NewzIntel.com

Category: Business

  • MIL-OSI Germany: Together for Frankfurt: New corporate initiative supports social projects in the city’s station district

    Source: Deutsche Bundesbank in English

    A joint initiative by companies and institutions based in and around Frankfurt’s Bahnhofsviertel – the district surrounding its central railway station – intends to help improve the difficult situation in the area. Known as the BHV corporate initiative (BHV being an acronym for Bahnhofsviertel), it aims to make a positive contribution to the district and support selected social projects through constructive dialogue with the city. Representatives of the participating companies presented the initiative at a joint event today with Frankfurt’s mayor Mike Josef. Speaking at the K9 advice centre, one of the welfare facilities to receive financial support from the BHV corporate initiative, they reaffirmed their commitment to the district and called for further intensive efforts to find solutions to the area’s problems.
    Mayor Josef highlighted the following: When I took office one and a half years ago, a particularly important topic was the situation in the station district. And it remains so to this day. The many meetings I have had over the past few months have included conversations with companies, their representatives and employees based in or near the station district. It has become clear that the situation in the district needs to change. He went on to say: I am pleased that many conversations have been very constructive. With the BHV corporate initiative, several companies and institutions have decided to provide financial support to social facilities in the station district. I would like to take this opportunity to express my sincere thanks for this.
    We have joined forces in a cross-sectoral initiative to improve the situation in the station district for people who spend time here for a multitude of different reasons. We want to achieve this by supporting tangible projects, said Stephan Bredt, chief operating officer at the Bundesbank, one of the institutions bringing ideas to the joint initiative. The Bundesbank, which has offices in and around the station district, is happy to contribute to its success by getting involved and providing good ideas. We see ourselves at the beginning of a long-term undertaking and invite other interested parties to join in.
    The BHV corporate initiative, which currently comprises eleven companies and institutions with around 26,000 employees in and around the station district, is supporting various aid projects for people in need. Indirectly, these may also help to improve the district’s appearance. In a first step, the initiative will support four facilities in the district with funding of €100,000 each:
    The K9 advice centre for projects that help people with drug addiction regain a foothold in labour market;
    La Strada drug help centre to extend and renovate its community café and drug consumption rooms and expand its provision of medical care;
    The night café on Moselstrasse to provide warm meals for people battling addiction;
    Malteser Werke to expand their emergency medical service in the district as part of their proactive social work.
    As a gateway to the city, the station district has great economic, cultural and social potential. In order to harness this, the current problems need to be tackled on a lasting basis, said Christian Sewing, CEO of Deutsche Bank, speaking on behalf of the companies involved. We welcome the initiative of the mayor and the municipal administration of Frankfurt to develop and implement forward-looking solutions for the station district. It is important that initial improvements are now quickly followed by further tangible steps. As corporate citizens, we want to exercise our social responsibility and make an active contribution to improving the situation and unlocking the district’s full potential.
    The participants of the BHV initiative are making a long-term commitment. In addition to the specific financial support to social facilities provided by the companies involved, the initiative aims to liaise closely with the city on the progress made in the district. Moreover, participants are harnessing the initiative to improve the exchange of information with regard to the challenges and opportunities in the district. Other companies and institutions that would like to get involved are welcome to join at any time.
    Current participants
    Bank of America
    Deutsche Bundesbank
    Deutsche Bank
    Deutsche Vermögensberatung
    DWS
    DZ Bank
    Frankfurter Volksbank Rhein-Main
    Helaba
    Merz Pharma
    Momeni Group
    Nestlé Deutschland

    MIL OSI

    MIL OSI German News –

  • MIL-OSI: Kvika banki hf.: Publication of Financial Results and Capital Markets Day

    Source: GlobeNewswire (MIL-OSI)

    The Board of Directors of Kvika banki hf. is set to approve the financial statements of the Group for the third quarter and the first nine months of 2024 at a board meeting on Wednesday 6 November. The financial statements will subsequently be published after domestic markets have closed.

    On Thursday, November 7, a presentation for shareholders and market participants will be held as a part of Kvika’s Capital Markets Day. During the event, Kvika’s management will present the company’s strategic priorities following the expected sale of TM, and provide an overview of the key highlights from the third quarter financial results.

    The event will take place at Harpa’s Northern Lights Hall from 12:00 to 16:00. The presentation will be conducted in Icelandic and a live stream of the event will be available. 

    The registration deadline for the event is October 25 and you can register here. Please note that registration for the event is limited due to capacity restraints.

    Further information please contact Kvika‘s investor relations. ir@kvika.is

    The MIL Network –

  • MIL-OSI: reAlpha’s ‘Be My Neighbor’ Secures Mortgage Broker License in New Mexico

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, Ohio, Oct. 17, 2024 (GLOBE NEWSWIRE) — reAlpha Tech Corp. (“reAlpha” or the “Company”) (Nasdaq: AIRE), a real estate technology company developing and commercializing artificial intelligence (“AI”) technologies, today announces the operational expansion of its subsidiary, Be My Neighbor (“BMN”). BMN, a veteran-operated mortgage brokerage company, has obtained its broker license in the State of New Mexico.

    “Securing this license in New Mexico is a pivotal step in our expansion strategy,” said Nathan Nottingham, Chief of Staff of BMN. “We’re excited to bring our client-focused mortgage services to New Mexico, providing residents with a more personalized and efficient home financing experience.”

    As part of its strategic growth plan, BMN will continue to expand into additional states, delivering accessible, transparent, and community-driven mortgage solutions.

    About reAlpha Tech Corp.
    reAlpha Tech Corp. (Nasdaq: AIRE) is a real estate technology company developing an end-to-end commission-free homebuying platform. Utilizing the power of AI and an acquisition-led growth strategy, reAlpha’s goal is to offer a more affordable, streamlined experience for those on the journey to homeownership. For more information, visit http://www.realpha.com.

    About Be My Neighbor
    Debt Does Deals, LLC (d/b/a Be My Neighbor) is a veteran-operated mortgage brokerage company operating in 27 states. The company believes that one house has the power to make a life-changing impact for a family and future generations. Their mission is to bring humanity back into the biggest financial real estate decision that a person will make in their lifetime by showing them how to build generational wealth through smart real estate decisions and actually enjoy the process along the way. For more information, visit bemyneighbor.mortgage.

    Forward-Looking Statements
    The information in this press release includes “forward-looking statements”. Forward-looking statements include, among other things, statements about BMN’s recently acquired broker license in New Mexico; the anticipated benefits of BMN’s expansion into New Mexico and plan to expand into additional states; reAlpha’s and BMN’s ability to anticipate the future needs of the short-term rental market; future trends in the real estate, technology and artificial intelligence industries, generally; and reAlpha’s and BMN’s future growth strategy and growth rate. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha’s limited operating history and that reAlpha has not yet fully developed its AI-based technologies; reAlpha’s ability to commercialize its developing AI-based technologies; whether reAlpha’s technology and products will be accepted and adopted by its customers and intended users; reAlpha’s ability to integrate the business of BMN into its existing business and the anticipated demand for BMN’s services in any of the markets reAlpha or BMN operates or provide services in; BMN’s ability to expand into additional states; reAlpha’s ability or the inability to maintain and strengthen reAlpha’s brand and reputation; the inability to accurately forecast demand for short-term rentals and AI-based real estate focused products; the inability to execute business objectives and growth strategies successfully or sustain reAlpha’s growth; the inability of reAlpha’s customers to pay for reAlpha’s services; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha’s U.S. Securities and Exchange Commission (“SEC”) filings.

    Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements.

    Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha’s future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements.

    For more information about the factors that could cause such differences, please refer to reAlpha’s filings with the SEC.

    Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Company Contact
    Investor Relations
    investorrelations@realpha.com

    Media Contact
    irlabs on behalf of reAlpha
    Fatema Bhabrawala
    fatema@irlabs.ca

    The MIL Network –

  • MIL-OSI: Axi Celebrates Having Over 17,000 Axi Select Traders Within One Year Of Launch

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, Oct. 17, 2024 (GLOBE NEWSWIRE) — Leading global Forex and CFD broker Axi celebrates the one-year anniversary of the launch of their pioneering capital allocation program, Axi Select. Per the broker, Axi Select breaks away from traditional norms in the prop trading industry; instead, it stands out as the first funded trader-centric program that provides traders with a fair and realistic opportunity to progress into professional trading.

    Indeed, Axi Select seems to have refined the existing models to one that invests in the trader’s potential. Greg Rubin, Head of Axi Select, says: “This past year, we’ve seen Axi Select really stand out among other similar programs by providing real opportunities for success and growth.” The program offers talented traders a pathway to access capital funding up to $1,000,000 USD and earn up to 90% of their profits, as well as the advantage to join the program with zero registration or monthly fees*. Moreover, Axi Select uses a Standard or a Pro live account, unrestrictive trading conditions, and a suite of tools to help traders on their trading journey.

    The reception of the program has been phenomenal – since its launch in 2023, over 17,400 traders have joined Axi Select. Per Axi, September was a record month for Axi Select as the one-year celebration came with over $440K in trader payouts. Seasoned trader Moises C. comments on the program: “Axi Select’s leading and professional capital allocation program offers unmatched returns for traders. I believe it to be a benchmark of excellency within the industry that has transformed my life.”

    To celebrate their one-year anniversary, Axi hosted an insightful discussion where Greg Rubin answers the most frequently Axi Select questions asked over the past year. You can view the video here: https://youtu.be/IZKwiox88I8.

    About Axi

    Axi is a global online FX and CFD trading company, with thousands of customers in 100+ countries worldwide. Axi offers CFDs for several asset classes including Forex, Shares, Gold, Oil, Coffee, and more.

    Contact: mediaenquiries@axi.com

    *Standard trading fees apply.

    The Axi Select program is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available to AU, NZ, EU and UK residents. For more information, refer to our Terms of Service.

    The MIL Network –

  • MIL-OSI: Beam Global Launches BeamWell™ Water Desalination and Delivery System to Provide Clean Water and Electricity in Crisis Zones

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Oct. 17, 2024 (GLOBE NEWSWIRE) — Beam Global, (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, today announced the official launch of the BeamWell™ water desalination and e-mobility delivery system. This solution is designed to address critical needs for clean drinking water, mobility and electricity in regions facing humanitarian crises.

    The BeamWell™ product is based on the patented EV ARC™ system and is a self-sufficient, self-contained operational system for use in war zones and remote or disaster areas where only salt, brackish or dirty water is available because a reliable clean water supply is not available or has been interrupted. The BeamWell™ system provides three essential services to regions in crisis: it turns seawater into fresh water, which is then stored in an integrated 3000-liter tank that is replenished daily; it provides a source of electricity which can be used for medical or communications devices as well as cooking and lighting; and it charges four integrated and bundled Benzina Zero electric mopeds for the rapid distribution of food, water, medications or other vital resources, to those in need.

    “We are living in unprecedented times when wars and natural disasters such as the recent hurricanes in the U.S. are becoming commonplace,” said Desmond Wheatley, CEO of Beam Global. “At the same time 40% of the world’s population lives by the sea and in areas which are most prone to natural disasters. By providing a container-transportable, rapidly deployed, off-grid power source paired with desalination and e-mobility, we are addressing three of the most essential needs in crisis situations: clean water, reliable power and the means to distribute aid. Beam Global is on a mission to make a real difference in the lives of those who are suffering.”

    Enabled by Beam Global’s patented EV ARC™ platform, the BeamWell™ system is completely self-contained, shipping-container-transportable, and deploys in minutes with no construction, no electrical work and no requirement for any supporting infrastructure. It can be relocated as water supply challenges fluctuate. Beam Global EV ARC™ technology, which has already been successfully deployed thousands of times worldwide, uses patented tracking solar technology to generate and store clean energy for e-mobility. The BeamWell™ solution will also use this renewable energy to desalinate water and provide power and a means of delivering aid.

    Recent estimates suggest around 60 million people in the Middle East and North Africa (MENA) lack access to clean and safe drinking water. As of October 2024, the water crisis in Gaza is severe, with nearly 2.3 million residents facing restricted access to clean water due to the ongoing conflict and damage to water infrastructure. This lack of access to clean water is contributing to a public health crisis, as waterborne diseases are spreading rapidly. Aid deliveries have included water, but the quantities are grossly insufficient to meet the needs of the entire population​, and many organizations are having trouble providing continued support throughout the region during the prolonged conflict.

    Beam Global is finalizing deployment plans, with the first BeamWell™ systems expected to be delivered to the Middle East through global aid organizations as soon as possible. This U.S.-based company’s collaboration with governments, NGOs and other international partners represents a significant step toward addressing urgent needs in regions affected by conflict and humanitarian crises.

    For more information on the BeamWell™ water treatment system contact the Beam Team at BeamTeam@BeamForAll.com.  

    About Beam Global

    Beam Global is a clean technology innovator which develops and manufactures sustainable infrastructure products and technologies. We operate at the nexus of clean energy and transportation with a focus on sustainable energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage and vital energy security. With operations in the U.S. and Europe, Beam Global develops, patents, designs, engineers and manufactures unique and advanced clean technology solutions that power transportation, provide secure sources of electricity, save time and money and protect the environment. Headquartered in San Diego with facilities in Chicago, Belgrade and Kraljevo, Beam Global has a deep patent portfolio and is listed on Nasdaq under the symbol BEEM. For more information visit BeamForAll.com, LinkedIn, YouTube and X (formerly Twitter).

    Forward-Looking Statements

    This Beam Global Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results. These statements relate to future events or future results of operations. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Beam Global’s actual results to be materially different from these forward-looking statements. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.

    Media Contact:
    Skyya PR
    +1 651-335-0585
    Press@BeamForAll.com

    Investor Relations:
    Core IR
    +1 516-222-2560
    IR@BeamForAll.com

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/ecc68fa3-dd8d-430e-a9c6-41ed4143d62d

    https://www.globenewswire.com/NewsRoom/AttachmentNg/9d93d87a-8cd6-488e-adec-1ec911d01850

    The MIL Network –

  • MIL-OSI Banking: Brazil’s Prosecutor General requests the closure of unfounded investigation into Transparency International

    Source: Transparency International

    Brazil’s Prosecutor General, Paulo Gonet, has requested the dismissal of an investigation into Transparency International, citing a lack of evidence and the absence of concrete facts indicating any criminal conduct.

    The investigation was based on false claims that Transparency International received funds from leniency agreements related to Operation Car Wash, a probe that exposed a vast corruption scheme within Brazilian state-owned enterprises nearly a decade ago.

    In February, the Supreme Court Justice Dias Toffoli ordered an investigation into Transparency International, just a week after Transparency International published its 2023 Corruption Perceptions Index, which highlighted setbacks in Brazil’s fight against corruption. The analysis specifically drew attention to Justice Dias Toffoli’s recent decision to invalidate evidence and suspend fines for corruption involving the large Brazilian companies Odebrecht (now Novonor) and J&F.

    The Prosecutor General’s decision this week to request the dismissal of the case is also based on the lack of jurisdiction of the Supreme Court and, in particularly Justice Toffoli, to investigate such allegations. This raises concerns about a growing trend of baseless attacks targeting civil society organisations that work to expose corruption in Brazil.

    François Valérian, Chair of Transparency International, said:

    “The attacks against Transparency International in Brazil, as in other parts of the world, are a direct response to our actions exposing corruption and underscore the importance of our work in confronting powerful interests.

    “However, this should never be normalised or tolerated. The freedom and safety of activists and other professionals working in the public interest, such as investigative journalists, are fundamental elements of a democracy.”

    Bruno Brandão, Executive Director Transparency International Brazil, said:

    “Baseless attacks will not silence Transparency International Brazil and our mission to fight corruption. Our resolve is stronger than ever, and we will continue to expose wrongdoing, advocate for the protection of civic space and the rights of citizens and civil society to express their concerns and demand justice.”

    Note to editors

    See also:

    • Transparency International Brazil’s statement.

    MIL OSI Global Banks –

  • MIL-OSI Economics: Identity theft: BaFin warns consumers about the website fips-finance.com

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) has information that the company FIPS Finance & Development is providing financial services in Germany on its website fips-finance.com without the required authorisation. The company is not supervised by BaFin. Customers are incorrectly led to believe that the website is operated by an Austrian company that is registered in the Austrian company register. This is not the case. It is a case of identity fraud.

    Anyone wishing to conduct banking business or provide financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation.

    BaFin is issuing this information on the basis of section section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics –

  • MIL-OSI: Carbon Streaming Initiates Claims in Connection With the Rimba Raya Project

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 17, 2024 (GLOBE NEWSWIRE) — Carbon Streaming Corporation (Cboe CA: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) today announces that on October 16, 2024 it initiated arbitration proceedings and an Ontario court action to enforce its legal and contractual rights under the Rimba Raya PSA (as defined below). The Company had previously indicated that it would be evaluating all legal avenues to enforce its legal and contractual rights under the Rimba Raya PSA, the SAA (as defined below) and related agreements. Initiating the arbitration proceedings and the Ontario court action are an important step in preserving the Company’s legal and contractual rights.

    The Company delivered a Notice of Arbitration to Infinite-Earth Limited and PT Infinite Earth Nusantara, the operators of the Rimba Raya project (“Infinite-Earth”) in accordance with the purchase and sale agreement between the Company and Infinite-Earth dated July 30, 2021, as amended on February 28, 2023 (the “Rimba Raya PSA“); a Notice of Arbitration to the shareholders of Infinite-Earth Limited in accordance with the strategic alliance agreement between the Company and the shareholders of Infinite-Earth Limited dated July 30, 2021, as amended on November 17, 2021 (the “SAA”); and issued a Notice of Action in the Ontario Superior Court of Justice seeking declaratory relief against the principals of Infinite-Earth Limited and their related entities.

    The dispute between the Company, Infinite-Earth, and the principals of Infinite-Earth Limited arises out of acts and omissions that the Company alleges are improper and in breach of the Rimba Raya PSA, the SAA, and related agreements.

    On April 26, 2024, the Company announced that it was informed that PT Rimba Raya Conservation (“PT Rimba”), the local concession holder for the Rimba Raya project, had its Forest Utilization Business License (the “Concession License”) revoked by the Indonesian Government’s Ministry of Environment and Forestry (the “MOEF”). On May 15, 2024, the Company announced its financial results for the three months ended March 31, 2024, and determined the fair value of the Rimba Raya PSA to be nil. On July 11, 2024, the Court reached a decision on the claim filed by PT Rimba against the MOEF before the State Administrative Court of Jakarta (the “Court of Jakarta”) challenging the MOEF’s revocation of the Concession License and declared the MOEF’s revocation of the Concession License to be void. The MOEF subsequently appealed the Court of Jakarta’s decision, and on September 30, 2024, the Court of Jakarta upheld its decision. The MOEF has until Friday, October 18, 2024, to initiate an appeal to overturn the decision to the Supreme Court of Jakarta.

    For a comprehensive discussion regarding the risks, assumptions and uncertainties that could further impact the Rimba Raya project and the Rimba Raya PSA, including without limitation, concerning the legal status of the Concession License and the Rimba Raya PSA, investors are urged to review the section of the Company’s management’s discussion and analysis for the three months ended June 30, 2024 dated as of August 12, 2024 entitled “Strategy and Outlook – Indonesia Update”, the section of the Company’s Annual Information Form dated as of March 27, 2024 entitled “Risk Factors” and the press releases dated April 26, 2024, May 15, 2024 and May 21, 2024, copies of which are available on SEDAR+ at http://www.sedarplus.ca.

    About Carbon Streaming

    Carbon Streaming aims to accelerate a net-zero future. We pioneered the use of streaming transactions, a proven and flexible funding model, to scale high-integrity carbon credit projects to advance global climate action and additional United Nations Sustainable Development Goals. This approach aligns our strategic interests with those of project partners to create long-term relationships built on a shared commitment to sustainability and accountability and positions us as a trusted source for buyers seeking high-quality carbon credits.

    The Company’s focus is on projects that have a positive impact on the environment, local communities, and biodiversity, in addition to their carbon reduction or removal potential. The Company has carbon credit streams and royalties related to over 20 projects around the world, including high-integrity removal, reduction and avoidance projects from nature-based, agricultural, engineered and community-based methodologies.

    To receive corporate updates via e-mail, please subscribe here. 

    ON BEHALF OF THE COMPANY:
    Christian Milau, Interim Chief Executive Officer
    Tel: 647.846.7765
    info@carbonstreaming.com
    http://www.carbonstreaming.com

    Investor Relations
    investors@carbonstreaming.com

    Media
    media@carbonstreaming.com

    Advisories

    The references to third party websites and sources contained in this news release are provided for informational purposes and are not to be considered statements of the Company.

    Cautionary Statement Regarding Forward-Looking Information

    This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking information, including, without limitation: statements regarding acts and omissions of Infinite-Earth and the shareholders and principals of Infinite-Earth Limited; and statements with respect to the status of the Concession License held by PT Rimba with the MOEF.

    When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “will”, “believes”, “intends” “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking statements. This forward-looking information is based on the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. They should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the outcome of the final ruling with respect to the revocation of the Concession License held by PT Rimba; general economic, market and business conditions and global financial conditions, including fluctuations in interest rates, foreign exchange rates and stock market volatility; volatility in prices of carbon credits and demand for carbon credits; change in social or political views towards climate change, carbon credits and ESG initiatives and subsequent changes in corporate or government policies or regulations and associated changes in demand for carbon credits; limited operating history for the Company’s current strategy; risks arising from competition and future acquisition activities; concentration risk; inaccurate estimates of growth strategy; dependence upon key management; impact of corporate restructurings; reputational risk; failure or timing delays for projects to be registered, validated and ultimately developed and for emission reductions or removals to be verified and carbon credits issued (and other risks associated with carbon credits standards and registries); foreign operations and political risks including actions by governmental authorities, including changes in or to government regulation, taxation and carbon pricing initiatives; uncertainties and ongoing market developments surrounding the validation and verification requirements of the voluntary and/or compliance markets; due diligence risks, including failure of third parties’ reviews, reports and projections to be accurate; dependence on project partners, operators and owners, including failure by such counterparties to make payments or perform their operational or other obligations to the Company in compliance with the terms of contractual arrangements between the Company and such counterparties; failure of projects to generate carbon credits, or natural disasters such as flood or fire which could have a material adverse effect on the ability of any project to generate carbon credits; volatility in the market price of the Company’s common shares or warrants; the effect that the issuance of additional securities by the Company could have on the market price of the Company’s common shares or warrants; global health crises, such as pandemics and epidemics; and the other risks disclosed under the heading “Risk Factors” and elsewhere in the Company’s Annual Information Form dated as of March 27, 2024 filed on SEDAR+ at http://www.sedarplus.ca.

    Any forward-looking information speaks only as of the date of this news release. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.

    The MIL Network –

  • MIL-OSI: Transocean Ltd. Announces $193 Million Ultra-Deepwater Drillship Contract

    Source: GlobeNewswire (MIL-OSI)

    STEINHAUSEN, Switzerland, Oct. 17, 2024 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced a one-year contract for the Deepwater Conqueror with an undisclosed operator in the U.S. Gulf of Mexico. The contract is expected to commence in October 2025 and contribute approximately $193 million in backlog, including additional services.

    About Transocean

    Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.

    Transocean owns or has partial ownership interests in and operates a fleet of 34 mobile offshore drilling units, consisting of 26 ultra-deepwater floaters and eight harsh environment floaters.

    Forward-Looking Statements

    The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements could contain words such as “possible,” “intend,” “will,” “if,” “expect,” or other similar expressions. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are beyond our control, and in many cases, cannot be predicted. As a result, actual results could differ materially from those indicated by these forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out-of-service time, sales of drilling units, the cost and timing of mobilizations and reactivations, operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the fluctuation of current and future prices of oil and gas, the global and regional supply and demand for oil and gas, the intention to scrap certain drilling rigs, the effects of the spread of and mitigation efforts by governments, businesses and individuals related to contagious illnesses, and other factors, including those and other risks discussed in the company’s most recent Annual Report on Form 10-K for the year ended December 31, 2023, and in the company’s other filings with the SEC, which are available free of charge on the SEC’s website at: http://www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law. All non-GAAP financial measure reconciliations to the most comparative GAAP measure are displayed in quantitative schedules on the company’s website at: http://www.deepwater.com.

    This press release, or referenced documents, do not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and do not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”) or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of Transocean and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Transocean.

    Analyst Contact:
    Alison Johnson
    +1 713-232-7214

    Media Contact:
    Pam Easton
    +1 713-232-7647

    The MIL Network –

  • MIL-OSI Europe: Germany: EIB backs Vay’s launch of teledriven car-sharing services

    Source: European Investment Bank

    Vay

    • The EIB is lending €34 million to German remote-driving company Vay.
    • Berlin-based Vay is set to launch commercial services in Europe.
    • The investment is backed by the European Union’s InvestEU guarantee programme.

    The European Investment Bank (EIB) is lending €34 million to German teledriving technology startup Vay to help it develop its operations in Europe. The EIB loan will enable the Berlin-based company to accelerate the development of technology that enables a vehicle to be safely driven on city streets by a professionally trained human driver located at a remote teledrive station. Vay launched its first commercial service in the US city of Las Vegas in January 2024.

    Vay plans to offer door-to-door car sharing in more cities in Europe and North America, while it also develops business-to-business partnerships with car manufacturers and other strategic players in the sector. 

    “This investment once again demonstrates our commitment to supporting European tech pioneers with global ambitions, like Vay,” said EIB Vice-President Nicola Beer. “Developed here in Europe, their innovative technology opens up new ways to make passenger and goods transport more efficient while delivering clean, efficient and inclusive urban mobility in our cities.”

    Vay’s technology enables professionally trained teledrivers to drive vehicles to the customer’s pick-up location remotely. Once the car arrives, the user takes manual control and drives as with any regular vehicle. After the journey is complete, the user can exit without worrying about parking because a teledriver handles parking or drives the car to the next customer. The system offers more sustainable, door-to-door mobility at half the cost of traditional ride-hailing.

    Teledriving provides the distinct advantage of having a human driver remotely controlling the vehicle in real-time. As a result, the system of teledriven cars is simple to operate and offers a wide range of capabilities. This is different from fully autonomous vehicles, which face a greater number of technical and legal complexities.

    “We are proud that EIB has decided to invest in Vay as these funds will be instrumental in further developing our technology and supporting the company’s growth,” said Co-founder and Chief Executive Officer of Vay Thomas von der Ohe. “We share the same goal and are committed to promoting economic development within the European Union. Moreover, this investment will play a crucial role in strengthening the confidence and trust that EU regulators, partners and consumers have in Vay, paving the way for the commercial rollout of our services in European cities.”

    Vay is the only company in Europe to operate on public roads without a safety driver. At the start of 2024, it expanded its reach by launching a commercial teledriving service in Las Vegas, establishing itself as a pioneer in teledriven vehicles. Committed to creating safer, more sustainable and liveable cities, Vay leverages its teledriving technology to optimise the use of its electric fleet – potentially reducing the number of cars on roads.

    Vay is actively engaging with several cities and states across Europe and the United States to explore future launches of its teledriving service. In 2023, the company successfully conducted test drives without a safety driver on public roads in Hamburg, Germany. Following that significant milestone, Vay has been working closely with German authorities to prepare for the commercial launch of its service in Hamburg.

    The EIB loan is supported by the European InvestEU programme, which aims to trigger more than €372 billion in additional investment in new technologies until 2027. The deal is aligned with the InvestEU objective of promoting research, development and innovation.

    Background information

    The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. Its key priorities are climate and the environment, development, innovation and skills, small and medium companies (SMEs), infrastructure and cohesion. It works closely with other EU institutions to foster European integration, promote the development of the European Union and support EU policies in more than 140 countries worldwide.

    The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

    EIB venture debt is a quasi-equity investment product suitable for early and growth stage ventures, combining a long-term loan with an instrument linking the return to the performance of the company. The EIB has made over  100 venture debt investments since 2015 across Europe, totalling over €2.1  billion. With the backing of InvestEU, the EIB aims to support European ventures and scale-ups in the cleantech, deeptech and life sciences sectors.

    Vay develops automotive-grade technology for remote driving (“teledriving”), paving the way for sustainable and driverless mobility services. In February 2023, Vay became Europe’s first and only company to operate driverless vehicles on public roads. In January 2024, Vay launched its first commercial mobility service in Las Vegas, USA. Founded in Berlin in 2018 by Thomas von der Ohe, Fabrizio Scelsi, and Bogdan Djukic, Vay has 150+ employees and offices in Berlin, Hamburg, and Las Vegas, USA.

    Vay raised a USD 95m Series B funding round, attracting investors worldwide. These include Kinnevik, Coatue, Eurazeo, Atomico, La Famiglia, and Creandum, as well as prominent business angels such as former Alphabet CFO Patrick Pichette, former member of the Management Board for R&D, Design, CTO of Audi Peter Mertens and Spotify’s Chief Technology & Chief Product Officer Gustav Söderström. In 2024, Vay received a EUR 34m investment from the European Investment Bank (EIB).

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    MIL OSI Europe News –

  • MIL-OSI Europe: Press release – European Parliament Press Kit for the European Council of 17 and 18 October 2024

    Source: European Parliament

    European Parliament President Roberta Metsola will represent the European Parliament at the summit, where she will address the heads of state or government at 10.00 and hold a press conference after her speech.

    When: Press conference at around 11.00 on 17 October

    Where: European Council press room and via Parliament’s webstreaming or EbS.

    At their meeting in Brussels, heads of state or government will discuss how the EU can continue supporting Kyiv against Russian aggression, and the EU’s response to the latest events in the Middle East, where Israeli forces continue their attacks on Gaza and in Lebanon, while Iran has launched missiles against Israel. EU leaders will also focus on making the European economy more competitive, following the publication of Mario Draghi’s report, which calls for a boost in public investment and wide-ranging economic reforms. They will also discuss ways to manage migration flows and ensure border protection, climate change and biodiversity, and the situation in Georgia, Moldova, Venezuela and Sudan.

    Hamas terrorist attacks against Israel / Escalating violence in the Middle East

    President Metsola marked the one-year anniversary of terrorist attacks in Israel at the opening of the 7-10 October plenary session in Strasbourg. Recalling the horror of that day “that will live in infamy”, President Metsola said nothing could ever justify the indiscriminate mass murder, rape, kidnapping and torture that occurred one year ago. Since then, too few have been able to make it back to their loved ones – “this house will continue to do what we can to help bring them all home”, she said.

    The 7 October attacks triggered a cycle of war, death and devastation that has seen thousands killed in Gaza, and instability across the region, President Metsola stated. In remembering all those lost and taken, the President added that “Parliament’s calls for the immediate release of the remaining hostages will remain steadfast, our calls for ceasefire will remain resolute, and our efforts towards de-escalation will remain strong.” The work for real, dignified, long-term and sustainable peace will remain unwavering, she concluded. MEPs held a minute of silence in memory of all the innocent lives lost.

    In a resolution adopted on 25 April, MEPs strongly condemn the Iranian drone and missile attack on Israel and call for further sanctions against Iran. Parliament voices serious concern over the escalation and threat to regional security. MEPs reiterate their full support for the security of the State of Israel and its citizens and condemn the simultaneous rocket launches carried out by Iran’s proxies Hezbollah in Lebanon and Houthi rebels in Yemen against the Golan Heights and Israeli territory before and during the Iranian attack.

    At the same time, they deplore the attack on the Iranian consulate in the Syrian capital Damascus on 1 April, which is widely attributed to Israel. The resolution recalls the importance of the principle of the inviolability of diplomatic and consular premises, which must be respected in all cases under international law.

    Further reading

    Parliament marks one year from the October 7th attacks in Israel

    Parliament condemns Iran’s attack on Israel and calls for de-escalation

    Parliament calls on Israel to open all crossings to Gaza for humanitarian aid

    Israel-Hamas war: MEPs call for a permanent ceasefire under two conditions


    MEPs condemn Hamas attack on Israel and call for a humanitarian pause

    Resolution: The despicable terrorist attacks by Hamas against Israel, Israel’s right to defend itself in line with humanitarian and international law and the humanitarian situation in Gaza

    President Metsola at the European Council: EU must remain coherent and united

    Leading MEPs condemn attack by Hamas terrorists against Israel

    MEPs to contact

    David McALLISTER, (EPP, DE), Chair of the Committee on Foreign Affairs

    Marie-Agnes STRACK-ZIMMERMANN (Renew, DE), Chair of the Subcommittee on Security and Defence

    Russia’s war against Ukraine

    On 14 October, MEPs on the Trade Committee endorsed the Commission’s proposal to support Ukraine with an exceptional Macro-Financial Assistance (MFA) loan of up to €35 billion. This is the EU’s contribution under the G7’s initiative to support Ukraine with up to $50 billion (approximately €45 billion) to address Ukraine’s urgent financing needs in the face of Russia’s brutal war of aggression. The repayment of this exceptional MFA loan and of the loans from other G7 countries will come from the extraordinary revenues made from immobilised Russian Central Bank assets, and enabled by the Ukraine Loan Cooperation Mechanism, newly established under the Commission’s proposal. The plenary vote is scheduled during next week’s session in Strasbourg.

    In a resolution adopted on 19 September, MEPs want EU countries to lift current restrictions hindering Ukraine from using Western weapons systems against legitimate military targets in Russia. The text states that if current restrictions are not lifted, Ukraine cannot fully exercise its right to self-defence and remains exposed to attacks on its population and infrastructure. Parliament underlines that insufficient deliveries of ammunition and restrictions on their use risks offsetting the impact of efforts made to date, and deplores that EU countries are offering less bilateral military aid to Ukraine. MEPs reiterate their call for member states to fulfil their March 2023 commitment to deliver one million rounds of ammunition to Ukraine, and to accelerate the delivery of weapons, air defence systems and ammunition, including TAURUS missiles. They also restate their position that all EU countries and NATO allies should collectively and individually commit to annual military support for Ukraine of no less than 0.25% of their GDP.

    While calling on the EU and its member states to actively work towards achieving the broadest possible international support for Ukraine and identifying a peaceful solution to the war, MEPs say that any resolution must be based on full respect for Ukraine’s independence, sovereignty and territorial integrity. They also view holding Russia accountable for war crimes and reparations, and other payments by Moscow, as essential aspects of any solution. To this end, MEPs want the EU and like-minded partners to establish a sound legal regime to confiscate Russian state-owned assets frozen by the EU as part of efforts to compensate Ukraine for the massive damage it has suffered.

    With Russia’s war against Ukraine raging on, Parliament reconfirmed on 17 July its view that the EU must continue to support Kyiv for as long as it takes until victory. The resolution, which sets out the newly-elected European Parliament’s first official position on Russia’s war of aggression against Ukraine, restates MEPs’ continued support for Ukraine’s independence, sovereignty, and territorial integrity within its internationally recognised borders. It calls on the EU to maintain and extend its sanctions policy against Russia and Belarus, monitor and review its effectiveness and impact, and systematically tackle the issue of EU-based companies, third parties, and third countries that circumvent sanctions.

    Further reading

    Ukraine: Trade Committee endorses financial support backed by Russian assets

    MEPs: Ukraine must be able to strike legitimate military targets in Russia

    Newly elected Parliament reaffirms its strong support for Ukraine

    MEPs approve trade support measures for Ukraine with protection for EU farmers

    Joint Statement by the Presidents of the European Union Institutions on the occasion of the 2 year anniversary of the Russian invasion of Ukraine

    Parliament calls on the EU to give Ukraine whatever it needs to defeat Russia

    EU sanctions: new rules to crack down on violations

    MEPs: EU must actively support Russia’s democratic opposition

    Yulia Navalnaya: “If you want to defeat Putin, fight his criminal gang”

    Debate 12 March 2024: Preparation of the European Council meeting of 21 and 22 March 2024

    Debate 13 March 2024: Need to address the urgent concerns surrounding Ukrainian children forcibly deported to Russia

    Parliament wants tougher enforcement of EU sanctions against Russia

    A long-term solution for Ukraine’s funding needs

    How the EU is supporting Ukraine

    EU stands with Ukraine

    MEPs to contact

    David McALLISTER, (EPP, DE) Chair of the Committee on Foreign Affairs

    Marie-Agnes STRACK-ZIMMERMANN (Renew, DE), Chair of the Subcommittee on Security and Defence

    Karin KARLSBRO (Renew, SE), rapporteur on macro-financial assistance to Ukraine

    Competitiveness

    On 17 September, Mario Draghi outlined his blueprint for making Europe more competitive through closer cooperation in core areas and massive investment in shared objectives.

    Mr Draghi said that the EU needed to focus on three crucial issues: closing the innovation gap with the US and China; developing a joint plan to link the goal of decarbonisation with increased competitiveness; and boosting Europe’s security and reducing its dependence on foreign economic powers. A fit-for-purpose competitiveness agenda would require annual funding of between EUR 750 – EUR 800 billion for projects whose objectives were already agreed upon by the EU. Some of this money could come from private sources, but some would also need to be secured through public investment, including by new common debt issued specifically to fund key joint projects, Mr Draghi said.

    In a debate following Mr Draghi’s address, many MEPs agreed with his analysis that the EU economy must urgently change course. The EU should focus, they argued, on competition and innovation in key industries, along with more public and private investments in social, green and digital transformations. Some MEPs called for greater sovereignty and freer markets, and stressed that fighting climate change sabotages the EU economy. Others observed that growth is compatible with clean innovative technologies and social investment, to help citizens to learn new skills.

    Further reading

    Draghi to MEPs: “Europe faces a choice between exit, paralysis, or integration”

    MEPs adopt plans to boost Europe’s Net-Zero technology production

    New EU fiscal rules approved by MEPs

    MEPs to contact

    Borys Budka (EPP, PL), Chair Committee on Industry, Research and Energy

    Migration

    During a press point with the Estonian Prime Minister on 16 October, EP President Roberta Metsola stressed that it is “important that we implement the migration pact. We need to be fair with those eligible for protection, firm with those who are not, and harsh with smugglers and malign states like Belarus or Russia who seek to exploit those most vulnerable. Only a coordinated European approach can ensure the integrity of our borderless Schengen area.”

    On 9 October, Parliament debated how to strengthen the security of Europe’s external borders and the need for a comprehensive approach and enhanced Frontex support. You can watch the debate here. On 7 October, MEPs discussed the reintroduction of internal border controls in a number of member states and its impact on the Schengen Area. Watch the debate here.

    On 10 April, MEPs approved the new Migration and Asylum Pact. The package consists of ten legislative texts to reform the European migration and asylum policy and was agreed with EU member states. You can find the adopted texts here and watch the plenary debate here.

    Further reading

    MEPs approve the new Migration and Asylum Pact

    MEP to contact

    Javier ZARZALEJOS (EPP, ES), Chair of the Committee on Civil Liberties, Justice and Home Affairs

    Foreign affairs: Georgia, Moldova, Venezuela, Sudan

    In a resolution adopted on 9 October, MEPs say current democratic backsliding in Georgia effectively puts the country’s integration with the EU on hold. The text highlights how the ruling Georgian Dream party has pushed an increasingly authoritarian agenda, including on media freedom and LGBTQ+ rights. Coupled with changes to the country’s electoral legislation and growing anti-EU rhetoric, MEPs say these laws violate the freedom of expression, censor media, impose restrictions on critical voices in civil society and the NGO sector and discriminate against vulnerable people. They also make clear that unless the legislation is rescinded, progress cannot be made in Georgia’s relations with the EU.

    Against the backdrop of the continuing decline of Georgia’s democracy, Parliament demands that all EU funding provided to the Georgian government be frozen until the undemocratic laws are repealed. Any future funding of the Georgian government can only be disbursed under strict conditions, MEPs argue.

    On 9 October, MEPs adopted a resolution issuing a strong warning against continued Russian attempts to derail Moldova’s pro-European trajectory. The text vehemently condemns Russia’s escalating malicious activities, interference and hybrid operations ahead of Moldovans going to the polls to vote in the country’s presidential election and constitutional referendum on EU integration on 20 October. MEPs highlight the role played by a plethora of malicious actors, including pro-Russian Moldovan oligarchs and Russia’s state-funded RT network, in carrying out voter fraud schemes as well as cyber operations and information warfare. They also call on the EU and its member states to ensure that all necessary assistance is provided to Moldova to strengthen its institutional mechanisms and ability to respond to hybrid threats.

    The European Parliament reaffirms its support for Moldova’s path towards EU accession, calling on the European Commission to include the country in the Instrument for Pre-Accession Assistance (IPA III) and to prioritise funding for EU candidate countries in the next Multiannual Financial Framework (MFF) for 2028-2034. With EU accession talks with Moldova already having begun, MEPs call for a faster screening process and the timely organisation of the subsequent intergovernmental conferences.

    In a resolution adopted on 19 September, Parliament says the EU should do its utmost to ensure that Edmundo González Urrutia, the legitimate and democratically elected President of Venezuela, can take office on 10 January 2025. MEPs “strongly condemn and fully reject the electoral fraud orchestrated by the regime-controlled National Electoral Council, which refused to make public the official result.” They recognise Edmundo González Urrutia as the country’s legitimate and democratically elected president, and María Corina Machado as the leader of the democratic forces in Venezuela. They also strongly condemn the Venezuelan Government’s issuance of an arrest warrant for Mr González.

    On 8 October, MEPs held a plenary debate on the situation in Sudan. You can watch the debate here.

    Further reading

    Parliament says Georgia’s democracy is at risk

    Resolution: The democratic backsliding and threats to political pluralism in Georgia

    Parliament condemns Russia’s interference in Moldova

    Resolution: Strengthening Moldova’s resilience against Russian interference ahead of the upcoming presidential elections and a constitutional referendum on EU integration

    Venezuela: MEPs recognise Edmundo González as President

    Resolution: Situation in Venezuela

    MEPs to contact

    David McALLISTER, (EPP, DE) Chair of the Committee on Foreign Affairs

    Nils UŠAKOVS (S&D, LV), Chair of the Delegation to the EU-Armenia Parliamentary Partnership Committee, the EU-Azerbaijan Parliamentary Cooperation Committee and the EU-Georgia Parliamentary Association Committee

    Climate change and biodiversity

    A Parliament delegation will attend the UN Climate Change Conference (COP29) in Baku, Azerbaijan between 18 and 22 November 2024. MEPs will also adopt a resolution during the 13-14 November plenary session, which will constitute the delegation’s mandate for talks with international partners.

    Parliament will also send a delegation to the UN Biodiversity Conference (COP16) in Cali, Colombia, between 28 and 31 October 2024.

    MEPs to contact

    Lídia PEREIRA (EPP, PT), Chair of the delegation to the COP29 UN Climate Change Conference, Baku, Azerbaijan

    Antonio DECARO (S&D, IT), Chair of the Committee on the Environment, Public Health and Food Safety

    MIL OSI Europe News –

  • MIL-OSI Europe: MOTION FOR A RESOLUTION on the urgent need to revise the Medical Devices Regulation – B10-0122/2024

    Source: European Parliament

    B10‑0122/2024

    European Parliament resolution on the urgent need to revise the Medical Devices Regulation

    (2024/2849(RSP))

    The European Parliament,

    – having regard to Regulation (EU) 2017/745 of the European Parliament and of the Council of 5 April 2017 on medical devices, amending Directive 2001/83/EC, Regulation (EC) No 178/2002 and Regulation (EC) No 1223/2009 and repealing Council Directives 90/385/EEC and 93/42/EEC[1] (Medical Devices Regulation, MDR), and to Regulation (EU) 2017/746 of the European Parliament and of the Council of 5 April 2017 on in vitro diagnostic medical devices and repealing Directive 98/79/EC and Commission Decision 2010/227/EU[2] (IVDR),

    – having regard to the Commission statement of 9 October 2024 on the urgent need to revise the Medical Devices Regulation,

    – having regard to the proposal for rejection of the Recommendation for second reading on in vitro diagnostic medical devices[3],

    – having regard to Rule 136(2) of its Rules of Procedure,

    A. whereas the legislation on medical devices and in vitro medical devices was revised in 2017 through the MDR and the IVDR;

    B. whereas the new legislative framework of 2017, which replaced the existing directives with regulations, was a reaction to certain events, first and foremost to a company’s marketing non-medical grade silicone gel breast implants in blatant and intentional violation of the regulatory framework; whereas there have been various violations under the new regulatory framework during the so-called pandemic;

    C. whereas the regulations have placed a considerable regulatory burden on the producers of medical devices and in vitro medical devices; whereas the MDR and the IVDR have created a considerable administrative burden for regulators; whereas the combined burden has created both a backlog of required certifications within the industry and an administrative bottleneck for issuing such certifications;

    D. whereas this backlog has affected the market for medical devices and in vitro medical devices; whereas there is a shortage of certain medical devices and in vitro medical devices; whereas producers’ innovative capacity has been impaired;

    E. whereas a prolonged waiting time for such products, shortages and a lack of innovation due to the inability to cope with bureaucratic obstacles harms patients as consumers of medical products; whereas such harm could ultimately result in an unnecessary loss of life;

    F. whereas the Commission needs to have finalised an evaluation of the directives by 27 May 2027 under Article 121 MDR and Article 111 IVDR;

    1. Considers that both the IVDR and the MDR have created very burdensome bureaucracy, which is neither in the interest of the producers nor in the interest of patients as consumers; suggests that any inappropriate or disproportionate regulatory burden be lifted as soon as possible; underlines that there is now an urgent need for revision of both the IVDR and the MDR;

    2. Recalls that as far back as in 2017 a Parliament minority moved to reject the new framework as too excessive a regulatory burden and too expensive for producers of medical devices to comply with; considers that law is good law when it can stand the test of time; recalls that perceived legislative necessity, as so often encountered in real or perceived crises, should not trump the established rules of proper lawmaking to the detriment of the smooth functioning of parliamentary democracy;

    3. Notes that proposals have been made to remedy the problems through tertiary legislation, thereby circumventing the ordinary legislative procedure; underlines that the shortcomings of Union secondary legislation cannot be corrected by tertiary-level legislation, as this would ultimately mean substituting Parliament’s lawmaking capacity with executive decrees; warns against the widespread and excessive use of delegated acts as a means of repairing flawed legislation;

    4. Calls on the Commission not to make use of the full time frame granted for evaluation of the IVDR and the MDR, but instead to speed up the process as much as possible; notes that the Commission has been called upon to come up with a proposal within a hundred days of the start of the new Commissioners’ term of office;

    5. Calls on the Commission to immediately present an amendment to address the glaring shortcomings of current legislation in the first half of 2025, so that businesses, patients as consumers and healthcare authorities can enjoy immediate relief; calls on the Commission to conduct its evaluation, and present a full legislative proposal, as swiftly as possible;

    6. Suggests including in its proposal an accelerated certification procedure for innovative medical products, abolishing the re-certification requirement for lower-risk products and abolishing the certification requirement for niche-products;

    7. Considers that, as a prerequisite, there is already a strong and functioning civil liability regime in place that protects consumers, allowing certain regulatory requirements to be relaxed;

    8. Instructs its President to forward this resolution to the Council, the Commission and the national parliaments of the Member States.

     

     

    MIL OSI Europe News –

  • MIL-OSI Europe: MOTION FOR A RESOLUTION on the urgent need to revise the Medical Devices Regulation – B10-0126/2024

    Source: European Parliament

    B10‑0126/2024

    European Parliament resolution on the urgent need to revise the Medical Devices Regulation

    (2024/2849(RSP))

    The European Parliament,

    – having regard to the Treaty on the Functioning of the European Union, in particular Article 168 thereof,

    – having regard to the Charter of Fundamental Rights of the European Union, in particular Article 35 thereof,

    – having regard to Regulation (EU) 2017/745 of the European Parliament and of the Council of 15 December 2021 on medical devices[1] (Medical Devices Regulation),

    – having regard to Regulation (EU) 2017/746 of the European Parliament and of the Council of 5 April 2017 on in vitro diagnostic medical devices[2] (In Vitro Medical Devices Regulation),

    – having regard to Regulation (EU) 2020/561 of the European Parliament and of the Council of 23 April 2020 amending Regulation (EU) 2017/745 on medical devices, as regards the dates of application of certain of its provisions[3],

    – having regard to Regulation (EU) 2022/112 of the European Parliament and of the Council of 25 January 2022 amending Regulation (EU) 2017/746 as regards transitional provisions for certain in vitro diagnostic medical devices and the deferred application of conditions for in-house devices[4],

    – having regard to Regulation (EU) 2023/607 of the European Parliament and of the Council of 15 March 2023 amending Regulations (EU) 2017/745 and (EU) 2017/746 as regards the transitional provisions for certain medical devices and in vitro diagnostic medical devices[5],

    – having regard to Regulation (EU) 2024/1860 of the European Parliament and of the Council of 13 June 2024 amending Regulations (EU) 2017/745 and (EU) 2017/746 as regards a gradual roll-out of Eudamed, the obligation to inform in case of interruption or discontinuation of supply, and transitional provisions for certain in vitro diagnostic medical devices[6],

    – having regard to Regulation (EU) 2022/123 of the European Parliament and of the Council of 25 January 2022 on a reinforced role for the European Medicines Agency in crisis preparedness and management for medicinal products and medical devices[7],

    – having regard to Rule 136(2) of its Rules of Procedure,

    A. whereas access to safe and effective medical devices and in vitro medical devices plays a crucial role in providing high quality treatment and care for patients in the EU;

    B. whereas approximately 500 000 different medical devices are available on the EU market, covering a broad range of technologies from contact lenses to pacemakers and serving different purposes, including diagnosis, prevention, treatment, rehabilitation, and improving the quality of life of patients[8];

    C. whereas the Medical Devices Regulation (MDR) and the In Vitro Medical Devices Regulation (IVDR) were adopted to strengthen the legal framework and enhance patient safety in response to a number of scandals involving unsafe medical equipment, such as hip- and breast implants, and to reduce the number of obsolete medical devices on the market;

    D. whereas incomplete applications with which manufacturers have not provided notified bodies with sufficient scientific evidence and technical detail are among the main reasons for the current delays in issuing CE certificates[9];

    E. whereas the implementation deadlines set in the MDR and IVDR were extended several times to increase the capacity of notified bodies and to help the industry to adjust to the new rules in order to avoid shortages of medical devices;

    F. whereas the Commission initiated non-legislative actions to support the transition to the MDR and IVDR, focusing in particular on the availability of medical devices on the market, the preparedness of notified bodies, the development of orphan and paediatric devices, SME support and free scientific advice;

    G. whereas although there is now an optimal number of notified bodies established under the MDR, issues remain in terms of the inconsistency of decisions, the lack of transparency regarding decisions and limited capacity for post-market surveillance; whereas more notified bodies still need to be established under the IVDR and the consistency and transparency of their decisions enhanced;

    H. whereas there is no harmonised mechanism to monitor interruption of supply of devices and whereas the limited requirement for manufacturers to give prior notice about any interruption of supply of certain critical medical devices or in vitro medical devices was only introduced with Regulation (EU) 2024/1860 and will only take effect in January 2025; whereas to ensure patient health protection more transparency provisions linked to supply chain stability are needed so as to understand what types of devices are at serious risk of market withdrawals and shortages;

    1. Stresses its continued support for the swift implementation of the MDR and IVDR and underlines that patient safety must never be compromised and that equal access to quality medical devices must be ensured throughout the EU;

    2. Regrets the continuing risks of device shortages, notably in the areas of paediatric and orphan diseases, as a result of the suboptimal implementation of the legal framework;

    3. Stresses the urgent need for medical device supply chains to be transparent to prevent device shortages and the need for closer cooperation and stricter reporting obligations, including through the Medical Devices Coordination Group (MDCG) and the Executive Steering Group on Shortages of Medical Devices;

    4. Underlines that all relevant information on the processes and decisions of notified bodies regarding the certification of medical devices must be in the public domain and accessible to all the relevant stakeholders; in this regard, reiterates the need for a swift roll-out of a comprehensive, fully functional, and user-friendly European database for medical devices (EUDAMED) that provides complete information on all medical devices available on the EU market and adheres to the highest standards of transparency and accessibility of information;

    5. Welcomes the fact that the capacity of notified bodies has significantly increased in recent months and urges the Member States and the Commission to ensure a coordinated approach and harmonisation to improve the efficiency and predictability of decisions taken by notified bodies as well as their fee structure;

    6. Calls on the Commission to propose specific timeframes for conformity assessments linked to different classes of medical devices, to ensure predictability for developers, and to envisage the possibility of accelerated timelines when devices are linked to health emergencies or where there is robust scientific evidence of an extraordinary benefit for patients in areas of high unmet medical need;

    7. Reiterates that any incentives related to orphan medical devices must be based on clear eligibility criteria, be linked to a prudent system that prevents misuse through an artificial ‘orphanisation’ of the devices, and their use must be registered centrally to ensure better evidence generation throughout the EU;

    8. Underlines the need for more optimal stakeholder involvement, including within the notified bodies, and calls on the Member States and Commission to ensure that patients and healthcare professionals have access to all relevant documents and decisions;

    9. Underlines that product updates or adjustments should not necessarily lead to a need for an entire re-certification of the product, and in this regard calls for tertiary legislation to harmonise such provisions and ensure consistency for developers across the EU;

    10. Calls on manufacturers of medical devices to coordinate more closely with national authorities and prioritise patient safety by ensuring the generation of robust evidence and meeting the requirements of the MDR and IVDR without further delay;

    11. Welcomes the non-legislative actions already initiated by the Commission and urges more activities particularly vis-à-vis transparency and post-market surveillance; calls on the national competent authorities to significantly strengthen post-market surveillance activities and communication to patient organisations and healthcare professionals and the general public on risks to health or safety associated with marketed devices; calls on the authorities to ensure that manufacturers adhere to strict, clearly established timelines for implementing corrective actions, including prompt communication and follow-up with all potentially affected patients;

    12. Reiterates the need for a thorough evaluation and impact assessment of the MDR and IVDR before the potential reopening of the regulations and underlines that all the relevant stakeholders, including patients and healthcare professionals, must be involved in the evaluation process;

    13. Underlines that any potential revision of the medical devices framework must first and foremost uphold high patient safety standards, be based on evidence collected in the evaluation and impact assessment and ensure accompanying measures to support the transition;

    14. Instructs its President to forward this resolution to the Council, the Commission and the governments and parliaments of the Member States.

     

     

    MIL OSI Europe News –

  • MIL-OSI Asia-Pac: TONGA’S REAFFIRM ITS COMMITMENT AND UNWAVERING FAITH ON RENEWABLE ENERGY

    Source: Tonga Government

    Figure 1: Guest of Honours; Crown Prince Tupouto’a (fourth from left), Crown Princess Sinaitakala Tuku’aho (third from left), Princess Halaevalu (front row), Development Partners and the rest of the delegation during the Commissioning the Solar Powered Mini-grid

    Niuafo’ou, Tonga 11th October, 2024 – Crown Prince Tupouto’a ‘Ulukalala, Crown Princess Sinaitakala Tuku’aho and Princess Halaevalu commissioned the Solar Mini-grid system of Niuafo’ou. Minister of MEIDECC, Hon Fekita ‘Utoikamanu, HE Brek Batley, senior delegations from ADB, Tonga Power Limited, MEIDECC and the Prime Minister’s Office accompanied the guests of honor at the commissioning.

    Enthusiasm in the eyes of individuals who are granted the opportunity to enhance their access to electricity from limited hours each day to 24 hours per day, seven days a week was a was a significant milestone observed during the Commissioning of the solar mini-grid. The people of Niuafo’ou now have access to 24/7 electricity service generated from Renewable Energy.

    “I wish to reaffirm the Government’s commitment and Tonga’s unwavering faith on renewable energy as a key to addressing the single greatest threat to small island developing states – climate change”, said the Honourable Minister during the Commissioning.

    This is one of the Government’s ongoing efforts to improve quality and reliability of electricity supply that is generated from renewable energy. It is not just a technical shift from fossil fuels to renewable sources; it is a transformation that touches upon every aspect of Tongan lives especially in such remote communities like Niuafo’ou.

    The solar mini-grid was funded under the Tonga Renewable Energy Project (TREP) which was made possible through the kind assistance of the Green Climate Fund (GCF), Asian Development Bank (ADB), Australian Aid, and the Government of Tonga with the support of Tonga Power Limited  and the extraordinary efforts of the Principal Contractor, Infratec NZ and its sub-contractors during the installation stage.

    Tungua and Moungaone are in progress for the Haapai Islands and the 4 islands in Vavau (Hunga, Otea, Falevai, and Ofu) under the same project.

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: Environment Agency works to preserve North East salmon stocks

    Source: United Kingdom – Executive Government & Departments

    Atlantic salmon stocks in the Tyne remain buoyant despite stocks across England reaching new lows according to a report released last week (Monday 7 October).

    An image of an adult salmon.

    Atlantic salmon stocks in the Tyne remain buoyant despite stocks across England reaching new lows according to a report released last week (Monday 7 October).  

    According to the Atlantic Salmon Stock Assessment for 2024 from the Environment Agency and the Centre for Environment, Fisheries and Aquaculture Science (Cefas), 90% of principal salmon rivers in England are classified as either “at risk” or “probably at risk,” meaning salmon numbers are below minimum levels to support sustainable populations.

    However, the River Tyne’s salmon stocks are the only location where they remain “not at risk” and the Coquet and Wear are amongst only three rivers nationally where stocks are deemed to be “probably not at risk”.

    The Environment Agency is working with partners to reduce impacts affecting stocks globally, including barriers to migration, water scarcity from abstraction and the persistent challenge from climate change, including warming seas.

    The Environment Agency and Natural England are calling on everyone from landowners and farmers to energy, waste and water companies to do more to protect this iconic and pivotal species.  

    Jon Shelley, Fisheries Technical Specialist at the Environment Agency said:

    We are proud that the Salmon Stocks in the Tyne remain “not at risk” and that rivers across the North East are providing a safe haven for salmon.

    However, we know the importance of this report and are not complacent in the North East. Action is needed to combat all pressures impacting salmon, to help maintain the salmon stocks in the region and improve the stocks across the country. 

    We will continue our vital work to help preserve the salmon stocks in our area by working closely with our partners and the community.

    Updates to this page

    Published 17 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI: Calian continues to respond to growing demand for global defence solutions

    Source: GlobeNewswire (MIL-OSI)

    OTTAWA, Ontario, Oct. 17, 2024 (GLOBE NEWSWIRE) — Calian Group Ltd. (TSX: CGY), closed fiscal year 2024 ending September 30, having signed several defence contracts in the fourth quarter valued at approximately $29 million, further solidifying its position as a trusted partner in the global defence industry. These new contracts align with Calian’s mission to equip, prepare and protect military personnel as global military spending continues to surge amid war, geopolitical instability and the heightened need for new and advanced technologies.

    Global defence budgets continue to rise and are projected to reach $2.5 trillion by 2028 according to Markets and Markets. Throughout FY2024, Calian continued to win contracts to support key global defence initiatives that enhance military readiness and operational effectiveness. Closing out Q4, Calian was selected to provide Canada and NATO members with operational and training support, defence manufacturing, engineering support and technical expertise.

    “As the world faces continued unrest, Calian is more dedicated than ever to delivering cutting-edge defence solutions to ensure the preparedness and safety of Canadian, NATO and allied personnel,” said Kevin Ford, CEO, Calian. “Our recent contract signings reflect the growing trust our global partners place in Calian to support critical global defence initiatives. As we move into FY2025, we remain focused on helping our allies prepare for the complex challenges that lie ahead, equipping them with the tools and expertise needed to safeguard national and global security.”

    In a 2024 McKinsey & Company report they indicated that following the invasion of Ukraine, NATO member states have announced plans to spend significantly more on defence in the coming years. It goes on to add that if actual spending stays in line with the latest announcements made by European governments, their analysis estimates that cumulative defence spending could increase by €700 billion to €800 billion between 2022 and 2028, with total European spending reaching as much as €500 billion per year in 2028. With Calian’s recent acquisition of U.K.’s Mabway, combined with its leadership in providing defence readiness expertise for NATO countries, Calian is uniquely positioned going into FY2025 to support these increasing demands.

    With over 40 years of experience delivering defence solutions to Canada and its global allies, Calian provides a broad portfolio of services, including military training, simulation, healthcare, cybersecurity and complex systems integration. These recent Q4 contract signings reinforce Calian’s commitment to helping military forces remain ready and resilient in today’s fast-changing security environment.

    Learn more about how Calian delivers confidence for military customers, no matter their needs: https://www.calian.com/defence/.

    About Calian
    http://www.calian.com
    We keep the world moving forward. Calian® helps people communicate, innovate, learn and lead safe and healthy lives. Every day, our employees live our values of customer commitment, integrity, innovation, respect and teamwork to engineer reliable solutions that solve complex challenges. That’s Confidence. Engineered. A stable and growing 40-year company, we are headquartered in Ottawa with offices and projects spanning North American, European and international markets. Visit calian.com to learn about innovative healthcare, communications, learning and cybersecurity solutions.

    Product or service names mentioned herein may be the trademarks of their respective owners.

    Media inquiries:
    media@calian.com
    613-599-8600 x 2298

    Investor Relations inquiries:
    ir@calian.com

    DISCLAIMER
    Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company’s most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.

    Calian · Head Office · 770 Palladium Drive · Ottawa · Ontario · Canada · K2V 1C8
    Tel: 613.599.8600 · Fax: 613-592-3664 · General info email: info@calian.com

    The MIL Network –

  • MIL-OSI: CIB Marine Bancshares, Inc. Announces Final Redemption of Preferred Stock

    Source: GlobeNewswire (MIL-OSI)

    BROOKFIELD, Wis., Oct. 17, 2024 (GLOBE NEWSWIRE) — CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH) announces the full and final redemption of all preferred stock pursuant to its Second Amended and Restated Articles of Organization. Effective October 31, 2024, approximately 14,633 of CIB Marine’s Series A Preferred shares and 1,610 of Series B Preferred shares will be redeemed at $825 per share. This redemption is a full redemption of all outstanding preferred stock; there will be no preferred stock remaining in the Company’s capital structure. The $13.4 million redemption will be funded by cash on hand resulting from a distribution from the Company’s wholly-owned subsidiary, CIBM Bank; a distribution from the Company’s non-bank subsidiary, CIB Marine Capital, LLC; and a portion of the $10 million subordinated debt offering completed in the first quarter of 2022. Documentation will be mailed to all preferred shareholders of record by the Company’s redemption agent, Computershare Trust Company, N.A., on or about October 17, 2024.

    Mr. J. Brian Chaffin, President and CEO of the Company stated, “The October 31st redemption of all remaining preferred stock is a great achievement for the Company and all our shareholders. This transaction increases liquidity for the remaining preferred shares and benefits our common shareholders in two ways: by eliminating the potentially dilutive convertible Series B shares and redeeming all outstanding preferred stock at a discounted rate. The $825 per share redemption price is below both its balance sheet carrying value of $850 per share and its liquidation preference value of $1,000 per share.”

    In addition, Mr. Mark Elste, Chaiman of the Board of Directors, noted. “This is a significant accomplishment that the Board of Directors and management have been focused on for more than four years. The redemption of all preferred stock simplifies the Company’s capital structure to only one form of equity: common stock with full voting rights. It opens up opportunities to continue building shareholder value, the likes of which have been constrained by the outstanding preferred stock.”

    CIB Marine Bancshares, Inc. is the holding company for CIBM Bank, which operates nine banking offices Illinois, Wisconsin, and Indiana, and has mortgage loan officers and/or offices in ten states. More information on the Company is available at http://www.cibmarine.com, including recent shareholder letters, links to regulatory financial reports, and audited financial statements.

    FORWARD-LOOKING STATEMENTS
    CIB Marine has made statements in this release that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. CIB Marine intends these forward-looking statements to be subject to the safe harbor created thereby and is including this statement to avail itself of the safe harbor. Forward-looking statements are identified generally by statements containing words and phrases such as “may,” “project,” “are confident,” “should be,” “intend,” “predict,” “believe,” “plan,” “expect,” “estimate,” “anticipate” and similar expressions. These forward-looking statements reflect CIB Marine’s current views with respect to future events and financial performance that are subject to many uncertainties and factors relating to CIB Marine’s operations and the business environment, which could change at any time.

    There are inherent difficulties in predicting factors that may affect the accuracy of forward-looking statements.

    Stockholders should note that many factors, some of which are discussed elsewhere in this release and in the documents that are incorporated by reference, could affect the future financial results of CIB Marine and could cause those results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. These factors, many of which are beyond CIB Marine’s control, include but are not limited to:

    • operating, legal, execution, credit, market, security (including cyber), and regulatory risks;
    • economic, political, and competitive forces affecting CIB Marine’s banking business;
    • the impact on net interest income and securities values from changes in monetary policy and general economic and political conditions; and
    • the risk that CIB Marine’s analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.

    These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. CIB Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to significant risks and uncertainties and CIB Marine’s actual results may differ materially from the results discussed in forward-looking statements.

    FOR INFORMATION CONTACT:
    J. Brian Chaffin, President & CEO
    (217) 355-0900
    brian.chaffin@cibmbank.com

    The MIL Network –

  • MIL-OSI: Invesco Ltd: Form 8.3 – StoneX Group Inc; Public dealing disclosure

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

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

    1. KEY INFORMATION  
       
    (a) Full name of discloser: Invesco Ltd.  
    (b) Owner or controller of interests and short positions disclosed, if different from 1(a):
    The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		    
    (c) Name of offeror/offeree in relation to whose relevant securities this form relates:
    Use a separate form for each offeror/offeree    		 StoneX Group Inc.  
    (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:    
    (e) Date position held/dealing undertaken:
    For an opening position disclosure, state the latest practicable date prior to the disclosure    		 16.10.2024  
    (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
    If it is a cash offer or possible cash offer, state “N/A”    		 No  
       
    2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE  
       
    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.  
    (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)  
       
    Class of relevant security: Common US8618961085  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 436,273* 1.36      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 436,273* 1.36      
    *The change in the holding of 838 shares since the last disclosure on 16.10.2024 is due to the transfer out of a discretionary holding at 87.22 USD.  
       
    All interests and all short positions should be disclosed.

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

    		  
       
       
    (b) Rights to subscribe for new securities (including directors’ and other employee options)  
       
    Class of relevant security in relation to which subscription right exists:    
    Details, including nature of the rights concerned and relevant percentages:    
       
    3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE  
       
    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

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

    		  
    (a) Purchases and sales  
       
    Class of relevant security Purchase/sale Number of securities Price per unit  
    Common US8618961085 Purchase 57 88.22 USD  
       
    (b) Cash-settled derivative transactions  
       
    Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit  
               
       
    (c) Stock-settled derivative transactions (including options)
     
    (i) Writing, selling, purchasing or varying
     
    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit
                   
       
    (ii) Exercise  
       
    Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit  
               
       
    (d) Other dealings (including subscribing for new securities)  
                 
    Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable)  
             
             
       
    4. OTHER INFORMATION  
       
    (a) Indemnity and other dealing arrangements  
       
    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (b) Agreements, arrangements, or understandings relating to options or derivatives  
       
    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i) the voting rights of any relevant securities under any option; or
    (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (c) Attachments  
       
    Is a Supplemental Form 8 (Open Positions) attached? NO  
       
    Date of disclosure 17.10.2024  
    Contact name Philippa Holmes  
    Telephone number +441491417447  
       

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

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

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

    The MIL Network –

  • MIL-OSI: Convex partners with EXL to accelerate operational excellence through data and technology

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 17, 2024 (GLOBE NEWSWIRE) — EXL [NASDAQ: EXLS], a leading data analytics and digital operations and solutions company, was selected by Convex Group Limited (“Convex”), the international specialty insurer and reinsurer, for a multiyear engagement focused on accelerating delivery of its business operations. The program will improve efficiency and customer experience, delivering a more cost-effective, scalable and resilient operating model.

    As part of Convex’s strategically differentiated approach to outsourcing, EXL will help deliver the next phase of development in operational excellence and efficiency, enhancing workflows and delivering integrated data-enriched management information, analytics and AI across the breadth of the operating model. This will allow Convex to continue to maintain its client-centric focus and growth momentum while drawing on EXL’s deep expertise in insurance operations and market-proven AI and data capabilities. In addition, EXL’s multi-tower and multi-geography delivery centers and transformation center of excellence will support Convex’s requirements for flexible and adaptable access to evolving skills and resources.

    “We are excited to work closely with Convex to evolve their operating model, supporting better business decisions through data and technology while delivering greater scalability and efficiency in their operations,” said Vikas Bhalla, president, EXL and head of Insurance business. “Partnering with EXL will not only support Convex in its continued growth and deployment of current technologies but also help the organization leverage future technological advancements with speed and agility.”

    “We selected EXL as a strategic partner because we felt they aligned well with our values while demonstrating a strong capability and drive to leverage cutting-edge technology and data in the delivery of services,” said Adrian Spieler, chief operating officer at Convex. “EXL not only brings the London market experience but also the experience of implementing transformational solutions alongside transparency and high-quality management information into operations. We see this engagement as an accelerator for delivering operational excellence to our brokers and clients.”

    EXL works with more than 550 global insurers, re-insurers, brokers and Insurtech firms to leverage data and artificial intelligent based solutions to help our clients improve risk mitigation, reduce indemnity spend, enhance customer experience and lower service costs. With a 25-year heritage in the insurance industry, EXL’s global presence and deep insurance expertise help clients stay resilient and leverage the best-of-breed solutions to stay ahead.

    To learn more about EXL’s data-led approach to digital transformation, please visit here.

    About EXL
    EXL (NASDAQ: EXLS) is a leading data analytics and digital operations and solutions company. We partner with clients using a data and AI-led approach to reinvent business models, drive better business outcomes and unlock growth with speed. EXL harnesses the power of data, analytics, AI, and deep industry knowledge to transform operations for the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have more than 55,000 employees spanning six continents. For more information, visit http://www.exlservice.com.

    Cautionary Statement Regarding Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL’s operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
    © 2024 ExlService Holdings, Inc.  All rights reserved. For more information go to http://www.exlservice.com/legal-disclaimer

    Contacts
    Media
    Keith Little
    +1 703-598-0980
    media.relations@exlservice.com

    Investor Relations
    John Kristoff
    +1 212 209 4613
    IR@exlservice.com

    The MIL Network –

  • MIL-OSI: Banzai Announces Expanded Partnership with Salesforce, Today’s Industry Leading AI CRM Company for Smarter Webinar Campaigns

    Source: GlobeNewswire (MIL-OSI)

    Simplified Workflows and Real-Time Insights with Account Engagement Integration in Demio Give Salesforce Users the Tools They Need to Enhance Their Webinar Strategy

    SEATTLE, Oct. 17, 2024 (GLOBE NEWSWIRE) — Banzai International, Inc. (NASDAQ: BNZI) (“Banzai” or the “Company”), a leading marketing technology company that provides essential marketing and sales solutions, today announced significant enhancements to its Demio platform through deeper integration with Salesforce, the industry leading AI CRM company.

    These new features address key operational challenges faced by marketing teams, delivering an improved level of precision in webinar data management, from automated lead capture to real-time UTM tracking. Marketers leveraging this integration will not only see immediate efficiency gains but will also benefit from enhanced decision-making capabilities, thanks to cleaner, more accurate data pipelines.

    Key Enhancements Designed to Maximize Efficiency and Insight

    This integration addresses common pain points for Salesforce Account Engagement users by automating the syncing of webinar data—from contact information to UTM tracking—greatly reducing the time and effort required for manual processes. Marketers can now focus on optimizing campaigns with real-time insights, enabling data-driven adjustments with speed and precision. The seamless UTM tracking integration offers a comprehensive view of campaign performance across channels, while Demio’s smart list management feature ensures that webinar registrants are automatically added to targeted Salesforce Account Engagement lists, ensuring no lead slips through the cracks.

    Key capabilities include:

    • Automated List Management: Simplify the process by automatically syncing registrants to Salesforce Account Engagement, ensuring optimal engagement across the funnel.
    • Real-Time UTM Tracking: Gain holistic insights into campaign performance with real-time tracking at both session and individual contact levels.
    • Advanced Search for List Management: Quickly navigate extensive lists with Demio’s new auto-search feature, saving time and boosting productivity.
    • Custom Field Syncing: Ensure accurate and up-to-date information across platforms, enabling targeted segmentation and precision marketing.

    Joe Davy, CEO of Banzai, emphasized the power of this upgraded integration: “By deepening our connectivity with Pardot, we’re offering marketers a more scalable, data-rich experience. This isn’t just a product enhancement; it’s a strategy shift that will drive better outcomes with less effort.”

    A Future-Focused Solution for Salesforce Customers

    Banzai continues to innovate to ensure its solutions meet the evolving needs of marketing teams. By integrating powerful features directly into users’ workflows, this enhancement sets a new standard for what’s possible in webinar campaign management—paving the way for more strategic, data-driven marketing operations.

    About Salesforce

    Salesforce is the #1 AI CRM, empowering companies to connect with their customers in a whole new way through the power of CRM + AI + Data + Trust on one unified platform: Einstein 1. For more information visit: http://www.salesforce.com.

    About Banzai
    Banzai is a marketing technology company that provides essential marketing and sales solutions for businesses of all sizes. On a mission to help their customers achieve their mission, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Banzai customers include Square, Hewlett Packard Enterprise, Thermo Fisher Scientific, Thinkific, Doodle and ActiveCampaign, among thousands of others. Learn more at http://www.banzai.io. For investors, please visit https://ir.banzai.io/.

    Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often use words such as “believe,” “may,” “will,” “estimate,” “target,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seek,” “future,” “outlook,” and similar variations and expressions. Forward-looking statements are those that do not relate strictly to historical or current facts. Examples of forward-looking statements may include, among others, statements regarding Banzai International, Inc.’s (the “Company’s”): future financial, business and operating performance and goals; annualized recurring revenue and customer retention; ongoing, future or ability to maintain or improve its financial position, cash flows, and liquidity and its expected financial needs; potential financing and ability to obtain financing; acquisition strategy and proposed acquisitions and, if completed, their potential success and financial contributions; strategy and strategic goals, including being able to capitalize on opportunities; expectations relating to the Company’s industry, outlook and market trends; total addressable market and serviceable addressable market and related projections; plans, strategies and expectations for retaining existing or acquiring new customers, increasing revenue and executing growth initiatives; and product areas of focus and additional products that may be sold in the future. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Factors that may cause actual results to differ materially include changes in the markets in which the Company operates, customer demand, the financial markets, economic, business and regulatory and other factors, such as the Company’s ability to execute on its strategy. More detailed information about risk factors can be found in the Company’s Annual Report on Form 10-K and the Company’s Quarterly Reports on Form 10-Q under the heading “Risk Factors,” and in other reports filed by the Company, including reports on Form 8-K. The Company does not undertake any duty to update forward-looking statements after the date of this press release.

    Investor Relations
    Chris Tyson
    Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    BNZI@mzgroup.us
    http://www.mzgroup.us

    Media
    Rachel Meyrowitz
    Director, Demand Generation, Banzai
    media@banzai.io

    The MIL Network –

  • MIL-OSI: HawkSearch Unveils Enhanced Rapid UI Framework with GenAI-Powered Smart Response

    Source: GlobeNewswire (MIL-OSI)

    WOBURN, Mass., Oct. 17, 2024 (GLOBE NEWSWIRE) — Bridgeline Digital, Inc. (NASDAQ: BLIN), a provider of AI-driven marketing technology, announced a major update to HawkSearch’s Rapid UI Framework, a powerful component-based framework that accelerates the integration of Smart Response into their search interfaces. The new version includes a new component for HawkSearch’s Smart Response, a new GenAI capability to complement Smart Search’s features as announced earlier in the year.

    Smart Response, now powered by Generative AI (GenAI), delivers a transformative experience for eCommerce users. It goes beyond traditional search results by enabling interactive conversations, summarizing extensive product information, and comparing items directly within the search interface. With the ability to customize “Agents” to align with brand tone, merchandisers can now fine-tune responses to suit specific customer needs. The updated version has comprehensive documentation and implementation examples available via the HawkSearch Developer Portal.

    A customer searching for a laptop on an eCommerce site can now engage with Smart Response to refine their options. By asking follow-up questions or requesting product comparisons, Smart Response provides a concise side-by-side analysis of laptops, highlighting key features like battery life and processor speed, helping the customer make a more informed decision without leaving the search interface.

    “The Rapid UI Framework is revolutionizing search technology,” said Ari Kahn, CEO of Bridgeline Digital. “Our customers can quickly develop personalized, engaging search experiences, allowing them to drive conversions and enhance user satisfaction with minimal effort.”

    About Bridgeline Digital

    Bridgeline helps companies grow online revenue by increasing traffic, conversion rates, and average order value. To learn more, please visit http://www.bridgeline.com.

    Contact:
    Danielle Colvin
    SVP of Marketing
    Bridgeline Digital
    press@bridgeline.com

    The MIL Network –

  • MIL-OSI: LM Funding America, Inc.’s Bitcoin Holdings was Valued at $9.6 million in Monthly Update

    Source: GlobeNewswire (MIL-OSI)

    TAMPA, Fla., Oct. 17, 2024 (GLOBE NEWSWIRE) — LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a cryptocurrency mining and technology-based specialty finance company, today provided a preliminary, unaudited Bitcoin mining and operational update for the month ended September 30, 2024.

    Metrics *

    Three
    Months
    1    stQtr.
    2024

    Three
    Months
    2    ndQtr.
    2024

    		  

    One Month
    September 30,
    2024

    Three
    Months
    3    rdQtr.
    2024

    		  

    Nine Months
    Ended September
    30, 2024
    Bitcoin Beginning Balance 95.1   163.4     135.7 160.4     95.1  
    Bitcoin Mined, net 86.4   44.1     6.6 18.4     148.9  
    Bitcoin Sold (18.0)   (47.0)     – (36.5)     (101.5)  
    Service Fee (rounding) (0.1)   (0.1)     0.1 –     (0.2)  
    Bitcoin Holdings at Month End 163.4   160.4     142.3 142.3     142.3  
                   
    Approximate Miners Deployed at Month End 5,940   5,880     3,700     3,700  
    Approximate Miners In-Transit at Month End       2,200     2,200  
    Approximate Potential Hash Rate at Month End (PH/s) 614   639     639     639  

    *Unaudited

    The Company estimates that the value of its 142.3 Bitcoin holdings on September 30, 2024, was approximately $9.6 million, based on an estimated October 16, 2024 BTC price of $67,500.

    About LM Funding America
    LM Funding America, Inc. (Nasdaq: LMFA), operates as a cryptocurrency mining and specialty finance company. It operates through two segments, Specialty Finance and Mining Operations. The company has approximately 5,880 miners, electrified and actively mining Bitcoin, providing the company with approx. 639 petahash of mining capacity. The company was founded in 2008 and is based in Tampa, Florida. For more information, please visit https://www.lmfunding.com.

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

    Contact:
    Crescendo Communications, LLC
    Tel: (212) 671-1021
    Email: LMFA@crescendo-ir.com

    The MIL Network –

  • MIL-OSI: Corporate social responsibility: Boralex’s ambitious greenhouse gas emissions reduction targets validated by the Science Based Targets initiative (SBTi)

    Source: GlobeNewswire (MIL-OSI)

    MONTREAL, Oct. 17, 2024 (GLOBE NEWSWIRE) — Boralex inc. (“Boralex” or the “Company”) (TSX: BLX) is proud to announce that it is one of the few companies in the renewable energy sector to have its greenhouse gas (GHG) emissions reduction targets validated by the Science Based Targets initiative (SBTi). This recognition confirms that Boralex’s commitment to reach net-zero GHG emissions by 2050 across its entire value chain is science-based and aligned with a trajectory to achieve the goals set by the Paris Agreement of limiting global temperature increases to less than 1.5oC.

    “The validation of our targets by the SBTi is perfectly in line with our strategic objective of becoming the reference in corporate social responsibility (CSR) for our partners. Today’s announcement consolidates our leadership role in our industry, reinforces our commitment to produce renewable energy in the best possible way, and resonates with our organizational purpose, which aims to benefit future generations,” said Patrick Decostre, President and CEO of Boralex.

    “I’m extremely proud of the monumental work carried out by many Boralex employees in recent years, which today enables us to be among the first companies in our industry to have our targets validated by the SBTi initiative. In addition to representing concrete, ambitious and realistic actions to fight climate change, this commitment shows that we are anticipating market needs, including compliance with upcoming CSR regulatory frameworks,” said Mihaela Stefanov, Senior Vice President, Enterprise Risk Management and Corporate Social Responsibility.

    To reach net-zero by 2050, the most ambitious designation available through the SBTi process, Boralex has set near- and long-term targets covering 100% of emissions from its entire value chain (Scope 1, 2 and 3):

    • Near-term: By 2030, Boralex is committed to reducing its absolute Scope 1 and 2 emissions by 42% from a base year of 2022, and by 2028, to having 90% of its major component suppliers have science-based reduction targets.
    • Long-term: By 2050, Boralex is committed to reducing its absolute Scope 1 and 2 emissions by 90% and its Scope 3 emissions per kWh produced and sold by 97%, from a base year of 2022.

    To ensure that every kWh generated and produced is as low-carbon as possible, Boralex relies, among other factors, on the gradual electrification of its vehicle fleet, the consumption of electricity from renewable sources at its sites and buildings, and partnerships with strategic low-carbon suppliers.

    The validation of our targets by the SBTi, a reputable global organization supported by 130 specialists based in North America and Europe, is a central element in our overall CSR and risk management strategy. Indeed, it was essential for Boralex to go beyond a GHG emissions reduction objective by adopting an action plan to achieve this objective that is concrete, realistic and backed by a recognized authority. For more details on our CSR commitments and actions, visit the Boralex website.

    About Boralex

    At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France’s largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has more than doubled to over 3 GW. We are developing a portfolio of more than 6.8 GW in wind, solar projects and storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise and our diversity, we continue to be an industry leader. Boralex’s shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.

    For more information, visit boralex.com or sedarplus.com. Follow us on Facebook, Twitter, LinkedIn and Instagram.

    For more information

    Source: Boralex inc.

    The MIL Network –

  • MIL-OSI: Richtech Robotics Expands Agreement with Ghost Kitchens to Manage 20 Additional Walmart-Located Restaurants, Growing its Restaurant Operations Model

    Source: GlobeNewswire (MIL-OSI)

    Company’s subsidiary, AlphaMax Management LLC, will optimize operations through the use of robotics and AI cloud technology at restaurants across Arizona, Colorado, and Texas

    LAS VEGAS, Oct. 17, 2024 (GLOBE NEWSWIRE) — Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics” or the “Company”), a Nevada-based provider of AI-driven service robots, today announces that it is expanding its restaurant operations model with the signing of a binding Letter of Intent (LOI) with Ghost Kitchens America. Under the terms of the LOI, Richtech Robotics agreed to enter into a franchise agreement with Ghost Kitchens America, pursuant to which the Company will acquire exclusive rights to operate 20 Walmart-located restaurants in Arizona, Colorado, and Texas. These restaurants will be directly managed by Richtech Robotics’ subsidiary, AlphaMax Management LLC, with the aim of optimizing restaurant operations through robotics and AI cloud technology. Each location is expected to generate between $700 thousand and $2 million in annual revenue.

    Richtech Robotics is deploying its proprietary automation to enhance operational efficiency, augment and personalize customer experiences, and lower operational costs. The establishment and ongoing management of these restaurants is anticipated to provide a clear, repeatable operational blueprint that businesses can use to scale robotic deployment and optimize their business model.

    Matt Casella, President of Richtech Robotics, stated: “Richtech Robotics is committed to the commercialization of robotics, through both robotic sales and the operation of our own robot-powered restaurants. This agreement will significantly add to our restaurant portfolio, and these high-traffic locations will bring greater visibility to our brand and our solutions. Our restaurant operations will showcase the very same robotic and AI platforms offered through our RaaS (Robotics-as-a-Service) business model. We expect these platforms to become a fast-growing and stable revenue stream for us as we leverage them to manage thousands, and eventually tens of thousands, of restaurant operations in the future.”

    George Kottas, CEO of Ghost Kitchens America, commented: “All Walmart locations where we’ve signed agreements with Richtech Robotics have strong sales numbers and steady customer traffic. Based on our previous collaborations, Ghost Kitchens is confident that Richtech Robotics’ robotic technology and operational management services will maximize the performance of these restaurants. We look forward to further expanding our partnership with Richtech Robotics as we rapidly grow our restaurant footprint.”

    In addition to today’s announcement, the Company has already secured exclusive operational rights for the Ghost Kitchen at a Walmart location in Rockford, Illinois. Additionally, Richtech Robotics has signed a franchise agreement for another Walmart restaurant in Peachtree, Georgia, which is expected to begin operations later this year.

    Through AlphaMax Management LLC, Richtech Robotics is operating these restaurants and advancing the application of robotic technology in the food service industry, with the goal of helping businesses reduce costs and improve efficiency.

    About Richtech Robotics

    Richtech Robotics is a provider of collaborative robotic solutions specializing in the service industry, including the hospitality and healthcare sectors. Our mission is to transform the service industry through collaborative robotic solutions that enhance the customer experience and empower businesses to achieve more. By seamlessly integrating cutting-edge automation, we aspire to create a landscape of enhanced interactions, efficiency, and innovation, propelling organizations toward unparalleled levels of excellence and satisfaction. Learn more at http://www.RichtechRobotics.com and connect with us on X (Twitter), LinkedIn, and YouTube.

    About Ghost Kitchens International (GKI)

    With restaurants across Canada and the US, GKI is expanding to open 240 new restaurants under the ONE KITCHEN banner in USA and Canada. Each restaurant features multiple national brands made to order, a single operator, innovative front and back-of-house technology, and walk-in and delivery customers. For more information go to http://www.ghostkitchenbrands.com.

    Forward Looking Statements

    Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Such forward-looking statements include, but are not limited to, statements regarding the anticipated success and benefits of the partnership with Ghost Kitchens America, including the ability of each location to generated expected annual revenue.

    These forward-looking statements are based on Richtech Robotics’ current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements include, among others, risks and uncertainties related to the parties’ ability to negotiate and execute a definitive agreement in connection with the LOI; Richtech Robotics’ ability to implement the definitive agreement; the ability of each location to generated the expected amount of annual revenue; and Richtech Robotics’ ability to realize the benefits described herein. Investors should read the risk factors set forth in Richtech Robotics’ Annual Report on Form 10-K/A, filed with the SEC on March 27, 2024, the Registration Statement and periodic reports filed with the SEC on or after the date thereof. All of Richtech Robotics’ forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof. New risks and uncertainties arise over time, and it is not possible for Richtech Robotics to predict those events or how they may affect Richtech Robotics. If a change to the events and circumstances reflected in Richtech Robotics’ forward-looking statements occurs, Richtech Robotics’ business, financial condition and operating results may vary materially from those expressed in Richtech Robotics’ forward-looking statements.

    Readers are cautioned not to put undue reliance on forward-looking statements, and Richtech Robotics assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:

    Investors:
    CORE IR
    Matt Blazei
    ir@richtechrobotics.com

    Media: 
    Timothy Tanksley
    Director of Marketing
    Richtech Robotics, Inc
    press@richtechrobotics.com
    702-534-0050

    The MIL Network –

  • MIL-OSI Europe: ASIA/INDIA – Bishops on the death of businessman Ratan Tata: “A beacon of compassion” esteemed by the Catholics

    Source: Agenzia Fides – MIL OSI

    Bangalore (Agenzia Fides) – “Ratan Tata was an icon among entrepreneurs, a visionary leader and a philanthropist whose indelible contribution to society will be remembered for generations,” said the Indian Bishops’ Conference on the death of the well-known Indian businessman Ratan Tata, who died on October 9 at the age of 86. The former chairman of the “Tata Group”, which operates mainly in the automobile sector, was a “beacon of mercy and generosity”. “Through the Tata Trusts and his numerous philanthropic initiatives,” say the bishops, “he changed the lives of millions of people by supporting the cause of the marginalized and playing a fundamental role in the development of India. His unwavering commitment to social justice, education, healthcare and rural development was closely aligned with the core values of the Catholic Church, particularly its mandate to serve the poor and the vulnerable,” the statement said. The moral and spiritual legacy of Tata, who was born into a family of Parsi origin, is particularly recognized for his “ethical leadership, integrity and commitment to social causes” that “set a new standard for corporate social responsibility in India.” In addition to his remarkable contribution to the Indian economy, “he did not lose sight of the need to help the underprivileged,” the statement said. The Catholic Church in India recognizes him as an “extraordinary human being” and hopes that “his inspiring leadership and boundless generosity” will inspire many people and entrepreneurs in India, especially the youth, to “work for the betterment of society and serve others with selflessness and compassion.” Catholics will work together with all Indian citizens from all cultural and religious groups “for a fairer and more balanced society, realizing the values that Tata upheld and lived throughout his life,” the bishops assured. The Claretian missionary George Kannanthanam, who lives with lepers in Sumanahalli near Bangalore, commented: “Tata was a great role model by putting the Christian principles of truth, justice, equality, humility and mercy into practice.” “He spent most of his wealth on the welfare of the weaker sections of the population. He created great institutions for social welfare and development that changed India’s social landscape. He supported educational centers to encourage youth,” the priest recalls. “As an entrepreneur, he stood by the workers and gave them dignity and hope. He made life better for the disabled and the elderly,” the priest continues, describing Tata as “a different kind of businessman, compassionate, guided by the Gandhian motto: When you make a decision, think whether it will benefit the poorest person in the country.” For all this, he was loved by the 700,000 employees of his 19 companies in more than 100 countries, with a net worth of $400 billion. For example, in 2012, when the Tata Steel Company in Jamshedpur was downsized from 78,000 to 40,000 employees, the entrepreneur ensured that all laid-off workers continued to receive their wages until retirement age. “A decision that is unprecedented in history anywhere else in the world,” Father Kannanthanam notes, recalling that Tata’s total contribution to various charitable initiatives is roughly estimated at around $100 billion. If “God loves a cheerful giver, God loves Ratan Tata very much,” he concludes. (PA) (Agenzia Fides, 17/10/2024)
    Share:

    MIL OSI Europe News –

  • MIL-OSI Russia: GUU at the All-Russian Conference on Technological Entrepreneurship

    MILES AXLE Translation. Region: Russian Federation –

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

    The Director of the Business Incubator of the State University of Management took part in the All-Russian Conference “Technological Entrepreneurship, Science and Financial Development of Universities”, which was held from October 14 to 16 at the Moscow Institute of Physics and Technology.

    The conference discussed current issues related to the development of technological entrepreneurship, commercialization of scientific developments and startup projects, financial support for innovative and technological business processes in higher education. The speakers shared best practices and their personal experience with the participants, talked about current support measures and mechanisms for increasing the effectiveness of interaction between science, business and the state in the field of technological entrepreneurship.

    The event was opened by Oleg Churilov, Director of the Department for Development of Technological Entrepreneurship and Technology Transfer of the Ministry of Education and Science of Russia. He presented the results of the implementation of the federal project “University Technological Entrepreneurship Platform” and emphasized that technological entrepreneurship today is a driver of economic development, because it is thanks to entrepreneurship that technological startups and new jobs are created.

    MIPT Rector Dmitry Livanov told conference participants about the role of universities in technological development and shared his experience in creating innovative products, noting the importance of applied science, which facilitates the implementation of new technologies and solutions.

    The State University of Management was represented at the meeting by the Director of the State University of Management Business Incubator, Dmitry Rogov.

    A separate section of the conference was devoted to the implementation of the Startup as a Diploma program in universities. Olga Serebryannikova, Director of the Project Office for the Development of Youth Entrepreneurship in Higher Education Institutions of the Ministry of Education and Science of Russia, presented key indicators for the program’s implementation in the 2023/24 academic year to the event participants.

    The speakers also included representatives of the Skolkovo Foundation, Sberbank PJSC, Gazprom Neft PJSC, NTI Platform ANO and other organizations.

    It should be noted that the State University of Management has been successfully integrated into the projects of the Platform of University Technological Entrepreneurship of the Ministry of Education and Science of Russia. Our students took part in the All-Russian Forum of Technological Entrepreneurship, thematic day “Science and Universities”, the festival “Technocode” and other events of the Platform.

    In addition, the university is implementing acceleration programs for NTI markets, and this academic year, GUU has become a partner university for entrepreneurial competencies training, which will be held at the First Management University on October 24 and November 28.

    Subscribe to the TG channel “Our GUU” Date of publication: 10/17/2024

    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.

    GUU at the All-Russian Conference on Technological Entrepreneurship

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: G7 Cyber Expert Group recommends action to combat financial sector risks from quantum computing

    Source: United Kingdom – Executive Government & Departments

    G7 Cyber Expert Group publishes guidance for the finance sector on planning for quantum computing.

    The G7 Cyber Expert Group (CEG) – chaired by the U.S. Department of the Treasury and the Bank of England – released a public statement on 25 September highlighting the potential cybersecurity risks associated with developments in quantum computing and recommending steps for financial authorities and institutions to take to address those risks.

    G7 Cyber Expert Group statement on planning for the opportunities and risks of quantum computing (PDF, 483 KB, 3 pages)

    Quantum computers are being built that will be able to solve computational problems currently deemed impossible for conventional computers to solve within a reasonable amount of time.  While potentially providing significant benefits to the financial system, these powerful computers will also carry with them unique cybersecurity risks.  One of the most significant is that cyber threat actors could use quantum computers to defeat certain cryptographic techniques that secure communications and IT systems, potentially exposing financial entity data, including customer information.

    While the exact timeline for developing quantum computers with these capabilities is uncertain, there is a real possibility that such capabilities could emerge within a decade. These quantum computers would not only put future data at risk, but also any previously transmitted data that cyber adversaries have been able to intercept and store with the intent of decrypting later with quantum computers. Due to the potentially long lead time needed to put in place quantum-resilient technologies, the time to start planning is now.

    An initial set of quantum-resilient encryption standards was released by the National Institute of Standards and Technology (NIST) last month. Additional standards from NIST and other standard-setting bodies are expected in the future. It is important for financial entities to maintain the agility required to incorporate new encryption standards in a timely and appropriate manner as they become available.

    With the availability of NIST’s standards, some financial entities may be in a position now to start making the needed changes to implement quantum resilient technologies within their systems. Others may be dependent on vendors and other third parties to develop implementations of the new standards that can be incorporated once they become available. No matter where entities are in their adoption timelines, the G7 CEG strongly encourages financial authorities and institutions to begin taking the following steps to build resilience against quantum computing risks:

    1. Develop a better understanding of the issue, the risks involved, and strategies for mitigating those risks.
    2. Assess quantum computing risks in their areas of responsibility.
    3. Develop a plan for mitigating quantum computing risks.

    The CEG statement provides additional details on quantum computing risks and the specific actions that financial entities can start taking to build quantum resilience within the financial system.

    The G7 CEG’s membership includes representatives of financial authorities across all G7 jurisdictions as well as the European Central Bank.  It was founded in 2015 to serve as a multi-year working group that coordinates cybersecurity policy and strategy across the member jurisdictions.  In addition to policy coordination, the G7 CEG also acts as a vehicle for information sharing, cooperation, and incident response.

    Updates to this page

    Published 17 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Economics: RBI imposes monetary penalty on GoCapital Finance Limited, Chennai, Tamil Nadu

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated October 07, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on GoCapital Finance Limited, Chennai, Tamil Nadu (the company) for non-compliance with certain provisions of ‘Master Direction-Reserve Bank of India (Non-Banking Financial Company-Scale Based Regulation) Directions, 2023’, issued by RBI. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of clause (b) of sub-section (1) of section 58G read with clause (aa) of sub-section (5) of section 58B of the Reserve Bank of India Act, 1934.

    The correspondence of the company pertaining to the intimation of appointment of additional director revealed, inter alia, non-compliance with RBI directions on change in management of Non-Banking Financial Company. Based on the findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for failure to comply with the said directions. After considering the company’s reply to the notice and oral submissions made by it during the personal hearing, RBI found, inter alia that the following charge against the company was sustained, warranting imposition of monetary penalty.

    The company failed to take prior written permission of the RBI for effecting change in management resulting in change of more than 30 per cent of its directors, excluding independent directors.

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

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1326

    MIL OSI Economics –

  • MIL-OSI Economics: RBI imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Mandsaur, Madhya Pradesh

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated October 07, 2024, imposed a monetary penalty of ₹2.50 lakh (Rupees Two Lakh Fifty Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Mandsaur, Madhya Pradesh (the bank), for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with section 46(4)(i) and section 56 of the BR Act.

    The statutory inspection of the bank was conducted by the National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2023. Based on supervisory findings of non-compliance with statutory provisions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said provisions.

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

    The bank had failed to transfer eligible unclaimed deposit amounts to the Depositor Education and Awareness Fund within the prescribed period.

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

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1327

    MIL OSI Economics –

  • MIL-OSI Economics: RBI imposes monetary penalty on The Kottarakara Co-operative Urban Bank Limited, Kerala

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated October 07, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Kottarakara Co-operative Urban Bank Limited, Kerala (the bank) for non-compliance with specific directions issued by RBI under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

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

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

    The bank had sanctioned/renewed credit facilities to sectors having high level of NPA / defaults in non-adherence to directions issued under SAF.

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

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1325

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