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  • MIL-Evening Report: In the rare event of a vaccine injury, Australians should be compensated

    Source: The Conversation (Au and NZ) – By Nicholas Wood, Professor, The Children’s Hospital at Westmead Clinical School, University of Sydney

    PeopleImages.com – Yuri A/Shutterstock

    Vaccination is one of the most effective methods to protect individuals and the broader public from disease. Vaccines are typically given to healthy people to prevent disease, so the bar for safety is set high.

    People benefit from vaccination at an individual level because they’re protected from disease. But for some vaccines, strong community uptake leads to “herd immunity”. This means people who are unable to be vaccinated can be protected by the “herd”.

    As with any prescribed medicine, vaccines can cause side effects. In the rare case that COVID vaccines did cause a specified serious injury (the scheme listed certain conditions that a person could claim for), Australians have been able to claim compensation. But this ends at the end of this month.

    From then, Australians won’t be able to access no-fault compensation for any vaccine injury – from COVID or any others.

    Why compensate people for vaccine injuries?

    Fortunately, serious vaccine injuries are rare. Most are not a result of error in vaccine design, manufacturing or delivery, but are a product of a small but inherent risk.

    As a result, people who suffer serious vaccine injuries cannot get compensation through legal mechanisms. This is because they can’t demonstrate the injury was caused through negligence.

    Vaccine injury compensation schemes compensate people who have a serious vaccine injury following administration of properly manufactured vaccines.

    The COVID vaccine claims scheme

    In 2021, in recognition of the rare risk of a serious vaccine injury, and in support of the roll out of the COVID vaccine program, the Australian government introduced a COVID vaccine claims scheme.

    The aim was to provide a simple, streamlined process to compensate people who suffered a moderate to severe vaccine injury, without the need for complex legal proceedings. It was limited to TGA-approved COVID vaccines, and to specific reactions.

    The Australian government has said the scheme will close this month and claims need to be lodged before September 30 2024.

    Following its closure, Australia will not have a vaccine injury compensation scheme.

    Australia is lagging internationally

    Australia lags behind 25 other countries including the United States, United Kingdom and New Zealand which have comprehensive no-fault vaccine injury compensation schemes. These cover both COVID and non-COVID vaccines.

    The schemes are based on the ethical principle of “reciprocal justice”. This acknowledges that people acting to benefit not just themselves but also the community (for the benefit of the “herd”) should be compensated by the same community if it has resulted in harm.

    The US, UK and New Zealand all have vaccine injury compensation schemes.
    Monkey Business Images/Shutterstock

    So what happens in Australia now?

    In Australia, people with non-COVID vaccine injuries or COVID vaccine injuries not covered by the current claims scheme must bear the costs associated with their injury by themselves or access publicly funded health care. They will not receive any compensation for their injury and suffering.

    Australia’s National Disability Insurance Scheme (NDIS) provides funding support to access therapies for people with a permanent and significant disability. However, it does not cover temporary vaccine-related injuries.

    Participants with vaccine injuries as a result of taking part in a clinical vaccine trial are compensated. This typically includes income-replacement, personal assistance expenses and reimbursement of expenses resulting from the incident, including medical expenses.

    In Australia, we also have strong compulsion for people to receive routine vaccines through legislative requirements such as No Jab No Pay (which requires children to be immunised to receive some government payments) and, in some states, No Jab No Play (which requires children be fully immunised to attend childcare).

    Countries such as ours that mandate vaccination without providing no-fault injury compensation schemes for rare vaccine injury could be abrogating the social contract by not protecting the individual and community.

    It’s time to set up an Australian scheme

    The Australian immunisation system is among the most comprehensive in the world. Our government-funded national immunisation program provides free vaccines for infants, children and adults for at least 15 diseases.

    We also have a whole-of-life immunisation register and comprehensive vaccine safety surveillance system.

    Australia’s immunisation program provides vaccines for at least 15 different diseases.
    sergey kolesnikov/Shutterstock

    A recent Senate committee recommended:

    the Australian government consider the design and compensation arrangements of a no-fault compensation scheme for Commonwealth-funded vaccines in response to a future pandemic event.

    Vaccines are designed to be very safe and effective. But the “insurance policy” of an injury compensation scheme, if designed and communicated appropriately, should build trust and give confidence to health workers and the general public to support our national vaccine program. This is particularly important given the reductions in uptake of routine vaccines.

    How should it work?

    A no-fault vaccine injury compensation scheme could be funded via a vaccine levy system, as is done in the US, where an excise tax is imposed on each dose of vaccine.

    An effective vaccine injury compensation scheme needs to be:

    • accessible, with low legal and financial barriers
    • transparent, with clear decision-making processes, compensation frameworks and funding responsibilities
    • timely, with short, clear timeframes for decision-making
    • fair, with people compensated adequately for the harm they’ve suffered.

    Legislation to introduce and allocate funds to support an Australian injury compensation scheme for all vaccines is overdue. The draft National Immunisation Strategy 2025–2030 hinted at the opportunity to explore the feasibility of a no fault compensation scheme for all vaccines the Australian government funds, without committing to such a program.

    An Australian vaccine injury scheme, covering all national immunisation program vaccines, not just pandemic use vaccines, should be seen as a crucial component of our public health system and a social responsibility commitment to all Australians.

    Nicholas Wood previously received funding from the NHMRC for a Career Development Fellowship and is a Churchill Fellow.

    Sophie Wen receives funding from Queensland Government for an Advancing Clinical Research Fellowship and is a Mary McConnel career boost program recipient from Children’s Hospital Foundation. Sophie Wen is an investigator for several industry-sponsored clinical vaccine trials but does not receive any direct funding.

    Tim Ford 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. In the rare event of a vaccine injury, Australians should be compensated – https://theconversation.com/in-the-rare-event-of-a-vaccine-injury-australians-should-be-compensated-232396

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Politicians know defamation laws can silence women, but they won’t do anything about it

    Source: The Conversation (Au and NZ) – By Sarah Ailwood, Senior Lecturer, School of Law, University of Wollongong

    Shutterstock

    This piece is the second in a series on Australia’s defamation laws. You can read the first article here.

    Over recent years, forces like the #MeToo movement have shone a light on how Australia’s defamation laws play out for women. These laws influence whether and how women speak about their experiences of violence and harassment.

    Multiple high-profile cases have highlighted the gender dynamics at play. Both Geoffrey Rush’s successful defamation claim against the Daily Telegraph in 2018 and Bruce Lehrmann’s ongoing litigation against Network Ten and Lisa Wilkinson attracted much media attention. This included commentary about how defamation can silence women.

    But these laws don’t only affect women speaking out publicly and through the media. They also affect women seeking to report sexual violence to the police and sexual harassment in the workplace.

    Defamation law is weaponised against women in a variety of settings across the country. Our politicians have acknowledged this, but there’s been little appetite for fixing it.

    The difficulty of truth

    To bring a defamation claim under Australian law, a plaintiff must prove a number of things. But one thing the plaintiff does not have to prove is that the publication is false.

    Many defendants rely on the “truth defence”, which requires them to prove the substantial truth of the publication. If it’s successful, that wins them the case.

    But with allegations of sexual violence, establishing the truth is notoriously difficult. That’s even with a lower standard of proof (the balance of probabilities) than in criminal courts (beyond reasonable doubt).

    Look no further than in Lehrmann’s case against Ten. The quality and quantity of the evidence brought by the defence, including extensive audio-visual recordings and the testimony of multiple third parties, shows what’s needed to meet this very high standard.

    This means it is relatively easy for an alleged perpetrator to bring a defamation claim against a person who reports sexual violence or harassment, and relatively difficult for a victim-survivor to defend the claim.

    Discouraging coming forward

    The weaponisation of defamation law by perpetrators against women reporting sexual violence and harassment is well documented.

    In the Respect@Work Report, the Australian Human Rights Commission heard evidence that women reporting workplace sexual harassment were being threatened with and sued for defamation. The report found Australia’s defamation laws “discourage sexual harassment victims from making a complaint”.

    Recent research has revealed that threatening or commencing defamation proceedings is a widely used tactic by alleged perpetrators to silence victim-survivors and pressure them to withdraw complaints.



    Read more:
    Non-disclosure agreements are commonplace in sexual harassment cases, but they’re being misused to silence people

    The destructive effects of defamation litigation for victim-survivors are evident in a 2022 Queensland case called Sherman vs Lamb.

    A victim-survivor of coercive control in a relationship that had recently ended reported the violence to a police officer. She was then successfully sued for defamation by the perpetrator at trial.

    The judge also found the victim-survivor’s report was malicious. He found “police have no interest in or a duty to receive gossip or adverse commentary”.

    Both of these findings were overturned on appeal, but by then, the costs of the defamation litigation had forced the victim-survivor to declare bankruptcy.

    Reluctance to change

    The impact of perpetrators weaponising defamation law is both individual and structural.

    On an individual level, it targets victim-survivors reporting and complaining of sexual harassment and violence.

    Structurally, it contributes to a culture of fear of speaking out, contributing to the ongoing silencing of violence against women.

    Yet the Standing Council of Attorneys-General (the federal attorney-general and those from every state and territory) has chosen not to act to protect women reporting sexual violence and harassment from defamation claims in the workplace.

    The council did agree that absolute privilege should be extended to reporting to police. Absolute privilege means a person can’t be help liable for defamation, like in parliament.

    So far, attorneys-general in Victoria, New South Wales and the ACT have brought in legal protections for women reporting violence to police. That’s a good thing, though other state and territories are yet to follow.

    But it obscures the group’s refusal to extend those protections to the workplace, where much of this abuse occurs.

    In its review of defamation laws, the council considered how these laws affect workplace sexual harassment. In particular, it considered whether absolute privilege should apply to sexual harassment and violence in particular contexts, like work.

    The council found victim-survivors and witnesses of sexual violence, sexual harassment and other forms of unlawful personal conduct are being threatened with and sued for defamation. It found this causes victim-survivors to withdraw reports and complaints, and that it deters them from making reports and complaints in the first place.

    A key advantage of extending absolute privilege is that many defamation claim would likely be summarily dismissed without the need for a costly and lengthy trial, which is usually required. This would likely reduce the weaponisation of defamation law by perpetrators.

    The council decided not to do this in workplaces. It blamed a division of stakeholder opinion within the consultation process. It also said there weren’t enough protections for alleged perpetrators, like penalties for false reporting.

    Reinforcing myths

    The rationale appears to be that employers implementing Respect@Work and eliminating sexual harassment from their workplaces will also eliminate the need to report it, in turn removing the threat presented by defamation law.

    But the council’s decision also reinforces how important the idea of reputation is within Australian defamation law.

    Protecting the reputation of alleged perpetrators of violence is of greater value to Australia’s attorneys-general than protecting the speech of victim-survivors of sexual violence and harassment.

    It also reinforces myths about workplace sexual harassment: that men are at significant risk from women making false reports, and that sexual harassment is an individual, interpersonal problem rather than a structural issue that should be addressed by law reform.

    Australian women remain at risk of being threatened with or sued for defamation for reporting sexual harassment and violence in the workplace.

    This is yet another instance of a law reform process failing to listen and act in response to violence against women. Our chief legal officers have acknowledged the weaponisation of defamation law to silence women in the workplace and refused to do anything to prevent it.

    Sarah Ailwood 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. Politicians know defamation laws can silence women, but they won’t do anything about it – https://theconversation.com/politicians-know-defamation-laws-can-silence-women-but-they-wont-do-anything-about-it-238079

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Representative Doggett and Senator Warren Lead Members Urging Biden Administration to Lower Price of Popular Weight-Loss Drugs

    Source: United States House of Representatives – Congressman Lloyd Doggett (D-TX)

    Contact: Alexis.Torres@mail.house.gov

    Washington, D.C.—Today, U.S. Representative Lloyd Doggett (D-TX-37) and U.S. Senator Elizabeth Warren (D-Mass.) led an effort to urge the Biden Administration to improve American health and well-being by lowering the cost of vital weight-loss drugs. Specifically, the members are calling for Health and Human Services (HHS) Secretary Xavier Becerra to use existing legal authority to issue generic licenses for semaglutide, a prescription drug commonly used to treat obesity and diabetes and is sold under the brand names of Ozempic and Wegovy. Similarly, a coalition of more than 20 organizations has also called on Secretary Becerra to take such action.

    “With a sticker price of up to $1,400 per month, patients can rarely afford Wegovy or Ozempic out-of-pocket and few insurance plans offer complete coverage due to the prohibitive cost,” the members wrote. “One study has found that covering these drugs for just 10% of Medicare beneficiaries with obesity would cost taxpayers $27 billion a year. Coverage for all Americans would cost nearly $1 trillion. A recent report from the Congressional Budget Office (CBO) estimated that the cost to cover these drugs would outweigh any savings from reduced utilization of associated health services and treatments.” 

    “Manufacturers will frequently cite the cost of innovation and the need to recoup research and development costs as the reason for charging sky-high prices.  Yet, time and again, this is debunked,” the members continued. “In the case of Ozempic and Wegovy, the manufacturer has earned over $38 billion in revenue from these two drugs and Goldman Sachs Research predicts revenue will reach $100 billion within this decade.  Meanwhile, last year, the manufacturer spent nearly twice as much on enriching its shareholders with stock buybacks and dividends ($8.95 billion) than on research and development ($4.71 billion).

    Under Section 1498, a more than a century-old statutory authority, the Biden Administration may lower prices by permitting generic competitors to license patented inventions in exchange for reasonable compensation to the brand-name manufacturer. By exercising this existing authority, HHS could help stabilize the health care market while meeting high consumer demands at more affordable prices.

    Additional signers include Senator Jeff Merkley (D-OR) and Representatives Eleanor Holmes Norton (D-DC), Sheila Cherfilus-McCormick (FL-20), Ro Khanna (CA-17), Pramila Jayapal (WA-07), Cori Bush (MO-01), Mark Pocan (WI-02), Jan Schakowsky (IL-09), Rashida Tlaib (MI-12), Mark Takano (CA-39), Rosa DeLauro (CT-03), Greg Casar (TX-35) and Barbara Lee (CA-12).  

    The letter in full can be found here and below. 

    Dear Secretary Becerra:  

    We write to strongly urge you to use your existing legal authority under 28 U.S.C. § 1498 to protect the public’s health and safety to ensure reasonable prices on semaglutide, a prescription drug sold under the brand names of Ozempic and Wegovy and commonly used to treat diabetes and obesity.  By utilizing your competitive licensing authority to permit generic competitors to Wegovy and Ozempic, you can stabilize supplies at a time of enormous demand and lower outrageous prices that have severely limited access to these life-changing drugs.  

    Approximately 38 million, or one in ten, Americans has diabetes, and an additional 100 million American adults have prediabetes. Nearly one-third of adults are overweight and 42% are obese.  Diabetes and obesity are associated with heart disease, stroke, kidney disease, and more.  Yet, the federal government has failed to restrain Big Pharma price gouging to ensure patients can afford the newest treatments.   

    With a sticker price of up to $1,400 per month, patients can rarely afford Wegovy or Ozempic out-of-pocket and few insurance plans offer complete coverage due to the prohibitive cost.  One study has found that covering these drugs for just 10% of Medicare beneficiaries with obesity would cost taxpayers $27 billion a year.  Coverage for all Americans would cost nearly $1 trillion. A recent report from the Congressional Budget Office (CBO) estimated that the cost to cover these drugs would outweigh any savings from reduced utilization of associated health services and treatments. 

    Due to budget-busting prices, only 16 states offer state employee or Medicaid coverage for these drugs.  About 34% of employer plans offer coverage and only about 1% of Affordable Care Act (ACA) Marketplace plans do the same.  Put another way, 99% of consumers with Marketplace plans have no access to these drugs, while 66% of workers with private employer plans and 68% of state employees and Medicaid recipients are denied access.  The few insurers that offer coverage for Ozempic and Wegovy often include several restrictions to limit the financial impact.  For example, the Department of Veterans Affairs requires patients with diabetes to try and fail with two or more medications before the VA will cover Ozempic.    

    We do not condemn the states and insurers that have limited access to these drugs under such difficult circumstances.  It would be irresponsible to offer unlimited coverage when prices are also unlimited.  The North Carolina State Health Plan ended coverage after spending $100 million in a single year on these drugs—spending that would have required insurance premiums to double to offset the cost. If half of all Americans with obesity could access these drugs, it would cost an estimated $411 billion a year, more than all existing prescription drug spending in the U.S. 

    We do not need to waste taxpayer dollars, bankrupt health systems, or deny patients access to effective treatments.  We can save consumers’ health and be fiscally responsible by stopping Big Pharma monopoly abuse.  These drugs cost Americans up to 15 times more than patients in peer countries like Canada, Japan, Germany, the UK, and Denmark. There is no reason for Americans to pay the world’s highest prices, substantially more than other wealthy Nations, for the exact same medicines.  

    Manufacturers will frequently cite the cost of innovation and the need to recoup research and development costs as the reason for charging sky-high prices.  Yet, time and again, this is debunked.  In the case of Ozempic and Wegovy, the manufacturer has earned over $38 billion in revenue from these two drugs and Goldman Sachs Research predicts revenue will reach $100 billion within this decade. Meanwhile, last year, the manufacturer spent nearly twice as much on enriching its shareholders with stock buybacks and dividends ($8.95 billion) than on research and development ($4.71 billion).   

    The exorbitant prices paid by Americans are financing corporate greed, not innovation.  While we recognize the important role of the private sector in research and development and support the ability to make a reasonable profit, industry interests should not outweigh meeting health and safety needs for all consumers and providing accountability to taxpayers.  When manufacturers use their monopoly power to extract unfair and unjustified prices at the expense of consumers, the federal government must restrain such abuse.   

    Under Section 1498, the Administration has the clear authority to license generic competition on any patented invention “used or manufactured by or for the United States.”  Rightly, patentholders are entitled to reasonable compensation set by the U.S. Court of Federal Claims.  This law ensures Americans may access important goods while protecting the rights of inventors and providing fair compensation.  For over a century, this authority has been used across technologies, ranging from fraud detection banking software and electronic passports to methods of removing hazardous waste.  Section 1498 has also been used to authorize generic, lower cost drugs, and just the threat of this authority, has incentivized brand-name manufacturers to voluntarily cut prices.   

    You have the opportunity and responsibility to dramatically improve health care access and achieve substantial taxpayer savings by using Section 1498 to authorize generic competitors to Ozempic and Wegovy.  We strongly urge you to use your clear statutory authority and stand ready to assist in your efforts to deliver long overdue relief to American taxpayers and consumers. 

    MIL OSI USA News –

  • MIL-OSI USA: Protect Your Thrift Savings Plan (TSP) Account From Fraud — Investor Alert

    Source: Securities and Exchange Commission

    The SEC’s Office of Investor Education and Advocacy (OIEA) and Division of Enforcement Retail Strategy Task Force are providing tips for investors in the Thrift Savings Plan to help protect against fraud.

    Most federal government employees, including military service members, are eligible to participate in The Thrift Savings Plan (TSP), a federal government-sponsored retirement savings and investment plan.  The TSP offers the same type of savings and tax benefits that many private corporations offer their employees under 401(k) plans.  The TSP website (TSP.gov) explains the benefits available to TSP participants.  

    If you have a TSP account, you should be aware of fraudulent schemes aimed at TSP investors. 

    Here are a few ways you can protect your account.

    Be cautious if someone you do not know contacts you and tries to convince you to transfer money out of your TSP account.

    Fraudsters may use scare tactics to convince TSP investors to transfer money out of their TSP accounts and into other accounts controlled by the fraudsters.  In some cases, they may direct investors to transfer money from their TSP accounts into self-directed individual retirement accounts.  To learn more about risks of investing through self-directed IRAs — including fraudulent schemes — read this Investor Alert.

    SEC enforcement action.  In SEC v. Red Rock Secured, LLC et al., the SEC charged defendants for engaging in a fraudulent scheme through which they allegedly persuaded hundreds of TSP and other retirement plan investors to sell their existing securities, to transfer the proceeds into a self-directed IRA (SDIRA) account that the defendants helped to establish, and to invest the proceeds in gold or silver coins sold by the defendants.  According to the SEC’s complaint, investors who held securities in retirement accounts such as TSPs, 401(k)s and IRAs were targeted through numerous email campaigns, digital newsletters and advertisements.  The SEC alleges that investors were provided with false and misleading information, including regarding the markups charged on the coins sold, the value of the coins sold, and stock market performance.  As alleged in the SEC’s complaint, most of the proceeds that investors transferred to SDIRAs to purchase “premium” coins went to pay markups, which significantly depleted the investors’ retirement assets.

    Be suspicious if someone offering you an investment claims to be affiliated with the government, the TSP, or government retirement plans.

    The TSP will not contact federal employees about investment opportunities and does not authorize third parties to provide counseling or investment-related services to anyone.  You can confirm whether a seller is affiliated with a government agency by contacting the agency directly or calling the SEC’s toll-free investor assistance line at (800) 732-0330.  To learn more about fraudsters targeting TSP investors while pretending to be affiliated with the federal government, read this Investor Alert. 

    Protect your TSP account (and personal information) from being compromised.

    The TSP website describes the following three steps as well as other ways you can protect money you’ve invested in your TSP account from fraud:

    1. Make sure the contact information and mailing address on your account are correct.
    2. Protect your username, password, and ThriftLine PIN.
    3. Consider using the account lock feature for extra protection.

    If you believe someone else has your My Account login information, you’ve experienced identity theft, or you receive any message about suspicious activity on your TSP account, contact the ThriftLine Service Center immediately.

    If you suspect securities fraud in connection with your TSP investments, you can report it to the SEC using the SEC’s online TCR system.

    Additional Resources

    Investor Alert: Fraudsters May Target Federal Government Employee Retirement Plan Participants

    Investor Alert: Self-Directed IRAs and the Risk of Fraud

    Military webpage on Investor.gov

    Report possible securities fraud to the SEC online at www.sec.gov/tcr.

    Protect your hard earned money – learn more tips on investing wisely and avoiding fraud at Investor.gov.

    Call the SEC’s Office of Investor Education and Advocacy (OIEA) at 1-800-732-0330, ask a question using this online form, or email OIEA at Help@SEC.gov.  Receive Investor Alerts and Bulletins by email or RSS feed.

    Follow OIEA on Twitter @SEC_Investor_Ed. Like OIEA on Facebook at facebook.com/secinvestoreducation.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Union Minister Shri Jyotiraditya M. Scindia addresses press conference to share important decisions and achievements taken by the Department of Posts in the 100 days of the third term of Prime Minister Shri Narendra Modi

    Source: Government of India (2)

    Union Minister Shri Jyotiraditya M. Scindia addresses press conference to share important decisions and achievements taken by the Department of Posts in the 100 days of the third term of Prime Minister Shri Narendra Modi

    15,466 Dak Chaupals conducted nationwide

    3400+ exporters onboarded on Dak Ghar Niryat Kendra

    DIGIPIN pilot completed in 1 town & 10 villages

    Posted On: 23 SEP 2024 8:14PM by PIB Delhi

    Union Minister Shri Jyotiraditya M Scindia along with Minister of State for Communications and Rural Development, Dr. Pemmasani Chandra Sekhar today addressed the media on achievements of the Ministry of Communications (DoT& DoP) and Ministry of Development of Northeastern Region (DONER)in 100 days of the Government in New Delhi. Secretary (Telecom), Secretary (Department of Post), Secretary DONER and senior officials of the ministries were present.

    Speaking at the Conference, Minister Scindia shared that “With the resolve of ‘Dak Sewa, Jan Sewa’ the India Post Department in the last 100 Days has focused on amplifying financial inclusion, incorporating new technology and applying a new approach to policy reforms.”

     

       

    Press Conference at National Media Centre

    The Department of Posts has accomplished significant milestones as part of its 100-day action plan, aimed at enhanced service delivery and operational efficiency for the benefit of the nation. Through a series of strategic initiatives, the Department has not only streamlined its services but also brought essential government schemes and programs closer to citizens, particularly in rural areas. From empowering rural exporters to creating a digital infrastructure for standardized addressing, the Department’s efforts have touched various facets of citizens’ lives. Key objectives such as holding more than 5000 Dak Chaupals, onboarding more than 3000 exporters on Dak Ghar Niryat Kendra, launching DIGIPIN as pilot in 1 town & 10 villages have successfully been completed.

    Details on the above achievements:

    Dak Chaupal: Bringing services to rural doorsteps –

    The Dak Chaupal initiative has proven to be a resounding success, with the Department organizing 15,163 Dak Chaupals nationwide, far surpassing the initial expectations. These Chaupals have facilitated vital government services directly at the rural level, engaging over 8.52 lakh citizens, with 44% of participants being women. The Dak Chaupal initiative enabled on-spot account opening, Aadhaar updates, and enrolment in various government schemes like Jan Suraksha, thereby significantly enhancing the accessibility of essential services in rural regions in a manner that actively contributes to the broader goals of “Vittiya Sashakhtikaran and Samaveshan”.

    Utersoo, Srinagar, J&K

    Mandapeta, Rajahmundry
     Andhra Pradesh Circle

     

    Dak Ghar Niryat Kendra (DNK): Boosting rural exports

     

    Under the Dak Ghar Niryat Kendra (DNK) initiative, the Department on-boarded more than 3,400 new exporters to support rural and small-scale exporters. This program, closely aligned with the ‘One District—One Product’ initiative, has provided exporters with services such as market information, documentation support, and paperless customs clearance. By doing so, the DNK has empowered micro-entrepreneurs, artisans, and small businesses to access global markets through postal channels easily. In the past 100 days, over 1.07 lakh shipments were processed under the DNK scheme, resulting in Rs. 8.50 crore in postage revenue and an export value of Rs. 23.01 crore. Additionally, Seven Exporters awareness workshops involving DGFT, MSMEs, Export Promotion Councils, State authorities and exporters were also organized.

     

    Glimpses from the workshop on Dak Ghar Niryat Kendra at Indore

     

     

    Standardized Geo-Coded Addressing System: Revolutionizing service delivery

    The Standardized Geo-Coded Addressing System has also made significant strides with successfully completing a pilot program in 10 villages and 1 town. This initiative aims to establish a digital public infrastructure for a standardized, geo-coded addressing system in India, which can simplify addressing solutions for citizen-centric delivery of public and private services to enable “Address as a Service” (AaaS) in India. This will simplify addressing across India by using automated DIGIPIN allocation using SVAMITVA data and other open-source GIS data. The beta version of DIGIPIN was launched on 19th July 2024, marking a key achievement in developing this system. The Department has forged key partnerships, including an MoU with the National Remote Sensing Centre (ISRO) and the National Institute of Urban Affairs, to further enhance this initiative.

     

    These partnerships aim to leverage advanced technologies and expertise to provide precise mapping and addressing solutions, ultimately revolutionizing service delivery across the country. This grid-based system will be a robust pillar of Geospatial Governance, leading to enhancements in public service delivery, faster emergency response, and a significant boost to logistics efficiency.

     

    The Post Office Act, 2023

     

    The Post Office Act, 2023 came into effect on 18th June 2024, replacing the Indian Post Office Act of 1898. This forward-thinking legislation has modernized the postal system, addressing both contemporary challenges and future needs. By focusing on improving customer experiences and service delivery mechanisms, the new Act positions the Department of Posts to be more responsive to the evolving requirements of citizens, embodying the principle of “Dak Sewa Jan Sewa.” The subordinate legislation, including the Post Office Rules, 2024 and Regulations 2024, are currently in the process of issuance.

     

    Indo-Africa Postal Leaders Meet

     

    Visit to India Post Mail Processing facility in  Mumbai

     

    Delegates at the closing ceremony of the

    India Africa Postal Leaders Meet

    The Indo-Africa Postal Leaders Meet, the first such event, was hosted by India from June 21st to 25th, 2024. It brought together over 50 senior delegates from 22 African countries, alongside representatives from the Universal Postal Union. The event highlighted India’s successful postal service model and underscored the critical role of postal services in financial inclusion and capacity building. It also opened new avenues for collaboration in postal technology and service delivery under the South-South and Triangular Cooperation framework.

    Delegates visit to Dak Chaupal in

    Navi Mumbai  Region

     

    Tracked Packet Service expansion

     

    On the sidelines of the Asia Pacific Postal Union Executive Council meeting in Siem Reap, Cambodia, on 17th Aug 2024, India Post & Thailand Post signed the commercial document for a competitive bilateral exchange of Tracked Packet service between the two countries. This is an important step towards promoting cross border e-commerce exports.

     

     

     

    DBT disbursal to beneficiaries of Mukhyamantri Majhi Ladki Bahin Yojana

     

    The scheme Mukhyamantri Majhi Ladki Bahin, launched by the Maharashtra Government in June 2024, aims to provide financial assistance and empowerment to women in the state and provides for disbursal of Rs.1,500 every month to eligible women, among other benefits. The IPPB has successfully disbursed approximately 465.5 crores in accounts of 15.51 lakh beneficiaries.

     

    MoU between Department of Posts & Khadi and Village Industries Commission

     

    Unit Verification

    A New Memorandum of Understanding was signed between the Department of Posts & Khadi and Village Industries Commission on 20.8.2024 for Physical Verification of the units set up by first-generation entrepreneurs. This verification will facilitate the adjustment of government subsidy to the loan account of beneficiaries under the Prime Minister’s Employment Generation Programme (PMEGP). Around 1.35 lakh PMEGP units will be verified by the end of FY 2024-25. Proof of concept has been completed successfully, and Roll out for the actual Physical Verification process PAN India will start after the completion of training to Officials of the Department of Posts .

     

    Increasing E-Commerce footprint in the NER

     

    In a major boost to its e-commerce operations, the Department entered into a strategic partnership with Amazon on 27th June 2024 to enhance its delivery services across the Northeast Region (NER). Under this collaboration, consignments booked in Guwahati are seamlessly transmitted and delivered by the Department to all states in the region. The range of items being handled includes apparel, household goods, mobile accessories, beauty products, books, toys, appliances, and sporting goods among others. In just the last two months, approximately 35,000 consignments have been successfully booked, generating a revenue of Rs. 31 lakh. This partnership is a significant step towards strengthening the Department’s e-commerce capabilities in the NER, improving access to essential products, and boosting regional connectivity through its extensive postal network.

     

    Leveraging PM Gati Shakti National Master Plan

     

    The Department of Posts has gone live on the National Master Plan (NMP) portal, marking a key step in enhancing infrastructure and operational planning through geospatial technology. The Department now has its own dedicated layer on the NMP, alongside a separate portal embedded within it. Over 1.29 lakh assets of the Department have been mapped on this platform, organized into 14 data layers (4 administrative and 10 thematic) with detailed attributes for optimized decision-making.

    The use of layers and attributes of other Ministries/Departments on NMP and the Department of Posts’ layers by functional divisions/field formations of the Department will be a vital tool for functional divisions of the Department and administrative units for planning postal infrastructure and operations. Possible use cases are (a) visualization of all postal facilities on a single map for more efficient planning, (b) PIN code mapping, (c) route optimization (trucking routes, postmen’s beat), (d) planning outreach programmes for special schemes, (e) estates planning – ownership of land, category of land – forest etc.

     

     

    In consultation with the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry and Bhaskaracharya Institute for Space Applications and Geoinformatics       (BISAG-N), Gandhinagar, an application has also been developed free of cost for the Department of Posts. With this application, additional assets can be mapped on NMP and already mapped assets can be updated so that postal infrastructure data is the latest available data. Circle/Region/Division /Functional Divisions of the Postal Directorate will be able to use the data.

     

     

     

    Under the able guidance of the Hon’ble Minister of Communications Shri Jyotiraditya Scindia, the Department of Posts seeks to enhance citizens’ quality of life and promote inclusive growth and development nationwide through these new initiatives.

     

    *****

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    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Investor Bulletin: SIPC Protection (Part 1: SIPC Basics)

    Source: Securities and Exchange Commission

    The SEC’s Office of Investor Education and Advocacy and the Securities Investor Protection Corporation (SIPC) are issuing two Investor Bulletins to help educate investors about SIPC protection for brokerage accounts. The first Investor Bulletin (“SIPC Basics”) will provide investors with an overview of how SIPC protection works and what it protects, and the second Investor Bulletin (“Filing a SIPC claim”) will provide investors with an overview for how to file a SIPC claim.

    What is SIPC protection?

    When you open a brokerage account with a SIPC member brokerage firm, SIPC protection helps address your risk of losing your securities and cash held by the firm if it fails or goes out of business.  If a SIPC member brokerage firm fails, SIPC protects its customers against the loss of securities and cash deposited with the SIPC member firm for the purchase of securities.  SIPC protection advances funds of up to $500,000 per customer (including a $250,000 limit for cash claims) to cover a shortfall in customer property. We will discuss how this protection works in more detail below. 

    Who are SIPC member brokerage firms?

    SIPC member brokerage firms are, with narrow exceptions, all securities broker-dealers registered with the SEC.  SIPC members pay annual membership assessments which are used to fund SIPC and its mission.

    Most registered brokerage firms which conduct business with the investing public are SIPC members. SIPC member brokerage firms must state that they are SIPC members in their offices and on their webpage and advertisements.  The narrow exceptions to SIPC membership include brokerage firms whose exclusive business involves selling specific products, like registered open-end mutual funds or variable annuities.  Brokerage firms that are not SIPC members must disclose this fact to customers before or at the time of conducting any securities transactions in a customer’s account.

    A SIPC member’s affiliate, including a parent company or subsidiary, is a separate legal entity and not a member of SIPC unless independently registered.  Accordingly, customers of a foreign subsidiary of a SIPC member firm are not protected by SIPC if the foreign subsidiary fails.

    SIPC members include both introducing brokers and clearing brokers.  The different broker roles create an important difference in how SIPC protection might apply.  An introducing broker generally is a client-facing brokerage firm which interacts with the customer and takes customer orders.  The clearing broker works on the back end, executing customer trades, holding custody of customer property, and issuing statements and confirmations.  Because SIPC protects against losses caused by the failure of a brokerage firm to maintain custody of customer accounts, the failure of an introducing broker may not require SIPC protection. Customer property should be safely held by the clearing broker, which will usually locate a new introducing broker to service the accounts.

    Who are customers?

    In general, you are a customer if you have an investment account with a SIPC-member brokerage firm or have deposited cash with a SIPC-member brokerage firm, for the purpose of purchasing securities.  You do not need to be a U.S. citizen to qualify as a customer.  SIPC protection of customers with multiple accounts is determined by “separate customer” capacity.

    Some of examples of separate capacities include:

    • An individual account;
    • a joint account;
    • a traditional individual retirement account;
    • a Roth individual retirement account;
    • an account for a trust created under state law;
    • an account for a corporation; and
    • an account held by a guardian for a minor.

    Additional information on separate accounts may be found in SIPC’s Series 100 Rules.

    Each separate capacity is treated as a unique customer and protected up to $500,000 for securities and cash (including a $250,000 limit for cash only). Accounts held in the same capacity are combined for purposes of the SIPC protection limits.  Here are some examples to illustrate how SIPC protection limits apply to investors with multiple accounts:

    Example 1:

    Sally has a brokerage account in her name at her brokerage firm.

    SIPC Protection Limit

    Sally has SIPC protection up to $500,000 for her brokerage account.
    Example 2:

    Tim has two brokerage accounts, each in his name, at the same brokerage firm.

    SIPC Protection Limit

    For purposes of SIPC protection, Tim’s accounts are combined. Tim does not have SIPC protection of $500,000 for each account, but has a total of $500,000 SIPC protection for both accounts.
    Example 3:

    Tim and Sally are married and they have a joint brokerage account, in addition to the individual brokerage accounts they each have at the brokerage firm.

    SIPC Protection Limit

    This joint brokerage account of Tim and Sally would have SIPC protection of $500,000, in addition to the SIPC protections of $500,000 that Sally and Tim have for their individual brokerage accounts discussed in Examples 1 and 2.
    Example 4:

    Tim also has a traditional IRA and a Roth IRA at the same brokerage firm.

    SIPC Protection Limit

    In addition to the other SIPC protections in the above examples, each of these IRA accounts would receive up to $500,000 in SIPC protection.

    What is protected?

    SIPC works to return “customer property,” generally meaning customer securities and related cash held by a SIPC-member brokerage firm.  Protected securities include notes; stocks; Treasuries; bonds; CDs; options on securities; investment company shares such as mutual funds, ETFs, and money market funds; and investment contracts that are registered with the SEC under the Securities Act of 1933.

    A brokerage firm may hold your securities as either “customer name securities” – directly registered in your name in a non-negotiable form – or street name securities – owned by you on the brokerage firm’s books and records but registered in the brokerage firm’s name.  Both customer name and “street” name securities are protected by SIPC, although, as discussed below, the registration method affects how the securities are returned to you. 

    Protected securities do not include commodities (such as gold or silver) or futures contracts, unregistered investment contracts, unregistered limited partnerships, fixed annuity contracts, or most types of crypto assets. For additional information on the types of securities SIPC protects, see SIPC’s “What SIPC Protects” webpage (https://www.sipc.org/for-investors/what-sipc-protects).

    In recent years, certain securities have been issued and/or transferred using blockchain or distributed ledger technology, i.e., a crypto asset security.  At this time, many of the crypto asset securities that have been issued may be investment contracts and very few of them are registered in compliance with the federal securities laws.  As noted above, under SIPA an investment contract must be registered with the Commission under the Securities Act of 1933 in order to be a protected security, regardless of whether it is a crypto asset security.

    Cash held in the account for the purpose of purchasing securities is also protected.  Cash placed in the account solely for the purpose of earning interest, however, is not protected.  Investments in currency, such as foreign exchange trading positions, also are not protected.

    What SIPC Does Not Protect

    SIPC protection works to restore to customers the cash and securities that were in their brokerage account when the SIPC-member brokerage firm failed. SIPC protection:

    • does not protect you against the decline in value of your securities
    • does not protect you against non-custody related fraud or misrepresentations such as being sold worthless stock or other securities. (SIPC protection may apply to the fraudulent transfer of your securities)
    • does not protect against losses due to a broker’s bad investment advice or recommendations for inappropriate investments, or for claims that a broker you authorized to buy or sell securities in your account did so in a way that was inconsistent with your overall investment objectives. 
    • does not provide protection for claims of churning – that your broker engaged in excessive trading to generate commissions.
    • does not protect assets held outside of a SIPC-member brokerage firm, even if such assets are reported on an account statement

    Brokerage firms may offer you different options for managing cash in your account.  SIPC provides protection for two common cash management options: either simply leaving the cash in your brokerage account to invest it or placing it in a money market fund (which qualifies as a security for SIPC protection purposes).  Another option offered by some brokerage firms is a bank sweep program.  In a bank sweep program, your brokerage firm automatically transfers (or “sweeps”) unused cash from your brokerage account into a bank account.  There, the cash is protected under banking laws and may be insured within limits by the Federal Deposit Insurance Corporation (FDIC).  Since cash in a bank sweep program is held outside of the brokerage firm, SIPC would not protect these funds if your brokerage firm fails.

    How do I obtain SIPC protection?

    You become eligible to receive SIPC protection simply by becoming a securities customer of a SIPC member brokerage firm.  You do not need to pay additional fees for SIPC protection.  

    What should I do to protect myself?

    Outside of the liquidation of a SIPC member, SIPC cannot intervene to satisfy claims or offer protection when a brokerage firm is still viable.  SIPC is not a regulator, and it has no authority to investigate active brokerage firms and does not have access to account records.  Accordingly, you should be vigilant and take steps when investing through a brokerage firm to protect yourself and maximize your protection should your brokerage firm be liquidated. 

    First, you should verify that you have invested with a SIPC member brokerage firm.  You can find a list of SIPC members on SIPC’s website (https://www.sipc.org/list-of-members/), and you can research registered brokerage firms using BrokerCheck, a service provided by FINRA (https://brokercheck.finra.org/).  You should further ensure that all deposits or transfers are directed to the SIPC member (or a SIPC-member clearing broker) and not to an individual representative or affiliate.

    You should carefully review your account statements and trade confirmations.  Any discrepancies should be brought promptly to the brokerage firm’s attention in writing.  Of particular importance, you should submit a written complaint to your introducing brokerage firm if you notice any unauthorized trading.  The failure to file a complaint about an unauthorized trade may result in the trade being “ratified” – meaning that you are deemed to have accepted and authorized the trade.  If you have any complaint about your account, you should first contact the brokerage firm and see if it can resolve the complaint.  If not, you should contact the SEC, FINRA, or your state securities regulator, documenting any complaints.

    Additional Resources

    Investor Bulletin: SIPC Protection (Part 2: Filing a SIPC Claim) (https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins-102)

    SIPC Brochure: How SIPC Protects You (https://www.sipc.org/media/brochures/HowSIPCProtectsYou-English-Web.pdf)

    SIPC Brochure: The Investor’s Guide to Brokerage Firm Liquidations (https://www.sipc.org/media/brochures/Liquidations-Web.pdf)

    Investor.gov Glossary: Securities Investor Protection Corporation (https://www.investor.gov/introduction-investing/investing-basics/glossary/securities-investor-protection-corporation-sipc)

    FINRA Investor Alert: If a Brokerage Firm Closes Its Doors (https://www.finra.org/investors/insights/if-brokerage-firm-closes-its-doors)

    FINRA: Your Rights Under SIPC Protection (https://www.finra.org/investors/need-help/your-rights-under-sipc-protection)

    FDIC: Understanding Deposit Insurance (https://www.fdic.gov/resources/deposit-insurance/understanding-deposit-insurance/index.html)

    For more information regarding SIPC, please visit SIPC’s website (www.sipc.org).  If you have any questions regarding SIPC and the protection that it provides, you can email SIPC at asksipc@sipc.org.

    Visit the SEC’s website for individual investors, Investor.gov.

    Call OIEA at 1-800-732-0330, ask a question using this online form, or email us at Help@SEC.gov.

    Receive Investor Alerts and Bulletins from OIEA by email or RSS feed. Follow OIEA on Twitter. Like OIEA on Facebook.

    This Investor Alert represents the views of the staff of the Office of Investor Education and Advocacy. It is not a rule, regulation, or statement of the Securities and Exchange Commission (“Commission”). The Commission has neither approved nor disapproved its content. This Alert, like all staff statements, has no legal force or effect: it does not alter or amend applicable law, and it creates no new or additional obligations for any person.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Commerce and Industry Minister Shri Piyush Goyal attends series of meetings and interaction with stakeholders on first day of Australia visit

    Source: Government of India

    Posted On: 23 SEP 2024 7:50PM by PIB Delhi

    On the first day of his visit to Australia, Shri Piyush Goyal, Union Minister for Commerce & Industry had several productive engagements with various stakeholders in Sydney today, September 23, 2024.

    The Minister attended a business roundtable hosted by the Business Council of Australia in which prominent Australian and Indian CEOs participated. The Minister invited Australian business leaders to explore the opportunities presented by the high and sustained economic growth in India.  

    The Minister also met senior representatives from the Australian pension funds. Discussions focused on the robust policies and reform agenda of the Government of India which have boosted investor confidence. The Minister encouraged greater investments into the emerging sectors in the Indian market viz renewable energy, manufacturing, education, fintech, agritech etc.

    The Minister had a productive meeting with Ms Tania Constable, CEO of the Minerals Council of Australia regarding ways to strengthen collaboration in the critical minerals sector between India and Australia. The Minister also met Mr. Joel Katz, Managing Director of the Cruise Lines International Association to explore opportunities for enhancing coastal tourism in India. The Minister interacted with Mr. Robin Khuda, Founder & CEO of AirTrunk and discussed India’s digitalisation growth and the significant potential for collaboration in the data infrastructure sector between India and Australia.

    The Centre for Australia-India Relations hosted a lunch in honour of the Minister with members of their Director network. 

    The Minister interacted with the representatives of the Indian community at a reception hosted by the Consulate General of India at Sydney Cricket Ground. He offered prayers at the BAPS Swaminarayan temple in Parramatta and recalled his previous visit to the temple in 2022. The event was attended inter-alia by Hon Dr Andrew Charlton MP, Chair of Parliamentary Friends of India and Hon Warren Kirby, Member of NSW legislature and Co-chair of NSW Parliamentary Friends of India. 

    Before proceeding to Adelaide on 24th September 2024, the Minister’s official bilateral engagements include the reception hosted in his honour by Australia-India Business Council (AIBC) and NSW Parliamentary Friends of India in the Parliament of New South Wales. A number of political dignitaries and prominent business representatives are expected to attend the event. 

    ***

    AD/VN

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Minister Shri Jyotiraditya M. Scindia addresses press conference to share important decisions and achievements taken by the Department of Telecommunications in the 100 days of the third term of Prime Minister Shri Narendra Modi.

    Source: Government of India

    Union Minister Shri Jyotiraditya M. Scindia addresses press conference to share important decisions and achievements taken by the Department of Telecommunications in the 100 days of the third term of Prime Minister Shri Narendra Modi.

    Shri JyotiradityaScindia says “Initiatives aims to ensure that digital and infrastructural links are ubiquitous, facilitating access to essential services and opportunities to all.”

    These initiatives reaffirm to expanding and enhancing India’s Telecom ecosystem, for a more digitally empowered future

    DoT’s initiative,’Ek Ped MaaKe Naam’ App also gets launched, combining environmental responsibility with a personal touch

    Posted On: 23 SEP 2024 5:53PM by PIB Delhi

    The Minister of Communications (Department of Telecom & Department of Post) and Development of Northeastern Region (DONER), Shri Jyotiraditya M Scindia today said that Prime Minister Shri Narendra Modi’s governmenthas prioritized connectivity for every citizen across the nation. He said, the initiatives of Department of Telecommunications aim to ensure that digital and infrastructural links are ubiquitous, facilitating access to essential services and opportunities. He emphasized that maintaining this connectivity is crucial for fostering inclusive growth and development throughout India.

    Shri Jyotiraditya M Scindia along with Minister of State for Communications and Rural Development, Dr. Pemmasani Chandra Sekharwas addressing the media on achievements of the Ministry of Communications (DoT& DoP) and Ministry of Development of Northeastern Region (DONER)in 100 days of the Government in New Delhi. Secretary (T), Secretary (DoP), Secretary DONER and senior officials of the ministries were present.

    Shri JyotiradityaScindia also launched ‘Ek Ped Maa Ke Naam(EPKMN) App, a uniqueinitiative of DoT, where citizens can plant a tree in honour of their mother and record the location, latitude, longitude, and timestamp of the dedicated tree.The app allows them to update the tree’s growth by uploading a new image every 30 days, allowing for continuous tracking.(The android application can be downloaded from https://usof.gov.in/en/ek-ped-maa-ke-naam).

     

    Highlighting the accomplishments of the Department of Communications during the first 100 days of the government, Minister Scindia gave a detailed outline of the work done. He pointed out that DoT has successfully completed several key initiatives as part of the Government of India’s 100-day programme. He said, during this period, DoT has made significant strides in strengthening the four goals of a developed telecom ecosystem – Samaveshit (ubiquitous connectivity fuelling inclusive growth), Viksit (developed India through triad of perform, reform and transform), Tvarit (accelerated development and swift resolution), and Surakshit (safely and securely). The major achievements of 100-day programme are:

     

    Samaveshit

    Under various initiatives funded by the Digital Bharat Nidhi (Erstwhile Universal Service Obligation Fund (USOF)), 4G mobile coverage is being expanded to uncovered villages across India. These efforts are focused on regions such as aspirational districts, the North-Eastern region, border areas, islands, and areas affected by left-wing extremism. A total of 7,101 4G mobile towers have been commissioned by Telecom Service Providers (Reliance Jio, Bharti Airtel & BSNL) under various Digital Bharat Nidhi funded 4G schemes including 4G Saturation scheme. Out of these 4G towers 2,618Towers have been made on-air since June 2024.

     

    5G technology has reached almost all districts of India. As of today, 98% districts in India have presence of 5G technology thereby empowering citizens with highspeed data network. 5G networks have been rolled out in all States/ UTs across the country and more than 4.5 lakh 5G Base Transceiver Stations (BTSs) have been installed across the country.

     

    Viksit

    Hon’ble Prime Minister Shri Narendra Modi launched the Bharat 6G Vision in March 2023 with the objective to be a front-line contributor in design, development and deployment of 6G technology by 2030. In line with the Bharat 6G Vision and to support India’s prominence in 6G technology and develop the 6G RAN for the world, the DoT invited proposals from academia, industry, and other bodies engaged in R&D. So far 111 project proposalshave been processed for funding to expedite the research under “Accelerated research on 6G Ecosystem”.

     

    • 100 5G Labs 

    Labs with indigenously developed 5G technology are being set up at 100 institutions, equally distributed across four zones in the country. The labs are being set up with the aim of capacity building in new telecom technologies and creating use cases in various socio-economic sectors for 5G technologies in collaboration with academia and start-ups. From June 2024 onwards, 41 out of the total 100 labs have been installed making the cumulatively installed labs to 81.

     

     

     

    A Centre of Excellence (CoE) on “Classical and Quantum Communications for 6G” has been established at IIT Madras.Another MoU has been signed between the Telecom Centre of Excellence (TCOE) India and Visvesvaraya Technological University (VTU) – Visvesvaraya Research & Innovation Foundation (VRIF) to establish a Centre of Excellence (CoE) in Quantum Technology, focusing on associated 5G/6G technologies. TheseCoE will serve as a hub for innovation bringing together industry and academic experts to collaborate on cutting edge project in advance telecommunication technologies to foster and spearhead the development and deployment of 6G technology

     

    A MoU has been signed between TCoE India and National Forensic Sciences University (NFSU) Gandhinagar for setting up of Centre of Excellence on Telecom Security. The MoU envisages strengthening the National cyberspace by securing the Telecom network and to develop an Indian telecom network security stack to enhance security of the nation’s communication infrastructure.

     

     

    Sangam Digital Twin with AI Driven Insights:Digital Twin with AI-Driven Insights is an initiative to revolutionize infrastructure planning. This two-stage initiative began with a creative exploration phase designed to build confidence among participants through networking events.Over 150 organizations and experts participated in Stage-I in the form of networking events held in July 2024, demonstrating a willingness and foundational capability to develop the envisioned ecosystem for advanced infrastructure planning.In the Stage-II of Sangam development and demonstration of specific use cases are being planned.

     

    PoC of Metro route planning: DoT, Delhi Metro Rail Corporation (DMRC) and Telecom Service Providers (TSPs) have successfully conducted a Proof of Concept (PoC) to demonstrate the feasibility of using aggregated telecom data for metro route planning addressing privacy challenges. PoC explored solution’s flexibility to evolve and tackle ridership issues in ongoing metro projects by accurately identifying catchment areas, analysing arrival times, assessing interchange durations, utilization optimize operations, generating an Origin-Destination (OD) matrix for metro network planning and improving ongoing operational strategies. The promising results achieved endorse the Sangam Digital Twin initiative and represent a significant first step.

    To boost domestic manufacturing, investments and export in the telecom and networking products PLI scheme with a financial outlay of ₹ 12,195 Crores over a period of 5 years has been initiated. So far, 42 PLI beneficiary companies, collectively invested Rs. 3,718 crores achieved sales of Rs. 57,498 crore including export of Rs. 11,506 crores and direct employment of 22,315.

     

    Tvarit

    MSME Certification assistance scheme:DoTlaunched reimbursement scheme aimed at easing financial burdens for startups and Micro & Small Enterprises (MSEs) in the telecom sector. With the objective of fostering domestic manufacturing, attracting investments and enhancing exports, the scheme will reimburse up to INR 50 lakhs per startup or MSE for testing and certification costs essential for product quality and market access.

    With an objective of improving the telecom network performance, benchmarks will be gradually tightened for key network parameters like network availability, call drop rates, packet drop rates, etc. In this regard, TRAI has released its revised regulations, “The Standards of Quality of Service of Access (Wirelines and Wireless) and Broadband (Wireline and Wireless) Service Regulations, 2024 (06 of 2024)’.

    To update the existing laws and to address the challenges of the Telecom sector, Central Government enacted Telecommunications Act, 2023 on 24th Dec 2023. The Act replaces colonial era’s Indian Telegraph Act, 1885 and Indian Wireless Telegraphy Act, 1933. Enforcement of its provisions and rules will enable effective and modern regulation of Telecom sector. It will provide clearly defined framework for Spectrum assignment and its optimal utilization, Effective and efficient RoW framework, Strong provisions for National Security and Public emergency, etc

    In accordance with section 1(3), the Central Government has on 21.06.2024 issued Gazette Notification enforcing sections 1,2, 10 to 30, 42 to 44, 46, 47, 50 to 58, 61 and 62 of the Telecommunications Act w.e.f. 26.06.2024. The Department has also, on 04.07.2024, notified sections 6 to 8, 48 and 59(b) of the Act w.e.f. 05.07.2024.

    Draft Rules for Security related provisions have been published for public consultation. Public consultation on draft rules for Adjudication, Amateur Station Operator and Commercial Radio Operator’s Certificate of Proficiency to operate Global Maritime Distress and Safety System has been completed. Two set of rules i.e. Telecommunications (Administration of Digital Bharat Nidhi) Rules, 2024 and Telecommunications (Right of Way) Rules, 2024 have come into force through gazette notification dated 31.08.2024 and 18.09.2024 respectively.

    • Spectrum Auction

    Spectrum Auction in 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2500 MHz, 3300 MHz and 26 GHz bands was held in June 2024. A total of 141.4 MHz of spectrum in the 900 MHz, 1800 MHz, 2100 MHz and 2500 MHz bands were sold at a market determined price of Rs. 11340.78 crores.

     

    Surakshit

    DoThas developed an online secure Digital Intelligence Platform (DIP) under Digital Intelligence Unit (DIU) Project for sharing information related to misuse of telecom resources among the stakeholders on near real time basis for prevention of cyber-crime and financial frauds. Different stakeholders are being onboarded on it including Ministry of Home Affairs (MHA), law enforcement agencies, RBI, banks, financial institutions (FIs), GSTN, UIDAI and social media platforms. 32 States/UTs police, Securities Exchange Board of India (SEBI), National Payment Corporation of India (NPCI) have on boarded this platform during Jul-Aug 2024.

    Till date 750 users of various stakeholders have on boarded on DIP. These stakeholders include field units of Department of Telecommunications (DoT), telecom service providers (TSPs), MHA, Indian Cybercrime coordination centre (I4C), National Intelligence Agency (NIA), 32 States/UTs police, 460 banks, FIs, fintechs, Financial Intelligence Unit (FIU), SEBI, GSTN, IRCTC and social media platforms

     

    The Department of Telecommunications, through these 100 days achievements, reaffirm to expanding and enhancing India’s telecom infrastructure, ensuring seamless connectivity, promoting digital inclusion, fostering innovation and preparing the country for a more digitally empowered future.

    ****

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    MIL OSI Asia Pacific News –

  • MIL-OSI USA: CFTC Orders Illinois Futures Commission Merchant to Pay More Than $980,000 for Supervision Failures

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — The Commodity Futures Trading Commission today issued an order filing and settling charges against NinjaTrader Clearing, LLC dba NinjaTrader, Tradovate and TransAct Futures (NTC), a registered Futures Commission Merchant that operates out of Deer Park, Illinois.

    The CFTC order finds NTC failed to have adequate policies and procedures governing the emergency handling of accounts and did not exercise sufficient oversight over its employees’ handling of accounts in response to a statutory restraining order issued in CFTC v. Patel, Case No. 22-cv-80092 (S.D. Fla. 2022). 

    The CFTC order requires NTC to pay a $750,000 civil monetary penalty, cease and desist from further violations of CFTC regulations, and pay restitution in the amount of $233,425 to the court-appointed receiver for distribution to the victims of the fraud prosecuted in that action. 

    Case Background

    The CFTC order finds that from at least Dec. 31, 2020, to the present, NTC failed to diligently supervise its employees’ handling of accounts that needed to be frozen, disabled, or otherwise restricted on an emergency basis. 

    Specifically, in January 2022, NTC failed to diligently supervise its employees’ handling of accounts NTC held or managed under the name Rajiv Patel. NTC did not have adequate policies and procedures and did not adequately oversee its employees to ensure NTC implemented the SRO entered by the court in connection with the fraud perpetrated by Patel and his company, Bluprint LLC.

    As a result of these deficiencies, NTC failed to take diligent steps to understand and implement the SRO. These failures resulted in positions in the Patel accounts remaining open for several days after the SRO was served, during which time they lost more than $200,000 in value.

    The Division of Enforcement staff responsible for this matter are Elsie Robinson, Monique McElwee, Jeff Le Riche, Christopher Reed, and Charles Marvine. 

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Auction for Sale (re-issue) of (i) ‘7.04% GS 2029’, ‘7.23% GS 2039’ and (iii) ‘7.09% GS 2054’

    Source: Government of India (2)

    Posted On: 23 SEP 2024 7:10PM by PIB Delhi

    The Government of India (GoI) has announced the sale (re-issue) of (i) “7.04% Government Security 2029” for a notified amount of ₹12,000 crore (nominal) through price based auction using multiple price method, (ii) “7.23% Government Security 2039” for a notified amount of ₹12,000 crore (nominal) through price based auction using multiple price method and (iii) “7.09% Government Security 2054” for a notified amount of ₹10,000 crore (nominal) through price based auction using multiple price method. GoI will have the option to retain additional subscription up to ₹2,000 crore against each security mentioned above. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on September 27, 2024 (Friday).

    Up to 5% of the notified amount of the sale of the securities will be allotted to eligible individuals and institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

    Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on September 27, 2024. The non-competitive bids should be submitted between 10:30 a.m. and 11:00 a.m. and the competitive bids should be submitted between 10:30 a.m. and 11:30 a.m.

    The result of the auctions will be announced on September 27, 2024 (Friday) and payment by successful bidders will be on September 30, 2024 (Monday).    

    The Securities will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time.

    ****

    NB/KMN

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    Read this release in: Hindi

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Apply Now: FEMA Assistance Available for Damage after July Storms and Flooding

    Source: US Federal Emergency Management Agency 2

    strong>CHICAGO – Illinois homeowners and renters in Cook, Fulton, Henry, St. Clair, Washington, Will, and Winnebago counties affected by the severe storms, straight-line winds, tornadoes and flooding on July 13 – 16, 2024, may now call or go online to apply for disaster assistance from FEMA.

    If you have insurance coverage for the damage to your property, first file a claim. If you have uninsured or underinsured losses, apply for FEMA assistance by going online to DisasterAssistance.gov, downloading the FEMA app or calling the FEMA Helpline at 800-621-3362. If you use video relay service, captioned telephone service or others, give FEMA your number for that service. When calling the FEMA Helpline, multilingual operators are available (press 2 for Spanish and 3 for other languages).

    FEMA can provide money to eligible applicants for help with serious needs, paying for a temporary place to live, home repairs and other needs not covered by insurance.

    Have the following information ready when you apply with FEMA: 

    • A current phone number where you can be contacted,
    • Your address at the time of the disaster and the address where you are now staying,
    • Your social security number (or the social security number of a minor child in your household, if you’re applying on their behalf),
    • A general list of damage and losses,
    • Banking information if you choose direct deposit, and
    • If insured, the policy number or the agent and/or the company name.

    When applying, one member of a household needs to comply with citizenship criteria. That means a minor child who is a citizen, non-citizen national or qualified non-citizen can have a parent or guardian who is not eligible apply for assistance on the child’s behalf. Learn more about citizenship and immigration status requirements to qualify for disaster assistance by visiting www.fema.gov/assistance/individual/program/citizenship-immigration-status. 

    Getting help to those who need it most is FEMA’s priority. Recovery teams will be out soon in the neighborhoods affected by the disaster to provide one-on-one support to individuals. Recovery centers will also be opening for individuals to get additional in-person help. 

    For even more information about the disaster recovery operation in Illinois, visit www.fema.gov/disaster/4819.  

    MIL OSI USA News –

  • MIL-OSI USA: DoD Commits $500 Million for Women’s Health Research, Supports Better Care for All Women

    Source: United States Department of Defense

    The Department of Defense (DoD) is working to ensure that research conducted across the Department addresses health disparities faced by women, including conditions that affect women uniquely, disproportionately, or differently. As part of the Department’s broader efforts to support the health of women Service members, veterans, and beneficiaries (such as spouses and dependents) to enhance the medical readiness of the force—and consistent with the President’s Executive Order on Advancing Women’s Health Research and Innovation—DoD is publicly announcing a series of new actions and commitments to advance women’s health research by:

    • Spending half a billion dollars each year on women’s health research, primarily through the Congressionally Directed Medical Research Programs (CDMRP);
    • Adopting a new research policy to ensure that women’s health is considered during every step of the research process that will apply to relevant research funded through the CDMRP beginning on October 1, 2024;
    • Standardizing CDMRP and Military Health System Research funding opportunity announcements to encourage applicants to consider research on health areas and conditions that affect women; and
    • Committing DoD’s Small Business Innovation Research (SBIR) program and the Small Business Technology Transfer (STTR) program to increase its investments in supporting innovators and early-stage small businesses engaged in research and development on women’s health.

    These new announcements build on recent work that DoD has already done to advance women’s health research—including the establishment of a joint collaborative to improve women’s health research with the Department of Veterans Affairs (VA), DoD’s new Military Women’s Health Research Program, and the appointment of Dr. Lynette Hamlin as the first-ever dedicated Director of the Military Women’s Health Research Program at the Uniformed Services University of Health Sciences—as well as DoD’s prior investments in women’s health research.

    Investing in women’s health research and evidence-based care is critical to meeting the health care needs of the women served by DoD. The DoD provides medical care to more than 230,000 active-duty Service women, nearly 2 million women military retirees, and to the family members of the active force and of retirees. Compared to men, this population experiences more than twice the rate of conditions in hematological, genitourinary, endocrine, nutrition, and immunity-related disorder categories. Additionally, women’s rates for illness and injury-specific diagnoses, such as those associated with the musculoskeletal system and connective tissue, are more than 1.5 times those of male rates. DoD’s systematic surveillance and research of health conditions among Service women at a population level will bolster treatment options, improve patient care, and support breakthrough technologies and resources for women inside and outside of the military health system. Information on specific DoD policy efforts can be found below.

    Congressionally Directed Medical Research Programs
    CDMRP funds a wide variety of specialized health research areas that affect women, such as Alzheimer’s disease, multiple sclerosis, lupus, orthopedic and musculoskeletal injuries, and various cancers. In Fiscal Year (FY) 2022 and FY 2023, CDMRP funded 751 grants, produced 625 studies, and supported 706 researchers. For FY 2024, depending on the applications received, DoD anticipates investing more CDMRP funding for women’s health research than in previous years. These funds will be used to support research on topics such as rheumatoid arthritis, chronic fatigue, eating disorders, and gynecological cancers.

    In addition to this new commitment, DoD adopted a new policy that will require researchers interested in CDMRP funding to consider sex as a biological variable in study design and analysis. Intentional consideration of biological variables, like sex, in medical research improves our understanding of health and disease in men and women. Under the new policy, CDMRP-funded research must consider the known and potential sex differences in disease prevalence, presentation, and outcomes. Peer and programmatic panels will review applications for how sex as a biological variable is incorporated into the proposed research and data analysis plans.

    This new policy aligns with a similar policy adopted by the National Institutes of Health and will take effect on October 1, 2024. The new policy will apply to applications submitted for FY 2025 CDMRP funding opportunities, contingent on FY 2025 funding for CDMRP-managed programs. White House and DoD officials highlighted this change at DoD’s 2024 Military Health System Research Symposium, the Department’s premier scientific meeting.

    Accounting for Women’s Health Across DoD’s Research Programs and Processes
    DoD has taken action to ensure that women’s health is considered throughout the research application process. For instance, the CDMRP, the Uniformed Services University of Health Sciences (USUHS), and the Military Health System Research Program have all included standardized language in their FY 2024 funding opportunity announcements to encourage research on women’s health, including consideration of sex as a biological variable and its relationship to socioeconomic factors in affecting health outcomes. Additionally, for these programs, DoD has implemented policies to ensure that reviewers consider women’s health when evaluating research proposals, where appropriate.

    Uniformed Services University of Health Sciences
    The USUHS established the Military Women’s Health Research Program (MWHRP) in 2023, under the leadership of Dr. Lynette Hamlin, the program’s inaugural Director. The MWHRP funds $1.67 million in research grants annually, sponsors publications and webinars to share important research findings, and encourages women to participate in the SBIR program and the STTR program. Over the last five years, USUHS has sponsored 76 grants, and produced 32 presentations and 152 publications specific to women’s health research.

    USUHS also established the Military Women’s Health Research Consortium to develop and guide best practices for the clinical care of women in the Military Health System. Recent research focus areas include studying interventions for physical and emotional pain due to uterine fibroids, evaluating treatment options for women with low back pain, and studying the effects of prenatal mental health support.

    Defense Health Program Small Business Innovation Research and Small Business Technology Transfer Programs
    The Defense Health Agency (DHA) SBIR and STTR programs are statutorily required programs established to increase the participation of small businesses in federal research and development. These programs enable DHA to spark the development of future technologies to improve warfighter health and survival. DHA SBIR and STTR revised the DoD Broad Agency Announcement (BAA), the funding mechanism utilized for these programs, to encourage participation in innovation and entrepreneurship by women. Additionally, to enhance investments in applied research and practice focused on women’s health, SBIR and STTR have requested women’s health research topics from stakeholders as part of the FY 2025 BAA development process.

    DoD/VA Women’s Health Research Collaborative
    To further our collaboration and partnership with the VA, the joint DoD/VA Health Executive Committee established a Women’s Health Research Collaborative in 2024, which will explore opportunities to promote joint efforts to advance women’s health research and improve evidence-based care for the women they serve: Service members, veterans, and their spouses, surviving spouses, dependents, and family caregivers. Additionally, the Collaborative will increase coordination with the goal of improving care and care delivery across the lifespan of women Service members, veterans, and other beneficiaries. The Collaborative will also advance research on key women’s health issues and develop a roadmap to close pressing research gaps, including those specifically affecting Service women and women veterans.

    Moreover, the Department ensures our providers are trained in gender-specific care. Through the DoD/VA Women’s Health Working Group, two mini-residencies are held annually to build provider proficiency. The DoD/VA Women’s Musculoskeletal Mini-Residency and DoD/VA Women’s Mental Health Mini-Residency offer health care providers, from both departments, opportunities to learn about the latest research while strengthening skills and knowledge in how to assess, diagnose, and treat women Service members, veterans, and other beneficiaries.

    The DoD/VA also developed a Women’s Midlife Health Concerns Working Group to develop a needs assessment tool that will be deployed to women Service members, veterans, and other beneficiaries to gather their input on their midlife health concerns, including menopause and cardiovascular health. This group will make recommendations and develop tools to build provider proficiency in appropriately assessing and treating midlife health concerns.

    Additional DoD actions to support the health needs of women Service members, retirees, and their eligible family members include the establishment of the Women’s Midlife Telehealth Clinic – the first U.S.-based study examining birth outcomes between births attended by Certified Nurse Midwives and physicians focused on births within the MHS – and the provision of world-class cancer care and translational research at the Murtha Cancer Center at Walter Reed Gynecological Cancer Center of Excellence.

    MIL OSI USA News –

  • MIL-OSI: Habeas Corpus (constitutional challenge, “Amparo”) granted against the Ministry of Energy, Mexico – BERDEJA Y BUTLER CONSULTORES, S.C.

    Source: GlobeNewswire (MIL-OSI)

    Santa Fe, Mexico City, Sept. 23, 2024 (GLOBE NEWSWIRE) —

    Amparo en contra de la Secretaría de Energía, México

    Verfassungsbeschwerde gegen das Energieministerium, Mexiko

    Berdeja y Butler Consultores, S.C. (“the Firm”) has achieved a significant legal victory securing an Amparo against  Mexico’s Ministry of Energy, challenging its Decree imposing maximum tariffs on ‘UVIEs’ -verifiers for conformity in electrical installations to the Mexican Official Standards (“NOMs”), “the Decree”, dated September 5, 2022.

    The Amparo was granted in October 2023 and ratified on 4th July 2024 by the First Collegiate Circuit Court in Administrative Matters Specialising in Economic Competition, Broadcasting & Telecommunications.

    The illegal imposition of maximum rates discouraged the work of the UVIEs, promoted simulation, and generated uncertainty for customers, who, due to the improper actions of the authorities, believed that below-market rates were valid; that is, below the rates formally registered by each UVIE with the Ministry of Economy. In other words, the Ministry of Energy was distorting the market and services provided by the UVIEs, and their economics because they had to judicially defend themselves from the now judged illegal Decree.

    The Decree violates the principles of statement of reasons, foundation -constitutional, conventional, and legal–, legal certainty, free competition, job freedom, efficient economy, and the supremacy of the rule of law by prioritising a public interest artificially constructed by the Decree.

    The granting of the definitive Amparo will generate the following benefits: 1. Recover legal and economic certainty in the UVIE-clients relationship; 2. Remove the distortion of UVIE rates in the relevant market; 3. Eliminate the constraint on the UVIE’s job freedom; 4. Reconfirm that the powers of the Ministry of Energy and the Ministry of Economy are limited; it constrained their arbitrariness; 5. Clarify the difference between the regulated electricity industry and the electricity sector; 6. Enforce the international treaties to which Mexico is a party, as well as Mexico’s Constitution and laws; in summary, the rule of law in Mexico.

    There are key industries that need to be properly defended against legislative changes or acts of authority. These include energy: oil & gas, and clean energies; mining for lithium & open-pit mines; and water, particularly pre-existing or granting of future concessions. When acts or ommisions of public authorities violate human rights, the Constitution is the best defense; however, if it is also violated, Conventional mechanisms for the defense and protection of international investments can be activated.

    The Firm trusts that the next President of Mexico will promote the energy sector and the rule of law, and hopes that the administration of justice will not be adversely affected by any reform to the Judiciary Power. Likewise the Firm will continue working towards legal certainty and regulatory compliance to effectively and efficiently protect its clients’ interests, and the investment attraction of Mexico; otherwise, the Firm is ready to help defending business interests in Mexico.

    Please do not hesitate to contact Carlos Berdeja Prieto, Berdeja y Butler Consultores, S.C., carlos_berdeja@bybconsultores.com; (+52)5554362055, in case any business plan related to Mexico needed to be implemented or defended.

    #Verfassungsrecht #Amparo #ConstitutionalLaw #Energie #Energia #Energy #Mexiko #México #Mexico #JuristischeDienstleistungen #LegalServices #ServiciosLegales #Investitionen #Investments #Inversiones #RegulatorischeCompliance #CumplimientoRegulatrorio #RegulatoryCompliance #WirtschaftlicherWettbewerb #EconomicCompetition #CompetenciaEconomica

    The MIL Network –

  • MIL-OSI Russia: Government meeting (2024, No. 28)

    MIL OSI Translation. Region: Russian Federation –

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

    1. On the draft federal law “On the federal budget for 2025 and for the planning period of 2026 and 2027”

    2. On the forecast of socio-economic development of the Russian Federation for 2025 and for the planning period of 2026 and 2027

    3. On the draft of the main directions of the unified state monetary and credit policy for 2025 and the period 2026 and 2027

    4. On the draft federal law “On the budget of the Pension and Social Insurance Fund of the Russian Federation for 2025 and for the planning period of 2026 and 2027”

    5. On the draft federal law “On Amending Article 1 of the Federal Law “On the Minimum Wage””

    6. On the draft federal law “On insurance rates for compulsory social insurance against industrial accidents and occupational diseases for 2025 and for the planning period of 2026 and 2027”

    7. On the draft federal law “On the budget of the Federal Fund for Compulsory Medical Insurance for 2025 and for the planning period of 2026 and 2027”

    8. On the draft federal law “On Amendments to Article 5 of the Federal Law “On the Peculiarities of Legal Regulation of Relations in the Spheres of Health Protection, Compulsory Medical Insurance, Circulation of Medicines and Circulation of Medical Devices in Connection with the Admission to the Russian Federation of the Donetsk People’s Republic, the Lugansk People’s Republic, the Zaporizhia Region and the Kherson Region”

    9. On the draft federal law “On Amendments to the Federal Law “On Compulsory Medical Insurance in the Russian Federation””

    10. On the draft federal law “On Amendments to the Federal Law “On Joint Stock Companies” and Article 32 of the Federal Law “On Limited Liability Companies””

    The bill is aimed at regulating public relations related to management in joint-stock companies and limited liability companies.

    11. On the draft federal law “On Amendments to Article 19 of the Law of the Russian Federation “On Space Activities” and Article 7 of the Federal Law “On the State Corporation for Space Activities “Roscosmos””

    The bill is aimed at establishing the obligation of Russian organizations and citizens who are the owners of space objects planned for launch into outer space from the territory of the Russian Federation or the territory of a foreign state (if registration is not expected in the Russian Federation) to submit information about space objects to the Roscosmos State Corporation, including their functional characteristics and technical condition.

    12. On the draft federal law “On Amendments to Articles 5 and 11 of the Federal Law “On Emergency Rescue Services and the Status of Rescuers””

    The draft law proposes to empower the Government to establish the procedure for the activities of professional emergency rescue services, professional emergency rescue teams performing blowout prevention work at drilling and oil, gas and gas condensate production facilities and underground gas storage facilities, requirements for their composition and equipment, as well as the procedure for calculating the cost of servicing drilling and oil, gas and gas condensate production facilities and underground gas storage facilities.

    Moscow, September 23, 2024

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

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

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

    http://government.ru/meetings/52779/

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

    MIL OSI Russia News –

  • MIL-OSI: Red Cat Holdings Reports Financial Results for Fiscal First Quarter 2025 and Provides Corporate Update

    Source: GlobeNewswire (MIL-OSI)

    SAN JUAN, Puerto Rico, Sept. 23, 2024 (GLOBE NEWSWIRE) —  Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or “Company”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, reports its financial results for the fiscal first quarter ended July 31, 2024 and provides a corporate update.

    Recent Operational Highlights:

    • Presented drone solutions to high-level officials, at multiple Defense Conferences, including the U.S Marine Corps (Modern Day Marine), domestic and international Special Operations Forces (SOF Week), and European Union and NATO forces at Eurosatory 2024 in Paris, France.
    • Announced development of a new Family of Small ISR and Precision Strike Systems at Eurosatory 2024.
    • Recently closed FlightWave asset purchase agreement.
    • Launched Robotics and Autonomous Systems Industry Consortium called Red Cat Futures Initiative.

    First Quarter 2025 Financial Highlights:

    • Quarterly revenue of $2.8 million, representing 59% year-over-year growth.
    • Ended the quarter with cash of $7.7 million.
    • Guidance of $50-$55 million for calendar year 2025 exclusive of government or NATO programs of record.
    • Record backlog of $13 million.

    “Red Cat continues to see significant global demand and year-over-year growth with a strong pipeline and backlog,” said Jeff Thompson, Red Cat Chairman and Chief Executive Officer. “This is being driven by strong domestic and international adoption and sales across our entire Family of Systems, which now includes the Edge 130 Blue. Our guidance for the upcoming 2025 calendar year of $50 – $55 million will continue our growth trend as we await news around the U.S. Army’s Short-Range Reconnaissance Program of Record and prepare to scale up production capacity.”

    “We are reporting 59% year-over-year growth and $13 million in backlog for the first quarter of fiscal 2025,” stated Leah Lunger, Chief Financial Officer. “Having officially closed the acquisition of FlightWave Aerospace System, we look forward to integrating the Edge 130 Blue into our Family of Systems, which will open new revenue streams and partnership opportunities with companies in our Futures Initiative. We also have significant market potential for NDAA compliant FPV precision strike drones within our innovation roadmap.”

    Conference Call Today

    CEO Jeff Thompson and CFO Leah Lunger will host an earnings conference call at 4:30 p.m. ET on Tuesday, September 23, 2024 to review financial results and provide an update on corporate developments. Following management’s formal remarks, there will be a question-and-answer session.

    Interested parties can listen to the conference call by dialing 1-844-413-3977 (within the U.S.) or 1-412-317-1803 (international). Callers should dial in approximately ten minutes prior to the start time and ask to be connected to the Red Cat conference call. Participants can also pre-register for the call using the following link: https://dpregister.com/sreg/10192508/fd6e5cff60

    The conference call will also be available through a live webcast that can be accessed at:
    https://event.choruscall.com/mediaframe/webcast.html?webcastid=TD6F4UVA

    A replay of the webcast will be available until December 22, 2024 and can be accessed through the above link or at www.redcatholdings.com. A telephonic replay will be available until October 7, 2024 by calling 1-877-344-7529 (domestic) or 1-412-317-0088 (international) and using access code 2058195.

    About Red Cat, Inc.
    Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, Red Cat has developed a bleeding-edge Family of ISR and Precision Strike Systems including the Teal 2, a small unmanned system offering the highest-resolution thermal imaging in its class, the Edge 130 Blue Tricopter for extended endurance and range, and FANG™, the industry’s first line of NDAA compliant FPV drones optimized for military operations with precision strike capabilities.  Learn more at www.redcat.red.

    Forward Looking Statements
    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Form 10-K filed with the Securities and Exchange Commission on July 27, 2023. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.

    Contact:

    INVESTORS:
    E-mail: Investors@redcat.red

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

    RED CAT HOLDINGS
    Condensed Consolidated Balance Sheets
           
        July 31,     April 30,
        2024       2024  
    ASSETS          
               
    Cash and marketable securities $ 7,732,763     $ 6,067,169  
    Accounts receivable, net   681,775       4,361,090  
    Inventory, including deposits   10,667,676       8,610,125  
    Intangible assets including goodwill, net   12,612,560       12,882,939  
    Other   6,260,457       7,473,789  
    Equity method investee   —       5,142,500  
    Note receivable   —       4,000,000  
               
    TOTAL ASSETS $ 37,955,231     $ 48,537,612  
               
    LIABILITIES AND STOCKHOLDERS’ EQUITY          
               
    Accounts payable and accrued expenses $ 3,428,538     $ 2,703,922  
    Debt obligations   599,570       751,570  
    Operating lease liabilities   1,471,589       1,517,590  
    Total liabilities   5,499,697       4,973,082  
               
    Stockholders’ capital   126,002,642       124,690,641  
    Accumulated deficit/comprehensive loss   (93,547,108 )     (81,126,111 )
    Total stockholders’ equity   32,455,534       43,564,530  
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 37,955,231     $ 48,537,612  
               
    Condensed Consolidated Statements of Operations      
                     
        Three months ended      
        July 31,       
        2024     2023  
      Revenues $ 2,776,535     $ 1,748,129  
                     
      Cost of goods sold   3,259,926       1,573,464  
                     
      Gross (loss) profit   (483,391 )     174,665  
                     
      Operating Expenses              
      Research and development   1,626,440       1,353,551  
      Sales and marketing   2,041,511       1,288,760  
      General and administrative   3,483,095       2,863,758  
      Impairment loss   93,050       —  
      Total operating expenses   7,244,096       5,506,069  
      Operating loss   (7,727,487 )     (5,331,404 )
                     
      Other expense   4,688,889       262,891  
                     
      Net loss from continuing operations (12,416,376 )     (5,594,295 )
                     
      Loss from discontinued operations   —       (242,573 )
      Net loss $ (12,416,376 )   $ (5,836,868 )
                     
      Loss per share – basic and diluted $ (0.17 )   $ (0.11 )
                     
      Weighted average shares outstanding – basic and diluted   74,500,480       54,935,339  
                     
    Condensed Consolidated Statements of Cash Flows
         
          Three months ended July 31,  
          2024       2023  
    Cash Flows from Operating Activities                
    Net loss from continuing operations   $ (12,416,376 )   $ (5,594,295 )
    Non-cash expenses     6,755,639       1,522,611  
    Changes in operating assets and liabilities     3,312,325       (2,854,385 )
    Net cash used in operating activities     (2,348,412 )     (6,926,069 )
                     
    Cash Flows from Investing Activities                
    Proceeds from sale of equity method investment and note receivable     4,400,000       —  
    Proceeds from sale of marketable securities     —       4,888,399  
    Other     (99,957 )     (5,054 )
    Net cash provided by investing activities     4,300,043       4,883,345  
                     
    Cash Flows from Financing Activities                
    Payments of debt obligations, net     (152,000 )     (137,989 )
    Payments related to employee equity transactions     (134,037 )     (8,520 )
    Net cash used in financing activities     (286,037 )     (146,509 )
                     
    Net cash used in discontinued operations     —       (118,295 )
                     
    Net increase (decrease) in Cash     1,665,594       (2,307,528 )
    Cash, beginning of period     6,067,169       3,260,305  
    Cash, end of period     7,732,763       952,777  
    Less: Cash of discontinued operations     —       (15,021 )
    Cash of continuing operations, end of period     7,732,763       937,756  
    Marketable securities     —       7,922,392  
    Cash of continuing operations and marketable securities   $ 7,732,763     $ 8,860,148  
                     

    The MIL Network –

  • MIL-OSI: Cayson Acquisition Corp Announces Closing of $60,000,000 Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Sept. 23, 2024 (GLOBE NEWSWIRE) — Cayson Acquisition Corp (the “Company”) announced today that it closed its initial public offering of 6,000,000 units at $10.00 per unit. The offering resulted in gross proceeds to the Company of $60,000,000.

    The Company’s units are listed on the Nasdaq Global Market (“Nasdaq”) and commenced trading under the ticker symbol “CAPNU” on September 20, 2024. Each unit consists of one ordinary share and one right entitling its holder to receive one tenth of one ordinary share upon the Company’s completion of an initial business combination. Once the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on Nasdaq under the symbols “CAPN” and “CAPNR,” respectively.

    The Company is a Cayman exempt company, formed as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company intends to focus its search for a target business on entities located throughout Asia but will not be limited to a particular industry or geographic location. The Company is led by its Chairman of the Board and Chief Executive Officer, Yawei Cao.

    Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $60,000,000 was placed in trust.

    EarlyBirdCapital, Inc. acted as the book-running manager for the offering and Revere Securities acted as co-manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 900,000 units at the initial public offering price to cover over-allotments, if any. The offering was made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from EarlyBirdCapital, Inc., 366 Madison Avenue, New York, New York 10017, Attention: Syndicate Department, or (212) 661-0200.

    A registration statement relating to these securities was filed with the Securities and Exchange Commission (the “SEC”) and was declared effective on September 19, 2024. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    FORWARD-LOOKING STATEMENTS

    This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of net proceeds. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Contact:
    Taylor Zhang
    taylorzhang@caysonspac.com

    The MIL Network –

  • MIL-OSI: DTE Energy statement in response to third-party audit of electric distribution system

    Source: GlobeNewswire (MIL-OSI)

    Detroit, Sept. 23, 2024 (GLOBE NEWSWIRE) — DTE Energy (NYSE:DTE) today released the following statement from Matt Paul, president and chief operating officer, DTE Electric, in response to the third-party audit of the electric distribution system issued by the Michigan Public Service Commission.

    “We remain laser-focused on delivering on our commitment to our customers — reducing power outages by 30% and cutting outage time in half by 2029. 

    “To meet that commitment, as well as the customer service standards set by the Michigan Public Service Commission, we’ve been making significant investments as part of our accelerated plan to quickly transition to a smarter grid, aggressively trimming trees, updating our existing infrastructure and rebuilding significant portions of the grid. 

    “We appreciate the audit team confirming that DTE’s proposed investment plan will deliver the dramatic improvement in reliability that our customers demand and deserve in the next five years as well as recognizing the talent and experience of our team. They also point out that our plan is both ambitious and aggressive, and we accept that challenge.

    “We are always looking for ways to improve our processes and programs and thank the audit team for recognizing our progress, as well as providing recommendations on improvements we can make to better serve our customers. 

    “We are currently reviewing the full report and will provide a formal response through the regulatory process. We look forward to continuing to work with the Michigan Public Service Commission on ways to provide our customers with cleaner, more reliable, and affordable energy.”

    Available images of reliability work. Please credit DTE Energy.

    About DTE Energy

    DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.3 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers across Michigan. The DTE portfolio also includes energy businesses focused on custom energy solutions, renewable energy generation, and energy marketing and trading. DTE has continued to accelerate its carbon reduction goals to meet aggressive targets and is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy, emission reductions and economic progress. Information about DTE is available at dteenergy.com, empoweringmichigan.com, x.com/dte_energy and facebook.com/dteenergy. 

    For further information, members of the media may contact: 
    Colleen Rosso, DTE Energy, 313.235.5555   

    The MIL Network –

  • MIL-OSI: Jamf Announces Appointment of David Rudow as Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS, Sept. 23, 2024 (GLOBE NEWSWIRE) — Jamf (NASDAQ: JAMF), the standard in managing and securing Apple at work, today announced the appointment of David Rudow to Chief Financial Officer (“CFO”).

    Mr. Rudow will begin employment with Jamf on October 28, 2024, and will succeed Jamf’s current Chief Financial Officer, Ian Goodkind, who is departing to pursue other opportunities, effective November 28, 2024. Goodkind will work closely with Rudow to facilitate a seamless transition. 

    “I want to thank Ian Goodkind for everything he has done for Jamf over the last five years and wish him the best of his future endeavors,” said John Strosahl, CEO, Jamf.

    Rudow is a seasoned financial executive with significant experience in both public and private high-growth technology companies. Rudow joins Jamf from Cover Genius, a global embedded Insurtech company. Prior to that, he was the CFO at Unite Us as well as the CFO of nCino, a fintech SaaS company, where Rudow led nCino’s initial public offering. In addition to his technology enterprise experience, Rudow held several senior level positions over an 18-year period at various investment banking and financial services firms, including Piper Jaffray, J.P. Morgan, and Thrivent Asset Management. Rudow is also a Certified Public Accountant and worked at KPMG and PricewaterhouseCoopers. 

    “David brings a powerful combination of deep financial acumen and public company experience to Jamf,” added Strosahl. “His proven CFO track record and experience in tech will be invaluable as we continue to innovate and drive growth in this rapidly evolving market. His appointment underscores our commitment to excellence and our dedication to driving value for our customers, employees, and shareholders.”

    “I am excited to join the talented team at Jamf and contribute to Jamf’s continued success,” said Rudow. “Jamf has an exceptional culture and is the market leader in helping organizations manage and secure their Apple devices for work. I look forward to contributing to their mission of helping organizations succeed with Apple.”

    Jamf is also reaffirming its previously announced financial outlook for revenue and non-GAAP operating income for the third quarter and full year 2024.

    For the third quarter of 2024, Jamf currently expects:

    • Total revenue of $156.5 to $158.5 million
    • Non-GAAP operating income of $25.5 to $26.5 million

    For the full year 2024, Jamf currently expects:

    • Total revenue of $622.5 to $625.5 million
    • Non-GAAP operating income of $96.0 to $98.0 million

    Jamf plans to report financial results for the third quarter ending September 30, 2024, in early November.

    Non-GAAP Financial Measures
    In addition to our results determined in accordance with generally accepted accounting principles in the United States (“GAAP”), we believe the non-GAAP measure of non-GAAP operating income is useful in evaluating our operating performance. Non-GAAP operating income excludes amortization expense, stock-based compensation expense, foreign currency transaction loss (gain), amortization of debt issuance costs, acquisition-related expense, payroll taxes related to stock-based compensation, system transformation costs, restructuring charges, and extraordinary legal settlements and non-recurring litigation costs. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and assists in comparisons with other companies, some of which use similar non-GAAP information to supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly-titled non-GAAP measures used by other companies. The principal limitation of the non-GAAP financial information is that it excludes significant expenses that are required by GAAP to be recorded in our financial statements. In addition, the non-GAAP financial information is subject to inherent limitations as it reflects the exercise of judgment by our management about which expenses are excluded or included in determining the non-GAAP financial information. We strongly encourage investors to review our consolidated financial statements included in our publicly filed reports in their entirety and not rely solely on any single financial measurement or communication.

    Forward-Looking Statements
    This press release contains “forward-looking statements” within the meaning of federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “can,” “will,” “would,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “forecasts,” “potential,” or “continue,” or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements may involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include, but are not limited to, statements regarding our future financial and operating performance (including our outlook and guidance), the demand for our platform, anticipated impacts of macroeconomic conditions on our business, our expectations regarding business benefits financial impacts from our acquisitions, partnerships, and investments, and our ability to deliver on our long-term strategy, and statements related to the CFO transition.

    The forward-looking statements contained in this press release is also subject to additional risks, uncertainties, and factors, including those more fully described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2024 as well as the subsequent periodic and current reports and other filings that we make with the Securities and Exchange Commission from time to time. Moreover, we operate in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release and the accompanying conference call.

    Given these factors, as well as other variables that may affect our operating results, you should not rely on forward-looking statements, assume that past financial performance will be a reliable indicator of future performance, or use historical trends to anticipate results or trends in future periods. The forward-looking statements included in this press release and the accompanying conference call relate only to events as of the date hereof. We undertake no obligation to update or revise any forward-looking statement as a result of new information, future events, or otherwise, except as otherwise required by law.

    About Jamf
    Jamf’s purpose is to simplify work by helping organizations manage and secure an Apple experience that end users love and organizations trust. Jamf is the only company in the world that provides a complete management and security solution for an Apple-first environment that is enterprise secure, consumer simple and protects personal privacy. To learn more, visit www.jamf.com.

    Media Contact:
    Kaitlin Shinkle | media@jamf.com

    Investor Contact:
    Jennifer Gaumond | ir@jamf.com

    The MIL Network –

  • MIL-OSI: Nasdaq to Hold Third Quarter 2024 Investor Conference Call

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Sept. 23, 2024 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq: NDAQ) has scheduled its third quarter 2024 financial results announcement.

      Who:   Nasdaq’s CEO, CFO, and additional members of its senior management team
           
      What:   Review Nasdaq’s third quarter 2024 financial results
           
      When:   Thursday, October 24, 2024
          Results Call: 8:00 AM Eastern
           

    Senior management will be available for questions from the investment community following prepared remarks.

    All participants can access the conference via webcast through the Nasdaq Investor Relations website at http://ir.nasdaq.com/.

    Note: The press release and results presentation for the third quarter 2024 results will be posted on the Nasdaq Investor Relations website at http://ir.nasdaq.com/ on Thursday, October 24, 2024 at approximately 7:00 AM Eastern.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Media Relations Contact:

    Nick Eghtessad
    +1.929.996.8894
    Nick.Eghtessad@Nasdaq.com

    Investor Relations Contact:

    Ato Garrett
    +1.212.401.8737
    Ato.Garrett@Nasdaq.com

    -NDAQF-

    The MIL Network –

  • MIL-OSI: Ellomay Capital Announces Execution of An Agreement for the Sale of Tax Credits of Texas Solar Projects

    Source: GlobeNewswire (MIL-OSI)

    Tel-Aviv, Israel, Sept. 23, 2024 (GLOBE NEWSWIRE) —  Ellomay Capital Ltd. (NYSE American; TASE: ELLO) (“Ellomay” or the “Company”), a renewable energy and power generator and developer of renewable energy and power projects in Europe, Israel and the USA, today announced a key achievement in its U.S. strategic growth plan. The Company has successfully entered into an agreement for the sale and transfer of Investment Tax Credits (ITCs) linked to its Fairfield (13.4 MW), Malakoff (13.92 MW), Mexia (11.1 MW), and Talco (10.5 MW) solar projects, all located in the State of Texas, USA. The agreement was executed with a reputable financial institution, with vast experience in executing tax credit transactions.

    Through this transaction, the Company expects to receive approximately $19 million from the sale of Investment Tax Credits, representing approximately 32% of the expected total portfolio costs. The sale is facilitated under the Inflation Reduction Act’s new transferability provisions, allowing Ellomay to retain 100% of the operating profits from these projects. Funds from the sale of the ITCs generated from a project will be disbursed after such project is placed in service and meets the applicable requirements. The Company expects the Fairfield and Malakoff projects to be placed in service by the end of Q4 2024, and the Mexia and Talco projects to be placed in service by the end of Q2 2025. The agreement includes customary indemnification obligations (for damages not covered by tax insurance policy), including in connection with certain continued eligibility requirements and scope of the ITCs, for which the Company provided a guarantee to the purchaser of the ITCs.

    Ran Fridrich, CEO and a board member of Ellomay, said “The agreement to sell the Investment Tax Credits to an institutional buyer represents a major milestone in the development of Ellomay’s solar portfolio in Texas and underscores the Company’s commitment to expanding its renewable energy presence in the U.S. The Company sees great importance in its ability to sell the ITCs while maintaining the benefits of accelerated depreciation in the Company. The Company believes that additional projects in the pipeline will be able to follow a similar strategy.”

    About Ellomay Capital Ltd.

    Ellomay is an Israeli based company whose shares are listed on the NYSE American and the Tel Aviv Stock Exchange under the trading symbol “ELLO”. Since 2009, Ellomay Capital focuses its business in the renewable energy and power sectors in Europe, USA and Israel.

    To date, Ellomay has evaluated numerous opportunities and invested significant funds in the renewable, clean energy and natural resources industries in Israel, Italy, Spain, the Netherlands and Texas, USA, including:

    • Approximately 335.9 MW of operating photovoltaic power plants in Spain (including a 300 MW photovoltaic plant in owned by Talasol, which is 51% owned by the Company) and approximately 20 MW of operating photovoltaic power plants in Italy;
    • 9.375% indirect interest in Dorad Energy Ltd., which owns and operates one of Israel’s largest private power plants with production capacity of approximately 850MW, representing about 6%-8% of Israel’s total current electricity consumption;
    • Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million Nm3 per year, respectively;
    • 83.333% of Ellomay Pumped Storage (2014) Ltd., which is involved in a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel;
    • Ellomay Solar Italy Ten SRL that is construction a photovoltaic plant (18 MW) in Italy;
    • Ellomay Solar Italy Four SRL (15.06 MW), Ellomay Solar Italy Five SRL (87.2 MW), Ellomay Solar Italy Seven SRL (54.77 MW), Ellomay Solar Italy Nine SRL (8 MW) and Ellomay Solar Italy Fifteen SRL (10 MW) that are developing photovoltaic projects in Italy that have reached “ready to build” status; and
    • Fairfield Solar Project, LLC (13.44 MW), Malakoff Solar I, LLC (6.96 MW) and Malakoff Solar II, LLC (6.96 MW), that are constructing photovoltaic plants and Mexia Solar I, LLC (5.6 MW), Mexia Solar II, LLC (5.6 MW), and Talco Solar, LLC (10.3 MW), that are developing photovoltaic projects that have reached “ready to build” status, all in the Dallas Metropolitan area, Texas.

    For more information about Ellomay, visit http://www.ellomay.com.

    Information Relating to Forward-Looking Statements

    This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company’s management. All statements, other than statements of historical facts, included in this press release regarding the Company’s plans and objectives, expectations and assumptions of management are forward-looking statements. The use of certain words, including the words “estimate,” “project,” “intend,” “expect,” “believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by the Company’s forward-looking statements, including the delays or failure in placing into service of any or all of the Texas solar facilities, failure to meet the continued eligibility requirements for the ITCs, changes in the markets and economy, changes in electricity prices and demand, continued war and hostilities in Israel and Gaza, regulatory changes, including extension of current or approval of new rules and regulations increasing the operating expenses of manufacturers of renewable energy in Spain, increases in interest rates and inflation, changes in the supply and prices of resources required for the operation of the Company’s facilities (such as waste and natural gas) and in the price of oil, the impact of continued military conflict between Russia and Ukraine, technical and other disruptions in the operations or construction of the power plants owned by the Company and general market, political and economic conditions in the countries in which the Company operates, including Israel, Spain, Italy and the United States. These and other risks and uncertainties associated with the Company’s business are described in greater detail in the filings the Company makes from time to time with Securities and Exchange Commission, including its Annual Report on Form 20-F. The forward-looking statements are made as of this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Kalia Rubenbach (Weintraub)
    CFO
    Tel: +972 (3) 797-1111
    Email: hilai@ellomay.com

    The MIL Network –

  • MIL-OSI: Greystone Housing Impact Investors LP Announces Broker’s For Sale Listing of Vantage at Hutto

    Source: GlobeNewswire (MIL-OSI)

    OMAHA, Neb., Sept. 23, 2024 (GLOBE NEWSWIRE) — Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced today that Vantage at Hutto, a 288-unit market rate multifamily property located in Hutto, TX (the “Property”), has been publicly listed for sale by Institutional Property Advisors Texas at the direction of the Property-owning entity’s managing member. The Partnership’s non-controlling investment in the Property was originated in November 2020 and the Partnership has contributed equity totaling $11.8 million during construction and stabilization. Construction of the Property was completed in December 2023. The Property reported 89% physical occupancy as of August 31, 2024. If the listing process is consistent with past Vantage property sales and a sale contract is successfully executed, then the Partnership expects the sale of the Property to occur in the first quarter of 2025. Current market volatility and potential future market developments may delay the expected timing of the sale and may negatively impact the final sales price for the Property.

    Consistent with past Vantage property sales, the managing member controls the listing and sales process under the terms of the Property owning entity’s operating agreement (the “Operating Agreement”). The Partnership will be entitled to certain net proceeds upon the successful completion of a sale of the Property in accordance with the Operating Agreement.

    About Greystone Housing Impact Investors LP

    Greystone Housing Impact Investors LP was formed in 1998 under the Delaware Revised Uniform Limited Partnership Act for the primary purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds which have been issued to provide construction and/or permanent financing for affordable multifamily, seniors and student housing properties. The Partnership is pursuing a business strategy of acquiring additional mortgage revenue bonds and other investments on a leveraged basis. The Partnership expects and believes the interest earned on these mortgage revenue bonds is excludable from gross income for federal income tax purposes. The Partnership seeks to achieve its investment growth strategy by investing in additional mortgage revenue bonds and other investments as permitted by its Second Amended and Restated Limited Partnership Agreement, dated December 5, 2022, taking advantage of attractive financing structures available in the securities market, and entering into interest rate risk management instruments. Greystone Housing Impact Investors LP press releases are available at www.ghiinvestors.com.

    Safe Harbor Statement

    Information contained in this press release contains “forward-looking statements,” which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, risks involving current maturities of our financing arrangements and our ability to renew or refinance such maturities, fluctuations in short-term interest rates, collateral valuations, mortgage revenue bond investment valuations and overall economic and credit market conditions. For a further list and description of such risks, see the reports and other filings made by the Partnership with the Securities and Exchange Commission, including but not limited to, its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Readers are urged to consider these factors carefully in evaluating the forward-looking statements. The Partnership disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    INVESTOR CONTACT:
    Andy Grier
    Senior Vice President
    402-952-1235

    MEDIA CONTACT:
    Karen Marotta
    Greystone
    212-896-9149
    Karen.Marotta@greyco.com

    The MIL Network –

  • MIL-OSI: Nano Labs Announces Annual General Meeting

    Source: GlobeNewswire (MIL-OSI)

    HANGZHOU, China, Sept. 23, 2024 (GLOBE NEWSWIRE) — Nano Labs Ltd (Nasdaq: NA) (“we,” “the Company,” or “Nano Labs”), a leading fabless integrated circuit design company and product solution provider in China, today announced that it will hold its 2024 Annual General Meeting of Shareholders (the “2024 Annual Meeting”) at 10 A.M. on October 23, 2024, Beijing time (10 P.M. on October 22, 2024, U.S. Eastern time) in China Yuangu Hanggang Technology Building, 509 Qianjiang Road, Shangcheng District, Hangzhou, Zhejiang, 310000, People’s Republic of China. The Company has established the close of business on September 27, 2024, Eastern time (the “Record Date”), as the record date for determining shareholders entitled to notice of, and to vote at, the Meeting and any adjournments or postponements thereof. The purpose of the Meeting is:

    (1) to effect a share consolidation of every ten shares with a par value of US$0.0002 each in the Company’s issued and unissued share capital into one share with a par value of US$0.002 (the “Share Consolidation”), so that immediately following the Share Consolidation and the Share Re-designation, the authorized share capital of the Company shall be US$50,000 divided into 25,000,000 ordinary shares of par value of US$0.002 each, comprising (i) 12,141,093 Class A ordinary shares of par value of US$0.002 each, (ii) 2,858,908 Class B ordinary shares of par value of US$0.002 each, and (iii) 9,999,999 shares of a par value of US$0.002 each of such class or classes (however designated) as the board of directors of the Company (the “Directors”) may determine in accordance with the Company’s New M&A (as defined below).

    (2) to amend the Company’s memorandum and articles of association currently in effect (the “Current M&A”) by the adoption of a new memorandum and articles of association to reflect the Share Consolidation (after the amendment, the “New M&A”); and

    (3) to approve the appointment of MaloneBailey, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024.

    Subject to obtaining the relevant shareholders’ approval at the Meeting, the Share Consolidation will be effective at 5 P.M. on October 29, 2024, U.S. Eastern time, and the Class A ordinary shares are expected to begin trading on a post-Share Consolidation basis on the Nasdaq Capital Market when markets open on the next business trading day under the new CUSIP/ISIN numbers. No fractional shares will be issued in connection with the Share Consolidation. All fractional shares will be rounded up to the whole number of shares. Copies of the notice of the Meeting and the form of proxy are available on the Company’s corporate investor relations website at https://ir.nano.cn.

    About Nano Labs Ltd

    Nano Labs Ltd is a leading fabless integrated circuit (“IC”) design company and product solution provider in China. Nano Labs is committed to the development of high throughput computing (“HTC”) chips, high performance computing (“HPC”) chips, distributed computing and storage solutions, smart network interface cards (“NICs”) vision computing chips and distributed rendering. Nano Labs has built a comprehensive flow processing unit (“FPU”) architecture which offers solution that integrates the features of both HTC and HPC. Nano Lab’s Cuckoo series are one of the first near-memory HTC chips available in the market*. For more information, please visit the Company’s website at: ir.nano.cn.

    *According to an industry report prepared by Frost & Sullivan.

    Forward-Looking Statements

    This report contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s plan to appeal the Staff’s determination, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

    For investor inquiries, please contact:

    Nano Labs Ltd
    ir@nano.cn

    Ascent Investor Relations LLC
    Tina Xiao
    Phone: +1-646-932-7242
    Email: investors@ascent-ir.com

    The MIL Network –

  • MIL-OSI: Jade Power Announces Closing of Non-Brokered Private Placement

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Sept. 23, 2024 (GLOBE NEWSWIRE) — Jade Power Trust (“Jade Power” or the “Trust”) (TSXV:JPWR.H) is pleased to announce that it has closed its non-brokered private placement of 6,666,666 units (the “Units”) at a price of C$0.075 per Unit (the “Offering”).

    Each Unit consists of one trust unit in the capital of the Trust (the “Trust Units”) and one half of one Trust Unit purchase warrant (each a “Warrant”). Each whole Warrant is exercisable for a period of one year from the date of issuance to purchase an additional Trust Unit at a price of C$0.10. Net proceeds of the Offering will be used for working capital and general corporate purposes.

    Closing of the Offering remains subject to receipt of all necessary corporate and regulatory approvals, including the final approval of the NEX Board and the TSX Venture Exchange. All securities issued in connection with the Offering are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

    This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

    For further information please contact:

    David Barclay
    Chief Executive Officer
    +1 954-895-7217
    david.barclay@bellsouth.net

    About Jade Power

    The Trust, through its direct and indirect subsidiaries in Canada, the Netherlands and Romania, was formed to acquire interests in renewable energy assets in Romania, other countries in Europe and abroad that can provide stable cash flow to the Trust and a suitable risk-adjusted return on investment. All material information about the Trust may be found under Jade Power’s issuer profile at www.sedarplus.ca.

    Forward-Looking Statements

    This news release contains forward-looking statements within the meaning of securities legislation in the Canada and which are based on the expectations, estimates and projections of management of the parties as of the date of this news release unless otherwise stated. Forward-looking statements are generally identifiable by use of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “could”, “believe”, “plans”, “intends” or the negative of these words or other variations on these words or comparable terminology. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

    Details of the risk factors relating to Jade Power and its business are discussed under the heading “Business Risks and Uncertainties” in the Trust’s annual Management’s Discussion & Analysis for the year ended December 31, 2023, a copy of which is available on Jade Power’s SEDAR+ profile at www.sedarplus.ca. Most of these factors are outside the control of the Trust. Investors are cautioned not to put undue reliance on forward-looking information. These statements speak only as of the date of this press release. Except as otherwise required by applicable securities statutes or regulation, Jade Power expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

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

    The MIL Network –

  • MIL-OSI Economics: Roundtable event: “Leveraging the African Development Bank Group and Philanthropies’ Strengths and Capital to Seize Africa’s Opportunities for a…

    Source: African Development Bank Group
    The African Development Bank Group, the Aliko Dangote Foundation, the Children’s Investment Fund Foundation (CIFF), and the Rockefeller Foundation are hosting a roundtable discussion on the theme: “Leveraging the African Development Bank Group and Philanthropies’ Strengths and Capital to Seize Africa’s Opportunities for…

    MIL OSI Economics –

  • MIL-OSI Economics: UN Secretary-General and Heads of Multilateral Development Banks to Enhance Collaboration to Address the Challenges of Achieving the SDGs

    Source: African Development Bank Group
    United Nations Secretary-General António Guterres and top UN officials met with the Heads of Multilateral Development Bank (MDB) Group on Sunday in a joint effort to better support countries in accelerating progress towards achieving the Sustainable Development Goals (SDGs) by 2030.

    MIL OSI Economics –

  • MIL-OSI Economics: The African Development Bank Group grants over $67 million to Madagascar to relaunch its economy and improve governance in its energy sector

    Source: African Development Bank Group
    The Board of Directors of the African Development Bank Group approved a loan of $67.3 million to Madagascar on 20 September 2024 to implement the first phase of its economic growth-inducing Financial Management and Resilience Support Programme for 2024-2025.

    MIL OSI Economics –

  • MIL-OSI: OceanFirst Financial Corp. Schedules Earnings Conference Call

    Source: GlobeNewswire (MIL-OSI)

    RED BANK, N.J., Sept. 23, 2024 (GLOBE NEWSWIRE) — OceanFirst Financial Corp. (NASDAQ:OCFC), the holding company for OceanFirst Bank, today announced that it will issue its earnings release for the quarter ended September 30, 2024 on Thursday, October 17, 2024 after market close. Management will then conduct a conference call at 11:00 a.m. Eastern Time, on Friday, October 18, 2024 to discuss highlights of the Company’s quarterly operating performance.

    The direct dial number for the call is 1-833-470-1428, toll free, using the access code 257920. For those unable to participate in the conference call, a replay will be available. To access the replay, dial 1-866-813-9403, Access Code 120573, from one hour after the end of the call until November 15, 2024.

    The conference call will also be available (listen-only) by accessing the Company’s Web address: www.oceanfirst.com – Investor Relations. Web users should go to the site at least fifteen minutes prior to the call to register, download, and install any necessary audio software. The webcast will be available for at least 30 days.

    OceanFirst Financial Corp.’s subsidiary, OceanFirst Bank N.A., founded in 1902, is a $13.3 billion regional bank providing financial services throughout New Jersey and the major metropolitan markets of Philadelphia, New York, Baltimore, and Boston. OceanFirst Bank delivers commercial and residential financing, treasury management, trust and asset management, and deposit services and is one of the largest and oldest community-based financial institutions headquartered in New Jersey.

    OceanFirst Financial Corp.’s press releases are available at http://www.oceanfirst.com.

    Forward-Looking Statements

    In addition to historical information, this news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 which are based on certain assumptions and describe future plans, strategies and expectations of the Company. These forward-looking statements are generally identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” “will,” “should,” “may,” “view,” “opportunity,” “potential,” or similar expressions or expressions of confidence. The Company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations of the Company and its subsidiaries include, but are not limited to: changes in interest rates, general economic conditions, levels of unemployment in the Bank’s lending area, real estate market values in the Bank’s lending area, future natural disasters and increases to flood insurance premiums, the level of prepayments on loans and mortgage-backed securities, legislative/regulatory changes, monetary and fiscal policies of the U.S. Government including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, the quality or composition of the loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in the Company’s market area and accounting principles and guidelines. These risks and uncertainties are further discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent securities filings and should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

    The MIL Network –

  • MIL-Evening Report: The internet can be toxic. But there are also online oases where mutual care flourishes

    Source: The Conversation (Au and NZ) – By George Buchanan, Deputy Dean, School of Computing Technologies, RMIT University

    Chun photographer/Shutterstock

    This piece is part of a series on the great internet letdown. Read the rest of the series.

    The internet can be a toxic place. Disinformation, hate speech and trolling are not just abundant – they are encouraged by the economy of clicks which governs many online platforms. There are no good clicks, no bad clicks, only clicks. By that metric, mutual hostility is great, because it results in lots of clicks.

    But this is only one side of the web.

    As I have discovered in my research there are also lesser-known places on the internet where mutual care flourishes.

    These online oases are built, carefully tended, and fiercely protected by dedicated people who usually share a niche interest. Members connect and share information with each other that can often be life-changing, helping them overcome personal barriers both great and small.

    Informal networks

    “Informal networks” are social connections that allow people to share information around a common interest or need.

    In the past, a version of this would be village gossip. In times of urgency, this grapevine of social connections ensured people could respond without waiting for the next newspaper – or attend to matters the newspaper would not even cover.

    Today, while geographically bounded informal networks are dissolving, they are forming online.

    For example, people who have relatively rare chronic conditions can find others on Facebook or in online forums who can provide information on lived experience, tips on how to get quality medical care or ideas for how to continue with a sport.

    These networks often exist in a dual world, both online and in person.

    Many people find each other and create informal networks on Facebook and in online forums.
    BlurryMe/Shutterstock

    Finding the right people

    Diabetes is an increasingly common condition, and it makes everyday life more complex and challenging.

    In my own research, I discovered a group of keen runners with diabetes who were initially strangers but became connected through chance social encounters. They bonded over a shared challenge: how to find the right diet and manage blood sugar levels so they could keep running.

    One runner explained that “finding the right people saved the life I loved, maybe even my life”. This network includes a dietitian and a sports scientist, and provides information and guidance that would never appear in a book.

    Local and family history is another topic around which online informal networks form.

    Often, specific knowledge is key, as one member of an online local history group explained:

    when I was trying to get access to the [local archive] I found it really difficult to get the archivist to be helpful […] I got guidance [via an online group] on how to get on her right side, so I could get what I was after.

    Again, this isn’t the sort of knowledge that is going to be published. But it is vital for those pursuing it out of interest.

    The opposite of division

    These informal networks present a stark contrast to the divisive pattern found in some parts of the web. Too-frequent posting and divisive or offensive attitudes are quickly going to get you expelled.

    Those who run the Facebook groups and online forums I research are usually volunteers. The main source of information is other members, so there is an inherent need to be a good citizen. As one person explained:

    I want the community to work, but I have no time or patience for people who are being disruptive.

    Status comes from being friendly, constructive and informative, and there is an expectation of reciprocal behaviour. Many groups, such as the runners with diabetes, encounter each other in real life and are located in a set geographical area.

    People researching local and family histories often connect through online informal networks.
    NATALIA61/Shutterstock

    Discussions often occur across time, spanning in-person chats over coffee, chance encounters at an event, online one-to-one messaging and forum posts. The network spans different social and technological contexts.

    The value of these online informal networks is getting knowledge of real experience, and often the emotional support needed to put that experience into practice.

    While commercial online platforms value conflict, as it produces enraged engagement and higher advertising revenue, the currencies of these networks are empathy and insight.

    A new model

    However, the pressures of the world outside the online oasis still exist. Most groups need occasional policing. For example, moderators of a diabetic discussion forum have continually had to expel people touting “snake oil” solutions.

    More often, though, anti-social behaviour results in participants being ignored and left on their own. A rogue post will more likely result in a telling off from other posters than the moderator needing to step in. Everyone is involved in both creating and defending the value of the informal network.

    Unlike many parts of the internet, online informal networks don’t care about clicks: they survive on real-world benefit. They dissolve when they no longer deliver the benefits people want or need.

    Instead of just thinking about clicks, the companies controlling major online platforms could help improve the internet by learning from what is valued in informal networks.

    George Buchanan 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. The internet can be toxic. But there are also online oases where mutual care flourishes – https://theconversation.com/the-internet-can-be-toxic-but-there-are-also-online-oases-where-mutual-care-flourishes-237769

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Dingell Announces $50 Million for Battery Manufacturing in Van Buren Township

    Source: United States House of Representatives – Congresswoman Debbie Dingell (12th District of Michigan)

    Congresswoman Debbie Dingell (MI-06) today announced Cabot Corporation will receive $50 million from the Department of Energy (DOE) to build the first commercial-scale facility in the U.S. to produce critical components for lithium-ion batteries in Van Buren Township. The grant was awarded under the DOE’s Infrastructure Investment and Jobs Act’s Battery Materials Processing and Battery Manufacturing funding opportunity as part of a $355 total million investment in battery manufacturing in Michigan. 

    “Our state is driving the next generation of auto innovation and technology, and there’s no better place for this plant than here in Southeast Michigan. To keep America a global leader in EVs and manufacturing, we must ensure electric vehicles, their batteries, all their components, and their infrastructure are built here at home,” Dingell said. “This investment will strengthen our domestic battery supply chain, create good paying union jobs, support Michigan’s auto leadership, and advance our transition to a clean-energy future.”

    “We are grateful for the Department of Energy’s support in selecting Cabot Corporation for this significant grant, which underscores the importance of building a strong domestic supply chain for critical battery materials in the U.S. With the strong support of Congresswoman Dingell and other congressional leaders, we are confident this project will contribute meaningfully to the future of clean energy and drive sustainable innovation in Michigan and the U.S.,” said Martin O’Neill, Cabot Corporation, Senior Vice President, Government Affairs and Chief Sustainability Officer. “This funding accelerates our efforts to establish the first U.S. commercial-scale production facility of battery-grade carbon nanotubes and conductive additive dispersions located here in Michigan. We are excited about the opportunities this project brings to the state, not only in terms of job creation and local economic growth, but also in advancing the clean energy transition.”

    Cabot Corporation will build and operate a plant capable of producing an initial ~1,000 tons per year of battery-grade carbon nanotubes (CNTs) and up to 12,000 tons per year of conductive additive (CA) dispersions at a commercial scale to support the domestic lithium-ion battery supply chain. Conductive additives, including CNTs, are indispensable ingredients in battery electrodes, connecting active materials within a conductive matrix. Without conductive additives, lithium-ion batteries do not work. Cabot’s plant will be the first production-scale facility to manufacture and supply battery-grade CNTs and CA dispersions in the U.S., expanding U.S. capabilities in advanced battery manufacturing, reducing reliance on imports, and strengthening national security. 

    The facility is expected to employ approximately 85 permanent workers and more than 250 tradespeople during construction. Cabot will work with the local government to sign a Good Neighbor Agreement and has signed a Memorandum of Understanding (MOU) with the North American Building Trades Union (NABTU) for construction of the facility and a neutrality agreement with the International Chemical Workers Union Council (ICWUC) for the operations of the facility. Cabot will also partner with local and regional universities, colleges, and trade schools to implement internship programs, support STEM career development, and promote training opportunities to develop a qualified and skilled domestic workforce.

    Learn more about the project here.

    MIL OSI USA News –

  • MIL-OSI Global: Can you trust companies that say their plastic products are recyclable? US regulators may crack down on deceptive claims

    Source: The Conversation – USA – By Patrick Parenteau, Professor of Law Emeritus, Vermont Law & Graduate School

    Keurig, maker of K-Cup single-use coffee pods, was recently fined for claiming the pods were recyclable. Dixie D. Vereen/For The Washington Post, via Getty Images

    Plastic is a fast-growing segment of U.S. municipal solid waste, and most of it ends up in the environment. Just 9% of plastic collected in municipal solid waste was recycled as of 2018, the most recent year for which national data is available. The rest was burned in waste-to-energy plants or buried in landfills.

    Manufacturers assert that better recycling is the optimal way to reduce plastic pollution. But critics argue that the industry often exaggerates how readily items can actually be recycled. In September 2024, beverage company Keurig Dr Pepper was fined US$1.5 million for inaccurately claiming that its K-Cup coffee pods were recyclable after two large recycling companies said they could not process the cups. California is suing ExxonMobil, accusing the company of falsely promoting plastic products as recyclable.

    Environmental law scholar Patrick Parenteau explains why claims about recyclability have confused consumers, and how forthcoming guidelines from the U.S. Federal Trade Commission may address this problem.

    Why do manufacturers need guidance on what ‘recyclable’ means?

    Stating that a product is recyclable means that it can be collected, separated or otherwise recovered from the waste stream for reuse or in the manufacture of other products. But defining exactly what that means is difficult for several reasons:

    • Different U.S. states have different recycling regulations and guidelines, which can affect what is considered recyclable in a given location.

    • The availability and quality of recycling infrastructure also varies from place to place. Even if a product technically is recyclable, a local recycling facility may not be able to accept it because its equipment can’t process it.

    • If no market demand for the recycled material exists, recycling companies may be unlikely to accept it.

    Most plastic goods that consumers put in their recycle bins aren’t recycled, despite the “chasing arrow” label. Critics say manufacturers have deceived the public to avert plastic bans.

    What is the Federal Trade Commission’s role?

    Public concern about plastic pollution has skyrocketed in recent years. A 2020 survey found that globally, 91% of consumers were concerned about plastic waste.

    Once plastic enters the environment, it can take 1,000 years or more to decompose, depending on environmental conditions. Exposure through ingestion, inhalation or in drinking water poses potential risks to human health and wildlife.

    The Federal Trade Commission’s role is to protect the public from deceptive or unfair business practices and unfair methods of competition. Every year, it brings hundreds of cases against individuals and companies for violating consumer protection and competition laws. These cases can involve fraud, scams, identity theft, false advertising, privacy violations, anticompetitive behavior and more.

    The FTC publishes references called the Green Guides, which are designed to help marketers avoid making environmental claims that mislead consumers. The guides were first issued in 1992 and were revised in 1996, 1998 and 2012. While the guides themselves are not enforceable, the commission can use them to prove that a claim is deceptive, in violation of federal law.

    The guidance they provide includes:

    • General principles that apply to all environmental marketing claims

    • How consumers are likely to interpret claims, and how marketers can substantiate these claims

    • How marketers can qualify their claims to avoid deceiving consumers

    The agency monitors environmentally themed marketing for potentially deceptive claims and evaluates compliance with the FTC Act of 1914 by reference to the Green Guides. Marketing inconsistent with the Green Guides may be considered unfair or deceptive under Section 5 of the FTC Act.

    Courts also refer to the Green Guides when they evaluate claims for false advertising in private litigation.

    Currently, the Green Guides state that marketers should qualify claims that products are recyclable when recycling facilities are not available to at least 60% of consumers or communities where a product is sold.

    How is the agency addressing recyclability claims?

    The FTC is reviewing the Green Guides and issued a request for public comment on the guides in late 2022. In May 2023, the agency convened a workshop called Talking Trash at the FTC: Recycling Claims and the Green Guides.

    This meeting focused on the 60% processing threshold for recyclability claims. It also addressed potential confusion created by the “chasing arrows” recycling symbol, which often identifies the type of plastic resin used in a product, using the numbers 1 through 7.

    Many critics argue that consumers may see the symbol and assume that a product is recyclable, even though municipal recycling programs are not widely available for some types of resins. Other labels use a version of the symbol for products such as single-use grocery bags that aren’t accepted in most curbside recycling programs but can be dropped off at designated stores for recycling.

    The FTC has sought public comments on specific characteristics that make products recyclable. It also has asked whether unqualified recyclability claims should be made when recycling facilities are available to a “substantial majority” of consumers or communities where the item is sold – even if the item is not ultimately recycled due to market demand, budgetary constraints or other factors.

    What are companies and environmental advocates saying?

    Organizations representing environmental interests, recycling businesses and the waste and packaging industries have offered numerous suggestions for updating the Green Guides. For example:

    • The U.S. Environmental Protection Agency urged the FTC to increase its threshold for recyclability claims beyond the current 60% rate. The EPA said that products and packaging “should not be considered recyclable without strong end markets in which they can reliably be sold for a price higher than the cost of disposal.” It also recommended requiring companies’ recyclability claims to be reviewed and certified by outside experts.

    • The Consumer Brands Association, which represents the U.S. Chamber of Commerce, the Plastics Industry Association and other commercial interests, called for more research into public understanding of environmental marketing claims. To help companies avoid making deceptive advertising claims, it urged the FTC to provide more detailed explanations, with examples of acceptable marketing.

    • The Association of Plastic Recyclers encouraged the FTC to increase enforcement against deceptive unqualified claims of both recyclability and recycled content. It recommended providing stronger, more prescriptive guidance; publicizing specific examples from the marketplace of deceptive representations; and sending warning letters when companies appear to be making unsubstantiated claims. It also asked the FTC to maintain its current recyclability claim threshold at 60% and to update the Green Guides again within five years instead of 10.

    • A coalition of environmental groups, including Greenpeace USA and the Center for Biological Diversity, urged the commission to codify the Green Guides into binding rules. They also argued that for goods that require in-store drop-off, companies should have to prove that processors can capture and recycle at least 75% of the material.

    The FTC has not set a date for publishing a final version of the revised Green Guides. All eyes will be on the agency to see how far it is willing to go to police recycling claims by manufacturers in this $90 billion U.S. industry.

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

    – ref. Can you trust companies that say their plastic products are recyclable? US regulators may crack down on deceptive claims – https://theconversation.com/can-you-trust-companies-that-say-their-plastic-products-are-recyclable-us-regulators-may-crack-down-on-deceptive-claims-239156

    MIL OSI – Global Reports –