NewzIntel.com

Category: Business

  • MIL-OSI Economics: The Wall Elevates Art and Technology at Venice Biennale

    Source: Samsung

    Samsung Electronics added a new dimension to cinematic storytelling with The Wall Micro LED display at this year’s world famous Venice Biennale Art Festival.
     
    At the festival, The Wall Micro LED is showcasing director Marco Perego’s latest film Dovecote, starring Zoë Saldaña. Dovecote is a poignant film about a woman’s emotional journey as she leaves the prison and the deep bonds she formed with fellow inmates.
     
    The screenings, scheduled until the close of the festival on November 24, take place in a unique setting at the Vatican’s official pavilion located in the Giudecca women’s prison. This venue adds layers of emotional depth to the film as it is also where the piece was filmed, heightening the themes of freedom, belonging and resilience.
     
    ▲ The Giudecca Women’s Prison, the filming location and venue for the screening of Dovecote
     
     
    Unparalleled Visual Artistry With The Wall
    Renowned for its celebration of artistic expression, the Venice Biennale became a stage for technological innovation with Samsung Electronics’ involvement this year. Perego’s Dovecote demanded a display capable of capturing its emotional intricacies, including the strong bonds formed between the inmates and the isolation they endure. The superior color accuracy and contrast of The Wall made it the ideal choice.
     
    
     
    The collaboration between Perego and Samsung was a natural fit. Samsung Electronics provided advanced display technology and technical support from installation to execution, ensuring the visual depth intended by the director.
     
     
    Groundbreaking Micro LED Technology Elevates Visual Art to New Heights
    Samsung Electronics’ cutting-edge Micro LED technology was selected to showcase Perego’s Dovecote. The Wall’s 1.2mm pixel pitch IWA model was chosen for its ability to immerse viewers in the film’s delicate visual nuances.
     
    ▲ Film director Marco Perego viewing a screening of Dovecote
     
    With Samsung’s The Wall, Perego was able to realize his artistic vision, presenting his film with the superior display needed to convey the precise hues and contrasts achieved during the color grading process. The immersive experience enabled by Samsung’s display technology was key to the film’s success in captivating artists, curators and art enthusiasts worldwide.
     
    “The most important thing after you finish a film is how you show this film,” said Perego, following the premiere on August 17. “Thanks to the collaboration with Samsung, we were capable of really bringing out the right color and the right contrast to achieve the emotional impact I envisioned for the film.”
     
    The Wall’s Micro LED technology delivers deep blacks and amazing contrast, intensifying the emotional weight of each scene while fully immersing viewers in the film’s themes and the performances of Saldaña and the cast.
     
    ▲ Samsung Electronics team alongside director Marco Perego and actor Zoë Saldaña
     
    This collaboration stemmed from Samsung’s long-standing relationships with Hollywood industry professionals, including previous work with the Cinema LED Onyx. Originally shot at 23.98 frames per second in cinema color spaces, the teams worked together to seamlessly integrate Dovecote‘s cinematic elements with The Wall’s advanced display technology, pushing the boundaries of traditional screens.
     
    “The Wall’s Micro LED technology resulted in a collaboration that delivered a screening with all of the elements great for the art industry,” said Paul Maloney, Head of Hardware Tech Consulting, Europe Display Office, Samsung Electronics. “For Samsung, it has been an honor to have supported Marco Perego’s film and achieve the artistic vision he had imagined.”
     
    ▲ Director Marco Perego with Paul Maloney, Head of Hardware Tech Consulting, Europe Display Office, Samsung Electronics during the Dovecote screening
     
    “We are incredibly proud to contribute to this unique project,” said Ben Holmes, Director of Display Marketing, Europe Display Office, Samsung Electronics. “The Wall’s superior picture quality, coupled with its ability to bring out the minute details and vibrant colors, perfectly aligned with Marco Perego’s vision of creating an immersive experience to draw viewers into the themes of the film.”
     
     
    Empowering Creators with Cutting-Edge Display Technology
    Samsung continues to push the boundaries of display technology with The Wall, empowering creators in film and art. The Wall for Virtual Production (IVC model) is another prime example that enables companies and producers to innovate their productions. The ultra-large LED walls are created for virtual content, which seamlessly integrates real-time visual effects to reduce production time and costs.
     
    Samsung’s The Wall displays have been utilized by artists worldwide to bring their creative visions to life. For example, contemporary Korean art leader, the late Park Seo-Bo, showcased his masterpiece on The Wall All-in-One (IAB model) 146-inch 4K screen at New York’s Rockefeller Center.
     
    ▲ Park Seo-Bo’s “Écriture” series, digitally rendered on The Wall’s 146-inch 4K screen, at the “Origin, Emergence, Return” exhibition, Rockefeller Center, New York.
     
    Likewise, Dutch-American audiovisual artist 0010×0010 used The Wall All-in-One during an exhibition in Bangkok, Thailand, to explore the convergence of digital and physical worlds. These are just a few examples of how The Wall is helping to redefine the boundaries of modern art.
     
    Samsung Electronics’ participation at the 60th Venice Biennale is more than just a milestone in its support of the arts; it is a testament to the future of art and technology converging. By continuing to push the limits of display technology, Samsung opens new possibilities for creators across the globe, allowing them to tell their stories with unparalleled visual depth and clarity.

    MIL OSI Economics –

  • MIL-OSI Australia: A million new jobs under Labor

    Source: Australian Treasurer

    Under the Albanese Government, more Australians are working, earning more and keeping more of what they earn, with today’s ABS Labour Force figures showing well over a million jobs (1,039,300) have now been created since Labor came to office in 2022.

    This is the first and only time any government of any political persuasion has overseen the creation of a million new jobs in a single parliamentary term.

    This is a remarkable achievement, in the context of a slowing economy and a labour market that is expected to soften.

    Today’s result means the Albanese Government continues to oversee the largest increase in employment in a single parliamentary term in Australia’s history.

    In September, 64,100 jobs were created – 51,600 of which were full‑time positions.

    It’s also encouraging to note that the labour force participation rate continued to increase over the month, rising by 0.1 percentage points in September, to stand at a record high of 67.2 per cent.

    That equates to an additional 54,900 people entering the labour force over the month.

    Importantly, the female participation rate increased to a record high of 63.2 per cent, equating to an additional 23,100 women entering the labour force.

    Strong jobs growth was recorded across most Australian states and territories in September with employment now at a record high in five jurisdictions.

    Particularly positive results were recorded in New South Wales (with employment up by 23,100 or 0.5 per cent), followed by Victoria (up by 21,700 or 0.6 per cent) and Western Australia (up 8,300 or 0.5 per cent).

    Helping all Australians find work and delivering higher wages is one of the best ways we can support households with current cost‑of‑living pressures.

    The average full‑time worker is now earning $159 extra per week since the Albanese Government was elected. And the average full‑time worker is also receiving a tax cut of $44 per week because of the Government’s cost‑of‑living tax cuts.

    But while the Albanese Labor Government is focused on supporting more well‑paid, secure jobs, Peter Dutton and the Coalition have promised to cut wages and working conditions if they’re elected.

    Just this week, Shadow Finance Minister Jane Hume told Sky News the Coalition will “definitely consider” a request to allow medium sized businesses to unfairly dismiss their workers, without repercussions.

    This is on top of earlier promises from Peter Dutton to cut labour hire workers’ pay and scrap the rights of casual workers and the Right to Disconnect, forcing Australians into more unpaid overtime.

    At a time when many Australians are doing it tough, Peter Dutton and the Coalition will make things worse.

    We’re all about more people working, earning more and keeping more of what they earn and this shows we’re making good progress.

    Peter Dutton and the Coalition want you to work longer for less.

    Quotes attributable to Prime Minister Anthony Albanese

    “Today’s data shows that one million new jobs have been created since our election, and that our Government has helped more Australians than ever into secure, well‑paid jobs – earning more and keeping more of what they earn.

    “This is the most jobs ever created in a parliamentary term in Australian history.

    “The majority of our one million new jobs are full‑time, around half are for women and the gender pay gap is at a record low.

    Quotes attributable to Treasurer Jim Chalmers

    “More than a million new jobs in one parliamentary term is a pretty remarkable achievement in a slowing economy, and it means more new jobs have been created on our watch than any other government at any time.

    “This is the first and only time any government of any political persuasion has overseen the creation of a million new jobs in a single parliamentary term.

    “It’s a tribute to Australian workers and employers and it justifies the responsible way we’re managing the economy.”

    Quotes attributable to Minister for Employment and Workplace Relations Murray Watt

    “This is a great result that is helping more Australians deal with cost of living pressures.

    “There’s nothing more important than having a well‑paid job, so that you can pay your bills, and that’s what the Albanese Government is delivering.

    “In contrast, Peter Dutton has promised to make life harder for people, by cutting wages and conditions and making it easier to get the sack.”

    MIL OSI News –

  • MIL-OSI: Nokia Corporation Interim Report for Q3 2024

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Interim Report
    17 October 2024 at 08:00 EEST

    Nokia Corporation Interim Report for Q3 2024

    Strong gross margin improvement amidst ongoing market weakness

    • Q3 net sales declined 7% y-o-y in constant currency (-8% reported) as growth in Network Infrastructure and Nokia Technologies was offset by decline in Mobile Networks primarily in India and a divestment in Cloud and Network Services.
    • Order intake remained strong in Network Infrastructure, while the sales recovery continues to be slower than expected.
    • Comparable gross margin in Q3 increased by 490bps y-o-y to 45.7% (reported increased 500bps to 45.2%), with improvements across business groups, particularly in Mobile Networks.
    • Q3 comparable operating margin increased 160bps y-o-y to 10.5% (reported up 70bps to 5.7%), mainly due to higher gross margin, continued cost control and a benefit from the reversal of loss allowances for certain trade receivables.
    • Q3 comparable diluted EPS for the period of EUR 0.06; reported diluted EPS for the period of EUR 0.03.
    • Q3 free cash flow of EUR 0.6 billion, net cash balance EUR 5.5 billion.
    • Continued to make significant progress with cost savings program, EUR 500 million run-rate of gross savings actioned.
    • Nokia’s full year 2024 outlook is unchanged. Nokia currently expects comparable operating profit of between EUR 2.3 billion and 2.9 billion and free cash flow conversion from comparable operating profit of between 30% and 60%.

    This is a summary of the Nokia Corporation Interim Report for Q3 2024 published today. Nokia only publishes a summary of its financial reports in stock exchange releases. The summary focuses on Nokia Group’s financial information as well as on Nokia’s outlook. The detailed, segment-level discussion will be available in the complete financial report hosted at http://www.nokia.com/financials. A video interview summarizing the key points of our Q3 results will also be published on the website. Investors should not solely rely on summaries of Nokia’s financial reports and should also review the complete reports with tables.

    PEKKA LUNDMARK, PRESIDENT AND CEO, ON Q3 2024 RESULTS

    As I reflect on our performance in the third quarter, I am optimistic we are now turning the corner in many parts of our business, even if some continue to experience market weakness. Among the key highlights was a return to net sales growth in Network Infrastructure with Fixed Networks growing 9% in constant currency and IP Networks growing 6%. Order intake in Network Infrastructure continued to be robust with strong year-on-year growth and a growing order backlog. Additionally, we delivered a significant improvement in our gross margin at the group level and cash generation remained strong with EUR 621 million free cash flow in the quarter.

    There are reasons for optimism across our portfolio. We expect a significant acceleration in growth in Q4 in Network Infrastructure and see a number of structural demand trends supporting our future growth. In Mobile Networks, although market dynamics are more challenging, we have secured several important deals in the quarter, remain confident in our competitive position and are improving our gross margin. In Cloud and Network Services we are seeing excellent momentum in 5G Core along with strong progress in network automation, cloudification and enabling network APIs. Nokia Technologies continues to benefit from greater stability following the conclusion of its smart-phone renewal cycle and is making good progress expanding into the new growth areas.

    Across Nokia we are investing to create new growth opportunities outside of our traditional communications service provider market. We see a significant opportunity to expand our presence in the data center market and are investing to broaden our product portfolio in IP Networks to better address this. Our pending acquisition of Infinera will also bolster our Optical Networks exposure to this market and accelerate our growth opportunities. Additionally, we see a compelling new long-term opportunity in bringing 5G technology to the defense market and we continue to invest in private wireless networks where we are the clear market leader.

    Regarding our financial performance in Q3, our net sales declined by 7% in the quarter in constant currency. Three quarters of the decline was driven by India due to a strong year-ago quarter. Importantly we delivered a significant improvement in comparable gross margin which expanded 490 basis points from the year-ago period to reach 45.7%. This was driven by a combination of improved product mix, regional mix and actions to reduce product cost. Despite continued intense competition, we remain disciplined on price while still winning deals as we remain focused on improving the profitability of our business. We also progressed our cost reduction efforts contributing to a solid improvement of 160 basis points in our comparable operating margin on a year-on-year basis.

    Regarding full year 2024, our comparable operating profit outlook remains EUR 2.3 to 2.9 billion and we are currently tracking within the bottom-half of the range. The net sales recovery is happening slower than we expected previously, however, this is being partially offset by an improving gross margin and quick action on cost. We expect to be at the high end of our free cash flow target of 30% to 60% conversion from comparable operating profit.

    FINANCIAL RESULTS

    EUR million (except for EPS in EUR) Q3’24 Q3’23 YoY change Constant currency YoY change Q1-Q3’24 Q1-Q3’23 YoY change Constant currency YoY change
    Reported results                
    Net sales 4 326 4 709 (8)% (7)% 13 236 15 722 (16)% (15)%
    Gross margin % 45.2% 40.2% 500bps   46.1% 39.4% 670bps  
    Research and development expenses (1 116) (1 067) 5%   (3 376) (3 197) 6%  
    Selling, general and administrative expenses (692) (697) (1)%   (2 101) (2 104) 0%  
    Operating profit 246 237 4%   1 082 1 127 (4)%  
    Operating margin % 5.7% 5.0% 70bps   8.2% 7.2% 100bps  
    Profit from continuing operations 145 130 12%   965 700 38%  
    Profit/(loss) from discontinued operations 31 3 933%   (494) 11    
    Profit for the period 175 133 32%   471 711 (34)%  
    EPS for the period, diluted 0.03 0.02 50%   0.08 0.13 (38)%  
    Net cash and interest-bearing financial investments 5 460 2 960 84%   5 460 2 960 84%  
    Comparable results                
    Net sales 4 326 4 709 (8)% (7)% 13 236 15 722 (16)% (15)%
    Gross margin % 45.7% 40.8% 490bps   47.0% 39.9% 710bps  
    Research and development expenses (1 029) (1 024) 0%   (3 169) (3 119) 2%  
    Selling, general and administrative expenses (591) (594) (1)%   (1 785) (1 833) (3)%  
    Operating profit 454 418 9%   1 477 1 507 (2)%  
    Operating margin % 10.5% 8.9% 160bps   11.2% 9.6% 160bps  
    Profit for the period 358 293 22%   1 198 1 035 16%  
    EPS for the period, diluted 0.06 0.05 20%   0.21 0.18 17%  
    ROIC(1) 10.4% 11.9% (150)bps   10.4% 11.9% (150)bps  

    1 Comparable ROIC = Comparable operating profit after tax, last four quarters / invested capital, average of last five quarters’ ending balances. Refer to the Alternative performance measures section in Nokia Corporation Interim Report for Q3 2024 for details.

    Business group results Network
    Infrastructure    		 Mobile
    Networks    		 Cloud and Network Services Nokia
    Technologies    		 Group Common and Other
    EUR million Q3’24 Q3’23 Q3’24 Q3’23 Q3’24 Q3’23 Q3’24 Q3’23 Q3’24 Q3’23
    Net sales 1 525 1 534 1 747 2 157 702 742 352 258 3 22
    YoY change (1)%   (19)%   (5)%   36%   (86)%  
    Constant currency YoY change 1%   (17)%   (4)%   35%   (86)%  
    Gross margin % 42.1% 40.5% 39.8% 34.8% 40.9% 39.1% 100.0% 100.0%    
    Operating profit/(loss) 180 165 92 99 65 36 242 181 (126) (62)
    Operating margin % 11.8% 10.8% 5.3% 4.6% 9.3% 4.9% 68.8% 70.2%    

    SHAREHOLDER DISTRIBUTION

    Dividend

    Under the authorization by the Annual General Meeting held on 3 April 2024, the Board of Directors may resolve on the distribution of an aggregate maximum of EUR 0.13 per share to be paid in respect of financial year 2023. The authorization will be used to distribute dividend and/or assets from the reserve for invested unrestricted equity in four installments during the authorization period, in connection with the quarterly results, unless the Board decides otherwise for a justified reason.

    On 17 October 2024, the Board resolved to distribute a dividend of EUR 0.03 per share. The dividend record date is 22 October 2024 and the dividend will be paid on 31 October 2024. The actual dividend payment date outside Finland will be determined by the practices of the intermediary banks transferring the dividend payments.

    Following this announced distribution, the Board’s remaining distribution authorization is a maximum of EUR 0.03 per share.

    Share buyback program

    In January 2024, Nokia’s Board of Directors initiated a share buyback program to repurchase shares to return up to EUR 600 million of cash to shareholders in tranches over a period of two years. The share buyback execution started on 20 March 2024. On 19 July 2024, Nokia’s Board of Directors decided to accelerate the timeframe for the share buyback program with the aim of completing the full EUR 600 million program by the end of this year instead of the initial two year timeframe.

    On 27 June 2024, Nokia announced its intention to acquire Infinera in a transaction that valued Infinera at US$1.7 billion equity value with up to 30% of the consideration to be paid in Nokia American depositary shares (“ADSs”), depending on the elections of Infinera shareholders. Nokia’s Board of Directors is committed to repurchase additional shares on top of the on-going EUR 600 million program to offset the dilution from the transaction to Nokia shareholders.

    Under the share buyback program, by 30 September 2024, Nokia had repurchased 84 295 899 of its own shares at an average price per share of approximately EUR 3.48.

    OUTLOOK

      Full Year 2024
    Comparable operating profit(1) EUR 2.3 billion to EUR 2.9 billion
    Free cash flow(1) 30% to 60% conversion from comparable operating profit

    1Please refer to Alternative performance measures section in Nokia Corporation Interim Report for Q3 2024 for a full explanation of how these terms are defined.

    The outlook, long-term targets and all of the underlying outlook assumptions described below are forward-looking statements subject to a number of risks and uncertainties as described or referred to in the Risk Factors section later in this release. Along with Nokia’s official outlook targets provided above, below are outlook assumptions by business group that support the group level outlook.

      Nokia business group assumptions (full year 2024)
      Net sales growth (constant currency) Operating margin
    Network Infrastructure -6% to -3% (update) 10.0% to 12.0% (update)
    Mobile Networks -22% to -19% (update) 5.0% to 7.0% (update)
    Cloud and Network Services -7% to -4% (update) 6.0% to 8.0% (update)

    Nokia provides the following approximate outlook assumptions for additional items concerning 2024:

      Full year 2024 Comment
    Nokia Technologies operating profit at least
    EUR 1.4 billion    		 Nokia expects cash generation in Nokia Technologies to be EUR 700 million below operating profit in 2024 due to prepayments received in 2023. From 2025 onwards Nokia expects greater alignment between cash generation and operating profit in Nokia Technologies.
    Group Common and Other operating expenses EUR 350 million This includes central function costs which are expected to be largely stable at approximately EUR 200 million and an increase in investment in long-term research to approximately EUR 150 million.
    Comparable financial income and expenses Positive EUR 75 to EUR 125 million  
    Comparable income tax rate ~25%  
    Cash outflows related to income taxes EUR 450 million  
    Capital Expenditures EUR 450 million (update)  

    2026 TARGETS

    Nokia’s current targets for its existing perimeter of the business for 2026 are outlined below. This does not consider pending acquisitions. The Network Infrastructure operating margin assumption below considers Submarine Networks being treated as a discontinued operation. Nokia sees further opportunities to increase margins beyond 2026 and believes an operating margin of 14% remains achievable over the longer term.
    Net sales    		 Grow faster than the market
    Comparable operating margin(1) ≥ 13%
    Free cash flow(1) 55% to 85% conversion from comparable operating profit

    1 Please refer to Alternative performance measures section in Nokia Corporation Interim Report for Q3 2024 for a full explanation of how these terms are defined.

    The comparable operating margin target for Nokia group is built on the following assumptions by business group for 2026:

    Network Infrastructure 13 – 16% operating margin
    Mobile Networks 6 – 9% operating margin
    Cloud and Network Services 7 – 10% operating margin
    Nokia Technologies Operating profit more than EUR 1.1 billion
    Group common and other Approximately EUR 300 million of operating expenses

    RISK FACTORS

    Nokia and its businesses are exposed to a number of risks and uncertainties which include but are not limited to:

    • Competitive intensity, which is expected to continue at a high level as some competitors seek to take share;
    • Changes in customer network investments related to their ability to monetize the network;
    • Our ability to ensure competitiveness of our product roadmaps and costs through additional R&D investments;
    • Our ability to procure certain standard components and the costs thereof, such as semiconductors;
    • Disturbance in the global supply chain;
    • Impact of inflation, increased global macro-uncertainty, major currency fluctuations and higher interest rates;
    • Potential economic impact and disruption of global pandemics;
    • War or other geopolitical conflicts, disruptions and potential costs thereof;
    • Other macroeconomic, industry and competitive developments;
    • Timing and value of new, renewed and existing patent licensing agreements with licensees;
    • Results in brand and technology licensing; costs to protect and enforce our intellectual property rights; on-going litigation with respect to licensing and regulatory landscape for patent licensing;
    • The outcomes of on-going and potential disputes and litigation;
    • Our ability to execute, complete and realize the expected benefits from our ongoing transactions;
    • Timing of completions and acceptances of certain projects;
    • Our product and regional mix;
    • Uncertainty in forecasting income tax expenses and cash outflows, over the long-term, as they are also subject to possible changes due to business mix, the timing of patent licensing cash flow and changes in tax legislation, including potential tax reforms in various countries and OECD initiatives;
    • Our ability to utilize our Finnish deferred tax assets and their recognition on our balance sheet;
    • Our ability to meet our sustainability and other ESG targets, including our targets relating to greenhouse gas emissions;as well the risk factors specified under Forward-looking statements of this release, and our 2023 annual report on Form 20-F published on 29 February 2024 under Operating and financial review and prospects-Risk factors.

    FORWARD-LOOKING STATEMENTS

    Certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia’s current expectations and views of future developments and include statements regarding: A) expectations, plans, benefits or outlook related to our strategies, projects, programs, product launches, growth management, licenses, sustainability and other ESG targets, operational key performance indicators and decisions on market exits; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of potential global pandemics, geopolitical conflicts and the general or regional macroeconomic conditions on our businesses, our supply chain, the timing of market changes or turning points in demand and our customers’ businesses) and any future dividends and other distributions of profit; C) expectations and targets regarding financial performance and results of operations, including market share, prices, net sales, income, margins, cash flows, cost savings, the timing of receivables, operating expenses, provisions, impairments, taxes, currency exchange rates, hedging, investment funds, inflation, product cost reductions, competitiveness, revenue generation in any specific region, and licensing income and payments; D) ability to execute, expectations, plans or benefits related to our ongoing transactions and changes in organizational structure and operating model; E) impact on revenue with respect to litigation/renewal discussions; and F) any statements preceded by or including “continue”, “believe”, “envisage”, “expect”, “aim”, “will”, “target”, “may”, “would”, “see”, “plan” or similar expressions. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from such statements. These statements are based on management’s best assumptions and beliefs in light of the information currently available to them. These forward-looking statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors, including risks and uncertainties that could cause these differences, include those risks and uncertainties identified in the Risk Factors above.

    ANALYST WEBCAST

    • Nokia’s webcast will begin on 17 October 2024 at 11.30 a.m. Finnish time (EEST). The webcast will last approximately 60 minutes.
    • The webcast will be a presentation followed by a Q&A session. Presentation slides will be available for download at http://www.nokia.com/financials.
    • A link to the webcast will be available at http://www.nokia.com/financials.
    • Media representatives can listen in via the link, or alternatively call +1-412-317-5619.

    FINANCIAL CALENDAR

    • Nokia plans to publish its fourth quarter and full year 2024 results on 30 January 2025.

    About Nokia

    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia
    Communications
    Phone: +358 10 448 4900
    Email:press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia
    Investor Relations
    Phone: +358 4080 3 4080
    Email:investor.relations@nokia.com

    Attachment

    The MIL Network –

  • MIL-OSI: LHV Group Financial Calendar for 2025

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

    The MIL Network –

  • MIL-OSI China: Chinese automakers push forward with growth plans

    Source: China State Council Information Office

    People visit the pavilion of Chinese carmaker BYD at the 2024 Paris Motor Show during the media day in Paris, France, Oct. 14, 2024. [Photo/Xinhua]

    Chinese automakers are pushing forward with their development plans despite protectionist tariff threats from the European Union.

    Nine leading Chinese brands, including BYD, Xpeng, and Leapmotor, showcased new electric vehicle (EV) models at the 2024 Paris Motor Show, highlighting their technological advancements and determination to grow.

    Among the key unveilings was Leapmotor’s global debut of its B10 model, a compact electric SUV that will be manufactured in Poland for European consumers.

    Zhu Jiangming, founder of Leapmotor, outlined the B10’s advanced features, which include Advanced Driver Assistance Systems, a customizable digital cockpit, and intelligent driving capabilities. He also noted the company’s collaboration with the Stellantis team for chassis tuning, aiming to meet the preferences of younger consumers seeking innovation and quality.

    “The debut highlights Leapmotor’s rapid growth in Europe, with over 200 dealers already established across 13 markets, aiming to reach 500 sales points by 2025,” Leapmotor revealed.

    Stellantis CEO Carlos Tavares commended Leapmotor’s rapid growth and its in-house R&D capabilities, highlighting that the Leapmotor joint venture will promote affordable EVs globally and reshape Europe’s EV market.

    China’s Dongfeng Liuzhou Motor Co., Ltd. showcased four new energy vehicles: the flagship luxury Forthing V9 MPV, the pure electric sedan Forthing S7, the pure-electric SUV Friday and the hybrid MPV U-Tour.

    General Manager Lin Changbo emphasized the company’s portfolio of over 21,000 active patents, highlighting the commitment to enhancing global competitiveness and fostering collaboration with industry partners.

    Xpeng Motors introduced its AI-powered P7+ sedan, which it described as the “world’s first AI car.”

    Currently, the automotive industry is benefiting from two major advantages: intelligence and electrification, He Xiaopeng, chairman and CEO of Xpeng, told Xinhua in an exclusive interview.

    He stressed that as a member of China’s emerging car manufacturing forces, the company will continue to invest in R&D and deliver innovative intelligent technology to the European market.

    BYD unveiled its mid-sized electric SUV, the Sealion 7, and introduced its luxury Yangwang U8 SUV to the French market. Executive Vice President Li Ke told Frankfurter Allgemeine Sonntagszeitung newspaper that the company plans to start vehicle production in Hungary by late 2025, further cementing its position as a major Chinese player in Europe’s EV market.

    MIL OSI China News –

  • MIL-OSI China: ASML loses title as Europe’s most valued tech firm

    Source: China State Council Information Office

    Dutch semiconductor equipment manufacturer ASML saw a steep drop in its stock price for a second consecutive day on Wednesday, following a sharp fall on Tuesday.

    The slide came after the company released its third-quarter 2024 financial results a day early, revealing a sharp decrease in orders.

    ASML reported that third-quarter orders totaled approximately 2.6 billion euros (about 2.8 billion U.S. dollars), less than half of the 5.6 billion euros from the previous quarter. This disappointing performance triggered a major sell-off on Tuesday, causing ASML’s stock to plummet by nearly 124 euros, a 15.6 percent drop by the market’s close.

    The downward momentum continued into Wednesday, with shares falling an additional 5.1 percent, ending the day at 633.9 euros.

    Over the two days, ASML saw more than 60 billion euros in market value erased, leading to the loss of its status as the most valuable tech company in Europe. German software giant SAP SE has now claimed that title, with a market capitalization of approximately 259 billion euros. (1 euro = 1.09 U.S. dollars)

    MIL OSI China News –

  • MIL-OSI China: Hong Kong to build int’l gold trading center

    Source: China State Council Information Office

    Hong Kong will take advantage of its strength in gold import and export to build itself into an international gold trading center, John Lee, chief executive of the Hong Kong Special Administrative Region (HKSAR), said while delivering his third policy address Wednesday.

    Noting that Hong Kong ranks among the world’s largest import and export markets for gold by volume, Lee said that the current complexity in geopolitics underscores Hong Kong’s edge in security and stability, and hence an attractive location for investors for gold storage, spurring relevant activities such as gold trading, settlement, and delivery.

    “This will spur development of the related industry chain, ranging from investment transactions, derivatives, insurance, storage, to trading and logistic services,” Lee said.

    The HKSAR government will promote the development of world-class gold storage facilities, facilitating the storage and delivery of spot gold by users and investors in Hong Kong, and driving demand for related services such as collateral and loan businesses, opening up new growth areas of the financial sector, Lee said.

    The financial services and the treasury bureau of the HKSAR government will set up a working group to take forward the establishment of the international gold trading center, Lee said, adding that this will include, among other things, strengthening the trading mechanism and regulatory framework, promoting application of cutting-edge financial technology, and actively exploring with the mainland authorities on the inclusion of gold-related products in the mutual market access program.

    The international gold trading center was part of the measures Lee announced Wednesday to strengthen Hong Kong’s status as a global financial center. Among other measures, Hong Kong will deepen mutual market access and enrich offshore renminbi (RMB) business to reinforce its status as the world’s largest offshore renminbi business hub.

    Hong Kong will strive to provide more RMB-denominated investment product, including seeking support from the Ministry of Finance for boosting the size and frequency of issuing RMB sovereign bonds, and launching offshore RMB sovereign bond futures as soon as possible, Lee said.

    It will also actively liaise with the mainland authorities to expand the bond connect as appropriate, Lee said.

    MIL OSI China News –

  • MIL-OSI: Viridien Announces its Q3 Financial Results on Thursday 31st October 2024, after Market Close    

    Source: GlobeNewswire (MIL-OSI)

    Paris, France – October 17th, 2024

    Viridien, formerly CGG, will announce its third quarter 2024 financial results on Thursday, October 31st, after market close.

    • The press release and the presentation will be made available on our website http://www.viridiengroup.com at 5:45 pm (CET)
    • An English language analysts conference call is scheduled the same day at 6.00 pm (CET)

    Participants should register for the call here to receive a dial-in number and code or participate in the live webcast from here.

    A replay of the conference call will be made available the day after for a period of 12 months in audio format on the Company’s website http://www.viridiengroup.com.

    About Viridien (formerly CGG):

    Viridien (http://www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. Viridien employs around 3,500 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).

    Contacts

    Attachment

    The MIL Network –

  • MIL-OSI: Sampo plc’s share buybacks 16 October 2024

    Source: GlobeNewswire (MIL-OSI)

    Sampo plc, stock exchange release, 17 October 2024 at 8:30 am EEST

    Sampo plc’s share buybacks 16 October 2024

    On 16 October 2024, Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI4000552500) as follows:                

    Sampo plc’s share buybacks Aggregated daily volume (in number of shares) Daily weighted average price of the purchased shares* Market (MIC Code)
      3,733 41.55 AQEU        
      33,816 41.56 CEUX
      546 41.51 TQEX
      52,682 41.58 XHEL
    TOTAL 90,777 41.57  

    *rounded to two decimals                

    On 17 June 2024, Sampo announced a share buyback programme of up to a maximum of EUR 400 million in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. On 16 September 2024, the Board of Directors of Sampo plc resolved to increase the share buyback programme to EUR 475 million. The programme, which started on 18 June 2024, is based on the authorisation granted by Sampo’s Annual General Meeting on 25 April 2024.

    After the disclosed transactions, the company owns in total 8,772,593 Sampo A shares representing 1.60 per cent of the total number of shares in Sampo plc, taking the issuance of shares on 16 September 2024 into account.

    Details of each transaction are included as an appendix of this announcement.

    On behalf of Sampo plc,
    Morgan Stanley

    For further information, please contact:

    Sami Taipalus
    Head of Investor Relations
    tel. +358 10 516 0030

    Distribution:
    Nasdaq Helsinki
    Nasdaq Stockholm
    Nasdaq Copenhagen
    London Stock Exchange
    The principal media
    FIN-FSA
    DEN-FSA
    http://www.sampo.com

    Attachment

    The MIL Network –

  • MIL-Evening Report: Loss of an idol: response to Liam Payne’s death highlights the power of childhood and music

    Source: The Conversation (Au and NZ) – By Liz Giuffre, Senior Lecturer in Communication, University of Technology Sydney

    Former One Direction band member and solo artist Liam Payne has been found dead outside a hotel in Buenos Aires, media reports have confirmed. Payne was just 31 years old – a loved friend and father.

    Alongside his former One Direction band mates Niall Horan, Harry Styles, Louis Tomlinson and Zayn Malik, Payne had a huge influence on popular culture in his home country of the United Kingdom and internationally.

    The group formed in 2010 on the British talent show X Factor and stayed together for about five years before officially splitting in 2016. Throughout this time, Payne remained a valuable member of the band and a clear talent in his own right.

    Although each member auditioned seperately, they were eventually hand-picked by Simon Cowell to form a group.

    After the split (and a brief hiatus from music-making), Payne continued to release music periodically as both a songwriter and collaborator. He most recently released the single Teardrops in March, ahead of an anticipated second solo album.

    News of Payne’s death has led to an outpouring of tributes. Like many young people thrust into stardom seemingly overnight, his life wasn’t without controversy. But the response to his death by fans and industry colleagues alike is proof of the impact he had.

    The making of a pop supergroup

    While One Direction may have not been together for as long as other globally successful acts, their influence far exceeded bands that have been together for decades. They released five studio records – and broke many more, including six Guinness World Records. And even though they didn’t make it to their 10th anniversary together, they had still sold some 70 million records by 2020.

    In the years since the split, fans continued to gather, listen and celebrate – with the most recent anniversary (14 years) seeing fan-led events held in Australia and the rest of the world.

    It’s easy to dismiss pop music and its influence, especially in the face of what feel like increasingly dire global circumstances. But pop, like many other forms of entertainment, provides a practical way for people to gain momentary pleasure and comfort.

    It also provides connection with others – and relief from politics and other daily pressures. For example, one of One Direction’s biggest hits, That’s What Makes You Beautiful, sought to empower young people who might otherwise be overwhelmed by negative messaging.

    Within a year of their debut, the group was met with massive crowds of fans almost everywhere they want.

    One Direction has been compared to The Beatles in terms of their influence on young people – and female and queer fans in particular.

    The impact on fans when their idol dies

    The loss of life, especially a young person’s life, is always a tragedy.

    For some young fans, this might be the first person they “know” who has died. While it may not be the same as losing a family member or close friend, the feeling of loss is significant. Young fans will need support. And in 2024, many will find this support through social platforms and online forums.

    I still remember the impact the deaths of stars such as Kurt Cobain and Jeff Buckley had on people like me who were teenagers in the 1990s. These were artists I admired and listened to – and whose art I relied on during times of pleasure and pain.

    A similar pang was felt when artists such as George Michael, Aretha Franklin and David Bowie died, albeit later in my life and theirs.

    The experience of losing a music idol is in many ways a universal one. People whose art we attach to our own life experiences become inseparable from our lives. And when they die, it can feel like those experiences are over too.

    After news of Payne’s death broke, hundreds of fans took to the streets of Palermo in Buenos Aires, where Payne had been visiting. They held a vigil, cried and consoled one another in front of the Casa Sur hotel where Payne had been staying.

    One fan, 25-year-old Yamila Zacarias, probably spoke for many when she said:

    He meant a lot to me because the band came into my life at this time when you’re trying to be a part of something, and being a One Direction fan became that something for me.

    Lifelong fandom and memories

    There’s a stereotype of “fans” as hordes of screaming girls, which can really take away from the depth of fandom.

    Anyone at any stage of life can be a fan of just about anything. And the best thing about fandom is that it can, and often does, allow lots of different types of people an outlet for connection throughout their lives.

    Many fans have left comments on old music videos.
    YouTube/screenshot

    The death of US actress Betty White in 2021, as sad as it was, brought people across generations and walks of life together. And not just those who knew her personally, but those who had connected with each other through their love of her work. It reminded me of my own family, including my Nan and Dad, now gone, and the laughs we’d share as we watched her.

    As more details and tributes to Payne’s life and death emerge, the fans will have each other to lean on. If you yourself know someone who is a fan of Payne or One Direction, even reaching out to just acknowledge that person’s grief and experience is important. It says to them, “what you love is valid, and so are you”.

    If this article has raised issues for you, or if you’re concerned about someone you know, call Lifeline on 13 11 14.

    Liz Giuffre 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. Loss of an idol: response to Liam Payne’s death highlights the power of childhood and music – https://theconversation.com/loss-of-an-idol-response-to-liam-paynes-death-highlights-the-power-of-childhood-and-music-241554

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI New Zealand: Release: Further uncertainty for Kiwirail as jobs set to go

    Source: New Zealand Labour Party

    KiwiRail offering voluntary redundancy to all its staff is hugely concerning given the future of New Zealand’s rail system is under threat.

    KiwiRail employs 4,500 people and has staff in more than 50 towns and cities across the country.

    “These are skilled workers who contribute a lot to the New Zealand economy and make sure freight and passengers move around safely,” Labour’s state-owned enterprises spokesperson Arena Williams said.

    “It was revealed last week that more than 50 roles at the Interislander ferries were going, and now we hear all staff are going to be offered redundancy as of Monday.

    “I am especially concerned about the timing of this. There is already huge uncertainty around the future of the essential rail connection across the Cook Strait, following Nicola Willis’ decision to cancel the rail-enabled ferries.

    “Labour had a plan for new ferries, because the current ones will need significant maintenance to serve their critical role in connecting the North and South Islands.  

    “Cutting maintenance and engineering jobs, when you have no plan for new ferries and are relying on the old ones, is adding fuel to the fire and will only mean ferries that break down more often and put passenger and crew safety at risk.

    “Freight companies are worried too. They are unsure if their journeys will go ahead, and there is growing concern about stock arriving on time, safely.

    “A year on, there is still no plan from the government to replace the ageing ferries and even less certainty for staff and the public,” Arena Williams said.

    Stay in the loop by signing up to our mailing list and following us on Facebook, Instagram, and X.

    MIL OSI New Zealand News –

  • MIL-OSI Russia: Commuter trains will start running on winter schedule from October 27

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    From October 27, trains of the Central Suburban Passenger Company (CPPK) will switch to the winter schedule. The changes will affect the Paveletsky, Savelovsky, Kazansky, Kaluzhsky and Nizhny Novgorod directions, as well as the Big Ring of the Moscow Railway.

    The schedule adjustment is traditionally carried out jointly with the Moscow Railway twice a year. This is due to the beginning and end of the dacha season. In the spring, passengers often go out of town, and in the fall, the demand for such trips decreases, so for the autumn-winter period, “dacha” trains will be temporarily removed from the schedule.

    Paveletsky direction and the Big Ring of Moscow Railway

    On the Paveletsky direction and the Big Ring of the Moscow Railway, the following trains will be cancelled:

    — No. 6991 and 6993 Paveletsky Station – Yaganovo;

    — No. 6992 and 6994 Yaganovo — Paveletsky Station;

    – No. 6875/6975 Bekasovo-1 – Detkovo – Mikhnevo;

    — No. 6393 Paveletsky railway station — Mikhnevo;

    — No. 6394 Mikhnevo — Paveletsky Station;

    — No. 6181 Paveletsky Station – Kashira;

    — No. 6182 Kashira — Paveletsky Station.

    On weekends, other trains will run there:

    — No. 6391 Paveletsky railway station — Mikhnevo;

    — No. 6392 Mikhnevo — Paveletsky Station;

    – No. 6904 Yaganovo – Mikhnevo;

    – No. 6873/6973 Bekasovo-1 – Detkovo – Yaganovo;

    — No. 6683 Paveletsky Station – Domodedovo;

    — No. 6682 Domodedovo — Paveletsky Station.

    Savelovskoye and Kazanskoye directions

    Three weekend electric trains will be cancelled on the Savelovsky direction: trains No. 6354v Savelovsky Station – Savelovo, No. 6363v Savelovo – Savelovsky Station and No. 6921v Lobnya – Savelovsky Station.

    On the Kazan direction, two trains will be cancelled on weekends: electric trains No. 6016v Golutvin — Ryazan-1 and No. 6007v Ryazan-1 — Golutvin. On Sundays, electric trains No. 6366v Voskresensk — Yegoryevsk-2 and No. 6365v Yegoryevsk-2 — Voskresensk will not run. On Saturdays, starting November 2, trains No. 7193v Kurovskaya — Kazansky Station, No. 7194v Kazansky Station — Cherusti and No. 7687 Cherusti — Kurovskaya will be removed from the schedule.

    In addition, train #7051 from Ryazan-2 to Kazansky Station, which runs on Sundays, has been cancelled since October 6. New routes #6009 Ryazan-1 to Rybnoye and #6018 Rybnoye to Ryazan-1 have been organized on the Kazan direction on weekends.

    Kaluga and Nizhny Novgorod directions

    On the Kaluga and Nizhny Novgorod directions, weekend trains No. 6383 Kyiv Station – Maloyaroslavets, No. 6384 Maloyaroslavets – Kyiv Station, No. 6773 and 6775 Ferzikovo – Kaluga-1, as well as No. 6772 and 6776 Kaluga-1 – Ferzikovo will be removed from the schedule. At the same time, six-car electric trains No. 6157/6158 and 6107/6108 Kyiv Station – Kaluga-1 will be assigned daily.

    Since September 28, trains No. 7083/7084 Ploshchad Trekh Vokzalov — Vladimir, No. 7703/7704 Vladimir — Ploshchad Trekh Vokzalov and No. 7103/7104 Zheleznodorozhnaya — Ploshchad Trekh Vokzalov, which ran on Saturdays, have been cancelled.

    You can check the train schedule on the official website the transport company and in the mobile application “TsPPK schedule and tickets”.

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

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

    http://vvv.mos.ru/nevs/item/145316073/

    MIL OSI Russia News –

  • MIL-OSI Economics: Asian Development Bank and Kazakhstan: Fact Sheet

    Source: Asia Development Bank

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

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

    MIL OSI Economics –

  • MIL-OSI Economics: Panasonic HD secures SBTi verification for 2050 Net-Zero Emissions Target

    Source: Panasonic

    Headline: Panasonic HD secures SBTi verification for 2050 Net-Zero Emissions Target

    Osaka, Japan, October 17, 2024 – Panasonic Holdings Corporation (Panasonic HD) announced today that the Science Based Targets initiative(*1), a global body driving ambitious corporate climate action, has verified the company’s greenhouse gas (GHG) 2050 reduction target as a “Net-Zero Science-Based Target.”
    The SBTi promotes science-based GHG reduction targets for companies, aiming to limit global temperature rise to 1.5°C above pre-industrial levels. Its certification standards for short-term (2030) so-called “1.5°C Targets” and long-term (2050) “Net-Zero Targets” have become the global benchmark for corporate climate goals aligned with the Paris Agreement.
    In May 2023, Panasonic HD received SBTi approval for its 1.5°C Target. Now, the company has secured verification from the body for its Net-Zero Target after submitting detailed plans to achieve net-zero emissions by 2050, in line with SBTi guidelines.
    Panasonic HD’s Net-Zero Target commits to reducing GHG emissions across the company’s entire value chain. This includes scope 1 emissions from the company’s own activities, as well as scopes 2 and 3 emissions, from indirect activities, by at least 90% by FY2050 compared to FY2019 levels. The company pledges to neutralize the remaining 10% through proprietary carbon removal technologies.
    SBTi verification validates that a company’s GHG reduction targets are appropriately set, enhancing stakeholder trust in its climate action efforts. Globally, 1,138 companies have received Net-Zero Target certification, including 52 in Japan(*2).
    Panasonic HD remains committed to achieving net-zero emissions across its value chain and contributing to GHG reductions in society, driving impact toward achieving a decarbonized world.

    MIL OSI Economics –

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

    Source: Reserve Bank of India

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

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

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

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1313

    MIL OSI Economics –

  • MIL-OSI: Karolinska Development’s portfolio company Umecrine Cognition presents new preclinical Parkinson’s data on golexanolone at the scientific conference, INBC 2024

    Source: GlobeNewswire (MIL-OSI)

    STOCKHOLM, SWEDEN – October 17, 2024. Karolinska Development AB (Nasdaq Stockholm: KDEV) today announces that its portfolio company Umecrine Cognition will present new preclinical data on golexanolone, showing retained dopamine signalling in Parkinson’s disease, at the 10th International Conference on Neurology and Brain Disorders 2024 in Baltimore, Maryland, US, during October 21-23.

    Parkinson’s disease is a progressive neurodegenerative disease hallmarked by motor symptoms and disrupted cognitive functions as well as mental health. The disorder is caused by the loss of nerve cells in the brain that produce the signaling substance dopamine, which leads to various symptoms reducing the patient’s well-being and quality of life.

    The results from the preclinical study that will be presented at INBC 2024 showed that treatment with Umecrine Cognitions’ clinical drug candidate golexanolone significantly reduced the decrease of a dopamine-producing enzyme in the brain and returned dopamine to normal levels. The study also showed that an early onset of treatment generated sustained effects, indicating a potential for reduced symptomatic progression. These results support previous findings of improved motor coordination and non-motor behavior. Based on the preclinical results, Umecrine Cognition will evaluate the possibilities of establishing a clinical program of golexanolone in Parkinson’s disease alongside its ongoing phase 2 trial in primary biliary cholangitis, PBC.

    “We are delighted that our portfolio company Umecrine Cognition is now able to present supportive data on its drug candidate golexanolone as a treatment that offers sustained effects on both motor and non-motor symptoms in Parkinson’s disease. Importantly, the new research findings also indicate that golexanolone has a great potential to alter disease progression and behavioral impairments, two features that are highly sought after by the many individuals living with the disease,” says Viktor Drvota, CEO of Karolinska Development.

    The results will be presented by Umecrine Cognition’s Chief Scientific Officer Magnus Doverskog at the scientific session “Alzheimer’s and Parkinson’s Diseases” on October 21, 2024.

    Karolinska Development’s ownership in Umecrine Cognition amounts to 73%.

    For further information, please contact:

    Viktor Drvota, CEO, Karolinska Development AB
    Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com 

    Johan Dighed, General Counsel and Deputy CEO, Karolinska Development AB
    Phone: +46 70 207 48 26, e-mail: johan.dighed@karolinskadevelopment.com

    TO THE EDITORS

    About Karolinska Development AB

    Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patient’s lives while providing an attractive return on investment to shareholders.

    Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.

    Karolinska Development has a portfolio of eleven companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.

    The company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.

    For more information, please visit http://www.karolinskadevelopment.com.

    Attachment

    The MIL Network –

  • MIL-OSI New Zealand: Maritime News – Charter boat operator sentenced over fatal incident

    Source: Maritime New Zealand

    company’s failure to ensure health and safety policies and procedures were correctly followed played a key role in the tragic death of a passenger on a luxury charter vessel.
    Zefiro Charters Limited was today sentenced in the District Court at Auckland for a breach of the Health and Safety at Work Act 2015, in relation to the death of Danielle Tamarua on 1 April, 2021, after she fell overboard off the Zefiro . At the time Ms Tamarua was on the vessel with work colleagues on a trip around the Hauraki Gulf.
    Maritime NZ’s General Manager Investigations, Pete Dwen says the company had been operating the Zefiro for 17 years, and it had policies and procedures in place to keep passengers safe while it was underway.
    “Tragically these procedures were not followed on 1 April, 2021,” he says.
    In accordance with the Maritime Operator Safety System, Zefiro Charters’ was operating under a Maritime Transport Operator Plan (MTOP). This plan identified various health and safety risks, including the hazard of passengers being on the bow of the vessel while it is underway. Ultimatley, the company failed to ensure the systems and processes in the MTOP were properly implemented and enforced on board.
    “All crew members are meant to know, understand and enforce the health and safety procedures on the vessel.
    “The MTOP plan also covered a safety briefing which stated passengers were not allowed on the bow, side decks or the duckboard (the very rear of the boat) while it is underway.
    “Some crew were unaware it was a policy for the vessel,” Mr Dwen says.
    There was also a lack of a physical barrier for the passengers indicating the no-go areas.
    Prior to Ms Tamarua falling overboard, the vessel was returning to berth, and weather conditions had worsened. Ms Tamarua had gone up to the bow of the vessel with another passenger.
    “When returning to go back inside the vessel, Ms Tamarua slipped and fell overboard. She was struck by the vessel and died, despite the efforts to save her.
    “If the prescribed health and safety procedures were followed, this incident would have likely been avoided,” Pete Dwen says.
    “This should have been a fun day out on the water. This incident is a horrific example of what can go wrong when a company fails to ensure health and safety procedures are followed.
    “I want to offer our sincere condolences to the family and friends of Ms Tamarua, as well as those on-board the Zefiroon 1 April, 2021.
    “I also want to thank the emergency service personnel who responded quickly and professionally to a very difficult situation,” Pete Dwen says.
    Sentencing notes what happened in the District Court at Auckland
    – Following a plea by notice, Zefiro Charters Limited was convicted on one charge under s 36(2) of the Health and Safety at Work Act 2015.
    – Judge Thomas described the culpability as amounting to a significant breach and indicated he would have had no hesitation in imposing a significant fine in the hundreds of thousands of dollars.
    – However, due to the limited financial means of the company, Judge Thomas ordered emotional harm reparation of $140,000 (to be apportioned between the victims) only.

    MIL OSI New Zealand News –

  • MIL-OSI Russia: Government meeting (2024, No. 30)

    MILES AXLE Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    1. On the draft federal law “On Amendments to Article 111 of the Federal Law “On Compulsory Civil Liability Insurance of Vehicle Owners””

    The bill establishes the possibility for insurers to issue a notification of a road traffic accident in the form of an electronic document without the participation of authorized police officers using the Unified Identification and Authentication System (UIAS).

    2. On the allocation of budgetary appropriations to the Ministry of Finance of Russia in 2024 from the reserve fund of the Government of the Russian Federation for the provision of subsidies to the joint-stock company DOM.RF for the purpose of compensating credit and other organizations for lost income on housing (mortgage) loans (credits) issued to citizens of the Russian Federation

    The decision is aimed at ensuring compensation to credit and other organizations for lost income on housing (mortgage) loans (credits) issued under the preferential mortgage programs “Preferential Mortgage”, “Family Mortgage” and “Far Eastern and Arctic Mortgage”.

    3. On the distribution of subsidies to support measures to ensure the balance of the budgets of the Donetsk People’s Republic, the Lugansk People’s Republic, the Zaporizhia region and the Kherson region

    The decision is aimed at providing additional financial assistance to the Donetsk People’s Republic, the Luhansk People’s Republic, the Zaporizhia region and the Kherson region.

    4. On the allocation of budgetary appropriations to Rosavtodor in 2024 to provide the budget of the Smolensk region with a subsidy from the federal budget for bringing highways and artificial road structures into compliance with the standard

    The funding is aimed at ensuring the restoration and repair of the road overpass in the city of Vyazma, Smolensk region.

    5. On the allocation by the Ministry for the Development of the Russian Far East in 2024 of budgetary allocations reserved in the federal budget for the provision of a subsidy in the form of a property contribution of the Russian Federation to the state development corporation VEB.RF

    The decision is aimed at implementing priority investment projects in the Far Eastern Federal District and state support for regular transportation along the Northern Sea Route.

    6. On the allocation in 2024 by the Ministry for the Development of the Russian Far East of budgetary allocations reserved in the federal budget for the provision of subsidies to the constituent entities of the Russian Federation that are part of the Far Eastern Federal District for the implementation of measures of the social development plans of economic growth centers

    7. On the draft federal law “On Amending Article 353 of the Labor Code of the Russian Federation”

    Establishing the possibility of implementing state control (supervision) over the activities of organizations conducting special assessments of working conditions, and improving the quality of such assessments.

    8. On the allocation in 2024 of budgetary appropriations to the Ministry of Labor of Russia for the provision of subventions to the budgets of the constituent entities of the Russian Federation and the city of Baikonur for the payment of housing and communal services to certain categories of citizens

    The decision is aimed at ensuring the timely provision of social support measures for the payment of housing and communal services to citizens exposed to radiation as a result of the Chernobyl disaster, the accident at the Mayak production association and the discharge of radioactive waste into the Techa River, nuclear tests at the Semipalatinsk test site, as well as certain categories of citizens from among veterans and disabled people.

    9. On the Government Commission on issues of nature management and environmental protection, development of forestry and water management complexes

    The draft resolution provides for the formation of an updated Government Commission on Nature Management and Environmental Protection, Development of the Forestry and Water Management Complexes and the approval of the regulations on the commission, as well as the abolition of the Government Commission on Nature Management and Environmental Protection and the Government Commission on Development of the Forestry Complex.

    10. On the draft order of the Government of the Russian Federation on the allocation of budgetary allocations to the Ministry of Agriculture of Russia in 2024 for the provision of subsidies from the federal budget to Russian credit institutions and the joint-stock company DOM.RF

    The funding is intended to compensate for lost income on housing (mortgage) loans (credits) issued to citizens for the construction (purchase) of housing in rural areas, as well as to compensate for lost income on consumer loans (credits) issued to improve the level of improvement of households located in rural areas.

    11. On the draft order of the Government of the Russian Federation on the allocation in 2024 of budgetary appropriations to the Ministry of Agriculture of Russia for the provision of subsidies from the federal budget to Russian credit institutions and the state development corporation VEB.RF to compensate for lost income on loans issued to agricultural producers, organizations and individual entrepreneurs engaged in the production, primary and subsequent processing of agricultural products and their sale, at a preferential rate

    The decision is aimed at ensuring the implementation of the preferential lending program for the agro-industrial complex in 2024.

    12. On the allocation of budgetary appropriations to the Russian Emergencies Ministry in 2024 from the reserve fund of the Government of the Russian Federation for the purpose of providing another inter-budget transfer to the budget of the Kursk region

    The decision is aimed at providing citizens who suffered as a result of the attack by the Ukrainian armed forces on the territory of the Kursk region with financial assistance in connection with the partial or complete loss of essential property.

    13. On amendments to certain acts of the Government of the Russian Federation

    The changes concern the clarification of the powers of federal and regional executive bodies in the field of heat supply, as well as the procedure for organizing heat supply, regulating relations on the development and approval of heat supply schemes for municipal districts.

    14. On the draft federal law “On Amending Article 7 of the Federal Law “On Combating the Legalization (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism”

    The adoption of the draft federal law will allow banks to test the most optimal methods of remote identification within the framework of an experimental legal regime.

    15. On the progress of the implementation of the comprehensive state program of the Russian Federation “Construction” in 2024

    Moscow, October 16, 2024

    The content of the press releases of the Department of Press Service and References is a presentation of materials submitted by federal executive bodies for discussion at a meeting of the Government of the Russian Federation.

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

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

    http://government.ru/meetings/53021/

    MIL OSI Russia News –

  • MIL-OSI Russia: Two integrated development projects are being implemented on part of the former Khapilovka industrial zone

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    About nine hectares of land will be reorganized in part of the former Khapilovka industrial zone as part of two integrated territorial development projects (ITD). This was reported by the Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    “As part of the comprehensive development of part of the former industrial zone Khapilovka, KRT operators will build 93.4 thousand square meters of various real estate on four sites with a total area of about nine hectares. The project implementation periods vary from four to five years. Investments in the development of the sites are estimated at 9.8 billion rubles. As a result, about 400 jobs will be created,” said Vladimir Efimov.

    The plots are located in the Preobrazhenskoye district, not far from the Preobrazhenskaya Ploshchad and Semenovskaya metro stations and the Izmailovo platform of the Moscow Central Circle.

    “Modern housing for renovation purposes and other city needs with an area of 77.8 thousand square meters will appear within five years on three sites of the former industrial zone Khapilovka with a total area of 4.17 hectares, included in one KRT project. On another site with an area of 4.8 hectares, about 15.6 thousand square meters of communal facilities will be built in four years. All sites will be landscaped and greened, and new roads will be laid,” added the Minister of the Moscow Government, head of the capital’s Department of City Property

    Maxim Gaman.

    According to the program of integrated development of territories, multifunctional city quarters are created, where roads, comfortable housing and all necessary infrastructure are designed on the site of former industrial zones and inefficiently used areas. Currently, 236 KRT projects with a total area of more than 3.1 thousand hectares are at various stages of implementation in Moscow. Their development is underway on behalf of Sergei Sobyanin.

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

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

    http://vvv.mos.ru/nevs/item/145350073/

    MIL OSI Russia News –

  • MIL-OSI Russia: How competitions for the best themed design of stores and restaurants help develop business

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Voting continues in the Active Citizen project for the best seasonal designcatering, trade and service enterprises. Until November 1, Muscovites can choose the most beautiful store, restaurant or beauty salon.

    The prize fund, which is distributed among the first three places, helps restaurateurs and cafe owners develop their business and become better for residents and guests of the capital. The winners of previous years’ competitions for the best New Year and holiday window decoration used the money they won for repairs, purchasing new equipment, and even motivating their team.

    Thus, the restaurant located on Patriarch’s Ponds took second place in the competition for the best New Year’s decoration and received three million rubles. Anastasia Danilova, the restaurant’s general director, said that thanks to the victory, it was possible to put up summer tents, green the veranda and arrange a recreation area among the birches.

    The company continues to delight Muscovites and guests of the capital with new decor, paying more and more attention to the design. Seasonal decorations are harmoniously complemented by the landscape design of the space near the mansion, where the veranda is located. Thanks to this, guests see a bright change of seasons.

    According to Olesya Romanova, a representative of the restaurant — the winner of the City Day competition, all the costs of beautiful decoration pay off in the end, raising the spirits of not only the visitors, but also the team. The establishment won in the nomination “Best decoration of a public catering establishment”. The prize fund was five million rubles.

    The owners invested some of the money into renovations: they updated the walls, bought additional furniture and equipment for the confectionery shop. They managed to implement ideas that had been put off because there was not always the financial opportunity to implement them. In addition, the victory motivated the team and gave an additional incentive to continue decorating the cafe for the holidays.

    The next holiday is New Year. Elena Melnik, the owner of the restaurant, which took second place for the festive decoration for Victory Day, is already coming up with a design. The company’s managers spent three million rubles on inventory for the bar and kitchen, beautiful dishes, invited artists who updated the interior space – added design elements. In addition, the employees who decorated the establishment received bonuses.

    Project “Active Citizen” has been operating since 2014. During this time, over seven million people have joined it, taking part in more than 6.6 thousand votes. Every month, 30-40 decisions of Muscovites are implemented in the city. The project is being developed by the capital Department of Information Technologyand the State Institution “New Management Technologies”.

    The use of digital technologies and artificial intelligence to improve the quality of life of city residents corresponds to the objectives of the national program “Digital Economy of the Russian Federation” and the regional project of the capital “Digital Public Administration”. More information about this and other national projects implemented in Moscow, you can find out here.

    The Active Citizen project has begun voting for the best design of shops and cafes in the summer

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

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

    http://vvv.mos.ru/nevs/item/145319073/

    MIL OSI Russia News –

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

    Source: Reserve Bank of India

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

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

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

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

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

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1315

    MIL OSI Economics –

  • MIL-OSI New Zealand: Transport – Trucking operators support Government’s targeted actions on road safety

    Source: Ia Ara Aotearoa Transporting New Zealand

    Road freight peak body Ia Ara Aotearoa Transporting New Zealand has welcomed the Government’s release of targeted actions to improve road safety, focussing on road policing and enforcement and safer roading infrastructure. Minister Simeon Brown today announced four key actions to improve safety outcomes:
    – Increased alcohol breath testing and introducing roadside drug testing
    – Reviewing penalties for traffic offences
    – Identifying opportunities to improve the driver licensing system
    – Building and maintaining our road network to a safe standard
    Transporting New Zealand Board Member and freight company general manager Scott Johnstone says that the Government’s announcement shows it is prioritising action to improve the safety of New Zealanders.
    “Cracking down on alcohol and drug impairment on the roads is essential to reducing deaths and injuries on our roads. 48.4 percent of fatal crashes involving driver alcohol/drugs as a contributing factor in 2022.”
    “The road freight industry sees the terrible impact of these crashes up close, so we’re highly supportive of increasing the number of alcohol breath tests, enabling roadside drug testing, and higher visibility policing of all road users.”
    Johnstone is also particularly supportive of the Government’s commitment to building safer, modern roads, including through the Roads of National Significance and Roads of Regional Significance programmes.
    “We know that newer roads are safer for all motorists. A 2023 Study by the AA Research Foundation found that eight new stretches of highway or expressway around the country had resulted in a 37 percent reduction in deaths and serious injuries.
    “Projects like Ōtaki to north of Levin Highway in Greater Wellington, Manawatū Tararua Highway, and Belfast to Pegasus motorway in Canterbury will substantially improve safety, as well as efficiency.”
    “As a general manager, I will feel a lot better knowing that our drivers and their families are operating on safer, modern roads with effective policing of alcohol and drug impaired drivers.”
    For further information , contact Dom Kalasih, interim chief executive, Ia Ara Aotearoa Transporting New Zealand, 027 441 4309, who can refer inquiries to Board Member and Freight Company General Manager Scott Johnstone.
    About Ia Ara Aotearoa Transporting New Zealand
    Ia Ara Aotearoa Transporting New Zealand is the peak national membership association representing the road freight transport industry. Our members operate urban, rural and inter- regional commercial freight transport services throughout the country.
     New Zealand’s road freight transport industry employs 33,000 people (1.2% of the total workforce), and has a gross annual turnover in the order of $6 billion. This is part of a wider transport sector that employs 108,000 people and contributes 4.8 percent of New Zealand’s GDP.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Slash Management – Aratu Forests plans high strength steel nets to manage woody debris

    Source: Aratu Forests Limited

    Aratu Forests Ltd (Aratu) today announced plans for the first of three Swiss-designed high strength steel debris nets which aim to reduce the amount of woody debris flowing into catchments following storm events.
    Aratu plans debris nets at private properties bordering Te Marunga, Waimanu and Wakaroa forests. These will be subject to a resource consent process. The first is planned to span a waterway near Wakaroa Forest on a site straddling two properties.
    These will complement a range of other measures within the forest that have already been implemented or are planned.
    “We’re committed to being a responsible custodian of the environments we operate in, so we’re pleased to be advancing our plans with today’s announcement,” said Neil Woods, Aratu Chief Executive.
    “Debris nets are one part of a toolbox of measures we are using and plan to use to minimise woody debris accumulating in plantations and migrating down waterways after storms.
    “The nets are an extra layer of protection that have been successfully used overseas and in New Zealand. They’ve proven to be very effective at saving lives, buildings and land from the impacts of woody debris and rock falls.
    “We’re proud to be partnering with Swiss-based Geobrugg, the pioneer of debris net technology. In the last 10 years Geobrugg has installed over 250 debris flow barriers of the kind proposed by Aratu in more than 25 countries including New Zealand.
    “The planned net will be the first of its kind in Tairāwhiti. One installed in 2021 in northern Hawke’s Bay has worked well to date to trap debris after storms.
    “The region paid a high price for the devastation caused by cyclones Hale and Gabrielle. Like all forestry companies in Tairāwhiti, we work in a very challenging environment with many trees planted on highly erodible soils on steep hill slopes.
    “We have learnt much from the cyclones and are determined to keep lifting our game to limit the impacts from our operations.”
    Since taking over the forests in 2019, Aratu has introduced a range of measures to improve the management of woody debris (see details in Q&A attached).
    “We look forward to progressing the resource consent process with the Gisborne District Council so we can get on with doing our bit to better manage woody debris in Tairāwhiti,” said Neil Woods.
    Aratu manages 35,000 hectares of forestry plantation land across Te Tairāwhiti. In July 2019, Hikurangi Forest Farms was purchased by New Forests, an Australian-based, international and sustainable forestry investment manager, on behalf of its institutional investment clients. The company was renamed Aratu Forests Ltd. Since taking over ownership, we have continued to develop low impact harvesting techniques to mitigate debris movements from the plantations to ensure its sustainable plantations deliver long term benefits for the local community. We support over 200 permanent jobs and each week our company invests more than $1 million into the local economy through payments to our employees and suppliers. Aratu is committed to being a responsible custodian of the environment it operates in. In learning from the 2023 cyclone events, we have continued to refine our forest management practices with the aim of mitigating any negative impacts on the wider environment.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: NZ Compare Awards 2024: Call for Entries Now Open

    Source: NZ Compare

    NZ Compare is excited to bring back the iconic and highly anticipated NZ Compare Awards for 2024 – an event dedicated to uplifting and commemorating excellence and innovation in Aotearoa. It’s the perfect time to celebrate the very best in Aotearoa’s internet, energy, and telecommunications industries. Hitting its 8th year, the NZ Compare Awards have bloomed into an annual event that recognises outstanding service to Kiwis, innovation, and customer satisfaction across a broad range of categories.
    NZ Compare invites businesses across the country to submit their nominations and showcase their excellence. With the entries now officially open for 2024, this is a unique opportunity to stand out in a competitive marketplace and gain recognition for your commitment to delivering services to Kiwis that keep us connected and powered!
    Whether you are a large company or a growing provider, NZ Compare welcomes your entry and encourages all eligible businesses to get involved.
    This year, NZ Compare Awards 2024 have been supported by some great sponsors, including Chorus, realestate.co.nz, Enable Networks, Northpower Fibre and Tuatahi First Fibre. The aim for 2024 is to shine a light on categories across key sectors such as Broadband, Power and Mobile. Categories will have a special emphasis on celebrating sustainability and customer experience. NZ Compare’s infamous ‘Making a Difference Award’ will also return this year. Open to all sectors, this special award recognises those companies making a significant difference to local communities through innovation, creativity, and technology, with Kiwis at the heart of their projects.
    This year, winners will be selected by a panel of industry expert judges and, in some categories, public voting. By empowering Kiwis to use their voice, companies that deliver excellent service and value can be platformed and celebrated.
    NZ Compare Founder and CEO Gavin Male said, “The NZ Compare Awards have become a benchmark for industry excellence in New Zealand, and we’re thrilled to be hosting the event again this year. We encourage all companies that are making a difference in the lives of Kiwis to enter and be part of this celebration.”
    Key Dates:
    Entries Open: 01/10/2024
    Entries Close: 06/11/2024
    Finalist Ceremony: 19/11/2024
    Winners Announced: 10/12/2024
    For more information on categories, entry criteria, and how to submit an entry, visit the NZ Compare Awards 2024 official website at awards.nzcompare.com.
    About NZ Compare
    NZ Compare is New Zealand’s leading comparison platform, helping consumers make informed choices about their broadband, mobile, and energy services. Through impartial reviews, price comparisons, and expert analysis, NZ Compare empowers Kiwis to find the best deals and services for their needs.

    MIL OSI New Zealand News –

  • MIL-OSI Russia: More than 1.6 million square meters of industrial space to be built in Moscow under preferential investment lending program

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Thanks to the program of preferential investment lending, more than 1.6 million square meters of new industrial space will be built in the capital. This was reported by the Deputy Mayor of Moscow for Transport and Industry Maxim Liksutov.

    “On the instructions of Sergei Sobyanin, from 2022

    Moscow Foundation for Support of Industry and Entrepreneurshipis implementing a program to subsidize interest rates on preferential investment loans at three percent up to three billion rubles for the development of production for a period of three years. According to the contracts concluded since the instrument was put into effect, more than 1.6 million square meters of production space will be built in the capital, and more than 27.5 thousand new jobs will be created,” said Maxim Liksutov.

    New production facilities will appear in the city, where they will produce medical products, medicines, food products, microelectronics, building materials and much more.

    “In just nine months of 2024, thanks to the mechanism of preferential investment lending, Moscow enterprises attracted funds for the construction of more than 781 thousand square meters of industrial space, where 12.5 thousand jobs will be created,” noted the Minister of the Moscow Government, head of the capital’s Department of Investment and Industrial Policy

    Anatoly Garbuzov.

    In particular, the Itelma enterprise, which produces electronics for transport, will be able to attract three billion rubles for the construction of a new industrial facility. Its area will be 84.6 thousand square meters. Research and development, information technology and electronics centers will be located inside.

    The tea and spice manufacturer Ekom Company has acquired industrial infrastructure with an area of almost six thousand square meters and more than 50 units of equipment. For these purposes, the organization was able to attract 710 million rubles. The new facility will be commissioned in the second or third quarter of 2025.

    Under the preferential investment lending program, the capital’s Alfa company attracted 500 million rubles. The funds will be used to build a new plant for the production of reinforced concrete structures and commercial concrete. The area of the facility will be almost 14 thousand square meters. After expansion, the enterprise will increase the output of products used in the construction of residential buildings and significant social and infrastructure facilities. When the project is completed, the city will receive 60 jobs. The plant is planned to be commissioned in 2025.

    The Ankom-med company, which produces medical equipment, was able to attract 150 million rubles to purchase a production site with an area of 1.5 thousand square meters. Thanks to this, the enterprise will increase the volume of manufactured products.

    To receive funds at a preferential rate, you must first enter into a loan agreement and then contact the Moscow Fund for Support of Industry and Entrepreneurship. After the application is approved, you must sign a financial support agreement to compensate for part of the costs of paying interest on the loan. After that, the required amount will be transferred to the company’s account at the bank where the loan is opened. Detailed information can be found on the foundation’s website.

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

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

    http://vvv.mos.ru/nevs/item/145384073/

    MIL OSI Russia News –

  • MIL-OSI Russia: Winner of the fourth Tender Hack hackathon in 2024 has been determined

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    In Yekaterinburg, at the fourth Tender Hack hackathon this year, organized by the Moscow City Department for Competition Policy, the winner was determined. This was reported by the head of the department Kirill Purtov.

    The developers faced a unique challenge for the competition series: they had to create a custom version of the mascot, a signature, recognizable character. for the supplier portal.

    “This time, we asked the participants to demonstrate not only technical skills, but also a creative approach and think about visualizing the AI assistant in the context of user interaction with the system. The character on the screen will accompany customers and suppliers during work on the portal and will become an important tool in implementing business processes, making them more understandable and accessible. After testing, the winning team’s practice is planned to be implemented on the site,” said Kirill Purtov.

    The hackathon participants were able to fully immerse themselves in the sphere of public procurement: they attended thematic master classes, consultations with experts from the supplier portal, and employees of the capital’s departments. on competition policy And information technology, as well as the electronic trading platform “RoselTorg”.

    As noted by the Moscow Department of Information Technology, the hackathon format allows both young and experienced specialists from all over the country to apply their knowledge and work on solving a pressing problem of one of the capital’s digital projects.

    The winner of the tournament was the Visuals team of students from the Sverdlovsk Art College named after I.D. Shadr. The second place was taken by the Inverse team from Yekaterinburg, and the third place was taken by the Echpochmak team from the Kazan National Research Technical University named after A.N. Tupolev. In total, more than 80 developers, designers and marketers from five regions of Russia took part in the competition, uniting into 19 teams.

    Earlier this year, three Tender Hack hackathons took place in Moscow, Vladivostok And Perm. The next event will be held in St. Petersburg on November 8–10. Participation in all competitions in the series is free.

    The capital’s supplier portal received the “Hackathons of Russia” award

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

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

    https://vvv.mos.ru/nevs/item/145318073/

    MIL OSI Russia News –

  • MIL-OSI China: Legendary landscape painting brought to life in dance film

    Source: China State Council Information Office 3

    A poster for “A Tapestry of a Legendary Land.” [Image courtesy of China Film Group]

    “A Tapestry of a Legendary Land,” a dance film inspired by the famous landscape scroll painting “Qian Li Jiang Shan Tu,” or “A Thousand Miles of Streams and Mountains,” is now screening in theaters across China.

    Released nationwide on Oct. 1, the film tells the story of a cultural relic researcher who, while immersed in studying this nearly 12-meter-long scroll, travels through centuries to connect with the artist and understand how the masterpiece was created.

    This painting from the Northern Song Dynasty (960-1126) is the only surviving work of prodigy court painter Wang Ximeng. It depicts a panoramic view of mountains and rivers and is celebrated as a hallmark of blue-green landscape painting, a style that uses mineral-based pigments like malachite (green) and azurite (blue) to create bold, vibrant colors.

    In 2021, the theatrical dance show “A Tapestry of a Legendary Land” premiered to positive reviews. It gained widespread popularity across the country after parts of the show were staged during the 2022 Spring Festival Gala and became a hit.

    The film, an adaptation of the original dance show, was produced with the same cast and creative team from the stage production. It has raked in over 40 million yuan (about 5.6 million U.S. dollars), making it the third-highest-grossing domestic musical film on the Chinese mainland and earning an 8 out of 10 rating on the popular film platform Douban.

    “Using dance to express the artistic conception of traditional Chinese painting is an excellent idea. The film achieves a harmonious blend of style and color, creating a visually stunning experience,” commented a netizen on Douban.

    The directors of the film, who also helmed the dance show, expressed hope that the movie could serve as both an extension of the show and an interpretation of the painting. The film uses blue and green — the painting’s most distinct characteristics — as its basic colors, featuring no spoken dialogue to emphasize the dance performance.

    “Not using dialogue in the creation of the film was a significant challenge,” said Han Zhen, co-director of the film, noting that they made the choice out of respect for dance and the dance show.

    “We believe that Chinese culture possesses a unique ability to convey genuine emotions and resonate with audiences through silent performances,” added Han, who is also a very experienced choreographer.

    She believes that film is an excellent medium for promoting traditional culture. “The immersive experience of cinema allows the audience to truly appreciate the unique beauty of this unparalleled painting,” Han said, adding that she hopes their film will create more opportunities for integrating film and dance arts.

    For the cast members, who have performed in 600 shows across 71 cities over the past three years, appearing in the film allows their performances to endure longer and reach a wider audience.

    “I’m grateful to have my most beautiful youth captured in this film. As we grow older and experience more challenges or injuries, I’m unsure how much longer I can continue to dance on stage,” said Xie Suhao, who portrays the cultural relic researcher in the production.

    Zhang Han, who portrays Wang Ximeng, the gifted painter believed to have died shortly after completing the masterpiece at just 18 years old, expects the film to reach “the widest and farthest audience,” far beyond the limited number of viewers able to see the dance show in theaters.

    According to Jing Xiaoyong, chairman of China Oriental Performing Arts Group, a co-producer of both the film and the dance show, China needs to develop its own dance films and promote dance and music productions as a means of fostering international exchange.

    “From online literature to internet-based films and stage productions, art knows no boundaries,” said Jing, adding that the production company aims to explore more innovative approaches to revitalize traditional culture. 

    MIL OSI China News –

  • MIL-OSI Russia: To the participants of the annual meeting of the BRICS Business Council

    MILES AXLE Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    The annual meeting of the BRICS Business Council and the BRICS Business Forum will be held in Moscow on October 17-18.

    Dear friends!

    I am pleased to welcome the participants of the annual meeting of the BRICS Business Council.

    Since its establishment, the Business Council has become a popular and effective mechanism for strengthening economic cooperation among BRICS countries. It plays an important role in building a dialogue among the business community.

    In the context of ongoing geopolitical transformations, our association faces large-scale tasks. Given the growing sanctions pressure, the disregard of international law and WTO rules by a number of countries, as well as the restructuring of trade and logistics chains, it is necessary to strengthen the global economic system, ensure access to new markets, and create additional opportunities for business. All this is reflected in the priorities of the Russian presidency of BRICS.

    We consider it important to increase the volume of e-commerce and unlock the potential of artificial intelligence. It is important to develop digital entrepreneurship, improve the conditions for the active implementation of modern technologies by large companies, small and medium-sized enterprises. To solve this problem, it is necessary to ensure joint research and development, the adoption of common ethical standards, the exchange of experience and best regulatory practices. All this will help simplify business contacts and give impetus to the economic growth of our countries.

    We expect that the business community will make a significant contribution to the overall work in all areas of financial and economic cooperation and, in general, will contribute to increasing the role of BRICS in global governance mechanisms, promoting a more equitable system of international relations, and strengthening the association in its status as an organizing principle for the countries of the global South.

    I wish the meeting participants fruitful discussions and all the best!

    M. Mishustin

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

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

    http://government.ru/gov/persons/151/telegrams/53018/

    MIL OSI Russia News –

  • MIL-OSI: WOO Innovation Hub and Almanak Partner to Drive AI-Powered Optimization in DeFi

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Oct. 17, 2024 (GLOBE NEWSWIRE) — As part of the broader WOO Ecosystem, which includes the WOOFi protocol, a leading decentralized exchange, and WOO X, a global centralized exchange, the WOO Innovation Hub is excited to announce a new strategic partnership with Almanak, an agent-centric platform that allows users to develop, optimize, and deploy financial strategies using AI agents. This collaboration brings cutting-edge artificial intelligence (AI), machine learning (ML), and data science technologies to the forefront of decentralized finance (DeFi) development.

    Almanak is at the forefront of AI innovation in DeFi, providing AI agent-based tools that allow users to navigate the complexities of financial markets with unparalleled accuracy and speed. Their platform is designed to equip both institutional and retail users with intelligent agents capable of autonomously managing and growing portfolios while adapting to real-time market conditions. Whether optimizing yield, managing risk, or developing entirely new strategies, Almanak’s mission is to empower users with personalized financial superintelligences that transform how individuals and institutions interact with DeFi.

    Through this partnership, WOOFi is bringing the power of Almanak’s AI-driven technology directly to its community, providing developers, traders, and liquidity providers with access to tools that will help them excel in the competitive DeFi landscape.

    Abby Huang, WOO Innovation Hub Lead, said: “This partnership with Almanak underscores our commitment to integrating the most advanced AI and machine learning technologies available today. Together, we are providing the tools needed to ensure that our community stays ahead in the fast-evolving DeFi ecosystem.”

    Michael Herzyk, Almanak CEO stated: “We’re thrilled to partner with WOOFi and bring our AI agents into such a thriving DeFi ecosystem. Our agents are designed to optimize financial strategies, and with WOOFi’s extensive user base and liquidity pools, we believe this collaboration will unlock new opportunities for growth and innovation in decentralized finance.”

    Contact Us: ecosystem@woo.network

    About WOOFi
    WOOFi is a leading decentralized exchange (DEX) with over $42B in cumulative trading volume and more than 250k monthly active users. It supports 11 blockchains and offers a diverse range of products, including earn vaults, simple swaps, cross-chain swaps, and perpetual futures. The native token of WOOFi, WOO, can be staked to share 80% of all protocol fees.

    About Almanak: Almanak is an agent-centric platform that allows users to develop, optimize, and deploy financial strategies using AI-driven agents. Its platform equips users with the tools to create autonomous, self-improving agents that can manage and grow portfolios by adapting to changing market conditions in real-time. Built by experts from tech & finance, and backed by top VCs, Almanak leverages state-of-the-art machine learning models and reinforcement learning techniques to provide continuous optimization of financial strategies. Users that wish to learn more and get early exposure to Almanak – related opportunities, can already sign-up for an Almanak early access waitlist.

    Disclaimer

    The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The information provided in this article is for general informational purposes only and does not constitute financial, investment, legal, or professional advice of any kind.

    Cryptocurrencies involve significant risk and are NOT suitable for the majority of investors. The value of digital currencies can be extremely volatile, and you should carefully consider your investment objectives, level of experience, and risk appetite before participating in any staking or investment activities. We strongly recommend that you seek independent advice from a qualified professional before making any investment or financial decisions related to cryptocurrencies. We shall in NO case be liable for any loss or damage arising directly or indirectly from the use of or reliance on the information contained in this article.

    The collaboration between WOO and Almanak highlighted in the content above does not indicate in any way that WOO provides, or will provide financial service. WOO does NOT endorse, guarantee or provide advice for any products or services of its business partners. This cooperation shall in no event be interpreted as an assurance or guarantee for the listing of any tokens, whether presently existing or to be generated in the future, on WOO X or any associated exchange platforms, nor does it imply any commitment from WOO X to list any tokens on its platforms or others. The decision to list any tokens is governed by and subject to a series of separate criteria and procedures, independent of this cooperation or business partnership.

    Nothing in this article or any related content shall be construed to create or suggest the existence of a partnership, joint venture, agency relationship, or any form of legal association between WOO and Almanak. Each party is an independent entity, acting solely in its own capacity, and is responsible for its own actions, decisions, and associated risks. The collaboration mentioned does not imply any form of shared liability or financial obligation, and each party will bear its own risks and responsibilities. Furthermore, this article should not be interpreted as providing any guarantees regarding the outcome of any business ventures or collaborations mentioned, nor shall be an indication of guaranteed success or profitability for either WOOFi, WOO X or Almanak, or any of their business partners.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/02d9029a-02bc-4e0f-ad8c-287d7b4120ca

    The MIL Network –

  • MIL-OSI: Lantronix Unveils SmartLV, the First AI-Enabled IoT Edge Compute Cellular Gateway, Powered by Qualcomm

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., Oct. 17, 2024 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), a global leader of compute and connectivity IoT solutions, has launched SmartLV, powered by the Qualcomm® IQ-615 processor, the first AI-enabled IoT Edge Compute Cellular Gateway. This groundbreaking innovation, designed specifically for low-voltage substations and distribution automation applications in next-generation smart grids, utilities and industrial sectors, will debut at Enlit Europe, Oct. 22–24, 2024, in Milan, Italy.

    SmartLV is engineered to revolutionize real-time visibility, control and automation in the energy sector, providing Distribution System Operators (DSOs) with the ability to manage and steer energy precisely when and where it’s needed. Built with advanced cybersecurity protocols and AI capabilities, the SmartLV ensures robust, reliable and secure operations for mission-critical applications, offering unmatched control over low-voltage substations and Distributed Energy Resources (DERs).

    “The SmartLV Gateway is a leap forward in empowering utility operators with critical, real-time insights and control over their low-voltage substations,” said Mathi Gurusamy, Chief Strategy Officer at Lantronix. “By utilizing Qualcomm Technologies’ AI technology, this solution helps to address today’s most pressing challenges at the edge of the smart grid.”

    AI at the Edge: Transforming Energy Management

    With growing demand for smarter and greener energy grids, the SmartLV Gateway empowers DSOs to anticipate and respond to real-time grid conditions, optimizing energy flow and ensuring stability even during peak loads. This AI-driven platform doesn’t just monitor; it enables intelligent energy steering and dynamic decision-making at the edge.

    “SmartLV exemplifies the fusion of AI and connectivity in tackling critical challenges within smart grids. Qualcomm® and Lantronix are enabling DSOs to have enhanced control and insights into the distribution network, transforming how energy is delivered and consumed and accelerating the grid transformation in Europe,” added Sebastiano Di Filippo, Senior Director of Business Development at Qualcomm Europe Inc.

    SmartLV Gateway key features include:

    • Multi-protocol communication: Seamlessly integrates with existing infrastructure via Ethernet, Serial, I/O and Industrial Protocol conversion suites, offering flexibility across legacy and modern systems.
    • High-speed connectivity: Future-resilient with LTE and 5G-ready high-speed cellular communication for reliable, low-latency operations.
    • Edge computing for real-time decisions: AI-enabled edge computing that powers low-latency analysis, enabling split-second decision-making directly at the substation.
    • Advanced cybersecurity: Fortified with Lantronix’s InfiniShield™ security framework to defend against cyber threats, ensuring uninterrupted operations.
    • Simplified management with Lantronix’s Percepxion™ IoT Edge Platform: Offers seamless management with global cellular plans, VPN security and an easy-to-use cloud platform to monitor and control deployments.
    • Energy Steering Automation: Provides automated, real-time control of DERs based on actual grid conditions to ensure efficient energy flow.  

    Innovation Fueled by a Long-Standing Collaboration

    The SmartLV Gateway is the latest innovation in a 15-year relationship, combining Qualcomm Technologies’ industry-leading AI and connectivity with Lantronix’s expertise in IoT solutions for industrial and smart grid applications.

    Availability

    The SmartLV Gateway is scheduled to launch in CY 2025, with some trials beginning at the end of CY 2024 for selected DSOs. For more information or to schedule a demo, visit Hall 5, MR10.

    About Lantronix   

    Lantronix Inc. is a global leader of compute and connectivity IoT solutions that target high-growth industries including Smart Cities, Automotive and Enterprise. Lantronix’s products and services empower companies to succeed in the growing IoT markets by delivering customizable solutions that address each layer of the IoT Stack. Lantronix’s leading-edge solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing. 

    For more information, visit the Lantronix website. 

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of federal securities laws, including, without limitation, statements related to the SmartLV AI-Enabled IoT Edge Compute Cellular Gateway for Qualcomm developers. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 9, 2024; as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. The forward-looking statements included in this release speak only as of the date hereof, and we do not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances. 

    © 2024 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners. 

    Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries
    Qualcomm is a trademark or registered trademark of Qualcomm Incorporated 

    Lantronix Media Contact:         
    Gail Kathryn Miller 
    Corporate Marketing & 
    Communications Manager 
    media@lantronix.com 
    949-212-0960 

    Lantronix Analyst and Investor Contact:         
    investors@lantronix.com

    The MIL Network –