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Category: Economy

  • MIL-OSI Global: The dangers of ‘Jekyll and Hyde leadership’: Why making amends after workplace abuse can hurt more than it helps

    Source: The Conversation – USA – By John Sumanth, James Farr Fellow & Associate Professor of Management, Wake Forest University

    Not the picture of leadership. LMPC via Getty Images

    A glance at the day’s headlines reveals a universal truth: Leadership matters.

    Whether uplifting and ethical or toxic and abusive, leaders profoundly shape our lives. And this is especially true on the job. Research consistently shows that leadership influences employees’ attitudes, behaviors and emotions, driving key organizational outcomes such as creativity, employee engagement, well-being and financial performance.

    Unfortunately, research also shows that supervisors abuse their employees far too often and then try to manage impressions to compensate for their bad behavior. But what happens when a leader tries to “make up” for past abuse by suddenly acting ethically? And do employees have to experience the abuse firsthand for it to hurt them?

    As professors who study management – and who’ve heard horror stories of employees working under mercurial bosses – we wanted to find answers. So we conducted a study, which was recently published in the Journal of Applied Psychology.

    Our research includes multiple samples of full-time employees in the U.S. and the United Kingdom. To begin, we surveyed 222 employees and 66 supervisors to gather insights into workplace leadership and work experiences. We focused on two contrasting leadership behaviors: ethical leadership and abusive supervision. We also conducted experiments with 400 people, presenting them with stories about managers who alternately display both ethical leadership and abusive supervision and asking them how they would respond.

    Across these studies, we found that employees who experience such oscillating leadership often end up worse off – in terms of their emotional well-being and job performance – than if they were consistently being abused. By going back and forth between abusive and ethical behaviors, leaders create greater confusion, leaving their employees emotionally exhausted.

    Instead of providing relief, acts of ethical leadership ironically serve to amplify the damage done by prior abusive behavior.

    Jekyll and Hyde leadership in practice

    As an example, consider Steve Jobs, the co-founder and chief executive officer of Apple for more than a decade until his death in 2011. While Jobs was an icon to many people, he reportedly swung between toxic and positive leadership behavior while dealing with subordinates.

    For example, when Jobs’ exacting standards weren’t met, he would reportedly storm into meetings and profanely berate the team responsible for not living up to his lofty expectations. Yet, despite these outbursts, he was also described as a leader who believed in his employees’ potential, expressing unwavering confidence in their abilities and empowering them to exceed their own expectations.

    This kind of unpredictable leadership can leave workers emotionally exhausted, wondering: “Which version of my boss will show up today? Will this kindness last, or is it just a setup for another blow?” Unsurprisingly, this isn’t good for productivity.

    Employees value stability and predictability in their leaders. A supervisor who bounces between harsh criticism and warm praise creates an emotional roller coaster for the team. When employees see a supervisor as unpredictable, they experience more stress and emotional exhaustion, which hurts their job performance and willingness to share ideas.

    Interestingly, we found that workers don’t even need to be directly targeted by an abusive supervisor to be affected; employees whose immediate supervisors get the Jekyll-and-Hyde treatment from their higher-ups suffer similar consequences.

    These negative reactions occur, in part, because employees begin to doubt that their immediate supervisors are able to effectively influence higher-level leaders. In other words, the psychological toll of Jekyll-and-Hyde leaders isn’t limited to direct encounters but can also be experienced vicariously.

    How companies can banish Mr. Hyde

    The good news is that organizations can break this cycle – and workers are likely to be less stressed and more productive when they do. Here are three steps every organization can take:

    • Train leaders to manage stress without lashing out. High-pressure environments are prevalent these days, but abusive leader behavior doesn’t have to be. Providing leaders with tools like emotional intelligence training and conflict resolution skills can help leaders navigate both personal and professional challenges more constructively.

    • Address the abusive behavior directly. When abusive actions occur, ignoring them or asking the leader to “be nicer next time” isn’t enough. Structured interventions – like one-on-one coaching, counseling or formal sanctions – are essential for generating real change. Employees need to see that the organization is living up to its stated values and ideals.

    • Foster a culture of trust and accountability. Tools like 360-degree feedback reports – which involve feedback from supervisors, peers and subordinates – can help leaders gain deeper insight into their behaviors. These can be used not just for development, but also for heightened accountability. Creating a climate of psychological safety – in which employees can report concerns without fear of retaliation – is key to rebuilding trust. So is ensuring clear, consistent responses to reports of abusive supervision.

    Great leaders understand the power of trust and setting an example. Employees want leaders they can rely on, not ones who keep them guessing. So leaders should be wary about employing ethical leadership as a quick fix for past mistakes. Rather, it’s about showing up consistently, authentically, and with integrity every single day.

    For leaders at all levels, the takeaway is simple: Consistency fosters success. Organizations that prioritize stable, ethical leadership create workplaces where employees feel valued, supported and empowered to do their best work.

    The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. The dangers of ‘Jekyll and Hyde leadership’:
    Why making amends after workplace abuse can hurt more than it helps – https://theconversation.com/the-dangers-of-jekyll-and-hyde-leadership-why-making-amends-after-workplace-abuse-can-hurt-more-than-it-helps-244622

    MIL OSI – Global Reports –

  • MIL-OSI Global: Investors value corporate tax responsibility – at least when the company is based somewhere with a lot of inequality, research shows

    Source: The Conversation – USA – By Erica Neuman, Assistant Professor of Accounting, University of Dayton

    When corporations based in areas of above-average income inequality pay more taxes, it’s not just the public that appreciates it – investors do, too. That’s the key finding of our recent research published in the journal Accounting and the Public Interest.

    Our finding challenges traditional economic theory holding that investors see corporate taxes as a transfer of wealth from shareholders to the state. That would suggest investors value only strategies that minimize taxes. The reality isn’t so simple.

    As accounting professors at the University of Dayton, we study the intersection of corporate taxes and corporate social responsibility. We wanted to better understand how corporate taxes affect firm value and stock prices, and whether that relationship changes if a company is headquartered in an area with high income inequality.

    So we looked at financial data from over 1,500 firms over a 10-year period between 2011 and 2019, as well as the income inequality in the metro areas where they’re headquartered. For the latter point, we used the Gini coefficient, a measure of income distribution in a given place. This is a particularly useful context for looking at corporate taxes, since one of the key functions of taxation is to counter inequality.

    We found that there’s a negative relationship between corporate taxes and firm value for companies headquartered in areas of average inequality. In other words, paying more corporate taxes lowers firm value. That’s in line with previous research and traditional economic theory.

    However, we found that when local income inequality rises above the average, the relationship between corporate taxes and firm value flips. This flip suggests that some companies actually receive a financial benefit from paying corporate taxes.

    Why? We found that these companies enjoy a reputational benefit for being socially responsible taxpayers. Indeed, our results were driven by businesses that are are otherwise widely viewed as good corporate citizens. For those companies, paying taxes represents one of many socially responsible behaviors.

    Why it matters

    Our research offers evidence that investors view corporate taxes positively when they’re consistent with other socially responsible behaviors. Given that corporations have a fiduciary duty to their shareholders, this finding suggests that corporate taxes can play a role in a company’s corporate social responsibility, or CSR, efforts.

    Our findings also align with a 2023 KPMG survey of more than 300 chief tax officers that found more than half said they cared more about looking like good corporate citizens than reducing their tax burdens.

    An extensive body of research has shown that companies’ investments in CSR activities aren’t just selfless – they’re linked with improved operational and financial outcomes. There’s evidence that businesses that prioritize CSR are better able to attract quality employees; have improved corporate reputations; and are more profitable as judged by return on assets, return on equity and return on sales.

    While work on tax responsibility has lagged behind other CSR research, evidence is mounting that paying corporate taxes has positive effects. Much of this research indicates that companies that aggressively minimize tax payments and gain a reputation as “tax avoiders” face harm to their reputation – and therefore, the bottom line.

    Our study dovetails this research and identifies a specific context in which investors view corporate taxes favorably. At a time of tax reform both globally and in the U.S., and as lawmakers and pundits continue to call for greater tax transparency, companies should be aware of the role of corporate tax responsibility in their overall CSR portfolio.

    What’s next

    Corporate tax responsibility is complex and not yet well defined. Our current research examines other circumstances that lead investors to value corporate taxes, which will help companies to quantify the value of including taxes in their CSR portfolios.

    The Research Brief is a short take about interesting academic work.

    The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Investors value corporate tax responsibility – at least when the company is based somewhere with a lot of inequality, research shows – https://theconversation.com/investors-value-corporate-tax-responsibility-at-least-when-the-company-is-based-somewhere-with-a-lot-of-inequality-research-shows-225961

    MIL OSI – Global Reports –

  • MIL-OSI Global: DEI programs are designed to help white people too – here’s how

    Source: The Conversation – USA – By Liza Bondurant, Associate Professor of Secondary Math Education, Mississippi State University

    Many DEI programs support students with a disability, about a fifth of whom are white. simonkr/E+ via Getty Images

    While diversity, equity and inclusion may on the surface seem focused on certain groups, in fact DEI programs benefit people from all walks of life – including white people.

    President Donald Trump and other conservatives have increasingly attacked such initiatives as discriminatory based on the presumption that they benefit only students of color and members of the LGBTQ+ community.

    Most recently, Trump issued an executive order on Jan. 20, 2025, directing federal agencies, including the Department of Education, to eliminate support for DEI positions and projects. The order labels them “illegal and immoral discrimination” and “radical and wasteful.”

    The impact of this sweeping order has been seismic across the U.S. government, private sector and in education in particular as universities have begun eliminating or rebranding their DEI programs and the Department of Education has removed any initiative and even any document or material that referenced diversity, equity or inclusion.

    As professors of education who have studied DEI programs in higher education, we believe these attacks represent a misconception about which groups DEI higher education programs actually support. The reality is, DEI policies help a wide range of people access and succeed in college regardless of their racial or ethnic background.

    Breaking down DEI funding by race

    It’s a challenge to determine the exact percentages of federal DEI funding allocated to groups of students broken down by race and ethnicity. There is limited publicly available data.

    Broadly speaking, a large majority of people within most racial and ethnic groups receive some kind of federal funding – some of which is connected to DEI programs. That includes 81% of Black students, 74% of American Indian/Alaska Native students, 72% of Hispanic or Latino students, 70% of white students, and 66% of Asian students, according to a 2023 report from the National Center for Education Statistics based on data during the 2019-20 academic year.

    The center’s data does not indicate whether those grants were explicitly designated for DEI initiatives. For example, Pell Grants are need-based, but not explicitly DEI.

    That said, DEI initiatives encompass a broad range of programs that support various underrepresented groups, including first-generation college students and students with disabilities. They also benefit women and veterans. Each of these groups invariably includes many white students.

    University DEI programs support underrepresented students from all kinds of backgrounds, such as those who are the first in their family to attend college, about half of whom are white.
    AP Photo/Darron Cummings

    First-generation students

    At most universities, a portion of DEI funding is dedicated to programs designed to support the success of first-generation students, or students whose parents did not graduate from college.

    DEI initiatives enhance first-generation students’ academic success by addressing their unique challenges, such as financial constraints, cultural adjustments and unfamiliarity with college environments. They do this through tailored support programs, inclusive learning communities and mentorship opportunities.

    Research shows that first-generation students are likely to adopt what psychologists call performance avoidance goals – such as the fear of looking incompetent – so they play it safe and don’t try too hard, which can hinder their academic success. But DEI efforts such as faculty engagement programs and dorm communities that mix academics and social support help foster supportive environments that mitigate those challenges.

    National data shows that 56% of college students are first-generation attendees. White students represent 46% of that group, more than any other single race.

    Students with disabilities

    People with disabilities make up the largest minority group in America – and represent a growing share of college students.

    Disability access is a vital yet often overlooked component of DEI efforts, with 20.5% of undergraduate students reporting a disability. Many institutions address this through disability services, which ensure students receive such appropriate testing accommodations as extended exam times, classroom support and access to assistive technology.

    Accommodations for individuals with both sensory and physical disabilities are universally accepted and ensure access to everyone regardless of their ability. DEI initiatives, particularly those focusing on accessibility and support services, play a pivotal role in ensuring students with disabilities have equal opportunities to succeed.

    Given that disabilities affect people from every ethnicity, gender and socioeconomic background, the erasure of DEI programs that support them hurts all groups – and that includes white people, who made up 21.1% of all undergraduate students with disabilities in the 2019-20 academic year.

    We believe it is particularly critical to fund programs that include students with disabilities because, in the past, public providers did not create equitable opportunities for all.

    Before the passage of key legislation such as the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, students with disabilities were often excluded from mainstream educational settings or received inadequate support. Even since those laws were enacted, enforcement has been inconsistent, and gaps in accessibility persist today.

    Women and veterans

    In addition to those two groups, DEI programs also target women and veterans.

    For women, who make up more than half of college students, they promote equity in male-dominated fields such as science, technology, engineering and math, and leadership roles in government, academia and the private sector.

    For veterans, DEI programs provide tailored resources like academic support, mental health services and career transition assistance that recognize the unique challenges some of them face in higher education.

    The GI Bill, which provides financial assistance to veterans pursuing higher education, has also gotten caught up in Trump’s DEI purge. While it wasn’t designed back in 1944 as a DEI initiative – and has often failed to ensure equitable access for Black veterans – the Department of Veterans Affairs has recently tried to provide targeted support to veterans of diverse backgrounds. Trump’s order ended those programs.

    While veterans make up only 6% of undergraduate students, the majority of them – about 60% – are white, with 16% Black, 14% Hispanic and 3% Asian.

    Close to home

    Collectively, those groups and others have benefited from the over US$1 billion in grants the Education Department has allocated to DEI programs since 2021.

    Diversity encompasses a lot more than just race, and that’s why DEI programs are intended to benefit a broad range of people who historically have been underrepresented at universities or have lacked support.

    For both of us, the end of these types of programs hits close to home. One of us is white, and one of us is Black, but we’ve both benefited from DEI initiatives aimed at first-generation college students and women.

    We also both have family members who are veterans or who have disabilities and who have received financial support and resources that made a significant difference in their ability to go to college.

    Most American families – even if they don’t realize it – can tell a similar story of how programs aimed at diversity, equity and inclusion helped them achieve the American dream.

    Trump’s order describes DEI programs as “illegal and immoral discrimination programs” and says Americans deserve “a government committed to serving every person with equal dignity and respect.”

    In our view, the orders are more likely to have the opposite effect.

    The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. DEI programs are designed to help white people too – here’s how – https://theconversation.com/dei-programs-are-designed-to-help-white-people-too-heres-how-248989

    MIL OSI – Global Reports –

  • MIL-OSI Canada: Canada is getting high-speed rail

    Source: Government of Canada – Prime Minister

    The Toronto-Quebec City corridor is a megaregion. It’s home to 18 million people, 40 per cent of our GDP, over 700,000 students, and more than 30 colleges and universities. This dynamic hub needs a transportation system that gets people from city to city, in the fastest time possible.

    The Prime Minister, Justin Trudeau, today announced that Canada is developing a high-speed rail network in the Toronto-Quebec City corridor. This transformative rail network will span approximately 1,000 km and reach speeds of up to 300 km/hour, with stops in Toronto, Peterborough, Ottawa, Montréal, Laval, Trois-Rivières, and Quebec City. Once operational, current travel times will be slashed in half – getting you from Montréal to Toronto in three hours. The official name of this high-speed rail service will be Alto.

    A country that believes in itself invests in its people and infrastructure. As Canada’s largest ever infrastructure project, high-speed rail will turbocharge the Canadian economy – boosting GDP by up to $35 billion annually, creating over 51,000 good-paying jobs during construction, and unlocking enhanced productivity for decades to come. By connecting economic hubs at rapid speed, businesses will have more markets to sell to and workers will have more job opportunities. Electrified, high-speed rail will also help Canada reduce its emissions and meet its climate targets. By giving travellers an efficient and reliable option to get around, we will save Canadians time when they travel, boost tourism, connect communities, and spur affordable housing development across the region.

    Cadence has been carefully selected to not only co-design and build, but also to finance, operate, and maintain this project. Cadence is a consortium of world-renowned companies with expertise and know-how in the design, development, and operation of large-scale transportation infrastructure. Cadence will collaborate and support Alto as work begins on detailed design, Indigenous consultations, land acquisition, and the environmental assessments necessary to enable construction.

    This decision is the result of years of careful deliberations and de-risking, as well as meaningful investment from the Government of Canada.

    Canada is the ninth-largest economy in the world and Canadians deserve the best transportation options. We have world-class talent, critical minerals, natural resources, a dynamic technology ecosystem, and an ambition to grow. High-speed rail in our most populated corridor is our ambition in action. Alongside investing in high-speed rail, we are also creating more jobs with bigger paycheques, fast-tracking new affordable homes, and protecting Canadian interests.

    Quotes

    “Canada is getting high-speed rail. Today’s announcement of Alto, a high-speed rail system between Toronto and Quebec City, will transform our economy – drastically shortening commute times for millions of Canadians, turbocharging economic growth, creating thousands of good-paying jobs, improving productivity, and reducing emissions. Montréal to Toronto in three hours – you can’t beat that.”

    “Today’s announcement will put passengers first, with dedicated tracks between Toronto and Quebec City passing through Peterborough, Ottawa, Montréal, Laval, and Trois-Rivières. This will cut train travel times in half. It will promote growth in regional economies and reduce emissions at the same time. It’s a nation-building project we can all be proud of.”

    “I’m firmly convinced that the way a project is developed is as crucial as the project itself. Which is why we are developing it now, in collaboration with Cadence, relying on the best practices of the industry. We have assembled a unique group of talents, combining the know-how of a federal Crown corporation with the experience of a consortium of world-class private partners. Together, we will build a project that will surpass the highest expectations of Canadians.”

    Quick Facts

    • Canadian passenger rail service currently runs on tracks owned by freight rails, which limits the frequency of the service they offer and leads to delays.
    • To address these challenges, the Government of Canada has been advancing better passenger rail since 2016.
    • Canada’s investment in the co-development phase of the project represents $3.9 billion over six years, starting in 2024-25. This is in addition to the $371.8 million that was provided in Budget 2024.
    • Budget 2022 launched an innovative, rigorous procurement process that brought in world-class rail companies. A Request for Expressions of Interest was completed in October 2022, the Request for Qualifications in July 2023, and as part of the Request for Proposals (RFP), three world-class consortiums (bidders) submitted their final bid submissions in 2024.
    • The procurement was completed on budget and was overseen by a fairness monitor.
    • In November 2022, the Government of Canada created a Crown corporation, VIA HFR (now Alto), to provide oversight of this project.
    • Alto and Cadence will be signing a contract setting out the terms of the next phase of the project – its co-development.

    Associated Link

    MIL OSI Canada News –

  • MIL-OSI: Silvercrest Appoints J. Allen Gray as Head of Institutional Business

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 19, 2025 (GLOBE NEWSWIRE) — Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) is pleased to announce that J. Allen Gray has been promoted to Head of Institutional Business. In this role, he will oversee Silvercrest’s institutional business, as well as consultant and client relations. Since joining Silvercrest in 2008, Mr. Gray has played a pivotal role in the success of the firm’s institutional equity business. He is a Silvercrest Partner and Managing Director, and a member of the company’s Executive Committee.

    Richard Hough, Chairman and Chief Executive Officer of Silvercrest, remarked, “We are immensely proud of Allen Gray’s success and of our talented equity management teams, with whom he has worked so closely for over 15 years. We are thrilled to have Allen leading our institutional business efforts.”

    About J. Allen Gray

    J. Allen Gray is a Managing Director and Head of Institutional Business. Prior to Silvercrest, Mr. Gray served as a Managing Partner and a Member of the Management Committee of Osprey Partners Investment Management, LLC and as President of the Osprey Concentrated Large Cap Value Equity Fund. At Osprey he was responsible for Sales, Marketing and Client Relations. Prior to Osprey Partners, Mr. Gray served as a Managing Director with Radnor Capital Management, a start-up investment firm, where he was responsible for the firm’s sales, marketing and client relations activities. Mr. Gray began his career with Kidder, Peabody & Co. as a financial advisor before accepting a position with Wheat, First Securities, Inc. as Vice President for institutional equity sales as well as continuing to work as a financial advisor to families and individuals. Mr. Gray remained with Wheat, First Securities until the founding of Radnor Capital Management. Mr. Gray received his B.A. in Political Science from Randolph-Macon College.

    About Silvercrest Asset Management

    Silvercrest was founded in April 2002 as an independent, employee-owned registered investment adviser. With offices in New York, Boston, Virginia, Atlanta, New Jersey, California and Wisconsin, Silvercrest provides traditional and alternative investment advisory and family office services to wealthy families and select institutional investors. As of September 30, 2024, the firm reported assets under management of $35.1 billion.

    Contact:
    Richard R. Hough III
    Chairman & CEO
    212-649-0601
    rhough@silvercrestgroup.com

    The MIL Network –

  • MIL-OSI: Top-Producing LO Chris Franquemont Boomerangs Back to Rate After Brief Stint with CrossCountry

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Feb. 19, 2025 (GLOBE NEWSWIRE) — Rate, a leader in fintech mortgage solutions, continues to prove that top producers choose to build their careers at the company. After a short time with CrossCountry, Chris Franquemont, a dominant loan originator in the Denver market, has returned to Rate—reinforcing the company’s unmatched ability to help loan officers (LOs) maximize their production and serve their customers at the highest level.

    A 20-year industry veteran, Franquemont has built a reputation as a top-performing LO in Denver, consistently delivering high-volume production and strategic financing solutions for homebuyers. In 2024 alone, he funded $38 million across 103 loans, helping families secure homeownership with expert guidance and efficiency. His decision to return to Rate is a testament to the company’s industry-leading platform, progressive AI technology, and end-to-end support system—one that empowers LOs to significantly grow their businesses.

    “Providing an exceptional customer experience is my top priority. Aligning with Rate allows me to put families in the best position to win homes and makes the mortgage process faster and easier than ever,” said Franquemont. “The combination of Rate’s streamlined processes, cutting-edge technology, and talented personnel create the ideal environment to support my customers on their homeownership journey. Rate absolutely stands apart from the competition in its ability to provide this superior experience.”

    Franquemont’s return underscores the competitive advantage Rate offers to top producers. LOs at Rate consistently outperform industry benchmarks.

    “We’re thrilled to welcome Chris back to Rate. With his incredible track record in the Denver market, Chris is a valuable addition to our team,” said Victor Ciardelli, CEO of Rate. “We’re excited to support his current business and work alongside him to expand his reach, serving both his customers and referral partners with the highest caliber of service in the industry.”

    Rate has consistently attracted and retained top-producing LOs by offering a proven framework for exponential growth that competitors struggle to match. The company’s advanced AI-driven technology, comprehensive infrastructure, and national footprint provide unparalleled advantages, reaffirming that when it comes to long-term success, top producers choose Rate.

    About Rate

    Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, Rate is the #2 retail mortgage lender in the U.S., with over 850 branches across all 50 states and Washington, D.C. Since its launch in 2000, Rate has helped more than 2 million homeowners with home purchase loans and refinances. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates, and delivering unparalleled customer service.

    Honors and awards include:
    Best Mortgage Lender for First-Time Homebuyers by NerdWallet (2023)
    HousingWire’s Tech100 award for FlashClose℠ (2020), MyAccount (2022), and Language Access Program (2023)
    #2 ranking in Scotsman Guide’s 2022 list of Top Retail Mortgage Lenders
    Most Scotsman Guide Top Originators for 11 consecutive years
    Chicago Agent Magazine’s Lender of the Year for seven consecutive years
    Chicago Tribune’s Top Workplaces list for seven straight years

    Visit rate.com for more information.

    Press Contact

    press@rate.com

    The MIL Network –

  • MIL-OSI: Ashtrom Renewable Energy Announces Power Purchase Agreement (PPA) with CPS Energy for El Patrimonio Solar Project in Texas

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, Feb. 19, 2025 (GLOBE NEWSWIRE) — Ashtrom Renewable Energy, a global independent power producer and renewable energy developer and subsidiary of Ashtrom Group, has signed a Power Purchase Agreement (PPA) to sell electricity to the municipality of San Antonio, Texas through CPS Energy, the city’s local utility company.

    According to the signed agreement, CPS Energy (Aa2 Moody’s) will purchase approximately 70% of the electricity produced by the project, along with purchasing green certificates (RECs), for a period of 20 years at a predetermined fixed price. Under the agreement, Ashtrom has committed to achieve the commercial operation of the El Patrimonio project by the second half of 2027. The remaining electricity produced by the project is expected to be sold within Texas’s open electricity market. The project will produce electricity equivalent to the annual consumption for about 37,500 households.

    “We are proud to announce a significant collaboration and the signing of an important agreement with CPS Energy, the largest municipal utility company in the U.S.,” said Yitsik Mermelstein, CEO of Ashtrom Renewable Energy. “The agreement is not only an expression of our great partnership with CPS Energy, but also a central pillar in realizing our strategic vision to expand renewable energy activities in the country. This step strengthens our position as a leading player in the industry and is a significant milestone in the company’s growth journey.”

    El Patrimonio is Ashtrom’s second solar project in Texas, marking a key achievement for the company that further deepens its presence in the ERCOT market. The completion of the PPA is expected to accelerate the project’s development and construction processes. The solar project is expected to be constructed in Bexar County, Texas, with a planned capacity of approximately 150 megawatts (AC).

    In addition to delivering electricity to San Antonio, the El Patrimonio project will support the local economy and community through educational activities. Ashtrom will establish an annual scholarship program, offer field tours of the El Patrimonio site for local students, and host job fairs on-site. Through these efforts, Ashtrom aims to enhance community knowledge of renewable energy and the role people can play in its future.

    About Ashtrom Renewable Energy

    Ashtrom Renewable Energy is delivering clean energy at scale. We build best-in-class renewable energy projects in the United States and around the globe. With a hands-on, risk-informed approach that emphasizes strategic and cost-effective execution, the company is an independent power producer (IPP) led by a team of energy experts with decades of experience in solar and wind siting, development, construction, financing, and operation. Ashtrom Renewable Energy leverages the financial stability and culture of excellence cultivated by Ashtrom Group (TASE: ASHG), a leading infrastructure, construction, and real estate development company with a 60-year legacy of success. With a development pipeline of ~1.8 GWdc in the U.S. and ~2.5 GWdc worldwide, Ashtrom Renewable Energy is poised to rapidly scale its development and investment activities in the U.S. market for the long term. Learn more about Ashtrom Renewable Energy at https://www.ashtromrenewableenergy.co.il/en

    About Ashtrom Group 
    Ashtrom is one of Israel’s leading construction and real estate companies whose shares are traded on the Tel Aviv Stock Exchange 90 index The group operates in several operating sectors: Construction and infrastructure contracting in Israel – including, inter alia, residential and infrastructural contract constructions; Franchise – participation in tenders and executing planning, operations and financing activities for large-scale infrastructure and residential projects; Housing entrepreneurship in Israel, through Ashdar, a subsidiary that is a leader and among the oldest companies in the field; Investment and entrepreneurial real estate, through Ashtrom Properties, a subsidiary operating in Israel, Germany and England, holding and managing shopping malls and commercial centers, office buildings and employment centers, industrial structures and more; Industries – mainly manufacturing, marketing and selling raw materials to the construction industry and importing and marketing finishing products for the construction industry; Construction and infrastructures contracting abroad, as well as residential real estate development in the U.S. and Europe – performed by Ashtrom International; Renewable energy – investment in wind, solar, storage and other energy related projects in Israel and worldwide. Ashtrom Group chairperson is Mr. Rami Nussbaum, and the group’s CEO is Mr. Gil Gueron.

    Media Contact
    Nic Savo
    nic@teamsilverline.com

    The MIL Network –

  • MIL-OSI: Ataccama and Concord Partner to Accelerate Data Modernization in Regulated Industries

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, Feb. 19, 2025 (GLOBE NEWSWIRE) — Ataccama, the data trust company, today announced a strategic partnership with Concord USA, LLC (“Concord”), a leading technology consultancy, to tackle the complex challenges of data modernization in highly regulated industries. This partnership builds on Ataccama’s Solution Partner Program to support joint enterprise clients to accelerate data-driven digital transformation and deliver measurable business value.

    Many organizations struggle to achieve high-quality, trusted data due to siloes created by legacy systems and fragmented data environments. This creates unstructured, inconsistent data that complicates analytics. These issues are magnified in highly regulated sectors like healthcare and financial services where inaccuracies can have costly—even critical—consequences. For example, healthcare requires 99.9% data accuracy to support confident decision-making and meet stringent regulatory standards, far exceeding the 80% threshold acceptable in other industries.

    Ataccama’s unified data trust platform tackles these challenges by enabling organizations to catalog and classify their data, giving them clarity on its health and origin, and allowing them to improve the quality of their data by fixing all identified issues. With data cleansed, standardized, and consolidated into a single, trusted source of truth, organizations are empowered to make informed, compliant decisions and drive meaningful outcomes.

    Concord brings a proven track record in healthcare and financial services, specializing in digital transformation and seamless data migration for Fortune 500 clients. Together, Ataccama and Concord help organizations modernize data ecosystems, and achieve digital transformation with the confidence that comes from trusted, high-quality data.

    “Healthcare and insurance organizations face some of the most complex data challenges, from fragmented legacy systems to meeting stringent regulatory requirements,” said Florin Ibrani, Chief Executive Officer at Concord. “Our partnership with Ataccama better enables highly-regulated organizations to future-proof their data infrastructure and achieve the data accuracy and availability required to advance their modernization goals confidently.”

    “Data trust is non-negotiable in healthcare and insurance—where inaccuracies can have costly, even critical, consequences,” said Jessica Goulart, vice president of Partnerships at Ataccama. “Our solution partner program supports consultancies and system integrators to provide the implementation services to support our joint clients to implement the Ataccama unified data trust platform for data quality, catalog, lineage, observability and master data management. Through our partnership with Concord, we help organizations overcome their regulated industry challenges and advance their digital transformation initiatives to drive success.”

    For more information about the Ataccama Partner Program, visit the Ataccama Partner Hub.

    About Ataccama
    Ataccama is the data trust company. Organizations worldwide rely on Ataccama ONE, the unified data trust platform, to ensure data is accurate, accessible, and actionable. By integrating data quality, lineage, observability, governance, and master data management into a single solution, Ataccama enables businesses to unlock value from their data for AI, analytics, and operations. Trusted by hundreds of global enterprises, Ataccama helps organizations drive innovation, reduce costs, and mitigate risk. Recognized as a Leader in the 2024 Gartner Magic Quadrant for Augmented Data Quality and the 2025 Magic Quadrant for Data and Analytics Governance, Ataccama continues to set the standard for trusted data at scale. Learn more at www.ataccama.com.

    About Concord
    Concord USA, LLC (“Concord”) is a next-generation technology consultancy focused on experience, data, and cloud engineering & modernization. Based in Minneapolis, Minnesota, with supporting operations across the United States, Latin America, Eastern Europe, and India, Concord serves leading enterprises and innovators in the healthcare, technology, consumer, manufacturing, distribution, and financial services industries. With a unique combination of industry expertise, technology know-how, and project execution reliability, Concord helps customers unlock business value by solving their most difficult data and technology problems. For more information, visit concordusa.com.

    The MIL Network –

  • MIL-OSI Global: Climate change is threatening Lake Ontario — lessons from the Little Ice Age show us why we need to adapt

    Source: The Conversation – Canada – By Daniel Macfarlane, Associate Professor of Environment and Sustainability, Western Michigan University

    Humans have always had a close connection with Lake Ontario. For centuries, this Great Lake has been a backbone of the region’s economy — relied upon for trade, food and industry. But a warming climate could dramatically change this relationship.

    This wouldn’t be the first time climate change has affected how humans use this Great Lake, as I show in my new book The Lives of Lake Ontario: An Environmental History. During the Little Ice Age, which spanned roughly the 14th to 19th centuries, Indigenous and settler societies had to adapt to the cooling Lake Ontario environment.

    As we again face a changing climate, the way our predecessors adapted during the Little Ice Age teaches us why it’s necessary we change how we use and interact with Lake Ontario today.

    The Little Ice Age

    Prior to the onset of the Little Ice Age, the Lake Ontario region was occupied exclusively by different Indigenous Peoples — including the Haudenosaunee and Anishinaabeg. These groups regularly came to Lake Ontario to hunt, harvest and trade. They were highly attuned to local climate conditions, adapting their agricultural strategies accordingly.

    But the Little Ice Age altered the climate in the region — with average temperatures about 1-2°C lower than normal. I argue in my book that the impact this period’s climate had on the environment and those living in the region helped change the course of empires in North America — both Indigenous and Euro-American.

    This cooler climate led to seasonal unpredictability. This forced the region’s various occupants to adjust their resource and food acquisition strategies. A higher frequency of summer droughts could mean failed crops — while extremely heavy snows made it harder to hunt. These factors may have contributed to the severe decline of Indigenous populations in the region.

    The origins of the fur trade — which dramatically reorganized society and altered political power in the Great Lakes region — are also at least partly attributable to the Little Ice Age. The cooler climate drove the desire for fur in Europe while also affecting the pelt thickness of North American animals.

    The climate during the Little Ice Age also influenced various military campaigns due to its effects on the region’s weather and the lake’s conditions.

    During the War of 1812, for instance, two American warships sank in a sudden summer squall north of Port Dalhousie. A lack of appreciation for the lake’s capriciousness could mean disaster — while those commanders who respected the local environment had the upper hand.

    Agriculture

    But alongside the challenges this cooling climate created, it also provided new opportunities.

    As I contend in my book, climate changes during the period encouraged the diversification of agriculture and food production — such as the cultivation of wheat strains hardy enough to survive cooler conditions. Settlers also believed the mass conversion of forests and wetlands to fields could modify the climate, making it warmer. The influx of settlers reliant on these new types of agriculture fundamentally shaped the emerging political and economic systems around Lake Ontario.

    Heavier ice cover on Lake Ontario actually made winter transportation easier in some ways.

    Temperatures during the Little Ice Age frequently caused a thick freeze in the lake’s nearshore waters. This enabled alternative forms of wintertime travel which were generally cheaper, more flexible, and more dependable than travelling by boat. Skates, sleighs and iceboats were developed for both economic and recreational needs.

    As the Little Ice Age began releasing its grip during the 19th century, Euro-Americans moved to the Lake Ontario basin in larger numbers. This climatic shift proved integral to settler expansion.

    Ice on Lake Ontario enabled cheaper forms of travel.
    (William Armstrong, Public domain/Wikimedia Commons)

    Resilient yet fragile

    The Toronto region could not have become Canada’s economic and cultural capital without the resources of Lake Ontario.

    But all this economic and political growth has come at a tremendous cost. Lake Ontario is now imperilled because of the way we’ve come to rely on it.

    In the 19th century, we cut down forests, dammed and polluted tributaries, dug canals and obliterated fish species in the region.

    In the 20th century, our impacts only expanded: overwhelming pollution, invasive species, urban sprawl, larger canals and hydroelectric dams. These human costs have led to nutrient overloads in the water from wastewater and farming runoff, impoverished biodiversity, fluctuating water levels, toxic chemicals and plastics in the lake.

    This ongoing degradation — coupled with climate change exacerbating ecological challenges and creating new ones — is further undercutting Lake Ontario’s ability to cope with our many abuses.

    A hotter lake could alter the entire food web, which could have ripple effects on local species, energy flows and biodiversity.

    The changing climate is also causing extreme fluctuations in lake levels. Recent record-high levels eroded shorelines — affecting houses and infrastructure while threatening septic systems, nuclear power stations and fuel refineries.

    Resilience

    We’re lucky that Lake Ontario is remarkably resilient. But the lake is being pushed to the brink. We have a small window to both adapt to the already changing climate and prevent it from changing further.

    Of course, the Little Ice Age involved the climate getting cooler, while today it’s getting warmer — with humanity being the primary driver for this changing climate. In the face of climate change, we too can adapt how we use and interact with the lake — just as was done in the Little Ice Age.

    But our response nowadays needs to be as much about stopping old practices as starting new ones. We need to cease contributing to global warming and other negative impacts on Lake Ontario through our unsustainable industry, flawed economic systems and overconsumption, massive pollution and reliance on fossil fuels.

    Daniel Macfarlane 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. Climate change is threatening Lake Ontario — lessons from the Little Ice Age show us why we need to adapt – https://theconversation.com/climate-change-is-threatening-lake-ontario-lessons-from-the-little-ice-age-show-us-why-we-need-to-adapt-246292

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Latest Council Budget plans include £5m boost for neighbourhoods

    Source: City of Manchester

    Manchester City Council is set to invest around £5 million extra funding to keep neighbourhoods clean, green and tidy. 

    The move, proposed in newly-published reports about the Council’s 2025/26 budget to be considered at its Executive meeting on 19 February, will be funded from Manchester’s £5.4 million share of a rebate to councils from Greater Manchester Combined Authority’s waste reserve which was announced last week.  

    The extra funding, to be spent over three years, will be used to improve and support the upkeep of neighbourhoods across the city. In the council’s recent budget consultation this was the top priority identified by residents – with 77.5% of residents putting it among the issues which mattered the most to them.  

    £4.6 million of the extra funding will be invested to boost services to keep neighbourhoods clean, including cleaning, combatting flytipping, maintenance of green spaces and leaf collection. 

    A further £400,000 will be used to overturn a decision taken last year to start charging for replacement recycling bins which would have applied from this April.  

    The remainder will be invested in other neighbourhood priorities including an extra £338,000 towards improved enforcement to tackle damp and mould in private rented sector properties.  

    While significant challenges remain, the Council’s position has improved since planning for its 2025/26 budget began in spring 2024. At that point the then Government had indicated there would be real terms funding cuts for local government which, together with emerging pressures, would have required deep cuts.  

    The incoming Government’s Autumn Statement reversed this position with a real terms increase in Core Spending Power instead. The Government’s financial settlement for the Council, which it received just before Christmas, was better than expected with a number of increases, especially in recognition of the nationwide pressures in social care. Manchester’s Core Spending Power increase of 10.4% is the highest nationally, reflecting a ministerial decision to direct resources to places with high deprivation levels and low council taxbases which had been the hardest hit since 2010. 

    This has meant that while £18.2m of savings from previously published savings identified for 2025/26 are required, the Council will be able to set a balanced budget for 2025/26 which also takes account of ongoing pressures. The savings relate to efficiencies and increased income generation not service reductions.  

    The budget assumes a 4.99% increase in the Council’s element of Council Tax, 2% of which is specifically to support adult social care.  

    Council Leader Cllr Bev Craig said: “We are still dealing with the brutal legacy of 14 years of austerity and cuts to our funding under the previous Government, and that can’t be turned around overnight.  

    “But the improved funding under the current Government, which recognises this legacy, is a step in the right direction. Together with our careful planning, it means we’re able to bring forward a budget which looks to make lives better and improve the city.”  

    Councillor Rabnawaz Akbar, Executive Member for Finance, said: “Residents told us loud and clear in our recent budget consultation that keeping neighbourhoods clean was their top priority and we have responded to that with this extra investment. 

    “We are pleased to be in a position where can deliver a budget that works for Manchester people.”  

    MIL OSI United Kingdom –

  • MIL-OSI: Dave to Host Fourth Quarter and Full Year 2024 Results Conference Call on March 4, 2025 at 8:30 a.m. ET

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, Feb. 19, 2025 (GLOBE NEWSWIRE) — Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation’s leading neobanks, will host a conference call on Tuesday, March 4, 2025 at 8:30 a.m. Eastern time to discuss its financial results for the fourth quarter and full year ended December 31, 2024. The Company’s results will be reported in a press release after market close on the day prior to the conference call.

    Dave management will host the conference call, followed by a question-and-answer period. The conference call details are as follows:

    Date: Tuesday, March 4, 2025
    Time: 8:30 a.m. Eastern time
    Dial-in registration link: here
    Live webcast registration link: here

    The conference call will also be available for replay in the Events section of the Company’s website, along with the transcript, at https://investors.dave.com.

    If you have any difficulty registering for or connecting to the conference call, please contact Elevate IR at DAVE@elevate-ir.com.

    About Dave

    Dave (Nasdaq: DAVE) is a leading U.S. neobank and fintech pioneer serving millions of everyday Americans. Dave uses disruptive technologies to provide best-in-class banking services at a fraction of the price of incumbents. Dave partners with Evolve Bank & Trust, a FDIC member. For more information about the company, visit: www.dave.com. For investor information and updates, visit: investors.dave.com and follow @davebanking on X.

    Investor Relations Contact

    Sean Mansouri, CFA
    Elevate IR
    DAVE@elevate-ir.com

    Media Contact

    Dan Ury
    press@dave.com

    The MIL Network –

  • MIL-OSI: Inuvo to Host Fourth Quarter and Year End 2024 Financial Results Conference Call on Thursday, February 27th at 4:15 P.M. EST

    Source: GlobeNewswire (MIL-OSI)

    LITTLE ROCK, Ark., Feb. 19, 2025 (GLOBE NEWSWIRE) — Inuvo, Inc. (NYSE American: INUV), a leading provider of intelligent advertising technology, will host a conference call on Thursday, February 27, 2025, at 4:15 PM Eastern Standard Time to discuss its financial results and provide a business update for the fourth quarter and year-end 2024.

    Conference Call Details: 
    Date: Thursday, February 27, 2025
    Time: 4:15 p.m. Eastern Standard Time 
    Toll-free Dial-in Number: 1-800-717-1738
    International Dial-in Number: 1-646-307-1865
    Conference ID: 11158080
    Webcast Link: HERE

    A telephone replay will be available through Thursday, March 13, 2025. To access the replay, please dial 1- 844-512-2921 (domestic) or 1-412-317-6671 (international). At the system prompt, please enter the code 11158080 followed by the # sign. You will then be prompted for your name, company, and phone number. Playback will then automatically begin.

    About Inuvo

    Inuvo®, Inc. (NYSE American: INUV) is a market leader in Artificial Intelligence built for advertising. Its IntentKey AI solution is a first-of-its-kind proprietary and patented technology capable of identifying and actioning to the reasons why consumers are interested in products, services, or brands, not who those consumers are. To learn more, visit www.inuvo.com.

    Safe Harbor / Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Inuvo’s quarter-end financial close process and preparation of financial statements for the quarter that are subject to risks and uncertainties that could cause results to be materially different than expectations. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, without limitation risks detailed from time to time in our filings with the Securities and Exchange Commission (the “SEC”), and represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in Inuvo, Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 as filed on February 29, 2024, and our other filings with the SEC. Additionally, forward looking statements are subject to certain risks, trends, and uncertainties including the continued impact of Covid-19 on Inuvo’s business and operations. Inuvo cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct. Should one of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements, and investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Inuvo does not intend to update or revise any forward-looking statements made herein or any other forward-looking statements as a result of new information, future events or otherwise. Inuvo further expressly disclaims any written or oral statements made by a third-party regarding the subject matter of this press release. The information which appears on our websites and our social media platforms is not part of this press release.

    Inuvo Company Contact:
    Wally Ruiz
    Chief Financial Officer
    Tel (501) 205-8397
    wallace.ruiz@inuvo.com

    Investor Relations :
    David Waldman / Natalya Rudman
    Crescendo Communications, LLC
    Tel: (212) 671-1020
    inuv@crescendo-ir.com  

    The MIL Network –

  • MIL-OSI: Top KingWin Ltd Announces $1,000,000 Convertible Promissory Note Offering and Up to $28,500,000 Additional Note Offering

    Source: GlobeNewswire (MIL-OSI)

    Shenzhen, China, Feb. 19, 2025 (GLOBE NEWSWIRE) — Top KingWin Ltd (“Top KingWin” or the “Company”) (Nasdaq: WAI) today announced that on February 18, 2025, it entered into a securities purchase agreement (the “SPA”) to issue a convertible note in the original principal amount of $1,000,000 (the “Note”) to an institutional investor (the “Purchaser”), convertible into its class A ordinary shares, par value of $0.0001 per share (the “Ordinary Shares”), for gross proceeds of $900,000 (the “Offering”).

    R.F. Lafferty & Co., Inc. acted as the Company’s exclusive placement agent for this Offering.

    The Note bears interest at a rate of 11.75% per annum, subject to adjustment from time to time in accordance with the terms of the Note. All outstanding principal and accrued interest on the Note will become due and payable twelve months after the issuance of the Note (“Issuance Date”), and the Purchaser has the option to extend the maturity term for another twenty-four months upon mutual agreement of the Company and the Purchaser. The Note includes an original issue discount of 10%. The Company may not prepay any portion of the outstanding principal, accrued and unpaid interest or accrued and unpaid late charges on principal and interest, if any. At any time after the Issuance Date, the Note is convertible into validly issued, fully paid and non-assessable Ordinary Shares, on the terms and conditions set forth in the Note. Upon the occurrence of an Event of Default, as defined in the Note, the Purchaser may require the Company to redeem all or any portion of the Note by delivering written notice thereof.

    The Note will be issued to the Purchaser upon satisfaction of all closing conditions. The issuance of the Ordinary Shares issuable upon conversion of the Notes is pursuant to a shelf registration statement on Form F-3, as amended (File No. 333-283030), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 13, 2024.

    Subject to the terms and conditions set forth in the SPA, the Purchaser and the Company plan to participate in seven additional tranches of closings for the purchase by such Purchaser, and the sale by the Company, including (i) six tranches of a Note (or Notes) in an aggregate original principal amount of up to $4,000,000 each, and (ii) one tranche of a Note (or Notes) in an aggregate original principal amount of up to $4,500,000, as set forth in the Schedule of Buyers to the SPA, with the aggregate original principal amount of these additional closings up to $28,500,000.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Top KingWin Ltd

    Top KingWin’s main clients are entrepreneurs and executives in small and medium-sized enterprises in China. Services provided by Top KingWin to its clients including (i) corporate business training services, which mainly focus on providing training services of advanced knowledge and new perspectives on the capital markets, (ii) corporate consulting services, which mainly focus on providing a combination of customized corporate consulting services to fulfill client’s unique financial needs, and (iii) advisory and transaction services, which mainly focus on connecting entrepreneurs and businesses with diversified sources of capital. Its mission is to provide comprehensive services to address clients’ needs throughout all phases of their development and growth.

    Forward-Looking Statements

    This press release contains forward-looking statements. All statements other than statements of historical fact in this press release are forward-looking statements, including but not limited to, the use of proceeds from the Company’s offering, the intent, belief or current expectations of Top KingWin and members of its management, as well as the assumptions on which such statements are based. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.

    For more information, please contact:

    Bonnie

    Email: IR@tcjhgw.cn

    The MIL Network –

  • MIL-OSI: John Levene to Join Clear Street

    Source: GlobeNewswire (MIL-OSI)

    Goldman Sachs Alum Marks Latest Addition to Leadership Bench at Clear Street

    NEW YORK, Feb. 19, 2025 (GLOBE NEWSWIRE) — Clear Street (“Clear Street”, “the Company”), a cloud-native financial technology firm on a mission to modernize the brokerage ecosystem, today announced that John Levene will join the firm in the role of Head of Institutional, which oversees the firm’s Prime Brokerage business, this Spring.

    Levene joins Clear Street having spent over 25 years at Goldman Sachs, where he was a Partner for the last 14 years. During Levene’s time as Partner, he was a leader in the client service space and served as the Head of Global Banking and Markets Client Experience, Co-Head of Prime Services Client Experience and Head of Americas Prime Brokerage Client Franchise. He was responsible for developing Goldman’s digital service capabilities, consultancy offerings and new business support. Prior to joining Goldman, Levene worked at Salomon Brothers and Hambros Bank (now part of Société Générale).

    In his new role, Levene will head Clear Street’s Prime Brokerage business, leveraging his deep expertise in building and managing prime brokerage platforms across the capital markets.

    Edward Tilly, CEO of Clear Street, stated, “We welcome John to his new role, where his industry expertise and strategic mindset will be instrumental in advancing our mission to provide best-in-class technology and client service. He is a fantastic addition to our senior team, where his proven leadership across all facets of prime brokerage adds another layer of excellence to the organization. We are excited for the impact John will make as we continue to build the future of Clear Street.”

    About Clear Street:

    Clear Street is modernizing the brokerage ecosystem with financial technology and services that empower market participants with real-time data and best-in-class products, tools and teams, to navigate capital markets around the world. Complemented by white-glove service, Clear Street’s cloud-native, proprietary product suite delivers financing, derivatives, execution and more to power client success, adding efficiency to the market and enabling clients to minimize risk, redundancy and cost. Clear Street’s goal is to create a single platform for every asset class, in every country and in any currency. For more information, visit https://clearstreet.io.

    Contact:

    press@clearstreet.io

    The MIL Network –

  • MIL-OSI: Gevo to Report Fourth Quarter 2024 Financial Results on March 6, 2025

    Source: GlobeNewswire (MIL-OSI)

    ENGLEWOOD, Colo., Feb. 19, 2025 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) announced today that it will host a conference call on March 6, 2025, at 4:30 p.m. ET (2:30 p.m. MT) to report its financial results for the fourth quarter ended December 31, 2024.

    To participate in the live call, please register through the following event weblink:
    https://register.vevent.com/register/BIfe02700a31384d12946e60bf35964cb8

    After registering, participants will be provided with a dial-in number and pin.

    To listen to the conference call (audio only), please register through the following event weblink: https://edge.media-server.com/mmc/p/h9wkbjf5

    A webcast replay will be available two hours after the conference call ends on March 6, 2025. The archived webcast will be available in the Investor Relations section of Gevo’s website at www.gevo.com.

    About Gevo
    Gevo is a next-generation diversified energy company committed to fueling America’s future with cost-effective, drop-in fuels that contribute to energy security, abate carbon, and strengthen rural communities to drive economic growth. Gevo’s innovative technology can be used to make a variety of renewable products, including sustainable aviation fuel (“SAF”), motor fuels, chemicals, and other materials that provide U.S.-made solutions. By investing in the backbone of rural America, Gevo’s business model includes developing, financing, and operating production facilities that create jobs and revitalize communities. Gevo owns and operates one of the largest dairy-based renewable natural gas (“RNG”) facilities in the United States, turning by-products into clean, reliable energy. We also operate an ethanol plant with an adjacent carbon capture and sequestration (“CCS”) facility, further solidifying America’s leadership in energy innovation. Additionally, Gevo owns the world’s first production facility for specialty alcohol-to-jet (“ATJ”) fuels and chemicals. Gevo’s market-driven “pay for performance” approach regarding carbon and other sustainability attributes, helps ensure value is delivered to our local economy. Through its Verity subsidiary, Gevo provides transparency, accountability, and efficiency in tracking, measuring and verifying various attributes throughout the supply chain. By strengthening rural economies, Gevo is working to secure a self-sufficient future and to make sure value is brought to the market.

    For more information, see www.gevo.com.

    PUBLIC AFFAIRS CONTACT
    Heather Manuel
    VP of Stakeholder Engagement & Partnerships
    PR@gevo.com

    INVESTOR CONTACT
    Eric Frey, PhD
    VP of Corporate Development
    IR@gevo.com

    The MIL Network –

  • MIL-OSI: Asset Entities Inc. Regains Compliance with Nasdaq Listing Rule 5550(b)(1)

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Feb. 19, 2025 (GLOBE NEWSWIRE) — Asset Entities Inc. (“Asset Entities” or the “Company”) (NASDAQ: ASST), a provider of digital marketing and content delivery services across Discord, TikTok, and other social media platforms, and a Ternary Payment Platform company, today announced that it has regained compliance with Nasdaq Listing Rule 5550(b)(1), which requires minimum stockholders’ equity of $2.5 million.

    On February 18, 2025, the staff (the “Staff”) of the Listing Qualifications department of The Nasdaq Stock Market LLC (“Nasdaq”) notified the Company that based on the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 14, 2025, the Staff has determined that the Company complies with Listing Rule 5550(b)(1). The Staff further advised the Company that if the Company fails to evidence compliance upon filing its periodic report for the period ending March 31, 2025, it may be subject to delisting. Asset Entities expects that its stockholder’s equity will be at least $2.5 million as of March 31, 2025, as required by the Staff in its February 18, 2025, letter.

    On August 21, 2024, the Staff notified the Company that it did not comply with the minimum $2.5 million stockholders’ equity requirement for companies listed on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1). In response, the Company took immediate steps to fully comply by aggressively working to improve its financial strength and operations. These efforts included ongoing cost reduction initiatives, raising additional capital for future acquisitions and operations, and implementing and utilizing its at-the-market offering, which resulted in Asset Entities exceeding the $2,500,000 stockholders’ equity requirement.

    Arshia Sarkhani, CEO of Asset Entities, stated: “We are pleased that the Company successfully implemented a plan to regain compliance and meet the equity requirement, and is continuing to execute that plan going forward. Our team is committed to staying on course and ensuring continued regulatory compliance. As stated previously, our goal is to ensure that we continue our expansion and further development of our Discord, TikTok, and social media services, as well as expand our presence in the TikTok Shop space as a new TikTok Shop Partner. We are strongly encouraged by the significant increase in revenues over the last year, and we expect that trend will continue to grow with the anticipated future acquisitions and the new AE.360.DDM contracts.”

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

    About Asset Entities Inc.

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

    Important Cautions Regarding Forward-Looking Statements

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

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

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

    The MIL Network –

  • MIL-OSI: Momnt Partners with ChargeAfter to Expand Financing Options for Contractors

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 19, 2025 (GLOBE NEWSWIRE) — Momnt, a leading fintech company specializing in real-time lending and payment solutions, has partnered with ChargeAfter, the embedded lending platform for point-of-sale financing, to provide home improvement contractors with a broader range of competitive lending options for their customers.

    This partnership enables home improvement contractors using the ChargeAfter platform to offer Momnt’s diverse loan product selection to their customers, leading to increased approval rates and customer satisfaction.

     “This partnership with ChargeAfter is a significant step in enhancing the financing options available to home improvement contractors,” said Chris Bracken, CEO of Momnt. “By integrating with ChargeAfter’s platform, we can provide contractors access to a wider range of competitive financing options, ultimately driving higher conversion rates and increased sales.”

    Contractors leverage ChargeAfter’s platform to seamlessly connect to a network of lenders, and provide personalized financing options that meet diverse customer credit needs. With a single application, ChargeAfter’s waterfall technology instantly matches customers with the best-fit financing choices. This streamlined approach simplifies the financing process for both contractors and customers, which is particularly important for in-home service, where a secure and seamless experience helps create a comfortable interaction.

    “We are thrilled to welcome Momnt to our network further expanding financing opportunities for home improvement contractors and their customers,” said Meidad Sharon, CEO of ChargeAfter. “This partnership will enable merchants to offer competitive prime lending solutions, making home improvement projects more accessible for homeowners. With ChargeAfter’s simple and easy-to-use user experience, post-sale capabilities, and advanced analytics, contractors can seamlessly manage the financing process while maximizing customer approval rates and sales potential.”

    Momnt’s technology seamlessly integrates with ChargeAfter’s platform, offering homeowners access to a variety of flexible financing options that can be viewed without impacting their credit score.

    About ChargeAfter

    ChargeAfter is pioneering the embedded lending network for point-of-sale consumer financing for merchants and financial institutions. Powered by a network of lenders and a data-driven matching engine, ChargeAfter streamlines the distribution of credit into a single, secure, and reliable embedded lending platform. Merchants can rapidly implement ChargeAfter’s omnichannel platform online, in-store, and at every point of sale, enabling them to provide personalized financing choices to their customers. ChargeAfter is backed by investors including Visa, Citi Ventures, Synchrony Financial, Banco Bradesco, MUFG, and more. Users can learn more at chargeafter.com.

    About Momnt

    Momnt is a state-of-the-art financial services technology platform that revolutionizes how merchants offer financing. Through Momnt’s embedded lending solution, businesses can effortlessly provide customers with simple, fast, and affordable financing options, all delivered through a seamless process. Momnt drives growth for merchants, extends personalized financing to consumers, and generates new revenue sources for financial institutions. Users can visit momnt.com to learn more.

    Contact

    Director of Marketing
    Varda Bachrach
    ChargeAfter
    varda.bachrach@chargeafter.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2d1bc6b4-da48-4057-a8ab-517299022b33

    The MIL Network –

  • MIL-OSI: American Rebel Light Beer Continues Rapid Expansion of National Distribution Footprint adding Iowa’s Mahaska Bottling Company

    Source: GlobeNewswire (MIL-OSI)

    American Rebel Light to be served at Knoxville Raceway the “Sprint Car Capital of the World” and the Dingus Lounge “Iowa’s Most Notorious Bar”

    Nashville, TN, Feb. 19, 2025 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), creator of American Rebel Beer (americanrebelbeer.com) and a designer, manufacturer, and marketer of branded safes, personal security and self-defense products and apparel (americanrebel.com), proudly announces its strategic expansion into Iowa through a partnership with Mahaska Bottling Company (mahaska.com). This move is a significant milestone in the Company’s broader Midwest growth strategy, underscoring Iowa’s pivotal role as a key market in American Rebel’s regional expansion.

    “I had a hunting show, Maximum Archery World Tour, on television for ten years. I bowhunted all over the world, but in Iowa I’ve met some of the most passionate hunters and outdoorsmen I’ve ever met. I’ve done several “meet and greets” at the Iowa Deer Classic in Des Moines over the years and it was always a lot of fun and great to meet everyone there. Getting American Rebel Light Beer distributed throughout the state of Iowa really means a lot to me,” said American Rebel CEO Andy Ross.

    Powerful Iowa Distribution Partnership – Mahaska Bottling Company and Rebel Light

    Founded in 1889, Mahaska Bottling Company boasts a rich history of providing high-quality beverage distribution services across Iowa. Their extensive network and dedication to customer satisfaction make them an ideal partner for American Rebel Beer.

    The agreement with Mahaska Bottling Company will allow American Rebel Light Beer to captivate a broader audience in Iowa, introducing its Premium Light Lager to beer enthusiasts across the region. This partnership aims to provide a seamless distribution network, ensuring American Rebel Light Beer is available in local bars, restaurants, and retail outlets. “We are very excited to bring American Rebel Light to our valued customers in the State of Iowa,” said Chad Irving, Chief Marketing Officer of Mahaska Bottling Company.

    “We are thrilled to partner with Mahaska Bottling Company to bring American Rebel Light Beer to Iowa,” said Todd Porter, President of American Rebel Beverages. “This collaboration allows us to serve the patriotic consumers in Iowa who are looking for a clean, natural, and great-tasting light beer that embodies the values of our great nation.”

    Launch Events to bring American Rebel Light Beer to Iowa’s Best Venues

    American Rebel Beer will host a series of exciting events, including beer tastings, live music performances, and promotional giveaways. The festivities will kick off this Spring and run through the Fall, offering a perfect opportunity for the community to come together and enjoy America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, STAND YOUR GROUND BEER!

    American Rebel Light will be anchored by two legendary Iowa establishments:

    “The Knoxville Raceway and the Dingus Lounge will put Rebel Light on the map in Iowa right out of the box,” said American Rebel CEO Andy Ross. “And Mahaska Bottling Company and our Rebel Light Street Team will carry our message throughout the rest of the state utilizing our Rebel Light nights in bars and restaurants across the state.

    The Knoxville Raceway is known as the “Sprint Car Capital of the World” and the home of the Knoxville Nationals, a premier sprint car racing event that draws tens of thousands of fans each year that was first held in 1961.

    “We have been looking forward to getting American Rebel Light in here for a while,” said Knoxville Raceway General Manager Jason Reed. “It’s a great fit for our audience. We love what American Rebel is doing in motor sports and we look forward to supporting them.”

    The Knoxville Raceway seats around 21,000, which is thought to be the fourth largest outdoor facility in Iowa behind the football stadiums of Iowa and Iowa State University and the Iowa Speedway. To promote American Rebel Light at the Raceway, entertainment events headlined by American Rebel CEO Andy Ross are in the works. American Rebel and Tony Stewart Racing will collaborate on further promotional value through the American Rebel sponsorship of the Tony Stewart Racing NHRA Funny Car driven by Matt Hagan and Tony Stewart’s love of sprint car racing and Tony’s suite at the Knoxville Raceway.

    “Iowa’s Most Notorious Bar”, the Dingus Lounge, is the ideal establishment to serve American Rebel Light. Owner AJ Mottet has expanded Dingus again and again. He now owns the entire block and during the Knoxville Nationals he’ll pack every square foot with patriotic race fans who love beer

    “Dingus Lounge is excited and proud to be a part of American Rebel Beer,” said AJ Mottet. “The World’s Best Racing Bar and our patrons stand for the same core values that American Rebel represents. Freedom has a price, that price is the sacrifice many men and women who gave everything for us to be the land of the free. Dingus and American Rebel Beer honor those who sacrificed. We honor them every day. It’s who we are.”

    “I LOVE THAT BAR,” said Andy Ross. “I would love to play at the Dingus Lounge during the Knoxville Nationals. That would be a great date to add to our tour this summer. It’s definitely our crowd and I think it would be a blast.”

    During the Thursday of a previous Knoxville Nationals Dingus claims it sold 10,700 cans of Busch Light alone. “We had a chain of employees handing cases right from the truck through the crowd, right into the bar tubs,” Mottet says. “If they can love the dirt in their track, then they can love the dive in their bar.”

    For more information about the launch events and American Rebel Beer, please visit (americanrebelbeer.com) or follow us on our social media platforms.

    About Mahaska Bottling Company

    Mahaska Bottling Company is a 7th generation family-owned bottling and distribution company that has been around for more than 135 years. From its early years at the dawn of the soft-drink industry, Mahaska has expanded its portfolio and added a multitude of product and service lines across non-alcoholic beverages, coffee, food, snacks, and beer.

    About American Rebel Light Beer

    Produced in partnership with AlcSource, American Rebel Light Beer (americanrebelbeer.com) is a premium domestic light lager celebrated for its exceptional quality and patriotic values. It stands out as America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand Your Ground Beer.

    American Rebel Light is a Premium Domestic Light Lager Beer – All Natural, Crisp, Clean and Bold Taste with a Lighter Feel. With approximately 100 calories, 3.2 carbohydrates, and 4.3% alcoholic content per 12 oz serving, American Rebel Light Beer delivers a lighter option for those who love great beer but prefer a more balanced lifestyle. It’s all natural with no added supplements and importantly does not use corn, rice, or other sweeteners typically found in mass produced beers.

    About American Rebel Holdings, Inc.

    American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Light Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit www.americanrebel.com and www.americanrebelbeer.com. For investor information, visit www.americanrebel.com/investor-relations.

    Media Inquiries:
    Matt Sheldon
    Matt@Precisionpr.co
    917-280-7329

    American Rebel Holdings, Inc.
    info@americanrebel.com

    American Rebel Beverages, LLC
    Todd Porter, President
    tporter@americanrebelbeer.com

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of marketing outreach efforts, actual placement timing and availability of American Rebel Beer, success and availability of the promotional activities, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Company Contact:
    tporter@americanrebelbeer.com
    info@americanrebel.com

    Attachment

    The MIL Network –

  • MIL-OSI: Compass Diversified Director James Bottiglieri Announces Retirement

    Source: GlobeNewswire (MIL-OSI)

    WESTPORT, Conn., Feb. 19, 2025 (GLOBE NEWSWIRE) — Compass Diversified Holdings (NYSE: CODI) (“CODI” or the “Company”), an owner of leading middle market businesses, announced today that current director James J. Bottiglieri (“Jim”) advised the Board of Directors (the “Board”) on February 14, 2025 that he plans to retire prior to the Company’s 2025 annual shareholders meeting (the “2025 Annual Meeting”). Mr. Bottiglieri will remain on the Company’s Board and as a member of each of the Company’s Nominating and Corporate Governance Committee and Audit Committee up and until the Company’s 2025 Annual Meeting. Mr. Bottiglieri joined the Board in December of 2005. He served as the Company’s Chief Financial Officer and as an Executive Vice President of the Company’s Manager from 2005 to 2013. The Company does not currently intend to fill the Board vacancy created by Mr. Bottiglieri’s retirement.

    Elias Sabo, CEO of CODI, commented: “It has been an absolute honor and privilege to work with Jim over the past 20 years. He has been a great leader, director, mentor, and friend. It is difficult to measure the many contributions Jim has made to our organization, beginning with our initial public offering in 2006. His accounting expertise and superior integrity were fundamental in establishing the groundwork we rely on today to ensure strong financial controls and provide transparency to our shareholders. On behalf of our entire organization, I want to express our sincere gratitude to Jim for his years of dedicated service and wish him all the best following his retirement.”

    Larry Enterline, Board Chair, added: “I am happy for Jim to have the opportunity to enjoy a well-earned retirement. Jim is a consummate professional and has worked collaboratively during his tenure to pass along his significant institutional knowledge and assist with the development of the next generation of Board leadership. Although Jim will be missed, his retirement is the culmination of a years-long strategy to refine CODI’s Board and recruit and retain a highly capable group of leaders who are well-equipped to oversee our business and represent the interests of our shareholders.”

    Jim Bottiglieri stated: “I am grateful for the opportunities I’ve been afforded during my tenure with CODI. Being able to support this unique organization through its transformational growth over the past 20 years has been a highlight of my career. At its core, CODI is an organization comprised of exceptional people and has many exciting opportunities for growth in the years ahead.”

    About Compass Diversified (“CODI”)

    Since its IPO in 2006, CODI has consistently executed its strategy of owning and managing a diverse set of highly defensible, middle-market businesses across the branded consumer, industrial, healthcare, and critical outsourced services sectors. The Company leverages its permanent capital base, long-term disciplined approach, and actionable expertise to maintain controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment and accountability. For more information, please visit compassdiversified.com.

    Forward Looking Statements

    This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with regard to the expectations related to the future performance of CODI. Words such as “believes,” “expects,” “will,” “anticipates,” “intends,” “continue,” “projects,” “potential,” “assuming,” and “future” or similar expressions, are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions, some of which are not currently known to CODI. In addition to factors previously disclosed in CODI’s reports filed with the SEC, the following factors, among others, could cause actual results to differ materially from forward-looking statements: changes in the economy, financial markets and political environment; risks associated with possible disruption in CODI’s operations or the economy generally due to terrorism, natural disasters, social, civil and political unrest or the COVID-19 pandemic; future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); general considerations associated with the COVID-19 pandemic and its impact on the markets in which we operate; and other considerations that may be disclosed from time to time in CODI’s publicly disseminated documents and filings. Further information regarding CODI and factors which could affect the forward-looking statements contained herein can be found in CODI’s annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Forward-looking statements speak only as of the date they are made. Except as required by law, CODI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    Investor Relations

    Compass Diversified
    irinquiry@compassdiversified.com

    Gateway Group
    Cody Slach
    949.574.3860
    CODI@gateway-grp.com

    Media Relations

    Compass Diversified
    mediainquiry@compassdiversified.com

    The IGB Group
    Leon Berman
    212.477.8438
    lberman@igbir.com

    The MIL Network –

  • MIL-OSI: Abacus Life Completes the Rebranding of FCF Advisors with New ETF and Fee Reductions

    Source: GlobeNewswire (MIL-OSI)

    ORLANDO, Fla., Feb. 19, 2025 (GLOBE NEWSWIRE) — Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a pioneering global alternative asset manager specializing in leveraging longevity data and actuarial technology to offer uncorrelated investment opportunities, today announces the rebranding of FCF Advisors to Abacus FCF Advisors, a subsidiary of ABL Wealth.

    This rebrand highlights the manager’s position as a leader in free cash flow investing and analytics by pioneering the FCF Leaders Model, which serves as the foundation for the firm’s quantitative investment process that identifies the most profitable companies. As part of the rebrand, Abacus FCF Advisors announced the launch of the Abacus FCF Small Cap Leaders ETF (ticker: ABLS), and management fee reductions of 5-10 basis points across all ETFs. An 18-month fee waiver of 20 basis points was also introduced on four of the ETFs.

    Ticker Fund Name
    ABFL Abacus FCF Leaders ETF
    ABLG Abacus FCF International Leaders ETF
    ABLD Abacus FCF Real Assets Leaders ETF*
    ABOT Abacus FCF Innovation Leaders ETF*
    ABLS Abacus FCF Small Cap Leaders ETF*
    ABHY Abacus Tactical High Yield ETF*

    *Effective 2/1/2025, a fee waiver of 20 basis points will be offered to these funds for 18 months.

    To celebrate this iconic event, the Abacus FCF Advisors team, along with other executives from ABL Wealth, is ringing the Cboe Global Markets Exchange opening bell today, Wednesday, February 19, 2025.

    “We are thrilled to ring the Cboe bell,” said Jay Jackson, CEO of Abacus Life. “The FCF acquisition, including the rebranded funds and new ETF, constitute significant milestones in Abacus’ ongoing expansion of ABL Wealth and its suite of innovative products, as well as our goal of delivering comprehensive, lifespan-based financial advisory services and products. FCF aligns perfectly with our strategy of providing clients with holistic and tailored financial solutions throughout their lives.”

    About Abacus FCF Advisors

    Abacus FCF Advisors is a leader in free cash flow investing and analytics, having pioneered the Free Cash Flow Leaders Model, which serves as the foundation for the firm’s quantitative investment process. Based on our research for the past decade, constructing a high-conviction portfolio through comprehensive analysis of Free Cash Flow Return on Invested Capital has historically outperformed and delivered superior long-term capital growth. This model prioritizes prudent capital expenditure, low accruals, high cash flow margins, and strong asset turnover. Abacus FCF Advisors has a suite of core and thematic free cash flow equity strategies and offers over 50 customizable free cash flow index strategies covering 8 global equities allocation categories available in ETFs, SMA/white label SMA and model delivery.

    www.abacusfcf.com

    About Abacus

    Abacus is a pioneering global alternative asset manager and market maker specializing in uncorrelated financial products. The company leverages its proprietary, cutting-edge longevity data and actuarial technology to purchase life insurance policies from consumers seeking liquidity. This creates a high-return asset class uncorrelated to market fluctuations for institutional investors.

    With nearly $3 billion in assets under management, including recently-completed acquisitions, Abacus is the only publicly traded global alternative asset manager focused on lifespan-based financial products.

    Abacus is expanding its leading expertise in longevity and lifespan into new growth areas:

    • ABL Wealth – Leverages decades of data and proprietary algorithms to offer longevity-based wealth management platforms that enable financial advisors to create customized plans and provide access to uncorrelated investments.
    • ABL Tech – A groundbreaking technology service that delivers advanced real-time data tracking and analysis for pension funds, governments, insurance companies, retirement associations, and more.

    Through each new channel, Abacus is revolutionizing the future of asset management and financial planning, centered on longevity and lifespan.

    www.Abacuslife.com

    Contacts:

    ABL Wealth

    Fei Xue, CAIA – Vice President, ABL Wealth
    fei@abacuslife.com
    (321) 710-5957

    Abacus Life Investor Relations

    Robert F. Phillips – SVP Investor Relations and Corporate Affairs
    rob@abacuslife.com
    (321) 290-1198

    David Jackson – IR/Capital Markets Associate
    djackson@abacuslife.com
    (321) 299-0716

    Abacus Life Public Relations
    press@abacuslife.com

    Important Information:

    Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the statutory and summary prospectuses, a copy of which may be obtained by visiting the Fund’s website at www.abacusfcf.com/ABFL, www.abacusfcf.com/ABLG, www.abacusfcf.com/ABLD, www.abacusfcf.com/ABOT,  www.Abacusfcf.com/ABLS, www.Abacusfcf.com/ABHY. Please read the prospectus or summary prospectus, if available, carefully before you invest.

    Investing involves risk, including possible loss of principal.

    Free Cash Flow (FCF) represents the cash that a company is able to generate after accounting for capital expenditures.

    Distributed by Quasar Distributors, LLC. Quasar is not related to Abacus or ABL.

    The MIL Network –

  • MIL-OSI: LM Funding America, Inc. Upgrades Fleet Efficiency and Hashrate with Luxor Firmware by 10-15%

    Source: GlobeNewswire (MIL-OSI)

    TAMPA, Fla., Feb. 19, 2025 (GLOBE NEWSWIRE) — LM Funding America, Inc. (NASDAQ:LMFA) (“LM Funding” or the “Company”), a Bitcoin mining and technology-based specialty finance company, today announced a strategic partnership between its US Digital Mining and Hosting Co subsidiary (“USDM”) and Luxor Technology Corporation (“Luxor”), a leader in Bitcoin mining software services, for the deployment of LuxOS firmware on the Company’s Bitcoin mining fleet.

    The LuxOS firmware upgrade was completed in early February 2025 and is expected to optimize the Company’s machines, increase efficiency and hashrate, and improve overall system reliability across various operational conditions. LM Funding expects this software upgrade to enhance its Bitcoin mining efficiency by 10-15%, directly resulting in higher profitability and extending machine life.

    Bruce M. Rodgers, Chairman and CEO of LM Funding, stated, “We are very pleased about this partnership as it enhances our hashrate by another 10-15% without any additional hardware investment. This enables us to mine more Bitcoin at higher margins and increase profitability.”

    Aaron Foster, Director of Business Development at Luxor, added, “This partnership represents a critical step forward in optimizing USDM’s mining operations, maximizing uptime, reducing costs, and ensuring systems operate reliably even in challenging conditions. Together with Luxor, the Company is setting a new standard for mining efficiency, profit maximization and performance.”

    About LuxOS
    Technology: LuxOS’s intelligent auto-tuning, machine voltage and frequency are precisely adjusted to maximize hashrate while reducing power consumption. Additionally, LuxOS’s Advanced Thermal Management system proactively maximizes fleet uptime by dynamically adjusting performance based on temperature thresholds, ensuring long-term operation stability.

    Audit and Compliance: Luxor is the only U.S. based firmware to achieve SOC 2 (Type II) certification, demonstrating the Company’s commitment to security, reliability, and compliance. Luxor’s certification ensures that institutional Bitcoin mining operations meet the highest standards set by the industry’s top auditors and best practices.

    About LM Funding America
    LM Funding America, Inc. (Nasdaq: LMFA), operates as a Bitcoin mining and specialty finance company. The company was founded in 2008 and is based in Tampa, Florida. For more information, please visit https://www.lmfunding.com.

    About Luxor Technology Corporation
    Luxor Technology Corporation is a Bitcoin mining software and services company that offers a suite of products catered toward the mining and compute power industry. Luxor’s suite of software and services includes an Antminer ASIC Firmware, an ASIC Marketplace, a Bitcoin mining pool, a Hashrate Derivatives Desk, and a Bitcoin mining data platform.

    Forward-Looking Statements 
    This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guaranties of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company’s most recent Annual Report on Form 10-K and its other filings with the SEC, which are available at www.sec.gov. These risks and uncertainties include, without limitation, uncertainty created by the risks of operating in the cryptocurrency mining business, uncertainty in the cryptocurrency mining business in general, problems with hosting vendors in the mining business, the capacity of our Bitcoin mining machines and our related ability to purchase power at reasonable prices, the ability to finance and grow our cryptocurrency mining operations, our ability to acquire new accounts in our specialty finance business at appropriate prices, the potential need for additional capital in the future, changes in governmental regulations that affect our ability to collected sufficient amounts on defaulted consumer receivables, changes in the credit or capital markets, changes in interest rates, and negative press regarding the debt collection industry. The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition, and results of operations. 

    For investor and media inquiries, please contact:  

    LM Funding America, Inc.
    Investor Relations  
    Orange Group  
    Yujia Zhai  
    LMFundingIR@orangegroupadvisors.com  

    Luxor Technology Corporation
    Director, Business Development
    Aaron Foster
    aaron@luxor.tech

    The MIL Network –

  • MIL-OSI: Laidlaw & Co. Announces Appointment of Douglas M. Jacoby to General Counsel

    Source: GlobeNewswire (MIL-OSI)

    • Douglas M. Jacoby brings over 25 years of experience to the position at Laidlaw & Co. as General Counsel
    • Douglas M. Jacoby previously served as the Director of Enforcement and Commissioner of Securities for the State of Missouri

    NEW YORK, Feb. 19, 2025 (GLOBE NEWSWIRE) — Laidlaw & Company (“Laidlaw & Co.” or “Laidlaw” or the “Company”), an established international investment banking and securities brokerage firm serving high-net-worth individuals and institutions, is pleased to announce the appointment of Douglas M. Jacoby to the role of General Counsel effective February 3, 2025.

    With over 25 years of experience as in-house legal counsel, Jacoby brings a wealth of expertise to his new role. In his appointment, Laidlaw & Co. anticipates advancing continuous improvement and adaptation within the evolving regulatory environment. Jacoby will strategically advise the board and senior management on all compliance matters.

    “I look forward to assuming this new venture at Laidlaw as their General Counsel,” commented Doug Jacoby. “My commitment is to support Laidlaw’s business objectives while upholding the highest ethical standards and best practices, ensuring their continued success. Moreover, I look forward to collaborating with their exceptional team, offering legal counsel and providing ongoing strategic guidance that reinforces the company’s goals and maintains its leadership in ethical standards and best practices.”

    “We are pleased to welcome Doug to Laidlaw as our General Counsel,” commented Matthew D. Eitner, Chief Executive Officer of Laidlaw & Co. “His extensive experience in securities regulation, enforcement, and investment banking legal counsel will be invaluable in reinforcing our firm’s strong compliance framework and commitment to excellence.”

    Jacoby previously served as the Commissioner of Securities and Director of Enforcement for the State of Missouri Securities Division, a role in which he managed and oversaw all aspects of the Division’s three sections: Registration, Examinations and Enforcement, regulating broker-dealers, agents, investment advisers and their representatives.

    Prior, Jacoby was in-house counsel for several Wall Street investment banks in New York City and London. He worked for the Financial Industry Regulatory Authority (FINRA) as Senior Counsel for Market Regulation Enforcement, was Executive Director of the Legal Department at Nomura Securities International, Inc., Senior Vice President and Legal Counsel at Lehman Brothers Inc./Barclays Capital Inc. and Vice President, Legal & Compliance Department at Credit Suisse First Boston LLC. Jacoby has also served as an adjunct faculty member at The Stillman School of Business at Seton Hall University.

    About Laidlaw & Co.

    For nearly two centuries, Laidlaw & Company has maintained a legacy of independent investment banking and securities brokerage, tailored to the specific needs of both domestic and international companies, corporate entrepreneurs, institutions, and private clients worldwide.

    Our expansive and continually growing network spans across the United States and Europe. These professionals operate under our FINRA registered subsidiary and extend our influence through an FCA authorized subsidiary based in London.

    Additionally, our team in healthcare-focused investment banking and capital markets comprises mainly senior professionals. These experts seamlessly merge ‘bulge’ bracket experience with the unique perspective of an entrepreneurial ‘independent’ firm. Their primary objective is to offer in-depth, hands-on transaction management and holistic solutions. One of our distinctive capabilities lies in aiding emerging companies to swiftly secure capital, courtesy of our robust retail sales force. This ensures our corporate clients enjoy the financial latitude they need to thrive and expand.

    At our core, we foster an entrepreneurial spirit, marked by a robust work ethic and an innovative “think outside the box” approach. We specialize in gathering assets and delivering financial solutions through both our in-house and independent sales offices.

    Media Contact

    Jessica Starman
    media@laidlawltd.com

    The MIL Network –

  • MIL-OSI: ChainSwap Set To Release Telegram Chaining Bot for Cross-Chain DeFi in Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    Dubai, United Arab Emirates, Feb. 19, 2025 (GLOBE NEWSWIRE) — – ChainSwap, a leading cross-chain swap application, is set to revolutionize crypto trading with the launch of its new Telegram Bot by Q1 2025. This innovative tool brings cross-chain transaction capabilities directly to Telegram’s userbase, simplifying the trading experience for new and seasoned users.

    By integrating a DeFi application into Telegram, ChainSwap enables users to trade more efficiently and conveniently, bridging the gap between communication and financial transactions. This strategic move leverages Telegram’s vast user base to drive seamless adoption while lowering barriers for newcomers to crypto. This integration enhances user experience and positions Telegram as a gateway for mainstream decentralized finance adoption, fostering a more inclusive and accessible crypto ecosystem.

    With over a billion downloads, Telegram has established itself as a hub for crypto communities, facilitating communication and trading. Home to many decentralised finance (DeFi) projects, the platform has had explosive growth in crypto-focused groups. Recently,  Telegram-based bots have processed more than $250 million in daily trading volume—outpacing DEX volumes on major networks like Polygon.

    “With Telegram’s large and engaged crypto community, we aim to bridge the gap between ease of use and sophisticated crypto trading,” said Fitzy, Founder of ChainSwap. “Our Telegram Bot enables users to perform cross-chain swaps seamlessly, eliminating the need for separate DEX platforms and complex interfaces.”
    ChainSwap’s Telegram Bot supports transactions across major blockchains, including Ethereum, Arbitrum, Avalanche, Optimism, Polygon, and Base. By leveraging Telegram’s familiar interface, ChainSwap aims to make decentralized finance more accessible, and increase participation in cross-chain trading.

    ChainSwap has made notable progress since its inception, achieving key milestones that highlight its growing influence in the blockchain space. The platform now boasts more than 2500 users on its decentralized application (dApp), a total trading volume of over US$92 million, and more than 80,000 trades. These figures underscore ChainSwap’s commitment to simplifying cross-chain transactions and its role in advancing decentralized finance (DeFi) solutions.

    -END-
    About ChainSwap 

    ChainSwap is a platform at the forefront of Web3 innovation, facilitating seamless transactions across multiple blockchains and catering to emerging demand on any chain. By leveraging cutting-edge security protocols like Chainlink’s CCIP, ChainSwap provides a secure Layer 5 environment for cross-chain transactions. Its multi-chain DEX simplifies swaps, ensuring user privacy and effortless token distribution within a unified ecosystem. It also allows users to eliminate the need for bridges and decentralised exchanges that do not provide cross-chain support. ChainSwap revolutionises blockchain communication, enhancing chain interoperability and security to unprecedented levels.

    Discover more on https://www.chain-swap.org

    Media Contacts: LJ Collier, lj@lunapr.io

    The MIL Network –

  • MIL-OSI: Data443 Partners with TierPoint to Expand Data Center Footprint

    Source: GlobeNewswire (MIL-OSI)

    Collaboration Triples Infrastructure Capacity to Support Rapid Customer Growth and AI Initiatives

    RESEARCH TRIANGLE PARK, N.C., Feb. 19, 2025 (GLOBE NEWSWIRE) — Data443 Risk Mitigation, Inc. (OTCPK: ATDS) (“Data443” or the “Company”), a data security and privacy software company for “All Things Data Security,” today announced a strategic agreement with TierPoint, a premier provider of secure, connected data center and cloud solutions. This agreement will enable Data443 to triple its data center infrastructure capacity, supporting the company’s rapid customer growth, operational efficiency initiatives, and upcoming artificial intelligence programs.

    Through this collaboration, Data443 will leverage TierPoint’s state-of-the-art facilities to enhance its infrastructure capabilities while optimizing operational expenses. The expansion addresses increasing customer demand for Data443’s comprehensive suite of data security, privacy, and compliance solutions.

    Jason Remillard, Founder and CEO of Data443 commented: “Our partnership with TierPoint came together out of necessity in tripling our data center capacity to meeting the current demands of our growing customer base. Working with TierPoint positions us for future expansion, particularly in the realm of AI-driven security solutions. TierPoint’s robust infrastructure and proven track record make them the ideal partner for these initiatives.”

    “Our support for Data443 highlights TierPoint’s ability to deliver scalable and reliable data center solutions,” said Gus Hoover, Director Data Center Operations at TierPoint. “By scaling quickly to support Data443’s growth and leveraging redundant infrastructure, we’re providing a cutting-edge solution tailored to their needs.”

    The expanded infrastructure will support Data443’s continued innovation in data security and privacy solutions and is expected to generate substantial operational cost savings through improved efficiency and economies of scale.

    The collaboration delivers multiple strategic advantages that will strengthen Data443’s market position and operational capabilities. The immediate tripling of data center capacity will accommodate the company’s rapid customer growth, while enhanced infrastructure capabilities will power next-generation AI initiatives. Additionally, the expanded infrastructure will enable accelerated deployment of new services and solutions, allowing Data443 to respond more quickly to evolving market demands.

    Recently the company announced its acquisition of leading AI email managment provider Breezemail.ai as it continues innovation in the data security realms.

    About TierPoint

    TierPoint (tierpoint.com) is a leading provider of secure, connected IT platform solutions that power the digital transformation of thousands of clients, from the public to private sectors, from small businesses to Fortune 500 enterprises. Taking an agnostic approach to helping clients achieve their most pressing business objectives, TierPoint is a champion for untangling the complexity of hybrid, multi-platform approaches to IT infrastructure, drawing on a comprehensive portfolio of services, from public to multitenant and private cloud, from colocation to disaster recovery, security, and more. TierPoint also has one of the largest and most geographically diversified U.S. footprints, with dozens of world-class, cloud-ready data centers in 20 markets, connected by a coast-to-coast network.

    About Data443 Risk Mitigation, Inc.

    Data443 Risk Mitigation, Inc. (OTCPK: ATDS) provides software and services to enable secure data across devices and databases, at rest and in flight/in transit, locally, on a network or in the cloud. We are All Things Data Security™. With over 10,000 customers in over 100 countries, Data443 provides a modern approach to data governance and security by identifying and protecting all sensitive data regardless of location, platform or format. Data443’s framework helps customers prioritize risk, identify security gaps and implement effective data protection and privacy management strategies. For more information, visit: https://data443.com.

    Forward-Looking Statements 

    This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by use of terms such as “expect,” “believe,” “anticipate,” “may,” “could,” “will,” “should,” “plan,” “project,” “intend,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue” or the negative of these words or other comparable terminology. Statements in this press release that are not historical statements, including statements regarding Data443’s plans, objectives, future opportunities for Data443’s services, future financial performance and operating results, and any other statements regarding Data443’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance, or regarding the anticipated consummation of any transaction, are forward-looking statements. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties and assumptions, many of which are difficult to predict or are beyond Data443’s control. These risks, uncertainties and assumptions could cause actual results to differ materially from the results expressed or implied by the statements. They may relate to the outcome of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; inability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and integration of acquisitions; product liability; cybersecurity risk; anti-takeover measures in the Company’s charter documents; and the uncertainties created by global health issues, such as the ongoing outbreak of COVID, and political unrest and conflict, such as the invasion of Ukraine by Russia. These and other important risk factors are described more fully in the Company’s reports and other documents filed with the Securities and Exchange Commission (“the SEC”), including in Part I, Item 1A of the Company’s Annual Report on Form 10-K filed with the SEC on April 17, 2024, and subsequent filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to the Company on the date hereof. Except as otherwise required by applicable law, Data443 undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.

    “DATA443” is a registered trademark of Data443 Risk Mitigation, Inc.

    All product names, trademarks and registered trademarks are property of their respective owners. All company, product and service names used in this press release are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.

    For further information:
    Follow us on LinkedIn: https://www.linkedin.com/company/data443-risk-mitigation-inc/
    Follow us on YouTube: https://www.youtube.com/channel/UCZXDhJcx-XgMBhvE9aFHRdA
    Sign up for our Investor Newsletter: https://data443.com/investor-email-alerts/

    To learn more about Data443, please watch the Company’s video introduction on its YouTube channel: https://youtu.be/1Fp93jOxFSg

    Investor Relations Contact:
    Matthew Abenante
    ir@data443.com
    919.858.6542

    The MIL Network –

  • MIL-OSI Africa: Ecowas breakup could push up food prices and worsen hunger in west Africa

    Source: The Conversation – Africa – By Danielle Resnick, Senior Research Fellow, International Food Policy Research Institute (IFPRI)

    The Economic Community of West African States (Ecowas) lost three of its founding members on 29 January 2025. Burkina Faso, Mali and Niger comprised 16% of the bloc’s population of 424 million and 7% of its economy.

    Some commentators have labelled their departure – first announced a year ago – as “Sahelexit”. The decision to leave Ecowas was made by the three countries’ military leaders and is now poised to take effect legally. The three countries have created the Alliance of Sahel States (Alliance des États du Sahel, AES), a mutual defence and security pact formalised through the Liptako Gourma Charter in 2023.

    The decision to leave Ecowas was prompted after the military leaders launched coups against democratically elected leaders in Mali in 2021, Burkina Faso in 2022 and Niger in 2023. The Ecowas Democracy and Governance Protocol prohibits unconstitutional changes of government. The regional body therefore imposed economic, financial and travel sanctions on each country after each coup.

    Food was exempted from the sanctions. But the resulting increase in transport times and other logistical hurdles contributed to substantial levels of food price inflation in the region. In Niger, for instance, the average market price of rice rose by 38% between July 2023, when sanctions were first imposed, and February 2024, when they were lifted.

    Remaining Ecowas countries were also badly affected. Benin’s revenues at the port of Cotonou, the main transit source for goods going into Niger, fell dramatically. The sanctions on Mali badly hurt revenue generation at the port of Dakar in neighbouring Senegal.

    All sanctions were lifted in February 2024. But the damage was done, and the three states began preparing their departure from the regional body.

    Ecowas has given these three states a transition period until July 2025 in case they backtrack and want to return. But the Alliance of Sahel States leaders have said their decision is irreversible.

    The exit from Africa’s largest political and economic union threatens to disrupt flows of goods, services and people. As a political economist who focuses on agriculture and nutrition policy in much of Africa, I worry that these developments will have serious consequences for food security in a region where almost 17 million children under five are already acutely malnourished.

    Already, the cost of a daily nutritious diet in the three Sahel alliance countries is 110% higher than the daily minimum wage in the west African region. The countries are also among the world’s hunger hotspots. In early 2025, 7.5 million of their population were classified as in crisis, emergency or famine conditions.

    The exit will also imperil regional cooperation on conflict. Insurgent attacks are moving further south of the Sahel.

    This will reduce access to safe, affordable food and deter investments in agro-processing.

    A blow to trade

    The implications of exit are most obvious for trade relations. Although the three countries will remain in the eight-member francophone West African Economic and Monetary Union, they are departing the Ecowas customs union, which includes the region’s anglophone countries. A customs union removes tariffs among its member states and establishes a common external tariff on non-member states. Members experience freer trade with each other while protecting their domestic industries from external competition. Since 2015, import tariffs for intra-Ecowas goods have been eliminated. A common external tariff is levied on imports from non-Ecowas countries.

    Leaving Ecowas means the three countries will have to adhere to the common external tariff rates for their imports into Ecowas member countries. They will also revert to using the World Trade Organisation’s Most Favored Nation rates on imports from Ecowas countries, which are higher for some categories of goods than the Ecowas tariff.

    In other words, for some goods, including agricultural products, imports will be more expensive for all countries. The three states will be further hurt by the community levy, the 0.5% tax Ecowas imposes on goods from non-Ecowas member states to fund the bloc’s budget.

    All three countries are landlocked. Leaving Ecowas means they lose access to ports like Tema in Ghana and Lagos in Nigeria. There will be implications for some of their biggest exports. For instance, almost 60% of Burkina Faso’s vegetable exports and 90% of its live animal exports go to Ghana and Côte d’Ivoire.

    Ghana, along with Côte d’Ivoire and Benin, is a key export market for Niger’s onions. Niger also imports a large share of its food products from Nigeria, one of its largest trading partners in the region.

    The tariff and levies therefore could increase the cost of food for consumers in both the Alliance of Sahel States and remaining Ecowas countries.

    The withdrawal of the three countries will also affect food production through diminished access to electricity as well as wheat flour and edible oils. The trio face possible exclusion from the Ecowas West African Power Pool, which aims to increase members’ access to the regional electricity market. Burkina Faso and Niger import most of their electricity from Côte d’Ivoire and Nigeria.

    Finally, the livelihoods of Sahelian migrants living in Ecowas countries remain uncertain. Due to the Ecowas freedom of movement protocol, more than 1.3 million Burkinabes and half a million Malians live in Côte d’Ivoire. Many of them run small, informal sector businesses to support their families back home.

    Future scenarios

    Ecowas marks its 50th anniversary in 2025. What could the future look like?

    Junta leaders are proposing various ways in which the relationship between the Alliance of Sahel States and Ecowas will proceed. For instance, they have claimed that they will maintain visa-free travel from Ecowas countries into theirs. But all 12 remaining Ecowas states would have to approve that proposal. The alliance also launched its own passport, but it’s not clear how Ecowas states will treat citizens who use it.

    Another possible scenario is that they will negotiate bilateral agreements with their major Ecowas trading partners and with other countries that offer sea access, such as Mauritania and Morocco. This scenario obviously undermines efforts to enhance regional trade integration.

    Finally, the problems surrounding the “Sahelexit” embody a larger set of tensions. These include whether political objectives should be embedded within trade arrangements — a debate also central to the possible renewal of the African Growth and Opportunity Act this year – and whether concerns over national sovereignty will undermine regional cooperation on increasing cross-border climate, conflict, and health threats to food security.

    – Ecowas breakup could push up food prices and worsen hunger in west Africa
    – https://theconversation.com/ecowas-breakup-could-push-up-food-prices-and-worsen-hunger-in-west-africa-249195

    MIL OSI Africa –

  • MIL-OSI Economics: ADB Supports Digital Transformation of Uzbekistan’s Water Sector

    Source: Asia Development Bank

    MANILA, PHILIPPINES (19 February 2025) — The Asian Development Bank (ADB) approved a $125 million loan to support the Government of Uzbekistan in modernizing water management, improving water security, and increasing access to safe and reliable water in the country. 

    The Climate-Smart Water Management Improvement Project will improve asset management and sustainability of service delivery, while strengthening the institutional capacity of the country’s national water utility. This will help decision making and enhance water management and energy-use efficiency, contributing to climate change mitigation efforts.

    “Uzbekistan’s water resources are under acute threat from climate change and inefficient usage,” said ADB Country Director for Uzbekistan Kanokpan Lao-Araya. “ADB’s project introduces smart water management systems to improve water usage, reduce energy consumption, and increase operational efficiency to lower Uzbekistan’s carbon footprint.” 

    The project will support the Joint Stock Company Uzsuvtaminot (the national water utility) and its regional branches in completing the installation of an ongoing nationwide bulk flow metering and telemetry system on the main water resource’s locations. The project will also carry out an asset inventory and prepare onsite geographic mapping for all existing water supply and wastewater infrastructure, including about 4 million customer connections. 

    An integrated package of climate-smart, IT-based utility management systems will be launched, including relevant training for the national water utility staff. The project will also improve customer centers by providing new financial management software that will lead to transparent financial statements based on international standards. 

    The project will promote transformative digital solutions and technologies to decrease operational expenditure, increase workforce efficiency, and enhance customer engagement and satisfaction.

    This year marks the 30th anniversary of the partnership between ADB and the Republic of Uzbekistan. Since the Republic of Uzbekistan joined ADB in 1995, the bank has committed public sector loans, grants, and technical assistance totaling $14.3 billion to the country.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

    MIL OSI Economics –

  • MIL-OSI Global: Ecowas breakup could push up food prices and worsen hunger in west Africa

    Source: The Conversation – Africa – By Danielle Resnick, Senior Research Fellow, International Food Policy Research Institute (IFPRI)

    The Economic Community of West African States (Ecowas) lost three of its founding members on 29 January 2025. Burkina Faso, Mali and Niger comprised 16% of the bloc’s population of 424 million and 7% of its economy.

    Some commentators have labelled their departure – first announced a year ago – as “Sahelexit”. The decision to leave Ecowas was made by the three countries’ military leaders and is now poised to take effect legally. The three countries have created the Alliance of Sahel States (Alliance des États du Sahel, AES), a mutual defence and security pact formalised through the Liptako Gourma Charter in 2023.

    The decision to leave Ecowas was prompted after the military leaders launched coups against democratically elected leaders in Mali in 2021, Burkina Faso in 2022 and Niger in 2023. The Ecowas Democracy and Governance Protocol prohibits unconstitutional changes of government. The regional body therefore imposed economic, financial and travel sanctions on each country after each coup.

    Food was exempted from the sanctions. But the resulting increase in transport times and other logistical hurdles contributed to substantial levels of food price inflation in the region. In Niger, for instance, the average market price of rice rose by 38% between July 2023, when sanctions were first imposed, and February 2024, when they were lifted.

    Remaining Ecowas countries were also badly affected. Benin’s revenues at the port of Cotonou, the main transit source for goods going into Niger, fell dramatically. The sanctions on Mali badly hurt revenue generation at the port of Dakar in neighbouring Senegal.

    All sanctions were lifted in February 2024. But the damage was done, and the three states began preparing their departure from the regional body.

    Ecowas has given these three states a transition period until July 2025 in case they backtrack and want to return. But the Alliance of Sahel States leaders have said their decision is irreversible.

    The exit from Africa’s largest political and economic union threatens to disrupt flows of goods, services and people. As a political economist who focuses on agriculture and nutrition policy in much of Africa, I worry that these developments will have serious consequences for food security in a region where almost 17 million children under five are already acutely malnourished.

    Already, the cost of a daily nutritious diet in the three Sahel alliance countries is 110% higher than the daily minimum wage in the west African region. The countries are also among the world’s hunger hotspots. In early 2025, 7.5 million of their population were classified as in crisis, emergency or famine conditions.

    The exit will also imperil regional cooperation on conflict. Insurgent attacks are moving further south of the Sahel.

    This will reduce access to safe, affordable food and deter investments in agro-processing.

    A blow to trade

    The implications of exit are most obvious for trade relations. Although the three countries will remain in the eight-member francophone West African Economic and Monetary Union, they are departing the Ecowas customs union, which includes the region’s anglophone countries. A customs union removes tariffs among its member states and establishes a common external tariff on non-member states. Members experience freer trade with each other while protecting their domestic industries from external competition. Since 2015, import tariffs for intra-Ecowas goods have been eliminated. A common external tariff is levied on imports from non-Ecowas countries.

    Leaving Ecowas means the three countries will have to adhere to the common external tariff rates for their imports into Ecowas member countries. They will also revert to using the World Trade Organisation’s Most Favored Nation rates on imports from Ecowas countries, which are higher for some categories of goods than the Ecowas tariff.

    In other words, for some goods, including agricultural products, imports will be more expensive for all countries. The three states will be further hurt by the community levy, the 0.5% tax Ecowas imposes on goods from non-Ecowas member states to fund the bloc’s budget.

    All three countries are landlocked. Leaving Ecowas means they lose access to ports like Tema in Ghana and Lagos in Nigeria. There will be implications for some of their biggest exports. For instance, almost 60% of Burkina Faso’s vegetable exports and 90% of its live animal exports go to Ghana and Côte d’Ivoire.

    Ghana, along with Côte d’Ivoire and Benin, is a key export market for Niger’s onions. Niger also imports a large share of its food products from Nigeria, one of its largest trading partners in the region.

    The tariff and levies therefore could increase the cost of food for consumers in both the Alliance of Sahel States and remaining Ecowas countries.

    The withdrawal of the three countries will also affect food production through diminished access to electricity as well as wheat flour and edible oils. The trio face possible exclusion from the Ecowas West African Power Pool, which aims to increase members’ access to the regional electricity market. Burkina Faso and Niger import most of their electricity from Côte d’Ivoire and Nigeria.

    Finally, the livelihoods of Sahelian migrants living in Ecowas countries remain uncertain. Due to the Ecowas freedom of movement protocol, more than 1.3 million Burkinabes and half a million Malians live in Côte d’Ivoire. Many of them run small, informal sector businesses to support their families back home.

    Future scenarios

    Ecowas marks its 50th anniversary in 2025. What could the future look like?

    Junta leaders are proposing various ways in which the relationship between the Alliance of Sahel States and Ecowas will proceed. For instance, they have claimed that they will maintain visa-free travel from Ecowas countries into theirs. But all 12 remaining Ecowas states would have to approve that proposal. The alliance also launched its own passport, but it’s not clear how Ecowas states will treat citizens who use it.

    Another possible scenario is that they will negotiate bilateral agreements with their major Ecowas trading partners and with other countries that offer sea access, such as Mauritania and Morocco. This scenario obviously undermines efforts to enhance regional trade integration.

    Finally, the problems surrounding the “Sahelexit” embody a larger set of tensions. These include whether political objectives should be embedded within trade arrangements — a debate also central to the possible renewal of the African Growth and Opportunity Act this year – and whether concerns over national sovereignty will undermine regional cooperation on increasing cross-border climate, conflict, and health threats to food security.

    Danielle Resnick receives funding from the Gates Foundation and the Open Society Foundation.

    – ref. Ecowas breakup could push up food prices and worsen hunger in west Africa – https://theconversation.com/ecowas-breakup-could-push-up-food-prices-and-worsen-hunger-in-west-africa-249195

    MIL OSI – Global Reports –

  • MIL-OSI Global: Trump’s effect on critical minerals could be crucial for the future of green energy

    Source: The Conversation – UK – By Jorge Valverde, PhD Fellow, Maastricht Economic and Social Research Institute on Innovation and Technology (UNU-MERIT), United Nations University

    Nickel laterite in an open pit mine. Nickel is one of the critical minerals

    There’s a chance Donald Trump’s second term as US president could have a long-term negative impact on the demand for and supply of what are known as critical minerals. These include copper, lithium, nickel, cobalt and the “rare earth elements”, such as lanthanum and yttrium.

    They are vital for the green energy transition, being used in electric car batteries, solar panels and wind turbines. Trump’s decision to pull out of the UN’s Paris agreement to control global warming has led to some pessimistic perspectives on this policy’s impacts.

    If Trump’s move towards oil and gas is interpreted by the markets as permanent, the price incentive for new mining projects for critical minerals will fall, along with long-term supply. This could potentially threaten the green energy transition.

    However, there are reasons to doubt this pessimistic scenario. Contrary to this, we believe that the new US administration policy is just a temporary shock without a significant change to the world’s energy transition trajectory. Therefore, critical mineral markets will remain buoyant in the medium and long term. This position is based on three main arguments.

    1. The US holds a competitive position in critical mineral markets

    There’s a generalised perception that the US depends on importing critical minerals from other countries, such as China. This is true for a handful, but, overall, America is one of the most competitive countries in producing the minerals needed for green technology.

    Indeed, the US has a revealed comparative advantage in exporting a wide variety of minerals and, among them, the most critical ones.

    Supplies of germanium are tightly controlled by China.
    RHJPhtotos

    Therefore, it will be in the US’s interests to keep the lucrative critical mineral markets dynamic. Even if the US reduces its sustainability ambitions, slowing its demand for new clean technologies, it is likely to do it carefully, so as not to harm its own industries.

    Indeed, we expect the US to increase its interest in developing processing industries to recover some minerals from electronic waste or intermediate stages in some manufacturing processes. These include germanium and gallium, which are tightly controlled by China (their biggest producer) but which are vital for computer chips and renewable energy technology, as well as night-vision goggles.

    2. The US produces and uses only a small share of clean technologies

    China and Europe drive these markets. The US does not drive either the demand or the supply for new clean technologies. On the demand side, the US only represents 10% of world electric car sales, while China and Europe account for 66% and 20% of the market respectively.

    China represents over 43% of installed solar energy capacity.
    Wang An Qi Shutterstock

    Similarly, for the world installed solar energy capacity, China represents over 43% of the market, Europe 20%, and the US only 10%. On the supply side, the US produces around 15% of the world’s electric cars, while China represents more than 50% of the market.

    For other clean technologies, statistics are similar with a remarkable leadership of China in the production of solar panels and wind turbines.

    So the policies followed by China and Europe are likely to have a much larger impact on the energy transition than the US’s. In the likely event that these countries continue pushing forward the green transition, the cost of slowing its technological catch up for the US will be too high.

    Moreover, oil producer countries of the Middle East are heavily betting for new clean technologies, which could offset the lower appetite for green assets from the US. So regardless of what Trump’s administration will decide on this matter, its influence on the market for clean technologies will be limited.

    3. New tariffs could further increase some minerals’ criticality

    Import tariffs imposed by Trump’s first administration to promote local production damaged US exports of those industries using imported intermediate, or partly finished, goods. In other words, international trade along global value chains has modified the textbook dynamics of protectionism, and exports are hindered – and not fostered – by import protection.

    President Trump plans to impose 25% new tariffs on imports from Canada and Mexico. This could increase the criticality of some minerals for the US. For example, nickel and aluminium could become even more critical to the US economy because Canada supplies almost 40% of the nickel employed by US industry, and 70% of the aluminium.

    As a consequence, new tariffs could indeed increase the criticality of some minerals. Indeed, this was probably in some way behind the decisions to postpone the tariff increases and to only impose them on selected products.

    The energy policies of the new American administration will have ripple effects. But these are likely to be temporary and the market in critical minerals is unlikely to be affected long term. The global transition to clean energy seems safe, for now.

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

    – ref. Trump’s effect on critical minerals could be crucial for the future of green energy – https://theconversation.com/trumps-effect-on-critical-minerals-could-be-crucial-for-the-future-of-green-energy-249058

    MIL OSI – Global Reports –

  • MIL-OSI Asia-Pac: LCQ19: Attracting strategic enterprises in advanced manufacturing industries

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Yim Kong and a written reply by the Deputy Financial Secretary, Mr Michael Wong, in the Legislative Council today (February 19):Question:     The Office for Attracting Strategic Enterprises (OASES) commenced operation in December 2022, which was tasked with attracting industries of strategic importance to Hong Kong (including advanced manufacturing industries) to pursue development in Hong Kong. Some analyses have pointed out that investments in advanced manufacturing industries focus on technology and capital, and the number of jobs created is limited. There are also views that although automation and intelligentisation may reduce the number of jobs in traditional manufacturing industries, they also create jobs in technical maintenance, research and development as well as management. In this connection, will the Government inform this Council:(1) how it will assess the effectiveness of OASES’ work carried out in 2023 and last year;(2) whether it has compiled statistics on the investment amount and the numbers of employees hired by the enterprises related to advanced manufacturing industries; how the Government will assess the effectiveness of the policies implemented in 2023 and last year on attracting strategic enterprises in advanced manufacturing industries covering such aspects as taxation, financing and talents, so as to ensure that the objectives of attracting investments and creating employment opportunities can be achieved; and(3) whether it has assessed if the manpower trained by local universities caters for the needs of the future development of advanced manufacturing industries; whether the Government will, in attracting the strategic enterprises concerned, implement plans to support manpower training in the light of the development needs of the enterprises, such as setting up vocational training funds and encouraging enterprises to collaborate with universities and vocational training schools to offer training courses related to advanced manufacturing industries to nurture the required talents for the enterprises?Reply:President,     The Office for Attracting Strategic Enterprises (OASES) is dedicated to attracting enterprises from industries of strategic importance to Hong Kong. Its work includes identifying target strategic enterprises, understanding their needs and providing customised facilitation support and one-stop services to strategic enterprises that are establishing their presence in Hong Kong. My reply to the questions raised by the Hon Yim Kong is as follows:(1) Since its commencement of operation in December 2022, OASES has reached out proactively to high-potential and representative strategic enterprises from around the globe. Despite the complicated and ever-changing economic environment in recent years, substantive progress has been achieved by OASES over the past two years. So far, 66 strategic enterprises have been brought to Hong Kong, and they are from the four strategic industries, i.e. life and health technology, artificial intelligence and data science, financial technology and advanced manufacturing and new energy technology. Among them, around 80 per cent plan to establish their global or regional headquarters in Hong Kong. It is estimated that in the coming years, they will invest about $42 billion in total and create more than 17 000 jobs.     OASES also continues to follow up on the development and needs of strategic enterprises that have established their presence in Hong Kong. By assisting and accelerating the plans of strategic enterprises to use Hong Kong as their base to tap into the Mainland market or expand overseas, it would thereby speed up the diversification and transformation of Hong Kong’s industries. This would also further strengthen Hong Kong’s role as a “super connector” and “super value-adder”, and attract more overseas enterprises to use Hong Kong as a base to tap into the Mainland market, while supporting Mainland enterprises to “go global”.(2) Based on the information from OASES, amongst the 66 strategic enterprises that have established their presence in Hong Kong, 12 belong to the advanced manufacturing and new energy technology industry. They include companies with a market capitalisation/valuation of over $10 billion, and are engaging in cutting-edge technologies. The enterprises have either established or plan to establish research and development (R&D) centres and/or production bases in Hong Kong, while 75 per cent of them plan to establish international or regional headquarters in Hong Kong. OASES has closely followed up on the development and needs of these strategic enterprises, and provided them with customised facilitation support. For example, a series of matching activities with parties such as innovation and technology (I&T) parks, universities and research institutes, chambers of commerce and professional bodies were arranged to speed up their commencement of operation in Hong Kong. It is estimated that in the coming few years, the aforementioned advanced manufacturing enterprises alone will invest around $5.6 billion in Hong Kong and create more than 1 800 jobs. By establishing or expanding their operations in Hong Kong, these strategic enterprises from the advanced manufacturing sector will also attract upstream, midstream and downstream partners from their industry chains to come to Hong Kong. This would accelerate the development of the advanced manufacturing industry, and assist the upgrading and transformation of the traditional manufacturing industry, thereby building a more vibrant ecosystem for the industry and creating more high-quality job opportunities.     In fact, with a view to promoting the development of new industrialisation in Hong Kong, the Government has been using various measures to encourage the manufacturing industry (including the advanced manufacturing industry) to upgrade and transform through the use of I&T. The implementation of such measures is progressing as scheduled. On tax measures, the Government offers tax concessions to enterprises engaging in R&D activities in Hong Kong. The qualifying R&D expenditures of such enterprises enjoy an enhanced tax deduction, with the first $2 million of the total expenditure eligible for a 300 per cent tax deduction, and the amount beyond $2 million eligible for a 200 per cent deduction. There is no cap on the amount of enhanced tax deduction, and it applies to all eligible enterprises. The Inland Revenue Department is still processing the tax returns and assessments for the year of assessment 2023/24 and does not further classify the relevant statistics into traditional or advanced manufacturing mode in the assessment of profits tax so is unable to provide the relevant statistics.     The Government also provides funding support to further promote new industralisation. For instance, the New Industrialisation Funding Scheme (NIFS), aiming to subsidise manufacturers to set up new smart production lines in Hong Kong, targets to increase the cumulative number of smart production lines funded under the scheme to at least 130 in 2027. As at January 2025, 63 applications have been supported by the NIFS Vetting Committee (Vetting Committee), involving more than 100 production lines in total. The progress is satisfactory. Besides, the $10 billion New Industrialisation Acceleration Scheme (NIAS) was set up by the Government in September 2024 to provide funding support on a matching basis for enterprises in strategic industries including advanced manufacturing and new energy technology. The first project under NIAS was supported by the Vetting Committee in early 2025, with the total project cost estimated at around $600 million and the expected NIAS funding amount at around $200 million. With enterprises actively participating in the two funding schemes, the Government is glad to see that they are making use of I&T to achieve smart production so as to enhance competitiveness.     Meanwhile, the Government is increasing investment and guiding more market capital to invest in I&T industries. For instance, it was announced in the 2024 Policy Address to set up a $10 billion I&T Industry-Oriented Fund to create a fund-of-funds and channel more market capital to invest in specified emerging and future industries of strategic importance, including areas such as advanced manufacturing, so as to systematically build an I&T ecosystem. Furthermore, the Policy Address also announced the optimisation of the Innovation and Technology Venture Fund by redeploying at most $1.5 billion to set up funds jointly with the market, on a matching basis, to invest in start-ups of strategic industries including advanced manufacturing and new energy technology, thereby strengthening the Hong Kong I&T ecosystem.(3) Post-secondary institutions in Hong Kong can flexibly offer programmes that meet market needs and to engage with relevant industry stakeholders for timely adjustment of programme content to enhance the learning experience of students. The Education Bureau has also been supporting different policy bureaux/departments in policy areas related to manpower and training needs.     In order to nurture local talents, the New Industrialisation and Technology Training Programme was launched in August 2018. It subsidises local enterprises on a 2 (Government): 1 (enterprise) matching basis to train their staff in advanced technologies, especially training related to new industrialisation.     OASES has all along been promoting and encouraging strategic enterprises that have established their presence in Hong Kong to consider participating in the talent training programmes launched by the Government to support talent nurturing. Meanwhile, OASES has also been promoting and encouraging these enterprises to engage with universities and research institutes to discuss potential research collaborations and matters related to talent development, so that there would be more avenues to nurture talents to meet the needs of the enterprises.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: High Level Committee, under the chairmanship of Union Home Minister and Minister of Cooperation Shri Amit Shah approves Rs.1554.99 crore of additional Central assistance to five States

    Source: Government of India (2)

    High Level Committee, under the chairmanship of Union Home Minister and Minister of Cooperation Shri Amit Shah approves Rs.1554.99 crore of additional Central assistance to five States

    Andhra Pradesh, Nagaland, Odisha, Telangana and Tripura to get funds for floods/ flash flood, landslides, cyclonic storm that occurred during 2024

    This shows the resolve of the Central Government under the leadership of Prime Minister Shri Narendra Modi to help the people of five States who faced these natural disasters

    During financial year 2024-25, Central Government has released Rs. 18,322.80 crore to 27 States in SDRF and Rs. 4,808.30 crore from NDRF to 18 States

    Posted On: 19 FEB 2025 10:52AM by PIB Delhi

    The High-Level Committee (HLC), under the Chairmanship of the Union Home Minister and Minister of Cooperation Shri Amit Shah, has approved Rs.1554.99 crore of additional Central assistance under the National Disaster Response Fund (NDRF) to five States, affected by flood, flash flood, landslides, cyclonic storm during year 2024. This shows the resolve of the Central Government under the leadership of Prime Minister Shri Narendra Modi to help the people of five States who faced these natural disasters.

    The HLC approved central assistance of Rs.1554.99 crore to five States from NDRF, subject to an adjustment of 50% of the opening balance for the year available in the SDRF. Out of the total amount of Rs.1554.99 crore, Rs 608.08 crore has been approved for Andhra Pradesh, Rs 170.99 crore for Nagaland, Rs 255.24 crore for Odisha, Rs. 231.75 crore for Telangana and Rs. 288.93 crore for Tripura.

    This additional assistance is over and above the funds released by the Centre to the States in the State Disaster Response Fund (SDRF), already placed at the disposal of the States. During the financial year 2024-25, the Central Government has released Rs. 18,322.80 crore to 27 States in SDRF and Rs. 4,808.30 crore from NDRF to 18 States, Rs. 2208.55 crore from the State Disaster Mitigation Fund (SDMF) to 14 States and Rs. 719.72 crore from National Disaster Mitigation Fund (NDMF) to 08 States.

    The Central Government had deputed Inter-Ministerial Central Teams (IMCTs) to these States, immediately after the calamities, without waiting for the receipt of a formal Memorandum.

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    RK / VV / RR / PS

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    Read this release in: Hindi

    MIL OSI Asia Pacific News –