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Category: Business

  • MIL-Evening Report: OECD comparisons reveal an unflattering picture of inequality in NZ – could that change?

    Source: The Conversation (Au and NZ) – By Colin Campbell-Hunt, Emeritus Professor in Business, University of Otago

    Getty Images

    Recent research showing the richest New Zealanders pay less tax than their counterparts in nine similar OECD countries raises, yet again, serious questions about wealth, equality and fairness.

    How unequal is the distribution of income in New Zealand? How do we compare with some of the countries we might benchmark against? And, if we don’t like what we see, can we change it?

    The metric most widely used by economists to measure inequality in incomes is called the Gini coefficient (named after the Italian statistician Corrado Gini who developed it).

    It brings together income data across all households, typically divided into groupings of 10% or 20% of the total. When there is no inequality of incomes between groups, Gini equals zero. When the top group captures all income, Gini equals 1.

    Measuring inequality

    The graph below shows Gini coefficients, before taxes and welfare payments (known as “transfers”), for all 37 countries in the OECD in 2019 (before the COVID pandemic disrupted household surveys). Ginis are ranked left to right, from least to most unequal.

    The Gini before taxes and transfers is a measure of the inequality produced by the structures of a country’s economy: the way value chains operate, the markets for products and services, the scarcity of certain skills, rates of unionisation, and so on.

    This gives us a measure of structural inequalities in a country. Governments, however, use taxes and transfers to shift income between households. They take taxes from some and boost incomes of the more disadvantaged.

    Ginis of incomes after taxes and transfers give us a measure of how well members of a society can support similar standards of living. They are shown in the following graph, again from least to most unequal. These give us a measure of social inequalities.

    Focusing just on social inequality, it is no surprise Scandinavian countries are among the least unequal, as well as Canada and Ireland. Neither is it surprising the UK and US approach the highest levels of social inequality in the OECD.

    Inequalities in Australia and New Zealand lie between these, but further from the Scandinavians and closer to the Anglo-Americans.

    Social inequality in NZ

    When we look at the difference between structural and social inequalities, we can see the extent to which taxes and transfers – government redistribution of income – reduce inequality.

    As we can see, New Zealand’s structural inequality, shaped by the economic reforms of the mid-1980s, is middling by comparison to other OECD countries.

    But New Zealand’s social inequality lies near the bottom third of OECD measures. A halving of top income tax rates in the mid-1980s and the rollback of the welfare state in the 1990s (after then finance minister Ruth Richardson’s 1991 “mother of all budgets”) significantly contributed to this.

    The downward columns in the following graph show the effect of government redistributive measures, ranked from most to least active. The result of these government redistributions in New Zealand is weaker even than in the laissez-faire economies of the United Kingdom and United States.

    Where does NZ sit?

    How do New Zealand’s inequalities compare with countries we might choose to benchmark against?

    Below, the Scandinavian countries famous for their egalitarian social systems are shown in orange. In green are countries that tolerate slightly higher social inequality: Sweden, Canada and Ireland.

    And the UK and US – exemplars of free-market capitalism that were the models for New Zealand’s reforms of the mid-1980s – are highlighted in grey.

    Reducing inequality

    How hard would it be to change? Could New Zealand, for example, reduce its level of social inequality to match Canada? Absolutely, yes.

    Other OECD data show Canada significantly cut its inequalities between 2010 and 2019. The country moved from a position identical to Luxembourg (haven for Europe’s wealthy) to be roughly level with Sweden.

    To match Canada’s level now, New Zealand would need to reduce structural inequalities further, or redistribute about as much as Norway and Denmark do. It can be done, in other words.

    Indeed, Finland shows government redistributions can transform some of the worst levels of structural inequality to produce outcomes comparable to other Scandinavian countries.

    New Zealand can aspire to goals for social equality matching those in the upper half of OECD countries. Beyond revisions to taxation and transfers, inequalities in health and education would also need to come down to reduce the social and economic costs of poverty and disadvantage that should bring shame to us all.

    The author acknowledges the contribution of data provided by Max Rashbrooke.

    Colin Campbell-Hunt does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. OECD comparisons reveal an unflattering picture of inequality in NZ – could that change? – https://theconversation.com/oecd-comparisons-reveal-an-unflattering-picture-of-inequality-in-nz-could-that-change-239306

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Translation: Media Advisory: Infrastructure Announcement in Edmonton, Alberta

    MIL OSI Translation. Canadian French to English –

    Source: Government of Canada – MIL OSI Regional News in French

    Media Advisory

    Edmonton, Alberta, May 2, 2024 — Members of the media are invited to an infrastructure announcement with The Honourable Randy Boissonnault, Minister of Employment, Workforce Development and Official Languages and Jordan Reiniger, Executive Director, Boyle Street Community Services.

    Date: Friday, May 3, 2024

    Time: 11:30 AM (MTD)

    Location: okimaw peyesew kamik (King Thunderbird Centre)10010 107a AveEdmonton, AB T5H 4H8

    Contact persons

    For further information (media only), please contact:

    Mathis Denis Press OfficerOffice of the Minister of Employment, Workforce Development and Official Languages343-573-1846mathis.denis@hrsdc-rhdcc.gc.ca

    Media Relations Infrastructure Canada613-960-9251Toll free: 1-877-250-7154Email: media-medias@infc.gc.caFollow us on Twitter, Facebook, Instagram And LinkedInWebsite: Infrastructure Canada

    Elliott Tanti Director, Communications and EngagementBoyle Street Community Services587-338-4025etanti@boylestreet.org

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

    MIL Translation OSI

  • MIL-OSI Reportage: Education key to open banking success, BNZ survey finds

    Source: BNZ statements

    While many New Zealanders have heard of open banking, few understand its benefits, according to new research from BNZ.*

    Open banking gives bank customers the power to control and securely share their financial data with trusted third parties like fintechs.

    Access to that data means banks and fintechs can create highly tailored products and services, such as apps that offer insights into spending habits, budget planning and savings goals, or that instantly share financial information with multiple lenders, making it easier and faster to apply for a loan.

    “Our survey found that while 60% of respondents have heard of open banking, only a quarter (26%) have some understanding of what it means,” says Karna Luke, BNZ Executive, Customer Products and Services.

    “However, after learning more about its capabilities, nearly three-quarters (73%) expressed an interest in using open banking services.

    “This shows that New Zealanders are very open to new ways of managing their finances but need the right information to feel confident about using the technology,” says Luke.

    The survey also shed light on some risky practices highlighting a need for greater education. Two-thirds (66%) of respondents reported having used payment services that rely on screen scraping. This practice puts users’ data at risk by requiring them to share their online banking login credentials with third parties to access certain services.

    “Open banking provides a safe and secure way to share your financial data with trusted third parties without ever having to disclose your banking login details. It’s much more secure than screen scraping, but our survey shows a big gap between awareness and understanding of open banking’s benefits, particularly around security,” says Luke.

    Bridging the knowledge gap

    Luke says education is key to building the trust and confidence needed to drive greater adoption of open banking and realise its benefits.

    “At BNZ, we’ve been collaborating with fintechs since 2018 to develop innovative products and services that showcase open banking’s potential, and we’ve developed content and resources to inform and engage our customers about the benefits. Already, more than 250,000 BNZ customers are using apps and other services made possible through open banking.”

    “While we’ve made good progress, there’s still more work to be done to educate New Zealanders about the benefits of open banking and build trust in its capabilities. This will be crucial to ensure that everyone can take advantage of the huge potential open banking offers.”

    Luke highlighted the importance of the Consumer Data Right (CDR), which is currently progressing through Parliament as part of the Customer and Product Data Bill. The CDR sets rules around how customer data is shared and managed and ensures legal safeguards are in place to protect New Zealanders.

    “While banks have been working hard to build the technology needed for open banking, the CDR will provide the rules and protections necessary to ensure people feel secure and confident using these new services,” Luke says.

    “The Government’s commitment to investigate opportunities for early adoption of open banking by government agencies, in line with recommendations from the Commerce Commission, is also a welcome move which could significantly boost public trust and understanding.

    “We’re committed to working alongside regulators and the wider industry to ensure that open banking delivers on its promise of greater financial empowerment and choice for all New Zealanders.”

    For more information about open banking and BNZ’s initiatives, visit bnz.co.nz/openbanking.

    *Source:  BNZ Voice customer panel survey, 18th to 28th July 2024. Total responses: n=355. The profile of participating customers was not controlled for this survey.

    The post Education key to open banking success, BNZ survey finds appeared first on BNZ Debrief.

    MIL OSI Analysis –

  • MIL-Evening Report: How can we improve public health communication for the next pandemic? Tackling distrust and misinformation is key

    Source: The Conversation (Au and NZ) – By Shauna Hurley, PhD candidate, School of Public Health, Monash University

    Pexels/The Conversation

    There’s a common thread linking our experience of pandemics over the past 700 years. From the black death in the 14th century to COVID in the 21st, public health authorities have put emergency measures such as isolation and quarantine in place to stop infectious diseases spreading.

    As we know from COVID, these measures upend lives in an effort to save them. In both the recent and distant past they’ve also given rise to collective unrest, confusion and resistance.

    So after all this time, what do we know about the role public health communication plays in helping people understand and adhere to protective measures in a crisis? And more importantly, in an age of misinformation and distrust, how can we improve public health messaging for any future pandemics?

    Last year, we published a Cochrane review exploring the global evidence on public health communication during COVID and other infectious disease outbreaks including SARS, MERS, influenza and Ebola. Here’s a snapshot of what we found.



    Read more:
    Why are we seeing more pandemics? Our impact on the planet has a lot to do with it

    The importance of public trust

    A key theme emerging in analysis of the COVID pandemic globally is public trust – or lack thereof – in governments, public institutions and science.

    Mounting evidence suggests levels of trust in government were directly proportional to fewer COVID infections and higher vaccination rates across the world. It was a crucial factor in people’s willingness to follow public health directives, and is now a key focus for future pandemic preparedness.

    Here in Australia, public trust in governments and health authorities steadily eroded over time.

    Initial information from governments and health authorities about the unfolding COVID crisis, personal risk and mandated protective measures was generally clear and consistent across the country. The establishment of the National Cabinet in 2020 signalled a commitment from state, territory and federal governments to consensus-based policy and public health messaging.

    During this early phase of relative unity, Australians reported higher levels of belonging and trust in government.

    But as the pandemic wore on, public trust and confidence fell on the back of conflicting state-federal pandemic strategies, blame games and the confusing fragmentation of public health messaging. The divergence between lockdown policies and public health messaging adopted by Victoria and New South Wales is one example, but there are plenty of others.

    When state, territory and federal governments have conflicting policies on protective measures, people are easily confused, lose trust and become harder to engage with or persuade. Many tune out from partisan politics. Adherence to mandated public health measures falls.

    Our research found clarity and consistency of information were key features of effective public health communication throughout the COVID pandemic.

    We also found public health communication is most effective when authorities work in partnership with different target audiences. In Victoria, the case brought against the state government for the snap public housing tower lockdowns is a cautionary tale underscoring how essential considered, tailored and two-way communication is with diverse communities.



    Read more:
    What pathogen might spark the next pandemic? How scientists are preparing for ‘disease X’

    Countering misinformation

    Misinformation is not a new problem, but has been supercharged by the advent of social media.

    The much-touted “miracle” drug ivermectin typifies the extraordinary traction unproven treatments gained locally and globally. Ivermectin is an anti-parasitic drug, lacking evidence for viruses like COVID.

    Australia’s drug regulator was forced to ban ivermectin presciptions for anything other than its intended use after a sharp increase in people seeking the drug sparked national shortages. Hospitals also reported patients overdosing on ivermectin and cocktails of COVID “cures” promoted online.

    The Lancet Commission on lessons from the COVID pandemic has called for a coordinated international response to countering misinformation.

    As part of this, it has called for more accessible, accurate information and investment in scientific literacy to protect against misinformation, including that shared across social media platforms. The World Health Organization is developing resources and recommendations for health authorities to address this “infodemic”.

    National efforts to directly tackle misinformation are vital, in combination with concerted efforts to raise health literacy. The Australian Medical Association has called on the federal government to invest in long-term online advertising to counter health misinformation and boost health literacy.

    People of all ages need to be equipped to think critically about who and where their health information comes from. With the rise of AI, this is an increasingly urgent priority.

    Many people turned to unproven treatments for COVID.
    Alina Kruk/Shutterstock

    Looking ahead

    Australian health ministers recently reaffirmed their commitment to the new Australian Centre for Disease Control (CDC).

    From a science communications perspective, the Australian CDC could provide an independent voice of evidence and consensus-based information. This is exactly what’s needed during a pandemic. But full details about the CDC’s funding and remit have been the subject of some conjecture.

    Many of our key findings on effective public health communication during COVID are not new or surprising. They reinforce what we know works from previous disease outbreaks across different places and points in time: tailored, timely, clear, consistent and accurate information.

    The rapid rise, reach and influence of misinformation and distrust in public authorities bring a new level of complexity to this picture. Countering both must become a central focus of all public health crisis communication, now and in the future.

    This article is part of a series on the next pandemic.

    Rebecca Ryan receives funding from the National Health and Medical Research Council through funding to Australian Cochrane entities, and was previously commissioned by the World Health Organization to undertake a rapid evidence review on communication for COVID-19 prevention and control (2020).

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

    – ref. How can we improve public health communication for the next pandemic? Tackling distrust and misinformation is key – https://theconversation.com/how-can-we-improve-public-health-communication-for-the-next-pandemic-tackling-distrust-and-misinformation-is-key-226718

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Return-to-office mandates may not be the solution to downtown struggles that Canadian cities are banking on

    Source: The Conversation (Au and NZ) – By Alexander Wray, PhD Candidate in Geography, Western University

    In recent months, many Canadian employers in both the public and private sectors have implemented return-to-office mandates, requiring workers that transitioned to remote or hybrid work during the COVID-19 pandemic to work in-person again.

    Employers are justifying these mandates by arguing they improve productivity, build more collaborative teams and improve mentorship for junior employees.

    Employers are not the only group ecstatic about these mandates. Municipalities and business owners are also expressing hope that the presence of office workers will spin off into greater consumer spending at restaurants and other businesses near office buildings. The expectation is that office workers will once again start spending money on coffee, lunch or after-work beverages.

    In 2022, the mayor of Ottawa partially blamed the downtown core’s economic struggles on the fact that federal public service workers were still largely working remotely. Federal workers have since been mandated to return to work in-person three days a week in late fall.

    The Canadian Federation of Independent Business similarly criticized the slow return to offices as a leading factor behind why small and medium-size businesses, especially restaurants and bars, are facing challenges in downtown areas.

    Insight into restaurant success

    During the pandemic, there were predictions that more than half of Canada’s independent restaurants would fail as part of their customer base — office workers — shifted to working from home.

    Our recent study investigated which operational, demographic and land use factors affected restaurant survival during the first year of the pandemic in London, Ont.

    We found no significant differences between restaurants that failed and restaurants that survived based on proximity to office uses. Instead, operational decisions made by restaurants individually were much more predictive of their survival than any geographic factor, including the presence of offices.

    Restaurants are seen along Richmond Street in downtown London, Ontario, in June 2021.
    (Alexander Wray), CC BY-NC-SA

    We found that restaurants located in areas receiving more CERB (Canadian Emergency Response Benefit) payments, and with a higher density of entertainment venues around them, were less likely to survive.

    Restaurants that adapted by offering pickup and delivery options were more likely to survive, though only for those that did their own delivery in-house rather than relying on platforms like UberEats and SkipTheDishes. Restaurants that had drive-thrus, held liquor licenses, or had been established for more than five years were more likely to survive. These older, more established restaurants were likely more resilient because of financial stability and customer loyalty.

    Table-service restaurants fared better than fast food outlets, likely because they could offer large patio dining spaces during the summer. Restaurants with liquor licenses substantially benefited, especially after a regulatory change by the Ontario government that allowed alcohol sales with takeout and delivery — a first for the province.

    In short, restaurant success was driven more by individual business decisions rather than being in a specific location. People working remotely instead of in the office did not significantly affect restaurant survival during the first year of the pandemic.

    Downtown struggles

    As Canadian downtowns look to recover, many face ongoing challenges. Activity levels are down by about 20 per cent from pre-pandemic levels in many places, lagging behind many similarly sized downtowns in the United States.

    This downturn has been partially attributed to a combination of higher office building vacancies and fewer workers downtown. For the first time, downtown office vacancy rates have exceeded suburban rates in the Greater Toronto Area. There has also been tremendous housing growth within many downtown cores.

    At the same time, downtowns have become a highly visible focal point of Canada’s growing addictions, mental health and housing crises. The pandemic fully revealed the deeper social, economic and health challenges happening in Canadian society.

    While violent incidents are rare, the social incivilities and disorder on display — public urination and defecation, open drug use, visible tents and property crime — contributes to a perception that Canadian downtowns are unsafe. This perception, whether accurate or not, has an impact on the willingness of people to engage with their downtowns.

    A way forward

    The damage to the reputation of Canada’s downtowns has been done. Downtown London now has the highest office vacancy rate in the country. The Workplace Safety Insurance Board of Ontario, for instance, recently chose to consolidate its offices in the outskirts of London, rather than downtown.

    Many people now elect to spend their time and money in areas that have embraced the “experience economy.” These are places that provide highly manicured entertainment and shopping destinations, with restaurants being the bedrock of enabling high quality experiences in these areas.

    Foot traffic is at an all-time high in suburban shopping centres. The downtowns of cities that are widely known as global tourist destinations — Las Vegas, Miami and Nashville — have activity levels close to or higher than their pre-pandemic levels.

    These are places that are developing highly attractive economies that provide people with the safe, fun and exciting experiences they are looking for locally and internationally. Instead of trying to force unwilling workers back to the office, Canadian cities should instead focus on developing downtowns that people genuinely want to visit and experience.

    One potential way to do this is to provide wrap-around support services and direct pathways to stable housing across the entire community, as the City of London has done. By spreading care and outreach services across the entire city, rather than concentrating them exclusively in downtown areas, the negative effects from Canada’s homelessness crisis can be reduced on urban cores.

    This type of strategy will direct those who need help away from downtowns, and may even permanently lift them out of poverty. In turn, Canadian downtowns can return to being places for everyone to shop, eat, relax, and work in comfort.

    Alexander Wray is President of the Town and Gown Association of Ontario, and a Board Member of Mainstreet London.

    Jamie Seabrook, Jason Gilliland, and Sean Doherty do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Return-to-office mandates may not be the solution to downtown struggles that Canadian cities are banking on – https://theconversation.com/return-to-office-mandates-may-not-be-the-solution-to-downtown-struggles-that-canadian-cities-are-banking-on-239682

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: How to help your child return to school after a long illness, new diagnosis or an accident

    Source: The Conversation (Au and NZ) – By Sarah Jefferson, Senior Lecturer in Education, Edith Cowan University

    It is very common for children to have a day or two away from school due to illness. But children can also miss much longer periods of schooling if they have a serious illness or injury.

    This could be a severe episode of mental illness, a diagnosis of Type 1 diabetes or in my family’s case, our youngest child being hit by a car at a pedestrian crossing, requiring months of rehab.

    After the initial shock, treatment and recovery, families then need to navigate a complex return to school – to make things as normal as possible for the student while handling their ongoing medical needs.

    How can families support their child?

    How many students are missing school?

    There are many reasons why children may need to have a significant break from school.

    At least one in every ten children under the age of 14 live with a chronic health condition.

    These conditions, which can include heart disease, diabetes and asthma, mental illness and cancers can lead to weeks or months in hospital.

    A 2018 study found 70,000 Australians under 16 are also hospitalised with a serious injury each year.

    Students can end up missing a significant amount of school due to injury or chronic illness.
    moonmovie/Shutterstock

    Come back with a plan

    We know going to school is central to children’s social and emotional wellbeing, as well as their academic progress. So getting back to school is a key part of a student’s ongoing health and wellbeing.

    The Royal Children’s Hospital Melbourne warns children can get mentally and physically tired after a long or serious illness.

    So they recommended returning to school gradually. Students may just go for half days or for a few hours initially.

    To make this as smooth as possible, parents or caregivers should meet with the school before you hope to return. This meeting should include the student if possible, relevant teachers (such as class teachers and year-level coordinators) and school nurse.

    Not all schools have a dedicated nurse. But if there is one available, they can play an important liaison role and manage a child’s medications or situation at school. If there is no nurse, make sure you include the school’s administration team.

    The meeting with the school should make a clear plan around what new support the student needs and how they will receive this. They may need changes to their uniform, timetable or where they physically go in the school. Students may also need extra time to do work, extra academic help and extra breaks.

    Families may also want to schedule regular catch-ups with the school.

    Students may not initially be able to return to school full time.
    engagestock/Shutterstock

    How is the student feeling?

    Children can be worried about not fitting in, especially if something significant has happened to them that makes them feel different from their peers. They may not want a huge fuss when they come back.

    Arranging time to talk to or see friends before they come back can help ease a student into their new routine.

    Depending on the situation, you could enlist a trusted buddy to help with bags or walk a bit more slowly with them between classes.

    Or students may get special permission to leave class a bit early to avoid crowds, or to be able to go and see the nurse without asking the teacher each time and drawing attention to themselves.

    As your child returns, make sure the focus is not just on catching up academically but catching up with friends as well. If their hours are reduced at school, try and allow for social time (such as including recess or lunch) as well as lessons.

    Your child will likely be dealing with a lot, both mentally and physically. So keep talking to them as much as possible about how they are feeling and going as they return.

    Things may have changed for them (and for you), but with time and support, school can feel like a normal part of life again.

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

    – ref. How to help your child return to school after a long illness, new diagnosis or an accident – https://theconversation.com/how-to-help-your-child-return-to-school-after-a-long-illness-new-diagnosis-or-an-accident-240012

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Economics: Burundi: Electricity from the Rusumo Falls power station, built with support from the African Development Bank, is saving the lives of hospital…

    Source: African Development Bank Group
    “One day, in the operating theatre, there was a power cut́ in the middle of a laparotomy [opening of the abdomen] for a case of pelvic peritonitis. We had to finish the operation using a torch. It was very hard.”

    MIL OSI Economics –

  • MIL-OSI: Nokia Corporation: Repurchase of own shares on 02.10.2024 – repurchases resumed following a temporary pause

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    2 October 2024 at 22:30 EET

    Nokia Corporation: Repurchase of own shares on 02.10.2024 – repurchases resumed following a temporary pause

    Espoo, Finland – As announced on 16 August 2024, Nokia’s share buybacks were paused until after the Infinera shareholders’ special meeting. The special meeting took place on 1 October 2024 as planned, and the buybacks have therefore been resumed. On 2 October 2024 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:

    Trading venue (MIC Code) Number of shares Weighted average price / share, EUR*
    XHEL 1,283,714 3.93
    CEUX 599,119 3.93
    BATE – –
    AQEU – –
    TQEX – –
    Total 1,882,833 3.93

    * Rounded to two decimals

    On 25 January 2024, Nokia announced that its Board of Directors is initiating a share buyback program to return up to EUR 600 million of cash to shareholders in tranches over a period of two years. The first phase of the share buyback program started on 20 March 2024. On 19 July 2024, Nokia decided to accelerate the share buybacks by increasing the number of shares to be repurchased during the year 2024. The post-increase repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 22 July 2024 and end by 31 December 2024 with a maximum aggregate purchase price of EUR 600 million for all purchases during 2024.

    Total cost of transactions executed on 2 October 2024 was EUR 7,404,806. After the disclosed transactions, Nokia Corporation holds 151,369,770 treasury shares.

    Details of transactions are included as an appendix to this announcement.

    On behalf of Nokia Corporation

    BofA Securities Europe SA

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

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

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

    Inquiries:

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

    Nokia Investor Relations
    Phone: +358 40 803 4080
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network –

  • MIL-OSI USA: SBA Provides Critical Disaster Assistance to Help Georgians Recover from Hurricane Helene

    Source: United States Small Business Administration

    WASHINGTON – Low-interest disaster loans from the U.S. Small Business Administration (SBA) are available to businesses and residents in Georgia following the announcement of a Presidential disaster declaration for Hurricane Helene that began on Sept. 25.

    “SBA’s mission-driven team stands ready to help small businesses and residents in Georgia impacted by this disaster in every way possible under President Biden’s disaster declaration for certain affected areas,” said SBA Administrator Isabel Casillas Guzman. “We’re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.”

    The disaster declaration covers Appling, Atkinson, Bacon, Ben Hill, Berrien, Brooks, Bulloch, Burke, Candler, Chatham, Clinch, Coffee, Colquitt, Columbia, Cook, Echols, Emanuel, Evans, Glascock, Irwin, Jeff Davis, Jefferson, Jenkins, Johnson, Lanier, Laurens, Liberty, Lincoln, Lowndes, McDuffie, Montgomery, Pierce, Richmond, Screven, Tattnall, Telfair, Toombs, Treutlen, Ware, Washington and Wheeler; which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans (EIDLs): Baldwin, Bleckley, Brantley, Bryan, Charlton, Dodge, Effingham, Elbert, Hancock, Long, McIntosh, Mitchell, Thomas, Tift, Turner, Twiggs, Warren, Wayne, Wilcox, Wilkes, Wilkinson and Worth counties in Georgia; Baker, Columbia, Hamilton, Jefferson and Madison in Florida; Aiken, Allendale, Barnwell, Edgefield, Hampton, Jasper and McCormick in South Carolina.

    Disaster survivors should not wait to settle with their insurance company before applying for a disaster loan. If a survivor does not know how much of their loss will be covered by insurance or other sources, SBA can make a low-interest disaster loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay the loan.

    Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.  

    For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.

    Disaster loans up to $500,000 are available to homeowners to repair or replace disaster-damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace disaster-damaged or destroyed personal property.

    Interest rates are as low as 4% for businesses, 3.25% for nonprofit organizations, and 2.813% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and monthly payments are not due, until 12 months from the date of the initial disbursement. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

    Building back smarter and stronger can be an effective recovery tool for future disasters. Applicants may be eligible for a loan amount increase of up to 20% of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, French drain or retaining wall to help protect property and occupants from future disasters.

    “SBA’s disaster loan program offers an important advantage–the chance to incorporate measures that can reduce the risk of future damage,” said Francisco Sánchez, Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration. “Work with contractors and mitigation professionals to strengthen your property and take advantage of the opportunity to request additional SBA disaster loan funds for these proactive improvements.” 

    With the changes to FEMA’s Sequence of Delivery, survivors are now encouraged to simultaneously apply for FEMA grants and SBA low-interest disaster loan assistance to fully recover.  FEMA grants are intended to cover necessary expenses and serious needs not paid by insurance or other sources. The SBA disaster loan program is designed for your long-term recovery, to make you whole and get you back to your pre-disaster condition.  Do not wait on the decision for a FEMA grant; apply online and receive additional disaster assistance information at sba.gov/disaster.

    Applicants may also call the SBA’s Customer Service Center at (800) 659-2955 or send an email to disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The filing deadline to return applications for physical property damage is Nov. 29, 2024. The deadline to return economic injury applications is June 30, 2025.

    ###

    About the U.S. Small Business Administration 

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit http://www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI USA: SBA Tops $60 Million in Disaster Assistance Loans for Severe Storms, Flooding, Straight-line Winds and Tornadoes

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration, announced today that SBA has approved more than $60 million in federal disaster loans for Iowabusinesses and residents impacted by severe storms, flooding, straight-line winds and tornadoes that occurred June 16–July 23. According to Sánchez, SBA has approved $10,075,000 for businesses and $49,984,200 for residents to help rebuild and recover from this disaster.

    “SBA’s disaster assistance employees are committed to helping businesses and residents rebuild as quickly as possible,” said Sánchez. Businesses and residents in Buena Vista, Cherokee, Clay, Dickinson, Emmet, Humboldt, Lyon, Monona, O’Brien, Osceola, Palo Alto, Plymouth, Pottawattamie, Scott, Sioux and Woodbury counties who sustained damages are encouraged to apply prior to the Oct. 22 deadline at SBA.gov/disaster. “Don’t miss out on any assistance you may be entitled to by not registering for help. You don’t need to wait for your insurance to settle or obtain a contractor’s estimate,” he continued.

    SBA continues to provide one-on-one assistance to disaster loan applicants at all the federal-state Disaster Recovery Centers and the SBA Business Recovery Center throughout the affected areas to explain SBA’s disaster loan program and help business owners and residents close their approved disaster loans.

    Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

    For small businesses and most private nonprofit organizations of all sizes, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage. The deadline to apply for economic injury is March 24, 2025.

    “SBA’s disaster loan program offers an important advantage–the chance to incorporate measures that can reduce the risk of future damage,” Sánchez added. “Work with contractors and mitigation professionals to strengthen your property and take advantage of the opportunity to request additional SBA disaster loan funds for these proactive improvements.”

    Disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.

    Interest rates can be as low as 4 percent for businesses, 3.25 percent for private nonprofit organizations and 2.688 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

    Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.

    Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit http://www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Federated Farmers demand fairer debt solutions

    Source: Federated Farmers

    More than one in five Kiwi farmers say their bank isn’t allowing them to structure their debt in the most interest-efficient way.
    That’s a key finding put forward by Federated Farmers in its recent submission to Parliament’s banking inquiry.
    “New Zealand farmers are clearly under huge pressure from the banks because we had more than 1000 farmers come forward to share their frustrations with us,” Federated Farmers banking spokesperson Richard McIntyre says.
    “We’ve used that feedback in our submission, leaving the select committee in no doubt about what farmers are dealing with and how banking issues are affecting them.”
    McIntyre says it’s highly concerning to hear so many farmers (22%) haven’t been allowed to structure their debt to minimise interest payments as much as possible.
    “We also had another 18% of farmers tell us they’re unsure of their options.
    “In total, 40% of farmers either find their debt structure inefficient or aren’t receiving the information they need to improve it.
    “That’s something we need this inquiry to sort out – and fast.”
    McIntyre says another recurring theme in feedback from farmers is the lack of transparency and the one-size-fits-all approach banks take to lending.
    One significant issue is the pressure farmers feel to use overdrafts to manage debt repayments or fund capital projects – tasks overdrafts were never intended for.
    In fact, 12% of farmers say their bank has asked them to fund capital work using an overdraft.
    “This is unacceptable,” McIntyre says.
    “Overdrafts are designed for managing seasonal cash flow, not to burden farmers with higher-interest debt, which only serves to boost bank profits.”
    He says many farmers are stuck in overdraft facilities that never return to positive balances, with banks reluctant to offer more sustainable solutions.
    This creates a cycle of high-interest debt, leaving farmers financially strained over the long term.
    “This isn’t just bad practice – it’s bad faith,” McIntyre says.
    “Banks are prioritising profits over the long-term financial health of New Zealand’s farmers.”
    He emphasises that overdrafts should be a tool, not a trap.
    Farmers have reported that, even when it makes good business sense, they’re unable to convert overdraft debt into term debt.
    “The advantage for the bank is that overdrafts generate higher interest, and banks can call in the debt at any time,” McIntyre says.
    “This practice leaves farmers vulnerable, with overdraft rates often 3-4% higher than term debt.”
    Federated Farmers is calling for banks to provide fair access to more efficient debt structures, particularly term debt, which would allow farmers to plan for the long term.
    “Farmers aren’t asking for special treatment,” McIntyre says. “We just want a fair go.”
    Federated Farmers has been instrumental in securing an initial briefing on rural banking, led by the Primary Production Committee.
    This has now developed into a full inquiry into banking competition, led by Parliament’s Finance and Expenditure Committee.
    Federated Farmers will ensure farmers’ perspectives are taken seriously, pushing for real changes in New Zealand’s banking system, McIntyre says.
    He says Federated Farmers is incredibly grateful to the thousands of farmers who shared their experiences as part of the submission process.
    “Farmers want change, and they’ve added significant weight to our submission.
    “Their voices are the backbone of this submission, and they’ve given us the momentum we need to keep pushing for real solutions.”
    Federated Farmers is now preparing to present its oral submission to Parliament.
    “We’re not just here to highlight the problems,” McIntyre says. “We’re here to advocate for real solutions that will make a difference for every farmer in New Zealand.”
    “We’re 100% committed to ensuring the banking inquiry delivers meaningful change for rural banking.
    “We won’t stop until every farmer has access to banking that is fair, efficient, and on our terms.”

    MIL OSI New Zealand News –

  • MIL-OSI USA: Amata Welcomes House Colleagues and Key Senators in American Samoa

    Source: United States House of Representatives – Congresswoman Aumua Amata (Western Samoa)

    Washington, D.C. – Congresswoman Uifa’atali Amatatook part in welcoming key U.S. Senators and her House colleagues as their Congressional Delegation (CODEL) on a U.S. Air Force flight landed in American Samoa, as did Governor Lemanu P.S. Mauga. The bipartisan CODEL included Chairman Joe Manchin of West Virginia, Senator Lisa Murkowski of Alaska, and two of Amata’s House colleagues, also on influential committees: Congressman Wiley Nickel North Carolina, Finance Committee; and Congressman Greg Pence of Indiana, Energy and Commerce Committee.

    CODEL group photo

    Amata’s bill, H.R. 6062, which expedites American Samoa’s amendments as already approved by the people, is in line for consideration before the same Committee on which Chairman Manchin presides and Sen. Murkowski is a senior senator. Amata spoke to Chairman Manchin about it, and Amata’s House-passed bill is expected to be in front of the Senate Committee on Energy and Natural Resources in mid-November, once Congress has resumed, as it has been examined already by a Senate Subcommittee and is moving forward as a noncontroversial bill.

    CODEL in American Samoa with Governor Lemanu Mauga and Congresswoman Uifa’atali Amata

    “I also discussed 30a (the American Samoa Economic Development Credit) with Chairman Manchin and Senator Murkowski,” said Congresswoman Aumua Amata. “It’s a crucial tax extender for American Samoa that needs to be extended again. It primarily benefits the cannery but can be used for other businesses.  We need the credit to attract those other businesses besides tuna. The 30a extender is important for the Starkist cannery, which is at full employment of 2500, and supports an equal number or more of indirect jobs. House Ways and Means Chairman Smith is supportive of the credit, but we will need help in the Senate as usual.”

    CODEL enjoyed their time in American Samoa

    “It’s a delight to have these Senators and House colleagues see glimpses of American Samoa’s mountain and ocean beauty from the air and our airport,” she continued. “When I speak with senior Senators and Representatives in Washington, I find without fail that they are genuinely interested, and truly want to be helpful and supportive to American Samoa, and they also understand that we aren’t directly represented in the U.S. Senate. I know they enjoyed the tokens of appreciation that both I and Governor Lemanu Mauga were able to present so they’d have a memory of the people of American Samoa.”

    “I take every opportunity to raise key issues for American Samoa with relevant Members of Congress, especially when our issues are under the jurisdiction of their committees,” she concluded. “I appreciate Chairman Manchin’s effective leadership in the Senate, and I’ve traveled on a CODEL with my friend Senator Murkowski before, and she’s been a good friend of our islands while representing Alaska.”

    ###

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Apprentice Store Are On The Move

    Source: Scotland – Highland Council

    Managing Director David Massie pictured with Hagen Wagner, Highland Opportunity (Investments) Limited Investment Manager

    Highland Opportunity (Investments) Limited (HOIL) has recently provided The Apprentice Store Ltd with funding towards their ambitious business development. HOIL, The Highland Council’s business loan company, supports Highland based businesses and encourages applications from all business sectors, including community organisations. Interested businesses benefit from straightforward loan conditions and a tailored offer to support their project.  HOIL has financially supported more than 1,200 local start-up businesses, community organisations and growth projects within the Highland Business community since it was established in 1986.

    The Apprentice Store approached HO(IL) for a working capital loan of £25,000 to help achieve their growth aspirations.  Currently based in the Impact Hub in Castle Street, they are about to relocate to larger premises in Academy Street, where they will be the flag ship tenant of an innovative, vibrant and friendly co-working space in the centre of Inverness.

    The Apprentice Store was founded in 2016 and have a unique setup, whereby they support employment of young people and inclusivity on an apprenticeship basis, led by a number of mentors. To date, the company has trained and employed more than 23 young people. The business understands how important computer systems are in a modern business. From their Scottish base in Inverness they offer a range of quality remote IT services for small and medium sized businesses throughout the United Kingdom and Europe. 

    Councillor Paul Oldham, Chair of HOIL said: “The Apprentice Store’s way of working, that encourages young people to work in IT while staying in the Highlands rather than feeling they have to move away, has got to be good news for the Highland economy.

     “HOIL’s accessible and affordable business finance helps promote business across the area. It’s an important part of the Council’s aim to keep business vibrant and growing in the Highlands.”

    David Massie, Managing Director of the Apprentice Store Limited said: “The Apprentice Store approached HOIL to secure some funding and found the application process quick and easy to complete. This funding will help our social purpose of creating sustainable employment to young people who have challenges of entering the workforce. Our clients from across the UK in the public, private and sectors help support continuous employment by outsourcing their IT services to The Apprentice Store. Our team return on our client’s commitment by offering quality IT support and development services as they care about the opportunity offered to them by The Apprentice Store and its clients.”

    MIL OSI United Kingdom –

  • MIL-OSI: PennantPark Floating Rate Capital Ltd. Announces Monthly Distribution of $0.1025 per Share

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Oct. 02, 2024 (GLOBE NEWSWIRE) — PennantPark Floating Rate Capital Ltd. (the “Company”) (NYSE: PFLT) declares its monthly distribution for October 2024 of $0.1025 per share, payable on November 1, 2024 to stockholders of record as of October 16, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company’s periodic report filed with the Securities and Exchange Commission.

    The Company, which operates as a regulated investment company (“RIC”), generates qualified interest income and short-term capital gains that may be exempt from U.S. withholding tax when distributed to non-U.S. stockholders. The U.S. tax law permits a RIC to report the portion of distributions paid that represents interest-related dividends as exempt from U.S. withholding tax when paid to non-U.S. stockholders with proper documentation.

    The specific tax characteristics of this distribution can be found on our website http://www.pennantpark.com.

    ABOUT PENNANTPARK FLOATING RATE CAPITAL LTD.

    PennantPark Floating Rate Capital Ltd. is a business development company which primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans, including first lien secured debt, second lien secured debt and subordinated debt. From time to time, the Company may also invest in equity investments. PennantPark Floating Rate Capital Ltd. is managed by PennantPark Investment Advisers, LLC.

    ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC

    PennantPark Investment Advisers, LLC is a leading middle market credit platform, managing $8.0 billion of investable capital, including potential leverage. Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors access to middle market credit by offering private equity firms and their portfolio companies as well as other middle-market borrowers a comprehensive range of creative and flexible financing solutions. PennantPark Investment Advisers, LLC is headquartered in Miami and has offices in New York, Chicago, Houston, Los Angeles and Amsterdam.

    FORWARD-LOOKING STATEMENTS

    This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You should understand that under Section 27A(b)(2)(B) of the Securities Act and Section 21E(b)(2)(B) of the Exchange Act the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 do not apply to forward-looking statements made in periodic reports PennantPark Floating Rate Capital Ltd. files under the Exchange Act. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. PennantPark Floating Rate Capital Ltd. undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made.

    The information contained herein is based on current tax laws, which may change in the future. The Company cannot be held responsible for any direct or incidental loss resulting from applying any of the information provided in this publication or from any other source mentioned. The information provided in this material does not constitute any specific legal, tax or accounting advice. Please consult with qualified professionals for this type of advice.

    CONTACT:
    Richard T. Allorto, Jr.
    PennantPark Floating Rate Capital Ltd.
    (212) 905-1000
    http://www.pennantpark.com

    The MIL Network –

  • MIL-OSI: QCR Holdings, Inc. to Report Third Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    MOLINE, Ill., Oct. 02, 2024 (GLOBE NEWSWIRE) — QCR Holdings, Inc. (NASDAQ: QCRH) (“QCRH” or the “Company”) announced today that its third quarter ended September 30, 2024 financial results will be released after the market closes on Wednesday, October 23, 2024. The Company will host a conference call and webcast the next day, Thursday, October 24, 2024, at 10:00 a.m. Central Time to discuss the results. Shareholders, analysts, and other interested parties are invited to join.

    Teleconference: 

    Dial-in information for the call is 888-346-9286 (international 412-317-5253). Participants should request to join the QCR Holdings, Inc. call. The event will be archived and available for replay through October 31, 2024. The replay access information is 877-344-7529 (international 412-317-0088); access code 4892655.

    Webcast: 

    A webcast of the teleconference can be accessed at the Company’s News and Events page at http://www.qcrh.com. An archived version of the webcast will be available at the same location shortly after the live event has ended.

    About QCR Holdings, Inc.

    QCR Holdings, Inc., headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company serving the Quad Cities, Cedar Rapids, Cedar Valley, Des Moines/Ankeny and Springfield communities through its wholly owned subsidiary banks. The banks provide full-service commercial and consumer banking and trust and wealth management services. Quad City Bank & Trust Company, based in Bettendorf, Iowa, commenced operations in 1994, Cedar Rapids Bank & Trust Company, based in Cedar Rapids, Iowa, commenced operations in 2001, Community State Bank, based in Ankeny, Iowa, was acquired by the Company in 2016, Springfield First Community Bank, based in Springfield, Missouri, was acquired by the Company in 2018, and Guaranty Bank, also based in Springfield, Missouri, was acquired by the Company and merged with Springfield First Community Bank in 2022, with the combined entity operating under the Guaranty Bank name. Additionally, the Company serves the Waterloo/Cedar Falls, Iowa community through Community Bank & Trust, a division of Cedar Rapids Bank & Trust Company. The Company has 36 locations in Iowa, Missouri, Wisconsin and Illinois. As of June 30, 2024, the Company had $8.9 billion in assets, $6.9 billion in loans and $6.8 billion in deposits. For additional information, please visit the Company’s website at http://www.qcrh.com.

    Contacts:

    Todd A. Gipple                                        
    President                                        
    Chief Financial Officer                                
    (309) 743-7745                                        
    tgipple@qcrh.com                                

    The MIL Network –

  • MIL-OSI: Apollo to Provide €1 Billion Capital Solution to Vonovia in Third Transaction

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 02, 2024 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that it has entered into an agreement for Apollo affiliates and other long term investors to provide c. €1 billion to acquire a minority stake in one of Vonovia’s affiliates. This commitment follows two previous €1 billion transactions between Vonovia and Apollo in 2023, related to Vonovia’s real estate portfolios in Southwest Germany and Northern Germany. The latest agreement brings Apollo affiliates and funds total arranged commitments to Vonovia entities to €3 billion.

    Apollo Partner Jamshid Ehsani said, “Apollo is very pleased to further expand our partnership with Vonovia and assist Germany’s largest residential real estate company in reaching its strategic objectives. It is yet another example of Apollo’s ability to commit its capital resources and provide bespoke, scaled solutions to our closest corporate relationships around the world. This investment marks our third transaction with Vonovia and underscores Apollo’s role as an ongoing trusted partner to some of the largest global corporations.”

    Since 2020, under its High Grade Capital Solutions strategy Apollo has originated nearly $100 billion of bespoke capital solutions for leading companies such as Intel, Sony, Air France, AB InBev and more. Apollo believes it is uniquely positioned to serve the needs of large high quality corporates and retirement services companies, given the firm’s structuring, investment and syndication capabilities and scaled capital base.

    Latham & Watkins LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are serving as legal counsel to Apollo, while Apollo Capital Solution is providing structuring and syndication services in connection with the transaction. Deutsche Bank is acting as exclusive financial advisor to Vonovia, and Freshfields Bruckhaus Deringer is serving as legal counsel to Vonovia.

    About Apollo

    Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2024, Apollo had approximately $696 billion of assets under management. To learn more, please visit http://www.apollo.com.

    Apollo Contacts

    Noah Gunn
    Global Head of Investor Relations
    Apollo Global Management, Inc.
    (212) 822-0540
    IR@apollo.com

    Joanna Rose
    Global Head of Corporate Communications
    Apollo Global Management, Inc.
    (212) 822-0491
    Communications@apollo.com

    The MIL Network –

  • MIL-OSI: PennantPark Investment Corporation Announces Monthly Distribution of $0.08 per Share

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Oct. 02, 2024 (GLOBE NEWSWIRE) — PennantPark Investment Corporation (the “Company”) (NYSE: PNNT) declares its monthly distribution for October 2024 of $0.08 per share, payable on November 1, 2024 to stockholders of record as of October 16, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company’s periodic report filed with the Securities and Exchange Commission.

    ABOUT PENNANTPARK INVESTMENT CORPORATION

    PennantPark Investment Corporation is a business development company which primarily invests in U.S. middle-market private companies in the form of first lien secured debt, second lien secured debt, subordinated debt and equity investments. PennantPark Investment Corporation is managed by PennantPark Investment Advisers, LLC.

    ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC

    PennantPark Investment Advisers, LLC is a leading middle market credit platform, managing $8.0 billion of investable capital, including available leverage. Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors access to middle market credit by offering private equity firms and their portfolio companies as well as other middle-market borrowers a comprehensive range of creative and flexible financing solutions. PennantPark Investment Advisers, LLC is headquartered in Miami and has offices in New York, Chicago, Houston, Los Angeles and Amsterdam.

    FORWARD-LOOKING STATEMENTS

    This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You should understand that under Section 27A(b)(2)(B) of the Securities Act and Section 21E(b)(2)(B) of the Exchange Act the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 do not apply to forward-looking statements made in periodic reports PennantPark Investment Corporation files under the Exchange Act. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. PennantPark Investment Corporation undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made.

    CONTACT:
    Richard T. Allorto, Jr.
    PennantPark Investment Corporation
    (212) 905-1000
    http://www.pennantpark.com

    The MIL Network –

  • MIL-OSI: Mulvihill Premium Yield Fund Declares Monthly Fund Distribution for Its ETF Class

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 02, 2024 (GLOBE NEWSWIRE) — (TSX: MPY) Mulvihill Premium Yield Fund has declared a monthly cash distribution for its ETF Class in the amount of $0.05417 per unit, payable on November 7, 2024 to unitholders of record on October 31, 2024.

    For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at info@mulvihill.com or visit http://www.mulvihill.com.

    John Germain, Senior Vice-President & CFO       Mulvihill Capital Management Inc.
    121 King Street West
    Suite 2600
    Toronto, Ontario, M5H 3T9
         

    Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

    The MIL Network –

  • MIL-OSI: MidCap Financial Investment Corporation Schedules Earnings Release and Conference Call for Quarter Ended September 30, 2024

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 02, 2024 (GLOBE NEWSWIRE) — MidCap Financial Investment Corporation (NASDAQ: MFIC) (the “Company”) announced today that it will report results for the quarter ended September 30, 2024, prior to the opening of the Nasdaq Global Select Market on Thursday, November 7, 2024.

    The Company will also host a conference call on Thursday, November 7, 2024, at 8:30 a.m. Eastern Time. All interested parties are welcome to participate in the conference call by dialing (800) 343-4136 approximately 5-10 minutes prior to the call; international callers should dial (203) 518-9843. Participants should reference either MidCap Financial Investment Corporation Earnings or Conference ID: MFIC1107 when prompted. A simultaneous webcast of the conference call will be available to the public on a listen-only basis and can be accessed through the Events Calendar in the Shareholders section of our website at http://www.midcapfinancialic.com. Following the call, you may access a replay of the event either telephonically or via audio webcast. The telephonic replay will be available approximately two hours after the live call and through November 28, 2024, by dialing (800) 839-6911; international callers should dial (402) 220-6059. A replay of the audio webcast will also be available later that same day. To access the audio webcast please visit the Events Calendar in the Shareholders section of our website at http://www.midcapfinancialic.com.

    About MidCap Financial Investment Corporation

    MidCap Financial Investment Corporation (NASDAQ: MFIC) is a closed-end, externally managed, diversified management investment company that has elected to be treated as a business development company (“BDC”) under the Investment Company Act of 1940 (the “1940 Act”). For tax purposes, the Company has elected to be treated as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). The Company is externally managed by Apollo Investment Management, L.P., an affiliate of Apollo Global Management, Inc. and its consolidated subsidiaries, a high-growth global alternative asset manager. The Company’s investment objective is to generate current income and, to a lesser extent, long-term capital appreciation. The Company primarily invests in directly originated and privately negotiated first lien senior secured loans to privately held U.S. middle-market companies, which the Company generally defines as companies with less than $75 million in EBITDA, as may be adjusted for market disruptions, mergers and acquisitions-related charges and synergies, and other items. To a lesser extent, the Company may invest in other types of securities including, first lien unitranche, second lien senior secured, unsecured, subordinated, and mezzanine loans, and equities in both private and public middle market companies. For more information, please visit http://www.midcapfinancialic.com.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, including, but not limited to, statements as to our future operating results; our business prospects and the prospects of our portfolio companies; the impact of investments that we expect to make; our contractual arrangements and relationships with third parties; the dependence of our future success on the general economy and its impact on the industries in which we invest; the ability of our portfolio companies to achieve their objectives; our expected financings and investments; the adequacy of our cash resources and working capital; and the timing of cash flows, if any, from the operations of our portfolio companies.

    We may use words such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may” and similar expressions to identify forward-looking statements. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. Statements regarding the following subjects, among others, may be forward-looking: the return on equity; the yield on investments; the ability to borrow to finance assets; new strategic initiatives; the ability to reposition the investment portfolio; the market outlook; future investment activity; and risks associated with investing in real estate assets, including changes in business conditions and the general economy. Undue reliance should not be placed on such forward-looking statements as such statements speak only as of the date on which they are made. We do not undertake to update our forward-looking statements unless required by law.

    Contact

    Elizabeth Besen
    Investor Relations Manager
    MidCap Financial Investment Corporation
    (212) 822-0625
    ebesen@apollo.com

    The MIL Network –

  • MIL-OSI: Premium Income Corporation Announces Quarterly Distribution

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 02, 2024 (GLOBE NEWSWIRE) — (TSX: PIC.A; PIC.PR.A) Premium Income Corporation has declared quarterly distributions payable on October 31, 2024 to shareholders of record on October 15, 2024 in the following amounts per share:

    Share Class Ticker Amount Per Share
    Class A Shares PIC.A $0.20319
    Preferred Shares PIC.PR.A $0.215625
         

    To the extent that any portion of the distributions are ordinary taxable dividends and not capital gains dividends, they will be eligible dividends.

    For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at info@mulvihill.com or visit http://www.mulvihill.com

       
    John Germain, Senior Vice-President & CFO Mulvihill Capital Management Inc.
    121 King Street West
    Suite 2600
    Toronto, Ontario, M5H 3T9
       

    Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

    The MIL Network –

  • MIL-OSI: Premium Global Income Split Corp. Declares Monthly Distribution

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 02, 2024 (GLOBE NEWSWIRE) — (TSX: PGIC; PGIC.PR.A) Premium Global Income Split Corp. has declared monthly distributions payable on October 31, 2024 to shareholders of record on October 15, 2024 in the following amounts per share:

    Share Class Ticker Amount Per Share
    Class A Shares PGIC $0.08000
    Preferred Shares PGIC.PR.A $0.06250
         

    To the extent that any portions of the distributions are ordinary taxable dividends and not capital gain dividends, they are eligible dividends.

    For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at info@mulvihill.com or visit http://www.mulvihill.com.

    John Germain, Senior Vice-President & CFO Mulvihill Capital Management Inc.
    121 King Street West Suite 2600
    Toronto, Ontario M5H 3T9
       

    Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

    The MIL Network –

  • MIL-OSI: Mulvihill U.S. Health Care Enhanced Yield ETF Declares Monthly Distribution

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 02, 2024 (GLOBE NEWSWIRE) — (TSX: XLVE) Mulvihill U.S. Health Care Enhanced Yield ETF has declared a monthly cash distribution in the amount of $0.058333 per unit, payable on November 7, 2024 to unitholders of record on October 31, 2024.

    For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at info@mulvihill.com or visit http://www.mulvihill.com.

    John Germain, Senior VP & CFO Mulvihill Capital Management Inc.
      121 King Street West
      Suite 2600
      Toronto, Ontario, M5H 3T9
       

    Commissions, trailing commissions, management fees and expenses all may be associated with exchange traded funds (ETFs). Please read the prospectus before investing. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated. There are risks involved with investing in ETFs. Please read the prospectus for a complete description of risks relevant to ETFs. Investors may incur customary brokerage commissions in buying or selling ETFs.

    The MIL Network –

  • MIL-OSI: Business First Bancshares, Inc. Announces Third Quarter 2024 Earnings Release Date and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    BATON ROUGE, La., Oct. 02, 2024 (GLOBE NEWSWIRE) — Business First Bancshares, Inc. (Nasdaq: BFST), the parent company of b1BANK, announced that it is scheduled to release third quarter 2024 earnings after market close on Thursday, Oct. 24, 2024. Executive management will host a conference call and webcast to discuss results on the same day (Thursday, Oct. 24, 2024) at 4:00 p.m. CDT.

    Interested parties may attend the call by dialing toll-free 1-800-715-9871 (North America only), conference ID 5274174, or asking for the Business First Bancshares, Inc. conference call.

    The live webcast can be found at https://edge.media-server.com/mmc/p/a2ui6eo8. On the day of the presentation, the corresponding slide presentation will be available to view on the b1BANK website at https://www.b1bank.com/shareholder-info.

    About Business First Bancshares, Inc.

    As of June 30, 2024, Business First Bancshares, Inc., (Nasdaq: BFST) through its banking subsidiary b1BANK, had approximately $7.6 billion in assets, $6.1 billion in assets under management through b1BANK’s affiliate Smith Shellnut Wilson, LLC (SSW) (excludes $0.9 billion of b1BANK assets managed by SSW) and operates Banking Centers and Loan Production Offices in markets across Louisiana and the Dallas and Houston, Texas areas, providing commercial and personal banking products and services. Commercial banking services include commercial loans and letters of credit, working capital lines and equipment financing, and treasury management services. b1BANK was awarded #1 Best-In-State Bank, Louisiana, by Forbes and Statista, and is a multiyear winner of American Banker’s “Best Banks to Work For.” Visit b1BANK.com for more information.

    Misty Albrecht
    b1BANK
    225.286.7879
    Misty.Albrecht@b1BANK.com

    The MIL Network –

  • MIL-OSI USA: Federal Award Empowers Semiconductor Supply Chain

    Source: US State of New York

    Governor Kathy Hochul today celebrated a federal award from the U.S. Department of the Treasury for the Semiconductor Growth Access Program (SGAP), a new State-run initiative that will help existing Upstate businesses pivot or expand into New York’s booming semiconductor supply chain ecosystem. The U.S. Department of the Treasury awarded New York State $9.45 million, with a match of $1.5 million from Empire State Development (ESD), to implement the program through the Treasury’s Small Business Opportunity Program (SBOP) under the State Small Business Credit Initiative (SSBCI). SGAP will provide dedicated legal, financial, business planning and accounting technical assistance to targeted businesses to help them plan for growth and access capital to facilitate necessary upgrades and expansions. The program will cover the I-90 corridor from Western New York to the Capital Region and will be administered by ESD in partnership with Mohawk Valley Economic Development Growth Enterprises Corporation (EDGE), the Capital Region Center for Economic Growth (CEG), and the NY SMART-I Corridor Tech Hub. To date, SSBCI has been awarded to states on a formula basis, and this is the first time the federal government has made the process competitive.

    “New York has become a global leader in high-tech manufacturing – and we’re just getting started,” Governor Hochul said. “This $9.4 million investment from the State Small Business Credit Initiative will be critical as we work to connect underserved and very small businesses with the resources they need to succeed. Working with the Biden-Harris Administration, we’re creating even more jobs and opportunities for all New Yorkers.”

    U.S. Deputy Secretary of the Treasury Wally Adeyemo said, “The Biden-Harris Administration’s economic agenda is driving historic investments, creating new opportunities for small businesses to grow and hire. With this funding, New York will help entrepreneurs across the state access capital and scale their operations in these critical industries that are key to strengthening our supply chains and national security.”

    SGAP will deliver high-quality, tailored support to strengthen the regional semiconductor and microelectronics manufacturing supply chain, while empowering diverse New York businesses to access lucrative opportunities in upstate New York’s booming semiconductor ecosystem through technical assistance programs that provide legal, accounting, and financial services. The program builds on state, federal, local, and private sector programs and resources to build a more inclusive Upstate semiconductor manufacturing ecosystem.

    The program will bring together three key partners spanning New York’s I-90 corridor to deliver critical assistance to local small or disadvantaged businesses in underserved communities that can support successful implementation of CHIPS and Science Act investments – the NY SMART I-Corridor Tech Hub, Mohawk Valley EDGE and CEG. SGAP builds on the Supply Chain Activation Network (SCAN), a core component of the federally designated NY SMART I-Corridor Tech Hub aimed at supporting local firms to enter the rapidly expanding semiconductor and microelectronics market.

    With over $112 billion in new capital investments announced, New York State is leading the nation in new semiconductor investments. The main drivers of this growth, Micron in Central New York and GlobalFoundries in the Capital Region, will spend billions in operating expenses and have pledged to achieve significant supplier diversity goals. These investments represent a once-in-a-generation opportunity to lift up New Yorkers from communities that have historically been left out of economic growth. SGAP will empower Very Small Businesses (VSBs) and underserved businesses to seize this unique opportunity and grow or pivot into New York’s chip industry, ensuring a shared prosperity in Upstate New York.

    Governor Hochul’s Commitment to Growing New York’s Semiconductor Industry
    Governor Hochul has maintained a strong commitment to building a modern economy in New York State by growing a dynamic and innovative semiconductor industry. In 2022, the Governor signed New York’s historic Green CHIPS legislation to make New York a hub for semiconductor manufacturing, creating 21st century jobs and kick-starting economic growth while maintaining important environmental protections. As part of the FY24 Enacted Budget, Governor Hochul secured a $45 million investment to create the Governor’s Office of Semiconductor Expansion, Management, and Integration (GO-SEMI), which leads statewide efforts to develop the chipmaking sector. In December 2023, Governor Hochul announced a $10 billion public-private partnership – including $9 billion in private investment from IBM, Micron, Applied Materials, Tokyo Electron and other semiconductor leaders – to bring the future of advanced semiconductor research to New York’s Capital region by creating the nation’s first and only industry accessible, High NA EUV Lithography Center at the Albany NanoTech Complex. All of these efforts are positioning New York as an innovation leader ready to support one of three National Semiconductor Technology Center facilities that will be established under the U.S. CHIPS & Science Act.

    New York is home to a robust semiconductor industry which supports more than 150 semiconductor and supply chain companies that employ over 34,000 New Yorkers. Thanks to Governor Hochul’s efforts, the industry is continuing to grow with major investments from semiconductor businesses and supply chain companies like Micron, GlobalFoundries, AMD, Edwards Vacuum, MenloMicro and TTM Technologies to expand their presence in New York. In fact, in the last two years, chip companies have announced over $112 billion in planned capital investments in New York – more than any other state – and one in four U.S. made chips will be produced within 350 miles of Upstate New York. No other region in the country will account for a greater share of domestic production.

    Semiconductors are vital to the nation’s economic strength, serving as the brains of modern electronics, and enabling technologies critical to U.S. economic growth, national security, and global competitiveness. The industry directly employs over 300,000 people in the U.S. and supports more than 1.8 million additional domestic jobs. Semiconductors are a top five U.S. export, and the industry is the number one contributor to labor productivity, supporting improvements to the effectiveness and efficiency of virtually every economic sector – from farming to manufacturing.

    Empire State Development President, CEO and Commissioner Hope Knight said, “Under Governor Hochul, New York is leading the nation in new semiconductor industry investment, and now, with additional federal support, we are poised to further scale up the state’s broader billion-dollar advanced manufacturing ecosystem. US Treasury’s award enables ESD to expand the economic opportunities created by Upstate’s booming semiconductor sector to small businesses in underserved communities through our innovative Semiconductor Growth Access Program, which offers critical capital access and technical assistance so entrepreneurs can focus on the important work growing their businesses and creating jobs.”

    Senate Majority Leader Chuck Schumer said, “This major $9.4 million in federal funding will help provide critical technical assistance to small businesses across Upstate NY who want to grow in the semiconductor industry but can’t do it alone. This is how we maximize the benefit of companies like Micron, GlobalFoundries, and Wolfspeed’s expansions in Upstate NY, helping existing businesses grow and adapt to lead in the next frontier of technology. This will help boost efforts along the I-90 Tech Hub I secured and help Upstate NY build a robust supply chain from Buffalo to Utica to Albany that further positions Upstate NY as a global center for chip manufacturing. I fought to secure historic funding for the State Small Business Credit Initiative in the American Rescue Plan and urged Secretary Yellen to prioritize funding for supply chain development, including in the semiconductor industry, because I know that support for small businesses is critical to our efforts to bringing manufacturing back home to America. Today’s federal investment further supercharges Upstate NY’s growing semiconductor superhighway!”

    Senator Kirsten Gillibrand said, “This federal award will be transformative for small and underserved businesses across New York. It will strengthen our economy and cement New York’s reputation as a global leader in semiconductor manufacturing and innovation. I’m proud to have fought to pass the American Rescue Plan that provided the funds to make this grant possible, and I’ll continue working for federal investments that support small businesses, create good jobs, and develop our workforce.”

    State Senate Majority Leader Andrea Stewart-Cousins said, “This federal award reflects New York’s leading role in the growing national semiconductor industry. This $9.45 investment will be a boost to New York’s local small businesses as it will help entrepreneurs in underserved communities access opportunities to grow within the semiconductor supply chain. This award is recognition of our robust efforts to ensure that the Empire State remains at the forefront of technological innovation. I want to thank Governor Kathy Hochul for her leadership in fostering entrepreneurship and technological advancement across the State.”

    Assembly Speaker Carl Heastie said, “This award helps to secure New York’s position as the domestic epicenter of semiconductor manufacturing. But as we build New York’s future, we must ensure that the impact of this investment spreads across all our communities. By expanding manufacturing and technical program access to small businesses, we’re ensuring that everyone has the opportunity to benefit from the continued growth of the industry.”

    About State Small Business Credit Initiative

    More than $500 million in federal funding has been allocated to support the resurgence of small businesses across New York State through the State Small Business Credit Initiative (SSBCI), a program through the American Rescue Plan Act. Managed by the U.S. Department of Treasury, SSBCI provides funds to support programs for small businesses, including underserved businesses and very small businesses (VSB), to recover from the economic effects of COVID-19 and allow them the opportunity to succeed in the post-pandemic economy. With this funding, Empire State Development (ESD) has developed a suite of capital access and equity programs to help New York State small businesses grow and succeed. Learn about the SSBCI programs that Empire State Development has established.

    About Empire State Development

    Empire State Development is New York’s chief economic development agency, and promotes business growth, job creation, and greater economic opportunity throughout the state. With offices in each of the state’s 10 regions, ESD oversees the Regional Economic Development Councils, supports broadband equity through the ConnectALL office, and is growing the workforce of tomorrow through the Office of Strategic Workforce Development. The agency engages with emerging and next generation industries like clean energy and semiconductor manufacturing looking to grow in New York State, operates a network of assistance centers to help small businesses grow and succeed, and promotes the state’s world class tourism destinations through I LOVE NY. For more information, please visit esd.ny.gov, and connect with ESD on LinkedIn, Facebook and X.

    MIL OSI USA News –

  • MIL-OSI USA: Governor Lamont Announces FEMA Opens Disaster Recovery Centers in Southbury and Wilton To Provide In-Person Assistance With Applying for Federal Aid From August Flooding

    Source: US State of Connecticut

    (HARTFORD, CT) – Governor Ned Lamont today announced that the Federal Emergency Management Agency (FEMA) has opened two Disaster Recovery Centers in Southbury and Wilton that are providing in-person assistance to homeowners, renters, businesses, and private nonprofits seeking to apply for federal disaster aid for damages incurred due to the severe flooding the western portion of Connecticut experienced on August 18, 2024.

    Located at Southbury Town Hall (501 Main Street South, Southbury) and Our Lady of Fatima Church (229 Danbury Road, Wilton), these Disaster Recovery Centers are open Mondays to Fridays from 8:00 a.m. to 6:00 p.m., Saturdays from 8:00 a.m. to 4:00 p.m., and Sundays from 10:00 a.m. to 2:00 p.m. Anyone who lives in any town impacted by the flooding from the August 18 storm can visit either of these centers to seek assistance with applying for aid.

    “In addition to being able to apply online and over the phone, these FEMA Disaster Recovery Centers are providing in-person support to homeowners, renters, businesses, and private nonprofits seeking federal disaster aid from the horrible flooding western Connecticut experienced in August,” Governor Lamont said. “It is strongly encouraged that anyone seeking assistance should apply as soon as possible to meet all federal deadlines.”

    The FEMA Disaster Recovery Centers are staffed by representatives who can provide program information, explain how to apply for federal disaster aid, answer questions, and also provide information about repairs and rebuilding to make homes more disaster resistant.

    The centers are accessible to people with disabilities and access and functional needs. The facilities are equipped with assistive technology equipment that allows disaster survivors to interact with staff. Services are provided in English and Spanish. Anyone needing a reasonable accommodation or a sign language interpreter to communicate with FEMA should call 1-833-285-7448 for assistance.

    It is not required to visit a FEMA Disaster Recovery Center to apply for federal disaster aid. Applications can also be completed online at http://www.DisasterAssistance.gov, by calling the FEMA Helpline at 1-800-621-3362, or by using the FEMA app.

    The opening of these FEMA Disaster Recovery Centers in Southbury and Wilton come in addition to the recent openings of two Business Recovery Centers located in Monroe and Oxford that are operated by the U.S. Small Business Administration (SBA) and providing similar in-person assistance to businesses and homeowners.

    This federal disaster aid is made possible by the major disaster declaration President Joe Biden approved last month for the FEMA Individual Assistance Program in Fairfield County, Litchfield County, and New Haven County.

     

    Locations in Connecticut to apply for federal disaster aid from August 18 storm

    There are now four locations in Connecticut that are providing individuals with in-person assistance in applying for federal disaster aid from the August 18 storm. They include:

    FEMA Disaster Recovery Centers

    Southbury: Southbury Town Hall (501 Main Street South, Southbury)
    Wilton: Our Lady of Fatima Church (229 Danbury Road, Wilton)

    Hours of operation:

    • Mondays to Fridays: 8:00 a.m. to 6:00 p.m.
    • Saturdays: 8:00 a.m. to 4:00 p.m.
    • Sundays: 10:00 a.m. to 2:00 p.m.

    SBA Business Recovery Centers

    Monroe: Monroe Police Department (7 Fan Hill Road, Monroe)
     Oxford: Oxford Town Hall (486 Oxford Road, Oxford)

    Hours of operation:

    • Mondays to Fridays: 8:00 a.m. to 6:00 p.m.
    • Saturdays: 10:00 a.m. to 2:00 p.m.
    • Sundays: Closed

     

     

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: The Department of Telecommunications concludes Swachhata Hi Seva 2024 Campaign

    Source: Government of India (2)

    The Department of Telecommunications concludes Swachhata Hi Seva 2024 Campaign

    Launches Implementation Phase of Special Campaign 4.0 with Cleanliness Drive

    Posted On: 02 OCT 2024 7:58PM by PIB Delhi

    This year Department of Telecommunications (DoT) celebrated the 10th anniversary of the launch of Swachh Bharat Mission, Swachhata Hi Seva 2024 with the theme “Swabhaav Swachhata- Sanskaar Swachhata” with great enthusiasm. The campaign facilitated large scale advocacy and citizen participation for Swachhata, cleanliness drives with focus on cleaning of Cleanliness Target Units (CTUs) across the country through active participation of officers and staff of DoT HQ, attached offices, subordinate offices, field units and public sector units.

    Hon’ble Union Minister for Communications actively participated in the campaign by administering Swachhata Pledge to the officers and staff of BSNL Telephone Exchange, Acheleshwar, Madhya Pradesh and with plantation of a tree sapling under ‘Ek Ped Maa Ke Naam’ initiative on 20.09.2024. He also launched “Ek Ped Maa Ke Naam” app on 23.09.2024 to track planting of trees by users which they can dedicate in the name of their respected mothers.

    The campaign saw enthusiastic participation from DoT HQ, attached offices, subordinate offices, field units, and public sector units, focusing on the cleaning of Cleanliness Target Units (CTUs) nationwide. Approximately 700 events were organized, including the cleaning of 74 CTUs and about 50 SafaiMitra Suraksha Shivirs, embodying the campaign’s commitment to sanitation and safety.

    The campaign was concluded with the mega cleanliness drive organized outside Patel Chowk Metro Station, New Delhi wherein senior officers of the Department including Advisor Finance, Wireless Advisor, DDG(C&A), other DDGs and several other officers & employees of the Department participated in Shramdaan as a fitting tribute to the Father of the Nation.

    Several other Cleanliness campaigns by various units of DoT were also organized across the country today. Some snapshots are shared below: –

    Cleanliness drive at Model Park, Rajabazar, Sector-IV Gole Market, New Delhi, by DGT HQ

     

    Cleanliness drive by office of CGCA at Barakhamba Metro Station, New Delhi

        

    Under स्वच्छता लक्षित इकाई, Shramdaan by the employees of Circle Office, BSNL, Raipur

    Cleanliness Drive by TCIL at Jaipur

    Cleanliness drive at NCA CAMPUS, Ghaziabad, Uttar Pradesh

    The conclusion of the Swachhata Hi Seva Campaign also witnessed the launch of implementation phase of Special Campaign 4.0 with a cleanliness drive at DoT HQ and a commitment to resolve pending public issues & other related matters across 400+ sites.

    The Department of Telecommunications is actively participating in Special Campaign 4.0. During the identification phase of the campaign (up to 30.09.2024) the Department has already identified targets on disposal of pending MP references, State Government References, Public Grievances, PG Appeals, Parliamentary Assurances etc. It has identified more than 400 campaign sites across its organizations/ field offices/ PSUs pan India during the campaign to resolve pending matters.

    ****

    SB/DP

    (Release ID: 2061249) Visitor Counter : 46

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Study – Can the Banking Union foster market integration, and what lessons does that hold for the Capital Markets Union? – 29-09-2024

    Source: European Parliament

    We address the role of the Banking Union (BU) in promoting market integration and the lessons it provides for the Capital Markets Union (CMU). First, we tackle BU’s establishment, exploring whether it has achieved its original goals and discussing its main shortcomings. Second, we address market integration in the BU. Third, we advance some proposals to finalise the BU accelerating effective market integration. Fourth, we explore various BU-CMU interconnections, introducing policy-related considerations to support the development of a well-functioning CMU.

    MIL OSI Europe News –

  • MIL-OSI Translation: From Berlin, closing of the conference on the future of Europe in a multipolar world.

    MIL OSI Translation. Government of the Republic of France statements from French to English –

    Source: President of the Republic of France in French (video)

    To follow the Presidency of the Republic: Facebook: https://www.facebook.com/elysee.fr Twitter: https://twitter.com/elysee Instagram: https://www.instagram.com/elysee LinkedIn: https://www.linkedin.com/company/pr-sidence-de-la-r-publique

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

    MIL Translation OSI

  • MIL-OSI USA: Millions of Californians to receive average $71 credit on October electric bills

    Source: US State of California 2

    Oct 2, 2024

    What you need to know: California’s Cap-and-Trade Program is providing an average $71 electricity bill credit to millions of customers of investor-owned utilities, including PG&E, Southern California Edison, and SDG&E, among others. 

    SACRAMENTO – Governor Gavin Newsom today announced that more than 11.5 million Californian households will automatically see savings on their October electricity bill through the California Climate Credit, funded by the state’s innovative Cap-and-Trade Program. 

    This credit will average $71 per electric bill customer. Including credits that went out in April, Californians will receive an average of $217 in bill credits during 2024. Since 2014, Californian households have already received an average of $971 in combined automatic April and October climate credits on their utility bills, totaling more than $14 billion statewide.

    “Thanks to our state’s Cap-and-Trade program, millions of Californians will see an average credit of $71 on their electric bills this month. Not only does this credit provide much-needed relief for families, it’s helping Californians make the switch to cleaner energy.”

    Governor Gavin Newsom

    Electricity bill credits this month will range from approximately $32 to $174. More than 1 million small businesses are also expected to receive the credit. Customers may remember receiving a similar credit on electricity bills in April. 

    The California Climate Credit comes from the State’s Cap-and-Trade Program, which collects funds by requiring companies to pay for climate pollution, and is managed by the California Air Resources Board. The credit on utility bills represents the consumer’s share of the payments from the State’s program. 

    Press Releases, Recent News

    Recent news

    Oct 2, 2024

    News What you need to know: The largest river restoration project in American history has officially completed all of the work to remove the dams, a massive infrastructure project that was done ahead of schedule and on budget. Work will continue for several years…

    Oct 2, 2024

    News What you need to know: With California experiencing climate-driven extremes in weather, the state is continuing to take aggressive action to protect and expand the state’s water supplies, including prioritizing groundwater recharge and infrastructure improvements…

    Oct 2, 2024

    News What you need to know: California is investing record amounts of federal funding and implementing new measures to save lives following an increase in traffic fatalities. SACRAMENTO – As states across the nation, including California, continue to see an increase…

    MIL OSI USA News –

  • MIL-OSI USA: SCHUMER ANNOUNCES $9.4 MILLION TO HELP SMALL BUSINESSES GROW & TAP INTO THE BOOMING SEMICONDUCTOR SUPPLY CHAIN ACROSS UPSTATE NY

    US Senate News:

    Source: United States Senator for New York Charles E Schumer

    Funding Will Help Grow NY’s Semiconductor Supply Chain By Providing Technical Assistance To Small Businesses Growing In The Semiconductor Industry Across Upstate NY Supporting Ongoing Work With The Buffalo-Rochester-Syracuse Tech Hub, Mohawk Valley Edge, The Capital Region CEG & Empire State Development

    Schumer: Fed $$$ Will Supercharge Upstate NY’s Growing Semiconductor Superhighway!

    U.S. Senate Majority Leader Charles E. Schumer today announced New York State has been awarded $9.4 million, with $1.5 million in matching funds from Empire State Development (ESD), to help small businesses across Upstate NY tap into and grow in the semiconductor and microelectronics industries. Schumer said this new program will help maximize the local impact of the billions in investment we are seeing across Upstate NY from companies like Micron, GlobalFoundries, and Wolfspeed thanks to his CHIPS & Science Law by breaking down barriers to help small businesses enter and expand into the semiconductor supply chain.  

    “Small businesses across Upstate NY want to enter the booming semiconductor industry, but they can’t do it alone. This major $9.4 million in federal funding will help provide critical technical assistance to boost effort to make it happen. This is how we maximize the benefit of companies like Micron, GlobalFoundries, and Wolfspeed’s expansions in Upstate NY, helping existing businesses grow and adapt to lead in the next frontier of technology. This will help boost efforts along the I-90 Tech Hub I secured and help Upstate NY build a robust supply chain from Buffalo to Utica to Albany that further positions the region as a global center for chip manufacturing,” said Senator Schumer. “I fought to secure historic funding for the State Small Business Credit Initiative in the American Rescue Plan and urged Secretary Yellen to prioritize funding for supply chain development, including in the semiconductor industry, because I know that support for small businesses is critical to our efforts to bringing manufacturing back home to America. Today’s federal investment further supercharges Upstate NY’s growing semiconductor superhighway!”

    With this funding, New York will implement the Semiconductor Growth Access Program (SGAP). The program will provide technical assistance – including legal, financial, and accounting services – to existing small businesses to grow in or pivot to the semiconductor and microelectronic supply chain. This will help those businesses upgrade and expand their equipment, building a chip manufacturing cluster across Upstate New York. Additionally, SGAP will create a shared regional purchasing roundtable of large manufacturers and tier 1 suppliers, designed to provide regular access to purchasing opportunities for participating businesses.

    The SGAP program will work alongside the Supply Chain Activation Network (SCAN), a project of the Buffalo-Rochester-Syracuse NY SMART-I Corridor Tech Hub, which Schumer fought to secure and has already delivered $40 million of federal funding to support. It will also support critical semiconductor supply chain growth with partners at the Mohawk Valley Economic Development Growth Enterprises Corporation (EDGE), and the Capital Region Center for Economic Growth (CEG).

    “New York has become a global leader in high-tech manufacturing – and we’re just getting started,” Governor Hochul said. “This $9.4 million investment from the State Small Business Credit Initiative will be critical as we work to connect underserved and very small businesses with the resources they need to succeed. Working with the Biden-Harris Administration, we’re creating even more jobs and opportunities for all New Yorkers.”

    Schumer previously led 15 senators in urging U.S. Department of Treasury Secretary Janet Yellen to use State and Small Business Credit Initiative funding to bring manufacturing back to the United States to strengthen domestic supply chains, including in the semiconductor industry. The American Rescue Plan Act reauthorized and expanded SSBCI, which provides nearly $10 billion to support small businesses and empower them to access the capital needed to invest in job-creating opportunities. Schumer supported state and local capital and technical assistance initiatives for small businesses to rebuild the economy coming out of the COVID-19 pandemic.

    Thanks to Schumer’s CHIPS & Science Law, Upstate New York has seen a major revival in tech manufacturing. Micron has announced plans for a historic $100+ billion investment to build a cutting-edge memory fab in Central New York with the support of an over $6 billion preliminary CHIPS agreement. GlobalFoundries plans to invest over $12 billion to expand and construct a second, new state-of-the-art computer chip factory in the Capital Region, with support of a $1.5 billion preliminary CHIPS agreement. Wolfspeed has opened the first, largest, and only 200mm silicon carbide fabrication facility in the world in the Mohawk Valley, with plans to further expand their operations. TTM Technologies, a printed circuit board manufacturer, plans to invest up to $130 million to expand their facilities in Onondaga County, creating up to 400 good-paying jobs. Menlo Micro will invest $150 million to build their microchip switch manufacturing facility in Tompkins County, creating over 100 new good-paying jobs. In addition, Upstate New York is home to semiconductor supply chain companies like Corning Incorporated, which manufactures glass critical to the microchip industry at its Canton and Fairport, NY plants, and following Schumer’s advocacy, Edwards Vacuum has announced a $300+ million investment to build a dry pump manufacturing facility, creating 600 good-paying jobs to support the growing chip industry in Western New York.

    MIL OSI USA News –