NewzIntel.com

Category: Economy

  • MIL-OSI: Brown & Brown, Inc. completes the acquisition of Quintes Holding B.V.

    Source: GlobeNewswire (MIL-OSI)

    DAYTONA BEACH, Fla., Nov. 01, 2024 (GLOBE NEWSWIRE) — Brown & Brown, Inc. (NYSE: BRO) (the “Company”) today announced the completion of the previously announced acquisition of the insurance operations of Quintes Holding B.V.

    Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm, delivering risk management solutions to individuals and businesses since 1939. With over 16,000 teammates and 500+ locations worldwide, we are committed to providing innovative strategies to help protect what our customers value most. For more information or to find an office near you, please visit bbinsurance.com.

    This press release may contain certain statements relating to future results which are forward-looking statements, including those associated with this proposed acquisition. Examples of forward-looking statements regarding the acquisition described in this press release include statements regarding the expected benefits of the proposed acquisition, the impact of the proposed acquisition, required regulatory approvals, and the expected timing of the completion of the proposed acquisition. These statements are not historical facts but instead represent only Brown & Brown’s current belief regarding future events, many of which, by their nature, are inherently uncertain and outside of Brown & Brown’s control. It is possible that Brown & Brown’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. These risks and uncertainties include but are not limited to, the risk that regulatory or other approvals required for the proposed acquisition may be delayed or not obtained or are obtained subject to conditions that are not anticipated that could require the exertion of management’s time and resources or otherwise have an adverse effect on Brown & Brown, the possibility that certain conditions to the consummation of the proposed acquisition will not be satisfied or completed on a timely basis and accordingly the proposed acquisition may not be consummated on a timely basis or at all. uncertainty as to Brown & Brown’s expected financial performance following completion of the proposed acquisition, risks related to the integration of the acquired operations, business and assets into Brown & Brown, the possibility that the anticipated benefits of the proposed acquisition are not realized when expected or at all, including as a result of the impact of, or issues arising from, the integration of the acquired operations into Brown & Brown, the risk that unexpected costs will be incurred in connection with the completion and/or integration of the proposed acquisition, the diversion of management’s attention from ongoing business operations and opportunities, unexpected costs, charges or expenses resulting from the proposed acquisition, disruption from the announcement, pendency and/or completion of the proposed acquisition or the integration of the acquired business, including potential adverse reactions or changes to business relationships with customers, employees, suppliers or regulators, making it more difficult to maintain business and operational relationships, competitive responses to the proposed acquisition, and uncertainties as to the timing of the consummation of the proposed acquisition and the ability of each party to consummate the proposed acquisition. Further information concerning Brown & Brown and its business, including factors that potentially could materially affect Brown & Brown’s financial results and condition, as well as its other achievements, is contained in Brown & Brown’s filings with the Securities and Exchange Commission. All forward-looking statements made herein are made only as of the date of this release, and Brown & Brown does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which Brown & Brown hereafter becomes aware.

    For more information:

    R. Andrew Watts
    Chief Financial Officer
    (386) 239-5770

    The MIL Network –

  • MIL-OSI: Bitget’s Survey Reveals Some Users Prefer Influencer Videos Over Whitepapers to Make Trading Choices

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Nov. 01, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has launched a campaign to celebrate Bitcoin’s 16th Whitepaper Day, with a scintillating theme “Who’s Still Reading Whitepapers?”. This initiative seeks to ignite conversations within the crypto community about the current role of whitepapers in blockchain projects and investment decisions. The event is campaigned around the release of Satoshi Nakamoto’s foundational document and offers an opportunity to reconsider how whitepapers are perceived and whether they remain as influential as they once were in guiding investment strategies and project evaluations.

    Survey data gathered by Bitget provides insights into the crypto community’s current views on whitepapers. Of the 5,923 participants surveyed, an overwhelming 92.28% stated that they always read a project’s whitepaper before trading its token, indicating that technical documentation remains crucial for most users. Furthermore, 99.43% of respondents still consider whitepapers necessary, emphasizing their ongoing relevance in establishing a project’s credibility and outlining its foundational principles.

    However, the survey also revealed that key opinion leaders (KOLs) play a dominant role in influencing trading decisions. Among participants who do not always read whitepapers, 86.51% rely on KOL recommendations, while only a small percentage turn to research institutions or personal networks. This highlights a growing trend where influencer-driven insights are beginning to compete with whitepaper-based evaluations, reflecting broader shifts in how information is consumed and trusted in the crypto space.

    Over the years, whitepapers have been regarded as crucial documents for understanding the technical and strategic intentions of blockchain projects. However, with fast-paced developments in the crypto space, there is growing debate over whether these documents are still a vital tool for investors or if alternative methods of evaluation are taking precedence.
    Bitget’s research, supported by surveys and consultations with industry insiders, reveals a range of opinions. Some participants continue to view whitepapers as essential for understanding a project’s foundation and long-term goals. Others argue that the rise of new evaluation metrics, such as market trends, project performance, and development teams, has reduced the reliance on whitepapers, with real-world applications and use cases taking center stage.

    Insights gathered from these discussions indicate a shift in how the crypto community approaches project evaluation. By creating a platform for this discourse, Bitget encourages users and professionals alike to rethink the tools and resources used in assessing blockchain projects today. With Bitcoin Whitepaper Day as the theme, this campaign shows the ongoing changes in the industry, inviting the community to look ahead and consider new approaches to evaluating the industry’s most promising innovations.

    To learn more about Bitcoin Whitepaper Day, check our tweet here.

    About Bitget

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

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

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

    Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fd91260c-97bd-4437-902e-4c75550e371e

    The MIL Network –

  • MIL-OSI Economics: 1 November 2024 Offsite EEF events: new opportunities for Sakhalin economy Adviser to the President of the Russian Federation Anton Kobyakov met with Sakhalin Governor Valery Limarenko in Moscow to discuss long-term cooperation between the Roscongress Foundation and Sakhalin Region on the development of forum and exhibition activities until 2035.

    Source: Eastern Economic Forum

    1 November 2024

    Offsite EEF events: new opportunities for Sakhalin economy

    Adviser to the President of the Russian Federation Anton Kobyakov met with Sakhalin Governor Valery Limarenko in Moscow to discuss long-term cooperation between the Roscongress Foundation and Sakhalin Region on the development of forum and exhibition activities until 2035.

    The strategic partnership will require mechanisms for promoting Sakhalin’s investment potential and environmental, climate, energy, and technology projects in the region. Joint efforts will focus on organizing national and international forums and exhibitions in Yuzhno-Sakhalinsk at Sakhalin-Tech Technopark and Pushisty Drone Port to be managed by the Roscongress Foundation. Plans to sign a Long-Term Cooperation Agreement are in the works.

    “Russia places strategic importance in developing and strengthening the Far East. As the world order changes and the centre of global business activity shifts to the Asia-Pacific region, the Far East gains in importance for the Russian economy and solidifies its global position. There is enormous potential for new projects and new industries in the region and no limit to possibilities for international cooperation. New approaches and combined efforts are required to realize this potential. I believe the Roscongress Foundation has the expertise and Sakhalin Region the potential to create opportunities for investment that will attract partners to contribute to its development,” Adviser to the President of the Russian Federation Anton Kobyakov said.

    Meeting discussions focused first on the programme of offsite events for the Eastern Economic Forum (EEF), indeed, an agreement to cooperate was first reached between the Roscongress Foundation and Sakhalin on the sidelines of the EEF in September 2024.

    Sakhalin Region is important to the Far East, has great potential, and must transition from an overdependence on resources to a model of increased self-development. The transition will depend on programmes to improve investment attractiveness and quality of life. One such ambitious project is the New City, dedicated to sustainable development, digitalization, and environmental responsibility, with a master plan calling for the creation of cultural, business, research, and production spaces, including buildings for congress and exhibition events.

    “The construction of a modern 20,000-square-meter EXPO centre and cooperation with the Roscongress Foundation will equip us to hold top-notch international events, and the city’s unique infrastructure is already creating opportunities for programmes related to the development of unmanned aviation and energy. I have no doubt that our work together will create a professional platform that attracts investment to the region and shows to the world the full potential of Sakhalin Region to develop advanced technologies and skillfully balance nature preservation and human activity,” Sakhalin Governor Valery Limarenko said.

    Discussion also focused on the ‘BRICS Sustainable Development: Environment and Climate’ International Forum slated to take place in May 2025 with the participation of representatives of BRICS and its partners. The event will focus on environmental and climate issues and how to achieve carbon neutrality. The Forum will be a place to come and discuss environmental issues, share experience, and develop joint projects to combat climate change. The choice of region to host the Forum was no accident with its proximity to the Asia-Pacific region and ambitious carbon neutral goals for the end of 2025 creating unique conditions for programmes balancing the environment and energy industry.

    The Far Eastern Energy Forum, also scheduled for next year, is a platform for discussing issues of regional development and establishing a Russian energy security outpost. Sakhalin is an essential Russian producer and processer of hydrocarbons and is actively introducing new forms of energy.

    The Far East is becoming a centre for the development of unmanned systems and technologies. Unmanned systems are an efficient, cost-effective solution for logistics and monitoring vast expanses, complex infrastructure, and the development of extractive industries. As meeting participants noted, the necessary prerequisites are all there for international cooperation and an exchange of experience at the International ‘Unmanned Systems’ Forum and Exhibition. Sakhalin’s Pushisty Drone Port has been earmarked as a place for experts to meet with the authorities and representatives of business.

    Meeting participants decided the best way to coordinate cooperation under the agreements would be to establish an Organizing Committee under the leadership of Sakhalin Governor Valery Limarenko and a permanent joint Sakhalin Government and Roscongress Foundation working group under the leadership of Sakhalin Region Government Chairman Alexey Belik and First Deputy CEO of the Roscongress Foundation and EEF Director Igor Pavlov.

    An important component of cooperation will include a briefing by Sakhalin Governor Valery Limarenko on infrastructure projects for territorial development on the sidelines of EEF 2025, where the results of work accomplished can be considered with a place for further discussion. The Governor’s participation in the Governors’ Club and Lounge at Roscongress Foundation events throughout the year will strengthen cooperation with other regions and create additional opportunities to share experience solving urgent problems.

     

     

    Read more

    MIL OSI Economics –

  • MIL-OSI Video: The financial fallout from a warming world

    Source: European Central Bank (video statements)

    Climate change and nature loss are affecting all aspects of our lives, including our economies . What is the latest research telling us, and what is the cost to the economy? Stefania Secola talks to Executive Board member Frank Elderson and Deputy Director General and researcher Livio Stracca about how rising physical risks will affect our economies.

    The views expressed are those of the speakers and not necessarily those of the European Central Bank.

    This episode was recorded before the tragic floods in Spain.

    Published on 1 November.

    In this episode:
    01:42 Floods, wildfires and droughts
    How do climate change and nature degradation affect our economies? And how high was the economic loss caused by recent extreme weather events ?
    05:52 Catastrophe insurance
    What is it? How many people have it? And what does it mean for our preparedness if disaster were to strike?
    06:57 Adapting to a changing economy
    It’s clear that our environment is changing. How can we adapt our activities in the face of these changes?
    10:05 The Network for Greening the Financial System
    What is it, and what does it do? And what does it have to do with central banks and supervisors?
    12:32 How do climate change and nature loss affect our economies?
    How much higher are the expected losses than we previously thought? What’s the latest scientific research telling us?
    14:58 Climate messages during the Conference of the Parties (COP) meetings
    Which topics need more attention? And what can we do about it?
    19:19 Our guests’ hot tips

    Further reading:

    The impact of climate change and policies on productivity
    https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op340~0173592e52.en.pdf

    Policy options to reduce the climate insurance protection gap
    https://www.ecb.europa.eu/pub/pdf/other/ecb.policyoptions_EIOPA~c0adae58b7.en.pdf

    Managing climate-related risks
    https://www.ecb.europa.eu/ecb/climate/managing_mitigating_climatel_risk/html/index.en.html

    Living in a world of disappearing nature: physical risk and the implications for financial stability
    https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op333~1b97e436be.en.pdf

    What to do about Europe’s climate insurance gap
    https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog.230424~4cdc3a38ba.en.html

    Failing to plan is planning to fail – why transition planning is essential for banks
    https://www.bankingsupervision.europa.eu/press/blog/2024/html/ssm.blog240123~5471c5f63e.en.html

    The climate insurance protection gap
    https://www.ecb.europa.eu/ecb/climate/climate/html/index.en.html

    The Network for Greening the Financial System
    https://www.ngfs.net/en

    Measuring economic losses caused by climate change
    https://cepr.org/voxeu/columns/measuring-economic-losses-caused-climate-change

    “Know thyself” – avoiding policy mistakes in light of the prevailing climate science
    https://www.bankingsupervision.europa.eu/press/speeches/date/2024/html/ssm.sp240412~c256dc168c.en.html

    Hothouse Earth by Gill McGuire
    https://www.google.com/search?safe=active&sca_esv=0d2d5197637c41d9&rlz=1C1GCEA_enDE1060DE1060&q=hothouse+earth+bill+mcguire&udm=3&fbs=AEQNm0Aa4sjWe7Rqy32pFwRj0UkWd8nbOJfsBGGB5IQQO6L3J_86uWOeqwdnV0yaSF-x2jqw-AzvpDFRWNmLZKilfTrfO0pl9dtT9e2t2elzSdzPviJlaPtdkm_zev73LcACj_Zt3WoLu1loKbhUBQ0BvD6_OC9OERnpW26hAPVqw_fTJrjRkQgEJf5SXlzvVj2JhcxyIvER&sa=X&ved=2ahUKEwi2yfiVobGJAxX6_7sIHZckMjAQs6gLegQIExAB&biw=1280&bih=665&dpr=1.5

    Climate Change 2023 Synthesis Report
    https://www.ipcc.ch/report/ar6/syr/downloads/report/IPCC_AR6_SYR_LongerReport.pdf

    Headline statements of the Synthesis Report https://www.ipcc.ch/report/ar6/syr/resources/spm-headline-statements

    Climate Change 2023: Synthesis Trailer

    European Central Bank
    https://www.ecb.europa.eu

    European Banking Supervision
    https://www.bankingsupervision.europa.eu/home/html/index.en.html

    https://www.youtube.com/watch?v=4tFK4nywepA

    MIL OSI Video –

  • MIL-OSI United Kingdom: World Championship esports event to deliver £12m boost to London’s economy

    Source: Mayor of London

    • London will host the League of Legends World Championship this weekend – one of the biggest and most popular esports events in the world.
    • The O2 arena’s tickets sold out in minutes and millions are set to watch from around the world.
    • The Mayor continues to support London’s thriving games and esports industry bringing significant investment and jobs to the capital.

    London will host the League of Legends World Championship this weekend – one of the biggest and most popular esports events in the world.

    The O2 arena’s tickets sold out in minutes and millions are set to watch from around the world.
    The Mayor continues to support London’s thriving games and esports industry bringing significant investment and jobs to the capital.
     
    One of esports biggest global events, the League of Legends World Championship finals, will take place at London’s O2 Arena tomorrow (Saturday 2 November) – boosting the capital’s economy and cementing its position as leading destination for sports and esports.
     
    The Mayor of London, Sadiq Khan, has today welcomed the finals to the capital and celebrated the impact of the growing industry. It will be the largest esports event ever to take place in the UK and will bring more opportunities for growth, talent development and skills for young Londoners. 
     
    Thousands of fans from all over the world are expected to head to the O2 tomorrow to watch, with London’s business growth and destination agency London & Partners calculating a £12m boost to the London economy from hosting the finals. Millions more are set to watch online – showcasing the capital. 
     
    League of Legends is a multiplayer online battle arena game that pits two teams of five against each other. The World Championships, known as ‘Worlds’, were launched in 2009 and have grown to be the most anticipated event of the year in esports. Last year’s finals were held in South Korea. It is the latest major esports event that London has hosted, after welcoming the League of Legends Mid-Season Invitational to the Copper Box Arena in Queen Elizabeth Olympic Park last year. 
     
    London is home to largest group of games studios in Europe and esports is a growing market offering huge potential for London’s businesses and communities. The Mayor is a big supporter of the games industry, which generates millions of pounds for our economy and is a growing force. His support includes funding Games London who run the UK’s only Games Production Finance Market which brings in new investment to help games businesses grow, and delivers the annual London Games Festival. Through work with London & Partners, Sadiq has also helped to bring esports events to London.
     
    Earlier this week, City Hall convened a panel discussion with key industry leaders and partners Fnatic – a leading esports brand – and London & Partners. Deputy Mayor for Business and Growth, Howard Dawber opened the event at the Fnatic HQ to champion esports and explore ways to further support esports in the capital. City Hall has also commissioned Arena Consultancy to conduct a new piece of research to gain a deeper understanding of what more London needs to do to become a global centre for esports. 
     
    The League of Legends World Championship is the latest in a series of global events to take place in London this year, including the UEFA Champions League final, European Professional Club Rugby Finals, NFL, Major League Baseball and Diamond League athletics. 
     
    The Mayor of London, Sadiq Khan, said: “I am delighted that the League of Legends World Championship finals are taking place in the capital this weekend. The event brings together gamers and fans from across the globe, boosting our economy by £12m and showing that London is a leading destination for sports and esports. Gaming is a hugely exciting and fast growing industry, and I will continue to do all I can to support its development and growth in the capital, as we build a better London for everyone.”
     
    Ailsa Buck, Head of Major Events and City Experience at London & Partners, said: “We’re thrilled to host the League of Legends World Championship Finals. The excitement is electric and we can’t wait for fans to have an unforgettable experience in the capital. Hosting such a huge esports event shows that London is a top destination for the industry. Tickets flew off the shelves in minutes. That tells us there’s a huge demand for more esports in the city. We’re ready to make this day special for everyone.”  

    Sam Mathews, CEO at Fnatic, said: “Partnering with the GLA and London & Partners to bring this event to life is an exciting step for Fnatic and esports in London. As one of the world’s leading esports organizations, Fnatic has always pushed boundaries—and there’s no better place to showcase that than in our home city. London’s support shows a real commitment to making this city a global hub for gaming. We’re looking forward to creating an unforgettable experience for our fans and the community right here and forging the future of esports in the city.”

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: HKSAR Government welcomes first batch of brokers joining Cross-boundary Wealth Management Connect

    Source: Hong Kong Government special administrative region

         The China Securities Regulatory Commission and the Securities and Futures Commission of Hong Kong issued announcements respectively today (November 1) on the first batch of brokers eligible to participate in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) Cross-boundary Wealth Management Connect Pilot Scheme (Wealth Management Connect). The Hong Kong Special Administrative Region (HKSAR) Government welcomed the announcements.
     
         Fourteen licensed corporations in Hong Kong have been included in the first batch of brokers to offer cross-boundary investment services for GBA investors. They will work in partnership with their Mainland partner brokers as confirmed by the China Securities Regulatory Commission.
     
         A spokesman for the HKSAR Government said, “In accordance with the National 14th Five-Year Plan, the HKSAR Government strives to deepen and widen the mutual access between the Mainland and Hong Kong financial markets. The Wealth Management Connect has been growing steadily since its launch in September 2021. The enhancement measures commencing on February 26 this year have received enthusiastic market response. With the first batch of brokers joining the Wealth Management Connect, the demand for asset allocation by GBA residents can be better satisfied, thereby engendering increased development opportunities for the industry. This also strengthens Hong Kong’s status as an international asset management centre, and contributes to our country’s opening up of the financial market in a sustained and orderly manner. We welcome today’s announcements and are grateful for the unwavering efforts of the Mainland and Hong Kong regulators.”

    MIL OSI Asia Pacific News –

  • MIL-OSI: Bitfarms Provides October 2024 Production and Operations Update

    Source: GlobeNewswire (MIL-OSI)

    – Earned 236 BTC in October 2024 & Increased Bitcoin Treasury to 1,188 BTC –

    This news release constitutes a “designated news release” for the purposes of the Company’s amended and restated prospectus supplement dated October 4, 2024, to its short form base shelf prospectus dated November 10, 2023.

    TORONTO, Nov. 01, 2024 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global leader in vertically integrated Bitcoin data center operations, today announced its latest monthly production report. All financial references are in U.S. dollars.

    In October, Bitfarms announced a second hosting agreement with Stronghold Digital Mining, Inc. (“Stronghold”) that will deploy 10,000 miners, originally scheduled for Yguazu, Paraguay, to Stronghold’s Scrubgrass site. This follows an initial hosting agreement for 10,000 miners signed in September for a total of 20,000 miners to be deployed at Stronghold’s two sites in Pennsylvania. The two hosting agreements support approximately 4 EH/s with energization expected in several tranches over the coming months.

    CEO Ben Gagnon stated, “While we are pleased to have reached our year-end efficiency goal of 21 w/TH three months ahead of schedule, we recognize that we are behind schedule on delivering our mid-year 12 EH/s target. Despite improvements in recent miner shipments, continued miner warranty servicing has impeded the achievement of our hash rate target. We have a strong partnership with Bitmain and appreciate their diligence in rapidly servicing the underperforming miners as deliveries are scheduled to accelerate in the last two months of the year.”

    Mining Review
    October mining operations generated 236 BTC compared to 217 BTC in September reflecting a 3% increase in average operating EH and an 8% increase in Bitcoin difficulty during the month.

    Key Performance Indicators October 2024 September 2024 October 2023
    Total BTC earned 236 217 398
    Month End Operating EH/s 11.5 11.3 6.3
    BTC/Avg. EH/s 22 21 67
    Average Operating EH/s 10.6 10.3 5.9
    Operating Capacity (MW) 310 310 240
    Hydropower (MW) 256 256 186
    Watts/Terahash Efficiency (w/TH) 21 21 35
    BTC Sold 194 173 341


    October 2024 Select Operating Highlights

    • 11.5 EH/s operational at October 31, 2024, up 83% Y/Y.
    • 10.6 EH/s average operational, up 80% Y/Y and up 3% M/M.
    • 22.2 BTC/average EH/s, up 5% M/M and 67% lower Y/Y.
    • 236 BTC earned, up 9% M/M and 41% lower Y/Y.
    • 7.6 BTC earned daily on average, equal to ~$540,000 per day based on a BTC price of $71,000 at October 31, 2024.

    Bitfarms’ BTC Monthly Production

    Month BTC Earned 2024 BTC Earned 2023
    January 357 486
    February 300 387
    March 286 424
    April 269 379
    May 156 459
    June 189 385
    July 253 378
    August 233 383
    September 217 411
    October 236 398
    YTD Totals 2,496 4,090


    October 2024 Financial Update

    • Sold 194 of the 236 BTC earned as part of the Company’s regular treasury management practice for total proceeds of $13.0 million.
    • Added 42 BTC, bringing Treasury to 1,188 BTC, up from 1,147 BTC last month and representing $84.3 million based on a BTC price of $71,000 at October 31, 2024. 
    • Synthetic HODL™ of 802 long-dated BTC call options at October 31, 2024, up from 602 at the end of the prior month.

    Upcoming Conferences and Events

    • November 13-14: Cantor Crypto, Digital Assets & AI Infrastructure Conference (Miami)
    • November 19-20: ROTH Technology Conference (NYC)
    • November 20: Special Meeting of Bitfarms Shareholders (Virtual)
    • December 4: B. Riley Crypto & Energy Infrastructure Conference (NYC)
    • December 12: Northland Growth Conference (Virtual)
    • January 14-15, 2025: Needham Growth Conference (NYC)

    About Bitfarms Ltd.

    Founded in 2017, Bitfarms is a global vertically integrated Bitcoin data center company that contributes its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated mining facilities with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Company’s proprietary data analytics system delivers best-in-class operational performance and uptime.

    Bitfarms currently has 12 operating Bitcoin data centers and two under development, as well as hosting agreements with two data centers, in four countries: Canada, the United States, Paraguay, and Argentina. Powered predominantly by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

    To learn more about Bitfarms’ events, developments, and online communities:

    www.bitfarms.com
    https://www.facebook.com/bitfarms/
    https://twitter.com/Bitfarms_io
    https://www.instagram.com/bitfarms/
    https://www.linkedin.com/company/bitfarms/

    Glossary of Terms

    • Y/Y or M/M= year over year or month over month
    • BTC or BTC/day = Bitcoin or Bitcoin per day
    • EH or EH/s = Exahash or exahash per second
    • MW or MWh = Megawatts or megawatt hour
    • w/TH = Watts/Terahash efficiency (includes cost of powering supplementary equipment)
    • Synthetic HODL™ = the use of instruments that create BTC equivalent exposure

    Forward-Looking Statements

    This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. The statements and information in this release regarding the impact of the Stronghold hosting agreements, projected growth, target hashrate, opportunities relating to the Company’s geographical diversification and expansion, deployment of miners as well as the timing therefor, closing of the Stronghold acquisition on a timely basis and on the terms as announced, , the ability to gain access to additional electrical power and grow hashrate of the Stronghold business, performance of the plants and equipment upgrades and the impact on operating capacity including the target hashrate and multi-year expansion capacity, the opportunities to leverage Bitfarms’ proven expertise to successfully enhance energy efficiency and hashrate, and other statements regarding future growth, plans and objectives of the Company are forward-looking information.

    Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “prospects”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

    This forward-looking information is based on assumptions and estimates of management of Bitfarms at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Bitfarms to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors, risks and uncertainties include, among others: receipt of the approval of the shareholders of Stronghold and the Toronto Stock Exchange for the Stronghold acquisition as well as other applicable regulatory approvals; that the Stronghold acquisition may not close within the timeframe anticipated or at all or may not close on the terms and conditions currently anticipated by the parties for a number of reasons including, without limitation, as a result of a failure to satisfy the conditions to closing of the Stronghold acquisition; the construction and operation of new facilities may not occur as currently planned, or at all; expansion of existing facilities may not materialize as currently anticipated, or at all; new miners may not perform up to expectations; revenue may not increase as currently anticipated, or at all; the ongoing ability to successfully mine digital currency is not assured; failure of the equipment upgrades to be installed and operated as planned; the availability of additional power may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the power purchase agreements and economics thereof may not be as advantageous as expected; potential environmental cost and regulatory penalties due to the operation of the Stronghold plants which entail environmental risk and certain additional risk factors particular to the business of Stronghold including, land reclamation requirements may be burdensome and expensive, changes in tax credits related to coal refuse power generation could have a material adverse effect on the business, financial condition, results of operations and future development efforts, competition in power markets may have a material adverse effect on the results of operations, cash flows and the market value of the assets, the business is subject to substantial energy regulation and may be adversely affected by legislative or regulatory changes, as well as liability under, or any future inability to comply with, existing or future energy regulations or requirements, the operations are subject to a number of risks arising out of the threat of climate change, and environmental laws, energy transitions policies and initiatives and regulations relating to emissions and coal residue management, which could result in increased operating and capital costs and reduce the extent of business activities, operation of power generation facilities involves significant risks and hazards customary to the power industry that could have a material adverse effect on our revenues and results of operations, and there may not have adequate insurance to cover these risks and hazards, employees, contractors, customers and the general public may be exposed to a risk of injury due to the nature of the operations, limited experience with carbon capture programs and initiatives and dependence on third-parties, including consultants, contractors and suppliers to develop and advance carbon capture programs and initiatives, and failure to properly manage these relationships, or the failure of these consultants, contractors and suppliers to perform as expected, could have a material adverse effect on the business, prospects or operations; the digital currency market; the ability to successfully mine digital currency; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power to operate cryptocurrency mining assets; the risks of an increase in electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which Bitfarms and Stronghold operate and the potential adverse impact on profitability; future capital needs and the ability to complete current and future financings, including Bitfarms’ ability to utilize an at-the-market offering program ( “ATM Program”) and the prices at which securities may be sold in such ATM Program, as well as capital market conditions in general; share dilution resulting from an ATM Program and from other equity issuances; volatile securities markets impacting security pricing unrelated to operating performance; the risk that a material weakness in internal control over financial reporting could result in a misstatement of financial position that may lead to a material misstatement of the annual or interim consolidated financial statements if not prevented or detected on a timely basis; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; and the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to Bitfarms’ filings on www.sedarplus.ca (which are also available on the website of the U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov), including the MD&A for the year-ended December 31, 2023, filed on March 7, 2024 and the MD&A for the three and six months ended June 30, 2024 filed on August 8, 2024, and its registration statement on Form F-4 (File No. 333-282657) filed by Bitfarms with the SEC (the “registration statement”), which includes a proxy statement of Stronghold that also constitutes a prospectus of Bitfarms (the “proxy statement/prospectus”). Although Bitfarms has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended, including factors that are currently unknown to or deemed immaterial by Bitfarms. There can be no assurance that such statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. Bitfarms does not undertake any obligation to revise or update any forward-looking information other than as required by law. Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange, Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.

    Additional Information about the Merger and Where to Find It

    This communication relates to a proposed merger between Stronghold and Bitfarms. In connection with the proposed merger, Bitfarms intends to file with the SEC a registration statement on Form F-4, which will include a proxy statement of Stronghold that also constitutes a prospectus of Bitfarms. After the registration statement is declared effective, Stronghold will mail the proxy statement/prospectus to its shareholders. This communication is not a substitute for the registration statement, the proxy statement/prospectus or any other relevant documents Bitfarms and Stronghold has filed or will file with the SEC. Investors are urged to read the proxy statement/prospectus (including all amendments and supplements thereto) and other relevant documents filed with the SEC carefully and in their entirety if and when they become available because they will contain important information about the proposed merger and related matters.

    Investors may obtain free copies of the registration statement, the proxy statement/prospectus and other relevant documents filed by Bitfarms and Stronghold with the SEC, when they become available, through the website maintained by the SEC at www sec.gov. Copies of the documents may also be obtained for free from Bitfarms by contacting Bitfarms’ Investor Relations Department at investors@bitfarms.com and from Stronghold by contacting Stronghold’s Investor Relations Department at SDIG@gateway-grp.com.

    No Offer or Solicitation

    This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy, sell or solicit any securities or any proxy, vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

    Participants in Solicitation Relating to the Merger

    Bitfarms, Stronghold, their respective directors and certain of their respective executive officers may be deemed to be participants in the solicitation of proxies from Stronghold’s shareholders in respect of the proposed merger. Information regarding Bitfarms’ directors and executive officers can be found in Bitfarms’ annual information form for the year ended December 31, 2023, filed on March 7, 2024, as well as its other filings with the SEC. Information regarding Stronghold’s directors and executive officers can be found in Stronghold’s proxy statement for its 2024 annual meeting of stockholders, filed with the SEC on April 29, 2024, and supplemented on June 7, 2024, and in its Form 10-K for the year ended December 31, 2023, filed with the SEC on March 8, 2024. This communication may be deemed to be solicitation material in respect of the proposed merger. Additional information regarding the interests of such potential participants, including their respective interests by security holdings or otherwise, will be set forth in the proxy statement/prospectus and other relevant documents filed with the SEC in connection with the proposed merger if and when they become available. These documents are available free of charge on the SEC’s website and from Bitfarms and Stronghold using the sources indicated above.

    Investor Relations Contacts:

    Bitfarms
    Tracy Krumme
    SVP, Head of IR & Corp. Comms.
    +1 786-671-5638
    tkrumme@bitfarms.com

    Media Contacts:

    Québec: Tact
    Louis-Martin Leclerc
    +1 418-693-2425
    lmleclerc@tactconseil.ca

    The MIL Network –

  • MIL-OSI Canada: Canadians encouraged to talk money as FCAC launches Financial Literacy Month 2024

    Source: Government of Canada News (2)

    Canadians encouraged to talk money as FCAC launches Financial Literacy Month 2024

    November 1, 2024
    Ottawa, Ontario

    November is Financial Literacy Month. This year, the Financial Consumer Agency of Canada (FCAC) is launching a Canada-wide campaign to destigmatize conversations about money.

    Many Canadians find it difficult to discuss money and finances with family and friends for fear of being judged. To overcome this taboo, FCAC is encouraging Canadians to share their financial experiences with family and friends, ask questions, and consult with trusted financial professionals.

    Research shows that having conversations about money builds financial confidence, and that can lead to better financial outcomes. This is especially true for girls and women. For example, FCAC’s research with Carleton University (to be released later this month) shows that providing space for women to talk about finances was enough to help them feel more financially empowered. Conversations about money can also help people learn about resources that can help them improve their financial situation and achieve their financial goals.

    This November, FCAC is asking Canadians to do one thing to boost their financial knowledge – such as checking their credit score, talking to a friend about budgeting or using FCAC’s free tools and resources – then share their experience and encourage others to do the same. FCAC reminds people to protect their personal financial information such as their bank account number and credit card details.  

    Canadians can visit the Financial Literacy Month campaign page for more information and for free financial tools and resources. FCAC also has a promotional toolkit to help stakeholders get involved in this year’s campaign. 

    Financial Literacy Month is an important opportunity to advance FCAC’s National Financial Literacy Strategy, a 5-year plan to create a more accessible, inclusive and effective financial ecosystem for Canadians. This year’s campaign supports the priorities of the National Strategy by helping Canadians build financial confidence and navigate the financial marketplace, as well as enhancing access to trustworthy and affordable financial help.

    On November 4, FCAC will host a virtual event to launch Financial Literacy Month. The event will feature Olympic gold medallist Bruny Surin, Sara Weller, Chair of the U.K.’s Money and Pension Service, and other special guests. Registration is now open.

    “This year, FCAC and its Financial Literacy Month partners across the country are harnessing the transformative power of conversations. Talking helps us connect and learn from each other, and is an important way to share information. This Financial Literacy Month, let’s break the taboo against talking about money. Having conversations about money with people you trust can build financial confidence and open the door to positive financial outcomes. This November, we hope that Canadians from coast-to-coast-to-coast will join us in talking about money and take steps to build their financial knowledge and confidence.” 

    Werner Liedtke, Interim Commissioner, Financial Consumer Agency of Canada

    MIL OSI Canada News –

  • MIL-OSI Asia-Pac: Digital transformation of rural India for inclusive growth

    Source: Government of India (2)

    Digital transformation of rural India for inclusive growth

    Empowering Rural India: 4,740 Digital India Common Service Centers to be set up for driving digital access and economic growth

    DICSCs being established across India; Pilibhit and Gorakhpur leading the way as DICSC Project is set to be rolled out with nearly 2000 centers there

    E-governance, financial, education and telemedicine services to be brought closer to villages by equipping them with High-Speed Internet and essential services

    Posted On: 01 NOV 2024 12:59PM by PIB Delhi

    In a significant move to bridge the digital divide in rural India and ensure that digital services reach every citizen, the Ministry of Electronics and Information Technology (MeitY) is launching the Digital India Common Service Center (DICSC) project, starting with Pilibhit and Gorakhpur. This initiative will establish one model DICSC center in nearly all gram panchayats across 10 districts, totaling 4,740 centers nationwide.

     

    DICSC across India

    Specifically, Pilibhit will see the establishment of 720 DICSC centers, while Gorakhpur (Uttar Pradesh) will have 1,273 centers. Additional locations include Chhatrapati Sambhajinagar (old Aurangabad, Maharashtra) with 870 centers, Chamba (Himachal Pradesh) with 309, Khammam (Telangana) with 589, Gandhinagar (Gujarat) with 288, Mamit (Mizoram) with 100, Jodhpur (Rajasthan) with 415, Leh (Ladakh) with 95, and Puducherry state with 81 DICSC centers. The implementation and centralized technical monitoring of these centers will be managed by CSC e-Governance Services India Limited.

    With a budget of ₹3,160.88 lakh, the project is set to run initially for six months, with the possibility of extending it to nine months. The primary goal is to create an integrated platform that provides essential e-governance services along with financial and commercial services to rural citizens. The CSC centers in Pilibhit will offer a variety of services including Aadhaar registration, banking, financial planning, tele-law, telemedicine, education, and e-commerce support.

    High speed internet to drive growth

    Each CSC will be equipped with high-speed broadband connectivity and modern infrastructure to function as a multi-functional service center. This project aims to empower Village Level Entrepreneurs (VLEs), fostering local economic growth and creating job opportunities. The initiative will also ensure transparent and sustainable service delivery through centralized technical monitoring.

    Additionally, GPS-enabled mobile vans will be deployed to promote government schemes and deliver essential services directly to remote areas. This comprehensive approach is expected to significantly enhance digital literacy and improve access to services in both Pilibhit and Gorakhpur.

    The DICSC project is set to transform these regions by providing critical digital services that empower local entrepreneurs and promote inclusive growth. By addressing the digital divide and enhancing access to essential services, this initiative aims to uplift the economic conditions of Pilibhit and Gorakhpur, integrating them into the broader digital economy.

     

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    Dharmendra Tewari/Kshitij Singha

    (Release ID: 2070062) Visitor Counter : 28

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Robust Growth in Production of Key Minerals and non-ferrous Metals in the First Half of FY 2024-25

    Source: Government of India

    Posted On: 01 NOV 2024 11:32AM by PIB Delhi

    Production of some key minerals in the country has continued to witness strong growth during FY 2024-25, after reaching record production levels in FY 2023-24. Iron ore account for about 70% of the total MCDR mineral production by value. Production of iron ore was 274 million metric tonne (MMT) in FY 2023-24.

    As per provisional data, production of iron ore has increased from 128 MMT in FY 2023-24 (April-September) to 135 MMT in FY 2024-25 (April-September), showing a healthy 5.5% growth. Production of manganese ore has risen by 6.2% to 1.7 MMT in FY 2024-25 (April-September) from 1.6 MMT during the corresponding period of previous year.  

    In the non-ferrous metal sector, primary aluminium production in FY 2024-25 (April-September) posted a growth of 1.2% over the corresponding period last year, increasing to 20.90 lakh ton (LT) in FY 2024-25 (April-September) from 20.66 LT in FY 2023-24 (April-September). During the same comparative period, refined copper production has grown by 4.6% from 2.39 LT to 2.50 LT.

    India is the 2nd largest aluminium producer, among top-10 producer in refined copper and 4th largest iron ore producer in the world. Continued growth in production of iron ore in the current financial year reflects the robust demand conditions in the user industry viz. steel. Coupled with growth in aluminium and copper, these growth trends point towards continued strong economic activity in user sectors such as energy, infrastructure, construction, automotive and machinery.

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    ST

    (Release ID: 2069999) Visitor Counter : 22

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Prime Minister condoles passing away of Indian Economist and Chairman of Economic Advisory Council Dr. Bibek Debroy

    Source: Government of India (2)

    Posted On: 01 NOV 2024 11:09AM by PIB Delhi

    The Prime Minister, Shri Narendra Modi has condoled the passing away of Indian Economist and Chairman of Economic Advisory Council to the Prime Minister, Dr. Bibek Debroy.   

    The Prime Minister posted on X:

    “Dr. Bibek Debroy Ji was a towering scholar, well-versed in diverse domains like economics, history, culture, politics, spirituality and more. Through his works, he left an indelible mark on India’s intellectual landscape. Beyond his contributions to public policy, he enjoyed working on our ancient texts, making them accessible to the youth.”

     

     

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    MJPS/TS

    (Release ID: 2069978) Visitor Counter : 72

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Shri Piyush Goyal concludes successful visit to Kingdom of Saudi Arabia, strengthening India-Saudi Arabia economic ties at the 8th Edition of Future Investment Initiative

    Source: Government of India (2)

    Shri Piyush Goyal concludes successful visit to Kingdom of Saudi Arabia, strengthening India-Saudi Arabia economic ties at the 8th Edition of Future Investment Initiative

    Shri Piyush Goyal  co-chaired the 2nd Ministerial Meeting of the Economy and Investment Committee under the India-Saudi Strategic Partnership Council (SPC) along with Minister of Energy, Kingdom of Saudi Arabia, His Royal Highness Prince Abdulaziz bin Salman Al-Saud

    Posted On: 01 NOV 2024 11:07AM by PIB Delhi

    Union Minister of Commerce and Industry, Shri Piyush Goyal, successfully concluded his visit to the Kingdom of Saudi Arabia. During the visit, Shri Piyush Goyal participated in the Plenary Session of the 8th Edition of Future Investment Initiative (FII), with representatives from global Governments and the industry. He highlighted the critical role of international partnerships and economic diplomacy in fostering global cooperation, innovation, technological advancement, and investment. He urged global investors to seize emerging opportunities in India, particularly in high-growth sectors such as artificial intelligence, renewable energy, digital infrastructure, and advanced manufacturing.

    Shri Piyush Goyal also co-chaired the 2nd Ministerial Meeting of the Economy and Investment Committee under the India-Saudi Strategic Partnership Council (SPC) along with Minister of Energy, Kingdom of Saudi Arabia, His Royal Highness Prince Abdulaziz bin Salman Al-Saud on 30th October 2024 in Riyadh. The Strategic Partnership Council was established in 2019, following the visit of the Hon’ble Prime Minister Shri Narendra Modi to the Kingdom of Saudi Arabia in October 2019.

    The Committee reviewed the progress achieved by the four Joint Working Groups: Agriculture and Food Security; Energy; Technology and Information Technology; and Industry and Infrastructure. They noted the deepening of bilateral economic partnership between India and Saudi Arabia and deliberated on ways to enhance trade and investment.

    The Minister held fruitful ministerial engagements in Riyadh, including with the Minister of Energy, Minister of Industry and Mineral Resources and Minister of Investment. These engagements focused on collaborative initiatives in trade, energy, and technology. These discussions culminated in a series of actionable agreements, aimed at enhancing trade volumes and facilitating a smooth flow of investments between the two countries. The agreements emphasise cooperation in energy transition, digital transformation, and the exchange of expertise to accelerate economic growth.

    Shri Piyush Goyal also met with Mr. Peter Herweck, CEO of Schneider Electric and Mr. William E. Ford, Chairman and CEO of General Atlantic, to discuss India’s economic landscape and investment opportunities across sectors.

    In recent years, many bilateral agreements have been formalised between India and Saudi Arabia, covering sectors such as food exports, pharmaceuticals, electrical interconnectivity, energy, small and medium enterprises, digitization and electronic manufacturing. Both countries are also exploring collaboration in emerging fields like fintech, new technologies, energy efficiency, clean hydrogen, textiles, mining, etc. The Committee Meeting reviewed these developments and reaffirmed their commitment to advancing cooperation across various areas of shared interest.

    Later in the day, Minister Shri Piyush Goyal interacted with the Institute of Chartered Accountants of India (ICAI) chapter in Saudi Arabia and emphasized the role of chartered accountants in supporting India’s expanding global trade network. Discussions highlighted ICAI’s efforts to promote Indian standards globally, including initiatives to upskill professionals and bolster India’s position in global financial services.

    The Minister launched the Lulu Wali Diwali Festival at the Lulu Hypermarket by lighting a Big Diya made with LED, furthering India-Saudi cultural and economic ties. The Diwali Utsav, organised in partnership with Lulu Hypermarket, brings the festive spirit of India’s Festival of Lights to Saudi Arabia, showcasing an array of Indian products, from festive decor and traditional foods to handicrafts. The launch was followed by unveiling of a giant product wall comprising 10,000+ Indian products including Ghee from Uttarakhand, Ladakh Apple, Indian Cavendish banana, Dragon Fruit from Maharashtra, new range of Millets based breakfast cereals, and Qaadu Organic beauty products.

    At the Indian Embassy in Riyadh, the Minister unveiled the One District, One Product (ODOP) Wall, featuring unique products from various districts across India. The ODOP initiative, part of the Government of India’s “Vocal for Local” campaign, aims to promote regional craftsmanship by showcasing the rich cultural heritage of India through distinctive, high-quality products.

    This visit marks a significant milestone in strengthening the strategic partnership between India and the Kingdom of Saudi Arabia. It underscores both nations’ commitment to deepening economic ties and addressing global challenges through collaborative efforts. The outcomes of the discussions are expected to unlock new avenues for investment and trade, driving economic growth and innovation in both countries.

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    AD/CNAN

    (Release ID: 2069975) Visitor Counter : 81

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Sep retail sales drop 6.9%

    Source: Hong Kong Information Services

    The value of total retail sales in September, provisionally estimated at $29.6 billion, decreased 6.9% compared with the same month in 2023, the Census & Statistics Department announced today.

    After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales for the month was 8.7% lower year-on-year.

    Of the total retail sales value in September, online sales accounted for 10.4%. Provisionally estimated at $3.1 billion, the value of online retail sales decreased 11.8% compared with a year earlier.

    The value of sales of commodities in supermarkets dropped 1.1% in September year-on-year.

    There were also declines in sales in the following categories: electrical goods and other consumer durable goods not elsewhere classified (-7.6%); jewellery, watches and clocks, and valuable gifts (-17.9%); food, alcoholic drinks and tobacco (-3.2%); wearing apparel (-8.7%); medicines and cosmetics (-2.5%); commodities in department stores (-11.4%); motor vehicles and parts (-26.7%); fuels (-8.6%); furniture and fixtures (-14.4%); footwear, allied products and other clothing accessories (-3.8%); Chinese drugs and herbs (-17.7%); and optical shops (-10.6%).

    By contrast, the value of other consumer goods not elsewhere classified increased by 2.9% in September over a year earlier. Sales of books, newspapers, stationery and gifts rose 20.3%.

    The Government said that the near-term performance of the retail sector will still be affected by the change in consumption patterns of residents and visitors.

    Nevertheless, an improved outlook for the Mainland economy following the recent introduction of a wide range of stimulus measures, and a possible easing of the Hong Kong dollar alongside the US dollar with the commencement of the US interest rate cut, will be conducive to boosting sentiment and supporting spending.

    In addition, the central government’s various measures benefitting Hong Kong, the Hong Kong Special Administrative Region Government’s various initiatives to boost market sentiment and increasing employment earnings will also benefit the retail sector.

    MIL OSI Asia Pacific News –

  • MIL-OSI Video: Hunger Hotspots Report – Press Conference | United Nations

    Source: United Nations (Video News)

    Press conference by Arif Husain, Chief Economist, World Food Programme, and Rein Paulsen, Director of the Food and Agriculture Organization (FAO) Office of Emergencies and Resilience. They briefed reporters virtually on the Hunger Hotspots report.

    —————

    Acute food insecurity is set to increase in both magnitude and severity across 22 countries and territories, according to a new United Nations report. The report warns that the spread of conflict, particularly in the Middle East – coupled with climate and economic stressors – is pushing millions of people to the brink. The report spotlights the regional fallout from the crisis in Gaza which has seen Lebanon engulfed in conflict and warns that the La Niña weather pattern could impact climates through March 2025, threatening fragile food systems in already vulnerable regions.

    Food and Agriculture Organization’s (FAO) Director of Emergencies Rein Paulsen and World Food Programme’s (WFP) Chief Economist Arif Husain briefed reporters today (31 Oct) in New York, via video link.

    The report draws attention to famine in the Zamzam camp in North Darfur and famine risk in other areas of Sudan, the enduring risk of famine in Palestine (Gaza Strip) and the catastrophic levels of acute food insecurity in, Haiti, Mali and South Sudan – warning that without immediate humanitarian action and concerted efforts to overcome severe access constraints and resolve ongoing conflicts, further starvation and death are likely.

    The report – ‘Hunger Hotspots – FAO-WFP early warnings on acute food insecurity’ – issued today by the Food and Agriculture Organization of the United Nations (FAO) and the United Nations World Food Programme (WFP) calls for urgent humanitarian action to save lives and livelihoods and prevent starvation and death in hotspots where acute hunger is at high risk of worsening between November 2024 and May 2025.

    In total, 22 countries/territories are classified as “hunger hotspots”, where high levels of acute food insecurity are expected to further deteriorate due to the combination of conflict, economic instability, and climate shocks during the outlook period. Without immediate intervention, including increased funding for food and livelihoods assistance, hundreds of thousands more people are expected to face starvation in the coming months.

    “The situation in the five hunger hotspots of highest concern is catastrophic. People are experiencing an extreme lack of food and face unprecedented enduring starvation fuelled by escalating conflicts, climate crises and economic shocks. If we are to save lives and prevent acute hunger and malnutrition, we urgently need a humanitarian ceasefire, and to restore access to and availability of highly nutritious food, including reactivating local food production. But this alone is not enough; we need longer-term.

    stability and food security. Peace is a pre-requisite for food security. Without peace and stability, farmers cannot grow food, harvest or sustain their livelihoods. Access to nutritious food is not just a basic need – it is a fundamental human right,” said QU Dongyu, FAO Director-General.

    “Worldwide, conflicts are escalating, economic instability is rising, and climate disasters are becoming the new norm. With more effective political and financial support, humanitarians can and will continue to implement proven and scalable solutions to address hunger and reduce needs over the long term,” said Cindy McCain, WFP Executive Director.

    “It’s time for world leaders to step up and work with us to reach the millions of people at risk of starvation – delivering diplomatic solutions to conflicts, using their influence to enable humanitarians to work safely, and mobilizing the resources and partnerships needed to halt global hunger in its tracks,” Director McCain added.

    The effects of the La Niña weather pattern, anticipated to impact global climates from November 2024 through March 2025, are expected to further exacerbate some of the food crises. While some areas may benefit from improved agricultural conditions, La Niña is likely to cause devastating floods in countries such as Nigeria and South Sudan, while potentially contributing to dry conditions in Somalia, Kenya, and Ethiopian. These extreme weather events threaten already fragile food systems, putting millions at risk of hunger.

    The report stresses that early, targeted action is essential to prevent the further deterioration of the crisis and avert mass hunger-related mortality. FAO and WFP are urging world leaders to prioritize conflict resolution, economic support, and climate adaptation measures to protect the most vulnerable populations from the brink of famine.

    https://www.youtube.com/watch?v=ScgXxC2SwB0

    MIL OSI Video –

  • MIL-OSI Russia: Dmitry Chernyshenko: The youth of Russia and Uzbekistan are united by common spiritual and moral values

    Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Dmitry Chernyshenko met with students of Russian universities in Uzbekistan. On the right in the chair is Russian Minister for the Development of the Far East and the Arctic Alexey Chekunkov

    November 1, 2024

    Dmitry Chernyshenko’s speech at a meeting with students of Russian universities’ branches in Uzbekistan

    November 1, 2024

    Dmitry Chernyshenko met with students of Russian universities in Uzbekistan. On the right is Russian Minister for the Development of the Far East and the Arctic Alexey Chekunkov

    November 1, 2024

    Dmitry Chernyshenko held a working meeting with Assistant to the President of the Republic of Uzbekistan Saida Mirziyoyeva

    November 1, 2024

    Assistant to the President of the Republic of Uzbekistan Saida Mirziyoyeva at a working meeting with Dmitry Chernyshenko

    November 1, 2024

    Dmitry Chernyshenko held a working meeting with Assistant to the President of the Republic of Uzbekistan Saida Mirziyoyeva. On the right is the Minister of Russia for the Development of the Far East and the Arctic Alexey Chekunkov

    November 1, 2024

    Dmitry Chernyshenko held a working meeting with Assistant to the President of the Republic of Uzbekistan Saida Mirziyoyeva. On the right is the Minister of Russia for the Development of the Far East and the Arctic Alexey Chekunkov

    November 1, 2024

    Dmitry Chernyshenko visited the Cathedral of the Dormition of the Mother of God. With Metropolitan of Tashkent and Uzbekistan Vikentiy

    November 1, 2024

    Dmitry Chernyshenko visited the Cathedral of the Dormition of the Mother of God. With Metropolitan of Tashkent and Uzbekistan Vikentiy

    November 1, 2024

    Dmitry Chernyshenko visited the Cathedral of the Dormition of the Mother of God. On the right is Metropolitan Vikenty of Tashkent and Uzbekistan and Russian Minister for the Development of the Far East and the Arctic Alexey Chekunkov

    November 1, 2024

    Dmitry Chernyshenko visited the Cathedral of the Dormition of the Mother of God. On the left is Metropolitan Vikentiy of Tashkent and Uzbekistan

    November 1, 2024

    Dmitry Chernyshenko visited school No. 5 in Tashkent

    November 1, 2024

    Dmitry Chernyshenko visited school No. 5 in Tashkent

    November 1, 2024

    Dmitry Chernyshenko visited school No. 5 in Tashkent

    November 1, 2024

    Previous news Next news

    Dmitry Chernyshenko met with students of Russian universities in Uzbekistan. On the right in the chair is Russian Minister for the Development of the Far East and the Arctic Alexey Chekunkov

    Deputy Prime Minister of Russia Dmitry Chernyshenko discussed issues of science, education and youth policy with students and heads of branches of Russian universities in the Republic of Uzbekistan, and also held a working meeting with Assistant to the President of the Republic of Uzbekistan Saida Mirziyoyeva.

    Speaking to students at the branch of the Moscow State Institute of International Relations (University) of the Russian Foreign Ministry, the Russian Deputy Prime Minister emphasized that this year MGIMO celebrates its 80th anniversary. According to the Deputy Prime Minister, the university can rightfully be proud of its graduates, who are in demand not only in Russia and Uzbekistan, but also around the world

    He also recalled that the 16th BRICS summit was recently held in Kazan, in which the President of Uzbekistan Shavkat Mirziyoyev also took part.

    “As Russian President Vladimir Vladimirovich Putin noted, BRICS includes like-minded people, sovereign countries representing different development models, religions, original civilizations, and cultures. All our states advocate equality, good neighborliness, and mutual respect, the affirmation of high ideals of friendship and harmony, and universal prosperity and well-being. Not in words, but in deeds, they demonstrate a responsible attitude toward the future of the world. The youth of Russia and Uzbekistan are united by common spiritual and moral values. Young people of our countries demonstrate a growing mutual interest in creation in the interests of the well-being and prosperity of our countries,” said Dmitry Chernyshenko.

    The Deputy Prime Minister emphasized that a harmoniously developed person today needs not only to gain knowledge, but also to stay in excellent physical shape, and spoke about the “phygital” format and the Games of the Future.

    The event was also attended by the head of the Ministry for the Development of the Russian Far East, Alexey Chekunkov. He gave a lecture on the development of the Far East.

    The Deputy Prime Minister discussed prospects for developing relations between Russia and Uzbekistan in the area of scientific and educational cooperation with the management of branches of Russian universities.

    The participants of the event were also greeted by the Head of the Department of Social Development of the Administration of the President of the Republic of Uzbekistan Odil Abdurakhmanov. The meeting was moderated by the Deputy Minister of Science and Higher Education of the Russian Federation Konstantin Mogilevsky.

    “Our discussion today is dedicated to improving the quality of training for the fast-growing economy of Uzbekistan in the branches of leading Russian universities. We discussed advanced educational practices and prospects for their replication, the contribution of industrial partners and, of course, pre-university training. Productive cooperation between branches and schools is important both in terms of selecting applicants and in terms of their in-depth training in the Russian language and basic subjects,” the deputy minister noted.

    During the working visit, the Deputy Prime Minister met with Assistant to the President of the Republic of Uzbekistan Saida Mirziyoyeva. The parties discussed projects in the field of education, Russian language teaching programs, expansion of scientific cooperation and interaction in the information environment. Dmitry Chernyshenko invited scientists from Uzbekistan to participate in the flagship event of the Decade of Science and Technology in Russia – the Congress of Young Scientists, which will be held this year from November 27 to 29 in Sirius.

    During the visit, Dmitry Chernyshenko assessed the infrastructure of School No. 5, School No. 21 and the IT Park, visited the Cathedral of the Dormition of the Mother of God and held a working meeting with Metropolitan Vikentiy of Tashkent and Uzbekistan.

    All instruction at Tashkent General Education School No. 5 is in Russian. The Deputy Prime Minister inspected the building, talked to the staff, and attended a literature lesson. Following the visit, the Deputy Prime Minister left a commemorative note.

    “Gratitude and admiration to the wonderful staff of School No. 5 with hope for future meetings with you and your graduates on the path to implementing projects of commonwealth and developing relations between the Republic of Uzbekistan and the Russian Federation,” wrote Dmitry Chernyshenko in the book of honored guests.

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

    MIL OSI Russia News –

  • MIL-OSI: Credicorp Ltd.: Credicorp Ltd. to acquire remaining 50% stake in joint venture with Empresas Banmédica

    Source: GlobeNewswire (MIL-OSI)

    Lima, Nov. 01, 2024 (GLOBE NEWSWIRE) — Lima, PERU, November 1st, 2024 – Credicorp Ltd. (“Credicorp”) (NYSE: BAP | BVL: BAP), the leading financial services holding company in Peru with a presence in Chile, Colombia, Bolivia, and Panama, announced today that it has reached an agreement to acquire Empresas Banmédica (“Banmedica”)’s 50% interest in the joint venture executed in December 2014 between Pacífico Compañía de Seguros y Reaseguros S.A. (“Pacifico Seguros”) and Banmedica. Closing is subject to regulatory approvals and other customary closing conditions.

    In December 2014, Pacifico Seguros and Banmedica established a joint venture to participate as equal partners in the private medical insurance (referred to as Medical Assistance in Credicorp’s quarterly earnings releases), corporate health insurance for employees and medical services businesses in Peru.

    By virtue of this acquisition, Banmedica will transfer its 50% interest in the private medical insurance business in Peru to Pacifico Seguros. In addition, Banmedica will transfer its 50% interest in Pacífico S.A. Entidad Prestadora de Salud (“Pacifico EPS”), which runs the corporate health insurance for employees and medical services businesses in Peru, to Credicorp’s subsidiary Grupo Crédito S.A.

    Upon completion of the transaction, the partnership will be terminated and Credicorp, through its subsidiaries Grupo Crédito S.A. and Pacifico Seguros, will become the sole owner of both the private medical insurance business and Pacifico EPS. 

    The acquisition strengthens Credicorp’s ability to fulfill its aspiration of creating a more sustainable and inclusive economy by improving insurance and healthcare access, while advancing financial inclusion in Peru. Credicorp is committed to continue investing in technology, expanding its footprint, and improving service delivery standards to ensure Pacifico Seguros and Pacifico EPS remain trusted partners for Peruvian families.

    Following the transaction, customers, policyholders, agents, and other stakeholders will experience seamless continuity, with no disruptions. No changes in terms, service, or policy administration are expected.

    About Credicorp:

    Credicorp (NYSE: BAP) is the leading financial services holding company in Peru with presence in Chile, Colombia, Bolivia, and Panama. Credicorp has a diversified business portfolio organized into four lines of business: Universal Banking, through Banco de Crédito del Peru (“BCP”) and Banco de Crédito de Bolivia; Microfinance, through Mibanco in Peru and Colombia; Insurance & Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Management & Advisory, through Credicorp Capital, Wealth Management at BCP and ASB Bank Corp.

    About Pacifico EPS

    Pacifico EPS is one of the largest corporate health insurance for employees and medical services providers in Peru, with over one million clients. The company reported a net income of S/ 205 million for 2023, highlighting its robust financial performance.  

    About Pacifico Seguros

    Pacifico Seguros is one of the leading insurance companies in Peru and is part of Credicorp. In 2023 the company reported a net income of S/ 810 million. The company offers a wide range of insurance products, including life, private health, automobile, and property insurance.

    For further information please contact the IR team:
    Investorrelations@credicorpperu.com

    Investor Relations

    Credicorp Ltd.

    The MIL Network –

  • MIL-OSI: Applied Materials Announces Q4 and Fiscal 2024 Earnings Webcast

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., Nov. 01, 2024 (GLOBE NEWSWIRE) — Applied Materials, Inc. will hold a webcast to discuss its fourth quarter and fiscal 2024 financial results on Thursday, Nov. 14, 2024, at 4:30 p.m. ET / 1:30 p.m. PT.

    The live webcast will be accessible via the Applied Materials website at: https://ir.appliedmaterials.com. A replay will be available on the same day beginning at 8:00 p.m. ET / 5:00 p.m. PT.

    About Applied Materials
    Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com

    Contact:
    Ricky Gradwohl (editorial/media) 408.235.4676
    Liz Morali (financial community) 408.986.7977

    The MIL Network –

  • MIL-OSI: Stardust Power Announces Third Quarter 2024 Earnings Release Date, Conference Call

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., Nov. 01, 2024 (GLOBE NEWSWIRE) — Stardust Power Inc. (NASDAQ: SDST) (“Stardust Power” or the “Company”), an American developer of battery-grade lithium products, today announced that that it plans to release its third quarter 2024 financial results after market close on Wednesday, November 13, 2024. Roshan Pujari, Founder and Chief Executive Officer and Uday Devasper, Chief Financial Officer will host a conference call at 5:30 pm ET on Wednesday, November 13, 2024 to discuss the Company’s performance.

    Participants may access the call by clicking the participant call link and ask questions: https://register.vevent.com/register/BI636e5a7167ac45fe86b733d151aba0af. Upon registering at the link, you will receive the dial-in info and a unique PIN to join the call as well as an email confirmation with the details. You can also access the call via live audio webcast using the website link to listen in: https://edge.media-server.com/mmc/p/vd7zimt8.

    Participants should log in at least 15 minutes early to receive instructions.

    About Stardust Power Inc.

    Stardust Power is a developer of battery-grade lithium products designed to supply the electric vehicle (EV) industry and bolster America’s energy leadership by building resilient supply chains. Stardust Power is developing a strategically central lithium refinery in Muskogee, Oklahoma with the anticipated capacity of producing up to 50,000 metric tons per annum of battery-grade lithium. The company is committed to sustainability at each point in the process. Stardust Power trades on the Nasdaq under the ticker symbol “SDST.” For more information, visit www.stardust-power.com

    Stardust Power Contacts

    For Investors:
    Johanna Gonzalez
    investor.relations@stardust-power.com

    For Media:
    Michael Thompson
    media@stardust-power.com

    The MIL Network –

  • MIL-OSI United Kingdom: Households urged to check eligibility for winter support schemes

    Source: United Kingdom – Executive Government & Departments

    Cold Weather Payments take effect from today as low-income households set to get £25 during cold snaps.

    • Comes alongside the £150 Warm Home Discount to support eligible customers with energy bills and extension to Household Support Fund

    • Pensioners urged to check eligibility for Pension Credit to claim Winter Fuel Payment

    From 1 November, households receiving certain benefits including Pension Credit could be eligible for extra money to help keep warm during the cold weather until the end of March 2025.

    DWP’s Cold Weather Payments are an automatic bank top-up of £25, triggered to be paid to eligible households when the average temperature has been recorded as, or is forecast to be, zero degrees Celsius or below for seven consecutive days at the weather station linked to an eligible person’s postcode.

    The £25 payments will be paid automatically to households receiving certain benefits including, Pension Credit, Income Support, income-based Jobseeker’s Allowance (JSA), income-related Employment and Support Allowance (ESA), Universal Credit and Support for Mortgage Interest.

    The money will appear in bank statements within 14 days of each seven-day period of very cold weather between 1 November 2024 and 31 March 2025, with the payment reference starting with the customer’s national Insurance number followed by ‘DWP CWP’ for people in England and Wales.

    Minister for Pensions Emma Reynolds said:

    As we head into the winter months, I want to ensure the most vulnerable in our society are getting the support they need, and that’s why we have a range of measures targeted at helping low-income households, such as Cold Weather Payments and the Warm Homes Discount.

    With the dire state of the public finances, we have had to make some tough choices, including means-testing the Winter Fuel Payment so that it goes to those most in need.

    And while these choices were not made lightly, this Government is doing everything it can to ensure maximum take-up of Pension Credit while also continuing to support pensioners through our commitment to the Triple Lock which will mean an increase in the full state pension of up to £1,700 over the next 5 years.

    The £150 Warm Home Discount scheme has also been extended as we continue to stand behind households in, or at risk of, fuel poverty with direct energy bill payments as well as other financial and energy-related support.

    On top of this, struggling households can receive further help with their bills and essential costs through the extension of the Household Support Fund – adding to the six months already announced, an additional £1 billion, including Barnett impact, will be invested to extend this support by a full year, and to maintain Discretionary Housing Payments in England and Wales. 

    Anyone struggling to heat their homes or afford other essential items over the colder months should contact their local council to see what support may be available to them.

    Many councils also use the Fund beyond emergency support, including working with local charities and community groups to provide residents with key appliances, school uniforms, cookery classes, and items to improve energy efficiency in the home.

    Eligible pensioners can also receive up to £300 for the Winter Fuel Payment which is set to land in bank accounts in the next two months. We continue to urge anyone who thinks they may be entitled to Pension Credit to check now.

    This could be worth up to £3,900 a year on average and open the doors to other benefits including help with housing costs, council tax reduction as well as a Winter Fuel Payment, and all eligible Pension Credit claims can be backdated.

    Winter support is part of the government’s wider drive to support vulnerable households with the cost of living, as we continue our work to fix the foundations of the economy.

    This includes working closely with Local Authorities to bring together the administration of Pension Credit and Housing Benefit as soon as operationally possible.

    As confirmed in the budget earlier this week, millions of pensioners will also receive an increase of 4.1 percent to their State Pension, which means the full rate of the new State Pension will rise to over £12,000 a year, while Pension Credit standard minimum guarantee will soon be worth £227.10 a week for a single person and £346.60 for a couple.

    Working age people on Universal Credit, PIP, ESA, and other vital benefits will also see their incomes protected, as they are set to increase by 1.7 percent, ensuring incomes of the most vulnerable aren’t outstripped by inflation.

    More than one million households will get a £420 boost thanks to the introduction of the Fair Repayment rate, a cap the amount that can be cut from benefit payments each month to repay short-term loans and debts.

    The Chancellor has also confirmed a 6.7 percent increase in the National Living Wage to over 3 million workers, which will boost the National Living Wage from £11.44 to £12.21 an hour from April 2025 and will be worth £1,400 a year for an eligible full-time worker. It is a significant step towards delivering the manifesto commitment to make sure the minimum wage is a genuine living wage, helping unlock opportunity and potential in every area of the country.

    The cost of bus travel will also be kept down at £3 for an additional year – saving up to 80% on some routes – to ensure fares remain affordable.

    This Government will continue to provide that safety net for the most vulnerable as it ushers in the biggest reform to employment support in a generation to get people into work and make work pay. This includes by overhauling jobcentres, introducing our employment rights bill, delivering a Youth guarantee so every young person is learning or earning, and new work, health and skills plans to tackle inactivity.

    Additional information

    • The new rates for benefits and the State Pension will apply from 7 April 2025.
    • The Warm Home Discount is applied automatically on energy bills in the majority of cases. If a household believes they are eligible, they should first wait to see if they receive a letter, letters will arrive with households between October and January
    • If they have not received a letter by early January, they should check their energy account to see whether they have received the rebate automatically and, if not, they should contact the Warm Home Discount helpline on 0800 030 9322. Eligibility can be checked on gov.uk: https://www.gov.uk/check-if-youre-eligible-for-warm-home-discount

    Updates to this page

    Published 1 November 2024

    MIL OSI United Kingdom –

  • MIL-OSI USA: Department of Labor honors more than 800 employers committed to veterans’ employment with 2024 HIRE Vets Medallion Awards

    Source: US Department of Labor

    WASHINGTON – The U.S. Department of Labor today recognized more than 800 employers for their commitment to employing and supporting the nation’s service members by presenting them with the 2024 Honoring Investments in Recruiting and Employing American Military Veterans Medallion Award.

    Acting Secretary of Labor Julie Su and Assistant Secretary for Veterans’ Employment and Training James D. Rodriguez announced these 838 U.S. employers during an online ceremony. The event also featured award recipients who shared their views on the importance of hiring, retaining and professionally developing the nation’s veterans and the valuable contributions they make. 

    “The U.S. Department of Labor congratulates the newest recipients of the HIRE Vets Medallion Award and thanks them for their commitment to our nation’s veterans,” said Acting Secretary Julie Su. “In 2024, we recognize 838 companies that understand that military veterans possess unique skills that strengthen their organizations and our nation’s economy.” 

    Presented annually, the HIRE Vets Medallion Program is the only federal-level program recognizing veteran employment and employers. Employers have hired nearly 370,000 veterans since the program’s inception, including more than 71,000 veterans hired by 2024’s medallion honorees in the past two years.

    “The HIRE Vets Medallion Award is the federal government’s only veteran-hiring award. Recipients must meet high standards and demonstrate significant accomplishments in support of our nation’s veterans,” said Assistant Secretary for Veterans’ Employment and Training James D. Rodriguez. “We appreciate their hard work and commitment to providing our nation’s veterans with meaningful employment.” 

    View the 2024 HIRE Vets Medallion Awards ceremony. 

    Employers, learn more about the award and how to apply.

    MIL OSI USA News –

  • MIL-OSI USA: Building on long history of tech & innovation, California selected as headquarters for the National Semiconductor Technology Center

    Source: US State of California 2

    Nov 1, 2024

    What you need to know: California will be home to a first-of-its-kind research & development facility made possible by the Biden-Harris Administration’s CHIPS & Science Act.

    Los Angeles, California — California took a major step forward in correcting the damage from 50 years of neglect to the state’s mental health system with the passage of Proposition 1. This historic measure — a signature priority of Governor Gavin Newsom — adds rocket fuel to California’s overhaul of the state’s behavioral health systems. It provides a full range of mental health and substance abuse care, with new accountability metrics to ensure local governments deliver for their communities.

    California has long been a leader in global technology and future thinking innovation. With our state’s global talent pool, world-leading universities and research institutions, and top technology companies, it is no surprise California was selected. We often say the future happens here first, and thanks to the Biden-Harris Administration’s announcement, California will continue to shape the coming decades across the most critical sectors of our economy and national security.

    Governor Gavin Newsom

    Why this matters

    The new headquarters facility will lower the barriers to semiconductor prototyping, experimentation, and other R&D activities that will support America’s global strength and leadership in design, materials, and process innovation while enabling a vibrant domestic industry. The DCF  is expected to drive more than $1 billion in research funding and create more than 200 direct jobs over the next 10 years, utilizing California’s global talent and world-leading research and education facilities throughout the Golden State. California’s leadership in the semiconductor industry is key to the Governor’s ‘build more, faster’ infrastructure agenda.

    “We are thrilled that the Department of Commerce and Natcast chose to locate this critically important facility in Sunnyvale, the heart of Silicon Valley, alongside the world’s largest concentration of semiconductor businesses, talent, intellectual property, and investment activity,” said Dee Dee Myers, Senior Economic Advisor to Governor Newsom and Director of the Governor’s Office of Business and Economic Development (GO-Biz). “The Newsom Administration and our partners across the industry know how important it is to shorten the time frame from R&D to commercialization. We are looking forward to a productive partnership with the Department of Commerce and Natcast to ensure that CHIPS for America will be an enduring success not only for our state but for the entire country.”

    About the new headquarters (Design and Collaboration Facility, DCF)

    The DCF will convene semiconductor industry leaders from across the U.S., offering unparalleled engagement and collaboration opportunities to a diverse array of stakeholders across the semiconductor value chain, and will administer the NSTC Design Enablement Gateway, helping drive technological advances in semiconductor design and manufacturing to transfer at scale. The facility will also oversee the NSTC Workforce Center of Excellence to build and sustain the diverse and skilled workforce necessary for the U.S. semiconductor industry to grow. With the largest public higher education system in the U.S., world-class research institutions like UC Berkeley and Stanford, and surrounding national labs, California’s unmatched talent pipeline will foster a dynamic workforce that advances the DCF mission.

    Learn more about today’s announcement here.

    Press Releases, Recent News

    Recent news

    Oct 31, 2024

    News SACRAMENTO – Governor Gavin Newsom today announced the following appointments:Vickie Sakamoto, of Sacramento, has been appointed Assistant State Fire Marshal at the California Department of Forestry and Fire Protection (CAL FIRE.) Sakamoto has been Assistant…

    Oct 31, 2024

    News In case you missed it, new analysis from the Public Policy Institute of California (PPIC) found that “violent and property crime rates are less than half of what they were, and property crime is at pre-pandemic levels,” in addition to “savings from less…

    Oct 31, 2024

    News What you need to know: California is announcing a new state program using $16 million in federal funds to help improve public safety and reduce recidivism by creating long-term supportive housing and support for people exiting incarceration. SACRAMENTO — Governor…

    MIL OSI USA News –

  • MIL-OSI: Northway Financial, Inc. Announces Third Quarter Earnings

    Source: GlobeNewswire (MIL-OSI)

    NORTH CONWAY, N.H., Nov. 01, 2024 (GLOBE NEWSWIRE) — Northway Financial, Inc. (the “Company”) (OTCQB: NWYF), the parent company of Northway Bank (the “Bank”), today reported net income for the quarter ended September 30, 2024 of $1.2 million, or $0.45 per basic common share, compared to $1.6 million, or $0.58 per basic common share for the quarter ended September 30, 2023. For the nine months ended September 30, 2024, the Company reported net income of $3.6 million, or $1.31 per basic common share, compared to $4.7 million, or $1.71 per basic common share for the same period in 2023.

    President and CEO William J. Woodward commented: “During the third quarter we continued to reduce our reliance on wholesale funding by putting a focus on retaining deposits and limiting our lending. Wholesale funding decreased by $122 million, significantly reducing our reliance on wholesale funding. The third quarter was marked by the announcement of our pending merger with Camden National Corporation. The closing date of the merger is still to be determined but we anticipate the merger to be completed in the first quarter of 2025. We will be holding a special shareholder meeting to approve the merger agreement. The details of the merger and the shareholder meeting will be sent to all shareholders in the coming weeks. Please look out for the information and return your proxy card as soon as possible. The Board of Directors have unanimously approved the merger, and your support, as always, is greatly appreciated.”

    Financial Highlights

    • Total Assets were $1.2 billion, Loans, Net, were $900 million, and Total Deposits were $1 billion at September 30, 2024.
    • Total Assets decreased $137 million, or 10%, compared to September 30, 2023, driven by decreases in Loans, Net of $55 million, Cash and Due from Banks and Interest-Bearing Deposits of $51 million and Securities Available-for-Sale at Fair Value of $20 million.
    • The decrease in Loans, Net was led by a decrease in Commercial Real Estate loans of $25 million, Residential Real Estate loans of $22 million, and Consumer Loans of $6 million, compared to September 30, 2023.
    • Non-Municipal Deposits (excluding brokered deposits) increased $18 million compared to September 30, 2023 led by an increase in Retail Deposits of $21 million or 4%.
    • The increase in Retail Deposits was led by an increase in Time Deposits of $69 million offset by a decrease in Non-Maturity Deposits of $48 million.
    • Non-Municipal Deposits (excluding brokered deposits) increased $18 million, or 6%, compared to December 31, 2023.
    • Wholesale Funding, which includes brokered deposits and borrowings, decreased $122 million, or 49%, compared to September 30, 2023, and $82 million, or 39%, compared to December 31, 2023.
    • Total Equity increased $21 million, or 37%, compared to September 30, 2023, primarily from an increase in the market value of Securities Available-for-Sale at Fair Value.
    • Net Income for the nine-month period ending September 30, 2024, was $3.6 million, or $1.31, per basic common share.
    • Year-to-date Net Interest Income was $2.9 million lower than the same period last year driven by an increase in interest expense of $2.2 million.
    • The year-to-date Net Interest Margin decreased from 2.67% to 2.59% as funding costs increased .44% while the yield on earning assets increased 0.25%, compared to year-to-date September 30, 2023.
    • Nonperforming loans as a percentage of total loans stood at 0.41% compared to 0.31% at September 30, 2023.
    • Total delinquent loans as a percentage of total loans were 0.06% compared to 0.02% at September 30, 2023.
    • The Bank’s regulatory capital ratios at September 30, 2024 exceeded all well-capitalized ratios as defined under FDIC’s prompt corrective action rules.
    • The market price of our common stock, as of October 31, 2024, was $32.35.
     
    Northway Financial, Inc.
    Selected Financial Highlights
    (Unaudited)
                   
    (Dollars in thousands, except per share data) Three Months Ended   Nine Months Ended
      9/30/2024   9/30/2023   9/30/2024   9/30/2023
                   
    Interest and Dividend Income $ 12,772   $ 13,372     $ 37,576   $ 38,260  
    Interest Expense   5,046     4,572       14,223     12,002  
    Net Interest and Dividend Income   7,726     8,800       23,353     26,258  
    Provision for Credit Losses   –     –       –     –  
    All Other Noninterest Income   1,445     1,036       3,819     3,535  
    Noninterest Expense   8,041     7,720       23,837     24,030  
    Net Income Before Gain (Loss) on Securities   1,130     2,116       3,335     5,763  
    Gain (Loss) on Securities Available-for-Sale, Net   –     –       –     –  
    (Loss) Gain on Marketable Equity Securities   249     (199 )     515     (309 )
    Income before Income Tax (Benefit) Expense   1,379     1,917       3,850     5,454  
    Income Tax (Benefit) Expense   133     305       233     744  
    Net Income $ 1,246   $ 1,612     $ 3,617   $ 4,710  
    Net Income Available to Common Stockholders $ 1,246   $ 1,612     $ 3,617   $ 4,710  
    Earnings per Common Share, Basic $ 0.45   $ 0.58     $ 1.31   $ 1.71  
                   
                   
        9/30/2024   12/31/2023   9/30/2023  
                   
    Balance Sheet            
    Total Assets $ 1,221,077   $ 1,290,467   $ 1,357,654  
    Cash and Due from Banks and Interest-Bearing Deposits   22,584     68,887     74,139  
    Securities Available-for-Sale, at Fair Value   241,224     246,756     261,502  
    Marketable Equity Securities, at Fair Value   3,104     2,589     3,405  
    Loans Held-for-Sale   1,555     –     –  
    Loans, Net   900,517     909,781     956,053  
    Total Liabilities   1,141,363     1,217,230     1,299,301  
    Non Municipal Non-Maturity Deposits   712,708     734,741     763,784  
    Municipal Non-Maturity Deposits   113,959     133,100     138,674  
    Certificates of Deposit   183,576     127,726     143,868  
    Securities Sold Under Agreements to Repurchase   49,722     55,353     68,728  
    Short-Term Borrowings   –     65,000     78,600  
    Long-Term Debt   45,000     60,000     60,000  
    Junior Subordinated Debentures   20,620     20,620     20,620  
    Stockholders’ Equity   79,714     73,237     58,353  
    Profitability and Efficiency            
    Net Interest Margin   2.59 %   2.63 %   2.67 %
    Yield on Earning Assets   4.11     3.90     3.86  
    Cost of Interest Bearing Liabilities   1.98     1.63     1.54  
    Book Value Per Share of Common Shares Outstanding $ 28.97   $ 26.62   $ 21.21  
    Tangible Book Value Per Share of Common Shares Outstanding   25.18     22.83     17.42  
    Common Shares Outstanding   2,751,650     2,751,650     2,751,650  
    Weighted Average Number of Common Shares, Basic   2,751,650     2,751,650     2,751,650  
    Capital Ratios for the Bank            
    Tier 1 Core Capital to Average Assets   9.09 %   8.30 %   8.23 %
    Common Equity Risk-Based Capital   15.27     14.40     13.91  
    Tier 1 Risk-Based Capital   15.27     14.40     13.91  
    Total Risk-Based Capital   16.52     15.65     15.16  
     

    About Northway Financial, Inc.

    Northway Financial, Inc., headquartered in North Conway, New Hampshire, is a bank holding company. Through its subsidiary bank, Northway Bank, the Company offers a broad range of financial products and services to individuals, businesses, and the public sector from its 16 banking offices and its loan production offices located in Bedford and Portsmouth, New Hampshire.

    Forward-looking Statements

    Statements included in this press release that are not historical or current fact are “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. Northway Financial, Inc. disclaims any obligation to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements, or to reflect the occurrence of anticipated or unanticipated events or circumstances.

    No Offer or Solicitation

    This communication is not a proxy statement or solicitation or a proxy, consent or authorization with respect to any securities or in respect of the pending merger of Camden National Corporation (“Camden National”) and the Company (the “Merger”) and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Camden National, the Company or the combined company, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, and otherwise in accordance with applicable law.

    Additional Information and Where to Find It

    In connection with the Merger, Camden National has filed a registration statement on Form S-4 with the SEC, which also includes a proxy statement of Northway and a prospectus of Camden National, and Camden National will file other documents regarding the proposed transaction with the SEC. A definitive proxy statement/prospectus will also be sent to Northway stockholders seeking the required stockholder approval of the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF NORTHWAY ARE URGED TO CAREFULLY READ THE ENTIRE REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS, WHEN THEY BECOME AVAILABLE, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The documents filed by Camden National with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov. In addition, the documents filed by Camden National may be obtained free of charge under the “Investor Relations” section of Camden National’s website at http://www.camdennational.bank. Alternatively, these documents, when available, can be obtained free of charge from Camden National upon written request to Camden National Corporation, Attn: Corporate Secretary, 2 Elm Street, Camden, Maine 04843.

    Participants in Solicitation

    Camden National, Northway, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction under the rules of the U.S. Securities and Exchange Commission (the “SEC”). Information regarding Camden National’s directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on April 5, 2024, and certain other documents filed by Camden National with the SEC. Other information regarding the participants in the solicitation of proxies in respect of the proposed transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph.

    The MIL Network –

  • MIL-OSI: Oxford Lane Capital Corp. Announces Net Asset Value and Selected Financial Results for the Second Fiscal Quarter and Declaration of Distributions on Common Stock for the Months Ending January, February, and March 2025

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., Nov. 01, 2024 (GLOBE NEWSWIRE) — Oxford Lane Capital Corp. (Nasdaq: OXLC) (NasdaqGS: OXLCP) (NasdaqGS: OXLCL) (NasdaqGS: OXLCO) (NasdaqGS: OXLCZ) (NasdaqGS: OXLCN) (NasdaqGS: OXLCI) (“Oxford Lane,” the “Company,” “we,” “us” or “our”) announced today the following financial results and related information: 

    • On October 24, 2024, our Board of Directors declared the following distributions on our common stock:
    Month Ending Record Date Payment Date Amount Per Share
    January 31, 2025 January 17, 2025 January 31, 2025 $0.09
    February 28, 2025 February 14, 2025 February 28, 2025 $0.09
    March 31, 2025 March 17, 2025 March 31, 2025 $0.09
     
    • Net asset value (“NAV”) per share as of September 30, 2024 stood at $4.76, compared with a NAV per share on June 30, 2024 of $4.91.
    • Net investment income (“NII”), calculated in accordance with U.S. generally accepted accounting principles (“GAAP”), was approximately $67.2 million, or $0.22 per share, for the quarter ended September 30, 2024.
    • Our core net investment income (“Core NII”) was approximately $99.4 million, or $0.32 per share, for the quarter ended September 30, 2024.
      • Core NII incorporates all applicable cash distributions received, or entitled to be received (if any, in either case), on our collateralized loan obligation (“CLO”) equity investments. See additional information under “Supplemental Information Regarding Core Net Investment Income” below.
      • We emphasize that our taxable income may differ materially from our GAAP NII and/or our Core NII, and that neither GAAP NII nor Core NII should be relied upon as indicators of our taxable income.
    • Total investment income for the quarter ended September 30, 2024 amounted to approximately $105.1 million, which represented an increase of approximately $15.4 million from the quarter ended June 30, 2024.
      • For the quarter ended September 30, 2024 we recorded investment income as follows:
        • Approximately $98.3 million from our CLO equity and CLO warehouse investments, and
        • Approximately $6.8 million from our CLO debt investments and other income.
    • Our total expenses for the quarter ended September 30, 2024 were approximately $37.9 million, compared with total expenses of approximately $33.8 million for the quarter ended June 30, 2024.
    • As of September 30, 2024, the following metrics applied (note that none of these metrics represented a total return to shareholders):
      • The weighted average yield of our CLO debt investments at current cost was 17.3%, down from 17.4% as of June 30, 2024.
      • The weighted average effective yield of our CLO equity investments at current cost was 16.5%, down from 16.8% as of June 30, 2024.
      • The weighted average cash distribution yield of our CLO equity investments at current cost was 24.1%, down from 26.9% as of June 30, 2024.
    • For the quarter ended September 30, 2024, we recorded a net increase in net assets resulting from operations of approximately $17.9 million, or $0.06 per share, comprised of:
      • NII of approximately $67.2 million;
      • Net realized gains of approximately $3.2 million; and
      • Net unrealized depreciation of approximately $52.5 million.
    • During the quarter ended September 30, 2024, we made additional investments of approximately $540.0 million, and received approximately $160.2 million from sales and repayments of our CLO investments.
    • For the quarter ended September 30, 2024, we issued a total of approximately 48.1 million shares of common stock pursuant to an “at-the-market” offering. After deducting the sales agent’s commissions and offering expenses, this resulted in net proceeds of approximately $252.0 million. As of September 30, 2024, we had approximately 337.3 million shares of common stock outstanding.
    • On October 24, 2024, our Board of Directors declared the required monthly dividends on our 6.25% Series 2027 Term Preferred Shares, 6.00% Series 2029 Term Preferred Shares, and 7.125% Series 2029 Term Preferred Shares as follows:
    Preferred
    Shares Type    		 Per Share Dividend Amount Declared Record Dates Payment Dates
    6.25% – Series 2027 $ 0.13020833  December 17, 2024, January 17, 2025, February 14, 2025 December 31, 2024, January 31, 2025, February 28, 2025
    6.00% – Series 2029 $ 0.12500000  December 17, 2024, January 17, 2025, February 14, 2025 December 31, 2024, January 31, 2025, February 28, 2025
    7.125% – Series 2029 $ 0.14843750  December 17, 2024, January 17, 2025, February 14, 2025 December 31, 2024, January 31, 2025, February 28, 2025
     

    In accordance with their terms, each of the 6.25% Series 2027 Term Preferred Shares, 6.00% Series 2029 Term Preferred Shares, and 7.125% Series 2029 Term Preferred Shares will pay a monthly dividend at a fixed rate of 6.25%, 6.00% and 7.125%, respectively, of the $25.00 per share liquidation preference, or $1.5625, $1.5000 and $1.78125 per share per year, respectively. This fixed annual dividend rate is subject to adjustment under certain circumstances, but will not, in any case, be lower than 6.25%, 6.00% and 7.125% per year, respectively, for each of the 6.25% Series 2027 Term Preferred Shares, 6.00% Series 2029 Term Preferred Shares and 7.125% Series 2029 Term Preferred Shares.

    Supplemental Information Regarding Core Net Investment Income 

    We provide information relating to Core NII (a non-GAAP measure) on a supplemental basis. This measure is not provided as a substitute for GAAP NII, but in addition to it. Our non-GAAP measures may differ from similar measures by other companies, even in the event of similar terms being utilized to identify such measures. Core NII represents GAAP NII adjusted for additional applicable cash distributions received, or entitled to be received (if any, in either case), on our CLO equity investments. Oxford Lane’s management uses this information in its internal analysis of results and believes that this information may be informative in assessing the quality of Oxford Lane’s financial performance, identifying trends in its results and providing meaningful period-to-period comparisons.

    Income from investments in the “equity” class securities of CLO vehicles, for GAAP purposes, is recorded using the effective interest method; this is based on an effective yield to the expected redemption utilizing estimated cash flows, at current cost, including those CLO equity investments that have not made their inaugural distribution for the relevant period end. The result is an effective yield for the investment in which the respective investment’s cost basis is adjusted quarterly based on the difference between the actual cash received, or distributions entitled to be received, and the effective yield calculation. Accordingly, investment income recognized on CLO equity securities in the GAAP statement of operations differs from the cash distributions actually received by the Company during the period (referred to below as “CLO equity adjustments”). 

    Furthermore, in order for the Company to continue qualifying as a regulated investment company for tax purposes, we are required, among other things, to distribute at least 90% of our investment company taxable income annually. While Core NII may provide a better indication of our estimated taxable income than GAAP NII during certain periods, we can offer no assurance that will be the case, however, as the ultimate tax character of our earnings cannot be determined until after tax returns are prepared at the close of a fiscal year. We note that this non-GAAP measure may not serve as a useful indicator of taxable earnings, particularly during periods of market disruption and volatility, and, as such, our taxable income may differ materially from our Core NII.

    The following table provides a reconciliation of GAAP NII to Core NII for the three months ended September 30, 2024:

      Three Months Ended  
    September 30, 2024  
        Amount   Per Share
    Amount
    GAAP net investment income $ 67,188,478   $ 0.22  
    CLO equity adjustments   32,164,525     0.10  
    Core net investment income $ 99,353,003   $ 0.32  
     

    We will host a conference call to discuss our second quarter results today, Friday, November 1, 2024 at 9:00 AM ET. Please call 1-833-470-1428, access code number 436588 to participate. A recording of the conference call will be available for replay for approximately 30 days following the call. The replay number is 1-866-813-9403, and the replay passcode is 813197.  

    A presentation containing additional details regarding our quarterly results of operations has been posted under the Investor Relations section of our website at www.oxfordlanecapital.com. 

    About Oxford Lane Capital Corp. 

    Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company principally investing in debt and equity tranches of CLO vehicles. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.

    Forward-Looking Statements

    This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties.  Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events, except as may be required by law.

    Contact:
    Bruce Rubin
    203-983-5280

    The MIL Network –

  • MIL-OSI Security: Secretary Hegseth’s Message to the Force

    Source: United States INDO PACIFIC COMMAND

    It is the privilege of a lifetime to lead the warriors of the Department of Defense, under the leadership of our Commander in Chief Donald J. Trump. We will put America First, and we will never back down.

    The President gave us a clear mission: achieve Peace through Strength. We will do this in three ways — by restoring the warrior ethos, rebuilding our military, and reestablishing deterrence.

    o We will revive the warrior ethos and restore trust in our military. We are American warriors. We will defend our country. Our standards will be high, uncompromising, and clear. The strength of our military is our unity and our shared purpose.

    o We will rebuild our military by matching threats to capabilities. This means reviving our defense industrial base, reforming our acquisition process, passing a financial audit, and rapidly fielding emerging technologies. We will remain the strongest and most lethal force in the world.

    o We will reestablish deterrence by defending our homeland — on the ground and in the sky. We will work with allies and partners to deter aggression in the Indo-Pacific by Communist China, as well as supporting the President’s priority to end wars responsibly and reorient to key threats. We will stand by our allies — and our enemies are on notice.

    All of this will be done with a focus on lethality, meritocracy, accountability, standards, and readiness.

    I have committed my life to warfighters and their families. Just as my fellow soldiers had my back on the battlefield, know that I will always have your back. We serve together at a dangerous time. Our enemies will neither rest nor relent. And neither will we. We will stand shoulder to shoulder to meet the urgency of this moment.

    Like each of you, I love my country and swore an oath to defend the Constitution. We will do that each and every day, as one team. Together we will accomplish the President’s mission to deter war, and if necessary, defeat and destroy our enemies. Godspeed!

    MIL Security OSI –

  • MIL-OSI USA: ICYMI: Grassley Unpacks First Week of the Trump Administration with Maria Bartiromo

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley

    WASHINGTON – Sen. Chuck Grassley (R-Iowa), chairman of the Senate Judiciary Committee and former chairman of the Senate Finance Committee, joined Maria Bartiromo’s Wall Street on Fox Business to discuss energy policy, the Senate confirmation process, reconciliation and tax cuts.

    Audio and excerpts of Grassley’s remarks follow.

    [embedded content]

    VIDEO

    On Trump’s actions to unleash American energy:

    ‘I might say about all the actions [President Trump has] taken in the first 48 hours [in office] is like a tornado going through Washington, D.C. This town needs a shakeup, and I think he’s doing it.

    “For decades I’ve always said, ‘The best energy program is all of the above.’ That means all the fossil fuels we need, all the alternative energy we can have, conservation and nuclear. And I think [Trump’s] headed in that right direction. It’s going to have a very strong ripple effect through the entire economy…

    “Every service, every product that we buy has an energy component to it. When we have cheaper energy, we’re going to see cheaper prices paid for almost everything.”

    On the confirmation process:

    “If [Democrats] don’t agree to unanimous consent to bring a nomination up, you’ve got to have a separate vote to bring it up, and then you have unlimited debate. You have to have 51 votes to stop debate, and even after you have 51 votes to stop debate, then there’s 30 hours of debate possible afterwards. If people don’t yield back that time, that stretches out most nominees to a two- or three-day process…

    “This president has a popular mandate and an electoral mandate [that] he’s got to deliver [on]. The Democrats should realize that and let the cabinet people get in place, so this mandate can get underway very quickly. Until you get those cabinet people in their positions, this town doesn’t move as quickly as it otherwise would.”

    On reconciliation:

    “If we have two big, beautiful bills, [President Trump] will still use the same adjectives, only one number will change. We’re going to get the job done either way. I saw the President on Fox News [with Sean Hannity], and he did make clear that he likes one bill, but he says — ‘One bill or two bills, as long as we get the job done, i’s ok with him’… Our meeting at the White House with the House and Senate Republican leadership [this week] was a very productive meeting, and helps move things along very well. And so I’m very hopeful that we’re going to be able to get this mandate delivered very quickly.”

    On renewing the 2017 Trump tax cuts:

    “I think the tax extensions will take a little longer. Of course, we in the Senate have to wait until the House passes a bill, that’s the way the Constitution [approaches] tax legislation. But we’re not going to sit around and wait for the House. Going way back to September, anticipating a big Trump victory, we set up six working groups within the Republicans on the Senate Finance Committee, and we’re well along on the goals that we want to accomplish in the Senate bill.”

    -30-

    MIL OSI USA News –

  • MIL-OSI: KK MINER Unveils Revolutionary Cloud Mining Platform to Maximize Profits in Bitcoin (BTC) and Dogecoin (DOGE)

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Jan. 25, 2025 (GLOBE NEWSWIRE) — With cryptocurrency markets experiencing renewed momentum in 2024, KK MINER is making headlines by introducing its groundbreaking cloud mining platform designed to empower investors to maximize returns on Bitcoin (BTC), Dogecoin (DOGE), and other major cryptocurrencies. Boasting the potential to earn up to $30,000 daily, KK MINER is poised to transform how users engage with cryptocurrency mining by combining cutting-edge technology with user-centric features.

    Introducing KK MINER

    KK MINER is an advanced cloud mining platform that simplifies cryptocurrency mining by eliminating the complexities of traditional setups. Users can rent hash power to mine popular cryptocurrencies such as Bitcoin (BTC), Dogecoin (DOGE), XRP, and more. By managing all technical aspects, including hardware maintenance and energy costs, KK MINER enables users to focus entirely on generating passive income and diversifying their investments.

    Key Features and Benefits

    • High Efficiency and Stability: Leveraging cutting-edge data centers and advanced mining equipment, KK MINER ensures efficient and reliable returns for its users.
    • Robust Security: Multi-level security protocols, including SSL encryption, two-factor authentication, and 24/7 monitoring, safeguard user funds and information.
    • Flexible Investment Options: With a variety of investment plans, KK MINER caters to both short-term and long-term financial goals. Regular promotions further enhance user benefits.

    Platform Advantages

    • Instant $10 registration bonus.
    • High daily profit potential with no hidden fees.
    • Support for over 10 cryptocurrencies, including BTC, DOGE, and ETH.
    • Lucrative affiliate program offering up to $40,000 in referral bonuses.
    • McAfee® and Cloudflare®-backed security with 24/7 customer support.

    How to Get Started

    1. Register: Visit the KK MINER official website and sign up.
    2. Choose a Plan: Select a mining plan that suits your investment objectives.
    3. Start Mining: Let KK MINER’s advanced technology do the work for you.
    4. Receive Daily Payments: Enjoy consistent payouts, providing a stable income stream.

    Special Offers for New Users

    • Signup Bonus: New users receive a $10 instant bonus upon registration and earn $1 daily for free.
    • Referral Rewards: Invite friends and earn continuous rewards of 3% to 4.5% on their investments.

    Maximizing Earnings with KK MINER

    KK MINER’s investment plans are designed to meet diverse financial needs. Here is an example of its earning potential:

    • Investment Example:
      • Initial Investment: $50,000
      • Daily Interest Rate: 2.50%
      • Daily Passive Income: $1,250
      • Total Earnings after 28 Days: $35,000, with a final balance of $85,000 (principal + earnings).

    Join the Future of Wealth Creation

    As the cryptocurrency market continues to grow, KK MINER leads the way by providing an accessible and efficient solution for investors. Whether you’re starting your crypto journey or are a seasoned investor, KK MINER’s user-friendly platform, unparalleled security, and high earning potential make it the ideal choice.

    For more information, visit KK MINER’s official website at https://kkminer.top/ or download the mobile app for easy access on the go.

    Contact Details

    Edwards Sherry
    Business Manager
    info@kkminer.top 

    Disclaimer: This content is provided by KK MINER . The views expressed are solely those of the provider and do not constitute financial or investment advice. Readers should verify all information and consult a financial advisor before making decisions. Investing involves risks, including loss of principal. Past performance does not guarantee future results. Neither the sponsor nor any associated parties shall be held liable for any errors, omissions, or inaccuracies in the content or for any actions taken based on the information provided. Reliance is at your own risk.

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/c86322b8-215d-47a7-84d5-0287df1f56dd

    https://www.globenewswire.com/NewsRoom/AttachmentNg/7b1f66ba-5d95-492e-b41d-239d980d1480

    https://www.globenewswire.com/NewsRoom/AttachmentNg/25b4131c-6131-4670-a092-bfece14c8c18

    The MIL Network –

  • MIL-OSI USA: Secretary Hegseth’s Message to the Force

    Source: United States Department of Defense

    It is the privilege of a lifetime to lead the warriors of the Department of Defense, under the leadership of our Commander in Chief Donald J. Trump. We will put America First, and we will never back down.
     
    The President gave us a clear mission: achieve Peace through Strength. We will do this in three ways — by restoring the warrior ethos, rebuilding our military, and reestablishing deterrence.   
     
    o    We will revive the warrior ethos and restore trust in our military.  We are American warriors. We will defend our country.  Our standards will be high, uncompromising, and clear. The strength of our military is our unity and our shared purpose.  
     
    o    We will rebuild our military by matching threats to capabilities. This means reviving our defense industrial base, reforming our acquisition process, passing a financial audit, and rapidly fielding emerging technologies. We will remain the strongest and most lethal force in the world. 
     
    o    We will reestablish deterrence by defending our homeland — on the ground and in the sky. We will work with allies and partners to deter aggression in the Indo-Pacific by Communist China, as well as supporting the President’s priority to end wars responsibly and reorient to key threats. We will stand by our allies — and our enemies are on notice.
     
    All of this will be done with a focus on lethality, meritocracy, accountability, standards, and readiness.
     
    I have committed my life to warfighters and their families.  Just as my fellow soldiers had my back on the battlefield, know that I will always have your back. We serve together at a dangerous time.  Our enemies will neither rest nor relent.  And neither will we.  We will stand shoulder to shoulder to meet the urgency of this moment.    
     
    Like each of you, I love my country and swore an oath to defend the Constitution. We will do that each and every day, as one team.  Together we will accomplish the President’s mission to deter war, and if necessary, defeat and destroy our enemies. Godspeed!

    MIL OSI USA News –

  • MIL-OSI: BexBack Revolutionizes Crypto Trading: 100% Deposit Bonus, $50 Welcome Bonus, 100x Leverage and No KYC

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Jan. 25, 2025 (GLOBE NEWSWIRE) — With Bitcoin prices stabilizing around $100,000, analysts predict a high-volatility phase in the market. To help traders seize this opportunity, BexBack Exchange introduces an exceptional promotional package: a 100% deposit bonus, a $50 welcome bonus for new users, and 100x leverage on cryptocurrency trading. Plus, with a No KYC policy, BexBack ensures a private and seamless trading experience.

    Key Features of BexBack

    1. 100% Deposit Bonus
      Double your trading capital. For example, deposit 1 BTC and get an additional 1 BTC to enhance your trading potential.
    2. $50 Welcome Bonus
      New users can earn a $50 bonus after their first trade—making your entry into the market even more rewarding.
    3. 100x Leverage
      Amplify your trading power with minimal capital. For instance, a $100,000 trade requires just 1 BTC.
    4. No KYC Required
      Trade instantly with just an email. No complex identity verification processes.
    5. Transparent Fees
      Zero spreads, no slippage, and simple fee structures make trading cost-effective.
    6. Accessible Platforms
      Trade anywhere, anytime with feature-rich Web and mobile platforms.
    7. Global Support
      Trusted by over 200,000 traders worldwide, BexBack accepts users from the US, Canada, and Europe, and operates under a US MSB license.

    About BexBack

    Headquartered in Singapore with offices in Hong Kong, Japan, the US, the UK, and Argentina, BexBack is a top-tier cryptocurrency derivatives platform. It offers perpetual contracts for BTC, ETH, ADA, SOL, and XRP with up to 100x leverage. The platform provides seamless trading, multilingual 24/7 customer support, and a commitment to user privacy and convenience.

    Don’t Wait—Join BexBack Today!

    If you missed the previous crypto bull run, this could be your chance. With BexBack’s 100x leverage and 100% deposit bonus and $50 bonus for new users (complete one trade within one week of registration), you can be a winner in the new bull run.

    Sign up today on BexBack to claim your bonuses and start trading with the tools you need to succeed in the new era of cryptocurrency trading.

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

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

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/a20de775-a945-4527-8e89-273ea439fc8e
    https://www.globenewswire.com/NewsRoom/AttachmentNg/ff51fee0-b60d-474b-a46b-36ee53da42be
    https://www.globenewswire.com/NewsRoom/AttachmentNg/0be5df38-7510-49be-9f2b-bfda37568bef
    https://www.globenewswire.com/NewsRoom/AttachmentNg/37f99679-8657-4f65-a4d9-c1cae3b7603b

    The MIL Network –

  • MIL-OSI: GameFi’s Rising Star: Monsta Mash Surpasses $1M Milestone

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Jan. 25, 2025 (GLOBE NEWSWIRE) — The GameFi sector, a fusion of gaming and decentralized finance (DeFi), has emerged as a groundbreaking space within blockchain technology. Among the standout projects transforming this industry is Monsta Mash, a GameFi ecosystem that has achieved an extraordinary milestone by raising over $1 million in its presale stage. With its innovative approach and ambitious roadmap, Monsta Mash is carving its place as a leader in the GameFi landscape.

    GameFi, short for “Game Finance,” merges traditional gaming elements with blockchain to offer players unique opportunities to earn real-world rewards through gameplay. Leveraging models like Play-to-Earn (P2E) and Tap-to-Earn (T2E), players can acquire cryptocurrencies or other digital assets. This combination of entertainment and financial incentives has fueled exponential growth in the sector, which is expected to reach $126.17 billion by 2032, according to market forecasts.

    The Monsta Ecosystem: A GameFi Powerhouse

    Monsta Mash distinguishes itself by combining action-packed gaming with blockchain technology. Built on the fast and scalable Solana network, the platform delivers an immersive gaming experience that overcomes the limitations of traditional GameFi projects. Its utility token, $MASH, is the core of this ecosystem, enabling players to convert in-game victories into tangible rewards.

    The app, “Cryptids – Monsta Mash,” is available on both the Google Play Store and Apple App Store, with download milestones demonstrating its growing popularity among blockchain gaming enthusiasts. With a $0.00365 token presale price, Monsta Mash has attracted significant investor interest, including cryptocurrency whales, setting the stage for its projected price surge to $8 by the end of 2025.

    The Journey Through Presale Stages

    Monsta Mash’s presale journey is a testament to its potential and strong investor confidence. The platform had already secured over $1 million in funding. As it progresses through subsequent presale stages, the $MASH token price is projected to rise, offering early investors significant returns. Analysts predict $MASH will exceed $4 by mid-2025, making it one of the most promising tokens in the blockchain gaming space.

    Monsta Mash’s rise reflects broader trends in the GameFi industry, which has seen remarkable growth in unique active wallets and user engagement. As blockchain gaming evolves, Monsta Mash is positioning itself as a leader by providing a blend of financial opportunity and engaging gameplay. Its innovative use of Solana’s capabilities ensures scalability and a seamless user experience, further solidifying its competitive edge over established ecosystems like Gala and The Sandbox.

    Why Join the GameFi Movement with Monsta Mash?

    For those eager to explore the GameFi industry, Monsta Mash offers a gateway to unparalleled opportunities. With its robust ecosystem, exciting gameplay, and the potential for financial gains, Monsta Mash invites players and investors alike to be part of the next big wave in blockchain gaming. Whether you’re a seasoned crypto enthusiast or new to decentralized technology, Monsta Mash provides an accessible and rewarding entry point into the dynamic world of GameFi.

    Don’t miss your chance to join this revolution. Dive into the Monsta Mash ecosystem today and embrace the future of gaming and finance. Visit their official website and secure your $MASH tokens before the next big leap! Use Code “MONSTA50” for an additional 50% bonus.

    Contact Us:

    Name: Mukul Anand
    Email: support@cryptidsgame.io
    PR Manager

    Disclaimer: This content is provided by “Cryptids Game”. 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.

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  • MIL-Evening Report: NZ Palestinian network co-founder Janfrie Wakim praises ‘heroic Gaza’, calls for more action

    Asia Pacific Report

    A co-founder of a national Palestinian solidarity network in Aotearoa New Zealand today praised the “heroic” resilience and sacrifice of the people of Gaza in the face of Israel’s ruthless attempt to destroy the besieged enclave of more than 2 million people.

    Speaking at the first solidarity rally in Auckland Tāmaki Makaurau since the fragile ceasefire came into force last Sunday, Janfrie Wakim of the Palestine Solidarity Network Aotearoa (PSNA) also paid tribute to New Zealand protesters who have supported the Palestine cause for the 68th week.

    “Thank you all for coming to this rally — the first since 7 October 2023 when no bombs are dropping on Gaza,” she declared.

    “The ceasefire in Gaza is fragile but let’s celebrate the success of the resistance, the resilience, and the fortitude — the sumud [steadfastness] — of the heroic Palestinian people.

    “Israel has failed. It has not achieved its aims — in the longest war [15 weeks] in its history — even with $40 billion in aid from the United States. It has failed to depopulate the north of Gaza, it has a crumbling economy, and 1 million Israelis [out if 9 million] have left already.”

    Wakim said that the resistance and success in defeating Israel’s “deadly objectives” had come at a “terrible cost”.

    “We mourn those with families here and in Gaza and now in the West Bank who made  the ultimate sacrifice with their lives — 47,000 people killed, 18,000 of them children, thousands unaccounted for in the rubble and over 100,000 injured.

    Grieving for journalists, humanitarian workers
    “We grieve for but salute the journalists and the humanitarian workers who have been murdered serving humanity.”


    Janfrie Wakim speaking at today’s Palestine rally in Tamaki Makaurau. Video: APR

    She said the genocide had been enabled by the wealthiest countries in the world and the Western media — “including our own with few exceptions”.

    “Without its lies, its deflections, its failure to report the agonising reality of Palestinians suffering, Israel would not have been able to commit its atrocities,” Wakim said.

    “And now while we celebrate the ceasefire there’s been an escalation on the West Bank — air strikes, drones, snipers, ethnic cleansing in Jenin with homes and infrastructure being demolished.

    “Checkpoints have doubled to over 900 — sealing off communities. And still the Palestinians resist.

    “And we must too. Solidarity. Unity of purpose is all important. Bury egos. Let humanity triumph.”

    Palestinian liberation advocate Janfrie Wakim . . . “Without its lies, its deflections, its failure to report the agonising reality of Palestinians suffering, Israel could not have been able to commit its atrocities.” Image: David Robie/APR

    90-year-old supporter
    During her short speech, Wakim introduced to the crowd the first Palestinian she had met in New Zealand, Ghazi Dassouki, who is now aged 90.

    She met him at a Continuing Education seminar at the University of Auckland in 1986 that addressed the topic of “The Palestine Question”. It shocked the establishment of the time with Zionist complaints and intimidation of staff which prevented any similar academic event until 2006.

    Wakim called for justice for the Palestinians.

    “Freedom from occupation. Liberation from apartheid. And peace at last after 76 years of subjugation and oppression by Israel and its allies,” she said

    She called on supporters to listen to what was being suggested for local action — “do what suits your situation and energy. Our task is to persist, as Howard Zinn put it”.

    “When we organise with one another, when we get involved, when we stand up and speak out together, we can create a power no government can suppress,” she said.

    “We don’t have to engage in grand, heroic actions to participate in the process of change. Small acts, when multiplied by millions of people, can transform the world.”

    Introduced to the Auckland protest crowd today . . . Ghazi Dassouki, who is now aged 90.

    As a symbol for peace and justice in Palestine, slices of water melon and dates were handed out to the crowd.

    Calls to block NZ visits by IDF soldiers
    Among many nationwide rallies across Aotearoa New Zealand this weekend, were many calls for the government to suspend entry to the country from soldiers in the Israeli Defence Forces (IDF).

    “New Zealand should not be providing rest and recreation for Israeli soldiers fresh from the genocide in Gaza,” said PSNA national chair John Minto.

    “We wouldn’t allow Russian soldiers to come here for rest and recreation from the invasion of Ukraine so why would we accept soldiers from the genocidal, apartheid state of Israel?”

    As well as the working holiday visa, since 2019 Israelis have been able to enter New Zealand for three months without needing a visa at all.

    This visa-waiver is used by Israeli soldiers for “rest and recreation” from the genocide in Gaza.

    Minto stressed that IDF soldiers had killed at least 47,000 Palestinians — 70 percent of them women and children.

    The International Court of Justice (ICJ) has declared Israeli actions a “plausible genocide”; Amnesty International, and Human Rights Watch have branded the continuous massacres as genocide and extermination; and the latest report from UN Special Rapporteur on Human Rights in the Occupied Palestine Territories Francesca Albanese has called it “genocide as colonial erasure”.

    Watermelon slices for all . . . a symbol of peace, the seed for justice. Image: David Robie/APR

    War crimes red flags
    Also, the International Criminal Court (ICC) has issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Israeli Defence Minister Yoav Gallant for war crimes and crimes against humanity.

    “All these red flags for genocide have been visible for months but the government is still giving the green light to those involved in war crimes to enter New Zealand,” Minto said.

    Last month, PSNA again wrote to the government asking for the suspension of travel to New Zealand for all Israeli soldiers and reservists.

    Meanwhile, 200 Palestinian prisoners held in Israeli jails have been set free under the terms of the Gaza ceasefire deal between Israel and Hamas. Seventy of them will be deported to countries in the region, reports Al Jazeera.

    Masses of people have congregated in Ramallah, celebrating the return of the released Palestinian prisoners.

    A huge crowd waved Palestinian flags, shouted slogans and captured the joyful scene with their phones and live footage shows.

    The release came after Palestinian fighters earlier handed over four female Israeli soldiers who had been held in Gaza to the International Red Cross in Palestine Square.

    The smiling and waving soldiers appeared to be in good health and were in high spirits.

    MIL OSI Analysis – EveningReport.nz –