day, like solar, for when it’s needed when the sun goes down. These are the essential resources that we’ll continue needing more of as the climate crisis makes heat waves hotter and longer.”

    Governor Gavin Newsom

    Deploying battery storage is a critical component of the state’s climate and clean energy goals. The state is projected to need 52,000 MW of energy storage capacity by 2045. Today, it’s a quarter of the way there.

    Increasing storage allows California’s grid to store energy from clean energy sources like solar during the day and use it during peak demand in the evening. Ramping up battery storage is a key part of Governor Newsom’s energy roadmap for achieving the state’s ambitious climate goals and a 100% clean electric grid.

    Strengthening grid stability and clean energy resources

    The recent surge in battery storage has significantly enhanced California’s ability to maintain grid stability during extreme weather. Throughout the summer of 2024, battery storage reliably discharged to support the grid during the net peak hours – a critical stretch of the day when the sun sets and solar resources rapidly go offline.

    Battery storage discharge to the grid increased from 6,000 MW this spring to more than 8,000 MW this summer. 

    Programs like the California Energy Commission’s Demand Side Grid Support (DSGS) are also playing a crucial role in grid reliability. This summer the program reached 515 MW of capacity to reduce grid stress during extreme conditions. The program includes one of the largest storage virtual power plants in the world with a capacity exceeding 200 MW. The virtual power plant works by tapping into a network of customer-owned battery storage systems which are typically paired with solar. Together, the individual devices provide power back to the grid. By leveraging energy assets, DSGS helps reduce the use of fossil-fuel power and supports California’s transition to a 100% clean electric grid. 

    California’s clean energy leadership

    The state continues to set clean energy records. From January through September, clean energy supply equaled or exceeded demand in the California Independent System Operator (CAISO) service area for 1,084 hours over 179 different days. That’s equivalent to more than 45 days of meeting demand with 100% clean electricity. In August, solar energy serving the grid reached a new peak of 19,600 MW. 

    Governor Newsom has committed billions of dollars to accelerate clean energy infrastructure development across the state and it is making an impact, helping to fast-track projects needed to meet California’s climate and energy goals.

    Governor Newsom has taken unprecedented action to streamline clean energy infrastructure and invest billions of dollars to build more faster. Find clean energy projects in your community at build.ca.gov.

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    Oct 14, 2024

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    MIL OSI USA News –

  • MIL-OSI USA: Expanded Salton Sea restoration project breaks ground

    Source: US State of California 2

    Oct 15, 2024

    What you need to know: The state today broke ground on a project that expands ongoing restoration work at the Salton Sea to improve conditions for wildlife and surrounding communities. Most recently, $175 million in federal funding was made available to accelerate this effort as part of a $250 million commitment from the Inflation Reduction Act. This complements the more than $500 million in state funding secured to date. 

    SACRAMENTO – Governor Gavin Newsom highlighted the expansion of restoration work at the Salton Sea that broke ground today. The 750-acre expansion builds on the state’s ongoing work to enhance wildlife habitat, protect public health and improve water quality at the Salton Sea. The current project footprint is set at nearly 5,000 acres.

    California was granted $175 million from the Biden-Harris Administration this summer and $70 million in December 2023 as part of a $250 million commitment from the Inflation Reduction Act to accelerate Salton Sea restoration efforts. This complements the more than $500 million in state funding secured to date.

    The Salton Sea, California’s largest inland water body, has shrunk in recent years due to reduced inflows, resulting in an exposed lakebed that releases small dust particles that worsen air quality in the Imperial Valley, a region already burdened by poor air quality. The reduced water levels and increased salinity also negatively impact habitat for wildlife, including birds traveling the Pacific flyway.

    “California is making major strides on restoration efforts at the Salton Sea, and we’re expanding this critical work to create habitat on hundreds more acres and help improve air quality in neighboring communities. Our progress to date is a testament to the strong partnerships underpinning these efforts and I look forward to the work ahead to deliver on our ecological, health and economic goals for this important region.”

    Governor Gavin Newsom

    The federal support enables the expansion of the ongoing Species Conservation Habitat Project at the southern edge of the sea. Located near the community of Westmorland, the expanded project will create a network of ponds and wetlands to provide habitat for fish and birds and reduce dust in the area that impacts air quality.

    State and federal officials held a groundbreaking at the site today and surveyed work on the Species Conservation Habitat Project.

    Species Conservation Habitat Project expansion at the Salton Sea breaks ground

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    Oct 14, 2024

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  • MIL-OSI USA: San Gabriel Mountains National Monument project gets boost to improve access and water quality

    Source: US State of California 2

    Oct 15, 2024

    What you need to know: A $3.5 million federal grant will fund cleanup efforts at the recently expanded San Gabriel Mountains National Monument to improve access to the site and enhance water quality on the East Fork of the San Gabriel River, a key Southern California water source and recreational site within the national monument. 

    SACRAMENTO – Governor Gavin Newsom today highlighted a $3.5 million federal investment to improve access to the San Gabriel Mountains National Monument and enhance a key Southern California water source that provides Los Angeles County with one-third of its water supply.

    Federal, state, tribal and local partners celebrated the announcement today, which will support trash removal projects, create new walking trails and install additional restrooms on this popular stretch of the San Gabriel River used primarily for recreation by surrounding underserved communities.

    The state this month marked the 10-year anniversary of the San Gabriel Mountains National Monument, which was expanded by President Biden in May along with the Berryessa Snow Mountain National Monument. This action increased protected lands in California by 130,000 acres. California has conserved more than 25% of its land to date and is on track to reach its 30×30 goal in collaboration with federal, state, tribal and community partners.  

    “This collaborative effort is a win-win that will improve an important source of water for Southern California communities, deliver a healthier watershed for native species and enhance outdoor access for millions in the Los Angeles Basin. California will continue working with partners across the board to protect and preserve our common home.”

    Governor Gavin Newsom

    The State Water Board awarded an initial $1.5 million grant for the San Gabriel project and is planning an additional $2 million investment over the next three years through funding from the U.S. Environmental Protection Agency’s Nonpoint Source Pollution Management Program. The investments support a multi-phase project that will enhance river access, protect fragile forest and riparian habitat and improve conditions for sensitive species, including the endangered Santa Ana sucker. Construction on the project’s first phase is expected to start early next year and will include an access trail and stairs to the riverbank, native plant restoration, increased trash bins and dumpsters and an asphalt parking lot.  

    San Gabriel Mountains

    California’s ongoing work to conserve biodiversity and natural resources includes the state’s first-ever ancestral land return effort through the Tribal Nature-Based Solutions Grant Program, which provided more than $100 million in funding for the return of roughly 40,000 acres to indigenous communities. The state is also advancing Nature-Based Solutions that support the ability of lands to absorb more carbon than they release, helping to combat the climate crisis. Earlier this year, the state opened the first new state park in nearly a decade, Dos Rios, which conserves approximately 1,600 acres of land and is the largest public-private floodplain restoration project in California.

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    MIL OSI USA News –

  • MIL-OSI USA: Skunk Captured Last Night at Honolulu Harbor

    Source: US State of Hawaii

    Skunk Captured Last Night at Honolulu Harbor

    Posted on Oct 15, 2024 in Main

    October 15, 2024
     NR24-30

    HONOLULU – A live skunk was captured at Honolulu Harbor last night by agriculture inspectors from the Hawai‘i Department of Agriculture (HDOA) after several days of tracking the animal.

    Last Thursday, inspectors from HDOA’s Plant Quarantine Branch received a report at about 3:00 a.m. that stevedores spotted a skunk running around the parking lot at Pier 1. Inspectors set traps in the area that day.

    At midnight Friday, security personnel from the U.S. Immigration Office (USIO) at Pier 1 contacted inspectors and reported that the skunk was seen on a security camera entering and exiting the property through a fence. Inspectors responded to the area and attempted to capture the skunk but were not successful.

    Last night at 8:30 p.m., USIO security personnel reported the skunk was seen taking shelter under a cargo container used for storage. Three inspectors responded and were able to capture the skunk using a net, pole and wooden boards to scare it out its hiding place, while braving the animal’s odoriferous natural defense system. The skunk is being tested for rabies.

    It is not known how long the skunk had been in the area or what vessel it may have hitchhiked on.

    Live skunks have been captured at Pier 1 in February 2018 January 2021, July 2021 and June 2022. On Maui, a live skunk was captured at Kahului Harbor in December 2020 and one was captured at a trucking company in August 2018. All previously captured skunks have tested negative for rabies.

    Skunks are prohibited in Hawai‘i and are only allowed by permit for research and exhibition in a municipal zoo. Skunks inhabit the U.S., Canada, South America, Mexico and other parts of the world. In the U.S., they are recognized as one of the four primary wild carriers of rabies, a fatal viral disease of mammals that is often transmitted through the bite of an infected animal. Hawai‘i is the only state in the U.S. and one of the few places in the world that is free of rabies.

    Sightings or captures of illegal and invasive species should be immediately reported to the state’s toll-free Pest Hotline at 808-643-PEST (7378).

    ###

    Skunk found at Honolulu Harbor

    Skunk captured at Honolulu Harbor

    MIL OSI USA News –

  • MIL-OSI Australia: NSW sets target to boost billion-dollar screen and digital games industries, supporting thousands of jobs

    Source: New South Wales Ministerial News

    Published: 16 October 2024

    Released by: Minister for the Arts

    Supporting Australian storytelling, developing the next generation of creative talent, and a plan to grow the digital games sector are the key priorities of the new three-year screen and digital games strategy.

    The NSW screen industry added almost $1.1 billion to the state economy in 2021-22 and is currently home to 51% of Australia’s screen production, and 49% of post-production businesses. To ensure NSW remains the leading screen state, the NSW Screen and Digital Games Strategy will:

    Invest in developing local talent and audiences, including:

    • $1 million pilot program to address skills shortages will be developed and rolled out with TAFE, AFTRS and NIDA to fast-track entry level and mid-career below the line practitioners in the below the line workforce.
    • $200,000 IP option fund to give producers the ability to purchase IP rights to turn home-grown novels, non-fiction work and podcasts into screen and gaming content, so we have more Australian stories on screen.
    • $200,000 Community Film Festival Opening Night Fund will support communities share the vibrancy of screen stories with audiences from diverse and underrepresented backgrounds, by bringing them together to enjoy screen community film festivals.

    Role of Screen NSW

    • New film friendly legislation will be introducedto ensure a strengthened standard of working.
    • Address impacts of Artificial Intelligence (AI) on the sector: Screen NSW will convene an industry working group to help develop an Australian industry response to AI, and review funding guidelines.
    • Priority hotline: The Head of Screen NSW will be given the authority to escalate critically urgent production issues for an urgent government response.

    Supporting infrastructure

    • Addressing the critical shortage of filming infrastructure in NSW, the NSW Government will develop new partnerships with the private sector to explore alternate options for studio space, including a second studio and Callan Park.
    • Centre for Screen culture and digital innovation. Working with local government and industry partners, the NSW Government will support plans to establish a hub for creative workers across the industry.

    Focus on developing digital games industry

    The $466 billion global digital gaming industry is highlighted as an enormous opportunity. New incentives to support games production and increase NSW revenue for digital games to $406.39 million in 2027-28 include:

    • Reducing Digital Games Rebate NSW expenditure minimum from $500,000 down to $350,000. The Rebate is designed to nurture homegrown developers, attract and retain work and talent to the state, and accelerate growth in the NSW digital games sector. While many larger, established studios currently access the Rebate, the lowered threshold mean it will now be more accessible to a broader range of digital games companies in NSW, including many independent studios that currently operate in the state. 
    • Increased investment in the Digital Games Seed Development Program and Market Travel Programs. A flourishing games industry is one that includes large and small developers, an investment of$1.5 million over three years will support digital games producers to essential skills and build their industry networks and knowledge.

    Minister for the Arts John Graham said:

    “Our people, our stories, and our skills – these are the reasons why more than half of Australian screen production happens here in NSW. This strategy sets out how the government and the industry could work together to build on that.

    “While there has been a recent slowdown in global screen production, the Federal Government’s increased location offset will see Australia gain a greater share of that market. This strategy recognises the opportunities that brings, as well as the pressure that puts on NSW production facilities.

    “We have identified ways of cutting the red tape that has made NSW a ‘No’ state when it comes to attracting productions. Backed by the introduction of a NSW Screen and Digital Games Act, we aim to make NSW a ‘Yes’ state.

    “For the first time in NSW, we are putting digital gaming front and centre. This strategy sets out a ‘hothouse’ approach that backs existing high performing producers to support the ambitious target of 20% compound annual growth in the sector.”

    Head of Screen NSW Kyas Hepworth said:

    “I am thrilled to be able to drive this strategy and provide a path forward for our sector, working towards a vibrant and sustainable future for all screen practitioners and game makers in NSW.

    “Storytelling has the power to unite and inspire, and as a state with such a rich depth of talent, we strive to be known as the place to create compelling stories. This is an exciting time for our sector as, while developing this strategy, we have taken stock of where the industry is at and looked forward to where we want to be in the next three years. This has informed our strategy and with this vital support we want to move forward with the industry and take it to new heights.

    “I am confident this strategy will provide assurance that Screen NSW are committed to supporting NSW stories and storytellers.”

    Background

    The strategy outlines four strategic priority focuses to support and sustainably grow the screen and digital games sector. These include:

    • Creating stories: We lead the way in making enriching, high calibre stories and cultural content for local and global audiences.
    • Building sustainable growth: Our businesses are globally recognised, connected and competitive. High quality, accessible spaces help them grow and create jobs that are future proofed and sustainable.
    • Improving capacity and capability: We set best practice standards to ensure workers have career pathways, are respected, safe, appropriately remunerated and supported in their career ambitions.
    • Developing audiences to increase demand: Local content finds and delights diverse audiences locally and around the world.

    New legislation: The strategy includes proposed new legislation to ensure screen friendly approaches across local councils and state government agencies.

    In 2025, the NSW Government will introduce the NSW Screen and Digital Games Act to strengthen NSW as a film-friendly jurisdiction, reduce red-tape and provide the highest level of cooperation across government with filmmakers to maximise opportunities for the sector. This will strengthen elements of the Making NSW Film Friendly Premier’s Memorandum and incorporate an updated Local Government Filming Protocol.

    Renewed Screen NSW agency: The strategy will provide Screen NSW with greater independence and will build its capacity to continue to strengthen and grow the industry. This will mean:

    • Shortening investment approval timeframes, contracting and payment terms.
    • Legislation will be introduced for the Film and Television Industry Advisory Committee to include digital games representation and renaming the board to reflect this update.
    • The Head of Screen NSW will be given the authority to escalate critically urgent production issues for an urgent government response.

    The full strategy available is here: Screen NSW – NSW Screen and Digital Games Strategy

    MIL OSI News –

  • MIL-OSI USA: Judge orders Pennsylvania contractor to pay $85K in wages, benefits, overtime owed to 6 workers on federal projects in New York, New Jersey

    Source: US Department of Labor

    NEW YORK – An administrative law judge has ordered a Pennsylvania-based federal contractor to pay $85,284 in back wages for failing to pay prevailing wages, fringe benefits and overtime pay owed to workers employed on multiple federal construction projects, after an investigation and litigation by the U.S. Department of Labor.

    A decision by the department’s Office of Administrative Law Judges found that JRW Service Group LLC and its owner, Jason Winters, violated the Davis-Bacon Act by classifying and paying six workers as laborers improperly when they did the work of carpenters, pipefitters and other trades at three worksites for the U.S. General Services Administration and the U.S. Coast Guard. Specifically, the work was performed at federal court buildings in Brooklyn and Central Islip and the U.S. Coast Guard training center in Cape May, New Jersey. The judge also found the company failed to pay workers fringe benefits, as required in federal contracts.

    In addition, the judge found the employer did not pay employees the required overtime rates for hours over 40 in a workweek at all three worksites in violation of the Contract Work Hours and Safety Standards Act. The case was referred to the department’s Office of the Solicitor when JRW Service Group refused to pay the workers’ back wages. 

    “Employers who fail to pay required prevailing wages and fringe benefits because they classify employees improperly cause financial harm to workers on government-funded projects,” said Wage and Hour Division District Director Jorge Alvarez in New York. “The Wage and Hour Division is committed to ensuring that these employees are made whole using all available enforcement tools.”

    The order also debarred the company and its owner from working on future federal and federally funded construction projects for three years.

    “This decision and debarment should make clear that the U.S. Department of Labor will pursue all necessary legal actions to ensure that employers are held accountable when they violate federal prevailing wage laws,” said Regional Solicitor of Labor Jeffrey S. Rogoff in New York. 

    The division’s New York City District Office conducted the investigation. Trial attorneys Susannah Kroeber, Susan Jacobs and Stacy Goldberg of the regional Office of the Solicitor in New York litigated the case.

    Learn more about the Wage and Hour Division and the Davis-Bacon and Related Acts, including a search tool to use if you think you may be owed back wages collected by the division and how to file an online complaint. Workers and employers can call the division’s toll-free helpline at 866-4US-WAGE (487-9243) confidentially with questions, regardless of immigration status. The division can speak with callers in more than 200 languages.

    Download the agency’s Timesheet App for iOS and Android devices – available in English and Spanish – to ensure hours and pay are accurate.

    MIL OSI USA News –

  • MIL-OSI USA: Disaster Recovery Center Opens in Laurens County

    Source: US Federal Emergency Management Agency 2

    Disaster Recovery Center Opens in Laurens County

    A Disaster Recovery Center will be open in Laurens County to provide in-person assistance to South Carolinians affected by Hurricane Helene.  

    Laurens County
    Laurens County Public Library
    1017 W. Main St.
    Laurens, SC 29360

    Open Oct. 16-19 from 8 a.m.-7 p.m.  

    This location joins the centers previously opened in Aiken, Anderson, Greenville, Lexington and Pickens counties.

    Aiken County 
    Nancy Carson Library
    135 Edgefield Road
    North Augusta, SC 29841 

    Open Oct. 14-17 from 8 a.m.-7 p.m. 

    Anderson County 
    Anderson County Library
    300 N. McDuffie St.
    Anderson, SC 29621 

    Open Oct. 14-17 from 9 a.m.-8 p.m.  

    Greenville County 
    Freetown Community Center 
    200 Alice Ave. 
    Greenville, SC 29611 

    Open daily from 8 a.m.–7 p.m. 

    Lexington County 
    Batesburg-Leesville Fire Station 
    537 W. Church St.  
    Batesburg, SC 29006 

    Open Oct. 13–16 from 8 a.m.–7 p.m.  

    Pickens County
    Captain Kimberly Hampton Memorial Library
    304 Biltmore Road
    Easley, SC 29640

    Open Oct. 15-19 from 8 a.m.-7 p.m.   

    Additional Disaster Recovery Centers will open soon in more affected areas. You can visit any open center to meet with representatives of FEMA, the state of South Carolina and the U.S. Small Business Administration. No appointment is needed. To find other center locations, go to fema.gov/drc or text “DRC” and a Zip Code to 43362. 

    Homeowners and renters in Abbeville, Aiken, Allendale, Anderson, Bamberg, Barnwell, Beaufort, Cherokee, Chester, Edgefield, Fairfield, Greenville, Greenwood, Hampton, Jasper, Kershaw, Laurens, Lexington, McCormick, Newberry, Oconee, Orangeburg, Pickens, Richland, Saluda, Spartanburg, Union and York counties and the Catawba Indian Nation can apply for federal assistance.

    The quickest way to apply is to go online to DisasterAssistance.gov. You can also apply using the FEMA App for mobile devices or calling toll-free 800-621-3362. The telephone line is open every day and help is available in many languages. If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA your number for that service. For a video with American Sign Language, voiceover and open captions about how to apply for FEMA assistance, select this link.

    FEMA programs are accessible to survivors with disabilities and others with access and functional needs. 

    kwei.nwaogu

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: A high-level Indian delegation, led by Union Minister of State for Home Affairs, Shri Nityanand Rai, participates in Asia-Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR) 2024 in Manila, Philippines

    Source: Government of India

    A high-level Indian delegation, led by Union Minister of State for Home Affairs, Shri Nityanand Rai, participates in Asia-Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR) 2024 in Manila, Philippines

    India is committed to implement inclusive and proactive actions to mitigate the impact of disasters, in line with the Prime Minister of India Shri Narendra Modi’s 10-point agenda for Disaster Risk Reduction (DRR) strategies

    Coalition for Disaster Resilient Infrastructure (CDRI), an initiative of India now has 47 member countries and is providing technical assistance and capacity-building for investing in disaster-resilient infrastructure

    Posted On: 16 OCT 2024 12:31PM by PIB Delhi

    A high-level Indian delegation, led by Union Minister of State for Home Affairs, Shri Nityanand Rai, participated in Asia-Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR) 2024 in Manila, Philippines. The Conference was inaugurated by the President of the Republic of Philippines, Mr. Bongbong Marcos. The conference under the theme “Surge to 2030: Enhancing ambition in Asia Pacific to accelerate disaster risk reduction” brought together Ministers and policymakers from across Asia-Pacific region to discuss strategies for reducing disaster risks in the face of increasing climate related challenges.

    In Ministerial Statement, Minister of State for Home Affairs, Shri Nityanand Rai acknowledged that disasters are undeniable reality, with increasing losses of lives, economies and overall development. He emphasised India’s commitment to implementing inclusive and proactive actions to mitigate the impact of disasters, in line with the Prime Minister Shri Narendra Modi’s 10-point agenda for Disaster Risk Reduction (DRR) strategies.

    The Minister focused on the key priorities in Disaster Risk Reduction (DRR) viz. Early Warning System (EWS) and Early Action, Disaster Resilient Infrastructure and Financial Provisions for DRR. Minister of State emphasised on the modern technologies for EWS such as the Common Alerting Protocol (CAP) and Cell Broadcast Systems, establishment of the Indian Tsunami Early Warning Centre (ITEWC), which provides Tsunami advisories to 25 Indian Ocean countries for last- mile connectivity.

    Shri Nityanand Rai highlighted India’s leadership in promoting infrastructure resilience as a cornerstone of sustainable development and said Coalition for Disaster Resilient Infrastructure (CDRI), an initiative of India now has 47 member countries and is providing technical assistance and capacity-building for investing in disaster-resilient infrastructure.

     

    Minister of State for Home Affairs also informed that India is one of the few countries with dedicated financial provisions for DRR through institutional mechanisms and the 15th Finance Commission of India has allocated USD 30 billion for the National Disaster Risk Management Fund (NDRMF) and State Disaster Risk Management Fund (SDRMF) for the financial cycle 2021-22 to 2025-26.

    *****

    RK/VV/ASH

    (Release ID: 2065249) Visitor Counter : 20

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: The EBA’s Banking Stakeholder Group elects its new Chair and Vice-Chairs

    Source: European Banking Authority

    The Banking Stakeholder Group (BSG) of the European Banking Authority (EBA) elected Christian Stiefmueller as new Chair during its meeting on 15 October 2024. Mr Stiefmueller, who represents consumers, will be supported by two Vice-Chairs, Julia Strau, and Edgar Loew, representing the financial institutions, and the independent top-ranking academics, respectively. Their mandates run for two years.

    Legal basis and background

    The BSG is set up according to Article 37 of the EBA Founding Regulation, to help facilitate dialogue and consultation with stakeholders on the work of the EBA.

    The BSG is composed of 30 members who serve for a period of four years with the possibility to be renewed for an additional term.

    MIL OSI Europe News –

  • MIL-OSI Asia-Pac: Make quality a centrestage of industry, a default setting in product manufacturing: Shri Piyush Goyal

    Source: Government of India

    Make quality a centrestage of industry, a default setting in product manufacturing: Shri Piyush Goyal

    Shri Goyal urges industry captains to unite in adopting good quality standards

    Government supporting innovation and quality together for Viksit Bharat: Shri Goyal

    174 QCOs covering 732 products introduced in last decade to boost quality in manufacturing: Shri Goyal

    Posted On: 16 OCT 2024 3:29PM by PIB Delhi

    Union Minister of Commerce & Industry, Shri Piyush Goyal during his valedictory speech at the Indian Foundation for Quality Management (IFQM) Symposium today in New Delhi urged the industry captains and stakeholders in attendance to make quality the centrestage of the industry. He further urged the participants to make quality a default setting in product manufacturing and not an option for the customers.

    Shri Goyal praised IFQM for taking the industry-led initiative on quality and said that changing mindset is the largest impediment to India’s adoption of quality. Shri Goyal noted that Prime Minister Shri Narendra Modi has always put quality at the core of the Government’s efforts in building the nation. He added that the PM’s vision of ‘Zero Defect and Zero Effect’ has been at the forefront of his governance for the past two terms to make India a developed nation. He stressed that the sustainable manufacturing practices moving towards a green economy will be the defining catalyst towards the journey of becoming a Viksit Bharat. On the Rs 1 lakh crore Anusandhan National Research Foundation (ANRF), he said that through this fund the Government will be supporting innovation for the industry to make it a prerequisite alongside quality for a Viksit Bharat. 

    Shri Goyal mentioned that till 2014 there were only 14 Quality Control Orders (QCOs) covering 106 products, while in the last decade the Government has expanded to 174 QCOs covering 732 products. Emphasising on the effect quality can have on toy manufacturing, the Minister stated that introducing quality control has led to an increase in exports. He also said that for India to be recognised as a brand at the world stage, quality has to be given foremost importance. If it is coming from India it has to have an imprint of quality, that should be our aspirational goal, Shri Goyal said.

    The Union Minister invited industry leaders to partner with the Government and take quality to the MSME sector through the QCO ecosystem. He further urged the industry captains to share their best practices and persuade companies with technical manpower for aiding the Government’s technical standards committees to align quality with global standards. He also called for a government, industry and academia partnership with the quality control regulators working to solve difficulties manufacturers have in adopting good quality standards.

    Shri Goyal also asked the participants to develop a sense of duty towards Viksit Bharat and said that the country’s export competitiveness will not come from subsidies rather an Atmanirbhar Bharat will come from a self-reliant India. Quality is not our job, it is our duty, he said.

    ***

    AD/VN/AM

    (Release ID: 2065319) Visitor Counter : 58

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Other events – Exchange of views with Margrethe Vestager – 17-10-2024 – Subcommittee on Tax Matters

    Source: European Parliament

    On 17 October 2024, from 10:30 to 11:30, the FISC Subcommittee will hold an exchange of views with Margrethe Vestager, Executive Vice-President of the European Commission in charge of Europe Fit for the Digital Age, and Commissioner for Competition, responsible for fair digital taxation.

    The discussion will focus on the recent Court of Justice (CJEU) ruling on the Apple tax State aid case in Ireland and its implications on the fight against aggressive tax planning and tax avoidance, as well as how to ensure that all companies pay their fair share of tax.

    The CJEU ruling of 10 September 2024 confirmed the decision by the European Commission from 2016, that Ireland granted Apple illegal State aid in form of tax breaks amounting to €13 billion, which Ireland now has to recover.

    MIL OSI Europe News –

  • MIL-OSI Europe: REPORT on the proposal for a regulation of the European Parliament and of the Council establishing the Ukraine Loan Cooperation Mechanism and providing exceptional macro-financial assistance to Ukraine – A10-0006/2024

    Source: European Parliament

    DRAFT EUROPEAN PARLIAMENT LEGISLATIVE RESOLUTION

    on the proposal for a regulation of the European Parliament and of the Council establishing the Ukraine Loan Cooperation Mechanism and providing exceptional macro-financial assistance to Ukraine

    (COM(2024)0426 – C10‑0106/2024 – 2024/0234(COD))

    (Ordinary legislative procedure: first reading)

    The European Parliament,

    – having regard to the Commission proposal to Parliament and the Council (COM(2024)0426),

    – having regard to Article 294(2) and Article 212 of the Treaty on the Functioning of the European Union, pursuant to which the Commission submitted the proposal to Parliament (C10‑0106/2024),

    – having regard to Article 294(3) of the Treaty on the Functioning of the European Union,

    – having regard to the budgetary assessment by the Committee on Budgets,

    – having regard to the undertaking given by the Council representative by letter of 9 October 2024 to approve Parliament’s position, in accordance with Article 294(4) of the Treaty on the Functioning of the European Union,

    – having regard to Rule 60 of its Rules of Procedure,

    – having regard to the letter from the Committee on Foreign Affairs,

    – having regard to the report of the Committee on International Trade (A10-0006/2024),

    1. Adopts its position at first reading, taking over the Commission proposal;

    2. Calls on the Commission to refer the matter to Parliament again if it replaces, substantially amends or intends to substantially amend its proposal;

    3. Instructs its President to forward its position to the Council, the Commission and the national parliaments.

     

     

    EXPLANATORY STATEMENT

    The ongoing war of aggression by Russia has significantly increased Ukraine’s financial needs. To address these challenges, both the European Union (EU) and the international community are being called upon to provide additional funding.

     

    In response, the European Commission has put forward a legislative proposal aligned with a G7 initiative. This proposal aims to utilize the extraordinary revenues from immobilized Russian assets to cover Ukraine’s urgent financial needs. Specifically, the proposal seeks to establish the Ukraine Loan Cooperation Mechanism (ULCM), which will enable Ukraine to service and repay loans of up to €45 billion. These loans will be repaid using the windfall profits generated from frozen Russian assets. The EU’s proposed macro-financial assistance (MFA) includes an amount of up to €35 billion, intended to support Ukraine’s immediate financing needs. This assistance will be delivered in a predictable, long-term, and timely manner.

     

    A key feature of this MFA is that Ukraine will not be required to repay the loan directly. Instead, repayments will be covered by windfall profits generated from interest accrued on immobilized Russian assets. Additionally, the terms of this loan will align with the conditions under the Ukraine Facility.

     

    The rapporteur emphasizes the importance of a swift procedure in order for the EU to adopt this proposal by the end of October 2024 to ensure that the MFA loan can be released by the end of 2024.

     

     

     

    ANNEX: ENTITIES OR PERSONS FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT

    Pursuant to Article 8 of Annex I to the Rules of Procedure, the rapporteur declares that she has received input from the following entities or persons in the preparation of the report, prior to the adoption thereof in committee:

    Entity and/or person

    Bálint Ódor, Chair of the Committee of Permanent Representatives, Council of the European Union

    The list above is drawn up under the exclusive responsibility of the rapporteur.

    Where natural persons are identified in the list by their name, by their function or by both, the rapporteur declares that she has submitted to the concerned natural persons the European Parliament’s Data Protection Notice No 484 (https://www.europarl.europa.eu/data-protect/index.do), which sets out the conditions applicable to the processing of their personal data and the rights linked to that processing.

     

     

    BUDGETARY ASSESSMENT (11.10.2024)

    for the Committee on International Trade

    on the proposal for a regulation of the European Parliament and of the Council establishing the Ukraine Loan Cooperation Mechanism and providing exceptional macro-financial assistance to Ukraine

    (COM(2024)0426 – C10‑0106/2024 – 2024/0234(COD))

    Rapporteur for budgetary assessment: Janusz Lewandowski 

     

    The Committee on Budgets has carried out a budgetary assessment of the proposal under Rule 58 of the Rules of Procedure and has reached the following conclusions:

    – having regard to Council Regulation (EU, Euratom) 2022/2496 of 15 December 2022 amending Regulation (EU, Euratom) 2020/2093 laying down the multiannual financial framework for the years 2021 to 2027[1],

    – having regard to Council Regulation (EU, Euratom) 2024/765 of 29 February 2024 amending Regulation (EU, Euratom) 2020/2093 laying down the multiannual financial framework for the years 2021 to 2027[2],

    – having regard to Regulation (EU) 2024/792 of the European Parliament and of the Council of 29 February 2024 establishing the Ukraine Facility[3],

    – having regard to Regulation (EU) 2022/2463 of the European Parliament and of the Council of 14 December 2022 establishing an instrument for providing support to Ukraine for 2023 (macro-financial assistance +)[4],

    – having regard to Council Decision (CFSP) 2022/335 of 28 February 2022 amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine[5],

    – having regard to Council Decision (CFSP) 2024/577 of 12 February 2024 amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine[6],

    – having regard to Council Decision (CFSP) 2024/1470 of 21 May 2024 amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine[7],

    – having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union[8],

    – having regard to the Interinstitutional Agreement of 16 December 2020 between the European Parliament, the Council of the European Union and the European Commission on budgetary discipline, on cooperation in budgetary matters and on sound financial management, as well as on new own resources, including a roadmap towards the introduction of new own resources[9],

    A. whereas the Commission proposed a draft amendment to Council Regulation (EU, Euratom) 2022/2496 that made it possible to allow contingent liabilities stemming from financial assistance to Ukraine for 2023 and 2024 only to be treated in the same manner as financial assistance for Member States;

    B. whereas there is a need for greater sustained budgetary support to Ukraine;

    C. whereas Ukraine’s financing needs are expected to significantly outstrip current IMF projections and total at least USD 38 billion for 2025, making the amounts available under previous rounds of macro-financial assistance (MFA), the Ukraine Facility and the current round of MFA insufficient to ensure the required level of support, particularly for 2026 and 2027;

    D. whereas Council Decision (CFSP) 2024/577 provides rules for allocating extraordinary revenues stemming from immobilised Russian state assets to the Ukraine Peace Facility and the Ukraine Facility, considering that EUR 210 billion of Russian Central Bank assets are currently held by financial institutions in the EU;

    E. whereas the G7 leaders announced the launch of Extraordinary Revenue Acceleration Loans for Ukraine, which would make USD 50 billion available to Ukraine and would be secured through immobilised Russian state assets;

    F. whereas the next tranche of the IMF’s loan to Ukraine is also linked to the entry into force of the proposed regulation;

    1. Takes note of the proposal for the creation of the new Ukraine Loan Cooperation Mechanism, which will provide non-repayable financial support with a view to assisting Ukraine to repay loans provided for its support and will be endowed mainly by the amounts transferred in accordance with Annex XLI to Council Regulation (EU) 833/2014[10], as well as by any potential amounts stemming from voluntary contributions from Member States, third countries or other sources, for up to EUR 45 billion;

    2. Takes note of the conditions and obligations that Ukraine must fulfil in order to receive and use the non-repayable financial support provided by the Ukraine Loan Cooperation Mechanism, particularly the obligation for the repayment of the principal, interest and any other costs of the MFA loan or eligible bilateral loans;

    3. Takes note of the proposal for the creation of a new MFA instrument for the benefit of Ukraine, providing support of up to EUR 35 billion, pending other contributions under the G7 agreement on Extraordinary Revenue Acceleration Loans for Ukraine, over a duration of 45 years; takes note of the fact that the Commission’s proposal seems to be based on the assumption that the Russian state assets will remain immobilised for 45 years and on various assumptions regarding the future flows of extraordinary revenues stemming from the immobilisation of Russian sovereign assets held in the EU;

    4. Takes note of the fact that there is no grace period for the repayment of the principal or interest for the MFA instrument;

    5. Takes note of the fact that the MFA instrument, unlike previous instruments, does not give Ukraine the option to request interest rate subsidies covered by Member States;

    6. Takes note of the preconditions for support, such as effective democratic mechanisms, including a multi-party parliamentary system and the rule of law, and respect for human rights, including for those of minorities, and takes note of the consequences of not meeting, or no longer meeting, these preconditions;

    7. Takes note of the future negotiation between the Commission and Ukraine on the Memorandum of Understanding containing the guidelines that will underpin all future disbursements to Ukraine and must be consistent with the qualitative and quantitative steps contained in the Annex to Council Implementing Decision (EU) 2024/1447 of 14 May 2024 on the approval of the assessment of the Ukraine Plan[11] and any amendments thereto; takes note of the fact that the assessment criteria for the funds allocated through the Ukraine Loan Cooperation Mechanism are aligned with the assessment criteria established in Article 18 of Regulation (EU) 2024/792 in order to guarantee effective support and optimal use of resources for Ukraine’s recovery and development; calls on the Commission to pay particular attention to consulting the Verkhovna Rada and involving relevant stakeholders, including civil society organisations;

    8. Takes note of the derogation from Article 31(3), second sentence, of Regulation (EU) 2021/947[12], which implies that the External Action Guarantee will not be used to guarantee the borrowing of the amounts to be lent in the framework of this MFA and that, therefore, the guarantees for this MFA will be provisioned by the headroom; calls for caution in extending borrowing without a clear guarantee mechanism, with a view to ensuring that any additional borrowing does not jeopardise the Union’s financial stability;

    9. Takes note of the derogation from Article 214(1) of Regulation (EU) 2024/2509, preventing the establishment of a provisioning rate, because of the use of the headroom for the provisioning of guarantees;

    10. Recalls all the mandatory provisions to be included in the MFA Loan Agreement, particularly those related to the early repayment of the amounts borrowed should it be recognised that Ukraine has engaged in any act of fraud, corruption or any other illegal activity detrimental to the financial interests of the Union;

    11. Takes note of the repayment arrangements, and particularly of the waterfall structure to be established in the MFA Loan Agreement and the potential implications for the EU budget;

    12. Takes note of the provisions on the transmission of information to Parliament and the Council, as laid down in the Interinstitutional Agreement on good interinstitutional cooperation and governance and specifically within the framework of the annual budgetary procedure, ensuring full accountability and oversight of how funds are managed and disbursed; acknowledges the urgent need to implement the proposed regulation and calls for the relevant draft amending budget to include only the changes arising from the entry into force of the proposed regulation; expects the proposal to provide an update on the borrowing plan as per Article 52(1)(d)(iii), third indent, of Regulation (EU, Euratom) 2024/2509; expects to be informed, in a timely manner, of the implementation of borrowing as per Article 223(4)(b) of Regulation (EU, Euratom) 2024/2509, including of any potential early repayments and the construction of a buffer, if applicable;

    13. Takes note of the fact that, according to the financial legislative statement, the implementation of the proposal does not require any additional human resources or administrative expenditure; reiterates its understanding that new policy priorities or tasks must be accompanied by adequate resources and staff to properly implement them;

    14. Regrets the proposal’s lack of clarity about whether the Union budget has final liability, particularly in the framework of a loan guaranteed solely by the headroom, independently of the support from the Ukraine Loan Mechanism, for example in the event of significant changes to the sanctions regime underwriting the mechanism;

    15. Requests that the Commission clarify the potential interplay and complementarity in the funding provided by the Ukraine Facility, in particular under Pillar I for 2025, and by the MFA, and explain how the latter will be linked to relevant political and reform-related conditions that are consistent with and support the conditionality under the Ukraine Facility, in particular the Ukraine Plan;

    16. Requests that the Commission provide the budgetary authority with details of the aggregation of liabilities to the headroom, contingent on borrowing and lending operations;

    17. Recalls that a further amendment to the MFF, adopted by unanimity in the Council, would be required in order to extend the ability of the Union to treat the financial assistance to Ukraine in the same manner as financial assistance to Member States until the end of the current MFF;

    18. Regrets the urgency of this proposal, stemming partly from the lack of flexibility granted by the Commission proposal on the amendment of the MFF, and the subsequent Council decision pressuring Parliament to co-legislate in a very limited time frame;

    19. Calls on the Committee on International Trade, as the committee responsible, to recommend the approval of the proposal for a regulation of the European Parliament and of the Council establishing the Ukraine Loan Cooperation Mechanism and providing exceptional macro-financial assistance to Ukraine.

     

     

    LETTER FROM THE COMMITTEE ON FOREIGN AFFAIRS (2.10.2024)

    Mr Bernd Lange

    Chair

    Committee on International Trade

    BRUSSELS

     

     

    Subject:  Opinion on the proposal for a regulation of the European Parliament and of the Council establishing the Ukraine Loan Cooperation Mechanism and providing exceptional macro-financial assistance to Ukraine (COM/2024/426 final) (2024/0234(COD))

     

     

     

    Dear Mr Lange,

     

    Under the procedure referred to above, the Committee on Foreign Affairs has been asked to submit an opinion to your committee. By way of a written procedure, the committee Coordinators decided to send the opinion in the form of a letter. Due to the extreme urgency of the procedure, the committee Coordinators adopted the opinion at their meeting on 30 September 2024.

     

    Yours sincerely,

     

     

     

     

     

    David McAllister

     

     

      

    SUGGESTIONS

     

    The Committee on Foreign Affairs:

     

    1. Expresses its complete solidarity with the people of Ukraine, along with its full support for the independence, sovereignty and territorial integrity of Ukraine within its internationally recognised borders;

    2. Welcomes the commitments of the EU and its Member States to provide humanitarian assistance, military support, economic and financial aid and political support in every possible way until Ukraine’s victory;

    3. Commends the Commission’s proposal to establish the Ukraine Loan Cooperation Mechanism, which contributes to answering Parliament’s call on the EU and its Member States to achieve the broadest possible international support for Ukraine, and builds upon the decision of the Council to direct extraordinary revenues stemming from immobilised Russian state assets to the Ukraine Assistance Fund and the Ukraine Facility as well as upon the G7’s decision to offer Ukraine a USD 50 billion loan secured through immobilised Russian state assets;

    4. Expresses its conviction that the new Ukraine Loan Cooperation Mechanism is a substantive step towards making Russia financially compensate for the massive damage it continues to cause in Ukraine; insists that this should not preclude the establishment of a sound legal regime for the confiscation of Russian state assets frozen by the EU, to be used for the benefit of Ukraine; urges the Commission and the EEAS to step-up their work in that direction;

    5. Acknowledges that the Commission’s proposal is based on the assumption that Russian assets will remain immobilised until Russia definitively and irreversibly ceases its war of aggression against Ukraine.  Therefore urges the Council to adopt swiftly a decision to that effect;

    6. Invites the Commission, when evaluating whether Ukraine has met the precondition set out in Article 11 of the proposal, to apply the same standards it applies when it evaluates whether Ukraine has met the precondition set out in Article 5 of Regulation (EU) 2024/792 on the establishment of the Ukraine Facility; in particular, in its assessment, the Commission shall also take into account the context in Ukraine and the consequences of the application of martial law in Ukraine; invites the Commission to transmit its assessment simultaneously to the European Parliament and to the Council;

    7. Calls on the Commission to ensure that, when it agrees with Ukraine the policy conditions to be set out in the MoU pursuant to Article 12 of the proposal, it is satisfied that Ukraine has complied with (i) the provisions set out in Article 17 of Regulation (EU) 2024/792 and provided all the relevant explanations, as appropriate; and (ii) the qualitative and quantitative steps provided for in Council Implementing Decision (EU) 2024/1447 and its annex. At the same time, calls on the Commission to make sure, when deciding on the release of funds pursuant to Article 13 of the proposal, that its assessment complies with Article 18 of Regulation (EU) 2024/792 and, in particular, takes into account the criteria listed in paragraph 3 thereof, where relevant; urges the Commission, in that context, to make sure that all decisions adopted by Ukraine on the use of the funds allocated to it in the framework of the proposed regulation respect democratic procedures and are supported by meaningful consultations with all relevant institutions and stakeholders, including the Verkhovna Rada of Ukraine, anti-corruption institutions and representatives of the civil society;

    8. Calls on the Commission to transmit the MFA Loan Agreement to the European Parliament as soon as it will be signed;

    9. Requests that the Commission include by default in its yearly report on the implementation of the proposed Regulation a review of the adequacy of the arrangements contained in the Regulation itself.

     

    PROCEDURE – COMMITTEE RESPONSIBLE

    Title

    Establishing the Ukraine Loan Cooperation Mechanism and providing exceptional macro-financial assistance to Ukraine

    References

    COM(2024)0426 – C10-0106/2024 – 2024/0234(COD)

    Date submitted to Parliament

    20.9.2024

     

     

     

    Committee(s) responsible

    INTA

     

     

     

    Committees asked for opinions

     Date announced in plenary

    AFET

    10.10.2024

     

     

     

    Not delivering opinions

     Date of decision

    AFET

    27.9.2024

     

     

     

    Rapporteurs

     Date appointed

    Karin Karlsbro

    30.9.2024

     

     

     

    Simplified procedure – date of decision

    30.9.2024

    Discussed in committee

    14.10.2024

     

     

     

    Date adopted

    14.10.2024

     

     

     

     

    BUDG

    7.10.2024

     

     

     

    Result of final vote

    +:

    –:

    0:

    31

    4

    0

    Members present for the final vote

    Brando Benifei, Lynn Boylan, Udo Bullmann, Raphaël Glucksmann, Bart Groothuis, Céline Imart, Karin Karlsbro, Rihards Kols, Sebastian Kruis, Bernd Lange, Ilia Lazarov, Thierry Mariani, Gabriel Mato, Ştefan Muşoiu, Daniele Polato, Majdouline Sbai, Francesco Torselli, Catarina Vieira, Jörgen Warborn, Iuliu Winkler, Bogdan Andrzej Zdrojewski

    Substitutes present for the final vote

    Mika Aaltola, Dan Barna, Nina Carberry, Anna Cavazzini, Hana Jalloul Muro, Ľubica Karvašová, Marina Mesure, Branislav Ondruš, Pierre Pimpie, Jessika Van Leeuwen

    Members under Rule 216(7) present for the final vote

    Peter Agius, Marie Dauchy, Elio Di Rupo, Virginie Joron

    Date tabled

    15.10.2024

     

    MIL OSI Europe News –

  • MIL-OSI Economics: 611th Meeting of Central Board of the Reserve Bank of India

    Source: Reserve Bank of India

    The 611th meeting of the Central Board of Directors of Reserve Bank of India was held today in Bhubaneswar under the Chairmanship of Shri Shaktikanta Das, Governor. The Board passed a condolence resolution in memory of Shri Ratan N. Tata, a former Director of the Central Board. The Central Board Members also took the Integrity pledge in observance of the ensuing Vigilance Awareness week 2024.

    The Board reviewed the current economic and financial situation, including challenges posed by evolving geopolitical conflicts. The Board also discussed the functioning of various Sub-Committees of the Central Board, the Ombudsman Scheme and activities of select Central Office Departments.

    Deputy Governors Dr. Michael Debabrata Patra, Shri M. Rajeshwar Rao, Shri T. Rabi Sankar, Shri Swaminathan J. and other Directors of the Central Board – Shri Satish K. Marathe, Smt. Revathy Iyer, Prof. Sachin Chaturvedi and Dr. Ravindra H. Dholakia – attended the meeting. Shri Ajay Seth, Secretary, Department of Economic Affairs and Shri Nagaraju Maddirala, Secretary, Department of Financial Services, also attended the meeting.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1308

    MIL OSI Economics –

  • MIL-OSI Security: NAMRU San Antonio highlights Olivia Cruz during National Hispanic Heritage Month

    Source: United States Navy (Medical)

    JOINT BASE SAN ANTONIO-FORT SAM HOUSTON – (Oct. 15, 2024) – National Hispanic Heritage Month marks a time to showcase and honor the many contributions Hispanic Americans have made to the Department of Defense (DoD) and the nation.

    Possessing a diverse workforce is important to NAMRU San Antonio as it acknowledges individual strengths of each Sailor, Soldier, civilian and contractor, and the potential they bring to accomplishing the command’s mission.

    Olivia Cruz, a budget analyst lead assigned to the command’s Resource Management and Acquisitions Directorate (DRMA), is a representation of the highly professional and diverse civilian workforce within Navy Medicine.

    A 2014 graduate of Texas A&M University at San Antonio, Cruz directly supports the allocation and execution of all Research, Development, Test, and Evaluation (RDT&E) and Operation and Maintenance (O&M) funding received by NAMRU San Antonio. This includes performing or advising on work in any of the phases or systems of budget administration of funds required for command programs. Additionally, she serves as the command’s Time and Attendance clerk.

    A San Antonio native, Cruz began her Navy civilian career in 2021 with Naval Medical Forces Development Command serving as the regional labor and budget analyst.

    “At my previous command, I was the only person on board who was born and raised in San Antonio,” said Cruz. “Most of the times, the comptroller would refer newly arriving personnel to me for places in the city to visit and eat. Eventually, I joked with telling people that I was the unofficial San Antonio Chamber of Commerce.”

    According to Cruz, who has been maintaining and executing government budgets for 15 years, there are countless opportunities to serve locally, out of state and even overseas within Navy Medicine.

    “Working for NAMRU San Antonio has provide me with insight on the numerous opportunities available for my son in science research as he begins his journey in biology,” said Cruz, whose goal is to complete her career at the federal level. “When I initially came on board with the command, I didn’t realize that I would be working directly with some of the Navy’s smartest research scientists.”

    “As analysts, we don’t see the type of research that is being conducted. Usually, all we see is the money side,” added Cruz. “Is there funding? Are the funds committed? The list goes on, but we never see the scientists at work.”

    Cruz feels that being able to observe some of the work being done at NAMRU San Antonio enables her to understand how important her role is in the command.

    “Being able to know how my job directly supports research has motivated me to be a more knowledgeable analyst which allows our scientists to efficiently research projects that will essentially save countless lives,” said Cruz. “Our DRMA team doesn’t allow setbacks and limited staff to stop us from hindering our scientists from their research mission.”

    Perseverance is one of Cruz’s strengths.

    “I have always persevered; however, working for the Navy has instilled in me the motivations to keep going even if I feel that I am not performing to my personal standards,” said Cruz. “However, I have the great opportunity of working with so many diverse personalities and professionals from whom I continue to learn from. They have shown me that there is more for me to learn and how to overcome challenges.”

    Continuing to listen, learn, and apply shared knowledge from others has enhanced Cruz’s importance of her role as an analyst with NAMRU San Antonio. In the future, she wants to share her knowledge with others to guide and help make them better in their profession.

    NAMRU San Antonio’s mission is to conduct gap driven combat casualty care, craniofacial, and directed energy research to improve survival, operational readiness, and safety of DoD personnel engaged in routine and expeditionary operations.

    NAMRU San Antonio is one of the leading research and development laboratories for the U.S. Navy under the DoD and is one of eight subordinate research commands in the global network of laboratories operating under the Naval Medical Research Command in Silver Spring, Md.

    MIL Security OSI –

  • MIL-OSI: JCS Solutions CEO Selected as a Cyber50 Executive for the First Time

    Source: GlobeNewswire (MIL-OSI)

    FAIRFAX, Va., Oct. 16, 2024 (GLOBE NEWSWIRE) — JCS Solutions LLC, a premier provider of cybersecurity and technology services, today announced that its Founder and CEO, Raji Bezwada, has been named a Cyber50 Executive by the Northern Virginia Technology Council. The Cyber50 Awards are highly coveted in the cybersecurity landscape, honoring the forward-thinking leaders and innovators who are breaking the mold and pushing the envelope of what’s possible in the industry.

    “Federal agencies are on a noble mission when it comes to cybersecurity, as they’re wholly committed to protecting our nation’s people, critical infrastructure, data and beyond. We match the determination of our federal customers and support them every step of the way,” said Raji Bezwada, CEO of JCS. “I attribute my success and that of the company to the wonderful team we’ve built here at JCS. Their dedication and hard work never cease to amaze me, and I thank them for that every day.”

    Bezwada founded JCS in 2014, and in doing so, created an approachable, inclusive and encouraging workplace culture where she ensures employees feel engaged and valued. Her leadership extends beyond the office walls to the broader community, serving as a mentor, volunteer, and a Board of Director of TiE DC, a nonprofit dedicated to nurturing the next generation of entrepreneurs.

    To view the full list of Cyber50 Award winners, please visit NVTC.

    About JCS Solutions
    JCS is a premier federal technology services firm specializing in innovative digital transformation, cybersecurity operations, and threat mitigation solutions that elevate and secure customer missions. The company is recognized for its deep expertise, top workplace, and mature operations. It is rated Level 3 for CMMI-DEV and CMMI-SVC and holds ISO 9001, ISO/IEC 20000-1 and ISO/IEC 27000-1 certifications. The 8(a) WOSB is headquartered in Fairfax, Virginia. jcssolutions.com

    Contact:
    Josette Oder-Moynihan
    josette@boscobel.com
    703-869-4403

    The MIL Network –

  • MIL-OSI: POET Wins “Best in Artificial Intelligence” Honors at 2024 Global Tech Awards

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 16, 2024 (GLOBE NEWSWIRE) — POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; NASDAQ: POET), the designer and developer of the POET Optical Interposer™, Photonic Integrated Circuits (PICs) and light sources for the data center, tele-communication and artificial intelligence markets, has been named the winner of the “Best in Artificial Intelligence” category at the prestigious 2024 Global Tech Awards, announced on October 14. The honor is the third top prize the Company has received in 2024, following recognition by the AI Breakthrough Awards for “Best Optical AI Solution” and the Gold Prize for “AI Innovator of the Year” from the Merit Awards.

    POET Technologies was chosen as the Best in the Artificial Intelligence category due to “its innovative approach to powering AI networks and hyperscale data centers.” “POET’s commitment to improving the performance and scalability of AI infrastructure sets it apart as a leader in the industry,” commented Sirisha Lanka, Managing Director of the Global Tech Awards. Founded in 2022, the awards’ mandate is to “recognize and celebrate excellence in technology.” Among the judges were executives from enterprises such as Amazon, Microsoft, and Oracle. 

    “We’re thrilled to be recognized by industry experts who acknowledge the groundbreaking nature and positive commercial impacts of the POET Optical Interposer™ platform technology and the growing suite of products we are building from it,” said Dr. Suresh Venkatesan, POET Chairman & CEO. “Winning the Best in Artificial Intelligence honor from the Global Tech Awards is another stellar indication of why an increasing number of the leading companies in our industry are turning to POET for solutions that will help them grow their market share and assist them in developing new products that address the demand for AI networking and data center connectivity.”

    About POET Technologies Inc.
    POET is a design and development company offering high-speed optical modules, optical engines and light source products to the artificial intelligence systems market and to hyperscale data centers.  POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET’s Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems.  POET’s Optical Interposer platform also solves device integration challenges in 5G networks, machine-to-machine communication, self-contained “Edge” computing applications and sensing applications, such as LIDAR systems for autonomous vehicles.  POET is headquartered in Toronto, Canada, with operations in Allentown, PA, Shenzhen, China, and Singapore.  More information about POET is available on our website at http://www.poet-technologies.com.

    About Global Tech Awards
    The Global Tech Awards is a prestigious platform that recognizes and celebrates the very best in technology. With a focus on innovation creativity and excellence, the Global Tech Awards aims to identify and reward the most exceptional technology solutions and services from around the world. The awards are open to businesses, organizations and individuals who are creating and delivering innovative technologies that are driving progress and shaping the future. If you are developing cutting-edge technology and want to showcase your achievements to the world, consider entering the Global Tech Awards today. http://www.globaltechaward.com


    Forward-Looking Statements
    This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding any potential outcome. Such statements include the Company’s expectations with respect to the success of the Company’s product development efforts, the performance of its products, the expected results of its operations, meeting revenue targets, and the expectation of continued success in the financing efforts, the capability, functionality, performance and cost of the Company’s technology as well as the market acceptance, inclusion and timing of the Company’s technology in current and future products and expectations regarding its successful penetration of the Artificial Intelligence hardware markets.

    Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, the size, future growth and needs of Artificial Intelligence network suppliers, management’s expectations regarding the success and timing for completion of its development efforts, the introduction of new products, financing activities, future growth, recruitment of personnel, reorganization efforts, plans for and completion of projects by the Company’s consultants, contractors and partners, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, the failure of Artificial Intelligence networks to continue to grow as expected, the failure of the Company’s products to meet performance requirements for AI and datacom networks, lack of sales in its products, lack of sales by its customers to end-users, operational risks in the completion of the Company’s projects, risks affecting the Company’s ability to complete its products, the ability of the Company to generate sales for its products, the ability of its customers to generate sales for products that incorporate the Company’s products, the ability to attract key personnel, the failure of its reorganization efforts and the ability to raise additional capital when needed. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
    120 Eglinton Avenue, East, Suite 1107, Toronto, ON, M4P 1E2- Tel: 416-368-9411 – Fax: 416-322-5075

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/96c01282-3fb8-4e31-b9b1-b8c12e73564d

    The MIL Network –

  • MIL-OSI Africa: GITEX GLOBAL 2024: Artificial Intelligence (AI) revolution unveiled to the world on “AI Super Tuesday”

    Source: Africa Press Organisation – English (2) – Report:

    DUBAI, United Arab Emirates, October 16, 2024/APO Group/ —

    • International exhibitors presented the most groundbreaking innovations helping shape the future of society and industry
    • “Cybersecurity Day” next up as world’s largest and best-rated tech event reaches halfway stage on Wednesday

    Hot on the heels of a memorable first day where GITEX GLOBAL 2024 (http://apo-opa.co/4hlR7gj) opened the doors for its biggest-ever international edition, the entire global tech ecosystem experienced another action-packed agenda on Tuesday at Dubai World Trade Centre (DWTC).

    Taking place from 14-18 October, GITEX GLOBAL presents a record-breaking edition in its 44th year – welcoming over 6,500 exhibitors, 1,800 startups, 1,200 investors alongside governments from more than 180 countries.

    With five themed days locked in across the 2024 event programme, a technology taking the world by storm was the focal point as “AI Super Tuesday” presented the most groundbreaking innovations helping shape the future of society and industry.

    A technology with vast transformative potential

    As AI takes centre stage in drug discovery, the world could soon witness the most significant shift in medicine since the advent of modern pharmaceuticals. But with such rapid advancements, a mesmerising Tuesday session – ‘The Next Leap in Medicine: Are we on the Edge of a Breakthrough?’ – saw experts discuss whether AI transformation is fast approaching or further away than some anticipate.

    Dr. Shameer Khader, Global Head and Executive Director – Computational Biology Cluster, Precision Medicine and Computational Biology at global pharmaceutical company Sanofi, gave AI an emphatic endorsement. He said: “Drug discovery on average takes 10-15 years and one project around $1.5-2 billion in cost. Is that something sustainable? The model must change, and we should harness AI capabilities and value across the ecosystem. We should optimise every single process to reduce development costs, streamline the drug discovery lifestyle, and build data disease models and infrastructure.”

    In a special case study, audiences became acquainted with ‘BabyX’ – an interactive simulation of a lifelike infant through AI. This virtual animated baby learns and reacts like a human infant with a built-in virtual brain with detailed likeness to that of a human. Functioning through biological AI and an operating system called Brain Language, stimulated neurochemical reactions help BabyX decide how she will react – something that could prove revolutionary in the future AI economy.

    Elaborating on the significance of BabyX, Dr. Mark Sagar, its creator who co-founded New Zealand-based Soul Machines, pointed out the defining difference between human and AI intelligence, adding: “As humans, we learn from a young age though exploring the world and experimenting. Play is such a key part of making intelligence open-ended and inventive, but it’s one thing what’s missing from current AI. If we’re ever going to regulate general AI intelligence, we need to build cognitive architecture that yields intelligent behaviour through a comprehensive approach.”

    A catalyst for forward-facing collaboration

    Alongside the profound transformative potential of AI, GITEX GLOBAL’s status as a catalyst for collaboration and forward-facing projects was on full display. A number of exciting high-profile partnerships were officially unveiled at the world’s largest and best-rated tech event, with one involved KAOUN – the world-leading organiser of business events and trade fairs, leading all GITEX events outside the UAE.

    Tuesday saw KAOUN sign a Memorandum of Understanding with the Digital Dubai Authority to grow the GITEX ecosystem, support Dubai’s internationalisation strategy, and explore new partnership opportunities. Additionally, AWS and e& entered into a $1 billion-plus agreement as part of new strategic alliance to deliver cloud solutions and supporting AI deployment and digital transformation across the region. 

    Tuesday casts spotlight on AI’s cross-sector impact and demands

    Elsewhere on the Super AI Tuesday agenda, another applauded show illustrated how high-performance computing is steering humanity’s quest for the next generation of aircraft. During ‘Quantum Maturation: Introducing The “Quantum Mobility Quest”’, companies were urged to move beyond the physical limits of present-day computing today and scale up future-focused solutions to unlock aviation’s vast potential.

    Isabell Gradert, Vice President of Central Research & Technology, Airbus, Germany, said: “Aviation is embedded in the tapestry of our global-leading industries and is one with the highest computation needs. Quantum computing is seen as the next big gamechanger in the aviation industry and has the potential to solve the most complex aerospace challenges and create a paradigm shift in the way aircrafts are built and flown. This is a very exciting time.”

    Additionally, audiences familiarised themselves with a wide of services and solutions being showcased by GITEX GLOBAL exhibitors. UAE-based Presight, the region’s leading big data analytics company powered by generative artificial intelligence (AI), unveiled its Intelli Platform, an AI-powered management and operations platform that lets cities, transport, energy, and infrastructure organisations immediately use Generative AI.

    AWS also cast a spotlight on AWS Bedrock, a fully managed service that enables enterprises to easily build, customise, and deploy generative AI applications using foundation models from top AI providers, all through the AWS platform.

    GITEX GLOBAL 2024 continues Wednesday as “Cybersecurity Day” welcomes an ensemble cast of thought leaders and experts to explore the emerging threats landscape, counter-infringement strategies, and tools organisations require in an increasingly digital world.

    GITEX Editions (https://apo-opa.co/4h8xBn9) also presents Intelligent Connectivity (https://apo-opa.co/4hayjAy) with visitors set to explore how industry leaders can bridge digital divides and harness emerging technology to drive innovation and economic growth. The World Future Economy Digital Leaders Summit (https://apo-opa.co/4hlR8kn) also continues with another star-studded cast of world-renowned experts and innovative minds.  

    GITEX GLOBAL is seamlessly connecting with the world’s largest network of tech events, including GITEX EUROPE Berlin, GITEX ASIA Singapore, GITEX AFRICA Morocco, and GITEX NIGERIA. These events are fostering collaboration and driving innovation to shape the tech landscape of tomorrow.

    More information on GITEX GLOBAL, please visit http://www.GITEX.com

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Salford to benefit from £1.6m of brownfield land funding

    Source: City of Salford

    Salford City Council has been awarded £1,615,000 of Brownfield Land Release Fund money to help transform Swinton.
     
    The money will be spent on demolishing the former site at St Ambrose Barlow High School in Swinton and the fund will also allow for enabling works, land remediation and ground works. 
     
    Councillor Jack Youd, Deputy City Mayor and Lead Member for Finance, Support Services and Regeneration at Salford City Council said: “The award of the money after our bid is great news for Swinton.
     
    “Council officers are now working to secure a demolition contract, which needs to be in place by the end of March 2025 to meet the funding requirements.”
     
    The project has been funded by HM Government through the Brownfield Land Release Fund.
     
    The One Public Estate programme is a partnership between the Office of Government Property in the Cabinet Office, the Local Government Association and the Ministry of Housing, Communities and Local Government (MHCLG). It provides practical and technical support and funding for public sector partners to deliver ambitious property-led programmes in collaboration.
     
    Read more about a vision for Swinton’s future.

    Share this

    Date published
    Wednesday 16 October 2024

    Press and media enquiries

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Global travel and tourism deal activity down by 11% YoY during Q1-Q3 2024, finds GlobalData

    Source: GlobalData

    Global travel and tourism deal activity down by 11% YoY during Q1-Q3 2024, finds GlobalData

    Posted in Business Fundamentals

    A total of 519 deals (comprising mergers and acquisitions (M&A), private equity, and venture financing deals) were announced in the travel and tourism sector globally during January to September (Q1-Q3) 2024, which was a year-on-year (YoY) decline of 11% over 583 deals announced during the same period in the previous year, according to GlobalData, a leading data and analytics company.

    An analysis of GlobalData’s Deals Database also revealed that the volume of M&A deals decreased by 6.8% during Q1-Q3 2024 compared to the same period in 2023, while the number of venture financing deals was down by 25.2% YoY. Meanwhile, private equity deals volume remained unchanged.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The decline in global travel and tourism deal activity was mostly driven by a significant fall  in deals volume in some regions and countries, while deal activity remained relatively better for some other regions and countries. In fact, some regions and countries even showcased double-digit growth in deal volume, which seems to be an indication of improving deal-making sentiments.”

    North America, Asia-Pacific, and South and Central American regions experienced decline in deal volume by 36%, 7.7%, and 20% during Q1-Q3 2024 compared to Q1-Q3 2023. In contrast, Europe registered 10.3% YoY improvement in deal activity. Meanwhile, deal volume for the Middle East and African region mostly remained at the same level.

    Similarly, the trend across different countries also remained a mixed bag. The US, China, and France witnessed YoY decline in deal volume by 36.3%, 38.5%, and 42.9%, respectively, during Q1-Q3 2024, whereas India and Japan experienced respective deal volume improve by 24.3% and 38.1% YoY. Meanwhile, deal volume for the UK, South Korea, and Australia mostly remained at the same level.

    Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Hong Kong ranks as the world’s freest economies

    Source: Hong Kong Government special administrative region

         The Fraser Institute published the Economic Freedom of the World 2024 Annual Report (2024 Report) today (October 16). Hong Kong ranks as the world’s freest economies among 165 economies, up by one place from last year. Among the five areas of assessment in the 2024 Report, Hong Kong ranks top in “Freedom to trade internationally” and “Regulation”, and its ranking in “Sound money” rises to third globally. 
          
         A spokesman for the Hong Kong Special Administrative Region (HKSAR) Government said, “For long, Hong Kong has fully leveraged the advantages of a free market, and maintained a free, open, effective and fair business environment. The ranking fully reflects the international recognition of these advantages.”
          
         “Hong Kong’s free market and premier business environment are attributable to our distinctive institutional strengths of the ‘one country, two systems’ arrangement, including the practice of the common law system, robust rule of law, a judiciary that exercises powers independently, free flow of goods and factors of production such as capital, talent, and information, a simple tax system and low tax rates, a conducive business environment as well as efficient and transparent markets, a regulatory regime that adheres to international standards, among others. These factors have made Hong Kong an ideal city for doing business.
          
         “Indeed, over 9 000 overseas and Mainland companies have chosen Hong Kong as their base to fully leverage Hong Kong’s roles and functions as a ‘super connector’ and a ‘super value-adder’. The current-term HKSAR Government has been proactively attracting enterprises to settle in Hong Kong and talent to come to Hong Kong for development, and the response has been overwhelmingly positive. Since the end of 2022, more than 100 prominent innovation and technology enterprises from around the world have decided to establish or expand their businesses in Hong Kong. These enterprises would invest a total of more than $50 billion in the city, creating more than 15 000 jobs. In the first nine months this year, Invest Hong Kong also assisted 470 Mainland and overseas enterprises to establish or expand their businesses in Hong Kong, up by around 57 per cent from the same period last year. In terms of attracting talent, from the end of 2022 to September this year, over 380 000 applications were received under various talent schemes, of which nearly 240 000 were approved, and around 160 000 people have arrived in Hong Kong. These figures underscore Hong Kong’s strong appeal to both overseas and Mainland enterprises and talent.
          
         “Looking forward, with the staunch support of the country, we will proactively integrate into the overall national development, align with national development strategies, maintain and improve a free and open business environment, and continue to serve as a two-way springboard for attracting international enterprises to Hong Kong and supporting Mainland enterprises to ‘go global’. The Policy Address delivered by the Chief Executive today has set out clear directions, as well as specific and impactful policies and measures to reinforce and enhance Hong Kong’s status as an international financial, shipping and trading centre, build itself into an international hub for high-calibre talent, develop new quality productive forces tailored to local conditions, and foster collaboration with the Greater Bay Area, so as to further enhance Hong Kong’s development momentum, and promote the high-quality development of Hong Kong’s economy.
          
         As to references on Hong Kong’s economic and other freedoms in the 2024 Report, the spokesman emphasised, “The HKSAR Government protects the rights and freedoms of Hong Kong residents in strict accordance with the Constitution and the Basic Law, and the interests of enterprises and investors are also fully safeguarded in accordance with the law. According to various surveys, foreign businesses in Hong Kong generally have confidence in Hong Kong’s rule of law. The HKSAR Government hopes that future assessments in Economic Freedom of the World can fully reflect the relevant facts.”

    MIL OSI Asia Pacific News –

  • MIL-OSI Global: Pobol y Cwm: BBC’s longest running TV soap celebrates 50 years on air

    Source: The Conversation – UK – By Jamie Medhurst, Professor of Film and Media, Aberystwyth University

    “We had a special kind of audience in mind: the Welsh who have never read Barn or Y Faner (two popular Welsh-language publications written in a scholarly tone) but live their lives every day in the natural sound of the Welsh language.” That’s how dramatist Gwenlyn Parry described the target audience of the new BBC Wales soap opera, Pobol y Cwm, which was broadcast for the first time 50 years ago ago, on October 16 1974.

    Pobol y Cwm – which means “people of the valley” – is set in the fictional village of Cwmderi, in the Gwendraeth valley, south-west Wales. It was originally filmed at Broadway Studios in Cardiff, then on a purpose-built lot at BBC Broadcasting House, also in the Welsh capital. But since 2011, the programme has been mainly filmed at the BBC’s drama studios at Roath Lock in Cardiff Bay.

    BBC Wales’ television service had been in existence for ten years by the time the series was broadcast. Television producer John Hefin felt there was a need for a long drama series in Welsh, which would meet the needs of audiences in the same way as Coronation Street had been doing on ITV since 1960.

    Hefin and Parry’s vision was evident. In planning meetings for the series, it was noted that “the main aim of the series is pure entertainment and from a mathematical analysis it will require 70% easy, humorous lightness, and 30% personal and social problems”.

    Other guidelines for the series were clear from the start – no preaching about the state of the Welsh language, the evils of drugs, the dangers of sex, or theological dogma. The main aim was to “develop a story line full of seemingly insignificant events but conveying a believable whole of Welsh village life”.

    The Welsh language soap first began on BBC One Wales in October 1974 before moving to S4C in 1982, where it continues to this day.

    Soap history

    Soap operas can be traced back to the early days of US radio, when drama series were sponsored by washing powder manufacturers, hence the word “soap”. The BBC launched drama series, or soap operas, on the radio after the end of the second world war. Examples include Mrs Dale’s Diary in 1948 and, of course, The Archers in 1951.

    But audiences had to wait until 1954 until the first soap opera was launched on the BBC’s television service, The Grove Family. But the life of this series was short-lived, ending in 1957.

    In December 1960, ITV Granada launched Coronation Street, a series about everyday street life in the Manchester area. It soon became extremely popular among viewers across Britain. The appeal of the series was in its simplicity. It focused on the normal lives of working class people. The plot was derived from the setting and personalities, especially the strong female characters.

    Tony Warren was the man who sold the idea of Coronation Street to the Granada company. He realised, at the end of the 1950s, that the way of life in that part of England was changing. Warren wanted to capture and preserve traditional spirit and show it to the rest of the country.

    I wonder, then, when proposing an idea for a soap opera to the BBC at the beginning of the 1970s, whether Hefin and Parry had the same feeling. The Wales of the time was changing, after all. The 1971 census showed that the Welsh language was under siege.

    It was felt by many within the BBC that a series reflecting old Welsh values was needed. And yet it also needed to be contemporary, with an element of realism. This is the trick for successful soap opera producers – the series must be “real” enough so that people can believe in the characters, and can identify with them in times of joy and sadness.

    Pobol y Cwm was a success from the outset, and that continued throughout the 1970s and 1980s. When musician John Lennon died in December 1980, a film about the Beatles was broadcast on BBC Wales as a tribute instead of Pobol y Cwm. It resulted in hundreds of loyal soap opera viewers flooding the switchboard of Broadcasting House in Cardiff with complaints.

    The BBC also received complaints that there were too many scenes taking place in the pub because this was not a “Welsh” thing to do. And yet, according to Parry, there were no complaints when a scene was shown with one of the main characters, Reg Harries, having an affair with the schoolmaster’s wife in the early 1980s.

    Famous faces

    Pobol y Cwm has nurtured the talent of several actors who have become more widely known. Among them Ioan Gruffudd, Iwan Rheon and Alexandra Roach. And several other celebrities have made cameo appearances in the series over the years, including actor Michael Sheen, presenter Michael Aspel and wrestler Giant Haystacks.

    In an article in the Welsh newspaper Y Cymro in 1975, Parry said: “The aim was to produce stuff that a natural Welsh person would watch, not because it was in Welsh, but because it was entertaining. The kind of stuff that will be needed to draw viewers to the fourth channel when it comes.”

    Still produced by BBC Wales, the series moved to Wales’ new fourth channel, S4C, in 1982 and the viewers followed. It remains among the channel’s most popular programmes.


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

    Jamie Medhurst has received funding from the Arts and Humanities Research Council, the British Academy, and the Leverhulme Trust.

    – ref. Pobol y Cwm: BBC’s longest running TV soap celebrates 50 years on air – https://theconversation.com/pobol-y-cwm-bbcs-longest-running-tv-soap-celebrates-50-years-on-air-241390

    MIL OSI – Global Reports –

  • MIL-OSI Global: Vive L’impressionnisme! at the Van Gogh Museum: a compelling, eco-conscious celebration of impressionism

    Source: The Conversation – UK – By Frances Fowle, Personal Chair of Nineteenth-Century Art, History of Art, University of Edinburgh

    Despite its corny title, Vive L’Impressionnisme!, which recently opened at the Van Gogh Museum in Amsterdam, is well worth seeing. Marking the 150th anniversary of the first impressionist exhibition, the show tells the story of how one of the movement’s founders, Claude Monet, and his contemporaries were supported by a few enlightened Dutch collectors and their pictures absorbed into Dutch institutions.

    It brings together numerous works that are rarely, if ever, seen together, assembled from ten museums and seven private collections across the Netherlands. The result is a fascinating reflection of Dutch taste over the past century and a half.

    Vive L’Impressionnisme! is cleverly curated. The exhibition is arranged thematically, with landscapes on the first floor and modern life paintings on the upper level. The potential monotony of a continuous hang on a long wall is avoided by the introduction of sculpture, as well as aesthetic “ensembles” of paintings or works on paper.

    Upstairs, the normally cavernous exhibition space is divided into discrete rooms, in order to allow the visitor a more intimate viewing experience. Among the most remarkable aspects of the show is the decision to display paintings, sculpture and works on paper side-by-side. It’s a democratisation of art that mimics the way the impressionists themselves exhibited their work.

    On one wall you can see four states of Camille Pissarro’s etching The Old Cottage (1879), three of which were exhibited at the fifth impressionist exhibition in 1880. In each successive state, Pissarro observes the way in which the cottage and surrounding landscape are affected by the changing light and atmosphere, anticipating Monet’s later series paintings. In both oil painting and printmaking, these artists privileged experimental techniques and the analysis of light and colour over academic finish.

    In the second half of the 19th century, Dutch collectors and critics were more attuned to the overcast skies and earthy tones of the local Hague School painters than to the broken brushwork and high-keyed palette of impressionism. The new art was dismissed by critics as the “ravings of madmen, drunks and children”.

    Encouraged by his brother Vincent, Theo van Gogh’s efforts to sell impressionist art via the Goupil Gallery in the Hague were sadly thwarted. However, he did influence his wealthy brother-in-law, Andries Bonger, who became the first Dutch collector to develop a taste for the work of Paul Cézanne. Dutch lawyer Cornelis Hoogendijk also acquired around 25 Cézanne works before 1900, while another pioneer collector, Helene Kröller-Müller, specialised in the work of Van Gogh as well as the impressionists.



    Read more:
    Van Gogh Museum at 50: Vincent van Gogh and the art market – a brief history

    As the exhibition unfolds, visitors learn that, while Monet’s landscapes were greatly admired by the Dutch, the figurative work of Edgar Degas was less appreciated.

    Monet, a pupil of the Dutch artist Johan Jongkind, travelled more than once to the Netherlands. In 1871, he painted the Windmills Near Zaandam on an overcast day, and was delighted to make a sale. His Portrait of Miss Guurtje van de Stadt was acquired by a wealthy timber merchant and became the first impressionist work to enter a Dutch private collection. Returning for a last visit in 1886, Monet painted the more strident Tulip Fields Near the Hague, this time clearly with an eye for the market.

    Early acquisitions

    The first impressionist work to enter a public collection in the Netherlands was, perhaps unsurprisingly, another work by Monet. La Corniche Near Monaco (1884) was donated to the Rijksmuseum in 1900 by Baroness Van Lynden-Van Pallandt.

    Painted at Cap Martin on the French Riviera, it is remarkable for the bold orange scar of road that bisects the canvas, leading the eye towards the brooding blue-and-violet cliffs in the distance. This warm Mediterranean scene is flanked by two Monet canvases evoking the cooler atmosphere of the Normandy coast: Cliffs Near Pourville (1882) and Fisherman’s Cottage, Varengeville (1882).

    While Monet’s paintings are well-represented in the exhibition, along with oils by Pissarro, Cézanne, Pierre-Auguste Renoir, Alfred Sisley, Gustave Caillebotte and others, some artists are represented only by works on paper. Astonishingly not a single oil painting by Degas has found itself into a Dutch collection, either private or public. Édouard Manet, too, is virtually absent from the exhibition.

    Female artists were predictably underappreciated, or perhaps unavailable on the market. In recent years, the Van Gogh Museum and other Dutch institutions have tried to rectify that imbalance, though the market price for impressionism continues to rise, making new aquisitions a challenge.

    The exhibition includes recent purchases of works by pioneering female impressionist painters Berthe Morisot and Mary Cassatt. And there are also several gems from private collections, such as an exquisite Little Bowl with Parsley by Eva Gonzalès and decorative plates by Marie Bracquemond.

    The exhibition is aesthetically beautiful and intellectually compelling. It also delivers a sound environmental message, demonstrating that it is possible to create world-class exhibitions without flying works of art across the globe.

    Those pictures that were once in Dutch hands but later left the country are reproduced virtually, and lamented in the final section of the exhibition, titled Boulevard of Broken Promises. It provides a fascinating and thought-provoking coda to the show.

    Vive L’impressionnisme! Masterpieces from Dutch Collections will be on show at the Van Gogh Museum, Amsterdam until January 26 2025.


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

    Frances Fowle 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. Vive L’impressionnisme! at the Van Gogh Museum: a compelling, eco-conscious celebration of impressionism – https://theconversation.com/vive-limpressionnisme-at-the-van-gogh-museum-a-compelling-eco-conscious-celebration-of-impressionism-241395

    MIL OSI – Global Reports –

  • MIL-OSI Global: High-potency cannabis use leaves a distinct mark on DNA – new research

    Source: The Conversation – UK – By Marta Di Forti, Clinician Scientist MRC Research Fellow, King’s College London

    People who use cannabis with THC of 10% or more are five times more likely to develop a psychotic disorder compared to those who don’t use the drug. Canna Obscura/ Shutterstock

    Cannabis is one of the most commonly used drugs in the world. Yet there’s still much we don’t know about it and what effects it has on the brain – including why cannabis triggers psychosis in some people who use the drug. But our recent study has just brought us closer to understanding the biological impact of high-potency cannabis use.

    Published in the journal Molecular Psychiatry, our study demonstrates that high-potency cannabis leaves a distinct mark on DNA. We also found that these DNA changes were different in people experiencing their first episode of psychosis compared to users who’d never experienced psychosis. This suggests looking at how cannabis use modifies DNA could help identify those most at risk of developing psychosis.

    The amount of THC (Delta-9_tetrahydrocannabinol), the main ingredient in cannabis that makes people feel “high”, has been steadily increasing since the 1990s in the UK and US. In Colorado, where the drug is legal, it’s possible to buy cannabis with 90% THC. While THC is one of over 144 other chemicals found in the cannabis plant, it’s the primary compound used to estimate the potency of cannabis.

    Many studies have shown that the greater the THC concentration, the stronger the effects on the user. For example, research has found that people who use high-potency cannabis (with THC of 10% or more) daily are five times more likely to develop a psychotic disorder compared to people who have never used cannabis.

    Psychotic disorders associated with daily use of high-potency cannabis often manifest through a range of symptoms. These can include auditory hallucinations (hearing voices that others cannot hear), delusions of persecution (feeling the target of a conspiracy without evidence) and paranoia (perceiving the environment as hostile and interpreting interactions suspiciously). These are all very distressing and disabling experiences.



    Read more:
    Cannabis: how it affects our cognition and psychology – new research

    Our study aimed the explore the mark that current cannabis use leaves on the DNA. We also wanted to understand if this mark is specific to high-potency cannabis use – and if this might help to identify those users at greater risk of experiencing psychosis.

    To do this, we examined the effects of cannabis use on an molecular process called DNA methylation. DNA methylation is a chemical process that regulates gene activity by turning genes on or off and controlling how genes are expressed without changing the structure of the DNA itself. DNA methylation is just one of the many mechanisms that regulate gene activity and are part of an important biological process known as epigenetics. Epigenetics underpin the interplay between our environment, the lifestyle choices we make (such as using cannabis or exercising) and our physical and mental health.

    While previous studies have investigated the impact of lifetime cannabis use on DNA methylation, they haven’t explored what effect regular use of different cannabis potencies has on this process. Nor have they explored how this affects with people who have psychosis.

    Our study combined data from two large first case-control studies: the Genetic and Psychosis study, which was conducted in south London, and the EU-GEI study, which included participants from England, France, the Netherlands, Italy, Spain and Brazil. Both of these studies collected data on people experiencing their first episode of psychosis and participants who had no health problems and represented the local population.

    High-potency cannabis use alters DNA methylation in genes related to energy and immune system functions.
    Oleksandrum/ Shutterstock

    In total, we looked at 239 people who were experiencing their first episode of psychosis and 443 healthy volunteers. Around 65% of participants were male. Participants ranged in age 16-72. All participants provided information on their cannabis use, as well as DNA samples from their blood.

    Around 38% of participants were using cannabis more than once a week. Of those who had used cannabis, the majority had been using high-potency cannabis more than once a week – and had started when they were around 16 years old.

    Analyses of DNA methylation were then performed across multiple parts of the whole genome. The analysis took into account the potential impact of several biological and environmental confounders that may have affected the results – such as age, gender, ethnicity, tobacco smoking and the cellular makeup of each blood sample.

    DNA signature

    Our findings revealed that using high-potency cannabis alters DNA methylation – particularly in genes related to energy and immune system functions. This was true for participants who had used high-potency cannabis. However, people who had experienced psychosis had a different signature of alteration in their DNA.

    These epigenetic changes show how external factors (like drug use) can alter how genes work. Very importantly, these changes were not explained by tobacco – which is usually mixed into joints by many cannabis users, and is known to alter DNA methylation.

    This finding also highlights epigenetic changes as a potential link between high-potency cannabis and psychosis. DNA methylation, which bridges the gap between genetics and environmental factors, is a key mechanism that allows external influences (such as substance use) to impact gene activity. By studying epigenetic changes, researchers may be able to develop a greater understanding on how cannabis use – particularly high-potency types – can influence specific biological pathways. This may in turn help us understand why some cannabis users are at increased risk of psychosis.

    We hope that our findings will help scientists to better understand how cannabis use can affect the body’s biology. Future research should now investigate whether the DNA methylation patterns associated with cannabis use can serve as biomarkers to identify users at higher risk of developing psychosis. This could lead to more targeted prevention strategies and inform safer cannabis use practices.

    Emma Dempster receives funding from MRC, NIHR, ARUK.

    Marta Di Forti 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. High-potency cannabis use leaves a distinct mark on DNA – new research – https://theconversation.com/high-potency-cannabis-use-leaves-a-distinct-mark-on-dna-new-research-241384

    MIL OSI – Global Reports –