NewzIntel.com

Category: Business

  • MIL-OSI: Invesco Ltd: Form 8.3 – Learning Technologies Group PLC; 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    		 Learning Technologies Group PLC  
    (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    		 11.10.2024  
    (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: 0.375p ordinary GB00B4T7HX10  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 8,079,444 1.02      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 8,079,444 1.02      
       
    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  
    0.375p ordinary GB00B4T7HX10 Sale 3,381,761 0.93 GBP  
       
    (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 14.10.2024  
    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: RYVYL to Present at the LD Micro Main Event XVII

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, CA, Oct. 14, 2024 (GLOBE NEWSWIRE) — RYVYL Inc. (NASDAQ: RVYL) (“RYVYL” or the “Company”), a leading innovator of payment transaction solutions leveraging proprietary blockchain ledger and electronic payment technology for diverse international markets, today announced it will participate at the LD Micro Main Event XVII being held October 28-30, 2024, at the Luxe Sunset Blvd Hotel in Los Angeles.

    RYVYL Chairman and Co-Founder, Ben Errez, and Chief Financial Officer, George Oliva, will be in attendance to present to conference attendees and available for 1×1 meetings with investors throughout the conference. For more information on the LD Micro Main Event XVII, or to schedule a one-on-one meeting, please contact your conference representative, or email your request to RYVYL@lhai.com.

    Presentation Time:  October 29, 11:00 am PT
       Webcast Link
       

    The webcast of the presentation will also be found on the investor relations section of RYVYL’s website: RYVYL Investor Events.

    About RYVYL

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

    Cautionary Note Regarding Forward-Looking Statements

    This press release includes information that constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Company’s current beliefs, assumptions, and expectations regarding future events, which in turn are based on information currently available to the Company. Such forward-looking statements include statements regarding the timing and expectation of revenues from the license described herein and are characterized by future or conditional words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information.

    By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements, including the risk that the licensee understands and complies with various banking laws and regulations that may impact the licensee’s ability to process transactions. For example, federal money laundering statutes and Bank Secrecy Act regulations discourage financial institutions from working with operators of certain industries – particularly industries with heightened cash reporting obligations and restrictions – as a result of which, banks may refuse to process certain payments and/or require onerous reporting obligations by payment processors to avoid compliance risk. These and other risk factors affecting the Company are discussed in detail in the Company’s periodic filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether because of the latest information, future events or otherwise, except to the extent required by applicable laws.

    IR Contact: David Barnard, LHA Investor Relations, 415-433-3777, RYVYL@lhai.com

    The MIL Network –

  • MIL-OSI: Šiaulių Bankas AB plans a bond offering, subject to market conditions

    Source: GlobeNewswire (MIL-OSI)

    Šiaulių Bankas AB plans an offering of Fixed Rate Reset Perpetual Additional Tier 1 Temporary Write Down Notes, subject to market conditions.

    THIS NOTICE DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER, INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF AKCINĖ BENDROVĖ ŠIAULIŲ BANKAS.

    On 14 October 2024, the Management Board of Šiaulių Bankas AB approved an offering of Fixed Rate Reset Perpetual Additional Tier 1 Temporary Write Down which would follow subject to market conditions.

    Šiaulių Bankas AB has mandated Goldman Sachs Bank Europe SE as Lead Manager to arrange a series of virtual fixed income investor meetings commencing on 14 October. Relevant stabilisation regulations including FCA/ICMA will apply.

    This communication is not an offer of securities or investments for sale nor a solicitation of an offer to buy securities or investments in any jurisdiction where such offer or solicitation would be unlawful. No action has been taken that would permit an offering of securities or possession or distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.

    Additional information:
    Tomas Varenbergas
    Head of Investment Management Division
    tomas.varenbergas@sb.lt   

    The MIL Network –

  • MIL-OSI: Publication of eQ Plc’s Q3 2024 interim report and invitation to result presentation

    Source: GlobeNewswire (MIL-OSI)

    eQ Plc Investor news
    14 October 2024, at 2:00 p.m.

    eQ Plc will publish its Q3 2024 interim report on Tuesday 22 October 2024 at around 8:00 a.m. eQ will present the result to press, investors and analysts in a press conference to be held on 22 October 2024 at 11:00 a.m. The press conference will held at eQ’s head office in Helsinki, address Aleksanterinkatu 19, 5th floor, 00100 Helsinki and it is also possible to participate via webcast. The webcast participation requires a registration.

    The press conference will be held in Finnish. The presentation material can be viewed at eQ’s website after the press conference has begun. To join the press conference, please register with Nicolina.Zilliacus@eq.fi.

    eQ Plc

    Additional information: Mikko Koskimies, CEO, tel. +358 9 6817 8799

    Distribution: Nasdaq Helsinki, http://www.eQ.fi, media

    eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the Group total approximately EUR 13.2 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.

    More information about the Group is available on our website at http://www.eQ.fi.

    The MIL Network –

  • MIL-OSI: ASM informs the market about ASMPT announcement

    Source: GlobeNewswire (MIL-OSI)

    Almere, The Netherlands
    October 14, 2024, 1:00 p.m. CET

    ASM international N.V. (Euronext Amsterdam: ASM) informs the market that ASMPT, in which ASM has a shareholding of approximately 25%, today announced that it received a non-binding approach in relation to a possible privatization of ASMPT. 

    ASM is a shareholder in ASMPT Ltd. (“ASMPT”), which today issued an announcement that its board has received a preliminary non-binding approach from an independent third party (the “Potential Offeror”) in relation to a possible privatization of ASMPT. ASMPT further mentioned in its announcement today that discussions are at an early stage and that it has not reached any agreement with the Possible Offeror for any offer, and that there is no certainty that the preliminary non-binding approach will lead to an offer being made in relation to its shares.

    About ASM International

    ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM International’s common stock trades on the Euronext Amsterdam Stock Exchange (symbol: ASM). For more information, visit ASM’s website at http://www.asm.com.

    Cautionary note regarding forward-looking statements: All matters discussed in this press release, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, changes in import/export regulations, epidemics, pandemics and other risks indicated in the company’s reports and financial statements. The company assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances.
    This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Contact

    Investor and media relations

    Victor Bareño
    T: +31 88 100 8500
    E: investor.relations@asm.com

    		  

    Investor relations

    Valentina Fantigrossi
    T: +31 88 100 8502
    E: investor.relations@asm.com

    The MIL Network –

  • MIL-OSI: OTC Markets Group Welcomes Blumetric Environmental, Inc. to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 14, 2024 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Blumetric Environmental, Inc. (TSX-V: BLM; OTCQX: BLMWF), (“BluMetric”) an integrated product and service organization, has qualified to trade on the OTCQX® Best Market. BluMetric Environmental, Inc. upgraded to OTCQX from the Pink® market.

    BluMetric Environmental, Inc. begins trading today on OTCQX under the symbol “BLMWF.”  U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on http://www.otcmarkets.com.

    The OTCQX Market provides investors with a premium U.S. public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. 

    “We are excited to announce our trading debut on the OTCQX,  a milestone that reflects our commitment to connecting with a broader investor base,” said Scott MacFabe, CEO of BluMetric. “This achievement coincides with our strategic expansion into the U.S. market through our recent acquisition of Gemini Water. We look forward to leveraging this platform as we execute on our new opportunities and drive shareholder value.”

    About BluMetric Environmental Inc.
    BluMetric Environmental Inc. is an integrated product and service organization. It principally provides sustainable solutions for complex environmental issues. It serves clients in many industrial sectors, and at all levels of government, both domestically and internationally. The organization offers services and solutions such as environmental earth sciences and engineering; contaminated site remediation; water resource management; industrial hygiene; occupational health and safety; and water and wastewater design-build and pre-engineered solutions. It operates in Canada and internationally, of which the majority of the revenue is derived from the operations in Canada.

    About OTC Markets Group Inc.
    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

    Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading.  Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

    To learn more about how we create better informed and more efficient markets, visit http://www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    Media Contact:
    OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

    The MIL Network –

  • MIL-OSI: Baker Hughes, Repsol to Develop Next Generation Digital Capabilities Through Leucipa™

    Source: GlobeNewswire (MIL-OSI)

    • Companies will develop new AI-powered processes and workflows to achieve further optimization in oil and gas production
    • Knowledge sharing will enhance Leucipa’s capabilities

    HOUSTON and LONDON, Oct. 14, 2024 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR), an energy technology company, and Repsol, a global multi-energy company, announced Monday a new agreement to collaboratively develop and deploy next-generation artificial intelligence capabilities through the Leucipa™ automated field production solution.

    Through this strategic collaboration, AI-powered automation workflows will be developed and implemented throughout Repsol’s assets around the globe to unlock new operational capabilities. This collaboration will leverage the shared knowledge, best practices and technical expertise of both companies to optimize production, improve efficiency and reduce emissions.

    “Artificial intelligence is revolutionizing energy production, and Leucipa enables companies to operate more efficiently to recover more from their assets,” said Amerino Gatti, executive vice president of Oilfield Services & Equipment at Baker Hughes. “Repsol has long been a trusted collaborator, and their support has helped Leucipa develop into the industry’s most innovative and effective digital production software. We are excited to work together to accelerate the energy industry’s digital evolution.”

    Repsol has leveraged Leucipa across their operations since the introduction of the solution, helping to optimize their digital infrastructure and operational capabilities. The memorandum of understanding signed Oct. 11, 2024, will deepen that relationship while also reinforcing Repsol’s position as an industry leader and creating new commercial opportunities for Leucipa.

    The Leucipa automated field production solution helps oil and gas operators proactively manage production and reduce carbon emissions. Leucipa focuses first on the specific outcome an operator wants to achieve, harnessing and leveraging data to drive intelligent operations. By automating production processes, Leucipa will reduce inefficiency, ensure more environmentally sound operations, and enable customers to help recover the millions of barrels that would have otherwise remained in the ground.

    About Baker Hughes
    Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

    For more information, please contact:

    Media Relations

    Brian Reynolds
    +1 346-315-6663
    brian.reynolds@bakerhughes.com

    Investor Relations:

    Chase Mulvehill
    +1 346-297-2561
    investor.relations@bakerhughes.com

    The MIL Network –

  • MIL-OSI: Dragonfly Energy Announces Dragonfly IntelLigence™ Smart Battery Technology for Heavy Duty Trucking Lithium Power Systems

    Source: GlobeNewswire (MIL-OSI)

    NASHVILLE, Tenn., Oct. 14, 2024 (GLOBE NEWSWIRE) — Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy” or the “Company”), an industry leader in energy storage and maker of Battle Born Batteries®, unveiled at the American Trucking Associations’ annual Management Conference & Exhibition its Dragonfly IntelLigence™ technology for the heavy duty trucking industry. This patent-pending smart battery technology gives fleets and truck drivers real-time system monitoring and app-based connectivity, providing full visibility over their battery system. Building upon the proven reliability of Battle Born Batteries, Dragonfly IntelLigence represents the next generation of the Company’s energy storage solutions, designed to optimize performance and efficiency in demanding commercial applications.

    Dragonfly IntelLigence communication technology empowers drivers with real-time insights into their entire battery system, providing visibility at both the individual battery level and the system as a whole. By combining a wireless mesh network with Bluetooth connectivity, drivers can use the Battle Born mobile app to monitor battery life, set custom alerts, and access historical usage data. This comprehensive connectivity, unique to Dragonfly Energy’s system, provides a significant advantage over competitor Bluetooth solutions, and will provide drivers with peace of mind and enhanced control over their power source. Additionally, through the Dragonfly IntelLigence Hub, OEMs can transmit battery data via external communication protocols, such as RV-C (Recreation Vehicle-CAN), allowing for seamless integration with in-cab displays and fleet management systems.

    This new, advanced smart lithium solution provides a powerful addition to the Company’s award-winning Battle Born® All-Electric Auxiliary Power Unit (“APU”), delivering enhanced capabilities beyond what was previously available. The advanced monitoring capability of Dragonfly IntelLigence, gives drivers the visibility to now have complete confidence in the company’s lithium powered system’s ability to maintain power during rest periods, eliminating the need for idling or auto start/stop.

    “The integration of our patented Dragonfly IntelLigence technology marks a significant advancement for our APU solution,” said Wade Seaburg, chief revenue officer of Dragonfly Energy. “This upgrade gives drivers comprehensive visibility over their battery system so they can rest easy knowing the battery won’t drain nor the truck restart while they are trying to sleep. By prioritizing driver experience and efficiency, we’re helping fleets reduce costs and improve sustainability.”

    The Battle Born All-Electric APU, equipped with Dragonfly IntelLigence as an optional upgrade, is available now to fleets and OEMs, with public availability to owner/operators expected by the end of the calendar year 2024.

    For more information about Dragonfly Energy, visit DragonflyEnergy.com. To learn more about Dragonfly IntelLigence™ click here.

    About Dragonfly Energy 
    Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) is a comprehensive lithium battery technology company, specializing in cell manufacturing, battery pack assembly, and full system integration. Through its renowned Battle Born Batteries® brand, Dragonfly Energy has established itself as a frontrunner in the lithium battery industry, with hundreds of thousands of reliable battery packs deployed in the field through top-tier OEMs and a diverse retail customer base. At the forefront of domestic lithium battery cell production, Dragonfly Energy’s patented dry electrode manufacturing process can deliver chemistry-agnostic power solutions for a broad spectrum of applications, including energy storage systems, electric vehicles, and consumer electronics. The Company’s overarching mission is the future deployment of its proprietary, nonflammable, all-solid-state battery cells.

    To learn more about Dragonfly Energy and its commitment to clean energy advancements, visit http://www.dragonflyenergy.com/investors.

    Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company’s intent, belief, or expectations, including, but not limited to, statements regarding Dragonfly IntelLigence™, the Company’s future results of operations and financial position, planned products and services, business strategy and plans, market size and growth opportunities, competitive position and technological and market trends. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions.

    These forward-looking statements are subject to risks, uncertainties, and other factors (some of which are beyond the Company’s control) which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such factors include those set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company’s subsequent filings with the SEC available at http://www.sec.gov. If any of these risks materialize or any of the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Investor Relations
    Caldwell Bailey
    ICR, Inc.
    DragonflyIR@icrinc.com

    Media Contacts:
    Susan Fall
    LaunchIt Public Relations
    619-890-9415
    susan@launchitpr.com

    Amy Demuth
    RAD Strategies Inc.
    775-323-6333
    dragonfly@radstrategiesinc.com

    Source: Dragonfly Energy Holdings Corp.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cef2a1be-a6b5-4b51-8326-698f3f3f7227

    The MIL Network –

  • MIL-OSI Russia: Rosneft athletes took part in the Moscow Marathon and the Energy of Life race

    MILES AXLE Translation. Region: Russian Federation –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    The Rosneft team took part in one of the largest running competitions in the country – the Moscow Marathon – for the eleventh time. 177 employees of the Company took part in the marathon, running the 42.2 km distance, as well as the 10 km distance in the individual competition.

    Support for mass, professional and youth sports and healthy lifestyle is one of the key areas of social work of Rosneft and its subsidiaries. Sports complexes, ice arenas, and multifunctional sports grounds are built in the regions of presence with the Company’s funds. Dozens of modern large sports facilities have been opened in the regions of Russia with the support of Rosneft. The company supports projects for the development and popularization of physical culture and healthy lifestyle.

    The Moscow Marathon traditionally involves the largest Russian companies from various sectors of the economy, as well as teams of the best amateur and semi-professional running communities. This year, a record number of participants registered for the competition – more than 40,000 athletes from Russia and neighboring countries. On October 12, the 10 km race started, during which many of the Company’s employees set personal records.

    On October 13, Rosneft athletes took to the start line of the marathon distance – both in the individual race and in the relay. The Rosneft relay team, consisting of amateur athletes, showed an impressive result – 5th place among 129 teams with a time of 2:25:10 and an average pace over the distance of 3 minutes 26 seconds. The runners managed to improve last year’s result by 3 minutes.

    Rosneft is a regular participant in corporate races within the Moscow Marathon, demonstrating high sporting achievements every year. The team’s results are among the top five in the history of the Moscow Marathon.

    In addition, according to established tradition, every October the Company’s athletes and their family members join the all-Russian corporate run “Energy of Life”. Last week, the competition stages were held in Moscow, Samara, Tyumen, and on October 12, they ended in Krasnodar.

    About 300 people took part in the start in Krasnodar. Participants ran distances of 2.5 km, 5 km and 10 km. The length of the tracks for children’s races was 500 m and 2.5 km. Competitions among adults were held according to the GTO standards in the category from 18 to 64 years old.

    The winners of the competition were awarded by two-time World Cup champion and European Sambo champion Vasily Karaulov. In the Team Spirit nomination, two teams were recognized: RN-Krasnodarneftegaz and NK Rosneft Kubannefteprodukt.

    As part of the corporate program “Energy of Life”, the Company carries out large-scale information and organizational work to develop a mass sports movement among employees. More than 106 thousand employees of the Company participate in the corporate-wide sports and health movement. More than 54 thousand take part in competitions in various sports in corporate-wide competitions and challenges, in competitions at the regional and federal levels. Sports training is organized for employees.

    Department of Information and Advertising of PJSC NK Rosneft October 14, 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.

    http://vvv.rosneft.ru/press/nevs/item/220896/

    MIL OSI Russia News –

  • MIL-OSI Russia: Bashneft has introduced a new vehicle management system

    MILES AXLE Translation. Region: Russian Federation –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    ANK Bashneft (part of Rosneft) has organized the work of the Unified Transport Management Center, which significantly increases the efficiency of the Company’s vehicle fleet. According to preliminary estimates, the economic effect from the implementation of the innovation will amount to 350 million rubles annually.

    Rosneft is betting on digitalization in all areas of activity, which is one of the key elements of the Company’s strategy. The introduction of digital technologies allows for an increase in the speed of decision-making, as well as the transparency and manageability of processes throughout the entire production chain.

    The Unified Transport Control Center, created by specialists from Bashneft-Dobycha (Bashneft’s operator for oil and gas production), allows for online coordination of service transport operations within the production area. Rosneft service enterprises operating in the Republic of Bashkortostan and adjacent regions are connected to the Center: Bashneft-Stroy, RN-Burenie, RN-Service, RN-Remont NPO, and RN-Transport.

    The Center receives all information about technological or passenger transport: location, order fulfillment status, driver contacts, etc. The system allows to meet the transport needs of several enterprises of the Company during one shift. The Center operates under the control of a telematic electronic platform developed by Rosneft’s IT integrator, Sibintek Investment Company.

    Thanks to the introduction of a new transport management system, time losses in the operation of transport servicing drilling crews, well maintenance crews and oilfield equipment have been significantly reduced. The use of innovative technology allows for increased efficiency in the use of the vehicle fleet and, ultimately, production processes as a whole.

    Reference:

    ANK Bashneft is one of the oldest enterprises in the country’s oil and gas industry, operating in the extraction and processing of oil and gas. The company’s key assets, including an oil refining and petrochemical complex, are located in the Republic of Bashkortostan. Oil and gas exploration and production are also carried out in the Khanty-Mansiysk Autonomous Okrug – Yugra, the Nenets Autonomous Okrug, the Orenburg Region, the Perm Territory and the Republic of Tatarstan.

    Department of Information and Advertising of PJSC NK Rosneft October 14, 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.

    http://vvv.rosneft.ru/press/nevs/item/220895/

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: Tech Secretary welcomes foreign investment in UK data centres which will spur economic growth and AI innovation in Britain

    Source: United Kingdom – Executive Government & Departments

    Four major tech firms based in the US have committed to the UK as the place to invest in data centres, fueling Britain’s economic growth and spurring on AI development.

    £6.3 billion global investment into UK data centres.

    The Technology Secretary Peter Kyle has today (Monday 14 October) welcomed the ‘vote of confidence’ in Britain made by US firms CyrusOne, ServiceNow, Cloud HQ and CoreWeave, who have announced the UK will be the home for their data infrastructure worth a total of £6.3 billion.  

    The investments, announced as part of today’s International Investment Summit, will take the total investment in UK data centres to over £25 billion since this government took office, demonstrating the government’s continuous effort in driving growth by partnering with business.

    These new data centres will provide the UK with more computing power and data storage, so that Britain has the necessary infrastructure to train and deploy the next generation of AI technologies, such as complex machine learning models and algorithms. This in turn will help us roll out AI faster in areas like healthcare, which will help everyone live better and healthier lives.

    Technology Secretary Peter Kyle said:

    Tech leaders from all over the world are seeing Britain as the best place to invest with a thriving and stable market for data centres and AI development. 

    Data centres power our day-to-day lives and boost innovation in growing sectors like AI. This is why only last month, I took steps to class UK data centres as Critical National Infrastructure giving the industry the ultimate reassurance the UK will always be a safe home for their investment. Today’s drumbeat of investment is a vote of confidence in Britain and our approach to work with business to deliver sustained growth for all. 

    It comes as Washington DC-headquartered firm CloudHQ is set to develop a new £1.9 billion data centre campus in Didcot, Oxfordshire. 

    The hyper-scale data centre is currently in development and will help meet the UK’s growing demand for AI and machine learning. It will create 1,500 jobs during construction, and 100 permanent jobs once fully operational.

    Hossein Fateh, CloudHQ’s Founder and Chief Executive Officer, said:

    We are very excited to deliver a hyper-scale campus in the UK that is truly an extension of Slough due to our private diverse fibre optic route.

    Our site enables us to build out our campus environment to provide scale and density to meet our customers’ requirements.

    Global AI platform and software leader ServiceNow also confirmed its commitment to the UK market, with plans to invest £1.15 billion into its UK business over the next 5 years. The investment will not only support the future development of AI in the UK, expanding its data centres with Nvidia GPUs for local processing data, but also support new office space as the company significantly grows into employee base beyond its current headcount of 1,000 employees. 

    ServiceNow Chairman and CEO Bill McDermott said:

    Working together, ServiceNow and HM government are on the brink of a great unlock, putting AI to work for people across the country.

    AI-powered transformation is a generational opportunity to champion citizens, empower employees, and delight customers. ServiceNow’s investment will accelerate the UK’s innovation blueprint, redefining how people live and work.

    CyrusOne, a leading global data centre developer headquartered in the United States, announced plans to expand their investment into the UK to £2.5 billion over the coming years. 

    Subject to planning permission, the projects should be operational by Q4 2028 and are expected to create over 1,000 jobs both directly and within its immediate design and construction value chain.

    Eric Schwartz, President and Chief Executive Officer at CyrusOne, said:

    The UK government’s recent ‘critical national infrastructure’ (CNI) designation was a strong signal that data centres are of strategic importance to the UK economy. 

    It has provided CyrusOne with the confidence to continue its expansion in the UK and support the government’s policy ambition to become a centre of excellence for digital services, technology innovation and AI.

    Announcing its second investment in the UK this year, AI hyperscaler CoreWeave also confirmed £750 million to support the next generation of AI cloud infrastructure.  

    Building on its £1 billion investment announced in May and the opening of its European headquarters in London, CoreWeave will be investing a further £750 million in the UK to support the demand for critical AI infrastructure. The investment in the UK is CoreWeave’s second largest investment in a country following the USA. 

    Mike Intrator, CEO and co-founder of CoreWeave:

    CoreWeave’s multiple investments in 2024 are a mark of our confidence in the government’s commitment to attracting global private investment through the creation of a stable, business-friendly environment.

    We are encouraged by the UK’s strong talent pool, which is reflected in our decision earlier this year to open our European headquarters in London, and priority focus on investing in critical infrastructure, to drive the continued development of the UK’s thriving AI sector.

    Today’s investments follow major deals with investment giant Blackstone, who committed to £10 billion investment in the North East of England last month, and Amazon Web Services, who announced they plan to invest £8 billion in building, maintaining and operating data centres in the UK over the next 5 years. 

    Only last month, the Tech Secretary also classed UK data centres as ‘Critical National Infrastructure’ (CNI), giving the sector can greater government support in recovering from and anticipating critical incidents, ensuring the industry remains secure and stable. 

    In July, he also appointed entrepreneur Matt Clifford to kickstart an AI Opportunities Action Plan, which will set out how to boost take up of AI across all parts of the economy, and consider the necessary AI infrastructure, talent, and data access required to drive adoption by the public and private sectors. 

    This week’s International Investment Summit will see ministers and business leaders discuss how the UK can capitalise on emerging growth sectors including health tech and AI, clean energy and creative industries with confirmed speakers including Ruth Porat President & Chief Investment Officer, Alphabet and Google, David Ricks, CEO of Eli Lilly, Alex Kendall CEO of Wayve and Pushmeet Kohli Principal Scientist at Google DeepMind.

    The Prime Minister will take part in an “in conversation” event with former CEO and chairman of Google Eric Schmidt and CEO of GSK Dame Emma Walmsley to discuss how the UK can seize the opportunities of AI to drive growth and productivity, and it’s potential to improve public services such as health and education’

    Tech Secretary Peter Kyle will take part in a conversation about accelerating innovation as well as sign a memorandum of understanding with Elderberry, the world’s largest pharmaceutical firm, which sets the stage for a world-first trial of obesity medications on the NHS, in Greater Manchester, while the company plans to set up a new biotech hub in the UK.

    Notes to editors

    CloudHQ has already secured planning permission to build a state-of-the-art data centre campus in Didcot.

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 300

    Updates to this page

    Published 14 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Economics: RBI imposes monetary penalty on Sri Kalahasti Co-operative Town Bank Limited, Andhra Pradesh

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated October 04, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on Sri Kalahasti Co-operative Town Bank Limited, Andhra Pradesh (the bank) for non-compliance with provisions of Section 31 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the BR Act.

    Based on supervisory findings of non-compliance with statutory provision 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 statutory provision. 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 failed to submit its accounts and balance-sheet together with the auditor’s report for the financial year 2022-23 to RBI within stipulated period of three months.

    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: 2024-2025/1285

    MIL OSI Economics –

  • MIL-OSI: MKS Instruments Announces Third Quarter 2024 Earnings Conference Call

    Source: GlobeNewswire (MIL-OSI)

    ANDOVER, Mass., Oct. 14, 2024 (GLOBE NEWSWIRE) — MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of enabling technologies that transform our world, today announced that the Company will release third quarter 2024 financial results after market close on Wednesday, November 6, 2024.

    A conference call with management will be held on Thursday, November 7, 2024 at 8:30 a.m. (Eastern Time). A live and archived webcast of the call will be available on the company’s website at https://investor.mks.com/. To participate in the call by phone, participants should register online by clicking here, where dial in details will be provided. We encourage participants to register and dial in to the conference call at least 15 minutes before the start of the call to ensure a timely connection.

    About MKS Instruments

    MKS Instruments enables technologies that transform our world. We deliver foundational technology solutions to leading edge semiconductor manufacturing, electronics and packaging, and specialty industrial applications. We apply our broad science and engineering capabilities to create instruments, subsystems, systems, process control solutions and specialty chemicals technology that improve process performance, optimize productivity and enable unique innovations for many of the world’s leading technology and industrial companies. Our solutions are critical to addressing the challenges of miniaturization and complexity in advanced device manufacturing by enabling increased power, speed, feature enhancement, and optimized connectivity. Our solutions are also critical to addressing ever-increasing performance requirements across a wide array of specialty industrial applications. Additional information can be found at http://www.mks.com.

    MKS Investor Relations Contact:
    Paretosh Misra, VP, Investor Relations
    Telephone: (978) 284-4705
    Email: paretosh.misra@mksinst.com

    The MIL Network –

  • MIL-OSI: Asset Entities Signs Macy Gray, Multi-Platinum, Grammy Award Winning Artist, to Design, Develop, and Manage Her Music and Entertainment Discord Community

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Oct. 14, 2024 (GLOBE NEWSWIRE) — Asset Entities Inc. (“Asset Entities” or “the Company”) (NASDAQ: ASST), a provider of digital marketing and content delivery services across Discord and other social media platforms, and a Ternary Payment Platform company, today announced that renowned Grammy Award-winning R&B and soul singer, songwriter, producer and actress Macy Gray has chosen Asset Entities to Design, Develop, and Manage her server on the Discord social community platform.

    Macy Gray is a worldwide icon, revered for her unique approach to sound, lyrics, fashion, and acting. Gray has sold over 25 million album copies worldwide, won a Grammy for Best Female Vocal Performance for her song “I Try,” and has appeared in legendary movies such as Training Day and Spider Man. Macy had essentially given up on her music career when Jeff Blue, who was a young executive at Zomba Music Publishing, heard her demo in 1996 and knew her voice was something the world needed to hear. They developed her sound together, created a bidding war, signed with Epic Records, and Macy’s legend began.

    Macy has decided to team with Asset Entities to create a digital platform to give new artists a shot at stardom, showcasing their talent digitally on the platform Discord. “I am thrilled to be working with Asset Entities,” said Ms. Gray. “Asset Entities represents the future of fan engagement via Discord, and that’s why I chose to partner with the best in the game when it comes to growing fan bases via Discord.”

    Jeff Blue, Asset Entities’ Head of Entertainment, added, “I am so proud to have played a part in discovering Macy back in 1996, and teaming with her again 28 years later is an honor. There’s so much chaos in the music industry right now and I feel that Macy’s musical and personal integrity allows her to be the ideal person to help discover and develop new talent, representing the American dream. She is a role model of courage and faith, and among our century’s greatest entertainers.”

    To learn about Asset Entities, please go to http://www.assetentities.com. To learn about the Ternary payment platform, please go to http://www.ternarydev.com. To learn about Asset Entities 360 suite of discord services, go to http://www.ae360ddm.com and https://discord.gg/ae360ddm.  

    About Asset Entities, Inc.

    Asset Entities Inc. is a technology company providing social media marketing, management, and content delivery across Discord, TikTok, Instagram, X (formerly Twitter), YouTube, and other social media platforms. Asset Entities is believed to be the first publicly traded Company based on the Discord platform, where it hosts some of Discord’s largest social community-based education and entertainment servers. The Company’s AE.360.DDM suite of services is believed to be the first of its kind for the Design, Development, and Management of Discord community servers. Asset Entities’ initial AE.360.DDM customers have included businesses and celebrities. The Company also has its Ternary payment platform that is a Stripe-verified partner and CRM for Discord communities. The Company’s Social Influencer Network (SiN) service offers white-label marketing, content creation, content management, TikTok promotions, and TikTok consulting to clients in all industries and markets. The Company’s SiN influencers can increase the social media reach of client Discord servers and drives traffic to their businesses. Learn more at assetentities.com, and follow the Company on X at $ASST and @assetentities.

    Important Cautions Regarding Forward-Looking Statements

    This press release contains forward-looking statements. In addition, from time to time, representatives of the Company may make forward-looking statements orally or in writing. These forward-looking statements are based on expectations and projections about future events, which are derived from the information currently available to the Company. Such forward-looking statements relate to future events or the Company’s future performance, including its financial performance and projections, growth in revenue and earnings, and business prospects and opportunities. Forward-looking statements can be identified by those statements that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors including those that are described in the section titled “Risk Factors” in the Company’s periodic reports which are filed with the Securities and Exchange Commission. These and other factors may cause the Company’s actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

    Company Contacts:
    Arshia Sarkhani, President and Chief Executive Officer
    Michael Gaubert, Executive Chairman
    Asset Entities Inc.
    Tel +1 (214) 459-3117 
    Email Contact

    Investor Contact:
    Skyline Corporate Communications Group, LLC
    Scott Powell, President
    1177 Avenue of the Americas, 5th Floor
    New York, NY 10036
    Office: (646) 893-5835
    Email: info@skylineccg.com

    The MIL Network –

  • MIL-OSI: Advanced Flower Capital Schedules Third Quarter 2024 Earnings Conference Call for November 13, 2024

    Source: GlobeNewswire (MIL-OSI)

    WEST PALM BEACH, Fla., Oct. 14, 2024 (GLOBE NEWSWIRE) — AFC Gamma, Inc. (Nasdaq:AFCG) (“Advanced Flower Capital” or “AFC”) today announced that it plans to report earnings for the quarter ended September 30, 2024 on Wednesday, November 13, 2024.

    Advanced Flower Capital will host a conference call at 10:00 am Eastern Time on Wednesday, November 13, 2024 to discuss its quarterly financial results. All interested parties are welcome to participate. The call will be available through a live audio webcast at the Investor Relations section of AFC’s website at http://advancedflowercapital.com/. To participate via telephone, please register in advance at this link. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call.

    The complete webcast will be archived for 90 days on the Investor Relations section of AFC’s website.

    About Advanced Flower Capital

    Advanced Flower Capital (Nasdaq:AFCG) is a leading commercial mortgage REIT that provides institutional loans to state law compliant cannabis operators in the U.S. Through the management team’s deep network and significant credit and cannabis expertise, AFC originates, structures and underwrites loans ranging from $10 million to over $100 million, typically secured by quality real estate assets, license value and cash flows. It is based in West Palm Beach, Florida.

    Forward-Looking Statements

    This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the company’s current views and projections with respect to, among other things, operating results and anticipated investments.  All statements other than historical facts, are forward-looking statements. Words such as “believes,” “expects,” “will,” “intends,” “plans,” “guidance,” “estimates,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements.  These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and are not guarantees of future performance, conditions or results.  Certain factors, risks and uncertainties discussed under the caption “Risk Factors” and elsewhere in AFC’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings, could cause actual results and performance to differ materially from those projected in these forward-looking statements. 

    Investor Relations Contact:
    Robyn Tannenbaum
    (561) 510-2293
    ir@advancedflowercapital.com
    advancedflowercapital.com

    Media Contact:
    Profile Advisors
    Rich Myers and Rachel Goun
    (347) 343-2999
    afcgamma@profileadvisors.com

    The MIL Network –

  • MIL-OSI: Red Cat Introduces ARACHNID™ Family of Small ISR and Precision Strike Systems at AUSA 2024

    Source: GlobeNewswire (MIL-OSI)

    SAN JUAN, Puerto Rico, Oct. 14, 2024 (GLOBE NEWSWIRE) — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat”), a drone technology company building hardware and software for military, federal, and commercial operations, today introduced its ARACHNID™ family of unmanned intelligence, surveillance, and reconnaissance (ISR) and precision strike systems. Red Cat unveiled the Family of Systems at AUSA 2024 Annual Meeting and Exposition in Washington D.C.

    The ARACHNID family of systems is purpose built for the U.S. Army’s roadmap to integrate UAS and long endurance aircraft in a combined arms fight with synchronized fire and maneuver across various command levels. Red Cat currently addresses the needs of warfighters at the platoon and company level with drones that span capabilities and endurance for short and medium-range operations in air, land, and maritime environments. Future potential partnerships will enable long-range reconnaissance.

    Red Cat redefines the future of sUAS for defense applications by combining the capabilities of portable, low-cost, and recoverable ISR drones with precision strike payloads. The company is enabling a shift away from legacy, high-cost UAS to highly interoperable systems that can adapt to a rapidly evolving battlefield. This shift includes layered UAS/LE deployment to shape fires and maneuver, extended reach via networks and autonomy, and reduced cognitive burden with increased safety and survivability for warfighters.

    “The U.S. Army has prioritized integrating UAS across military formations from squad to corps and have specific requirements informed by an understanding of emerging real-world threats,” said Jeff Thompson, Red Cat CEO. “We are introducing the ARACHNID™ family of systems to ensure we can react to the rapidly evolving needs of sUAS for short, medium and long range operations. With future partnerships, our drones can be dropped from long endurance aircraft or integrated into unmanned surface vessels to extend reach and penetration at the battlefield’s tactical edge.”

    ARACHNID advances Red Cat’s established leadership in the sUAS space and brings enhanced capabilities and tech integrations to its existing flagship products from Teal. To reflect this technology evolution and the capabilities of the newest model that Red Cat developed for the U.S. Army’s SRR Program of Record, the company has rebranded its flagship within the ARACHNID family of systems:

    • Black Widow™ (successor to Teal 2) is a highly capable, rucksack portable sUAS designed specifically for operation in Electronic Warfare (EW) environments. A fully modular architecture enables swift adaptation to mission requirements including short range reconnaissance and secondary payload operation. Black Widow™ is significantly enhanced from the Teal 2 model with longer endurance, EW resilience, and advanced autonomy.
    • WEB™ (Warfighter Electronic Bridge) is a Ground Control Station purpose built to operate Red Cat’s entire ARACHNID family of systems for military operations. WEB is fully integrated with Kinesis and ATAK to provide seamless integration with platforms and enhance mission effectiveness. WEB can also function as a stand-alone GCS for other non-Red Cat platforms, offering multi-domain versatility.

    To address the needs of medium-range reconnaissance and persistent strike systems, Red Cat is accelerating the development of its FANG™ line of First-Person View (FPV) drones. Additionally, Red Cat’s product roadmap includes TRICHON™, which will build upon the FlightWave Edge 130 Blue, a military-grade VTOL tricopter for medium-range mapping, intelligence, surveillance, and reconnaissance.

    “The Pentagon’s Replicator initiative established a bold mission to accelerate the deployment of attritable sUAS to the warfighter. In concert with Replicator’s mission we are accelerating the development of our products that will enhance the effectiveness and safety of military and security operations,” said George Matus, Red Cat CTO. “In many ways, domestic UAS innovation has been spurred by learnings in Ukraine and Israel, where drones have clearly demonstrated asymmetric warfare. The ARACHNID family of systems represents what we believe the future of drones needs to look like.”

    The new family of systems will leverage ongoing industry collaboration, underpinned by the Red Cat Futures Initiative. Both through Red Cat’s agile internal research and development, as well as robust partnerships, the family of systems will continually iterate with new capabilities across hardware and software. Red Cat has the ability to manufacture these systems at a high production rate with superior quality to meet the demands of our customers globally.

    To meet with Red Cat and see the Black Widow™ and rest of the family of systems, visit booth 330 at AUSA October 14-16, 2024.

    For more information about the Red Cat family of systems and capabilities, visit: https://redcat.red/solutions/family-of-systems/.

    About Red Cat, Inc.  
    Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and Flightwave Aerospace, Red Cat has developed a bleeding-edge Family of ISR and Precision Strike Systems including Black Widow™, a small unmanned system offering the highest-resolution thermal imaging in its class, TRICHON™ Tricopter for extended endurance and range, and FANG™, the industry’s first line of NDAA compliant FPV drones optimized for military operations with precision strike capabilities. Learn more at http://www.redcat.red.

    Forward-Looking Statements 
    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law. 

    Contacts:

    INVESTORS:
    E-mail: Investors@redcat.red

    NEWS MEDIA:
    Indicate Media
    Phone: (347) 880-2895
    Email: peter@indicatemedia.com

    The MIL Network –

  • MIL-OSI Europe: France’s submission of Catherine Geslain-Lanéelle’s candidacy for the position of FAO director general (18.12.18)

    Source: Republic of France in English
    The Republic of France has issued the following statement:

    The first EU candidate to the FAO

    The French candidate was designated on October 15 as the European Union candidate for FAO general director. This is the first time that EU member states are selecting a common candidate for election to the head of this agency. It is also the first time that a woman is a candidate for the position.

    A candidacy to put the fight against hunger and malnutrition back at the top of political agendas

    Since it was founded, the FAO has helped reduce food insecurity and malnutrition. However it must be noted that hunger is once again increasing in the world.

    Catherine Geslain-Lanéelle is determined to give a new impetus to the FAO and its efforts to eradicate hunger by 2030, in line with the UN’s sustainable development goals. Reducing poverty, stepping up rural development and deeply transforming our food systems are all priorities for the French and European candidate. It is vital to bring all member countries and partners around to a shared, renewed vision in order to strengthen the FAO’s efforts to bring about a world free from hunger and malnutrition.

    To that end, the candidate pledges to expand cooperation and synergies with other UN organizations, especially the IFAD, WFP and the WHO. She wishes to contribute fully to the implementation of UN reform, strengthening cooperation with scientific and technical bodies and all relevant actors.

    Catherine Geslain-Lanéelle also wants the FAO to play a major role as the leading global organization in the areas of food security and nutrition, based on solid and recognized technical and scientific knowledge.

    Strengthening food security, eradicating poverty, combating climate change: a type of agriculture that produces more, in a better way

    Food security and contributions to the agricultural, fisheries and forestry sectors are vital not only to feed humankind but also to provide decent jobs in rural areas, strengthen the role of women and young people, eradicate poverty, and save the planet.

    To achieve these goals, the candidate intends to strengthen investment in research and knowledge, education and training, innovation and infrastructure.

    In a context marked by climate change and the existence of numerous conflicts, the candidate is committed to ensuring that the FAO plays a central role in solutions so that everyone, regardless of where he or she lives, has access to healthy, safe and sustainably produced food. This is the prerequisite for a peaceful, more stable and fairer world.

    In-depth expertise in the areas of food and agriculture and recognized leadership

    Catherine Geslain-Lanéelle, an agricultural engineer and former director general of the Ministry of Agriculture, is a recognized leader with a proven capacity to manage complex organizations operating in a multicultural environment. She also has a high level of professional experience in the areas of food systems, rural development and food security, in France as well as in Europe.

    She has held the most senior positions in the French Ministry of Agriculture, serving successively as deputy director of the Department of International Trade (food aid and international assistance), director general, General Directorate for Food, and director general, General Directorate for Economic and Environmental Performance of Businesses.

    At the European level, after having worked at the European Commission as an expert on consumer food safety issues, she served as executive director of the European Food Safety Authority (EFSA) for more than seven years.

    Throughout her career, Catherine Geslain-Lanéelle has dedicated her strong scientific and technical expertise in agriculture, fisheries, forestry, rural development, food systems and nutrition to the design and implementation of public agricultural and food policies at the national, European and international levels.

    The Food and Agriculture Organization (FAO) is a specialized agency of the United Nations responsible for issues relating to agriculture (including livestock farming, forestry, fisheries and aquaculture) and food. It is a universal intergovernmental organization with 197 members, including the EU. The FAO is active in more than 130 countries around the world. The next director general of the FAO will be elected by member states in June 2019 for a four-year term. Nominations for the office of director-general are being accepted from December 1, 2018, to February 28, 2019.

    Press contacts:

    MIL OSI Europe News –

  • MIL-OSI Africa: Hamburg Sustainability Conference spotlights youth entrepreneurship in Africa, African Development Bank Group support for continent’s youth-led small and medium enterprises

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

    HAMBURG, Germany, October 14, 2024/APO Group/ —

    African youth entrepreneurs supported the by African Development Bank Group (www.AfDB.org) took center stage at the Hamburg Sustainability Conference on Monday.

    During a session, titled “Empowering Young Entrepreneurs in Africa,” executives of the African Development Bank and its partner the African Guarantee Fund (http://apo-opa.co/3Y78rMT), as well as young African business leaders showcased innovative approaches to bridging the financing gap for youth entrepreneurs.

    The two-day Hamburg Sustainability Conference, which drew global leaders, development institutions and young business founders across the continent, featured high-level discussions on reshaping international financial systems and creating investment environments that promote achievement of the United Nations Sustainable Development Goals.

    The session explored the impact of the Bank’s Affirmative Finance Action for Women in Africa (http://apo-opa.co/3Y3wpZI) initiative. Through AFAWA, the Bank has approved approximately $1.8 billion in lending for Africa’s women entrepreneurs; some $1 billion has already been disbursed to more than 18,000 women-led small and medium enterprises.

    Melanie Keita, CEO and co-founder of Melanin Kapital (http://apo-opa.co/48alJNA), a Nairobi-based fintech company that provides digital loans, and a beneficiary of AFAWA, spoke about the need for more accessible financing options for Africa’s youth-led startups. She questioned whether there were plans to digitise the loan process: “Can people access loans from their living room instead of having to travel a lot of time and then go with a lot of paperwork and being denied loans sometimes?”

    South Africa’s Minister in the Presidency Responsible for Planning, Monitoring, and Evaluation, Maropene Ramokgopa, told attendees that young African entrepreneurs are “drivers of change.” She urged governments to prioritise entrepreneurship policies and reduce bureaucratic barriers.

    “From financial technology, agriculture, renewable energy and creative sector to digital health solutions, young African entrepreneurs are transforming their communities,” Ramokgopa added. “They are also creating jobs and reshaping the economies as well.”

    Africa is facing a significant demographic shift: the continent is expected to be home to 1.4 billion people aged under 25 by the year 2063.

    Ahmed Attout, Director for Financial Sector Development at the African Development Bank, introduced its Youth Entrepreneurship Investment Banks (YEIB) initiative, designed to de-risk investing in youth entrepreneurs while fostering talent and entrepreneurship across Africa.

    “[The Youth Entrepreneurship Investment Banks initiative] is a one-stop shop that can give youth access to finance, employment guarantees, employment technical assistance,” Attout said, adding that the initiative is in the advanced implementation phase in Liberia and Ethiopia.

    Jules Ngankam, CEO of the African Guarantee Fund, an implementing partner of AFAWA, announced significant progress in delivering solutions for entrepreneurs. He said the Fund has issued $3 billion in guarantees, enabling commercial banks to lend $5 billion to small and medium-sized enterprises.

    The session was followed by a roundtable to stimulate networking between development institutions and African innovators. Joining Keita at the roundtable were two other beneficiaries of the Bank’s support: Chiemela Anosike, founder and CEO of Solaris GreenTech (http://apo-opa.co/48alKkC), and Ebun Feludu, CEO of Kokari Coconuts & Company (http://apo-opa.co/3A6ibiv), both Nigeria-based.

    Chiemela Anosike said the struggle for start-up success is real. “Entrepreneurship is hard. Entrepreneurship in Africa is harder…so, it’s difficult. So, we have programs like this…but then you give us another full-time job because you’re into fundraising and then it’s taking six months. You’re developing just one proposal [for financing] and it’s taking one month plus,” Anosike told roundtable participants.

    Bank Director for Human Capital, Youth and Skills Development Martha Phiri told the entrepreneurs that the Bank is integrating entrepreneurship skills into its vocational training programs, in recognition that not all graduates will find employment in existing job markets.

    Tapera Muzira, the Bank’s Lead Expert for Human Capital, Youth and Skills Development said the Bank’s Innovation and Entrepreneurship Lab (http://apo-opa.co/3YqnotZ), an online platform that connects African entrepreneurs with resources, financing, and business development services, is closing the information gap that limits youth potential to contribute to economies and communities.

    Earlier,  Norway’s Minister of International Development, Anne Beathe Tvinnereim, noted that her country is committed to supporting African youth entrepreneurship. She referenced the USAID and Norway-led Financing for Agricultural Small-and-Medium Enterprises in Africa program, a multi-donor fund designed to spur investment in Africa’s agricultural growth.

    “African youth constitute 60% of the population, which is why youth engagement and involvement is central in Norwegian foreign and development policies. Financing entrepreneurs is not enough. We need to build an entrepreneurial culture that supports solid institutional and regulatory frameworks,” Tvinnereim said.

    The Hamburg Sustainability Conference is organized annually by the United Nations Development Program, the German Federal Ministry for Economic Cooperation and Development (BMZ), the Michael Otto Foundation for Sustainability (http://apo-opa.co/48alMJg) and the City of Hamburg.

    MIL OSI Africa –

  • MIL-OSI Africa: Nigeria: African Development Bank and partners agree to fast-track implementation of Special Agro Industrial Processing Zones program

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

    ABUJA, Nigeria, October 14, 2024/APO Group/ —

    The African Development Bank Group (www.AfDB.org) has reached an agreement with participating Nigerian state governments to speed up implementation of a program designed to develop eight new agro-industrial zones in the country. The agreement emerged from a two-day meeting in Abuja, on 7 – 8 October, attended by senior government and bank officials and representatives of financing partners and the private sector.

    The Nigeria Special Agro Industrial Processing Zones (SAPZ) program, launched in 2022, aims to create new hubs that integrate the production, processing and distribution of targeted crops and livestock to achieve food security, increase incomes, improve livelihoods, and support economic diversification. By significantly reducing dependence on food imports and boosting exports, SAPZs are expected to boost the country’s foreign exchange reserves.

    To implement the first phase of the SAPZ project in seven states and the Federal Capital Territory, the program has mobilized $538m in co-financing from the African Development Bank Group, the International Fund for Agricultural Development (IFAD), the Islamic Development Bank (IsDB) and the Federal Government of Nigeria.

    Nigeria’s Minister of Finance and the Coordinating Minister of the Economy, Wale Edun who attended the meetings, said, “With inflation coming down, the reserves growing and the exchange rate stabilizing, success is being seen under the macroeconomic stabilization efforts of President Bola Tinubu. That is why the SAPZ program cannot and must not disappoint.”

    Minister of Agriculture and Food Security, Abubakar Kyari, said, “The need to align all our efforts at the federal and state levels as well as with our development partners is germane, so that the momentum we gain here translates into tangible outcomes for the target beneficiaries, particularly those in rural areas where the SAPZs will have their greatest impact.”

    According to the Director General of the African Development Bank’s Nigeria Country Department, Dr. Abdul Kamara, the meetings were aimed at strengthening collaboration among key stakeholders, including the private sector. Participants shared ideas and lessons learned, goals, and agreed on practical next steps to accelerate the implementation of Phase 1 of the program. The next phase of the programme will expand to include other state governments.

    Emphasising the urgency of overcoming delays that have dogged program implementation, the Senior Special Adviser to the Bank President on Industrialisation, Prof. Banji Oyelaran-Oyeyinka, said the rapid implementation and take-off of SAPZs provides a solution to the declining contribution of manufacturing and manufacturing exports to Nigeria’s GDP.

    The second day of the meeting featured a workshop that brought together officials from the federal and state governments, representatives of partner institutions, and private sector investors to discuss the program’s financial, procurement and operational processes, as well as an accelerated implementation plan. The federal and state governments committed to implementing transparent and competitively driven procurement processes, including the independent selection of vendors.

    The sessions, moderated by Dr. Victor Oladokun, Senior Advisor on Communications and Stakeholder Engagement to the president of the African Development Bank, also provided a platform to highlight the complementary roles of stakeholders. While governments and financing institutions are expected to play a catalytic role, the private sector will focus on investing in the construction and operation of the key components of the zones: Agro Industrial Processing Hubs (AIHs) and Agricultural Transformation Centres (ATCs).

    The first phase of the Nigeria SAPZ program is expected to unlock about $1 billion in private sector investments, benefiting an estimated 1.5 million households, including private agribusinesses, agro-processors, smallholder farmers, agripreneurs, and agrodealers, and creating a minimum of 400,000 direct jobs and 1.6 million indirect jobs, especially for women and youth.

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Landmark collaboration with largest pharmaceutical company

    Source: United Kingdom – Executive Government & Departments

    Collaboration announced at International Investment Summit, meeting the PM’s ambitions to catalyse investment in the UK, proving the UK is open for business. 

    The UK’s world leading life sciences sector will receive a £279 million boost to tackle significant health challenges, with an intent expressed by Lilly, the world’s largest pharmaceutical company, to invest in the UK, as part of a collaborative partnership with UK Government, announced at the International Investment Summit today (Monday 14 October).

    Plans to form a new collaboration through a memorandum of understanding will see the pharmaceutical giant backing the UK’s brightest and best life sciences talent with the planned launch of the first ‘Lilly Gateway Labs’ innovation accelerator in Europe. This facility will support early-stage life sciences businesses to develop transformative medicines by providing lab space, mentorship, and potential financial backing to rocket future growth in the sector.   

    Health and Social Care Secretary Wes Streeting said: 

    For all the challenges facing the health of our nation, we have two huge advantages: some of the world’s leading scientific minds, and a National Health Service with enormous potential. If we can combine the two, patients in this country can reap the rewards of the revolution in medical science unfolding before our eyes.

    This announcement helps the UK take its place as a world leader in life sciences and brings life-changing treatments closer to being a reality for NHS patients. Partnerships like this are key to building a healthier society, healthier economy, and making the NHS fit for the future.  

    Lilly’s Gateway Lab plans build on the 300,000 jobs the life sciences sector already supports nationwide. The facility will be the first announced anywhere in Europe, cementing the UK as a world leader in healthcare.  

    Science and Technology Secretary Peter Kyle said:

    The UK’s life sciences sector is at the forefront of pioneering and life-saving research. 

    This ground-breaking collaboration is proof that this sector is held in high esteem internationally and is driving investment into the UK. 

    Investments like this drive forward work that will boost our health and ultimately save lives.

    But they also fire up our economy, creating the jobs, opportunity and growth we need to invest further in health and to push up living standards.

    David A. Ricks, Chair and CEO of Eli Lilly & Company said:

    We welcome this opportunity to partner with the UK Government on tackling and preventing disease, and accelerating innovation to advance care delivery models. Today’s announcement is an important milestone, and we are pleased to reinforce Lilly’s commitment to improving health for people living with obesity and its serious consequences.

    Obesity is the second biggest preventable cause of cancer and a major contributor to ill-health that prevents people from participating fully in work. This collaboration will bring together treatments and technologies developed by the life sciences sector and the health system seeking to demonstrate improved long-term health outcomes for those living with obesity. 

    The collaboration with Lilly aims to set the stage for Government to work with industry to trial innovative approaches to treating obesity as part of a rounded package of care. 

    With obesity costing the UK health service more than £11 billion each year, action to tackle the condition is urgently needed. Backing the UK life sciences sector to understand obesity further, alongside introducing measures to prevent obesity in the first place such as restrictions on junk food advertising, will help ease pressure on the NHS.

    NHS chief executive Amanda Pritchard said: 

    Obesity is one of the biggest public health issues we face, and we know weight loss drugs will be a game-changer, alongside earlier prevention strategies, in supporting many more people to lose weight and reduce their risk of killer conditions like diabetes, heart attack and stroke.

    Today’s momentous agreement shows the NHS is uniquely well-placed globally, not just to bring effective new treatments to those who would benefit most, but also to support science, research, jobs and economic growth across the country. We now have an important chance to gain a better understanding of the benefits of weight management interventions for patients, and how best to deliver them over the next few years.

    Today’s collaboration is a demonstration of the £108 billion life sciences sector’s value to the UK economy, in both improving public health and keeping the UK at the forefront of scientific progress.  

    Mayor of Greater Manchester, Andy Burnham, said:

    Greater Manchester is world-renowned as a hub for innovation in health and life sciences. The results of the trial announced today could have a far-reaching impact on how we treat obesity globally, and our city-region is ready to make a significant contribution through our outstanding health data assets, R&D expertise, and the strong partnerships between industry, universities and public sector organisations.

    The International Investment Summit will provide an opportunity to showcase our local strengths in health innovation to an audience of global business leaders and investors. This partnership could be the first of many and give Greater Manchester residents access to other innovative treatments.

    Scotland’s Cabinet Secretary for Health and Social Care, Neil Gray, said:

    I welcome this long term strategic partnership with the world’s largest pharmaceutical company.

    Scotland has a vibrant life science sector, world class universities and an NHS with a long track record of working with both.

    This initiative supports our use of innovation to transform health and social care by building new partnerships between government, our NHS, academic institutions, and industry.

    Mike Nesbitt, Health Minister for Northern Ireland, said:

    It is only by focusing more on prevention and population health, tackling health inequalities and harnessing the power of innovation through the UK’s world-leading life sciences sector that we will be able to deliver better outcomes for patients.

    Driving economic growth to improve the lives of hardworking British people is this Government’s number one mission. The life sciences sector – which drove £800 million in foreign direct investment into the UK in 2023 – sits at the heart of these plans.

    ENDS 

    Notes for editors 

    About the Obesity Healthcare Goals Programme: 

    • The Obesity Healthcare Goals Programme, formerly known as the Obesity Mission, was announced in November 2022, and is being delivered by the Office for Life Sciences (OLS) alongside the Dementia, Mental Health, Cancer and Addiction Healthcare Goals.

    Updates to this page

    Published 14 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Economics: RBI imposes monetary penalty on Arunachal Pradesh Rural Bank

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated October 03, 2024, imposed a monetary penalty of ₹14.00 lakh (Rupees Fourteen Lakh only) on Arunachal Pradesh Rural Bank (the bank), for non-compliance with certain directions issued by RBI on ‘Strengthening of Prudential Norms- Provisioning Asset Classification and Exposure Limit’ and ‘Know Your Customer (KYC)‘. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by 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 RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions.

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

    The bank had:

    1. failed to classify certain loan accounts as non-performing assets (NPA) resulting into divergence in asset classification of loan accounts; and

    2. allotted multiple Unique Customer Identification Code (UCIC) to its individual customers.

    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: 2024-2025/1288

    MIL OSI Economics –

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

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated October 07, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Urban Co-operative Bank Limited, Dharangaon, Maharashtra (the bank), for non-compliance with the specific directions issued by RBI under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of 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 incurred capital expenditure without prior approval of RBI in violation of the 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: 2024-2025/1287

    MIL OSI Economics –

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

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated October 03, 2024, imposed a monetary penalty of ₹2.75 lakh (Rupees Two Lakh Seventy Five Thousand only) on Jilla Sahakari Kendriya Bank Maryadit, Bhind, Madhya Pradesh (the bank) for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by RBI on ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the BR Act and section 25 of the Credit Information Companies (Regulation) Act, 2005.

    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 / RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said provisions/directions.

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

    The bank had:

    1. failed to transfer eligible unclaimed deposit amounts to the Depositor Education and Awareness Fund within the prescribed period; and

    2. failed to submit credit information of its borrowers to any of the four CICs.

    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: 2024-2025/1286

    MIL OSI Economics –

  • MIL-OSI China: China vows to beef up support for SMEs, unicorn companies

    Source: People’s Republic of China – State Council News

    BEIJING, Oct. 14 — China will increase support for innovative small and medium-sized enterprises (SMEs) and unicorn companies to foster new quality productive forces and help enterprises expand markets and unleash vitality, the Ministry of Industry and Information Technology (MIIT) said Monday.

    So far, China has cultivated about 141,000 innovative SMEs that use specialized, sophisticated technologies to produce novel or unique products, including 14,600 “little giant” firms, Wang Jiangping, vice minister of industry and information technology told a press conference.

    These companies have played an important role in promoting new industrialization and developing new quality productive forces, Wang said, adding that the MIIT will work with relevant departments to roll out mechanisms to promote the development of such SMEs and boost the high-quality growth of the enterprises.

    Wang noted that further efforts will be made to support the digital transformation and financing of the companies. For “little giant” firms — which refer to the novel elites of SMEs that are engaged in manufacturing, specialize in a niche market and boast cutting-edge technologies — China will use the central government budget to support them in achieving new technological breakthroughs, developing new products and strengthening the industrial chain to boost their scientific and technological innovation.

    China has seen a growing number of unicorn companies in recent years, with over half of last year’s new unicorns emerging in rapidly developing technology sectors like new energy, artificial intelligence and semiconductors, according to the ministry.

    The MIIT has vowed to support the listing, mergers and acquisitions, and restructuring of unicorn firms and promote the growth of such companies in future industries such as the brain-computer interface and 6G sectors. It has also vowed support for such firms to integrate into the global innovation network and enhance innovation cooperation.

    In the fourth quarter of this year, China will launch specific measures to promote consumption and domestic demand in order to help enterprises expand the market and unleash vitality, the vice minister said.

    It will promote investment in the projects of technical transformation and upgrading as well as equipment renewal, and accelerate the issuance of re-loans worth 150 billion yuan (about 21.21 billion U.S. dollars) to support such projects.

    To expand consumption, China will promote electric bicycle trade-ins and increase promotion efforts for new energy vehicles, Wang said, adding that it will also help develop sectors such as the low-altitude economy and smart manufacturing to create new engines for economic growth.

    MIL OSI China News –

  • MIL-OSI Africa: Multinational: African Development Bank Group approves $34.8 million in grants to build climate resilience in Malawi and Zimbabwe

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

    ABIDJAN, Ivory Coast, October 14, 2024/APO Group/ —

    The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved grants of $34,796,402.40 to enhance resilience and adaptation to climate disaster risks for vulnerable communities in Malawi and Zimbabwe. 

    Under the Bank Group’s Africa Disaster Risk Financing (ADRiFi) initiative, the Mitigating Fragility through the Africa Disaster Risk Financing Programme in Southern Africa Project will bolster institutional capacity for climate risk preparedness and management; increase financial protection against climate disaster risks through sovereign climate disaster risk transfer; and promote the adoption of index-based crop insurance to mitigate against drought and other production risks at the micro-level. 

    Malawi and Zimbabwe face significant climate hazards, such as droughts, tropical cyclones, and flooding, but lack adequate mechanisms for climate risk management and adaptation. Both countries are particularly vulnerable to such climate shocks as drought, flooding and tropical cyclones, which contribute to their fragility. Strengthening disaster risk management, improving early warning systems, and enhancing institutional arrangements are crucial for effective preparedness and resilience in these countries. 

    Under the project, insurance payouts will provide timely and adequate financial protection to mitigate losses incurred from climate-related disasters, safeguarding households, and businesses from falling into poverty or bankruptcy. Climate risk insurance is expected to lead to behavioural changes among beneficiaries, such as increased investment in climate-resilient livelihoods or savings for future insurance premiums. This project will build on the successes of the ADRiFi program and the valuable contributions from our partners, which have significantly enhanced the financial resilience of both Malawi and Zimbabwe. Notably, during the El Niño-induced drought season of 2024/2025, African Risk Capacity, the Bank’s partner on ADRiFi, disbursed over $45 million to support farmers affected by the drought. This funding has provided crucial food assistance and recovery interventions, helping communities to rebuild and thrive in the face of adversity.  

    The project is aligned to the Bank’s High 5 Priorities, especially Feed Africa and Improve the Quality of Life of Africans. It also aligns with the Bank’s 10-year strategy (2024-2033) and will contribute to the Bank’s Country Strategy for Malawi which focusses on supporting economic diversification through investments in agriculture infrastructure and value chains. 

    MIL OSI Africa –

  • MIL-OSI Video: UK Will the government continue the £2 bus fare cap scheme? | House of Lords

    Source: United Kingdom UK House of Lords (video statements)

    The national £2 bus fare cap was in the spotlight this week as members raised concerns ahead of its scheduled end on 31 December 2024. Topics raised included the need for better co-ordination between buses and railways, and reliable transport for young people to access jobs and education.

    Watch to see how the government responded.

    See more Lords questions on our YouTube channel.

    Read a transcript of this Lords question https://hansard.parliament.uk/lords/2024-10-07/debates/30A7006C-CDBA-4260-A26C-664E300738C1/BusFaresNationalCap

    Catch-up on House of Lords business:

    Watch live events: https://parliamentlive.tv/Lords
    Read the latest news: https://www.parliament.uk/lords/

    Stay up to date with the House of Lords on social media:

    • Twitter: https://twitter.com/UKHouseofLords
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    #HouseOfLords #UKParliament

    https://www.youtube.com/watch?v=2hjPED2SKMo

    MIL OSI Video –

  • MIL-OSI Economics: The Samsung Art Store to Feature Exclusive Highlights from The Museum of Modern Art’s Collection

    Source: Samsung

    Twenty-seven well-known artworks from MoMA’s collection, including those by artists Frida Kahlo, Henri Matisse and Georgia O’Keeffe, are available on the Samsung Art Store today, exclusively to The Frame by Samsung, a best-selling Lifestyle TV that doubles as a piece of art. When it’s on, use The Frame to watch your favorite movies and shows in brilliant 4K resolution. When it’s off, explore the Samsung Art Store to transform any space in your home with a vast catalog of artworks that are handpicked and curated from hundreds of institutions, artists and collectors around the world.
    MoMA was founded in 1929 by three progressive women who championed modern and contemporary art and wanted to establish a museum that could be a catalyst for experimentation, learning and creativity. In collaboration with MoMA, the Samsung Art Store includes highlights from MoMA’s collection that were selected by Daria Greene, Global Curator of the Samsung Art Store, to honor the institution’s history and vision, and includes Frida Kahlo’s “Fulang Chang and I” (1937), which is the first artwork by the legendary Mexican artist to arrive on the platform.
    “MoMA is a place that fuels creativity, ignites minds and provides inspiration. Through our relationship with Samsung, we are broadening access to MoMA’s collection in a truly innovative way to millions of people,” said Robin Sayetta, Head of Business Development at The Museum of Modern Art. “We were purposeful in building this new digital collection and hope to enrich the lives of art enthusiasts with culture and history at an extraordinary scale.”
    A view of the fifth-floor collection galleries. Shown: Claude Monet. Water Lilies. 1914–26. Oil on canvas, three panels. Mrs. Simon Guggenheim Fund. © 2024 The Museum of Modern Art, New York. Photo: Noah Kalina
    Expanding Access to Art Through Innovation
    Included in the more than two dozen artworks from MoMA are celebrated works such as Vincent van Gogh’s “The Starry Night” (1889), Henri Rousseau’s “The Dream” (1910) and Georgia O’Keeffe’s “Evening Star III” (1917). This selection represents a diverse range of styles and points in time, offering something for every art lover and Samsung Art Store subscriber.
    A view of the fifth-floor collection galleries. Shown: Vincent van Gogh. The Starry Night. 1889. Oil on canvas. Acquired through the Lillie P. Bliss Bequest. © 2024 The Museum of Modern Art, New York. Photo: Noah Kalina
    “At Samsung, we strive to redefine the home entertainment experience through continual innovation. Our collaboration with MoMA allows us to bring culturally significant works into millions of homes, allowing people to engage with renowned art in a truly remarkable way,” said Sang Kim, EVP and General Manager of the North America Service Business at Samsung Electronics. “This endeavor exemplifies Samsung’s mission to use technology to deliver exceptional experiences into the everyday lives of consumers.”
    “For nearly 100 years, MoMA has been instrumental in expanding the reach and impact of Modern and Contemporary art, cementing its position as one of the most dynamic and diverse institutions globally. Through this collaboration, we are able to share works by incredible artists, including 20th century female trailblazers, on the Samsung Art Store,” adds Daria Greene, Global Curator of Samsung Art Store.
    Hannah Höch’s Untitled (Dada) (detail) (1922) shown on The Frame by Samsung. Photo: Samsung
    The Samsung Art Store is available only on The Frame, which has been refreshed in 2024 to deliver an even more complete artistic and aesthetic experience. That includes ArtfulColor validation from Pantone1, the industry leading color experts. As the world’s first and only art TV to achieve this validation, The Frame delivers natural and realistic visuals that wouldn’t look out of place in a gallery. It hangs just like a picture flush against the wall and is available in class sizes ranging from 32 to 85 inches. The bezels2 can also be swapped out with various colors and designs, giving you more ways than ever to customize The Frame for your unique style and décor.
    The Frame also delivers value-add features that you can only find from Samsung – the #1 global TV brand for 18 years and counting.3 Samsung AI technology makes everything you watch look clearer and crisper, while you enjoy access to 2,700+ free channels, including 400+ Samsung TV Plus4 premium channels. You can also use your TV as your smart home hub and ensure your personal data is protected by Samsung Knox security.

    The Frame is available for purchase at MoMA Design Store at store.moma.org, Samsung.com and other select retailers.
    The Introduction of Highlights from MoMA’s Collection follows the Samsung Art Store’s relationships with world-class museums including The Metropolitan Museum of Art and Musée d’Orsay, and the release of several collections this year featuring René Magritte, Jean-Michel Basquiat and over 40 Marimekko artworks. Samsung remains committed to being the premier destination for experiencing a wide breadth of high-quality digital art.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: New local fibre network launched More than 50 representatives from local technology businesses and organisations attended the launch of the Lancaster district’s new Local Full Fibre Network to find out more about its benefits and how it will help to turbocharge the local economy.

    Source: City of Lancaster

    More than 50 representatives from local technology businesses and organisations attended the launch of the Lancaster district’s new Local Full Fibre Network to find out more about its benefits and how it will help to turbocharge the local economy.

    Councillor Tim Hamilton-Cox presenting at the launch of the Local Full Fibre Network

    Led by Lancaster City Council and Cooperative Network Infrastructure (CNI), the project is seeing the installation of a new optical fibre network that will provide a fibre spine of gigabit broadband capability to connect Lancaster, Morecambe and Heysham.

    The spine will significantly cut the costs of establishing a connection to fibre telecommunication for the district’s thriving digital businesses, opening up opportunities and promoting the development of the local digital ecosystem to attract investment.

    There are also long-term benefits for the council, including significant financial savings and the ability to transform its services though innovation, along with ‘future-proofing’ connectivity to its sites and assets.

    The council and CNI have worked with local companies such as Caton Road-based TNP and rural broadband pioneer B4RN to develop and install the network, many of whom attended a special launch event on Thursday (October 10).

    Councillor Tim Hamilton-Cox, cabinet member with responsibility for finance and resources, said: “For any business to be able to compete in this day and age, access to fast fibre broadband is a must and I am delighted that the council has been able to work with CNI and local suppliers to develop this new infrastructure.

    “Other public bodies will also be able to benefit and satisfy the ever-increasing demand for bandwidth in the provision of public services, including the NHS, police and schools. The launch heard from the NHS in Greater Manchester on how a fibre network had saved money and improved data security and accessibility.

    “I also want to express my gratitude to Blackpool Borough Council for sharing the very considerable experience and expertise of Tony Doyle, their ICT manager. He has already achieved a similar roll-out of fibre infrastructure across Blackpool and Tony has been integral to design and delivery of the fibre spine across Lancaster district.”

    Tony Doyle, who is also chair of CNI, added: “It’s been a privilege to work with Lancaster’s forward-thinking team, committed to being at the forefront of the digital revolution and addressing sustainability challenges.

    “Together, the new fibre network and soon-to-come sustainable data centre provide a strong foundation for future growth, helping to transform public services and businesses. I’m excited to see how these assets will drive innovation in the local and regional economy.”

    The next steps in the project are to provide a state-of-the-art hyper-green data centre facility centre at Salt Ayre Leisure Centre, which will further enhance the network and provide the infrastructure needed to realise the benefits of new technologies for the council, businesses and the wider public sector.

    Last updated: 14 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Global: No country still uses an electoral college − except the US

    Source: The Conversation – USA – By Joshua Holzer, Associate Professor of Political Science, Westminster College

    Every four years, Congress gathers to count electoral votes. AP Photo/J. Scott Applewhite

    The United States is the only democracy in the world where a presidential candidate can get the most popular votes and still lose the election. Thanks to the Electoral College, that has happened five times in the country’s history. The most recent examples are from 2000, when Al Gore won the popular vote but George W. Bush won the Electoral College after a U.S. Supreme Court ruling, and 2016, when Hillary Clinton got more votes nationwide than Donald Trump but lost in the Electoral College.

    The Founding Fathers did not invent the idea of an electoral college. Rather, they borrowed the concept from Europe, where it had been used to pick emperors for hundreds of years.

    As a scholar of presidential democracies around the world, I have studied how countries have used electoral colleges. None have been satisfied with the results. And except for the U.S., all have found other ways to choose their leaders.

    The Holy Roman Empire had seven electors: Three were members of the Catholic Church and four were significant members of the nobility. This image depicts, from left, the archbishop of Cologne, the archbishop of Mainz, the archbishop of Trier, the count palatine of the Rhine, the duke of Saxony, the margrave of Brandenburg and the king of Bohemia.
    Codex Balduini Trevirorum, c. 1340, Landeshauptarchiv Koblenz via Wikimedia Commons

    The origins of the US Electoral College

    The Holy Roman Empire was a loose confederation of territories that existed in central Europe from 962 to 1806. The emperor was not chosen by heredity, like most other monarchies. Instead, emperors were chosen by electors, who represented both secular and religious interests.

    As of 1356, there were seven electors: Four were hereditary nobles and three were chosen by the Catholic Church. By 1803, the total number of electors had increased to 10. Three years later, the empire fell.

    When the Founding Fathers were drafting the U.S. Constitution in 1787, the initial draft proposal called for the “National Executive,” which we now call the president, to be elected by the “National Legislature,” which we now call Congress. However, Virginia delegate George Mason viewed “making the Executive the mere creature of the Legislature as a violation of the fundamental principle of good Government,” and so the idea was rejected.

    Pennsylvania delegate James Wilson proposed that the president be elected by popular vote. However, many other delegates were adamant that there be an indirect way of electing the president to provide a buffer against what Thomas Jefferson called “well-meaning, but uninformed people.” Mason, for instance, suggested that allowing voters to pick the president would be akin to “refer(ring) a trial of colours to a blind man.”

    For 21 days, the founders debated how to elect the president, and they held more than 30 separate votes on the topic – more than for any other issue they discussed. Eventually, the complicated solution that they agreed to was an early version of the electoral college system that exists today, a method where neither Congress nor the people directly elect the president. Instead, each state gets a number of electoral votes corresponding to the number of members of the U.S. House and Senate it is apportioned. When the states’ electoral votes are tallied, the candidate with the majority wins.

    James Madison, who was not fond of the Holy Roman Empire’s use of an electoral college, later recalled that the final decision on how to elect a U.S. president “was produced by fatigue and impatience.”

    After just two elections, in 1796 and 1800, problems with this system had become obvious. Chief among them was that electoral votes were cast only for president. The person who got the most electoral votes became president, and the person who came in second place – usually their leading opponent – became vice president. The current process of electing the president and vice president on a single ticket but with separate electoral votes was adopted in 1804 with the passage of the 12th Amendment.

    Some other questions about how the Electoral College system should work were clarified by federal laws through the years, including in 1887 and 1948.

    After the 2020 presidential election exposed additional flaws with the system, Congress further tweaked the process by passing legislation that sought to clarify how electoral votes are counted.

    James Madison disliked the idea of an electoral college.
    Chester Harding, via National Portrait Gallery

    Other electoral colleges

    After the the U.S. Constitution went into effect, the idea of using an electoral college to indirectly elect a president spread to other republics.

    For example, in the Americas, Colombia adopted an electoral college in 1821. Chile adopted one in 1828. Argentina adopted one in 1853.

    In Europe, Finland adopted an electoral college to elect its president in 1925, and France adopted an electoral college in 1958.

    Over time, however, these countries changed their minds. All of them abandoned their electoral colleges and switched to directly electing their presidents by votes of the people. Colombia did so in 1910, Chile in 1925, France in 1965, Finland in 1994, and Argentina in 1995.

    The U.S. is the only democratic presidential system left that still uses an electoral college.

    A ‘popular’ alternative?

    There is an effort underway in the U.S. to replace the Electoral College. It may not even require amending the Constitution.

    The National Popular Vote Interstate Compact, currently agreed to by 17 U.S. states, including small states such as Delaware and big ones such as California, as well as the District of Columbia, is an agreement to award all of their electoral votes to whichever presidential candidate gets the most votes nationwide. It would take effect once enough states sign on that they would represent the 270-vote majority of electoral votes. The current list reaches 209 electoral votes.

    A key problem with the interstate compact is that in races with more than two candidates, it could lead to situations where the winner of the election did not get a majority of the popular vote, but rather more than half of all voters chose someone else.

    When Argentina, Chile, Colombia, Finland and France got rid of their electoral colleges, they did not replace them with a direct popular vote in which the person with the most votes wins. Instead, they all adopted a version of runoff voting. In those systems, winners are declared only when they receive support from more than half of those who cast ballots.

    Notably, neither the U.S. Electoral College nor the interstate compact that seeks to replace it are systems that ensure that presidents are supported by a majority of voters.

    Editor’s note: This story includes material from a story published on May 20, 2020.

    Joshua Holzer does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. No country still uses an electoral college − except the US – https://theconversation.com/no-country-still-uses-an-electoral-college-except-the-us-240281

    MIL OSI – Global Reports –

  • MIL-OSI Global: What is a communist, and what do communists believe?

    Source: The Conversation – USA – By Aminda Smith, Associate Professor of History, Michigan State University

    Seeking social change often requires collective action. champc/iStock / Getty Images Plus

    Curious Kids is a series for children of all ages. If you have a question you’d like an expert to answer, send it to CuriousKidsUS@theconversation.com.

    What is a communist? – Artie, age 10, Astoria, New York

    Simply put, a communist is someone who supports communism. I study the history of communism, which is a political and economic view.

    Communism has long been controversial, and in the U.S. today, reputable sources disagree about it. Some experts argue that communist views are well supported by historical evidence about the way societies have developed over time. Others suggest that history has shown communism not to work.

    Many of those appraisals are based on examples of people who tried to establish communism. Communists have launched revolutions in many places including Russia and China. In five countries – China, North Korea, Laos, Cuba and Vietnam – communist parties control the current governments. The economic and political systems in those countries are not fully communist, but some might be working to transition from capitalism to communism.

    In part because the U.S. has difficult relationships with these countries, many Americans have negative views of communists and communism. To evaluate those countries and to decide your own opinions about communism in general, it is important to first be clear about what the principles of communism are.

    Communists believe that people should share wealth so that no one is too poor, no one is too rich, and everyone has enough to survive and have a good life.

    A communist might be a member of a Communist party, which is a political party, or a member of a group of people who want to play a role in government.

    The opening of the 2014 convention of the Communist Party of the United States of America.

    In communism, people work together to produce and distribute the things they need to live, such as food, clothing and entertainment. That does not mean that everything is shared at all times.

    In a communist society, individuals might still live in their own homes and have their own food, clothing and personal items such as televisions and cellphones. However, the places where these items were produced, such as factories and farms, would be owned by everyone.

    Similarly, a person might still create artistic products such as works of literature or craftsmanship on their own. The goal would not be to make money, though, but instead to share for everyone to enjoy.

    Communists support some form of collective ownership. Ownership by everyone would ensure that all members of society have equal rights to the products from the factories and farms because they would all be part owners of the enterprises.

    In such a society, everyone would also have equal political rights and would participate in governance together. Theoretically, communism should entail some form of democracy.

    What is Marxism?

    German philosopher Karl Marx.
    John Jabez Edwin Mayal via Wikimedia Commons

    Throughout history, there have been many different views on what communism is, how it should be organized and how it might be achieved. The most famous theories about communism are probably the ones that were developed by a German philosopher named Karl Marx. His ideas are often called Marxism.

    Marx studied history and observed that the way people produced goods and services was closely related to who held power. For example, in farming societies, those who owned the land had more power than those who did not.

    Marx also noticed that people with less power had often risen up, usually violently, to overthrow the powerful people. He called this concept class struggle. He believed this process was how societies developed from one system of government and economy to another. He claimed that class struggle led societies through a progression toward greater efficiency in the production of goods and services, higher levels of technology and wider distribution of social and political power.

    When Marx was alive in the 1800s, an economic and political system called capitalism had developed in many countries. In capitalist societies, the economy centered on factories. Factory owners had significant political and economic influence.

    Marx observed that in countries such as Germany, England and the United States, factory owners hired laborers who worked long hours producing goods such as shirts or tables. While the factory owners sold these products at high prices, they paid the workers very little. As a result, the factory owners became richer, while many workers struggled to afford the goods they produced or even to provide food for their families.

    Marx believed that this inequality would eventually lead to a worker uprising. During their revolution, Marx predicted, the workers would seize control of the factories, begin running them more fairly, and this would lead to a new political system, known as socialism.

    Where does socialism fit in?

    A campaign poster from 1976, spotlighting the candidates from the Communist Party of the United States of America.
    Library of Congress

    Of course, if the workers staged a revolution, the factory owners would fight back. Marx thought that, immediately after the revolution, the workers would first need to create a strong government to prevent the owners from reestablishing capitalism. During that phase, which Marx called socialism, the workers would run the government while they continued moving away from capitalism and trying to create a more equal society.

    Marx thought people would eventually see that socialism was much better than capitalism because socialism would end exploitation while still allowing a society to continue moving toward better economic and political practices, but without inequality. Once that happened, a government would no longer be necessary.

    The society would become communist. There would still be governance, but not a government that was separated from the people. Rather, in a communist society, the people would govern together, and everyone would do some of the work and receive what they needed.

    There are Communist parties in many places, and many are currently working to move their countries toward communism. At this time, no country has yet made the transition to full communism, but many people still hope that transition will happen somewhere, sometime. Those people are communists. Communists are optimistic that humans can one day create a more fair and equal society.

    Hello, curious kids! Do you have a question you’d like an expert to answer? Ask an adult to send your question to CuriousKidsUS@theconversation.com. Please tell us your name, age and the city where you live.

    And since curiosity has no age limit – adults, let us know what you’re wondering, too. We won’t be able to answer every question, but we will do our best.

    Aminda Smith does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. What is a communist, and what do communists believe? – https://theconversation.com/what-is-a-communist-and-what-do-communists-believe-234255

    MIL OSI – Global Reports –