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Category: Economy

  • MIL-OSI Global: Suspected Baltic Sea cable sabotage by Russia’s ‘shadow fleet’ is ramping up regional defence

    Source: The Conversation – UK – By Matthew Powell, Teaching Fellow in Strategic and Air Power Studies, University of Portsmouth

    Numerous incidents of suspected Russian-linked sabotage of undersea cables in the Baltic Sea has seen tensions rise among nearby countries, and an increased Nato presence.

    In the latest incident, on January 26, the Swedish coast guard boarded a ship in the Baltic Sea on suspicion of anchor dragging and suspected sabotage of vital undersea cables providing power and communication across the region. Latvia also sent a warship to the incident to investigate damage to fibre-optic cables. The Bulgarian vessel is now under investigation. The owner of the ship has denied any involvement with sabotage.

    The nations along the Baltic Sea coast have become increasingly worried about suspected sabotage of their undersea infrastructure in recent months by vessels deliberately dragging their using anchors along the seabed and have started to station military vessels at sea every day.

    Critical undersea infrastructure can be easily damaged by anchor dragging. Russia has denied involvement in these incidents.

    But there have also been credible reports that Russia has actively been mapping undersea infrastructure.

    In response to rising concerns about infrastructure security, Nato increased its regional naval presence by launching the Baltic Sentry mission on January 14, which includes maritime patrol vessels.

    What’s the context?

    In recent months there have been several reports of damage being caused to undersea cables by vessels as they pass through the Baltic Sea. Attacks on undersea cables are comparable to traditional espionage and information operations . This is activity conducted at the level below that of warfare, designed to send certain signals to adversarial nations. The purpose could be to send a message that the capability exists to essentially cut off and isolate nations from the outside world.

    These cables are extremely valuable. They are used to transport gas, electricity and internet traffic between nations. And recent incidents have led to a reduction in the capacity of electricity that can be transported, although this has not yet caused widespread power outages. Another concern is that damage to internet cables can hold up the passage of information generated by the financial markets. This is particularly vulnerable due to its time-sensitive nature.


    PorcupenWorks/Shutterstock

    How can cables be protected?

    Protecting the cables is a challenging task. There is little that can physically be done to prevent other vessels crossing seas and oceans due to the concept of freedom of navigation of the high seas. And Russia has a right of passage for its ships, for example, from St Petersburg to the North Sea.

    Investigations into apparent threats can be conducted without actually seizing the vessel or impeding its progress in any way. This can done through the use of GPS tracking data and combining that with other evidence such as eye witness testimony.

    While these cables can get damaged through natural means, the targeting of them could be a way for a nation to operate against its adversaries in a more covert manner and below the threshold of armed conflict.

    The Finnish navy seized a ship suspected of involvement in sabotage.

    Much of the disruption to the traffic on these undersea cables is probably the result of accidental activity. But there have been concerns about greater activity by Russian military vessels in their attempts to map the Baltic sea floor. The most likely reason for the increased Russian sea mapping activity is to gain a greater understanding of the location of these cables. But it could be sending a message that this critical infrastructure is difficult to defend and vulnerable to attack and sabotage.

    Many merchant vessels are registered in overseas territories, and ownership can be hard to track. This gives a degree of plausible deniability over who may have ordered or overseen the operations that might have damaged cables.

    It makes it more challenging for action to be taken, but has given rise to accusations that these ships are acting as Russia’s “shadow fleet”.




    Read more:
    ‘Keep nine litres of water in storage’: how Baltic and Nordic countries are preparing for a crisis or war


    But this increased naval presence in the Baltic could act as a deterrent and provide greater security to the cables. Sweden has now boarded a vessel. But another obstacle here is that the nation where the vessel is registered is under absolutely no obligation to cooperate with any investigation.

    Other factors are also involved. The Baltic states and Finland have memories of the political control imposed upon them by the Soviet government prior to, and, in some cases, after the second world war, and this will be adding to the tension.

    Russia’s invasion of Ukraine has increased regional fears about what could happen next. Moscow may be hoping to deter the Baltic nations from continuing to provide the support they are giving to Ukraine by increasing pressure on them along the coast.

    But aggressive activity in the Baltic Sea may well have the opposite effect by ramping up concern about Russia’s power. It might also mean Baltic and Nordic countries are more willing to increase their defence spending and make preparations for possible military action.

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

    – ref. Suspected Baltic Sea cable sabotage by Russia’s ‘shadow fleet’ is ramping up regional defence – https://theconversation.com/suspected-baltic-sea-cable-sabotage-by-russias-shadow-fleet-is-ramping-up-regional-defence-248241

    MIL OSI – Global Reports –

    January 28, 2025
  • MIL-OSI: D. Boral Capital Served as Co-manager to U.S. Energy Corp. (Nasdaq: USEG) in connection with its up to $12.1 Million Public Offering

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Jan. 27, 2025 (GLOBE NEWSWIRE) — U.S. Energy Corp. (NASDAQ: USEG, “U.S. Energy” or the “Company”) announced today the closing of its previously announced underwritten public offering of 4,871,400 shares of its common stock, which includes 635,400 shares sold pursuant to the exercise in full by the underwriters of their over-allotment option, par value $0.01 per share, at a public offering price of $2.65 per share, for total net proceeds, after underwriting commissions, of approximately $12.1 million.

    U.S. Energy plans to use the net proceeds of the offering to fund growth capital for its industrial gas development project, including new industrial gas wells and processing plant and equipment, and to support upcoming operations. The proceeds received by the Company from the exercise of the over-allotment option may be utilized to purchase shares of common stock from Sage Road Capital, LLC, a related party, or its affiliates at a price equal to the net offering price received by the Company.

    Roth Capital Partners acted as sole book-running manager for the offering. Johnson Rice & Company and D. Boral Capital acted as co-managers for the offering. The Loev Law Firm, PC represented the Company and K&L Gates LLP represented the underwriters in the offering.

    The offering is being made pursuant to a shelf registration statement on Form S-3, including a base prospectus, which was filed with the U.S. Securities and Exchange Commission (the “SEC”) and became effective on September 15, 2022. The prospectus supplement and accompanying base prospectus relating to the offering are available on the SEC’s website at www.sec.gov. Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained by sending a request to: Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147, email at rothecm@roth.com.

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

    ABOUT U.S. ENERGY CORP.

    We are a growth company focused on consolidating high-quality assets in the United States with the potential to optimize production and generate free cash flow through low-risk development while maintaining an attractive shareholder returns program. We are committed to being a leader in reducing our carbon footprint in the areas in which we operate. More information about U.S. Energy Corp. can be found at www.usnrg.com.

    Contact Us:

    D. Boral Capital
    590 Madison Avenue, 39th Floor
    New York, NY 10022
    Main Phone: +1 (212) 970-5150
    www.dboralcapital.com
    info@dboralcapital.com

    FORWARD-LOOKING STATEMENTS

    Certain of the matters discussed in this communication which are not statements of historical fact constitute forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. Words such as “strategy,” “expects,” “continues,” “plans,” “anticipates,” “believes,” “would,” “will,” “estimates,” “intends,” “projects,” “goals,” “targets” and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements. Important factors that may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without limitation: (1) the expected use of proceeds, including, but not limited to the repurchase of certain shares of common stock; (2) the ability of the Company to grow and manage growth profitably and retain its key employees; (3) risks associated with the integration of recently acquired assets; (4) the Company’s ability to comply with the terms of its senior credit facilities; (5) the ability of the Company to retain and hire key personnel; (6) the business, economic and political conditions in the markets in which the Company operates; (7) the volatility of oil and natural gas prices; (8) the Company’s success in discovering, estimating, developing and replacing oil, natural gas and helium reserves; (9) risks of the Company’s operations not being profitable or generating sufficient cash flow to meet its obligations; (10) risks relating to the future price of oil, natural gas, NGLs and helium; (11) risks related to the status and availability of oil, natural gas and helium gathering, transportation, and storage facilities; (12) risks related to changes in the legal and regulatory environment governing the oil, gas and helium industry, and new or amended environmental legislation and regulatory initiatives; (13) risks relating to crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; (14) technological advancements; (15) changing economic, regulatory and political environments in the markets in which the Company operates; (16) general domestic and international economic, market and political conditions, including the military conflict between Russia and Ukraine and the global response to such conflict; (17) actions of competitors or regulators; (18) the potential disruption or interruption of the Company’s operations due to war, accidents, political events, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the Company’s control; (19) pandemics, governmental responses thereto, economic downturns and possible recessions caused thereby; (20) inflationary risks and recent changes in inflation and interest rates, and the risks of recessions and economic downturns caused thereby or by efforts to reduce inflation; (21) risks related to military conflicts in oil producing countries; (22) changes in economic conditions; limitations in the availability of, and costs of, supplies, materials, contractors and services that may delay the drilling or completion of wells or make such wells more expensive; (23) the amount and timing of future development costs; (24) the availability and demand for alternative energy sources; (25) regulatory changes, including those related to carbon dioxide and greenhouse gas emissions; (26) uncertainties inherent in estimating quantities of oil, natural gas and helium reserves and projecting future rates of production and timing of development activities; (27) risks relating to the lack of capital available on acceptable terms to finance the Company’s continued growth, potential future sales of debt or equity and dilution caused thereby; (28) the review and evaluation of potential strategic transactions and their impact on stockholder value and the process by which the Company engages in evaluation of strategic transactions; and (29) other risk factors included from time to time in documents U.S. Energy files with the Securities and Exchange Commission, including, but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other important factors that may cause actual results and outcomes to differ materially from those contained in the forward-looking statements included in this communication are described in the Company’s publicly filed reports, including, but not limited to, the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, and future annual reports and quarterly reports. These reports and filings are available at www.sec.gov. Unknown or unpredictable factors also could have material adverse effects on the Company’s future results.

    The MIL Network –

    January 28, 2025
  • MIL-OSI: CareCloud Achieves Record-Breaking Shareholder Turnout and Record Yes Votes to Approve Increase in Authorized Shares

    Source: GlobeNewswire (MIL-OSI)

    SOMERSET, N.J., Jan. 27, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (the “Company”) (Nasdaq: CCLD, CCLDO, CCLDP), a leading provider of healthcare technology and generative AI solutions for medical practices and health systems nationwide, today held its special meeting (“Special Meeting”) of CareCloud’s common stock shareholders. At the Special Meeting, a record-breaking 10.8 million shareholders, representing 85% of the votes cast, approved an amendment to the Company’s Certificate of Incorporation to increase the Company’s authorized shares of common stock from 35 million to 85 million shares.

    “We thank our shareholders for their overwhelming support of our proposal,” said Stephen Snyder, Co-Chief Executive Officer of CareCloud.

    The detailed voting results are reflected in the Form 8-K to be filed today with the Securities and Exchange Commission (the “SEC”). Certain information contained in this press release is a summary of relevant portions of the Definitive Proxy Statement and other materials filed with the SEC. The entirety of the filings is available on the SEC’s website and on https://ir.carecloud.com/common-stock-special-proxy.

    About CareCloud

    CareCloud brings disciplined innovation to the business of healthcare. Our suite of AI and technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care, while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at www.carecloud.com.

    To listen to video presentations by CareCloud’s management team, read recent press releases and view our latest investor presentation, please visit ir.carecloud.com.

    Follow CareCloud on LinkedIn, X and Facebook.

    Forward-Looking Statements

    This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “forecasts,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.

    Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.

    These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

    The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

    SOURCE CareCloud

    Company Contact:
    Norman Roth
    Interim Chief Financial Officer and Corporate Controller
    CareCloud, Inc.
    nroth@carecloud.com

    Investor Contact:

    Stephen Snyder
    Co-CEO
    CareCloud, Inc.
    ir@carecloud.com 

    The MIL Network –

    January 28, 2025
  • MIL-OSI USA: Crapo Urges Senate Colleagues to Support Scott Bessent to be Treasury Secretary

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo
    Washington, D.C.–U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) delivered remarks on the Senate Floor urging his Senate colleagues to support Scott Bessent to be Secretary of the U.S. Department of the Treasury.

    As delivered:
    “Thank you, Mr. President.
    “In about an hour or so, we are going to vote on cloture on the nomination for Scott Bessett to be the Treasury Secretary of the United States, and I rise today to urge my colleagues to vote in favor of this motion.
    “A Treasury Secretary heads the agency charged with supporting economic growth, representing U.S. interests before foreign nations and global financial markets and organizations, managing the federal treasury and overseeing financial institutions, to name just a few of those important responsibilities. 
    “Past successful Treasury Secretaries have understood business and financial markets, as well as foreign policy, national security, budgets and regulation.
    “Mr. Bessent’s impressive background positions him for similar success.  He has worked for the last three decades as one of the sharpest minds in the global financial industry.  He has decades of academic, professional and leadership experience relevant to these positions.
    “When it comes to Mr. Bessent qualifications, there is no room for debate.  His background and training are tailor made for the for this role, and he has the demeanor and character to be an effective secretary.  His powerful presentation at his hearing about his desire to serve in government in order to make a meaningful difference was impressive to all.
    “It includes restoring prosperity and opportunity that our nation experienced during President Trump’s first term in office.  As Mr. Bessent stated, accomplishing key tasks like extending vital tax cuts for all Americans is literally a pass/fail exercise, and I look forward to working closely with him to ensure that we succeed.
    “I strongly agree with a sentiment my colleague Senator Graham shared at the nomination hearing that if qualifications – and I might add, character – are one’s test, voting to confirm Mr. Bessent is one of the easiest we could ever take. 
    “In prior congresses, I’ve joined with many of my Republican colleagues in voting for well-qualified Treasury Secretary candidates put forward by a Democrat president, even though I didn’t agree with all of the positions they advocated.  Mr. Bessent’s candidacy ought to enjoy similar support, and I encourage my colleagues on both sides of the aisle to join with me in advancing his nomination.
    “He is the right person for this job, and I commend President Trump, in making such an excellent selection.”

    MIL OSI USA News –

    January 28, 2025
  • MIL-OSI New Zealand: “Something is very wrong in our society and economy” – NZCTU Workforce Survey shows people fear for future

    Source: Council of Trade Unions – CTU

    Insecurity in work, housing, and health among working people has emerged as the key finding from the New Zealand Council of Trade Unions Te Kauae Kaimahi’s 2025 annual Mood of the Workforce survey.

    NZCTU President Richard Wagstaff says the survey, which polled more than 1900 people, shows immense concern that the Government is taking Aotearoa New Zealand in the wrong direction.

    “We’ve been running this survey since 2019, and I have never seen such a negative response. People are in fear for their jobs and their businesses, their ability to keep their homes, and for their health,” said Wagstaff.

    “They also don’t trust this Government to make it better because they are feeling firsthand the damage that’s been done with austerity policies that are only benefiting an already privileged few.

    “The message that the Government has no interest in helping working people, who are the majority of New Zealanders, is coming through strongly in people’s comments on the tax system, the health system, and their work.

    “People are sharing stories of losing their jobs or struggling to cover the work of colleagues who have already lost their jobs. These are heartbreaking to hear. But so are the stories of families being broken up as people’s kids leave the country to find better job prospects, or of parents having to act as a safety net for their adult children. These children have been hit hardest by the recent downturns, and an unfair and unforgiving housing market.

    “A consistent theme is an overwhelming sense that something is very wrong, both in our society and with the economy.

    “We’ve seen that at a statistical level in things like the recent Curia polling which showed people feel we are on the wrong track as a nation, but the results from our workforce survey give a close up and troubling picture of what that means in people’s lives.

    “My great concern is that rather than admit that their policy direction is hurting people and damaging our economy, the Government is doubling down on it in their recent announcements.

    “Whether that’s because of the Government’s arrogance or because they live in a bubble of privilege and don’t understand the damage they are doing is immaterial. People want a change of direction and to see things done a different and better way.

    “Any politician or political party that ignores working people and their communities does so at their peril,” said Wagstaff.

    View the results

    MIL OSI New Zealand News –

    January 28, 2025
  • MIL-OSI USA: Federal Court Orders Lions of Forex and Owner to Pay $685,000 For Foreign Currency Fraud

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — The Commodity Futures Trading Commission today announced the Southern District of Florida entered orders of default final judgement against Roberto Pulido aka Berto Delvanicci and his company, Lions of Forex LLC, both of Miami, Florida.
    The orders stem from the CFTC’s complaint filed Sept. 28, 2023, charging Pulido with fraudulently soliciting at least four clients to trade leveraged or margined retail off-exchange foreign currency (forex) and charging LOF with aiding and abetting Pulido’s fraudulent scheme [See CFTC Press Release No. 8795-23].
    Under the terms of the orders, the defendants are required to pay, jointly and severally, approximately $172,000 in restitution to defrauded clients and over $516,000 in civil monetary penalties. The court’s decision also permanently enjoins the defendants from engaging in conduct that violates the Commodity Exchange Act, as charged, and permanently bans them from registering with the CFTC and from trading in any CFTC-regulated markets. The orders resolve the CFTC’s lawsuit against both defendants.
    Case Background
    The orders filed Nov. 13, 2024, find from approximately January 2019 to March 2021, Pulido, aided by LOF, fraudulently solicited clients to trade leveraged or margined retail off-exchange forex on their behalf. Several clients subscribed to a retail forex signals trading service LOF offered that would send signals to buy or sell retail forex for a monthly fee, and, for a higher monthly fee, offered live one-on-one training with Pulido. LOF offered this signals trading service through its website which touted Pulido as a “seven-figure trader.” Pulido, in various social media platforms claimed significant profits trading retail forex. After prospective clients were identified through LOF’s signals subscriptions, Pulido made various material misrepresentations and omissions to the clients, including falsely representing they would earn guaranteed monthly profits by having Pulido use his discretion to trade retail forex on their behalf, and clients could withdraw their funds at any time. However, Pulido failed to pay the promised monthly returns and when clients requested their funds, he did not return a significant portion of the clients’ funds.
    The orders also find LOF aided Pulido’s fraud by, among other things, receiving client funds into its own bank accounts; allowing Pulido to use the accounts in connection with his fraudulent scheme; touting Pulido’s supposed trading expertise on the LOF website; and using the LOF email address to communicate with clients whom Pulido defrauded.   
    The CFTC appreciates the assistance of the Florida Office of Financial Regulation, the Eastern Caribbean Securities Regulatory Commission, and the Financial Services Authority of St. Vincent & the Grenadines.
    The Division of Enforcement staff responsible for this action include Elizabeth C. Brennan, David MacGregor, Lenel Hickson, Manal S. Sultan and former staff member Steven I. Ringer.   
    CFTC’s Commodity Fraud Advisory
    The CFTC has issued several customer protection fraud advisories that provide the warning signs of fraud, including the Foreign Currency (Forex) Trading Fraud Advisory, to help customers identify this sort of scam.
    The CFTC strongly urges the public to verify a company’s registration with the Commission at NFA BASIC before committing funds. If unregistered, a customer should be wary of providing funds to that entity
    Suspicious activities or information, such as possible violations of commodity trading laws, should be reported to the Division of Enforcement via a Toll-Free Hotline 866-FON-CFTC (866-366-2382) or file a tip or complaint online or contact the CFTC Whistleblower Office.  Whistleblowers are eligible to receive between 10 and 30 percent of the monetary sanctions collected paid from the CFTC Customer Protection Fund financed through monetary sanctions and paid to the CFTC by violators of the CEA.

    MIL OSI USA News –

    January 28, 2025
  • MIL-OSI Security: Indianapolis Man Sentenced to Over Six Years in Federal Prison for Armed Carjacking of U.S. Postal Service Truck

    Source: Office of United States Attorneys

    INDIANAPOLIS— Robert Powell, 23, of Indianapolis, has been sentenced to 79 months in federal prison, followed by three years of supervised release, after pleading guilty to robbery of mail.

    According to court documents, on the morning of June 15, 2022, a United States Postal Service worker was in a Postal truck delivering mail at an apartment complex in Avon. At approximately 10:15 a.m., Powell approached the postal worker on foot, wearing a mask over his face and displaying a firearm. Powell ordered the carjacking victim to get out of the truck and leave her belongings inside.

    Powell stole the truck and drove it out of the apartment complex at a high rate of speed for about a mile before pulling over to meet with another person waiting in a Mazda 6 sedan. Another letter carrier in the area saw the victim’s mail truck speed by and noticed that something was amiss. The second letter carrier followed the stolen truck and saw Powell and the other individual take mail and parcels from the postal truck and put them in the Mazda. The pair noticed the second mail truck and fled the scene, leaving the stolen postal vehicle behind as the second carrier called 911.

    As the investigation continued, U.S. Postal Inspectors located Powell’s Facebook account, “Syko Bob.” On this account, Powell regularly solicited bank account information from other users, in furtherance of a type of fraud called card cracking, even going as far as attempting to recruit a USPS mail carrier into his scheme. Card cracking is deceptive practice where scammers convince individuals to share their bank account information, so the scammer can use their account to deposit fraudulent checks or other financial instruments. Scammers obtain these stolen checks by either stealing mail (as Powell did in this case) or purchasing stolen checks from other criminals. The scammer then alters the stolen checks, deposits them into the other individual’s account, and withdraws the funds as quickly as possible, sometimes splitting the profit with the account holder.

    “This criminal chose to threaten the life of a letter carrier at gun point, engaging in gun violence to facilitate the fraud scheme he perpetrated against countless victims. Fortunately, the letter carrier was not physically harmed, but the lasting trauma he inflicted is palpable,” said John E. Childress, Acting United States Attorney for the Southern District of Indiana. “Letter carriers should not have to live in fear of gun violence simply for doing their jobs. Americans should not have to fear that their important financial documents will be stolen and exploited by fraudsters who wreak financial havoc. The serious federal prison sentence in this case demonstrates that there will be serious consequences for violence against public servants and fraud against the public. I commend the Postal Inspection Service, the Avon Police Department, and our federal prosecutor for their commitment to seeking justice for letter carriers and the public who depend upon them.”

    “As postal inspectors, we are committed to ensuring the safety of USPS employees and the sanctity and security of the mail. Thanks to the hard work of our inspectors and the Avon Police Department, Mr. Powell can no longer threaten these,” said Inspector in Charge Rodney Hopkins. “I would also like to extend my appreciation to AUSA Massa for ensuring justice was served in this case.”

    The U.S. Postal Inspection Service and Avon Police Department investigated this case. The sentence was imposed by U.S. District Judge James R. Sweeney II.

    Acting U.S. Attorney Childress thanked Assistant U.S. Attorney Kelsey L. Massa, who prosecuted this case.

    ###

    MIL Security OSI –

    January 28, 2025
  • MIL-OSI Security: Eight Defendants Arrested on Federal Grand Jury Indictment Alleging Large-Scale Smuggling Scheme from China through L.A.-Area Ports

    Source: Office of United States Attorneys

    LOS ANGELES – Federal law enforcement has arrested eight defendants charged in an indictment alleging a conspiracy among logistic companies’ executives, warehouse owners and truck drivers to smuggle hundreds of millions of dollars’ worth of counterfeit and other illegal goods from China into the United States via the Ports of Los Angeles and Long Beach, the Justice Department announced today.

    The 15-count indictment, returned last month and unsealed Friday, charges nine defendants with conspiracy, smuggling and breaking customs seals. The defendants allegedly took containers flagged for off-site secondary inspection, unloaded the contraband, then stuffed the targeted containers with filler cargo to deceive customs officials and evade law enforcement.

    During the investigation into this group, investigators seized more than $130 million in contraband, and the organization is believed to be responsible for smuggling at least $200 million worth of goods. According to the indictment, a search of one warehouse used by the group led to the seizure in June 2024 of $20 million worth of counterfeit items including shoes, perfume, luxury handbags, apparel and watches.

    Seven defendants were arrested Friday, an eighth was taken into custody Saturday evening, and one defendant is a fugitive. The seven arrested last week were arraigned Friday in United States District Court, where each pleaded not guilty to the charges against them. A trial date was scheduled for March 18. The eighth defendant, who was arrested on unrelated state charges, is expected to be arraigned in federal court in the coming days.

    “Secure seaports and borders are critical to our national security,” said Acting United States Attorney Joseph T. McNally. “The smuggling of huge amounts of contraband from China through our nation’s largest port hurts American businesses and consumers. The charges and arrests here demonstrate our commitment to enforce our customs laws and keep the American public safe.”     

    “Homeland Security Investigations (HSI) Los Angeles and its partners are committed to enforcing customs laws and practices, facilitating legitimate trade, and protecting the integrity of the nation’s supply chain,” said HSI Los Angeles Special Agent in Charge Eddy Wang. “The $1.3 billion dollars’ worth of contraband seized during the investigation into this type of scheme illuminates how complex smuggling schemes try to exploit our legitimate trade practices and the American consumer.”

    The 15-count indictment details a conspiracy to coordinate the shipment of large quantities of contraband from China to the United States through the Port of Los Angeles from at least August 2023 to June 2024. The defendants charged are:

    • Weijun Zheng, 57, a.k.a. “Sonic,” of Diamond Bar, the lone fugitive in the case, who controls several logistics companies operating in the Los Angeles area;
    • Hexi Wang, 32, of El Monte, who manages K&P International Logistics LLC, a City of Industry-based company that hires commercial truckers to transport shipping containers from the Port of Los Angeles;
    • Jin “Mark” Liu, 42, of Irvine, the owner of K&P International Logistics LLC and who managed the finances of one of the warehouses where contraband was unloaded and issued payments to truck drivers who transported smuggled goods;
    • Dong “Liam” Lin, 31, of Hacienda Heights, who – along with Zheng – controlled and operated one of the contraband warehouses;
    • Marck Anthony Gomez, 49, of West Covina, the owner and operator of Fannum Trucks LLC, a West Covina-based company that coordinated the movement of shipping containers from the Port of Los Angeles, including large shipments of contraband smuggled into the United States from China;
    • Andy Estuardo Castillo Perez, 32, of Apple Valley, a driver for M4 Transportation Inc., a Carson-based company that transports shipping containers from the Port of Los Angeles;
    • Jesse James Rosales, 41, of Apple Valley, who coordinated truckers from the ports to warehouses;
    • Daniel Acosta Hoffman, 41, of Hacienda Heights, worked with Rosales to bring cargo containers from the Port of Los Angeles to warehouses; and
    • Galvin Biao Liufu, 33, of Ontario, directed and managed truck drivers to bring the contraband into the warehouses.

    According to the indictment, Zheng, Wang, Liu and others maintained and operated warehouses to store, conceal and sell large amounts of contraband goods that were illegally imported into the United States from China. When the contraband containers were selected by U.S. Customs and Border Protection (CBP) for inspection, the defendants hired commercial truck drivers to transport the containers from the Port of Los Angeles to locations that the conspirators controlled, including warehouses in the City of Industry that were controlled or managed by Zheng, Wang and others.

    At these locations, co-conspirators broke the security seals on the shipping containers and removed the contraband from inside. Then, they affixed counterfeit security seals onto the containers to conceal that cargo had been removed from them. Zheng, Wang and others then directed co-conspirators to transport the containers – after they had been emptied of much of their original cargo and re-secured with counterfeit seals – to CBP-authorized locations for the remaining cargo to be presented to customs officials for inspection.

    Zheng, Wang, Liu and others paid fees to co-conspirators, including Gomez and Castillo Perez, that were substantially above normal trucking fees to transport the contraband shipping containers.

    To date, law enforcement has seized more than $1.3 billion worth of counterfeit goods associated with this and similar seal-swapping schemes.

    “It was a team of CBP agriculture specialists assigned to the Los Angeles/Long Beach seaport who in 2023, during a routine examination of a container made the initial discovery,” said Cheryl Davies, U.S. Customs and Border Protection, Director of Field Operations in Los Angeles. “This case attests to their unwavering vigilance, upmost professionalism, and keen focus in protecting the integrity of lawful trade, a key component of our critical national security mission.”

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    If convicted of all charges, the defendants would face a statutory maximum sentence of five years in federal prison for each conspiracy count, up to 10 years in federal prison for each count of breaking customs seals, and up to 20 years in prison for each smuggling count.

    Homeland Security Investigations, U.S. Customs and Border Protection, and Coast Guard Investigative Services are investigating this matter.

    This effort is part of an Organized Crime Drug Enforcement Task Force (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF. 

    Assistant United States Attorneys Colin S. Scott and Amanda B. Elbogen of the Terrorism and Export Crimes Section are prosecuting this matter.

    MIL Security OSI –

    January 28, 2025
  • MIL-OSI Russia: IMF Executive Board Concludes 2024 Article IV Consultation with Cambodia

    Source: IMF – News in Russian

    January 27, 2025

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Cambodia.

    Cambodia’s economy has continued to recover, albeit at a modest pace. We project real GDP to grow from 5.5 percent in 2024 to 5.8 percent in 2025 and inflation to pick up from 0.5 percent in 2024 to 2 percent in 2025 and remain contained. However, risks to the outlook are tilted to the downside from both external factors and domestic vulnerabilities, including from policy changes by major trading partners, geoeconomic fragmentation, and continued weakness in the construction and real estate sectors.

    The recovery remains uneven. Real GDP growth is driven mainly by external demand, with a strong rebound in garment exports and high growth in agricultural exports. Tourism has experienced a structural shift in its composition, resulting in a lagged recovery in tourism receipts. Growth in non-tradable sectors remains weak. After a sustained credit expansion that lifted the credit-to-GDP ratio from 24 percent in 2010 to 135 percent in 2023, credit growth has come to a near halt. The construction and real estate sectors are undergoing a correction, with rising non-performing loans and emerging signs of private-sector debt overhang.

    We project the fiscal deficit at 2.4 percent of GDP in 2025, down from 3 percent in 2024, with a gradual fiscal consolidation envisaged in the medium-term fiscal framework. Public debt remains well-contained, staying below 30 percent of GDP over the next decade. The current account balance is projected to swing back to a deficit of 1.8 percent of GDP in 2024 as strong demand for imports outpaces the recovery in exports and tourism. The deficit is projected to increase somewhat in 2025, reaching 2.5 percent of GDP, with export growth expected to moderate. 

    Executive Board Assessment2

    Executive Directors welcomed the continuing recovery of the Cambodian economy, driven by strong growth in garment and agricultural exports, and improving tourism activity. Nonetheless, the recovery has been uneven, and while growth is expected to continue, risks to the outlook are tilted to the downside. Directors underscored the importance of policies to safeguard macro financial stability, ensure a durable and inclusive recovery, and achieve the authorities’ development goals over the medium term.

    Directors supported a neutral fiscal stance in the near term and highlighted the importance of gradual and high-quality consolidation over the medium term underpinned by sound fiscal frameworks to maintain debt sustainability and strengthen economic resilience. They welcomed the recent publication of a medium-term fiscal framework but recommended strengthening it with more conservative and transparent fiscal rules. Directors stressed the need to further mobilize revenues through rationalizing tax exemptions and implementing tax policy reforms, while enhancing spending efficiency and strengthening public investment management, in order to help rebuild fiscal buffers and safeguard priority social and capital spending. Directors welcomed efforts to foster the development of the domestic government bond market as Cambodia’s access to concessional foreign financing will be reduced when it graduates from Least Developed Country status. They also stressed the need for sound management of fiscal risks from state-owned enterprises and public-private partnerships.

    Directors supported the measured pace of monetary policy normalization while maintaining adequate financial system liquidity. They encouraged continuing efforts to modernize the monetary policy framework to enhance policy transmission and support de-dollarization. Noting the ongoing corrections in the construction and real estate sectors, declining FDI inflows, and rising nonperforming loans, Directors encouraged phasing out forbearance measures and developing a comprehensive plan to safeguard financial stability. They recommended strengthening risk-based supervision, improving macroprudential policy, enhancing coordination among financial sector supervisory agencies, and intensifying oversight of the real estate sector.

    Directors highlighted the importance of structural reforms to promote economic diversification and improve competitiveness. They encouraged the authorities’ efforts to enhance human capital, invest in infrastructure, strengthen the business environment, address climate vulnerabilities, and promote renewable energy to attract more diversified FDI. They also underscored the importance of strengthening governance and institutions, improving transparency, enhancing the AML/CFT framework, and addressing data limitations through  capacity development.

    Table 1. Cambodia: Selected Economic Indicators, 2021 – 29 1/

    Per capita GDP (2022, US$): 1,546                   Life expectancy (2019, years): 75.5

    Population (2022, million):    16.7                    Literacy rate (2019, percent):  87.7

     

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    Est.

    Proj.

    Output and prices (annual percent change)

                     

    GDP at constant prices

    3.1

    5.1

    5.0

    5.5

    5.8

    6.2

    6.0

    6.0

    6.0

    Inflation (end-year)

    3.7

    2.9

    2.7

    1.5

    2.1

    3.2

    3.0

    3.0

    3.0

    (Annual average)

    2.9

    5.3

    2.1

    0.4

    2.1

    3.2

    3.0

    3.0

    3.0

                       

    Saving and investment balance

    (in percent of GDP)

                     

    Gross national saving

    0.8

    15.6

    33.6

    30.7

    30.0

    29.2

    29.2

    29.2

    29.3

    Government saving

    0.3

    3.1

    4.1

    5.1

    6.1

    7.1

    8.1

    9.1

    10.1

    Private saving

    0.5

    12.5

    29.5

    25.6

    23.9

    22.1

    21.1

    20.1

    19.2

    Gross fixed investment

    30.4

    34.6

    32.3

    32.5

    32.5

    32.5

    32.5

    32.5

    32.5

    Government investment

    6.6

    5.6

    5.8

    5.2

    4.5

    4.3

    4.2

    3.9

    3.8

    Private investment

    23.8

    29.0

    26.5

    27.4

    28.0

    28.2

    28.4

    28.6

    28.7

                       

    Money and credit (annual percent change, unless otherwise indicated)

                     

    Broad money

    16.4

    8.2

    12.5

    8.5

    7.9

    10.5

    11.3

    9.1

    9.0

    Private sector credit

    23.6

    18.5

    3.5

    4.0

    7.0

    10.0

    10.0

    10.0

    10.0

    Velocity of money 2/

    1.1

    1.0

    1.0

    1.0

    1.0

    1.0

    1.0

    1.0

    1.0

                       

    Public finance (in percent of GDP)

                     

    Revenue

    15.8

    18.1

    15.9

    14.9

    14.9

    14.9

    15.0

    15.1

    15.2

    Domestic revenue

    14.7

    16.4

    14.7

    13.7

    13.7

    13.8

    14.0

    14.1

    14.4

    Of which: Tax revenue

    13.2

    14.7

    13.0

    12.1

    12.1

    12.2

    12.3

    12.5

    12.7

    Grants

    1.1

    1.7

    1.2

    1.2

    1.1

    1.1

    1.0

    0.9

    0.8

    Expenditure

    21.0

    18.4

    18.7

    17.9

    17.3

    17.1

    17.1

    17.2

    17.1

    Expense

    14.4

    12.8

    12.9

    12.7

    12.8

    12.8

    13.0

    13.3

    13.4

    Net acquisition of nonfinancial assets

    6.6

    5.6

    5.8

    5.2

    4.5

    4.3

    4.2

    3.9

    3.8

    Net lending (+)/borrowing(-)

    -5.2

    -0.3

    -2.8

    -3.0

    -2.4

    -2.2

    -2.1

    -2.1

    -2.0

    Net lending (+)/borrowing(-) excluding grants

    -6.3

    -2.0

    -4.0

    -4.2

    -3.6

    -3.3

    -3.2

    -3.0

    -2.8

    Net acquisition of financial assets

    -3.6

    1.4

    -0.3

    -0.2

    0.5

    0.3

    0.2

    0.3

    0.4

    Net incurrence of liabilities 3/

    1.6

    1.7

    2.5

    2.8

    2.9

    2.5

    2.4

    2.4

    2.4

    Total public debt (In percent of GDP)

    25.9

    25.0

    25.7

    26.8

    27.8

    27.8

    27.8

    27.7

    27.7

    Balance of payments (in millions of dollars, unless otherwise indicated)

                     

    Exports, f.o.b.

    19,527

    23,175

    23,569

    26,745

    28,595

    30,942

    33,449

    36,307

    39,457

       (Annual percent change)

    5.7

    18.7

    1.7

    13.5

    6.9

    8.2

    8.1

    8.5

    8.7

    Imports, f.o.b.

    -30,726

    -31,995

    -26,553

    -31,055

    -33,244

    -35,626

    -38,605

    -41,871

    -45,434

       (Annual percent change)

    46.4

    4.1

    -17.0

    17.0

    7.0

    7.2

    8.4

    8.5

    8.5

    Current account (including official transfers)

    -10,886

    -7,572

    555

    -847

    -1,269

    -1,794

    -1,993

    -2,175

    -2,283

        (In percent of GDP)

    -29.6

    -19.0

    1.3

    -1.8

    -2.5

    -3.3

    -3.3

    -3.4

    -3.2

    Gross official reserves 4/

    20,265

    17,805

    19,998

    20,753

    23,064

    26,887

    30,951

    35,422

    40,351

        (In months of prospective imports)

    7.0

    7.3

    6.9

    6.6

    6.9

    7.4

    7.9

    8.3

    8.7

                       

    Total public debt (in millions of dollars)

    9,505

    9,971

    11,187

    12,473

    13,932

    15,218

    16,508

    17,912

    19,453

    (In percent of GDP)

    25.9

    25.0

    25.7

    26.8

    27.8

    27.8

    27.8

    27.7

    27.7

    External debt (in millions of dollars, unless                                    otherwise indicated)

                     

    Public external debt

    9,505

    9,971

    11,187

    12,387

    13,726

    14,939

    16,178

    17,548

    18,978

    (In percent of GDP)

    25.9

    25.0

    25.7

    26.6

    27.4

    27.3

    27.2

    27.1

    27.0

    Public debt service

    397

    427

    449

    418

    439

    458

    482

    506

    533

    (In percent of exports of goods and services)

    2.0

    1.7

    1.6

    1.3

    1.3

    1.2

    1.2

    1.2

    1.1

    Nominal effective exchange rate (index, trade partners by CPI)

    113.3

    122.4

    123.3

    …

    …

    …

    …

    …

    …

    Real effective exchange rate

    (index, based on CPI)

    125.3

    134.0

    132.4

    …

    …

    …

    …

    …

    …

    Memorandum items:

                     

    Nominal GDP (in billions of Riels)

    150,793

    164,059

    177,719

    190,603

    205,946

    225,291

    245,726

    267,845

    292,066

    (In millions of U.S. dollars)

    36,797

    39,838

    43,304

    46,568

    50,180

    54,745

    59,548

    64,733

    70,395

    Sources: Cambodian authorities; and IMF staff estimates and projections.

    1/ Based on the rebased GDP.

                   

    2/ Ratio of nominal GDP to the average stock of broad money.

                   

    3/ Includes statistical discrepancy.

                   

    4/ Includes unrestricted foreign currency deposits held at the National Bank of Cambodia.

                   

    [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] At the conclusion of the discussion, the Managing Director, as Chair of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summing up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.  

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Alexander Muller

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

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2025/01/27/pr-25017-cambodia-imf-executive-board-concludes-2024-article-iv-consultation-with-cambodia

    MIL OSI

    MIL OSI Russia News –

    January 28, 2025
  • MIL-OSI: Credit Agricole SA : Crédit Agricole Personal Finance & Mobility finalizes the GAC Leasing equity project to support the growth of GAC Group’s electric vehicle sales in China

    Source: GlobeNewswire (MIL-OSI)

    Massy – January 27th, 2025

    Crédit Agricole Personal Finance & Mobility
    finalizes the GAC Leasing equity project to support the growth of GAC Group’s electric vehicle sales in China

    • CA Personal Finance & Mobility finalizes the planned acquisition of 50% of the equity interests of GAC Finance Leasing Co. Ltd. (GAC Leasing), which becomes Guangzhou GAC-Sofinco Finance Leasing Co Ltd (GAC-Sofinco Leasing), the leasing company of one of the largest Chinese manufacturers Guangzhou Automobile Group Co., Ltd. (GAC Group), via a reserved capital increase.
    • With this new joint venture, CA Personal Finance & Mobility will offer financial and operational leasing solutions on the Chinese market in 2025 and will thus promote the deployment of electric vehicles in China.
    • This transaction consolidates a partnership existing since 2009 between CA Personal Finance & Mobility and GAC Group with the creation of GAC-Sofinco AFC, a 50-50 joint venture. The latter operates throughout China and offers automotive financing and services to the GAC-Honda, GAC-Toyota, AION, HYPTEC and GAC Motor networks, serving more than 3,000 dealers.

    CA Personal Finance & Mobility becomes a 50% shareholder in GAC-Sofinco Leasing

    Following a reserved capital increase, CA Personal Finance & Mobility owns 50% of GAC-Sofinco Leasing. The company has been operating on the Chinese market since 2004 and offers financial and operational leasing solutions to GAC customers and its dealer network.

    Through this transaction, CA Personal Finance & Mobility and GAC group are strengthening the leasing offer proposed to Chinese customers, thereby stimulating the sale of electric vehicles, which already represent 60% of the leasing contracts of the new GAC-Sofinco Leasing on a portfolio of more than 200,000 vehicles.

    All necessary authorizations from competition authorities and competent regulators have been obtained. The impact on the CET1 ratio of Crédit Agricole S.A. and that of the Crédit Agricole group will be very limited. 

    « This transaction reaffirms the importance of our long-standing partnership with GAC group. It will enable us to support together and over the long term the development of the particularly dynamic electric automobile market in China. »

    Stéphane PRIAMI – CEO of Crédit Agricole Personal Finance & Mobility

    Key figures:

    • In 2023, GAC group was the 4th largest automotive group in China
    • More than 2.5 million vehicles sold in 2023 worldwide
    • 39,90% of electrified vehicles sold in 2023

    Press Contact

    Adeline Tardif
    presse@ca-cf.fr
    +33 (0)1 87 38 02 88 / +33 (0)6 20 18 84 92

    About Crédit Agricole Personal Finance & Mobility

    Crédit Agricole Personal Finance & Mobility is a leader in personal financing and a provider of access to all mobility solutions in Europe. It distributes directly, at the point of sale or on its partners’ e-commerce platforms, a wide range of financing solutions – amortizable credit, revolving credit, leasing and credit buyback – with associated services including insurance, split payment solutions and services dedicated to mobility, with the aim of meeting the challenges of energy transition in mobility, housing and consumption. Its financing solutions and services are offered in France via Sofinco, in Italy via Agos, in Germany via Creditplus, in Portugal via Credibom, in Spain via Sofinco Espana, in Morocco via Wafasalaf, and in China via GAC-Sofinco (automotive financing only). Crédit Agricole Personal Finance & Mobility aims to be the leader in electric mobility in Europe and offers a mobility continuum in the 22 countries where it is present (leasing, medium and short-term rental, subscription, car sharing, installation of charging stations, etc.). The company relies on Leasys, a joint venture equally owned by Stellantis, CA Auto Bank and Drivalia, the pan-European leader in automotive financing, rental and mobility, Crédit Agricole Mobility Services, a comprehensive service offering dedicated to mobility and the development of automotive financing in its universal subsidiaries in Europe and in Crédit Agricole Regional Banks and at LCL via Agilauto. CA Personal Finance & Mobility acts every day in the interest of its 17.2 million customers and society. As of December 31, 2023, CA Personal Finance & Mobility managed €113 billion in outstanding credit. More information: www.ca-personalfinancemobility.com

    Attachment

    • 2025-01-27- PR-Closing GAC Leasing EN

    The MIL Network –

    January 28, 2025
  • MIL-OSI: RUBIS: Transactions carried out within the framework of the share buyback programme (excluding transactions within the liquidity agreement) – 20 to 24 January 2025

    Source: GlobeNewswire (MIL-OSI)

    Paris, 27 January 2025, 06:00pm

    Issuer Name: Rubis (LEI: 969500MGFIKUGLTC9742)
    Category of securities: Ordinary shares (ISIN: FR0013269123)
    Period: From 20 to 24 January 2025

    Upon the authorisation granted by the Ordinary Shareholders’ Meeting held on 11 June 2024 to implement a share buyback program, the Company carried out, between 20 to 24 January 2025, the repurchases of its own shares in order to transfer them to employees and/or corporate officers of the Company and/or companies related to it in the context of a shareholding plan.

    Aggregate presentation per day and per market:

    Name of issuer Identification code of issuer (Legal Entity Identifier) Day of transaction Identification code of financial instrument Aggregated daily volume
    (in number of shares)
    Daily weighted average price of the purchased shares * Market (MIC Code)
    RUBIS 969500MGFIKUGLTC9742 21/01/2025 FR0013269123 2,488 25.0174 AQEU
    RUBIS 969500MGFIKUGLTC9742 21/01/2025 FR0013269123 10,558 24.9677 CEUX
    RUBIS 969500MGFIKUGLTC9742 21/01/2025 FR0013269123 2,444 24.9598 TQEX
    RUBIS 969500MGFIKUGLTC9742 21/01/2025 FR0013269123 23,800 24.9288 XPAR
    RUBIS 969500MGFIKUGLTC9742 22/01/2025 FR0013269123 2,508 24.9153 AQEU
    RUBIS 969500MGFIKUGLTC9742 22/01/2025 FR0013269123 10,840 24.9125 CEUX
    RUBIS 969500MGFIKUGLTC9742 22/01/2025 FR0013269123 2,483 24.9325 TQEX
    RUBIS 969500MGFIKUGLTC9742 22/01/2025 FR0013269123 24,496 24.9205 XPAR
    RUBIS 969500MGFIKUGLTC9742 23/01/2025 FR0013269123 2,403 24.8564 AQEU
    RUBIS 969500MGFIKUGLTC9742 23/01/2025 FR0013269123 11,015 24.8576 CEUX
    RUBIS 969500MGFIKUGLTC9742 23/01/2025 FR0013269123 2,593 24.8509 TQEX
    RUBIS 969500MGFIKUGLTC9742 23/01/2025 FR0013269123 22,660 24.8559 XPAR
    RUBIS 969500MGFIKUGLTC9742 24/01/2025 FR0013269123 2,505 25.0306 AQEU
    RUBIS 969500MGFIKUGLTC9742 24/01/2025 FR0013269123 11,520 25.0218 CEUX
    RUBIS 969500MGFIKUGLTC9742 24/01/2025 FR0013269123 2,886 25.0233 TQEX
    RUBIS 969500MGFIKUGLTC9742 24/01/2025 FR0013269123 23,570 25.0212 XPAR
    * Four-digit rounding after the decimal TOTAL 158,769 24.9368  

    Detailed presentation per transaction:

    Detailed information on the transactions carried out from 20 to 24 January 2025 is available on the Company’s website (www.rubis.fr) in the section “Investors – Regulated information – Share buyback programme”.

      Contact
      RUBIS – Legal Department
      Tel. : + 33 (0)1 44 17 95 95

    Attachment

    • PR – Présentation agrégée – Période du 20 au 24 janvier 2025

    The MIL Network –

    January 28, 2025
  • MIL-OSI Economics: IMF Executive Board Concludes 2024 Article IV Consultation with Cambodia

    Source: International Monetary Fund

    January 27, 2025

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Cambodia.

    Cambodia’s economy has continued to recover, albeit at a modest pace. We project real GDP to grow from 5.5 percent in 2024 to 5.8 percent in 2025 and inflation to pick up from 0.5 percent in 2024 to 2 percent in 2025 and remain contained. However, risks to the outlook are tilted to the downside from both external factors and domestic vulnerabilities, including from policy changes by major trading partners, geoeconomic fragmentation, and continued weakness in the construction and real estate sectors.

    The recovery remains uneven. Real GDP growth is driven mainly by external demand, with a strong rebound in garment exports and high growth in agricultural exports. Tourism has experienced a structural shift in its composition, resulting in a lagged recovery in tourism receipts. Growth in non-tradable sectors remains weak. After a sustained credit expansion that lifted the credit-to-GDP ratio from 24 percent in 2010 to 135 percent in 2023, credit growth has come to a near halt. The construction and real estate sectors are undergoing a correction, with rising non-performing loans and emerging signs of private-sector debt overhang.

    We project the fiscal deficit at 2.4 percent of GDP in 2025, down from 3 percent in 2024, with a gradual fiscal consolidation envisaged in the medium-term fiscal framework. Public debt remains well-contained, staying below 30 percent of GDP over the next decade. The current account balance is projected to swing back to a deficit of 1.8 percent of GDP in 2024 as strong demand for imports outpaces the recovery in exports and tourism. The deficit is projected to increase somewhat in 2025, reaching 2.5 percent of GDP, with export growth expected to moderate. 

    Executive Board Assessment2

    Executive Directors welcomed the continuing recovery of the Cambodian economy, driven by strong growth in garment and agricultural exports, and improving tourism activity. Nonetheless, the recovery has been uneven, and while growth is expected to continue, risks to the outlook are tilted to the downside. Directors underscored the importance of policies to safeguard macro financial stability, ensure a durable and inclusive recovery, and achieve the authorities’ development goals over the medium term.

    Directors supported a neutral fiscal stance in the near term and highlighted the importance of gradual and high-quality consolidation over the medium term underpinned by sound fiscal frameworks to maintain debt sustainability and strengthen economic resilience. They welcomed the recent publication of a medium-term fiscal framework but recommended strengthening it with more conservative and transparent fiscal rules. Directors stressed the need to further mobilize revenues through rationalizing tax exemptions and implementing tax policy reforms, while enhancing spending efficiency and strengthening public investment management, in order to help rebuild fiscal buffers and safeguard priority social and capital spending. Directors welcomed efforts to foster the development of the domestic government bond market as Cambodia’s access to concessional foreign financing will be reduced when it graduates from Least Developed Country status. They also stressed the need for sound management of fiscal risks from state-owned enterprises and public-private partnerships.

    Directors supported the measured pace of monetary policy normalization while maintaining adequate financial system liquidity. They encouraged continuing efforts to modernize the monetary policy framework to enhance policy transmission and support de-dollarization. Noting the ongoing corrections in the construction and real estate sectors, declining FDI inflows, and rising nonperforming loans, Directors encouraged phasing out forbearance measures and developing a comprehensive plan to safeguard financial stability. They recommended strengthening risk-based supervision, improving macroprudential policy, enhancing coordination among financial sector supervisory agencies, and intensifying oversight of the real estate sector.

    Directors highlighted the importance of structural reforms to promote economic diversification and improve competitiveness. They encouraged the authorities’ efforts to enhance human capital, invest in infrastructure, strengthen the business environment, address climate vulnerabilities, and promote renewable energy to attract more diversified FDI. They also underscored the importance of strengthening governance and institutions, improving transparency, enhancing the AML/CFT framework, and addressing data limitations through  capacity development.

    Table 1. Cambodia: Selected Economic Indicators, 2021 – 29 1/

    Per capita GDP (2022, US$): 1,546                   Life expectancy (2019, years): 75.5

    Population (2022, million):    16.7                    Literacy rate (2019, percent):  87.7

     

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    Est.

    Proj.

    Output and prices (annual percent change)

                     

    GDP at constant prices

    3.1

    5.1

    5.0

    5.5

    5.8

    6.2

    6.0

    6.0

    6.0

    Inflation (end-year)

    3.7

    2.9

    2.7

    1.5

    2.1

    3.2

    3.0

    3.0

    3.0

    (Annual average)

    2.9

    5.3

    2.1

    0.4

    2.1

    3.2

    3.0

    3.0

    3.0

                       

    Saving and investment balance

    (in percent of GDP)

                     

    Gross national saving

    0.8

    15.6

    33.6

    30.7

    30.0

    29.2

    29.2

    29.2

    29.3

    Government saving

    0.3

    3.1

    4.1

    5.1

    6.1

    7.1

    8.1

    9.1

    10.1

    Private saving

    0.5

    12.5

    29.5

    25.6

    23.9

    22.1

    21.1

    20.1

    19.2

    Gross fixed investment

    30.4

    34.6

    32.3

    32.5

    32.5

    32.5

    32.5

    32.5

    32.5

    Government investment

    6.6

    5.6

    5.8

    5.2

    4.5

    4.3

    4.2

    3.9

    3.8

    Private investment

    23.8

    29.0

    26.5

    27.4

    28.0

    28.2

    28.4

    28.6

    28.7

                       

    Money and credit (annual percent change, unless otherwise indicated)

                     

    Broad money

    16.4

    8.2

    12.5

    8.5

    7.9

    10.5

    11.3

    9.1

    9.0

    Private sector credit

    23.6

    18.5

    3.5

    4.0

    7.0

    10.0

    10.0

    10.0

    10.0

    Velocity of money 2/

    1.1

    1.0

    1.0

    1.0

    1.0

    1.0

    1.0

    1.0

    1.0

                       

    Public finance (in percent of GDP)

                     

    Revenue

    15.8

    18.1

    15.9

    14.9

    14.9

    14.9

    15.0

    15.1

    15.2

    Domestic revenue

    14.7

    16.4

    14.7

    13.7

    13.7

    13.8

    14.0

    14.1

    14.4

    Of which: Tax revenue

    13.2

    14.7

    13.0

    12.1

    12.1

    12.2

    12.3

    12.5

    12.7

    Grants

    1.1

    1.7

    1.2

    1.2

    1.1

    1.1

    1.0

    0.9

    0.8

    Expenditure

    21.0

    18.4

    18.7

    17.9

    17.3

    17.1

    17.1

    17.2

    17.1

    Expense

    14.4

    12.8

    12.9

    12.7

    12.8

    12.8

    13.0

    13.3

    13.4

    Net acquisition of nonfinancial assets

    6.6

    5.6

    5.8

    5.2

    4.5

    4.3

    4.2

    3.9

    3.8

    Net lending (+)/borrowing(-)

    -5.2

    -0.3

    -2.8

    -3.0

    -2.4

    -2.2

    -2.1

    -2.1

    -2.0

    Net lending (+)/borrowing(-) excluding grants

    -6.3

    -2.0

    -4.0

    -4.2

    -3.6

    -3.3

    -3.2

    -3.0

    -2.8

    Net acquisition of financial assets

    -3.6

    1.4

    -0.3

    -0.2

    0.5

    0.3

    0.2

    0.3

    0.4

    Net incurrence of liabilities 3/

    1.6

    1.7

    2.5

    2.8

    2.9

    2.5

    2.4

    2.4

    2.4

    Total public debt (In percent of GDP)

    25.9

    25.0

    25.7

    26.8

    27.8

    27.8

    27.8

    27.7

    27.7

    Balance of payments (in millions of dollars, unless otherwise indicated)

                     

    Exports, f.o.b.

    19,527

    23,175

    23,569

    26,745

    28,595

    30,942

    33,449

    36,307

    39,457

       (Annual percent change)

    5.7

    18.7

    1.7

    13.5

    6.9

    8.2

    8.1

    8.5

    8.7

    Imports, f.o.b.

    -30,726

    -31,995

    -26,553

    -31,055

    -33,244

    -35,626

    -38,605

    -41,871

    -45,434

       (Annual percent change)

    46.4

    4.1

    -17.0

    17.0

    7.0

    7.2

    8.4

    8.5

    8.5

    Current account (including official transfers)

    -10,886

    -7,572

    555

    -847

    -1,269

    -1,794

    -1,993

    -2,175

    -2,283

        (In percent of GDP)

    -29.6

    -19.0

    1.3

    -1.8

    -2.5

    -3.3

    -3.3

    -3.4

    -3.2

    Gross official reserves 4/

    20,265

    17,805

    19,998

    20,753

    23,064

    26,887

    30,951

    35,422

    40,351

        (In months of prospective imports)

    7.0

    7.3

    6.9

    6.6

    6.9

    7.4

    7.9

    8.3

    8.7

                       

    Total public debt (in millions of dollars)

    9,505

    9,971

    11,187

    12,473

    13,932

    15,218

    16,508

    17,912

    19,453

    (In percent of GDP)

    25.9

    25.0

    25.7

    26.8

    27.8

    27.8

    27.8

    27.7

    27.7

    External debt (in millions of dollars, unless                                    otherwise indicated)

                     

    Public external debt

    9,505

    9,971

    11,187

    12,387

    13,726

    14,939

    16,178

    17,548

    18,978

    (In percent of GDP)

    25.9

    25.0

    25.7

    26.6

    27.4

    27.3

    27.2

    27.1

    27.0

    Public debt service

    397

    427

    449

    418

    439

    458

    482

    506

    533

    (In percent of exports of goods and services)

    2.0

    1.7

    1.6

    1.3

    1.3

    1.2

    1.2

    1.2

    1.1

    Nominal effective exchange rate (index, trade partners by CPI)

    113.3

    122.4

    123.3

    …

    …

    …

    …

    …

    …

    Real effective exchange rate

    (index, based on CPI)

    125.3

    134.0

    132.4

    …

    …

    …

    …

    …

    …

    Memorandum items:

                     

    Nominal GDP (in billions of Riels)

    150,793

    164,059

    177,719

    190,603

    205,946

    225,291

    245,726

    267,845

    292,066

    (In millions of U.S. dollars)

    36,797

    39,838

    43,304

    46,568

    50,180

    54,745

    59,548

    64,733

    70,395

    Sources: Cambodian authorities; and IMF staff estimates and projections.

    1/ Based on the rebased GDP.

                   

    2/ Ratio of nominal GDP to the average stock of broad money.

                   

    3/ Includes statistical discrepancy.

                   

    4/ Includes unrestricted foreign currency deposits held at the National Bank of Cambodia.

                   

    [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] At the conclusion of the discussion, the Managing Director, as Chair of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summing up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.  

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Alexander Muller

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

    @IMFSpokesperson

    MIL OSI Economics –

    January 28, 2025
  • MIL-OSI Russia: “You need to have the knowledge, skills and competencies to build a successful business in the Eastern markets”

    Translation. Region: Russian Federation –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    © Mikhail Dmitriev / Higher School of Economics

    HSE Expert Club “Eastern perspective» held its first event — a business session dedicated to launching and developing a successful business in India. The club was created by HSE experts to discuss tools, trends and insights on cooperation between Russia and the countries of Southeast Asia, the Near and Middle East, and North Africa. The participants were addressed by experts with many years of successful experience working in the Indian market in the interests of the world’s largest corporations.

    It is no coincidence that the first event of the Eastern Perspective was dedicated to India. Today, this country is the fastest growing economy in the world among the G20 countries with more than 7 percent annual GDP growth, a growing consumer market and high rates of technological progress. This opens up unique opportunities for Russian companies, emphasized the moderator of the event, Deputy Director for Marketing Communications at the National Research University Higher School of Economics Dmitry Chubarov.

    India is one of the most promising countries for entrepreneurs planning to start or grow their business.

    Leading world experts today call this country a “market of billions of chances,” said the associate professor Schools of Oriental Studies Faculty of World Economy and World Politics HSE University Olga Kharina. “Many countries want to have India as a partner, and Western countries are already doing this successfully. Therefore, we also need to use this chance in our own interests – the interests of business and, of course, the state,” she noted.

    Today, the dynamics of the development of Indian industries are as follows: the share of industrial products in the import structure reaches 50%, the annual growth of the beauty industry is 76%, the share of fintech in the volume of attracted financing among startups is 40%, and the share of e-commerce in the volume of attracted financing among startups is 20%. The average age of the population of this country is 28 years, which makes it one of the largest labor markets in the world. About 70% of the population is young people under 35 years old.

    In 2023, India accounted for more than 40% of all smartphone sales in Asia. The number of internet users in India is expected to reach 700 million by 2025. There are already about 450 million, and 1.2 billion mobile users. The Indian smartphone market is the fastest growing in the world. In addition, in 2020, a $ 1.4 trillion transport infrastructure plan was adopted, which includes improving roads, railways and airports. Textile exports are expected to reach $ 100 billion by 2027. India is the second largest producer of crude steel in the world, and the third largest aviation market. The value of the chemical and petrochemical industry reaches $ 1,178 billion, and auto component exports are worth $ 13.3 billion.

    Olga Kharina reviewed several cases related to the development of business of Russian entrepreneurs in India. Their experience showed that obtaining all the necessary permits for work in this country is a more complicated process than expected. It is also important to take into account the specifics of working with local regulatory authorities and carefully study the legislation and tax procedures.

    Olga Kharina also presented a “treasure map” of Indian states, each of which has its own economic characteristics and laws. Thus, the state of Maharashtra (where the financial center of Mumbai is located) is the largest taxpayer and an important center for business. The state of Uttar Pradesh is the most populous (more than 220 million people), but the economy is mainly agricultural. The state of Gujarat is a leader in the production and export of such goods as chemicals, petrochemicals and textiles.

    “India is located in the center of South Asia and has a strategic position as a gateway between East and West Asia. With access to the Indian Ocean, it plays a key role in trade and transport between the countries of Central Asia, the Middle East, Southeast Asia and East Africa. Russia and India maintain close economic ties that are strengthening every year. In recent years, various agreements have been signed on mutual trade, as well as on strategic partnership in the fields of energy, defense and technology,” the speaker emphasized.

    As for the most promising areas for business, India is one of the largest consumers of energy resources, and Russian companies can develop their activities in the field of oil and gas supplies, as well as participate in energy projects. Russia can also offer its developments in the field of IT and innovative technologies, especially in the field of artificial intelligence, machine learning and blockchain. In addition, India is an important importer of agricultural products, and Russian companies can supply there grain, fish, meat, dairy products. At the same time, Indian technologies in agribusiness can be useful for Russian farmers.

    The Indian government actively supports the “Make in India” program, which is aimed at developing manufacturing and stimulating foreign investment in the country.

    “You need to have the knowledge, skills and competencies to build a successful business in new markets, which we now call the Global East – friendly markets that are supported by both Russia and other countries,” emphasized Natalia Guseva, professor at the Faculty of World Economy and World Politics at the HSE and head of the HSE educational programs “Business with the East.”

    She presented the educational programs “Eastern Perspective” for entrepreneurs working with countries of the Near and Middle East, North Africa, and the Indo-Pacific region.

    The university currently offers three such programs. The flagship five-month program isEastern Perspective: Strategy and Tactics for Building a Business” combines the experience and practices of entering new markets in developed countries of the Global East. Intensive three-month program “Eastern Perspective: The Basics of Building a Business” is aimed at obtaining practical knowledge on business development, launching international projects in various sectors of the economy with the countries of the Global East. The three-week program “Eastern Perspective: The Practice of Building a Business in India” focuses on knowledge, strategies and practices for building a successful business in India.

    “You will have a clear understanding of the potential and specifics of Eastern markets depending on what company you work for or what startup you plan to do. When entering new markets, offering your products and services, you must have a clear understanding of the vectors and potentials of development, the features of the financial and tax systems. You also need to understand the main political trends, the features of the local society. You need to clearly assess the export potential, due to which you will compete. Most Russian companies that had experience in international business were mainly focused on the European markets, and that competition strategy was mainly based on low prices, but in the Eastern markets this strategy will be ineffective,” Natalia Guseva emphasized.

    Expert in developing GR tools and strategies for promoting companies on the Indian market, representative of the media conglomerate The Times of India Group in Russia Nair Devadathan spoke about the country’s features that businessmen entering this market should pay attention to. Thus, according to him, caste, religiosity and beliefs are very important in Indian society (for example, entrepreneurs build relationships with partners based on astrological horoscopes). Business connections are also of great importance: to enter the market, it is necessary to find a partner from among local residents – this way the company will be able to receive many preferences and more favorable conditions. “India should be understood as Bollywood,” he said. At the same time, this country loves Russian culture, especially theater and film adaptations.

    According to Nair Devadathan, not only large companies and medium-sized businesses can succeed in this country, but also small production facilities and even individual entrepreneurs – such examples already exist. At the same time, Indian consumers may be interested in absolutely any product, including those subject to sanctions, or services – for example, from the beauty industry or the arts, education or tourism.

    “Promoting Russia is a business in itself. All our young people use social networks, so you need to pay attention to this,” he is convinced.

    In conclusion, Dmitry Chubarov invited the business session participants to take the HSE educational programs dedicated to the East. “The expertise, experience and cases that will be discussed will not be based on abstract textbooks, but on the daily successful practice of both Russian and international companies that are currently operating in the Indian market,” he summed up.

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

    MIL OSI Russia News –

    January 28, 2025
  • MIL-OSI Security: Harford County Man Sentenced for Aggravated Identity Theft and Bank Fraud Scheme

    Source: Office of United States Attorneys

    Defendant also participated in scheme to illegally obtain $28,350 in unemployment insurance benefits from the State of California during COVID-19 Pandemic.

    Baltimore, Maryland – U.S. District Judge Julie R. Rubin sentenced Victor Ojo, 30, of Belcamp, Maryland, to 72 months in federal prison, followed by three years of supervised release.

    Victor Ojo received the sentence for aggravated identity theft and his role in an attempted bank-fraud scheme that had an intended loss amount of $1.5 million. Additionally, Victor Ojo admitted to participating in a fraudulent scheme to obtain $28,350 in unemployment insurance benefits. So, Judge Rubin ordered Victor Ojo to forfeit $20,014.03 and to pay $78,350 in restitution.

    Erek L. Barron, U.S. Attorney for the District of Maryland, announced the sentence with Andrew McKay, Special Agent in Charge of the Treasury Inspector General for Tax Administration’s (TIGTA) Mid-Atlantic Field Division, and Scott Moffit, Special Agent in Charge of TIGTA’s Cybercrime Investigations Division.

    According to his guilty plea, from April 2016 through at least August 2019, Victor Ojo conspired with Damilola Ojo, Jamelia Thompson, Raissa Kaossele, and others, to commit bank fraud using the Internal Revenue Service’s (IRS) Modernized Internet Employer Identification Number (MODIEIN) system. The MODIEIN is the IRS system that allows users to register for a unique Employer Identification Number (EIN). It requires users to enter the valid name and Social Security Number of a real living person to obtain an EIN for a business.

    The defendant and his co-conspirators created and used various EINs to carry out the scheme. They obtained many of the EINs from the IRS using stolen Personally Identifiable Information. These EINs, in conjunction with fraudulently obtained state business certificates, allowed the co-conspirators to open bank accounts at various financial institutions to deposit stolen and/or altered checks and to receive fraudulently obtained wire transfers and other funds. Many of the wire transfers were the result of Business Email Compromises. Once obtained, the co-conspirators rapidly withdrew the proceeds, transferring them to other bank accounts.

    Victor Ojo and his co-conspirators victimized individuals through identity theft, businesses through financial account compromise, and banks through misdirecting wire transfers and making fraudulent transactions. After Victor Ojo’s arrest, law enforcement discovered evidence linking him to fraudulent activity. Law enforcement found numerous financial documents; a jacket, shirt, and hat that they saw Victor Ojo wearing in bank-surveillance footage while interacting with the fraudulent accounts; and a $14,000 check with someone else’s name on it. They also found passports in other people’s names and a Colorado ID with authentication features in someone else’s name.

    In the plea agreement, Victor Ojo admitted that he engaged in additional fraudulent activities prior to his arrest for bank-fraud conspiracy. Specifically, Victor Ojo and co-conspirators fraudulently obtained $28,350 in unemployment insurance benefits from the State of California using a victim’s identification.

    Around August 1, 2021, the California Employment Development Department (EDD) issued a Bank of America debit card in that victim’s name to an address in Lanham, Maryland. The card was linked to a Bank of America account that the EDD deposited a total of $28,350 in unemployment insurance benefits into. 
     

    The EDD made the first deposit on August 8, 2021. On August 10, 11, 24, and 25, Victor Ojo used the card to withdraw thousands of dollars from various ATMs in Harford County, Maryland. Victor Ojo was also captured on surveillance cameras making the withdrawals on August 10, 11, and 25.

    U.S. Attorney Barron commended the TIGTA for its work in the investigation.  Mr. Barron also thanked Assistant U.S. Attorneys Joseph L. Wenner, Paul Riley, and John D’Amico who prosecuted the federal case. He also recognized Joanna B.N. Huber, Maryland COVID-19 Strike Force Paralegal Specialist, for her assistance.

    The District of Maryland Strike Force is one of five strike forces established throughout the United States by the U.S. Department of Justice to investigate and prosecute COVID-19 fraud, including fraud relating to the Coronavirus Aid, Relief, and Economic Security (CARES) Act.  The CARES Act was designed to provide emergency financial assistance to Americans suffering the economic effects caused by the COVID-19 pandemic.  The strike forces focus on large-scale, multi-state pandemic relief fraud perpetrated by criminal organizations and transnational actors.  The strike forces are interagency law enforcement efforts, using prosecutor-led and data analyst-driven teams designed to identify and bring to justice those who stole pandemic relief funds.

    For more information on the Department’s response to the pandemic, please visit https://www.justice.gov/coronavirus. Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    For more information about the Maryland U.S. Attorney’s Office, its priorities, and resources available to help the community, please visit www.justice.gov/usao-md and https://www.justice.gov/usao-md/community-outreach.

    ###

    MIL Security OSI –

    January 28, 2025
  • MIL-OSI Security: Suburban Chicago Businessman Sentenced to Three Years in Prison for Bank Fraud

    Source: Office of United States Attorneys

    CHICAGO — A suburban Chicago businessman has been sentenced to three years in federal prison for fraudulently obtaining millions of dollars in mortgage and vehicle loans and using stolen identities to secure credit from financial institutions.

    YALE SCHIFF fraudulently obtained mortgage loans, vehicle loans, lines of credit, and credit cards by making false statements to financial institutions regarding his employment, income, and encumbrances on the collateral he pledged for the loans.  After obtaining the loans, Schiff filed false documents with the Cook County Recorder of Deeds, causing the fraudulent release of the liens.  Schiff then pocketed the loan proceeds, causing losses to the lenders. Schiff used the same mortgaged properties for multiple loans, each time fraudulently removing the lien and keeping the proceeds.

    Schiff used various false and stolen identities to carry out his fraud scheme.  Schiff bought vehicles under the false identities and fraudulently removed liens on the cars before selling them for a profit.  He also opened bank accounts and lines of credit using the false identities and other aliases, funding the accounts with advances from other fraudulently obtained lines of credit and credit cards.  In one instance, Schiff used a credit card issued in the name of an elderly woman whom he knew was in a memory care facility at the time, and in another instance he used a credit card issued in the name of a friend who had passed away.

    Schiff, 50, of Riverwoods, Ill., pleaded guilty in 2023 to a federal bank fraud charge. In addition to the prison sentence, U.S. District Judge Mary M. Rowland on Jan. 16, 2025, ordered Schiff to pay $2,955,954 in restitution.

    The sentence was announced by Morris Pasqual, Acting United States Attorney for the Northern District of Illinois, Douglas S. DePodesta, Special Agent-in-Charge of the Chicago Field Office of the FBI, and Ruth Mendonça, Inspector-in-Charge of the Chicago Division of the U.S. Postal Inspection Service.

    “Defendant, over the course of at least 13 years, engaged in a calculated, sustained, prolonged, multi-faceted scheme to defraud multiple financial institutions, individual buyers of property, and individuals whose identity he used,” Assistant U.S. Attorney Sheri H. Mecklenburg argued in the government’s sentencing memorandum.  “Defendant’s conduct was prolonged, willful, and widespread.”

    Schiff’s brother, JASON SCHIFF, of Lincolnwood, Ill., and a business associate, DAVID IZSAK, of Chicago, were also charged as part of the federal investigation. Jason Schiff pleaded guilty to causing a false report and statement to be made to the U.S. Department of Housing and Urban Development.  Jason Schiff was sentenced to three years of probation and ordered to pay $306,610 in restitution. A jury convicted Izsak on ten counts of financial institution fraud.  Izsak is awaiting sentencing.

    MIL Security OSI –

    January 28, 2025
  • MIL-OSI Africa: African Mining Week (AMW) 2025 to Showcase Projects Advancing African Mining Value Addition

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

    CAPE TOWN, South Africa, January 27, 2025/APO Group/ —

    African Mining Week (AMW) 2025, taking place in Cape Town from October 1-3, will center on the theme, From Extraction to Beneficiation: Unlocking Africa’s Mineral Wealth. The event will highlight initiatives aimed at enhancing Africa’s mineral value chains and promoting local processing to drive economic growth.

    Research indicates that Africa could generate up to $2 billion in additional mining revenue and create up to 3.8 million jobs by 2030 through expanded manufacturing of value-added mining products. As Africa’s premier mining platform, AMW 2025 will convene global investors, policymakers and industry leaders to explore opportunities in Africa’s midstream and downstream sectors, featuring panel discussions, project showcases and high-level deal signings.

    Africa stands as a global leader in mining, home to unparalleled reserves of the minerals essential for shaping the future of technology and industry. To harness this vast potential, African Mining Week will serve as a premier platform for exploring the full spectrum of mining opportunities across the continent. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference (https://AECWeek.com/) from October 1-3, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town. Sponsors, exhibitors and delegates can learn more by contactingsales@energycapitalpower.com

    Africa’s push for local mineral processing is gathering momentum. In Zimbabwe, a ban on raw lithium exports implemented in 2022 has resulted in over $1 billion in processing investments. Key projects include the Rwizi Rukuru refinery, Shengxiang Investments’ lithium processing facility in Goromonzi, and Chengxin Lithium’s Sabi Star Mine concentrator, all contributing to domestic processing capacity. Similarly, Tanzania’s recent ban on raw lithium exports is driving international investment into value-added projects, while Nigeria has partnered with Avatar New Energy to establish a 400,000-ton-per-day lithium refinery launched in 2024.

    Ghana has also made headway with the inauguration of the Royal Ghana Gold Refinery last August, which represents its first facility for refining gold for export and  aligns with the nation’s strategy to drive economic growth through value addition. Guinea is collaborating with Emirates Global Aluminium to establish an alumina refinery, leveraging its substantial mineral resources.

    South Africa remains a leader in mineral beneficiation, utilizing its resources and industrial expertise to advance downstream processing. Key projects include the Thaba Joint Venture, set to begin production in early 2025, with an annual target of 13,000 ounces of platinum group metals and 400,000 tons of metallurgical-grade chrome concentrate from tailings and run-of-mine deposits. Meanwhile, the $4.5 billion KwaZulu-Natal Titanium Beneficiation Complex, led by Nyanza Light Metals, aims to produce 80,000 tons of titanium dioxide annually, reinforcing South Africa’s position in advanced mineral processing.

    AMW 2025 will be held alongside the African Energy Week: Invest in African Energies 2025 conference, offering delegates access to key players across mining, energy, and finance industries. Together, these events will provide unparalleled opportunities for collaboration and investment, driving Africa’s vision for value-added mining development.

    MIL OSI Africa –

    January 28, 2025
  • MIL-OSI: XMS Capital Partners Enhances Private Capital Raising and Merchant Banking Capabilities with the Addition of Paul Glover as Managing Director

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Jan. 27, 2025 (GLOBE NEWSWIRE) — XMS Capital Partners, LLC (“XMS”), a global, independent financial services firm focused on providing M&A, corporate advisory, capital raising and asset management services, is pleased to announce the addition of Paul Glover as Managing Director.

    “Paul brings exceptional expertise, connectivity and strategic thinking in XMS’ key sectors to the role. Paul has a unique blend of experience as an advisor, investor, operator and entrepreneur, providing the firm and our clients with invaluable insights and leadership. We see tremendous opportunity in expanding our capital raising and merchant banking capabilities,” said Ted Brombach, Co-Managing Partner at XMS.

    “I am very excited to be joining XMS in a role that enables me to bring to bear my various experiences to support the firm’s growth and enhance value for its clients,” said Mr. Glover. “I have great respect for the team and culture that XMS has built, and I look forward to working with my new colleagues.”

    About Paul Glover

    Mr. Glover joins XMS with over 30 years of experience in investment banking, capital markets, principal investing and strategic financial leadership. Based in New York City, Mr. Glover will work closely with XMS’ bankers in the US and Europe across sectors on capital raising and financing initiatives, as well as supporting the firm’s merchant banking activities.

    Most recently, Mr. Glover was Chief Financial Officer of CellPoint Digital, a payment orchestration platform, where he oversaw its finance, legal, HR and compliance functions. In addition, he also was involved in raising multiple financing rounds. Prior to CellPoint, Mr. Glover served as Head of Private Capital Markets at R.W. Pressprich, and as Chief Executive Officer of Bridgenorth Capital, a boutique investment bank he founded after working as a special situations investor at OneCapital Management. Mr. Glover previously held senior roles in capital markets at Bankers Trust and at Deutsche Bank where he sat on its Global Markets Management Committee as Global Co-Head of Structured Capital Markets. 

    About XMS Capital Partners
    XMS Capital Partners, LLC, established in 2006, is a global, independent, financial services firm providing M&A, corporate advisory, capital raising and asset management services to clients. It has offices in Chicago, Boston, Dallas and London. For more information, please visit www.xmscapital.com.

    Media Contact
    Samantha Bailey
    XMS Capital Partners
    Phone: 312.262.5642
    www.xmscapital.com

    The MIL Network –

    January 28, 2025
  • MIL-OSI Global: How Canada and the U.S. can still tackle climate change in a second Trump era

    Source: The Conversation – Canada – By Andy Hira, Professor of Political Science, Simon Fraser University

    U.S. President Donald Trump has once again withdrawn the United States from the Paris agreement on climate change.

    There is a palpable sense of fear among environmentalists and those concerned about climate change following Trump’s re-election. His “drill baby drill” support for fossil fuels in the U.S. and frequent criticisms of renewable energy suggest that the world can expect to see a U.S. government that is far less interested in addressing climate change.

    In addition to leaving the Paris deal, Trump is likely to peel back the climate change elements of former president Joe Biden’s Inflation Reduction Act (IRA) and disempower the Environmental Protection Agency (EPA). Trump’s nominee to head the EPA, Lee Zeldin, has promised to “pursue energy dominance.” Meanwhile, Chris Wright, Trump’s choice for energy secretary, is the CEO of Liberty Energy, a fracking company.

    While a majority of Americans recognize the dangers of climate change, how they prioritize action to address it tends to fall along partisan lines, with Republican voters seeing a trade-off with economic growth.

    Despite the challenges a second Trump administration is likely to bring, Canada can continue to address climate change by working with sub-national leadership in the U.S.

    Donald Trump signs an executive order withdrawing from the Paris climate agreement.

    U.S. states still making progress

    There are clear indications that Trump will move to dismantle key environmental policies. A dominant Trump adviser, Tesla CEO Elon Musk, has indicated his support for removing US$7,500 tax credits for the purchase of electric vehicles (EVs), apparently viewing it as a way to undermine Tesla competitors.

    But this move is opposed by other automakers that have invested billions into developing new supply chains.

    Furthermore, dismantling the IRA could undermine Trump’s broader economic agenda. Chinese companies have already leapfrogged their U.S. competitors when it comes to EVs. Biden’s tariffs on Chinese EVs and his promotion of battery supply chains are perfectly compatible with Trump’s own desire to bolster American manufacturing.

    However, despite the negative outlook on climate policy at the federal level, several U.S. states have made significant progress. Many American states already have significant and rapidly growing contributions from renewable energy, including Republican-led states such as Iowa and Texas, which generated respectively 60 and 20 per cent of its electricity from wind in 2024.

    In addition, 24 American states are projected to reduce net carbon emissions by 27 to 39 per cent by 2030, and 45 states and the District of Columbia have EV support policies. Meanwhile, California and 11 other states have EV mandates.

    Globally, solar and offshore wind costs have declined dramatically since 2010 by 89 per cent and 68 per cent, respectively. According to the 2024 levelized cost of energy estimates by financial advisory firm Lazard, onshore wind in the U.S. is fully competitive with natural gas. Utility-level solar is also within the cost range of natural gas.

    California’s decision to ban gas cars by 2035 has been supported by automakers, though the deadline remains hotly contested. California has offered the same EV tax credit if the federal one is eliminated.

    What Canada should do

    Canada must accelerate its own transition to a low-carbon economy by supporting renewable energy initiatives in engineering, construction, transportation and carbon sequestration.

    Renewable energy opportunities that align with U.S. interests exist, and can be pursued irrespective of Trump’s policies. For example, Canada has an opportunity, jointly with the U.S., to expand our mutual critical mineral industry.

    Electrification is set to proceed apace regardless of the political leanings of governments, and the transformation of transportation from fossil fuels to electricity and battery power will require vast amounts of lithium, a mineral Canada has in large quantities. It will also require large investments in cutting-edge battery technology, which is a key limitation to green electrification.

    Canada can play a crucial role in the U.S. critical strategic minerals program. Canada is a critical source of such minerals, and can play a significant role in developing North American EV and battery supply chains.

    Considering both the need for these minerals and how tightly integrated the auto industry is in North America, such integration of supply chains fits within Trump’s general goal of reducing reliance on China. Canada can leverage this role to try to ensure it captures key portions of the supply chain that will create good jobs, particularly as oil demand inevitably winds down.

    Canada could also be a key partner in expanding nuclear energy production. We understand the resistance many have to this suggestion, but it’s worth reconsidering given the intermittency of renewable energy such as wind and solar.




    Read more:
    With nuclear power on the rise, reducing conspiracies and increasing public education is key


    Canada is the second-largest producer of uranium in the world. It has experience developing safe nuclear reactors, and technological advances have improved reactive safety and performance in recent decades.

    As part of reconciliation efforts, Canada must engage Indigenous Peoples in renewable energy discussions and actions on their own lands. Canadian governments should partner with Indigenous communities to provide them opportunities to ensure that investments in green energy are made appropriately and the benefits are shared fairly.

    Lastly, Canada should assist low-income countries to develop appropriate technologies to advance their adoption of renewable energy — think something like a federal renewable energy outreach program.

    By taking these steps, Canada could make significant contributions to helping tackle climate change both in North America and around the world.

    Andy Hira is the Director of the Clean Energy Research Group based at Simon Fraser University. The group has received funding from the Willow Grove Foundation and SFU.

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

    – ref. How Canada and the U.S. can still tackle climate change in a second Trump era – https://theconversation.com/how-canada-and-the-u-s-can-still-tackle-climate-change-in-a-second-trump-era-246290

    MIL OSI – Global Reports –

    January 28, 2025
  • MIL-OSI Global: Mark Carney might have the edge as potential Liberal leader, but still faces major obstacles

    Source: The Conversation – Canada – By Sam Routley, PhD Candidate, Political Science, Western University

    In the weeks following Prime Minister Justin Trudeau’s resignation announcement, the race to name his successor seems to have become a two-person contest between former Deputy Prime Minister Chrystia Freeland and Mark Carney, the former governor of the Bank of Canada and the Bank of England.

    As is the usual practice in leadership bids, each has sought to advance competing visions tied to their personal credentials and desirability as candidates.

    Emphasizing her extensive cabinet experience, for example, Freeland’s pitch has so far focused on the claim that she is best equipped to handle the “existential threat” posed by the second Donald Trump administration in the United States.

    In contrast, Carney has framed himself as a pragmatic outsider. To his supporters, his monetary management of both Brexit and the 2008 financial crisis shows he can effectively address Canada’s economic challenges while remaining above the apparent politicking, ideological excesses and questionable policy decisions of the Trudeau years.

    The importance of the ground game

    It’s difficult to say for certain who is most likely to prevail. Most polls suggest many Liberals are still undecided, although Carney and Freeland are at the same level of support among Canadian voters at large.

    The incredibly short timeline for the race — voters need to be registered as Liberals by the end of today to vote for a leader — does not provide enough time for discernible trends to emerge. Despite the focus on the personality of the candidates, the Liberal leadership will be won or lost on the basis of “ground-game” organization — that is, who can identify, register and mobilize the greatest number of supporters.

    At this point, however, it’s safe to say that Carney has an advantage. Compared to Freeland, he has secured the endorsements of most senior cabinet ministers, including Francois-Philippe Champagne, Melanie Joly, Steven Guilbeault, Harjit Sajjan and Jonathan Wilkinson. This provides not only legitimacy but, far more importantly, greater organizational prowess.

    Also important is the fact that, in an environment of anti-Trudeau sentiment, he has much more — though not complete — distance from the incumbent government. It’s difficult to see how Freeland, regardless of her experience, can effectively avoid associations with the consequences of the past or existing policies that she herself was instrumental in bringing about.

    Of course, Carney has his own challenges. He will likely have to clarify his relationship with the departing Trudeau government. Since 2020, the precise nature of his role as an informal policy adviser to the prime minister — including as the chair of a task force on economic growth — remains a mystery.

    And for all of his emphasis on the importance of good policy, the substance of his actual, announced policy proposals are thin, including an ambiguous stance on the carbon tax.

    Impressive resumé

    Nonetheless, Carney simply has far more flexibility and potential than the more rigid limitations of Freeland’s candidacy. When compared to Freeland, Carney’s pitch to Canadians seems, at least on paper, to be a much smarter response to Pierre Poilievre’s Conservatives.

    His impressive resumé has the potential to be a strong, substantive contrast to the sloganeering that has so far been offered by the Conservatives. Carney could represent a reasonable alternative to voters who, while desiring change, aren’t sold on Poilievre.

    But can Carney really reverse the fortunes of the Liberal Party? Although the next leader of the party is guaranteed to be Canada’s 24th prime minister, they face near Herculean odds in establishing a term that will last more than a couple of weeks due the near certainty of a non-confidence vote in Parliament after it resumes on March 24, 15 days after the Liberal convention.

    Poilievre’s Conservatives are well over 20 points ahead in public opinion polls as they benefit from an anti-incumbent sentiment that, although commonly expressed in a personal dislike for Trudeau, is really about a deeper discontent with Canada’s structural and economic challenges.

    And, unless the NDP reverses its refusal to support the government, a federal election is likely to be held by May.

    While Carney’s outsider status may inspire the Liberal faithful, his electoral performance is more likely to highlight the drawbacks of political inexperience. Although he has potential in terms of political skills, he may not have the time to realize that potential.

    Past Liberal leaders

    Historically, and to a greater degree than the Conservatives, the Liberals have been successful at recruiting leaders with accomplishments outside of partisan electoral politics.

    William Lyon Mackenzie King made his name in labour relations, while Lester B. Pearson had an incredibly successful career as a diplomat.

    Pierre Trudeau, furthermore, was not a supporter of the Liberal Party until 1965, becoming leader only three years after entering politics. In this vein, Carney — until this stage in his career a largely non-political and accomplished central banker — is a return to form.

    The difference, however, is that — with the exception of academic Michael Ignatieff in 2011 — each of these former leaders had some, albeit limited, experience. They may have been recruited for their potential as future prime ministerial candidates, but each accumulated the requisite political experience.

    Mackenzie King had served as labour minister under Wilfrid Laurier, and Pearson had been external affairs minister for nearly a decade. Pierre Trudeau’s rise to national prominence owed a large part to his provocative legislative reforms as Pearson’s attorney general.

    Carney, on the other hand, has never run for office nor made any public interjections into partisan conflicts.

    Special skill set

    Electoral politics requires a special skill set that, unless it comes naturally, can only be learned through experience. It requires a unique combination of policy aptitude, communication ability, emotional intelligence, coalition-building and raw instinct.

    Those qualities are honed with frequent exposure to voters, whether through stump speeches, stakeholder meetings or community barbecues. Carney simply does not have these experiences.

    And faced with an anti-incumbent mood, his administrative experience may be casting him not as an interesting outsider, but as a technocratic voice of the very economic, political and cultural elite who Canadians are upset with.

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

    – ref. Mark Carney might have the edge as potential Liberal leader, but still faces major obstacles – https://theconversation.com/mark-carney-might-have-the-edge-as-potential-liberal-leader-but-still-faces-major-obstacles-247979

    MIL OSI – Global Reports –

    January 28, 2025
  • MIL-OSI: Intermediate Capital Group plc: Notification of Major Holdings

    Source: GlobeNewswire (MIL-OSI)

    TR-1: Standard form for notification of major holdings

    1. Issuer Details
    ISIN
    GB00BYT1DJ19 
    Issuer Name
    INTERMEDIATE CAPITAL GROUP PLC
    UK or Non-UK Issuer
    UK
    2. Reason for Notification
    An acquisition or disposal of voting rights
    3. Details of person subject to the notification obligation
    Name
    BlackRock, Inc.
    City of registered office (if applicable)
    Wilmington
    Country of registered office (if applicable)
    USA
    4. Details of the shareholder
    Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

    City of registered office (if applicable)

    Country of registered office (if applicable)

    5. Date on which the threshold was crossed or reached
    24-Jan-2025
    6. Date on which Issuer notified
    27-Jan-2025
    7. Total positions of person(s) subject to the notification obligation

    . % of voting rights attached to shares (total of 8.A) % of voting rights through financial instruments (total of 8.B 1 + 8.B 2) Total of both in % (8.A + 8.B) Total number of voting rights held in issuer
    Resulting situation on the date on which threshold was crossed or reached 5.100000 0.290000 5.390000 15731231
    Position of previous notification (if applicable) 4.730000 0.380000 5.110000  

    8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
    8A. Voting rights attached to shares

    Class/Type of shares ISIN code(if possible) Number of direct voting rights (DTR5.1) Number of indirect voting rights (DTR5.2.1) % of direct voting rights (DTR5.1) % of indirect voting rights (DTR5.2.1)
    GB00BYT1DJ19   14840260   5.100000
    Sub Total 8.A 14840260 5.100000%

    8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

    Type of financial instrument Expiration date Exercise/conversion period Number of voting rights that may be acquired if the instrument is exercised/converted % of voting rights
    Securities Lending     22727 0.000000
    Sub Total 8.B1   22727 0.000000%

    8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

    Type of financial instrument Expiration date Exercise/conversion period Physical or cash settlement Number of voting rights % of voting rights
    CFD     Cash 868244 0.290000
    Sub Total 8.B2   868244 0.290000%

    9. Information in relation to the person subject to the notification obligation
    2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)

    Ultimate controlling person Name of controlled undertaking % of voting rights if it equals or is higher than the notifiable threshold % of voting rights through financial instruments if it equals or is higher than the notifiable threshold Total of both if it equals or is higher than the notifiable threshold
    BlackRock, Inc. (Chain 1) BlackRock Finance, Inc.      
    BlackRock, Inc. (Chain 1) Trident Merger, LLC      
    BlackRock, Inc. (Chain 1) BlackRock Investment Management, LLC      
    BlackRock, Inc. (Chain 2) BlackRock Finance, Inc.      
    BlackRock, Inc. (Chain 2) BlackRock Holdco 2, Inc.      
    BlackRock, Inc. (Chain 2) BlackRock Financial Management, Inc.      
    BlackRock, Inc. (Chain 2) BlackRock International Holdings, Inc.      
    BlackRock, Inc. (Chain 2) BR Jersey International Holdings L.P.      
    BlackRock, Inc. (Chain 2) BlackRock Holdco 3, LLC      
    BlackRock, Inc. (Chain 2) BlackRock Cayman 1 LP      
    BlackRock, Inc. (Chain 2) BlackRock Cayman West Bay Finco Limited      
    BlackRock, Inc. (Chain 2) BlackRock Cayman West Bay IV Limited      
    BlackRock, Inc. (Chain 2) BlackRock Group Limited      
    BlackRock, Inc. (Chain 2) BlackRock Finance Europe Limited      
    BlackRock, Inc. (Chain 2) BlackRock Investment Management (UK) Limited      
    BlackRock, Inc. (Chain 3) BlackRock Finance, Inc.      
    BlackRock, Inc. (Chain 3) BlackRock Holdco 2, Inc.      
    BlackRock, Inc. (Chain 3) BlackRock Financial Management, Inc.      
    BlackRock, Inc. (Chain 3) BlackRock International Holdings, Inc.      
    BlackRock, Inc. (Chain 3) BR Jersey International Holdings L.P.      
    BlackRock, Inc. (Chain 3) BlackRock Australia Holdco Pty. Ltd.      
    BlackRock, Inc. (Chain 3) BlackRock Investment Management (Australia) Limited      
    BlackRock, Inc. (Chain 4) BlackRock Finance, Inc.      
    BlackRock, Inc. (Chain 4) BlackRock Holdco 2, Inc.      
    BlackRock, Inc. (Chain 4) BlackRock Financial Management, Inc.      
    BlackRock, Inc. (Chain 4) BlackRock Holdco 4, LLC      
    BlackRock, Inc. (Chain 4) BlackRock Holdco 6, LLC      
    BlackRock, Inc. (Chain 4) BlackRock Delaware Holdings Inc.      
    BlackRock, Inc. (Chain 4) BlackRock Institutional Trust Company, National Association      
    BlackRock, Inc. (Chain 5) BlackRock Finance, Inc.      
    BlackRock, Inc. (Chain 5) BlackRock Holdco 2, Inc.      
    BlackRock, Inc. (Chain 5) BlackRock Financial Management, Inc.      
    BlackRock, Inc. (Chain 5) BlackRock Holdco 4, LLC      
    BlackRock, Inc. (Chain 5) BlackRock Holdco 6, LLC      
    BlackRock, Inc. (Chain 5) BlackRock Delaware Holdings Inc.      
    BlackRock, Inc. (Chain 5) BlackRock Fund Advisors      
    BlackRock, Inc. (Chain 6) BlackRock Finance, Inc.      
    BlackRock, Inc. (Chain 6) BlackRock Holdco 2, Inc.      
    BlackRock, Inc. (Chain 6) BlackRock Financial Management, Inc.      
    BlackRock, Inc. (Chain 7) BlackRock Finance, Inc.      
    BlackRock, Inc. (Chain 7) BlackRock Holdco 2, Inc.      
    BlackRock, Inc. (Chain 7) BlackRock Financial Management, Inc.      
    BlackRock, Inc. (Chain 7) BlackRock International Holdings, Inc.      
    BlackRock, Inc. (Chain 7) BR Jersey International Holdings L.P.      
    BlackRock, Inc. (Chain 7) BlackRock (Singapore) Holdco Pte. Ltd.      
    BlackRock, Inc. (Chain 7) BlackRock HK Holdco Limited      
    BlackRock, Inc. (Chain 7) BlackRock Asset Management North Asia Limited      
    BlackRock, Inc. (Chain 8) BlackRock Finance, Inc.      
    BlackRock, Inc. (Chain 8) BlackRock Holdco 2, Inc.      
    BlackRock, Inc. (Chain 8) BlackRock Financial Management, Inc.      
    BlackRock, Inc. (Chain 8) BlackRock International Holdings, Inc.      
    BlackRock, Inc. (Chain 8) BR Jersey International Holdings L.P.      
    BlackRock, Inc. (Chain 8) BlackRock Holdco 3, LLC      
    BlackRock, Inc. (Chain 8) BlackRock Cayman 1 LP      
    BlackRock, Inc. (Chain 8) BlackRock Cayman West Bay Finco Limited      
    BlackRock, Inc. (Chain 8) BlackRock Cayman West Bay IV Limited      
    BlackRock, Inc. (Chain 8) BlackRock Group Limited      
    BlackRock, Inc. (Chain 8) BlackRock Finance Europe Limited      
    BlackRock, Inc. (Chain 8) BlackRock (Netherlands) B.V.      
    BlackRock, Inc. (Chain 8) BlackRock Asset Management Deutschland AG      
    BlackRock, Inc. (Chain 9) BlackRock Finance, Inc.      
    BlackRock, Inc. (Chain 9) BlackRock Holdco 2, Inc.      
    BlackRock, Inc. (Chain 9) BlackRock Financial Management, Inc.      
    BlackRock, Inc. (Chain 9) BlackRock International Holdings, Inc.      
    BlackRock, Inc. (Chain 9) BlackRock Canada Holdings ULC      
    BlackRock, Inc. (Chain 9) BlackRock Asset Management Canada Limited      
    BlackRock, Inc. (Chain 10) BlackRock Finance, Inc.      
    BlackRock, Inc. (Chain 10) BlackRock Holdco 2, Inc.      
    BlackRock, Inc. (Chain 10) BlackRock Financial Management, Inc.      
    BlackRock, Inc. (Chain 10) BlackRock International Holdings, Inc.      
    BlackRock, Inc. (Chain 10) BR Jersey International Holdings L.P.      
    BlackRock, Inc. (Chain 10) BlackRock Holdco 3, LLC      
    BlackRock, Inc. (Chain 10) BlackRock Cayman 1 LP      
    BlackRock, Inc. (Chain 10) BlackRock Cayman West Bay Finco Limited      
    BlackRock, Inc. (Chain 10) BlackRock Cayman West Bay IV Limited      
    BlackRock, Inc. (Chain 10) BlackRock Group Limited      
    BlackRock, Inc. (Chain 10) BlackRock Finance Europe Limited      
    BlackRock, Inc. (Chain 10) BlackRock Advisors (UK) Limited      

    10. In case of proxy voting
    Name of the proxy holder

    The number and % of voting rights held

    The date until which the voting rights will be held

    11. Additional Information
    BlackRock Regulatory Threshold Reporting Team

    Jana Blumenstein

    020 7743 3650
    12. Date of Completion
    27th January 2025
    13. Place Of Completion
    12 Throgmorton Avenue, London, EC2N 2DL, U.K.

    The MIL Network –

    January 28, 2025
  • MIL-OSI: EBC Financial Group Partners with Shakti Regeneration Institute to Empower Marginalised Communities and Promote Indigenous Conservation Efforts

    Source: GlobeNewswire (MIL-OSI)

    RANAGHAT, India, Jan. 27, 2025 (GLOBE NEWSWIRE) — EBC Financial Group (EBC), a leading global financial brokerage, proudly announces its latest Corporate Social Responsibility (CSR) initiative through a strategic partnership with the Shakti Empowerment Education Foundation, part of the Shakti Regeneration Institute (SRI). This collaboration will support the Ramakrishna Vedanta Vidyapith school in West Bengal, India, providing 50 low-income students with access to essential educational materials, uniforms, vocational sewing classes, and extracurricular activities.

    Image copyright: Shakti Regeneration Institute

    This partnership forms part of EBC’s broader CSR strategy, which complements its role as a global financial brokerage, enabling access to global markets while promoting equitable education and sustainable development in communities where economic opportunities are limited.

    EBC Financial Group has supported the University of Oxford’s What Economists Really Do (WERD) public education series through the sponsorship of two episodes: The Economics of Tax Evasion in 2023 and Macroeconomics and Climate in November 2024. These episodes explore how economics can address significant societal issues and reflect EBC’s broader mission of empowering informed decision-making—a principle that also drives its global brokerage services, enabling individuals and institutions to confidently navigate financial markets. The WERD series is independently produced by the Department of Economics, showcasing its dedication to bridging academic research and real-world challenges.

    Together, these initiatives demonstrate EBC’s dedication to advancing educational access, promoting critical discourse, and addressing the interconnected challenges of socio-economic development and sustainability. Shifting focus to India, EBC’s partnership with SRI reinforces its mission to drive long-term societal change at the local level, equipping individuals with the tools to thrive and contribute to the development of their communities while promoting sustainable development at the grassroots level.

    In addition to this critical sponsorship, EBC’s leadership in global advocacy is reflected in its contributions to the upcoming documentary #TheRegenerationGeneration, an initiative of SRI directed by its founder, Indrani Pal-Chaudhuri. The film, which addresses the urgent need for regenerative finance and education, highlights the efforts of Nobel Prize-winners, innovators, business leaders, educators, and Indigenous leaders working together to protect vulnerable ecosystems and communities from the increasing threats of climate change. It also features interviews with David Barrett, CEO of EBC Financial Group (UK) Ltd., and Professor Teytelboym from the Department of Economics, Oxford University. EBC’s involvement across both social projects underscores its commitment to not only supporting local communities but also driving global awareness and action toward sustainable and equitable futures.

    Barrett expressed the strategic importance of this partnership: “At EBC, we recognise that the true power of education creates the foundation for transforming societies and creating pathways to lasting change. Our partnership with Shakti Regeneration Institute is more than a sponsorship—it reflects our dedication to uplifting the next generation, as we support the Ramakrishna Vedanta Vidyapith school in equipping marginalised children with the tools they need to thrive. Through our involvement in the #TheRegenerationGeneration 2025 documentary, we are amplifying the voices of Indigenous communities and supporting the preservation of their cultural and environmental heritage. Similarly, our collaboration with the University of Oxford’s Department of Economics on their WERD program underscores our dedication to enhancing global understanding of critical economic and societal issues. By investing in education at every level, we aim to create opportunities, promote equity, and address the challenges of our time. These efforts align seamlessly with our core values of integrity, responsibility, and sustainability.”

    Ajay Pal-Chaudhuri, Chairman and Founder of Shakti Regeneration Institute, remarked, “We are thrilled to announce our partnership with EBC Financial Group, a collaboration that embodies the convergence of corporate responsibility and global impact. Together, we embark on a transformative journey, combining our strengths in education and ecological advocacy to empower communities worldwide. With EBC’s support, we are not only empowering marginalised children through education but also raising global awareness about the critical challenges facing Indigenous communities and the plight of vulnerable ecosystems.”

    Foundational Values at the Heart of EBC’s Mission
    EBC’s commitment to making a meaningful difference aligns with its core values of dedication, responsibility, and integrity. By ensuring that financial resources are directed toward impactful projects, EBC exemplifies how corporate responsibility can foster real-world change, contributing to the welfare of communities and the preservation of ecosystems that sustain vulnerable populations. Operating under top-tier regulation, EBC combines its mission to equip investors with access to global markets such as currencies, indices, and commodities with impactful social investments that contribute to community welfare and sustainability.

    The Ramakrishna Vedanta Vidyapith school, which will celebrate the 25th anniversary of its founding in January 2025, has been a vital institution in the betterment of local communities in West Bengal. Through its educational programs, the school empowers children and women from marginalised backgrounds, helping them to break the cycle of poverty and contribute positively to their communities. EBC’s support enhances the school’s mission, helping to ensure that these children receive not only basic education but also vocational training and community-building opportunities that will prepare them for long-term success. More information about SRI and its mission can be found at www.shaktiregeneration.org.

    For more information about EBC’s causes and initiatives, please visit https://www.ebc.com/ESG.

    About EBC Financial Group
    Founded in the esteemed financial district of London, EBC Financial Group (EBC) is renowned for its services in financial brokerage and asset management. With offices strategically located in prominent financial centres such as London, Sydney, Hong Kong, Tokyo, Singapore, the Cayman Islands, Bangkok, Limassol, and more, EBC enables retail, professional, and institutional investors to access a wide range of global markets and trading opportunities, including currencies, commodities, shares, and indices.

    Recognised by multiple awards, EBC prides itself on adhering to leading levels of ethical standards and international regulation. EBC Financial Group’s subsidiaries are regulated and licensed in their local jurisdictions. EBC Financial Group (UK) Limited is regulated by the UK’s Financial Conduct Authority (FCA), EBC Financial Group (Cayman) Limited is regulated by the Cayman Islands Monetary Authority (CIMA), EBC Financial Group (Australia) Pty Ltd, and EBC Asset Management Pty Ltd are regulated by Australia’s Securities and Investments Commission (ASIC).

    At the core of EBC Group are seasoned professionals with over 30 years of profound experience in major financial institutions, having adeptly navigated through significant economic cycles from the Plaza Accord to the 2015 Swiss franc crisis. EBC champions a culture where integrity, respect, and client asset security are paramount, ensuring that every investor engagement is treated with the utmost seriousness it deserves.

    EBC is the Official Foreign Exchange Partner of FC Barcelona, offering specialised services in regions such as Asia, LATAM, the Middle East, Africa, and Oceania. EBC is also a partner of United to Beat Malaria, a campaign of the United Nations Foundation, aiming to improve global health outcomes. Starting February 2024, EBC supports the ‘What Economists Really Do’ public engagement series by Oxford University’s Department of Economics, demystifying economics, and its application to major societal challenges to enhance public understanding and dialogue.

    https://www.ebc.com/

    Media Contact:
    Savitha Ravindran
    Global Public Relations Manager (EMEA, LATAM)
    savitha.ravindran@ebc.com

    Chyna Elvina
    Global Public Relations Manager (APAC, LATAM)
    chyna.elvina@ebc.com

    Douglas Chew
    Global Public Relations Lead
    douglas.chew@ebc.com

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/94dc67e3-5efc-46bb-9e48-0cb8ff3bce80

    https://www.globenewswire.com/NewsRoom/AttachmentNg/7947de34-6137-46a2-b7e8-8183ecc273c4

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a45a3118-2bc7-4f3b-af6b-c721195b1fef

    The MIL Network –

    January 28, 2025
  • MIL-OSI: MamaBull Token to Reimagine Crypto with the Game-Changing Mamapay.io Platform

    Source: GlobeNewswire (MIL-OSI)

    MamaBull Token, built on Solana, is set to revolutionize crypto for developing countries with the upcoming Mamapay.io platform, which blends blockchain with real-world finance and offers generous rewards.

    SINGAPORE, Jan. 27, 2025 (GLOBE NEWSWIRE) — MamaBull Token ($MAMA), a highly anticipated cryptocurrency built on the Solana blockchain, will officially launch on January 27, 2025. Designed to symbolize strength and innovation in the crypto space, MamaBull offers a unique combination of speed, affordability, and real-world utility. The project’s dedicated website, mamabulltoken.com, is live and provides insights into the token’s features and upcoming developments.

    A key component of MamaBull’s ecosystem is Mamapay.io, an upcoming financial platform scheduled for April 2025. The platform aims to transform the way users manage and transfer assets globally. By integrating blockchain with traditional banking services, Mamapay.io delivers a seamless experience for handling crypto and fiat assets. With features such as offshore bank accounts, debit cards, and compliance-focused financial solutions, the platform ensures security and regulatory adherence for a user-friendly experience.

    Why MamaBull Token?

    MamaBull sets itself apart in the crypto market by utilizing Solana’s high-speed infrastructure, guaranteeing ultra-fast transactions and low fees. Dedicated to financial inclusion, MamaBull aims to offer accessible financial services to underserved regions, connecting decentralized finance (DeFi) with traditional banking systems.

    More than just a meme-inspired digital asset, MamaBull — dubbed “The Mother of All Streets” — delivers practical applications and long-term utility for holders while offering significant profit potential. As a memecoin with real utility, MamaBull presents an exciting opportunity for users to earn substantial returns by participating in its ecosystem.

    Through its staking and rewards system, MamaBull allows holders to generate passive income over time. Users who stake their $MAMA tokens on mamapay.io can expect generous returns, which will encourage long-term participation and foster ecosystem stability. The token’s design prioritizes community incentives, ensuring that loyal holders are well-rewarded for their commitment.

    Future cross-chain integrations with Ethereum and BNB Chain will further expand MamaBull’s reach. These integrations will ensure smooth connectivity across multiple blockchain networks and enhance users’ access to the DeFi ecosystem.

    Within the Mamapay.io ecosystem, $MAMA holders can access exclusive benefits, including cashback rewards, reduced transaction fees, and revenue-sharing opportunities. These benefits significantly increase the potential profits available to participants.

    Mamapay.io: A Game-Changer in Global Finance

    As a pivotal part of the MamaBull ecosystem, Mamapay.io is set to redefine global financial operations by merging blockchain technology with traditional finance. The platform will enable crypto-to-fiat conversions, simplifying cross-border transactions for users.

    By offering offshore banking solutions, Mamapay.io provides enhanced security and financial flexibility. Additionally, $MAMA-powered debit cards will allow seamless spending worldwide, integrating crypto into daily financial activities easily.

    Compliance remains a top priority for Mamapay.io. The platform fully complies with AML and KYC regulations to create a secure and trusted financial environment for all users.

    Security and Transparency

    Security and transparency are fundamental to MamaBull’s development, ensuring confidence among investors and users. The project’s smart contracts have been fully audited, and ownership has been renounced. Most importantly, minting operations have been permanently turned off to prevent potential manipulation.

    A burned liquidity pool has been implemented to support price stability and reinforce long-term sustainability within the ecosystem.

    A Roadmap for Sustained Growth

    MamaBull’s roadmap outlines a strategic path toward long-term growth and adoption. The initial phase focuses on launching the token and building a strong community through targeted marketing campaigns.

    Subsequent phases will introduce strategic partnerships with influencers and secure listings on major exchanges, increasing visibility and market reach. The rollout of governance features and staking mechanisms will empower the community to actively shape the project’s future.

    Future developments will emphasize the integration of Mamapay.io’s banking solutions, further positioning MamaBull as a key player in merging traditional and digital financial systems. Long-term initiatives include regular token burns and continuous feature enhancements to drive sustained value for holders.

    Join the MamaBull Revolution

    MamaBull is more than just a crypto; it represents a movement toward financial inclusion, empowerment, and innovation. Combining speed, affordability, and groundbreaking financial solutions, MamaBull is set to make a lasting impact in the evolving crypto-fintech landscape. With its potential for high profits and real-world utility, MamaBull offers an exciting opportunity for those looking to capitalize on the growing crypto space.

    For the latest updates and developments, visit mamabulltoken.com and follow social media accounts:

    Telegram: t.me/mamabulltoken
    Twitter/X: x.com/mamabull_token
    Instagram: instagram.com/mamabulltoken

    Media inquiries: media@mamabulltoken.com

    Contact:
    James Lissaint
    media@mamabulltoken.com

    Disclaimer: This content is provided by MamaBull. The statements, views and opinions expressed in this column are solely those of the content provider. 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. 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/72f4eb97-978f-470c-8f8b-c0eaa3ee8c59

    The MIL Network –

    January 28, 2025
  • MIL-OSI Security: Federal Law Enforcement Seizes $4 Million in Property and Proceeds from Texas Woman for Smuggling and Distributing Unapproved Animal Drugs

    Source: Office of United States Attorneys

    MEDFORD, Ore.– Nicole Randall, 37, of Cedar Park, Texas pleaded guilty and was sentenced today to one year of probation for introducing an adulterated drug into interstate commerce.

    According to court documents, between February 2020 and May 2022, Randall used fake names to smuggle GS-441524, a drug that had not been approved by the Food and Drug Administration (FDA) for human or animal consumption, into the United States disguised as facial masks, pet shampoo, beauty products, and cosmetics.

    Despite having no veterinary or prescriber licenses, Randall and others used the Facebook group “FIP Warriors 5.0” to defraud and mislead customers by diagnosing their cats and kittens with feline infectious peritonitis (FIP), a viral disease affecting cats, and prescribing GS-441524 for the animals’ consumption.

    In August 2021, an agent joined FIP Warriors 5.0 and submitted photographs of a cat. The healthy cat, recently examined by a licensed veterinarian, was misdiagnosed with FIP and prescribed GS-441524. Randall then instructed payment for the unapproved drugs using Paypal, Zelle, or CashApp without mentioning cat medicine, vials, pills, or brand names in the payment note.

    In July 2022, agents executed a federal search warrant at Randall’s residence in Cedar Park, Texas and seized approximately 30 boxes of glass vials containing the adulterated drug. Investigators discovered that between July 2020 and June 2022, Randall distributed 58,460 liquid vials and 236,836 pills of GS-441524.

    On June 4, 2024, Randall was charged by criminal information with introducing an adulterated drug into interstate commerce.

    Randall’s scheme was highly profitable. As part of the plea agreement, Randall agreed to forfeit four real properties, ten financial accounts, and a Tesla, worth roughly $4 million combined and traceable to her proceeds from smuggling and distributing the unapproved drugs.

    This case was investigated by the FDA. It was prosecuted by John C. Brassell and Katherine C. de Villiers, Assistant U.S. Attorneys for the District of Oregon.

    MIL Security OSI –

    January 28, 2025
  • MIL-OSI: Turtle Beach Corporation Appoints Mark Weinswig Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    WHITE PLAINS, N.Y., Jan. 27, 2025 (GLOBE NEWSWIRE) — Turtle Beach Corporation (Nasdaq: TBCH), a leading gaming accessories provider, today announced the appointment of Mark Weinswig as Chief Financial Officer effective February 3, 2025.

    Mr. Weinswig brings over 25 years of extensive financial leadership experience to Turtle Beach. Most recently, he served as CFO at Ouster following its merger with Velodyne Lidar, where he successfully led the development and implementation of integration strategies, resulting in significant cost savings and operational efficiencies. He’s previously held CFO positions at other companies, including Avinger, EMCORE and Avanex, where he consistently delivered improved financial performance and strategic growth.

    “We’re excited to welcome Mark to the Turtle Beach team. His wealth of experience in financial leadership across multiple publicly traded companies makes him an ideal fit for our organization,” said Cris Keirn, CEO, Turtle Beach Corporation. “Mark’s proven track record of driving financial performance and strategic initiatives will be invaluable as we continue executing our growth strategy and enhancing shareholder value. We look forward to his contributions and leadership.”

    Mr. Weinswig holds an MBA from Santa Clara University and a BS in Accounting from Indiana University. He has held both Certified Public Accountant and Chartered Financial Analyst designations.

    “I’m thrilled to join Turtle Beach as the new Chief Financial Officer. Together, we will continue delivering cutting-edge products, while also maximizing value for our shareholders. I look forward to contributing to Turtle Beach’s exciting future, and building on its legacy of excellence,” said Mr. Weinswig.

    Mr. Weinswig succeeds John Hanson, who will move into to a senior advisor role for the next six months to ensure a smooth and effective transition.

    “We are deeply grateful to John for his significant contributions to Turtle Beach during his tenure,” added Cris Keirn. “His leadership and dedication over the years has been instrumental in our success, and we’re pleased that he will continue providing his expertise as a senior advisor during this transition period. We wish him all the best in his retirement.”

    About Turtle Beach Corporation
    Turtle Beach Corporation (the “Company”) (www.turtlebeachcorp.com) is one of the world’s leading gaming accessories providers. The Company’s namesake Turtle Beach brand (www.turtlebeach.com) is known for designing best-selling gaming headsets, top-rated game controllers, award-winning PC gaming peripherals, and groundbreaking gaming simulation accessories. Innovation, first-to-market features, a broad range of products for all types of gamers, and top-rated customer support have made Turtle Beach a fan-favorite brand and the market leader in console gaming audio for over a decade. Turtle Beach Corporation acquired Performance Designed Products (www.pdp.com) in 2024. Turtle Beach’s shares are traded on the Nasdaq Exchange under the symbol: TBCH.

    Cautionary Note on Forward-Looking Statements
    This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions, or beliefs about future events. Statements containing the words “may”, “could”, “would”, “should”, “believe”, “expect”, “anticipate”, “plan”, “estimate”, “target”, “goal”, “project”, “intend” and similar expressions, or the negatives thereof, constitute forward-looking statements. Forward-looking statements are only predictions and are not guarantees of performance. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. The inclusion of such information should not be regarded as a representation by the Company, or any person, that the objectives of the Company will be achieved. Forward-looking statements are based on management’s current beliefs and expectations, as well as assumptions made by, and information currently available to, management.

    While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, risks related to logistic and supply chain challenges and costs, the substantial uncertainties inherent in the acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, risks associated with the expansion of our business including the integration of any businesses we acquire and the integration of such businesses within our internal control over financial reporting and operations, our indebtedness, liquidity, and other factors discussed in our public filings, including the risk factors included in the Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and the Company’s other periodic reports filed with the Securities and Exchange Commission. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.

    CONTACTS

    Investors:
    tbch@icrinc.com
    (646) 277-1285

    Public Relations & Media:
    MacLean Marshall
    Sr. Director, Global Communications
    Turtle Beach Corporation
    (858) 914-5093
    maclean.marshall@turtlebeach.com

    The MIL Network –

    January 28, 2025
  • MIL-OSI United Kingdom: UK applies fresh sanctions following sham election in Belarus

    Source: United Kingdom – Executive Government & Departments

    The UK has sanctioned 9 individuals and defence sector entities in Belarus in coordination with Canada.

    • UK sanctions 6 individuals and 3 entities in coordinated action with alongside Canada, in an immediate response to rigged presidential election in Belarus.
    • Sanctions target leaders of institutions responsible for serious human rights violations and companies in the Belarusian defence sector supporting Russia’s war in Ukraine.
    • Action demonstrates Government’s commitment to working internationally to deter threats and protect national security, a foundation in the government’s Plan for Change.

    The Chairman of the Belarusian Central Election Commission is among 9 individuals and entities designated by the UK today (Monday 27 January) in a fresh wave of sanctions in response to yesterday’s sham election in Belarus.

    Following Lukashenko’s brutal crackdown in which critical voices within Belarus have been silenced, yesterday’s sham election failed to meet international standards and has been condemned by international partners .

    Alongside sanctioning leaders of institutions responsible for serious human rights violations in the country, the UK has excluded Belarusian defence companies from the UK economy– a sector of strategic importance to Lukashenko’s regime which is helping to facilitate Russia’s war in Ukraine.

    Working with international partners to protect UK national security is essential to deliver the foundations of the Prime Minister’s Plan for Change.

    Foreign Secretary David Lammy said:

    The world has become well-accustomed to Lukashenko’s cynical pretence of democracy in Belarus, while in reality he brutally represses civil society and opposition voices to strengthen his grip on power.

    The UK, alongside our partners, will continue to stand by the people of Belarus and expose those who deny them their legitimate right to freedom and democracy.

    According to the Viasna Human Rights Centre, a Belarusian non-governmental organisation in exile, over 1250 political prisoners are incarcerated in Belarus, including civil society representatives, human rights defenders, journalists, political opponents, religious leaders,  and trade unionists. Many political prisoners are held in shocking conditions, facing isolation, mistreatment and a lack of medical care.

    Today’s designations include Heads of ‘GUBOPiK’; one of the main security forces responsible for political persecution in Belarus. Individuals sanctioned today are:

    1. Igor Vasilyevich KARPENKO – Chairman of the Belarusian Central Election Commission.
    2. Viktor Alexandrovich DUBROVKA – Head of the Belarusian correctional institution Penal Colony No11, Vaukavysk
    3. Pavel Ivanovich KAZAKOV – Head of the Belarusian correctional institution Prison No 1, Hrodno.
    4. Andrey Mikhailovich TSEDRIK – Commanding Officer of Pre-trial Detention Centre (SIZO) No 1, Minsk.
    5. Andrei Valerievich ANANENKO – Head of GUBOPiK.
    6. Mikhail Petrovitch BEDUNKEVICH – Deputy Head of GUBOPiK.

    Belarus has provided support for Russia’s illegal invasion of Ukraine, allowing the use of its territory and airspace to launch attacks and provided kit and logistical support.

    The three entities from Belarus’ defence sector sanctioned today are:

    1. ALEVKURP OJSC – a company affiliated to the Government of Belarus specialising in research and development and manufacturing of radar systems and weapon control systems.
    2. Legmash Plant JSC – a Belarusian company producing ammunition for the Belarusian defence sector.
    3. KB Unmanned Helicopters (UAVHeli) – a Belarusian unmanned aerial vehicle (UAV) developer and manufacturer.

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

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    Updates to this page

    Published 27 January 2025

    MIL OSI United Kingdom –

    January 28, 2025
  • MIL-OSI: Bybit Introduces Blockchain-Powered Payment Solution in Brazil with PIX Compatibility

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Jan. 27, 2025 (GLOBE NEWSWIRE) —

    Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has launched Bybit Pay in Brazil, introducing a cutting-edge payment solution that integrates seamlessly with PIX, the country’s leading instant payment system. The launch underscores Bybit’s commitment to bridging Web2 and Web3 payments and providing a streamlined way for users to transact in both fiat and cryptocurrency. Wherever there is PIX, Bybit Pay can be used.

    Bybit Pay: Redefining Digital Transactions
    Bybit Pay allows users to connect their crypto wallets to a variety of financial possibilities, supporting both fiat and cryptocurrency. The platform simplifies transactions across websites, mobile applications, and point-of-sale (POS) systems, offering an intuitive interface for deposits, withdrawals, and payments. Its launch in Brazil aligns with the country’s growing adoption of digital finance technologies.

    Joan Han, Sales and Marketing Director at Bybit, highlighted the significance of the launch: “Bybit Pay is designed to bridge traditional and digital payments effortlessly. Brazil’s forward-thinking adoption of digital finance makes it the ideal market for this launch. By leveraging PIX QR codes and multi-currency support, Bybit Pay offers a seamless, secure, and flexible solution tailored to the evolving needs of our users.”

    Currently, Bybit Pay is available to verified users in Brazil through the Bybit app and website. The platform supports payments in Brazilian reais (BRL) and leading cryptocurrencies, including USDT, USDC, BTC, and ETH.

    Key Features and Benefits of Bybit Pay

    • PIX QR Code Compatibility

    Bybit Pay integrates with PIX, allowing users to scan QR codes to complete payments in fiat or cryptocurrency. This functionality offers a convenient and familiar experience for Brazilian users.

    • Integrated Wallet Management

    The platform combines crypto and fiat wallet functionality, enabling users to manage funds seamlessly across both financial systems.

    • Multi-Currency Support

    Bybit Pay supports a range of currencies, including BRL and popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

    • Blockchain-Backed Security

    Bybit Pay ensures secure, tamper-proof transactions through blockchain encryption, maintaining user privacy and transparency.

    • Benefits for Merchants

    Merchants gain the ability to accept payments from Bybit’s global user base of over 60 million, broadening their customer reach and providing an integrated fiat-crypto payment experience.

    Welcome Promotion: Cashback Opportunity for Brazilian Users
    To celebrate the launch, Bybit is offering a promotional campaign that rewards early adopters.

    • Event Period: January 27 – February 28, 2025
    • Eligibility: Users who deposit an equivalent of $100 or more and complete a payment by scanning a PIX QR code.

    Each week, 100 participants will be randomly selected to receive 100 percent cashback in USDT, capped at the BRL equivalent of 100 USDT per user.

    Winner Quotas (Weekly):

    • Payments of $5 – $10: 50 winners
    • Payments of $11 – $50: 30 winners
    • Payments of $51 – $100: 20 winners

    Transforming Digital Payments in Brazil
    Bybit Pay’s integration with PIX, alongside its multi-currency support and blockchain-powered security, positions the platform as a transformative solution in Brazil’s digital payment landscape. The launch represents a significant step forward in Bybit’s mission to enhance global payment systems and provide secure, flexible solutions for users and merchants.

    #Bybit / #BybitPay /#TheCryptoArk

    About Bybit
    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

    For more details about Bybit, please visit Bybit Press 
    For media inquiries, please contact: media@bybit.com
    For updates, please follow: Bybit’s Communities and Social Media

    Contact

    Head of PR
    Tony Au
    Bybit
    tony.au@bybit.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8d2640d1-8542-442b-93a8-058da17e062d

    The MIL Network –

    January 28, 2025
  • MIL-OSI: BexBack Unveils Double Deposit Bonus, $50 Welcome Bonus, and 100x Leverage Crypto Trading with No KYC

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Jan. 27, 2025 (GLOBE NEWSWIRE) — As Bitcoin hovers around the $100,000 mark, analysts predict prolonged market volatility, making cryptocurrency derivatives trading the preferred choice for traders seeking to profit from both upward and downward trends. To empower traders and maximize their potential, BexBack Exchange has introduced an exclusive package featuring a 100% deposit bonus, a $50 welcome bonus for new users, and 100x leverage for cryptocurrency trading—all with a No KYC policy, ensuring privacy and seamless trading.

    How Does 100x Leverage Work?

    100x leverage enables traders to control larger positions with minimal capital investment. For example:

    • Suppose Bitcoin is priced at $100,000, and you open a long contract with 1 BTC. Using 100x leverage, you control a position worth 100 BTC.
    • If the price rises to $105,000, your profit will be:
      (105,000−100,000)×100BTC÷100,000=5BTC That’s a 500% return on your initial investment.

    With BexBack’s 100% deposit bonus, your trading power doubles, giving you the ability to amplify profits even further.

    How the 100% Deposit Bonus Works

    BexBack’s deposit bonus is designed to boost your trading potential. While it cannot be withdrawn directly, the bonus:

    1. Increases Margin Capacity – Use the bonus to open larger positions and enhance your profit potential.
    2. Provides Risk Protection – During significant market fluctuations, the bonus serves as extra margin, reducing liquidation risks.

    For example, depositing 1 BTC unlocks an additional 1 BTC in bonus funds, doubling your margin.

    Why Choose BexBack?

    • No KYC Required: Trade with just an email address—simple and private.
    • 100% Deposit Bonus: Double your trading funds instantly.
    • $50 Welcome Bonus: Earn $50 after completing your first trade.
    • High Leverage: Up to 100x leverage to maximize capital efficiency.
    • Demo Account: Practice risk-free with 10 BTC in virtual funds.
    • Transparent Fees: No slippage, no spreads, and clear fee structures.
    • 24/7 Global Support: Dedicated multilingual customer service anytime, anywhere.
    • Affiliate Rewards: Earn up to 50% commission with no limits on duration or earnings.

    About BexBack

    BexBack is a premier cryptocurrency derivatives platform offering 100x leverage on BTC, ETH, ADA, SOL, and XRP futures contracts. Headquartered in Singapore with offices in Hong Kong, Japan, the United States, the United Kingdom, and Argentina, BexBack operates under a US MSB (Money Services Business) license. The platform is trusted by over 200,000 traders worldwide, including users in the US, Canada, and Europe.

    Don’t Miss Out—Start Trading Today!

    If you’re looking to capitalize on Bitcoin’s historic price levels and market volatility, BexBack is the platform for you. With 100x leverage, unbeatable bonuses, and a focus on privacy, BexBack sets you up for success in the dynamic world of cryptocurrency trading.

    Sign up now to claim your exclusive bonuses and start building your crypto portfolio.

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack. The statements, views and opinions expressed in this column are solely those of the content provider. 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. Please conduct your own research and invest at your own risk.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/ed72ce34-c448-429b-baf5-afdbccee1640

    https://www.globenewswire.com/NewsRoom/AttachmentNg/b63bbbd5-050a-4972-9308-fa38c4b98ca8

    https://www.globenewswire.com/NewsRoom/AttachmentNg/8fe9b4af-bef7-450b-8933-9d7096274920

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a1ccb133-7ea0-4960-a4b2-f127cce10ea8

    https://www.globenewswire.com/NewsRoom/AttachmentNg/9778b6a3-46d2-49b8-a574-adb73a41cd4f

    The MIL Network –

    January 28, 2025
  • MIL-OSI Global: Elon Musk now has an office in the White House. What’s his political game plan?

    Source: The Conversation – Global Perspectives – By Henry Maher, Lecturer in Politics, Department of Government and International Relations, University of Sydney

    Shutterstock/The Conversation

    Elon Musk has emerged as one of the most influential and controversial powerbrokers in the new Trump administration. He spent at least US$277 million (about A$360 million) of his own money to help Donald Trump win re-election, campaigning alongside him around the country.

    This significant investment of time and money raises the question of what the world’s wealthiest person hopes to receive in return. Critics have wondered whether Musk’s support for Trump is just a straightforward commercial transaction, with Musk expecting to receive political favours.

    Or does it reflect Musk’s own genuinely held political views, and perhaps personal political ambition?

    From left to alt-right

    Decoding Musk’s political views and tracking how they have changed over time is a complex exercise. He’s hard to pin down, largely by design.

    Musk’s current X feed, for example, is a bewildering mix of far-right conspiracy theories about immigration, clips of neoliberal economist Milton Friedman warning about the dangers of inflation, and advertisements for Tesla.

    Historically, Musk professes to have been a left libertarian. He says he voted for Barack Obama in 2008 and 2012, Hillary Clinton in 2016 and Joe Biden in 2020.

    Musk claims that over time, the Democratic party has moved further to the left, leaving him feeling closer politically to the Republican party.

    Key to Musk’s political shift, at least by his own account, is his estrangement from his transgender daughter, Vivian Jenna Wilson.

    After Vivian’s transition, Musk claimed she was “dead, killed by the woke mind virus”. She is very much alive.

    He’s since repeatedly signalled his opposition to transgender rights and gender-affirming care, and diversity, equity and inclusion policies more broadly.

    However, if the mere existence of a trans person in his family was enough to cause a political meltdown, Musk was clearly already on a trajectory towards far-right politics.

    Rather than responding to a shift in the Democratic Party, it makes more sense to understand Musk’s changing politics as part of a much broader recent phenomenon known as as “the libertarian to alt-right pipeline”.

    The political science, explained

    Libertarianism has historically tended to be divided between left-wing and right-wing forms.

    Left libertarians support economic policies of limited government, such as cutting taxes and social spending, and deregulation more broadly. This is combined with progressive social policies, such as marriage equality and drug decriminalisation.

    By contrast, right libertarians support the same set of economic policies, but hold conservative social views, such as opposing abortion rights and celebrating patriotism.

    Historically, the Libertarian Party in the United States adopted an awkward middle ground between the two poles.

    The past decade, though, has seen the Libertarian Party, and libertarianism more generally, move strongly to the right. In particular, many libertarians have played leading roles in the alt-right movement.

    The alt-right or “alternative right” refers to the recent resurgence of far-right political movements opposing multiculturalism, gender equality and diversity, and supporting white nationalism.

    The alt-right is a very online movement, with its leading activists renowned for internet trolling and “edgelording” – that is, the posting of controversial and confronting content to deliberately stoke controversy and attract attention.

    Though some libertarians have resisted the pull of the alt-right, many have been swept along the pipeline, including prominent leaders in the movement.

    Making sense of Musk

    While this discussion of theory may seem abstract, it helps to understand what Musk’s values are (beneath the chaotic tweets and Nazi salutes).

    In economic terms, Musk remains a limited-government libertarian. He advocates cutting government spending, reducing taxes and repealing regulation – especially regulations that put limits on his businesses.

    His formal role in the Trump administration as head of the “Department of Government Efficiency”, also known as DOGE, is targeted at these goals.

    Musk has suggested that in cutting government spending, he will particularly target diversity, equity and inclusion (DEI) initiatives. This is the alt-right influence on display.

    Alt-right sensibilities are most evident, however, in Musk’s online persona.

    On X, Musk has deliberately stoked controversy by boosting and engaging with white nationalists and racist conspiracy theories.

    For example, he has favourably engaged with far-right politicians advocating for the antisemitic “Great Replacement theory”. This theory claims Jews are encouraging mass migration to the global north as part of a deliberate plot to eliminate the white race.

    More recently, Musk has endorsed the far-right in Germany. He’s also shared videos from known white supremacists outlining the racist “Muslim grooming gangs” conspiracy theory in the United Kingdom.

    Whether Musk actually believes these outlandish racist conspiracy theories is, in many ways, irrelevant.

    Rather, Musk’s public statements are better understood as reflecting philosopher Harry Frankfurt’s famous definition of “bullshit”. For Frankfurt, “bullshit” refers to statements made to impress or provoke in which the speaker is simply not concerned with whether the statement is actually true.

    Much of Musk’s online persona is part of a deliberate alt-right populist strategy to stoke controversy, upset “the left”, and then claim to be a persecuted victim when criticised.

    Theory vs practice

    Though Musk’s public statements might fit nicely into contemporary libertarianism, there are always contradictions when putting ideology into practice.

    For example, despite Musk’s oft-stated preference for limited government, it’s well documented that his companies have received extensive subsidies and support from various governments.

    Musk will expect this special treatment to continue under a quintessentially transactional president such as Trump.

    The vexed issue of immigration also presents some contradictions.

    Across the campaign, both Musk and Trump repeatedly criticised immigration to the US. Reprising the themes of the far-right Great Replacement theory, Musk claimed illegal immigration was a deliberate plot by Democrats to “replace” the existing electorate with “compliant illegals”.

    However, after the election Musk has argued Trump should preserve categories of skilled migration such as the H1-B visas. This angered more explicit white supremacists, such as Trump advisor Laura Loomer.

    Musk’s motives in arguing for the visas are not humanitarian. H1-B visas allow temporary workers to enter the country for up to six years, making them entirely dependent on the sponsoring company. It’s a situation some have called “indentured servitude”.

    These visas have been used heavily in the technology sector, including in companies owned by both Musk and Trump.

    An unsteady alliance

    So what might we expect from Musk now that he has both political office and influence?

    Musk’s stated aim of using DOGE to cut $2 trillion from the US budget would represent an unprecedented transformation of government. It also seems highly unlikely.

    Instead, expect Musk to focus on creating controversy by cutting DEI initiatives and other politically sensitive programs, such as support for women’s reproductive rights.

    Musk will clearly use his political influence to look after the interests of his companies. Shares in Tesla surged to record highs following Trump’s re-election, suggesting investors believe Musk will be a major financial beneficiary of the second Trump administration.

    Finally, Musk will undoubtedly use his new position to remain in the public eye. This last part might lead Musk into conflict with another expert in shaping the media cycle – Trump himself.

    Musk has already reportedly fallen out with Vivek Ramaswamy, who will now no longer co-lead DOGE with Musk.

    Exactly how stable the alliance between Trump and Musk is, and whether the egos and interests of the two billionaires can continue to coexist, remains to be seen.

    If the alliance persists, it will be a key factor in shaping what many are terming the emergence of a “new gilded age” of political corruption and soaring inequality.

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

    – ref. Elon Musk now has an office in the White House. What’s his political game plan? – https://theconversation.com/elon-musk-now-has-an-office-in-the-white-house-whats-his-political-game-plan-248011

    MIL OSI – Global Reports –

    January 28, 2025
  • MIL-OSI Europe: President Meloni visits Bahrain

    Source: Government of Italy (English)

    The President of the Council of Ministers, Giorgia Meloni, visited Bahrain today, where she met with King Hamad bin Isa Al Khalifa and Crown Prince and Prime Minister Salman bin Hamad Al Khalifa. This was the first ever visit of an Italian President of the Council of Ministers to the Kingdom of Bahrain.

    During the meetings, President Meloni discussed the main regional issues, also in view of Bahrain’s role as the current Presidency of the Arab League.

    President Meloni then went into the topic of interreligious dialogue, in relation to which Bahrain has taken on an important role at international level, and discussed joint responses to the challenge of migration, also through the Rome Process on migration and development.

    Lastly, the discussions provided an opportunity for an exchange of views on enhancing bilateral relations and in particular on promoting mutual investments, with the aim of creating new instruments that can boost economic and financial flows.

    MIL OSI Europe News –

    January 28, 2025
  • MIL-OSI: Codego Revolutionizes Merchant Payments with New Cryptogateway Solution

    Source: GlobeNewswire (MIL-OSI)

    Milan, Italy, Jan. 27, 2025 (GLOBE NEWSWIRE) — Codego, a licensed EMI/Virtual Asset Operator and banking innovator, has announced the launch of its groundbreaking Cryptogateway solution for merchants. This new platform sets a global standard in digital payment technology, offering unparalleled functionality for both in-person and remote transactions.

    The Future of Payments Is Here

    Codego’s Cryptogateway enables merchants to accept cryptocurrency payments seamlessly from customers while receiving funds instantly in their IBAN accounts. Accepting payments in Bitcoin, Litecoin, Dogecoin, Ethereum, USDT, and USDC from customers, while allowing merchants to receive settlements in 35 fiat currencies directly into their preferred IBAN accounts, with zero transaction fees, the solution delivers instant, borderless, and cost-effective payment processing.

    Merchants can create multiple Terminal IDs at no cost, making it easy to manage different business locations or divisions. This flexibility, combined with cutting-edge technology, ensures a user-friendly experience for businesses of all sizes.

    Why Codego’s Cryptogateway Is the Ultimate Solution

    The solution is ideal for industries such as gambling and forex, enabling customers to deposit in cryptocurrencies and ensuring instant settlement of funds directly to merchants’ IBAN accounts.
    – Zero Fees: Merchants pay no commissions on transactions, maximizing their revenue.
    – Instant Settlement: Payments are processed and funds are available instantly, reducing cash flow delays.
    – Global Reach: Supports 35 cryptocurrencies, enabling businesses to cater to a wider audience.
    – Easy Integration: Multi-terminal setups at no cost ensure seamless adoption.
    – Licensed and Secure: Codego operates under EMI/Virtual Asset and banking licenses in multiple jurisdictions, ensuring full regulatory compliance.

    “Codego’s Cryptogateway is not just another payment solution; it’s a revolution in how businesses interact with digital assets. We’re empowering merchants to embrace the future of payments without complexity or excessive costs,” saidSimone Binotto Torre, Chief Operating Officer, Codego.

    A Trusted Global Partner in Financial Innovation

    Codego is renowned for its pioneering role in the financial technology landscape. With banking licenses across multiple countries and a reputation for providing White Label IBAN bank accounts to emerging neobanks, Codego continues to drive innovation. The company operates 11 branches globally, spanning Europe, the Middle East, the United States, and now Oceania. Its  expansion reflects a commitment to bringing cutting-edge solutions to every corner of the globe.

    Redefining Merchant Solutions

    This Cryptogateway launch is part of Codego’s ongoing mission to revolutionize financial services through innovation. From supporting neobanks with White Label solutions to creating customer-centric payment platforms, Codego’s expertise ensures merchants stay ahead in an ever-evolving market.

    About Codego

    Codego is a global leader in financial technology, offering licensed banking and payment solutions that empower businesses to thrive. For more information about our White Label solutions, codegotech.com and codegopay.com. With a presence across Europe, the Middle East, the United States, and Oceania, Codego delivers tailored solutions for modern commerce. From White Label IBAN bank accounts to innovative payment gateways, Codego is at the forefront of financial evolution.

    The MIL Network –

    January 28, 2025
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