Category: Business

  • MIL-OSI: Terecircuits Unveils New Bonding Material for Next-Generation Advanced Packaging

    Source: GlobeNewswire (MIL-OSI)

    MOUNTAIN VIEW, Calif., Oct. 08, 2024 (GLOBE NEWSWIRE) — Terecircuits Corporation, a venture-backed startup in advanced materials for the semiconductor industry, today introduced Terefilm®, a patented material designed for temporary bonding and debonding applications in advanced packaging.

    According to Boston Consulting Group1, “The next generation of industry-leading organizations will be those that realize value creation is migrating towards companies that can design and integrate complex, system-level chip solutions using concepts like advanced packaging.” As components become smaller and more complex, the need for advanced temporary bonding materials, like Terefilm®, becomes paramount to enable emerging applications, including thin wafer handling and the transfer of fragile components.

    Terefilm® meets these requirements, offering unparalleled advantages including rapid release, precise patterning, and clean decomposition without solvents. The material can be used in processing up to 230ºC, giving customers a wide process window for bond-debond with clean decomposition.

    “Our focus with Terefilm® is squarely on innovating a novel material that will enable faster and more accurate semiconductor advanced packaging and related manufacturing processes,” said Wayne Rickard, CEO of Terecircuits. “Its benefits for bonding and debonding in semiconductor advanced packaging are compelling, offering ultra-clean, ultra-fast and residue-free release that eliminates traditional cleaning requirements and accelerates production. At the same time, its ability to enable selective material removal at nanoscale positions it for use in such diverse applications as enabling the parallel transfer of micro-LEDs and a photoresist for direct-write lithography. This flexibility makes Terefilm® a valuable solution for the challenges faced in advanced packaging today as well as emerging ones across a wide range of electronics manufacturing requirements.”

    The properties of Terefilm® make it highly effective for several critical applications:

    • Clean Decomposition: Unlike conventional materials, Terefilm® undergoes a remarkably clean decomposition process when activated, leaving no residue. This ensures ultra-clean surfaces, which are essential for successful hybrid bonding and other high-precision applications.
    • Rapid Release: Traditional heat and UV-sensitive films can take several minutes to release. Terefilm®, however, releases in microseconds. This near-instantaneous decomposition significantly enhances manufacturing efficiency.
    • Precise Patterning: Similar to lithographic photoresists, the material can be patterned to enable selection of specific regions. This allows for the targeted release of individual chips or subsets of chips, replacing the traditional pick-and-place process. This capability enables the parallel transfer of multiple components, dramatically increasing production speed and precision.

    To learn more about Terefilm® and its wide range of applications, please visit https://terecircuits.com/products/. To get more product information, contact Michele Fromel at mfromel@terecircuits.com.

    About Terecircuits Corporation
    Terecircuits Corporation is a venture-backed startup offering a truly groundbreaking core technology that will enable products requiring micron-scale circuit fabrication and assembly to be built faster and with greater accuracy than is achievable with today’s best practices. “Instrumenting the world” as envisioned by Industry 4.0 and IoT will require fundamental changes to advanced manufacturing to handle the sheer scale of production at reasonable costs, and Terecircuits meets these challenges with new and inventive materials and processes. Terecircuits democratizes advanced electronics manufacturing for displays, wearables, smart vehicles, virtual reality and medical devices through processes requiring less energy and capital equipment. For more information, visit http://www.terecircuits.com.

    MEDIA CONTACT:
    Kiterocket
    Stephanie Quinn, +1 480 316 8370, squinn@kiterocket.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4516ec23-fa55-432a-9574-e2e9bb4698ee


    1 https://www.bcg.com/publications/2024/advanced-packaging-is-reshaping-the-chip-industry

    The MIL Network

  • MIL-OSI China: Beijing’s Dongcheng district invigorates historical architecture

    Source: China State Council Information Office 2

    Beijing’s Dongcheng district has intensified efforts to protect and revitalize its historical architecture in recent years, local officials said at a recent press conference.
    These efforts include restoring historical buildings along the Central Axis, improving the hutong environment, and transforming historical spaces into art and performing venues, as well as cultural destinations.
    Specifically, the district has relocated and upgraded 21 local markets. Thirteen hutongs, or traditional alleys, have been recognized as Beijing’s most beautiful streets, and 45 hutongs have been made parking-free, the highest number in the city.
    The district is now home to 37 museums, 40 theaters, and 190 bookstores, with residents able to enjoy over 5,000 performances year-round.
    As one of China’s first national demonstrative zones of cultural and financial cooperation, Dongcheng pioneered the white list mechanism for financing cultural companies and launched the country’s first online marketplace for cultural financial products, helping businesses in overcoming financing challenges.
    Its cultural industry generates an annual revenue of over 100 billion yuan (US$14.16 billion), and last year, five companies were recognized among the top 30 national cultural companies.
    Currently, Dongcheng is focusing on developing a “cultural triangle” formed by the Palace Museum, Wangfujing, and Longfu Temple, aiming to add new landmarks to boost cultural spending, the officials said.

    MIL OSI China News

  • MIL-OSI: NowCM and White & Case established for Haniel the world’s first fully digital, end-to-end automated commercial paper programme

    Source: GlobeNewswire (MIL-OSI)

    Luxembourg/Frankfurt/Duisburg, 8 October 2024 –

    NowCM, global technology leader in digital and automated bond issuance, and leading international law firm White & Case have teamed up to provide breakthrough technology and legal advice to the dated and manual commercial paper (CP) market by creating the NextGenCP for corporates and other CP issuers. Family-owned investment holding Franz Haniel & Cie. GmbH (Haniel) has led the way together with NowCM and White & Case in implementing this programme.

    As a long-term, purpose-driven investor, Haniel aims to create value for generations. Led by Dr. Axel Gros, treasurer of Haniel, and Birgit Sommer, head of CP at Haniel, creating the NextGenCP reinforces Haniel’s commitment to digital transformation, marking a significant step in modernizing the CP market.

    The new set-up includes several wide-reaching innovations in technology and law:

    • Fast set-up: NowCM has automated the setup of the NextGenCP based on White & Case’s state-of-the-art legal work. This innovation significantly reduces costs and allows for the establishment of NextGenCP in a matter of days, rather than the traditional months-long process.
    • High-volume facility: NextGenCP offers issuers the ability to conduct transactions with no volume limitations, for example Haniel aiming to reach three transactions per week. This supports high-frequency issuance, even several issuances in parallel, providing a streamlined and efficient process for managing large-scale CP programmes.
    • Arranger-less set-up: The NextGenCP setup requires no arranger bank, addressing a problem in market structure where banks are often reluctant to engage in lengthy, burdensome processes with low or no fees. Instead, NowCM Luxembourg, as a regulated entity, acts as the arranger with support from White & Case, enabling deployment without the need for an arranger bank. This allows issuers and banks to focus on their core businesses while simplifying the process.
    • Multi-dealer capability: Even though no arranger bank is needed, the NextGenCP operates in a traditional intermediated manner with dealer banks. It allows dealer banks to participate either in specific transactions or at the programme level, providing flexibility while maintaining the benefits of traditional market structures.
    • Fully automated: The NextGenCP is fully automated in its operation, allowing dealer banks to simply email their trade confirmation to NowCM. All subsequent steps, including life cycle events such as settlement and repayment, are executed without human intervention, streamlining the entire process for maximum efficiency.
    • Touchless: In the issuance process, there is no need for drafting or sending any documents. Everything is handled seamlessly through NowCM’s cloud-based platform. If the issuer wants, an additional approval step before the issuance can be implemented, adding flexibility without complicating the process.
    • Entirely digital: The CP, like all securities on NowCM’s platform, is represented by a full digital twin in a machine-readable and structured format. This digital twin contains all relevant information about the CP, its lifecycle, and other metadata, which were previously only available in unstructured formats such as PDFs and Word documents.
    • Golden source: NowCM’s structured data and document repository serves as the golden source for all data related to the CP, enabling seamless integration with other stakeholders and IT infrastructure. This ensures error-free data transmission and supports digital issuance, including under the German Electronic Securities Act, further enhancing efficiency and compliance in the issuance process.
    • AI-enabled: The process developed by NowCM incorporates the latest in AI technology, enabling fully automated, real-time handling of data.
    • STEP compliant and ECB eligible: Like traditional CP, NextGenCP is STEP compliant and, consequently, ECB eligible making it suitable for collateral. By using NextGenCP issuers not only future proof their CP issuance but also ensure that all data required under the new ECB “Single Collateral Management Rulebook for Europe” (SCoRE) is readily available in machine-readable form.
    • CP primary marketplace: NowCM operates the world’s first and only fully regulated primary marketplace. The Paris-based multilateral trading facility (MTF), comparable to a German exchange Freiverkehr or the EuroMTF in Luxembourg, offers the possibility to digitalise the only remaining manual step in the value chain. Instead of negotiating trades via phone or chat, issuers and dealers can directly negotiate and transact on the NowCM MTF simplifying the issuance of CP to the push of a button.
    • Optional – use of regulated issuance vehicle: For issuers looking to avoid all the hassle of managing the entire value chain of CP issuance, NowCM offers the use of its fully regulated issuance vehicle in Luxembourg, where NowCM takes over the entire issuance process.

    Haniel is the first issuer making use of NextGenCP and has already transacted several tens of millions in various transactions since the recent go-live using NowCM’s issuance vehicleunder the name “Haniel enkelfaehig”.

    Dr. Axel Gros, treasurer of Haniel, states: “We are very pleased with the implementation of this state-of-the-art CP programme. Leveraging NowCM’s advanced technology and White & Case outstanding legal expertise, NextGenCP offers a process flow beyond straight-through process (STP), ensuring seamless execution from issuance to settlement to repayment, thereby helping us to efficiently manage our liquidity needs”.

    Karsten Woeckener, Head of Germany of White & Case and its DCM practice group leader, adds: “As a global law-firm that is supporting the latest technology we were delighted to support this project and to help unlock the German CP market. We certainly hope that the combination of our legal expertise, Haniel invaluable insights and NowCM’s technology to create NextGenCP will attract many followers and usher a new age of funding in the money markets”.

    NowCM’s founder and CEO, Robert Koller, says: “We are delighted to have brought NextGenCP to life with our exceptional partners at White & Case and the incredible support and innovation leadership of Haniel and, not to forget, the many dealer banks involved. The simplicity of using NextGenCP is based on more than a decade of research and development, a data model of thousands of variables and business rules, a highly secure cloud platform and above all the interaction with our clients who contributed countless hours and ideas. We will see further announcements soon on bringing the funding business into the 21st century.”

    Thanks to the successful collaboration between Haniel, White & Case, and NowCM, the implementation of NextGenCP sets a new benchmark for digital innovation in the industry. As the first of its kind, the touchless NextGenCP is poised to revolutionize the issuance and management of commercial paper and money markets, paving the way for more advanced and efficient funding processes and liquidity management. NextGenCP is also available for CP issuers with an existing programme that want to convert their issuance into a fully digital experience.

    About Franz Haniel & Cie. GmbH

    Franz Haniel & Cie. GmbH is 100 percent family-owned and has been based in Duisburg since the company was founded in 1756. It manages a portfolio of independent companies with the goal to create value for generations as a leading purpose-driven investor.

    To this end, we align our portfolio strictly “enkelfähig,” that means: along clear performance and sustainability criteria. Currently, the Haniel portfolio comprises ten investments: BauWatch, BekaertDeslee, CWS Cleanrooms, CWS Fire Safety, CWS Hygiene, CWS Workwear, Emma – The Sleep Company, KMK kinderzimmer, ROVEMA and TAKKT. In addition, Haniel manages a financial stake in CECONOMY and minority stakes in high-growth start-ups.

    In 2023, the Haniel Group employed nearly 22,000 people and generated sales of EUR 4.4 billion.

    About White & Case

    White & Case is one of the leading international law firms and is present in the world’s key economic centres at 44 locations in 30 countries. In Germany, around 250 lawyers, tax advisors and notaries work in Berlin, Düsseldorf, Frankfurt am Main and Hamburg (http://www.whitecase.com).

    About NowCM

    NowCM is the leading market infrastructure and issuance provider within the primary debt capital markets. It offers an unparalleled, highly secure, cloud-native data platform for creating, negotiating, and managing debt, along with an end-to-end digital workflow platform. These tools enable all participants in the primary bond and CP markets to collaborate in real-time, fostering an open and cooperative environment. NowCM facilitate access to primary markets for inaugural and infrequent issuers through its Treasury-as-a-Service (TaaS) facility. This entity is regulated by the CSSF in Luxembourg and operates as a “funding subsidiary” using standardised yet flexible documentation and fully automated digital workflows. NowCM’s 360-degree suite of services is completed by a multi-lateral trading facility (MTF) that NowCM owns and operates. It stands as the world’s first and only regulated primary marketplace, subject to the supervision of the ACPR and AMF in France.

    Connect with:

    Franz Haniel & Cie. GmbH:
    Website: http://www.haniel.de   
    LinkedIn: http://www.linkedin.com/company/franz-haniel-&-cie–gmbh     

    White & Case:
    Website: http://www.whitecase.com  
    LinkedIn: http://www.linkedin.com/company/white-&-case  

    Media Contact:
    Nils Repke
    Senior Manager, Communications – Germany
    Phone: +49 69 29994-1310
    Email: nils.repke@whitecase.com
                                       
    NowCM:
    Website: http://www.nowcm.eu
    LinkedIn: http://www.linkedin.com/company/nowcm    
    X (former Twitter): http://www.twitter.com/NowCM_EU    

    Media Contact:
    Kristina Kuzmina,
    Chief Communications and Marketing Officer
    Phone: +351 93247 8202 (PT)
    or +44 7490 373030 (UK)
    Email: kk@nowcm.eu    

    The MIL Network

  • MIL-OSI Asia-Pac: SFST’s opening remarks at press conference on Hong Kong FinTech Week 2024 (English only)

    Source: Hong Kong Government special administrative region

    SFST’s opening remarks at press conference on Hong Kong FinTech Week 2024 (English only)
    SFST’s opening remarks at press conference on Hong Kong FinTech Week 2024 (English only)
    ****************************************************************************************

         Following are the opening remarks by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the press conference on Hong Kong FinTech Week 2024 today (October 8):  Alpha (Director-General of Investment Promotion at Invest Hong Kong, Ms Alpha Lau), distinguished guests, ladies and gentlemen,       Good afternoon and thank you for joining us today. It gives me great pleasure to unveil the official details of this year’s much-anticipated Hong Kong FinTech Week, carrying the theme “Illuminating New Pathways in Fintech”.       This year marks the ninth edition of our flagship event, standing at the vanguard of the global fintech revolution. I have had the good fortune to witness the remarkable growth and evolution of our Hong Kong FinTech Week over the years. The conference this year further encapsulates the global paradigm shift, with emerging technologies driving the spirit of change.      I have made it a tradition to announce a new policy statement and new initiatives during the FinTech Week, sharing with our global audience the Government’s vision and mission in taking forward market development together with the industry. In 2022 we announced the groundbreaking Policy Statement on Development of Virtual Assets in Hong Kong, and last year we shared the plan to develop a new integrated fund platform for our market. This year is no exception, and we are set to announce a policy statement for responsible use of artificial intelligence (AI) in our financial services sector. This will be another important announcement from us elaborating our policy stance on this topic of global importance and interest.       Hong Kong FinTech Week welcomes top technology leaders, policymakers, and investors from around the world for insightful discussions on the fintech landscape. We are set to showcase the individuals, rising stars, and innovations propelling advancements in efficiency, scalability, and sustainability worldwide. During the event, we will explore how entrepreneurs and corporations are leveraging frontier technologies like AI, tokenisation, and Web3 to craft innovative business models and capitalise on Asia’s economic ascension.       Hong Kong always shows resilience and strength during challenging times. Our city has recently been ranked third in the latest Global Financial Centres Index around the globe and first in the Asia Pacific Region. In terms of fintech, Hong Kong rose five places to ninth, putting it among the top 10 fintech hubs globally. This reflects the concerted efforts of the Government, financial regulators, and industry players to promote fintech development in Hong Kong. Over the past few months, we have introduced various initiatives to further cultivate a vibrant ecosystem for fintech innovation, including expanding the cross-boundary e-CNY pilot in Hong Kong, launching the new Generative AI Sandbox, as well as commencing phase 2 of the e-HKD Pilot Programme, just to name a few.       With its strategic location and robust financial infrastructure, Hong Kong emerges as a “super connector” and “super value-adder” for fintech. Hong Kong is primed to lead this transformative journey to uncover the pathways to opportunities. Notably, we’ve witnessed strong interest from the Mainland’s big tech companies showcasing their latest innovations, underscoring how Chinese technology is shaping global finance’s future through cross-border collaborations and cutting-edge technology integration.       The Mainland aside, Southeast Asia’s rising stars will be present to showcase their tailored solutions for the region’s unique markets, sharing success stories of fintech solutions crafted to meet the region’s distinctive market needs. These vibrant discussions will highlight Southeast Asia’s growing influence in the global fintech arena. The Middle East will also bring a wealth of strategic insights to the table, fostering innovation collaborations between Hong Kong and the region.       Hong Kong FinTech Week 2024 promises to be a melting pot of ideas, innovations, and collaborations for global communities. Attendees will have the opportunity to explore how frontiers like AI, tokenisation, blockchain, and green tech are tackling real-world challenges nowadays.       Another standout feature of the week is the Greater Bay Area day visit, an exclusive tour inviting international financial leaders, investors, and tech founders to explore the innovation ecosystems across Guangzhou, Shenzhen, and Hong Kong. This excursion will facilitate collaboration, knowledge sharing, exploration of investment prospects, and meaningful dialogues, fostering a day of productive networking.       Through various initiatives aimed at attracting and retaining strategic companies and talent, we are ready for positive results from the FinTech Week. The event this year will pave the way for connected, efficient, and sustainable global economic growth from fintech offerings. I therefore extend a very warm welcome to all of you to join us. Thank you.  

     
    Ends/Tuesday, October 8, 2024Issued at HKT 16:35

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI New Zealand: Holding careless builders accountable

    Source: New Zealand Government

    The Government is looking at strengthening requirements for building professionals, including penalties, to ensure Kiwis have confidence in their biggest asset, Building and Construction Minister Chris Penk says

    “The Government is taking decisive action to make building easier and more affordable. If we want to tackle our chronic undersupply of houses that is slowing the economy down and locking families out of home ownership, we must do things differently. 

    “Reforming the way we consent homes and removing barriers to overseas building products will strip out delays and drive down costs so we can get more homes built at a more affordable price. However, for this to succeed we must ensure that we have qualified tradespeople doing the work, standing by it and being accountable if things go wrong. 

    “The trade-off for reducing oversight for low-risk work like granny flats is that we have adequate safeguards in place to hold careless or incompetent individuals to account. 

    “The current registration and licensing regimes are not working as well as they could and while the vast majority of tradespeople are competent, highly skilled professionals, a small minority are holding the sector back.  

    “Building consent authorities have told me that the penalties in the Building Act for tradespeople who knowingly cut corners are not enough to deter that behaviour and are not proportionate to the cost of remediating defected work for the consumer who is left out of pocket. 

    “This lack of robust requirements also has an enormous flow on effect which means councils are more likely to be overly risk-averse out of fear that their ratepayers will be liable for paying the bill as the last man standing. 

    “For Kiwis to have confidence in building work we need to ensure the oversight of building professionals is fit for purpose and fair. That’s why the Government is looking at strengthening registration and licensing regimes with a focus on: 

    • Lifting the competence and accountability requirements for building professionals
    • Improving consumer protection measures in the Building Act to provide the right support for consumers
    • Ensuring regulators have the right powers to hold people to account with a focus on licensing, complaints, and disciplinary processes
    • Introducing new penalties to deter bad behaviour. The Government is currently consulting on creating a new offence in the Building Act for deliberately hiding non-compliant building work in the context of remote inspections. 

    “These changes will be critical in supporting the Government’s agenda to make it easier and more affordable to build, and is particularly important when we place more trust in qualified individuals and reduce oversight from third parties as we have done through our NZ First-National commitment to allow granny flats and other small structures up to 60sqm to be built without a building consent.  

    “Lifting the competence of building professionals will also help support the ACT-National commitment to explore allowing builders to opt out of a building consent if they have insurance as this is one of the enablers for insurance companies to have confidence in taking on building work. 

    “This is all part of the Government’s plan to rebuild the economy and go for housing growth so Kiwis can get ahead.”

    Notes to editors 

    • As part of the consultation on increasing the use of remote inspections the Government is consulting on creating a new offence to deter deceptive behaviour during a remote inspection with a penalty of $50,000 for individuals and $150,000 for businesses.
    • This work to strengthen requirements for building professionals complements work currently underway by the Government to combat phoenixing which is a particular problem in the Building Industry. 

    MIL OSI New Zealand News

  • MIL-OSI China: Culture-rich towns emerge as new tourist hotspots

    Source: China State Council Information Office 3

    Nestled at the eastern foothill of Helan Mountain in Ningxia Hui Autonomous Region, northwest China, the Dulaan Holiday Wine Stroll was bustling with tourists during the just-concluded seven-day National Day holiday.

    There is much to keep wine buffs busy, from meandering through vineyards or exploring the well-stocked cellars, to — of course — savoring a glass, or two, of the local wine. For the adventurous, cycling through the mountains offers encounters with blue sheep or red deer. Overnight guests can also stargaze under the guidance of celestial mentors, adding a touch of education to their leisure.

    “I was pleasantly surprised by this quaint ‘wine town’! It’s incredibly relaxing,” exclaimed Lu Di, a resident of Yinchuan, the regional capital. Here, she indulged in wine tasting and afternoon tea with her husband, bathed in the golden hour light of Helan Mountain, enjoyed a bike ride with her son, and even found time to feed some adorable alpacas.

    The eastern foothill of Helan Mountain, with its dry climate and abundant sunshine, is acclaimed as a “golden zone” for grape cultivation and premium wine production. A collection of diverse wineries has created a “wine corridor” at the mountain’s base, which is also home to several renowned scenic spots.

    Leveraging these advantages, the Dulaan Holiday Wine Stroll was established in December 2023, with its affiliated hotel welcoming visitors starting from this June. Combining grape cultivation, wine making, culture, arts and sightseeing, it has attracted over 50,000 tourists in just four months.

    Yang Ziyun, an employee at the affiliated hotel, said that they had curated a variety of activities to enhance the National Day holiday experience, including painting, bamboo weaving, wine therapy and mountain-side night concerts.

    Ningxia produced its first bottle of wine in 1984. Today it is China’s largest wine-producing region and is gaining prominence on the global stage.

    In recent years, culture-themed towns have flourished in China, offering a novel experience for tourists. Each is rooted in the unique local culture, offering a quick, yet profound, understanding of their own region.

    Ten kilometers away, the Seeing Helan Performance Town is also abuzz, especially at night. As its name suggests, it features performances that celebrate the culture of Helan Mountain and Ningxia. The town is awash with the festive glow of red lanterns under the eaves of traditional buildings, creating a warm, welcoming ambiance.

    Walkabout performers, dressed as historical, mythical or legendary figures from Ningxia, roaming the town or starring in awe-inspiring shows, are a highlight for many, particularly the younger generation.

    During the just-concluded holiday, the town not only boasted plays, juggling and traditional dances but also invited its tourists to sing patriotic songs, dance together, and partake in large-scale barbecues under the mountain.

    “Tourists from across the country can immerse themselves in the festive atmosphere, local Ningxia culture and the charm of night tours here,” said Pan Chunhui, marketing director of the Seeing Helan Performance Town.

    Pan added that the town alone received more than 80,000 visitors during the first six days of the holiday.

    The daily bookings for outbound and inbound travel on the platform of Ctrip, a leading Chinese online travel agency, reached a record high during the National Day holiday, the company said on Monday.

    A significant number of young people are developing a keen interest in tourism at the county level, leading to a 40 percent year-on-year increase in daily bookings for county tourism, said the report.

    MIL OSI China News

  • MIL-OSI Russia: Marat Khusnullin: Since the beginning of the year, more than 4.2 million square meters of housing have been put into operation using DOM.RF mechanisms

    MILES AXLE Translation. Region: Russian Federation –

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

    From January to September 2024, over 4.2 million square meters of housing were commissioned in 49 regions for 84.4 thousand families using DOM.RF instruments. Of this volume, over 2.06 million square meters were built using project financing from DOM.RF Bank. In addition, 1.62 million square meters were built on sites that were put into circulation and transferred to investors through auctions, as well as over 533 thousand square meters using the infrastructure bond mechanism. This was reported by Deputy Prime Minister, Chairman of the Supervisory Board of DOM.RF Marat Khusnullin.

    “Improving the housing conditions of citizens is a priority in our work. In his May decree, the President set us the task of increasing the average housing provision to 33 square meters per person by 2030. And we are systematically moving towards this goal. For the further development of housing construction, it is important to more actively engage in the involvement of unused land plots in circulation. We must also not forget about the development of social, road, and utility infrastructure, which stimulates the launch of new housing projects. DOM.RF also makes a significant contribution to this work. Thus, over nine months, with the participation of the state company, over 4.2 million square meters of housing for 84 thousand families have been commissioned,” Marat Khusnullin emphasized.

    The leading regions in housing commissioning using DOM.RF tools over three quarters were: St. Petersburg (458 thousand sq. m), Tyumen region (422.5 thousand sq. m), Moscow (356 thousand sq. m. . m), Krasnodar Territory (more than 294 thousand sq. m) and the Republic of Tatarstan (280.3 thousand sq. m).

    Over nine months, authorities in 30 constituent entities of the Russian Federation issued permits for the construction of over 1.93 million square meters of residential real estate on sites that were previously transferred by DOM.RF to developers and regions. The leaders in this indicator were: Voronezh (310.5 thousand square meters) and Tyumen (more than 244 thousand square meters) regions, as well as the Republic of Bashkortostan (237 thousand square meters).

    “The results of the three quarters of this year have consolidated the trends that have developed over several years of our active work with the regions. On the one hand, more than 40% of housing was commissioned with the participation of DOM.RF in five regions – leaders in this indicator. This indicates a great interest on their part in using the group’s instruments. On the other hand, the number of regions using DOM.RF mechanisms is constantly increasing. In addition, we see an increase in the share of housing that is being built with the involvement of project financing from DOM.RF bank and infrastructure bonds. All this testifies to the effectiveness of the measures used to develop housing construction in the country,” said Vitaly Mutko, General Director of DOM.RF.

    Over three quarters, the state-owned company brought into circulation 220 land plots with a total area of over 927 hectares for housing and other construction in 54 regions of the country.

    In addition, eight projects for the integrated development of territories on sites with a total area of about 258 hectares were approved during the specified period. These sites are located in the Amur, Irkutsk, Kemerovo and Murmansk regions, as well as the Mari El Republic. Here it will be possible to build more than 717 thousand square meters of housing with all the necessary infrastructure.

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

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

    http://government.ru/nevs/52932/

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

    MIL OSI Russia News

  • MIL-OSI: ATFX Announces Strategic Investment in Spark Systems to Enhance Institutional Offerings

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Oct. 08, 2024 (GLOBE NEWSWIRE) — ATFX is pleased to announce its investment in Spark Systems, a next generation, institutional-grade eFX trading platform based in Singapore serving clients in Asia and globally. ATFX is entering into this partnership with Spark Systems through a Series C investment, with some of Spark Systems’ investors including global banks such as Citibank and HSBC. This partnership is aimed at enhancing ATFX’s institutional services and will explore synergies between both organizations.

    The investment in Spark Systems creates opportunities to leverage ATFX Connect liquidity within the platform, this builds on ATFX group’s commitment to enhance its trading infrastructure. These initiatives have positioned ATFX as a relevant player in the industry, providing clients with cutting-edge trading solutions and improved market access.

    “Investing in Spark Systems aligns with our strategic vision to enhance our institutional offerings and drive innovation in the eFX space,” said Joe Li, Group Chairman at ATFX. “We believe that this will benefit both organisations and provide our clients with improved trading solutions, especially in the Asian region.” Joo Seng Wong, Founder & CEO of Spark Systems stated, “This collaboration with ATFX represents a significant step forward in our mission to deliver exceptional trading solutions. Together, we will empower ATFX clients with enhanced access to liquidity and offer advanced trading capabilities.”

    ATFX is looking forward to exploring this partnership further and is committed to building a mutually beneficial relationship with Spark Systems to enhance its market presence in Asia and beyond.

    About ATFX

    ATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities including the UK’s FCA, Australian ASIC, Cypriot CySEC, UAE’s SCA, Hong Kong SFC and South African FSCA. With a commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides valued trading experiences to clients worldwide.

    For further information on ATFX, readers can please visit ATFX website https://www.atfx.com.

    About ATFX Connect

    ATFX Connect is a trading name of AT Global Markets (UK) Limited (authorised and regulated by the FCA), AT Global Markets (Australia) Pty Limited (authorised and regulated by ASIC), and AT Global Financial Services (HK) Limited (authorised and regulated by the SFC). Connect is the Institutional arm of the wider ATFX Group.

    ATFX Connect offers Institutional and Professional traders an extensive range of services for both Agency PB and Margin accounts, provides bespoke aggregated liquidity in Spot FX, NDFs, indices, Commodities and Precious Metals to a wide range of institutional clients from hedge funds, Tier 1 global and regional banks, high net worth investors, asset managers, family offices and other brokers. 

    ATFX Connect’s liquidity pool is constructed from Tier 1 banks and non-bank providers that it has partnered with, trading in both sweepable and full amount forms. 

    Agency PB Clients can connect via direct FIX API, external technology solutions or via the trading platform. For margin clients, ATFX Connect provides market access via the group’s MT4/MT5 platform and provides a bridge solution for those who wish to connect via FIX API. 

    For further information on ATFX, readers can please visit ATFX website https://www.atfxconnect.com.

    About Spark Systems

    Founded in 2016, Spark Systems builds next generation high speed trading platforms. Spark Systems has developed robust eFX trading platforms and the company is uniquely designed to support both buy-side and sell-side clients. The firm has to date received investments from leading global and regional institutions including Citibank, HSBC, Philips Venture, Vickers Venture, Integra Ventures, FengHe, Jubilee CM, Farquhar Venture Capital, 5X Capital, OSK etc. Spark Systems is a grant recipient of Monetary Authority of Singapore FSTI grant. Spark Systems focus is on building state of the art trading technology and infrastructure. The company is connected with all global top 20 FX liquidity providers and eFX non-bank hedge funds as well as major primary markets/ECNs. This aims to position the company for sustainability and growth in the FX market. For further information on Spark Systems, readers can please visit the company’s website http://www.sparksystems.sg

    Contact

    ATFX
    cs.gm@atfx.com

    The MIL Network

  • MIL-OSI Banking: Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – The Shirpur Merchants’ Co-operative Bank Ltd., Shirpur, Maharashtra – Extension of Period

    Source: Reserve Bank of India

    The Reserve Bank of India had issued Directions to The Shirpur Merchants’ Co-operative Bank Ltd., Shirpur, Maharashtra, under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive No. CO.DOS.SED. No.S175/45.11.001/2024-2025 dated April 05, 2024, for a period of six months up to the close of business on October 08, 2024.

    2. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond the close of business on October 08, 2024.

    3. Accordingly, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from the close of business on October 08, 2024 to the close of business on January 08, 2025, subject to review.

    4. All other terms and conditions of the Directive under reference shall remain unchanged.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1247

    MIL OSI Global Banks

  • MIL-OSI Asia-Pac: Hong Kong FinTech Week 2024 “Illuminating New Pathways in Fintech” details released (with photos)

    Source: Hong Kong Government special administrative region

    Hong Kong FinTech Week 2024 “Illuminating New Pathways in Fintech” details released (with photos)
    Hong Kong FinTech Week 2024 “Illuminating New Pathways in Fintech” details released (with photos)
    ******************************************************************************************

         Invest Hong Kong (InvestHK) today (October 8) unveiled details of Hong Kong FinTech Week 2024 (HKFW). The ninth edition of HKFW, themed “Illuminating New Pathways in Fintech” will take place from October 28 to November 1. This flagship event stands at the forefront of the global fintech evolvement. Aligned with Hong Kong’s vision, the aim is to steer the future of financial services and beyond. The largest and most influential gathering of international leaders in finance and technology      As the city’s premier fintech gathering, HKFW is organised by the Financial Services and the Treasury Bureau and InvestHK, in collaboration with the Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC), and the Insurance Authority (IA). The event is expected to draw over 30 000 attendees from more than 100 economies.      With hundreds of distinguished speakers and numerous sponsors and exhibitors, the main conference taking place between October 28 and 29 at Hong Kong AsiaWorld-Expo promises to be a convergence of global expertise and cutting-edge fintech innovations.      HKFW draws votes of confidence from both the Mainland and international companies and markets. The event this year will feature an unprecedented number of Mainland Chinese big tech companies showcasing their latest innovations, as well as notable speakers and delegates from the Association of Southeast Asian Nations (ASEAN) and the Middle East, which solidifies Hong Kong’s multifaceted business connections and landscape.      The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “With its strategic location and robust financial infrastructure, Hong Kong emerges as a ‘super connector’ and ‘super value-adder’ for fintech. Hong Kong is primed to lead the transformative journey to uncover the pathways to opportunities. Our city is ranked third in the latest Global Financial Centres Index and first in the Asia Pacific Region. In terms of fintech, Hong Kong rose five places to ninth, putting it among the top 10 fintech hubs globally. This reflects the concerted efforts of the Government, financial regulators, and industry players to promote fintech development in Hong Kong.”      Mr Hui added that through various initiatives aimed at attracting and retaining strategic companies and talent, Hong Kong is ready for positive results from the FinTech Week, and the event this year will pave the way for connected, efficient, and sustainable global economic growth from fintech offerings. Exploring tomorrow’s solution today      With Hong Kong now ranking among the top three global financial centres and top 10 fintech centres globally, HKFW 2024 is poised to be a vibrant hub of ideas, innovations, and global collaborations, reinforcing Hong Kong’s institutional advantages and abilities for breakthroughs in innovative financial services and leading market innovation.      This year, HKFW places a significant emphasis on cutting-edge technologies such as Artificial Intelligence (AI). Recent surveys reveal that 38 per cent of finance executives in Hong Kong have initiated the incorporation of generative AI, marking the highest rate among all surveyed markets and notably surpassing the global average of 26 per cent.      The main conference will feature eight themed forums on the latest technologies and cross-industry connections. These forums include the Global Forum, AI & Advanced Tech Forum, Blockchain & Digital Assets Forum, Payments & Other FinTech Forum, InsurTech Forum, Green FinTech & Impact Forum, WealthTech & InvestTech Forum, and Hong Kong Connect Forum, offering participants a comprehensive view of the ever-evolving fintech landscape. The stages and zones will also be designed in the Chinese wisdom of “wuxing” and “yinyang”.      A series of engaging community events will take place throughout the week, running from October 28 to November 1 in Hong Kong and Shenzhen. These events will include a tour of the Greater Bay Area, satellite and networking events, lifestyle activities and workshops and the inaugural Web3x3 basketball game.      The Director-General of Investment Promotion of InvestHK, Ms Alpha Lau, said, “As a leading international financial centre, fintech has always been an important pillar of the Hong Kong economy. Last year, Hong Kong climbed to the top 10 in the United Nations’ Global Frontier Technologies Readiness Index. This readiness to embrace technologies like blockchain and AI is essential to ensuring the long-term competitiveness of our financial services industry. We will continue to promote Hong Kong’s strengths in financial services, innovation and technology, and family offices. And our strategic focus will be on enhancing our promotion drive in key markets, including ASEAN and the Middle East. Hong Kong FinTech Week will be an important platform to turn these foci areas into action. It is an engine to drive businesses to Hong Kong, as well as create bridges for our city’s fintech ecosystem to capture global opportunities.”      This year, semi-finalists of the Global Fast Track will be invited to Hong Kong to pitch in person on stage during HKFW, with the grand finale taking place on the second day. This is an unparalleled opportunity for qualified fintech innovators to showcase their profile in front of thousands of audience members, key corporates and investors looking for fintech solutions and investment opportunities. This year, the programme received an overwhelming response, with over 500 applications from 56 economies worldwide. List of esteemed speakers at the main conference Hong Kong Special Administrative Region Government and regulators:

    The Financial Secretary, Mr Paul Chan;
    The Secretary for Financial Services and the Treasury, Mr Christopher Hui;
    The Secretary for Commerce and Economic Development, Mr Algernon Yau;
    The Chief Executive of the HKMA, Mr Eddie Yue;
    The Chief Executive Officer of the IA, Mr Clement Cheung;
    The Executive Director (Intermediaries) of the SFC, Dr Eric Yip;
    The Under Secretary for Financial Services and the Treasury, Mr Joseph Chan;
    The Under Secretary for Innovation, Technology and Industry, Ms Lillian Cheong;
    The Director-General of Investment Promotion of InvestHK, Ms Alpha Lau; and
    The Deputy Director-General of Office for Attracting Strategic Enterprises, Dr Jimmy Chiang.

     Mainland Government and regulators:

    The Director of the Local Financial Management Bureau of Shenzhen Municipality, Mr Shi Weigan; and
    The Director-General of the Guangzhou Municipal Local Finance Administration Bureau, Mr Fu Xiaochu.

     Industry leaders: Highlighted speakers in the tech space:

    The Vice President and Chief Financial Officer of Xiaomi Corporation, Mr Alain Lam;
    The Founder, Chairman and Chief Executive Officer of Linklogis, Mr Charles Song;
    The Chairman and Chief Executive Officer of Ant Group, Mr Eric Jing;
    The Corporate Vice President, Head of Tencent Financial Technology of Tencent, Mr Forest Lin; and
    The Managing Director and General Manager, Sales and Operations of Google Hong Kong, Mr Michael Yue.

     Highlighted speakers in the AI and advanced technologies space:

    The Founder and Chief Executive Officer of 4Paradigm, Mr Dai Wenyuan;
    The Founder of 3Cap Investment, Ms Esther Wong;
    The Chief Executive Officer of Fosun Capital, Mr Mike Xu;
    The Co-founder of SenseTime, Mr Xu Bing; and
    The Chief Executive Officer of Du Xiaoman Technology, Mr Zhu Guang.

     Highlighted speakers in the blockchain space:

    The Co-founder and Chief Executive Officer of R3, Mr David E. Rutter;
    The Co-Founder, Chief Executive Officer, and Chairman of Circle, Mr Jeremy Allaire;
    The President of Solana Foundation, Ms Lily Liu;
    The Chief Executive Officer of Bullish, Mr Tom Farley; and
    The Co-founder of Chainlink; Mr Sergey Nazarov.

     Highlighted speakers in the insurtech space:

    The Chief Executive Officer of AIA Hong Kong and Macau, Mr Alger Fung;
    The Chief Executive Officer of Sun Life Hong Kong , Mr Clement Lam;
    The Chief Executive Officer of Zurich Insurance (Hong Kong), Mr Eric Hui;
    The Chief Executive Officer of AXA, Greater China, Ms Sally Wan; and
    The Founder, Chairman of the Board of Directors and Chief Executive Officer of Waterdrop Inc, Mr Shen Peng.

     Highlighted speakers in the payment space:

    The Founder and Chief Executive Officer of Aspire, Mr Andrea Baronchelli;
    The Chief Executive Officer of PayMe, HSBC, Mr Brad Jones;
    The President and Chief Executive Officer of GCash/Mynt, Ms Martha Sazon;
    The Global Head of Coin Systems and Liink by JP Morgan, JP Morgan Chase Bank, Mr Naveen Mallela; and
    The Chief Executive Officer of GX Bank, Ms Pei Si Lai.

     Highlighted speakers in the financial space:

    The General Manager, Personal Digital Banking Product Department of Bank of China (Hong Kong), Mr Arnold Chow;
    The International President of Standard Chartered, Mr Benjamin Hung;
    The Executive Vice President and Chief Information Officer of WeBank, Mr Henry Ma;
    The Chief Executive Officer, Hong Kong, of HSBC, Ms Luanne Lim; and
    The Head of Services of Citi, Mr Shahmir Khaliq.

     Highlighted speakers in the Venture Capital & Investing space:

    The Managing Partner of GCCVest Advisors Limited, Mr Ben Jelloun;
    The Managing Principal, Global Head of Capital Markets, Co-Chair of Alternative Investments of Gaw Capital Partners, Ms Christina Gaw;
    Partner of 5Y Capital, Mr Elwin Yuan;
    The Co-founder and Managing Partner of DST Global, Mr John Lindfors; and
    The Co-founder and Chairman of Gobi Partners, Mr Thomas G. Tsao.

          Finoverse is the appointed event organiser of HKFW 2024. For more information and the latest updates on speakers and livestream details, please visit http://www.fintechweek.hk/, or follow via official social media accounts:LinkedIn: Hong Kong Fintech Week; andYouTube: http://www.youtube.com/c/HongKongFinTechWeek.

     
    Ends/Tuesday, October 8, 2024Issued at HKT 17:50

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Flamenco star to perform in Dec

    Source: Hong Kong Information Services

    The Leisure & Cultural Services Department has invited world-renowned Spanish flamenco diva Sara Baras to Hong Kong for the Asian premiere of her company’s latest production Vuela in December, marking her first return to the city since 2015.

    Vuela was created to celebrate the 25th anniversary of Ms Baras’ dance company and pays tribute to the Spanish guitar virtuoso and composer Paco de Lucía. It is also one of the celebratory programmes of the Cultural Centre’s 35th anniversary.

    The programme will be held at 7.45pm on December 6 and 7 at the Cultural Centre. Tickets can be booked through URBTIX or by calling 3166 1288.

    A number of extension activities will be organised for the programme, including a flamenco guitar recital to be held at 2.15pm on December 7 at Sheung Wan Civic Centre.

    The programme will also feature two flamenco dance workshops, which will be conducted in Spanish with English interpretation, at the Cultural Centre at 11am on December 7 and 8 for beginners and advanced dancers.

    Discount schemes are available for the programme, including a group booking discount as well as package discounts for performance and guitar recital or dance workshops. An early-bird discount will be offered from now until November 7 for purchasing the tickets through any of the discount schemes.

    Click here for details.

    MIL OSI Asia Pacific News

  • MIL-OSI United Nations: Consolidating North Macedonia’s institutional framework for circular economy transition

    Source: United Nations Economic Commission for Europe

    8:30 – 9:00

    Registration

    9:00 – 9:20

    Opening

    • H.E. Mr. Kire Ilioski, Ambassador, Director for Multilateral Relations, Ministry of Foreign Affairs and Foreign Trade, North Macedonia
    • Mr. Blerim Zllatku, State Advisor, Ministry of Economy and Work, North Macedonia
    • Ms. Rita Columbia, Resident Coordinator, United Nations Resident Coordination Office, North Macedonia

    9:20 – 10:25

    North Macedonia’s development landscape: National reforms and future challenges

    • Trade Facilitation

    Mr. Marjan Tasevski, Director of Sector for Customs System, Customs Administration, North Macedonia

    • Environmental sustainability

    Ms. Ana Karanfilova Maznevska, Head of Waste Department, Ministry of Environment, North Macedonia

    • Energy sustainability

    Ms. Valentina Stardelova, Ministry of Energy, Mining and Mineral Resources, North Macedonia

    • Quality Infrastructure

    Ms. Neriman Xheladini, Head of Department Single Market, Ministry of Economy and Work, North Macedonia

    • Construction

    Mr. Toni Arangelovski, Professor, Civil Engineering Faculty, Ss. Cyril and Methodius University in Skopje, North Macedonia (UKIM)

    10:25 – 10:40

    Unpacking the concept of the circular economy: Principles and business models

    • Ms. Hana Daoudi, Economic Affairs Officer, Economic Cooperation and Trade Division, UNECE

    10:40 – 11:00

    Upscaling the textile industry’s circular practices: the role of traceability

    • Ms. Claudia Di Bernardino, Lawyer and UN/CEFACT (United Nations Centre for Trade Facilitation and Electronic Business) project expert, UNECE Team of Specialists on Environmental, Social and Governance (ESG) Traceability of Supply Value Chains

    11:00 – 11:15

    Coffee Break

    11:15 – 11:50

    Circular stories from North Macedonia’s textiles industry

    • Ms. Natasha Sivevska, Executive Director, Textile Trade Association, North Macedonia
    • Ms. Evgenija Najdska, Manager, Waste Management, Comfy Angel, North Macedonia
    • Ms. Sirma Zheleva, Head of Sustainable Solutions Textile Recovery Solutions, TexCycle, Republic of Bulgaria 

    11:50 – 12:10

    From farm to fork: Circular innovations in the food industry

    • Mr. Shane Ward, Professor Emeritus of Biosystems Engineering, School of Biosystems and Food Engineering, University College Dublin

    12:10 – 13:00

    Circular stories from North Macedonia’s food industry

    • Mr. Petar Georgievski, President, Rural Development Network of the North Macedonia
    • Mr. Abdulezel Dogani, Chief Executive Officer, Vezë Sharri, North Macedonia
    • Mr. Jana Klopcevska, Associate Professor, Department of Food and Biotechnology, Ss. Cyril and Methodius University in Skopje, North Macedonia (UKIM)
    • Mr. Ismail Ferati, Assistant Professor, Faculty of Food Technology and Nutrition, University of Tetova, North Macedonia
    • Ms. Irena Djimrevska, Advisor and Project Coordinator, Deutsche Gesellschaft fürInternationale Zusammenarbeit (GIZ) GmbH

    13.00 – 13.20

    Questions and answers

    13:20 – 14:20

    Lunch Break

    14:20 – 14:40

    Closing the loop: Best practices in waste management for circularity

    • Mr. Gergely Hankó, Managing Director, Hungarian Association of Environmental Enterprises (HAEE)

    14:40 – 15:40

    Circular stories from North Macedonia’s waste treatment industry

    • Mr. Filip Ivanov, Deputy President, Macedonian Solid Waste Association
    • Mr. Filip Ivanovski, Managing Director, Pakomak, North Macedonia
    • Mr. Ljubomir Pejovski, Environment Manager, Makstil AD, North Macedonia
    • Mr. Vlado Momirovski, Manager, Ekocentar 97, North Macedonia 
    • Ms. Angelina Taneva-Veshoska, Institute for Research in Environment, Civil Engineering and Energy (IEGE)
    • Ms. Tamara Todorovska, Deputy Chief of Party/ Public-Private Dialogue Lead, USAID Partnerships for Economic Growth, North Macedonia

    15:40 – 15:55

    Questions and answers

    15:55 – 16:25

    Researching circularity: academic perspectives on the transition

    • Mr. Dejan Mirakovski, Rector, Goce Delcev University of Štip, North Macedonia
    • Ms. Emilija Fidanchevski, Full Professor, Faculty of Technology and Metallurgy, Ss. Cyril and Methodius University in Skopje, North Macedonia (UKIM)
    • Ms. Aleksandra Martinovska Stojcheska, Full Professor, Faculty of Agricultural Sciences and Food at the Ss. Cyril and Methodius University in Skopje (UKIM)

    16:25 – 16:40

    Coffee Break

    16:40 – 17:30

    Supporting circular economy practices among enterprises: the experience of North Macedonia’s Chamber of Commerce and Industry

    • Ms. Daniela Mihajlovska, Manager, Centre for Circular Economy, Economic Chamber of North Macedonia
    • Mr. Edvard Sofevski, President, Small Business Chamber of Commerce, North Macedonia
    • Ms. Elena Miloshevska Jovanovska, Country Representative, Swiss Import Promotion Program (SIPPO), North Macedonia
    • Mr. Goran Damovski, Team Leader, Swiss Agency for Development and Cooperation (SDC) Increasing Market Employability (IME) Program, North Macedonia
    • Ms. Irina Janevska, President, Organization for Social Innovation (ARNO), North Macedonia

    17:30 – 17:45

    Financing the circular transition

    • Delegation of the European Union to North Macedonia

    17:45 – 18.00

    Questions and answers

    18:00 – 18:15

    Closing remarks: Mapping future cooperation with UNECE

    • Mr. Blerim Zllatku, State Advisor, Ministry of Economy and Work, North Macedonia
    • Mr. Ariel Ivanier, Chief, Market Access Section, Economic Cooperation and Trade Division, UNECE

    MIL OSI United Nations News

  • MIL-OSI Economics: bydfiwo.com: BaFin warns consumers about website

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about the website bydfiwo.com. According to information available to BaFin, financial and investment services are being provided on this website without the required authorisation.

    The website operator is simply referred to as “BYDFI”, and there is no information regarding its legal form. The website does not contain a legal notice or any information regarding the company’s registered office. BaFin already issued a warning about the almost identical website bydfixio.com on 26 August 2024.

    Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.

    The information provided by BaFin is based on section 37 (4) of the German Banking Act (KreditwesengesetzKWG).

    Please be aware:

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

    MIL OSI Economics

  • MIL-OSI Economics: Samsung and Decorex Celebrated the Art of Design and Tech in Durban

    Source: Samsung

    For the first time ever, Samsung was thrilled to host an industry event in Durban in with Decorex, blending the worlds of decor, design, and cutting-edge technology. Together, they celebrated the art of living well and embraced the latest innovations that elevate our everyday lifestyles.
     
    Whether enhancing personal spaces, embarking on new adventures, or adding that extra touch of sophistication to daily routines, the event inspired interior designers, interior architects, hospitality buyers and design enthusiasts to explore new possibilities. Guests immersed themselves in a dynamic showcase, engaging with Samsung’s incredible line-up and discovering how the brand is transforming lifestyle creativity. It was a fun, vibrant, and engaging afternoon.
     
    Your Space, Your Style
    Guests learned that their spaces reflect who they are and how they live—and Samsung was there to help them reimagine it. From innovative technology to stylish, functional design, Samsung’s lifestyle products empower individuals to recreate their environments in a way that reflects their unique tastes.
     
    The Future is Here – Powered by AI
    At the heart of Samsung’s vision this year was the future of AI-driven technology, which was unveiled at CES earlier this year. This year’s showcase highlighted several key products, each designed to seamlessly integrate technology and design into everyday life:

    The Frame TV:
    TV when it’s on, art when it’s off. The Frame transformed screens into stunning pieces of art with customizable frames and access to the Samsung Art Store, allowing living rooms to double as personal galleries.
     

     
    Neo QLED:
    Pioneering the next generation of picture quality, Samsung’s Neo QLED delivered an extraordinary viewing experience with Quantum Mini LEDs, taking clarity and colour to new heights.
     

    Bespoke Fridge:
    The Bespoke refrigerator combined functionality with style, featuring customizable panels that allowed attendees to personalize their kitchens while blending cutting-edge cooling technology with chic, contemporary design.
     
    The Serif:
    Unconditionally beautiful, The Serif looked stunning from any angle. Whether placed on a tabletop or its detachable floor stand, it enhanced any room with Samsung’s award-winning QLED technology and seamless mobile integration.
     

     

    Music Frame:
    A harmonious fusion of art and audio, the Music Frame proudly displayed printed masterpieces while immersing users in powerful audio, whether connected to a TV or used standalone.
     
    Smart Monitor M8:
    A one-stop solution for work, entertainment, and design, the Smart Monitor M8 combined functionality and flair, making it perfect for modern lifestyles.
     

     
    These were just a few highlights from the vast array of lifestyle products on display. Attendees were encouraged to explore, interact, and imagine how these innovations could transform their everyday lives.

    Samsung Retail Locations
    For those ready to enhance their spaces, products were made available at Samsung stores located at Gateway and Pavilion malls.
     
    The event concluded with a shared enthusiasm for lifestyle innovation, inspiring imaginations and encouraging guests to take their spaces—and lives—to the next level.

    MIL OSI Economics

  • MIL-OSI United Kingdom: Prison Governors Association Speech

    Source: United Kingdom – Executive Government & Departments

    Lord Timpson, Minister for Prisons, Probation and Reducing Reoffending, sets out why prison governors are at the forefront of efforts to drive down reoffending.

    Please note the political content has been removed from this transcript.

    Thank you for that introduction, Graham, and for the invitation to speak – it’s great to be here.

    Thanks to everyone involved for putting this event together.

    Let me start by saying just how grateful I am for the PGA’s work.

    You speak up for change, where change is needed…

    You push Government, where it needs to be pushed…

    And you do it not just for those you represent, but in the interests of public safety too.

    Your voice is valued, and we thank you for it… even when you say things we don’t necessarily want to hear.

    I know it’s your first annual conference since becoming PGA President, Tom – congratulations again on your appointment.

    Let me also congratulate your new Vice-Chairs, Mark, and Carl, on their appointments too.

    I’ve known Tom for a while now – we once even shadowed each other a few years ago, when he was Governor at HMP Wakefield, and I headed up the Timpson Group.

    I took Tom to visit some of our shops – one branch was in Uttoxeter Tesco, as I recall – while I found out what it’s like to lead one of our toughest prisons. 

    I know who has it harder…!

    And now I’m wearing a new hat, I did ask Tom if he fancied another job swap – but for some reason he wasn’t up for it.

    I can’t think why…

    I realise that the CEO of a business and prison governor are very different roles – but there are similarities, too.

    Both manage complex organisations. Both need a strategic brain, excellent management skills, the ability to communicate, inspire and motivate.

    But the main difference is this: most people know what a CEO does, what their job entails.

    You, on the other hand, are largely hidden from view. Even when prisons are plastered all over our TV screens, as they are right now.

    The average person would have little idea about your day-to-day – what it really means to lead a prison in 2024, as Tom has set out so starkly just now.

    Working every hour, under extraordinary pressure, to run safe and secure regimes.

    Dealing with self-harm, deaths and the scourge of drugs on a daily basis.

    Supporting your teams and trying to nurture them in an environment more stressful than most could imagine.

    Every challenge amplified, because our prisons are full to bursting.

    These are the realities you face every day.

    Now, prisons have always fascinated me – since I was a young boy, and my Mum, Alex, would take the babies she’d fostered into HMP Styal, so their mothers could see them.

    I’d sit outside in the car and wonder what was going on inside…

    What had these women done that was so terrible, that they couldn’t be with their babies?

    It was the start of a life-long interest.

    And as you may know, around 10 percent of people who work for Timpson are ex-offenders.

    It all started by chance 22 years ago, when, as a new CEO, I visited a local prison and met Matt – who got into a fight after his A-levels, and instead of going to university, went to jail.

    Matt showed me around the wing, and I immediately liked him. He was bright, enthusiastic, and I thought he was just the sort of person we wanted in the business.

    So I told him – “when you get out, I’ll give you a job.”

    And the rest is history.

    Matt went on to be one of our most successful branch managers – in a branch just a stone’s throw from the prison he served time in.

    He’s still there today. And while he hasn’t gone far physically, he’s travelled lightyears in terms of what he’s achieved…

    Because he had the will to turn his life around, and that extra support to get into work.

    I knew there must be more great people like Matt in our prisons, and from then on, we decided to proactively recruit ex-offenders.

    Later, working with you, we set up prison training academies…

    Then to create Employment Advisory Boards, building those vital links between prisons and local employers.

    And, in 2016, I was honoured to become Chair of the Prison Reform Trust.

    So I’ve been behind the scenes.

    And in that time, one constant has been your outstanding leadership, in the most challenging circumstances.

    It has been a privilege to get to know you, and to see the incredible work you do.

    Thank you.

    You have our deepest respect, and our gratitude.

    Over the years there has been much debate about what prison is primarily for – be it punishment, public protection or deterrence.

    Of course, it’s all of these things.  

    It’s right that dangerous people are taken off our streets – and that people who destroy lives and wreck our communities face the consequences.

    But if we cut to the core of it, prison should also be about reducing offending. That’s the only way we are genuinely going to protect the public.

    I say ‘should’, here, because it’s something we haven’t always been very good at in this country. I know you’d agree.

    Serious criminals should see the inside of a jail cell – and the most dangerous should stay there.

    But what happens next to the many offenders who will someday be let out really matters.

    For the vast majority of offenders, being locked up is a fork in the road.

    One way on that road can lead them to turn their lives around…

    The other will take them straight back to prison.

    Too often, it’s the latter. And I’ve no doubt how deeply frustrating it must be for you to see the same faces at your gates again and again.

    The numbers are clear – 80 percent of offending in this country is reoffending. That is too high by any measure.

    But I know just how determined you are to turn that around.  

    We all know what the answers are. I know that you know what needs to be done. My job is to help you realise those ambitions.

    Having worked in the family business since I was 14, I hope I’ve learnt a few things about leadership and responsibility along the way. There are plenty of philosophies out there.

    I found that a strong culture and high standards – rooted in trust, and kindness – was what worked for us.

    And I firmly believe that strong leaders – you – are the single most important element in a good prison.

    You set the culture…

    You set those high standards for your teams to follow, and for the prisoners you rehabilitate.

    And I can’t stress enough how important high standards are in our prisons.  

    Put it this way – I’ve never known a great organisation to have poor standards.

    That starts with the basics – a clean, tidy, environment, where prisoners and staff respect the rules.

    When I was a CEO, I’d check the Timpson head office car park for weeds and litter…

    Small things, I know. But they really matter…

    Those first impressions for people arriving really matter…

    And as leaders, it’s our job to lead by example.

    And in over 20 years of being involved with prisons, I can’t think of a time when your job has been tougher.

    For too long, you’ve been doing your best in very challenging circumstances.

    People don’t turn up to work to get beaten up, they turn up to inspire people, and to and turn lives around.

    Yet our crammed prisons are breeding violence – which threatens everyone’s safety, staff and prisoners alike…

    Staff shortages – and a lack of experienced staff – stretch your ability to run the kind of regimes you want to run.

    While so many of your prisons are dilapidated, in desperate need of repair…

    I’m grateful to Charlie Taylor – who is up next – for HMIP’s unflinching focus on these issues.

    And I know it hasn’t been easy, trying to rehabilitate offenders in a system teetering on the edge of disaster.

    A system that, when we came into government, had been run at 99 percent capacity for months.

    I should emphasise – none of this is your doing – in fact, the PGA has been sounding the alarm loud and clear.

    That’s why we had to take the tough decision to bring in changes to automatic release to ease the pressure on our prisons.

    It was, quite literally, a rescue effort.

    If we hadn’t acted, the justice system would have ground to a halt:

    Courts would have been unable to hold trials and police unable to make arrests.

    We would have faced the total breakdown of law and order.

    We only have to look at the recent disorder on our streets to see how close to catastrophe we came…

    Because we could deliver justice swiftly, we brought the violence to an end.

    But, in the process, we came dangerously close to running out of prison space entirely.

    We had no choice but to introduce emergency measures in the first few days of this new Government.

    It was only thanks to the heroic efforts of prison and probation staff, that we pulled through.

    We didn’t want to do this. But we were left with no choice…

    To attempt to delay any further, would have allowed our justice system to collapse.

    We could never have allowed that:

    This Government will always put the safety of the public – first.

    Throughout all of this you have been under immense pressure.

    Offender management units, in particular, have borne the brunt of several emergency measures…

    While more broadly the estate has coped with higher numbers of late arrivals and redirections.

    It’s in times like these that strong leadership matters most. We couldn’t have managed this crisis without you.

    And while there is still work to be done ahead of the next releases later this month, I want to thank you, again, for everything you’ve done to get us to this point.

    So, our changes have bought us some time. Time for the system to catch its breath.

    But these challenges haven’t just disappeared, and the crisis isn’t over.

    If things don’t change, we’ll end up in the same position all over again… Sooner than we care to mention.

    I want us to get a point where you can run your prisons how you want to run them…

    That is why the Justice Secretary has been clear that getting prisons built is a priority for her.

    That is why we will take control of the planning process, and deem prison development of national importance.

    And we also need decent regimes, that help offenders turn their backs on crime for good.

    I know there is brilliant, innovative work going on, and I want to encourage more of it.

    But innovating is difficult – impossible, even – when you’re so full that you can’t let prisoners out of their cells.

    That’s why it is essential we resolve this capacity crisis…

    So we can support and empower you to go even further to reduce reoffending.

    And, if we create the right conditions for you to do your jobs as you’d want to do them – I hope to see more of you staying in post for longer, too.

    Stability at the top is crucial.

    Because our prisons are on a journey, and there’s a long road ahead.

    Culture change doesn’t happen overnight.

    In my experience, it can take anywhere from three to five years to really move an organisation on.

    Much of our success will be down to you, our prison leaders.

    So I want to see more of you staying on that road for longer – and I want you to tell me how we can support you to do that.

    Great prisons need great leaders. But second, they need hardworking dedicated staff, like the officers in your teams.

    Fundamentally, prisons are a people business – like any company.

    As a CEO, I found that the happier people are in their jobs, the better they work. If they feel valued, trusted and cared for, they are going to perform well for you.

    And in your teams, people are working under such intense pressure day in, day out.

    The relationships – between you, and your staff… and your staff and your prisoners – go right to the core of safe, decent prisons.

    If we invest in officer training – in their well-being, and development – we empower them to do much more than simply maintain order.

    We empower them to become agents of change – to help people turn their lives around.

    I’ve met plenty of men and women who say that a prison officer transformed their life.

    Officers who took the time to mentor them – who really got to know the people on their wing.

    Who knew if their mum wasn’t well, or when their kids were starting school.

    But to be a prison officer requires a unique set of skills – quite unlike any other job.

    That ‘jailcraft’ equips officers for the challenges they will face every day. It takes time, and continual learning.

    Before joining the Government, I had the privilege of leading a review of prison officer training – speaking to hundreds of officers across the estate.

    It’s clear we have some decent foundations – but we can do so much more.

    I want to see more in-depth training that fully prepares officers for the realities of the role, right from the start.

    Greater consistency – with a strong curriculum and clear standards…

    More local ownership of training…

    Clear channels of accountability…

    And a culture of ongoing learning throughout an officer’s career…

    One that rightly builds pride in this absolutely critical role.

    I want to push forward with these changes, and I’ll say more about this as soon as I can.

    The third element of a good prison is, of course, purposeful activity.

    Prison education and training has a huge influence on the path offenders choose to take.

    It’s crucial that we get this right if we are to release better citizens, not better criminals.

    Yet I’ve seen people leave prison not even knowing how to use a computer.

    When we spend so much of our lives – and jobs – online, how are they supposed to get on in the modern world?

    That’s just one example. There are many others.

    But the point is clear: when you don’t have the right skills to get a job, slipping back into old habits is all too easy.

    And the lure of easy cash might feel like the only way to put money in your pocket.

    So, it might not come as a surprise that I’m passionate about prison education and training.

    Training that opens doors – that gives prisoners pride – and real skills that today’s employers want.

    I’m clear that prison is a punishment. But that’s no reason to stop the one in four working-age people in the UK who have criminal records from getting jobs.

    We know that prison leavers are less likely to reoffend if they have a job within a year of release.

    So, getting them into work doesn’t just cut crime, it boosts our economy too.

    That’s a win-win we can’t ignore.

    But for many, the process of applying for jobs can be daunting.

    That’s why I’m pleased to see a new partnership – between the Chartered Institute of Personnel and Development Trust and the New Futures Network.

    It will embed HR professionals in EABs…

    Ensure that prison leavers can access HR advice to support them into work…

    Provide mentoring for Prison Employment Leads…

    And help us to create even closer links between prisons and local employers.

    And, I can testify, former prisoners make great colleagues.

    In my experience, they work hard, they turn up on time, and they are trustworthy – because they are so hungry to prove themselves.

    The amount they can achieve – starting from rock bottom – is nothing short of extraordinary.

    It’s no exaggeration to say that some of the most accomplished people I know were once in prison.

    They want to grasp that second chance with both hands.

    Together – let’s make sure they get it.

    Our fourth route to reducing reoffending is by tackling the scourge of drugs in our prisons.

    As you know so well, drugs undermine rehabilitation, fuel violence, debt, and are a sure path back into crime.

    Nearly half of prisoners have a history of drug misuse.

    Many will have addictions when they turn up at your gates, but too many who were clean on the outside are drawn into drugs on the inside.

    That flies in the face of what we want our prisons to achieve.

    The answer is clear.

    First, we need to stop drugs getting into prison. We can hardly expect prisoners to kick the habit if our jails are a sweetshop for drugs.

    We know what you are up against. Not least the growing use of drones to smuggle drugs – and the phones that power the illicit market – over your walls…

    And the increasing threat of synthetic opioids…

    We have to adapt rapidly if we are to protect our staff and prisoners.

    Second, we need prisons to drive demand for drugs down, not up.

    Purposeful activity is so important here. If prisoners have meaningful ways to spend their time, they’re less likely to turn to drugs through boredom, or distress.

    Staff training is crucial too. Your teams have to understand drugs, and addiction, so they can make sure prisoners get the right support, and are helped to recover.

    Third, prisoners with an addiction need treatment.

    There is good evidence to show this reduces reoffending – but we also need to make sure they stay in treatment after release. That groundwork starts in prison.

    And fourth – where it’s safe and appropriate – we should be driving more people with a drug problem away from prison and into treatment.

    That could include greater use of drug and alcohol treatment requirements attached to community sentences, for example.

    There are no easy solutions, but I want to work with you to create a system where people leave custody prepared to lead productive, drug-free lives.

    I know there is innovative work going on out there – and I want to explore how we can replicate that work elsewhere.

    As I come to a close, let me say again – this is the beginning of a new journey for our prisons.

    This Government will rebuild and reform the system.

    We’ll accelerate the prison building programme, to make sure we have the cells we need.

    We’ll soon publish our ten-year capacity strategy, setting out how we will acquire new land for prisons, and reform the planning process.

    And, as you’re aware, we will carry out a review of sentencing – with a focus on how it both protects the public and reduces reoffending.

    We’ll soon be in a position to share the terms of reference of that independent review and announce its chair – and I know the PGA will play its full part once it is underway.

    As I’ve said, change takes time. It also takes stamina. The last Government hardly led by example – 14 Prison Ministers in as many years isn’t a record to be proud of.

    So I can assure you – it’s very much my intention to stay the course.

    I want you to judge me on my actions. When I’m back here next year, and the year after that, let’s see where we’ve got to.

    I’m fortunate to have started this job with a good working knowledge of prisons, but it’s been humbling to visit some of you recently, and be reminded of the complex and challenging work you do every day.

    Thanks to everyone who has taken the time to talk to me so far –

    Aled at Holme House…

    Pete at Five Wells…

    Amy at Downview…

    Andy at Wandsworth…

    Emily at High Down…

    Dan at Preston…

    And many, many more…

    I should say that getting out into the estate is another of my top priorities…

    So you can tell me straight – what’s really going on in the system, what you’re up against, and how, together, we can make it better.

    I hear the last Minister to go to Isle of Wight prison was Anne Widdecombe. So, Dougie, you’ve been forewarned. I’ll be coming down!

    Let me finish by saying thank you, again…

    To you, to your teams, and every single person who keeps the system running – the teachers, nurses, psychologists, and non-operational staff.

    As leaders, your role goes far beyond managing institutions.

    You are protecting communities…

    You are shaping lives…

    And ultimately, you are strengthening our society.

    Thank you.

    Updates to this page

    Published 8 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Press Release – States of Alderney response to alternative air transport model proposition – 08.10.24 Tuesday 08 October 2024

    Source: Channel Islands – States of Alderney

    Press Release

    Date:  8th October 2024

    States of Alderney response to alternative air transport model proposition

    The States of Alderney has welcomed alternative ideas for air transport presented by three local people to States Members and now made public but emphasises that much work would be required before it can be considered as a viable option.

    The proposal seen by the States is authored by the Alderney Air Transport Group which consists of local men Roger Dadd, Rod Paris and Malcolm Matthews, who have experience of air transport operations.

    A States spokesman said: “We welcome ideas from the public and thank the group for its concept which we will review with interest as we develop the strategy for solving our connectivity issues. In the meantime, no doubt the group will continue to develop their ideas into a feasible and deliverable proposition that could be taken to the market. 

    “A successful air transport model will only emerge once we have clarity on the runway’s dimensions. Until then, such ideas are theory rather than a sound business plan.”

    The alternative proposition recommends buying up to four nine-passenger, single-pilot Tecnams and operating an inter-island service with no Alderney-Southampton route.

    A report commissioned by the States Trading Supervisory Board examining the options for Alderney’s runway is expected to be brought to the States of Alderney by the end of the year.

    Ends

    States of Alderney media enquiries:Alistair.Forrest2@gov.gg

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: CMA appoints 3 Senior Legal Directors

    Source: United Kingdom – Executive Government & Departments

    Lourenço Ventura and Emma Cochrane will join the CMA’s existing team and Richard Romney will take up his current Senior Legal Director role on a permanent basis.

    iStock

    Richard, Emma and Lourenço will be responsible for leading legal teams across the CMA’s portfolio of work – Richard for mergers, markets and regulatory appeals, Emma for consumer enforcement and Lourenço for competition enforcement, alongside the current Senior Legal Directors.   

    Following a highly successful interim promotion, Richard will take up the permanent position with immediate effect. Prior to joining the CMA’s Legal Service on temporary promotion in January 2023, Richard was a Director within the Mergers team, responsible for overseeing a range of high-profile merger cases. Richard originally joined the CMA in 2019 as a Senior Associate from Freshfields. 

    Emma will join the CMA from Linklaters, where she is a Counsel in the Antitrust & Foreign Investment Group. Emma has over ten years’ experience as a competition lawyer, including advising on cartel investigations, mergers and acquisitions, market investigations, abuse of a dominant position and other commercial agreements. Prior to Linklaters, Emma spent four years at Simmons and Simmons in the EU, Competition & Regulatory group. 

    Lourenço is returning to the CMA after spending the last two years working at the European Commission in Brussels. Previously, Lourenço spent ten years in various roles at the Office of Fair Trading – the CMA’s predecessor – and the CMA, most recently in the role of Legal Director. Before this, Lourenço spent 3 years at the Lisbon office of law firm Garrigues working on competition and EU law, commercial agreements, pharmaceutical and regulatory, and misdemeanour procedures. 

    Emma is joining the CMA in November and Lourenço will take up his post at the start of 2025. 

    Welcoming the appointments, Chris Prevett, General Counsel at the CMA said:  

    Sound, strategic legal risk management, and reaching robust legal decisions, underpins every aspect of the CMA’s work on behalf of UK consumers and businesses. With the CMA’s responsibilities set to grow following the Digital Markets, Competition and Consumers Act, I am really pleased to be making three appointments at this senior level.  

    Each of these senior appointments brings substantial expertise, and will add further strength and depth to the senior leadership team and high calibre lawyers and policy professionals comprising the CMA’s Legal Service. 

    This is a well-deserved promotion for Richard, reflecting his contribution to the CMA’s Legal Service, and I look forward to working with Emma and welcoming back Lourenço.

    Notes to Editors 

    1. For media enquiries, contact the CMA press office on 020 3738 6460 or press@cma.gov.uk

    Updates to this page

    Published 8 October 2024

    MIL OSI United Kingdom

  • MIL-OSI: Beam Global EV ARC™ Systems Continue to Provide Essential Power during Hurricane Helene

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Oct. 08, 2024 (GLOBE NEWSWIRE) — Beam Global (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, today announced its EV ARC™ systems in the south eastern United States continued to operate during Hurricane Helene. For example, EV ARC™ systems at the Bay Pines Florida Veterans Affairs Health Care in Big Bend, an area located in the direct path of Hurricane Helene, remained operational, sending data and continuing to provide a vital source of emergency power throughout the storm even while submerged in eight feet of storm surge.

    Hurricane Helene made a historic landfall in Big Bend, Florida as one of the most powerful storms to hit the state. The Category 4 hurricane brought up to eight-foot storm surges and 140 mph winds, leaving nearly one million Florida residents without power.

    Designed to endure extreme weather conditions, Beam Global EV ARC™ charging infrastructure is independently rated to withstand winds of up to 165 mph and can operate effectively in up to 9.5 feet of flooding. These systems come equipped with an optional Emergency Power Panel, which offers 120v and 240v outlets for use by first responders and authorized personnel when utility power is not available. EV ARC™ systems are designated by the federal General Services Administration (GSA) as disaster preparedness response and recovery products due to energy security and resiliency capabilities during grid outages and natural or man-made disasters.

    “Hurricane Helene tested our EV ARC product like never before, and it did not disappoint,” said Beam Global CEO Desmond Wheatley. “Even when the systems were buffeted by hurricane winds and submerged in eight feet of water with waves crashing over them, these vital infrastructure products continued to operate. Our customers were able to log in remotely and verify that the systems remained online throughout the storm, providing essential power. Beam Global’s products are becoming more and more relevant as global electricity demand increases and the job of providing it the traditional way becomes more challenging because of natural disasters and capacity constraints.”

    Beam Global EV ARC™ products have faced extreme storm conditions before. During last year’s Hurricane Idalia, EV ARC™ systems in Florida, Georgia and the Carolinas continued to provide vital EV charging and emergency power in areas suffering from prolonged grid outages. Beam Global’s government and commercial customers were able to continue to charge their EVs and access the emergency power panels to provide services to the broader community. It can often take days or weeks for utility power to be restored to affected areas. Beam Global’s products provide vital electrical energy during those periods whether they were there and survived the disaster or are delivered and rapidly deployed as a recovery asset post-event.

    The frequency and severity of climate disasters in the U.S. continues to significantly increase, with the National Oceanic and Atmospheric Administration (NOAA) reporting a rise in billion-dollar weather and climate disasters from an average of 5.8 events per year in the 1980s to over 22 events annually in recent years. This trend underscores the urgent need for resilient, off-grid infrastructure solutions like EV ARC™ systems that can withstand extreme conditions and support communities during crises.

    To learn more about Beam Global products visit BeamForAll.com.

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

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

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/93e37add-1e8d-406e-b310-aef9878be529

    This press release was published by a CLEAR® Verified individual.

    The MIL Network

  • MIL-OSI: Bybit and Nordic Blockchain Association Collaborate to Drive Innovation in the Nordic Blockchain Ecosystem

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Oct. 08, 2024 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announced a strategic partnership with the Nordic Blockchain Association (NBA), the driving force behind the largest blockchain and Web3 conference in the Nordics. This collaboration aims to strengthen ties within the regional ecosystem while fostering international partnerships that will drive innovation and growth across the industry.

    The partnership comes at a pivotal time as the NBA continues its efforts to build a cohesive and vibrant blockchain community in the region. The association’s work, led by dedicated steering committees, has been instrumental in providing guidance and strategic direction to the local blockchain landscape. These committees have focused on addressing the challenges facing blockchain adoption, promoting education, and offering support to startups and established businesses alike.

    A key aspect of this partnership will be the upcoming Nordic Blockchain Conference 2025 (NBC25), which will take place next summer. As the largest blockchain and Web3 event in the Nordics, NBC25 promises to bring together thought leaders, innovators, and visionaries from around the world. The event will provide a platform to explore the latest trends, discuss regulatory frameworks, and highlight groundbreaking solutions that are reshaping the future of blockchain technology.

    “We’re excited to partner with the Nordic Blockchain Association. This collaboration aligns with our commitment to supporting the growth of blockchain ecosystems worldwide. We look forward to contributing to the region’s innovation and development,” added Helen Liu, Chief Operating Officer at Bybit.

    “We are excited that such a large and important international company as Bybit has joined the Nordic Blockchain Association as a member. This once again shows that the Nordic region has an important role to play in the global blockchain ecosystem. We look forward to creating value, raising awareness, and promoting education with our new community partner, Bybit,” said Jakob Mikkel Hansen, CEO & Board Member of Nordic Blockchain Association.

    With this partnership, Bybit is set to play a pivotal role in advancing the Nordic blockchain ecosystem, fostering collaboration between local and international partners, and supporting the NBA’s ongoing efforts to address the evolving needs of the industry.

    Bybit and the NBA are committed to working hand-in-hand to elevate the region’s role as a key player in the global blockchain and Web3 landscape.

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

    For more details about Bybit, users can visit Bybit Press

    For media inquiries, users can contact: media@bybit.com

    For more information, users can visit: https://www.bybit.com

    For updates, users can follow: Bybit’s Communities and Social Media

    Contact

    Head of PR
    Tony Au
    Bybit
    tony.au@bybit.com

    The MIL Network

  • MIL-OSI: The Eclipse Foundation Launches ThreadX Alliance to Champion the Growth and Sustainability of the World’s First and Only Safety-Certified Open Source RTOS

    Source: GlobeNewswire (MIL-OSI)

    BRUSSELS, Oct. 08, 2024 (GLOBE NEWSWIRE) — The Eclipse Foundation, one of the world’s largest open source software foundations, has announced the launch of the ThreadX Alliance, a new initiative dedicated to ensuring the continued growth and sustainability of the Eclipse ThreadX real-time operating system (RTOS) and its dynamic ecosystem. ThreadX, the world’s first and only safety-certified open source RTOS, powers billions of devices across a broad range of industries, including automotive, medical, aerospace, home appliances, and industrial controls.

    With ThreadX already a proven solution trusted by companies worldwide, the ThreadX Alliance ensures the ongoing sustainability of its robust code base, platform enhancements, and crucial safety certification efforts. By joining the alliance, organisations can access exclusive resources while contributing to the evolution of the next generation of embedded systems.

    “ThreadX is the only open source safety-certified RTOS on the market today, powering over 12 billion devices and trusted in a vast array of embedded applications,” said Mike Milinkovich, executive director of the Eclipse Foundation. “The ThreadX Alliance is an important step in ensuring the platform’s future, allowing companies to actively support its sustainability while gaining valuable tools and resources to streamline their development efforts, reduce costs, and bring products to market.”

    Key benefits of joining the ThreadX Alliance include:

    • Exclusive Early Access to the ThreadX Marketplace: Be first in line to access the future ThreadX marketplace, including pre-sales and pre-development support from leading service providers.
    • Access to Safety Manuals: Unlock read-only, non-commercial access to essential safety manuals, offering critical insights to enhance your development processes.
    • Licensing Opportunities for Safety Certifications: Gain access to licensing agreements for ThreadX safety artefacts (additional fees apply), accelerating your products’ functional safety certifications.
    • Exclusive Marketing and Branding Opportunities: Proudly display the ThreadX Alliance participant logo to showcase your commitment to the growth and sustainability of the industry’s only safety-certified open source RTOS.

    The launch of the ThreadX Alliance represents a significant leap forward in supporting the open source embedded systems ecosystem, especially in industries where safety and reliability are critical. Companies looking to take part in this influential community are invited to visit threadxalliance.org to learn more about how to contribute to and benefit from the program.

    About Eclipse ThreadX
    Eclipse ThreadX (formerly Azure RTOS) is the world’s first and only safety-certified open source real-time operating system (RTOS), and has been trusted by industries for over two decades. Deployed in over 12 billion devices since its launch in 1997, ThreadX offers an MIT-licensed, robust, modular platform that includes advanced subcomponents for graphical interfaces (GUIX), networking (NetX Duo), file storage (FileX), and USB connectivity (USBX). To learn more about how ThreadX powers next-generation embedded systems, visit threadx.io.

    About the Eclipse Foundation
    The Eclipse Foundation provides our global community of individuals and organisations with a business-friendly environment for open source software collaboration and innovation. We host the Eclipse IDE, Adoptium, Software Defined Vehicle, Jakarta EE, and over 420 open source projects, including runtimes, tools, specifications, and frameworks for cloud and edge applications, IoT, AI, automotive, systems engineering, open processor designs, and many others. Headquartered in Brussels, Belgium, the Eclipse Foundation is an international non-profit association supported by over 385 members. Visit us at this year’s Open Community Experience (OCX) conference on 22-24 October 2024 in Mainz, Germany. To learn more, follow us on social media @EclipseFdn, LinkedIn, or visit eclipse.org.

    Third-party trademarks mentioned are the property of their respective owners.

    Media contacts:
    Schwartz Public Relations (Germany)
    Gloria Huppert/Marita Bäumer
    Sendlinger Straße 42A
    80331 Munich
    EclipseFoundation@schwartzpr.de
    +49 (89) 211 871 -70/ -62

    514 Media Ltd (France, Italy, Spain)
    Benoit Simoneau
    benoit@514-media.com
    M: +44 (0) 7891 920 370

    Nichols Communications (Global Press Contact)
    Jay Nichols
    jay@nicholscomm.com
    +1 408-772-1551

    The MIL Network

  • MIL-OSI: Gilat Satellite Networks Awarded approximately $4 Million Contract to Provide Connectivity for rural areas in Latin America

    Source: GlobeNewswire (MIL-OSI)

    PETAH TIKVA, Israel, Oct. 08, 2024 (GLOBE NEWSWIRE) — Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today that it has secured approximately $4 Million contract to provide rural connectivity including banking transactions in Latin America for a period of 3 years.

    Gilat provides critical connectivity for people living in remote areas who rely on the bank for payment services, as well as support services for senior citizens, families, and other underserved populations.

    Gilat provides satellite communications solutions to distant branches, as well as satellite backup links, to ensure connectivity and business continuity. This is critical for the bank’s operation for core banking, e-mail, security, ATMs and Point of Sale.

    “We are very pleased to support essential banking services in the rural areas of Latin America,” stated Ron Levin, Gilat’s Chief Commercial Officer. “Over the years, we have built a robust satellite network, continuously enhancing it with the latest technological advancements. This ensures that we consistently meet the high-quality standards required for business continuity, even in remote areas and in the face of potential disasters.”

    About Gilat

    Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With over 35 years of experience, we create and deliver deep technology solutions for satellite, ground, and new space connectivity and provide comprehensive, secure end-to-end solutions and services for mission-critical operations, powered by our innovative technology. We believe in the right of all people to be connected and are united in our resolution to provide communication solutions to all reaches of the world.

    Our portfolio includes a diverse offering to deliver high-value solutions for multiple orbit constellations with very high throughput satellites (VHTS) and software-defined satellites (SDS). Our offering is comprised of a cloud-based platform and high-performance satellite terminals; high-performance Satellite On-the-Move (SOTM) antennas; highly efficient, high-power Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) and includes integrated ground systems for commercial and defense, field services, network management software, and cybersecurity services.

    Gilat’s comprehensive offering supports multiple applications with a full portfolio of products and tailored solutions to address key applications including broadband access, mobility, cellular backhaul, enterprise, defense, aerospace, broadcast, government, and critical infrastructure clients all while meeting the most stringent service level requirements. For more information, please visit: http://www.gilat.com

    Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel, including those related to the current terrorist attacks by Hamas, and the war and hostilities between Israel and Hamas, and Israel and Hezbollah and Iran; and other factors discussed under the heading “Risk Factors” in Gilat’s most recent annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and Gilat undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:

    Gilat Satellite Networks
    Hagay Katz, Chief Products and Marketing Officer
    Hagayk@gilat.com

    EK Global IR
    Ehud Helft, Managing Partner
    ehud@ekgir.com

    The MIL Network

  • MIL-OSI: Growing nuclear industry and recent acquisition continue to strengthen Calian nuclear results

    Source: GlobeNewswire (MIL-OSI)

    OTTAWA, Ontario, Oct. 08, 2024 (GLOBE NEWSWIRE) — Calian Group Ltd. (TSX: CGY) has announced it secured a number of new contracts in the fourth quarter for its nuclear and environmental services division, marking significant growth in the last quarter of FY2024 ending on September 30. The new contracts—19 in total—represent a 58% increase over Q3 FY2024, primarily driven by the successful integration of MDA’s nuclear assets and strong organic growth.

    The acquisition of MDA’s nuclear division in March 2024 has allowed Calian to capitalize on increased synergies across its nuclear business, through the addition of engineering, tooling and robotics expertise, enhancing its capacity to deliver comprehensive, end-to-end solutions for Canada’s growing nuclear sector. The new contracts span major new nuclear projects in Ontario, Saskatchewan and New Brunswick, supporting life-extension programs for Canada’s existing nuclear facilities and support for next-generation technologies like small modular reactors (SMRs). This expansion has also led to a doubling of the division’s workforce to meet the growing demand for FY2025.

    “The integration of MDA’s nuclear assets has been pivotal in expanding our capabilities and market reach within the nuclear sector,” said Patrick Houston, Chief Financial Officer and Chief Development Officer, Calian. “This strategic acquisition has enabled us to deliver more robust and comprehensive solutions for our clients, further strengthening Calian’s position as a leader in nuclear services. Our Q4 contract signings highlight the increasing trust that our clients place in us to provide cutting-edge, safe and reliable solutions in an industry critical to achieving global sustainability goals.”

    The global nuclear energy market continues to grow, driven by the demand for clean, sustainable energy to address climate change. In Canada, the federal government’s 2024 budget reinforced its commitment to nuclear energy as a key tool in reaching net-zero emissions by 2050. Calian’s nuclear and environmental services division is committed to supporting this national effort, particularly in delivering advanced solutions for reactor refurbishments and SMR developments.

    “Calian is well-positioned to meet the evolving needs of Canada’s nuclear sector,” said Hani Al Anid, Vice President, Calian Nuclear. “With our expertise and highly skilled team, we can continue to meet the vital demands of our current and future customers and support the needs of both existing and next-generation nuclear projects in Canada and around the world.”

    Calian’s nuclear and environmental services division provides a comprehensive range of services covering the entire nuclear lifecycle. This includes safety analysis, licensing, emergency preparedness, environmental protection, decommissioning, waste management, and cutting-edge systems engineering and robotics. As an approved supplier for all CANDU nuclear utilities in Canada, Calian’s nuclear and environmental services division has a proven track record of ensuring the safety and sustainability of Canada’s nuclear infrastructure for over 25 years.

    To learn more, visit the Calian nuclear and environmental services web page on calian.com.

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

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

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

    Investor Relations inquiries:
    ir@calian.com


    DISCLAIMER

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

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

    The MIL Network

  • MIL-OSI Economics: Secretary-General of ASEAN delivers Opening Remarks at the 2024 ASEAN Business & Investment Summit in Vientiane, Lao PDR

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, this afternoon delivered opening remarks at the ASEAN Business & Investment Summit (ABIS) under this year’s theme, “ASEAN: Enhancing Connectivity and Resilience” in Vientiane, Lao PDR. Dr. Kao emphasised the importance of the business community in supporting innovation, competitiveness and creativity. Dr. Kao also highlighted the potential of exploring new untapped business opportunities, strengthening ASEAN’s connectivity and building resilience for a more inter-connected prosperous future.

    Download the full remarks here.

    The post Secretary-General of ASEAN delivers Opening Remarks at the 2024 ASEAN Business & Investment Summit in Vientiane, Lao PDR appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI: Lindsay Grider Joins Braemont Capital as Partner and Head of Capital Partnerships

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Oct. 08, 2024 (GLOBE NEWSWIRE) — Braemont Capital (“Braemont” or the “Firm”), a relationship-driven investment firm that partners with exceptional companies at growth inflection points, today announced that Lindsay Grider has joined the Firm as Partner and Head of Capital Partnerships. Ms. Grider will lead Braemont’s capital formation, fundraising, and investor engagement initiatives, as well as continued strategy development.

    Ms. Grider comes to Braemont with nearly two decades of experience building fundraising and investor relations programs as well as developing fund formation and strategy initiatives. She previously served as Global Head of Fundraising and Investor Relations at Levine Leichtman Capital Partners (“LLCP”) where she led investor engagement, capital raising and strategic marketing efforts. Prior to joining LLCP, Ms. Grider was Head of Investor Relations for Tailwater Capital and Director of Investor Relations at NGP Energy Capital Management.

    Robert Covington, Founder and Managing Partner, said, “Lindsay is one of the most respected investor relations professionals in our industry and will bring a wealth of experience, insight and innovation to both our capital raising and the strategic leadership of our firm. Lindsay brings a long track record of serving as a trusted partner to investors all over the world and her addition furthers Braemont’s commitment to serving as the preferred partner for families and founders and for our investors for years to come. We are delighted to welcome her to the Firm.”

    Ms. Grider commented, “I am thrilled to join Robert and the Braemont team at such an exciting time. Braemont is known for its distinct investing approach and commitment to its partners, and I continue to be impressed with what the team has been able to achieve in such a short period. I look forward to working closely with the Firm’s network to execute fundraising and co-investment strategies to support our investments and drive excellent outcomes for all our partners.”

    Ms. Grider previously worked as Director at Sterling Stamos and began her career at Citigroup and Wachovia Securities in their investment banking divisions. She serves as a Senior Advisor to 3P Energy Capital and has served on the boards of several industry and charitable organizations at a local and national level. She holds a B.A. in International Commerce from Vanderbilt University.

    About Braemont Capital
    Braemont Capital is a relationship-driven investment firm focused on partnering with founders, families and ownership-minded management teams to invest in exceptional companies at growth inflection points. Our firm is differentiated by the combination of an experienced team, extensive industry partner network and a flexible, long-term capital base. We are growth-oriented and seek to generate superior outcomes through entrepreneurial business-building initiatives. Our capital base enables us to be flexible in structuring and holding investments to execute these initiatives and create enduring value. For more information, please visit: http://www.Braemont.com or http://www.linkedin.com/company/braemont-capital.

    The information contained herein has been prepared solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any securities or to participate in any investment strategy and may not be used or relied upon in connection with any offer or sale of securities. Past performance is not indicative of future results. Braemont Capital Management, LLC is an investment adviser registered with the U.S. Securities and Exchange Commission.

    For Braemont media inquiries, please contact:
    Gagnier Communications
    Dan Gagnier
    Braemont@gagnierfc.com

    The MIL Network

  • MIL-OSI: Red Cat Secures $1.6 Million In Contracts for its FlightWave Edge 130 Blue

    Source: GlobeNewswire (MIL-OSI)

    SAN JUAN, Puerto Rico, Oct. 08, 2024 (GLOBE NEWSWIRE) — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, today announced it secured $1.6 million in contracts for Edge 130 Blue drones, FlightWave’s Blue UAS approved military-grade tricopter to the U.S. Customs & Border Protection (CBP). The contract was secured through Darley, a leading distributor of equipment and technology to first responders and the military, and was coordinated for procurement by the U.S. Defense Logistics Agency (DLA) on behalf of CBP.

    FlightWave, an industry-leading provider of VTOL drone, sensor and software solutions was acquired by Red Cat in September 2024. The acquisition brings FlightWave’s flagship drone, the Edge 130 Blue into its family of low-cost, portable unmanned reconnaissance and precision lethal strike systems. FlightWave’s size, weight and vertical take off capabilities makes it ideal for maritime operations and littoral environments. FlightWave’s recent TACFI award will accelerate advanced enhancements to the Edge 130 Blue.

    “We are excited to continue our relationship with the U.S. Customs & Border Protection, the largest federal law enforcement agency that already uses our Teal 2 drones for enhanced situational awareness with supplemental airborne reconnaissance, surveillance and tracking,” said Jeff Thompson, Red Cat CEO. “Following our playbook from the acquisition and growth of our flagship Teal drones, we are well positioned to scale up production and get the Edge 130 Blue into the hands of our current customers like the CBP, as well as other security and defense forces around the world.”

    The Edge 130 Blue is a UAS-certified military-grade tricopter for long-range mapping, inspection, surveillance, and reconnaissance needs. Designed specifically for government and military applications, the Edge 130 Blue can be assembled and hand-launched in just one minute by a single user to capture high-accuracy aerial imagery with medium-range autonomy. Weighing in at only 1200g, the Edge has a 60+ minute flight time in forward mode, an industry-leading endurance among all other Blue UAS-approved drones available.

    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 the Teal 2, a small unmanned system offering the highest-resolution thermal imaging in its class, the Edge 130 Blue 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 Form 10-K filed with the Securities and Exchange Commission on July 27, 2023. 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.

    Contact:

    INVESTORS:
    E-mail: Investors@redcat.red

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

    The MIL Network

  • MIL-OSI: Greenbacker broadens fundraising capabilities with new senior business development hires

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 08, 2024 (GLOBE NEWSWIRE) — Greenbacker Capital Management (“GCM” and, together with its affiliates, “Greenbacker”), an energy transition-focused investment manager, is pleased to announce that it has expanded its distribution and fundraising capabilities, particularly in markets where Greenbacker is seeing increasing investor demand for sustainable investments. As senior members of the business development team, Adam Evans, CAIA, CIMA and John Hennessey broaden Greenbacker’s ability to offer individual and institutional investors the opportunity—across all distribution channels—to participate in the energy transition.

    “With Greenbacker’s evolving set of strategies, the timing couldn’t be better to add these two individuals, and their wealth of experience, to the distribution side of our business,” said Brandon Praznik, Greenbacker’s Executive Vice President of Business Development. “The strategic additions of Adam and John bolster our capital raising efforts as Greenbacker seeks to execute on its growth targets and capitalize on the energy transition opportunity set for our investors.”

    Evans is an industry veteran with over 20 years of experience distributing financial services products to institutional and retail investors. As a senior vice president on Greenbacker’s business development team, he is responsible for the distribution of company strategies through all distribution channels in the Central US. Prior to Greenbacker, Evans served as a director within the financial institutions group at Lazard Asset Management, before which he held the role of business development director at Cushing Asset Management. In both roles, Evans was responsible for distributing firm strategies to the registered investment advisor (“RIA”), bank trust, and family office channels, including securing investment in new strategies.

    Hennessey is a seasoned business development professional, bringing to Greenbacker 15 years of experience marketing and distributing investment strategies to the RIA, family office, and institutional channels. As a vice president on Greenbacker’s business development team, he is responsible for the distribution of company strategies through all channels, with a focus on the Southeastern US. Previously in his career, Hennessey served as a director at Chicago Atlantic Group and a vice president at Merit Hill Capital; at both firms, he was responsible for business development, covering the RIA, family office, and institutional channels.

    The two join the company during a period of expansion and transformation for Greenbacker. Greenbacker’s latest quarterly results highlight substantial year-over-year growth in revenue and clean power production, as well as a 30% increase in fee-earning AUM,1 bringing the total to $762 million. As of the end of the second quarter, the company’s aggregate AUM2 had reached $3.7 billion.

    Greenbacker also recently expanded its investments team following the launch of GCM’s fourth sustainability-driven investment strategy, focused on Energy Transition Real Estate. Earlier this year, Greenbacker announced it added three new members to its leadership team, including a new Chief Financial Officer and the newly created Head of Infrastructure and Head of Capital Markets positions. Late last year, the company expanded its private equity investment team, adding a managing director to its Greenbacker Development Opportunities (“GDEV”) strategy, which invests in growth-stage sustainable infrastructure development platforms.

    GCM serves as the SEC-registered investment manager to four energy transition-focused investment strategies. Greenbacker remains committed to empowering a sustainable future by putting investor capital to work in the energy transition asset class. As of June 30, 2024, Greenbacker’s fleet of clean energy projects has produced over 10.7 million MWh of clean power3 since 2016, abating nearly 7.5 million metric tons of carbon4 and conserving approximately 7.4 billion gallons of water,5 compared to the amount of water needed to produce the same amount of power by burning coal.

    About Greenbacker Capital Management
    Greenbacker Capital Management LLC is an SEC-registered investment adviser that provides advisory and oversight services related to project development, acquisition, and operations in the renewable energy, energy efficiency, and sustainability industries. For more information, please visit https://greenbackercapital.com.

    About Greenbacker Renewable Energy Company
    Greenbacker Renewable Energy Company LLC is a publicly reporting, non-traded limited liability sustainable infrastructure company that both acquires and manages income-producing renewable energy and other energy-related businesses, including solar and wind farms, and provides investment management services to other renewable energy investment vehicles. We seek to acquire and operate high-quality projects that sell clean power under long-term contracts to high-creditworthy counterparties such as utilities, municipalities, and corporations. We are long-term owner-operators, who strive to be good stewards of the land and responsible members of the communities in which we operate. Greenbacker conducts its investment management business through its wholly owned subsidiary, Greenbacker Capital Management, LLC, an SEC-registered investment adviser. We believe our focus on power production and asset management creates value that we can then pass on to our shareholders—while facilitating the transition toward a clean energy future. For more information, please visit https://greenbackercapital.com.

    Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update and forward-looking statement contained herein to conform to actual results or changes in its expectations.

    Greenbacker media contact
    Chris Larson
    Media Communications
    646.569.9532
    c.larson@greenbackercapital.com


    1 Fee-earning AUM represents the asset base upon which management fee revenue is earned from GCM’s managed funds. The financial and portfolio metrics set forth herein are unaudited and subject to change.
    2 Aggregate AUM includes GREC and GCM’s managed funds. AUM represents the underlying fair value of investments, determined generally in accordance with ASC 820, cash and cash equivalents and project level debt. These figures are unaudited and subject to change.
    3 As of June 30, 2024.
    4 As of June 30, 2024. When compared with a similar amount of power generation from fossil fuels. Carbon abatement is calculated using the EPA Greenhouse Gas Equivalencies Calculator which uses the Avoided Emissions and generation Tool (AVERT) US national weighted average CO2 marginal emission rate to convert reductions of kilowatt-hours into avoided units of carbon dioxide emissions.
    5 As of June 30, 2024. Gallons of water saved are calculated based on Operational water consumption and withdrawal factors for electricity generating technologies: a review of existing literature – IOPscience, J Macknick et al 2012 Environ. Res. Lett. 7 045802.

    The MIL Network

  • MIL-OSI: NextGen Digital Advances Development of Cloud AI Hosting Platform and PCSections.com

    Source: GlobeNewswire (MIL-OSI)

    FREDERICTON, New Brunswick, Oct. 08, 2024 (GLOBE NEWSWIRE) — NextGen Digital Platforms Inc. (“NextGen” or the “Company”) (CSE: NXT) is pleased to provide an update on recent and ongoing developments at its two core businesses, namely e-commerce platform PCSections.com (“PCS”) and the cloud-based hardware-as-a-service leasing business (“Cloud AI Hosting”). Both platforms continue to be upgraded to improve scalability, performance, and operational efficiency, as the Company continues to drive forward its growth strategy.

    Cloud AI Hosting Buildout Trial

    The Company has engaged Logic V Inc. (“Logic V”), a Vancouver-based provider of cloud computing and IT services, to explore transitioning its Cloud AI Hosting business to a fully cloud-based model. This new approach would involve the Company virtually leasing a subset of computing workstations from larger cloud computing and/or datacentre providers, which the Company would then sublease to smaller third-party artificial intelligence end-users via the existing online portal already being used by Cloud AI Hosting. Virtually leasing this computing power, rather than building an in-house computing fleet, could provide significant scalability and operational benefits as the Company builds out this business line.

    Logic V is currently conducting a proof of work (the “POW”) to assess this transition. If successful, this new approach is expected to significantly enhance scalability and speed to market by eliminating the need for NextGen to acquire and operationalize physical workstations, thus avoiding risks associated with physical inventory, operational challenges, and the large upfront costs of workstation purchases and infrastructure upgrades.

    NextGen expects Logic V to complete the POW in the coming weeks, and in due course will provide an update on outcomes from the POW and the next phase of the Cloud AI Hosting buildout.

    PCS Platform Enhancements

    PCS is undergoing both front-end and back-end upgrades aimed at enhancing the overall user experience, site performance, and security. The upgrades to PCS include:

    • Design Enhancements: Updates to the color scheme, layout, pattern, and animations to improve visual appeal and usability.
    • Payment & Checkout Improvements: Optimization of the payment process for a more seamless and secure customer experience.
    • Security Measures: Implementation of techniques to bolster security against unauthorized access and potential vulnerabilities in the payment process.
    • Performance Boost: Improvements to the website’s loading speed and overall performance for faster browsing.
    • General Bug Fixes: Identification and resolution of bugs to ensure smoother operation.

    The front-end design improvements are expected to be completed soon, and the Company will continue to work on finalizing the back-end enhancements.

    Kevin Zhou, NextGen’s Director of Platforms & Marketing, stated, “Pursuing a cloud-based model for Cloud AI Hosting has the potential to be a more efficient and scalable path compared to our original plan of acquiring physical workstations. If the current POW is successful, we will immediately scale up our operations. If not, we are still able and funded to expand our current fleet of workstations, towards our goal of owning a total of 10 to 15 GPUs with enough computing power for our smaller-scale users. Regardless of the outcome, we anticipate expanding the operational capacity and revenue level of our Cloud AI Hosting business once Logic V completes the POW. Similarly, with the updates on PCS, we are aiming to improve its overall functionality and competitiveness as we continue to refine both platforms.”

    Joel Freudman, President & CEO of NextGen, added, “We are pleased with the development milestones being achieved across both our PCS and Cloud AI Hosting platforms. We remain committed to their continued growth to fuel NextGen’s development trajectory, and are exploring what other potential revenue streams and ancillary capabilities we may be able to derive by leveraging our existing infrastructure.”

    About NextGen Digital Platforms Inc.
    NextGen is a Canadian technology company specializing in the development and acquisition of revenue-generating micro-technology digital platforms. The Company currently operates e-commerce platform PCSections.com (“PCS”) and a hardware-as-a-service business supporting the artificial intelligence sector, called cloud AI hosting (“Cloud AI Hosting”). Both PCS and Cloud AI Hosting were developed in-house by NextGen. From time to time the Company also intends to evaluate and acquire or develop other micro-technology platforms.

    NextGen is a portfolio company of Resurgent Capital Corp. (“Resurgent”), a merchant bank providing venture capital markets advisory services and proprietary financing. Resurgent works with promising public and pre-public micro-capitalization companies listing on Canadian stock exchanges. For more information on Resurgent and its portfolio companies, please visit Resurgent’s website at https://www.resurgentcapital.ca/ or follow Resurgent on LinkedIn at https://ca.linkedin.com/company/resurgent-capital-corp.

    For further information about NextGen, please contact:

    Joel Freudman
    Founder, President & CEO
    NextGen Digital Platforms Inc.
    Phone: (647) 368-7789
    Email: info@nextgendigital.ca
    Website: https://nextgendigital.ca/

    Cautionary Statements Regarding Forward-Looking Information

    Neither the Canadian Securities Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

    This press release contains certain forward-looking statements, including those relating to the future development and revenue potential of PCS and Cloud AI Hosting; the POW for Cloud AI Hosting; and expected benefits of improvements to PCS and Cloud AI Hosting. These statements are based on numerous assumptions regarding the Company’s business plans and technological development forecasts, and outcomes of the POW, that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: technological and business risks inherent in artificial intelligence, e-commerce, and other emerging sectors that the Company is or may become involved in; operational and technical challenges; timeline for completion of the POW, and the outcomes therefrom, including as to revenue and/or profitability of Cloud AI Hosting; the Company’s ability to compete with other businesses in the e-commerce and/or cloud hosting markets; negative operating cash flow and insufficient capital to complete the development and/or expansion of any of the Company’s technologies; volatility in economic conditions; and those other risks described in the Company’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.

    The MIL Network

  • MIL-OSI: Landsbankinn hf.: Tender offer results

    Source: GlobeNewswire (MIL-OSI)

    Landsbankinn hf. announced today the results of a tender offer published on 30 September 2024 where holders of its EUR 2025 notes (ISIN: XS2306621934) were invited to tender their notes for purchase by the bank against a cash payment. The tender offer was subject to the terms and conditions outlined in the tender offer memorandum.

    The bank received valid tenders of EUR 124,731,000 of which all were accepted.

    Dealer managers are ABN AMRO Bank, J.P. Morgan, Natixis and Nomura.

    Further information on the tender offer results is available in the announcement made public on Euronext Dublin (http://www.ise.ie) where the bonds are listed.

    This announcement is released by Landsbankinn hf. and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (“MAR”), encompassing information relating to the Offer described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Hreiðar Bjarnason, Chief Financial Officer for Landsbankinn hf.

    The MIL Network

  • MIL-OSI: YieldMax™ Launches Option Income Strategy ETF on Palantir Technologies (PLTR)

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, MILWAUKEE and NEW YORK, Oct. 08, 2024 (GLOBE NEWSWIRE) — YieldMax™ announced the launch today of the following ETF:

    YieldMax™ PLTR Option Income Strategy ETF (NYSE Arca: PLTY)

    PLTY seeks to generate current income by pursuing options-based strategies on Palantir Technologies Inc. (“PLTR”). PLTY is actively managed by ZEGA Financial. PLTY does not invest directly in PLTR.

    PLTY is the newest member of the YieldMax™ ETF family and like all YieldMax™ ETFs, aims to deliver current income to investors. With respect to distributions, PLTY will be a Group B ETF and its first distribution is expected to be announced on November 6, 2024. Please see table below for distribution and yield information for all outstanding YieldMax™ ETFs.

    ETF
    Ticker
    1
    ETF Name Reference
    Asset
    Distribution
    Rate
    2,4,5
    30-Day
    SEC Yield
    3
    TSLY YieldMax™ TSLA Option Income Strategy ETF TSLA 115.53% 3.09%
    OARK YieldMax™ Innovation Option Income Strategy ETF ARKK 53.47% 3.37%
    APLY YieldMax™ AAPL Option Income Strategy ETF AAPL 31.19% 3.17%
    NVDY YieldMax™ NVDA Option Income Strategy ETF NVDA 65.43% 3.24%
    AMZY YieldMax™ AMZN Option Income Strategy ETF AMZN 41.70% 3.27%
    FBY YieldMax™ META Option Income Strategy ETF META 31.65% 3.22%
    GOOY YieldMax™ GOOGL Option Income Strategy ETF GOOGL 22.22% 3.28%
    NFLY YieldMax™ NFLX Option Income Strategy ETF NFLX 36.06% 3.45%
    CONY YieldMax™ COIN Option Income Strategy ETF COIN 97.94% 3.70%
    MSFO YieldMax™ MSFT Option Income Strategy ETF MSFT 27.17% 3.33%
    DISO YieldMax™ DIS Option Income Strategy ETF DIS 35.17% 3.41%
    XOMO YieldMax™ XOM Option Income Strategy ETF XOM 18.73% 3.32%
    JPMO YieldMax™ JPM Option Income Strategy ETF JPM 34.76% 3.60%
    AMDY YieldMax™ AMD Option Income Strategy ETF AMD 73.41% 3.24%
    PYPY YieldMax™ PYPL Option Income Strategy ETF PYPL 102.97% 2.94%
    SQY YieldMax™ SQ Option Income Strategy ETF SQ 86.71% 3.44%
    MRNY YieldMax™ MRNA Option Income Strategy ETF MRNA 71.92% 3.91%
    AIYY YieldMax™ AI Option Income Strategy ETF AI 47.26% 3.76%
    MSTY YieldMax™ MSTR Option Income Strategy ETF MSTR 81.35% 0.00%
    YBIT YieldMax™ Bitcoin Option Income Strategy ETF Bitcoin ETP 87.09% 4.07%
    CRSH YieldMax™ Short TSLA Option Income Strategy ETF TSLA 101.44% 3.61%
    GDXY YieldMax™ Gold Miners Option Income Strategy ETF GDX® 40.15% 3.27%
    SNOY YieldMax™ SNOW Option Income Strategy ETF SNOW 40.64% 3.44%
    ABNY YieldMax™ ABNB Option Income Strategy ETF ABNB 33.60% 2.84%
    FIAT YieldMax™ Short COIN Option Income Strategy ETF COIN 110.90% 3.22%
    DIPS YieldMax™ Short NVDA Option Income Strategy ETF NVDA 87.48% 3.69%
    BABO YieldMax™ BABA Option Income Strategy ETF BABA 33.24% 2.62%
    YQQQ YieldMax™ Short N100 Option Income Strategy ETF NDX® 26.88% 3.63%
    TSMY YieldMax™ TSM Option Income Strategy ETF TSM 23.98% 3.48%
    SMCY* YieldMax™ SMCI Option Income Strategy ETF SMCI
    YMAX YieldMax™ Universe Fund of Option Income ETFs Multiple 61.63% 62.93%
    YMAG YieldMax™ Magnificent 7 Fund of Option Income ETFs Multiple 45.17% 50.85%
    ULTY YieldMax™ Ultra Option Income Strategy ETF Multiple 113.94% 0.00%


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

    Note: CRSH, FIAT, DIPS and YQQQ are hereinafter referred to as the “Short ETFs” and “ADR” stands for American Depositary Receipt.

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

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

    * The inception date for SMCY is September 11, 2024.

    1. All YieldMax™ ETFs shown in the table above (except YMAX, YMAG and ULTY) have a gross expense ratio of 0.99%. YMAX and YMAG have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs. ULTY has a gross expense ratio of 1.24% but the investment adviser has agreed to a 0.10% fee waiver through at least February 28, 2025.
    2. The Distribution Rate shown is as of close on October 7, 2024. The Distribution Rate is the annual distribution rate an investor would receive if the most recently declared distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by multiplying such distribution by twelve (12), and dividing the resulting amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.
    3. The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended September 30, 2024, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period. As of such date, the ULTY subsidized and unsubsidized 30-Day SEC Yields were 0.00% and 0.00%, respectively. The subsidized yield reflects fee waivers in effect while the unsubsidized yield does not adjust for any fee waivers in effect.
    4. Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.
    5. As of the date hereof, distributions for the following ETFs have included return of investor capital: TSLY, OARK, APLY, AMZY, NVDY, GOOY, JPMO, XOMO, PYPY, CONY, DISO, FBY, MSFO, NFLY, SQY, AMDY, MRNY, AIYY, MSTY, ULTY, YMAX, YMAG, YBIT, SNOY, CRSH and GDXY. For additional information, please visit http://www.YieldMaxETFs.com/TaxInfo.

    Standardized Performance

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

    Prospectuses

    Click here.

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

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

    Contact Gavin Filmore at gfilmore@tidalfg.com for more information.

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

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

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

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

    Investing involves risk. Principal loss is possible.

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

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

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

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

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

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

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

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

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

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

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

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

    Risk Disclosures (applicable only to BABO and TSMY)

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

    Depositary Receipts Risk: Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

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

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

    Risk Disclosures (applicable only to GDXY)

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

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

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

    Risk Disclosures (applicable only to YBIT)

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

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

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

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

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Risk Disclosures (applicable only to YQQQ)

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

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

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

    Holdings

    As of October 7, 2024, the YieldMax™ PLTR Option Income Strategy ETF did not hold any shares of Palantir Technologies Inc. (“PLTR”). As of such date, the holdings of PLTR in such fund were 0.00%.

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

    © 2024 YieldMax™ ETFs

    The MIL Network

  • MIL-OSI Europe: Written question – Taxation of donations of goods – E-001888/2024

    Source: European Parliament

    Question for written answer  E-001888/2024
    to the Commission
    Rule 144
    Moritz Körner (Renew)

    In Germany, donations of goods to recognised non-profit organisations are not exempt from VAT. It is thus makes better financial sense for companies to destroy fully functioning unsold products than to give them away.

    The obligation to pay VAT on donations of goods could be abolished in the following ways: donations of goods could be made exempt from VAT; they could remain subject to VAT, but the tax base could be set at zero; or the 0% VAT rate proposed by the Commission could be applied to socially beneficial transactions.

    • 1.Does the Commission believe it to be legally possible to introduce a tax exemption for donations of goods in Germany in accordance with EU law?
    • 2.If so, what specifically would need to be done in Germany to exempt them from VAT in accordance with EU law, and if not, what changes would be needed to EU law to enable tax exemptions for such donations?
    • 3.Does the Commission plan to make a proposal to this effect, and if so, when might this be expected, and if not, why not?

    Submitted: 1.10.2024

    Last updated: 8 October 2024

    MIL OSI Europe News