NewzIntel.com

Category: Economy

  • MIL-OSI: Revolutionize Your Crypto Trades: BexBack Offers Double Deposit Bonus and 100x Leverage Crypto Trading No KYC

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, Dec. 23, 2024 (GLOBE NEWSWIRE) — As Bitcoin’s price recently surged past the $100,000 milestone only to dip below this critical level, market volatility has reached new highs. Analysts predict that Bitcoin may be entering a prolonged phase of high volatility. In such a dynamic environment, holding spot positions alone may no longer yield consistent short-term profits. To empower traders in seizing these market opportunities, BexBack Exchange has launched a suite of enticing offers:

    • 100% Deposit Bonus
    • $50 Welcome Bonus for New Users
    • Up to 100x Leverage for Cryptocurrency Trading

    These offers create unmatched profit potential for crypto investors while providing an edge in navigating volatile markets.

    What Is 100x Leverage and How Does It Work?

    100x leverage allows traders to amplify their positions with minimal capital. For instance:

    • If Bitcoin is priced at $90,000 and a trader opens a long contract with 1 BTC, using 100x leverage equates to a transaction value of 100 BTC.
    • If the price increases to $99,000 the next day, the profit will be calculated as:
      (99,000 – 90,000) * 100 BTC / 90,000 = 10 BTC, resulting in a remarkable 1000% yield.

    When combined with BexBack’s 100% deposit bonus, the potential profit can double, offering even higher returns.

    Note: While leveraged trading magnifies profits, it also increases liquidation risks.

    How Does the 100% Deposit Bonus Work?

    BexBack’s deposit bonus is designed to enhance traders’ potential. While the bonus cannot be withdrawn directly, it can be used to open larger positions or as extra margin during significant market fluctuations, effectively reducing the risk of liquidation.

    About BexBack

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

    Key features include:

    • No KYC Requirement: Trade instantly without cumbersome identity verification.
    • 100% Deposit Bonus: Double your funds and amplify your profits.
    • High-Leverage Trading: Maximize capital efficiency with up to 100x leverage.
    • Demo Account: Practice risk-free trading with 10 BTC in virtual funds.
    • Comprehensive Trading Options: Enjoy feature-rich trading on both Web and mobile platforms.
    • Convenient Operations: Experience no slippage, no spread, and fast, accurate trade execution.
    • 24/7 Global Support: Benefit from around-the-clock customer service.
    • Lucrative Affiliate Rewards: Earn up to 50% commission as a promoter.

    Take Action Now—Don’t Miss This Opportunity!

    If you missed the previous crypto bull run, now is your chance to capitalize on the market’s momentum. With BexBack’s 100x leverage, 100% deposit bonus, and $50 bonus for new users (available upon completing one trade within a week of registration), traders can position themselves for success in the next bull run.

    Sign up on www.bexback.com today, claim your exclusive bonus, and start accumulating more BTC!

    Media Contact
    Business Team
    Email: business@bexback.com
    Website: www.bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/7ff2bd9f-7765-448d-b96a-401885758143

    https://www.globenewswire.com/NewsRoom/AttachmentNg/3e87d43e-f245-47bb-a008-1b08b56e0a6b

    https://www.globenewswire.com/NewsRoom/AttachmentNg/12135f1b-04cc-403c-a06a-57694a16c7fb

    https://www.globenewswire.com/NewsRoom/AttachmentNg/84e6fc2d-66a7-4f13-9b88-b95baf95b6ad

    The MIL Network –

  • MIL-OSI Economics: Quality remains top priority for parents in purchasing baby care products in APAC, says GlobalData

    Source: GlobalData

    Quality remains top priority for parents in purchasing baby care products in APAC, says GlobalData

    Posted in Consumer

    Growth in the Asia-Pacific (APAC) region is projected to slow over the next few years, impacted by an ageing population, trade tensions, and greater policy uncertainty. However, parents’ focus on the quality of ingredients used in baby care and childcare products remains high despite concerns over their financial situation.  Aligning with this,  37% of respondents stated that high quality products/ingredients mean good value for money to them when purchasing baby care and child care products*, says GlobalData, a leading data and analytics company.

    Mohammed Masiuddin Shajie, Lead Consumer Analyst at GlobalData, comments: “Consumers in the APAC region remain concerned about their financial situation. In a GlobalData consumer survey*, 55% of respondents in APAC stated that they are either extremely or quite concerned about their personal financial situation. Moreover, in the same survey, 44% of the respondents said that they are switching to cheaper brand alternatives, and 35% stated that they are switching to cheaper stores/cheaper outlets to cope with rising prices in general.”

    Deepak Nautiyal, Consumer and Retail Commercial Director, APAC and ME, notes: “Although APAC has remained a key driver of the global economy, growth in the region is forecast to dip marginally in the medium term, according to the World Economic Forum’s latest Executive Opinion Survey. A slowing economy and the impact of inflationary pressures will influence the growth across major economies in the region. Although consumers are cutting down on their household expenses, parents remain concerned about the quality of ingredients used in their baby care products.”

    Shajie concludes: “Quality of product tops the priority list for parents while purchasing baby care products. However, products that are competitively priced will attract more consumers. This is substantiated by a GlobalData survey*, in which 19% of the respondents stated that they are switching to cheaper brands to save money, while purchasing baby care and childcare products. In the same survey, 14% said that they are switching to cheaper alternatives within the same brand. This is creating opportunities for affordable baby care products with high-quality ingredients. Brands meeting these expectations will earn the trust and loyalty of parents.”

    *GlobalData 2024 Q3 Consumer Survey – Asia & Australasia, with 6,471 respondents

    MIL OSI Economics –

  • MIL-OSI: TeraWulf to Deliver over 70 MW of Data Center Infrastructure for G42’s US Operations

    Source: GlobeNewswire (MIL-OSI)

    Core42, a Subsidiary of G42, will utilize the facility to expand its industry-leading AI Infrastructure offerings tailored to US customers

    Strategic Expansion of TeraWulf’s Platform into AI-Driven HPC Hosting, Complementing Profitable Bitcoin Mining Operations

    Management to Host Conference Call and Live Audio Webcast at 8:00 a.m. Eastern Time Today

    EASTON, Md., Dec. 23, 2024 (GLOBE NEWSWIRE) — TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner and operator of vertically integrated, next-generation digital infrastructure powered by predominantly zero-carbon energy, today announced the signing of long-term data center lease agreements with Core42, a G42 company specializing in sovereign cloud, AI infrastructure, and digital services.

    Under the data center lease agreements, TeraWulf will deliver over 70 megawatts (MW)1 of turn-key data center infrastructure to host Core42’s deployment at the Lake Mariner facility in Upstate New York. The infrastructure will be released for production in phases between Q1 and Q3 2025.

    TeraWulf will customize the data halls to support Core42’s GPU clusters, which will feature state-of-the-art Dell Integrated Rack Scalable Solutions, the Dell IR5000. These integrated racks include direct liquid cooled Dell PowerEdge XE9680L GPU servers and will come online in phases.

    The data center leases reflect TeraWulf’s strategic extension into AI-driven computing, complementing its profitable Bitcoin mining operations and aligning with the Company’s mission to leverage scalable, sustainable energy to power the digital economy.

    Leadership Commentary

    “Our strategic relationship with G42, and most specifically with Core42, positions TeraWulf at the intersection of two of today’s most transformative computational networks: AI compute and Bitcoin mining,” said Paul Prager, Chief Executive Officer of TeraWulf. “The surging demand for scalable, energy-efficient infrastructure presents a tremendous opportunity. Our ability to rapidly deliver customized, predominantly zero-carbon-powered solutions solidifies our position as a leader in the digital infrastructure space. This agreement not only diversifies our revenue streams but also significantly enhances our long-term earnings potential.”

    Nazar Khan, Chief Technology Officer of TeraWulf, emphasized the strength of the collaboration by remarking, “Core42’s entrepreneurial vision and impressive growth trajectory make them an exceptional partner. Together, we are uniquely equipped to meet the growing demand for AI-driven computing solutions.”

    “TeraWulf’s Lake Mariner facility represents an ideal match for Core42’s expanding next-generation digital infrastructure in North America,” said Edmondo Orlotti, Chief Growth Officer of Core42. “The facility’s access to predominantly zero-carbon power, combined with TeraWulf’s demonstrated ability to rapidly deploy customized data center solutions, aligns perfectly with our commitment to sustainable, high-performance AI compute infrastructure.” 

    Arthur Lewis, President of the Infrastructure Solutions Group at Dell Technologies commented: “Dell Technologies is committed to empowering organizations of all types with tools like the Dell AI Factory to thrive in a data-driven world. With TeraWulf and Core42, we’re delivering industry-leading, liquid-cooled server solutions that enable scalable, sustainable data center infrastructure, accelerating AI innovation across industries.”

    Financial Highlights

    The data center leases include two five-year renewal options, providing a long-term, stable, high-margin revenue stream for TeraWulf. Additionally, the data center lease agreements include provisions for expanding near-term hosting capacity for Core42 by an additional 135 MW gross, which is equivalent to 108 MW of critical IT load, underscoring the potential for future scalability and revenue growth.

    Advisors

    TeraWulf is being advised by JP Morgan and Morgan Stanley as financial advisors and Milbank LLP and Stutzman, Bromberg, Esserman & Plifka, P.C. as legal advisors.

    Conference Call and Webcast Details

    TeraWulf will host a conference call to discuss the partnership with Core42. Hosting the call and webcast will be Paul Prager, Chief Executive Officer, Nazar Khan, Chief Technology Officer, Patrick Fleury, Chief Financial Officer, Kerri Langlais, Chief Strategy Officer, and John Larkin, Director of Investor Relations.

    Date: December 23, 2024
    Time: 8:00 a.m. Eastern Time
    Participant Dial-In: 1-877-407-0789 or 1-201-689-8562

    Investors are invited to submit questions ahead of the call to info@terawulf.com. The management team will address as many questions as possible during the live call.

    All interested parties may also access a live webcast of the event at www.investors.terawulf.com, under the “News and Events” tab, or by using the following link:

    https://viavid.webcasts.com/starthere.jsp?ei=1702352&tp_key=2f26f643b7

    For those unable to participate during the live webcast, a replay will be available at www.investors.terawulf.com.

    All questions pertaining to G42 can be addressed to media@g42.ai.

    All questions pertaining to Core42 can be addressed to communications@core42.ai.

    About TeraWulf

    TeraWulf develops, owns, and operates environmentally sustainable, next-generation data center infrastructure in the United States, specifically designed for Bitcoin mining and hosting HPC workloads. Led by a team of seasoned energy entrepreneurs, the Company owns and operates the Lake Mariner facility situated on the expansive site of a now retired coal plant in Western New York. Currently, TeraWulf generates revenue primarily through Bitcoin mining, leveraging predominantly zero-carbon energy sources, including hydroelectric and nuclear power. Committed to environmental, social, and governance (ESG) principles that align with its business objectives, TeraWulf aims to deliver industry-leading economics in mining and data center operations at an industrial scale.

    About Core42

    Core42, a G42 company, empowers individuals, enterprises, and nations to unlock the full potential of AI through its comprehensive enablement capabilities. As a leading provider of sovereign cloud, AI infrastructure, and services, our mission is to accelerate the achievements of others and help them reach their most ambitious goals.

    To learn more, please visit www.core42.ai and follow Core42 LinkedIn, Core42 Instagram, Core42 X.

    About G42

    G42 is a global leader in creating visionary artificial intelligence capabilities for a better tomorrow. Born in Abu Dhabi and operating around the world, G42 champions AI as a powerful force for good. Its people are constantly reimagining what technology can do, applying advanced thinking and innovation to accelerate progress and tackle society’s most pressing problems.

    G42 is joining forces with nations, corporations and individuals to create the infrastructure for tomorrow’s world. From molecular biology to space exploration and everything in between, G42 realizes exponential possibilities, today.

    For further information visit www.g42.ai.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (3) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining, and/or regulation regarding safety, health, environmental and other matters, which could require significant expenditures; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) adverse geopolitical or economic conditions, including a high inflationary environment; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (10) employment workforce factors, including the loss of key employees; (11) litigation relating to TeraWulf and/or its business; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.

    Investors:
    Investors@terawulf.com 

    Media:
    media@terawulf.com 

    ____________________________
    1     Represents gross capacity. Critical IT capacity is as follows: 2 MW for the Wulf Den, 16 MW for CB-1, and 42 MW for CB-2.

    The MIL Network –

  • MIL-OSI: Matador Adds Bitcoin to its Balance Sheet

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Dec. 23, 2024 (GLOBE NEWSWIRE) — Matador Technologies Inc. (“Matador” or the “Company”) (TSXV: MATA) is proud to announce that its Board of Directors has unanimously approved adding Bitcoin and USD-denominated assets to its corporate treasury as part of its long-term capital preservation strategy.

    The Board has identified risks associated with its current treasury, which is primarily denominated in Canadian dollars. Canada’s reliance on oil exports and its rising national debt raise concerns about potential devaluation and loss of purchasing power for Canadian denominated assets. To address these risks, the Board has approved adding Bitcoin and USD-denominated assets to its corporate treasury.1

    Matador plans to front-load an initial allocation of $4.5 million into Bitcoin in the month of December 2024 and will continue to explore additional purchases at the board level via measured buying programs.

    Additionally, Matador plans to move the majority of its cash balance sheet from CAD to USD. The decision reflects Matador’s belief in Bitcoin’s role as a store of value asset that mitigates the downside risk of currency debasement. This move follows global trends, as institutional adoption of Bitcoin grows among corporations seeking alternatives to bonds and depreciating currencies.2

    “Matador’s Board and management believe in using Bitcoin to future-proof our treasury,” Sunny Ray, President of Matador, added. “This step also supports our mission to explore using Bitcoin as a platform for our gold-based products.”

    This move will continue to support the development and launch of Matador’s digital gold platform, which is a technology-based system that enables users to own, trade, and store digital representations of gold, backed by physical reserves with the physical gold being held at the Royal Canadian Mint. These holdings are expected to underpin the company’s product development efforts and reinforce confidence in the Company’s treasury management strategy. After an initial review of alternative platforms, including Ethereum and Solana, the Board believes that Bitcoin stands apart in its ability to deliver the security, stability, and trustworthiness required for a digital gold asset platform. Bitcoin’s deep liquidity and widespread institutional adoption further support the belief that Bitcoin is the ideal foundation for Matador’s vision of a trustworthy, digital gold platform.3

    “For Matador’s focus on creating a product that exemplifies trust, permanence, and value, we expect Bitcoin to be the platform of choice,” said Deven Soni, CEO and Chairman of Matador.

    The Board will further evaluate its technology platform alternatives in the near future, with the objective of making a decision on which technology platform will underpin its digital gold product in Q1 2025. Once a decision has been made, Matador intends on launching its digital gold product to a limited audience.

    Matador will continue to update shareholders regarding its treasury execution and custody strategy in the coming weeks.

    About Matador Technologies Inc.

    Matador Technologies Inc. is a digital gold platform leveraging blockchain technology to digitize real-world assets like gold. Focused on building innovative financial solutions, Matador is at the forefront of integrating blockchain technology to preserve and grow value. It’s digital gold platform aims to democratize the gold buying experience, combining the best of modern technology and time-proven assets, to create an app that will allow users to buy, sell, and store gold 24/7, with the added security and flexibility of an encrypted mobile application.

    Contact Information:

    Sunny Ray
    President
    sunny@matador.network
    647-932-2668

    Cautionary Statement Regarding Forward-Looking Information

    NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

    Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including risks associated with the implementation of the Company’s treasury management strategy and the launch of its mobile application as currently proposed or at all. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including with respect to the potential acquisition of Bitcoin and/or US dollars, the pricing of such acquisitions and the timing of future operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

    _________________________
    1 https://www.ceicdata.com/en/indicator/canada/crude-oil-exports?utm_source=chatgpt.com, https://www.reuters.com/world/americas/canada-overshoots-deficit-target-by-c20-billion-finance-minister-resigns-2024-12-16/?utm_source=chatgpt.com.
    2 https://kensoninvestments.com/knowledge-centre/bitcoin-and-institutional-adoption-trends-and-strategic-insights/?utm_source=chatgpt.com, https://www.reuters.com/markets/us/blackrock-recommends-bitcoin-portfolio-weighting-up-2-interested-investors-2024-12-12/, https://www.forbes.com/sites/digital-assets/2024/12/08/us-treasury-names-bitcoin-digital-gold-after-price-explosion/, https://www.finivi.com/bitcoin-mainstream-blackrocks-pivotal-role-institutional-adoption/, https://www.fidelitydigitalassets.com/research-and-insights/institutional-adoption-digital-assets.
    3 https://coinmarketcap.com/currencies/bitcoin/.

    The MIL Network –

  • MIL-OSI: Dominican Republic: A Strategic Destination Attracting Multimillion-Dollar Investments

    Source: GlobeNewswire (MIL-OSI)

    SANTO DOMINGO, Dominican Republic, Dec. 20, 2024 (GLOBE NEWSWIRE) — The Dominican Republic continues to consolidate itself as a strategic destination for foreign investment, standing out for its highly skilled human talent, favorable business climate, and geographical proximity to the United States. These factors, combined with tax incentives and a modern free trade zone ecosystem, have turned the country into a magnet for important multinational companies.

    A clear example of this confidence can be seen in the recent financial operations of major global companies, including operations in the Dominican Republic. Medical technology giants Edwards Lifesciences and Becton Dickinson (BD) completed a US$4.2 billion transaction. Meanwhile, Ecolab completed the sale of its global surgical solutions unit to Medline in a transaction valued at approximately US$950 million, including most of its current operations in the Dominican Republic, highlighting the country’s attractiveness as a strategic center for manufacturing and services.

    A Media Snippet accompanying this announcement is available by clicking on this link.

    BD’s acquisition of the Critical Care division of Edwards Lifesciences reflects its interest in expanding its global portfolio and strengthening its production capacity, taking advantage of the competitive advantages offered by the Dominican Republic, such as political and economic stability, a solid legal framework, attractive tax incentives, first-rate logistical connectivity, and a young and dynamic workforce.

    Similarly, Medline’s operation underscores the Dominican Republic’s key role in global supply chains. The country has been instrumental in the success of its surgical solutions, including Microtek’s innovative technologies, which are known for their reliability and advanced design. This focus on innovation has enabled companies such as Medline to leverage Ecolab’s legacy of quality and strengthen their position in the global marketplace.

    The Dominican Republic has positioned itself as a leader in medical device manufacturing in Latin America, thanks to developing and strengthening its free trade zones and its commitment to excellence. These BD and Medline operations are tangible proof of the confidence of major international companies in the country’s business environment and the quality of its human resources.

    These investments boost national economic growth and consolidate the Dominican Republic as a reliable and strategic destination for high-impact business. With its proximity to the United States, one of the world’s largest markets, and its focus on innovation and competitiveness, the country continues to attract global leaders’ attention.

    About the Ministry of Industry, Commerce, and MSME’s (MICM)
    MICM is the government body responsible for policy formulation, adoption, monitoring, evaluation, and control in the fields of industry, exports, foreign trade, free zones, special regimes, and SMEs.

    Contact information
    Ministry of Industry, Commerce, and MSME’s (MICM)
    Viceministry of Free Zone and Special Regimes
    (1) 809-685-5171 ext 1017
    www.micm.gob.do

    The MIL Network –

  • MIL-OSI: Bigbank AS Financial Calendar for 2025

    Source: GlobeNewswire (MIL-OSI)

    Bigbank AS has confirmed the bank’s Financial Calendar for the 2025 financial year.

    In 2025, Bigbank plans to disclose information according to the following schedule:

    26.02.2025 Q4 2024 and unaudited full year results
    27.02.2025 January results
    05.03.2025 Audited results for 2024
    13.03.2025 February results
    24.04.2025 Q1 interim results
    08.05.2025 April results
    12.06.2025 May results
    24.07.2025 Q2 interim results
    14.08.2025 July results
    11.09.2025 August results
    23.10.2025 Q3 interim results
    13.11.2025 October results
    11.12.2025 November results

    Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 30 November 2024, the bank’s total assets amounted to 2.7 billion euros, with equity of 271 million euros. Operating in nine countries, the bank serves more than 150,000 active customers and employs over 500 people. The credit rating agency Moody’s has assigned Bigbank a long-term deposit rating of Ba1, as well as a baseline credit assessment (BCA) and adjusted BCA of Ba2.

    Argo Kiltsmann
    Member of the Management Board
    Tel: +372 53 930 833
    Email: Argo.Kiltsmann@bigbank.ee 
    www.bigbank.ee

    The MIL Network –

  • MIL-OSI Canada: Joint statement from Premier Ranj Pillai and Minister Sandy Silver on Canada’s 2024 Fall Economic Statement

    Source: Government of Canada regional news

    Joint statement from Premier Ranj Pillai and Minister Sandy Silver on Canada’s 2024 Fall Economic Statement
    zaburke

    Premier Ranj Pillai and Minister of Finance Sandy Silver have issued the following joint statement:

    “This week, federal House Leader Karina Gould delivered an update on how Canada’s finances and economy are doing along with measures to address critical issues for Canadians in the 2024 Fall Economic Statement. Many of these issues are keenly felt in the Yukon and our government is pleased to see the statement recognizes the importance of reducing everyday costs, fostering innovation, adjusting to the current realities of global trade and promoting investment.

    “We are happy to see that the Government of Canada has responded to repeated requests from our government by including a proposal to amend the Yukon Environmental and Socio-Economic Assessment Act in the Fall Economic Statement. The proposed amendment would allow certain projects, identified with consent from affected Yukon First Nations, to be exempt from re-assessments. Such a change will help combine a strong regulatory framework that protects the Yukon environment with one that eases the way for investment. We look forward to this legislative change creating a more efficient assessment process and are happy to see them move forward after several years of advocacy from our government and support from First Nations governments.

    “Canada’s Premiers have been continually asking for bail reform, so it is heartening to see that the statement commits to amending the Criminal Code to specifically address the bail system. The federal government has also put forward $1.3 billion in new funding towards a comprehensive border security package and we await more details on what this package will look like. This announcement promises to strengthen Canada-U.S. relations and could help curb the flow of fentanyl into the Yukon. 

    “Meeting housing needs is another major area that our government is working with the Government of Canada to address and is crucial to making life in the Yukon more affordable. The statement includes programs that lay the groundwork for putting housing within reach of more Canadians through the Affordable Housing Fund and Canada is also extending the Federal Community Housing Initiative to include residents of non-profit and co-op housing. Our government will examine how these programs will work within the Yukon to increase our housing supply or improve access to existing housing stock. Our government will also make sure that Yukoners can take advantage of the Canada Greener Homes Affordability Program mentioned in this statement, which will fund retrofits to make homes more energy efficient.

    “We are ready to discuss the programs and initiatives mentioned in the Fall Economic Statement with the Government of Canada and find ways to ensure these measures bring the most benefits to Yukoners, as well as laying out our priorities for the territory for the future.”
     

    Media contact

    Laura Seeley
    Cabinet Communications
    867-332-7627
    laura.seeley@yukon.ca 
     

    News release #:
    Related information:
    Investing in Jobs and Growth (Government of Canada news release)
    2024 Fall Economic Statement

    MIL OSI Canada News –

  • MIL-OSI Canada: Government of Yukon and Government of Canada announce new investments to make heat pumps more affordable for Yukoners

    Source: Government of Canada regional news

    Government of Yukon and Government of Canada announce new investments to make heat pumps more affordable for Yukoners
    zaburke

    This is a joint news release between the Government of Yukon and the Government of Canada.

    The Government of Canada and the Government of Yukon are partnering to help Yukoners switch to smart electric heating systems, making life more affordable while reducing greenhouse gas emissions.

    Today, Member of Parliament for the Yukon, Brendan Hanley on behalf of Minister of Energy and Natural Resources Jonathan Wilkinson and Minister of Environment and Climate Change Steven Guilbeault, announced a federal investment of $1.4 million from the Federal Oil to Heat Pump Affordability program (OHPA) and $287,000 from Canada’s Low Carbon Economy Fund (LCEF). Yukon Minister of Energy, Mines and Resources John Streicker announced that the Government of Yukon will provide an additional $700,000 in territorial funding towards further helping low-to-middle-income households cover the cost of purchasing and installing a heat pump. 

    Heat pumps are one of the best ways for homeowners to save money on energy bills and combat climate change. They are two to three times more efficient than other electric home heating sources, providing greater savings for homeowners while reducing energy consumption for utilities and power grids.

    As part of the Government of Yukon’s Affordable Heap Pump Program, eligible Yukon homeowners can receive 100 percent of the cost to purchase and install a heat pump to a maximum of $24,000. Additionally, homeowners can receive an upfront payment of $250 to add high-efficiency heat pumps in homes currently heated with oil. Homeowners using other energy sources, such as propane or electric baseboards, could also be eligible for cold climate heat pump rebates funded by LCEF and the Government of Yukon.

    Through these investments, the governments of Canada and Yukon are helping Yukoners access energy-efficient heat pumps, save on their energy bills and reduce their carbon emissions to protect the environment. 
     

    Our government believes that we can save money and our planet at the same time. Through Our Clean Future, our government committed to helping Yukoners transition from fossil fuels to smart electric heating systems like heat pumps. I’m pleased that these new investments will help make life more affordable for Yukoners while reducing our territory’s greenhouse gas emissions. 

    Minister of Energy, Mines and Resources John Streicker

    Making the switch to more energy-efficient heating systems can help Canadians save thousands on their energy bills, reduce their energy use and decrease their carbon footprint. That’s why we are strengthening the Oil to Heat Pump Affordability program and ensuring that families are in the Yukon supported in making the switch from heating oil to an efficient heat pump. 

    Minister of Energy and Natural Resources Jonathan Wilkinson

    Yukoners face some of the coldest temperatures in Canada and need reliable, affordable heating systems to stay warm. This is now truer than ever as climate change is making weather increasingly unpredictable.  Heat pumps have shown to be an efficient way to heat homes reducing emissions, protecting the environment and helping Canadians save on their utility bills. That’s why we are investing in programs like this that support the transition and get us closer to our emission reduction goals.

    Minister of Environment and Climate Change Steven Guilbeault

    Transitioning to energy-efficient heating systems offers Canadians and Yukoners the opportunity to save money on more-efficient home energy systems. The Oil to Heat Pump Affordability program will ensure that families in the Yukon receive the necessary support to switch from heating oil to efficient heat pumps, which will benefit local installers and businesses while also helping ease northern Canada’s pathway to home heating that is less expensive and more environmentally friendly.

    Member of Parliament for Yukon, Brendan Hanley

    Quick facts

    • The federal government’s Oil to Heat Pump Affordability program was first introduced in November 2022 as a $250 million investment in a new stream within the Canada Greener Homes Initiative. On February 22, 2023, the program was opened to pre-registration and was fully launched in late March 2023, with the first grants being issued shortly thereafter.

    • Introduced in October 2023, the federal government announced working with provinces and territories on co-delivery agreements including an upfront payment of $250 for eligible applicants through the Canada Heat Pump Bonus.

    • Every year, on average, a household participating in the Oil to Heat Pump Affordability program saves $1,337 on energy costs and 2.78 tonnes in greenhouse gas reductions.

    • The federal government currently has OHPA program co-delivery arrangements in place with British Columbia, Newfoundland and Labrador, Nova Scotia and Prince Edward Island. Active discussions are underway with other provinces and territories to deliver new, strengthened OHPA co-delivery agreements to make heat pumps even more affordable for Canadians across the country. In jurisdictions without co-delivery arrangements, oil-heated households can continue to apply to the national program to receive up to $10,000 in federal OHPA funding for switching to electric heat pumps.

    • The federal government’s Oil to Heat Pump Affordability program has received over 29,000 applications to date nationally.

    • Under Budget 2024, the Government of Canada is taking numerous steps to make life more affordable for Canadians while addressing climate change. This includes the Canada Greener Homes Affordability Program, which will support the direct installation of energy efficiency retrofits for Canadian households with low to median incomes.

    • Yukoners who participate in the Affordable Heat Pump Program (the Yukon’s version of the federal government’s Oil to Heat Pump Affordability program) may retain their pre-existing heating sources as backup systems for periods of extreme cold.

    Media contact

    Media Relations 
    Natural Resources Canada 
    343-292-6096 
    media@nrcan-rncan.gc.ca 

    Joanna Sivasankaran
    Director of Communications
    Office of the Minister of Energy
    and Natural Resources
    joanna.sivasankaran@nrcan-rncan.gc.ca 

    Laura Seeley
    Cabinet Communications
    867-332-7627
    laura.seeley@yukon.ca 

    Kate Erwin 
    Energy, Mines and Resources 
    867-667-7627
    kate.erwin@yukon.ca 
     

    News release #:
    Related information:
    Yukon affordable heat pump program
    Oil to heat pump affordability program
    Low carbon economy fund
    Canada greener homes initiative
    Canada green building strategy

    MIL OSI Canada News –

  • MIL-OSI Asia-Pac: “Immersive Hong Kong” roving exhibition opens in Dubai (with photos)

    Source: Hong Kong Government special administrative region

    “Immersive Hong Kong” roving exhibition opens in Dubai (with photos)
    “Immersive Hong Kong” roving exhibition opens in Dubai (with photos)
    ******************************************************************************

         The “Immersive Hong Kong” roving exhibition opened in Dubai, the United Arab Emirates, today (December 20). This is the fifth stop of the exhibition, following its successful staging by the Information Services Department (ISD) of the Hong Kong Special Administrative Region Government in Jakarta, Indonesia; Bangkok, Thailand; Kuala Lumpur, Malaysia; and Guangzhou, China between July 2023 and August 2024.      Organised in collaboration with the Hong Kong Economic and Trade Office in Dubai (Dubai ETO), the exhibition is part of the ISD’s promotional campaign to showcase the city’s new attractions, advantages and opportunities. Themed “Hong Kong – Where the World Looks Ahead”, it invites visitors from the Middle East to explore the unique potential for tourism, business and investment in Hong Kong.      The Director of Information Services, Mrs Apollonia Liu, said Hong Kong has been actively expanding and deepening its overseas networks, including closer co-operation and engagement with the Middle East.      “The Chief Executive, Mr John Lee, and a number of Principal Officials have led delegations to visit the Middle East since last year to strengthen Hong Kong’s connections with the region, to tell good stories of Hong Kong, and to explore greater business opportunities.      “Building on the success of the previous runs of the exhibition, we are bringing it to the Middle East for the first time. We hope that the exhibition in Dubai will provide an opportunity for our friends in the region to understand more about our city and its unique potential,” she said.     Through interactive art technology, the “Immersive Hong Kong” exhibition enables visitors to delve into different virtual scenes representing the city with a creative twist. The five thematic zones, namely “Financial Bridgehead”, “I&T Brain Bank”, “Blossoming Creativity”, “Diversity and Greenery” and “Buzzing Sports Action”, feature multiple interactive art projections, light box installations and naked-eye 3D displays, presenting the multifaceted appeal of Hong Kong. There is a special introduction to the Kai Tai Sports Park, Hong Kong’s new state-of-the-art multi-purpose sports venue, which is set to officially open in the first quarter of 2025.      Visitors may also enjoy the city’s vibrant and colourful skyline, illustrated by Hong Kong artist Messy Desk (Jane Lee), at a photo corner in the venue. Promotional videos on Hong Kong and digital panels with information and insights shared by companies and prominent individuals from the Middle East about their experiences in Hong Kong are also on display, explaining why the city is one of the most desirable places to visit, live, work and invest.     To encourage more people to visit Hong Kong, an interactive game, “Snap a cool shot @Immersive Hong Kong”, is also part of the exhibition. Two winners will receive attractive prizes sponsored by Cathay Pacific. The winner of the Grand Prize will receive two round-trip business class air tickets from Dubai to Hong Kong, while the runner-up will receive two round-trip economy class air tickets on the same itinerary.     To give Middle East audiences a taste of Hong Kong’s cultural offerings, a pop music concert by SENZA A Cappella and a street dance performance by Move Beyond will be staged at the exhibition venue from today to December 22.     The exhibition is being held at The Beach, Jumeirah Beach Residence, a buzzing residential, shopping and dining complex in Dubai, until January 5, 2025. Admission is free, and visitors will be offered souvenirs during the event. In addition to Dubai ETO, other supporting organisations of this event include the Belt and Road Office of the Commerce and Economic Development Bureau, Hong Kong Talent Engage, Cathay Pacific, the Hong Kong Trade Development Council, the Hong Kong Tourism Board, and the Kai Tak Sports Park.      More information on the exhibition is available on the dedicated page on the Brand Hong Kong website (www.brandhk.gov.hk/en/campaign/hkpromotion-middle-east) as well as the website of Dubai ETO (www.hketodubai.gov.hk/en/index.html).

     
    Ends/Friday, December 20, 2024Issued at HKT 23:44

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: 41/2024・Trifork Group AG announces agreement on partial divestment of a Trifork Labs portfolio company

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 41 / 2024
    Schindellegi, Switzerland – 20 December 2024

    Trifork announces agreement on partial divestment of a Trifork Labs portfolio company

    The shareholders of a portfolio company in Trifork Labs have today entered into an agreement to divest 30% of the existing shares to an equity fund investor. Trifork has participated pro-rata and will continue as a minority shareholder in the company.

    Financial impact of the partial sale for Trifork
    The undisclosed transaction valuation exceeds the book value of the company previously recorded in Trifork Labs and therefore has a material positive impact on both realized and unrealized gains recorded in Trifork Labs. The transaction will contribute with a financial gain of EURm 9.6 in Q4 2024. More information about the transaction and its impact on Trifork Group will be shared in the Annual Report 2024.

    Comment from Jørn Larsen, CEO of Trifork Group
    “I am happy to see that Trifork Labs continues to build on its outstanding investment track record in disruptive technology innovators early in their entrepreneurial journeys. Trifork Labs has historically contributed to funding the Group’s investments in organic growth and acquisitions. Looking at our existing portfolio, we are confident that more success stories will emerge in the future, ensuring strong value creation for Trifork Group’s shareholders over time.”

    Contact
    Frederik Svanholm, Group Investment Director & Head of IR
    frsv@trifork.com, +41 79 357 7317

    About Trifork Group  
    Trifork is a pioneering global technology partner that empowers enterprise and public sector customers with innovative solutions. With 1,278 professionals across 76 business units in 15 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    About Trifork Labs
    Trifork Labs leads the venture-financed R&D activities of the Trifork Group. Trifork Labs has been active in founding, co-founding, and investing in innovative B2B software companies for more than 20 years. Today, the portfolio consists of 25 companies from around the world. Previous successful exits include global successes such as Chainalysis, Tradeshift, and Humio. By centering innovation efforts around companies founded either by Trifork’s own employees or externally by customers, partners, or entrepreneurs, the Group learns about new technologies and new possibilities of software while providing portfolio companies access to Trifork’s technical support, commercial experience, global customer base, investor network, and capital. Learn more at labs.trifork.com.

    Attachment

    The MIL Network –

  • MIL-OSI: Paytora Launches All-in-One Platform for Instant Crypto Conversion and Financial Simplification

    Source: GlobeNewswire (MIL-OSI)

    Vancouver, Canada, Dec. 20, 2024 (GLOBE NEWSWIRE) — Paytora, an all-in-one digital banking platform that aims to revolutionize how users manage their funds, has introduced more flexible financial tools. The ambitious project partnered with leading financial providers to enable seamless conversion of crypto  to fiat currencies (EUR or USD), giving users immediate access to funds with integrated card services.

    Crypto-to-fiat transactions have a reduced adoption rate for generally the same reasons, regardless of service providers. They require users to have separate crypto wallets and often take precious time to process. Paytora seeks to solve these issues by allowing users to make instant conversions from USDT to EUR or USD without the need for another crypto wallet. It also lets them utilize the funds immediately for withdrawals and international transfers.

    Each Paytora user receives a personal European IBAN account under their name. The account comes with full banking functionality similar to traditional bank accounts but with enhanced financial management options. Users can instantly access funds via virtual or physical MasterCard-branded cards and use them globally.

    The Paytora app supports fast and easy international transfers with zero fees and real-time rates for any currency. Users can choose to link bank accounts, debit/credit cards, or digital accounts to send money to anyone, even if the receiving party doesn’t have the app. Peer-to-peer money transfers between Paytora users are instant. Additional options for quick P2P transfers include splitting bills and sending gifts.

    Users can also opt for a physical LifeUp card, which they can use anywhere and anytime for instant transactions with minimal fees. For example, transactions of up to 25 EUR incur zero fees, while exchange fees reach only 2%. Users can also connect these cards to Apple Pay, Google Pay, or MasterCard for seamless transactions and SEPA or SWIFT transfers. The cards feature high-security encryption and contactless technology that keep the users’ assets safe regardless of where they use them.

    Paytora delivers a unique outlook on financial management, hassle-free onboarding, and a user-friendly experience. Obtaining a Paytora account takes less than a minute, allowing users to gain swift access to the platform and deposit funds immediately. The app requires passing a one-time KYC process that ensures compliance and unmatched security. Additionally, Paytora uses advanced encryption and abides by strict regulatory standards, including AML (Anti-Money Laundering), to guarantee optimal protection for the user’s funds and data.

    The Paytora app has a user-centric design, displaying a friendly layout and quick navigation features. The platform caters to all individuals looking for seamless USDT and fiat transactions, regardless of technical expertise. To this end, deposits are readily available via bank transfers, PayPal, credit/debit cards, and cryptocurrency transfers. Lastly, Paytora provides excellent customer support, which is available 24/7. The platform also employs a consumer education policy, ensuring users understand the products, services, and associated risks. This approach aligns with the project’s mission to promote financial literacy, transparency, and trust. 

    About Paytora

    Paytora proposes a simpler, more accessible financial oversight. Users only require a personal European IBAN and a digital wallet. The platform provides a user-friendly, easy-to-navigate dashboard for quick deposits, withdrawals, and efficient financial management. Furthermore, Paytora integrates virtual and physical MasterCard-branded cards for instant global transactions and crypto-to-fiat conversions.

    Paytora is available in the Apple Store and on Google Play. 

    You can visit Paytora at its official website or follow the platform on its dedicated social media channels: X (Twitter) |LinkedIn | Instagram | Facebook 

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

    The MIL Network –

  • MIL-OSI USA: SEC Files Settled Charges Against Multiple Entities for Failing to Timely File Forms D in Connection With Securities Offerings

    Source: Securities and Exchange Commission

    The Securities and Exchange Commission today announced charges against two private companies and one registered investment adviser for failing to timely file Forms D for several unregistered securities offerings in violation of Rule 503 of Regulation D. The parties charged are:

    • GRID 202 LLC, a registered investment adviser which does business as Re-Envision Wealth;
    • Pipe Technologies Inc., a privately held financial technology company; and
    • Underdog Sports Holdings, Inc., a privately held corporation that operates an online fantasy sports website and mobile app.

    All offers and sales of securities must either be registered under the Securities Act or fall within an exemption from registration. Regulation D contains certain offering exemptions and a safe harbor from the Securities Act’s registration requirements. To protect investors and safeguard markets, an issuer offering or selling securities in reliance on one of those exemptions or the safe harbor is required to file a Form D within 15 days after the first sale of securities in the offering.

    An issuer’s failure to follow the requirements to file a Form D (or amend its existing Form D filing) impedes the Commission’s ability to fully assess the scope of the Regulation D market, which is key to the Commission’s understanding of whether Regulation D is appropriately balancing the need for investor protection on one hand and the furtherance of capital formation on the other, particularly as it relates to small businesses. It also harms the Commission’s ability to monitor and enforce compliance with the requirements of Regulation D and the ability of state securities regulators and self-regulatory organizations to monitor and enforce other securities laws and rules. In addition, it hampers the ability of investors and other market participants to understand whether companies are complying with federal securities laws in their offerings, to research and analyze the Regulation D market, and to report on capital-raising in industries that use Regulation D.

    “Form D filings are crucial sources of information on private capital formation, and compliance with the requirement to make such filings in a timely manner is vital to the Commission’s efforts to promote investor protection while also facilitating capital formation, especially with respect to small businesses,” said Sanjay Wadhwa, Acting Director of the SEC’s Division of Enforcement. “Today’s orders find that the charged entities deprived the Commission and the marketplace of timely information concerning nearly $300 million of unregistered securities offerings.”

    Without admitting or denying the findings, Re-Envision Wealth, Pipe Technologies, and Underdog Sports Holdings agreed to cease and desist from violating the charged provisions and to pay the respective civil penalties of $60,000; $195,000; and $175,000.

    The SEC’s investigation was conducted by Alicia Guo, Karen M. Lee, and Adam S. Grace of the Enforcement Division’s New York Regional Office and Claire M. Tafelski and Lee A. Greenwood of the Enforcement Division’s Asset Management Unit, with assistance from Beth Groves and Howard Kaplan in the Enforcement Division’s Office of Investigative & Market Analytics, Rachita Gullapalli and Daniel Bresler in the Division of Economic and Risk Analysis and Gerard Sansobrino, Barry Simmons, Christopher Ruvolo, and David S. Eidelman of the Division of Examinations. The investigation was supervised by Sheldon L. Pollock of the New York Regional Office.

    MIL OSI USA News –

  • MIL-OSI USA: Artificial Intelligence and Its Potential Effects on the Economy and the Federal Budget

    Source: US Congressional Budget Office

    Artificial intelligence (AI) refers to computer systems that can perform tasks that have traditionally required human intelligence, such as learning and performing other activities that require cognitive ability. A general attribute of AI is its ability to identify patterns and relationships and to respond to queries that arise in complex scenarios for which the precise computational algorithm that is needed cannot be specified in advance.

    Because AI has the potential to change how businesses and the federal government provide goods and services, it could affect economic growth, employment and wages, and the distribution of income in the economy. Such changes could in turn affect the federal budget. The direction of those effects—whether they increased or decreased federal revenues or spending—along with their size and timing, are uncertain. Some budgetary effects could occur relatively quickly, whereas others might take longer. In this report, the Congressional Budget Office provides an overview of the channels through which the adoption of AI could affect the U.S. economy and the federal budget.

    MIL OSI USA News –

  • MIL-OSI: BitMart Research: BMX 2024 Annual Report

    Source: GlobeNewswire (MIL-OSI)

    Singapore, Dec. 20, 2024 (GLOBE NEWSWIRE) — Recently, BitMart released the BMX 2024 Annual Report.

    1. 2024 Crypto Market Review

    At the beginning of the year, capitalizing on the momentum generated by the previous year’s bull market, BTC achieved a peak price of $73,881 in March. Nevertheless, despite the occurrence of its halving event in April, the market did not transition into a sustained upward trajectory. Instead, it underwent a significant decline in June, resulting in an extended period of adjustment. The primary catalysts in the first half of the year included the approval of an ETF for both Bitcoin and Ethereum, as well as the halving event. While the introduction of the ETF attracted institutional investment and enhanced the recognition of cryptocurrency assets within traditional financial markets, the halving event, despite lacking immediate positive impacts, is anticipated to substantially increase the value of Bitcoin over the long term. The market correction observed in June was precipitated by numerous factors, including Japan’s interest rate hikes, developments surrounding the Mt. Gox compensation case, and the German government’s liquidation of crypto assets, which collectively heightened selling pressure and instigated market panic.

    In the latter half of the year, the cryptocurrency market experienced a resurgence of momentum. Expectations regarding interest rate cuts revitalized the market, while the election victory of Donald Trump contributed to a robust recovery, resulting in BTC prices exceeding the $100,000 threshold and reaching a new all-time high of $104,088. Consequently, the total market capitalization of cryptocurrencies and trading volumes witnessed significant increases. In this context, altcoins displayed strong performance, with substantial gains observed in SOL, ETH, XRP, and ADA across various sectors. Trump’s proposed policies — characterized by the easing of regulations, the establishment of national reserves, and the support of mining enterprises — emerged as central themes for market recalibration. This highlights the positive influence of clear regulatory frameworks in enhancing User confidence and fostering growth within the industry.

    In contrast to previous years, the participation of institutional users has begun to significantly reshape market dynamics. Bitcoin’s dominance has continued to strengthen, while Ethereum has encountered challenges to its previously monopolistic position due to competition from emerging blockchain technologies and its constrained value capture capabilities. Concurrently, the decline in the popularity of altcoins has facilitated the emergence of the MEME sector as a new focal point within the market. These developments indicate a discernible trend toward diversification within the cryptocurrency industry.

    2. BMX Market Performance

    Figure 1: Annual Changes in Exchange Platform Tokens’ Prices and Market Capitalizations

    (Data Source：CMC、CG)

     According to data from CoinMarketCap and CoinGecko, the prices and market capitalizations of platform tokens from major exchanges have exhibited an upward trajectory over the past year, although notable variations in performance have been observed. BMX experienced a price escalation of 57.9% accompanied by a market capitalization increase of 56.8%, culminating in a total market capitalization of $262 million, indicative of consistent growth. Generally, lower-market-cap tokens have experienced substantial benefits due to their smaller baselines, resulting in rapid growth. In contrast, higher-market-cap tokens have demonstrated stable growth, reflecting resilience albeit with comparatively slower rates of increase.

    It is worth noting that Trump’s presidency may lead to clearer crypto market regulations, potentially reshaping the global cryptocurrency landscape. This development could significantly impact the future of the crypto industry. The resignation of SEC Chairman Gary Gensler further signals a turning point for crypto enterprises previously targeted by SEC lawsuits. Centralized exchanges, long under SEC scrutiny, are likely to benefit substantially from this leadership change, potentially achieving significant progress in regulatory compliance.

     Figure 2: Comparison of Exchange Spot Average Daily Trading Volume and Circulating Market Capitalization Over the Past Year

    (Data Source：CMC、CG)

     According to data from CoinGecko, the circulating market capitalization of BMX currently amounts to $262 million, a figure that is significantly lower than that of other exchange platform tokens. However, BitMart has demonstrated an average daily spot trading volume of $803 million over the past year. A comparison of BMX’s market capitalization with BitMart’s daily trading volume reveals that the exchange’s trading activity exceeds the valuation of its platform token. Furthermore, both the market capitalization and price of BMX have experienced considerable growth over the last year. This trend indicates that, despite its relatively modest market capitalization, BMX is undergoing heightened market activity and demand, as the broader market gradually starts to acknowledge its potential value.

     3. BMX Burn Progress

    Figure 3: BMX Burn Progress Table

    In accordance with the repurchase mechanism detailed in the BMX whitepaper, BitMart executed the repurchase of approximately 5,672,978 BMX tokens in the year 2024, amounting to a total value of approximately $2,034,343. This series of repurchase initiatives underscores BitMart’s ongoing commitment and confidence in its platform token, BMX. By allocating a portion of its revenue generated from transaction fees towards these repurchases, BitMart has effectively decreased the circulating supply of BMX in the market, thereby contributing to its stability and scarcity.

     4. New Features and Activities for BMX in 2024

    Figure 4: New BMX Features in 2024

    In 2024, BMX introduced a series of new features that substantially enhanced its value and liquidity. The implementation of a staking feature enables users to obtain stable annual returns without facing any entry barriers, thereby attracting a larger number of long-term participants. Additionally, the small asset conversion feature addresses the issue of “dust” balances in user accounts, improving the utility of minor assets while expanding the practical use cases for BMX. Users can also benefit from transaction fee discounts and engage in various platform activities. Furthermore, the establishment of a P2P trading market has rendered BMX trading more adaptable, allowing users to conduct transactions using diverse payment methods, which, in turn, increases the liquidity and market demand for BMX. The listing of BMX on KuCoin signifies an important step in its expansion within the global market, drawing greater interest from users. Additionally, the introduction of the BMX Flash Sale feature has further elevated the exclusive benefits available to holders.

    The introduction of the stake-to-list feature has empowered BMX holders to make independent decisions regarding the listing of projects on BitMart, while also benefiting from shared transaction fees and additional advantages. This initiative fosters a sense of collective ownership, enhances decision-making authority, and provides users with control, growth opportunities, and shared responsibilities within the BitMart community.

    The recent enhancements to the BMX platform have significantly broadened its range of applications, offering users an increased array of opportunities for investment returns and active participation. With functionalities including staking, conversion, peer-to-peer trading, IEO, and stake-to-list mechanisms, the diverse features of BMX have substantially elevated its market appeal and liquidity. These improvements have not only enriched the user experience but have also contributed to the platform’s growth and adoption within the cryptocurrency market.

    Figure 5: New BMX Activities in 2024

    In 2024, BMX implemented several strategic initiatives that significantly enhanced its market appeal and user engagement. These initiatives encompassed trading competitions, external collaborations, and community-building programs. The trading competitions incentivized a substantial influx of participants, thereby increasing the liquidity of BMX. External collaborations not only served to promote BMX but also elevated the visibility of related projects. The community-building program recognized and rewarded active members, while also providing essential traffic support. Collectively, these initiatives not only broadened the applications of BMX but also improved its liquidity and market influence. Through this program, BMX fostered user retention, attracted a greater number of dedicated users and community contributors, and bolstered its market activity and long-term growth potential.

    5. BMX Value Benefits

    – Higher Account Levels and Trading Fee Discounts: BMX holders are eligible for higher account levels and better trading fee rates. The more BMX a user holds, the greater the discount they receive.

    – Higher Copy Trading Profit Share: BMX holders qualify for a higher percentage of copy trading profit sharing.

    – Participation in Launchpad: BMX holders can participate in BitMart’s exclusive Launchpad and receive free airdrops of newly listed tokens.

    – VIP Membership Upgrade Criteria: BitMart offers a lifetime VIP membership plan, and holding BMX is one of the criteria for upgrading.

    – Stake-to-List: Users can stake BMX to support their favorite projects and earn rewards.

    – Participation in BitMart Products: Users can stake BMX to participate in various products offered by BitMart and earn higher interest rates.

    – Ecosystem Payment Token: BMX can be used as a payment token for projects within the BitMart ecosystem.

    – Holding Trading Rebate: Invite friends to hold and trade BMX to earn rebates.

    Risk Warning:

    Use of BitMart services is entirely at your own risk. All crypto investments, including earnings, are highly speculative in nature and involve substantial risk of loss. Past, hypothetical, or simulated performance is not necessarily indicative of future results.

    The value of digital currencies can go up or down and there can be a substantial risk in buying, selling, holding, or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial circumstances, and risk tolerance. Investing involves risks, and the content should be approached with caution. BitMart does not provide any investment, legal or tax advice.

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

    The MIL Network –

  • MIL-OSI: Serstech recruits new Chief Commercial Officer

    Source: GlobeNewswire (MIL-OSI)

    Niclas Ekström will join Serstech as Chief Commercial Officer on March 24, 2025.
     
    Niclas has more than 25 years of experience in international sales and commercial leadership roles as Marketing Director, Product Director, Head of Sales and Managing Director. He has a MSc degree in business administration and economics and will be a member of the senior management team of Serstech.
     
    “I’m excited to welcome Niclas to Serstech and our management team. With his solid background and experience, Niclas will bring invaluable expertise to Serstech”, says Stefan Sandor, Serstech CEO.

    For further information, please contact:
    Stefan Sandor,
    CEO, Serstech AB Phone: +46 739 606 067
    Email: ss@serstech.com

    or

    Thomas Pileby,
    Chairman of the Board, Serstech AB Phone: +46 702 072 643
    Email: tp@serstech.com
    or visit: www.serstech.com

    Certified advisor to Serstech is Svensk Kapitalmarknadsgranskning AB (SKMG).
     
    About Serstech
    Serstech delivers solutions for chemical identification and has customers around the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and first responders. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. Serstech’s head office is in Sweden and all production is done in Sweden.

    Serstech is traded at Nasdaq First North Growth Market and more information about the company can be found at www.serstech.com

    The MIL Network –

  • MIL-OSI Economics: ADB, Hamkorbank Sign Deal to Enhance Financial Access for Rural MSMEs in Uzbekistan

    Source: Asia Development Bank

    TASHKENT, UZBEKISTAN (20 December 2024) — The Asian Development Bank (ADB) and Hamkorbank has signed a 625 billion Uzbek sum (equivalent to about $50 million) loan to enhance access to financing to rural micro, small, and medium-sized enterprises (MSMEs) in Uzbekistan.

    A majority of the loan will be allocated to support financial inclusion for MSMEs outside the capital of Tashkent. At least 20% of the loan will be directed towards women-owned or led MSMEs, and at least 10% will be earmarked for green technology investments. The country’s nearly half a million MSMEs are a key pillar of the economy, contributing over 50% of GDP and employing most of the working population. Even so they struggle to access bank loans, especially those run by women who often lack basic finance and management skills.

    “ADB is committed to Uzbekistan’s inclusive economic development. This partnership with Hamkorbank will provide much-needed support for rural MSMEs, empowering entrepreneurs, creating jobs, and contributing to the country’s overall economic resilience,” said ADB Director General for Private Sector Operations Suzanne Gaboury. “By focusing on MSMEs and green technology investments, ADB’s support for Hamkorbank will stimulate local economies, fostering long-term, inclusive growth that benefits a wide cross-section of society including women-led businesses.”

    “This partnership underscores Hamkorbank’s commitment to supporting the Uzbekistan’s economic reforms and development strategies. ADBs financial support, especially given the market scarcity of medium-term local currency financing, will help meet the evolving needs of MSMEs, contributing to a more dynamic and resilient Uzbekistan,” said a Hamkorbank’s CEO Bakhtiyorjon Juraev.

    Established in 1991, Hamkorbank is Uzbekistan’s third-largest private bank, with a strong rural footprint, servicing its clients through a network of 50 branches, 150 service outlets, and multi-sales channels.

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

    MIL OSI Economics –

  • MIL-OSI Global: Could trusting each other more unlock economic growth?

    Source: The Conversation – UK – By Paul Whiteley, Professor, Department of Government, University of Essex

    Shutterstock/GoodStudio

    Trust in Britain’s institutions is in bad shape, according to recent data from the European Social Survey.

    Trust is important because a good deal of governing involves trying to persuade people to do things or convince them that things will get better in the future. This is increasingly difficult to do if trust is in decline. Trust in political institutions is particularly important when governments have to make unpopular decisions, such as raising taxes.

    Data covering a 20-year period shows a marked decline in trust in parliaments, political parties and politicians. The following question is asked in the European Social Surveys over time:

    Please tell me on a score of 0-10 how much you personally trust each of the following institutions. 0 means you do not trust an institution at all, and 10 means you have complete trust in it.

    The decline in trust began around the time of the 2016 survey, when the lowest level of trust in politicians and political parties was recorded in 20 years of doing the survey. Parliament has done a bit better, but decline in trust for it is still quite marked. It is no coincidence that this decline started in 2016 – the year of Brexit.

    Average trust scores for British institutions, 2002-2022

    Trust on the slide.
    P Whiteley, CC BY-ND

    But the European Social Survey carries another important measure of trust – our trust in fellow citizens. A question in the surveys asks how trusting respondents felt about other people on an 11-point scale, with a high score indicating that people are trusting.

    Average trust scores in other people in Britain, 2002-2022

    Trust in other people.
    P Whiteley, CC BY-ND

    After a shaky start at the beginning of the millennium, trust in other people increased significantly in Britain in 2006, to over 5.35 on the 11-point scale. It then dropped in 2008, the year of the financial crisis. The recovery from this decline was in place by 2010. It is noticeable that the trust scores fell again in 2018, when the political consequences of Brexit were making themselves felt. Trust revived again in 2020 during the pandemic.

    So, our trust in each other is in healthier shape than our trust in institutions. This is important because trust in others is a key measure of social capital – the willingness of people to work together to solve social and economic problems in society. The importance of social capital in creating prosperity in the US was highlighted by the American political scientist Bob Putnam in his best-selling book, Bowling Alone.

    Trust is lacking in British politicians.
    Flickr/UK Parliament, CC BY-NC-ND

    There is now a large literature on social capital and trust, some of it focusing specifically on Britain. The findings are that trust promotes prosperity for a number of reasons. If people trust each other, they are more likely to volunteer. This free labour helps to provide a social safety net, which increases prosperity for all – even if it is not fully recognised in the national income statistics.

    High-trust countries like Denmark and Sweden also have low levels of corruption – and corruption is a blocker to growth. In a high-trust environment, the costs of doing business are lower because there is less need for elaborate contracts, expensive lawyers and lots of litigation to make other people behave properly. This is, in part, why high-trust countries are richer than low-trust countries.

    It’s well established that economic growth is driven by investment in innovation, skills and transport, extra manufacturing capacity and greater workplace productivity. However, it is also the case that social capital helps to create economic growth. In researching this across a variety of countries, I found that trust was very important in stimulating economic growth alongside these other factors.

    Government has limited direct influence on social capital, but it can encourage it by investing in voluntary organisations and increasing transparency in its dealings with the public.

    Britain has suffered from a lack of investment in capital spending and infrastructure, and has neglected investment in education over the past 15 years. Social capital seems to be in much better shape, and faced with the significant challenge of restoring growth, the UK government needs to pull every lever at its disposal. It can repair trust in politics with its own actions, and this is likely to help with sustaining social capital, which is part of the solution to restoring economic growth.

    Paul Whiteley has received funding from the British Academy and the ESRC.

    – ref. Could trusting each other more unlock economic growth? – https://theconversation.com/could-trusting-each-other-more-unlock-economic-growth-246302

    MIL OSI – Global Reports –

  • MIL-OSI Security: 2024: Eurojust year in review

    Source: Eurojust

    Here are a few highlights:

    Deepening Cooperation with Latin America

    Organised crime groups are increasingly operating on a global scale, which means efforts for cooperation with partner countries outside of the EU is a priority. With 68% of the most threatening criminal networks operate globally, and 36% of these networks engaged in drug trafficking, forging closer partnerships with countries who are frequent origin or transit points is critical.

    Over the course of the year, new Working Arrangements were signed between Eurojust and the Prosecution Services of Bolivia, Chile, Costa Rica, Ecuador, Panama, and Peru. These arrangements strengthen cooperation in crime areas that affect both the EU and Latin American countries, such as drug and arms trafficking, money laundering and cybercrime.

    Launch of the European Judicial Organised Crime Network

    In September, we took another important step in the fight against organised crime with the launch of the European Judicial Organised Crime Network (EJOCN). The Network, which is hosted at Eurojust, aims to go beyond investigation-based collaboration to combat organised crime strategically. Specialised prosecutors from all EU Member States are brought together to focus on the horizontal issues that arise in the investigation and prosecution of high-risk criminal groups. This will allow them to tackle recurring legal challenges and identify new, practical opportunities for closer cooperation.

    The members benefit from Eurojust’s unique operational expertise in setting up joint investigation teams and using other judicial cooperation tools in cross-border criminal investigations. The first priority focus of the EJOCN is combatting drug-related organised crime connected to European ports and other logistic hubs.

    Supporting Accountability Efforts in Ukraine

    Documenting and prosecuting core international crimes is a long-term commitment and Eurojust remains resolute in our accountability efforts. Since the outbreak of the war in Ukraine, we have been at the forefront of supporting accountability for Russian crimes. In July, we marked one year since the launch of the International Centre for the Prosecution of the Crime of Aggression against Ukraine. The ICPA’s independent prosecutors and investigators from different countries have been working together regularly at Eurojust, benefitting from the Agency’s dedicated team of legal experts and tailor-made technical, logistical and financial support. This has enabled them to exchange information and evidence quickly and efficiently, and coordinate a common investigative and prosecutorial strategy.

    This year also saw the joint investigation team on alleged core international crimes committed in Ukraine amend the JIT Agreement to enhance investigations on crimes of torture, ill-treatment and filtration.

    Hosting Partners in The Hague

    Our close partnership with national judicial authorities sits at the foundation of our Agency. Every year, we have thousands of prosecutors coming to Eurojust to discuss cases or participate in coordination centres or coordination meetings. In 2024, we were able to welcome many high level visitors, including the President of Slovenia, the Chairman of the Presidency of Bosnia and Herzegovina, the Deputy Prime Minister of Moldova, Ministers of Justice and Interior from many EU Member States, and many others.

    These visits are opportunities to discuss ways to strengthen judicial cooperation, update national authorities on Eurojust’s work, and identify opportunities for closer collaboration.

    Welcoming our New Presidency

    2024 was also marked by a change in Eurojust’s leadership, with Mr Ladislav Hamran bidding the Agency farewell after serving 11 years in the Presidency – 7 as President and 4 as Vice-President. Austrian National Member Mr Michael Schmid was elected as his successor, with his 4-year tenure beginning in November. We also welcomed a new Vice-President, Spanish National Member Jose de la Mata, in December.

    With no equivalent worldwide, Eurojust continued to deliver remarkable results in 2024, enabling prosecutors and law enforcement authorities from the EU and beyond to bring perpetrators to justice.

    MIL Security OSI –

  • MIL-OSI Security: From fake art to money laundering: Eurojust’s cross-border investigations in 2024

    Source: Eurojust

    Some highlights of our 2024 casework:

    EUR 2 billion money laundering network dismantled

    A financial institution in Lithuania was discovered laundering around EUR 2 billion through a worldwide web of shell companies. Italian, Latvian and Lithuanian authorities, supported by Eurojust and Europol, took down the network during an action day on 27 February. Eighteen people were arrested and over EUR 11.5 million in assets and bank accounts were frozen.

    Takedown of online infrastructure used for terrorist propaganda

    After a complex investigation that monitored the online activities of terrorist groups, authorities in Spain traced servers across the globe that were supporting multiple media outlets disseminating worldwide propaganda meant to incite terrorism. A global coalition between Spanish, German, Dutch, American and Icelandic authorities was set up to take the servers offline. With the support of Eurojust and Europol, servers were taken down and nine radicalised individuals were arrested.

    Large anti-mafia operation leads to arrest and freezing of EUR 50 million

    Authorities uncovered an intricate money laundering scheme run by a mafia family in Brazil. Profits of their crimes were reinvested into multiple companies in Brazil, including a well-known hotel. Through a joint investigation team at Eurojust, Italian and Brazilian authorities investigated the activities of the mafia family and planned a large global operation to arrest the suspects. The operation led to the arrest of one of the mafia members and the freezing of financial assets worth EUR 50 million.

    Belarusians Charged for Forced Plane Landing

    Eurojust supported a joint investigation team between Polish and Lithuanian authorities that investigated the forced landing in Belarus of a commercial flight. The unprecedented case shed a light on the real reason behind the flight’s diversion: suspects instructed air traffic controllers to land the aircraft in order to arrest a Belarusian dissident. In September, the investigation led to the arrest warrants for three Belarusian officials.

    Authorities stop malware targeting millions of people

    Two infostealers, malware that is able to steal personal data from infected devices, was taken down by a global operation. Authorities from the Netherlands, the United States, Belgium, Portugal, the United Kingdom, Australia and Eurojust and Europol shut down three servers in the Netherlands and seized two domains. The operation stopped the malware from stealing data such as usernames and passwords that were used to steal money or carry out other hacking activities.

    Fake art network discovered that could have cause losses of EUR 200 million

    Banksy, Andy Warhol, Pablo Picasso, Claude Monet and Vincent van Gogh are among the artists whose work was forged by a criminal group that set up a sophisticated fake art operation. The group produced the art, organised exhibitions of the forged works and worked together with compromised auction houses to sell the pieces. Eurojust supported Italian authorities to dismantle the criminal group and set up the cooperation between Belgian, French and Spanish authorities. During an action day in November, 38 people were arrested and over 2 000 fake art works were seized.

    MIL Security OSI –

  • MIL-OSI: Foresight Ventures Latest Research Dissects Story’s Revolutionary Protocol for AI-Driven IP Economy

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Dec. 20, 2024 (GLOBE NEWSWIRE) —

    Foresight Ventures, a global leading Venture Capital in Web3 and blockchain, has unveiled its latest research report on Story, highlighting its transformative potential in building a decentralized ecosystem for managing intellectual property (IP). The research delves into how the protocol enables trustless IP management, automated licensing, and dynamic royalty systems, fostering an AI-driven IP economy that redefines digital creativity and collaboration.

    Revolutionizing the IP Landscape

    Story recently introduced the Agent Transaction Control Protocol for Intellectual Property (ATCP/IP), a groundbreaking framework enabling the seamless and autonomous exchange of IP on-chain. By integrating programmable licensing terms, royalty automation, and dispute resolution mechanisms, it provides a scalable, trustless infrastructure for creators and innovators.

    “Story is more than a blockchain; it’s an operating system for decentralized creativity,” said Maggie Wu, Research Lead at Foresight Ventures. “Its ability to empower creators with scalable, automated, and transparent IP tools is a paradigm shift in how we view and manage intellectual property globally.”

    Pioneering the AI Economy

    A key highlight of the research is Story’s role in bridging blockchain technology with the growing AI ecosystem. The ATCP/IP framework allows AI agents to autonomously manage, license, and trade datasets, outputs, and algorithms, facilitating collaboration and innovation at an unprecedented scale.

    “AI and blockchain are converging to reshape how we manage and transact value,” said Forest Bai, Co-founder of Foresight Ventures. “Story stands out by enabling a frictionless marketplace for intellectual property, empowering creators while fostering sustainable innovation through trustless systems.”

    Real-World Applications and Future Potential

    Story’s applications extend beyond intellectual property to address broader market needs. From tokenized real-world IPs like Bored Ape Yacht Club to royalty-based financial derivatives, its modular framework provides robust solutions for creators and enterprises. Its AI integration further amplifies its scalability, enabling decentralized knowledge economies to thrive.

    For more details of the research, users can visit this LINK.

    About Foresight Ventures

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

    For more information, users can visit: Website | Twitter | LinkedIn | Discord | Linktree

    Contact

    PR team

    Foresight Ventures

    media@foresightventures.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dac580f8-8c12-4c67-8160-89c64194c36f

    The MIL Network –

  • MIL-OSI: Canadian Nuclear Laboratories and Karlsruhe Institute of Technology to Collaborate on Fusion, Materials and Hydrogen Science & Technology

    Source: GlobeNewswire (MIL-OSI)

    CHALK RIVER, Ontario, Dec. 20, 2024 (GLOBE NEWSWIRE) — Canadian Nuclear Laboratories (CNL), Canada’s premier nuclear science and technology organization, is pleased to announce that it has signed an agreement with the Karlsruhe Institute of Technology (KIT), Germany’s premier research institution, to pursue collaborative research related to fusion, materials characterization and hydrogen science and technology. With shared scientific missions to address national priorities in clean energy and environmental sciences, the agreement serves as a framework through which the national research organizations can collaborate in areas of mutual interest, leveraging their individual resources, facilities, and expertise.

    According to terms of the agreement, the organizations will explore collaborative research projects in fields that include tritium analytics, tritium barriers and surface analysis, tritium fuel cycle optimization, characterization and metallurgy of irradiated materials, and hydrogen safety. Working together, the organizations hope to realize important progress in the advancement of these fields of research and others, which are priorities to both country’s domestic clean energy research programs.

    “CNL is a world leader in nuclear science and technology, including hydrogen. We are now working to re-establish ourselves in fusion, which is yielding some very exciting commercial opportunities, and drawing the attention of other leading research organizations who share our goals in clean energy,” commented Dr. Stephen Bushby, CNL’s Vice-President of Science and Technology. “With the signing of this agreement with the Karlsruhe Institute of Technology, a leading German research institution that has complementary capabilities, CNL continues to expand its network and pursue even more ambitious collaborative research. By working together, I think we can help to accelerate these promising fields of study and contribute to much-needed progress in clean energy.”

    “With fusion taking momentum all around the world, Germany investing substantial amounts to promote the cooperation between National Labs and private actors in the field, and KIT being at the centre of fusion technologies and materials development in Germany and in Europe, it is quite straightforward for us to engage in an international cooperation that offers plenty of opportunities for world-leading developments, e.g., in the fusion fuel cycle, hydrogen, and materials areas,” said Dr. Klaus Hesch, Head of KIT´s Fusion Programme. “CNL´s tritium expertise derived from decades of scientifically-technically accompanying and enabling the operation of the CANDU reactors perfectly complements the experience we have acquired in our Tritium Laboratory Karlsruhe with regard to tritium handling and processing for fusion. There is interest to extend the cooperation both towards other fusion companies as well as to the European Fusion Programme.”

    CNL has decades of experience and expertise in materials characterization, hydrogen production, safety and storage, and tritium research, among other related fields of research. The Chalk River campus is also home to a state-of-the-art Tritium Facility and a Hydrogen Isotopes Technology Laboratory, as well as a rapidly growing fusion energy program. Not only did CNL recently announce the expansion of two of its flagship clean energy programs to include fusion – its advanced reactor siting program and the Canadian Nuclear Research Initiative (CNRI) – but CNL also invested $10 million into General Fusion, an international leader in commercial fusion energy. This is in addition to the launch of a new joint venture with Kyoto Fusioneering known as Fusion Fuel Cycles Inc. (FFC), which is moving forward with a globally unique test facility available to industry to test and refine their unique processes.

    All of these projects, programs and resources are complemented by those at KIT, which serves as one of the largest science institutions in Europe, with over 5,000 people conducting research on a broad range of disciplines, from natural sciences to engineering. KIT is also home to research centers that focus on problems of fundamental importance to the existence and further development of society, and on key issues resulting from the striving for knowledge, which includes climate and environment, energy, materials in technical and life sciences, and elementary particle and astroparticle physics, among others. With the agreement now serving as a framework to facilitate collaborative research activities, both organizations believe that it could also act as a first step towards a broader relationship that expands into other fields of research.

    If you’d like to learn more about CNL or its projects in clean energy and environmental sciences, please visit www.cnl.ca. For more information on KIT and its programs of work, please visit www.kit.edu.

    About CNL

    As Canada’s premier nuclear science and technology laboratory and working under the direction of Atomic Energy of Canada Limited (AECL), CNL is a world leader in the development of innovative nuclear science and technology products and services. Guided by an ambitious corporate strategy known as Vision 2030, CNL fulfills three strategic priorities of national importance – restoring and protecting the environment, advancing clean energy technologies, and contributing to the health of Canadians.

    By leveraging the assets owned by AECL, CNL also serves as the nexus between government, the nuclear industry, the broader private sector and the academic community. CNL works in collaboration with these sectors to advance innovative Canadian products and services towards real-world use, including carbon-free energy, cancer treatments and other therapies, non-proliferation technologies and waste management solutions.

    To learn more about CNL, please visit www.cnl.ca.

    About KIT

    Being “The Research University in the Helmholtz Association”, KIT creates and imparts knowledge for the society and the environment. It is the objective to make significant contributions to the global challenges in the fields of energy, mobility, and information. For this, about 10,000 employees cooperate in a broad range of disciplines in natural sciences, engineering sciences, economics, and the humanities and social sciences. KIT prepares its 22,800 students for responsible tasks in society, industry, and science by offering research-based study programs. Innovation efforts at KIT build a bridge between important scientific findings and their application for the benefit of society, economic prosperity, and the preservation of our natural basis of life. KIT is one of the German universities of excellence.

    To learn more about KIT, please visit www.kit.edu.

    CNL Contact:
    Philip Kompass
    Director, Corporate Communications
    1-866-886-2325
    media@cnl.ca

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2147c02c-0c21-421c-8a37-e6f279aeb3ea

    The MIL Network –

  • MIL-OSI United Kingdom: Appointment of Lord Mandelson as the next British Ambassador to the United States of America

    Source: United Kingdom – Executive Government & Departments

    The Prime Minister has today confirmed the appointment of Lord Peter Mandelson to be the next British Ambassador to the United States of America. 

    The Prime Minister has today confirmed the appointment of Lord Peter Mandelson to be the next British Ambassador to the United States of America. 

    His Majesty the King approved the appointment on the recommendation of the Prime Minister and the Foreign Secretary. 

    Lord Mandelson is co-founder of Global Counsel, a global public policy advisory firm. 

    He will bring extensive foreign and economic policy knowledge, strong business links and experience at the highest levels of government to the role – all of which will be crucial as the UK seeks to continue deepening its relationship with one of its closest allies. 

    He will take up the position early next year.

    Prime Minister Keir Starmer said: 

    I am delighted to appoint Lord Mandelson to be the next British Ambassador to the United States of America. 

    The United States is one of our most important allies and as we move into a new chapter in our friendship, Peter will bring unrivalled experience to the role and take our partnership from strength to strength. 

    I would also like to thank Dame Karen Pierce for her invaluable service for the last four years, and in particular the wisdom and steadfast support she has given me personally since July. She made history as the first woman to serve as U.K. Ambassador to the U.S. and she has been an outstanding representative of our country abroad. I wish her all the very best in future.

    Lord Mandelson said: 

    It is a great honour to serve the country in this way. We face challenges in Britain but also big opportunities and it will be a privilege to work with the government to land those opportunities, both for our economy and our nation’s security, and to advance our historic alliance with the United States.

    Foreign Secretary David Lammy said:

    It is wonderful to welcome Peter back to the team. He offers a wealth of experience in trade, economic and foreign policy from his years in government and the private sector. 

    He will arrive in Washington DC as we deepen our enduring alliance with the incoming United States administration, particularly on growth and security.

    Updates to this page

    Published 20 December 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Press release: Appointment of Lord Mandelson as the next British Ambassador to the United States of America

    Source: United Kingdom – Prime Minister’s Office 10 Downing Street

    The Prime Minister has today confirmed the appointment of Lord Peter Mandelson to be the next British Ambassador to the United States of America. 

    The Prime Minister has today confirmed the appointment of Lord Peter Mandelson to be the next British Ambassador to the United States of America. 

    His Majesty the King approved the appointment on the recommendation of the Prime Minister and the Foreign Secretary. 

    Lord Mandelson is co-founder of Global Counsel, a global public policy advisory firm. 

    He will bring extensive foreign and economic policy knowledge, strong business links and experience at the highest levels of government to the role – all of which will be crucial as the UK seeks to continue deepening its relationship with one of its closest allies. 

    He will take up the position early next year.

    Prime Minister Keir Starmer said: 

    I am delighted to appoint Lord Mandelson to be the next British Ambassador to the United States of America. 

    The United States is one of our most important allies and as we move into a new chapter in our friendship, Peter will bring unrivalled experience to the role and take our partnership from strength to strength. 

    I would also like to thank Dame Karen Pierce for her invaluable service for the last four years, and in particular the wisdom and steadfast support she has given me personally since July. She made history as the first woman to serve as U.K. Ambassador to the U.S. and she has been an outstanding representative of our country abroad. I wish her all the very best in future.

    Lord Mandelson said: 

    It is a great honour to serve the country in this way. We face challenges in Britain but also big opportunities and it will be a privilege to work with the government to land those opportunities, both for our economy and our nation’s security, and to advance our historic alliance with the United States.

    Foreign Secretary David Lammy said:

    It is wonderful to welcome Peter back to the team. He offers a wealth of experience in trade, economic and foreign policy from his years in government and the private sector. 

    He will arrive in Washington DC as we deepen our enduring alliance with the incoming United States administration, particularly on growth and security.

    Updates to this page

    Published 20 December 2024

    MIL OSI United Kingdom –

  • MIL-OSI USA: McCaul Commends NDAA Passage, Inclusion of HFAC Provisions

    Source: US House Committee on Foreign Affairs

    Media Contact 202-226-8467

    WASHINGTON — House Foreign Affairs Committee Chairman Michael McCaul released the following statement on the Servicemember Quality of Life Improvement and National Defense Authorization Act (NDAA) for Fiscal Year 2025. The legislation passed the House with broad bipartisan support.

    “America’s adversaries are on the march. Around the world, we continue to see the fallout of the Biden-Harris administration’s disastrous foreign policy agenda, which has empowered tyrants and terrorist groups instead of projecting peace through strength. This year’s NDAA implements commonsense — and necessary — measures to promote U.S. national security, provide pay increases to our veterans, and support our partners and allies around the world while reversing the damaging policies implemented by woke bureaucrats. I am proud to support this bill and ensure our military, servicemembers, and nation are prepared to face the challenges of the 21st century.” — Chairman McCaul

    This year’s NDAA included H.R. 6727, a bill Chairman McCaul introduced with Ranking Member Gregory Meeks (D-N.Y.) to promote public-private conservation efforts and undercut entities that profit from illicit poaching, like Russia and the Chinese Communist Party. Senators Lindsey Graham (R-S.C.) and Chris Coons (D-Del.) led the bill in the Senate.

    “I’m very pleased the NDAA included my historic, bipartisan legislation promoting public-private partnerships to strengthen global conservation efforts and counter the CCP’s malign influence. As chairman, I’ve had the opportunity to travel around the world and see the importance of wildlife conservation firsthand. I’ve witnessed China and various international criminal organizations devastate communities for their own gain, and this bill has the power to undercut malign actors who profit from illicit wildlife trafficking. Conservation efforts have a long history of bipartisan support dating back to Teddy Roosevelt, and I’m glad to see this tradition continue. This foundation is more than just a way to leverage the power of private contributions – it is a diplomatic investment in the U.S. foreign policy toolkit that none of our adversaries can replicate.” — Chairman McCaul

    The bill also included language from Chairman McCaul to ensure the State Department is better organized for crises like the Afghanistan withdrawal by designating a senior official to lead international crises for the department, including non-combatant evacuation operations, and by requiring consistent tabletop exercises in consultation with the Department of Defense. It also includes language from Rep. Warren Davidson’s (R-Ohio) bill, H.R. 4517, bill, H.R. 4517, which requires the State Department to perform a feasibility study regarding reimbursement of private rescue groups who evacuated Americans from Afghanistan.

    “My investigation into the disastrous Afghanistan withdrawal revealed the Biden-Harris administration had the information and opportunity to take necessary steps to plan for the inevitable collapse of the Afghan government, so we could safely evacuate U.S. personnel, Americans, and our loyal Afghan allies. At each step of the way, however, this administration picked optics over security. I am thankful Congress included these critical provisions in the NDAA to ensure our government has the tools it needs to prevent a similar catastrophe. These provisions seek to mitigate the administration’s failure to plan for the inevitable NEO and recognize the tireless efforts of volunteer organizations across the U.S. to bring evacuees to safety. The organizations worked at great expense to themselves – emotionally and financially – and the U.S. government owes them gratitude for their contributions.” — Chairman McCaul

    ###

    MIL OSI USA News –

  • MIL-OSI Economics: How Has Dollarization Served Timor-Leste So Far?

    Source: International Monetary Fund

    Preview Citation

    Format: Chicago

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    Summary

    This paper analyzes Timor-Leste’s historical economic performance and structure under dollarization. It considers several dimensions that determine the benefits and costs of the regime: (i) growth and inflation performance; (ii) business and financial cycle synchronization; (iii) adjustment to external shocks; and (iv) competitiveness. Dollarization has helped Timor-Leste achieve relatively low and stable inflation in the context of post conflict fragility, but may be contributing to weakening competitiveness. Improved performance under dollarization requires reduced fiscal imbalances and advancement of reforms that address structural bottlenecks that also undermine competitiveness.

    Subject: Business cycles, Competition, Conventional peg, Currencies, Dollarization, Economic growth, Exchange rate arrangements, Exchange rate flexibility, Expenditure, Financial markets, Foreign exchange, Inflation, Monetary policy, Money, Prices, Real effective exchange rates

    Keywords: Business cycles, Business cycles, Commodity price fluctuations, Competition, Competitiveness, Conventional peg, Currencies, Dollarization, Dollarization, Exchange rate arrangements, Exchange rate flexibility, Exchange rates, Inflation, Real effective exchange rates

    Publication Details

    MIL OSI Economics –

  • MIL-OSI Canada: Prime Minister announces changes to the Ministry

    Source: Government of Canada – Prime Minister

    The Prime Minister, Justin Trudeau, today announced changes to the Ministry. The new Ministry will deliver on what matters most to Canadians: making life more affordable and growing the economy.

    Building on the work done since 2015 to invest in Canadians, the team will continue to move forward on housing, child care, and school food while working to put more money back in people’s pockets.

    The changes to the Ministry are as follows:

    • Anita Anand becomes Minister of Transport and Internal Trade
    • Gary Anandasangaree becomes Minister of Crown-Indigenous Relations and Northern Affairs and Minister responsible for the Canadian Northern Economic Development Agency
    • Steven MacKinnon becomes Minister of Employment, Workforce Development and Labour
    • Ginette Petitpas Taylor becomes President of the Treasury Board

    The Prime Minister also welcomed the following new members to the Ministry:

    • Rachel Bendayan becomes Minister of Official Languages and Associate Minister of Public Safety
    • Élisabeth Brière becomes Minister of National Revenue
    • Terry Duguid becomes Minister of Sport and Minister responsible for Prairies Economic Development Canada
    • Nate Erskine-Smith becomes Minister of Housing, Infrastructure and Communities
    • Darren Fisher becomes Minister of Veterans Affairs and Associate Minister of National Defence
    • David J. McGuinty becomes Minister of Public Safety
    • Ruby Sahota becomes Minister of Democratic Institutions and Minister responsible for the Federal Economic Development Agency for Southern Ontario
    • Joanne Thompson becomes Minister of Seniors

    These new ministers will work with all members of Cabinet to deliver real, positive change for Canadians. They join the following ministers remaining in their portfolio:

    • Terry Beech, Minister of Citizens’ Services
    • Bill Blair, Minister of National Defence
    • François-Philippe Champagne, Minister of Innovation, Science and Industry
    • Jean-Yves Duclos, Minister of Public Services and Procurement and Quebec Lieutenant
    • Karina Gould, Leader of the Government in the House of Commons
    • Steven Guilbeault, Minister of Environment and Climate Change
    • Patty Hajdu, Minister of Indigenous Services and Minister responsible for the Federal Economic Development Agency for Northern Ontario
    • Mark Holland, Minister of Health
    • Ahmed Hussen, Minister of International Development
    • Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency
    • Marci Ien, Minister for Women and Gender Equality and Youth
    • Mélanie Joly, Minister of Foreign Affairs
    • Kamal Khera, Minister of Diversity, Inclusion and Persons with Disabilities
    • Dominic LeBlanc, Minister of Finance and Intergovernmental Affairs
    • Diane Lebouthillier, Minister of Fisheries, Oceans and the Canadian Coast Guard
    • Lawrence MacAulay, Minister of Agriculture and Agri-Food
    • Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec
    • Marc Miller, Minister of Immigration, Refugees and Citizenship
    • Mary Ng, Minister of Export Promotion, International Trade and Economic Development
    • Harjit S. Sajjan, President of the King’s Privy Council for Canada and Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada
    • Ya’ara Saks, Minister of Mental Health and Addictions and Associate Minister of Health
    • Pascale St-Onge, Minister of Canadian Heritage
    • Jenna Sudds, Minister of Families, Children and Social Development
    • Rechie Valdez, Minister of Small Business
    • Arif Virani, Minister of Justice and Attorney General of Canada
    • Jonathan Wilkinson, Minister of Energy and Natural Resources

    Quote

    “Our team is focused on the things that matter most to you – making life more affordable, growing the economy, and creating good jobs for the middle class. Together, we will keep building a strong future for the middle class, and for all Canadians.”

    Quick Facts

    • Since 2015, the Ministry has made real progress for the middle class and those working hard to join it – from lifting hundreds of thousands of children out of poverty with the Canada Child Benefit to delivering on our promise of $10-a-day child care and the National School Food Program.
    • With the changes announced today, the Ministry retains a total of 38 ministers, in addition to the Prime Minister. In keeping with the precedent set in 2015, there is an equal number of women and men.
    • The Cabinet is the central decision-making forum in government, responsible for its administration and the establishment of its policy. Its members are each responsible for individual portfolios or departments.

    Associated Link

    MIL OSI Canada News –

  • MIL-OSI Security: Denver Man Sentenced for Operating Illegal Gambling Parlor

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    DENVER – The United States Attorney’s Office for the District of Colorado announces that Jonathan Arvay, 38, of Denver, was sentenced to one year and one day in prison after being found guilty by a federal jury on one count of conducting an illegal gambling business and one count of conspiracy to conduct an illegal gambling business.

    According to the facts established at trial, Arvay operated Player One Arcade in Denver, part of a network of gambling parlors extending from Greeley to Pueblo.  These parlors offered several electronic forms of gambling through games made to resemble arcade games, as well as virtual slot machines in which customers attempted to earn credits.  Upon completing their game of choice, customers would exchange any credits won for a purported cryptocurrency, Obsidian Digital Asset Coin (ODAC), whose only function was to be exchanged for cash at an ATM-like “cryptocurrency teller machine” next door to or within the gambling parlor.  Customers were required to pay a transaction fee to exchange the ODAC for U.S. currency.

    “This was a modern version of old-fashioned illegal gambling,” said Acting United States Attorney Matt Kirsch. “I am grateful for our local and federal partners who helped put this criminal in prison.”

    “This sentence reflects an appropriate resolution to a complicated case: When you launder money and commit fraud against the government, the FBI and our partners will track you down across jurisdictions,” said FBI Denver Special Agent in Charge Mark Michalek.

    “IRS-CI remains on the cutting edge of cybercrime investigations as financial crimes continue to become more sophisticated,” said Tom Demeo Acting Special Agent in Charge, IRS Criminal Investigation Denver Field Office. “We are committed to staying one step ahead of criminals and leveraging our partnerships with federal and local law enforcement agencies to protect the U.S. tax system.”

    United States District Judge Gordon P. Gallagher presided over the trial. The FBI Denver Field Division, the IRS Criminal Investigation Denver Field Office, and the Pueblo Police Department conducted the investigation. Assistant United States Attorneys Cyrus Y. Chung, Alison Connaughty, and Jena Neuscheler handled the prosecution.

    Case Number: 23-cr-00222-GPG

    MIL Security OSI –

  • MIL-OSI: MultiversX Foundation Launches AI-Focused Growth Games, a $1.5M Initiative to Accelerate Blockchain and AI Innovation

    Source: GlobeNewswire (MIL-OSI)

    • MultiversX Foundation introduces a $1.5M annual grants program to drive innovation at the intersection of blockchain and AI, two of the biggest technologies of recent years.
    • The program provides milestone-based funding focused on ecosystem activation, expansion and growth.

    VADUZ, Liechtenstein, Dec. 20, 2024 (GLOBE NEWSWIRE) — The MultiversX Foundation has announced the launch of Growth Games, a $1.5 million annual grants program aimed at driving innovation and adoption of blockchain-powered AI products and solutions, such as truth safeguards, highly capable and automated AI agents and more. As the official MultiversX grants program, Growth Games provides structured financial incentives, mentorship, and community engagement to empower developers to bring transformative ideas to life.

    With an annual budget of $1.5 million, Growth Games reflects MultiversX’s commitment to advancing blockchain technology adoption across multiple verticals and use cases. The program is designed to foster a dynamic developer community and promote innovation across critical verticals, including decentralized finance (DeFi), artificial intelligence (AI), infrastructure, and education.

    Growth Games is split into three distinct funding programs:

    • The Build pillar dedicates $750,000 annually to onboard new builders and teams from outside the ecosystem to create applications, tools, and infrastructure using MultiversX technology. By leveraging a Request for Proposal (RFP) model, this program invites innovative projects that enhance infrastructure, develop essential tools, and create impactful applications, The focus is to address critical gaps within the MultiversX ecosystem, enhancing its robustness and completeness.
    • Meanwhile, the Accelerate pillar sets aside $250,000 each year to focus on supporting teams already building within the MultiversX ecosystem, helping them enhance and scale their projects.
    • The final pillar of the program, the xLaunchpad and Co-incubation initiative, allocates $500,000 annually to support over 5 innovative projects, with each eligible for up to $100,000 in funding. In addition to financial support, participants benefit from mentorship, strategic advisory, marketing resources, and community engagement to ensure their success.

    Beyond financial support, Growth Games also drives engagement through hackathons and retroactive contributor grants, ensuring continuous innovation.

    “Growth Games presents an important acceleration milestone for MultiversX and the broader blockchain community,” said Beniamin Mincu, Co-Founder of MultiversX. “This $1.5 million initiative is a call to innovators and builders to build, accelerate, and launch the products that will make our lives better. ”

    To ensure accountability and impact, applications to Growth Games will be evaluated by a dedicated review committee, funding will be distributed based on clear milestones, and recipients will provide regular progress reports detailing their KPIs, achievements, and challenges. This transparent process ensures that every dollar invested contributes to meaningful advancements within the ecosystem.

    Growth Games marks a significant milestone for MultiversX, showcasing its commitment to innovation and its ecosystem’s evolution. By offering $1.5 million in financial incentives and robust support, the program aims to propel blockchain development into a new era, empowering developers to solve complex challenges and redefine what is possible in decentralized technology.

    Applications are open, visit https://multiversx.com/growthgames

    About MultiversX

    MultiversX is a highly scalable public blockchain via sharding, decentralized through 3,200 validator nodes, built to solve the three fundamental problems critical for widespread, global adoption: transition from dial-up to broadband, consumer-friendly experience, and simplicity of self-custody.

    For more information, visit https://multiversx.com.

    Contact

    Alexandru Rus

    Head of Community & CS

    alexandru.rus@multiversx.com

    Disclaimer: This content is provided by MultiversX. 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/9e654142-ff3f-41c6-9431-261095ba18b0

    The MIL Network –

  • MIL-OSI: Volta Finance Limited – Net Asset Value(s) as at 30 November 2024

    Source: GlobeNewswire (MIL-OSI)

    Volta Finance Limited (VTA / VTAS)
    November 2024 monthly report

    NOT FOR RELEASE, DISTRIBUTION, OR PUBLICATION, IN WHOLE OR PART, IN OR INTO THE UNITED STATES

    Guernsey, December 20th, 2024

    AXA IM has published the Volta Finance Limited (the “Company” or “Volta Finance” or “Volta”) monthly report for November 2024. The full report is attached to this release and will be available on Volta’s website shortly (www.voltafinance.com).

    Performance and Portfolio Activity

    Dear Investors,

    Volta Finance achieved a net performance of +2.1% in November bringing the year-to-date return of the portfolio to +20.9%. Both our CLO Debt and our CLO Equity investments benefitted from a supportive macro backdrop and performed favorably.

    The US presidential elections were obviously the main event of the month, with Donald Trump securing a large and undisputed victory. His election boosted global markets despite the concerns about the potential implementation of a shift in US policies in the context of the geopolitical landscape (tariffs) as well as US domestic fiscal guidance. The dollar and US stocks rose sharply while Bitcoin hit all-time highs with a +90% YTD performance. US Treasuries yields also moved higher testing 4.45% and settling at around 4.2% as the CPI reports came broadly in-line with expectations.

    Credit markets were unsurprisingly much stronger over the month and fully benefited from the rally from the broader markets. High Yield indices in Europe (Xover) were roughly 15bps tighter in the +300bps context while US CDX High-Yield tightened by 40bps to +295bps. On the Loan side, Euro Loans closed slightly higher, 45 cents up at c. 98.00px (Morningstar European Leveraged Loan Index), while their US counterparts closed at 97.22px (up +32 cents). With returns of +20.9% Volta Finance continued to outperform broader Credit on a year-to-date basis: US High Yield returned +8.67%, Euro High Yield +7.93% and Global Loans +7.23% (SPLGAL).

    Primary CLO markets remained extremely busy, we recorded circa USD 62bn of issuance in the US and EUR 12bn in Europe. Spreads closed tighter across the capital structure as BB-rated tranches broke the +600bps resistance level in Europe, and tested sub +500bps in the US.

    Loan fundamentals showed no deviation from the path observed since the beginning of year with contained default rates under 1% and a stable proportion of CCC-rated Loans in CLO collateral portfolios (5% in US CLOs and 4% in Europe). Loan repayment rates kept on increasing at 28% in the US (+1% YoY growth rate of the Loan market) and 14% in Europe (+8% YoY market growth).

    The cashflow generation continued to be steady, highlighting the strength of Volta’s risk positioning. Over the last 6 month period, the cashflow generation was stable at c.€29m equivalent of interests and coupons, representing c.21% of November’s NAV on an annualized basis.

    Looking at Volta’s portfolio, two BB-rated debt tranches paid off at Par ($6.5m) with proceeds reinvested into New Issue US BB-rated CLO tranches. Additionally, c. $4m was reinvested across three CLO Equities and profits were taken on a short-dated European Equity to benefit from market strength and improve the portfolio’s maturity profile.

    Over the month, Volta’s CLO Equity tranches returned +2.3% performance** while CLO Debt tranches returned +1.3% performance**, cash representing c.3% of NAV. The fund being c.25% exposed to USD, the recent appreciation of USD vs EUR had a positive impact of +0.7% on the overall performance.

    As of end of November 2024, Volta’s NAV was €279.2m, i.e. €7.63 per share.

    *It should be noted that approximately 4.29% of Volta’s GAV comprises investments for which the relevant NAVs as at the month-end date are normally available only after Volta’s NAV has already been published. Volta’s policy is to publish its NAV on as timely a basis as possible to provide shareholders with Volta’s appropriately up-to-date NAV information. Consequently, such investments are valued using the most recently available NAV for each fund or quoted price for such subordinated notes. The most recently available fund NAV or quoted price was 0.21% as at 31 October 2024, 4.08% as at 30 September 2024.

    ** “performances” of asset classes are calculated as the Dietz-performance of the assets in each bucket, taking into account the Mark-to-Market of the assets at period ends, payments received from the assets over the period, and ignoring changes in cross-currency rates. Nevertheless, some residual currency effects could impact the aggregate value of the portfolio when aggregating each bucket.

    CONTACTS

    For the Investment Manager
    AXA Investment Managers Paris
    François Touati
    francois.touati@axa-im.com
    +33 (0) 1 44 45 80 22

    Olivier Pons
    Olivier.pons@axa-im.com
    +33 (0) 1 44 45 87 30

    Company Secretary and Administrator
    BNP Paribas S.A, Guernsey Branch
    guernsey.bp2s.volta.cosec@bnpparibas.com 
    +44 (0) 1481 750 853

    Corporate Broker
    Cavendish Securities plc
    Andrew Worne
    Daniel Balabanoff
    +44 (0) 20 7397 8900

    *****
    ABOUT VOLTA FINANCE LIMITED

    Volta Finance Limited is incorporated in Guernsey under The Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and the London Stock Exchange’s Main Market for listed securities. Volta’s home member state for the purposes of the EU Transparency Directive is the Netherlands. As such, Volta is subject to regulation and supervision by the AFM, being the regulator for financial markets in the Netherlands.

    Volta’s Investment objectives are to preserve its capital across the credit cycle and to provide a stable stream of income to its Shareholders through dividends that it expects to distribute on a quarterly basis. The Company currently seeks to achieve its investment objectives by pursuing exposure predominantly to CLO’s and similar asset classes. A more diversified investment strategy across structured finance assets may be pursued opportunistically. The Company has appointed AXA Investment Managers Paris an investment management company with a division specialised in structured credit, for the investment management of all its assets.

    *****

    ABOUT AXA INVESTMENT MANAGERS
    AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with 2,700 professionals and €844 billion in assets under management as of the end of December 2023.  

    *****

    This press release is published by AXA Investment Managers Paris (“AXA IM”), in its capacity as alternative investment fund manager (within the meaning of Directive 2011/61/EU, the “AIFM Directive”) of Volta Finance Limited (the “Volta Finance”) whose portfolio is managed by AXA IM.

    This press release is for information only and does not constitute an invitation or inducement to acquire shares in Volta Finance. Its circulation may be prohibited in certain jurisdictions and no recipient may circulate copies of this document in breach of such limitations or restrictions. This document is not an offer for sale of the securities referred to herein in the United States or to persons who are “U.S. persons” for purposes of Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or otherwise in circumstances where such offer would be restricted by applicable law. Such securities may not be sold in the United States absent registration or an exemption from registration from the Securities Act. Volta Finance does not intend to register any portion of the offer of such securities in the United States or to conduct a public offering of such securities in the United States.

    *****

    This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Past performance cannot be relied on as a guide to future performance.

    *****
    This press release contains statements that are, or may deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “anticipated”, “expects”, “intends”, “is/are expected”, “may”, “will” or “should”. They include the statements regarding the level of the dividend, the current market context and its impact on the long-term return of Volta Finance’s investments. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. Volta Finance’s actual results, portfolio composition and performance may differ materially from the impression created by the forward-looking statements. AXA IM does not undertake any obligation to publicly update or revise forward-looking statements.

    Any target information is based on certain assumptions as to future events which may not prove to be realised. Due to the uncertainty surrounding these future events, the targets are not intended to be and should not be regarded as profits or earnings or any other type of forecasts. There can be no assurance that any of these targets will be achieved. In addition, no assurance can be given that the investment objective will be achieved.

    The figures provided that relate to past months or years and past performance cannot be relied on as a guide to future performance or construed as a reliable indicator as to future performance. Throughout this review, the citation of specific trades or strategies is intended to illustrate some of the investment methodologies and philosophies of Volta Finance, as implemented by AXA IM. The historical success or AXA IM’s belief in the future success, of any of these trades or strategies is not indicative of, and has no bearing on, future results.

    The valuation of financial assets can vary significantly from the prices that the AXA IM could obtain if it sought to liquidate the positions on behalf of the Volta Finance due to market conditions and general economic environment. Such valuations do not constitute a fairness or similar opinion and should not be regarded as such.

    Editor: AXA INVESTMENT MANAGERS PARIS, a company incorporated under the laws of France, having its registered office located at Tour Majunga, 6, Place de la Pyramide – 92800 Puteaux. AXA IMP is authorized by the Autorité des Marchés Financiers under registration number GP92008 as an alternative investment fund manager within the meaning of the AIFM Directive.

    *****

    Attachment

    The MIL Network –

  • MIL-OSI: Leishen Energy Holding Co., Ltd. Announces Closing of $5,500,000 Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    Beijing, China, Dec. 20, 2024 (GLOBE NEWSWIRE) — Leishen Energy Holding Co., Ltd. (the “Company” or “Leishen Energy”) (Nasdaq: LSE), a China-based provider of clean-energy equipment and integrated solutions for the oil and gas industry, today announced the closing of its initial public offering (the “Offering”) of 1,375,000 ordinary shares (“Shares”) at a public offering price of $4.00 per Share. The Shares began trading on the Nasdaq Capital Market on December 19, 2024, under the ticker symbol “LSE”.

    The Company received aggregate gross proceeds of $5,500,000 from this Offering, before deducting underwriting discounts and commissions and offering expenses payable by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 206,250 Shares at the public offering price, less the underwriting discount.

    The Company intends to use the net proceeds of the Offering for the construction of a high-tech manufacturing industrial park in the Nanjing Lishui High-tech Development Zone, PRC, for the establishment of its smart manufacturing and new energy R&D center, for the purchase of business equipment and other patented technologies, to strengthen and expand our presence in the PRC Southwest oil and gas market, and to bolster its working capital.

    The offering was conducted on a firm commitment basis. Dominari Securities LLC acted as lead underwriter and Revere Securities LLC as co-underwriter (collectively, the “underwriters”) for the Offering. Sichenzia Ross Ference Carmel LLP acted as U.S. counsel to the Company for the Offering, and VCL Law LLP acted as counsel to the underwriters in connection with the Offering.

    The Shares described above are offered by the Company pursuant to a registration statement on Form F-1, as amended (File Number: 333-282433), that was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on December 18, 2024. The Offering was made only by means of a prospectus, forming a part of the effective registration statement. A copy of the final prospectus relating to the Offering may be obtained from Dominari Securities LLC, 725 Fifth Avenue, 23rd Floor New York, NY 10022, Attention: Eric Newman, or by calling (212) 393-4500 or emailing info@dominarisecurities.com or by logging on to the SEC’s website at www.sec.gov.

    Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offers, solicitations or sales would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Any offers, solicitations, or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

    About Leishen Energy Holding Co., Ltd.

    The Leishen Group was founded in 2007 and is a China-based provider of clean-energy equipment and integrated solutions for the oil and gas industry, with a commitment to providing customers with high-performance, safe and cost-effective energy solutions. Our major lines of business include (i) sale of clean-energy industry; (ii) new energy production and operation; (iii) digitalization and integration equipment; and (iv) oil and gas engineering technical services. At present, the Group holds more than 70 patents and software copyrights, forming a comprehensive ecosystem of core technical capabilities. Currently, our business operations have expanded beyond the PRC to Central Asia, and Southeast Asia, and our service abilities and quality have been widely recognized and praised by foreign customers. Efficient, safe and energy-saving equipment combined with professional technical services have enabled our brand to gain positive attention and recognition from our customers and enabled us to become a well-known equipment and services provider in the oil and gas industry. For more information, please visit the Company’s website: www.r-egroup.com.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company’s share offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the offering will be successfully completed. Investors can find many (but not all) of these statements by the use of words such as “aim”, “anticipate”, “believe”, “estimate”, “expect”, “going forward”, “intend”, “may”, “plan”, “potential”, “predict”, “propose”, “seek”, “should”, “will”, “would” or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

    For more information, please contact:

    Leishen Energy Holding Co., Ltd.

    Investor Relations Department

    Email: ir@r-egroup.com

    The MIL Network –