NewzIntel.com

Category: Economy

  • MIL-OSI Economics: Enterprise ICT market revenue in Vietnam to witness 16% CAGR over 2023-2028, forecasts GlobalData

    Source: GlobalData

    Enterprise ICT market revenue in Vietnam to witness 16% CAGR over 2023-2028, forecasts GlobalData

    Posted in Technology

    The enterprise ICT revenue opportunity in Vietnam is projected to increase at a compound annual growth rate (CAGR) of 16%, driven by the acceleration in enterprise digital transformation efforts, especially in banking, financial services and insurance (BFSI) segment – the largest end-use market for ICT in the country, according to GlobalData, a leading data and analytics company.

    GlobalData’s Vietnam Enterprise ICT Country Intelligence Report shows that the ICT market size in Vietnam will increase from $15.7 billion in 2023 to $33 billion in 2028, in line with the positive ICT investment sentiment seen among the enterprises.

    This is put to perspective by findings from the GlobalData’s 2024 ICT customer insight survey*, which reveals that 91.2% of respondents, who are the key ICT decision makers in their respective enterprises, have confirmed that there has been an increase in their enterprise ICT budgets in 2024 as compared to previous year.

    Of the three IT infrastructure segments: hardware, software, and services, the services segment is expected to experience the highest cumulative revenue growth over the forecast period. This growth will be largely driven by the widespread enterprise adoption of cloud computing services, revenue for which is projected to increase at a CAGR of 24.8% during the forecast period.

    Samrat Volam, Technology Analyst at GlobalData, says: “The growth of cloud computing services in the country is driven by the enterprises’ push for digital transformation and the growing demand for scalable, cost-effective IT solutions. Additionally, the need for reliable data storage and processing capabilities plays a significant role. The continuing shift towards flexible and remote working solutions further accelerates this growth.”

    BFSI is the largest end-use vertical

    GlobalData forecasts the BFSI sector represents the largest revenue contributor for Vietnam’s ICT market and will remain so through the forecast period, generating an average 10% of the total cumulative revenue for ICT market between 2023 and 2028.

    Volam adds: “The BFSI sector in Vietnam is growing rapidly due to the modernization of financial services and the expansion of digital banking, driven by increased internet and smartphone penetration. Fintech innovations have introduced a variety of financial products, making them more accessible to consumers and businesses. Government initiatives, such as the “National Digital Transformation Program” and the 2021-2025 cashless payment project, are creating a supportive environment for digital transformation in the sector.

    Volam concludes: “The government-owned National Innovation Center (NIC) plays a key role in advancing Vietnam’s ICT market by fostering an open ecosystem, encouraging the adoption of cutting-edge technologies, and driving digital transformation across various industries. By supporting local startups and attracting international investments, the NIC creates a dynamic environment conducive to growth. Additionally, the rapid growth of Vietnam’s IT sector and the rising need for robust cybersecurity measures are accelerating the adoption of advanced security solutions thereby driving the overall ICT market in the country.”

    *GlobalData’s ICT Customer Insight Survey carried out during H1 2024 highlights survey responses related to ICT investment priorities and budget allocations by enterprises in Vietnam.

    MIL OSI Economics –

  • MIL-OSI Economics: Singapore PA&H insurance industry to surpass $8 billion by 2029, forecasts GlobalData

    Source: GlobalData

    Singapore PA&H insurance industry to surpass $8 billion by 2029, forecasts GlobalData

    Posted in Insurance

    Personal accident and health (PA&H) insurance in Singapore is expected to grow at a compound annual growth rate (CAGR) of 6.6% from SGD8.5 billion ($6.2 billion) in 2024 to SGD11.7 billion ($8.6 billion) in 2029, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company.

    GlobalData’s Insurance Database, reveals that the share of PA&H insurance in the total insurance industry grew from 12.6% in 2020 to an estimated 15.3% in 2024 and is projected to reach 17.3% by 2029. PA&H insurance is estimated to grow by 8.9% in 2024, propeled by high demand for private health insurance, as well as rising premium rates.

    Aarti Sharma, Insurance Analyst at GlobalData, comments: “Singapore’s PA&H insurance has experienced a strong growth in 2024, bolstered by heightened health and financial awareness that spurred demand for health insurance products. Demographic factors including an aging population, premium price adjustments in response to inflation, and resurgence in tourism have also supported the growth of PA&H insurance.”

    High demand for integrated shield plans (IPs) and their accompanying riders offered by private insurers have supported the growth of PA&H insurance. MediShield is the national health insurance program, which includes MediShield Life – a government-managed basic health insurance plan with optional coverage provided by private insurers.

    According to the Life Insurance Association of Singapore, approximately 71,000 people enrolled for new IP during H12024, bringing the total coverage to 2.9 million, which is about 71% of Singapore’s population. As a result, total new business premiums for individual health insurance increased by 7.1% in H1 2024, as compared to the same period in 2023.

    Sharma continues: “The increase in premiums due to rising healthcare costs will also support the growth of PA&H insurance. In October 2024, Singapore’s Ministry of Health announced a 35% increase in MediShield premiums, effective from April 2025. The adjustments recommended by the MediShield Life Council include higher claim limits, expanded coverage for new treatments, and changes to deductibles and co-insurance. The premium hike will be implemented in phases, with a cap of 35% by March 2028.”

    The changing demographic conditions in Singapore such as an aging population and growing affluent population will also support PA&H insurance growth. As per the Government of Singapore, nearly 20% of the total population was aged 65 and above as of June 2024, which is a significant contributor to the growth of PA&H insurance.

    Enhanced tourism is also contributing to the expansion of PA&H insurance in Singapore. According to Statistics Singapore, the number of international tourists arriving in the country increased by 16.7% on a year-on-year basis in October 2024. Travel insurance plans, which cover personal accidents in addition to trip cancellations, baggage loss, and flight delays are aiding in the growth of PA&H insurance.

    Sharma concludes: “The outlook for the PA&H insurance industry in Singapore appears positive, with opportunities for insurers to capitalize on the evolving market dynamics and increasing demand for comprehensive health coverage. Rising premium prices, growing tourism, as well as an aging demographic will support the growth of PA&H insurance in Singapore over the next five years.”

    MIL OSI Economics –

  • MIL-OSI Global: How global inequality hinders climate action

    Source: The Conversation – UK – By Susan Ann Samuel, PhD Candidate, School of Politics and International Studies, University of Leeds

    Leaders from around the globe are meeting in Davos. Michael Derrer Fuchs/Shutterstock

    World leaders have gathered for the World Economic Forum annual meeting in Davos, Switzerland. One of their main goals is to align their responses to geopolitical shocks such as floods and wildfires that hamper trade, investment and more.

    The meeting also supposedly aims to find ways to stimulate economic growth to improve living standards, foster a just and inclusive energy transition, achieve security and cooperation amidst conflicts, and accelerate the economic response to an “intelligent age” of AI.

    But, a new report from Oxfam International, published on the first day of the meeting in Davos, highlights how global inequality is more rampant than ever. The report, written by a team of policy campaigners and inequality research advisers outlines how billionaire wealth rose sharply in 2024 worldwide, with the pace of the increase three times faster than in 2023.

    The World Economic Forum lists extreme weather as one of the top global risks. But, as world leaders convene in Davos, the high-profile anti-climate stances of some of them stand in stark opposition to any meaningful progress for climate action.

    The Oxfam report highlights the exploitation involved in creating and sustaining wealth and outlines how, as inequalities deepen, vulnerable communities are disproportionately affected. The most vulnerable – overwhelmingly women, people of colour, Indigenous groups and low-wage workers – are caught in a cycle of insufficient wages, limited services and minimal political influence.

    The report also highlights how wealth inequality is often intertwined with historical processes of extraction — both within countries (for example, through weak labour protections that lowers wages) and between countries (through trade, finance, and resource exploitation).

    The climate connection

    Other research has also shown how inequality is deeply interwoven with climate breakdown. Each crisis exacerbates the other. Historically, the richest nations – and within them, the wealthiest people – have contributed the most to greenhouse gas emissions.

    Meanwhile, lower-income countries that bear little responsibility for global heating suffer the most. These countries, already burdened by debt and systemic inequality, have fewer resources to protect communities from extreme weather, crop failures and infrastructure damage. This makes day-to-day survival a struggle for billions.

    When climate change exacerbates existing inequalities, marginalised communities are denied basic human rights. For instance, droughts reduce crop yields and deplete water sources, so more people — often women and children — have to ration supplies or go without. This directly infringes on their rights to food, safe drinking water and sanitation.

    In these ways, without climate action, the warming planet threatens to widen inequalities by affecting the poorest people most severely. A 2020 World Bank report estimated that an additional 68 to 135 million people could be pushed into poverty by 2030 because of climate change. French researchers identified that climate change also slows down the economic catch-up of poorer countries.



    Read more:
    Extreme weather has already cost vulnerable island nations US$141 billion – or about US$2,000 per person

    The reality on the ground is bleak. Floods in Pakistan displaced thousands and affected more than 33 million people in 2023. That’s ten times more than the total population of Los Angeles where, when the recent wildfires struck, 170,000 people had to be evacuated.

    Around the world, climate movements continue. Law suits that demand climate action are transforming governance. High-level negotiations like the UN’s annual climate summit carry on seeking progress, although the processes could be improved to accelerate change.

    What can Davos do? World leaders need to look at how wealth and power can be redistributed (reparations for climate damages is one way to do this) and low-income, climate-vulnerable nations can be better represented in global decision-making.

    Without this kind of change, there’s a risk climate action will perpetuate the same structural imbalances that first enabled environmental exploitation. Only by tackling both climate injustice and economic inequality together can the world prevent further climate disasters and ensure a more equitable future.

    Don’t have time to read about climate change as much as you’d like?

    Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.

    Susan Ann Samuel receives funding from the University of Leeds, for her PhD research.

    – ref. How global inequality hinders climate action – https://theconversation.com/how-global-inequality-hinders-climate-action-247841

    MIL OSI – Global Reports –

  • MIL-OSI Canada: Government of Yukon secures increase to its borrowing limit

    Source: Government of Canada regional news

    The Government of Canada has agreed to increase the Government of Yukon’s borrowing limit from $800 million to $1.2 billion, providing the territory with greater financial flexibility and long-term financial sustainability.

    The Yukon is a growing and dynamic territory, with an increasing population, expanding communities and increasing demands for essential services. The Government of Yukon needs the flexibility provided by borrowing to support the sustainable development and growth that Yukoners require.

    To date, the government has operated under a strong financial plan that did not require significant borrowing. Recent unforeseen challenges – such as urgent environmental responses, pressures on the health care system and the continued need to address issues related to climate change – have highlighted the value of increased flexibility to manage cashflows throughout the year and of using tools beyond the government’s line of credit.

    Borrowing remains one of the tools available to the government to help meet immediate financial obligations while having the flexibility to continue to invest in essential infrastructure and services that benefit the entire Yukon and address critical responses that are becoming more common.

    The Yukon remains in a strong financial position, having recently reaffirmed its “AA Stable” credit rating from S&P Global Ratings and maintaining a low net debt-to-GDP ratio, which is among the lowest in Canada.
     

    MIL OSI Canada News –

  • MIL-OSI Europe: OSCE Enhances Capacities to Detect Terrorism Financing during the Fundraising Phase

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: OSCE Enhances Capacities to Detect Terrorism Financing during the Fundraising Phase

    Participants in the seminar work on practical cases under the guidance of the expert, Astana, 17-18 December 2024. (OSCE/Yerlen Badykhan) Photo details

    On 17-18 December 2024, the OSCE Programme Office in Astana, in collaboration with key national agencies, held a training workshop focused on detecting the financing of terrorism during the fundraising phase. The workshop aimed to strengthen Kazakhstan’s capacity to counter the complex challenges posed by financial crimes linked to terrorism.
    The event brought together 22 participants representing the Financial Monitoring Agency, the Ministry of Interior, the National Security Committee, and the Prosecutor General’s Office of Kazakhstan. They engaged in expert-led sessions designed to enhance their understanding of identifying suspicious financial activities and disrupting terrorist fundraising efforts at an early stage, namely during fundraising activities.
    The expert provided in-depth insights into the mechanisms used for fundraising, including the misuse of non-profit organizations, crowdfunding platforms, and informal money transfer systems. Participants gained hands-on experience in organizing the collection and analysis of operational information related to countering the financing of terrorism, as well as methods for obtaining data on available financial assets and cash flows of individuals under audit. The sessions also covered advanced approaches for identifying relevant information on individuals involved in investigations, analyzing channels used for collecting funds to finance terrorism, and detecting suspicious transaction patterns. Apart from that, participants learned to identify vulnerabilities in financial reporting systems and apply international good practices to trace and prevent illicit funds from reaching terrorist networks.
    Case studies and practical exercises emphasized the importance of early detection tools and inter-agency co-operation. The workshop highlighted the role of financial intelligence and proactive investigation methods in addressing evolving threats in the financing landscape.
    Head of the Division for Countering Financing of Terrorism at the Financial Monitoring Agency, Sayat Maltayev, shared his feedback: “The training sessions were highly practical and directly applicable to our daily work. The skills and tools shared during this workshop will undoubtedly strengthen our ability to detect and prevent the financing of terrorism at its sources”.
    This workshop underscores the continued commitment of the OSCE Programme Office in Astana to support Kazakhstan’s efforts in combating financial crimes and fostering a more secure and transparent financial system. By equipping professionals with critical knowledge and tools, Kazakhstan is enhancing its capacities to address emerging threats posed by the financing of terrorism.

    MIL OSI Europe News –

  • MIL-OSI Economics: Countdown to CES 2025: Looking Ahead to Panasonic Group’s Opening Keynote and Revisiting Past Innovations

    Source: Panasonic

    Headline: Countdown to CES 2025: Looking Ahead to Panasonic Group’s Opening Keynote and Revisiting Past Innovations

    Panasonic to deliver opening keynote at CES 2025

    On October 1, 2024, Yuki Kusumi, Panasonic Holdings Corporation (Panasonic HD) CEO, was joined in Tokyo by Ms. Kinsey Fabrizio, President of the Consumer Technology Association (CTA)—owner and producer of CES—to announce that Kusumi would deliver an opening keynote speech at CES 2025. The world-renowned tech event takes place in Las Vegas, Nevada from January 7–10, 2025.
    Panasonic Group’s key message for CES 2025, “Well into the future,” expresses the Group’s desire to realize its vision for a better future not only through products, technologies, and services, but also through business activities that include the development of green energy technologies and circular economy practices to help address the urgency of the climate crisis.
    “In our opening keynote, we will introduce cutting-edge initiatives that focus on innovative technologies to enhance the sustainability of society, as well as the health, comfort and safety of families and individuals,” said Kusumi, “and will demonstrate that the Panasonic Group is taking a new step towards realizing the future it aims for.”
    The opening keynote will be the first for Panasonic since 2013. 

    Kusumi CEO speaking at the October 1 event

    Longstanding CES Connection: 57 consecutive years as exhibitor

    Panasonic has exhibited at every CES since 1967, when the first event—known then as the Consumer Electronics Show—was held in New York City. “CES is one of the most important events in our industry because it is a place where people from around the world can gather together to experience cutting-edge technology and seek inspiration,” said Kusumi.
    The Group maintains a long-standing partnership with the CTA, the event’s organizer, as the two hold a shared belief in the potential of technology to realize a sustainable future and the importance of applying technology to the benefit of customers, society, and the global environment.
    “Our relationship with CTA is not just that of organizer and exhibitor, but is also based on a strong desire to solve global issues using the latest innovations. Of course, this strong desire also aligns with the mission of the Panasonic Group,” said Kusumi. 
    At CES2025, Panasonic will continue to showcase its latest initiatives related to Artificial Intelligence, Energy/Power, Lifestyle, and Sustainability at its booth in LVCC Central Hall #16605.

    Chance to share Panasonic Group goals with the world

    CES caters to a global audience. In addition to attracting more than 4,300 exhibitors, CES 2024 saw a total verified attendance of 138,789 people, of whom 56,432 were from overseas. Also in attendance were 5,355 members of the media from 76 countries/regions around the globe. For the Panasonic Group, the annual event is a unique opportunity to share its goals with people around the world and gain their understanding of the strategies and innovations the organization is bringing to bear to realize a better future. 
    A great example of this is CES 2022, where the Panasonic Group chose to announce its global goal of reducing CO2 emissions by more than 300 million tons globally by 2050 through its long-term environmental vision Panasonic GREEN IMPACT, which sets ambitious and high-reaching targets for reducing carbon emissions.
    Sustainability was the featured topic at CES 2023 and Panasonic was among the leading global companies demonstrating their contribution to the fight against climate change. This contribution began with Panasonic’s exhibition spaces: designed to use fewer and recycled materials while cutting down on waste, the booth was crafted from environmentally friendly materials such as bamboo and wheatgrass and did not use carpeting. The exhibit allowed visitors to explore the technologies and solutions Panasonic has developed that support its vision of a smart, ecological world, including hydrogen-powered factories, energy efficient consumer products, and electric mobility.

    Panasonic Exhibition Booth at CES 2024

    At CES 2024, Panasonic’s press conference and booth explained how the Group is positioning environmental initiatives at the center of every aspect of its business. In the first booth area, visitors could see products and solutions that are helping to move homes, businesses, and society toward a decarbonized tomorrow based on sustainable energy, including air-to-water heat pumps, electric vehicle (EV) batteries, vehicle-to-home (V2H) storage battery systems, and perovskite solar cells (PSCs). The second booth area introduced systems and services that promote the transition toward a circular business model based on reduced use of plastic, product refurbishment, and resource recycling.

    “Well into the future” for CES 2025

    Panasonic is now putting the finishing touches on its key message for CES 2025, “Well into the future.”
    Panasonic’s legacy of social contribution continues to drive the steps it takes toward its commitment of making today better than yesterday and tomorrow better than today. Panasonic is looking forward to engaging with people from all corners of the world at CES 2025, explaining its activities and why they are meaningful, and encouraging everyone to become part of the conversation as Panasonic charts the path toward a sustainable future.
    Megan Myungwon Lee, Chairwoman & CEO, Panasonic Corp. of North America and CTA member, commented: “This year marks a significant milestone in Panasonic’s 57-year journey with CES. Guided by our founding philosophy of contributing to society through innovation, our theme, ‘Well into the future’ highlights how technology can improve health, comfort, and safety while driving a more sustainable world. I invite everyone to join the livestream and experience how Panasonic is shaping the future for individuals, families and societies alike.”

    From right: Megan Myungwon Lee, Chairwoman & CEO, Panasonic Corp. of North America; Yuki Kusumi, Panasonic Holdings Corporation CEO; Kinsey Fabrizio, President of CTA; and Megan Pollock, VP, Branding & Strategic Communication at Panasonic North America

    Opening Keynote at CES 2025

    Main Speaker: Yuki Kusumi, Group CEO, Panasonic Holdings Corporation
    Venue: Palazzo Ballroom, The Venetian Resort Las Vegas
    Date and Time: Tuesday, January 7, 2025 8:30–10:00 AM PST (Wednesday, January 8, 2025 1:30-3:00 AM JST)

    CES 2025

    Related Articles

    MIL OSI Economics –

  • MIL-OSI USA: California secures critical funding to address Tijuana River sewage crisis in Imperial Beach and surrounding communities

    Source: US State of California 2

    Dec 21, 2024

    What you need to know: Working alongside federal, state, and local partners, Governor Newsom helped secure an additional $250 million in critical funding to address cross-border pollution from the Tijuana River. This funding allows for the full repair and expansion of the South Bay sewage treatment plant.

    SACRAMENTO – Governor Gavin Newsom today announced that President Biden has signed a federal funding bill allocating $250 million to fully repair and expand the South Bay International Wastewater Treatment Plant near the U.S.-Mexico border in San Diego.

    This vital investment, secured in partnership with California’s congressional delegation and the Biden-Harris Administration, will reduce untreated sewage flows into California’s coastal waters and improve public health and environmental conditions in the region. The sewage crisis is not only impacting public health, the local economy, and ecosystems and species in coastal communities but has also led to local beach closures for 1,000 consecutive days. It has significantly impacted the livelihoods of tens of thousands of people, border agents and U.S. Navy Seal special operation forces who train in those waters.

    In February, October, and November of this year, the Governor met with White House officials to push for action to address this crisis. Earlier this fall, Governor Newsom visited wastewater treatment facilities on both sides of the border to assess rehabilitation efforts and the ongoing sewage crisis, a long-standing environmental and public health issue.

    For far too long, communities in the Tijuana River Valley have borne the brunt of this cross-border pollution crisis. Today’s funding marks a long-term turning point — we are delivering the resources needed to protect public health, restore our beaches, and give residents the clean air and water they deserve.

    Governor Gavin Newsom

    Addressing this decades-long crisis

    Working alongside federal, state, and local partners over years, Governor Newsom has helped secure critical funding and support to address cross-border pollution from the Tijuana River while holding authorities accountable to expedited timelines. 

    Securing federal funding: In partnership with California’s congressional delegation and the Biden-Harris Administration, Governor Newsom has now helped secure $703 million in federal funding — $353 million this year and $350 million last year— for critical upgrades to the South Bay International Wastewater Treatment Plant. The upgrades will significantly reduce the flow of untreated sewage into California’s coastal waters.

    Governor Newsom meets with Senior Advisor to the President, John Podesta and other top White House officials to advocate for funding to address the Tijuana River sewage crisis. 

    State investments to clean up the area, provide air filters to communities: In October, the County announced plans to purchase and distribute $2.7 million worth of air purifiers for local residents, which will be reimbursed by the state. Since 2019, California has allocated $35 million in state funding to address pollution in the Tijuana River Valley and support cleanup efforts:

    • $1 million to fund Tijuana River Valley Recovery Team projects in the Tijuana River Valley. 
    • $9 million to operate and maintain Goat Canyon sediment and trash basins.
    • $4.7 million to Rural Community Assistance Corporation’s Tijuana River Trash Boom pilot Project.
    • $14.25 million for the Smuggler’s Gulch Improvement Project. 
    • $3.3 million for the Tijuana River Valley Habitat and Hydrology Restoration Project. 
    • $3 million to develop a model to forecast the presence of pathogens in San Diego coastal and tidal waters and help measure the effectiveness of potential projects in the Tijuana River Valley.

    Expedited timelines: Federal authorities committed to expediting construction timelines to more quickly repair infrastructure to mitigate sewage flows.

    Public health and air quality monitoring: California public health officials have been working closely with local authorities to monitor air quality and support public health efforts to protect the community. The state helped get the CDC to deploy resources on the ground and assess public health conditions. The state has also supported the local air district on air monitoring, planning, and mitigation strategies to protect public health. 

    Water quality and timeline accountability: State authorities have been using enforcement tools to compel infrastructure improvements to the federal wastewater treatment plant, with the San Diego Water Board holding the federal facility to timelines for several repair and maintenance actions, including replacing and installing additional pumps, cleaning out sedimentation tanks, replacing a junction box and temporary influent pipe, and rehabilitating all mechanical parts for sedimentation tanks.

    Continued federal and Mexico partnerships: The Governor has urged federal and Mexican partners to address this crisis. When Governor Newsom traveled to Mexico for President Claudia Sheinbaum’s inauguration, he discussed with Mexican authorities this crisis and repairing wastewater treatment facilities to prevent excess flows from reaching the U.S. During today’s visit, the Governor also met with Baja Governor Marina del Pilar Ávila Olmeda. In February, October, and November of this year, the Governor met with White House officials to push for action to address this crisis.

    Press Releases, Recent News

    Recent news

    Dec 21, 2024

    News Welcome to The California Weekly, your Saturday morning recap of top stories and announcements you might have missed. News you might have missed1. 📚 SUPPORTING CALIFORNIA STUDENTSBeginning in the upcoming school year, California’s kindergarten, first, and second…

    Dec 20, 2024

    News What you need to know: The federal government adopted a new water management framework that will help the state better manage water supply and protect endangered fish species. SACRAMENTO – Today, California joined the Biden-Harris Administration as it signed off…

    Dec 19, 2024

    News SACRAMENTO – Governor Gavin Newsom, First Partner Jennifer Siebel Newsom, and the California Museum today inducted the 18th class of the California Hall of Fame in a virtual ceremony. This all-women posthumous class consists of trailblazers in athletics, civil…

    MIL OSI USA News –

  • MIL-OSI USA: New federal actions will help California better manage water supply

    Source: US State of California 2

    Dec 20, 2024

    What you need to know: The federal government adopted a new water management framework that will help the state better manage water supply and protect endangered fish species.

    SACRAMENTO – Today, California joined the Biden-Harris Administration as it signed off on a new framework key to moving and supplying water for tens of millions of Californians. Adoption of this framework is an important step for integrating future water projects vital to maintaining the state’s water supply, including the Sites Reservoir and the Delta Conveyance Project.

    Combined, the new framework covering the federal Central Valley Project and the State Water Project provides a more balanced approach to water management that will allow water managers greater flexibility when responding to extreme swings between drought and flood brought on by a changing climate. 

    The framework also benefits California’s endangered fish species through habitat restoration, improved flow measures, monitoring and hatchery production. The federal government’s adoption of this framework follows the approval of a new operating permit for the State Water Project system in November.

    We know what the future has in store for our state: hotter hots and drier dries. That means we have to do everything we can now to prepare and ensure our water infrastructure can handle these extremes. Thanks to the support of the Biden-Harris Administration, California is taking action to make our water systems more resilient and lay the groundwork for new capacity in the future.

    Governor Gavin Newsom

    This week, the U.S. Bureau of Reclamation signed a Record of Decision for new documents known as “biological opinions,” which address the water projects’ ecological impacts – shaping how water can be pumped and moved through the Sacramento-San Joaquin Delta.

    “The new framework supercharges our adaptive management and enables project operators to work with water users and the broader public to better manage the system to benefit millions of Californians and endangered fish species,” said California Department of Water Resources (DWR) Director Karla Nemeth. “Extreme storms and extended droughts mean we need to be as nimble as possible in operating our water infrastructure. DWR remains committed to working with our federal and state partners and using the best available science to support the water supply needs of California’s communities while protecting fish and wildlife.”

    In November, the state received a new operating permit for the State Water Project (SWP). The permit, known as an Incidental Take Permit, was issued by the California Department of Fish and Wildlife (CDFW) following the certification of a Final Environmental Impact Report for long-term operations of the SWP. 

    Building up California’s water supply

    Other actions the state has taken recently:

    • Nearly 400 communities across California have received support to bolster their drinking water and wastewater systems, securing clean drinking water for hundreds of thousands of people. 
    • California is forging ahead with major water projects, including the Sites Reservoir and the Delta Conveyance Project, that promise to provide water supply for millions of Californians once completed.
    • California recently marked the first decade of protecting and sustaining our critical groundwater supplies through the Sustainable Groundwater Management Act (SGMA), which empowers local agencies to tackle overpumping that endangers water supplies for communities, agriculture and ecosystems. 
    • California has increased its groundwater reserves, investing in projects that recharge groundwater basins, including capturing excess stormwater.
    • Governor Newsom unveiled an update to the California Water Plan, outlining comprehensive solutions to enhance the state’s ability to capture and store more water, especially during extreme weather events like floods. 
    • The state distributed $880 million to eliminate water utility debts for 4 million Californians, alleviating financial burdens on residents and businesses and ensuring continued access to water services during challenging economic times.

    Press Releases, Recent News

    Recent news

    Dec 19, 2024

    News SACRAMENTO – Governor Gavin Newsom, First Partner Jennifer Siebel Newsom, and the California Museum today inducted the 18th class of the California Hall of Fame in a virtual ceremony. This all-women posthumous class consists of trailblazers in athletics, civil…

    Dec 19, 2024

    News SACRAMENTO – Governor Gavin Newsom today issued the following statement after the California Public Utilities Commission (CPUC) approved a new plan to reduce reliance on the Aliso Canyon gas storage facility in Southern California. Aliso Canyon must be closed for…

    Dec 19, 2024

    News What you need to know: California supports the Biden-Harris Administration’s new greenhouse gas reduction target announced today as part of America’s commitment to the Paris Agreement. SACRAMENTO – Governor Gavin Newsom today issued the following statement after…

    MIL OSI USA News –

  • MIL-OSI: Šiaulių bankas to invest additional €60 million to finance the renovation of multi-apartment buildings in Lithuania

    Source: GlobeNewswire (MIL-OSI)

    On 20 December, 2024, Šiaulių bankas AB and the European Investment Bank (EIB) signed amendments to the Pre-financing and Contingent loan agreements concluded in 2016 to increase the Bank’s investment by €60 million – up to €255 million from €195 million – to finance the modernization programme of multi-apartment buildings in Lithuania.

    “The multi-apartment building modernisation fund under Bank’s administration has signed financing contracts for almost €200 million this year alone. The demand for renovation projects is gaining pace and we have committed to increase Šiaulių Bankas’ investments in renovation financing by €60 million after discussions with the Ministry of Environment of Lithuania and the EIB. This way we continue to contribute to a more sustainable and country and wellbeing,” says Vytautas Sinius, CEO of Šiaulių Bankas.

    Šiaulių Bankas has been involved in the financing market for the modernization of multi-apartment buildings in Lithuania for more than 12 years. During this period, the Bank and its partners have financed the renovation of more than 3,000 projects total loan worth exceeding €1.2 billion.

    “The Ministry of the Environment appreciates the cooperation with Šiaulių bankas, the financial intermediary chosen by the EIB, which, recognising the importance of renovation, has made it possible to finance the long-standing modernisation of multi-apartment buildings. The additional funding will ensure the continuity of the loan funds created with EU funds and a smooth transition to new financial instruments. I hope that these additional funds will accelerate the implementation of renovation projects,” said Povilas Poderskis, Minister of the Environment.

    “This collaboration between Šiaulių bankas and EIB represents another significant step in strengthening our long-term partnership in the housing sector. We are pleased to support this initiative at a time when financing for renovation and energy efficiency is most needed. By contributing to the Government’s goals in this critical sector, we are helping to drive sustainable development and support the creation of greener, more resilient homes, while advancing broader climate objectives,” said Junona Bumelytė, EIB Fund and Structuring Officer.

    Šiaulių Bankas launched the €200 million SB Modernisation Fund 2, financed by Šiaulių bankas itself, the Government, with the EIB as fund manager, as well as Swedbank, the European Bank for Reconstruction and Development (EBRD), and pension funds managed by the Šiaulių bankas Group this year. This fund has already signed financing agreements for almost all allocated amount to renovate up to 300 multi-apartment buildings across Lithuania.

    The aim is to renovate most of the multi-apartment buildings in Lithuania by 2050. Two thirds of these buildings are currently energy class D and below. Modernized buildings save energy while improving living conditions and increasing value.

    Additional information:

    Tomas Varenbergas

    Head of Investment Management Division

    tomas.varenbergas@sb.lt

    The MIL Network –

  • MIL-OSI China: Experts analyze China’s economic development potential

    Source: China State Council Information Office

    Attendees take part in the Caijing Annual Dialogue 2024 in Beijing, Dec. 20, 2024. [Photo by Yang Chuanli/China.org.cn]

    The Caijing Annual Dialogue 2024, organized by Caijing Magazine, was held in Beijing on Dec. 20. Themed “The Power of Navigating Changes,” the event focused on topics such as expanding domestic demand and boosting China’s capital markets. 

    In the current international context, the Russia-Ukraine conflict remains unresolved, and geopolitical tensions in the Middle East continue to escalate. Notably, the re-election of Donald Trump has introduced new uncertainties to the global political and economic landscape, as well as to China-U.S. relations.

    Numerous experts gathered at the dialogue to analyze the opportunities present in the current economic climate. 

    Yao Jingyuan, a researcher at the Counsellors’ Office of the State Council, emphasized the critical importance of expanding domestic demand and leveraging China’s vast domestic market for economic development. He elaborated, “China possesses the world’s largest domestic demand market, which lays a solid foundation for sustained economic growth and strong support in addressing external challenges.”

    Zhang Bin, deputy director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, highlighted the importance of comprehensively expanding domestic demand. He noted the enormous potential for investments aimed at improving people’s livelihoods and enhancing their quality of life.

    The current overcapacity in manufacturing reflects a need for quality improvement rather than just surplus quantity, Zhang said, and therefore public investment should be focused more toward public service projects. For instance, there are substantial gaps in infrastructure related to culture, entertainment, health care services and sports facilities, which are critical to people’s quality of life, he said. Meanwhile, although the financial sector holds a significant share of GDP, it still falls short in supporting small- and medium-sized enterprises and high-risk services, which are areas that require improvements in service supply.

    Professor Li Daokui, dean of the Academic Center for Chinese Economic Practice and Thinking at Tsinghua University, made an optimistic forecast of an “economic temperature rise” for China’s economy in 2025. He pointed out three main aspects where China’s economy holds immense potential. First, the country’s demographic advantage brings enormous market potential. Second, the national savings rate at 40% is among the highest globally, providing a stable source of funding for the investments needed for economic growth, making it one of the key drivers of sustained economic development. Third, the research and development capabilities in applied research are robust. 

    Although some countries have advantages in original achievements, Li explained that China, with its substantial number of engineering and technical graduates — 4.4 million annually, more than the total of similar talent in other countries — demonstrates strong competitiveness in the application and transformation of technological innovations, driving high-quality economic development.

    Li also emphasized that China’s economic policy will clearly focus on restoring growth rates and initiating a new growth cycle in 2025. He said, “We scholars should take on the responsibility to collaboratively strive in 2025 to promote stronger, faster and more effective policy adjustments, enabling the economic climate to swiftly shift from cold to warm, with expectations for continuous economic growth in 2026 and 2027.”

    MIL OSI China News –

  • MIL-OSI Economics: ADB, Vastu Housing Finance to Enhance Access to Affordable and Sustainable Housing in India

    Source: Asia Development Bank

    NEW DELHI, INDIA (23 December 2024) – The Asian Development Bank (ADB) and Vastu Housing Finance Corporation Limited (Vastu) have entered into a senior secured loan agreement of up to $70 million to enhance access to affordable and sustainable housing loans in India’s underserved states. This financing will be utilized to provide loans to economically weaker sections and low-income groups, with an emphasis on female borrowers. At least 15% of the funds will be allocated to first-time borrowers.

    “ADB aims to address the critical housing shortage in India while promoting environmentally friendly housing that enhances climate resilience for homeowners by focusing on lower-income households and sustainable housing,” said PSOD Director General Suzanne Gaboury. “This partnership with Vastu illustrates ADB’s commitment to supporting financial inclusion and sustainable development in India, in alignment with the country’s national financial inclusion strategy.”

    According to the Reserve Bank of India, shortfalls of 45 million houses for economically weaker communities and 50 million for low-income groups account for 95% of India’s overall housing deficit. These groups often struggle to access credit due to high mortgage costs and limited credit history. This highlights the necessity for affordable housing finance companies that provide loans to new borrowers and self-employed individuals in rural and semi-urban areas.

    Sandeep Menon, Founder, MD & CEO, Vastu, said, “Vastu is poised to expand our reach and deepen our impact in extending affordable housing finance to the credit-underserved segments, with a focus on women borrowers. We are glad to partner with ADB to further this vision. Together, we aim to bridge the credit gap for India’s emerging middle-class and lower-income households.”

    Vastu is a technology-driven affordable housing finance company that focuses on self-employed customers in growing peri-urban and rural cities and towns. With a strong presence in semi-urban and rural areas, Vastu offers affordable housing loans and loans against property, emphasizing sustainability and financial inclusion.

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

    MIL OSI Economics –

  • MIL-OSI Russia: Big challenges for big universities. Polytechnic University formulates proposals for the Ministry of Education and Science

    Translation. Region: Russian Federation –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    On December 20, the Polytechnic University hosted a strategic session entitled “Big Challenges of Large Universities: How to Manage a Large-Scale Educational Organization in the Context of Rapid Changes.” Representatives of the country’s leading universities discussed proposals to the Ministry of Science and Higher Education of the Russian Federation for more effective involvement of large universities to achieve the national goals of the Russian Federation.

    The participants of the strategic session were greeted by the rector of SPbPU Andrey Rudskoy.

    It is very pleasant that, despite the pre-New Year bustle, many universities responded to our proposal to discuss pressing issues of managing large educational organizations. One of our main tasks is to strengthen the contribution to the development of the country, to the creation of a new Russian independent economy. It is very important for the heads of large mega-universities to share their experience and developments, – Andrey Rudskoy emphasized.

    The Ministry of Science and Higher Education of the Russian Federation was represented by Deputy Director of the Department for Coordination of Activities of Educational Organizations, Konstantin Bogonosov.

    The topic of the round table is important for the ministry and the country as a whole, because in modern conditions large universities face a huge number of challenges. In the context of globalization and integration, the presence of large, strong universities that are capable of providing high quality education and science is becoming critical. Such universities should play a significant role in the development and transformation of not only education, but also science and production. Holding such events will allow sharing best practices, identifying common vectors and strengthening the integration of universities among themselves, – noted Konstantin Bogonosov.

    The plenary session was moderated by Irina Karelina, Vice President of the HSE University and Executive Director of the Global Universities Association. She outlined the main issues for discussion: “The Main Challenge of Managing a Large University: Balance between Centralization and Decentralization”, “The Challenge of Diversity in the Context of Digital Transformation of a Large University”, “Financial and HR Management for Large Organizations: What Strategies Contribute to the Development of the University as a Whole”. The heads of the country’s leading universities shared their opinions: SPbPU, KFU, HSE, Bauman Moscow State Technical University, RTU MIREA, Sechenov University, SPbGUPTD, UrFU and PNRPU.

    Irina Karelina gave a report on “The ‘Big’ University in the National Agenda.” First Vice-Rector for Economics and Strategic Development of UrFU Daniil Sandler gave a report on “How Large Universities Can Survive in Priority. Three Nuances.”

    The experience of the Polytechnic University was shared by the acting vice-rector for promising projects of SPbPU, the head of the program “Priority-2030” at the Polytechnic University Maria Vrublevskaya. She told about the challenges that large universities in Russia face, what contribution they make to the development of an integrated system of science and higher education, and how they work with focus and management system.

    A large university is a great responsibility to the country, the industry, to everyone it inevitably influences due to its scale. Large universities perform a very serious social mission. Today, we have consolidatedly confirmed that we, large universities, must be given the opportunity to strengthen our contribution to development through additional resources, communication channels, access to personnel, through autonomy and freedom to choose our priorities. I am grateful to everyone who found the time and opportunity to participate in the discussion, and I look forward to seeing all the guests at the Polytechnic again, – shared Maria Vrublevskaya.

    The experts continued their work in parallel groups. The conversation was moderated by PNRPU Vice-Rector for Priority Projects Pavel Volegov and Director of the SPbGUPTD Project Office Maxim Ermachkov. The participants discussed the main problems in managing large universities and the specifics of implementing their development programs, and also formulated proposals to improve the quality of university management systems.

    Photo archive

    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 –

  • MIL-OSI United Kingdom: Coventry and Warwickshire residents urged to reach out this Christmas

    Source: City of Coventry

    While the festive period is a time of celebration and connection, it can be lonely for some.

    Local organisations are urging residents to reach out to those who may be feeling isolated this Christmas, whilst raising awareness of the support available to help them.

    To encourage the importance of looking after our mental health throughout the winter, Coventry and Warwickshire Partnership NHS Trust (CWPT), local councils and other local organisations are raising awareness of the effects of loneliness and highlighting the support available to those who are struggling.

    Loneliness can impact on both mental and physical health. Research has shown that the longer someone feels lonely or isolated, the worse the impact on health and wellbeing.

    Money struggles, often compounded during the winter months with high fuel bills and other financial pressures, can further increase stress and impact on loneliness as it reduces how often people can see others, and their general wellbeing.  

    Residents can look after their own and their loved one’s mental health and combat loneliness this Christmas, by:

    • Reaching out to friends and family who may feel isolated or find this time difficult due to ill health or bereavement. Call, visit or invite them to join you for events if you are able. Make sure they are aware of events taking place in the area that they could attend
    • Considering joining groups or classes, focusing on things you enjoy doing
    • Visiting places where you can be around others, such as the park, cinema, or café
    • Reaching out to support services such as NHS Coventry, Warwickshire and Solihull Talking Therapies if you or your loved one are struggling with anxiety or depression
    • Reaching out to Citizens Advice for financial support and advice

    There are a number of local organisations who support residents through events and community groups:

    Sonya Gardiner, Chief Operating Officer at CWPT, said: “This Christmas, we are urging residents to check in with those around you and remind them that there is help and support available. We know that people can find it hard to ask for help which is why we are encouraging residents to take the first step to reach out to those who may be feeling alone.

    “If you’re struggling with anxiety or depression, we are on hand to provide help and support. NHS Coventry, Warwickshire and Solihull Talking Therapies offer a self-referral programme. Get started online at talkingtherapies.covwarkpt.nhs.uk or call directly on 024 7667 1090.”

    Cllr Kamran Caan, Cabinet Member for Public Health and Sport, at Coventry City Council, said: “This time of year it’s even more important to look after our own health and the health and wellbeing of others.

    “Just checking in on a neighbour or contacting a friend can make all the difference. There is lots of support available and we want to make sure that people who are struggling know there are always groups, organisations and people that they can turn to.”   

    Councillor Margaret Bell, Portfolio holder for Adult Social Care and Health said: “Christmas can be a wonderful time of year, but the added pressures it puts on people means it can be a challenging and lonely time for many.

    “There is a wide range of support services accessible to anyone who is feeling low, stressed, overwhelmed or struggling with their mental health. Please open up to other people, go online, pick up the phone or meet with support workers who are there to help those in need during the festive season. Please do reach out for help and support within Warwickshire.”

    There are many resources available and support on offer across Coventry and Warwickshire for anyone who is struggling throughout the winter months:

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: expert reaction to govt setting out plans for a complete ban of neonicotinoids

    Source: United Kingdom – Executive Government & Departments

    Experts commented on the Government’s plans to completely ban neonicotinoids. 

    Dr Philip Donkersley, Senior Researcher in Ecology and Evolution at Lancaster University, said:

    Is this evidence-based?

    “The hazards posed by neonicotinoid pesticides to pollinators have been established by a number of high impact research articles for nearly a decade. There is no question that restricting their use can have significant benefits to both domesticated and wild pollinators.”

    How significant a change is this to the rules we have currently?

    “There are no significant changes to current policy, which will be of benefit to farmers, giving them at least the entirety of 2025 to change their pest management plans accordingly is a good thing for farmers. Current policy in the UK to allow neonic use under specific conditions has arguably failed, given that the conditions have been consistently met since the policy was adopted (i.e. It was entirely legislative, not functional). Going forward, a policy of absolute moratorium brings us closer in line with European standards.”

    Why are neonics still used, and what will farmers need to use instead? 

    “Neonics are used because of their ease of application, high efficacy and availability from suppliers. Some farmers may argue a moratorium will drive them to using more hazardous pesticides, like the pyrethroids, however with proper government guidance, a policy basis and direct financial support, a drive towards regenerative agricultural methods, combined with natural enemy protections and integrated pest management practices will be as good, if not better for the farm finances, productivity, and environmental sustainability. We know this works from both European and global farming communities – massively reducing pesticide use brings back natural enemies like spiders, parasitoid wasps, lacewings etc, which in turn kill off pest species.”

    What will be the effect on pollinators and crops? 

    “With any restriction of pesticide use, there will be a lag period, where the environment on the farm needs to recover, the farm productivity will be damaged due to sudden increases in pest abundance. However, over the long term, we see a gradual increase in pollinator health and farm finances. Governments should direct support farms during this period in order to safely permit them and their business to make the transition towards a more regenerative farming practice.”

    Prof Giles Budge, Modelling Evidence and Policy Research Group, Newcastle University, said:

    “I would welcome any legislation that protects our managed and unmanaged pollinator communities. However, as a society we must always consider the costs and benefits of any policy change. Sometimes new policies that are well meaning may have unintended consequences to the sustainability of our food production system, as well as our insect communities. Oilseed rape is a great example. Seed-coated neonicotinoids were banned from use on oilseed rape without time to formulate a clear plan for what alternatives might be available to manage both aphid and cabbage stem flea beetle pests.

    “The story has positive and negative outcomes. First, the abruptness of the ban led to disruptive innovation in the industry, and seed companies were quick to produce cultivated varieties of oilseed rape which are resistant to turnip yellows virus, the main reason for controlling the aphid. However, many farmers switched to using multiple pyrethroid sprays to save their oilseed rape crops from damage by cabbage stem flea beetles. Pyrethroid sprays were ineffective against cabbage stem flea beetles, which were resistant, but highly effective against non-target insects. Crops were lost and the planted area of oilseed rape has dropped. Fewer planted oilseed rape crops has removed an important source of pollen and nectar for our pollinators, and challenged the farming community to find alternative crops and ways of working.

    “The outcome for food production is that we have moved from a net surplus of oilseed rape production, where we exported, to a need to import oilseed rape into the UK in order to meet our needs. Our food security has been compromised, and the irony is that some oilseed rape imports are grown in countries where the use of neonicotinoid seat coatings has continued! A policy that sought to protect our pollinators has seemingly moved the problem abroad, impacted our farming community, and decreased our food security.

    “I reiterate that I would welcome any legislation that protects our managed and unmanaged pollinator communities, but we need to ensure our farmers can continue to grow our food in a sustainable way. We need to take ownership of any issues with the sustainability of our food production, but we also need to ensure that our farmers have access to viable and sustainable solutions.”

    Prof Linda Field, Emeritus Fellow, Protecting Crops and the Environment, Rothamsted Research, said:

    “On the face of it, this would seem to be a measure that will help bees and other pollinators that can potentially be affected by neonicotinoids. However, this effect may be small given that bees do not forage in sugar beet crops, where the previous emergency authorisation has been applied.

    “It should also be borne on mind that if neonicotinoids are not used in sugar beet in the UK, then the aphid that carries virus disease in this crop can’t be controlled, as it is resistant to alternative insecticides. This is very likely to result in reduced production of beet sugar and the need for more imports of cane sugar.

    “The impacts of pesticide and pesticide stewardship requires broad farm-system landscape assessment. A single intervention is inevitably linked to many other factors that ultimately dictate any net gain or loss on biodiversity.”

     

    Prof Dave Goulson, Professor of Biology (Evolution, Behaviour and Environment), University of Sussex, said:

    “It is refreshing to see that the new government is sticking by its commitment to end all use of “bee killing pesticides”, by which it means the three neonicotinoids imidacloprid, thiamethoxam and clothianidin.

    “These chemicals have been banned from agricultural use in all the EU and the UK since 2018. Until 2023 Europe allowed “emergency authorizations” in special circumstances, but these are now illegal in Europe. However, for the last four years the previous UK government granted emergency authorisation for the use of thiamethoxam on sugar beet. In doing so they ignored the science and went against the clear advice of the Health & Safety Executive and Expert Committee on Pesticides.

    “Farmer across Europe grow sugar beet successfully without neonics. Only the UK has been allowing them, becoming the dirty man of Europe. Let’s hope this is finally coming to an end.

    “By way of background, neonics are highly potent neurotoxins, lethal to bees and all other insects at miniscule doses. They are often used as seed dressing, but only about 5% of the chemical is absorbed by the crop. The rest pollutes the soil and soil water. Neonics are highly persistent, so soils remain contaminated for years. Neonics leach from soil into streams, harming aquatic life. They are also sucked up from the soil by hedgerow wildflowers and farm trees, contaminating all parts of the plant including pollen and nectar, and hence poisoning pollinators. This is why the EU introduced a ban on neonics in 2018, after prolonged evaluation of all the evidence by EFSA.

    “Let’s not forget that sugar is very bad for us (diabetes, obesity etc.). We have been poisoning our soils, streams and bees to grow a product that makes us ill. Healthy crops could be grown on the land used for sugar beet. Government could extend sugar taxes to reduce our consumption.”

    Dr Katie Powell, Butterfly Conservation Postdoctoral Researcher and British Ecological Society English Policy Group committee member, said:

    Is this evidence-based?

    “Yes. There is ample evidence that neonicotinoids have devastating lethal and sub-lethal effects on wildlife, both directly and indirectly through being passed through the food chain. Although the current method of applying neonicotinoids for emergency use is through seed-coatings, which is supposedly directed at target species (namely aphids), ‘beneficial’ insects feed on these target species and so non-target organisms – like ladybirds and hoverflies – are inadvertently exposed to neonicotinoids. Insects feeding on the pest species that are targeted by neonicotinoids include some pollinating insects such as hoverflies. Also, flowering plants grown near to neonicotinoid coated seeds, or subsequently grown in soil used to grow sugar beet where seeds have been treated, can carry through the pesticide to pollinators like bees at a later stage. This can then have population-level consequences and contribute to their decline. As well as this, leaching and accumulation of neonicotinoids from treated seeds into soils and waterways occurs, impacting the development of soil organisms and aquatic wildlife.”

    What will farmers need to use instead?

    “The worry is that farmers will turn to the use of boom spraying using other approved pesticides; this should not be what farmers turn to as an alternative, as this may be equally damaging to insects and other wildlife when applied in a non-targeted way. Approaches like Integrated Pest Management (IPM) and the development of genetic approaches to pest resistance and virus forecasting need to be further developed to replace widespread pesticide use. The government should plough research into these approaches to support farmers after the ban.”

    What will be the effect on pollinators?

    “The ban should have a positive effect on pollinators in the long-term, as well as benefits for lots of other insects like pest-controlling ladybirds and parasitic wasps which will have a chance to recover from the toxic effects of neonicotinoids. These beneficial insects naturally keep the pests that neonicotinoids aim to control in check through predating on them. Some of these beneficial predator species are also pollinators. Insect (and pollinator) declines are caused by a range of interacting factors, made worse by unsustainable use of pesticides. To bolster against population crashes and build resilience in populations against other drivers like extreme weather events, it is crucial to remove as many drivers of decline as possible and for habitat to be improved in order to support species of insect, including bees, butterflies and moths.  As populations start to recover from low levels due to their living conditions being improved, there is a greater chance they will be robust against other drivers like climate change.”

     

     

    Declared interests

    Giles Budge: “I declare no personal interest.”

    Katie Powell: “I am involved in a campaign with Butterfly Conservation on this topic.”

    For all other experts, no reply to our request for DOIs was received.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Eight-year ban for former footballer who ran London sports academy

    Source: United Kingdom – Executive Government & Departments

    Kieron Minto-St.Aimie received a director’s disqualification for claiming a £25,000 Covid loan his company was not entitled to.

    • Kieron Minto-St.Aimie is a former professional footballer who went on to run a sports academy in Brent. 
    • His company received the £25,000 Covid Bounce Back Loan after he overstated its turnover. 
    • He was disqualified as a company director for eight years at London’s Royal Courts of Justice.  

    A former professional footballer has been banned from being a company director for eight years.  

    Kieron Minto-St.Aimie claimed a £25,000 Covid Bounce Back Loan for the St Aimie’s Sports Academy Community Interest Company in Brent, when it was entitled to much less. 

    Elizabeth Pigney, Chief Investigator at the Insolvency Service, said: “Kieron Minto-St.Aimie successfully applied for a Covid Bounce Back loan by overstating his company’s turnover. 

    His eight-year disqualification should serve as a warning to others that the justice system will not allow business owners to make false declarations to obtain funds that were so crucially needed by other small and medium-sized businesses during the pandemic.

    The former footballer, aged 35, of Pound Lane in London, began his career at Queens Park Rangers before spells at clubs including Oxford United and Barnet. 

    He opened St.Aimie’s Sports Academy, on Harlesden Road in Brent, as its sole director in 2016.  

    Before its closure in January 2023, the academy was known in the local community for providing football coaching and mentoring to children and young people.  

    In May 2020, Minto-St.Aimie applied for a Covid Bounce Back loan of £25,000.  

    However, in order to obtain the £25,000 he overstated the company’s turnover by £60,000 as it should have only been entitled to around £10,000 under the scheme based on its actual turnover.  

    On 6 December 2024, the judge at London’s Royal Courts of Justice disqualified Minto-St.Aimie as a company director for eight years.

    Further information 

    Updates to this page

    Published 23 December 2024

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Authority committed to ‘Making a Difference’

    Source: Isle of Man

    The Isle of Man Financial Services Authority has underlined its commitment to supporting the Island’s reputation as a successful place to do business.

    The Authority’s Annual Report for 2023/24 highlights how the organisation is strengthening its core activities and embracing technology to create the right environment to foster a thriving and sustainable economy.

    The theme of this year’s report is ‘Making a Difference’ and captures the progress that has been made by the regulator in meeting its objectives of protecting consumers, reducing financial crime and maintaining confidence in the finance sector through effective regulation.

    After a period of significant change, the current focus is on embedding the updated supervisory approach and organisational structure, as well as enhancing data collection and analysis.

    The report explains how the Authority is targeting resources in line with a firm’s size, the type of activities it conducts and its potential to disrupt the Island’s financial system. The aim is to deliver better outcomes by driving a consistent and proactive programme of supervisory engagement.

    Work is being underpinned by the increased use of data and innovative ways of working, with a view to achieving greater automation, straight-through processing and exception reporting.

    A firm focus is placed on working collaboratively with industry and Government in the best interests of the Island. This includes efforts to demonstrate the long-term effectiveness of the Island’s anti-money laundering and countering financial crime (AML/CFT) regime ahead of its next MONEYVAL evaluation.

    The annual report, which covers the period 1 April 2023 to 31 March 2024, also sets out the Authority’s financial statements, in addition to providing updates on priority workstreams and an insight into future plans.

    Lillian Boyle, Chair of the Authority’s Board, said: ‘As a forward-looking regulator, we acknowledge the need to recognise and prepare for emerging risks and new opportunities. We take account of the likely direction of international standards, the potential impacts of geopolitical changes in the markets where our firms operate and the pace of change in technology and innovation. This influences our strategic approach and helps the Authority to make a positive difference to the Island’s position as a well-regulated and successful jurisdiction.’

    Bettina Roth, Chief Executive Officer, added: ‘We are embedding a programme of transformational change at the Authority to ensure we operate as effectively as possible into the future. We are committed to continuous improvement and instilling a culture of high performance. Collaboration remains central to our ambitions, and it is essential for the regulator, industry and Government to work together on behalf of the Island, particularly during such unpredictable times.’

    MIL OSI Economics –

  • MIL-OSI United Kingdom: London set to be undisputed global capital for women’s sport in 2025 as city plays host to the world’s biggest events

    Source: Mayor of London

    • The Women’s Rugby World Cup 2025 final at Twickenham set to have world-record attendance for a one-day women’s rugby event
    • Women’s tennis will return to the Queen’s Club for first time in more than 50 years
    • World class women’s cricket, football, netball, hockey, basketball and athletics also feature on packed sporting events calendar in London next year

     

    The Mayor of London, Sadiq Khan has today declared that London is set to be the undisputed global capital for women’s sport in 2025, with some of the world’s biggest sporting events to be hosted in the capital next year.

    The final in London is set to have a world-record attendance for a one-day women’s rugby event, with demand outstripping the supply of tickets for the Twickenham showpiece. Attendance is expected to top both the 58,498 who watched England beat France at the same venue in 2023 and the 66,000 at the Stade de France for the women’s Olympic sevens at Paris 2024. In total, more than 220,000 tickets have already been sold for the tournament, ensuring it will be the best attended in history.

    Ahead of the Women’s Rugby World Cup, Twickenham will host one of the biggest matches in the 2025 Guinness Women’s Six Nations Rugby as England face France on 26 April, in a clash of the two highest ranked teams in the tournament.

    Another major milestone for women’s sport next year will be the return of a women’s tennis tournament to the iconic Queen’s Club for the first time in more than 50 years. The new Women’s WTA 500 event begins on 9 June, with former British No.1 and Olympic Silver medallist Laura Robson appointed as Tournament Director. The tournament will be held shortly ahead of the prestigious 2025 Wimbledon Championships at the All England Lawn Tennis Club, where the world’s best women’s and men’s tennis players will compete for the for the biggest prize in the sport.

    In cricket, England Women face India in a highly anticipated clash between two of the world’s best sides. They will compete in a T20 International at The Kia Oval on 4 July, ahead of a One Day International (ODI) on 19 July at Lord’s, the Home of Cricket. The first ever Vitality Blast Women’s Finals Day will take place at The Kia Oval on 27 July while The Hundred competition is scheduled to take place across August, where London has two women’s teams – the Oval Invincibles (based at The Kia Oval) and London Spirit (based at Lord’s).

    The summer will also see the return of world class athletics to London Stadium as the 2025 London Athletics Meet is staged on 19 July as part of the Wanda Diamond League series. The 2024 event was a sell out for a second year in a row and featured international superstars including Dina Asher-Smith, Keely Hodgkinson and Femke Bol, with a world class line up expected again this year.

    London remains the world’s top destination for women’s football. On 26 February the England Lionesses, the current European Champions, will host reigning World Champions Spain at Wembley Stadium in a repeat of the 2023 FIFA Women’s World Cup final. The Adobe Women’s FA Cup final will take place at the same venue on 18 May.

    London teams also make up almost half of the Barclays Women’s Super League (WSL). Arsenal, Chelsea, Crystal Palace, Tottenham Hotspur and West Ham United are all currently competing in the 24/25 WSL, with the season running until May 2025. After a summer break, the 25/26 WSL season will begin in September.

    The capital is also the best city to watch netball, with the Copper Box on Queen Elizabeth Olympic Park the home of Netball Super League (NSL) team London Pulse. The new NSL season will run from March to July 2025, with the NSL Grand Final taking place at the O2 Arena on 6 July.

    In basketball, the Playoff Finals will also return to the O2 Arena on May 18, where the top teams from the Women’s and Men’s Super League’s will compete for the coveted title.

    Mayor of London, Sadiq Khan said: “I’m so excited that London is set to be the undisputed global capital for women’s sport in 2025, with some of the world’s biggest events coming to our city next year.

    “I am delighted that we will be playing host to the Women’s Rugby World Cup, while we will also see the historic return of women’s tennis to the Queen’s Club. This is in addition to world class women’s cricket, football, netball, hockey, basketball and athletics in the capital.

    “I would urge Londoners to take up the opportunity to attend some of these amazing events, cheering on our top athletes and sports women. Ensuring London hosts many of the world’s leading sporting events is an important part of our work building a better London for everyone.”

    An estimated six million people attended sporting events across the capital this summer, including the UEFA Champions League Final and European Professional Club Rugby Finals, cementing London’s position as the undisputed sporting capital of the world.*

    Polling from YouGov found that 62 per cent of Londoners feel proud of living in London when major sporting events are hosted, with 72 per cent of 18 to 24-year-olds feeling proud. More than two-thirds (69 per cent) of Londoners think that hosting major sporting events impacts positively on London’s economy.**

    The capital was also crowned the world’s leading sporting events host in the 2024 Global Cities Report as well as the best cultural experience destination.***

    Women’s Rugby World Cup 2025 Managing Director, Sarah Massey said: “With the Women’s Rugby World Cup 2025 set to capture hearts and headlines globally, the anticipation for the tournament is reaching new heights.

    “We’ve seen unprecedented demand for tickets across the tournament and with the iconic Twickenham Stadium hosting the final, fans can expect an unmissable experience and an incredible celebration of women’s rugby on its biggest stage.”

    The FA’s Women’s Technical Director, Kay Cossington said: “2025 is shaping up to be another momentous year for the women’s game and the Lionesses as we look forward to an unmissable EURO in the summer. Before then, the European champions will take on the world champions Spain at Wembley Stadium in February with another bumper crowd expected through the turnstiles.

    “The Lionesses’ fixtures at Wembley are always so special and reminiscent of that memorable July day in 2022 when the team made history by lifting our first major trophy. Away from England, Wembley Stadium will once again play host to the landmark event in the domestic women’s calendar – the Adobe Women’s FA Cup Final. With the final selling out Wembley for the last two seasons in a row, we’re expecting the May 2025 final to be another unmissable showpiece.”

    The FA’s Women’s Technical Director, Kay Cossington said: “2025 is shaping up to be another momentous year for the women’s game and the Lionesses as we look forward to an unmissable EURO in the summer. Before then, the European champions will take on the world champions Spain at Wembley Stadium in February with another bumper crowd expected through the turnstiles.

    “The Lionesses’ fixtures at Wembley are always so special and reminiscent of that memorable July day in 2022 when the team made history by lifting our first major trophy. Away from England, Wembley Stadium will once again play host to the landmark event in the domestic women’s calendar – the Adobe Women’s FA Cup Final. With the final selling out Wembley for the last two seasons in a row, we’re expecting the May 2025 final to be another unmissable showpiece.”

    The All England Lawn Tennis Club Chief Executive, Sally Bolton said: “There is no doubt that London is a sporting powerhouse and 2025 is set to be a year of fantastic women’s sport for the capital. We look forward to playing our part as we welcome the world to Wimbledon for the 138th staging of The Championship with the world’s best tennis players going head to head on the lawns of SW19.”

    The ECB Director of Women’s Professional Game, Beth Barrett-Wild said: “Off the back of another year of extraordinary growth in 2024, we are set for an unmissable summer of women’s cricket in London in 2025.

    “In June, England Women take on India with two huge games here in the capital; in July, the first ever Vitality T20 Blast Women’s Finals Day is coming to the Kia Oval; and across August, The Hundred will be front and centre with The Final at Lord’s.

    “Last year The Hundred once again broke the global record for total attendance at a women’s cricket competition, with 320,000 fans in attendance, we’ll be hoping to see even more fans this year.

    “All this sets the scene for a huge 2026 when we host the ICC Women’s T20 World Cup here in England, with women’s cricket here in London at the centre of a global competition.”

    Netball Super League Managing Director, Claire Nelson said: “We are incredibly excited to bring the Netball Super League Grand Final to The O2 for the very first time in 2025.

    “The O2 is one of the most prestigious arenas in the world and will provide the perfect backdrop to a world class event and an unforgettable experience for fans, players and everyone involved. As we enter a new professional era for League, this event will be a major moment for our sport that will see us continue to push the boundaries to make our events bigger and better than ever before.”

    UK Sport CEO, Sally Munday said: “2025 is going to be a spectacular year for women’s sport in the UK. In particular,  we are incredibly excited about the Women’s Rugby World Cup, which is set to be a big celebration of Women’s sport with huge potential to unite and inspire people right across the UK. The final at Twickenham Stadium promises to be one of the iconic sporting moments of next year.

    “We know that live sport has a unique place in the hearts of the British public. As our nation’s capital, London is a crucial partner in making live sport matter and maintaining the UK’s world-leading reputation for hosting major sporting events. 

    “We look forward to working together with the Mayor and his team to bring more of the biggest and best sporting events in the world to our shores in 2025 and beyond.”

    MIL OSI United Kingdom –

  • MIL-OSI Global: 4B: how South Korean women are leading a radical movement against misogyny

    Source: The Conversation – UK – By Youngmi Kim, Senior Lecturer in Korean Studies, University of Edinburgh

    Tanawat Chantradilokrat / Shutterstock

    Donald Trump’s return to the White House has sparked fears about the future for women’s rights in the US. Trump has a long history of misogyny and has boasted about his role in shaping the court that overturned women’s constitutional right to an abortion in 2022. His victory thus, unsurprisingly, sparked a reaction.

    Following November’s election, some American women encouraged each other to delete dating apps, sign up for self-defence classes, and get on birth control. Others drew attention to 4B, a radical feminist movement founded in South Korea that has seen some women refuse to marry, have children, engage in romance, or participate in sexual relationships with men.

    The movement, which first came about in the 2010s as a response to the misogyny that is pervasive across South Korean society, went viral on social media in the aftermath of Trump’s election, especially in the US. It takes its name from its four defining tenets: bihon (no marriage), bichulsan (no childbirth), biyeonae (no dating), and bisex (no sex).

    Feminist activism in South Korea is not new, but it only gained wide popularity and support over the past decade. In 2016, a woman was killed at a public toilet near the Gangnam subway station in the country’s capital, Seoul, by a stranger who told the police he committed the crime because he had been “belittled by women” many times in the past. The tragic event sparked mass public mourning and prompted backlash against misogyny across the nation.

    The #MeToo movement, which has highlighted sexual harassment and abuse around the world, took hold in South Korea the following year. This started with allegations of rape, assault and sexually predatory behaviour against renowned Korean filmmaker Kim Ki-duk and actor Cho Jae-hyeon.

    Kim responded to South Korea’s state broadcaster MBC, where the accusations were first made, by saying, “I never tried to satisfy my personal desires using my status as a film director,” and claimed that he only engaged in “consensual sexual relationships”. Cho pledged his innocence, saying: “The things I see in news are so different from truth.” And, in January 2021, the Seoul Central District Court ruled in his favour.

    But allegations quickly spread to the political arena. Ahn Hee-jung, the governor of the western province of South Chungcheong resigned in 2018 after his secretary publicly accused him of repeatedly raping her. Ahn was sentenced to three-and-a-half years in prison for sexual assault.

    The former mayor of Seoul, Park Won-soon, was then found dead in 2020 after an apparent suicide one day after his secretary filed a complaint against him with the police over sexual harassment. More than 500,000 people signed a petition calling on the government not to use public money for Park’s five-day state funeral.

    Sexual violence in South Korea is not exclusive to influential figures. Thousands of people in South Korea – the vast majority of whom are female – have fallen victim to illicit filming in public places over the past decade. Between 2011 and 2017, there was a fivefold increase in the number of people identified by the police for illicit filming, from 1,300 to 5,300. South Korea’s former president, Moon Jae-in, said in May 2024 that spy cams had become a “part of daily life”.

    Many of these clips are subsequently shared on adult websites. A report by international non-governmental organisation Human Rights Watch in 2021 found that the anguish caused by this crime was so severe that it led to depression and suicidal thoughts among the affected women and girls. It was out of this deep-seated misogyny that South Korea’s 4B movement was born.

    #MeToo protest march in Seoul, South Korea in August 2018.
    Socialtruant / Shutterstock

    From hopelessness to resentment

    The 4B movement took root at a time when South Korea was undergoing its own reckoning with gender violence and inequality. But, in my position as a researcher of online political participation and activism, I see it as also entwined in a broader societal movement in which a generation of South Koreans in their 20s and 30s have given up on numerous things. This includes not only dating, marriage and childbearing, but also employment, home ownership, and, in general, hope for their future.

    This sense of hopelessness can be traced to the aftermath of the Asian financial crisis in 1997, when economic reforms were implemented to increase the flexibility of the labour market. Since then, a growing number of South Korean citizens have found themselves unable to find secure employment, which has led a growing number of young people to give up entirely on searching for a job.

    These feelings of hopelessness have manifested in gender conflict online. Many young men see themselves as victims of the achievements of South Korea’s feminist movements over the past two decades, particularly the abolition of the country’s military service bonus point system in 1999. This system granted men who had completed their mandatory military service an additional 3% to 5% in public official recruitment exams.

    South Korean politicians have weaponised this growing resentment, and have used sexism and misogyny for electoral gain. South Korea’s now suspended current president, Yoon Suk Yeol, won the presidential election in 2022, in part thanks to his efforts to consolidate the support of aggrieved young male voters. During his campaign, Yoon promised to abolish the ministry of gender equality and family, accusing it of treating men like “potential sex criminals”.

    There are certainly aspects of this trend of giving up that are specific to South Korea. But it also resonates across many advanced industrialised societies that are becoming increasingly unequal. Societal conflicts are being compounded by growing economic divides in an increasingly polarised world.

    Youngmi Kim receives funding from the Royal Society of Edinburgh (‘Arts and culture-led mobilization in Leith and Gamcheon’) and the Academy of Korean Studies (‘Consolidating the Scottish Centre for Korean Studies at the University of Edinburgh’).

    – ref. 4B: how South Korean women are leading a radical movement against misogyny – https://theconversation.com/4b-how-south-korean-women-are-leading-a-radical-movement-against-misogyny-243296

    MIL OSI – Global Reports –

  • MIL-OSI USA: FACT SHEET: President  Biden Takes Action to Protect American Workers and Businesses from China’s Unfair Trade Practices in the Semiconductor  Sector

    US Senate News:

    Source: The White House
    A resilient and secure supply of foundational semiconductors is critical to U.S. national and economic security.  These semiconductors are essential to key sectors of the U.S. economy, powering cars, medical devices, critical infrastructure, key aerospace and defense systems, and the goods and services we rely on every day.
    The People’s Republic of China (PRC) routinely engages in non-market policies and practices, as well as industrial targeting, of the semiconductor industry that enables PRC companies to significantly harm competition and create dangerous supply chain dependencies in foundational semiconductors.  
    Today, the Biden-Harris Administration is taking additional action to protect American workers and businesses from the PRC’s unfair trade practices in the semiconductor sector and support a healthy domestic industry for foundational semiconductors. 
    These actions include:
    Launching a Section 301 investigation to examine the PRC’s targeting of foundational semiconductors.
    The Office of the U.S. Trade Representative is launching a Section 301 investigation to examine the PRC’s targeting of foundational semiconductors (also known as legacy or mature node chips) for dominance and the impact on the U.S. economy.
    In addition, the investigation will initially assess the impact of the PRC’s acts, policies, and practices on the production of silicon carbide substrates or other wafers used as inputs into semiconductor fabrication.
    PRC semiconductors often enter the U.S. market as a component of finished goods. This Section 301 investigation will examine a broad range of the PRC’s non-market acts, policies, and practices with respect to the semiconductor sector, including to the extent these semiconductors are incorporated as components into downstream products for critical industries like defense, automotive, medical devices, aerospace, telecommunications, and power generation and the electrical grid. 
    Awarding and catalyzing billions of dollars in semiconductor manufacturing projects across the country.
    The Biden-Harris Administration has championed efforts to ensure more chips are made in America by American workers, in particular through CHIPS and Science Act funding, which allocates at least $2 billion for mature semiconductors.  This was a key part of President Biden’s vision for renewing American economic leadership and a vibrant American industrial base.
    The United States is investing across the semiconductor supply chain—including the upstream materials critical to chip manufacturing such as silicon carbide and wafers.  To date, the Department of Commerce has catalyzed billions of dollars in private sector investments that will serve the American auto and defense industries, including the Texas Instruments projects in Texas and Utah, the GlobalFoundries projects in Vermont and New York, and the Bosch project in California.  Many of these investments also include supply agreements with customers across critical infrastructure industries to maximize the predictability, volume, and quality of domestically manufactured chips needed to power complex technology.  These investments are compounded and sustained by this Administration’s 48D Advanced Manufacturing Investment Credit, which will provide up to a 25% tax incentive for the manufacturing of semiconductors, semiconductor manufacturing equipment, and wafer production.
    Reducing national security risks in federal supply chains.
    Semiconductors are key components of U.S. critical infrastructure that have many military applications. It is vital that federal agencies procure secure and trusted chips. 
    To clean up federal procurement of semiconductors, the Biden-Harris Administration is:
    Implementing a statutory provision in the James M. Inhofe National Defense Authorization Act for FY 2023 that prohibits executive agencies from procuring or obtaining products and services that include chips from certain Chinese fabs and other entities of concern.
    Releasing a Request for Information (RFI) to gauge the best ways for government contractors to scale up their use of domestically manufactured chips, particularly for critical infrastructure.  The RFI intends to solicit commercial ideas from industry that may inform future policymaking in support of the government-wide effort to leverage existing manufacturing capacity.
    Issuing guidance to help the Federal Government – the world’s largest buyer – organize its demand for domestic semiconductors so that agencies can mitigate the risk posed by undue dependence on foreign manufacturing, limited competition, and possible higher manufacturing costs.  This effort includes agencies developing strategies to dual or multiple source semiconductors, increasing transparency for critical infrastructure supply chains, and providing the government’s demand for the products and services that use these chips.
    Prioritizing supply chain resilience and bolstering our toolkit to address non-market policies and practices.
    President Biden made supply chain resilience a Day One priority in his Administration.  The first-ever U.S. Government Quadrennial Supply Chain Review, published on December 19, provides an in-depth assessment of the United States’ critical supply chains, actions taken over the last four years to make each supply chain more resilient, and necessary steps to increase U.S. resilience in the future. 
    The Review includes a comprehensive strategy to respond to non-market policies and practices because they pose a significant challenge in critical industries covered in the supply chain report.  The strategy details the types of comprehensive action necessary to combat non-market policies and practices, including procurement policies. 
    Working with our partners around the world to strengthen cooperation on semiconductor supply chains and address shared concerns about China’s unfair practices.
    Semiconductor supply chains are critical not only to the United States but to all of our allies and partners.  The Biden-Harris Administration has closely consulted with allies and partners on promoting economic resilience and addressing the PRC’s non-market practices in the semiconductor supply chain, including through the following efforts:
    The State Department launched the CHIPS and Science Act’s International Technology Security and Innovation (ITSI) Fund, which has thus far partnered with eight countries – Costa Rica, Panama, Vietnam, Indonesia, India, Kenya, the Philippines, and Mexico – to promote semiconductor supply chain development, security, and diversification.
    The Department of Commerce announced the Indo-Pacific Economic Framework for Prosperity (IPEF) Agreement Relating to Supply Chain Resilience with 13 diverse partner countries across the Indo-Pacific, led by the United States, to coordinate more resilient supply chains for semiconductors and other industries.
    Within the G7, the United States has championed efforts to bolster economic resilience and address harmful market distortions and global excess capacity in key sectors resulting from non-market policies and practices.   This led to the establishment of mechanisms to jointly monitor and respond to these detrimental practices, including in the semiconductor sector.  
    President Biden recognizes the benefits for our workers and businesses from strong alliances and a rules-based international trade system based on fair competition.  The Biden-Harris Administration will continue to collaborate with allies and partners on this critical issue in the coming days and weeks.  

    MIL OSI USA News –

  • MIL-OSI: Bitget Ranks Among Top 3 Crypto Exchanges for Futures Trading in November Report

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Dec. 23, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has shared its monthly transparency report highlighting the ecosystem’s strong performance in November 2024. The cryptomarket saw a sharp increase, with Bitcoin surging past $106,000. At Bitget, this ATH trend was replicated, with Bitget Token (BGB) rising from approximately $1.44 to $1.70, marking an increase of around 18%. This upward trend was driven by Bitget’s global expansion and significant growth in trading volumes, user engagement, and platform security, especially achieving the third position worldwide in global futures trading.

    Bitget retained over 45 million users with a daily trading volume of $10 billion, while USDT-M futures trading volume surged to $16 billion, and daily spot trading volume doubled, reaching $400 million. Its Protection Fund, growing impressively from $400 million+ to over $600 million, supports strong security and user trust on the platform.

    In November, Bitget’s top-performing spot tokens saw impressive growth, led by UNICE at 2666.71%. Additionally, 13 tokens were listed on Poolx, and 5 tokens among these were also featured in Pre-market listings, showcasing strong interest and dual exposure for these assets.

    Bitget hosted “Pitch n’ Slay” event in Bangkok. Under Bitget’s Blockchain4Her program, the competition provided exposure, capital and guidance for female entrepreneurs in the blockchain space and offered a chance to secure up to $100,000 in funding by Foresight Ventures. Pitch n’ Slay showcased the power of collaboration in creating inclusive pathways for women in blockchain, aligning with Bitget’s commitment to fostering a diverse and thriving blockchain ecosystem.

    Bitget introduced VND Bank Transfer in Vietnam. It enables users to deposit VND through VietQR and withdraw funds via bank transfers to purchase popular crypto such as BTC, ETH, USDT, SOL, and BGB through Bitget’s cash conversion feature.

    Bitget Wallet introduced a comprehensive memecoin trading toolkit, enabling users to discover high-potential tokens, analyze critical data, and trade seamlessly across multiple chains. Additionally, it launched the Refer2Earn Program, encouraging user growth through passive income, and a $20M Telegram Mini-App Support Program to empower developers and drive innovation in the Telegram ecosystem.

    Bitget’s strong performance shows it shines again as the top global players in the crypto industry. The company will keep focusing on innovation, user engagement, and market expansion in the rapidly evolving crypto sector, ongoingly bridging CeFi and DeFi, and expanding access to decentralized finance.

    For more information, please visit the monthly report here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.
    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/44eb3496-f2b3-4044-a147-b66820609d72

    The MIL Network –

  • MIL-OSI Economics: sante-Itd.com.co: BaFin investigates Sante Limited

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about the company Sante Limited and the services it is offering. BaFin has information that the company is offering banking business and/or financial services on its website sante-Itd.com.co without the required authorisation. The company is not supervised by BaFin.

    Banking business and financial services may only be offered in Germany with authorisation from BaFin. However, some companies offer these services without the required authorisation. Information on whether particular companies have been authorised by BaFin can be found in BaFin’s database of companies.

    The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics –

  • MIL-OSI: BTCC Exchange Celebrates OG Week 2 with Exclusive FLOKI AMA on X Spaces

    Source: GlobeNewswire (MIL-OSI)

    VILNIUS, Lithuania, Dec. 23, 2024 (GLOBE NEWSWIRE) — BTCC, one of the longest-standing cryptocurrency exchanges, recently hosted an engaging AMA (Ask Me Anything) session on X Spaces featuring FLOKI, one of the original meme coins in crypto.

    The AMA was part of BTCC’s “OG Week” campaign, where iconic long-term meme coins are spotlighted and celebrated. Pedro Vidal, Community Relations Officer for Floki and TokenFi Blockchain, joined the session to discuss FLOKI’s vision for 2024 and beyond.

    The AMA was a resounding success, with over 1,500 crypto enthusiasts tuning in to explore FLOKI’s journey, and check out some big developments landing this coming year. Anyone interested in listening back can check out the AMA here

    Highlights of the Discussion

    The AMA covered many points, and gave a deep insight into FLOKI’s history, position in the crypto market, and some exciting points for 2025:

    Topic 1 – FLOKI’s Inception

    Topic 1 covered FLOKI’s inception, and discussed how FLOKI was born from a tweet from Elon Musk in 2021. Though the coin initially suffered rug pulls from the team who initially launched the project, it has now become a community-led project.

    FLOKI is now governed by a DAO, leaving the ownership and direction of the token in the hands of the community. The DAO is important as it aligns closely with the current team’s focus on community feedback, utility and transparency, and dedication to the success of the project – and also to avoid the pitfalls from the initial launch of the coin.

    Topic 2 – FLOKIs Blockchain Gaming Platform

    Topic 2 focused on the big ticket success on FLOKI – Valhalla. The crypto household name game took the market by storm and features all the hallmarks of a global superstar – from an easy-to access, browser-based design, and global accessibility, everyone inside the FLOKI community is excited about the future of Valhalla.

    “The idea is to continue to improve and leave blockchain forever changed.”

    – Pedro Vidal, on Floki’s Valhalla Metaverse game

    Topic 3 – FLOKI Debit Card and Trading Bot

    Another hot topic on the agenda was the FLOKI debit card, which now offers crypto enthusiasts a way to spend their crypto across 8 different chains, with 0% transaction fees. The cards are available in both physical and virtual forms, which is another step toward FLOKI’s vision of a more financially enabled world, powered by memecoins.

    FLOKI have also released their Telegram trading bot, aiming to streamline the trading experience, all from inside users’ telegram accounts. The bot supports multiple chains and is live now!

    Topic 4 – 2025 and Beyond

    For 2025, Pedro emphasized the importance of staying true to the project’s values of transparency and utility, and managing and promoting growth were emphasized – however 2025 shapes up for FLOKI, the ecosystem looks set for a rapid expansion.

    FLOKI is available on BTCC for spot and futures trading. Up to 50x leverage is supported, and as one of the hottest meme coins on the platform, interest looks set to build for the coming season.

    BTCC OG Week

    To celebrate the OG meme coins that laid the foundations for the current cycle’s top gainers like DOGE, FLOKI, and PEPE, BTCC Exchange has announced the BTCC OG Week campaign, where meme fanatics can undertake social and trading tasks to win USDT rewards, with a prize pool of 300 USDT and 300 USDT in withdrawable rewards each week.

    Week 1, which saw BTC in the limelight has already concluded, and winners of the trading competition have already been announced on BTCC’s X page.

    BTCC continues its OG Week campaign with the featuring DOGE, and there’s plenty more amazing content to come.

    Going forward, BTCC have scheduled more AMAs and special features on other long-term meme coins. To stay updated on future campaigns and win exclusive rewards, follow BTCC’s X account.

    For additional information, visit BTCC’s website or follow BTCC and Floki on X.

    Media Contact Details
    Contact Name: Aaryn Ling
    Contact Email: press@btcc.com

    About BTCC

    BTCC is a long-standing crypto exchange with over 13 years experience in the crypto space, and 0 security breaches. BTCC makes crypto trading easier with user-centric features that are sure to suit the needs of novice and advanced traders alike, wherever they are in the world.

    Disclaimer: This content is provided by BTCC. 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/634ab0fe-7ecb-48c0-bc9d-f8c188a3fb50

    The MIL Network –

  • MIL-OSI: Enlight Announces the Financial Close for Project Roadrunner

    Source: GlobeNewswire (MIL-OSI)

    The debt financing package includes $550 million of construction loans

    Roadrunner consists of 290 MW of solar generation and 940 MWh of energy storage capacity, and is expected to reach full COD by the end of 2025

    TEL AVIV, Israel, Dec. 23, 2024 (GLOBE NEWSWIRE) — Enlight Renewable Energy Ltd. (“Enlight”, “the Company”, NASDAQ: ENLT, TASE: ENLT.TA), a leading global renewable energy platform, today announced that the Company has arranged the debt financing (the “Debt Financing”) for project Roadrunner (“Roadrunner” or “the Project”), located near Tuscon, Arizona, USA.

    As part of the Debt Financing, Enlight, through its subsidiary Clenera Holdings LLC, has entered into a loan agreement with a consortium of four leading global banks including BNP Paribas Securities Corp, Crédit Agricole, Natixis CIB, and Norddeutsche Landesbank Girozentrale (Nord/LB), totaling $550 million, which are expected to convert into a $290 million term loan and $320 million of tax equity funding upon the Project’s COD. The term loan is structured with an amortization tenor of 20-25 years and is to be fully repaid 5 years from the Project’s COD (mini perm). The loans are subject to an all-in interest rate of SOFR + 1.5%-1.75%, which rises by 0.125% after four years. Paragon Energy Capital served as Clenera’s exclusive financial advisor on the transaction.

    During the Project’s construction period, the Company’s equity investment is expected to amount to 10% of the expected total Project cost of $610 million. The debt financing arrangements are expected to enable the Company to recycle the entire equity investment upon COD subject to minimum project coverage ratios. The Company expects to conclude a tax equity transaction during 2025, noting that the project has secured safe harbor status.

    Roadrunner (also known as Apache Solar II) is the second-largest project in Enlight’s history, consists of 290 MW solar generation and 940 MWh of energy storage capacity, and is expected to reach full COD by the end of 2025. Construction at the 1200-acre site has already begun, and all procurement contracts have been signed. The Project has a 20-year busbar power purchase agreement covering its entire output with the Arizona Electric Power Cooperative (AEPCO), and is expected to generate revenues of $51-54 million and EBITDA1 of $41-44 million in its first full year of operation. A summary of the Project’s financial information appears in the tables below:

    (as expected at COD)

    Total project cost

    Term debt

    Upfront tax equity

    Sponsor equity upon COD
     

    $ 610 million

    $ 290 million

    $320 million

    $0
     

    Total project cost net of tax equity

    Revenues in first full year

    EBITDA in first full year1
     

    $ 290 million

    $51-54 million

    $41-44 million

    1EBITDA is a non-IFRS financial measure. This figure represents EBITDA for the project and excludes all ITC and PTC proceeds, as well as the impact of a potential tax equity transaction. The tax equity partner’s share is expected to range between 10-15% of the Project’s EBITDA during the first years of operation.

    Roadrunner is being built in the Sulphur Springs Valley region near Tucson, Arizona. Arizona possesses one of highest rates of growth in data centers in the U.S., driving a significant increase in the demand for electricity. The area’s high altitude, mild weather, and very high irradiance make it especially suitable for a utility-scale solar plant. The Project is located in a sparsely populated area and integrates with the larger Apache Generating Station, a diverse energy complex used by AEPCO.

    After the completion of Apex in Montana and Atrisco in New Mexico, Roadrunner is one of several major solar and energy storage projects that Enlight and Clenera are now constructing in the U.S. These include Country Acres (392 MW and 688 MWh) and Quail Ranch (128 MW and 400 MWh). Along with additional projects planned to be built in the years to come, these projects are driving Enlight’s massive expansion into the U.S. renewable energy market. This is best illustrated by the growing run rate of Enlight’s U.S. revenue base, which is expected to reach $195-207 million annually after the completion of the projects now under construction.

    The Company’s next projects in Arizona are Snowflake (600 MW and 1,900 MWh) and CO Bar (1,211 MW and 824 MWh). The two mega projects have almost completed their development phase, and are scheduled to begin construction in the coming months. Each of the two projects are set to achieve grid connection of 1.0 GW, one of the largest in the US. These grid connections generate potential additional development opportunities in the future through the Company’s “Connect and Expand” strategy, which seeks to leverage existing interconnect infrastructure with additional generation capacity.

    Nir Yehuda, CFO of Enlight, commented, “We appreciate our financial partners’ support and commitment in arranging the debt financing for project Roadrunner, which has made it possible for us to progress with its construction. Roadrunner is expected to begin commercial operation by the end of 2025. We look forward to continued collaboration on Country Acres and Quail Ranch, projects which we are now in the process of building and financing.”

    “We are grateful to have established our business as a reliable partner for these financial institutions,” said Adam Pishl, President and CEO of Clenera. “We have demonstrated our ability to build projects on time and on budget, and manage operational solar and storage farms that generate consistent long-term returns. It is exciting to close this deal and fuel our continued growth with projects across America.”

    Aashish Mohan, Co-Head of Energy, Resources & Infrastructure Americas, at BNP Paribas, commented, “BNP Paribas is proud to have supported Clenera and Enlight as Coordinating Lead Arranger on this landmark clean energy project financing. Supporting premier platforms like Clenera squarely fits our energy transition ambitions, and we look forward to partnering with the company again as they continue to execute on their high-quality pipeline.”

    Daniel Feigin, Head of Energy & Infrastructure Group, North America at Crédit Agricole CIB, said, “Crédit Agricole CIB’s collaboration with Enlight and Clenera on this landmark project in Arizona is a testament to the power of partnership and innovation. Roadrunner will provide clean, low-cost energy and storage. We are honored to have played a crucial role in helping a world class developer bringing this project to financial close and contributing to our mission of facilitating clean power generation and economic growth.”

    Nasir Khan, Managing Director & Head of Infrastructure & Energy Finance Americas at Natixis CIB, said, “We are thrilled to announce the successful close our first transaction with Enlight and Clenera, and would especially like to thank the teams for their professionalism and partnership over the past several months. Natixis CIB is committed to driving the energy transition through financing high-quality landmark projects such as Roadrunner, and we look forward to seeing it reach completion in the next year.”

    Sondra Martinez, Managing Director and Head of Originations at NORD/LB New York, commented, “Nord/LB is thrilled to support Clenera and Enlight on the Roadrunner transaction. This transaction represents our commitment to partnerships and supporting clients as they advance the energy transition.”

    About Enlight Renewable Energy

    Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, wind and energy storage. A global platform, Enlight operates in the United States, Israel and 10 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT) and completed its US IPO (NASDAQ: ENLT) in 2023. Learn more at enlightenergy.co.il.

    Investor Contact

    Yonah Weisz
    Director IR
    investors@enlightenergy.co.il

    Erica Mannion or Mike Funari
    Sapphire Investor Relations, LLC
    +1 617 542 6180
    investors@enlightenergy.co.il

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s expectations relating to the Project, the PPA and the related interconnection agreement and lease option, and the completion timeline for the Project, are forward-looking statements. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible,” “forecasts,” “aims” or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives for, or regulations mandating the use of, renewable energy; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, tariffs, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) and our other documents filed with or furnished to the SEC.

    These statements reflect management’s current expectations regarding future events and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as may be required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

    The MIL Network –

  • MIL-OSI: Hyperscale Data Enters into an Agreement for a Financing of up to $25 Million

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, Dec. 23, 2024 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), announced today that it has entered into a Securities Purchase Agreement (the “Agreement”) providing for up to $25 million of financing (the “Financing”) from Ault & Company, Inc., a related party (“A&C”). Pursuant to the Agreement, Hyperscale Data has agreed to issue and sell to A&C up to $25 million in shares of Series G Convertible Preferred Stock (the “Preferred Shares”). The Preferred Shares will be senior to all other classes of preferred stock the Company has outstanding except with respect to the Series C Convertible Preferred Stock (the “Series C Preferred Stock”), with which it ranks in parity, as well as senior to the Company’s Class A common stock (“Common Stock”).

    Each Preferred Share shall have a stated value of $1,000.00 per share and, upon stockholder approval, shall be convertible at the holder’s option into shares of Common Stock at a conversion price equal to the greater of (i) $0.10 per share (the “Floor Price”), which Floor Price shall not, except for voting rights purposes, be adjusted for stock dividends, stock splits, stock combinations and other similar transactions and (ii) the lesser of (A) $6.74, or (B) a 5% premium to the closing sale price of the Common stock on the day immediately prior to the date of conversion (the “Conversion Price”). The Conversion Price will be subject to standard anti-dilution provisions in connection with any stock split, stock dividend, subdivision or similar reclassification of the Common Stock. The Preferred Stock also has “full ratchet” price protection in the event the Company should issue securities at a lower price than the Conversion Price. The Preferred Stock shall pay a dividend at an annual rate of 9.5%, which the Company may, during the first two years, pay in shares of Common Stock.

    Further, A&C will receive warrants (“Warrants”) to purchase up to approximately 4.25 million shares of Common Stock, presuming that the full amount of the Preferred Shares is sold, exercisable for five years at $5.92 per share, subject to adjustment.

    The proceeds from the Financing will be used for expansion of the MI data center to support infrastructure upgrades necessary to support the growing demands of high-performance computing services powering Artificial Intelligence solutions, repayment of outstanding indebtedness and general working capital purposes.

    “The conversion price of the Preferred Shares is nearly a 25% premium over the current market price. That A&C is willing to invest an additional up to $25 million, beyond the $75 million in shares of a virtually identical series of preferred stock, the Series C Preferred Stock of which it has already purchased approximately $50 million, on those terms should be a clear indicator of our belief that the market has been undervaluing the Company, which I’ve been highlighting for years. This transaction is more than a number—it’s a declaration of my steadfast confidence in our data centers, the crane company, the lending firm, and the exceptional portfolio companies we’ve nurtured over the past seven years. Each is a vital component of our collective success,” said Milton “Todd” Ault III, Executive Chairman of Hyperscale Data and Chairman & CEO of A&C.

    The Agreement provides for several closings through December 31, 2025, though such dates may be extended by A&C as set forth in the Agreement. The consummation of the transactions contemplated by the Agreement, specifically the conversion of the Preferred Shares and the exercise of the Warrants in an aggregate number in excess of 19.99% on the execution date of the Agreement, are subject to various customary closing conditions as well as regulatory and stockholder approval. In addition to customary closing conditions, the closing of the Financing is also conditioned upon the receipt by A&C of financing to consummate the transaction.

    Additional information regarding the securities described above and the terms of the Financing will be included in a Current Report on Form 8-K to be filed with the United States Securities and Exchange Commission (“SEC”).

    The Preferred Shares and Warrants will be issued in reliance upon the exemption from the securities registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”) as promulgated by SEC under the Securities Act.

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

    For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

    About Hyperscale Data, Inc.

    Hyperscale Data is transitioning from a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact to becoming solely an owner and operator of data centers to support high performance computing services. Through its wholly and majority-owned subsidiaries and strategic investments, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides, through its wholly owned subsidiary, Ault Capital Group, Inc., mission-critical products that support a diverse range of industries, including an artificial intelligence software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, Hyperscale Data is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

    Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.hyperscaledata.com.

    Hyperscale Data Investor Contact:
    IR@hyperscaledata.com or 1-888-753-2235

    The MIL Network –

  • MIL-OSI: Bitget Partners with Fiat24 to Advance PayFi Solutions for Crypto

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Dec. 23, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced a strategic partnership with Fiat24, a Swiss-regulated fintech company that develops modern banking solutions powered by blockchain technology. The collaboration focuses on exploring PayFi solutions for major cryptos like Ethereum (ETH) and Bitget Token (BGB), as well as stablecoins such as USD Coin (USDC). This initiative aims to provide seamless, efficient, and secure payment solutions that bridge traditional and decentralized financial ecosystems.

    Bitget has recently made significant progress in the PayFi space with the launch of services such as Bitget Pay and Bitget Card. Bitget Pay enables low-fee, instant crypto payments, while the Bitget Card allows users to seamlessly convert crypto into fiat for real-world transactions using a globally accepted debit card.

    Fiat24, on the other hand, offers a regulated Swiss-based payment system to users across 65 countries and regions, providing access to a crypto-friendly Swiss offshore bank account paired with a Mastercard debit card. This blockchain-driven approach ensures transparency, security, and user ownership.

    The partnership between Bitget and Fiat24 combines Bitget’s comprehensive crypto ecosystem with Fiat24’s innovative infrastructure. Together, they aim to expand the use cases for ETH, BGB, and stablecoins, driving accessibility and adoption of PayFi solutions globally.

    “We are excited to collaborate with Fiat24 to advance crypto payments and simplify access to financial services for users worldwide, especially the unbanked,” said Gracy Chen, CEO at Bitget. “PayFi will be one of Bitget and BGB’s long-term strategies and a key approach to enhancing the real-world impact of crypto assets. Together with our partners, we envision a future where crypto payments become the norm.”

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e693ef7b-cac1-4f78-9c91-fcb74f563615

    The MIL Network –

  • MIL-OSI USA: Facilities for Family Entertainment Reconstructed with FEMA Funds

    Source: US Federal Emergency Management Agency

    Headline: Facilities for Family Entertainment Reconstructed with FEMA Funds

    Facilities for Family Entertainment Reconstructed with FEMA Funds

    Guaynabo, PUERTO RICO — To have family entertainment spaces where people can enjoy safe places to gather, especially during the holiday season, is part of Puerto Rico’s integral recovery. That’s why the Federal Emergency Management Agency (FEMA) obligated $3.1 million to repair the Southern Coast Boardwalk in Juana Díaz, and the floating dock and gazebos in Ceiba.“These recreational areas provide spaces for families to share. They benefit their residents as well as all local and international visitors who enjoy their cultural and gastronomic offering, in addition to promoting the economy of the municipalities,” said Federal Disaster Recovery Coordinator José Baquero.According to Carimelys Alvarado, the Culture, Arts and Tourism director for the municipality of Juana Díaz, the boardwalk located in the Camboya community has great tourist value, as well as merchants and fisherfolk who contribute directly to economic development. Besides having gastronomic alternatives, they also host musical and family events. The boardwalk was established in 2000 and it welcomes up to 500 people during the weekends.“This is one of our great contributions to the economy, culture and tourism. As natives from Juana Díaz, this project was like a diamond for us. I remember the inauguration, when we got goosebumps because our coast is so important. This project marks an emphasis on our economic development,” Alvarado said.For the merchants, the repairs have meant receiving more customers, encouraged by how beautiful the facilities are now. This was confirmed by business owner Rubén Figueroa Ortiz. “This boardwalk repair has benefited us a lot, especially the businesses. Now we have a higher attendance. I am the oldest merchant here, with many years of service, and I feel very proud to have this opportunity right now,” he added.Some of the already completed repairs with an allocation of nearly $2.9 million include the replacement of aluminum panels, repairs to the asphalt surface, concrete piers and sidewalks, exterior electrical outlets, lighting fixtures and stairs, and the installation of a concrete retaining wall in the waterfront boardwalk area.Mitigation measures were carried out with nearly $937,000 within the same allocation. For example, a geotextile filter fabric was added to prevent internal erosion; the piles were reinforced to make them resistant to strong waves and protect them from corrosion; and the wooden decking was replaced with PVC to increase its durability.The director of the Juana Díaz Recovery Office, José Plata, said that this project is one of the most important that the municipality has been able to complete after the impact of the hurricanes, “especially for the community, as part of its culture and traditions.”On the other hand, in Ceiba, the dock and the gazebos located at the Villa Pesquera on Los Machos Beach offer a sustainable alternative to maximize space for fisherfolk without damaging marine ecosystems, according to the director of the Municipal Office of Emergency Management, Eddie García.“Its innovative design allows it to adapt to the water level, reducing the environmental impact. In addition, it combines aquatic activities with a perfect setting for social and cultural events. You can enjoy a restaurant and kiosks with fresh seafood, typical Puerto Rican food and live music, as well as kayaking, paddleboarding and recreational fishing,” García added.The high-density plastic floating dock built in 2015 extends into the ocean and receives between 75 and 500 visitors per week. Both were severely damaged and dismantled by high winds and storm surge during Hurricane María.With an obligation of nearly $226,000, the municipality has already completed repairs to the pier and the 16 wooden gazebos in front of the beach ―dated from 1995― are in the planning phase. Part of the work included the replacement of the pier, the access and the replacement of the gazebos’ bases and roofs. As part of the hazard mitigation measures, the gazebos will be reinforced with anticyclonic anchoring and additional anchoring for the roofs at a cost of nearly $2,000.One of its regular visitors is Ana López, who uses the dock ramp for her boat. López describes it as “a meeting point for the fishing community and a unique tourist attraction that promotes the responsible enjoyment of natural resources, while strengthening the area’s cultural and economic identity.”Meanwhile, the executive director of the Central Office for Recovery, Reconstruction and Resiliency (COR3), Manuel A. Laboy Rivera, said that “recreational and sports facilities are an important element in the communities, as they promote the training of our athletes and foster the economic development of various sectors. These projects in Juana Díaz and Ceiba are in addition to another 1,236 works with investments totaling $446.6 million that are under construction in the 78 municipalities. Meanwhile, citizens already enjoy 970 completed works around the island representing $187.5 million. We reaffirm our commitment to continue assisting them in the execution of another 832 recreational facilities that are in the design or construction acquisition stage.”FEMA has allocated over $34.5 billion for Puerto Rico’s recovery from Hurricane María. Of this total funding, about $1.4 billion are earmarked for nearly 2,200 park and recreational facility projects throughout the island. For more information about Puerto Rico’s recovery,  visit fema.gov/disaster/4339, fema.gov/disaster/4473 and recovery.pr. Follow us on our social media at Facebook.com/FEMAPuertoRico, Facebook.com/COR3pr and Twitter @COR3pr.
    manuel.deleon
    Mon, 12/23/2024 – 11:33

    MIL OSI USA News –

  • MIL-OSI: Partners Value Investments L.P. Announces Renewal of Normal Course Issuer Bids

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Dec. 23, 2024 (GLOBE NEWSWIRE) — Partners Value Investments L.P. (the “Partnership”) (TSX VENTURE: PVF) announced today that it has received approval from the TSX Venture Exchange (the “Exchange”) to renew its normal course issuer bids to purchase up to 3,521,732 of its non‐voting equity limited partnership units (the “Equity LP Units”), representing approximately 5% of its currently outstanding Equity LP Units; and to purchase up to 938,226 of its non‐voting Class A preferred limited partnership units, Series 1 (the “Preferred LP Units”), representing approximately 5% of its currently outstanding Preferred LP Units (collectively, the “Bids”). The period of the Bids will be effective from January 3, 2025 to January 2, 2026, or such earlier date that the Partnership completes its purchases.

    Purchases by the Partnership pursuant to the Bids will be made by its broker, RBC Capital Markets, through the facilities of the Exchange, other designated exchanges and alternative trading systems in Canada. The price which the Partnership will pay for any Equity LP Units and Preferred LP Units purchased will be the market price of the Equity LP Units and Preferred LP Units at the time of acquisition. Any Equity LP Units and/or Preferred LP Units acquired through the Bids will be cancelled. As of December 13, 2024, there were 70,434,631 Equity LP Units outstanding and 18,764,512 Preferred LP Units outstanding.

    Of the 3,533,556 Equity LP units and 938,350 Preferred LP Units approved for purchase under the Partnership’s prior normal course issuer bids that commenced on January 3, 2024 and will be expiring on January 2, 2025, the Partnership purchased 278,324 Equity LP Units at an average price of $102.02 and did not make any purchase of Preferred LP Units through the facilities of the Exchange, other designated exchanges or an alternative trading system in Canada.

    The Partnership believes that, from time to time, the market price of its securities may not adequately reflect their value. In such circumstances, the Partnership believes the purchase of its outstanding securities may represent an appropriate and desirable use of its available funds. All Equity LP Units and Preferred LP Units acquired by the Partnership under the Bids will be cancelled.

    In connection with the Bids, the Partnership entered into an automatic purchase plan with its designated broker, RBC Capital Markets. The automatic purchase plan will allow for the purchase of Equity LP Units and Preferred LP Units when the Partnership would not ordinarily be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Outside of these periods, Equity LP Units and Preferred LP Units will be repurchased in accordance with management’s discretion and in compliance with applicable law.

    For further information, contact Investor Relations at ir@pvii.ca or 416-643-7621.

    Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. Expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward- looking information and forward-looking statements.

    Although the Partnership believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Partnership to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation and Brookfield Asset Management Ltd., the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws, catastrophic events, such as earthquakes, hurricanes, or pandemics/epidemics; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Partnership’s documents filed with the securities regulators in Canada.

    The Partnership cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Partnership’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Partnership undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.

    The MIL Network –

  • MIL-OSI Economics: CDB at COP 29

    Source: Caribbean Development Bank

    The Caribbean needs urgent, scaled-up climate action focused on resilience, adaptation, and sustainable development. At COP 29 in Baku, Azerbaijan, CDB will advocate for greater global support and action.

    Key messages include the need for increased climate finance through a New Collective Quantified Goal, focusing on Small Island Developing States and urging international collaboration on sustainable, climate-resilient development. CDB’s initiatives, such as climate-proofed infrastructure projects, renewable energy investments, and support for climate-smart agriculture, underscore the critical role of enhanced funding and capacity-building in transforming Caribbean economies toward sustainability.

    During the two-week event, held from November 11 to 22, 2024, members of the CDB delegation will participate in dialogues with partners and stakeholders who can make a significant difference in the thrust to modify the global financial architecture to ensure small developing states, such as CDB’s Borrowing Member Countries, receive the support needed to survive this growing scourge.

    MIL OSI Economics –

  • MIL-OSI Economics: The Caribbean: Catapulting through Climate Change yet Breaking the Fall

    Source: Caribbean Development Bank

    The Caribbean faces severe climate change impacts now, despite its minuscule contributions to global emissions. The international community must act urgently to provide robust climate finance to break the cycle of disaster and recovery. 

    With united efforts, innovative solutions, and a commitment to climate justice, the region can achieve sustainable resilience. Learn more about the steps we need to take – our future depends on it.

    Read the by , President (Ag.), Caribbean Development Bank, and published by the ahead of COP29.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Goods Yard hits targets to boost local economy weeks ahead of opening

    Source: City of Stoke-on-Trent

    A flagship regeneration project in Stoke-on-Trent is already having a major impact on the local economy with job opportunities secured for almost 200 people.

    Social impact developers Capital&Centric are working in partnership with Stoke-on-Trent City Council to develop Goods Yard.

    The former train station site, which was neglected for many years, is being transformed into a vibrant canalside neighbourhood boasting 174 brand new homes for rent and 30,000 sq ft of commercial space which will be used for leisure, retail and workspace.

    Already, the development – which is on track for completion in spring 2025 – has added £63 million to the local economy and created job opportunities for 190 workers from the area – 107 of which are local to Stoke-on-Trent.

    Down the line there will be even more opportunities created at Goods Yard with approximately 237 local jobs set to be created in leisure and hospitality and an estimated annual employment impact of £5.4 million.

    It is all part of a joint mission by Capital&Centric and the council to deliver positive social value from the regeneration project.

    Since starting on site contractors Bowmer + Kirkland have engaged with nearly 3,000 students from schools and colleges across Stoke-on-Trent, highlighting a range of careers in the construction industry.

    Ajmal Muhammed from Stoke-on-Trent College successfully completed a placement with B+K and has since been accepted onto a degree apprenticeship programme as a trainee quantity surveyor.

    Ajmal was given the opportunity to work at Goods Yard after attending Capital&Centric’s Regeneration Brainery event, a pioneering initiative which aims to get more diverse young people into property careers.

    Ajmal, who lives in Tunstall, said: “I was offered an apprenticeship with B+K after smashing my interview and getting the results I needed from college, I got a distinction star and two distinctions.

    “I’ve been here a few months now and my favourite part of the site is The Vaults, I’ve just never seen anything like it before it’s really interesting.

    “I will be helping to finish the Goods Yard which is really exciting, then once it’s complete I’ll be moving onto another B+K project. I have just started at Salford University too where I am working towards becoming a Chartered Surveyor.”

    Councillor Finlay Gordon-McCusker, cabinet member for transport, infrastructure and regeneration at Stoke-on-Trent City Council, said: “Ajmal is really enthusiastic about being able to work on this landmark development, and it is great that he has been given the opportunity to hone his skills on a major regeneration project in his home city.

    “Goods Yard is a first-of-its-kind scheme for Stoke-on-Trent but it’s far greater than bricks and mortar. It’s great to see the social benefits coming to fruition with a number of successful apprenticeships and local people employed during construction.

    “We’re very pleased to be working with Capital&Centric and B+K who both prioritise local impact. We’ll also see many more jobs and opportunities once Goods Yard is complete next year, making a real difference to people and the local economy.”

    Tom Wilmot, joint managing director at Capital&Centric, said: “Regeneration is not just about creating new spaces for people to live, work and hang out. Making sure the benefits are felt locally is just as important and takes time and effort.

    “From the apprentices on site to the work we’ve done with young people through Regeneration Brainery we’ve made sure social value sits at the heart of the development.”

    Mona Baig, social value co-ordinator at Bowmer + Kirkland said: “We are pleased to have achieved our social value targets on the Goods Yard project. Engaging positively within the community is of utmost importance to us.

    “Stoke-on-Trent offers a wide range of diverse talents for which we have been happy to provide and facilitate opportunities for on this major local project.

    “We hope our continued engagement with job seekers, young people and local charities within the Stoke-on-Trent and Staffordshire area will create a long-term positive impact to the local community. With thanks to our supply chain partners, we look forward to continuing our support within the local area.”

    MIL OSI United Kingdom –