Category: Commerce

  • MIL-OSI: Alation Extends Data Intelligence to Google Chrome to Empower Faster Self-Service Analytics Across the Enterprise

    Source: GlobeNewswire (MIL-OSI)

    REDWOOD CITY, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) — Alation Inc., the data intelligence company, today announced the release of Alation Anywhere for Google Chrome to streamline contextual data discovery and empower users to act on data intelligence within Chrome. The extension allows users to seamlessly search, preview, and retrieve critical metadata from Alation without leaving the browser, delivering trusted, governed data at the point of need for real-time, enterprise-wide decision-making and accelerated time to value. The extension is the latest addition to Alation Anywhere, which integrates data intelligence into Slack, Microsoft Teams, Excel, and Google Sheets. 

    The constant switching between disparate applications and tools wastes time and valuable resources, complicating access to trusted data for confident decisions. According to Harvard Business Review, this frequent toggling—nearly 1,200 times per day on average—can cost workers almost five workweeks per year or close to four hours each week by reorienting themselves. Without a single source of truth, data users often have to leave their applications running on Chrome to locate relevant data scattered across systems. These inefficiencies slow decision-making, introduce errors, and delay time to value for data and AI initiatives.

    Alation Anywhere addresses these challenges by seamlessly integrating data intelligence into the daily tools that knowledge workers rely on, including Chrome. The new extension surfaces critical data intelligence—such as business term definitions, metadata previews, and database details—directly in the browser, eliminating the need to switch away from Chrome. By delivering trusted, contextual, and up-to-date data exactly when and where it’s needed, enterprise users can collaborate more effectively, analyze data more efficiently, and make informed decisions. For example, knowledge workers often rely on applications like Snowflake’s Snowsight, Looker, and Power BI. With the new extension, users gain a side-by-side view of data assets and corresponding metadata from Alation, accelerating time to insight and fostering a more collaborative data culture across the enterprise.

    “We’re excited to see how Alation Anywhere for Google Chrome can accelerate our data utilization,” Kazuaki Ideguchi, Manager, Data Platform Department, NTT DOCOMO. “Now, our data analysts will be able to check data definitions directly on the same screen while writing SQL queries in Snowsight, streamlining their workflow. We look forward to Alation continuing to deliver these valuable features that enhance productivity.”

    “Organizations today are overwhelmed by the influx of data from countless sources, creating unprecedented complexity in managing their data environments,” said Diby Malakar, VP of Product Management at Alation. “The Alation Anywhere for Google Chrome extension directly addresses this challenge by delivering trusted, governed data straight into the user’s browser. It empowers teams to instantly find, understand, and act on data—without disrupting their workflow. This isn’t just a productivity tool; it’s a critical asset that accelerates decision-making, reduces errors, and drives meaningful business outcomes in today’s decentralized, data-driven world.”

    Key benefits of the Alation Anywhere for Google Chrome extension include: 

    • Streamlined Data Discovery: With Intelligent Search, teams can instantly discover trusted data and BI assets using natural language search. This democratizes access to data across the organization, allowing users to locate relevant data assets quickly without specialized knowledge. The extension boosts productivity by delivering the right data at the point of need, enabling faster, more informed decision-making.
    • Automated Metadata Preview: The extension enhances productivity by providing automated, side-by-side previews of data assets in Snowflake’s Snowsight, Looker, and Power BI dashboards alongside Alation’s rich metadata. For example, data teams can access valuable context—such as data quality flags and descriptions about a data asset—directly within Snowsight, Looker, and Power BI. This comprehensive view lets users explore contextual metadata, like schemas, tables, and BI objects, all without leaving Chrome. The extension supports better decision-making by streamlining workflows, improving data accuracy, reducing errors, and ensuring teams rely on trusted, governed data.
    • Seamless Access to Glossary Definitions: Users can quickly search for and understand standardized organizational terms directly within Chrome. For instance, an analyst working on a report or PowerPoint can easily find clarity on organizational terms with just a couple of clicks through the Alation glossary. With glossary definitions readily available, teams can maintain consistency across reports, presentations, and daily tasks without disrupting their workflow.

    To learn more, read the blog “Alation Anywhere for Chrome: Data Intelligence, Where You Are.” 

    The Alation Anywhere for Google Chrome extension is available through the internal add-on page within Alation and searchable through the Chrome Marketplace

    About Alation
    Alation is the data intelligence company. Nearly 600 global enterprises — including 40% of the Fortune 100 — rely on Alation to realize value from their data and AI initiatives. Customers such as Cisco, DocuSign, Nasdaq, Pfizer, and Samsung trust Alation’s platform for self-service analyticscloud transformationdata governance, and AI-ready data, fostering data-driven innovation at scale. Headquartered in Redwood City, California, Alation has been recognized five times by Inc. Magazine as one of the Best Workplaces. To learn more, visit www.alation.com

    Media Contact
    Lauren Lloyd
    Director, Corporate Communications
    541-490-6115
    lauren.lloyd@alation.com

    The MIL Network

  • MIL-OSI: Backblaze and Opti9 Partner to Bring High Performance and Low Cost Cloud Storage to Joint Customers

    Source: GlobeNewswire (MIL-OSI)

    SAN MATEO, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) — Backblaze, Inc. (Nasdaq: BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, and Opti9, an international leader in hybrid cloud solutions, today announced a partnership to bring the performance of Backblaze B2 Cloud Storage to Opti9’s suite of managed service offerings and solutions.

    As part of the partnership, Backblaze announced plans to open a new data region in Canada. Opti9 will be the exclusive Canadian channel for Backblaze B2 Reserve and the Powered by Backblaze program.

    “Backblaze and Opti9 focus on empowering businesses with the best cloud solutions available,” said Jim Stechyson, President of Opti9. “Being able to integrate the high performance and low total cost of ownership of Backblaze’s object storage into our set of solutions will greatly enhance our ability to drive success for our customers.”

    Opti9 delivers managed cloud services, application development and modernization, backup and disaster recovery, security, and compliance solutions to businesses around the world. B2 Cloud Storage is secure, compliance-ready, always-hot object storage that is one-fifth the price of traditional cloud storage providers and can be used in any of the solutions Opti9 provides.

    Increasingly, companies seeking managed services support are demanding solutions made up of best-in-breed providers. While traditional cloud platforms work against this principle, Backblaze and solution providers like Opti9 are committed to delivering cloud solutions without the limitations, complexity, and high pricing that are holding businesses back.

    “Businesses want modern storage solutions that serve their needs without worrying about out-of-control fees, complexity, or other limits,” said Gleb Budman, CEO of Backblaze. “Opti9 and Backblaze are both committed to delivering this value to customers—coming together means we can unlock growth for even more businesses around the world.”

    The new Canadian data region gives businesses the freedom to access Backblaze’s open, interoperable cloud solution, while still allowing customers to benefit from local storage and compliance. Located in Toronto, Ontario, the data center has been assessed and maintains a security program that addresses the requirements of SOC 1 Type 2, SOC 2 Type 2, ISO 27001, PCI DSS, and HIPAA. The region will be available to customers in the first quarter of 2025. For more information on the Opti9 partnership and Canadian data region, please visit the Backblaze blog.

    About Backblaze

    Backblaze is the cloud storage innovator providing a modern alternative to traditional cloud providers. We deliver high performance, secure cloud object storage that customers use to develop applications, manage media, secure backups, build AI workflows, protect from ransomware, and more. Backblaze helps businesses break free from the walled gardens that traditional providers lock customers into, enabling them to use their data in open cloud workflows with the providers they prefer at a fraction of the cost. Headquartered in San Mateo, CA, Backblaze (NASDAQ: BLZE) was founded in 2007 and serves over 500,000 customers in 175 countries around the world. For more information, please go to www.backblaze.com.

    About Opti9

    Opti9 is a hybrid cloud solutions provider with offices in Garden City, NY, Omaha, NE, Overland Park, KS, St. Louis, MO, and Ottawa, ON and data centers in North America, Europe, and the APAC region. As an AWS Advanced Consulting Partner, Platinum Veeam Cloud & Service Provider, and Zerto Alliance Partner, Opti9 specializes in managed cloud services, application development and modernization, backup and disaster recovery, security, and compliance. With a business-first focus, Opti9 combines experience with innovation to deliver on its “Right Workload, Right Cloud, Right Time” approach. www.opti9tech.com

    Press Contact

    Jeanette Foster
    Communications Manager, Backblaze
    jfoster@backblaze.com

    The MIL Network

  • MIL-OSI: Premium Income Corporation Announces Successful Overnight Offering Of Preferred Shares

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to U.S. newswire services or for dissemination in the United States.

    TORONTO, Oct. 30, 2024 (GLOBE NEWSWIRE) — (TSX: PIC.PR.A) – Premium Income Corporation (the “Fund”) is pleased to announce a successful overnight treasury offering of 4,350,000 Preferred Shares. Gross proceeds of the offering are expected to be $65,250,000.

    The offering is expected to close on or about November 6, 2024, and is subject to certain closing conditions including approval by the Toronto Stock Exchange (“TSX”). The Preferred Shares will be offered at a price of $15.00 per Preferred Share representing a yield on the original issue price of 8.50%. The trading price on the TSX for the Preferred Shares as at the last trade on October 29, 2024, was $15.16. Since the inception of the Fund, the aggregate dividends declared on the Preferred Shares have been $24.36 per share.

    The Fund invests in a portfolio consisting principally of common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada and The Toronto-Dominion Bank. To generate additional returns above the dividend income earned on the Fund’s portfolio, the Fund will selectively write covered call and put options in respect of some or all of the common shares in the Fund’s portfolio. The manager and investment manager of the Fund is Mulvihill Capital Management Inc.

    The Preferred Shares pay fixed cumulative preferential monthly cash distributions in the amount of $0.10625 ($1.275 per annum) per Preferred Share representing a yield of 8.50% on the original issue price of $15.00.

    The syndicate of agents for the offering was co-led by National Bank Financial Inc., CIBC Capital Markets, RBC Capital Markets, and Scotiabank.

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

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

    The MIL Network

  • MIL-OSI Economics: A new pact to bolster business in MENA region

    Source: International Chamber of Commerce

    Headline: A new pact to bolster business in MENA region

    The partnership outlines a four-point action plan, with a particular emphasis on digitalising trade and improving access to finance for micro-, small- and medium-sized enterprises in the Unites Arab Emirates (UAE) and beyond.

    In line with shared values and a common purpose to enable business, the partnership will build on successful past initiatives and the extensive network of both organisations.

    Signing the agreement on behalf of ICC, Secretary General John W.H. Denton AO said:

    This agreement aims to further strengthen our longstanding, successful relationship with Dubai Chambers, amplifying and driving our pioneering efforts in key areas such as trade digitalisation and
    chamber empowerment.

    His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said:

    “This partnership agreement with ICC reflects our shared vision to empower businesses in the MENA region through innovation, digitalisation, and improved access to finance. We look forward to working together to drive sustainable economic growth and unlock new opportunities that will benefit the global business community.

    Signed today at ICC Global Headquarters in Paris, this initial 12-month agreement lays the foundation for more detailed agreements to be developed on specific areas.

    The action plan sets out shared commitments to:

    • Facilitate capacity building and knowledge sharing among chambers of commerce through the Chamber Benchmarking initiative
    • Drive the digitalisation of trade in the MENA region, supporting the work of the ICC Digital Standards Initiative
    • Inform and collaborate on the BRICS Business Council in consultation with UAE businesses
    • Support initiatives of ICC and the ICC World Chambers Federation, bringing value to businesses in the UAE and region

    By way of the non-financial, non-binding agreement, ICC and Dubai Chambers have committed to review the action plan as projects develop.

    MIL OSI Economics

  • MIL-OSI United Kingdom: Chancellor chooses a Budget to rebuild Britain

    Source: United Kingdom – Executive Government & Departments 3

    Today, Chancellor of the Exchequer Rachel Reeves delivered a Budget to fix the foundations of our economy.

    • Chancellor protects public services as departments’ day-to-day spending set to grow by an average of 3.3% in real terms between 2023-24 and 2025-26, including increase of more than £22 billion for health to help bring down waiting lists.
    • Budget will restore economic stability and begin a decade of national renewal, providing a boost to public investment by over £100 billion over the next five years across roads, rail, schools and hospitals whilst keeping debt on a downward path.
    • No change to working people’s payslips as income tax, employee national insurance and VAT stay the same, but businesses and the wealthiest asked to pay more.

    The Chancellor has delivered a Budget to fix the foundations to deliver on the promise of change after a decade and a half of stagnation. She has set out plans to fix the NHS and rebuild Britain, while ensuring working people don’t face higher taxes in their payslips.

    The government was handed a challenging inheritance; £22 billion of unfunded in-year spending pressures, debt at its highest since the 1960s, unrealistic plans for departmental spending, and stagnating living standards.

    As a mission-led government, the Chancellor has today made clear the difficult choices this government will make to rebuild the country. This Budget takes the difficult decisions on tax, spending and welfare to restore economic and fiscal stability, so that the government can invest in the country’s future and achieve its mission for growth. This means hospital waiting lists will be cut with room to invest in Britain to rebuild our schools, hospitals and broken roads.

    The government is protecting working people’s living standards by raising the National Living Wage, cutting duty on draught pints, keeping bus fares down, and not increasing the main rates of income tax, employee national insurance, and VAT.

    The Budget will help rebuild Britain by boosting public investment by over £100 billion over the next five years while exceeding the manifesto commitment to fix an extra 1 million potholes per year with an additional £500 million for local road maintenance in 2025-26.

    Fixing the NHS and reforming public services

    By repairing the public finances and restoring economic stability, the Budget delivers on a new settlement for public services, increasing day to day spending for public services by 3.3% on average in real terms over this year and next to fix the NHS, boost the education system and repair the criminal justice system.

    This government has been clear from the start it will not tolerate wasteful spending – and that means treating taxpayers’ money with respect. For the next financial year, all government departments have a 2% productivity, efficiency, and savings target, that is expected to save billions of pounds.

    • The Chancellor has confirmed an additional £22.6 billion for day-to-day spending over two years for the Department of Health and Social care, supporting the NHS to deliver an extra 40,000 elective appointments per week, delivering on one of the Government’s first aims in office to reduce waiting times in the NHS.
    • The government is investing around £1.5 billion capital funding for new surgical hubs, diagnostic scanners and new beds across the NHS estate to create more treatment space in emergency departments, reduce waiting times and help shift more care into the community.
    • £100 million will be earmarked to carry out 200 GP estate upgrades across England, supporting improved use of existing buildings and space, boosting productivity and enabling delivery of more appointments.
    • The Chancellor has focused on improving education as part of her first Budget, with an additional £4 billion for the sector, including £2.3 billion into the core schools’ budget which increases per pupil spending in real terms.
    • This will allow 100 project plans to begin delivery across England next year and begin to tackle the crumbling school and college buildings across the country. This paves the way for a long-term strategy to improve schools nationwide so that students can learn in safe, state-of-the-art facilities, tailored to the needs of 21st-century education.
    • The Chancellor will provide £1.4 billion for the school rebuilding programme, including an increase of £550 million this year.

    In addition to these commitments, this government is securing our borders and taking back our streets.

    • The new Border Security Command will smash the organised criminal gangs by deploying 100 new NCA officers and increasing cooperation with European intelligence agencies and police forces.
    • Smashing gangs and boosting the processing of asylum claims forms a crucial part of the government’s plan to cut asylum support costs by more than £4bn over the next 2 years compared to the previous government’s spending trajectory.
    • The Home Office settlement will put us on track to start delivering the manifesto pledge to boost visible neighbourhood policing with 13,000 more neighbourhood officers and PCSOs.

    Protecting working people and living standards

    While fixing the inheritance requires tough decisions, the Chancellor has committed to protecting the living standards of working people. The decisions taken by the Chancellor to rebuild public finances enable the government to deliver on its pledge to not increase National Insurance, VAT, or Income Tax on working people, meaning they will not see higher taxes in their payslip. In addition:

    • The Chancellor has made the decision to protect working people from being dragged into higher tax brackets by confirming that Income Tax and National Insurance Contributions thresholds will be unfrozen from 2028-29 onwards.
    • The National Living Wage will increase from £11.44 to £12.21 an hour from April 2025, which means a pay boost for 3 million workers. The 6.7% increase – worth £1,400 a year for a full-time worker – is a significant move towards delivering a genuine living wage.  The National Minimum Wage for 18 to 20-year-olds will also rise from £8.60 to £10.00 an hour.
    • The Chancellor is also protecting motorists by freezing fuel duty for one year and extending the temporary 5p cut to 22 March 2026 – a tax cut worth £3 billion. This will save the average car driver £59, vans £126 and Heavy Goods Vehicles £1,079 next year.
    • To support the take-up of zero emission cars, Vehicle Excise Duty (VED) First Year Rates (FYRs) are changing from 2025-26. Rates for zero emission cars will be frozen at £10 until 2029-30 while rates for hybrid and petrol/diesel cars will rise from 1 April 2025.
    • The weekly earnings limit for Carer’s Allowance will be increased to 16 hours at the National Living Wage, worth an additional £45 a week from April next year, making over 60,000 carers eligible for support, and helping carers to balance work and caring responsibilities. This is the largest ever increase to the earnings limit and provides certainty for carers with a commitment that the earnings limit will increase with the National Living Wage in the future.
    • To help ensure pensioners are protected in their retirement, the Budget will also confirm a 4.1% increase to the basic and new State Pension as well as the standard minimum guarantee for Pension Credit, from April next year.
    • Over 12 million pensioners will benefit from this as the full new State Pension will rise from £221.20 to £230.25 a week, providing an additional £470 a year, while the full basic State Pension will increase from £169.50 to £176.45 per week, worth an extra £360 annually.
    • The Pension Credit Standard Minimum Guarantee will also increase by 4.1% from April 2025, meaning an annual increase of £465 in 2025-26 in the single pensioner guarantee and £710 in the couple guarantee.
    • The administration of Pension Credit and Housing Benefit will be brought together for new claimants from 2026. This is two years earlier than previously planned, and will support more people to receive the benefits that they are entitled to.
    • In addition, working-age benefits and the Additional State Pension will rise by 1.7% in April 2025, in line with inflation. This increase will see around 5.7 million families on Universal Credit gain an average of £150 annually.

    Rebuilding Britain

    This government will not make a return to austerity and will instead boost investment to rebuild Britain by investing in the fabric of the country, as well as supporting the industries of the future. This will go towards rebuilding our schools, hospitals and roads, turbocharging the delivery of 1.5 million homes, and unlocking long-term economic growth.

    This comes on top of action already taken under the government’s growth mission including establishing the National Wealth Fund, publishing the Industrial Strategy green paper, and hosting the International Investment Summit.

    • The government is exceeding its manifesto commitment to fix an extra 1 million potholes per year, with an additional £500 million for local road maintenance in 2025-26 – an almost 50% increase on the commitment made by the previous government for the current financial year.
    • This brings the total amount dedicated to fixing the roads in England over the next year to nearly £1.6 billion.
    • This government is growing day-to-day spending at an average of 2.0% per year in real terms between 2023-24 and 2029-30 to support public services.
    • This government is boosting public investment by over £100 billion over the next five years whilst keeping debt on a downward path, with a greater focus on value for money and delivery to help unlock long-term growth.
    • Capital investment will increase by £13 billion next year, taking total departmental capital spending to £131 billion in 2025-26. This includes increased investment in local roads maintenance and local transport, supporting everyday journeys, and driving growth in our regional towns and cities.
    • The government is also making the reforms needed to deliver sustained growth in the long-term. These include ambitious planning reforms to remove barriers to growth, the development of a 10-year infrastructure strategy to be published alongside Phase 2 of the Spending Review, the publication shortly of the Get Britain Working White Paper, and the establishment of Skills England to ensure we have the highly-trained workforce needed to deliver economic growth.
    • An extra £200 million will be given to Metro Mayors for local transport in 2025/26, bringing City Region Sustainable Transport Settlements to over £1.3 billion.
    • The government is also announcing over £650 million for improving transport in towns, villages, and rural areas alongside our city regions.
    • Single bus fares will be kept down at £3 until the end of 2025, as part of an over £1bn package to support bus services across the country.
    • To fully harness its potential and foster a dynamic investment economy, the government is protecting record levels of government R&D investment with £20.4 billion allocated in 2025-26.
    • To boost digital infrastructure in under-served areas across the UK and support growth in the digital and technology sectors, the government will invest over £500 million in Project Gigabit and the Shared Rural Network next year.
    • A new housing package will include £500 million in new funding for the Affordable Homes Programme, increasing it to £3.1 billion, the biggest annual budget for affordable housing in over a decade. This brings total investment in housing supply to over £5 billion and supports the delivery of tens of thousands of new homes.
    • £3 billion of additional support will be provided to SMEs and the Build to Rent sector by expanding existing housing guarantee schemes to support a strong and diverse private housing market.
    • The Budget also began the government’s reform of business rates to help level the playing field for high streets across the country as from 2026-27 permanently lower tax rates for retail, hospitality and leisure properties will be introduced. This will be funded sustainably by introducing a higher multiplier for the most valuable properties, including distribution warehouses used by online giants.
    • To support the transition, the Chancellor also announced a 40% relief for retail, hospitality and leisure, up to a cap of £110,000 per business. The small business multiplier will also be frozen next year to protect against inflationary increases. This support is worth almost £2.4 billion over the next five years. One third of business properties will continue to pay no business rates because of Small Business Rates Relief.

    Repairing public finances

    The Chancellor has made clear that, whilst protecting working people with measures to reduce the cost of living, there would be difficult decisions required on tax. The Budget will ask businesses and the wealthiest to pay their fair share while making taxes fairer. This will go directly towards fixing the foundations and funding public services such as the NHS and education.

    • The rate of employer National Insurance will increase by 1.2 percentage points, to 15% from 6 April 2025. The Secondary Threshold – the level at which employers become liable to pay national insurance on each employee’s salary – will reduce from £9,100 per year to £5,000 per year.
    • The smallest businesses will be protected as the Employment Allowance will increase to £10,500 from £5,000 and be extended to all eligible employers by removing the £100,000 cap, allowing firms to employ up to four National Living Wage workers full time without paying employer National Insurance on their wages.
    • Capital Gains Tax (CGT) will increase from 10% to 18% for those paying the lower rate, and 20% to 24% for those paying the higher rate. These new rates will match the residential property rates, which will unchanged at 18 for the lower rate and 24% for the higher rate.
    • To encourage entrepreneurs to invest in their businesses, Business Asset Disposal Relief (BADR) will remain at 10% this year, before rising to 14% on 6 April 2025 and 18% from 6 April 2026-27.
    • The OBR say changes to CGT will raise £2.5 billion by the end of the forecast and the UK will continue to have the lowest CGT rate of any European G7 country.
    • Inheritance tax thresholds will be fixed at their current levels for a further two years until April 2030. More than 90% of estates each year will not pay inheritance tax. From April 2027 inherited pension pots will be subject to inheritance tax. This removes a distortion which has led to pensions being used as a tax planning vehicle to transfer wealth rather than their original purpose to fund retirement.
    • From April 2026, agricultural property relief and business property relief will be reformed. The highest rate of relief will continue at 100% for the first £1 million of combined business and agricultural assets on top of the existing nil-rate bands, fully protecting the majority of businesses and farms. The rate of relief will reduce to 50% after the first £1 million. Reforms will affect the wealthiest 2,000 estates each year. Inheritance tax reforms are predicted by the OBR to raise £2 billion in total to support public services.

    • The government will also uprate alcohol duty in line with RPI, except for most drinks in pubs. To support British pubs, and brewers, the government is reducing duty on qualifying draught products, which represent approximately 3 in 5 alcoholic drinks sold in pubs.
    • This measure reduces duty bills by over £85 million a year, cutting duty on an average strength pint in a pub by a penny. The value of the relief available to small producers will also be increased to help smaller brewers and cidermakers.   

    • From 2026-27 Air Passenger Duty (APD) rates for short and long-haul flights will be adjusted to partially account for previous high inflation. For economy passengers, this is only a £1 increase for domestic flights, £2 extra for short haul, and £12 more for long-haul flights, with children under the age of 16 remaining exempt from APD. APD for larger private jets will be increased by a further 50%. These changes will help align with the government’s environmental objectives.

    To further support the government’s mission to fix the NHS, the Budget announces a package of measures that disincentivise activities that cause ill health, by:

    • Renewing the tobacco duty escalator which increases all tobacco duty rates by RPI+2% plus an above escalator increase to hand rolling tobacco (totalling RPI+12%).  
    • Introducing a new vaping duty at a flat rate of 22p/ml from October 2026, accompanied by a further one-off increase in tobacco duty to maintain financial incentive to choose vaping over smoking. 
    • To help tackle obesity and other harms caused by high sugar intake, the Soft Drinks Industry Levy will increase over the next five years to account for inflation since it was last updated in 2018, and the duty will also rise in line with inflation every year going forward.

    The government set out the next steps to deliver its tax manifesto commitments in the July Statement. Having consulted on the final policy details where appropriate, Budget delivers the government’s manifesto commitments to raise revenue to pay for first steps, with reforms that are underpinned by fairness, and tackle tax avoidance by:  

    • A new residence-based regime will replace the current non-dom regime from April 2025 and will be designed to attract investment and talent to the UK.
    • Offshore trusts will no longer be able to be used to shelter assets from Inheritance Tax, and there will be transitional arrangements in place for people who have made plans based on current rules.
    • The planned 50% reduction for foreign income in the first year of the new regime will be removed.
    • Reforms to the non-dom regime will raise a total of £12.7 billion according to the OBR.

    • The tax treatment of carried interest will be reformed by first increasing the Capital Gains Tax rates on carried interest to 32% and then, from April 2026, moving to a revised regime – with bespoke rules to reflect the characteristics of the reward.
    • The Higher Rate for Additional Dwellings surcharge of Stamp Duty Land Tax will rise from 3 to 5%, providing those looking to move home, or purchase their first property, with a comparative advantage over second home buyers, landlords, and businesses purchasing residential property.
    • To secure additional funding to help deliver commitments relating to education and young people, the government will introduce 20% VAT on education and boarding services provided for a charge by private schools from 1 January 2025. The government will also remove business rates charitable rate relief from private schools in England from April 2025. 
    • Over the next five years HMRC, will look to close the UK’s tax gap – the amount of uncollected tax owed to the UK – by bringing in an additional £6.5 billion per year. The revenue will go directly to funding UK public services and fixing the foundations of the economy.
    • The package to close the tax gap will include overhauling HMRC’s IT system to improve their debt management system to ensure tax debt enquiries can be dealt with faster, improving the productivity of the organisation. 5000 additional compliance staff will be recruited and 1,800 debt management staff will also be maintained and recruited. HMRC’s services will be also digitised to make it easier and simpler for taxpayers to self-serve and manage their tax affairs.

    The government has also published its Corporate Tax Roadmap alongside the Budget. This will offer the certainty that encourages investment and gives business the confidence to grow. The Roadmap includes commitments:

    • to cap the headline rate of Corporation Tax at 25%, which is the lowest in the G7;
    • to maintain our world leading capital allowances system (including permanent full expensing and the £1 million Annual Investment Allowance);
    • to preserve the generosity of our R&D reliefs; and
    • to develop a new process for increasing the tax certainty available in advance for major investments.

    Strengthening the fiscal framework

    The Chancellor has paved the way for growth while doubling down on fiscal responsibility by making reforms to the fiscal framework. This is based on two new fiscal rules: the stability rule and the investment rule.

    • The stability rule will balance the current budget, so day-to-day costs are met by revenues.
    • The investment rule will ensure that net financial debt is falling as a proportion of GDP. This rule keeps debt on a sustainable path whilst allowing the step change needed for investment.
    • Both of these rules will be met two years early in 2027-28.
    • This investment will be underpinned by clear guardrails to ensure it is high quality and well delivered.
    • Our ten-year infrastructure strategy will provide industry a vision of the government’s priorities and a credible delivery plan to encourage investment and supply chains.
    • NISTA will be the central body that brings strategy and delivery together under one roof to implement this strategy working across Whitehall and industry.
    • Further reforms will help deliver stability by holding Spending Reviews every two years, setting plans for at least three years to ensure public services are always planned and improve value for money. One major fiscal event per year will give families and businesses stability and certainty on tax and spending changes.
    • The Fiscal Lock will ensure no future government can sideline the OBR again, and we are committing to improving the transparency and consistency of the spending information shared with the OBR.
    • The government will also introduce new controls: that financial investments should by default target a return for the Exchequer that at least covers the government’s cost of borrowing, that all large-scale financial transactions will be managed by expert bodies like the National Wealth Fund, and that the government will publish an annual report on the performance and value of its financial assets based on accounts audited by the National Audit Office.

    Updates to this page

    Published 30 October 2024

    MIL OSI United Kingdom

  • MIL-OSI USA: Disaster Recovery Center Opening in McCormick County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opening in McCormick County

    Disaster Recovery Center Opening in McCormick County

    COLUMBIA, S.C. – A Disaster Recovery Center will open in McCormick County to provide in-person assistance to South Carolinians affected by Hurricane Helene.  McCormick CountyMcCormick County Library 201 Railroad Ave. McCormick, SC 29835Open Oct. 30 – Nov. 5, 8 a.m.- 7 p.m. Additional Disaster Recovery Centers are scheduled to open in other South Carolina counties. Click here to find centers that are already open in South Carolina. You can visit any open center to meet with representatives of FEMA, the state of South Carolina and the U.S. Small Business Administration. No appointment is needed. To find all other center locations, including those in other states, go to fema.gov/drc or text “DRC” and a Zip Code to 43362. Homeowners and renters in Abbeville, Aiken, Allendale, Anderson, Bamberg, Barnwell, Beaufort, Cherokee, Chester, Edgefield, Fairfield, Greenville, Greenwood, Hampton, Jasper, Kershaw, Laurens, Lexington, McCormick, Newberry, Oconee, Orangeburg, Pickens, Richland, Saluda, Spartanburg, Union and York counties and the Catawba Indian Nation can apply for federal assistance.The quickest way to apply is to go online to DisasterAssistance.gov. You can also apply using the FEMA App for mobile devices or calling toll-free 800-621-3362. The telephone line is open every day and help is available in many languages. If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA your number for that service. For a video with American Sign Language, voiceover and open captions about how to apply for FEMA assistance, select this link.FEMA programs are accessible to survivors with disabilities and others with access and functional needs. 
    gerard.hammink
    Wed, 10/30/2024 – 14:08

    MIL OSI USA News

  • MIL-OSI Africa: Mining must become more responsible and sustainable. Where hi-tech solutions fit in

    Source: The Conversation – Africa – By Rennie Naidoo, Professor of Information Systems, University of the Witwatersrand

    If you visit a commercial mining operation anywhere in the world today, some sights and sounds – workers descending in elevators to underground shafts, the roar of truck engines – will be much the same as they have been for decades.

    But, like many other industries, mining is changing. Digital mining involves the use of digital technologies to make mining operations more efficient, safer, and sustainable. This industry emerged about a decade ago and has developed quickly over the past few years. This uptick is the result of recent advances in sensor technology, data analytics and artificial intelligence (AI), including machine learning.

    However, while technology improves, old problems persist. Large-scale mining causes massive deforestation in regions like the Amazon. It also threatens and displaces communities, as in the case of Brazil’s Xikrin and Kayapó people. In the Democratic Republic of Congo (DRC), the mining of cobalt, copper and coltan (all crucial for modern technology) contaminates local water supplies and puts workers – including children – in danger.


    Read more: What coltan mining in the DRC costs people and the environment


    Is it time to make mining obsolete? This is not a realistic solution, at least not in the near future. Many modern technologies, like smartphones, electric vehicles, solar panels and wind turbines, depend on minerals extracted through mining. The global move towards renewable energy and low-carbon technologies means demand for minerals like lithium and cobalt is rising.

    So, while mining has environmental costs, it’s also critical in the shift to a greener economy. And mining is economically important in many parts of the world. In African countries it supports millions of jobs and contributes significantly to GDP.

    This is why sustainable mining is crucial. I am a professor of information systems. I investigate the complex interactions between technology, people and organisations in achieving sustainability goals. In a recent paper with a co-author, I examined how digital technologies could help mining operations to balance economic objectives with environmental and social sustainability.

    The findings make it clear that digital technologies can transform mining practices and achieve sustainability goals at the same time.

    Economic outcomes

    Our paper took the form of a case study. We interviewed professionals from a leading digital mining solutions company. It has operations in South Africa, Australia, Brazil, Chile and the United States. The interviewees were engineers, senior managers and executives. They offered a glimpse into how their large-scale mining clients were using digital technologies like automated haul trucks and collision avoidance systems.

    We wanted to know how their clients saw the role of digital technology in balancing business and other goals. They outlined some successful cases and others where companies were struggling to align all their aims.

    It was clear that the company and its clients recognised the importance of safety and environmental issues in their work. But they saw these issues through the lens of business sustainability. For instance, while some mining companies pursued safety improvements, they did it primarily to boost productivity and bring down costs.

    One interviewee gave the example of collision avoidance systems. Companies valued these because they reduced downtime and improved productivity. They focused on immediate business needs.

    A balancing act

    It’s time for mining companies that are serious about sustainability to shift their focus. Rather than simply looking to make immediate profits, they need to consider environmental and social impacts – and the role digital technology can play.

    As a simple example, AI can predict when machinery is likely to fail. This allows companies to carry out timely maintenance. Equipment lifespan is extended. Downtime and repair costs are reduced. And worker safety is improved because there are fewer unexpected breakdowns. This is the kind of sustainable approach, underpinned by digital technology, that can help mining companies tick all the right boxes.

    Mining leaders must not exclude employees and stakeholders when considering these issues. Environmental advocates have a role to play, too: companies must work with these groups and with local communities. A shared understanding of how digital technologies can meet both financial and sustainability targets is key.

    Mining companies are more likely to change if there are clear financial benefits or penalties tied to sustainability. Governments can help by introducing stricter environmental regulations and offering incentives to adopt sustainable digital technologies. In South Africa, for instance, there are tax incentives and subsidies to encourage the use of renewable energy in mining. These measures, expanded recently in response to the country’s energy crisis, have sparked significant investment in solar power.


    Read more: Africa doesn’t have a choice between economic growth and protecting the environment: how they can go hand in hand


    When paired with digital monitoring systems, renewable energy solutions can enhance efficiency by optimising energy consumption and reducing carbon emissions. Technologies like AI-driven energy management systems can help mines integrate renewable sources with less energy wastage. Thus, tax breaks or subsidies for digital solutions that support green energy adoption could motivate companies to embrace greener and more tech-driven mining practices.

    Consumers and investors, meanwhile, should invest in those mining companies that demonstrate responsible practices. Ethical investment funds need to support companies with strong environmental, social, and governance credentials.

    – Mining must become more responsible and sustainable. Where hi-tech solutions fit in
    – https://theconversation.com/mining-must-become-more-responsible-and-sustainable-where-hi-tech-solutions-fit-in-240558

    MIL OSI Africa

  • MIL-OSI Global: Mining must become more responsible and sustainable. Where hi-tech solutions fit in

    Source: The Conversation – Africa – By Rennie Naidoo, Professor of Information Systems, University of the Witwatersrand

    Digital technologies can make mining more sustainable. Sunshine Seeds/Shutterstock/For editorial use only

    If you visit a commercial mining operation anywhere in the world today, some sights and sounds – workers descending in elevators to underground shafts, the roar of truck engines – will be much the same as they have been for decades.

    But, like many other industries, mining is changing. Digital mining involves the use of digital technologies to make mining operations more efficient, safer, and sustainable. This industry emerged about a decade ago and has developed quickly over the past few years. This uptick is the result of recent advances in sensor technology, data analytics and artificial intelligence (AI), including machine learning.

    However, while technology improves, old problems persist. Large-scale mining causes massive deforestation in regions like the Amazon. It also threatens and displaces communities, as in the case of Brazil’s Xikrin and Kayapó people. In the Democratic Republic of Congo (DRC), the mining of cobalt, copper and coltan (all crucial for modern technology) contaminates local water supplies and puts workers – including children – in danger.




    Read more:
    What coltan mining in the DRC costs people and the environment


    Is it time to make mining obsolete? This is not a realistic solution, at least not in the near future. Many modern technologies, like smartphones, electric vehicles, solar panels and wind turbines, depend on minerals extracted through mining. The global move towards renewable energy and low-carbon technologies means demand for minerals like lithium and cobalt is rising.

    So, while mining has environmental costs, it’s also critical in the shift to a greener economy. And mining is economically important in many parts of the world. In African countries it supports millions of jobs and contributes significantly to GDP.

    This is why sustainable mining is crucial. I am a professor of information systems. I investigate the complex interactions between technology, people and organisations in achieving sustainability goals. In a recent paper with a co-author, I examined how digital technologies could help mining operations to balance economic objectives with environmental and social sustainability.

    The findings make it clear that digital technologies can transform mining practices and achieve sustainability goals at the same time.

    Economic outcomes

    Our paper took the form of a case study. We interviewed professionals from a leading digital mining solutions company. It has operations in South Africa, Australia, Brazil, Chile and the United States. The interviewees were engineers, senior managers and executives. They offered a glimpse into how their large-scale mining clients were using digital technologies like automated haul trucks and collision avoidance systems.

    We wanted to know how their clients saw the role of digital technology in balancing business and other goals. They outlined some successful cases and others where companies were struggling to align all their aims.

    It was clear that the company and its clients recognised the importance of safety and environmental issues in their work. But they saw these issues through the lens of business sustainability. For instance, while some mining companies pursued safety improvements, they did it primarily to boost productivity and bring down costs.

    One interviewee gave the example of collision avoidance systems. Companies valued these because they reduced downtime and improved productivity. They focused on immediate business needs.

    A balancing act

    It’s time for mining companies that are serious about sustainability to shift their focus. Rather than simply looking to make immediate profits, they need to consider environmental and social impacts – and the role digital technology can play.

    As a simple example, AI can predict when machinery is likely to fail. This allows companies to carry out timely maintenance. Equipment lifespan is extended. Downtime and repair costs are reduced. And worker safety is improved because there are fewer unexpected breakdowns. This is the kind of sustainable approach, underpinned by digital technology, that can help mining companies tick all the right boxes.

    Mining leaders must not exclude employees and stakeholders when considering these issues. Environmental advocates have a role to play, too: companies must work with these groups and with local communities. A shared understanding of how digital technologies can meet both financial and sustainability targets is key.

    Mining companies are more likely to change if there are clear financial benefits or penalties tied to sustainability. Governments can help by introducing stricter environmental regulations and offering incentives to adopt sustainable digital technologies. In South Africa, for instance, there are tax incentives and subsidies to encourage the use of renewable energy in mining. These measures, expanded recently in response to the country’s energy crisis, have sparked significant investment in solar power.




    Read more:
    Africa doesn’t have a choice between economic growth and protecting the environment: how they can go hand in hand


    When paired with digital monitoring systems, renewable energy solutions can enhance efficiency by optimising energy consumption and reducing carbon emissions. Technologies like AI-driven energy management systems can help mines integrate renewable sources with less energy wastage. Thus, tax breaks or subsidies for digital solutions that support green energy adoption could motivate companies to embrace greener and more tech-driven mining practices.

    Consumers and investors, meanwhile, should invest in those mining companies that demonstrate responsible practices. Ethical investment funds need to support companies with strong environmental, social, and governance credentials.

    Rennie Naidoo 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. Mining must become more responsible and sustainable. Where hi-tech solutions fit in – https://theconversation.com/mining-must-become-more-responsible-and-sustainable-where-hi-tech-solutions-fit-in-240558

    MIL OSI – Global Reports

  • MIL-OSI Economics: 2024 release wave 2 for Microsoft Dynamics 365 and Power Platform launches with hundreds of Copilot capabilities

    Source: Microsoft

    Headline: 2024 release wave 2 for Microsoft Dynamics 365 and Power Platform launches with hundreds of Copilot capabilities

    We’ve launched 2024 release wave 2 for Microsoft Dynamics 365, Microsoft Power Platform, and role-based Microsoft Copilot offerings—introducing a rollout of new features and enhanced capabilities releasing between October 2024 and March 2025. These updates include advanced Copilot capabilities for Microsoft 365 Copilot for Sales, Copilot for Service, and Copilot for Finance to empower your workforce, optimize business processes, and enhance customer engagement.

    Catch all the highlights and demos from today’s Microsoft Business Applications Launch Event. In addition to newly-announced features, you’ll learn how companies like Lynk & Co, Lifetime Products, Stoneridge Software, AIS, and Schneider Electric are leveraging these new features to drive transformation.

    Copilot and agents are the future of AI for business

    2.1 million users engage with Copilot across Microsoft business applications every month, including employees at companies like PayPal, HP, Lumen, and McKinsey & Company. These Copilot experiences can drive new levels of productivity and efficiency while offering high standards of privacy, security, and compliance.

    Moving forward, we envision AI-first organizations will comprise people, Copilot, and agents. Copilot is your AI assistant, designed to work for you. With Microsoft Copilot Studio, you can create, manage, and connect agents to Copilot. Organizations will have a network of agents, ranging from simple prompt-and-response systems to fully autonomous entities, that will operate on behalf of individuals, teams, or functions to execute and orchestrate business processes. Copilot serves as the interface for interacting with these agents, which can handle tasks such as accelerating lead generation, processing sales orders, and automating supply chains. At the Business Applications Launch Event, we showcased new features across Dynamics 365 and Microsoft Power Platform that demonstrate what’s possible with Copilot and agents.

    Thrive with customer experience applications

    2024 release wave 2 brings exciting new features to Dynamics 365 customer experience apps designed to deliver connected and personalized experiences for both customers and employees. These innovations focus on optimizing customer interactions and streamlining sales processes across your organization.

    New capabilities for Microsoft Dynamics 365 Customer Service, Microsoft Dynamics 365 Contact Center, and Microsoft Dynamics 365 Sales include a multilingual bot (supported languages), Copilot-generated prompts, in-line email functionality, and more. These features are set to transform how businesses engage with customers and manage internal processes.

    During the launch event, we showcased how Lynk & Co, an innovative car company, is leveraging the multilingual Copilot Studio bot in Dynamics 365 Customer Service. By using AI-powered voice recognition and Copilot-generated prompts, they’ve been able to optimize customer wait times and improve case resolution speed. These tools have enabled Lynk & Co to significantly reduce case review times while keeping their sales team in the loop, thanks to seamless data sharing between service and sales teams.

    With Copilot’s intelligent automation, sales managers at Lynk & Co can now focus on building customer relationships rather than manually sorting through documents. By streamlining workflows and providing actionable insights, Copilot empowers sales professionals to work more efficiently and drive business growth. These new capabilities—combined with tools like real-time prompts, the Sales Qualification Agent, and account summaries generated by Copilot—offer businesses a modern, intuitive way to stay connected with customers and make smarter decisions faster.

    Explore the release plans for Dynamics 365 Customer Service, Dynamics 365 Contact Center, and Dynamics 365 Sales.

    Defining autonomous enterprise resource planning (ERP) with innovative agents

    Microsoft Dynamics 365 ERP solutions introduce significant enhancements aimed at improving both core functionalities and autonomous capabilities. These updates include the introduction of five autonomous agents for Dynamics 365 designed to streamline processes and boost organizational efficiency. By automating routine tasks, businesses can focus more on strategic decision-making and adapt to the dynamic market landscape.

    For Lifetime Products, a leading global producer of outdoor consumer goods, these improvements have substantially enhanced the productivity of their finance team. The Account Reconciliation Agent for Dynamics 365 Finance autonomously identifies discrepancies between subledgers and ledgers, offering actionable recommendations and reducing manual effort. Additionally, automated bank reconciliation now matches transactions and summarizes histories, saving time and improving accuracy. These features have streamlined their month-end close process across multiple legal entities, enhancing both efficiency and compliance.

    In parallel, Microsoft Dynamics 365 Business Central updates have improved operations for more than 40,000 customers. The Sales Order Agent enables businesses like Stoneridge Software’s clients to manage sales orders without needing additional staffing, speeding up order processing while maintaining service quality. Interoperability between Dynamics 365 Business Central and Microsoft Dynamics 365 Field Service has streamlined service order management, reducing manual data entry and errors. This automation allows technicians to work more efficiently, improving the overall customer experience and ensuring timely service delivery.

    Explore the release plans for Dynamics 365 Finance, Microsoft Dynamics 365 Project Operations, Microsoft Dynamics 365 Supply Chain Management, Microsoft Dynamics 365 Commerce, Microsoft Dynamics 365 Human Resources, and Dynamics 365 Business Central.

    Unlock value everywhere with Microsoft Power Platform and Copilot Studio

    Microsoft Power Platform offers new capabilities that enhance automation and app development using AI-powered tools. Copilot simplifies workflows, generates apps, and assists with complex processes, enabling businesses to manage tasks more effectively. With new AI-driven features across Microsoft Power Platform you can create solutions across your organization in record time.

    At the launch event, we highlighted how Applied Information Sciences (AIS) is improving workforce efficiency in vendor invoice management using AI-enabled features in Microsoft Power Automate. With Copilot, automating processes such as routing and approvals based on predefined rules, AIS can handle a large volume of invoices daily, reducing manual input and increasing productivity. Users can easily update workflows with a few clicks, and the new summary functionality ensures clear tracking and sharing of updates.

    AIS’s onboarding process for new consultants supports ongoing training with Copilot in Microsoft Power Apps. “Search with Copilot” allows users to retrieve records using natural language queries, while the AI-enabled paste feature efficiently fills out onboarding forms, reducing manual data entry. Copilot Studio improves IT Helpdesk automation with task assignment and grounding third-party data sources through knowledge management.  This provides analytics for monitoring agent performance and improves accuracy while also enabling a continuous improvement process.

    Explore the release plans for Power Apps, Microsoft Power Pages,  Power Automate, and Copilot Studio.  

    Bring automation to your business with Copilot

    The latest improvements in Microsoft 365 Copilot for Sales, Copilot for Service, and Copilot for Finance focus on enhancing user experience by automating routine tasks and providing actionable insights through autonomous agents. These advanced functionalities allow sales teams, customer service representatives, and finance professionals to offload repetitive activities, enabling them to concentrate on strategic initiatives. As a result, organizations can optimize efficiency and improve overall productivity.

    For instance, companies like Lumen and Genpact have experienced significant time savings with Microsoft 365 Copilot for Sales and Microsoft 365 Copilot for Finance capabilities. Lumen reported a 94% reduction in research time for sales data, while Genpact achieved over a 50% decrease in payroll processing time through automated reconciliation. These enhancements demonstrate how Copilot agents are not only improving workflows but also positively impacting the workforce’s efficiency.

    Schneider Electric is another example of a company benefiting from these advancements. Its sales team can now effectively prioritize leads with the help of the Lead Intelligence Agent, which analyzes customer interactions and external data to deliver enriched insights. This streamlined approach allows sales representatives to engage with prospects more strategically, ultimately supporting their goal of enhancing efficiency and driving revenue growth.

    Explore the release plans for Microsoft Copilot for Finance, Microsoft Copilot for Service, and Microsoft Copilot for Sales.

    Business Applications Launch Event

    Dive deeper into the new and enhanced AI capabilities included in the 2024 release wave 2.

    Watch the virtual Microsoft Business Applications Launch Event

    Join us for the on-demand Microsoft Business Applications Launch Event to discover the latest enhancements in Dynamics 365, Microsoft Power Platform, and Microsoft Copilot apps. The event features in-depth demos of new autonomous agents and other capabilities designed to optimize your workflows and streamline operations.

    Don’t forget to review the detailed release plans for Dynamics 365 and Microsoft Power Platform. Stay updated on the latest features and upcoming enhancements, and create your personalized release plan using the release planner to ensure you’re equipped with the knowledge needed to maximize these new capabilities.

    MIL OSI Economics

  • MIL-OSI United Kingdom: Update following round 5 of negotiations on an enhanced Free Trade Agreement with Switzerland

    Source: United Kingdom – Executive Government & Departments

    The fifth round of negotiations on an enhanced Free Trade Agreement (FTA) with Switzerland took place in London between 14 and 18 October 2024

    The fifth round of negotiations on an enhanced Free Trade Agreement (FTA) with Switzerland took place in London between 14 and 18 October 2024.

    The talks were the UK’s first with the Swiss since the Secretary of State for Business and Trade announced the government’s intention to deliver the UK’s FTA negotiations programme in July.  

    FTAs have an important role to play in achieving economic growth. A stronger trade relationship with Switzerland will contribute to growth, jobs and prosperity in the UK, providing long-term certainty on UK business travel to Switzerland and helping data and ideas flow seamlessly between two world-leading services powerhouses. Total trade between the UK and Switzerland was worth £50.8 billion in 2023.  

    UK negotiators made good progress in this round and covered almost all areas of the negotiation.

    Talks continue to be constructive, with both countries working towards agreeing ambitious outcomes in key areas, including services, investment and digital.

    Round 6 of negotiations is expected to take place in Switzerland in early 2025. The government will continue to work towards delivering outcomes in the FTA that secure economic growth for the UK. 

    The government will only ever sign a trade agreement which aligns with the UK’s national interests, upholding our high standards across a range of sectors, including protections for the National Health Service.   

    Any organisations or individuals interested in speaking to the Department for Business and Trade about negotiations with Switzerland should do so by emailing ch.fta.engagement@businessandtrade.gov.uk.

    Updates to this page

    Published 30 October 2024

    MIL OSI United Kingdom

  • MIL-OSI USA: SEC Announces New Members of Small Business Capital Formation Advisory Committee

    Source: Securities and Exchange Commission

    The Securities and Exchange Commission today announced four new members of the Small Business Capital Formation Advisory Committee. The new members were appointed to four-year terms and will join the 14 current Commission-appointed committee members.

    “I thank the new members for their willingness to serve on the Advisory Committee, which plays an important role in our work to facilitate capital formation for companies of every size,” said SEC Chair Gary Gensler. “Small businesses employ nearly half of America’s workforce and make up more than 99 percent of America’s businesses. The new members named today understand this well, and I am pleased the SEC will benefit from their valuable experiences and insights.”

    The new Commission-appointed committee members are:

    • Jennifer Newton – Managing Attorney and Founder, StartSmart Counsel; Miami
    • Rose Standifer – Partner, Foley Hoag LLP; Denver
    • Wendy Stevens – Partner, Forvis Mazars LLP; New York
    • Emily Underwood – Clinical Professor of Law, Bluhm-Helfand Director of the Innovation Clinic, The University of Chicago Law School; Chicago

    In addition to the 14 appointed members, the current committee members include the SEC’s Small Business Advocate, and three non-voting members appointed by the SEC’s Investor Advocate, the North American Securities Administrators Association, and the Small Business Administration, respectively. The committee also has an observer appointed by the Financial Industry Regulatory Authority.

    The committee provides advice and recommendations to the Commission on rules, regulations, and policy matters relating to small businesses, including smaller public companies. Committee members represent a diverse spectrum of entrepreneurs, investors, and advisers who work with early-stage private companies and smaller public companies, including minority- and women-owned small businesses. Additional information about the committee, its members, and prior meeting materials is available on the committee webpage.

    MIL OSI USA News

  • MIL-OSI United Kingdom: A Budget to fix the foundations and deliver change for Northern Ireland

    Source: United Kingdom – Executive Government & Departments

    The UK Chancellor delivered the Autumn Budget today (Wednesday 30 October 2024)

    Autumn Budget 2024

    • Chancellor takes long-term decisions to restore stability, rebuild the United Kingdom and protect working people across Northern Ireland.
    • No change to working people’s payslips as employee national insurance, income tax and VAT stay the same, but businesses and the wealthiest asked to pay their fair share.
    • Record £18.2 billion for the Northern Ireland Executive in 2025/26 including an additional £1.5 billion through the Barnett formula.
    • City and Growth Deals confirmed to continue to unlock growth and investment, while over £45 million is provided for counter-terrorism and security funding.

    The Chancellor has delivered a Budget to fix the foundations to deliver on the promise of change after a decade and a half of stagnation. She set out plans to rebuild the United Kingdom, while ensuring working people across Northern Ireland don’t face higher taxes in their payslips.

    The UK Government was handed a challenging inheritance; £22 billion of unfunded in-year spending pressures, debt at its highest since the 1960s, an unrealistic forecast for departmental spending, and stagnating living standards.

    This Budget takes difficult decisions to restore economic and fiscal stability, so that the UK Government can invest in the economic future of Northern Ireland and lay the foundations for growth across the UK as its number one mission.

    The Chancellor announced that the Northern Ireland Executive will be provided with a £18.2 billion settlement in 2025/26 – the largest in real terms in the history of devolution. This includes a £1.5 billion top-up through the Barnett formula, with £1.2 billion for day-to-day spending and £270 million for capital investment.

    Secretary of State for Northern Ireland Hilary Benn said:

    This is the biggest real terms settlement for Northern Ireland since devolution. 

    The Northern Ireland Executive will get an additional £640 million in Barnett consequentials this year, and an additional £1.5 billion next year. 

    This will provide  a strong foundation for stability and growth, and sees the UK Government delivering real change for the people of Northern Ireland.

    We have also confirmed the UK Government’s investment in Northern Ireland’s City and Growth deals, which is a huge boost to communities in both rural and urban areas. The Mid South West and Causeway Coast and Glens Deals alone will receive a combined investment from the UK Government of £162 million, and I look forward to seeing them progress and make a real impact now and in years to come. 

    Meanwhile, measures such as the Northern Ireland Enhanced Investment Zone, continuing support for Northern Ireland integrated schooling and the UK-wide investment of over £500m in digital infrastructure through Project Gigabit and the Shared Rural Network benefit people across Northern Ireland’s communities.

    The increase to £37.8 million in funding for the Police Service of Northern Ireland through the Additional Security Fund, combined with £8 million for the Executive Programme on Paramilitarism and Organised Crime, underscores the UK Government’s continuing and steadfast commitment to security.

    This budget is positive news for people across Northern Ireland, encouraging economic growth and enabling the conditions for a brighter future.

    Protecting working people and living standards

    While fixing the inheritance requires tough decisions, the Chancellor has committed to protecting the living standards of working people. The decisions taken by the Chancellor to rebuild public finances enable the UK Government to deliver on its pledge to not increase National Insurance, Income Tax or VAT on working people in Northern Ireland, meaning they will not see higher taxes in their payslip.

    • The National Living Wage will increase from £11.44 to £12.21 an hour from April 2025. The 6.7% increase – worth £1,400 a year for a full-time worker – is a significant move towards delivering a genuine living wage.
    • The National Minimum Wage for 18 to 20-year-olds will also see a record rise from £8.60 to £10 an hour.
    • Working people will benefit from these increases, with there estimated to be around 100,000 minimum wage workers in Northern Ireland in 2023.
    • The Chancellor has made the decision to protect working people in Northern Ireland from being dragged into higher tax brackets by confirming that Income Tax and National Insurance Contributions thresholds will be unfrozen from 2028-29 onwards. 
    • The Chancellor is also protecting motorists by freezing fuel duty for one year – a tax cut worth £3 billion, with the temporary 5p cut extended to 22 March 2026. This will benefit an estimated 1.3 million people in Northern Ireland, saving the average car driver £59, vans £126 and Heavy Goods Vehicles £1,079 next year.
    • To support pubs and smaller brewers in Northern Ireland, the UK Government is cutting duty on qualifying draught products by 1p, which represent approximately 3 in 5 alcoholic drinks sold in pubs. This measure reduces duty bills by over £70 million a year, cutting duty on an average strength pint in a pub by a penny. The relief available to small producers will be updated to help smaller brewers and cidermakers.  

    Rebuilding the United Kingdom

    This UK Government will not make a return to austerity and will instead boost investment to rebuild Britain and lay the foundations for growth in Northern Ireland. This includes £760 million of targeted funding for the Northern Ireland Executive, of which £662 million is as committed in the 2024 restoration financial package and £90 million is for capital investment.

    • The UK Government today confirmed that investment in the Mid South West and Causeway Coast and Glens City Deals will continue, supported by a value for money assessment as part of the review of the business cases for projects to ensure best value is being delivered. The Mid South West and Causeway Coast and Glens Deals deliver a combined investment from UK Government of £162 million over 15 years to rural areas in Northern Ireland.
    • The Chancellor committed the UK Government to working closely with the Northern Ireland Executive on the Industrial Strategy, 10-year infrastructure strategy and the National Wealth Fund – to ensure the benefits of these are felt UK-wide and as part of the relationship reset between governments. These will mobilise billions of pounds of investment in the UK’s world-leading clean energy and growth industries.
    • The UK Government has today reaffirmed its commitment to develop an Enhanced Investment Zone in Northern Ireland and will continue to work closely with the Northern Ireland Executive to develop proposals.
    • The UK Government has increased funding to £37.8 million for the Police Service of Northern Ireland’s Additional Security Fund and confirmed £8 million for the Executive Programme on Paramilitarism and Organised Crime to ensure that people and communities are kept safe from violence and harm.
    • To support community cohesion the UK Government is providing £730,000 of additional funding in 2025-26 to support schools in Northern Ireland through the transformation process as they work towards integrated status.
    • Under-served parts of Northern Ireland will benefit from the rollout of digital infrastructure enabled by over £500 million of UK-wide investment in Project Gigabit and the Shared Rural Network.
    • A corporate tax roadmap will provide businesses with the stability and certainty they need to make long-term investment decisions and support our growth mission. It confirms our competitive offer, with the lowest Corporate Tax rate in the G7 and generous support for investment and innovation.
    • The UK Government will also proceed with implementing the 45%/40% rates of the theatre, orchestra, museum and galleries tax relief from 1 April 2025 to provide certainty to businesses in Northern Ireland’s thriving cultural sector.

    Repairing public finances

    The Chancellor has made clear that, whilst protecting working people with measures to reduce the cost of living, there would be difficult decisions required. The Budget will ask businesses and the wealthiest to pay their fair share while making taxes fairer. This will go directly towards fixing the foundations of the UK economy.

    • The rate of Employers’ National Insurance will increase by 1.2 percentage points, to 15%. The Secondary Threshold – the level at which employers start paying national insurance on each employee’s salary – will reduce from £9,100 per year to £5,000 per year.
    • The smallest businesses will be protected as the Employment Allowance will increase to £10,500 from £5,000, allowing firms in Northern Ireland to employ four National Living Wage workers full time without paying national insurance on their wages.
    • Capital Gains Tax will increase from 10% to 18% for those paying the lower rate, and 20% to 24% for those paying the higher rate.
    • To encourage entrepreneurs to invest in their businesses Business Asset Disposal Relief (BADR) will remain at 10% this year, before rising to 14% on 6 April 2025 and 18% from 6 April 2026-27.
    • The lifetime limit of BADR will be maintained at £1 million. The lifetime limit of Investors’ Relief will be reduced from £10 million to £1 million.
    • The OBR say changes to CGT will raise over £2.5 billion a year and the UK will continue to have the lowest CGT rate of any European G7 country.
    • Inheritance Tax thresholds will be fixed at their current levels for a further two years until April 2030. More than 90% of estates each year will be outside of its scope. From April 2027 inherited pensions will be subject to Inheritance Tax. This removes a distortion which has led to pensions being used as a tax planning vehicle to transfer wealth rather than their original purpose to fund retirement.
    • From April 2026, agricultural property relief and business property relief will be reformed. The highest rate of relief will continue at 100% for the first £1 million of combined business and agricultural assets, fully protecting the majority of businesses and farms. It will reduce to 50% after the first £1 million. Reforms will affect the wealthiest 2,000 estates each year. Inheritance Tax reforms in total are predicted by the OBR to raise £2 billion to support stability.

    The Budget also announced a package of measures that disincentivise activities that cause ill health, by:

    • Renewing the tobacco duty escalator which increases all tobacco duty rates by RPI+2% plus an above escalator increase to hand rolling tobacco (totalling RPI+12%).  
    • Introducing a new vaping duty at a flat rate of 22p/ml from October 2026, accompanied by a further one-off increase in tobacco duty to maintain financial incentive to choose vaping over smoking. 
    • To help tackle obesity and other harms caused by high sugar intake, the Soft Drinks Industry Levy will increase to account for inflation since it was last updated in 2018, and the duty will rise in line with inflation every year going forward.
    • The UK Government will also uprate alcohol duty in line with RPI on 1 February 2025, except for most drinks in pubs

    The UK Government has set out the next steps to deliver its tax manifesto commitments in the July Statement. Having consulted on the final policy details where appropriate, this Budget delivers the UK Government’s manifesto commitments to raise revenue to pay for First Steps, with reforms that are underpinned by fairness, and tackle tax avoidance by:  

    • A new residence-based regime will replace the current non-dom regime from April 2025 and will be designed to attract investment and talent to the UK.
    • Offshore trusts will no longer be able to be used to shelter assets from Inheritance Tax, and there will be transitional arrangement in place for people who have made plans based on current rules.
    • The planned 50% reduction for foreign income in the first year of the new regime will be removed.
    • Reforms to the non-dom regime will raise a total of £12.7 billion according to the OBR.
    • The tax treatment of carried interest will be reformed by first increasing the Capital Gains Tax rates on carried interest to 32% and then, from April 2026, moving to a revised regime – with bespoke rules to reflect the characteristics of the reward.

    • The Higher Rate for Additional Dwellings surcharge of Stamp Duty Land Tax will rise from 3 to 5%, providing those looking to move home, or purchase their first property, with a comparative advantage over second home buyers, landlords, and businesses purchasing residential property.

    • The UK Government will also introduce 20% VAT on education and boarding services provided for a charge by private schools from 1 January 2025.

    The Chancellor also doubled down on fiscal responsibility through two new fiscal rules that put the public finances on a sustainable path and prioritise investment to support long-term growth, and new principles of stability. Spending Reviews will be held every two years, setting plans for at least three years to ensure public services are always planned and improve value for money. 

    One major fiscal event per year will give families and businesses stability and certainty on tax and spending changes, while giving the Northern Ireland Executive greater clarity for in its own budget-setting.  A Fiscal Lock will also ensure no future government can sideline the OBR again.

    Updates to this page

    Published 30 October 2024

    MIL OSI United Kingdom

  • MIL-OSI: HP Equips Partners for the AI Era with New Amplify AI Program

    Source: GlobeNewswire (MIL-OSI)

    Accelerates partner ability to drive customer AI adoption with innovative tools

    News Highlights

    • Unveils HP Amplify AI, a persona-based program to enhance partners’ ability to drive AI outcomes
    • Introduces advanced AI-powered tools to enhance sales, partner, and customer experiences
    • Provides greater global access to AI MasterClass training with localized content
    • Expands HP Business Partner Program globally to engage broader partner ecosystem

    PALO ALTO, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) — Today HP Inc. (NYSE: HPQ) announced a new HP Amplify program for partners, HP Amplify AI. HP Amplify AI is a customizable program designed to boost partner capabilities in achieving positive AI outcomes offering AI guidance, tools, resources, training, and certification. Other enhancements unveiled today include new AI-powered tools, availability of refreshed HP Future Ready AI MasterClass content in multiple languages, and global expansion of the HP Business Partner Program.

    “HP is at the forefront of the future of work, delivering trusted experiences that empower growth and focus on meaningful tasks. As AI transforms industries, we are committed to supporting our partners with AI knowledge, certification, and tools,” said Kobi Elbaz, SVP and General Manager, Global Channel, Sales Innovation and Operations at HP. “Collaboration with our partners fuels growth and enhances capabilities, leading to more meaningful customer experiences and outcomes.”

    Empowering Partners to Drive AI Adoption and Sales
    With worldwide AI spending expected to reach 632 billion by 2028, partners are exploring opportunities to drive AI adoption both within their own businesses and to help their customers increase productivity by focusing on high-value work. With a history of innovation, strategic partnerships with leading software and hardware providers, and a legacy of trust spanning over eight decades, HP is uniquely positioned to lead in the era of artificial intelligence.

    To support partners in their increasingly AI-centric advisory role to customers, HP is launching HP Amplify AI, a persona-based program tailored to enhance partners’ unique capabilities and drive AI outcomes. Launching on November 1, 2024, this new program will include HP Amplify AI HUB, a centralized resource for AI training, certification, and tools, offering role-based opportunities to help partners sell AI devices and solutions more effectively.

    On top of a comprehensive suite of assets, eligible partners can benefit from coaching and practical use cases that illustrate how AI PCs can improve productivity and drive positive outcomes for customers. Partners can gain certification opportunities and recognition for HP AI proficiency and AI-powered sales tools to track their progress. By developing the necessary AI credentials, partners can support customers on their AI journey and future-proof their businesses with AI-powered products and solutions. The initial rollout of HP Amplify AI will begin worldwide on November 1, 2024.

    Additionally, as refresh cycles present a significant opportunity for partners and customers to prepare for future AI advancements, HP is also delivering targeted sales resources to foster the adoption of HP AI products and solutions while driving business growth for partners and their customers.

    Improving Partner Experiences and Productivity
    Creating better outcomes and experiences starts with driving operational productivity. This quarter, HP is rolling out an AI Chatbot to answer queries and guide partners through the HP Partner Portal, making it easier to find information quickly. In addition, HP is improving collaboration with faster pricing turnaround times using the AI-powered Configured Price Quote (CPQ) platform, available in 108 countries.

    In May, HP released the HP Future Ready AI MasterClass AI training and certification program to help HP employees and HP Amplify partners gain a competitive edge. The program offers tailored role-based online training for sales representatives, account managers and technical consultants. Over the past six months, more than 12,000 users have enrolled in the AI MasterClass, surpassing expectations. In response to increased adoption, HP has rolled out refreshed content available in new languages allowing users globally to augment their expertise and capabilities to stay ahead in the rapidly changing AI landscape.

    Engaging a Broader Ecosystem
    The award-winning HP Amplify program drives partner development through a simplified global structure, rewarding performance, collaboration, and capabilities. To provide a clear path to membership, HP has expanded the HP Business Partner Program globally by taking on a larger community of non-HP Amplify partners and boosting SMB growth via Distributors.

    The HP Business Partner Program offers partner accreditation, brand visibility, and streamlined processes for superior customer experiences. Participants will benefit from quick onboarding, and a consistent global digital experience with instant pricing, product details, training materials, and sales and marketing resources.         

    About HP Amplify
    HP Amplify is an industry leading global 1 partner program optimized to drive dynamic partner growth and deliver consistent end customer experiences and outcomes. It delivers a simplified and easy-to-navigate global structure, which rewards partners based on three pillars: performance, collaboration, and capabilities. Since the launch of HP Amplify, HP has expanded the program with Amplify Data Insights, Amplify Retail, Amplify Online, and Amplify Impact.

    About HP
    HP Inc. is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more. For more information, please visit http://www.hp.com.

    Resources:

    1 All geographic markets apart from Greater China

    The MIL Network

  • MIL-OSI: Felix partners with Zero Hash to expand its simplified, borderless remittance solution

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Oct. 30, 2024 (GLOBE NEWSWIRE) — Felix, the chat-based platform that combines Stablecoins and AI to make remittances as easy as sending a WhatsApp, has partnered with Zero Hash, the leading crypto and stablecoin infrastructure platform. Leveraging Zero Hash’s infrastructure that seamlessly connects fiat, crypto and stablecoins, with broad regulatory coverage (across 52 US jurisdictions), Felix now offers their simplified cross-border payments solution to more than 60 million US-based Latinos, who collectively send $150bn to their families every year.

    In just two years, Felix has grown over 500x in payment volume helping hundreds of thousands of Latinos in the US sending money back home to family and friends. In May 2024, Félix Pago raised $15.5 million in Series A funding, and in 2023 they won a prestigious award from CrossTech: ‘Fintech Making a Difference’.

    Felix has identified a crucial need in the Latino immigrant community, where sending money back home using traditional methods is often a complex, slow and expensive process. By integrating their service with Whatsapp, an app used by 85% of Latinos, and using stablecoins to move money across borders 24/7/365 and in near real-time, Felix has created a user-friendly, more cost-efficient solution for sending remittances.

    Through embedding Zero Hash’s infrastructure natively into the Felix service, Felix is able to control the front end customer experience, while Zero Hash handles the end-to-end technical and regulatory compliant money movement on the back end; receiving and converting USD to USDC, and then sending to global partners instantly, who convert the USDC to the local currency, and send the funds to the receiver. Leveraging stablecoins offer a faster and more affordable way to remit money from the US to Mexico.

    “One of the biggest indicators of our success is our NPS score of 90, which is more than double the typical score in the remittance industry. We’re extremely proud of that number. It’s a testament of our success in delivering user-friendly, efficient remittance solutions for the Latino community. By combining a familiar messaging application with stablecoin technology, we’re not just transferring money – we’re ensuring that more of the money that is sent goes to the recipient.” said Manuel J Godoy, Co-Founder & CEO at Felix. ” Zero Hash’s seamless, connected and safe stablecoin infrastructure, abstracts the complexity for us, and means Felix can focus on building the best remittance experience, for the millions of Latinos sending money back home.”

    “This remittance flow, powered by stablecoin technology as the ‘network of networks’, enables sender and receiver to operate in fiat, without having to interact with stablecoins,” said Edward Woodford, Founder and CEO of Zero Hash. “We have always believed that the adoption of crypto and stablecoins will happen when the technology moves from the foreground to the background, and are delighted that the partnership between Zero Hash and Felix achieves that; resulting in simple, instant, and cheap money transfers.”

    About Felix

    Félix is ​​a chat-based platform that enables Latinos in the US to send money abroad. We combine Blockchain and Artificial Intelligence to disrupt how remittances are done today and build the future of cross-border payments.

    Felix launched its services in the summer of 2022 and since then has supported hundreds of thousands of Latinos to send money back home in seconds and at a fraction of the cost of traditional methods. Felix has raised $20m+ in capital from investors including Castle Island Ventures, Switch Ventures, HTwenty, Contour and MELI Capital (the corporate VC of Mercado Libre)

    About Zero Hash

    Zero Hash is a B2B2C crypto-as-a-service infrastructure platform that allows any platform to embed digital assets natively into their own customer experience quickly and easily through a matter of API endpoints. Zero Hash’s turnkey solution handles the entire backend complexity and regulatory licensing required to offer crypto products.

    Zero Hash Holdings, through its subsidiaries, powers neo-banks, broker-dealers, payment groups as well as non-financial brands to offer crypto and stablecoin powered products.

    Zero Hash Holdings is backed by investors, including Point72 Ventures, Bain Capital Ventures, and NYCA.

    Zero Hash LLC is a FinCen-registered Money Service Business and a regulated Money Transmitter that can operate in 51 US jurisdictions. Zero Hash LLC and Zero Hash Liquidity Services LLC are licensed to engage in virtual currency business activity by the New York State Department of Financial Services. In Canada, Zero Hash LLC is registered as a Money Service Business with FINTRAC.

    Zero Hash Australia Pty Ltd. is registered with AUSTRAC as a Digital Currency Exchange Provider, with DCE registered provider number DCE100804170-001. This registration enables Zero Hash to offer its crypto services in Australia. Zero Hash Australia Pty Ltd. is registered on the New Zealand register of financial service providers, with Financial Service Provider (FSP) number FSP1004503. A FSP in New Zealand is a registration and does not mean that Zero Hash Australia Pty Ltd. is licensed by a New Zealand regulator to provide crypto services. Zero Hash Australia Pty Ltd.’s registration on the New Zealand register of financial service providers does not mean that Zero Hash Australia is subject to active regulation or oversight by a New Zealand regulator. Zero Hash Europe B.V. is registered as a Virtual Asset Services Provider (VASP) registration by the Dutch Central Bank (Relation number: R193684). Zero Hash Europe Sp. Zoo is registered as a VASP by the Tax Administration Chamber of Poland in Katowice (Registration number RDWW – 1212).

    Connect with Zero Hash

    Website | Twitter | LinkedIn | Medium

    Zero Hash Contact

    Shaun O’keeffe

    (855) 744-7333

    media@zerohash.com

    Zero Hash Disclosures

    Zero Hash services and product offerings may not be available in all jurisdictions. Zero Hash accounts are not subject to FDIC or SIPC protections, or any such equivalent protections that may exist outside of the US. Zero Hash’s technical support and enablement of any asset is not an endorsement of such asset and is not a recommendation to buy, sell, or hold any crypto asset. The value of any cryptocurrency, including digital assets pegged to fiat currency, commodities, or any other asset, may go to zero. Zero Hash is not registered with the SEC or FINRA. Zero Hash does not provide any securities services and is not a custodian of securities, including security tokens, on behalf of customers.

    The MIL Network

  • MIL-OSI USA: Department of Commerce Heeds Senators’ Call to Establish Committee to Prepare for Major Sporting Events

    US Senate News:

    Source: United States Senator for Kansas – Jerry Moran
    WASHINGTON – Following calls from U.S. Senators Jerry Moran (R-Kan.) and Amy Klobuchar (D-Minn.) – co-chairs of the Senate Travel and Tourism Caucus – and 19 of their colleagues, the U.S. Department of Commerce, in partnership with Department of State, announced today that the Tourism Policy Council will establish a Subcommittee on Large Scale Sporting Events.
    This subcommittee would help ensure the safety and preparedness for major sporting events taking place in cities across the United States over the next decade, including Kansas City. Earlier this year, Sens. Moran and Klobuchar called on the Biden administration to establish a Global Sporting Task Force to help prepare and lead the coordination for upcoming sporting events in the U.S., including the 2026 FIFA World Cup, the 2028 and 2034 Olympic and Paralympic Games and the 2031 Rugby World Cup.
    “Kansas City and other major cities across the country are poised to host some of the world’s most renowned sporting events that will showcase our country and bolster our economy,” said Sen. Moran. “These games will require a coordinated effort at every level of government to make certain athletes and fans remain safe and have a seamless experience traveling to and from the events. I applaud the Department of Commerce for following our calls to establish a committee to provide fans and athletes with a safe, efficient and memorable experience.”
    “As hosts of the 2026 FIFA World Cup and the 2028 Olympics and Paralympic games, the United States has a unique opportunity to strengthen our economy and showcase America’s global leadership,” said Sen. Klobuchar. “Thank you to Secretary Blinken and Raimondo for taking action to welcome visitors to the U.S. by ensuring those traveling to the games have a seamless and safe experience.”
    Sens. Moran and Klobuchar were joined by Sens. Marsha Blackburn (R-Tenn.), Maggie Hassan (D-N.H.), Susan Collins (R-Maine), Ron Wyden (D-Ore.), James Lankford (R-Okla.), Jacky Rosen (D-Nev.), John Hickenlooper (D-Colo.), Michael Bennet (D-Colo.), John Boozman (R-Ark.), Alex Padilla (D-Cali.), Mitt Romney (R-Utah), Cory Booker (D-N.J.), Jon Ossoff (D-Ga.), Shelley Moore Capito (R-W.V.), Raphael Warnock (D-Ga.), Tina Smith (D-Minn.), Kyrsten Sinema (I-Ariz.), Jeff Merkley (D-Ore.) and Jeanne Shaheen (D-N.H.) in calling on the administration to establish this committee.

    MIL OSI USA News

  • MIL-OSI United Kingdom: A Budget to fix the foundations and deliver change for Scotland

    Source: United Kingdom – Government Statements

    Chancellor takes long-term decisions to restore stability, rebuild Britain and protect working people across Scotland.

    • No change to working people’s payslips as employee national insurance and VAT stay the same, but businesses and the wealthiest asked to pay their fair share.
    • Record £47.7 billion for the Scottish Government in 2025/26 includes £3.4 billion through the Barnett formula.
    • Funding for Green Freeports, City and Growth Deals, GB Energy and hydrogen projects to fire up growth and deliver good jobs across Scotland.

    The Chancellor has delivered a Budget to fix the foundations to deliver on the promise of change after a decade and a half of stagnation. She set out plans to rebuild Britain, while ensuring working people across Scotland don’t face higher taxes in their payslips.

    The UK Government was handed a challenging inheritance; £22 billion of unfunded in-year spending pressures, debt at its highest since the 1960s, an unrealistic forecast for departmental spending, and stagnating living standards.

    This Budget takes difficult decisions to restore economic and fiscal stability, so that the UK Government can invest in Scotland’s future and lay the foundations for economic growth across the UK as its number one mission.

    The Chancellor announced that the Scottish Government will be provided with a £47.7 billion settlement in 2025/26 – the largest in real terms in the history of devolution. This includes a £3.4 billion top-up through the Barnett formula, with £2.8 billion for day-to-day spending and £610 million for capital investment.

    Secretary of State for Scotland Ian Murray said:

    This is a historic budget for Scotland that chooses investment over decline and delivers on the promise that there would be no return to austerity.

    It is the largest budget settlement for the Scottish Government in the history of devolution, including an additional £1.5 billion this financial year and an additional £3.4 billion next year through the Barnett formula. That money must reach frontline services, to bring down NHS waiting lists and lift attainment in our schools.

    It will also bring a new era of growth for Scotland and the whole UK, confirming nearly £890 million of direct investment into Freeports, Investment Zones, the Argyll and Bute Growth Deal, and other important local projects across Scotland’s communities, as well as £125 million next year for GB Energy and support for green hydrogen projects in Cromarty and Whitelee.

    The increase in the minimum wage will also mean a pay rise for hundreds of thousands of workers in Scotland, with the biggest increase for young workers ever. This is on top of our employment rights bill which will deliver the biggest upgrade in workers’ rights in a generation. The triple lock means an increase in the state pension by £470 next year, on top of £900 this year for a million Scottish pensioners.

    The budget protects working people in Scotland, delivers more money than ever before for Scottish public services and means an end to the era of austerity.

    Protecting working people and living standards

    While fixing the inheritance requires tough decisions, the Chancellor has committed to protecting the living standards of working people. The decisions taken by the Chancellor to rebuild public finances enable the UK Government to deliver on its pledge to not increase National Insurance or VAT on working people in Scotland, meaning they will not see higher taxes in their payslip.

    • The National Living Wage will increase from £11.44 to £12.21 an hour from April 2025. The 6.7% increase – worth £1,400 a year for a full-time worker – is a significant move towards delivering a genuine living wage.
    • The National Minimum Wage for 18 to 20-year-olds will also see a record rise from £8.60 to £10 an hour.
    • Working people will benefit from these increases, with there estimated to be over 100,000 minimum wage workers in Scotland in 2023.
    • The Chancellor has made the decision to protect working people in Scotland from being dragged into higher tax brackets by confirming that the freeze on National Insurance Contributions thresholds will be lifted from 2028-29 onwards, rising in line with inflation so they can keep more of their hard-earned wages.
    • The Chancellor is also protecting motorists by freezing fuel duty for one year – a tax cut worth £3 billion, with the temporary 5p cut extended to 22 March 2026. This will benefit an estimated 3.2 million people in Scotland, saving the average car driver £59, vans £126 and Heavy Goods Vehicles £1,079 next year.
    • To support Scottish pubs and smaller brewers in Scotland, the UK Government is cutting duty on qualifying draught products by 1p, which represent approximately 3 in 5 alcoholic drinks sold in pubs. This measure reduces duty bills by over £70 million a year, cutting duty on an average strength pint in a pub by a penny. The relief available to small producers will be updated to help smaller brewers and cidermakers.  
    • Over 1 million Scottish pensioners will benefit from a 4.1% increase to their new or basic State Pension in April 2025. This is an additional £470 a year for those on the new State Pension and an additional £360 a year for those on the basic State Pension.
    • Households eligible for Pension Credit will get £465 a year more for single pensioners and up to £710 a year more for couples due to a 4.1% increase in the Pension Credit Standard Minimum Guarantee, benefitting 125,000 pensioners in Scotland.
    • Around 1.7 million families in Scotland will see their working-age benefits uprated in line with inflation – a £150 gain on average in 2025-26.
    • Reducing the maximum level of debt repayments that can be deducted from a household’s Universal Credit payment each month from 25% to 15% will benefit a Scottish family by over £420 a year on average.

    Rebuilding Britain

    This UK Government will not make a return to austerity and will instead boost investment to rebuild Britain and lay the foundations for growth in Scotland. This includes £130 million of targeted funding for the Scottish Government, of which £120 million is in capital investment.

    • The Budget delivers on the first step to establish Great British Energy by providing £125 million next year to set up the institution at its new home in Aberdeen – helping to develop new clean energy projects in Scotland and across the UK. 
    • The UK Government will deliver £122 million for City and Growth Deals, including the continuation of its contribution to the Argyll and Bute Growth Deal which delivers £25 million of investment in the region over 10 years. This Deal will be supported by a rigorous value for money assessment as part of the review of the business cases for projects within it, to ensure best value is being delivered.
    • The Budget gives certainty to local leaders and investors, confirming funding for the Investment Zones and Freeports programmes across the UK – including Scotland’s Green Freeports. 
    • The Chancellor committed the UK Government to working closely with the Scottish Government on the Industrial Strategy, 10-year infrastructure strategy and the National Wealth Fund – to ensure the benefits of these are felt UK-wide and as part of the relationship reset between governments. These will mobilise billions of pounds of investment in the UK’s world-leading clean energy and growth industries.
    • To support economic growth and promote Scottish culture, products and services through diplomatic and trade networks, the UK Government is allocating £750,000 for the Scotland Office in 2025/26 to champion Brand Scotland as was committed in the manifesto.
    • We are supporting Scotland’s world-renowned Scotch Whisky industry by providing up to £5 million for HMRC to reduce the fees charged by the Spirit Drinks Verification Scheme and by ending mandatory duty stamps for spirits on 1 May 2025.
    • Two electrolytic hydrogen projects in Scotland have been selected for UK Government revenue support through the first Hydrogen Allocation Round: Cromarty Green Hydrogen Project and Whitelee Green Hydrogen. Both projects will bring in significant international investment and create good quality, local jobs.
    • An extension of the Innovation Accelerators programme will support the high-potential innovation cluster in the Glasgow City Region.
    • A corporate tax roadmap will provide businesses with the stability and certainty they need to make long-term investment decisions and support our growth mission. It confirms our competitive offer, with the lowest Corporate Tax rate in the G7 and generous support for investment and innovation. 
    • The UK Government will also proceed with implementing the 45%/40% rates of the theatre, orchestra, museum and galleries tax relief from 1 April 2025 to provide certainty to businesses in Scotland’s thriving cultural sector.

    Repairing public finances

    The Chancellor has made clear that, whilst protecting working people with measures to reduce the cost of living, there would be difficult decisions required. The Budget will ask businesses and the wealthiest to pay their fair share while making taxes fairer. This will go directly towards fixing the foundations of the UK economy.

    • The rate of Employers’ National Insurance will increase by 1.2 percentage points, to 15%. The Secondary Threshold – the level at which employers start paying national insurance on each employee’s salary – will reduce from £9,100 per year to £5,000 per year.
    • The smallest businesses will be protected as the Employment Allowance will increase to £10,500 from £5,000, allowing Scottish firms to employ four National Living Wage workers full time without paying employer national insurance on their wages.
    • Capital Gains Tax will increase from 10% to 18% for those paying the lower rate, and 20% to 24% for those paying the higher rate.
    • To encourage entrepreneurs to invest in their businesses Business Asset Disposal Relief (BADR) will remain at 10% this year, before rising to 14% on 6 April 2025 and 18% from 6 April 2026-27.
    • The lifetime limit of BADR will be maintained at £1 million. The lifetime limit of Investors’ Relief will be reduced from £10 million to £1 million.
    • The OBR say changes to CGT raise over £2.5 billion a year and the UK will continue to have the lowest CGT rate of any European G7 country.
    • Inheritance Tax thresholds will be fixed at their current levels for a further two years until April 2030. More than 90% of estates each year will be outside of its scope. From April 2027 inherited pensions will be subject to Inheritance Tax. This removes a distortion which has led to pensions being used as a tax planning vehicle to transfer wealth rather than their original purpose to fund retirement.
    • From April 2026, agricultural property relief and business property relief will be reformed. The highest rate of relief will continue at 100% for the first £1 million of combined business and agricultural assets, fully protecting the majority of businesses and farms. It will reduce to 50% after the first £1 million. Reforms will affect the wealthiest 2,000 estates each year. Inheritance Tax reforms in total are predicted by the OBR to raise £2 billion to support stability.

    • From 2026-27 Air Passenger Duty (APD) for short and long-haul flights will increase by 13% to the nearest pound, a partial adjustment to account for previous high inflation. For economy passengers, this means a maximum £2 extra per short haul flight and tickets for children under the age of 16 remain exempt from APD. APD for larger private jets will be increased by a further 50%. Passengers carried on flights leaving from airports in the Scottish Highlands and Islands region are exempt from APD.
    • The rate of the Energy Profits Levy will increase to 38% from 1 November 2024 and the levy will now expire one year later than planned, on 31 March 2030.  The 29% investment allowance will be removed.
    • To provide long-term certainty and to support a stable energy transition, the UK Government will make no additional changes to tax relief available within the EPL and a consultation will be published in early 2025 on a successor regime that can respond to price shocks. Money raised from changes to the EPL will support the transition to clean energy, enhance energy security and provide sustainable jobs for the future.

    The Budget also announced a package of measures that disincentivise activities that cause ill health, by:

    •  Renewing the tobacco duty escalator which increases all tobacco duty rates by RPI+2% plus an above escalator increase to hand rolling tobacco (totalling RPI+12%).  
    • Introducing a new vaping duty at a flat rate of 22p/ml from October 2026, accompanied by a further one-off increase in tobacco duty to maintain financial incentive to choose vaping over smoking. 
    • To help tackle obesity and other harms caused by high sugar intake, the Soft Drinks Industry Levy will increase to account for inflation since it was last updated in 2018, and the duty will rise in line with inflation every year going forward.
    • The UK Government will also uprate alcohol duty in line with RPI on 1 February 2025, except for most drinks in pubs.

    The UK Government has set out the next steps to deliver its tax manifesto commitments in the July Statement. Having consulted on the final policy details where appropriate, this Budget delivers the UK Government’s manifesto commitments to raise revenue to pay for First Steps, with reforms that are underpinned by fairness, and tackle tax avoidance by:  

    • A new residence-based regime will replace the current non-dom regime from April 2025 and will be designed to attract investment and talent to the UK.
    • Offshore trusts will no longer be able to be used to shelter assets from Inheritance Tax, and there will be transitional arrangement in place for people who have made plans based on current rules.
    • The planned 50% reduction for foreign income in the first year of the new regime will be removed.
    • Reforms to the non-dom regime will raise a total of £12.7 billion according to the OBR.
    • The tax treatment of carried interest will be reformed by first increasing the Capital Gains Tax rates on carried interest to 32% and then, from April 2026, moving to a revised regime – with bespoke rules to reflect the characteristics of the reward.

    The Chancellor also doubled down on fiscal responsibility through two new fiscal rules that put the public finances on a sustainable path and prioritise investment to support long-term growth, and new principles of stability. Spending Reviews will be held every two years, setting plans for at least three years to ensure public services are always planned and improve value for money.

    One major fiscal event per year will give families and businesses stability and certainty on tax and spending changes, while giving the Scottish Government greater clarity for in its own budget-setting.  A Fiscal Lock will also ensure no future government can sideline the OBR again.

    Updates to this page

    Published 30 October 2024

    MIL OSI United Kingdom

  • MIL-OSI USA: Governor Lamont Announces Connecticut Awarded $9 Million to Close the Digital Divide

    Source: US State of Connecticut

    (HARTFORD, CT) – Governor Ned Lamont today announced that the Commission for Educational Technology, an office within the Connecticut Department of Administrative Services (DAS), is being awarded more than $9 million in federal funding to launch key initiatives outlined in the state’s digital equity plan, “Connecticut: Everyone Connected.” The funding comes from the U.S. Department of Commerce’s National Telecommunications and Information Administration (NTIA) through its Digital Equity Program, which is part of the White House’s Internet for All initiative authorized through the 2021 Bipartisan Infrastructure Law.

    Connecticut’s digital equity plan was produced following more than a year of outreach and research to identify the barriers preventing residents from getting online, equipped with a device, and supported with the training and technical assistance they need to thrive in today’s digital world. The plan aims to close the digital divide, particularly among the most disenfranchised groups in the state, including residents at or below 150% of the poverty line, racial and ethnic minorities, the aging, those incarcerated in or in transition out of state correctional facilities, individuals with disabilities or language barriers, those living in rural areas, and veterans.

    The first wave of initiatives funded through the federal Digital Equity Program will support critical projects, including through:

    • “Digital navigation” pilots: Local partners will receive support to work directly with residents to address skill gaps and lack of access to Internet connections and computers.
    • Digital equity collaboratives: Covering the entire state, six new collaboratives will provide the resources and professional network for educators, policymakers, and community organizations to learn and share best practices that scale and improve efforts to connect and train residents.
    • Digital equity curriculum: Through the collaboratives, the state will release a set of common assessments and teaching resources freely available to adult education and other local training programs to help meet residents where they are to close the digital skills gap in Connecticut.
    • Asset map: Residents will be able to conduct online searches and call a telephone hotline to find and use the community-based programs and resources to help them get online and develop the technical skills necessary to thrive in the digital world.

    “This award comes at a perfect time to further the important steps Connecticut has already taken to close the digital divide,” Governor Lamont said. “We are grateful for this investment to help ensure that all residents have the connections, computers, skills, and support to thrive in today’s digital world.”

    “We are leading efforts to ensure a ‘digital-first’ approach to delivering state services,” DAS Commissioner Michelle Gilman said. “This initial round of funding will help our neighbors take advantage of programs and benefits across dozens of state agencies.”

    “For the first time, every state in the nation has a digital equity plan in place to promote widespread adoption of high-speed Internet services,” Assistant Secretary of Commerce for Communications and Information and NTIA Administrator Alan Davidson said. “Connecticut now can request access to the funds to put its digital equity plan into action. The Biden-Harris administration’s Internet for All initiative will ensure everyone can thrive online through access to devices and digital skills.”

    “We are thrilled with this announcement, welcoming this ‘down payment’ on longer-term investments to fast-track the training and support programs that our residents need,” Connecticut Chief Information Officers and DAS Deputy Commissioner Mark Raymond said.

    “These funds will help implement the state’s digital equity plan,” Doug Casey, executive director of the Commission for Educational Technology, said. “We look forward to working with our agency and community partners to scale up training and establish regional centers of excellence in digital inclusion.”

    “We are so excited to make our plan a reality, a real investment in our residents,” Lauren Thompson, digital equity program manager for the Commission for Educational Technology, said. “The tools and programs we have planned will soon make it possible for residents everywhere to find the support they need. Our work will open opportunities for everyone in Connecticut.”

     

    MIL OSI USA News

  • MIL-OSI Global: Three judges announced for The Conversation Prize for writers

    Source: The Conversation – UK – By Jo Adetunji, Executive Editor – Partnerships

    L-R: Miriam Frankel, Priya Atwal, Alice Hunt. CC BY

    The Conversation UK, Curtis Brown and Faber are pleased to announce our three judges for The Conversation Prize for writers: Miriam Frankel, senior science editor at The Conversation UK, Priya Atwal, historian, broadcaster and community history fellow at the University of Oxford, and Alice Hunt, professor of early modern literature and history at the University of Southampton.

    Our competition is looking for the best longform article and nonfiction book idea aimed at a general audience from our community of academics. For your chance to win £1,000, publication on The Conversation Insights and mentorship from a literary agent and book publisher then enter your 2,000-word story and book idea.

    About our judges

    Miriam Frankel.

    Miriam Frankel is senior science editor at The Conversation UK. She is co-author of Are You Thinking Clearly? 29 Reasons You Aren’t and What To Do About It, a book investigating the many factors that influence and manipulate the way we think, from genetics, biology, bias and personality to time perception, culture, language, advertising and technology. Miriam also writes on a freelance basis for a number of publications including New Scientist, The Observer, BBC Future and BBC Science Focus magazine.

    Priya Atwal is a historian of monarchy, empire and cultural politics in Britain and South Asia. Her first book, Royals and Rebels: The Rise and Fall of the Sikh Empire, was published in 2020 and was one of BBC History Magazine’s Best Books of the Year. Priya is an active champion for public history and community empowerment in historical research. She is currently building a new Community History Hub at the University of Oxford, and regularly consults on a wide range of creative historical projects, from working on Netflix’s Bridgerton, to supporting the development of inclusive history curricula for UK state schools.

    Alice Hunt.

    Alice Hunt is professor of early modern literature and history at the University of Southampton. She was awarded a Leverhulme Trust fellowship to research her first trade book, Republic: Britain’s Revolutionary Decade, 1649-1660, which was published by Faber in 2024. Alice is also the author of The Drama of Coronation and has previously written about the Tudors and James I.

    How to Enter

    Submissions are open to academics employed or affiliated to a university or approved research institution (IRO) in the UK, Europe or Commonwealth, including PhD candidates under supervision by an academic. Submissions should be in the following areas: History, Arts + Culture, Business + Economy, Education, Environment, Health, Politics + Society, Science + Technology or World.

    To enter, please email your 2,000-word article, plus the following information, to uk-prize@theconversation.com:

    Name

    Institution

    Country

    Email

    Telephone no.

    Your book idea [max 350 words]
    Please provide a brief summary of a trade nonfiction book idea based on your article. Tell us why this topic deserves a deeper dive and why it would appeal to an audience of non-academic readers.


    About you [max 100 words]
    Tell us a little about you – your current academic role or affiliation, your area of expertise and any relevant research to your book idea. Why would you be the right author for this book?


    Please disclose any conflicts of interest that should be mentioned in relation to your article or book idea.


    Terms & Conditions [Pdf] – please read carefully.

    You can read more about what we’re looking for here [Pdf].

    ref. Three judges announced for The Conversation Prize for writers – https://theconversation.com/three-judges-announced-for-the-conversation-prize-for-writers-242505

    MIL OSI – Global Reports

  • MIL-OSI USA: NASA Technologies Named Among TIME Inventions of 2024

    Source: NASA

    As NASA continues to innovate for the benefit of humanity, agency inventions that use new structures to harness sunlight for space travel, enable communications with spacecraft at record-breaking distances, and determine the habitability of a moon of Jupiter, were named Wednesday among TIME’s Inventions of 2024.
    “The NASA workforce — wizards, as I call them — have been at the forefront of invention and technology for more than 65 years,” said NASA Administrator Bill Nelson. “From developing Europa Clipper, the largest satellite for a planetary mission that NASA has ever launched, to the Advanced Composite Solar Sail System, and communicating with lasers from deep space, NASA is improving our understanding of life on Earth — and the cosmos — for the benefit of all.”
    Solar Sailing with Composite Booms

    NASA’s Advanced Composite Solar Sail System is testing technologies that could allow spacecraft to “sail on sunlight,” using the Sun’s rays for propulsion. Like a sailboat turning to catch the wind, a solar sail adjusts its trajectory by angling its sail supported by booms deployed from the spacecraft. This demonstration uses a composite boom technology that is stiffer, lighter, and more stable in challenging thermal environments than previous designs. After launching on April 23, aboard Rocket Lab’s Electron rocket, the mission team met its primary objective by deploying the boom and sail system in space in August. Next, they will work to prove performance by using the sail to maneuver in orbit.  
    Results from this mission could provide an alternative to chemical and electric propulsion systems and inform the design of future larger-scale missions that require unique vantage points, such as space weather early warning satellites.
    Communicating with Lasers from Deep Space

    Since launching aboard NASA’s Psyche spacecraft on Oct. 13, 2023, a Deep Space Optical Communications technology demonstration has delivered record-breaking downlink data rates to ground stations as the Psyche spacecraft travels through deep space. To demonstrate the high data rates that are possible with laser communications, photos, telemetry data from the spacecraft, and ultra-high-definition video, including a streamed video of Taters the cat chasing a laser pointer, have been downlinked over hundreds of millions of miles. The mission, which is managed by NASA’s Jet Propulsion Laboratory in Southern California, has also sent and received optical communications out to Mars’ farthest distance from Earth, fulfilling one of the project’s primary goals.
    Searching for Life’s Ingredients at Jupiter’s Icy Moon Europa

    The largest NASA spacecraft ever built for a mission headed to another planet, Europa Clipper also is the agency’s first mission dedicated to studying an ocean world beyond Earth. Using a suite of nine science instruments and a gravity experiment, the mission seeks to determine whether Jupiter’s moon, Europa, has conditions that could support life. There’s strong evidence that under Europa’s ice lies an enormous, salty ocean. Scientists also have found evidence that Europa may host organic compounds and energy sources under its surface. Managed by NASA’s Jet Propulsion Laboratory, the spacecraft launched on Oct. 14, and will begin orbiting Jupiter in 2030, flying by the icy moon 49 times to learn more about it.
    Europa Clipper’s main science objectives are to determine the thickness of the moon’s icy shell and its interactions with the ocean below, to investigate its composition, and to characterize its geology. The detailed exploration will help scientists better understand the astrobiological potential for habitable worlds beyond our planet.
    NASA’s Ames Research Center in California’s Silicon Valley manages the Advanced Composite Solar Sail System, and NASA’s Langley Research Center in Hampton, Virginia, designed and built the deployable composite booms and solar sail system. Within NASA’s Space Technology Mission Directorate (STMD), the Small Spacecraft Technology program funds and manages the mission and the Game Changing Development program developed the deployable composite boom technology.
    The Deep Space Optical Communications experiment is funded by STMD’s Technology Demonstration Missions Program managed at NASA’s Marshall Space Flight Center in Huntsville, Alabama, and the agency’s Space Communications and Navigation program within the Space Operations Mission Directorate. Some of the technology was developed through NASA’s Small Business Innovation Research program.
    Managed by Caltech in Pasadena, California, NASA’s Jet Propulsion Laboratory leads the development of the Europa Clipper mission in partnership with Johns Hopkins Applied Physics Laboratory in Laurel, Maryland for NASA’s Science Mission Directorate. The Applied Physics Laboratory designed the main spacecraft body in collaboration with the Jet Propulsion Laboratory as well as NASA’s Goddard Space Flight Center in Greenbelt, Maryland, NASA Marshall, and NASA Langley.
    For more information about the agency’s missions, visit:

    Home Page

    MIL OSI USA News

  • MIL-OSI USA: Have Questions? Answers May Be Available at FEMA Disaster Recovery Centers

    Source: US Federal Emergency Management Agency

    Headline: Have Questions? Answers May Be Available at FEMA Disaster Recovery Centers

    Have Questions? Answers May Be Available at FEMA Disaster Recovery Centers

    BATON ROUGE, La. – FEMA remains in Louisiana to assist survivors recovering from Hurricane Francine. Three Disaster Recovery Centers (DRCs) are open to support survivors from Ascension, Assumption, Lafourche, Jefferson, St. Charles, St. James, St. John the Baptist, St. Mary and Terrebonne parishes. FEMA employees are on-hand to answer questions and assist with applications. Representatives of the U.S. Small Business Administration, the State of Louisiana and nonprofit and nongovernmental partners are also available to assist survivors as they navigate their recovery. The centers are accessible to people with disabilities or access and functional needs and are equipped with assistive technology. If you need a reasonable accommodation or sign language interpreter, please call 833-285-7448 (press 2 for Spanish).DRCs are open at the following locations: St. Mary ParishMorgan City Municipal Auditorium728 Myrtle St.Morgan City, LA 70380Terrebonne ParishTerrebonne Parish Library151 Library DriveHouma, LA 70360These centers operate from 8 a.m. to 5 p.m., Monday through Saturday. No appointment is necessary. Lafourche ParishLafourche Parish Emergency Operations Center4876 Hwy. 1Raceland, LA 70394This center will close Nov. 1. It is open 8 a.m. to 5 p.m., Monday through Friday.The centers have assistive technology equipment that allows disaster survivors to interact with staff.Video Remote Interpreting is available and in-person sign language is available by request.Real-time captioning as well as information in Braille, large-print, audio and electronic versions are available.The centers also have accessible parking, ramps and restrooms.Specialists at the centers can also direct you to operators who can communicate in languages other than English and printed material in multiple languages.Specialists can help you update your FEMA applications and learn about state and community programs and other available assistance. They can clarify information you have received from FEMA or other agencies; they can explain the rental assistance available to homeowners and renters; and they can fax your requested documents to a FEMA processing center and scan or copy new information or documents needed for case files.You do not have to visit a center to apply for FEMA disaster assistance. The quickest way to apply is by going online at disasterassistance.gov/.Additional options when applying include:Download the FEMA App for mobile devices. Call the FEMA helpline at 800-621-3362 between 6 a.m. and 11 p.m. Help is available in most languages. If you use a relay service, such as video relay (VRS), captioned telephone or other service, give FEMA your number for that service.To view an accessible video about how to apply visit: Three Ways to Register for FEMA Disaster Assistance – YouTube.For the latest information visit fema.gov/disaster/4817. Follow FEMA Region 6 social media at X.com/FEMARegion6 or on Facebook at facebook.com/femaregion6.
    alexa.brown
    Wed, 10/30/2024 – 15:43

    MIL OSI USA News

  • MIL-OSI USA: Ahead of 2024 U.S. Presidential Election, Senator Markey Urges Meta to Enable Independent Academic Research on its Impact on Election

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Letter Text (PDF)
    Washington (October 29, 2024) – Senator Edward J. Markey (D-Mass.), a member of the Senate Commerce, Science, and Transportation Committee, today sent a letter to Mark Zuckerberg, Chairman and CEO of Meta, on the company’s failure to launch an academic research initiative on its platforms’ impact on the 2024 presidential election. In 2020, two of Meta’s platforms, Facebook and Instagram, launched a partnership with 17 researchers to investigate social media’s impact on the 2020 presidential election. Although that research is ongoing, it has already produced high-quality and informative studies on Facebook and Instagram’s political impact. Meta is not undertaking a similar initiative this election cycle.
    Senator Markey wrote, “Meta’s decision to enable independent researchers to study Facebook and Instagram’s impact on the 2020 election provided a critical window into the platforms’ impact on U.S. politics and the 2020 election. Thanks to this partnership, over the past few years, researchers have released important studies on Facebook and Instagram’s effect on political polarization, news knowledge, and turnout, among other measures, and the impact of different changes to Facebook and Instagram’s user experiences, such as switching certain users to a chronological feed of content, rather than an algorithmically determined feed.”
    Senator Markey continued, “Four years later, although we have learned much more about social media’s impact, many questions remain unanswered, and Meta appears to have pulled back on answering them. With the presidential election just a week away, it may be too late to conduct the exact same type of research as was done under the 2020 initiative, but Meta still has significant data that can shed light on its impact on this election. Going forward, I urge Meta to once again lead the industry in transparency and ensure independent researchers have the access necessary to develop a better picture of social media’s impact on our elections, institutions, and democracy.”
    The full text of the letter can be found HERE.
    In July 2024, Senator Markey, along with Senator Chris Coons (D-Del.), Senator Bill Cassidy (R-La.), and their colleagues, sent a bipartisan and bicameral letter to Meta raising concerns about Meta’s decision to end access to CrowdTangle, a Meta-owned transparency tool that has allowed researchers and journalists to view and study public content on Facebook, Instagram, and other platforms on a wide range of issues, including foreign influence campaigns, terrorist threats, and mental health. 

    MIL OSI USA News

  • MIL-OSI USA: Markey, Wyden, Merkley, Kaine, Van Hollen and Booker Warn U.N. Cyber Convention Could Justify Spying and Censorship By China, Russia and Other Authoritarian Regimes

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    U.N. Convention Against Cybercrime Lacks Safeguards Against Abuse; Senators Urge Admin To Seek Better Balance To Protect Journalism and Human Rights
    Washington, D.C. – Senator Edward J. Markey (D-Mass.) joined Senators Ron Wyden (D-Ore.), Jeff Merkley (D-Ore.), Tim Kaine (D-Va.), Chris Van Hollen (D-Md.), and Cory Booker (D-N.J.) in urging the Biden Administration to make clear a United Nations cyber convention should not be used to justify censorship, spying and human rights abuses by authoritarian governments like Russia and China, in a letter sent to Secretary of State Antony Blinken, Attorney General Merrick Garland, Commerce Secretary Gina Raimondo and National Security Advisor Jake Sullivan.
    “We fear the Convention will legitimize efforts by authoritarian countries like Russia and China to censor and surveil internet users, furthering repression and human rights abuses around the world,” the Senators wrote. “While the Executive Branch’s efforts to steer this treaty in a less-harmful direction are commendable, more must be done to keep the Convention from being used to justify such actions.”
    The U.N. Convention Against Cybercrime was originally proposed by Russia in 2017 as an alternative to an existing treaty on cybercrime. The U.N. convention is expected to come up for a vote in the U.N. General Assembly as soon as December. 
    A broad array of advocates for journalism, human rights and national security have warned that the convention could be abused by authoritarian regimes to repress political dissent and censor independent reporting, and have urged changes to the measure.  
    The senators thanked the Biden Administration for seeking changes to improve the convention, but warned that the final document does not go far enough to protect journalists, cybersecurity researchers and human rights advocates against surveillance and censorship by authoritarian regimes. 
    “As the UNGA considers the Convention, the United States must not align itself with repressive regimes by supporting a Convention that undermines human rights and U.S. interests,” the lawmakers wrote. “Instead, the United States should lead the charge at the U.N., with allies and partners, for a more balanced and rights-respecting approach to cybercrime. Upholding the values of freedom and human rights is essential not only for U.S. global standing but also for the protection of vulnerable communities worldwide.”
    Read the full letter to the administration HERE.

    MIL OSI USA News

  • MIL-OSI USA: Assistant Secretary of Defense for Industrial Base Policy Dr. Laura D. Taylor-Kale and Deputy Assistant Secretary of Defense for Industrial Base Resilience Carla N. Zeppieri, Hold an Off-Camera, On-The-Record Press Briefing on the National Defense Industrial Strategy Implementation Plan

    Source: United States Department of Defense

    MAJ SELENA RODTS:  Good morning. Good morning, everyone. Thanks for coming out and welcome. We appreciate you taking your time to come out today and for those of you out in Zoom land, for dialing in. My name is Major Selena Rodts and I work here at OSD Defense Press Operations. Today is an important day for the department as we’re here to announce the release of the National Defense Industrial Strategy Implementation Plan.

    Our briefers here, seated to my left, and on the far left, Assistant Secretary of Defense for Industrial Based Policy, Dr. Laura Taylor-Kale and then to her right, we have Deputy Assistant Secretary of Defense for Industrial Base Resilience, Carla Zeppieri. The leaders briefing this morning have been deeply engaged in leading the NDIS efforts leading up to today.

    And so before we open it up to your questions, I’d like to hand things over to our briefers for some opening comments.

    DR. LAURA TAYLOR-KALE:  Great, thank you. Good morning. I am proud to announce the release today of the Implementation Plan for the National Defense Industrial Strategy. It outlines metric driven initiatives that will guide the Department’s focus program development and investment in the industrial base for the next fiscal year.

    Developing this implementation plan has been a priority since before we released the National Defense Industrial Strategy earlier this year. Today’s geopolitical undercurrents have impacted every part of the Defense Industrial Base. We have seen how quickly we need to ramp up capacity in response to conflict.

    World events have forced us to prepare for the long-term and plan differently and we have experienced technological advancements that require a fundamental shift in our thinking. As we develop the implementation plan, we focus on the most pressing requirements for the industrial base. We are making historic investments in key sectors to bolster our supply chains.

    Professionals and students alike are leveraging workforce readiness initiatives set to tackle labor shortages. We have sharpened our understanding of the opportunities and risks so we can be better partners with commercial and nontraditional defense companies. We are embracing flexible acquisition pathways and innovative contracting tools, and we are working towards multilateral frameworks where allies and partners can collaborate at every stage of defense planning.

    Our mission is ongoing and does not begin with today’s release of the implementation plan. DOD’s deliberate capital investments have spurred mutually supporting actions from industry, academia and other parts of government, many of which we highlight in the implementation plan. The impact of critically important funding channels like the Defense Production Act and the Industrial Base Analysis and Sustainment Program have gone beyond just the initial investments.

    They have served as a catalyst for add on programs, expansion of scope and new partnerships. We are seeing a ripple effect that demonstrates how tens of millions of dollars in today’s industrial base investments become hundreds of millions or even billions in resiliency and sustainment. Integrated deterrence, economic security, national security and our nation’s military strength are mutually reinforcing.

    The Defense Industrial Base serves a larger purpose than any single action or investment dollar. Progress and acceleration happens in months and years. The Implementation Plan for the National Defense Industrial Strategy is a roadmap for integrating our priorities under leadership driven initiatives. Each implementation initiative assigns primary responsibility, estimated resources, key metrics and risks.

    The six implementation initiatives include specific desired outcomes and provide the potential risks associated with inaction. A key focus of implementation is championing initiatives that are cross-cutting and not the sole responsibility of any one military service or component within the Department of Defense.

    DOD cannot address every industrial base issue alone and like the strategy, the implementation plan has benefited by input from a wide range of stakeholders who remain committed to building a modern and resilient defense industrial ecosystem. The evolution from strategy to implementation required lengthy discussions with key players and we were very intentional in ensuring we remain deeply connected, seeking inputs from the military services, from industry, from international stakeholders and allies and from the interagency.

    This unified collaboration among our partners is a first for defense industrial policy. To develop implementation initiatives, we ask the right questions. We challenged institutional barriers. We solicited many perspectives and insights and repeatedly, we weighed risks and develop mitigation strategies.

    I am grateful for all the feedback we received from our partners and for the overall shared commitment to increase the readiness and resilience of the Defense Industrial Base. The next phase of the implementation plan is the fore coming classified annex that will detail metrics and risks. I will now turn over to DASD Zeppieri for any comments before we welcome your questions. Thank you.

    MS. CARLA ZEPPIERI:  Thank you, ma’am, and good morning to everyone. This first instantiation of the NDIS implementation plan is the result of close collaboration across the department, the interagency, defense industry, including both traditional and nontraditional companies and our international partners. The implementation plan outlines six cross-cutting initiatives to drive progress, mitigate risks and create a framework for directing investments, resources and cross-functional collaboration.

    It’s important to note that these six implementation initiatives do not cover every single action the Department will take to build defense industrial base resiliency. Rather, these initiatives represent the most urgent tasks that will deliver tangible results, reducing defense, industrial base vulnerabilities and positioning us to counter future threats.

    I’d like to summarize briefly the six implementation initiatives. First, building a defense industrial base framework to enhance integrated deterrence in the Indo-Pacific region. The NDIS builds on the foundation of the National Defense Strategy, orienting efforts on creating industrial capability and capacity to meet the pacing threat.

    This initiative will focus on missiles and munitions production and the submarine industrial base, which are two of the top requirements in the Indo-Pacific theater. Second, managing defense production and supply chains. Under this initiative, we’ll concentrate on onshoring defense critical capabilities and moving away from adversarial sources of supply.

    We’ll also conduct a deeper analysis of supply chain vulnerabilities, enhance industrial cybersecurity and reinvigorate critical materials stockpiling. The third initiative, allied and partner industrial collaboration. This initiative further develops allied cooperation, emphasizing the AUKUS trilateral partnership and expanded interest in weapons systems co-production.

    We will leverage our respective strengths into a network of allied DIB capability for mutual effectiveness and resilience. Fourth, capabilities and infrastructure modernization. Fostering a 21st century Defense Industrial Base requires investment in infrastructure and fundamental industrial capability to meet strategic and key operational requirements. Modernizing the nuclear industrial base, the organic industrial base and our maintenance, repair and overhaul capacity will lay the groundwork for generating the systems that we need.

    Fifth, utilizing more flexible pathways to field new capability in a timely fashion. The department has already crafted multiple acquisition pathways for tailorable processes and rapid prototyping and fielding. We will continue to push adaptable acquisition to deliver cutting edge technologies to the warfighter. And then finally, strengthening intellectual property and data analysis. This last initiative focuses on ensuring effective use of resources throughout a program life cycle by fully integrating intellectual property planning into acquisition and product support strategies.

    Each initiative supports NDIS priorities to meet current demands and address future challenges and much of this work, as the assistant secretary said, is already underway. Industrial Base Policy worked with our DOD colleagues to ensure key projects supporting these six initiatives were incorporated as appropriate in this unclassified document.

    As noted, our next steps focus on issuing a classified annex to the plan, outlining the remaining efforts aligned to these organizing initiatives. The DOD acknowledges it cannot execute the implementation plan on our own. Success is going to require commitment, collaboration and cooperation between the entire US government, private industry and our international allies and stakeholders.

    Thank you very much for your time today and for your interest in today’s announcement. I will now turn it back over to Major Rodts, who will begin taking questions.

    MAJ RODTS:  Wonderful. Thank you, ladies. All right. So normal rules apply today. Please keep it to one question and one follow up. We’re going to go ahead and start out with someone out in Zoom land and then we’ll bring it back into the room here. So John, can you hear me out there, Defense Scoop?

    Q:  Yeah, thank you. I noticed in the section about replicator, it says, to complement the replicator initiative, the department intends to commission various projects, studies and white paper reviews to identify vendors who can accelerate solid rocket motor production. Can you explain or flesh out how that effort will complement replicator or be related to that?

    And then on a related note, it says that if DPA title three does not receive the funding required to support the Defense Industrial Base Consortium, that efforts to strengthen the solid rocket motor industrial base could face significant challenges and potentially not be executed. Is that suggesting that if that money doesn’t come through, it could slow down the replicator initiative? I was hoping you could just maybe clarify that.

    MS. CARLA ZEPPIERI:  You OK with me starting?

    DR. LAURA TAYLOR-KALE:  Sure, go ahead.

    MS. CARLA ZEPPIERI:  Sure. Great question. There is already ongoing work within the department on addressing what had been previously identified five key areas of industrial capability, where we need to put forward significant effort and kinetic capabilities have been one of those focus areas.

    So with regard to solid rocket motors, there is going to be a complementary effort, but separate from, if you will, to the replicator effort, which I think people are aware by now, is a specific endeavor that is going to produce affordable and in these initial instances, attritable systems, right, to execute our strategy specifically in the Indo-Pacific.

    But there are going to be a need for complementary technologies that are going to enable some of these efforts. So that is the point of talking about SRM and associated kinetic capabilities. With regard to the question about funding, I think that is a highlight or one of the points that we wanted to highlight through the implementation, which is of course that we have laid out through this plan where we expect resources to come from.

    In some cases, they’re coming from within already funded programs. In some cases looking forward, they will need to be topics of future budget requests. But with regard to DPA, there is an active appropriations bill right now in Congress that we are working with the appropriators for a successful final outcome that is going to fund all of those priority projects that are in the pipeline to be addressed.

    I don’t know, ma’am, if you have anything else.

    DR. LAURA TAYLOR-KALE:  No, I was just going to add that I think part of part of the question was whether or not if DPA or the DIB COT didn’t receive funding, if that would jeopardize the replicator initiative and I don’t believe that would happen.

    Q:  Right.

    MAJ RODTS:  Ma’am?

    Q:  Thank you. Good morning. Sandra Erwin, Space News. Ms. Zeppieri, you mentioned that supply chain is one of the priorities in this strategy. There are instances across the industrial base, and I’m more familiar in the space industry more so, where you have prime contractors that rely on maybe a single subcontractor for very critical components.

    And these are not components that you can just go and buy at GSA. These are very specialized items that have to be qualified, have to be tested and whatnot. So can you maybe talk about that challenge and perhaps how this implementation plan might address some of these concerns that are happening right now in the supply chain?

    MS. CARLA ZEPPIERI:  Sure. Obviously addressing the supply chains for key enabling current and future technologies is going to be incredibly important. And you hit on an important point in that we have been looking at supply chain vulnerabilities where we have single sources or fragile sources where we need to shore up the industrial base.

    But likewise, the implementation will involve looking at those key critical nodes to enable those future capabilities. And I think that some of that is outlined in the unclassified plan. And I believe that there will be additional details in the classified annex, because of course, there were some efforts that could not be addressed here in the unclassified form.

    Q:  I mean, did you get data from across the industry? I mean, did you hear that problem a lot from prime contractors?

    DR. LAURA TAYLOR-KALE:  We hear that problem across the Defense Industrial Base in general. We also have developed a number of programs within our office that address single sources of vulnerabilities in the supply chain. DPA title three IBUs have all worked to address some of these challenges. Just in this past fiscal year FY ’24, we obligated $1.7 billion almost $1.8 billion towards a lot of supply chain vulnerability and kinetic capabilities issues.

    So yes, we hear it not just in space, it’s across the board and we’re very much aware and are doing analysis on that as well as using our investment tools to be able to address them.

    Q:  Thank you.

    MAJ RODTS:  Thanks. Noah?

    Q:  Hi. Noah, Defense News, here. Thank you both for doing this. I wondered if you could give me a better sense, and this is a question for the both of you, on what sort of legislative support that you need? What should be forthcoming from Congress that would enable this to be successful? And then secondly, when the timeline for the classified annex to be provided to those stakeholders actually is?

    DR. LAURA TAYLOR-KALE:  Sure. I’ll tackle both and then turn it over to DASD Zeppieri to talk a bit more about the legislative support. But in general, we view Congress as a very important key stakeholder. As we noted in the implementation plan of Congress provides for the overall direction and policies that support all the work that we’re doing in defense industrial resilience. Going forward, obviously, we’ve talked quite a bit about having on time budgets as well as multiyear procurement.

    I will also note that this year in FY 2025, the Defense Production Act is up for reauthorization. It will be important for the Department to have that reauthorization done in a timely fashion and we are in active conversations with Congress on that. I’ll let Carla talk a little bit more about some of the other areas of legislative support, but I’ll just note for the classified annex, again, we are working very closely with the services and with other OSD components, to make sure that we have all the right details in there. We’re also putting out a more fleshed out risk mitigation framework in the classified annex. So we’re hoping to have this done over the next couple of months and preferably before the end of the year.

    MS. CARLA ZEPPIERI:  I think with regard to potential future legislative action that might need to be taken to make the implementation–to fortify the implementation plan. We have had some informal conversations with other parts of the department, as I think you’re aware specifically in the field of acquisition.

    And then when you start talking about intellectual property, that’s probably going to entail some further internal work and some work with external stakeholders, including Congress, because there might need to be made some legislative tweaks in that area. But I think Dr. Taylor-Kale hit on one of the most important, urgent ones for us, which is of course reauthorization of the Defense Production Act.

    Q:  If I may also, there’s an election next week, as everyone’s aware of, and this plan along with the classified annex are being released at a time of turnover regardless of who wins. Can you give me a sense of how this plan and the strategy itself will survive regardless of what happens on November 5th and ways to make that more durable given the uncertainty involved?

    DR. LAURA TAYLOR-KALE:  Oh, thank you. I’ll note that one of the, I think, important things to note about defense industrial policy is that it’s been a very much an area of bipartisan support. In working on both the strategy, developing the strategy and the implementation plan, we met with and worked with stakeholders across political perspectives, working with both chambers of Congress, with both sides of the aisle. And we are confident in the feedback that we’re getting that this will be a priority regardless of who wins next week in the elections, but that this is an important priority for the nation, for defense and for national security.

    MAJ RODTS:  All right. We’re going to go out to zoom and take a couple questions there and then we’ll bring it back into the room. Tony, Inside Defense.

    Q:  Yes, thank you very much. The report mentions that one of the ways industry could help the department, is it could invest its own resources including CapEx. I’m wondering if you could give us a scope, sort of scope that challenge for us as the department sees it now. Has industry begun leaning in or not yet?

    Could you just sort of give us a sense of what you’re seeing there in terms of industry investing its own money because it sees these signals the department’s sending or maybe not sending?

    DR. LAURA TAYLOR-KALE:  No, thank you. I love this question. One of the, I think, real delights since issuing the strategy in January has been feedback that we’ve gotten from industry. So first, our office has conducted a number of sessions with industry, with companies individually in a classified setting to get feedback from them.

    But also industry has reached out and companies reach out all the time and say, here’s an investment that we’re making that aligns with the National Defense Industrial Strategy. So what we did in the report was we include a couple of highlights throughout the report where industry has made investments that align with the NDIS and with implementing the NDIS. I think your question hits a very important point which is as we note that the Department of Defense can’t implement the strategy alone, that it will require resources and support from across a broad range of stakeholders within the government, with Congress, with our international allies and partners and most and very importantly, with industry as well.

    That also includes investors. Our office has worked to build better relationships with investor communities, particularly private equity and venture capital. We’ve conducted investor roundtables. We worked to build create a mechanism to share information as well. We launched the Defense Industrial Base Consortium OTA in January, as you know, which is also a mechanism for opening up and bringing more industry stakeholders and investors into working with the Department of Defense.

    But we do see industry leaning in and being responsive to the fact that the Department is actually prioritizing and also really communicating what our priorities are with respect to defense industrial capacity and resilience.

    MAJ RODTS:  All right. Valerie, Breaking Defense.

    Q:  Yeah, thank you so much for taking my question. I know that the implementation plan as laid out here, it only includes basically, the funding levels that were laid out in the FY ’25 POM. But I’m wondering if you could speak about how you guys see the funding profile over the next couple of years?

    Just, I mean, obviously, there’s going to be a new administration coming in, but you guys are building the budget right now. Should this funding profile for DIB investments, should it be ramping up? Do you guys expect that it’ll stay like roughly the same as it has been the past couple of years?

    And are there any particular items that you want to call out as being particularly important going into FY ’26?

    DR. LAURA TAYLOR-KALE:  We could spend the rest of the day, both of us talking about this topic, but we won’t. So first is to your point about the implementation plan and how we built it out. We use FY 2025 president’s budget request numbers and in part because we’re not going to issue numbers that are still in development or pre-decisional.

    But we wanted to make sure to provide a real picture of what the defense industrial base capacity building and resilience really looked like from the FY 2025 budget. The strategy, as we noted before, was in development during the FY ’24 and FY ’25 budget processes, but it didn’t fully materialize until after.

    So FY ’26 is the first one where we’ve actually as a whole department, really had an opportunity to think about and match our program and budget planning processes with the National Defense Industrial Strategy. I suspect that this year was sort of first time really taking that on. I think there was a definite understanding across the board of the importance of building capacity in the Defense Industrial Base and also bringing in nontraditional companies into working with the Department of Defense.

    There’s a real concern around supply chain vulnerabilities and DASD Zeppieri can talk about, again, adversarial sources in our supply chains as well as sole source and single source. But I think that going forward, the department will continue to use this document as sort of a baseline and also build on it. Our plan is to update the implementation plan every year and preferably, to publish the revised unclassified after the new president’s budget has been delivered to Congress and explain what’s in the president’s budget request and how it relates to defense industrial capacity, and what the priorities of the department are.

    MS. CARLA ZEPPIERI:  Sorry, let me add. Thank you, ma’am. Yeah, I guess I would just add really quickly. As the ASD said, excuse me, we’re seeing great support and enthusiasm from across the department. As part of the process that the entire Department is in right now in building and finalizing the FY ’26 budget, the services were asked to come brief through the Industrial Base Council on some of their priority DIB investments that they either already had in programing or of course were looking for some additional funding in FY ’26. So I think that the whole Industrial Base Council found that very positive.

    We received good feedback from everyone who participated in that, and I think it just underscored how the entire Department, the service’s, other components are thinking about this now. Also just to add a little, I think you were asking what should we expect to see and as the ASD said, of course we can’t talk about pre-decisional information, but I don’t think that it will come as a surprise that some of the topics that continue to get emphasized build on some of the things that we’ve seen in FY ’24 and ’25 with respect to munitions and the organic industrial base to support some of those efforts.

    MAJ RODTS:  Great. Sir, in the room?

    Q:  Thank you. Diego Laje, Signal Media. Thank you very much for taking my question. Earlier this year, there was a cybersecurity in the DIB document issued. I’d like to get an idea of how you see cybersecurity evolving since then and especially among the most vulnerable parts of the DIB going forward?

    DR. LAURA TAYLOR-KALE:  Thank you. I’ll refer you to the CIO for specifics on sort of how cybersecurity as a has evolved. But what I can say with respect to our work with the Defense Industrial Base, it remains a concern. And also, we are working with the CIO’s office, our team, the Office of Small Business Programs, to work on programs that will help small businesses in particular, which are particularly vulnerable, as they develop cybersecurity sort of capabilities within their firms. Want to add anything?

    MS. CARLA ZEPPIERI:  No, I don’t think so, ma’am, except that obviously as you indicated, sir, I mean the CIO you know has put out their strategy in building this implementation plan. We worked very closely to incorporate their ideas there, but I think that that will be an ongoing project. I mean, certainly information sharing between government and DIB is not a new endeavor, but you know ramping up and ensuring that some of those protections are spread throughout the DIB, right, and go beyond just kind of the prime contractors is an ongoing priority or a significant priority for the department.

    DR. LAURA TAYLOR-KALE:  And just to give you a reference point, we included, there’s a line of effort for industrial cybersecurity under production and supply chains, in the second implementation initiative.

    Q:  And how do you expect the future of cybersecurity to look like during after implementation?

    DR. LAURA TAYLOR-KALE:  After implementation? Implementation, I think, will be ongoing. The way we see this is this is an effort over multiple years. This instantiation of the implementation plan really just outlines what we are planning to do and what our priorities are for this first fiscal year for FY 2025. But yes, industrial, cyber security remains very much a focus of importance for production and for supply chains. Particularly as you noted, there are certain segments of the Defense Industrial Base, particularly smaller businesses that are particularly affected.

    So I think it will certainly be a focus. It’s a line of effort in 2025 and I can imagine that given the cyber security and strategy that it will remain so even past that.

    MAJ RODTS:  OK. We’re going to go back to Zoom real quick just because we have a fair amount of people who are on there. Lauren, Defense One, did you manage to dial on? No. Chris, Air and Space?

    Q:  Hi. Thank you, Chris Gordon, Air and Space Forces Magazine. This has been touched on a bit around the edges, but I wanted to ask this question directly. How much of this entire strategy can be implemented under a continuing resolution, if at all?

    DR. LAURA TAYLOR-KALE:  Continuing resolutions present a number of challenges for the Department. It’s best for us to have a full budget done on time for us to be able to implement. It creates a lot of challenges in procurement in general and also in planning for us when we have these continuing resolutions.

    So we’re hopeful that Congress will work together and pass a bill, a defense policy bill as well as a funding bill soon.

    MAJ RODTS:  OK. Jared, Federal News? Noah?

    Q:  Just a couple more here. The first is if you could give a more specific estimate or range of engagements with industry and also touch points with Congress, that would be helpful to pull out and then I have a follow up.

    DR. LAURA TAYLOR-KALE:  Sure. We’ve had over 60 engagements with industry since the beginning of the year. Many of them I’ve done myself. We bring companies in directly into our office. We talk with them about the strategy itself as well as work iteratively on the implementation plan to try to get feedback.

    We incorporate a lot of the feedback that we received as we developed the implementation plan and also went back and had further conversations. We also have numerous engagements with Congress. For Industrial Based Policy, our key committees are of course the Senate Armed Services and House Armed Services Committees.

    But also note that Senate Banking and House Financial Services committees are also very important. They’re the authorizers for the Defense Production Act, as well as have purview over a lot of the economic security, economic deterrents authorities that we have, including CFIUS. We also engage closely with the Senate Appropriations Committee, SACD, as well as the House Appropriations Committee.

    We also engage closely with the small business committees in both Houses as well. So there are a number of touch points that we have with Congress.

    Q:  The criticism, and I want to give you both a chance to respond to this, as I’m sure it will come up afterward, that I most often hear from people who have been engaged in the process, who have been able to have some of these discussions that are behind closed doors, is that the implementation plan now and the NDIS back earlier in the year are largely restatements of priorities that the Pentagon already had and has restated in past reports in previous years.

    If possible, could you give an outline of where you see this actually pushing things forward in a new way, and what in the document you actually would argue is new and sort of groundbreaking itself?

    DR. LAURA TAYLOR-KALE:  Sure. I think the fact that the Department of Defense has worked together across the department to talk about not just the challenges, but also the priorities across the department, developed at a senior leadership level, what are the cross-cutting areas that need to be driven by the secretary and the deputy secretary and the service secretaries, I think that’s actually very much new and innovative for the department.

    I think that the focus on trying to find something new, sort of new programs is something that everyone likes to see a nice shiny object. But the truth is the work of building capacity and resilience in the Defense Industrial Base is actually going to take a lot of time and resources across the board.

    So the fact that is as we were developing this strategy, these were initiatives and priorities that we knew we had to work towards over the last several years and that we had begun to. But I think getting everyone on board and sort of focused in a manner that really has leadership sort of invested across the Department as well, is important, and I think is a very important initiative for the Department to provide, not just for itself, but also for industry stakeholders and for our allies and partners and for Congress.

    MS. CARLA ZEPPIERI:  Do you mind if I?

    DR. LAURA TAYLOR-KALE:  Please.

    CARLA ZEPPIERI:  I mean, I would just add briefly that as the assistant secretary said, and you’re right, I hear you, that some of the issues that have been surfaced in various reports likewise showed up in our strategy, I think for good reason. But this is also the first time the Department has had an industrial base strategy and now an implementation plan to actually make this real.

    Not that prior efforts weren’t sincere but as Dr. Taylor-Kale just said, we now have the entire Department and I think a lot of momentum and buy-in to this process. The one other thing I would just also mention is that we also have in here a risk framework and there will be additional metrics.

    Now, of course, they will be detailed in the classified annex because there’s only so much that we can say in an unclass, but it’s not just a strategy. It’s going to be tracking, measuring ourselves where we are right now with regard to risk to the Defense Industrial Base. And then as the Department contributes on a regular basis, updates to the implementation, we will be measuring ourselves, measuring our progress and seeing where we have addressed risk and where we have more work to do. So I think that that’s different than previous efforts.

    MAJ RODTS:  OK. We’re going to go back to Jared. I think I was moving a little too quickly there. Jared.

    Q:  I appreciate it. I was trying to ask about the flexible acquisition pathways line of effort. You specifically call out MTA, OTA. The Department’s obviously been headed in that direction for a good six, seven years now. And I’m just wondering what changes under this plan, if anything really meaningfully changes?

    Is it a matter of more emphasis on those things and if so, how do you prioritize what sorts of capabilities fit into the strategy and need to move down those pathways?

    DR. LAURA TAYLOR-KALE:  Yeah. I think the Department has been moving in this direction for a while, but the truth is we don’t oftentimes use these flexible authorities. So I think the important thing to note here and that we emphasize within the implementation plan is using these flexible acquisition pathways when appropriate.

    And so really, what we’re measuring and tracking here is what we’re using and whether or not it matches and is appropriate for a particular project or contract vehicle. So I think that’s going to be important moving forward. It’s like, it’s important to have OTAs. They can be very useful.

    We started the Defense Industrial Base Consortium OTA that does research prototype as well as production. But at the end of the day, we’re all trying to make sure that the warfighter has the tools and capabilities it needs at speed and scale. We need things to move into production. So what’s the best way to do that for the particular capability that we’re looking at for the particular problem that we’re trying to solve for, I think will be important.

    And I think just having the flexible authorities out there, it’s useful, but what we’re trying to do is drive using those authorities to actually solve the problems that we’re facing.

    MAJ RODTS:  All right. With that, I don’t think we have any further questions. So, ma’am, if you would like to provide any closing comments?

    DR. LAURA TAYLOR-KALE:  Sure. Thank you. Well, first, I want to thank you all for being here today and for those who are dialed in on Zoom. We think this is a significant milestone for the Department of Defense. The publication of the strategy provided our vision and now with the release of the implementation plan for FY 2025, we are sharing our priorities and the structure which will drive cohesive efforts across all lanes related to the industrial base.

    We are also fostering transparency by providing industry and other partners insights into our plans and investments. Our approach has generated strong interest from industry and common goals have built closer ties between allied partners. We have greater support from internal and interagency stakeholders and Congress.

    We have surged our coordination efforts with the military services to calibrate and respond. The National Defense Industrial Strategy Implementation Plan will be a living document providing the rigor to ensure sustained and resilient impact in the defense industrial base and the flexibility to change and adapt as needed.

    In January, I sat here and stated we can no longer afford to wait, the time for action has come. I believe we have confronted that task and are moving ahead. Thank you again for your time today and for participating in this briefing.

    MAJ RODTS:  Thank you, ma’am. Thank you, everyone, for coming out today. If you have any follow up questions or you didn’t have your question answered, please reach out to me and I’ll be able to work that for you. Thank you, everyone.

    DR. LAURA TAYLOR-KALE:  Thanks.

    MIL OSI USA News

  • MIL-OSI: Premium Income Corporation Announces Overnight Offering of Preferred Shares

    Source: GlobeNewswire (MIL-OSI)

    Not for distribution to U.S. newswire services or for dissemination in the United States.

    TORONTO, Oct. 29, 2024 (GLOBE NEWSWIRE) — (TSX: PIC.PR.A) – Premium Income Corporation (the “Fund”) is pleased to announce that it is undertaking an overnight treasury offering of Preferred Shares (the “Offering”).

    The sales period for the overnight offering will end tomorrow, October 30, 2024. The offering is expected to close on or about November 6, 2024, and is subject to certain closing conditions including approval by the Toronto Stock Exchange (“TSX”). The Preferred Shares will be offered at a price of $15.00 per Preferred Share representing a yield on the original issue price of 8.50%. The trading price on the TSX for the Preferred Shares as at the last trade on October 29, 2024, was $15.16. Since the inception of the Fund, the aggregate dividends declared on the Preferred Shares have been $24.36 per share.

    The Fund invests in a portfolio consisting principally of common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada and The Toronto-Dominion Bank. To generate additional returns above the dividend income earned on the Fund’s portfolio, the Fund will selectively write covered call and put options in respect of some or all of the common shares in the Fund’s portfolio. The manager and investment manager of the Fund is Mulvihill Capital Management Inc.

    The Preferred Shares pay fixed cumulative preferential monthly cash distributions in the amount of $0.10625 ($1.275 per annum) per Preferred Share representing a yield of 8.50% on the original issue price of $15.00.

    The syndicate of agents for the offering is being co-led by National Bank Financial Inc., CIBC Capital Markets, RBC Capital Markets, and Scotiabank.

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

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


    A short form base shelf prospectus containing important detailed information about the securities being offered has been filed with securities commissions or similar authorities in each of the provinces of Canada. Copies of the short form base shelf prospectus may be obtained from a member of the syndicate. The Fund intends to file a supplement to the short form base shelf prospectus and investors should read the short form base shelf prospectus and the prospectus supplement before making an investment decision. There will not be any sale or any acceptance of an offer to buy the securities being offered until the prospectus supplement has been filed with the securities commissions or similar authorities in each of the provinces of Canada.

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

    The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.

    The MIL Network

  • MIL-OSI: AML GO Launches Its Anti-Money Laundering Online System at the Consumer Credit Conference

    Source: GlobeNewswire (MIL-OSI)

    JOHANNESBURG, South Africa, Oct. 29, 2024 (GLOBE NEWSWIRE) — UPAY Inc. (“UPAY” or the “Company”) (OTCQB: UPYY), through its South African subsidiary, AML GO (Pty) Ltd, is excited to announce the official launch of the AML GO Anti-Money Laundering (AML) online system. The launch will take place at the prestigious Consumer Credit Conference on 30 and 31 October 2024, hosted at the Indaba Hotel in Fourways, Johannesburg.

    AML GO’s cutting-edge online platform is designed to provide financial institutions, credit providers, and businesses with powerful tools for AML compliance in today’s dynamically digital world. With a focus on retail credit risk management and regulatory compliance, the system offers a robust solution for identifying, assessing, and mitigating the risks associated with money laundering and related financial crimes.

    Key Features of the AML GO System:

    • Advanced AML Screening: Real-time monitoring and screening against global databases to ensure compliance with the latest AML regulations.
    • Seamless Integration: Easy integration into existing financial workflows, providing automated and comprehensive compliance checks.
    • Customizable Alerts and Reports: Tailored reporting tools that enable financial institutions to track and report suspicious activity efficiently.
    • User-Friendly Interface: A simple yet effective dashboard, allowing users to manage compliance requirements with ease.

    About AML GO (Pty) Ltd:
    AML GO is your trusted partner for cutting-edge Anti-Money Laundering (AML) and credit risk solutions. Our streamlined Client Onboarding Platform offers seamless access to AML, Politically Exposed Persons (PEP), and sanctions screening, along with risk rating assessments, bank account verification, and bank statement verification. In addition, we provide comprehensive credit risk assessment, identity verification, affordability calculations, and proof of address confirmation. AML GO ensures that your organization stays compliant with the Financial Intelligence Centre Act (FICA) while optimizing operations for enhanced efficiency and reduced risk.

    Jaco Fölscher, CEO of UPAY Inc., shared his enthusiasm for the system’s launch: “The introduction of the AML GO online platform marks a pivotal moment for UPAY and AML GO. We are thrilled to offer this innovative solution at such a critical time for the consumer credit industry. As financial institutions face growing regulatory pressures, AML GO provides the technology needed to enhance compliance and safeguard against financial crimes.”

    About the Consumer Credit Conference 2024:
    The Consumer Credit Conference is a key industry event that brings together professionals in retail credit, unsecured lending, and risk management to explore strategies for managing credit risks in an increasingly digital world. The conference will cover topics such as credit scoring models, digital lending platforms, risk management strategies, and regulatory compliance. AML GO’s launch at this event highlights the importance of integrating cutting-edge technology in addressing compliance challenges in today’s financial landscape.

    Attendees of the conference will have the opportunity to see the AML GO platform in action and engage in interactive sessions to understand how it addresses their specific compliance needs.

    Mia-Daniel Bester COO of AML GO (Pty) Ltd, commented: “AML GO is proud to be launching at the Consumer Credit Conference. Our platform not only addresses the current compliance challenges but also looks ahead to the future of AML management, ensuring businesses stay ahead in the face of evolving regulations.”

    The launch of the AML GO system reinforces UPAY’s commitment to providing innovative solutions that empower financial institutions in South Africa and beyond. The company continues to set the standard in compliance and risk management technology, driving both innovation and regulatory excellence.

    For more information about AML GO and its new anti-money laundering online system, please visit www.amlgo.co.za

    CONTACT INFORMATION
    UPAY Inc.
    Email: info@upaytechnology.com

    About UPAY Inc.:
    UPAY Inc. is a forward-thinking US public company dedicated to delivering cutting-edge financial solutions across the fintech sector. With a strong focus on innovation, UPAY remains a leader in AML compliance technology and financial risk management.

    About AML GO (Pty) Ltd:
    AML GO is a South African subsidiary of UPAY Inc., specializing in providing anti-money laundering compliance and credit risk solutions for financial institutions. The company’s mission is to empower businesses to meet stringent regulatory requirements through innovative, user-centric technology.

    CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
    The information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of UPAY Inc. This publication contains forward-looking statements, which are not guarantees of future performance. The Company has no obligation to provide the recipient with additional updated information. No information in this publication should be interpreted as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.

    The MIL Network

  • MIL-OSI: EXL Reports 2024 Third Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    2024 Third Quarter Revenue of $472.1 Million, up 14.9% year-over-year

    Q3 Diluted EPS (GAAP) of $0.33, up 24.2% from $0.26 in Q3 of 2023

    Q3 Adjusted Diluted EPS (Non-GAAP) (1)of $0.44, up 16.3% from $0.37 in Q3 of 2023

    NEW YORK, Oct. 29, 2024 (GLOBE NEWSWIRE) — ExlService Holdings, Inc. (Nasdaq: EXLS), a leading data analytics and digital operations and solutions company, today announced its financial results for the quarter ended September 30, 2024.

    Rohit Kapoor, chairman and chief executive officer, said, “We are pleased with our third quarter results. We delivered revenue and adjusted diluted EPS growth of 15% and 16% respectively. The ongoing execution of our data and AI-led strategy enabled us to accelerate our growth, achieving double-digit growth across both our data analytics and digital operations and solutions businesses during the quarter. As we continue to expand our data modernization and AI solution set with innovations such as industry-specific large language models (LLMs), we are well positioned to continue our momentum into the fourth quarter and beyond.”

    Maurizio Nicolelli, chief financial officer, said, “Based on our strong year-to-date performance and current visibility for the remainder of the year, we are raising the full-year guidance range for revenue and EPS. We now expect revenue to be in the range of $1.825 billion to $1.835 billion, up from our prior guidance of $1.805 billion to $1.830 billion. This represents 12% to 13% year-over-year growth on a reported currency basis and approximately 12% on a constant currency basis. We now expect our adjusted diluted earnings per share for 2024 to be in the range of $1.61 to $1.63, up from our prior guidance of $1.59 to $1.62, representing growth of 13% to 14% over the prior year.”

    __________________________________________________________

    (1) Reconciliations of adjusted (non-GAAP) financial measures to the most directly comparable GAAP measures, where applicable, are included at the end of this release under “Reconciliation of Adjusted Financial Measures to GAAP Measures.” These non-GAAP measures, including adjusted diluted EPS and constant currency measures, are not measures of financial performance prepared in accordance with GAAP.

    Financial Highlights: Third Quarter 2024

    • Revenue for the quarter ended September 30, 2024 increased to $472.1 million compared to $411.0 million for the third quarter of 2023, an increase of 14.9% on a reported basis and 14.5% on a constant currency basis. Revenue increased by 5.3% sequentially on a reported basis and 4.9% on a constant currency basis, from the second quarter of 2024.
        Revenue   Gross Margin
        Three months ended
      Three months ended
    Reportable Segments   September 30,
    2024

      September 30,
    2023

      June 30,
    2024

      September 30,
    2024

      September 30,
    2023

      June 30,
    2024

        (dollars in millions)        
    Insurance   $ 157.6     $ 136.4     $ 149.3       36.3 %     36.6 %     36.0 %
    Healthcare     30.5       26.2       28.1       33.6 %     36.8 %     33.1 %
    Emerging Business     80.0       65.3       77.2       40.2 %     42.4 %     41.6 %
    Analytics     204.0       183.1       193.8       38.5 %     37.0 %     36.7 %
    Revenues, net   $ 472.1     $ 411.0     $ 448.4       37.8 %     37.7 %     37.1 %
     
    • Operating income margin for each of the quarter ended September 30, 2024 and the third quarter of 2023, was 14.7%, and 13.7% for the second quarter of 2024. Adjusted operating income margin for the quarter ended September 30, 2024, was 19.9%, compared to 20.0% for the third quarter of 2023 and 19.8% for the second quarter of 2024.
    • Diluted earnings per share for the quarter ended September 30, 2024, was $0.33, compared to $0.26 for the third quarter of 2023 and $0.28 for the second quarter of 2024. Adjusted diluted earnings per share for the quarter ended September 30, 2024, was $0.44, compared to $0.37 for the third quarter of 2023 and $0.40 for the second quarter of 2024.

    Business Highlights: Third Quarter 2024

    • Won 13 new clients in the third quarter of 2024, with 8 clients in digital operations and solutions business and 5 clients in analytics.
    • Launched the EXL Insurance LLM, developed using NVIDIA AI software. This LLM addresses the highly specialized needs of the insurance industry, leveraging EXL’s 25 years of experience in the industry and a proprietary data set with more than a decade of claims-related data.
    • Expanded partnership with Databricks to deploy new data management and generative AI solutions into the Databricks ecosystem, speeding the development of cutting-edge data management solutions for EXL clients.
    • Recognized as a Major Player in the IDC MarketScape: Worldwide Data Modernization Services 2024 Vendor Assessment based on our core value propositions, execution and innovation capabilities, go-to-market strategy, and market impact.
    • Named by Newsweek as one of America’s Most Reliable Companies 2025 based on parameters including: Likelihood of Recommendation, Ease of Doing Business, Value for Money, Consistency of Deliverables, and Reputation for Dependability.

    2024 Guidance
    Based on current visibility, and a U.S. dollar to Indian rupee exchange rate of 84.0, U.K. pound sterling to U.S. dollar exchange rate of 1.30, U.S. dollar to the Philippine peso exchange rate of 58.0 and all other currencies at current exchange rates, we are providing the following guidance for the full year 2024:

    • Revenue of $1.825 billion to $1.835 billion, representing an increase of 12% to 13% on a reported currency basis and approximately 12% on a constant currency basis from 2023.
    • Adjusted diluted earnings per share of $1.61 to $1.63, representing an increase of 13% to 14% from 2023.

    Conference Call

    ExlService Holdings, Inc. will host a conference call on Wednesday, Oct. 30, 2024, at 10:00 A.M. ET to discuss the company’s quarterly operating and financial results. The conference call will be available live via the internet by accessing the investor relations section of EXL’s website at ir.exlservice.com, where an accompanying investor-friendly spreadsheet of historical operating and financial data can also be accessed. Please access the website at least fifteen minutes prior to the call to register, download and install any necessary audio software.

    Please note that there is a new system to access the live call-in order to ask questions. To join the live call, please register here. For those who cannot access the live broadcast, a replay will be available on the EXL website ir.exlservice.com for a period of approximately twelve months.

    About ExlService Holdings, Inc.

    EXL (Nasdaq: EXLS) is a leading data analytics and digital operations and solutions company. We partner with clients using a data and AI-led approach to reinvent business models, drive better business outcomes and unlock growth with speed. EXL harnesses the power of data, analytics, AI, and deep industry knowledge to transform operations for the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have more than 57,000 employees spanning six continents. For more information, visit www.exlservice.com.

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

    EXLSERVICE HOLDINGS, INC.
    CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
    (In thousands, except per share amount and share count)
     
      Three months ended September 30,   Nine months ended September 30,
        2024       2023       2024       2023  
    Revenues, net $ 472,073     $ 410,971     $ 1,356,946     $ 1,216,610  
    Cost of revenues(1)   293,806       256,002       849,336       760,691  
    Gross profit(1)   178,267       154,969       507,610       455,919  
    Operating expenses:              
    General and administrative expenses   57,495       52,213       167,195       144,564  
    Selling and marketing expenses   37,568       30,943       108,982       88,674  
    Depreciation and amortization expense   13,799       11,583       39,055       38,192  
    Total operating expenses   108,862       94,739       315,232       271,430  
    Income from operations   69,405       60,230       192,378       184,489  
    Foreign exchange gain, net   278       409       673       838  
    Interest expense   (5,526 )     (3,405 )     (14,145 )     (10,030 )
    Other income, net   4,374       778       11,876       6,594  
    Income before income tax expense and earnings from equity affiliates   68,531       58,012       190,782       181,891  
    Income tax expense   15,460       14,161       43,086       37,773  
    Income before earnings from equity affiliates   53,071       43,851       147,696       144,118  
    Gain/(loss) from equity-method investment   (34 )     25       (71 )     157  
    Net income $ 53,037     $ 43,876     $ 147,625     $ 144,275  
    Earnings per share:              
    Basic $ 0.33     $ 0.26     $ 0.90     $ 0.87  
    Diluted $ 0.33     $ 0.26     $ 0.90     $ 0.86  
    Weighted average number of shares used in computing earnings per share:              
    Basic   161,732,872       166,159,619       163,197,767       166,707,599  
    Diluted   163,187,733       167,688,374       164,620,081       168,591,612  

    (1) Exclusive of depreciation and amortization expense.

    EXLSERVICE HOLDINGS, INC.
    CONSOLIDATED BALANCE SHEETS (UNAUDITED)
    (In thousands, except per share amount and share count)
     
      As of
      September 30, 2024   December 31, 2023
           
    Assets      
    Current assets:      
    Cash and cash equivalents $ 150,102     $ 136,953  
    Short-term investments   175,648       153,881  
    Restricted cash   7,342       4,062  
    Accounts receivable, net   340,904       308,108  
    Other current assets   93,693       76,669  
    Total current assets   767,689       679,673  
    Property and equipment, net   107,395       100,373  
    Operating lease right-of-use assets   71,796       64,856  
    Restricted cash   5,820       4,386  
    Deferred tax assets, net   106,881       82,927  
    Goodwill   427,663       405,639  
    Other intangible assets, net   51,291       50,164  
    Long-term investments   14,184       4,430  
    Other assets   57,113       49,524  
    Total assets $ 1,609,832     $ 1,441,972  
    Liabilities and stockholders’ equity      
    Current liabilities:      
    Accounts payable $ 4,082     $ 5,055  
    Current portion of long-term borrowings   4,891       65,000  
    Deferred revenue   12,472       12,318  
    Accrued employee costs   110,677       117,137  
    Accrued expenses and other current liabilities   105,159       114,113  
    Current portion of operating lease liabilities   16,904       12,780  
    Total current liabilities   254,185       326,403  
    Long-term borrowings, less current portion   339,828       135,000  
    Operating lease liabilities, less current portion   62,336       58,175  
    Deferred tax liabilities, net   3,245       1,495  
    Other non-current liabilities   42,675       31,462  
    Total liabilities   702,269       552,535  
    Commitments and contingencies      
    Stockholders’ equity:      
    Preferred stock, $0.001 par value; 15,000,000 shares authorized, none issued          
    Common stock, $0.001 par value; 400,000,000 shares authorized, 205,317,002 shares issued and 160,880,592 shares outstanding as of September 30, 2024 and 203,410,038 shares issued and 165,277,880 shares outstanding as of December 31, 2023   205       203  
    Additional paid-in capital   572,430       508,028  
    Retained earnings   1,231,288       1,083,663  
    Accumulated other comprehensive loss   (122,593 )     (127,040 )
    Total including shares held in treasury   1,681,330       1,464,854  
    Less: 44,436,410 shares as of September 30, 2024 and 38,132,158 shares as of December 31, 2023, held in treasury, at cost   (773,767 )     (575,417 )
    Total stockholders’ equity   907,563       889,437  
    Total liabilities and stockholders’ equity $ 1,609,832     $ 1,441,972  

    EXLSERVICE HOLDINGS, INC.

    Reconciliation of Adjusted Financial Measures to GAAP Measures

    In addition to its reported operating results in accordance with U.S. generally accepted accounting principles (GAAP), EXL has included in this release certain financial measures that are considered non-GAAP financial measures, including the following:

    1. Adjusted operating income and adjusted operating income margin;
    2. Adjusted EBITDA and adjusted EBITDA margin;
    3. Adjusted net income and adjusted diluted earnings per share; and
    4. Revenue growth on constant currency basis.

    These non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles, should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and may be different from non-GAAP financial measures used by other companies. Accordingly, the financial results calculated in accordance with GAAP and reconciliations from those financial statements should be carefully evaluated. EXL believes that providing these non-GAAP financial measures may help investors better understand EXL’s underlying financial performance. Management also believes that these non-GAAP financial measures, when read in conjunction with EXL’s reported results, can provide useful supplemental information for investors analyzing period-to-period comparisons of the Company’s results and comparisons of the Company’s results with the results of other companies. Additionally, management considers some of these non-GAAP financial measures to determine variable compensation of its employees. The Company believes that it is unreasonably difficult to provide its earnings per share financial guidance in accordance with GAAP, or a qualitative reconciliation thereof, for a number of reasons, including, without limitation, the Company’s inability to predict its future stock-based compensation expense under ASC Topic 718, the amortization of intangibles associated with future acquisitions and the currency fluctuations and associated tax effects. As such, the Company presents guidance with respect to adjusted diluted earnings per share. The Company also incurs significant non-cash charges for depreciation that may not be indicative of the Company’s ability to generate cash flow.

    EXL non-GAAP financial measures exclude, where applicable, stock-based compensation expense, amortization of acquisition-related intangible assets, restructuring costs, litigation settlement costs and associated legal fees, effects of termination of leases, certain defined social security contributions, allowance for certain material expected credit losses, other acquisition-related expenses or benefits and effect of any non-recurring tax adjustments. Acquisition-related expenses or benefits include, changes in the fair value of contingent consideration, external deal costs, integration expenses, direct and incremental travel costs and non-recurring benefits or losses. Our adjusted net income and adjusted diluted EPS also excludes the effects of income tax on the above pre-tax items, as applicable. The effects of income tax of each item is calculated by applying the statutory rate of the local tax regulations in the jurisdiction in which the item was incurred.

    A limitation of using non-GAAP financial measures versus financial measures calculated in accordance with GAAP is that non-GAAP financial measures do not reflect all of the amounts associated with our operating results as determined in accordance with GAAP and exclude costs that are recurring, namely stock-based compensation and amortization of acquisition-related intangible assets. EXL compensates for these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP financial measures to allow investors to evaluate such non-GAAP financial measures.

    EXL’s primary exchange rate exposure is with the Indian rupee, the Philippine peso, the U.K. pound sterling and the South African rand. The average exchange rate of the U.S. dollar against the Indian rupee increased from 82.69 during the quarter ended September 30, 2023 to 83.79 during the quarter ended September 30, 2024, representing a depreciation of 1.3% against the U.S. dollar. The average exchange rate of the U.S. dollar against the Philippine peso increased from 56.02 during the quarter ended September 30, 2023 to 56.84 during the quarter ended September 30, 2024, representing a depreciation of 1.5% against the U.S. dollar. The average exchange rate of the U.K. pound sterling against the U.S. dollar increased from 1.26 during the quarter ended September 30, 2023 to 1.31 during the quarter ended September 30, 2024, representing an appreciation of 4.4% against the U.S. dollar. The average exchange rate of the U.S. dollar against the South African rand decreased from 18.49 during the quarter ended September 30, 2023 to 17.74 during the quarter ended September 30, 2024, representing an appreciation of 4.1% against the U.S. dollar.

    The following table shows the reconciliation of these non-GAAP financial measures for the three months ended September 30, 2024 and September 30, 2023, and the three months ended June 30, 2024:

    Reconciliation of Adjusted Operating Income and Adjusted EBITDA
    (Amounts in thousands)
     
      Three months ended
      September 30,   June 30,
        2024       2023       2024  
    Net Income (GAAP) $ 53,037     $ 43,876     $ 45,825  
    add: Income tax expense   15,460       14,161       13,873  
    add/(subtract): Foreign exchange gain, net, interest expense,
    gain/(loss) from equity-method investment and other income/(loss), net
      908       2,193       1,751  
    Income from operations (GAAP) $ 69,405     $ 60,230     $ 61,449  
    add: Stock-based compensation expense   21,232       17,067       18,095  
    add: Amortization of acquisition-related intangibles   3,449       3,157       3,077  
    add: Restructuring and litigation settlement costs (a)               6,174  
    add: Allowance for expected credit losses (b)         1,700        
    Adjusted operating income (Non-GAAP) $ 94,086     $ 82,154     $ 88,795  
    Adjusted operating income margin as a % of Revenue (Non-GAAP)   19.9 %     20.0 %     19.8 %
    add: Depreciation on long-lived assets   10,350       8,426       9,833  
    Adjusted EBITDA (Non-GAAP) $ 104,436     $ 90,580     $ 98,628  
    Adjusted EBITDA margin as a % of revenue (Non-GAAP)   22.1 %     22.0 %     22.0 %

    (a) To exclude effects of employee severance costs and outplacement support costs of $4,762 and litigation settlement costs and associated legal fees of $1,412 during the three months ended June 30, 2024.

    (b) To exclude the effects of material allowance for expected credit losses on accounts receivables related to a customer bankruptcy event during the three months ended September 30, 2023.

    Reconciliation of Adjusted Net Income and Adjusted Diluted Earnings Per Share
    (Amounts in thousands, except per share amount)
     
      Three months ended
      September 30,   June 30,
        2024       2023       2024  
    Net income (GAAP) $ 53,037     $ 43,876     $ 45,825  
    add: Stock-based compensation expense   21,232       17,067       18,095  
    add: Amortization of acquisition-related intangibles   3,449       3,157       3,077  
    add: Restructuring and litigation settlement costs (a)               6,174  
    add: Effects of changes in fair value of contingent consideration         2,500        
    add: Allowance for expected credit losses (b)         1,700        
    subtract: Tax impact on stock-based compensation expense (c)   (5,830 )     (4,340 )     (4,619 )
    subtract: Tax impact on amortization of acquisition-related intangibles   (866 )     (771 )     (765 )
    subtract: Tax impact on restructuring and litigation settlement costs               (1,588 )
    subtract: Tax impact on allowance for expected credit losses         (429 )      
    Adjusted net income (Non-GAAP) $ 71,022     $ 62,760     $ 66,199  
    Adjusted diluted earnings per share (Non-GAAP) $ 0.44     $ 0.37     $ 0.40  

    (a) To exclude effects of employee severance costs and outplacement support costs of $4,762 and litigation settlement costs and associated legal fees of $1,412 during the three months ended June 30, 2024.

    (b) To exclude the effects of material allowance for expected credit losses on accounts receivables related to a customer bankruptcy event during the three months ended September 30, 2023.

    (c) Tax impact includes $1,673 and $462 during the three months ended September 30, 2024 and 2023 respectively, and $18 during the three months ended June 30, 2024, related to discrete benefits recognized in income tax expense in accordance with ASU No. 2016-09, Compensation – Stock Compensation.

    Contacts:
    Investor Relations
    John Kristoff
    Vice President, Investor Relations
    +1 212 209 4613
    ir@exlservice.com

    Media – US
    Keith Little
    Assistant Vice President, Media Relations
    +1 703 598 0980
    media.relations@exlservice.com

    The MIL Network

  • MIL-OSI Economics: How the B20 is turning policy into action for a sustainable future

    Source: International Chamber of Commerce

    Headline: How the B20 is turning policy into action for a sustainable future

    As a B20 Network Partner, ICC supported the Brazilian National Confederation of Industry (CNI) in the fulfilment of the theme – contributing to the development of impactful policy recommendations, leveraging the participation of 11 ICC Executive Board members across a range of Task Forces, and ICC and World Chambers Federation leadership in the B20 International Business Advisory Caucus.

    The B20 is a global platform for the international business community to support the work of the G20 process. Here’s how ICC is working to help the B20 turn policy into action.

    Improving representation of women in B20 Task Forces

    As a partner institution of a new B20 initiative to help increase the representation of women in B20 membership and leadership, ICC pledged to support B20 presidencies by proposing women candidates eligible to chair B20 task forces and encouraging women to become B20 members through the mobilisation of the global ICC network in over 170 countries. The SheLeads B20 initiative aims to achieve 50% female representation by 2030. ICC Secretary General John W.H. Denton AO, who co-chaired a B20 Task Force on Finance and Infrastructure, signed the pledge on behalf of ICC, together with representatives from the OECD, Business at OECD, and International Organisation of Employers (IOE). Prominent women leaders, ICC Honorary Chair Maria Fernanda Garza, ICC Board Member Lama Al-Sulaiman and ICC World Chambers Federation First Vice-Chair Marie Christine Oghly co-chaired B20 Brazil Task Forces on Integrity and Compliance, Employment and Education, and Women, Diversity and Inclusion in Business respectively. Five additional female ICC Board Members (Candace Johnson, Rebecca Enonchong, Marienne Coutinho, Marjorie Yang, and Patricia Nzolantima) were also Members of B20 Task Forces this year.

    Women in trade

    ICC is also a proud supporter of B20 Brazil’s Women in Trade legacy initiative. Working in collaboration with the International Trade Centre (ITC) and the Organisation for Economic Co-operation and Development (OECD), the initiative saw the G20 and B20 partner to share knowledge and best practices for inclusive trade policy designed to increase women’s participation in international trade.

    Combatting food loss and waste

    The Summit also saw the launch of an ICC-B20 Global Challenge against Food Loss and Waste to address food insecurity. The Initiative aims to identify, through a global challenge, private sector projects that can contribute to tackle the most critical issues related to food loss and waste.

    Following a consultation phase, businesses worldwide will be invited to submit proposals aimed at addressing the five biggest challenges related to food loss and waste. The highest-ranking projects will be presented at the FAO World Food Forum in October 2025, providing an opportunity for further visibility and engagement with key stakeholders. A founding member of the Global Alliance Against Hunger and Poverty, one of the Brazilian G20 Presidency’s key initiatives, ICC is committed to leveraging the unique expertise and network of the private sector to support and scale integrated solutions to sustainably and equitably feed the world.

    Addressing B20 participants on a panel looking at how B20 Brazil legacy initiatives are turning policy into action, ICC Secretary General John W.H. Denton AO said:

    “Through the ICC-B20 Global Challenge against Food Loss and Waste, we aim to act as a bridge between the B20 and G20, ensuring public-private collaboration to achieve lasting solutions to poverty and hunger worldwide.”

    MIL OSI Economics

  • MIL-OSI USA: Tillis to Lead Legislation to Replenish the SBA Disaster Loan Program Following Hurricanes Helene and Milton

    US Senate News:

    Source: United States Senator for North Carolina Thom Tillis

    WASHINGTON, D.C. – Today, Senator Thom Tillis (R-NC), along with Senators Ted Budd (R-NC), Tim Scott (R-SC), Bill Cassidy, M.D. (R-LA), and Rick Scott (R-FL), announced plans to introduce legislation that would replenish the Small Business Administration (SBA) Disaster Loan Program. The Senators plan to seek passage of the legislation when Congress returns to session.

    On October 15th, the SBA announced the Disaster Loan Fund had run out of money. Senator Tillis previously wrote an op-ed in The Hill urging Congress to return and quickly pass a disaster recovery package to replenish the fund, writing in part: “…Few Helene victims have flood insurance, so the SBA’s various disaster recovery programs are key to long-term recovery. By utilizing these programs, victims can access low-interest loans to replace lost property or repair or rebuild their homes or small businesses. The loans can also be used to provide a financial cushion for small businesses that face an economic loss in the months ahead due to the storm.” 

    “The SBA Disaster Loan Program running out of funds risks delays in processing the loans of those affected by Helene and Milton and their ability to get their lives back on track,” said Senator Tillis. “That is why I am leading legislation to replenish this fund when Congress returns to Washington, and I look forward to working across the aisle to pass a long-term disaster aid package that will provide additional resources to help make the victims of these hurricanes whole again.”

    “The citizens of Western North Carolina are some of the toughest and most resilient people in this country,” said Senator Budd. “As they recover and rebuild their communities, they must be able to access disaster loans from SBA. This recovery will take many years, and I look forward to working with my colleagues to cut through the delays and provide WNC with the resources they need as quickly as possible.” 

    “Hurricane Helene brought a level of devastation to South Carolina we haven’t seen since Hugo. With a natural disaster of this magnitude, Congress should take the opportunity to show leadership and help ease the pain of those who have lost everything,” said Senator Tim Scott. “Communities back home and in surrounding states have come together to recover, but it will take every possible effort to get us back to where we were.”

    “Hurricanes Francine, Helene, and Milton hit us hard, but Louisianans and Americans are resilient,” said Dr. Cassidy. “This funding is essential to help small businesses recover from these storms and support our local economies.”

    “We cannot allow frontline federal agencies, like the SBA, to run out of disaster relief funds. This is especially important in the wake of Hurricanes Helene and Milton which devastated Florida, North Carolina and communities across the Southeast U.S.,” said Senator Rick Scott. “I continue to call on Leader Schumer to immediately reconvene the Senate so we can fund disaster relief functions at FEMA, the SBA, USDA and other agencies to get folks what they need and deserve. I won’t stop fighting to get this done and am proud to join my colleagues to introduce a bill that funds SBA disaster loans and makes sure the federal government is a reliable partner as families continue their recovery.” 

    The Restoring an Economic Lifeline with Immediate Emergency Funding (Relief) Act would appropriate $550 million to fund the SBA Disaster Loan Program Account, which would provide $2.475B in lending capacity projected to last until the end of 2024.

    Read text of the bill HERE.

    MIL OSI USA News

  • MIL-OSI USA: FDA Roundup: October 29, 2024

    Source: US Food and Drug Administration

    For Immediate Release:

    Today, the U.S. Food and Drug Administration is providing an at-a-glance summary of news from around the agency: 

    • Today, the FDA responded to objections on the agency’s final rule that removed the authorized food contact uses of most phthalates because industry abandoned these uses. The FDA evaluated the objections and concluded that they did not provide a basis for modifying the final rule. However, the FDA is working on an updated safety assessment of the remaining authorized uses, including considering information we have received through our request for information, and phthalates are included on the list of select chemicals under FDA review.
    • On Monday, the FDA announced a hybrid meeting, In Vitro Diagnostics (IVD) Roundtable, that will be held on Nov. 12, 2024, at 10 a.m. ET. The meeting will provide a forum to facilitate communication between the FDA and IVD industry. Participants can attend in-person or virtually. Space is limited for in-person attendance. There is no fee to attend, and registration is required. To attend in person, register by Oct. 30, 2024. To attend virtually, register by Nov. 12, 2024.
    • On Monday, the FDA shared information about medical device cybersecurity. Like other electronics, medical devices can be vulnerable to security breaches, potentially impacting the safety and effectiveness of the device. Informed by patient voices and collaborations with industry, government agencies, and health care delivery organizations, the FDA will continue to drive and refine medical device cybersecurity policy. Before Cybersecurity Awareness Month ends, check out these recent publications that may be generally informative to help keep medical devices operating safely.
    • On Friday, the FDA issued a safety communication to alert consumers, health care providers, and health care facilities not to use BioZorb Markers and BioZorb LP Markers by Hologic Inc. On Oct. 25, 2024, Hologic announced a voluntary recall for removal of all lots of unused BioZorb Markers. The recall is due to reports of serious adverse events occurring in patients who had the devices implanted in breast tissue. 
    • On Friday, the FDA granted marketing authorization of Distalmotion, SA’s Dexter L6 System, an electromechanical surgical system intended to repair inguinal hernias through minimally invasive procedures using high-precision surgical endoscopic instruments. The Dexter L6 System includes a console surgeons use to control movements of the different parts of the system, separate carts that can be positioned next to the operating room table, and arms that get attached to the carts and that can hold and manipulate different endoscopic instruments based on motions captured on the surgeon-controlled console. Although the Dexter L6 Surgical System operates using similar principles as other robotically assisted surgery device systems, it allows for the surgeon and the user interface to be in the sterile field, unlike other authorized devices. The Dexter L6 System is intended for use by trained laparoscopic surgeons on patients 22 years of age or older. This authorization reinforces the FDA’s commitment to providing physicians and patients with minimally invasive surgery options to treat relatively common conditions, such as inguinal hernias.
    • On Friday, three individuals in London were sentenced for their role in the international importation and distribution of unapproved drugs. The operation seized over £1M ($1.3M) and 1 million illicit pills. This result is the culmination of numerous law enforcement agencies, including the FDA Office of Criminal Investigations (FDA-OCI), working together from across the world for more than three years. The investigation began in October 2020 when U.S. Customs and Border Protection seized numerous shipments sent from the U.K. found to contain illicit drugs. Information sharing between FDA-OCI and the City of London Police led to the successful execution of warrants in the U.S., where illicit unapproved drugs were found.

    Related Information

    ###

    Boilerplate

    The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation’s food supply, cosmetics, dietary supplements, radiation-emitting electronic products, and for regulating tobacco products.


    Inquiries

    Consumer:
    888-INFO-FDA

    MIL OSI USA News

  • MIL-OSI USA: DBEDT NEWS RELEASE: Small Business Regulatory Review Board Elects 2024-2025 Officers

    Source: US State of Hawaii

    DBEDT NEWS RELEASE: Small Business Regulatory Review Board Elects 2024-2025 Officers

    Posted on Oct 29, 2024 in Latest Department News, Newsroom

    DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM

     

    SMALL BUSINESS REGULATORY REVIEW BOARD

     

    JOSH GREEN, M.D.
    GOVERNOR

    JAMES KUNANE TOKIOKA
    DIRECTOR

    DORI PALCOVICH
    SBRRB ADMINISTRATOR

    FOR IMMEDIATE RELEASE

    October 29, 2024

    SMALL BUSINESS REGULATORY REVIEW BOARD ELECTS 2024-2025 OFFICERS

     

    HONOLULU – The Department of Business, Economic Development and Tourism (DBEDT) Small Business Regulatory Review Board (SBRRB) has announced its officers for fiscal year 2024 to 2025.

    Jonathan Shick, chair (O‘ahu) – Mr. Shick works for Pono Consulting Group LLC, has been a member for five years and was previously the SBRRB’s second vice chair.

    Mary Albitz, vice chair (Maui) – Ms. Albitz is the owner of Island Art Party, a paint and sip studio located in Kīhei. She has been a member since 2018, most recently as chair of the SBRRB.

    Sanford Morioka, second vice-chair (O‘ahu) – Mr. Morioka is president of Edward Enterprises, Inc. and has been a member since 2022.

    Other board members are Robert Cundiff (O‘ahu), Mark Ritchie (DBEDT Ex Officio), Garth Yamanaka (Hawai‘i), James (Kimo) Lee (Hawai‘i) and Tessa Gomes (O‘ahu), as well as recent Governor Josh Green, M.D. appointees Nikki Ige (Kauaʻi) and Jennifer Salisbury (Maui).

    “Mahalo to the SBRRB members for their dedication and commitment to improving Hawai‘i’s small business landscape,” said DBEDT Director James Kunane Tokioka. “These collaborative efforts encourage and support the vitality of small businesses in Hawai‘i.”

    “The SBRRB oversees rules and regulations for Hawai‘i small businesses promulgated by both state and county agencies,” said SBRRB Administrator Dori Palcovich. “Navigating government agencies at various levels – federal, state, county and city is very difficult for our small businesses. However, in my 23 years as its administrator, I fully believe that the SBRRB is very committed to improving the regulatory climate in the state for the benefit of small businesses.”

    The SBRRB meets monthly both in-person and by electronic means. We encourage those small businesses that may have specific regulatory concerns with Hawai‘i Administrative Rules to learn more about the monthly meetings at sbrrb.hawaii.gov.

    About Small Business Regulatory Review Board (SBRRB)

     

    The SBRRB was established on July 1, 1998 with the passage of the Small Business Regulatory Flexibility Act. The responsibilities of the SBRRB include:

    1) Commentary on small business impact statements to the rule-drafting agencies.

    2) Identification and commentary on business impact of existing administrative rules.

    3) Recommendations to the Governor’s Office, state agencies or legislature, on any proposed new or amended administrative rules or changes in legislation.

    4) Recommendations to the mayors or county councils regarding county rules; and

    5) Review of small business petitions and complaints on business impact.

    The SBRRB comprises 10 volunteer members who are current or former owners or officers of businesses from across the state, as well as the director of DBEDT or the director’s designated representative, who serves as an “ex officio” member. Three members are appointed by the Senate President, three members by the Speaker of the House, two members by the SBRRB, and two are appointed by the Governor.

    Further, the appointments reflect a representation of a variety of businesses in the state with no more than two members from the same type of business and at least one representative from each county.

    About Department of Business, Economic Development and Tourism (DBEDT)


    DBEDT is Hawai‘i’s resource center for economic and statistical data, business development opportunities, energy and conservation information as well as foreign trade advantages. DBEDT’s mission is to achieve a Hawai‘i economy that embraces innovation and is globally competitive, dynamic and productive, providing opportunities for all Hawai‘i’s citizens. Through its attached agencies, the department fosters planned community development, creates affordable workforce housing units in high-quality living environments and promotes innovation sector job growth.

     

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    Media Contact:

     

    Laci Goshi

    Department of Business, Economic Development and Tourism 

    808-518-5480

    [email protected]

    dbedt.hawaii.gov 

    MIL OSI USA News