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  • MIL-OSI Africa: Emphasis on leadership, sustainability, youth engagement and digitalisation as International Olympic Committee (IOC) presidential candidates present plans for global sports

    Source: Africa Press Organisation – English (2) – Report:

    LAUSANNE, Switzerland, January 31, 2025/APO Group/ —

    The seven candidates running to become the next President of the International Olympic Committee (IOC) are hoping that with their 15-minute presentations at the Olympic House on Thursday, 30 January, they have been able to convince the IOC membership of their capabilities to lead the biggest sports organisation in the world. 

    Although they were unable to read the room during the in-camera meeting, especially as their audience was barred from asking questions, the candidates appeared satisfied with their campaign pitches. 

    BEHIND CLOSED DOORS There will be no other opportunities for presentations before the election scheduled for 20 March in Greece. Speaking to the media after giving their presentations behind closed doors, some of the candidates believe the current election process requires a review. 

    Prince Feisal Al Hussein of Jordan, who was the first to appear before the press, said: “If I’m President, I think I would have more flexibility in the rules… We are part of a global sports community and the world has the right to know who is running and what they stand for.” 

    Below are excerpts from the candidates’ interaction with the media at the Château de Vidy, the historical building next to Olympic House, where the presentations took place. 

    HRH PRINCE FEISAL AL HUSSEIN  

    PRESENTATION: It was an honor to deliver my speech to my fellow IOC members, where I laid out my vision for the future blueprint of the Olympic Movement centered on consensus leadership. My speech was structured around three strategic imperatives that are in my manifesto; inspiring imagination, ensuring integrity and developing inclusion. 

    EXPERIENCE DEALING WITH HEADS OF STATE, AN ADVANTAGE?: Absolutely, yes. I think I’ve learned from the experience of not just learning how to deal with people, but by consensus. At the end of the day, all leaders are human beings, and the ability to find a common ground upon which you can build an understanding is a key benefit from the experience that I’ve had just being who I am. 

    DEALING WITH THE IOC’S BIGGEST CHALLENGE: One of the things we have to face and we have to deal with literally focuses on the issue of integrity. When you see the global community, the youth in particular have lost their trust in global institutions, and the IOC is a global institution, so we need to regain both the trust and the sense of relevance with the youth of this world. They are our future movement. And I think this is one of the key areas I would focus on as IOC president. 

    CONFIDENCE IN WADA DESPITE WITHDRAWAL OF US FUNDING: It’s not for me to comment on the policies of the United States. We (the IOC) are an institution that helped establish WADA and I think it has been doing a terrific job in dealing with the issue of doping. We’ve seen such a large reduction of doping incidents in the Olympic Games, and I think this means that they have been effective, and we will continue to support that. 

    DEALING WITH BOXING AHEAD OF LA28: I would love to see boxing back on the programme. It is one of the oldest Olympic sports, and I just hope that we can find a global Federation that can take on that responsibility of organising boxing in LA. 

    RUSSIA’S RETURN TO THE OLYMPIC MOVEMENT: There’s nothing I’d like more than to be able to have the whole world at the Olympic Games, I think that’s what our objective is. But I also recognise that there are certain limitations and concerns. Right now, to my understanding, the exclusion of Russian athletes is based on a violation of the Olympic Charter. As President of the IOC, my role and responsibility is to uphold the Olympic Charter. And as long as nobody is in violation, then there is no reason for sanctions. And I would very much like to find a mechanism where we can reintroduce Russia. The world is stronger when we are all together. And I think that is what the Olympic Games does.  

    MR DAVID LAPPARTIENT  

    PRESENTATION: I hope that I have convinced my colleagues that I can be a real leader for the IOC. 

    RUSSIA’S RETURN TO THE OLYMPIC MOVEMENT: Russia shouldn’t be indefinitely suspended by the IOC. This is a country of sport, so our objective would be to have them come back into the fold. However, there are reasons why the IOC suspended the NOC of Russia… So it is obvious then that these subjects should be dealt with before decisions can be taken.  

    THE OLYMPIC GAMES IN AFRICA: The IOC is on the five continents. Sport is universal, and African athletes are exceptional, but Africa has until today, never hosted the Olympic Games, they of course, are going to have the Youth Olympic Games. I suggest that the Olympics should take place in Africa, not fixing a specific date. But the idea is, nonetheless, that during this coming mandate or two mandates, we would like Africa to host the Olympic Games, because Africa deserves the Olympic Games.  

    BIGGEST CHALLENGE: One of the challenges will be the instability of the world. It’s becoming more and more difficult, and sure we’ll have some crises to face in the future. This is why we need to source strong leadership. Climate change is also an issue. We also saw what happened in the winter time in Los Angeles, and it’s also the result of climate change. Another key challenge will be digitalization. The world is completely changing, disrupting. But what I also tried to explain this morning is how we can turn all these challenges into opportunities. We have opportunities to bring the world together. This is what we want. This is our vision. This is the ideal of the Olympic movement. We can also properly address the issue of climate change. This is what Paris has done. We also have the potential Olympic Esports Games, that’s also a way to interact with the younger generation. We can also reach a wider audience with digitalization.  

    MR JOHAN ELIASCH 

    TRACK RECORD: In a world of division and disruption, we need hope more than ever before. I’m standing because I believe that I have a proven track record and experience to deliver. I have successfully run large international corporations, led important commercial and political negotiations across business, sport, media and entertainment, foreign affairs, technology, and a lot of areas. I’ve been very active in climate action, preserving millions of acres of rainforest. In the last four years, I’ve led the transformation of the International Ski and Snowboard Federation. We oversee more than half of the medal events in the Olympic Winter Games. So I think that’s a perfect and perfect trip for the presidency. I know what it takes to lead and drive change. This is not a popularity contest. 

    RUSSIA’S RETURN TO THE OLYMPIC MOVEMENT: The individual, neutral athletes programme works very well. And I think it’s very important, because no athlete can choose where they were born. And the athletes must never be weaponized for political purposes. So I believe in this programme, and that we should make sure that also for Milano-Cortina, this is something that all the winter federations will adopt. 

    WHAT NEEDS TO CHANGE: Of course, we have to put the athletes front and centre. And we need to make sure that they have the best experience before, during, and after the Games. We have a very fast-changing landscape when it comes to digital, and we have to stay ahead of the curve here. We have a responsibility and a very strong voice when it comes to sustainability and this is an area which is very close to my heart, so this will certainly be at the forefront of my agenda. We also need to make sure that we uphold the magic of the Olympic Games. There is a lot of competition from other events and other sports and we need to make sure that we’re the best. 

    ENGAGING SPONSORS: Well, sponsorship is much more than just sticking your name to something. It’s about partnership. And this area is also changing very fast. Activations, people expect more here. We need to make sure that we deliver, that these partnerships are value-added for our sponsors. We have an incredible brand. But in today’s day and age, we also have to make sure that these partnerships are as attractive as possible. 

    BALANCING FUTURE OLYMPICS IN AFRICA, INDIA OR THE MIDDLE EAST WITH SUSTAINABILITY COMMITMENTS: Here, for instance, the proposed rotation scheme of the Winter Olympics is very important. We have infrastructure in place to deliver the events. We need to make sure that we find solutions with the IFs to make sure that the capacity of investment is kept up. So we don’t have to retrace what already exists in places where it’s not going to go. Now, with the Middle East, with Africa, with India, it is essential that we are very strong and committed to no carbon impact on anything that we do. 

    MR JUAN ANTONIO SAMARANCH  

    THE IOC: I understand our organization as two different parts. On one hand, we are an extraordinarily big, large and efficient NGO – we distribute most of the money we generate in our business through the International Federation, National Olympic Committees and the organizing committees to the base of the world’s sports pyramid. So this is an NGO. Second, we need a powerful business machine to generate the necessary revenues to feed the NGO. So I have thrown my hat in the ring because I have significant experience on both sides. I’ve more than 25 years of experience in critical roles throughout the Olympic movement, and I’ve more than 25 years of experience in critical roles with my own company in the finance industry. 

    EMPOWERING IOC MEMBERS We must empower the members and ensure governance led by members and not by a selected few. 

    CHANGES In the 12 years of President Bach, we had to deal with so many complications and so many threats and managed to get the organization to move and evolve at a rapid pace. But that rapid pace of change that we implemented is no way near what is coming. I think we have a very important base, a very solid base, from the past, but the recipes of yesterday will not make it in the future. 

    LEGACY OF HIS FATHER, HELP OR HINDRANCE: My father left office 25 years ago and, as his son, I appreciate his legacy very much. His example is always with me, but the recipes of today have nothing to do with a presidency that ended years ago. Bear in mind, he joined the Olympic Movement more than 60 years ago. 

    PRESENTATION: I felt very good in the room, because I have something interesting to say, something I am passionate about. And I was so happy to have the opportunity to share that with my fellow members. So, it’s for them to decide. But my presentation is clear. I have a very clear programme. My manifesto is very much action-based and it leaves very little room for future surprises. 

    BIDDING PROCESS FOR OLYMPIC GAMES HOSTS: I think that we need to produce not a more traditional, but a better, new model that is more aligned to the current times, that would include a final decision in a significant participation of all IOC members. 

    MEDIA: I told my fellow IOC members this, ‘let’s refocus our relationship with the media. They are not our enemies. They are our allies.’ You (the media) shape the opinion of the world on the Olympic Games. This I intend, if I become IOC President, to maintain and you can hold me accountable for that if I am there. 

    MRS KIRSTY COVENTRY 

    THE OLYMPIC DREAM: My journey started as a nine-year-old girl watching the 92 Barcelona Olympic Games and just setting myself a dream and then finally realizing that dream in Athens getting to stand on the podium and win my first Olympic medal. In Athens, I won three medals and finally in my last event got to win the gold even though Zimbabwe was in a difficult situation. But when I got home to Zimbabwe, it was a time of three or four days of peace, so I really got to see the power of sport. 

    TODAY’S NINE-YEAR-OLD: The nine-year-olds in today’s world are not watching a television screen, they’re holding a phone and that phone is going to be their starting point to connect with us through online streaming platforms, and it’s going to be our chance to engage with them and ensure that we’re inspiring them, and to take it even further, we’re going to be developing and promoting applications that are going to allow them to train anywhere and everywhere in the world. And this is the world that we live in today, and let’s embrace it and walk that road together. 

    SUPPORTING AFRICAN ATHLETES: We need to find more ways of directly impacting and getting revenue to athletes before they become Olympians. That is generally the toughest thing most athletes find. From my own journey it was easy to get sponsorship once I’d won a medal. But getting to that medal was tough. 

    BACKING FROM BACH?: I have known President Bach since I came into the IOC, and I think being a fellow athlete, we share a lot of commonalities, a lot of common ideas and philosophies. But in this race, he’s the President. He has a vote, but he doesn’t vote, he chooses not to vote, and I do very firmly believe that he is being very fair to all candidates.  

    BEING A MOTHER OF A SIX-MONTH OLD AND A CAREER WOMAN: First and foremost, I want to be the best candidate to win, not just because of my gender or from where I come from. And I believe I’ve got a lot of expertise to bring to this role, to leading the organisation. 

    IT TAKES A VILLAGE TO RAISE A CHILD: When I was stepping into my ministerial role seven years ago, I was pregnant with my first baby girl and had to quickly learn how to navigate and be a woman with a career as well as a mom and a wife and everything else. And it can be done. I’m very lucky to come from Africa because culturally we know and we firmly believe that it takes a village to raise a child. 

    PROTECTING WOMEN ATHLETES: As a female athlete, you want to be able to walk onto a level playing field always. It’s our job as the IOC to ensure that we are going to create that environment, and that we are going to not just create a level playing field, but we’re going to create an environment that allows for every athlete to feel safe. Along the road. We’re going to learn lessons, and we’re going to get stronger and we’re going to make better rules and regulations.  

    LORD SEBASTIAN COE 

    PRESENTATION: I enjoyed this morning’s process. I hope I was able to communicate my love for the movement. It’s something that I genuinely feel I’ve been training for for the best part of my life, or at least since the age of 11, when my father bought me my first pair of running shoes. I hope I was able to convey that, but I’m also hoping that I was able to convey the core pillars of my manifesto, my commitments and my pledges. 

    SUSTAINING IOC REVENUE: The world has changed and we do have to change with it – I’ve been in the sports marketing world for 30 years. Primarily we do need to adopt an audience first approach, which is in essence, to give them what they want, when they want it, and where they want it. Above all, for National Olympic Committees of all shapes and sizes, of some of the smaller International Federations, to enjoy that with a barrier-free physical and digital experience. 

    BIGGEST CHALLENGE FOR THE IOC: The biggest challenge faced by the International Olympic Committee is no different, and it is not unique from any National Olympic Committee, any sporting organization, any club, private or public. It is how do you continue to excite and engage with young people, and how do you utilize, optimize fully the use of cutting edge technology? And we talk a lot about technology, we actually run the risk of sounding a little bit analog, because I don’t think there’s anyone in this room that hasn’t recognized that the organizations they work in, they deliver services in, have gone through that digital transformation. But I do think that engaging, exciting and challenging tomorrow’s generation is going to be critical, because it’s that cohort that is ultimately going to be your future sponsors, your future thought leaders, your future governments, your future politicians. And we need to create amongst that group of people a lifelong bond for sport. So even if they don’t remain in sport as coaches, administrators, communicators, we at least have the opportunity for them to assume leadership roles wherever they are, and really fundamentally understand the nature of sport, and it is only that way that we will raise sport to the top of government agendas. Engaging with young people is the key to unlocking so many of the other interdependencies. 

    ELECTION RULES: I’ve been in politics for a long time. I’ve found it a fairly unproductive process to pick a fight with the returning officer in the process. The rules are the same for everybody. I do think we need to review them, and I’m sure that whoever succeeds in March will want to look at that amongst other things too. 

    MR MORINARI WATANABE 

    OLYMPIC GAMES IN FIVE CONTINENTS: I propose to stage the Olympic Games in five cities on five continents at the same time. It would allow the IOC to offer the best possible conditions for each sport, to reduce the financial burden on host cities, to offer greater potential for broadcast and commercial opportunities, sustainability with reduction of travel, and alleviate other hosting problems like governmental restrictions and war.  

    POTENTIAL OF SPORT: Paris 2024 was a historic success, thanks to all the athletes, thanks to the leadership of President Thomas Bach and thanks to the excellent work of the Paris Organizing Committee. However, I believe that we should not be satisfied and that we must build on the success of these Games. Because, in contrast to the spectacular Olympic Games, the situation of the NOCs is far from strong. As FIG President, I have visited 162 countries. I have seen with my own eyes the situation of our sport in each country. As a result I saw the reality. Economically, these countries are not wealthy. In many countries, their relations with the government are not good. The presence of sport in each country is not high enough. I used to be a gymnast myself. That’s why I believe sport has even greater potential. To unleash that potential I propose that the Games be held on all five continents at the same time. 

    WORLD SPORTS ORGANISATION: I also envision upgrading the IOC into a World Sports Organization, like the World Health Organization. If the IOC continues and expands its activities, it would remain independent of politics and uphold the barriers of democracy, transparency, and gender equality. As a World Sports Organization we must contribute to society. We must make a new business for sports. My vision is not focused on only the Olympic Games. We must see a wider view for sports. Sports can contribute to society. I believe the 21st century industrial revolution will be driven by sports and healthcare. So, which organization is best placed to lead this transformation globally? It is the IOC. 

    BICAMERALISM: I am proposing a two-chamber system; a House and a Senate because many IOC members have very good ideas, even non-IOC members. We must take these ideas and listen to these opinions to develop sports. We have to be open. There are many professionals, athletes, royalty, politicians, lawyers, bankers, and many others. If we work together, we can do anything. Let’s open the door to a new era. 

    MIL OSI Africa –

  • MIL-OSI: RegEd Continues Expansion of Audit Management Capabilities in Support of FINRA’s Remote Inspections Pilot Program

    Source: GlobeNewswire (MIL-OSI)

    Raleigh, NC, Jan. 31, 2025 (GLOBE NEWSWIRE) — RegEd, the leading provider of RegTech enterprise solutions, has announced significant enhancements to its Audit Management solution to support the requirements of FINRA’s Remote Inspections Pilot Program, which began July 1, 2024. These enhancements enable firms to efficiently plan, track, and manage inspections—whether they opt into the pilot program or continue with traditional onsite inspections—while ensuring compliance with FINRA Rule 3110.18. 

    FINRA’s three-year Remote Inspections Pilot Program allows eligible firms to conduct branch office inspections remotely instead of through mandatory onsite visits, under specific conditions. Since the launch of the program in 2024, firms participating in the initiative have benefited from RegEd’s Audit Management solution, including Pilot Program enhancements, which has helped them efficiently conduct remote inspections while meeting compliance requirements. And as the industry’s only fit-for-purpose solution designed to meet the program’s requirements, RegEd will continue to ensure a seamless and effective approach to both remote and onsite inspections in 2025 and beyond. 

    Advanced Capabilities to Meet Dynamic Industry Requirements 

    With these enhancements, RegEd’s Audit Management solution enables firms to: 

    • Designate, track, and manage remote vs. onsite inspections. Firms can categorize and organize inspections based on their approach while ensuring clear tracking and reporting. 
    • Identify, remediate, and report on Significant Findings. Firms can define and track significant findings, ease the process of follow-up and management oversight, and ensure proper documentation. 
    • Enhance reporting flexibility. New features allow firms to meet quarterly regulatory reporting requirements under 3110.18, including tracking the number of onsite vs. remote inspections, findings, significant findings, and categories of significant findings. 
    • Leverage prior audit risk scoring for future risk assessments. Audit risk scores, past findings (e.g., WSP and recordkeeping violations), and historical data can be incorporated into pre-audit planning and scheduling. 
    • Access industry best practices for inspections. Firms can leverage RegEd’s Best Practices inspection module, developed in collaboration with leading industry inspection programs. 

    “Firms have each determined the right balance between onsite and remote inspections for their own inspection programs, and RegEd’s Audit Management enhancements ensure they have the tools to remain compliant and efficient—regardless of their approach,” said Adam Schaub, Vice President of Platform Product Management at RegEd. 

    For firms opting into the Remote Inspections Pilot Program, RegEd provides the necessary tools to manage remote inspections while meeting FINRA’s oversight and reporting requirements. For those continuing with onsite inspections, the solution streamlines scheduling, remediation, and compliance processes, making inspections more effective overall. 

    “The enhancements we’ve introduced help firms streamline their audit and inspection programs, whether they are conducted remotely or onsite,” said Rob Davis, Product Manager at RegEd. “By integrating advanced tracking, remediation, and reporting tools, we are equipping firms with the functionality they need to stay compliant while optimizing their inspection workflows.” 

    Commitment to Future Innovation 

    RegEd remains committed to supporting firms in both remote and onsite inspections with continuous innovation. Future updates will further enhance reporting flexibility, risk-based assessment tools, and automation capabilities to align with both FINRA’s Remote Inspections Pilot Program and broader compliance requirements. 

    About RegEd 

    RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients, including 80% of the top 25 financial services firms. 

    Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk. 

    Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients. For more information, please visit www.reged.com. 

    The MIL Network –

  • MIL-OSI USA: Brass: Week Three Under the Gold Dome

    Source: US State of Georgia

    The third week of the 2025 Legislative Session has wrapped up, and we’re staying focused on passing commonsense legislation that puts Georgia families, businesses and communities first.

    Last week’s snowstorm may have delayed budget hearings for a few days, but it didn’t slow us down. The General Assembly has been hard at work in joint sessions, carefully reviewing budget requests to ensure taxpayer dollars are spent wisely. Passing a balanced budget is not only our constitutional duty—it’s the foundation of a responsible government that serves its people.

    One of the most crucial budget proposals this session is Governor Brian P. Kemp’s plan to return $1 billion in surplus funds to taxpayers directly. Thanks to years of conservative budgeting and fiscal responsibility, we can give back to the hardworking Georgians who keep our state running. This is just part of the $2.2 billion in statewide allocations designed to benefit families, businesses, and communities across Georgia. I’m proud to support Gov. Kemp’s efforts to strengthen our economy by putting money back where it belongs – in the pockets of hardworking Georgia taxpayers.

    Another key priority is ensuring communities hit hardest by Hurricane Helene have the necessary resources to rebuild. Gov. Kemp has proposed $614.72 million in recovery funding, including $150 million for the Governor’s Emergency Fund to help with debris removal and housing assistance. Another $300 million will go to the Georgia Department of Transportation to restore roads and infrastructure. Many rural counties are still reeling from this storm, and we’re committed to ensuring they get the support they need to recover and move forward.

    I’m excited to share that March 9th—12th is Multiple Sclerosis Week at the Capitol. This week, however, the Senate was honored to have several representatives from the Multiple Sclerosis Society, including my mother, Linda Brass, in the Senate chamber. Each year, members of the Society join us to recognize this week and bring attention to the medical condition. I commend the advocacy work conducted by the Multiple Sclerosis Society and their funding of $1 billion in research funding.  

    Finally, I encourage students ages 12 to 18 to apply for the Senate Page Program. This is an excellent way for young people to see firsthand how the General Assembly works. If you know a student who might be interested, they can apply here.

    As always, I’m here to listen. If you have any questions, concerns, or ideas about our work at the Capitol, please don’t hesitate to reach out. It’s an honor to serve you, and I appreciate your trust as we work together throughout the remainder of the 2025 legislative session.

    # # # #

    Sen. Matt Brass serves as Chairman of the Senate Committee on Rules. Sen. Brass represents the 6th Senate District, which includes Coweta and Heard, as well as parts of Carroll County. He can be reached by email at matt.brass@senate.ga.gov

    For all media inquiries, please reach out to SenatePressInquiries@senate.ga.gov.

    MIL OSI USA News –

  • MIL-OSI Security: U.S. Attorney’s Office Collects Over $39 Million in Civil and Criminal Actions in Fiscal Year 2024

    Source: Office of United States Attorneys

    SYRACUSE, NEW YORK – United States Attorney Carla B. Freedman announced today that the Northern District of New York’s Asset Recovery Unit collected $39,262,324 in civil, criminal and forfeiture actions in Fiscal Year 2024. Of this amount, $14,085,025 was collected in criminal actions, $15,874,944 was collected in civil actions, and $9,302,354 was collected in asset forfeiture actions. 

    The Northern District of New York also worked with other U.S. Attorney’s Offices and components of the Department of Justice to collect an additional $18,995,733 in cases pursued jointly by these offices. Of this amount, $39,092 was collected in criminal actions and $18,956,641 was collected in civil actions.    

    The U.S. Attorneys’ Offices, along with the Department’s litigating divisions, are responsible for enforcing and collecting civil and criminal debts owed to the United States and criminal debts owed to federal crime victims. The law requires defendants to pay restitution to victims of certain federal crimes who have suffered a physical injury or financial loss. While restitution is paid to the victim, criminal fines and felony assessments are paid to the Department’s Crime Victims Fund, which distributes the funds collected to federal and state victim compensation and victim assistance programs.

    Additionally, forfeited assets deposited into the Department of Justice Assets Forfeiture Fund can be used to restore funds to crime victims and for a variety of law enforcement purposes.  In Fiscal Year 2024, $8,330,553 of the funds forfeited in prior years through criminal and civil judicial forfeiture actions in the Northern District of New York were applied to victim compensation. 

    United States Attorney Carla Freedman stated: “These are great results – every recovery of funds strikes a blow for justice. I created the Asset Recovery Unit shortly after I took office in 2021, and I am incredibly proud of its efforts to make sure that crime does not pay, that crime victims are compensated as much as possible, and that companies pay appropriately steep penalties when they defraud the government.”

    In May, $11.3 million was recovered as part of a civil settlement in United States ex rel. Elevation 33, LLC v. Guidehouse, Inc. and Nan McKay and Associates, for violations of the False Claims Act, for failing to meet cybersecurity requirements in a federally funded contract intended to ensure a secure online environment for low-income New Yorkers to apply for federal rental assistance during the COVID-19 pandemic.  Guidehouse and its subcontractor, Nan McKay and Associates, admitted as part of a settlement agreement that neither satisfied their obligation to complete the required testing of the web site used to house applicants’ information, and the site was shut down within 12 hours after certain applicants’ personally identifiable information had been compromised.

    In February, the Northern District of New York restored $4,950,440 in funds forfeited from Richard J. Sherwood and Thomas K. Lagan, who were sentenced to both federal and state prison for stealing approximately $11.8 million from the estates of three sisters who died.  These funds were initially forfeited by the government through its criminal prosecutions of Sherwood and Lagan, and were restored in 2024 to the victims of the fraud by the Attorney General and the Money Laundering and Asset Recovery Section of the United States Department of Justice.  The victims include churches, Ukrainian-American civic organizations, a local hospital and a local university scholarship fund. 

    In September, the U.S. Attorney’s Office recovered $1 million from Derek R. Schwartz, who was sentenced this summer to 72 months in prison for conspiring with former ValueWise CEO Michael T. Mann to defraud companies that loaned millions of dollars to ValueWise subsidiaries.  These funds will be distributed to two financing companies that were victims of a sophisticated, years-long scheme.

    The Asset Recovery Unit is an initiative that works to deprive criminals of the proceeds of crimes, recovers property that may be used toward restitution, and enforces collection of criminal and civil debts owed to the United States or to victims of federal crimes.  The Asset Recovery Unit is comprised of Assistant United States Attorneys Lisa Fletcher, Elizabeth Conger and Melissa Rothbart, Paralegals Joshua Goodfriend, Marianne Meigs, Carly Clay, Erin Hyatt, Jiselle Cabezas, and Teilor Kaiser Clarey, and Investigative Analyst Jason Babiarz.

    MIL Security OSI –

  • MIL-OSI United Kingdom: What has Brexit meant for the people of Scotland?

    Source: Scottish National Party

    With five years having passed since Scotland was dragged out of the EU as part of the UK, what has Brexit meant for people in Scotland?

    Brexit means…your weekly shop costs more than ever.

    Brexit means our NHS is missing out on thousands of doctors and nurses from the EU.

    Brexit means waiting in longer queues to travel abroad, and it has become much more difficult for anyone in Scotland to live or work in the EU – with touring musicians calling it a ‘catastrophe’.

    Scotland voted to stay in the EU.

    Scotland didn’t vote for Brexit.

    But the UK Government decided Scotland must Brexit.

    Brexit means there’s less public money, due to businesses losing revenue.

    Brexit means businesses who relied on buying goods from the EU, or selling to the EU, are having a really tough time of it.

    Thousands of businesses have had to close.

    Some politicians told us to  “vote No to stay in the EU” back in 2014. Bet they wish they could scrub those clips from the internet.

    Brexit means Scotland’s economy has lost out on billions of pounds due to trade barriers, with analysis showing exports have dropped by over 7%.

    Brexit means Nigel Farage is no longer the European Parliament’s problem. He’s now the UK’s problem.

    As he’s now the bookies’ favourite to be the next Prime Minister, he could soon be Scotland’s problem too.

    And Scotland didn’t vote for any of this.

    MIL OSI United Kingdom –

  • MIL-OSI USA: Welch to Serve as Ranking Member of Rural Development and Energy Subcommittee on Agriculture; Constitution Subcommittee on Judiciary

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)

    Welch well-placed to bring vital resources to rural communities, enforce and protect constitutional rights and liberties
    WASHINGTON, D.C. – U.S. Senator Peter Welch (D-Vt.) today announced that in the 119th Congress, he will serve as Ranking Member on the Senate Agriculture Subcommittee on Rural Development, Energy, and Credit, as well as the Senate Judiciary Subcommittee on the Constitution. Serving as Ranking Member on these subcommittees position the Senator to continue his work addressing issues that matter to Vermonters—including supporting rural development programs and bolstering buildout of renewable energy and rural broadband, in addition to protecting constitutional rights and civil liberties. 
    “I’m grateful for the opportunity to serve as Ranking Member on these subcommittees to elevate the voices of Vermonters, support our rural communities, and safeguard our most important freedoms.  
    “I will focus my work on the Rural Development Subcommittee on strengthening rural America’s economy, supporting our farmers, and cutting costs for families. That includes securing wins for Vermonters in the upcoming Farm Bill and fighting to restore the Affordable Connectivity Program, which is a vital lifeline that helps millions of people access and afford high-speed internet. All of us, whether from red or blue states, should agree that lowering costs and protecting our freedoms is a top priority.   
    “At a time when Americans’ basic rights are under attack, I’m also committed to fighting against every attempt to undermine our constitutional protections. As Ranking Member of the Constitution Subcommittee, I’ll fight to preserve the most important pillars of our democracy and lead efforts to protect civil rights and give the American people a more active voice in our democracy. I’ll also push back against executive overreach and any action the Trump Administration takes to undermine the separation of powers, which is vital to preserving our system of checks and balances. 
    “I look forward to working across the aisle and working to achieve bipartisan results with Subcommittee Chairs Ernst and Schmitt to deliver results for Vermonters.” 
    As Ranking Member of the Rural Development, Energy, and Credit Subcommittee, Senator Welch will play a key role in the preparation of the 2025 Farm Bill, working to deliver for Vermont families and uplift rural communities. The Rural Development Subcommittee also oversees many of the programs in USDA’s Rural Development mission area, including renewable energy, economic development, and housing, pressing issues for many Vermont communities. In his capacity as Ranking Member of the Constitution Subcommittee, Senator Welch will be a leading voice in and pushing back against attempts to undermine vital civil rights protections and enforcing separation of powers.  
    Senator Welch’s Committee and Subcommittee Assignments for the 119th Congress include: 

    Jurisdiction: Oversight of USDA’s Rural Development mission, including facilities, utilities, loans; Building out rural broadband; Advancing rural America’s access to affordable renewable energy. 

    Jurisdiction: Constitutional Amendments; Oversight of the Civil Rights Division of the Department of Justice; Enforcement and Protection of Constitutional Rights; Statutory Guarantees of Civil Rights and Civil Liberties; Separation of Powers; Federal-State Relations; and Interstate Compacts. 

    MIL OSI USA News –

  • MIL-OSI USA: Ricketts Announces Subcommittee Assignments for the 119th Congress

    US Senate News:

    Source: United States Senator Pete Ricketts (Nebraska)

    January 31, 2025

    WASHINGTON, D.C. – Today, U.S. Senator Pete Ricketts (R-NE) announced his subcommittee assignments for the 119th Congress.

    “President Trump’s re-election provides a historic opportunity to get our country back on track,” said Ricketts. “On these subcommittees, I’ll work to unleash American energy, extend the Trump tax cuts, and restore American strength on the world stage.”

    Banking, Housing, and Urban Affairs Committee

    • Member, Subcommittee on Economic Policy
    • Member, Subcommittee on Financial Institutions and Consumer Protection
    • Member, Subcommittee on National Security and International Trade and Finance

    Environment and Public Works Committee

    • Chairman, Subcommittee on Fisheries, Wildlife, and Water
    • Member, Subcommittee on Transportation and Infrastructure
    • Member, Subcommittee on Clean Air, Climate, and Nuclear Innovation and Safety

    Foreign Affairs Committee

    • Chairman, Subcommittee on East Asia, the Pacific and International Cybersecurity Policy
    • Member, Subcommittee on Europe and Regional Security Cooperation
    • Member, Subcommittee on State Department and USAID Management, International Operations and Bilateral International Development

    BACKGROUND

    U.S. Senate Committee on Banking, Housing, and Urban Affairs is responsible for matters related to banks and banking, price controls, deposit insurance, foreign trade promotion, export promotion and controls, and federal monetary policy. It has jurisdiction over financial exchanges, markets, and derivates, financial aid to commerce and industry, issuance of redemption of notes, and currency and coinage issues. Additionally, the Committee is responsible for public and private housing, urban development, mass transit, and government contracts. This includes oversight of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the U.S. Department of Housing and Urban Development (HUD), the Export-Import Bank, and the Federal Housing Administration.

    U.S. Senate Committee on Environment and Public Works is responsible for legislation and oversight of the natural and built environment and for studying matters concerning environmental protection and resource conservation and utilization. This includes oversight of the Environmental Protection Agency (EPA), the U.S. Army Corps of Engineers, and the U.S. Fish and Wildlife Service.

    U.S. Senate Committee on Foreign Relations is instrumental in developing, influencing, and overseeing U.S. foreign policy. The Committee considers, debates, and reports important treaties and legislation involving everything from foreign aid to arms sales to international organizations like the United Nations. It overseas the U.S. State Department and holds jurisdiction over all diplomatic nominations, including the U.S. Secretary of State. Ricketts will be the second highest ranking Republican on the Committee.

    MIL OSI USA News –

  • MIL-OSI USA: Armstrong: Senate confirmation of Burgum as Interior Secretary is good for North Dakota and the nation

    Source: US State of North Dakota

    Gov. Kelly Armstrong released the following statement today after the U.S. Senate voted to confirm former Gov. Doug Burgum as Secretary of the Interior, making him the second North Dakotan to hold the position. Armstrong reached out to Burgum to congratulate him on his confirmation.

    “The strong support Governor Burgum received throughout the confirmation process speaks volumes about his unique qualifications to serve as Secretary of the Interior,” Armstrong said. “His background in energy, tribal relations, national parks and other public lands makes him the right person at the right time to lead the Department of the Interior, which touches every aspect of our lives in North Dakota. Doug understands that safe, responsible development of our nation’s abundant natural resources is key to curbing inflation, growing the economy and paying down our national debt for future generations. He will be an incredible asset to the Trump administration and, as chair of the National Energy Council, will help usher in a new era of U.S. energy dominance that benefits all Americans with reliable, affordable power.”

    As Interior Secretary, Burgum will lead the U.S. Department of the Interior, a Cabinet-level agency that manages the nation’s natural and cultural resources. The department employs approximately 70,000 employees in 11 technical bureaus: the National Park Service, U.S. Fish and Wildlife Service, U.S. Geological Survey, Office of Surface Mining Reclamation & Enforcement, and the federal bureaus of Indian Affairs, Indian Education, Land Management, Ocean Energy Management, Reclamation, Safety & Environmental Enforcement, and Trust Funds Administration. The department provides access to more than 500 million acres of public lands, 700 million acres of subsurface minerals, and 1.7 billion acres of the Outer Continental Shelf.

    Trump also has appointed Burgum to chair the newly created National Energy Council. As chairman, Burgum will also have a seat on the National Security Council.

    Burgum is the first native North Dakotan to lead a U.S. Cabinet agency since former Gov. Ed Schafer led the U.S. Department of Agriculture in 2008-2009 and the second North Dakotan to serve as Interior Secretary. Kintyre, N.D., native Tom Kleppe served as Interior Secretary in 1975.

    MIL OSI USA News –

  • MIL-OSI USA: New Hampshire Congressional Delegation, Community Organizations and Granite Staters Speak Out About Devastating Impact of Trump’s Cut to Federal Grants and Loans

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen
    (Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH), a senior member of the U.S. Senate Appropriations Committee, U.S. Senator Maggie Hassan (D-NH), as well as U.S. Representatives Chris Pappas (NH-01) and Maggie Goodlander (NH-02), joined Manchester School District Superintendent Jennifer Chmiel, Strafford County Community Action Partnership CEO Betsey Andrews Parker, Amoskeag Health CEO Kris McCracken, Professional Firefighters of NH and other New Hampshire organizations for a virtual event to outline the ways that President Trump’s halt of nearly all federal grants and loans is impacting New Hampshire families and communities. 
    You can watch the full press conference here.
    “We’ve got millions of people across the country, and thousands in New Hampshire, who have no idea if they’re going to be able to get the services that they’re depending on because the White House has been so confused about what they’ve done and they haven’t been able to issue any clear answers,” said Senator Shaheen. “We need to see the President repeal these executive orders because what he has done is not going to help people lower their food prices, pay their rents, get the child care that they need or the health care that they need for their families.”
    “President Trump’s illegal cut of federal funds includes grants for police officers, firefighters, our efforts to crackdown on fentanyl, special education programs, small business loans, community health centers, homeless shelters for veterans…virtually every aspect of American life. The White House keeps sowing chaos and confusion about the status of this funding. But make no mistake. People’s safety, their jobs, their health, our fire and police departments…shouldn’t hang in the balance subject to the confused wordings and impulsive whims of the next tweet or memo,” said Senator Maggie Hassan.
    “The actions taken by the Trump Administration to freeze federal funds will have a devastating impact on communities across New Hampshire and will significantly hurt our state’s ability to address housing concerns, fight addiction, preserve public safety, and make sure that Granite Staters have what they need. These federal funds are more than just lines on a spreadsheet in Washington D.C. This is about people here in New Hampshire and the ability of our communities to come together to help those in need and build a stronger future for us all. This fight is not over, and my message to Granite Staters is that we will do all that we can to protect these resources and ensure that our communities remain healthy, strong, and safe,” said Congressman Pappas.
    “This week I’ve traveled across the Second District — from the North Country to Nashua and from Keene to Concord. I’ve talked to our workers, teachers, police officers, firefighters, health care providers, small businesses, mayors, and town managers. The through line of every conversation has been an intense concern about the wide-ranging and devastating impacts that losing the federal funding promised to New Hampshire will have on our way of life,” said Representative Maggie Goodlander. “Real people right here in New Hampshire are paying the price for President Trump’s lawless, chaotic efforts to cut off federal funding. That is unacceptable. I will never stop fighting with every possible tool to deliver for New Hampshire.”
    “Our priorities have not changed.  We will continue to provide services to our clients and support our team until we are directed otherwise.  We will adapt to the changing landscape so clients that depend on our agency for services such as childcare, fuel assistance, transportation, and food can continue to access these resources. We greatly appreciate the support of the New Hampshire delegation during this challenging time.” said Betsey Andrews Parker, CEO Community Action Partnership of Strafford County.
    “The Portsmouth Police Department depends on federal grants to fund programs impacting local, seacoast, and statewide communities. Locally, federal grant funds are utilized for bulletproof vests for officers and enforcement patrols on our roadways, which include speed, distracted driving, DUI, and pedestrian/bike enforcement. With the help of federal dollars, we offer victim witness advocate services, staff training, and law enforcement equipment such as body-worn cameras and investigative equipment… the loss of these funds would reduce staff, significantly impact investigations into internet-based sexual crimes against children that have skyrocketed and continue to climb, and impact services for victims of crime, roadway safety, and the safety of our officers,” said Mark Newport, Chief of Police, Portsmouth Police Department in a letter.
    “Uncertainty makes development difficult. While we work in a field rife with uncertainty, we know we can rely on our funding sources to be steady, when we have the funding we can move forward. It upsets our ability to commit to community projects when we cannot know whether or not the funding we have been awarded to build housing will actually be available to us when the time comes to call on those funds. In a relatively high-risk development environment, in a critical need area for our communities, we need the federal funds to be stable. Being left without promised funds on a project could easily mean the financial collapse of the project, a loss of years worth of time and effort. Depending on the projects size, it could have a major impact on our ability to operate,” said Harrison Kanzler, Executive Director, AHEAD Inc.
    “As NH’s only center for independent living, serving thousands of individuals living with a disability, the consequences of EO-M-25-13, would have caused thousands of Granite Staters living with a disability to be left without critical services.  These services are in place to provide and assist with daily needs, including transportation, personal care, education, and workforce training.  The very services provided by GSIL and funded by federal grants, such as benefits counseling, workforce readiness, and transition services are an integral part in the promotion of living independently,” said Deborah Ritcey, MPA/HA, President & Chief Executive Officer, Granite State Independent Living (GSIL).
    “As a private non-profit community development corporation that is focused on providing affordable housing for granite staters, we have worked with numerous federal programs over the past thirty years, and the one thing we need to keep doing our work is consistency and reliability.  So when we are faced with distractions that cause chaos and confusion throughout our sector, it makes the difficult work of building affordable housing even that much more challenging,” said Robert Tourigny, Executive Director, NeighborWorks Southern New Hampshire.
    “While we were relieved that the Administration intended to exclude rental assistance from the spending freeze, funding that we rely on to provide self-sufficiency services to working families, build new affordable housing, and reduce our energy costs were all targeted. On behalf of the nearly 930 senior, disabled and working families we serve, we are grateful to all of the individuals, organizations and elected officials across the country for their advocacy,” said Joshua Meehan, Executive Director, Keene Housing.
    “Federal funding is a lifeline for Community Health Centers, which deliver comprehensive primary care, mental and behavioral health, dental, and other essential primary care services to over 330,000 patients across New Hampshire and Vermont. With the uncertainty around the status of health centers’ federal grant funding, we are extremely concerned about the ability of their patients to access the services they need,” said Tess Kuenning, President & CEO of Bi-State Primary Care Association.
    “Ammonoosuc Community Health Services is a federally qualified health center that integrated primary preventive services in the rural White Mountains of Northern New Hampshire to nearly 10,000 patients a year, across five strategically located care delivery sites. In fact, we serve 1 out of every 3 residents within our service area.  Our patients receive care that is nationally recognized.  Our outcomes for patient with depression or diabetes exceeds national healthy people goals since 2009, top two FQHC for colorectal cancer screening (2018), top 16 FQHC in overall cancer screening (2023).  All accomplished in a financially responsible manner where our annual financial audit has always been free of any concerns and 95% of our patients recommend us to friends, family and neighbors who need care. All in all we govern ACHS in a responsible and predictable manner.  As an FQHC we provide services to everyone, regardless of social and economic status. The President’s unprecedented and unannounced freeze on nearly all federal funding meant an immediate freeze on nearly $180,000 in monthly drawdown payments and catapulted my staff into 24 hours of uncertainty and chaos while we tried to get clarification from the administration. Clarification that never came. This type of governing is categorically not a responsible way to govern, has real world impacts, and wasteful in diverting critical resources away from our core mission of providing outstanding health care services to those in our community who need it most. As the CEO and steward of ACHS, The People’s Health Center, I take responsible governance seriously and I expect those elected by the people to take their responsibility seriously as well,” said Ed Shanshala, CEO, ACHS.
    On Wednesday night, Shaheen spoke on the Senate floor to condemn the Trump administration’s order to take away federal grants and loans that families, seniors and small businesses in all 50 states rely on for critical, often life-saving services. Shaheen illustrated the chaos caused by the extreme order by sharing the stories of many Granite Staters she has heard from in the past two days.
    On Monday, the Trump administration’s Office of Management and Budget (OMB) announced a sweeping executive order pausing almost all forms of federal assistance to states, nonprofits, non-governmental organizations and more. Senator Shaheen immediately condemned the move and emphasized the impact it will have on communities. The full list that agencies were directed to review encompasses over 2,600 assistance programs, including Supplemental Nutrition Assistance (SNAP), Women, Infants and Children (WIC), community health centers, the Community Development Block Grant (CDBG), transportation and highway funding, energy assistance programs, water infrastructure funding, State Opioid Targeted Response grants, GI Bill, veteran compensation for service connected disabilities, Section 8 housing vouchers, school breakfast and lunch, Title I education grants, Temporary Assistance for Needy Families (TANF) and Head Start.

    MIL OSI USA News –

  • MIL-OSI: Humans Group 2024 Financial and Operational Results: Fintech Service Humans Pay is a Key Growth Driver with 60% YoY Revenue Increase

    Source: GlobeNewswire (MIL-OSI)

    Humans Group recorded significant growth across all key metrics: turnover, revenue, and customer numbers. The active user base of its super app ecosystem grew to over 2.3 million people by the end of 2024, a 28% year-on-year increase.

    TASHKENT, Uzbekistan, Jan. 31, 2025 (GLOBE NEWSWIRE) — The Humans Group of companies has published its final report on its activities in Uzbekistan for 2024. Turnover reached UZS 17,777 billion, and gross revenue totaled UZS 515.4 billion. Net revenue increased by 9.82% compared to the previous year.

    Ecosystem Growth

    The Humans super app provides unique, market-leading services for the Uzbek market. It combines mobile services, a fintech service called Humans Pay, Humans Yaxshi, a grocery delivery service from local markets, and Humans Market, a marketplace for buying everyday goods. The ecosystem also includes a cashback program.

    The active customer base of the Humans ecosystem is steadily growing, providing a positive outlook for further market expansion. At the end of 2024, the customer base of the Humans ecosystem exceeded 2.3 million users, reflecting a 28.01% increase compared to 2023.

    Customers are increasingly using the Humans app as a super app to meet their daily needs. As of December 2023, nearly 88% of customers active within the past 30 days used only mobile services. By September 2024, this share had decreased to 84.6%. Currently, more than 1.25 million customers are combining at least two services within the super app.

    Vlad Dobrynin, CEO and founder of Humans Group, said: “The addition of new services to the ecosystem consistently leads to an increase in the number of active users and a rise in transaction frequency. In 2025, we plan to offer new convenient products to our customers, such as a ‘buy now, pay later’ service and a microloan service.”

    “We will also launch a social platform for targeted peer-to-peer assistance to those in need. Further, we will continue to expand the range of products in the Humans Market marketplace and increase the Humans Yaxshi delivery area to 50 cities in Uzbekistan.”

    Humans Pay: A Key Driver of Net Revenue Growth

    Fintech remains one of the main drivers for the development of the Humans super app. Net revenue of the Humans Pay payment and transfer service reached UZS 133.1 billion in 2024, an increase of 59.98% compared to 2023. The number of unique clients of the Humans Pay service exceeded 701,410 in the first three quarters of 2024, a 21.27% increase compared to the same period in 2023.

    Alongside user growth, there has been a corresponding increase in transactions. Clients are using the Humans Pay service more frequently, making more transactions, and transferring larger amounts of money. In the first three quarters of 2024, the total volume of card-to-card transfers increased by 151.6% year-on-year, while the number of transactions per active user rose by 62.15%.

    Humans Mobile: Customers Choose Unlimited Internet

    The telecom service is also reaching an increasingly larger share of the Uzbek population. The number of active telecom clients of Humans surpassed 1.56 million in 2024. Among them, 279,200 are already using unlimited internet packages, a 78.55% increase compared to last year.

    “In 2024, Humans demonstrated double-digit growth in almost all key performance indicators. We significantly strengthened our position in the telecom business and confirmed the effectiveness of our strategy aimed at transitioning telecom service users to an ecosystem product,” added Vladimir Dobrynin.

    Despite the impressive growth figures, the potential for growth in the Humans Pay fintech service has been slowed by the unprecedented actions of the Central Bank of Uzbekistan and the biased, discriminatory policies of the regulator. The Humans team did everything possible to support the growth of the ecosystem and, most importantly, to continue driving development,” noted Vladimir Dobrynin.

    Customer Support: AI Sets New Service Standards

    The quality of customer service is a high priority for Humans. Today, 92% of user inquiries are resolved on the first contact with the call center by phone, and 91% on the first contact via chat. However, to deliver ever superior standards of customer care in 2024 Humans Group implemented an AI-based personalized offer system.

    The platform selects the most relevant services for the customer based on their request, for example, mobile service plans. This ensures call center operators recommend only relevant and optimal services for customers, saving their time. As a result, the AI platform simultaneously improves communication efficiency and user satisfaction.

    Team: The “Daily Pay” Project as an Element of Social Responsibility

    Reflecting Humans Group dedication to corporate social responsibility and employee well-being, in 2024 the company introduced a ‘Daily Pay’ system for its customer support employees. This system rewards staff with bonuses the morning after they have hit daily targets.

    The speed of this remuneration is unprecedented and provides team members with confidence in their financial planning, leading to increased motivation, engagement, and job satisfaction. The system had previously been trialled, with enormous success, across the Humans retail network among salespeople, supervisors, and couriers.

    About Humans

    Humans.uz is a super app that combines the fintech service Humans Pay, mobile communication services Humans Mobile, the grocery delivery service from bazaars Humans Yaxshi, and the product marketplace Humans Market. The project was launched in June 2020 in Uzbekistan as part of the Humans Group operations which also includes the employee search platform Humans.net in the USA. The group’s offices are located in the USA, Uzbekistan, Poland, Singapore, and Germany.

    Website

    https://humans.uz/en/

    Contact

    Natalia Ikonnikova
    pr@humans.net

    Disclaimer: This content is provided by the Humans. The statements, views, and opinions expressed in this column are solely those of the content provider. The information shared in this press release is not a solicitation for investment, nor is it intended as investment, financial, or trading advice. It is strongly recommended that you conduct thorough research and consult with a professional financial advisor before making any investment or trading decisions. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/62483b00-501d-4c1f-b4b9-9e26fbafe651

    The MIL Network –

  • MIL-OSI United Kingdom: Government going further and faster to bring growth to Wales

    Source: United Kingdom – Executive Government & Departments

    The Chancellor has committed to going further and faster to put more money in working people’s pockets across Wales.

    HM Treasury

    Working people and businesses across Wales are to benefit from reforms to drive investment and get Britain building. The Chancellor has committed to going further and faster to put more money in working people’s pockets across Wales and deliver on the UK Government’s Plan for Change. 

    Below sets out specific benefits for Wales as a result of the Chancellor’s decisions today (29 January).

    Wrexham and Flintshire Investment Zone 

    • Having confirmed funding for the Investment Zones programme at Autumn Budget, the government can now confirm that the Wrexham and Flintshire Investment Zone (IZ) will focus on advanced manufacturing.
    • There are major international businesses in the region including JCB and Airbus, which the IZ will support, as well as the wider advanced manufacturing supply chain in the region. At present the IZ is expected to generate £1bn of private investment, creating up to 6000 new high quality jobs.
    • The IZ’s interventions will be focused around sites in: 
      • Deeside and Deeside industrial estate which houses Tata Steel and Toyota; 
      • Hawarden Airport, where Airbus are based; 
      • Llay Industrial Estate – which houses a number of key aerospace businesses; and 
      • Wrexham Industrial Estate – which houses a wide range of advanced manufacturing business, including JCB. 

    Sustainable Aviation Fuel

    • The UK government is investing £63m into the Advanced Fuels Fund in 2025-26 and has today set out the details of how it will deliver a Revenue Certainty Mechanism to encourage investment into this growing industry. These measures will encourage more investors to back production in the UK, bringing good, high-skilled jobs to areas like South Wales.

    Inactivity Trailblazers

    • Getting more people back into work is crucial if we want a dynamic economy, and it is good for jobless people too. Over nine million people are inactive, of which a record 2.8 million people are out of work due to long-term sickness. The outdated employment support system is ill equipped to respond to this growing challenge.
    • We have committed £240m of investment towards 16 trailblazers including one for every MCA and one in Wales to tackle the root causes of inactivity, eight of which will be used to support the Youth Guarantee, the remaining eight will be focused on tackling health-related inactivity.
    • The Inactivity trailblazers will be delivered across Wales.

    National Wealth Fund Support

    • The government remains committed to working in close partnership with the Welsh Government through the National Wealth Fund to maximise investment opportunities to deliver growth in all corners of the UK.

    Welsh Secretary Jo Stevens said:

    I’m delighted that we are moving forward with the Investment Zone for Wrexham and Flintshire with £160 million from the UK Government to drive economic growth in advanced manufacturing.

    In December I met leaders from the advanced manufacturing sector at Toyota in Deeside and visited two hugely successful supply chain businesses. I saw the huge potential for growth and for building on the talent and expertise that already exists in this part of Wales.

    This Investment Zone will super-charge economic growth, create up to 6000 new jobs and generate £1bn of private investment which will have a transformational impact for people living and working in northeast Wales.

    The Chancellor is also reviewing the Treasury’s investment guidance in the Green Book to ensure it is being used to provide objective, transparent advice on public investment across the country, reporting at Phase 2 of the Spending Review.

    Pushing forwards with strategic infrastructure and investment across all four corners of the UK is key to delivering the UK Government’s Growth Mission. Bringing the productivity of major cities to the national average would deliver an extra £33bn in economic output, and measures set out today extend beyond this to kickstart a decade of national renewal.

    This is just the start, and further regional growth announcements will follow through the year. The government is hardwiring plans for regional growth into the Spending Review, and into plans for infrastructure, investment and the industrial strategy. The UK Government is also working with the Welsh Government to ensure the benefits of growth can be felt across Wales, including by partnering on the Industrial Strategy to support Wales’s considerable sectoral strengths.

    Tim Knowles, Founder and Managing Director of FI Real Estate Management, said: 

    As an investor in Wrexham for almost 20 years, we’re delighted to see the announcement that Wrexham and Flintshire will receive Advanced Manufacturing Investment Zone status, with three of our schemes on Wrexham Industrial Estate – Wrexham 1M, Wrexham 152, and Bridgeway Centre – forming part of the designated zone.

    Across these sites, we’ll be investing £115m to create new, high-quality industrial accommodation, supporting the creation of over 1,000 new jobs and delivering an estimated economic value of £1.2bn in Wrexham over the next 10 years.

    This is a significant milestone for North Wales, and we look forward to working in partnership with stakeholders to leverage this opportunity for strategic investment in the area, helping to supercharge the region’s advanced manufacturing sector.

    In collaboration with local authorities and wider stakeholders, we need to ensure that we capitalise on all the opportunities this moment brings. We’ve long recognised the potential for North Wales to become a thriving hub for innovation, and we’re excited that our developments can play an important part in this next chapter.

    Mark Turner, JCB’s Chief Operating Officer said:

    JCB has been a prominent feature of the industrial and economic landscape in Wrexham and Flintshire for over 45 years. Innovation is the lifeblood of our business and we welcome the creation of an Investment Zone in North Wales and hope that it will attract many other businesses to the area. As an advanced manufacturer of precision engineering components, JCB Transmissions looks forward to other advanced manufacturing businesses coming to the area. This could go a long way towards building the supply chain resilience of existing manufacturing businesses in the area, such as JCB.

    We place a lot of values on skills in our business and we look forward to the Investment Zone positively supporting skills development in the future. JCB continues to invest in our business in Wrexham and today’s IZ announcement bodes well for the economic development of the area in the future.

    Updates to this page

    Published 31 January 2025

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: London ETO celebrates Year of Snake and promotes liquor trade in Scotland

    Source: Hong Kong Government special administrative region

         â€‹The Hong Kong Economic and Trade Office, London (London ETO), in collaboration with the China-Britain Business Council (CBBC), hosted the “Toast to the Snake” reception in Glasgow, the United Kingdom (UK), in the evening of January 30 (London time) to celebrate the Year of the Snake.

         Speaking at the reception, the Director-General of the London ETO, Mr Gilford Law, highlighted Hong Kong’s unique advantages under “one country, two systems” including the common law regime, the free flow of capital, people and information, and policy support from the Mainland. Mr Law emphasised that those strengths did not go unnoticed. He said, “Hong Kong saw a record number of 9 960 non-local companies operating in the city last year, representing a 10 per cent year-on-year increase, with 720 of them coming from the UK. The International Monetary Fund had also reaffirmed Hong Kong’s position as an international financial centre and recognised the resilience of the city’s financial system.”

         Around 270 guests from the business, academic and cultural sectors as well as the Chinese community attended the reception. Among the guests were the Minister for Business of the Scottish Government, the Lord Provost of the City of Glasgow, and the Consul General of the People’s Republic of China in Edinburgh.

         In the morning of the same day, the London ETO and Invest Hong Kong sponsored CBBC’s China Consumer Scotland 2025 event, featuring among others a panel discussion on the opportunities arising from Hong Kong’s reduction of liquor duty as announced in “The Chief Executive’s 2024 Policy Address”. Mr Law highlighted in his welcome speech that various high value-added sectors, such as logistics and storage, tourism as well as food and beverage would also benefit from this new measure. He encouraged Scottish brands to grasp this opportunity.

         Speaking at one of the panel discussions, the Head of Business and Talent Attraction/Investment Promotion of the InvestHK London Office, Ms Daisy Ip said, “Hong Kong boasts a thriving premium spirits market and a diverse range of high-end bars and dining establishments, making it a significant growth market for spirits. The city offers well-developed cold chain logistics services, robust logistics networks, and seamless connection with the Mainland and key Southeast Asian markets. Hong Kong can serve as Asia’s hub for liquor trade and distribution.”

         The China Consumer Scotland 2025 event was attended by close to 50 business representatives who were related to the spirits industry or interested in the opportunities in the Chinese market.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Prosafe SE: Fourth-quarter results 2024

    Source: GlobeNewswire (MIL-OSI)

    (Figures in brackets refer to the corresponding period last year)

    31 January 2025 – Prosafe SE reported EBITDA of USD 4.9 million (negative USD 2.7 million) for the fourth quarter of 2024. The company had four active vessels during the quarter.

    Operations and HSSE

    • Good operating and safety performance on all vessels
    • 57% utilisation (50%), four out of seven vessels operating during the quarter
      • 100% utilisation on the operating fleet in Brazil and US Gulf of Mexico
    • Strong commercial performance during 2024 with 44% increase in backlog from prior year
      • Backlog of USD 370 million (USD 238 million)
      • Safe Zephyrus extension to Q3 2027 finalised, adding USD 109 million to backlog
      • Contracts for Safe Boreas and Safe Caledonia plus Safe Concordia contract extension

    Q4 financials

    • Revenues of USD 37.0 million (USD 29.6 million) and EBITDA of USD 4.9 million (negative USD 2.7 million)
    • Cash flow from operations of nil (USD 3.8 million) due to Safe Boreas and Safe Caledonia SPS/reactivation
    • Capex of USD 8.0 million (USD 4.8 million)
    • Liquidity position of USD 46.8 million with expected runway to mid-2025, compared to USD 63.5 million at end Q3 2024 and USD 74.6 million at year-end 2023
    • Refinancing expected to complete H1 2025, likely to include equity component in form of debt for equity conversion and/or equity injection as part of the overall structure

    Market and outlook

    • Brazil market strengthening with new tenders for up to 6 units
    • North Sea operators continue to plan for future campaigns
    • Increased backlog and improved outlook create a platform to strengthen liquidity and achieve a sustainable capital structure

    See Q4 presentation for further details

    Terje Askvig, the CEO of Prosafe, says, “The global accommodation market continues to strengthen led by growing demand in Brazil, in line with expectations. The new long-term Petrobras tenders may absorb further capacity from outside Brazil on top of units already in the country. Prosafe stands to benefit as the market leader in Brazil. Improved market fundamentals, increased backlog and high operational efficiency support our expectations of future earnings growth and provide a robust foundation for establishing sustainable capital structure prior to 2025 maturity.”

    Presentation 

    Terje Askvig, CEO, and Reese McNeel, CFO, will present the results at Pareto Securities, located at Dronning Mauds gate 3, 0115 Oslo, on 3 February 2025 at 10:00 CET.

    This presentation is open to the public and will be live-streamed on Prosafe’s website.

    https://wwww.prosafe.com

    It will be possible to ask questions during the presentation by using the Q&A tool embedded in the audiocast. These questions will be answered after the presentation.

    A replay of the audiocast will be made available on Prosafe’s website shortly after.

    The Q4 2024 press release and presentation is attached and can be downloaded from https://www.prosafe.com and www.newsweb.no (https://www.newsweb.no). The 2024 annual report will be published 30 April 2024.

    Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com (https:///www.prosafe.com)

    For further information, please contact: 

    Terje Askvig, CEO Phone: +47 952 03 886

    Reese McNeel, CFO Phone: +47 415 08 186

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

    Attachments

    The MIL Network –

  • MIL-OSI United Kingdom: Committee to consider proposals for early engagement on possible Visitor Levy

    Source: Scotland – City of Perth

    The Council’s Economy and Infrastructure Committee will next week be asked for approval to begin early engagement on the possibility of a Perth and Kinross Visitor Levy Scheme, with a view to allowing elected members to make a decision informed by local feedback at the end of this year.

    The Visitor Levy (Scotland) Act 2024 grants local authorities the power to introduce a levy on overnight accommodation, with the funds raised reinvested locally to enhance the visitor experience.

    While a scheme like this could create significant opportunities for local investment, Councillor Eric Drysdale, Convener of Economy and Infrastructure, explained the importance of first listening to residents and leaders in the tourism industry locally.

    Councillor Drysdale said: “It’s really important to be clear that the question to committee next week is not about whether or not to introduce a Visitor Levy Scheme, it’s about getting the support to start speaking to those most affected about what would need to be taken into consideration. The feedback from this early engagement is essential to make sure that we are able to make an informed decision before committing to the approach in Perth and Kinross.”

    Tourism is a significant part of the Perth and Kinross economy, but with high visitor numbers there is also an impact on our local communities.

    Councillor Drysdale added: “While visitors bring significant benefits to our local economy, there are also associated costs. The Council introduced the Visitor Rangers service because we recognised that investment was needed to support responsible tourism, and minimise the impact of visitors on our year-round residents.

    “With growing demands for critical services to protect health and social care, support pupils with additional support needs, and tackle poverty, we have a duty to explore any opportunities for additional sources of income which can be invested to support growing our visitor economy. That would then allow core funding to be focused on the services which are needed by the most vulnerable people in our communities.”

    If approved by committee the early engagement process will last between 6 and 10 months. A full report from the feedback received, along with a draft Visitor Levy Scheme developed during the engagement, would then be presented to councillors in December 2025 to consider whether or not to proceed with introducing a scheme. If approved in December, a statutory consultation period of 12 weeks and then an 18-month implementation would follow. As a result, the earliest possible date for a scheme being introduced would be Summer 2027. 

    MIL OSI United Kingdom –

  • MIL-OSI Russia: IMF Executive Board Concludes the 2024 Article IV Consultation with the Republic of Kazakhstan

    Source: IMF – News in Russian

    January 31, 2025

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the 2024 Article IV consultation[1] with the Republic of Kazakhstan on a lapse of time basis on November 27, 2024.

    After reaching 5.1 percent in 2023, Kazakhstan’s economic growth has remained robust in 2024, and inflation has continued to decline gradually. The banking sector remains resilient amid continued rapid consumer credit growth. In the medium term, growth is projected to stabilize at about 3½ percent, while inflation would ease further and reach its 5 percent target by 2028.

    The National Bank of Kazakhstan has maintained a prudent monetary policy in light of persisting inflation pressures from increased energy tariffs and fiscal underperformance: as of September 2024, tax revenues were only 60½ percent of the 2024 budget plan, implying an expansionary fiscal stance. The macroprudential policy and risk-based supervisory frameworks are being strengthened in line with the 2023 FSAP recommendations.

    Structural reform implementation remains slow, with the state footprint growing in some areas, while higher economic growth, diversification and resilience will be important in the current environment, including to address increasingly pressing challenges from climate change.

    Executive Board Assessment[2]

    In concluding the Article IV consultation with the Republic of Kazakhstan, Executive Directors endorsed the staff’s appraisal as follows:

    Robust economic growth and disinflation have continued this year. Growth is projected at 3.9 percent in 2024 due to broad-based acceleration of economic activity in the second half of the year. Inflation is expected to reach 8.2 percent, still above its 5 percent target, as the pace of disinflation has slowed this year due to increased domestic energy tariffs and an expansionary fiscal policy. On the external front, a moderate current account deficit is expected in 2024, and the external position is assessed as moderately weaker than implied by economic fundamentals and desirable policies.

    Risks to the outlook remain tilted to the downside. They include external risks from a slowdown in major economies, an intensification of regional conflicts, secondary sanctions, and higher commodity price volatility or export pipeline disruptions. On the domestic front, key risks are delays in large infrastructure projects in the short term, failure to reintroduce fiscal discipline which could fuel inflation pressures, and a resurgence of social tensions. Upside risks include accelerated reform implementation, higher oil prices, and stronger foreign investment in new sectors.

    Monetary policy should remain tight until inflation is close to target, and its effectiveness could be further strengthened. The combination of robust growth, slowing disinflation, and an uncertain outlook justify continued monetary policy prudence. In order to enhance the National Bank of Kazakhstan (NBK)’s institutional independence and monetary policy effectiveness, its governance and legal framework can be further improved, and the NBK should refrain from foreign exchange interventions in the absence of disorderly market conditions.

    Recurrent fiscal underperformance requires measures to avoid fiscal procyclicality and strengthen the fiscal policy framework. Such measures would also help to meet the authorities’ objective of fiscal consolidation and maintain a balanced external position. Priorities are to improve macro-fiscal forecasts and budget planning, and to use the introduction of new tax and budget codes as opportunities to enhance non-oil revenue mobilization, including through gradual VAT rate increases, and spending efficiency. Fiscal policy effectiveness also requires public sector data that are better aligned with international standards and a more rules-based and transparent policy framework, including by reducing off-budget spending and the continued reliance on discretionary transfers from the National Fund.

    The banking sector remains resilient and rapid progress in implementing the 2023  FSAP recommendations is commendable. In particular, the regulatory agency (ARDFM)’s institutional independence and risk-based supervision, as well as the NBK’s macroprudential policy mandate and toolkit, have been significantly enhanced. Going forward, the main priority is to introduce a fully-fledged framework for bank resolution, including coordination mechanisms among the ARDFM, NBK and relevant ministries.

    Structural reform implementation is critical to elevate long-term economic growth. To meet the authorities’ ambitious growth objectives, a key priority is to reduce the state footprint in the economy and promote competition and private sector development. However, the amount and size of state interventions, subsidies, state-owned enterprises, and external restrictions have recently increased. Stronger public governance is also required, including through continued efforts to reduce corruption-related vulnerabilities.

    Given increasingly pressing challenges from climate change, more comprehensive policies are needed to accelerate the transition to a sustainable and resilient economic model and meet the authorities’ commitment to reduce carbon emissions. Building on recent progress, including in implementing the national strategy for carbon neutrality, priorities are to modernize energy infrastructure, enhance energy efficiency, accelerate fossil fuel subsidy reforms, and adopt measures to transform high-emission sectors, manage climate-related risks in the financial sector, and address the needs of vulnerable groups.

    Table 1. Kazakhstan: Selected Economic Indicators, 2022–26

     

     

    Proj

    2022

    2023

    2024

    2025

    2026

    GDP

     

     

    (Percent)

     

     

    Real GDP

    3.2

    5.1

    3.9

    5.0

    3.9

    Real Oil GDP

    -1.7

    7.0

    -0.6

    8.8

    4.4

    Real Non-Oil GDP

    4.6

    4.6

    5.1

    4.0

    3.8

    Inflation

     

     

     

     

     

    Headline (EOP)

    20.4

    9.7

    8.2

    7.2

    6.2

    General government fiscal accounts

     (Percent

    of GDP) 

    Revenues and grants

    21.8

    21.7

    19.5

    18.5

    19.0

    Oil revenues

    8.0

    5.7

    5.8

    5.7

    5.1

    Non-oil revenues 1/

    13.8

    16.0

    12.7

    12.7

    13.9

    Expenditures and net lending

    21.7

    23.2

    22.1

    21.6

    21.2

    Overall fiscal balance

    0.1

    -1.5

    -2.6

    -3.1

    -2.2

    Non-oil fiscal balance

    -7.9

    -7.2

    -8.4

    -8.9

    -7.3

    Gross public debt

    23.5

    22.8

    24.0

    25.5

    28.2

    Net public debt

    -1.2

    0.1

    2.6

    4.5

    5.7

    Monetary accounts

    Reserve money

    11.4

    11.6

    11.9

    12.0

    11.5

    Broad money

    33.1

    34.0

    34.6

    35.0

    35.4

    Credit to the private sector

    22.7

    23.5

    24.1

    25.0

    26.1

    Balance of payments

    Current account balance

    3.1

    -3.3

    -1.5

    -2.3

    -2.3

    Financial account balance 2/

    2.6

    -0.6

    -2.8

    -3.0

    -2.5

    Exchange rates

    (Units)

    Exchange rate KZT/USD (EOP)

    461.0

    453.6

    …

    …

    …

    Memorandum items

    (Various

    Units) 

    Reserves Assets (USD billion)

    35.1

    35.9

    40.2

    43.2

    44.5

    In months of following year imports of G&S

    5.8

    5.9

    6.5

    6.7

    6.6

    NFRK assets (percent of GDP)

    24.7

    22.7

    21.4

    21.0

    22.5

    External debt (percent of GDP)

    71.2

    61.3

    58.4

    57.6

    56.4

    NBK policy rate (EOP, percent)

    16.8

    16.6

    …

    …

    …

    Crude oil and gas cond. prod. (million tons) 3/

    84.2

    90.0

    89.6

    97.3

    101.5

    Unemployment rate (AVG, percent)

    4.9

    4.7

    4.7

    4.6

    4.6

    Sources: Kazakhstani authorities and IMF staff estimates and projections.

    1/ Non-oil revenue in 2023 includes a one-off dividend from Samruk-Kazyna of 1.1 percent of GDP and in 2024 includes a one-off dividend from Kazatomprom of 0.3 percent of GDP from the sale of shares to the NFRK.

    2/ Excluding reserve movements.

    3/ Based on a conversion factor of 7.5 barrels of oil per ton.

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] The Executive Board takes decisions under its lapse-of-time procedure when the Board agrees that a proposal can be considered without conveying formal discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Angham Al Shami

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/01/30/pr25021-kazakhstan-executive-board-concludes-2024-article-iv-consult

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI: Foresight Ventures’ Co-founder, Forest Bai, Joins Consensus Hong Kong 2025 to Judge PitchFest

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Jan. 31, 2025 (GLOBE NEWSWIRE) —

    Foresight Ventures, a leading global crypto venture capital firm, has announced its participation in Consensus Hong Kong 2025, the premier blockchain and Web3 gathering hosted by CoinDesk. As a VC partner, Foresight Ventures will play an integral role in amplifying the impact of the event and fostering meaningful dialogue around Asia’s emerging trends in blockchain, DeFi, and AI-driven Web3 innovations.

    As part of its engagement, Forest Bai, Co-Founder of Foresight Ventures, has been invited as a judge for the CoinDesk PitchFest. This high-stakes competition will highlight some of the most promising blockchain startups as they pitch their innovations to a panel of industry-leading investors and entrepreneurs.

    PitchFest serves as a launchpad for early-stage Web3 startups, offering them exposure, mentorship, and potential investment opportunities. With Foresight Ventures’ deep expertise in bridging East and West through strategic investments and incubation, the firm is well-positioned to identify and support disruptive projects poised for long-term success.

    Forest Bai commented on the participation: “Consensus Hong Kong is a gateway to Asia’s rapidly evolving blockchain landscape. At Foresight Ventures, we believe in empowering the next wave of innovators, and PitchFest is the perfect stage to discover and support game-changing projects. We’re excited to engage with the brightest minds and reinforce our commitment to fostering blockchain excellence in Asia and beyond.”

    Beyond PitchFest, Consensus Hong Kong 2025 will feature a diverse lineup of notable speakers, including CEO and executives of Binance, Robinhood, Solana Foundation, Wintermute, Backpack, Polymarket, Grayscale, Aptos, Monad and many more, together with networking opportunities, and deep dives into regulations, DeFi, PayFi, and AI’s intersection with Web3. The event is expected to attract top-tier investors, founders, and developers looking to shape the future of the blockchain industry.

    About Foresight Ventures
    Foresight Ventures is the first and only crypto VC bridging East and West. With a research-driven approach and offices in the US and Singapore, we are a powerhouse in crypto investment and incubation. Our premier media network includes The Block, Foresight News, BlockTempo, and Coinness. We aggressively invest in the most daring innovations. We are dedicated to partnering with visionary projects and top teams to help them succeed, reshaping the future of digital finance and beyond.

    For more information, users can visit: Website | Twitter | LinkedIn | Discord | Linktree
    For media requests, users can contact media@foresightventures.com. 

    Contact

    PR team
    media@foresightventures.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aaba6271-01a8-47fe-a589-d5f35d5d7da4

    The MIL Network –

  • MIL-OSI: Kahuna Receives Financing from Stifel Bank to Fuel Innovation and Expansion

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Jan. 31, 2025 (GLOBE NEWSWIRE) — Kahuna Workforce Solutions, a leading skills and competency management SaaS platform, today announced financing from Stifel Bank, an affiliate of Stifel Financial Corp., a global diversified financial services firm. The credit facility with Stifel Bank will provide financing for working capital and growth capital, enabling Kahuna to expand its product and service offerings further to serve its customers and partners best.

    With the infusion of capital, Kahuna aims to fund the development of new products, as well as enhance the integration functionality of its skills and competency management SaaS platform with other technology solutions in the human resources, operations and learning ecosystems. Kahuna will also leverage the financing to grow its channel and partnership strategy, a key pillar of the company’s long-term vision for growth.

    “Our goal at Kahuna has always been to provide our customers with the insights and tools they need to enhance their workforce capability and reach their organizational goals,” said Jai Shah, chief executive officer of Kahuna. “Partnering with Stifel Bank allows us to deepen this commitment and continue innovating, expanding and enhancing the capabilities of our product offerings so that we can meet the evolving requirements of the organizations and markets we serve.”

    As part of its growth strategy, Kahuna has recently strengthened its leadership team with two key additions. Diane Mitchell joins as chief marketing officer, bringing extensive experience in brand development and strategic marketing. Jeff Durand joins as vice president of channels and business development, focusing on expanding Kahuna’s strategic partner network and broadening its market reach.

    “Kahuna is uniquely positioned to address the growing demand for validated skills data with its skills and competency management solutions,” said Alan Faulkner, managing director of Stifel Venture Banking. “They are transforming how organizations assess and develop their workforce skills and capabilities, and we look forward to supporting them as they continue to grow and innovate their product offerings and business overall.”

    About Kahuna Workforce Solutions
    Kahuna Workforce Solutions is a leading skills and competency management SaaS platform designed for operations, learning and human resources. The platform provides enterprises with validated skills data, offering valuable insights into workforce capabilities, aligning talent supply and demand and maximizing training investments. Kahuna helps organizations build a more skilled, adaptable, and competitive workforce. Learn more: kahunaworkforce.com

    About Stifel
    Stifel Financial Corp. (NYSE: SF) is a diversified global wealth management, investment bank, and commercial banking company. Stifel Venture Banking, a division of Stifel Bank, Member FDIC, provides commercial banking and debt capital financing solutions to venture capital-backed technology companies and their investors. Stifel Bank has the flexibility and resources to offer its customers the banking, treasury management, and lending solutions they value most, with the legacy of Stifel. Stifel Bank collaborates with Stifel Investment Banking teams and Stifel Wealth Management, tailoring solutions for companies and individuals across their asset management needs. To learn more, please visit: https://stifelventurebanking.com/

    The MIL Network –

  • MIL-OSI Global: Bogus scientific papers are enriching fraudsters and slowing lifesaving medical research

    Source: The Conversation – USA – By Frederik Joelving, Contributing editor, Retraction Watch

    Assistant professor Frank Cackowski, left, and researcher Steven Zielske at Wayne State University in Detroit became suspicious of a paper on cancer research that was eventually retracted. Amy Sacka, CC BY-ND

    Over the past decade, furtive commercial entities around the world have industrialized the production, sale and dissemination of bogus scholarly research. These paper mills are profiting by undermining the literature that everyone from doctors to engineers rely on to make decisions about human lives.

    It is exceedingly difficult to get a handle on exactly how big the problem is. About 55,000 scholarly papers have been retracted to date, for a variety of reasons, but scientists and companies who screen the scientific literature for telltale signs of fraud estimate that there are many more fake papers circulating – possibly as many as several hundred thousand. This fake research can confound legitimate researchers who must wade through dense equations, evidence, images and methodologies, only to find that they were made up.

    Even when bogus papers are spotted – usually by amateur sleuths on their own time – academic journals are often slow to retract the papers, allowing the articles to taint what many consider sacrosanct: the vast global library of scholarly work that introduces new ideas, reviews and other research and discusses findings.

    These fake papers are slowing research that has helped millions of people with lifesaving medicine and therapies, from cancer to COVID-19. Analysts’ data shows that fields related to cancer and medicine are particularly hard-hit, while areas such as philosophy and art are less affected.

    To better understand the scope, ramifications and potential solutions of this metastasizing assault on science, we – a contributing editor at Retraction Watch, a website that reports on retractions of scientific papers and related topics, and two computer scientists at France’s Université Toulouse III–Paul Sabatier and Université Grenoble Alpes who specialize in detecting bogus publications – spent six months investigating paper mills.

    Co-author Guillaume Cabanac also developed the Problematic Paper Screener, which filters 130 million new and old scholarly papers every week looking for nine types of clues that a paper might be fake or contain errors.

    An obscure molecule

    Frank Cackowski at Detroit’s Wayne State University was confused.

    The oncologist was studying a sequence of chemical reactions in cells to see whether they could be a target for drugs against prostate cancer. A paper from 2018 in the American Journal of Cancer Research piqued his interest when he read that a little-known molecule called SNHG1 might interact with the chemical reactions he was exploring. He and fellow Wayne State researcher Steven Zielske began experiments but found no link.

    Meanwhile, Zielske had grown suspicious of the paper. Two graphs showing results for different cell lines were identical, he noticed, which “would be like pouring water into two glasses with your eyes closed and the levels coming out exactly the same.” Another graph and a table in the article also inexplicably contained identical data.

    Zielske described his misgivings in an anonymous post in 2020 at PubPeer, an online forum where many scientists report potential research misconduct, and also contacted the journal’s editor. The journal pulled the paper, citing “falsified materials and/or data.”

    “Science is hard enough as it is if people are actually being genuine and trying to do real work,” said Cackowski, who also works at the Karmanos Cancer Institute in Michigan.

    Wayne State scientists Cackowsi and Zielske carried out experiments based on a paper they later found to contain false data.
    Amy Sacka, CC BY-ND

    Legitimate academic journals evaluate papers before publication by having other researchers in the field carefully read them over. But this peer review process is far from perfect. Reviewers volunteer their time, typically assume research is real and so don’t look for fraud.

    Some publishers may try to pick reviewers they deem more likely to accept papers, because rejecting a manuscript can mean losing out on thousands of dollars in publication fees.

    Worse, some corrupt scientists form peer review rings. Paper mills may create fake peer reviewers. Others may bribe editors or plant agents on journal editorial boards.

    An ‘absolutely huge’ problem

    It’s unclear when paper mills began to operate at scale. The earliest suspected paper mill article retracted was published in 2004, according to the Retraction Watch database, which details retractions and is operated by The Center for Scientific Integrity, the parent nonprofit of Retraction Watch.

    An analysis of 53,000 papers submitted to six publishers – but not necessarily published – found 2% to 46% suspect submissions across journals. The American publisher Wiley, which has retracted more than 11,300 articles and closed 19 heavily affected journals in its erstwhile Hindawi division, said its new paper mill detection tool flags up to 1 in 7 submissions.

    As many as 2% of the several million scientific works published in 2022 were milled, according to Adam Day, who directs Clear Skies, a company in London that develops tools to spot fake papers. Some fields are worse than others: biology and medicine are closer to 3%, and some subfields, such as cancer, may be much larger, Day said.

    The paper mill problem is “absolutely huge,” said Sabina Alam, director of Publishing Ethics and Integrity at Taylor & Francis, a major academic publisher. In 2019, none of the 175 ethics cases escalated to her team was about paper mills, Alam said. Ethics cases include submissions and already published papers. “We had almost 4,000 cases” in 2023, she said. “And half of those were paper mills.”

    Jennifer Byrne, an Australian scientist who now heads up a research group to improve the reliability of medical research, testified at a July 2022 U.S. House of Representatives hearing that nearly 6% of 12,000 cancer research papers screened had errors that could signal paper mill involvement. Byrne shuttered her cancer research lab in 2017 because genes she had spent two decades researching and writing about became the target of fake papers.

    In 2022, Byrne and colleagues, including two of us, found that suspect genetics research, despite not immediately affecting patient care, informs scientists’ work, including clinical trials. But publishers are often slow to retract tainted papers, even when alerted to obvious fraud. We found that 97% of the 712 problematic genetics research articles we identified remained uncorrected.

    Potential solutions

    The Cochrane Collaboration has a policy excluding suspect studies from its analyses of medical evidence and is developing a tool to spot problematic medical trials. And publishers have begun to share data and technologies among themselves to combat fraud, including image fraud.

    Technology startups are also offering help. The website Argos, launched in September 2024 by Scitility, an alert service based in Sparks, Nevada, allows authors to check collaborators for retractions or misconduct. Morressier, a scientific conference and communications company in Berlin, offers research integrity tools. Paper-checking tools include Signals, by London-based Research Signals, and Clear Skies’ Papermill Alarm.

    But Alam acknowledges that the fight against paper mills won’t be won as long as the booming demand for papers remains.

    Today’s commercial publishing is part of the problem, Byrne said. Cleaning up the literature is a vast and expensive undertaking. “Either we have to monetize corrections such that publishers are paid for their work, or forget the publishers and do it ourselves,” she said.

    There’s a fundamental bias in for-profit publishing: “We pay them for accepting papers,” said Bodo Stern, a former editor of the journal Cell and chief of Strategic Initiatives at Howard Hughes Medical Institute, a nonprofit research organization and funder in Chevy Chase, Maryland. With more than 50,000 journals on the market, bad papers shopped around long enough eventually find a home, Stern said.

    To prevent this, we could stop paying journals for accepting papers and look at them as public utilities that serve a greater good. “We should pay for transparent and rigorous quality-control mechanisms,” he said.

    Peer review, meanwhile, “should be recognized as a true scholarly product, just like the original article,” Stern said. And journals should make all peer-review reports publicly available, even for manuscripts they turn down.

    This article is republished from The Conversation under a Creative Commons license. This is a condensed version. To learn more about how fraudsters around the globe use paper mills to enrich themselves and harm scientific research, read the full version.

    Labbé receives funding from the European Research Council.
    He has also received funding from the French National Research Agency (ANR), and the U.S. Office of Research Integrity.
    Labbé has been in touch with most of the major publishers and their integrity officers, offering pro-bono consulting regarding detection tools to various actors in the field including STM-Hub and Morressier.

    Cabanac receives funding from the European Research Council (ERC) and the Institut Universitaire de France (IUF). He is the administrator of the Problematic Paper Screener, a public platform that uses metadata from Digital Science and PubPeer via no-cost agreements. Cabanac has been in touch with most of the major publishers and their integrity officers, offering pro bono consulting regarding detection tools to various actors in the field including ClearSkies, Morressier, River Valley, Signals, and STM.

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

    – ref. Bogus scientific papers are enriching fraudsters and slowing lifesaving medical research – https://theconversation.com/bogus-scientific-papers-are-enriching-fraudsters-and-slowing-lifesaving-medical-research-248291

    MIL OSI – Global Reports –

  • MIL-OSI Global: What happened in the German parliament and why is the far right hailing it as a ‘historic’ moment?

    Source: The Conversation – UK – By Ed Turner, Reader in Politics, Co-Director, Aston Centre for Europe, Aston University

    A vote in Germany’s national parliament (Bundestag) has led to fears that the firewall supposedly separating mainstream political parties and the far-right Alternative for Germany (AfD) has been blown apart.

    Until now, Germany’s largest parties, including the union of Christian democratic parties the CDU and CSU, and the social democrat SPD, have ruled out any form of cooperation with the AfD. Friedrich Merz, CDU leader and most likely chancellor following the election to be held on February 23, had previously said that decisions in the Bundestag should not be passed if they relied on AfD votes.

    And while Merz’s commitment to the firewall had occasionally wavered in some interviews, the CDU had resisted any temptation to do deals with the AfD nationally or in state parliaments. There is some cooperation on a local level, but beyond a vote on local taxation in Thuringia in 2023, mainstream parties have eschewed any hint of state or national level cooperation.

    That has now changed. Apparently in response to the AfD’s promising polling ahead of the election on February 23, the CDU has tacked dramatically to the right on immigration policy. Merz introduced a five-point plan into the Bundestag proposing a significant tightening of Germany’s immigration system.

    Most radical among the proposals is the reintroduction of border controls at German borders and for migrants without permission to reside in Germany to be turned back. These measures would be questionable, at best, in their conformity with European law.

    Merz made it plain he would put this plan to a vote, even if it could pass only with AfD support. This it did, by 348 to 345. The CDU and its sister party the CSU voted in favour, alongside the AfD and the Free Democratic Party (barring a handful of rebels). The SPD, Greens and Left party voted against while the anti-immigration “left populist” Sarah Wagenknecht Alliance abstained.

    This was not a binding vote but Merz can now push for a more formal process to make his five-point plan law. It is also highly symbolic.

    The AfD was gleeful, hailing a “turning point”, or Zeitenwende, in migration policy. It celebrated the “fall of the firewall” and a “great day for democracy”. The SPD and Greens were furious, with outgoing chancellor Olaf Scholz accusing Merz of breaking his word – and breaking with the tradition of former chancellors from Konrad Adenauer to Angela Merkel by relying on votes from the far right. Merkel subsequently underlined Scholz’s point by criticising Merz’s move.

    The Greens talked of a “dark day for our democracy”. A Left Party parliamentarian called out “to the barricades”, and some spontaneous demonstrations occurred around the country. Merz said he “regretted” that the vote had only been possible with AfD support but added that “doing the right thing does not become wrong when the wrong people – the AfD – vote for it”.

    An election ahead

    Merz’s changed position on immigration and the AfD has come a few weeks ahead of an election that had initially got off to a slow start. The campaign is now suddenly polarised and angry on all sides.

    The election is being held because the three-party governing coalition of social democratic SPD, Greens and liberal FDP collapsed in November over disputes on fiscal policy. Opinion polls have been quite stable, showing the CDU/CSU leading. However, Merz’s party would need a coalition partner.

    The AfD has been consistently in second place but the firewall would prevent a coalition. This helps explain why reactions to the Bundestag vote have been so fierce.

    And while the government collapsed because of disagreements over the economy, several high-profile stabbings by migrants have turned this into an election about immigration. Indeed, migration, asylum and security questions are now right at the top of the list of voters’ concerns.

    The AfD has the wind in its sails and is basking in the glow of Elon Musk’s noisy endorsements. It has adopted an even more hardline manifesto than its previous offerings, proposing “remigration” as a policy – code for removing legal migrants who are no longer welcome.

    However, it is important to note that with this vote, Merz has not declared open season for a coalition with the AfD. And if a coalition was formed with the SPD or Greens, there is no way it would survive Merz turning to the AfD for support on issues where the coalition partner disagreed.

    Scholz has warned of the risk of events similar to Austria, where the CDU/CSU’s sister party, the ÖVP, initially ruled out going into government with the far-right FPÖ but changed its stance when negotiations with mainstream parties failed. Merz insists this won’t happen but moderate CDU/CSU voters may heed Scholz’s warnings and look elsewhere. Merz’s gamble is that such losses would be offset by voters who support a harder line on migration – and even that he will win voters back from the AfD.

    These events highlight the debate being had ever more often across Europe. Are far-right parties weakened if their positions are, to a degree, accommodated by the political mainstream? Or does this in fact strengthen and embolden them?

    That debate will continue but there are more immediate consequences in the wake of the Bundestag vote. Germany’s neighbours will look on uneasily, both because of the febrile political atmosphere in the largest EU member state at a time of substantial geopolitical pressure and because, if Germany were to be found to have set aside European law, that could trigger a total unravelling.

    Ed Turner receives funding from the German Academic Exchange Service.

    – ref. What happened in the German parliament and why is the far right hailing it as a ‘historic’ moment? – https://theconversation.com/what-happened-in-the-german-parliament-and-why-is-the-far-right-hailing-it-as-a-historic-moment-248706

    MIL OSI – Global Reports –

  • MIL-OSI USA: USGS: Value of U.S. mineral production edged up in 2024

    Source: US Geological Survey

    Reston, Va. — The overall value of U.S. mineral production edged up by $1 billion in 2024 to $106 billion, according to the U.S. Geological Survey’s annual Mineral Commodity Summaries. Record prices for gold and silver buoyed the total, more than compensating for a 40 to 60 percent fall in the value of U.S. production of critical minerals used to make lithium-ion batteries.    

    Prices for the battery materials, principally cobalt, lithium and nickel, fell due to oversupply by dominant producers including China. The report also highlights the overall importance of nonfuel minerals to American industries including aerospace, electronics and construction. These industriesrepresented$4.08 trillion in value in 2024, a 4% increase over 2023, and nearly one-seventh of the U.S. economy.   

    The 30th annual Mineral Commodity Summaries report prepared by the USGS National Minerals Information Center is a comprehensive source of nonfuel mineral commodity data for the world. It includes information on the domestic industry structure, government programs, tariffs, reserves, world production and five-year salient statistics for 90 nonfuel mineral commodities that are important to U.S. national security and the economy. It also identifies events, trends and issues in the domestic and international minerals industries that impact production and consumption.  

    “We are excited to release the 30th edition of the Mineral Commodity Summaries. For decades, leaders in industry and government have relied on the objective, robust data and analysis provided in this report to help make business decisions and determine national commerce, security, and intelligence policy surrounding minerals,” said Sarah Ryker, acting director of the USGS. “The USGS leads Federal coordination on the Nation’s mineral supply chains and informs our partners from our rich data. We continue to add new data and analysis to the Mineral Commodity Summaries and develop new ways to shed light on mining, minerals and our economy’s need for them.”  

    In 2024, the metal sector had another year of decreasing prices attributed to oversupply in the global market. There were notable reductions in prices from dominant producing countries including China. The value of U.S. production of many of the metals required to make lithium-ion batteries used in phones, power tools and vehicles, such as cobalt, lithium and nickel, fell sharply by 40% to60% from 2023 levels. The drop in value was caused by both the fall in prices and a resulting decrease in U.S. production. The largest decreases in metal production quantities, in descending order, were nickel, cobalt, platinum, palladium and cadmium. The reduction in prices caused some domestic mining projects to delay operations or stop processing material.   

    Other key highlights of the report are detailed analysis of tariff and trade changes in 2024 affecting mineral commodities. These include U.S. tariffs on China’s exports of goods containing critical minerals in response to acts, policies and practices, and China’s export ban on antimony, gallium and germanium exports to the U.S.    

    In 2024, the U.S. was 100% reliant on imports for 12 of the 50 minerals on the List of Critical Minerals, unchanged from 2023, and the number of critical minerals where the U.S. is more than 50% reliant on imports fell from 29 to 28.  However, the drop in nickel imports doesnot necessarily signal a strengthened domestic supply chain – it was driven by decreased U.S. industrial consumption of nickel.   

    Gold and silver, however, had the highest prices on record in 2024. In 2024, the estimated U.S. production value of gold increased by 9% despite a decrease in the estimated quantity of gold produced. The estimated production value of gold accounted for 11% of the total estimated value of U.S. nonfuel mineral commodity production. Prices for some other commodities such as antimony and germanium also increased significantly owing to export restrictions put in place by China. 

    The $106 billion worth of nonfuel mineral commodities produced by U.S. mines in 2024 included ferrous and nonferrous metals as well as industrial minerals and natural aggregates. The estimated value of U.S. production of all industrial minerals in 2024 was $72.1 billion, which was about 68% of the total value of U.S. mine production. Crushed stone was the leading nonfuel mineral commodity domestically produced in 2024, accounting for 24% of the total value of U.S. mine production. 

    U.S. metal mine production in 2024 was estimated to be valued at $33.5 billion, a slight increase from $33 billion in 2023. The principal contributors to the total value of metal mine production in 2024 were gold, 35%; copper, 30%; iron ore, 16%; zinc, 7%; and molybdenum, 5%.  

    Domestically, a total of $48 billion of metals and mineral products were recycled in 2024, including metals such as copper, gold, iron and steel scrap and platinum-group elements. This amount represented a slight increase in value compared with that in 2023. 

    Fourteen mineral commodities produced in the U.S. were valued at more than $1 billion each. These commodities were, in order of value, crushed stone, construction sand and gravel, gold, cement, copper, iron ore, industrial sand and gravel, lime, soda ash, salt, zinc, phosphate rock, molybdenum and helium. 
     
    The report also details progress from investments in the domestic minerals base. In fiscal year 2024 alone, the USGS Earth Mapping Resources Initiative distributed more than $57 million across 39 States to fund geoscience data collection and mapping in partnership with State geological surveys, data preservation programs, and scientific interpretation efforts to identify areas of the country with potential for the occurrence of critical minerals.  

    Under the Energy Act of 2020, the USGS maintains the List of Critical Minerals, added a critical minerals section to the annual Mineral Commodity Summaries, conducts a nationwide mapping effort – the Earth Mapping Resources Initiative – in partnership with state geological surveys, and is assessing domestic critical mineral resources. 

    The USGS delivers unbiased science and information to improve understanding of mineral resource potential, production, consumption and how minerals interact with the environment. The USGS National Minerals Information Center collects, analyzes and disseminates current information on the supply of, and the demand for, minerals and materials in the U.S. and about 180 other countries. This information is essential in planning for, and mitigating impacts of, potential disruptions to mineral commodity supply due to both natural hazards and human-caused events. 

    MIL OSI USA News –

  • MIL-OSI: Solidus AI Tech Assembles Powerhouse C-Suite from Goldman Sachs, Deloitte, Careem, Cisco & Dell to Lead the Charge in AI & HPC Industry

    Source: GlobeNewswire (MIL-OSI)

    Dubai, UAE, Jan. 31, 2025 (GLOBE NEWSWIRE) — Solidus AI Tech, a pioneering force in AI-driven high-performance computing (HPC), has fortified its leadership team with an elite selection of industry veterans from globally recognized firms, including Goldman Sachs, Deloitte, Careem, Cisco, and Dell. This addition to the powerhouse C-suite is set to drive the company’s mission of revolutionizing AI infrastructure and accelerating the adoption of AI solutions worldwide.

    Unparalleled Financial and Investment Leadership

    Kal Desai – Chief Financial Officer (CFO) Kal Desai, an Australian-qualified chartered accountant, brings decades of financial acumen spanning Australia, the U.K., and the Middle East. With a career that includes leadership roles at BHP Billiton, Orange, and Reuters, Kal has played a pivotal role in the financial scaling of technology enterprises. Notably, he spearheaded capital raises and exits, including the landmark sale of Zawya to Thomson Reuters in 2012 and his instrumental role as founding CFO of Careem, which was acquired by Uber for $3.1 billion. At Solidus AI Tech, he will steer financial growth strategies, ensuring a robust financial infrastructure to support expansion and innovation.

    Michael Swan – Chief Investment Officer (CIO) With nearly two decades of investment expertise in both traditional finance (TradFi) and decentralized finance (DeFi), Michael Swan has held influential roles at Macquarie Bank and Goldman Sachs. Transitioning into the Web3 sector, he became a recognized industry authority at Tokenomik Inc., executing over 70 seed and private round investments across blockchain projects. As CIO, Michael will architect innovative financing solutions, leveraging a hybrid model of instruments to optimize capital structures for Solidus AI Tech.

    Elite Technology and Innovation Leadership

    Christian Szilagyi – Chief Technology Officer (CTO) A veteran technology leader with over 30 years of experience, Christian Szilagyi has a distinguished career in infrastructure architecture, AI, automation, and high-performance computing (HPC). His track record includes key roles at industry titans like Dell, Verint, and LivePerson, as well as pioneering regional expansions for Calabrio and Centrical. With expertise spanning DevOps, B2C optimization, and enterprise AI integration, Christian will drive Solidus AI Tech’s technology strategy, ensuring its AI and HPC capabilities are at the cutting edge of innovation.

    Niraj Poduval – Chief Innovation Officer (CINO) With over 11 years of AI and data consulting expertise, Niraj Poduval has played a key role in AI adoption strategies across banking, retail, smart cities, and the public sector. His tenure at Deloitte saw him architect AI transformation roadmaps for high-profile clients. As CINO at Solidus AI Tech, Niraj will lead AI-driven initiatives, aligning technological advancements with the company’s strategic vision to maximize business impact and market expansion.

    Commercial and Market Expansion Leadership

    Mike Doria – Chief Commercial Officer (CCO) Bringing extensive expertise in Web3, AI, and enterprise infrastructure, Mike Doria has held key leadership roles at Cisco and DXC. His track record includes spearheading revenue growth, securing funding for large-scale data center projects, and launching disruptive AI solutions. With experience as a co-founder and CEO of multiple technology ventures, Mike is set to drive Solidus AI Tech’s commercial strategy, expanding its market reach and establishing it as a dominant force in AI-powered computing.

    A Bold Vision for the Future of AI & HPC

    This addition formidable C-suite brings a wealth of expertise across finance, investment, technology, and commercial strategy. Their combined leadership positions Solidus AI Tech at the forefront of AI and HPC innovation, strengthening its position as a leading infrastructure provider for AI-powered applications. With a strategic blend of TradFi, DeFi, and cutting-edge AI solutions, the company is positioned to drive transformative advancements in AI adoption across industries.

    Solidus AI Tech is an upcoming industry leader in high-performance AI computing solutions, committed to building the next generation of AI infrastructure. With a focus on sustainability, efficiency, and cutting-edge technology, Solidus AI Tech provides enterprises with the tools and computing power necessary to drive AI-driven transformations.

    Learn more:

    Website: https://aitech.io/
    Twitter X: https://twitter.com/AITECHio
    Telegram: https://t.me/solidusaichat

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

    The MIL Network –

  • MIL-OSI Russia: Benin: An African Pioneer

    Source: IMF – News in Russian

    Benin: An African Pioneer

    January 31, 2025

    Innovation and a strong reform drive have strengthened Benin’s resilience to regional and global challenges and supported progress toward meeting the Sustainable Development Goals.

    Benin faced a number of negative spillovers in 2022: a deteriorating regional security situation at its northern border, the lingering scars of COVID-19, and higher living costs amid the war in Ukraine. To help counter those headwinds, the country tapped IMF support, including a $650 million blended Extended Fund Facility (EFF) and Extended Credit Facility (ECF) arrangement, complemented by a $200 million Resilience and Sustainability Facility (RSF) in 2023. Development partners’ confidence in the country’s reform program has been reflected in budget support consistently exceeding expectations. Moreover, Benin was among the first countries to re-access the international capital market last year, following a two-year hiatus, with several sovereign credit rating upgrades in recent years.  

    Despite challenges, there are promising signs of economic transformation. Among other achievements, growth has been strong, fiscal adjustment is proceeding while allowing for a significant increase in social spending, and efforts to strengthen governance are gaining ground.

    Following the combined Fifth Review of the ongoing EFF/ECF arrangement and Second Review of the RSF, IMF Country Focus discussed the country’s economic performance with Romuald Wadagni, Senior Minister of State of Economy and Finance for Benin, and Constant Lonkeng, IMF Mission Chief for Benin.

    How is the current reform program affecting the daily lives of Beninese people?

    Finance Minister Wadagni: First and foremost, our ongoing reform program has allowed us to navigate an episode of severe and repeated shocks, with technical and financial support from our development partners. As a result, our economy has shown remarkable resilience, with growth averaging more than 6.5 percent in recent years.

    Economic resilience is helping harness the potential of Benin’s people. A key focus of our reform program is enhancing human capital, as articulated under our people-centric Government Action Program (PAG 2021–26).

    Our Integrated School Feeding Program currently provides free meals to students in 95 percent of elementary schools in rural areas (more than 1.3 million children), with full coverage targeted this year. Lower education is now tuition-free for girls across all of Benin’s 77 communes (estimated 2 million girls), with an ongoing pilot to extend to upper secondary school. We are also putting emphasis on technical education and vocational training to prepare our large youth population to seize job opportunities in high value-added activities.  

    More broadly, our flagship Insurance for Human Capital Enhancement (ARCH) seeks to foster social resilience through various programs including micro-credits, access to healthcare, and pensions. The social registry—established early on under the EFF/ECF with World Bank technical support—is an essential tool for targeting our support to the most vulnerable.  

    How has IMF engagement supported the authorities’ policy agenda?

    IMF Mission Chief Lonkeng: One key design consideration of Benin’s IMF-supported program was balancing financing and fiscal adjustment in a shock-prone environment. Considering Benin’s established track record in macroeconomic management, we opted for a flexible design—a vote of confidence from the IMF.  

    Frontloaded financing supported the country’s appropriately strong counter-cyclical policy response to severe shocks—the IMF disbursed more than 40 percent of the total financing envelope of about 400 percent of Benin’s quota in the first 6 months of the 42-month program to smooth out fiscal adjustment. The EFF/ECF was subsequently complemented by an RSF (120 percent of Benin’s quota) to help enhance the country’s overall socio-economic resilience.  

    The authorities have since been re-building policy space, with domestic revenue mobilization being a key part of this effort and, more broadly, the cornerstone of the authorities’ reform program. A frontloaded tax policy reform under the program complemented efforts to digitalize the tax system to boost revenue collection. As the chart shows, Benin’s tax-to-GDP ratio increased by more than 2 percentage points during 2022–24, far exceeding the average improvement of other countries in this timeframe. 

    There are promising signs of economic transformation. How are you achieving this and what lessons did you learn along the way?

    Finance Minister Wadagni: We first conducted an in-depth diagnostic of our economic and financial situation about a decade ago. We then embarked on a first wave of reforms to lay the foundations for structural transformation, cognizant of the fact that sound public finances, reliable energy, and infrastructure—including digital—are key prerequisites for sustained economic expansion.  

    The ongoing second wave of reforms seek to consolidate our initial achievements and climb up value chains by processing commodities locally. The Glo-Djigbé Industrial Zone—which is dedicated to the local transformation of agricultural products including cotton, cashews, and soybeans—plays a strategic role in this regard. We intend to further develop the zone and, more broadly, pursue the structural transformation of our economy, including through continued modernization and enhanced resilience of agriculture. We will also step up investment in unlocking Benin’s tourism potential and modernizing the Port of Cotonou.

    In doing all of the above, we will expand the social safety nets to reach as many vulnerable people as possible. A key lesson from our experience so far is that sound governance is critical in economic transformation.  

    Benin innovated with the issuance of the first Social Development Goal (SDG) bond in the region – and is now extending this framework to catalyze private climate finance. Can you elaborate?

    Finance Minister Wadagni: We developed an SDG bond framework around the country’s social and climate priorities as an integral part of our development finance strategy. The framework was initially used to issue a €500 million SDG bond in 2021, a first in the region. It has since facilitated the financing of key social and energy transition projects. We intend to leverage the SDG bond framework to catalyze financing for climate change adaptation, resilient agriculture, sustainable ecosystem management, and the energy transition.

    Relatedly, we secured climate financing pledges from our partners during the recent COP29, following the climate finance roundtable that we co-convened in Cotonou with the IMF and the World Bank.

    What has been the key to program engagement in your view, and what do you see as the main challenges ahead?   

    IMF Mission Chief Lonkeng: First and foremost, program ownership has been key. Benin has an established tradition of public consultation around the country’s reform agenda—under the National Development Plan and the Government Action Program. The Fund-supported program therefore had a solid homegrown foundation to build on.  

    Going forward, continued expansion of the tax base, drawing on the country’s recently developed medium-term revenue strategy, would help fund Benin’s large development needs (the country’s median age is 18), and improve the country’s capacity to carry debt and preserve debt sustainability.  

    On the structural front, a continued move away from the traditional transit-centered growth model—supported by a balanced social contract—would foster private sector job creation in higher value-added activities for the large youth population. Enhancing resilience to climate change and maintaining the digitalization drive would also support overall socio-economic resilience in the long-term. All of this would help raise the living standards of the Beninese in a sustained and inclusive manner.

    https://www.imf.org/en/News/Articles/2025/01/31/cf-benin-an-african-pioneer

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: World-leading AI cyber security standard to protect digital economy and deliver Plan for Change

    Source: United Kingdom – Executive Government & Departments

    British businesses will benefit from a world-first cyber security standard which will protect AI systems from cyber-attacks, securing the digital economy.

    • British businesses will benefit from a world-first cyber security standard which will protect AI systems from cyber-attacks, securing the digital economy
    • Security measures will unlock AI’s potential to transform public services and boost productivity as part of the government’s Plan for Change
    • New global coalition to tackle worldwide cyber skills shortage and strengthen security expertise

    Companies developing AI – from consumer apps to systems underpinning public services – will be able to better protect themselves from growing cyber security threats under steps set out by the UK government.

    The steps announced today under a new Code of Practice will give businesses and public services the confidence they need to harness AI’s transformative potential safely – supporting the government’s Plan for Change as the technology drives forward improvements to public services, turbocharges productivity, and drives growth across the economy. 

    With cyber attacks or breaches affecting half of businesses in the last 12 months, safeguarding AI systems is crucial as adoption accelerates across the economy. The world leading Code of Practice pioneered by the UK, equips organisations with the tools they need to thrive in the age of AI. From securing AI systems against hacking and sabotage, to ensuring they are developed and deployed in a secure way, the Code will help developers build secure, innovative AI products that drive growth and fuel the Plan for Change. 

    It sets out how organisations using AI can protect themselves from a range of cyber threats such as AI attacks and system failures. This can include steps such as implementing cyber security training programmes which are focused on AI vulnerabilities, developing recovery plans following potential cyber incidents, and carrying out robust risk assessments. 

    The voluntary Code of Practice will form the basis of a new global standard for secure AI through the European Telecommunications Standards Institute (ETSI) – a major step which cements the UK’s position as a world leader in safe innovation.  With the UK AI sector generating £14.2 billion in revenue last year, these standards will help maintain growth while protecting critical infrastructure – building on the work of the AI Opportunities Action Plan.

    Minister for Cyber Security Feryal Clark MP said: 

    The UK is leading the way in setting global benchmarks for secure innovation, ensuring AI is developed and deployed in an environment that protects critical systems and data which are central to delivering our Plan for Change.  

    This will not only create the opportunities for businesses to thrive, secure in the knowledge that they can be better protected than ever before but support them in delivering cutting-edge AI products that drive growth, improve public services, and put Britain at the forefront of the global AI economy.

    The UK government has also published today an implementation guide for the Code, to support businesses as they shore up their cyber defences by providing a one-stop shop which brings together guidance and key steps to follow.  AI represents a generation-defining technology which is central to the government’s Plan for Change – holding incredible potential to transform public services, boost productivity and rebuild our economy. 

    NCSC Chief Technology Officer Ollie Whitehouse said:

    It is vital that we harness the transformative potential of AI securely so that our society can reap the benefits of new technologies without introducing avoidable vulnerabilities and cyber risks.

    The new Code of Practice, which we have produced in collaboration with global partners, will not only help enhance the resilience of AI systems against malicious attacks but foster an environment in which UK AI innovation can thrive.

    The UK is leading the way by establishing this security standard, fortifying our digital technologies, benefiting the global community and reinforcing our position as the safest place to live and work online.

    Building on this position of global leadership in cyber security, the UK has also spearheaded the launch of a new International Coalition on Cyber Security Workforces (ICCSW), alongside founding partners including Japan, Singapore, and Canada. The coalition – which emerged from the UK-led Wilton Park Summit in September 2024 – will help countries work together to tackle cyber threats and address the global cyber skills gap. 

    This new partnership will strengthen international cooperation on cyber security, breaking down barriers to career progression and increasing diversity in the sector. Current estimates show that supporting cyber skills will boost the £11.9 billion cyber security industry which will in turn help to drive growth in the British economy. 

    The UK is moving full steam ahead with plans to bolster our online defences through a new Cyber Security and Resilience Bill which was unveiled in last summer’s King Speech. Ahead of that legislation’s introduction, the government is also publishing its response to the Cyber Governance Code of Practice of today. In its response, the government warns that despite the massive disruptions cyber incidents can cause, boards and senior leaders often struggle to engage in cyber issues due to a lack of understanding, training, or time – making it more pressing than ever to ensure all sectors of the UK economy have the tools they need to address cyber threats. 

    To address this problem, DSIT has developed the Cyber Governance Code of Practice in collaboration with the National Cyber Security Centre and industry experts. The Code provides clear actions for directors to manage cyber risks effectively, enabling businesses to harness new technologies while building resilience. The government’s response outlines improvements to the Code based on extensive feedback, with the updated version set to be published in early 2025. 

    Notes to editors

    The Code has been developed in close collaboration with NCSC and a range of external stakeholders. See call for views response for more information.  

    The Code will be submitted into the European Telecommunications Standards Institute’s Securing AI Committee where it will be used to develop a global standard. 

    The government is working with industry and international counterparts to promote international alignment of security requirements for AI systems, including through monitoring the development of relevant standards in other standards development organisations. 

    The government will update the content of the Code and Implementation Guide to mirror the future ETSI global standard and guide once they are created. Read the full AI cyber security code of practice.

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 300

    Updates to this page

    Published 31 January 2025

    MIL OSI United Kingdom –

  • MIL-OSI Economics: New AI Hub coming in partnership with State of New Jersey, Princeton University and CoreWeave

    Source: Microsoft

    Headline: New AI Hub coming in partnership with State of New Jersey, Princeton University and CoreWeave

    Major artificial intelligence Hub will bolster state’s innovation economy 

    Microsoft, CoreWeave, New Jersey Economic Development Authority and Princeton University expected to invest over $72 million to support the long-term success of the Hub 

    TRENTON, N.J. (Jan. 31, 2025) – Governor Phil Murphy and Princeton University President Christopher L. Eisgruber on Friday announced that Microsoft and CoreWeave will join the state and Princeton as founding partners in the NJ AI Hub. The NJ AI Hub will serve as a state-of-the-art, collaborative ecosystem that integrates world-class research, innovation, education and workforce development. As part of this investment in the NJ AI Hub, Microsoft will leverage its TechSpark program to provide expertise and resources for AI skilling and workforce development to create opportunities for innovation in New Jersey and the region. 

    The NJ AI Hub will help position New Jersey as a leading East Coast center for AI innovation. It will be located along Route 1 — New Jersey’s innovation corridor — at 619 Alexander Road in Princeton, in space provided by Princeton University.  

    “As the AI industry rapidly evolves, it’s imperative that we capitalize on this moment in New Jersey. I’m incredibly proud of this partnership with the top leaders in the industry and higher education, which further establishes our state as a hub for cutting-edge AI innovation and talent,” said Governor Murphy. “AI’s economic and innovation potential is vast, giving us the chance to take our state to new heights. This partnership will not only solidify New Jersey’s position as a global technology leader, it will also attract high-paying, sustainable jobs for our residents, allowing for a stronger and more prosperous future for our state.”  

    “The addition of Microsoft and CoreWeave as founding partners of the NJ AI Hub demonstrates how government, higher education and the corporate sector are coming together to advance AI innovation and the regional innovation ecosystem — two of Princeton’s highest priorities,” President Eisgruber said. “I’m eager to see many of the state’s other excellent colleges and universities join this effort as its development continues.” 

    “New Jersey has long been at the forefront of American innovation, and AI is the next chapter of this journey,” said Brad Smith, Vice Chair and President of Microsoft. “By leveraging the strengths of the private sector, Princeton and the state of New Jersey, our goal is to build a thriving regional AI economy that not only drives economic growth but sets a new standard for research, development and workforce development.”  

    “This collaboration represents the best of what private-public partnerships can achieve, bringing together the brightest minds from government, academia, the business community and our team of experts to foster groundbreaking AI innovation in New Jersey,” said Brian Venturo, Co-Founder and Chief Strategy Officer at CoreWeave. “Together, we’re advancing the future of technology while driving meaningful economic growth and strengthening New Jersey’s role as a leader in the global AI landscape. New Jersey is our home, and we’re excited to continue our partnership with the state by making it a leader in AI advancement.” 

    “AI is rapidly evolving, and New Jersey is capitalizing on this moment to cement our place as a national leader in the industry. By bringing together world-class leaders like Princeton, Microsoft and CoreWeave, Governor Murphy is building upon the Garden State’s long-standing legacy in innovation and helping advance cutting-edge AI technologies,” said New Jersey Economic Development Authority Chief Executive Officer Tim Sullivan. “The opportunity presented by AI aligns with Governor Murphy’s vision for cultivating high-growth sectors, with the goal of creating family-sustaining career opportunities. Showcasing New Jersey’s bustling innovation community, talent pool and robust resources will help AI companies recognize the state’s value proposition for growing innovative companies of the future.” 

    Microsoft, CoreWeave, the NJEDA and Princeton University are founding equity partners in the newly created NJ AI Hub. Together, they expect to invest over $72 million to support the long-term success of the Hub, including up to $25 million of nonbinding commitment from the NJEDA.  

    A portion of NJEDA’s and CoreWeave’s committed funding will include a planned NJ AI Venture Fund that will support innovation commercialization through equity investments.     

    Microsoft, CoreWeave, the NJEDA, and Princeton University will focus on the following three pillars of programming at the NJ AI Hub:  

    1. Research and development:
      The NJ AI Hub will help companies across a range of industry sectors integrate and apply AI in their businesses and use it to advance their research and development efforts. The Hub will focus on applications of AI in several industry sectors that have strong footprints in New Jersey, such as the life sciences, clean energy and climate resilience, telecommunications and cybersecurity, and infrastructure and logistics. The NJ AI Hub will also actively engage New Jersey’s research universities on applied research in AI and will host events to connect companies developing and using AI tools with cutting-edge research and potential collaborators.  
    2. Commercializing and accelerating innovation:
       An AI accelerator will be operated at the NJ AI Hub, which will help facilitate the growth of the early-stage AI ecosystem in New Jersey. The accelerator will host cohorts of startup ventures and will provide them with essential support services such as workspace, compute power, legal assistance and business development advice. In addition, these startups will have coordinated access to the NJ AI Hub’s corporate partners for mentorship and networking opportunities.  
    3. Strengthening AI education and workforce development:
       The Hub will work closely with New Jersey’s higher education community to promote high-quality talent development at all levels and will leverage the resources of Microsoft’s TechSpark program. By developing shared curricula, projects and teaching tools for AI courses; training community college faculty in teaching AI; and creating upskilling opportunities to help workers across disciplines apply AI in their work, the Hub will coordinate efforts to build the state’s pool of AI talent. Ongoing collaboration with employers will ensure that education and training programs are providing trainees with industry-recognized credentials and in-demand skills for the workforce. The NJ AI Hub will also be able to connect employers with opportunities to host AI apprenticeships, develop customized upskilling training for their workers, recruit talent from New Jersey schools for jobs and internships, and partner with project-based AI courses at the college and graduate level.  

    Through this new AI Hub, Microsoft will be bringing its TechSpark program to New Jersey. Founded in 2017, Microsoft TechSpark fosters inclusive economic opportunity across the U.S., including job creation and innovation, by working in communities and investing in local organizations. TechSpark operates across all 50 states and to date has helped secure more than $700 million in community funding for local innovation, trained 65,000 people in critical technology skills, and created 4,500 jobs. 

    Plans for an AI Hub were announced by Governor Murphy and President Eisgruber in 2023. Pending NJEDA Board approval, the NJ AI Hub will be supported through the NJEDA’s Strategic Innovation Center (SIC) initiative. The NJEDA has executed a nonbinding term sheet to support the NJ AI Hub’s operating budget for up to five years. In total, the NJEDA is anticipated to invest up to $25 million to support the NJ AI Hub and the NJ AI Venture AI Fund.  

    For further updates, please visit the NJ AI Hub website at njaihub.org. 

    About Microsoft 

    Microsoft (Nasdaq “MSFT” @microsoft) creates platforms and tools powered by AI to deliver innovative solutions that meet the evolving needs of our customers. The technology company is committed to making AI available broadly and doing so responsibly, with a mission to empower every person and every organization on the planet to achieve more. 

    For more information, press only: 

    Microsoft Media Relations, WE Communications for Microsoft, (425) 638-7777,
    [email protected] 

    MIL OSI Economics –

  • MIL-OSI: Voltage CEO Highlights the Evolution of Lightning Network Payments at Tether’s Plan B Forum 2025

    Source: GlobeNewswire (MIL-OSI)

    HONOLULU, Jan. 31, 2025 (GLOBE NEWSWIRE) — Voltage, a leader in Bitcoin infrastructure solutions, has announced that CEO and Founder Graham Krizek will speak at Plan B Forum 2025 in El Salvador, an event hosted by Tether that convenes industry experts in the Bitcoin ecosystem. Krizek will participate in a panel discussion exploring the history and evolution of the Lightning Network, a transformative technology that has brought instant, low-cost Bitcoin transactions to the world.

    This year’s forum comes amid transformative developments in the Lightning ecosystem, including Tether’s announcement to bring its stablecoin to the Lightning Network. While Krizek will not be announcing new initiatives from Voltage, his insights into the development and progress of Lightning provide essential context for understanding why the network is uniquely positioned to integrate stablecoins like Tether’s USDT.

    “The Lightning Network represents a revolutionary leap in Bitcoin scalability, enabling fast, secure, and cost-effective transactions,” said Graham Krizek, CEO of Voltage. “By looking back at its history, we can better appreciate the incredible advancements that make today’s innovations, such as Tether’s integration, possible. I’m excited to share this perspective with the global Bitcoin community at Plan B Forum.”

    As the Lightning Network continues to grow, its ability to support additional assets like stablecoins could redefine financial access and efficiency. The network’s low fees and speed offer a viable framework for global remittances, microtransactions, and businesses seeking to adopt Bitcoin in a practical, scalable way.

    Voltage has been at the forefront of Lightning’s journey, offering the infrastructure and tools that developers, businesses, and enterprises need to build on the network. By reflecting on Lightning’s past and celebrating its recent milestones, Krizek’s panel will highlight how these developments set the stage for an exciting future in global payments.

    Businesses interested in Bitcoin and Lightning Network payments can schedule a demo at https://voltage.cloud/contact-us/ 

    For media inquiries, users may contact 21M Communications at phil@21mcommunications.com

    About Voltage 
    Voltage is a leading payments provider enabling instant, low-cost global settlement on Bitcoin and stablecoins over the Lightning Network. As the longest-running infrastructure provider for the Lightning Network, Voltage serves exchanges, neo-banks, wallets, fintech innovators, and more, empowering them to build and scale high-performance financial solutions with enterprise-grade security and privacy standards. With modular tools that make it easy to build, deploy, and scale payment systems, Voltage reduces costs and delivers unmatched efficiency.

    Contact

    Founder & CEO
    Phil
    21M Communications
    phil@21mcommunications.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b23e9c68-9537-47b3-8af1-145238227907

    The MIL Network –

  • MIL-OSI: Fusion Fuel to Transfer Equity Listing to The Nasdaq Capital Market; Receives Extension to Comply with Bid Price Rule

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, Jan. 31, 2025 (GLOBE NEWSWIRE) — via IBN — Fusion Fuel Green PLC (Nasdaq: HTOO) (“Fusion Fuel” or the “Company”), a leading provider of comprehensive energy engineering, advisory, and supply solutions, today announced that it was notified by the staff of the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that the Staff has approved the Company’s application to transfer its Class A Ordinary Shares and publicly-traded warrants to The Nasdaq Capital Market from The Nasdaq Global Market. This transfer will take effect at the opening of business on February 3, 2025.

    In connection with the transfer, the Staff determined that the Company will be eligible for an additional 180 calendar day period, or until July 28, 2025, to regain compliance with the Nasdaq minimum $1.00 bid price per share requirement (the “Minimum Bid Price Requirement”). The Company intends to take all necessary steps to regain compliance, including effecting a reverse share split, if necessary, to regain compliance. If at any time during this additional time period the closing bid price of the Class A Ordinary Shares is at least $1.00 per share for a minimum of ten consecutive business days, the Staff will provide written confirmation of compliance for continued listing on The Nasdaq Capital Market.

    As previously reported in a Report on Form 6-K furnished to the Securities and Exchange Commission on January 13, 2025, on January 10, 2025, the Company received a letter from the Staff notifying it that since the Company has not yet held an annual meeting of shareholders within twelve months of the end of the Company’s fiscal year ended December 31, 2023, it no longer complies with Nasdaq Listing Rule 5620(a) (the “Annual Meeting Requirement”). There can be no assurance that Fusion Fuel will be able to regain compliance with the Minimum Bid Price Requirement, whether by implementing a reverse share split or otherwise, that the Company will be able to regain compliance with the Annual Meeting Requirement, or that the Company will be able to meet the Nasdaq listing requirements in general.

    Fusion Fuel does not anticipate a material impact on its equity trading as a result of the transfer of listing. The Nasdaq Capital Market operates in the same manner as The Nasdaq Global Market and is a continuous trading market that lists companies that must meet certain financial and corporate governance requirements. Fusion Fuel’s securities will continue to trade under the symbols “HTOO” and “HTOOW.”

    “We are pleased to receive Nasdaq’s approval to transfer our listing to The Nasdaq Capital Market, along with the additional time to regain compliance with the Minimum Bid Price Requirement,” said JP Backwell, CEO of Fusion Fuel. “This determination provides us with both the flexibility and the confidence to continue executing on our strategic initiatives with a renewed focus on building our business. We remain committed to delivering value to our shareholders and further establishing Fusion Fuel as a leading provider of full-service energy engineering and advisory solutions.”

    About Fusion Fuel Green plc

    Fusion Fuel Green PLC (NASDAQ: HTOO) is an emerging leader in the energy services sector, offering a comprehensive suite of energy engineering and advisory solutions through its Al Shola Gas and BrightHy subsidiaries. Al Shola Gas provides full-service industrial gas solutions, including the design, supply, and maintenance of liquefied petroleum gas (LPG) systems, as well as the transport and distribution of LPG to a broad range of customers across commercial, industrial, and residential sectors. BrightHy, the Company’s newly launched hydrogen solutions platform, focuses on delivering innovative engineering and advisory services that enable decarbonization across hard-to-abate industries.

    Learn more about Fusion Fuel by visiting our website at https://www.fusion-fuel.eu and following us on LinkedIn.

    Forward-Looking Statements

    This press release includes “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target”, “may”, “intend”, “predict”, “should”, “would”, “predict”, “potential”, “seem”, “future”, “outlook” or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Fusion Fuel has based these forward-looking statements largely on its current expectations. Such forward-looking statements are subject to risks and uncertainties (including those set forth in Fusion Fuel’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the Securities and Exchange Commission) which could cause actual results to differ from the forward-looking statements.

    Investor Relations Contact

    ir@fusion-fuel.eu

    Wire Service Contact:
    IBN
    Austin, Texas
    www.InvestorBrandNetwork.com
    512.354.7000 Office
    Editor@InvestorBrandNetwork.com

    The MIL Network –

  • MIL-OSI: DeepSeek-R1 AI Model 11x More Likely to Generate Harmful Content, Security Research Finds

    Source: GlobeNewswire (MIL-OSI)

    Boston, Jan. 31, 2025 (GLOBE NEWSWIRE) — The launch of DeepSeek’s R1 AI model has sent shockwaves through global markets, reportedly wiping USD $1 trillion from stock markets.¹ Trump advisor and tech venture capitalist Marc Andreessen described the release as “AI’s Sputnik moment,” underscoring the global national security concerns surrounding the Chinese AI model.²

    However, new red teaming research by Enkrypt AI, the world’s leading AI security and compliance platform, has uncovered serious ethical and security flaws in DeepSeek’s technology. The analysis found the model to be highly biased and susceptible to generating insecure code, as well as producing harmful and toxic content, including hate speech, threats, self-harm, and explicit or criminal material. Additionally, the model was found to be vulnerable to manipulation, allowing it to assist in the creation of chemical, biological, and cybersecurity weapons, posing significant global security concerns.

    Compared with other models, the research found that DeepSeek’s R1 is:

    • 3x more biased than Claude-3 Opus,
    • 4x more vulnerable to generating insecure code than OpenAI’s O1,
    • 4x more toxic than GPT-4o,
    • 11x more likely to generate harmful output compared to OpenAI’s O1, and;
    • 3.5x more likely to produce Chemical, Biological, Radiological, and Nuclear (CBRN) content​ than OpenAI’s O1 and Claude-3 Opus.

    Sahil Agarwal, CEO of Enkrypt AI, said: “DeepSeek-R1 offers significant cost advantages in AI deployment, but these come with serious risks. Our research findings reveal major security and safety gaps that cannot be ignored. While DeepSeek-R1 may be viable for narrowly scoped applications, robust safeguards—including guardrails and continuous monitoring—are essential to prevent harmful misuse. AI safety must evolve alongside innovation, not as an afterthought.”

    The model exhibited the following risks during testing:

    • BIAS & DISCRIMINATION – 83% of bias tests successfully produced discriminatory output, with severe biases in race, gender, health, and religion. These failures could violate global regulations such as the EU AI Act and U.S. Fair Housing Act, posing risks for businesses integrating AI into finance, hiring, and healthcare​.
    • HARMFUL CONTENT & EXTREMISM – 45% of harmful content tests successfully bypassed safety protocols, generating criminal planning guides, illegal weapons information, and extremist propaganda. In one instance, DeepSeek-R1 drafted a persuasive recruitment blog for terrorist organizations, exposing its high potential for misuse​.
    • TOXIC LANGUAGE – The model ranked in the bottom 20th percentile for AI safety, with 6.68% of responses containing profanity, hate speech, or extremist narratives. In contrast, Claude-3 Opus effectively blocked all toxic prompts, highlighting DeepSeek-R1’s weak moderation systems​.
    • CYBERSECURITY RISKS – 78% of cybersecurity tests successfully tricked DeepSeek-R1 into generating insecure or malicious code, including malware, trojans, and exploits. The model was 4.5x more likely than OpenAI’s O1 to generate functional hacking tools, posing a major risk for cybercriminal exploitation​.
    • BIOLOGICAL & CHEMICAL THREATS – DeepSeek-R1 was found to explain in detail the biochemical interactions of sulfur mustard (mustard gas) with DNA, a clear biosecurity threat. The report warns that such CBRN-related AI outputs could aid in the development of chemical or biological weapons​.

    Sahil Agarwal concluded: “As the AI arms race between the U.S. and China intensifies, both nations are pushing the boundaries of next-generation AI for military, economic, and technological supremacy. However, our findings reveal that DeepSeek-R1’s security vulnerabilities could be turned into a dangerous tool—one that cybercriminals, disinformation networks, and even those with biochemical warfare ambitions could exploit. These risks demand immediate attention.”

    Link to the full report is here: https://cdn.prod.website-files.com/6690a78074d86ca0ad978007/679bc2e71b48e423c0ff7e60_1%20RedTeaming_DeepSeek_Jan29_2025%20(1).pdf

    Ends

    1 ‘Sputnik moment’: $1tn wiped off US stocks after Chinese firm unveils AI chatbot – https://www.theguardian.com/business/2025/jan/27/tech-shares-asia-europe-fall-china-ai-deepseek
    Nvidia shares sink as Chinese AI app spooks markets – https://www.bbc.co.uk/news/articles/c0qw7z2v1pgo 
    2 Marc Andreessen on X – https://x.com/pmarca/status/1883640142591853011 

    About Enkrypt AI
    Enkrypt AI is an AI security and compliance platform. It safeguards enterprises against generative AI risks by automatically detecting, removing, and monitoring threats. The unique approach ensures AI applications, systems, and agents are safe, secure, and trustworthy. The solution empowers organizations to accelerate AI adoption confidently, driving competitive advantage and cost savings while mitigating risk. Enkrypt AI is committed to making the world a safer place by ensuring the responsible and secure use of AI technology, empowering everyone to harness its potential for the greater good. Founded by Yale Ph.D. experts in 2022, Enkrypt AI is backed by Boldcap, Berkeley Skydeck, ARKA, Kubera and others.

    The MIL Network –

  • MIL-OSI: UFarm.Digital Secures $500,000 Early Seed Funding to Expand Digital Asset Management Solutions Limassol, Cyprus Jan 31, 2025 (Elite)

    Source: GlobeNewswire (MIL-OSI)

    Limassol, Cyprus, Jan. 31, 2025 (GLOBE NEWSWIRE) — UFarm.Digital, a decentralized finance asset management platform, has secured $500,000 in its early seed funding round. This milestone will support the company’s efforts to expand its platform capabilities, strengthen its market presence, and accelerate strategic development initiatives.

    The funding will enable UFarm.Digital to implement key enhancements, including new features designed to improve user experience and bolster security measures. Planned developments include cross-chain integrations, the addition of new DeFi protocols, and an advanced asset management solution tailored for hedge funds. A portion of the funds will also be allocated to marketing efforts and community engagement to increase the platform’s visibility and reach

    As part of its ongoing development, UFarm.Digital has made significant progress by launching its platform on the Arbitrum network. This strategic move enables the platform to leverage Arbitrum’s scalability and low transaction costs, providing users with faster, more efficient operations. At launch, UFarm.Digital offers a range of investment pools designed to cater to varying risk appetites and strategies, delivering flexibility to both institutional and private investors.

    The platform offers non-custodial security, allowing investors to maintain full control over their funds and significantly reducing risks associated with traditional asset management. It emphasizes seamless integration with DeFi protocols, simplifying asset management while maintaining high security standards. Users have access to top-tier asset managers, who are vetted through a comprehensive, independent rating system that ensures transparency and reliability. The fee management process is secure and straightforward, making it easier to handle success and management fees charged by asset managers. The platform’s smart contracts have undergone rigorous audits by Decurity, with further audits by Hexens planned to uphold ongoing security.

    “Our platform is designed to empower investors by combining robust security measures with a seamless user experience,” said Olga Tiagunova, CEO of UFarm.Digital. “These investments allow us to accelerate the implementation of new features and solutions in our product, enhancing the capabilities of our asset managers while reinforcing the security of our platform.”

    These planned features include a privacy-focused private layer, cross-chain support, and enhanced security infrastructure capable of detecting suspicious activities within the protocol to strengthen asset protection and further enhance overall security. Additionally, zero-knowledge proof (ZKP) technology for KYC verification is part of the company’s roadmap, aimed at maintaining regulatory compliance while safeguarding user privacy.

    As UFarm.Digital welcomes its first institutional clients, the team is dedicated to expanding its services and continuing to innovate. Future developments include enhanced reporting tools and the rollout of a bug bounty program to further ensure platform integrity. The company’s user-first approach and focus on transparency position it as a trusted partner for investors navigating the decentralized finance landscape.

    About UFarm.Digital

    UFarm.Digital is a decentralized finance platform dedicated to simplifying digital asset management for institutional and private investors. The platform provides robust features such as private and public investment pools, customizable fees, secure cross-chain integration, and specialized solutions for hedge funds. In addition, it offers enhanced tools for data-driven performance tracking, operational transparency, and support for future interoperability across multiple blockchain networks. By fostering innovation and maintaining a user-centric focus, UFarm.Digital aims to reshape the digital asset management landscape and become a trusted partner for investors worldwide.

    The MIL Network –

  • MIL-OSI: Grayscale Investments® Launches Grayscale® Dogecoin Trust

    Source: GlobeNewswire (MIL-OSI)

    STAMFORD, Conn., Jan. 31, 2025 (GLOBE NEWSWIRE) — Grayscale Investments®, a leading crypto asset management firm, offering more than 25 crypto investment products, today announced the creation and launch of Grayscale® Dogecoin Trust (the “Trust”).

    The Trust offers investors the opportunity to gain exposure to DOGE, the native coin of the Dogecoin network, an open-source peer-to-peer digital currency originally derived from Litecoin, which itself originated from Bitcoin. Grayscale believes DOGE has transitioned from a memecoin of a Shiba Inu to a tool for global financial inclusion, grassroots activism, and a viable means of payment. Due to its widespread accessibility, affordability, and rapid transaction speeds, DOGE has garnered significant adoption worldwide.

    “Dogecoin has matured into a potentially powerful tool for promoting financial accessibility. We believe, as a faster, cheaper, and more scalable derivative of Bitcoin, Dogecoin is helping groups underserved by legacy financial infrastructure to participate in the financial system,” said Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary. “Grayscale Dogecoin Trust offers investors exposure to an asset that is positioned to help fulfill Bitcoin’s originally intended use case and its egalitarian ethos.”

    The Trust is now open for daily subscription by eligible individual and institutional accredited investors.* The Trust functions like Grayscale’s other single-asset investment trusts and is solely invested in the token underpinning the Dogecoin network.

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

    *Grayscale’s private placements are only available to Accredited Investors as defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended. Most individuals are not Accredited Investors. https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins/updated-3

    Private placement securities are speculative, illiquid, and entail a high level of risk, including the risk that an investor could lose their entire investment.

    Grayscale intends to attempt to have shares of new products quoted on the secondary market. However, there is no guarantee that Grayscale will be successful. Although the shares of certain products have been approved for trading on a secondary market, investors in the new products should not assume that the shares will ever obtain such an approval due to a variety of factors, including questions regulators, such as the SEC, FINRA, or other regulatory bodies may have regarding such products. As a result, shareholders of such products should be prepared to bear the risk of investment in the shares indefinitely. To date, certain products have not met their investment objective, and the shares of such products quoted on OTC Markets have not reflected the value of the digital assets held by such products, less such products’ expenses and other liabilities, but have instead traded at a premium over such value, which at times has been substantial. There have also been instances where the shares of certain products have traded at a discount.

    About Grayscale Investments®

    Grayscale enables investors to access the digital economy through a family of future-forward investment products. Founded in 2013, Grayscale has a decade-long track record and deep expertise as an asset management firm focused on crypto investing. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure. For more information, please follow @Grayscale or visit grayscale.com.

    Media Contact

    press@grayscale.com

    Client Contact

    866-775-0313

    info@grayscale.com

    The MIL Network –

  • MIL-OSI: WISeKey WISe.Social Network: A New Era of Digital Identity Ownership and Data Privacy

    Source: GlobeNewswire (MIL-OSI)

    WISeKey WISe.Social Network: A New Era of Digital Identity Ownership and Data Privacy

    WISe.Social provides a model for how social networks can align with privacy regulations while fostering a more ethical digital ecosystem.

    Geneva, January 31, 2025 –WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, today announces that in an era where personal data has become the currency of the digital world, the Company is setting a new standard with WISe.Social, a proof-of-concept social media platform designed to restore user control over digital identity, data privacy, and consent. Unlike conventional platforms that monetize user information without transparent accountability, WISe.Social is built from the ground up with privacy, security, and user sovereignty as its core principles.

    At the heart of WISe.Social lies WISeKey’s advanced Public Key Infrastructure (PKI), enabling every user to own their digital identity through a cryptographic certificate issued by the platform. This certificate acts as a secure authentication method, allowing seamless login across various digital services while ensuring that personal identity remains under the sole control of the user. Should the user choose to revoke their certificate, all associated content is either deleted or made available for download, reinforcing the fundamental principle that personal data should belong to the individual, not the platform.

    By integrating blockchain technology, WISe.Social ensures full transparency in content moderation, safeguarding users against arbitrary censorship or manipulative algorithms. Every moderation decision is immutably recorded, creating a verifiable and accountable framework for digital discourse. The platform also eliminates the rampant spread of misinformation, fake accounts, and bots by requiring all profiles to be tied to a verifiable digital identity.

    WISe.Social goes beyond traditional security measures by incorporating post-quantum cryptography, protecting users against emerging cyber threats that could compromise sensitive information. This future-proof approach guarantees that personal data remains secure in an evolving technological landscape.

    As governments and regulatory bodies worldwide demand greater compliance with data protection laws such as GDPR, WISe.Social provides a model for how social networks can align with privacy regulations while fostering a more ethical digital ecosystem. The platform redefines consent by allowing users to control their data lifecycle, dictating how and when their information is used.

    WISeKey believes that the future of social media must be built on trust, accountability, and user empowerment. With WISe.Social, individuals reclaim ownership of their digital presence, ensuring that their personal data is protected, their identity remains private, and their consent is always respected. By challenging outdated norms and reshaping the way online platforms operate, WISeKey is leading the charge toward a more secure, transparent, and privacy-centric digital world.

    About WISeKey

    WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

    Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact: Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com     		 WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611 / lcati@equityny.com

    The MIL Network –